Document:

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                                                                    Exhibit 4.15

                   COMMERCIAL MANUFACTURING SERVICES AGREEMENT

                                     between

                               LONZA BIOLOGICS PLC

                                       and

                    CAMBRIDGE ANTIBODY TECHNOLOGY LIMITED/1/

---------------
/1/*** indicates that text has been deleted, which is the subject of a
confidential treatment request. This text has been separately provided to the
SEC.

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THIS COMMERCIAL MANUFACTURING SERVICES AGREEMENT

is made the 23rd day of November 2001

BETWEEN

LONZA BIOLOGICS PLC of 228 Bath Road, Slough, Berkshire SL1 4DY, England
(hereinafter referred to as "LB"), and

CAMBRIDGE ANTIBODY TECHNOLOGY Limited of The Science Park, Melbourn, Cambridge
SG8 6JJ, UK (hereinafter referred to as the "Customer").

WHEREAS

A.   Customer is the proprietor of cell lines known as ***, ***, ***, expressing
     Product and such other *** cell lines provided by Customer.

B.   LB has expertise in the development, evaluation and production of
     monoclonal antibodies for therapeutic use using such cell lines; and

C.   Customer and LB have entered into an agreement dated *** as amended to
     provide the services to produce clinical grade Product(s) from cell
     line(s) ("the Umbrella Agreement"), and

D.   The parties now wish to agree a basis upon which LB will supply further
     Product for both clinical trials and/or in market supply.

NOW THEREFORE it is hereby agreed by and between the parties as follows:

1.   In this Agreement, its recitals and Schedules hereto, words and phrases
     defined set out in Schedules 1, 4 and 5 hereto shall have the meanings set
     out therein.

2.   This Agreement shall take effect on the Effective Date (as defined in
     Schedule 4) and shall continue until delivery of the *** scheduled for
     commencement of *** (as defined in Schedule 4) in 2004 pursuant to Schedule
     4 unless terminated in accordance with Clause 9.1 or 9.3 of Schedule 5 or
     Clause 7 of Schedule 4 or extended pursuant to Clause 8 of Schedule 4
     hereto.

3.   LB agrees to carry out the Services subject to all terms set forth herein
     and Customer agrees to pay the Price therefor as provided in Schedule 3
     together with any additional costs and expenses that fall due under
     Schedule 3 hereto.

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4.   4.1  Any notice or other communication to be given under this Agreement
          shall be delivered personally or sent by first class pre-paid post or
          facsimile transmission addressed as follows:

          If to Customer, to:
          Cambridge Antibody Technology Ltd
          The Science Park
          Melbourn
          Cambridgeshire SG8  6JJ
          For the attention of: Company Secretary
          Facsimile: 01763 263413

          If to LB, to:
          Lonza Biologics plc
          228 Bath Road
          Slough
          Berkshire SL1 4DY
          England
          For the attention of: Head of Legal Services
          Facsimile: 01753 777001

          or to such other destination as either party hereto may hereafter
          notify to the other in accordance with the provisions of this clause.

     4.2  All such notices or other communications shall be deemed to have been
          served as follows:

          4.2.1 if delivered personally, at the time of such delivery;

          4.2.2 if sent by first class pre-paid post, five (5) business days
                (Saturdays, Sundays and Bank or other public holidays excluded)
                after being placed in the post;

          4.2.3 if sent by facsimile upon receipt of the transmission
                confirmation slip showing completion of the transmission; or

          4.2.4 if by express mail or by courier within two (2) business days
                after being despatched.

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AS WITNESS the hands of the duly authorised representatives of the parties
hereto the day and year first before written

Signed for and on behalf of
LONZA BIOLOGICS PLC                    ----------------------------------

                                                                          Title
                                       ----------------------------------

Signed for and on behalf of
CAMBRIDGE ANTIBODY TECHNOLOGY LIMITED  ----------------------------------

                                                                          Title
                                       ----------------------------------

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                                   SCHEDULE 1

For the purposes of this Agreement

"Cell Line" shall mean the *** cell lines ***, ***, *** or such other *** cell
lines as may be provided by Customer

"Product" shall have the meaning given in Schedule 5.

A.   Draft Specification for Bulk Purified Product

     As agreed for ***, *** and *** pursuant to the Umbrella Agreement.

     To be agreed with Customer for each other Cell Line, as appropriate.

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                                   SCHEDULE 2
                                    SERVICES

1.   STAGE 1 PRODUCTION OF***) cGMP BATCHES AT *** SCALE AND *** cGMP BATCHES AT
     *** SCALE

     1.1  Objectives

          1.1.1 To produce *** of cGMP Product at the *** scale and *** cGMP
                Batches at *** scale for the term of this Agreement.

     1.2. Activities

          The activities, which are more particularly described in the various
          relevant Request for Services memoranda (technical agreements) agreed
          under the Umbrella Agreement, shall typically include:

          1.2.1 Recover ***vial of the appropriate Cell Line from the Master or
                Working Cell Bank and expand to inoculate a *** or *** fermenter
                as appropriate.

          1.2.2 Carry out airlift fermentation at either *** or *** scale as
                appropriate.

          1.2.3 Lay down a Post-Production Cell Bank (PPCB) by removing the
                cells at intervals from the fermentation. This bank will be
                available for testing as required by Customer.

          1.2.4 Clarify broth and concentrate supernatant as required.

          1.2.5 Purify concentrate using appropriate purification procedure.

          1.2.6 Test Product against draft specification.

          1.2.7 Undertake Quality Assurance review of lot documentation.

          1.2.8 Provide Customer with a consolidated batch record which will
                include a list of any deviations that may have arisen during
                production of the Product and a complete certificate of
                analysis.

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          1.2.9 Review requirements (if any) for Process modifications in order
                to meet the draft Specification for manufacture of subsequent
                lots. Such modifications are subject to written agreement by
                Customer.

          1.2.10 Deliver the Product as instructed by Customer.

     1.3  Timescale

          It is estimated that the consolidated batch record will be issued ***
          from the Out of Freeze Date.

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                                   SCHEDULE 3
                           PRICE AND TERMS OF PAYMENT

1.   Price

     In consideration of LB carrying out the Services Customer shall pay LB the
     Price for each Batch of Product, as determined by reference to the
     following:

     1.1  The Price for *** Product with an *** (as defined in Schedule 4) in
          *** shall be:

          ***per *** Batch; and

          *** per *** Batch.

     1.2  On 1st January of each Calendar Year beginning 2003, the Price for
          each Batch of Product will be increased as set out below, and such
          Price shall be effective for *** Product with an *** on and from 1st
          January of the Calendar Year in question.

     1.3  The Price for *** Product for a given Calendar Year shall be equal to
          the Price for *** Product for the preceding Calendar Year adjusted in
          accordance with ************

     1.4  The Price determined in accordance with Clause 1.3:

          1.4.1 shall apply to *** Product with an *** during the Calendar Year
                in question, *** have been placed for *** prior to the date upon
                which it becomes effective.

          1.4.2 shall be notified by LB to Customer in writing not later than
                the date upon which it becomes effective.

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     1.5  For the avoidance of doubt in no event shall the Price for *** Product
          be less than the figures quoted in Clause 1.1.

     1.6  Exceptional Items

          In addition to the increase in the Price for *** Product pursuant to
          Clauses 1.1 to 1.5 inclusive, additional alterations shall be made to
          the Price for each Batch of Product to cover:

          (a)  exceptional items of cost of raw materials or utilities other
               than equipment and capital cost items are demonstrated to the
               reasonable satisfaction of Customer and such exceptional costs
               are agreed in advance as being incurred in the provision of the
               Services by LB or

          (b)  capital items that may be required due to change in process or
               specifications that are initiated by Customer (which shall be
               paid for by Customer) and changes in FDA or other regulatory
               guidelines which may require capital expenditure specifically for
               the manufacture of Product (which shall be paid for by Customer).
               No other capital equipment charges shall be paid for by Customer.

2.   Payment

     Customer shall pay the Price for each Batch of Product to LB as follows:

     (a)  *** of the Price for *** on the ***

     (b)  *** of the Price for *** upon *** Schedule 2.

     Payment by Customer of the Price for each Batch shall be made by *** of
     issue of LB's invoices by mail and facsimile following the events referred
     to in (a) or (b) above.

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                                   SCHEDULE 4
                                  SPECIAL TERMS

1.   Definitions

     For the purposes of this Agreement:

     1.1  "Batch" shall mean the quantity of Product obtained from one airlift
          fermentation carried out in accordance with cGMP at *** scale or at
          *** scale.

     1.2  "Calendar Year" shall mean a period of twelve (12) calendar months
          commencing on the 1st January.

     1.3  "Effective Date" shall mean the date of signature by the parties of
          this Agreement.

     1.4  "Out of Freeze" shall mean the recovery of the cryopreserved cells
          from an ampoule of the manufacturing working cell bank in order to
          commence activities for the production of a Batch.

     1.5  "Out of Freeze Date" shall mean in relation to any Batch the scheduled
          date for Out of Freeze determined or agreed pursuant to Clause 4 of
          this Schedule 4.

2.   Minimum Order Quantities

     Customer shall order and LB shall carry out the Services to commence Out of
     Freeze for at least ***Batches at *** scale in each of the years 2002,
     2003, 2004 and at least *** batch at *** scale in each of the years 2003
     and 2004. These Batches shall be referred to as the Minimum Order for the
     purposes of this Agreement.

3.   Additional Product Over and Above Minimum Orders

     3.1  In addition to the Minimum Order, Customer may request LB to supply:

          3.1.1 up to *** additional Batches at *** scale for commencement of
                Out of Freeze in each of the years 2002, 2003, and 2004; and

          3.1.2 up to *** additional Batch at *** scale for commencement of Out
                of Freeze in each of the years 2003 and 2004.

     3.2  LB acting in good faith shall use all reasonable efforts to schedule
          slots to accommodate such Customer request(s) for additional Batches
          having regard to its other customer and maintenance planned
          commitments but for the avoidance of doubt LB shall have no obligation
          to perform Services in relation to any such additional Batches unless
          such additional Batches

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          become included in a Binding Schedule (as defined below) pursuant to
          Clause 4.2 of this Schedule 4.

4.   Ordering Procedures

     4.1  Customer will serve its written request for (a) the Minimum Order and
          (b) any additional Batches pursuant to Clause 3 of this Schedule 4:

          4.1.1 for the year 2002, no later than ***; and

          4.1.2 for subsequent Calendar Years, no later than ***

          such request shall in each case include Customer's preferred dates for
          Out of Freeze for each Batch requested (and the Customer hereby
          acknowledges that as at the Effective Date the parties anticipate that
          in relation to any Batch it will take approximately *** months from
          the Out of Freeze Date to complete the Services).

     4.2  Within *** of the final date for service of Customer's request in
          accordance with Clause 4.1, LB shall review the request and issue to
          Customer a schedule for carrying out the Services in relation to (a)
          each of the relevant Minimum Order Batches and (b) such of any
          additional Batches requested as LB is able to accommodate ("a Binding
          Schedule") which Binding Schedule will, inter alia, record the Out of
          Freeze Date for each relevant Batch.

     4.3  4.3.1 Subject to Clause 4.4 below, each Binding Schedule issued by LB
          shall as far as commercially reasonable accommodate Customer's
          requested preferred dates for Out of Freeze.

          4.3.2 No Binding Schedule shall be changed without the written
                agreement of both parties.

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     4.4  4.4.1 Failure of Customer to serve a request for the Minimum Order in
                accordance with Clause 4.1 of this Schedule 4 shall not
                constitute a breach of this Agreement but will entitle LB to
                issue a Binding Schedule for the Minimum Order without further
                reference to Customer.

          4.4.2 For the avoidance of doubt failure of Customer to serve a
                request for any additional Batches in accordance with Clause 4.1
                of this Schedule 4 shall not constitute a breach of this
                Agreement but in such circumstances LB shall have no obligation
                in relation to any additional Batches (beyond the Minimum Order)
                pursuant to Clause 3.2 of this Schedule 4 or otherwise.

     4.5  4.5.1 For the avoidance of doubt the issue of a Binding Schedule shall
                constitute and confirm a binding commitment by Customer to pay
                for and a binding commitment by LB to provide Services for the
                Minimum Order Batches and any additional Batches specified in
                each Binding Schedule.

          4.5.2 For the avoidance of doubt:

                4.5.2.1 Customer shall not be entitled to change a Binding
                        Schedule except pursuant to Clause 5, 6 or 7 of this
                        Schedule 4;

                4.5.2.2 nothing in Clause 4.5.2.1 shall prohibit LB and Customer
                        agreeing to change a Binding Schedule (such agreement to
                        be in writing).

5.   Cancellation of Batch

     5.1  Customer may cancel a Batch included in a Binding Schedule by notice
          in writing to LB subject to payment to LB as follows:

          (i)  Where notice to cancel is served within *** of *** Customer shall
               pay ***% of the Price for such Batch.

          (ii) Where notice to cancel is served between *** and *** of the ***
               Customer shall pay *** of the Price for such Batch.

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     5.2  Following cancellation of a Batch and payment by Customer in
          accordance with Clause 5.1 LB shall use reasonable efforts acting in
          good faith to seek an alternative customer or customers to purchase
          (rather than rescheduling existing commitments) the relevant capacity
          which had previously been reserved for Customer pursuant to a Binding
          Schedule for such Batch and in respect of which a fee has been paid by
          Customer pursuant to Clause 5.1. If LB is successful in so mitigating
          its loss, then LB shall promptly certify to Customer the actual
          mitigation of loss achieved and the cancellation fee paid by Customer
          for the relevant Batch shall be reduced to reflect the extent of the
          such mitigation. Whether or not LB is successful in so mitigating its
          loss(es) Customer shall pay LB's reasonable administration costs in
          respect of the reasonable efforts taken. Customer may require LB's
          independent accountant to inspect LB's records to verify such costs at
          its own expense.

6.   Rescheduling and Substitution

     6.1  In the event Customer wishes to reschedule rather than cancel a Batch
          included in a Binding Schedule Customer shall make such request to LB
          in writing. LB acting in good faith shall use all reasonable efforts
          to reschedule to accommodate such request having regard to LB's other
          customer and maintenance planned commitments provided that the request
          is received not less than *** months before the Out Of Freeze Date of
          the relevant Batch and only where such rescheduling would not result
          in either the commencement of manufacture of the rescheduled Batch
          being delayed until the next calendar year or the creation of unsold
          capacity for LB. LB may charge Customer and Customer shall in such
          circumstances pay LB's reasonable administration costs related to
          arranging any such rescheduling.

     6.2  Customer may substitute a Batch of one Product included in a Binding
          Schedule with a Batch of another substituted Product provided that:

          6.2.1 a written request to do so is received by LB not less than
                ***months before the Out of Freeze Date of the original Batch;
                and

          6.2.2 all documentation and materials which LB may require in order to
                carry out the Services in relation to such substituted Product
                has been received and approved by LB no later than the date
                ***months before the Out of Freeze Date of the original Batch.

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7.   Termination

     7.1  Customer may terminate this Agreement at any time by ninety (90) days
          notice in writing on the following terms:

          7.1.1 Customer shall pay one ***% of the Price for each Batch where
                Customer's notice to terminate is served within six (6) months
                of the Out of Freeze Date of any Batch(es) included in a Binding
                Schedule and;

          7.1.2 Customer shall pay ***% of the Price for each Batch where
                Customer's notice to terminate is served between seven (7) to
                twelve (12) months of the Out of Freeze Date for any Batch(es)
                included in a Binding Schedule

          such sums to be paid upon service of the relevant notice to terminate.

     7.2  Following termination of this Agreement and payment by Customer in
          accordance with Clause 7.1 LB shall use reasonable efforts acting in
          good faith to seek an alternative customer or customers to purchase
          (rather than rescheduling existing commitments) capacity which had
          previously been reserved for Customer pursuant to a Binding Schedule
          and in respect of which a termination fee has been paid by Customer.
          If LB is successful in so mitigating its loss, then LB shall promptly
          certify to Customer the actual mitigation of loss achieved and the
          termination fee paid by Customer for the relevant Batch shall be
          reduced to reflect the extent of the such mitigation. Whether or not
          LB is successful in so mitigating its loss(es) Customer shall pay LB's
          reasonable administration costs in respect of the reasonable efforts
          taken. Customer may require LB's independent accountant to inspect
          LB's records to verify such costs at its own expense.

     7.3  Clause 9.2 of Schedule 5 shall not apply to this Agreement.

8.   Extension

     Customer may extend this Agreement to allow for the provision of Services
     by LB for a further two (2) year period by written notice to LB served no
     later than 30th June 2003. Such extension of this Agreement will be on same
     terms mutatis mutandis as those set out including those for increases in
     Price for each Batch of Product but excluding this Clause 8 for extension.

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                                   Schedule 5

                      STANDARD TERMS FOR CONTRACT SERVICES
                              FOR GS NS0 CELL LINES
                    FOR CAMBRIDGE ANTIBODY TECHNOLOGY LIMITED

1.   Interpretation
     1.1  In these Standard Terms, unless the context requires otherwise :
          1.1.1 "Affiliate" means any Company, partnership or other entity which
                directly or indirectly controls, is controlled by or is under
                common control with the relevant party to this Agreement.
                "control" means the ownership of more than fifty percent (50%)
                of the issued share capital or the legal power to direct or
                cause the direction of the general management and policies of
                the party in question.
          1.1.2 "Agreement" means any contract between LB and Customer
                incorporating these Standard Terms.
          1.1.3 "Cell Line" means such GS NS0 cell lines as are supplied by
                Customer to LB from time to time and in respect of which LB
                agrees to perform Services, and which have been constructed by
                Customer in accordance with the GS Agreement. Further
                particulars of the Cell Line(s) will be detailed between the
                parties at the time of their supply to LB. Such Cell Line(s)
                once supplied will be used by LB for the purposes of providing
                Services to customer in accordance with the terms and conditions
                of this Agreement
          1.1.4 "Customer" means Cambridge Antibody Technology Limited of the
                Science Park, Melbourn, Cambridgeshire
          1.1.5 "Customer Information" means all technical and other information
                not known to LB relating to the Cell Line, the Process and the
                Product supplied by Customer to LB.
          1.1.6 "Customer Tests" means the tests to be carried out on the
                Product immediately following receipt of the Product by
                Customer, particulars of which are set out in Schedule 1.
          1.1.7 "GMP" means Good Manufacturing Practices and General LB Products
                Standards as promulgated under the US Federal Food Drug and
                Cosmetic Act at 21CFR (Chapters 210, 211, 600 and 610) and the
                Guide to Good Manufacturing Practices for Medicinal Products as
                promulgated under European Directive 91/356/EEC. LB' operational
                quality standards are defined in internal GMP policy documents
                and are based on LB' interpretation of the GMP legislation for
                bulk clinical grade biologicals. Additional product-specific
                development documentation and validation work may be required to
                support regulatory applications to conduct clinical trials or
                market a product.
          1.1.8 "LB Know-How" means all technical and other information relating
                 to the Process known to LB from time to time other than
                 confidential Customer Information.
          1.1.9 "Patent Rights" means all patents and patent applications of any
                kind throughout the world relating to the Process which from
                time to time LB is the owner of or is entitled to use.
          1.1.10 "Price" means the price agreed pursuant to the provisions of
                Schedule 3 for the Services.
          1.1.11 "Process" means the process for the production of the Product
                from the Cell Line, including any improvements thereto from time
                to time.
          1.1.12 "Product" means all or any part of the product (including any
                sample thereof) expressed by the Cell Line and of which Customer
                is the proprietor.
          1.1.13 "Services" means all or any part of the services the subject of
                the Agreement (including, without limitation, cell culture
                evaluation, purification evaluation, master, working and
                extended cell bank creation, and sample and bulk production),
                particulars of which are set out in Schedule 2.
          1.1.14 "Special Term" means any term additional or supplemental to
                these Standard Terms from time to time agreed in writing between
                LB and Customer. Particulars of any Special Terms at the date of
                the Agreement are set out in Schedule 4.
          1.1.15 "Specification" means the specification for Product,
                particulars of which are set out in Schedule 1.
          1.1.16 "Terms of Payment" means the terms of payment specified in
                Schedule 3.
          1.1.17 "Testing Laboratories" means any third party instructed by LB
                to carry out tests on the Cell Line or the Product.

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     1.2  Unless the context requires otherwise, words and phrases defined in
          any other part of the Agreement shall bear the same meanings in these
          Standard Terms, references to the singular number include the plural
          and vice versa, references to Schedules are references to schedules to
          the Agreement, and references to Clauses are references to clauses of
          these Standard Terms.
     1.3  In the event of a conflict between a Special Term and these Standard
          Terms, the Special Term shall prevail.

2.   Applicability of Standard Terms
     2.1  From time to time Customer shall notify LB of its intention to
          contract with LB for the supply of all or part of the Services set out
          in Schedule 2 hereto, in respect of a given Cell Line. The parties
          shall identify the detailed particulars of the Cell Line, identify the
          Product, agree the extent of the Services to be performed and the
          Price for such Services. Such agreement and particulars shall be
          reduced to writing and approved by both parties.
     2.2  These Standard Terms shall apply to every Agreement for the Services
          requested by Customer relating to the Cell Line(s) or Product(s). LB
          shall not be bound by any terms which may be inconsistent with these
          Standard Terms and the Special Terms in relation to such Services. No
          variation of or addition to these Standard Terms and the Special Terms
          or any other term of an Agreement shall be effective unless in writing
          and signed for and on behalf of LB.
     2.3  A binding contract shall only be created when both parties have agreed
          in writing to the performance of identified Services in relation to an
          identified Product and Cell Line.

3.   Supply of the Cell Line
     3.1  Prior to or immediately following the date of the Agreement Customer
          shall supply to LB Customer Information, together with full details of
          any known hazards relating to the Cell Line, its storage and use. On
          review of this Customer Information, the Cell Line shall be provided
          to LB at LB's request. Property in the Cell Line supplied to LB shall
          remain vested in Customer.
     3.2  Customer hereby grants LB the non-exclusive right to use the Cell Line
          and Customer Information for the purpose of the Agreement. LB hereby
          undertakes not to use the Cell Line or Customer Information (or any
          part thereof) for any other purpose.
     3.3  LB shall:
          3.3.1 keep the Cell Line and Customer Information secure and safe from
                loss and damage in such manner as LB shall in its sole
                discretion determine;
          3.3.2 not part with possession of the Cell Line, Customer Information
                or the Product, save for the purpose of tests at the Testing
                Laboratories; and
          3.3.3 procure that all Testing Laboratories are subject to obligations
                of confidence no less onerous than those obligations of
                confidence imposed on LB under these Standard Terms.
     3.4  Customer warrants to LB that:
          3.4.1 on the date of signature of this agreement it believes that it
                is and shall throughout the duration of the Agreement remain
                entitled to supply the Cell Line and Customer Information to LB;
                and
          3.4.2 save in relation to the authorised use of the Materials (as
                defined in the agreement dated 15 March 1995 made between
                Customer and Celltech Therapeutics Limited, which agreement was
                novated in favour of LB with effect from 27 July 1996) as to
                which no such warranty is given by Customer, Customer believes
                the use by LB of the Cell Line and Customer Information does not
                and will not infringe any rights (including, without limitation,
                any intellectual or industrial property rights) vested in any
                third party.
     3.5  Subject to the obligations of the parties in Clause 3.6, Customer
          undertakes to indemnify and to maintain LB promptly indemnified
          against any direct loss, damage, costs and expenses of any nature
          (including court costs and reasonable legal fees), that LB may suffer
          arising out of any third party claims which allege that the use by LB
          of the Cell Line or Customer Information infringes any rights
          (including, without limitation, any intellectual or industrial
          property rights) vested in such third party.
     3.6  Without prejudice to Customers obligations in Clause 3.5 to indemnify
          LB, in the event Customer becomes aware of any matter which might
          affect its ability to give the warranty set out in Clause 3.4,
          Customer shall promptly notify LB of the particulars of such matter.
          The parties shall promptly discuss means, whether by licensing or
          otherwise, by which such matter can be satisfactorily addressed.

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          In the event the parties are not able to reach agreement on such
          matter within a period of 60 (sixty) days, either party may by 30
          (thirty) days notice in writing to the other, terminate the Services.
     3.7  As at the date of this Agreement, LB has not received notice to its
          Corporate or Legal Departments of any claim by a third party, which
          affects LB performance of the Services, that the use of the LB Know
          How or the Patent rights infringes intellectual property rights vested
          in any third party.
          In the event LB receives notice of such a claim LB shall promptly
          notify Customer of the particulars of such claim. The parties shall
          promptly discuss means, whether by modifications to the Process,
          licensing or otherwise, by which such matter can be satisfactorily
          addressed.
          In the event the parties are not able to reach agreement on such
          matter within a period of 60 (sixty) day, either party may, by 30
          (thirty) days notice in writing to the other, terminate the Services.
     3.8  Subject to the limitations of Clause 7.3 and subject to the
          obligations of the parties set out in Clause 3.7, in the event
          Customer suffers loss or damage as a result of any claim brought by a
          third party against Customer by virtue of infringement of intellectual
          property rights vested in that third party by the use of LB Know How
          or the patent rights in performance of the Services, LB agrees to
          indemnify Customer in respect of such loss or damage suffered as a
          direct result of such claim.
     3.9  The obligations of the parties under this Clause 3 shall survive the
          termination for whatever reason of the Agreement.

4.   Provision of the Services
     4.1  LB shall carry out the Services as provided in Schedule 2 (in so far
          as they are agreed in respect of any particular Cell Line) and shall
          use all reasonable endeavours to achieve the estimated timelines
          therefor.
     4.2  Due to the unpredictable nature of the biological process involved in
          the Services, the timescales set down for the performance of the
          Services (including without limitation the dates for production and
          delivery of Product) and the quantities of Product for delivery set
          out in Schedule 2 are estimated only.
     4.3  Subject to LB's obligations in Clause 4.1 Customer shall not be
          entitled to cancel any unfulfilled part of the Services or to refuse
          to accept the Services on grounds of late performance, late delivery
          or failure to produce the estimated quantities of Product for
          delivery. LB shall not be liable for any loss, damage, costs or
          expenses of any nature, whether direct or consequential, occasioned
          by:
          4.3.1 any delay in performance or delivery howsoever caused; or
          4.3.2 any failure to produce the estimated quantities of Product for
                delivery.
     4.4  LB shall comply with all statutory, regulatory and similar legislative
          requirements from time to time applicable to the Services under the
          laws of England. If Customer requests LB to comply with any foreign
          statutory, regulatory or similar legislative requirements LB shall use
          reasonable commercial endeavours to do so provided that :
          4.4.1 Customer shall be responsible for informing LB in writing of the
                precise foreign requirements which Customer is requesting LB to
                observe;
          4.4.2 such foreign requirements do not conflict with any mandatory
                requirements under the laws of England;
          4.4.3 LB shall be under no obligation to ensure that such written
                information complies with the applicable requirements of any
                foreign jurisdiction; and
          4.4.4 all costs and expenses incurred by LB in complying with such
                foreign requirements shall be charged to Customer in addition to
                the Price.
     4.5  Delivery of Product shall be ex-works. Risk in and title to Product
          shall pass on delivery. Transportation of Product, whether or not
          under any arrangements made by LB on behalf of Customer, shall be made
          at the sole risk and expense of Customer.
     4.6  Unless otherwise agreed, LB shall package and label Product for
          delivery ex-works. It shall be the responsibility of Customer to
          inform LB in writing in advance of any special packaging and labelling
          requirements for Product. All additional costs and expenses of
          whatever nature incurred by LB in complying with such special
          requirements shall be charged to Customer in addition to the Price.

5.   Transportation of Product and Customer Tests
     5.1  If requested by Customer, LB will (acting as agent of Customer for
          such purpose) arrange the transportation of Product from LB's premises
          to the destination indicated by Customer subject to Customer providing
          full insurance cover for Product in transit at its invoiced value,
          which cover is also taken for the benefit of LB or includes a waiver
          by the insurer of its subrogation rights against LB in LB's capacity
          as Customer's agent. All additional costs and expenses of whatever
          nature incurred by LB in arranging such transportation shall be
          charged to Customer's account in addition to the Price.

<PAGE>

     5.2  Where LB has made arrangements for the transportation of Product,
          Customer shall diligently examine the Product as soon as practicable
          after receipt. Notice of all claims (time being of the essence)
          arising out of :
          5.2.1 damage to or total or partial loss of Product in transit shall
                be given in writing to LB and the carrier within three (3)
                business days of delivery; or
          5.2.2 non-delivery shall be given in writing to LB within ten (10)
                business days after the date of LB's despatch notice, provided
                such despatch notice has been received within that period by
                Customer.
     5.3  Immediately upon receipt of Product, Customer shall carry out Customer
          Tests. If the Product in question is released against Specification
          (as opposed to the Specification being in draft form) and Customer
          Tests show that the Product fails to meet Specification, Customer
          shall give LB written notice thereof within forty-two (42) days from
          the date of delivery of the Product ex-works and shall return such
          Product to LB's premises for further testing. In the absence of such
          written notice Product shall be deemed to have been accepted by
          Customer as meeting Specification. If LB is satisfied that Product
          returned to LB fails to meet Specification and that such failure is
          not due (in whole or in part) to acts or omissions of Customer or any
          third party after delivery of such Product ex-works, LB at Customer's
          discretion, shall either refund that part of the Price relating to the
          Product in question or replace such Product at the cost and expense of
          LB as soon as reasonably possible. Customer expressly acknowledges LB
          shall have regard to its pre-existing contractual commitments to third
          parties in the event Customer elects to have Product replaced and that
          such regard may result in a delay in the replacement of Product. In
          the event LB is obliged to replace Product pursuant to this Clause
          5.3, LB shall in addition re-imburse Customer for its reasonable out
          of pocket costs incurred in testing such replacement Product.
     5.4  If there is any dispute concerning whether Product returned to LB
          fails to meet Specification or whether such failure is due (in whole
          or in part) to acts or omissions of Customer or any third party after
          delivery of such Product ex-works, such dispute shall be referred to
          the Chief Executive or President (or their equivalent) of each party,
          who shall negotiate in good faith, during a period of no more than
          thirty (30) days, to resolve such dispute. In the event the parties
          cannot resolve any dispute by such internal discussion, such dispute
          shall be referred for decision to an independent expert (acting as an
          expert and not as an arbitrator) to be appointed by agreement between
          LB and Customer or, in the absence of agreement by the President for
          the time being of the Association of the British Pharmaceutical
          Industry. The costs of such independent expert shall be borne equally
          between LB and Customer. The decision of such independent expert shall
          be in writing and, save for manifest error on the face of the
          decision, shall be binding on both LB and Customer.
     5.5  The provisions of Clauses 5.3 and 5.4 shall be the sole remedy
          available to Customer in respect of Product that fails to meet
          Specification.

6.   Price and Terms of Payment
     6.1  Customer shall pay the Price in accordance with the Terms of Payment.
     6.2  Unless otherwise indicated in writing by LB, all prices and charges
          are exclusive of value added tax or of any other applicable taxes,
          levies, imposts, duties and fees of whatever nature imposed by or
          under the authority of any government or public authority, which shall
          be paid by Customer. All invoices are strictly net and payment must be
          made within *** of date of invoice. Payment shall be made without
          deduction, deferment, set-off, lien or counterclaim of any nature.
     6.3  Time for payment shall be of the essence. In default of payment on due
          date :
          6.3.1 interest shall accrue on any amount overdue at the rate of ***%
                per annum above the Base Rate from time to time of Midland Bank
                plc, interest to accrue on a day to day basis both before and
                after judgement; and
          6.3.2 LB shall, at its sole discretion, and without prejudice to any
                other of its accrued rights, be entitled to suspend the
                provision of the Services or to treat the Agreement as
                repudiated by notice in writing to Customer exercised at any
                time thereafter.

7.   Warranty and Limitation of Liability
     7.1  LB warrants that :
          7.1.1 the Services shall be performed in accordance with Clause 4.1;
                and
          7.1.2 the Product shall meet Specification, save where the
                Specification is stated to be in draft form when LB shall be
                obliged only to use all reasonable endeavours to produce Product
                that meets Specification.

<PAGE>

     7.2  Clause 7.1 is in lieu of all conditions, warranties and statements in
          respect of the Services and/or the Product whether expressed or
          implied by statute, custom of the trade or otherwise (including but
          without limitation any such condition, warranty or statement relating
          to the description or quality of the Product, its fitness for a
          particular purpose or use under any conditions whether or not known to
          LB) and any such condition, warranty or statement is hereby excluded.
     7.3  Without prejudice to the terms of Clauses 5.5, 7.2, 7.4 and 7.6, and
          any Special Term, the liability of LB for any loss or damage suffered
          by Customer as a direct result of any breach of the Agreement or of
          any other liability of LB (including misrepresentation and negligence)
          in respect of the Services (including without limitation the
          production and/or supply of the Product) shall be limited to the
          payment by LB of damages which shall not exceed pounds sterling
          (pound)***.
     7.4  Subject to Clause 7.6, LB shall not be liable for the following loss
          or damage howsoever caused (even if foreseeable or in the
          contemplation of LB or Customer) :
          7.4.1 loss of profits, business or revenue whether suffered by
                Customer or any other person; or
          7.4.2 special, indirect or consequential loss, whether suffered by
                Customer or any other person; and
          7.4.3 any loss arising from any claim not being a claim arising from
                breach of the warranties in Clause 7.1 made against Customer by
                any other person.
     7.5  Customer shall indemnify and maintain LB promptly indemnified against
          any direct loss, damage costs or expenses of any nature (including
          court costs and reasonable legal fees) or other liabilities whatsoever
          (including those arising out of claims or actions by third parties) in
          respect of :
          7.5.1 any liability under the Consumer Protection Act 1987, unless
                such liability is caused by the negligent or wilful act or
                omission of LB or breach of statutory duty by LB in the
                production and/or supply of the Product; and
          7.5.2 any product liability (other than that referred to in Clause
                7.5.1) in respect of Product, unless such liability is caused by
                the negligent or wilful act or omission of LB in the production
                and/or supply of Product; and
          7.5.3 any negligent or wilful act or omission of Customer in relation
                to the use, processing, storage or sale of the Product.
     7.6  Nothing contained in these Standard Terms shall purport to exclude or
          restrict any liability for death or personal injury resulting directly
          from negligence by LB in carrying out the Services or any liability
          for breach of the implied undertakings of LB as to title.
     7.7  The obligations of both parties under this Clause 7 shall survive the
          termination for whatever reason of the Agreement.

8.   Customer Information, LB Know-How and Patent Rights
     8.1  Customer acknowledges that LB Know-How and LB acknowledges that
          Customer Information with which it is supplied by the other pursuant
          to the Agreement is supplied, subject to Clause 8.4, in circumstances
          imparting an obligation of confidence and each agrees to keep such LB
          Know-How or such Customer Information secret and confidential and to
          respect the other's proprietary rights therein and not at any time for
          any reason whatsoever to disclose or permit such LB Know-How or such
          Customer Information to be disclosed to any third party.
     8.2  Customer and LB shall each procure that all their respective
          employees, consultants and contractors having access to confidential
          LB Know-How or confidential Customer Information shall be subject to
          the same obligations of confidence as the principals pursuant to
          Clause 8.1 and shall enter into secrecy agreements in support of such
          obligations. Insofar as this is not reasonably practicable, the
          principals shall take all reasonable steps to ensure that any such
          employees, consultants and contractors are made aware of such
          obligations and shall take such steps as they deem appropriate to
          enforce such obligations.
     8.3  LB and Customer each undertake not to disclose or permit to be
          disclosed to any third party, or otherwise make use of or permit to be
          made use of, any trade secrets or confidential information relating to
          the technology, business affairs or finances of the other, any
          subsidiary, holding company or subsidiary or any such holding company
          of the other, or of any suppliers, agents, distributors, licensees or
          other customers of the other which comes into its possession under
          this Agreement.
     8.4  The obligations of confidence referred to in this Clause 8 shall not
          extend to any information which :
          8.4.1 is or becomes generally available to the public otherwise than
                by reason of a breach by the recipient party of the provisions
                of this Clause 8;
          8.4.2 is known to the recipient party and is at its free disposal
                prior to its receipt from the other;
          8.4.3 is subsequently disclosed to the recipient party without being
                made subject to an obligation of confidence by a third party who
                is free to make such disclosure; or

<PAGE>

          8.4.4 LB or Customer may be required to disclose under any statutory,
               regulatory or similar legislative requirement (including
               requirements of any Stock Exchange to which the party in question
               may be subject or necessary in connection with making submissions
               to the Medicines Control Agency), subject to the imposition of
               obligations of secrecy wherever possible in that relation.
     8.5  Customer acknowledges that:
          8.5.1 LB Know-How and the Patent Rights are vested in LB or LB is
               otherwise entitled thereto; and
          8.5.2 Customer acknowledges that, in order to undertake any commercial
               exploitation of the Cell Line or the Product, Customer will
               require a licence under the GS System gene expression system of
               which LB is the proprietor. Customer further acknowledges it is
               Customer's duty to satisfy itself as to the need for licences
               under other intellectual property vested in LB (including Patent
               Rights) and that vested in LB's Affiliates and other third
               parties; and
          8.5.3 save as expressly provided herein Customer shall not at any time
               by virtue of this agreement have any right, title, licence or
               interest in or to LB Know-How, the Patent Rights or any other
               intellectual property rights relating to the Process which are
               vested in LB or to which LB is otherwise entitled.
     8.6  The parties agree to meet regularly to discuss intellectual property
          matters of mutual interest and of relevance to the Services or the
          Product.
     8.7  The obligations of LB and Customer under this Clause 8 shall survive
          the termination for whatever reason of the Agreement.

9.   Termination
     9.1  Notwithstanding the provisions of Clause 4.3 if it becomes apparent to
          either LB or Customer at any stage in the provision of the Services
          that it will not be possible to complete the Services for scientific
          or technical reasons a sixty (60) day period shall be allowed for
          discussion to resolve such problems. If such problems are not resolved
          within such period, LB and Customer shall each have the right to
          terminate the Agreement forthwith by notice in writing. In the event
          of such termination, Customer shall pay to LB a termination fee such
          fee to be calculated by reference to all the internal costs incurred
          by LB prior to such termination, at LB's then standard rates to the
          extent such costs relate to the performance by LB of the Services. In
          addition, Customer shall pay LB all expenses reasonably incurred by LB
          with third parties and those reasonably incurred in giving effect to
          such termination plus an administration fee of ***%of such expenses.
          Such termination sum not to exceed***.
     9.2  Subject to Customer's rights under Clause 9.1 above, Customer has the
          right to terminate the Agreement at any time and for any reason by
          giving thirty (30) days prior written notice of its intention to
          terminate the Agreement under this clause. In the event of termination
          by Customer pursuant to Clause 9.2 Customer shall pay to LB a
          termination sum calculated in accordance with the principles of the
          calculation of the termination sum referred to in Clause 9.1, and in
          addition:
          9.2.1 Subject always to LB's obligation to keep Customer informed, in
               writing, of the planned out of freeze date for the Cell line no
               less than once in every month, if Customer serves notice of
               termination of the Agreement under this Clause 9.2 at any time
               three (3) months or less than three (3) months from the then
               planned out of freeze date for the Cell Line to be used in the
               manufacture, purification and delivery of GMP Product by LB,
               Customer shall pay the ***of the stage of the Services which the
               GMP activities in question comprise, save that such obligation to
               make payment shall be reduced to the extent LB in fact mitigates
               its loss in this regard and notifies Customer to that effect. For
               the avoidance of doubt, LB shall be under no obligation to take
               any active steps to mitigate such loss
     9.3  LB and Customer may each terminate the Agreement forthwith by notice
          in writing to the other upon the occurrence of any of the following
          events:
          9.3.1 if the other commits a breach of the Agreement which (in the
               case of a breach capable of remedy) is not remedied within thirty
               (30) days of the receipt by the other of notice identifying the
               breach and requiring its remedy; or
          9.3.2 if the other ceases for any reason to carry on business or
               compounds with or convenes a meeting of its creditors or has a
               receiver or manager appointed in respect of all or any part of
               its assets or is the subject of an application for an
               administration order or of any proposal for a voluntary
               arrangement or enters into liquidation (whether compulsorily or
               voluntarily) or undergoes any analogous act or proceedings under
               foreign law.

<PAGE>

     9.4  Upon the termination of the Agreement for whatever reason:
          9.4.1 LB shall promptly return all Customer Information to Customer
               and shall dispose of or return to Customer the Cell Line and any
               materials therefrom, as directed by Customer;
          9.4.2 Customer shall promptly return to LB all LB Know-How it has
               received from LB;
          9.4.3 Customer shall not thereafter use or exploit the Patent Rights
               or the LB Know-How in any way whatsoever;
          9.4.4 LB may thereafter use or exploit the Patent Rights or the LB
               Know-How in any way whatsoever without restriction; and
          9.4.5 LB and Customer shall do all such acts and things and shall sign
               and execute all such deeds and documents as the other may
               reasonably require to evidence compliance with this Clause 9.4.
     9.5  Termination of the Agreement for whatever reason shall not affect the
          accrued rights of either LB or Customer arising under or out of this
          Agreement and all provisions which are expressed to survive the
          Agreement shall remain in full force and effect.

10.  Force Majeure
     10.1 If LB is prevented or delayed in the performance of any of its
          obligations under the Agreement by Force Majeure and shall give
          written notice thereof to Customer specifying the matters constituting
          Force Majeure together with such evidence as LB reasonably can give
          and specifying the period for which it is estimated that such
          prevention or delay will continue, LB shall be excused from the
          performance or the punctual performance of such obligations as the
          case may be from the date of such notice for so long as such cause of
          prevention or delay shall continue.
     10.2 The expression "Force Majeure" shall be deemed to include any cause
          affecting the performance by LB of the Agreement arising from or
          attributable to acts, events, non-happenings, omissions or accidents
          beyond the reasonable control of LB.

11.  Governing Law, Jurisdiction and Enforceability
     11.1 The construction, validity and performance of the Agreement shall be
          governed by the laws of England, to the jurisdiction of whose courts
          LB and Customer submit.
     11.2 The parties shall use all reasonable efforts to solve any disputes
          which may arise under this Agreement. Before having recourse to
          litigate under Clause 11.1 the Chief Executive Officers of the
          parties, or their nominees, shall within one month (which period may
          be extended by agreement) from a request by either party to meet and
          use their efforts to resolve any disputes. Provided always that if
          there has been no resolution of such dispute within 2 months of the
          request to meet from either party, either party shall be entitled to
          refer such dispute to the courts in accordance with Clause 11.1.
     11.3 No failure or delay on the part of either LB or Customer to exercise
          or enforce any rights conferred on it by the Agreement shall be
          construed or operate as a waiver thereof nor shall any single or
          partial exercise of any right, power or privilege or further exercise
          thereof operate so as to bar the exercise or enforcement thereof at
          any time or times thereafter.
     11.4 The illegality or invalidity of any provision (or any part thereof) of
          the Agreement or these Standard Terms shall not affect the legality,
          validity or enforceability of the remainder of its provisions or the
          other parts of such provision as the case may be.

12.  Miscellaneous
     12.1 Neither party shall be entitled to assign, transfer, charge or in any
          way make over the benefit and/or the burden of this Agreement without
          the prior written consent of the other which consent shall not be
          unreasonably withheld or delayed, save that.
          12.1.1 LB shall be entitled without the prior written consent of
               Customer to assign, transfer, charge, sub-contract, deal with or
               in any other manner make over the benefit and/or burden of this
               Agreement to an Affiliate or to any 50/50 joint venture company
               of which LB is the beneficial owner of fifty percent (50%) of the
               issued share capital thereof or to any company with which that
               party may merge or to any company to which that party may
               transfer its assets and undertaking, and
          12.1.2 Customer shall be entitled without the prior written consent of
               LB to assign, transfer charge or otherwise make over the benefit
               and/or the burden of this Agreement to a third party which third
               party or its affiliate does not offer "biologics contract
               manufacturing" or "a fee for biologics manufacturing and/or
               process development service" services to third parties. This
               right is personal to Customer. This Agreement shall not be
               further assignable by Customers third party assignees pursuant to
               this Clause 12.1.2.

<PAGE>

     12.2 The text of any press release or other communication to be published
          by or in the media concerning the subject matter of the Agreement
          shall require the written approval of LB and Customer.
     12.3 The Agreement embodies the entire understanding of LB and Customer and
          there are no promises, terms, conditions or obligations, oral or
          written, expressed on implied, other than those contained in the
          Agreement. The terms of the Agreement shall supersede all previous
          agreements (if any) which may exist or have existed between LB and
          Customer relating to the Services.
     12.4 The parties to this Agreement do not intend that any term hereof
          should be enforceable by virtue of the Contracts (Rights of Third
          Parties) Act 1999 by any person who is not a party to this Agreement.<PAGE>

                                                                     EXHIBIT 4.8

                                     MAYTAG

                           DEFERRED COMPENSATION PLAN

                     (As Adopted Effective January 1, 2003)

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                   Page
                                                                                   ----
<S>                                                                                <C>
ARTICLE I    INTRODUCTION ........................................................  1

     1.1     Purpose of the Plan .................................................  1
     1.2     Non-Qualified "Top-Hat" Plan ........................................  1
     1.3     Plan Document .......................................................  1
     1.4     Effective Date of Document ..........................................  1

ARTICLE II   DEFINITIONS AND CONSTRUCTION ........................................  1

     2.1     Definitions .........................................................  1
     2.2     Choice of Law .......................................................  5

ARTICLE III  PARTICIPATION AND CONTRIBUTION CREDITS ..............................  5

     3.1     Participation .......................................................  5
     3.2     Elective Deferral Credits ...........................................  6
     3.3     Company Match Credits ...............................................  7

ARTICLE IV   ACCOUNTS AND INVESTMENT ADJUSTMENTS .................................  8

     4.1     Accounts ............................................................  8
     4.2     Valuation of Accounts ...............................................  9
     4.3     Earnings Credits ....................................................  9
     4.4     Statements .......................................................... 10

ARTICLE V    VESTING ............................................................. 11

     5.1     Fully Vested Accounts ............................................... 11
     5.2     Accounts Subject to Vesting Schedule ................................ 11

ARTICLE VI   WITHDRAWALS WHILE EMPLOYED .......................................... 12

     6.1     Scheduled Withdrawals ............................................... 12
     6.2     Financial Hardship Withdrawal ....................................... 13

ARTICLE VII  DISTRIBUTIONS AFTER TERMINATION ..................................... 14

     7.1     Benefit on Termination of Service ................................... 14
     7.2     Time and Form of Distribution ....................................... 14
     7.3     Cash-Out of Small Accounts .......................................... 15
     7.4     Valuation of Accounts Following Termination of Service .............. 15

ARTICLE VIII DISTRIBUTIONS AFTER DEATH ........................................... 15

     8.1     Survivor Benefits ................................................... 15
     8.2     Beneficiary Designation ............................................. 16
     8.3     Successor Beneficiary ............................................... 17

ARTICLE IX   CONTRACTUAL OBLIGATIONS AND FUNDING ................................. 17

     9.1     Contractual Obligations ............................................. 17
     9.2     Funding ............................................................. 18

ARTICLE X    AMENDMENT AND TERMINATION OF PLAN ................................... 18

     10.1    Right to Amend or Terminate ......................................... 18
     10.2    Effect of Termination ............................................... 18

ARTICLE XI   ADMINISTRATION ...................................................... 19
</TABLE>

                                       -i-

<PAGE>

<TABLE>
<S>                                                                              <C>
   11.1    Administration ...................................................... 19
   11.2    Correction of Errors And Duty to Review Information ................. 20
   11.3    Claims Procedure .................................................... 20
   11.4    Indemnification ..................................................... 22
   11.5    Exercise of Authority ............................................... 22
   11.6    Telephonic or Electronic Notices and Transactions ................... 22

ARTICLE XII  MISCELLANEOUS ..................................................... 22

   12.1    Nonassignability .................................................... 22
   12.2    Withholding ......................................................... 23
   12.3    Successors of the Company ........................................... 23
   12.4    Employment Not Guaranteed ........................................... 23
   12.5    Gender, Singular and Plural ......................................... 23
   12.6    Captions ............................................................ 23
   12.7    Validity ............................................................ 23
   12.8    Waiver of Breach .................................................... 23
   12.9    Notice .............................................................. 23
</TABLE>

                                      -ii-

<PAGE>

                               MAYTAG CORPORATION
                           DEFERRED COMPENSATION PLAN

                                    ARTICLE I

                                  INTRODUCTION

1.1  Purpose of the Plan. The MAYTAG CORPORATION DEFERRED COMPENSATION PLAN is
     sponsored by the Company to attract high quality executives and directors
     and to provide eligible executives and directors with an opportunity to
     save on a pre-tax basis and accumulate tax-deferred earnings to achieve
     their financial goals.

1.2  Non-Qualified "Top-Hat" Plan. The Plan is a "top-hat" plan - that is, an
     unfunded plan maintained primarily for the purpose of providing deferred
     compensation for a select group of management or highly compensated
     employees within the meaning of ERISA (S)(S). 201(2), 301(a)(3) and
     401(a)(1), and therefore is exempt from Parts 2, 3 and 4 of Title I of
     ERISA.

1.3  Plan Document. The Plan document consists of this document, any appendix to
     this document and any document that is expressly incorporated by reference
     into this document.

1.4  Effective Date of Document. The Plan (as stated in this document) is
     effective January 1, 2003.

                                   ARTICLE II

                          DEFINITIONS AND CONSTRUCTION

2.1   Definitions.

2.1.1 "Account" means an account established for a Participant pursuant to
       Article IV.

2.1.2 "Affiliate" means any corporation that is a member of the same controlled
      group as the Company as defined in Code ss. 414(b) or any business entity
      that is under common control with the Company as defined in Code (S)
      414(c).

2.1.3 "Beneficiary" means a person or persons designated as such pursuant to
      Sec. 8.2.

2.1.4 "Board" means the Board of Directors of the Company.

2.1.5 "Change of Control" means:

                                      -1-

<PAGE>

(a)  Acquisition of 20% Control. The acquisition by any individual, entity or
     group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities
     Exchange Act of 1934, as amended (the "Exchange Act")) (a "Person") of
     beneficial ownership (within the meaning of Rule 13d-3 promulgated under
     the Exchange Act) of twenty-percent (20%) or more of either (1) the
     then-outstanding shares of common stock of the Company (the "Outstanding
     Company Common Stock") or (2) the combined voting power of the
     then-outstanding voting securities of the Company entitled to vote
     generally in the election of directors (the "Outstanding Company Voting
     Securities"); provided, however, that, for purposes of this paragraph (a),
     the following acquisitions shall not constitute a Change of Control:

     (1)  Any acquisition directly from the Company,

     (2)  Any acquisition by the Company,

     (3)  Any acquisition by any employee benefit plan (or related trust)
          sponsored or maintained by the Company or an Affiliate, or

     (4)  Any acquisition by any corporation pursuant to a transaction that
          complies with Sections 1(d)(3)(A), 1(d)(3)(B) and 1(d)(3)(C).

(b)  Change in Board. Individuals who, as of the date hereof, constitute the
     Board (the "Incumbent Board") cease for any reason to constitute at least a
     majority of the Board; provided, however, that any individual becoming a
     director subsequent to the date hereof whose election, or nomination for
     election by the Company's shareholders, was approved by a vote of at least
     a majority of the directors then comprising the Incumbent Board shall be
     considered as though such individual were a member of the Incumbent Board,
     but excluding, for this purpose, any such individual whose initial
     assumption of office occurs as a result of an actual or threatened election
     contest with respect to the election or removal of directors or other
     actual or threatened solicitation of proxies or consents by or on behalf of
     a Person other than the Board.

(c)  Certain Business Combinations. Consummation of a reorganization, merger,
     statutory share exchange or consolidation or similar corporate transaction
     involving the Company or any of its subsidiaries, a sale or other
     disposition of all or substantially all of the assets of the Company, or
     the acquisition of assets or stock of another entity by the Company or any
     of its subsidiaries (each, a "Business Combination"), in each case unless,
     following such Business Combination:

     (1)  All or substantially all of the individuals and entities that were the
          beneficial owners of the Outstanding Company Common Stock and the
          Outstanding Company Voting Securities immediately prior to such
          Business Combination beneficially own, directly or indirectly, more
          than sixty percent (60%) of the then-outstanding shares of common
          stock and the combined voting power of the then-outstanding voting
          securities entitled to vote generally in the election of directors, as
          the case may be, of the corporation resulting from such Business
          Combination (including, without limitation, a corporation that, as a
          result of such transaction, owns the Company or all or substantially
          all of the Company's assets either directly or through one or more
          subsidiaries) in substantially the same proportions as their ownership
          immediately prior to such Business Combination of the Outstanding
          Company Common Stock and the Outstanding Company Voting Securities, as
          the case may be,

                                      -2-

<PAGE>

           (2) No Person (excluding any corporation resulting from such Business
               Combination or any employee benefit plan (or related trust) of
               the Company or such corporation resulting from such Business
               Combination) beneficially owns, directly or indirectly, 20% or
               more of, respectively, the then-outstanding shares of common
               stock of the corporation resulting from such Business Combination
               or the combined voting power of the then-outstanding voting
               securities of such corporation, except to the extent that such
               ownership existed prior to the Business Combination; and

           (3) At least a majority of the members of the board of directors of
               the corporation resulting from such Business Combination were
               members of the Incumbent Board at the time of the execution of
               the initial agreement or of the action of the Board providing for
               such Business Combination.

       (d) Liquidation or Dissolution. Approval by the shareholders of the
           Company of a complete liquidation or dissolution of the Company.

2.1.6  "Code" means the Internal Revenue Code of 1986, as amended.

2.1.7  "Company" means Maytag Corporation.

2.1.8  "Company Performance Match Credit" means a credit to the Account of a
       Participant pursuant to Sec. 3.3.1

2.1.9  "Company Make-Whole Match Credit" means a credit to the Account of a
       Participant pursuant to Sec. 3.3.2

2.1.10 "Deferral Eligible Amounts" means:

       (a) Employees. In the case of an Employee, his/her base salary, incentive
           bonuses, and payments under the Performance Incentive Award Plan
           (PIAP) from the Company and its Affiliates, plus any other bonus or
           other incentive payment the Compensation Committee of the Board
           determines in its sole discretion to be eligible for a deferral
           election under Sec. 3.2.

       (b) Non-Employee Directors. In the case of a Non-Employee Director,
           his/her meeting, chair (if any) and retainer fees.

2.1.11 "Disability" means eligibility to receive benefits under the long-term
       disability plan maintained by the Company as in effect at the time of
       such Disability.

2.1.12 "Earnings Credit" means the gains and losses credited on the balance
       of an Account based on the choice made by the Participant (or Beneficiary
       after the death of the Participant) among the investment options made
       available under the Plan.

2.1.13 "Eligible Group" means any person within the group consisting of:

       (a) Employees. Those Employees who are:

                                       -3-

<PAGE>

              (1)   On payroll in the United States; and

              (2)   In exempt Salary Band 18 (or above).

              The ERISA Executive Committee in its sole and absolute
              discretion may determine that an Employee described above will
              not be in the Eligible Group, or may determine that an
              Employee not described above will be in the Eligible Group.
              However, as to Employees, the Plan is intended to cover only
              those Employees who are in a select group of management or
              highly compensated employees within the meaning of ERISA
              (S)(S) 201(2), 301(a)(3) and 401(a)(1); and, accordingly, if
              any interpretation is issued by the Department of Labor that
              would exclude any Employee from satisfying that requirement,
              such Employee immediately will cease to be in the Eligible
              Group.

         (b)  Non-Employee Directors.  Any Non-Employee Director.

2.1.14   "Employee" means any common-law employee of the Company or an Affiliate
         (while it is an Affiliate).

2.1.15   "ERISA" means the Employee Retirement Income Security Act of 1974, as
         amended.

2.1.16   "Non-Employee Director" means an individual who is a member of the
         Board but who is not an Employee

2.1.17   "Participant" means an Employee or Non-Employee Director who is
         enrolled in the Plan, or a current or former Employee or Non-Employee
         Director who is not enrolled but who has a balance remaining in an
         Account under the Plan. "Active Participant" means an Employee or
         Non-Employee Director who is enrolled in the Plan.

2.1.18   "Participating Affiliate" means any Affiliate (while it is an
         Affiliate) which employs one or more Employees who are in the Eligible
         Group.

2.1.19   "Plan Year" means the calendar year.

2.1.20   "Retirement" means:

         (a)  Employees.  In the case of an Employee, any Termination of Service
              on or after the date on which the Employee:

              (1)   Has both attained age sixty-five (65) and reached the  fifth
                    (5th) anniversary of the first day of the Plan Year in which
                    he/she was first employed with the  Company or an Affiliate
                    (or, in the case of an Employee who previously was employed
                    with Amana, reached January 1, 2007) (referred to as
                    "Normal Retirement"); or

                                      -4-

<PAGE>

              (2)  Has both attained age fifty-five (55) and completed at l (10)
                   Years of Credited Service under the Maytag Retirement Plan
                   (referred to as "Early Retirement").

         (b)  Non-Employee Director. In the case of a Non-Employee Director,
              departure from the Board under circumstances that constitute
              "retirement" under the policies of the Company in place at the
              time of departure from the Board.

2.1.21   "Termination of Service" means:

         (a)  Employee. In the case of an Employee, resignation, discharge,
              retirement, death or the happening of any other event or
              circumstance that results in the severance of the common-law
              Affiliates, unless the Employee then becomes a Non-Employee
              Director. For an Employee working for an Affiliate, a
              Termination of Service will occur upon sale of the stock of
              such Affiliate such that it no longer satisfies the definition
              of an Affiliate under the Plan.

         (b)  Non-Employee Director.  In the case of a Non-Employee
              Director, departure from the Board, unless the Non-Employee
              Director then becomes an Employee.

2.1.22   "Trustee" means the trustee of the trust established pursuant to
         Sec. 9.2.

2.1.23   "Valuation Date" means the last day of each calendar month on which
         trading occurs on the New York Stock Exchange.

2.2      Choice of Law. The Plan will be governed by the laws of the State of
         Iowa to the extent that such laws are not preempted by the laws of the
         United States. All controversies, disputes, and claims arising
         hereunder must be submitted to the United States District Court for the
         Southern District of Iowa.

                                   ARTICLE III

                     PARTICIPATION AND CONTRIBUTION CREDITS

3.1      Participation.

3.1.1    Eligible Group.  All Employees and Non-Employee Directors who are in
         the Eligible Group will be eligible to participate in
         the Plan.

3.1.2    Enrollment. An Employee or Non-Employee Director who is in the Eligible
         Group will be allowed to enroll in the Plan as of the first day of the
         month that coincides with or next follows the date thirty (30) days
         after he/she is notified of eligibility for the Plan, or if later, as
         of January 1, 2003. Thereafter, an Eligible Executive may elect to
         enroll for a

                                      -5-

<PAGE>

         Plan Year during the enrollment period established by the Company for
         such Plan Year, which enrollment period will be a period of at least
         thirty (30) days that precedes the start of the Plan Year.

         Enrollment must be made in such manner and in accordance with such
         rules as may be prescribed for this purpose by the Company (including
         by means of a voice response or other electronic system under
         circumstances authorized by the Company).

3.1.3    End of Eligibility. An Employee or Non-Employee Director who is in the
         Eligible Group may continue to participate as an Active Participant in
         the Plan for so long as the Plan remains in effect and he/she remains
         in the Eligible Group.

3.2      Elective Deferral Credits.

3.2.1    Elective Deferral Credits. Elective Deferral Credits will be made for
         each pay date on behalf of each Active Participant who has enrolled in
         the Plan and who thereby elects to have his/her Deferral Eligible
         Amounts reduced in order to receive Elective Deferral Credits. The
         Elective Deferral Credits for a given pay date will be given on or as
         soon as administratively practicable after the pay date in an amount
         equal the amount of the reduction in Deferral Eligible Amounts.

         An Employee who is in the Eligible Group may elect to reduce his/her
         Deferral Eligible Amounts by the following:

         (a)  Base Salary. With respect to base salary, for any payroll period,
              he/she may elect to reduce base salary for a payroll period by any
              dollar amount or whole percentage (or combination dollar amount
              and whole percentage), but not more than seventy-five percent
              (75%). A different percentage may be elected for payroll period
              ending within each calendar quarter of the Plan Year, subject to
              Sec. 3.2.2 regarding when the election is made and the
              irrevocability of the election during the Plan Year.

         (b)  Bonuses. With respect to annual incentive bonus, he/she may elect
              to reduce the annual incentive bonus by any dollar amount or whole
              percentage (or combination dollar amount and whole percentage),
              but not more than one-hundred percent (100%).

         (c)  Performance Incentive Award Plan Payments. With respect to
              payments under the Performance Incentive Award Plan (PIAP), he/she
              may elect to reduce the payment by any dollar amount or whole
              percentage (or combination dollar amount and whole percentage),
              but not more than one-hundred percent (100%).

         (d)  Other Amounts. With respect to other amounts that the Compensation
              Committee of the Board may determine are Deferral Eligible
              Amounts, the Compensation Committee will establish such minimum
              and maximum reduction amount as it may determine appropriate in
              its sole and absolute discretion.

                                      -6-

<PAGE>

         If an Employee who is in the Eligible Group elects to participate at
         any level for a Plan Year, his/her election must be such that the
         amount by which his/her Deferral Eligible Amounts for the Plan Year are
         expected to be reduced is two-thousand five-hundred dollars ($2,500).

         A Non-Employee Director who is in the Eligible Group may elect to
         reduce his/her Deferral Eligible Amounts by any dollar amount or whole
         percent (but not a combination thereof), but not more than one-hundred
         percent (100%).

         An election (or the modification or revocation of an election) must be
         made in such manner and in accordance with such rules as may be
         prescribed for this purpose by the Company (including by means of a
         voice response or other electronic system under circumstances
         authorized by the Company). An election must be made as part of
         enrollment described in Sec. 3.1.2. and may specify an investment
         election for purposes of Sec. 4.3.2, a scheduled distribution date for
         purposes of Sec. 6.1.1, and a payment form election for purposes of
         Sec. 6.1.2 or 7.2.2.

3.2.2    Elections are Irrevocable. An election will apply solely with respect
         to the given Plan Year - that is, an election will not automatically be
         carried over and applied to the next Plan Year. An election will be
         irrevocable throughout the Plan Year; except that:

         (a) Automatic Discontinuance. Elective Deferrals will automatically
             stop during the Plan Year:

             (i)   If the Participant receives a hardship withdrawal prior to
                   age 59 1/2 from his/her elective deferral account under the
                   Maytag Corporation Salary Savings Plan (or comparable account
                   under any other 401(k) arrangement maintained by the Company
                   or an Affiliate);

             (ii)  Upon Termination of Service or upon otherwise ceasing to be
                   within the Eligible Group; or

             (iii) Upon termination of the Plan.

         (b) Administrative Discretion. The Company may, in its sole discretion,
             allow a Participant to reduce or stop his/her Elective Deferrals
             during the Plan as necessary to alleviate a Financial Hardship.

3.2.3    Limits. The Company may, in its sole discretion, limit the minimum or
         maximum amount of Elective Deferrals that are allowed under the Plan by
         any Active Participant or any group of Active Participants.

3.3      Company Match Credits.

3.3.1    Company Performance Match Credits. Company Performance Match Credits
         will be made for each Plan Year on behalf of each Employee who elects
         to reduce his/her payments under the Performance Incentive Award Plan
         (PIAP) pursuant to this Plan, and further elects to have the resulting
         Company Performance Match Credits hypothetically invested in shares of

                                      -7-

<PAGE>

         common stock of the Company pursuant to Sec. 4.3. The Company
         Performance Match Credits for a Plan Year will be given not later than
         the first business day of the next Plan Year in an amount equal to
         ten-percent (10%) of the Elective Deferral Credits resulting from the
         election described above.

3.3.2    Company Make-Whole Match Credits. Company Make-Whole Match Credits will
         be made for each Plan Year on behalf of each Employee who receives
         Elective Deferrals Credits for such Plan Year, and whose employer
         matching contributions or allocations under the Maytag Employee Stock
         Ownership Plan ("ESOP") are reduced because of the reduction in taxable
         compensation resulting from an election under this Plan. The Company
         Make-Whole Match Credits for a Plan Year will be given not later than
         the first business day of the next Plan Year in an amount equal to the
         difference between the amount of the employer matching contributions or
         allocations that would have been made under the ESOP if his/her taxable
         compensation had not been reduced as a result of the election under
         this Plan (disregarding the impact such additional matching
         contributions or allocations would have had on the nondiscrimination
         test under Codess.401(m)), and the actual amount of employer matching
         contributions or allocations made under the ESOP for the Plan Year.

                                   ARTICLE IV

                       ACCOUNTS AND INVESTMENT ADJUSTMENTS

4.1      Accounts.

4.1.1    Types of Accounts. The following Accounts will be maintained under the
         Plan on behalf of each Participant:

         (a)  "Elective Deferral Account" to reflect any Elective Deferral
              Credits with respect to the Participant.

         (b)  "Company Make-Whole Match Account" to reflect any Company
              Make-Whole Match Credits with respect to the Participant.

         (b)  "Company Performance Match Account" to reflect any Company
              Make-Whole Match Account with respect to the Participant.

         A separate Elective Deferral Account, Company Make-Whole Match and
         Company Performance Match Account will be maintained for each Plan Year
         for which credits of that type are added on behalf of the Participant,
         and a separate Elective Deferral Account also will be maintained to
         reflect any Elective Deferral Credits that result in a Company
         Performance Match Credit under Sec. 3.3.1.

         Additional Accounts may also be maintained if considered appropriate by
         the Company in the administration of the Plan.

                                      -8-

<PAGE>

4.1.2    Balance of Accounts. Accounts will have a cash balance expressed in
         United States Dollars.

4.1.3    Accounts for Bookkeeping Only. Accounts are for bookkeeping purposes
         only and the maintenance of Accounts will not require any segregation
         of assets of the Company or any Participating Affiliate. Neither the
         Company nor any Participating Affiliate will have any obligation
         whatsoever to set aside funds for the Plan or for the benefit of any
         Participant or Beneficiary, and no Participant or Beneficiary will have
         any rights to any amounts that may be set aside other than the rights
         of an unsecured general creditor of the Company or Participating
         Affiliate that employs (or employed) the Participant.

4.2      Valuation of Accounts.

4.2.1    Daily Adjustments. Accounts will be adjusted from time to time as
         follows:

         (a)  Elective Deferral and Company Match Credits. Elective Deferral
              Credits, Company Make-Whole Match Credits and Company Performance
              Match Credits will be added to the balance of the appropriate
              Account as of the dates specified in Secs. 3.2 and 3.3.

         (b)  Earnings Credits. Earnings Credits will be added to (or
              subtracted) from the balance of the Account as of each Valuation
              Date as provided in Sec. 4.3.

         (c)  Distributions. The distributions made from an Account will be
              subtracted from the balance of the Account as of the date the
              distribution is made from the Plan.

4.2.2    Processing Transactions Involving Accounts. Accounts will be adjusted
         to reflect Elective Deferral Credits, Company Make-Whole Match Credits,
         Company Performance Match Credits, Earnings Credits, distributions and
         other transactions as provided in Sec. 4.2.1. However, all information
         necessary to properly reflect a given transaction in an Account may not
         be immediately available, in which case the transaction will be
         reflected in the Account when such information is received and
         processed. Further, the Company reserves the right to delay the
         processing of any Elective Deferral Credit, Company Make-Whole Match
         Credit, Company Performance Match Credit, Earnings Credit, distribution
         or other transaction for any legitimate business reason (including, but
         not limited to, failure of systems or computer programs, failure of the
         means of the transmission of data, force majeure, the failure of a
         service provider to timely receive net asset values or prices, or to
         correct for its errors or omissions or the errors or omissions of any
         service provider).

4.3      Earnings Credits.

4.3.1    Adjustment to Reflect Earnings Credits. Accounts will be adjusted
         (increased or decreased) as of each Valuation Date to reflect Earnings
         Credits as determined under Sec. 4.3.2.

                                      -9-

<PAGE>

4.3.2    Earnings Credits. The Company will establish a procedure by which a
         Participant (or Beneficiary following the death of a Participant) may
         elect to have his/her Earnings Credits determined based the performance
         of one or more investment options deemed to be available under the
         Plan. The Investment Committee of the Company, in its sole discretion,
         will determine the investment options that will be available as
         benchmarks for determining the Earnings Credit, which may include
         mutual funds, common or commingled investment funds or any other
         investment option deemed appropriate by the Company, and will include a
         fund that invests in common stock of Maytag Corporation. The
         Investment Committee of the Company may at any time and from time to
         time add to or remove from the investment options deemed to be
         available under the Plan.

         A Participant (or Beneficiary following the death of the Participant)
         will be allowed on a hypothetical basis to direct the investment of
         his/her Account among the investment options available under the Plan.
         Hypothetical investment directions may be given with such frequency as
         is deemed appropriate by the Company, and must be made in such
         percentage or dollar increments, in such manner and in accordance with
         such rules as may be prescribed for this purpose by the Company
         (including by means of a voice response or other electronic system
         under circumstances so authorized by the Company). If an investment
         option has a loss, the Earnings Credit attributable to such investment
         option will serve to reduce the Account; similarly, if an investment
         option has a gain, the Earnings Credit attributable to such investment
         option will serve to increase the Account. If the Participant fails to
         elect an investment option, the Earnings Credit will be based on a
         money market investment option or such other investment option as may
         be selected for this purpose by the Investment Committee of the
         Company.

         Notwithstanding any contrary provision, a Company Performance Match
         Account and the Elective Deferral Account that reflects the Elective
         Deferral Credits that resulted in the Company Performance Match Credit
         reflected in the Company Performance Match Account will be invested in
         the fund that invests in common stock of Maytag Corporation until such
         time as the Company Performance Match Account is fully vested under
         Sec. 5.2.

4.3.3    Hypothetical Investments. All investment directions of a Participant or
         Beneficiary will be on a "hypothetical" basis for the sole purpose of
         establishing the Earnings Credit for his/her Account - that is, the
         Account will be adjusted for Earnings Credits as if the Account were
         invested pursuant to the investment directions of the Participant or
         Beneficiary, but actual investments need not be made pursuant to such
         directions. However, the Company, in its sole discretion and without
         any obligation, may direct that investments be made per the investment
         directions of Participants and Beneficiaries in order to hedge the
         liability of the Company and Participating Affiliates.

4.4      Statements.

4.4.1    Statements. The Company may cause benefit statements to be issued from
         time to time advising Participants and Beneficiaries of the balance
         and/or investment of their Accounts, but it is not required to issue
         benefits statements.

                                      -10-

<PAGE>

4.4.2    Errors on Statements and Responsibility to Review. The Company may
         correct errors that appear on benefit statements at any time, and the
         issuance of a benefit statement (and any errors that may appear on a
         statement) will not in any way alter or affect the rights of a
         Participant or Beneficiary with respect to the Plan.

         Each Participant or Beneficiary has a duty to promptly review each
         benefit statement and to notify the Company of any error that appears
         on such statement within thirty (30) days of the date such statement is
         provided or made available to the Participant or Beneficiary (for
         example, the date the statement is sent by mail, or the date the
         statement is provided or made available electronically). If a
         Participant or Beneficiary fails to review a benefit statement or fails
         to notify the Company of any error that appears on such statement
         within such period of time, he/she will not be able to bring any claim
         seeking relief or damages based on the error.

                                    ARTICLE V

                                     VESTING

5.1      Fully Vested Accounts. A Participant at all times will have a fully
         vested interest in his/her Elective Deferral Account and Company
         Make-Whole Match Account.

5.2      Accounts Subject to Vesting Schedule.

5.2.1    Vesting Based on Occurrence of Certain Events. A Participant will
         obtain a fully vested interest in his/her Company Performance Match
         Account upon the occurrence of any of the following events:

         (a)   Death or Disability. The Participant's death or Disability while
               employed with the Company or an Affiliate (while it is an
               Affiliate);

         (b)   Retirement. The Participant's Termination of Service under
               circumstances that qualify as a Retirement; or

         (c)   Change in Control. Change in Control while the Participant is
               employed with the Company or an Affiliate (while it is an
               Affiliate).

5.2.2    Vesting Based on Service. A Participant also will obtain a fully vested
         interest in his/her Company Performance Match Account as of the date
         that is three (3) years from the Company Performance Match Credit
         provided he/she has been an Employee throughout that three (3) year
         period.

                                      -11-

<PAGE>

5.2.3    Forfeitures. If a Participant has a Termination of Service before
         he/she is fully vested in his/her Company Performance Match Account,
         he/she will permanently forfeit the balance of such Account.

                                   ARTICLE VI

                           WITHDRAWALS WHILE EMPLOYED

6.1      Scheduled Withdrawals

6.1.1    Time of Distribution. A Participant may specify the year in which the
         balance of an Account will be distributed while the Participant remains
         an Employee or member of the Board, provided that the year specified
         must be more than two (2) years after the Plan Year for which the
         Account is established under the Plan, or, in the case of a Company
         Performance Match Account, the year after the Account will become fully
         vested under Sec. 5.2.2 (vesting occurs three (3) years from the date
         the credit is added to the Account).

         A scheduled distribution will be made (or installment distributions
         will commence if installments are available and elected) in January of
         the scheduled distribution year, or as soon as administratively
         practicable thereafter.

         A Participant may defer the scheduled distribution year of an Account
         one time (plus a second time with the express approval of the ERISA
         Executive Committee, which it may grant or deny in its sole and
         absolute discretion), but otherwise, the election of a scheduled
         distribution year will be irrevocable. Any deferred distribution year
         must be at least two (2) years after the scheduled distribution year.

6.1.2    Form of Distribution. If the balance of a Participant's Account does
         not exceed twenty-five thousand dollars ($25,000) at the time of a
         scheduled distribution, the full balance of the Account will be paid in
         a single-sum. Otherwise, a distribution will be made in either of the
         following forms as elected by the Participant:

               (a) A single-sum distribution of the full balance of the
               Participant's Account; or

               (b) A series of annual installments over a period of two (2) to
               five (5) years as elected by the Participant. The first annual
               installment will equal, one-half (1/2), one-third (1/3/rd/),
               one-fourth (1/4/th/) or one-fifth (1/5/th/), as appropriate, of
               the balance of the Account as of the last day of the Plan Year
               prior to the Plan Year in which the installment is to be paid,
               with the denominator of the fraction reduced by one each year.
               However, the installment for the final year will equal the full
               remaining balance of the Account.

                                      -12-

<PAGE>

         A Participant can make a separate distribution election with respect to
         each Account maintained on his/her behalf under the Plan.

6.1.3    Distribution Election Procedures. A scheduled distribution date
         election (and an election to defer the scheduled distribution date)
         must be made in such manner and in accordance with such rules as may be
         prescribed for this purpose by the Company (including by means of a
         voice response or other electronic system under circumstances
         authorized by the Company).

         A distribution election will be effective only if it is received in
         properly completed form by the Company as part of the enrollment for
         the Plan Year for which the Account being distributed is established,
         and an election to defer will be effective only if it is received in
         properly completed form at least twelve (12) months prior to the
         January of the originally scheduled distribution year.

6.1.4    Effect of Termination of Service. A scheduled distribution will not be
         made if preceded by the Participant's Termination of Service, in which
         case, distributions will be determined under Article VII.

6.2      Financial Hardship Withdrawal. A Participant may make a withdrawal from
         his/her Accounts in the event of a Financial Hardship. Such
         distribution will be paid as soon as administratively practicable after
         the distribution request is received and the ERISA Executive Committee,
         in its sole discretion, has determined that the Participant has a
         Financial Hardship.

         The Elective Deferrals of the Participant will automatically stop in
         the event of a distribution for Financial Hardship, and the Participant
         will not be allowed to again enroll until the first day of the second
         Plan Year following the date of the distribution.

         A "financial hardship" for this purpose means a sudden and unexpected
         illness or accident of the Participant or his/her dependent (as defined
         in Code ss. 152(a)), property casualty loss to the Participant, or
         other similar extraordinary and unforeseeable circumstances of the
         Participant arising as a result of events beyond the control of the
         Participant, which is not covered by insurance and may not be relieved
         by the liquidation of other assets provided that such liquidation would
         not cause a Financial Hardship, and which is determined to qualify as a
         Financial Hardship by the ERISA Executive Committee. Cash needs arising
         from foreseeable events such as the purchase of a residence or
         education expenses for children will not, alone, be considered a
         Financial Hardship.

                                      -13-

<PAGE>

                                   ARTICLE VII

                         DISTRIBUTIONS AFTER TERMINATION

7.1    Benefit On Termination of Service. A Participant will be eligible to
       receive a distribution of the full balance of his/her Accounts
       following his/her Termination of Service in accordance with the terms
       of this Article.

7.2    Time and Form of Distribution.

7.2.1  Time of Distribution. A distribution will be made (or installment
       distributions will commence if installments are available and elected)
       at the following time:

       (a)  Retirement or Disability. In the case of Retirement or Disability,
            a distribution will be made (or commence) at the following time as
            elected by the Participant:

                    (1) In the calendar month following the Participant's
                Termination of Service, or as soon as administratively
                practicable thereafter; or

                    (2) In January of the year following the Participant's
                Termination of Service, or as soon as administratively
                practicable thereafter.

       (b)  Other Terminations. In the case of a Termination of Service other
            than Retirement or Disability, a distribution will be made (or
            commence) in the calendar month following Termination of Service,
            or as soon as administratively practicable thereafter.

7.2.2       Form of Distribution. A distribution will be made in the following
            form:

            (a) Retirement or Disability. In the case of Retirement or
            Disability, a distribution will be made in either of the following
            forms as elected by the Participant:

                    (1) A single-sum distribution of the full balance of the
                Participant's Account; or

                    (2) A series of annual installments over a period of five
                (5) or ten (10) years as elected by the Participant. The first
                annual installment will equal one-fifth (1/5/th/) or one-tenth
                (1/10/th/), as appropriate, of the balance of the Account as of
                the last day of the Plan Year prior to the Plan Year in which
                the installment is to be paid, with the denominator of the
                fraction educed by one each year. However, the installment for
                the final year will equal the full remaining balance of the
                Account.

                                      -14-

<PAGE>

               A Participant can make a separate distribution election with
               respect to each Account maintained on his/her behalf under the
               Plan.

               (b) Other Terminations. In the case of a Termination of Service
               other than Retirement or Disability, a distribution will be in
               the form of a single-sum distribution of the full balance of the
               Participant's Account. However, the ERISA Executive Committee
               may, in its sole and absolute discretion, elect to make a
               distribution in the form of annual installments over a period of
               up to three (3) years.

7.2.3    Distribution Election Procedures. A distribution election must be made
         in such manner and in accordance with such rules as may be prescribed
         for this purpose by the Company (including by means of a voice response
         or other electronic system under circumstances authorized by the
         Company).

         A distribution election will be effective only if it is received in
         properly completed form by the Company as part of the enrollment for
         the Plan Year for which the Account being distributed is established,
         or thereafter at least twelve (12) months prior to Termination of
         Service.

7.2.4    Default Elections. If a Participant fails to file a timely election as
         to the time or form of distribution in the event of a Retirement or
         Disability, the distribution will be made in a series of monthly
         installments over a period of ten (10) years (if no election is made as
         to form) starting in the calendar month following Termination of
         Service, or as soon as administratively practicable thereafter (if no
         election is made as to time).

7.3      Cash-out of Small Accounts. Notwithstanding any contrary provision, if
         the balance of a Participant's Accounts does not exceed twenty-five
         thousand dollars ($25,000) at Termination of Service, the full balance
         will be paid in a single-sum distribution in full settlement of all
         obligations under the Plan. The payment will be made as of the date
         specified in Sec. 7.2.1 or 7.2.4, as applicable.

7.4      Valuation of Accounts Following Termination of Service. An Account will
         continue to be credited with Earnings Credits in accordance with
         Article IV until it is paid in full to the Participant or Beneficiary.

                                  ARTICLE VIII

                            DISTRIBUTIONS AFTER DEATH

8.1      Survivor Benefits.

8.1.1    Survivor Benefits - General. If a Participant dies prior to the full
         distribution of his/her Accounts, his/her Beneficiary will be entitled
         to a survivor benefit under the Plan. The survivor benefit will consist
         of a single lump-sum payment in an amount equal to the total

                                      -15-

<PAGE>

         balance (or total remaining balance) in the Accounts. The survivor
         benefit will be paid on or as soon as administratively practicable
         after the Company determines that a death benefit is payable under the
         Plan - that is, the date the Company is provided with the documentation
         reasonably necessary to establish the fact of death of the Participant
         and the identity and entitlement of the Beneficiary.

8.1.2    Special Rule if Death Occurs During Installment Pay-out.
         Notwithstanding any contrary provision, if the Participant dies while
         he/she is receiving installments under Sec. 7.2.2(a), such installments
         will continue to his/her Beneficiary over the same period such
         installments would have been paid to the Participant. However, the
         ERISA Executive Committee may, in its sole discretion, elect to pay the
         survivor benefit in a single lump sum payment in an amount equal to the
         remaining balance in the Accounts in full satisfaction of the benefit
         otherwise payable under the Plan.

8.2      Beneficiary Designation.

8.2.1    General Rule. A Participant may designate any person (natural or
         otherwise, including a trust) as his/her Beneficiary to receive any
         balance remaining in his/her Accounts when he/she dies, and may change
         or revoke a designation previously made without the consent of any
         Beneficiary.

8.2.2    Special Requirements for Married Participants. If a Participant has a
         Spouse at the time of death, such Spouse will be his/her Beneficiary
         unless the Spouse has consented in writing to the designation of a
         different Beneficiary. Consent of a Spouse will be deemed to have been
         obtained if it is established to the satisfaction of the Company that
         such consent cannot be obtained because the Spouse cannot be located. A
         consent by a Spouse will be effective only with respect to such Spouse,
         and cannot be revoked. A Beneficiary designation that has received
         spousal consent cannot be changed without spousal consent.

         A Beneficiary designation will be automatically revoked upon marriage
         (other than common law marriage) of a Participant unless the new Spouse
         was designated as Beneficiary. Further, if a Spouse is designated as
         Beneficiary, such designation will be automatically revoked upon the
         divorce of the Participant and former Spouse.

8.2.3    Form and Method of Designation. A Beneficiary designation must be made
         on such form and in accordance with such rules as may be prescribed for
         this purpose by the Company. A Beneficiary designation will be
         effective (and will revoke all prior designations) if it is received by
         the Company (or if sent by mail, the post-mark of the mailing is) prior
         to the date of death of the Participant. The Company may rely on the
         latest Beneficiary designation on file (or if an effective designation
         is not on file may direct that payment be made pursuant to the default
         provision of the Plan) and will not be liable to any person making
         claim for such payment under a subsequently filed designation or for
         any other reason.

                                      -16-

<PAGE>

8.2.4    Default Designation. If a Beneficiary designation is not on file, or if
         a Beneficiary designation is revoked by divorce or otherwise and a new
         designation is not on file at death, or if no designated Beneficiary
         survives the Participant, the Beneficiary will be the following:

         (a)  Surviving Spouse. The Participant's Spouse (if surviving);

         (b)  Estate. Otherwise, the Participant's estate.

8.3      Successor Beneficiary. If the primary Beneficiary dies prior to
         complete distribution of the benefits under Sec. 8.1.2, the remaining
         Account balance will be paid to the contingent Beneficiary elected by
         the Participant in the form of a lump sum payable as soon as
         administratively practicable after the primary Beneficiary's death is
         established. If there is no surviving contingent Beneficiary, the lump
         sum will be paid to the estate of the primary Beneficiary.

                                   ARTICLE IX

                       CONTRACTUAL OBLIGATIONS AND FUNDING

9.1      Contractual Obligations.

9.1.1    Obligations of Employer. The Plan creates a contractual obligation on
         the part of the Company and each Participating Affiliate to provide
         benefits as set forth in the Plan with respect to:

         (a)  Current Employees. Participants who are employed with the Company
              or that Participating Affiliate;

         (b)  Former Employees. Participants who were employed with the Company
              or that Participating Affiliate prior to Termination of Service;
              and

         (c)  Beneficiaries. Beneficiaries of the Participants described in (a)
              and (b).

         A Participating Affiliate is not responsible for (and has no
         contractual obligation with respect to) benefits payable to a
         Participant who is or was employed with the Company or another
         Participating Affiliate. If a Participant is employed with two or more
         employers (the Company and a Participating Affiliate, or two or more
         Participating Affiliates, etc.), either concurrently or at different
         times, each will be responsible for the benefit attributable to
         Elective Deferral Credits, Company Make-Whole Match Credits and Company
         Performance Match Credits made with respect to the period while the
         Participant was employed with that employer, adjusted for Earnings
         Credits.

                                      -17-

<PAGE>

9.1.2    Guarantee by Company. The Company will guarantee and assume secondary
         liability for the contractual commitment of each Participating
         Affiliate under Sec. 9.1.1.

9.2      Funding. The ERISA Executive Committee, in its sole and absolute
         discretion, may direct that a "rabbi" trust be established to fund
         benefits payable under the Plan. However, even if such a trust is
         established, neither the Company nor any Participating Affiliate will
         have any obligation to fund such trust; and, if so provided by the
         trust instrument, such trust may be revocable at any time prior to a
         Change in Control. The establishment and funding of a rabbi trust will
         not affect the obligations of the Company and Participating Affiliates
         under Sec. 9.1, except that such obligations will be offset to the
         extent that payments actually are made from the trust to the
         Participant or Beneficiary. The trust will be invested in the manner
         directed by the Investment Committee of the Company.

                                    ARTICLE X

                        AMENDMENT AND TERMINATION OF PLAN

10.1     Right to Amend or Terminate. The Company may amend or terminate the
         Plan at any time and for any reason by action of the following:

          (a)  Board of Directors. By action of the Board or its Compensation
               Committee.

          (b)  ERISA Executive Committee or Chief Executive Officer. By action
               of the ERISA Executive Committee or the Chief Executive Officer
               of the Company, provided the amendment does not have a material
               cost impact to the Company and its Participating Affiliates.
               Whether an amendment will have a material cost impact will be
               determined by the ERISA Executive Committee in its sole and
               absolute discretion, using such standard for materiality and such
               measurement method for cost as it deems appropriate.

         However, during the twenty-four (24) months immediately following a
         Change in Control, the amendment or termination of the Plan will
         require the written consent of a majority of the Participants who would
         be affected by such amendment or termination of the Plan.

10.2     Effect of Termination.

10.2.1   No Negative Effect an Balances or Vesting. An amendment or termination
         of the Plan may not have the effect of reducing the balance of the
         Account or the vested percentage of any Participant or Beneficiary.

10.2.2   Other Effects of Termination. After termination of the Plan, no
         additional credits will be added to the Account of any Participant
         attributable to periods after the date of termination.

                                      -18-

<PAGE>

         All Accounts will be fully vested as of the termination date of the
         Plan.

         Distribution following termination of the Plan will be made at the same
         time and in the same form as if the termination had not occurred, and a
         Participant will continue to have the same options available to him/her
         to defer distribution as otherwise provided under the Plan. However, if
         so elected by a majority of the Participants who have Accounts at
         termination of the Plan (including Participants or Beneficiaries who
         are receiving installments), the termination of the Plan will be
         treated as a Termination of Service and each Participant or Beneficiary
         will receive a single sum payment of the full balance of his/her
         Account in full satisfaction of all obligations under the Plan and
         without regard to any distribution elections in place with respect to
         such Participant or Beneficiary.

                                   ARTICLE XI

                                 ADMINISTRATION

11.1     Administration.

11.1.1   Company. The Company is the administrator of the Plan with authority to
         control and manage the operation and administration of the Plan and
         make all decisions and determinations incident thereto. Action on
         behalf of the Company as administrator may be taken by any of the
         following:

         (a)   ERISA Executive Committee. The ERISA Executive Committee of the
               Company will be responsible for selecting the Employees who are
               eligible to participate in the Plan, and make all determination
               expressly specified in the Plan.

         (b)   Policy and Oversight Committee. The Policy and Oversight
               Committee of the Company is responsible for all matters relating
               to the overall and day-to-day administration of the Plan, and the
               selection and monitoring of non-investment service providers
               (including the selection of recordkeeper) with respect to the
               Plan.

         (c)   Investment Committee. The Investment Committee of the Company is
               responsible for all investment matters relating to the Plan,
               including the selection of the funds available for hypothetical
               investments by Participants and Beneficiaries, and the actual
               investment of assets that may (but are not required to be) set
               aside to hedge liabilities resulting from the Plan, and actual
               investment of any rabbi trust assets if such a trust is
               established and funded, including the selection and monitoring
               investment providers (including the Trustee) with respect to the
               Plan.

         Day-to-day non-discretionary administration of the Plan may be
         performed by the Human Resources Department.

                                      -19-

<PAGE>

11.1.2   Third-Party Service Providers. The Company may from time to time
         contract with or appoint a recordkeeper or other third-party service
         provider for the Plan. Any such recordkeeper or other third-party
         service provider will serve in a non-discretionary capacity and will
         act in accordance with directions given and/or procedures established
         by the Company.

11.1.3   Rules of Procedure. The Company may establish, adopt or revise such
         rules and regulations as it may deem necessary or advisable for the
         administration of the Plan.

11.2     Correction of Errors and Duty to Review Information.

11.2.1   Correction of Errors. Errors may occur in the operation and
         administration of the Plan. The Company reserves the right to cause
         such equitable adjustments to be made to correct for such errors as it
         considers appropriate (including adjustments to Participant or
         Beneficiary Accounts), which will be final and binding on the
         Participant or Beneficiary.

11.2.2   Participant Duty to Review Information. Each Participant and
         Beneficiary has the duty to promptly review any information that is
         provided or made available to the Participant or Beneficiary and that
         relates in any way to the operation and administration of the Plan or
         his/her elections under the Plan (for example, to review payroll stubs
         to make sure a contribution election is being implemented
         appropriately, to review benefit statements to make sure investment
         elections are being implemented appropriately, to review summary plan
         descriptions and prospectuses, etc.) and to notify the Company of any
         error made in the operation or administration of the Plan that affects
         the Participant or Beneficiary within thirty (30) days of the date such
         information is provided or made available to the Participant or
         Beneficiary (for example, the date the information is sent by mail or
         the date the information is provided or made available electronically).
         If the Participant or Beneficiary fails to review any information or
         fails to notify the Company of any error within such period of time,
         he/she will not be able to bring any claim seeking relief or damages
         based on the error.

         If the Company is notified of an alleged error within the thirty (30)
         day time period, the Company will investigate and either correct the
         error or notify the Participant or Beneficiary that it believes that no
         error occurred. If the Participant or Beneficiary is not satisfied with
         the correction (or the decision that no correction is necessary),
         he/she will have sixty (60) days from the date of notification of the
         correction (or notification of the decision that no correction is
         necessary), to file a formal claim under the claims procedures under
         Sec. 11.3

11.3     Claims Procedure

11.3.1   Claims Procedure. If a Participant or Beneficiary does not feel as if
         he/she has received full payment of the benefit due such person under
         the Plan, the Participant or Beneficiary may file a written claim with
         the Company setting forth the nature of the benefit claimed, the amount
         thereof, and the basis for claiming entitlement to such benefit. The
         ERISA Executive Committee will determine the validity of the claim and
         communicate a

                                      -20-

<PAGE>

         decision to the claimant promptly and, in any event, not later than
         ninety (90) days after the date of the claim. The claim may be deemed
         by the claimant to have been denied for purposes of further review
         described below in the event a decision is not furnished to the
         claimant within such ninety (90) day period. If additional information
         is necessary to make a determination on a claim, the claimant will be
         advised of the need for such additional information within forty-five
         (45) days after the date of the claim. The claimant will have up to one
         hundred and eighty (180) days to supplement the claim information, and
         the claimant will be advised of the decision on the claim within
         forty-five (45) days after the earlier of the date the supplemental
         information is supplied or the end of the one hundred and eighty (180)
         day period.

         A claim for benefits which is denied will be denied by written notice
         setting forth in a manner calculated to be understood by the claimant:

         (a)  Reason for Denial. The specific reason or reasons for the denial,
              including a specific reference to any provisions of the Plan
              (including any internal rules, guidelines, protocols, criteria,
              etc.) on which the denial is based;

         (c)  Information Necessary to Process. A description of any additional
              material or information that is necessary to process the claim;
              and

         (d)  Explanation of Review Procedures. An explanation of the procedure
              for further reviewing the denial of the claim.

11.3.2   Review Procedures. Within sixty (60) days after the receipt of a denial
         on a claim, a claimant or his/her authorized representative may file a
         written request for review of such denial. Such review will be
         undertaken by the ERISA Executive Committee and will be a full and fair
         review. The claimant will have the right to review all pertinent
         documents. The ERISA Executive Committee will issue a decision not
         later than sixty (60) days after receipt of a request for review from a
         claimant unless special circumstances, such as the need to hold a
         hearing, require a longer period of time, in which case a decision will
         be rendered as soon as possible but not later than one hundred and
         twenty (120) days after receipt of the claimant's request for review.
         The decision on review will be in writing and will include specific
         reasons for the decision written in a manner calculated to be
         understood by the claimant with specific reference to any provisions of
         the Plan on which the decision is based.

11.3.3   Arbitration. If a Participant or Beneficiary follows the claims
         procedure but his/her final appeal is denied, he/she will have one year
         to file an arbitration action with respect to that claim, and failure
         to meet the one-year deadline will extinguish his/her right to file an
         arbitration action with respect to that claim.

         Any claim, dispute or other matter in question of any kind relating to
         this Plan which is not resolved by the claims procedures will be
         settled by arbitration in accordance with the employment dispute
         resolution rules of the American Arbitration Association. Notice of

                                      -21-

<PAGE>

         demand for arbitration will be made in writing to the opposing party
         and to the American Arbitration Association within one year after the
         claim, dispute or other matter in question has arisen. In no event will
         a demand for arbitration be made after the date when the applicable
         statute of limitations would bar the institution of a legal or
         equitable proceeding based on such claim, dispute or other matter in
         question. The decision of the arbitrator(s) will be final and may be
         enforced in any court of competent jurisdiction.

         The arbitrator(s) may award reasonable fees and expenses to the
         prevailing party in any dispute hereunder and will award reasonable
         fees and expenses in the event that the arbitrator(s) find that the
         losing party acted in bad faith or with intent to harass, hinder or
         delay the prevailing party in the exercise of its rights in connection
         with the matter under dispute.

11.4     Indemnification. The Company and the Participating Affiliates jointly
         and severally agree to indemnify and hold harmless, to the extent
         permitted by law, each director, officer, and employee against any and
         all liabilities, losses, costs, or expenses (including legal fees) of
         whatsoever kind and nature that may be imposed on, incurred by, or
         asserted against such person at any time by reason of such person's
         services in the administration of 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.

11.5     Exercise of Authority. The Company, the Board, the Compensation
         Committee of the Board, the ERISA Executive Committee, the Policy and
         Oversight Committee, the Investment Committee and any person who has
         authority with respect to the management, administration or investment
         of the Plan may exercise that authority in its/his/her full discretion.
         This discretionary authority includes, but is not limited to, the
         authority to make any and all factual determinations and interpret all
         terms and provisions of this document (or any other document
         established for use in the administration of the Plan) relevant to the
         issue under consideration. The exercise of authority will be binding
         upon all persons; and it is intended that the exercise of authority be
         given deference in all courts of law to the greatest extent allowed
         under law, and that it not be overturned or set aside by any court of
         law unless found to be arbitrary and capricious.

11.6     Telephonic or Electronic Notices and Transactions. Any notice that is
         required to be given under the Plan to a Participant or Beneficiary,
         and any action that can be taken under the Plan by a Participant or
         Beneficiary (including enrollments, changes in deferral percentages,
         loans, withdrawals, distributions, investment changes, consents, etc.),
         may be by means of voice response or other electronic system to the
         extent so authorized by the Company.

                                   ARTICLE XII

                                  MISCELLANEOUS

12.1     Nonassignability. Neither the rights of, nor benefits payable to, a
         Participant or Beneficiary under the Plan may be alienated, assigned,
         transferred, pledged or

                                      -22-

<PAGE>

         hypothecated by any person, at any time, or to any person whatsoever.
         Such interest and benefits will be exempt from the claims of creditors
         or other claimants of the Participant or Beneficiary and from all
         orders, decrees, levies, garnishments or executions to the fullest
         extent allowed by law.

12.2     Withholding. A Participant must make appropriate arrangements with the
         Company or Participating Affiliate for satisfaction of any federal,
         state or local income tax withholding requirements and Social Security
         or other employee tax requirements applicable to the payment of
         benefits under the Plan. If no other arrangements are made, the Company
         or Participating Affiliate may provide, at its discretion, for such
         withholding and tax payments as may be required, including, without
         limitation, by the reduction of other amounts payable to the
         Participant.

12.3     Successors of the Company. The rights and obligations of the Company
         under the Plan will inure to the benefit of, and will be binding upon,
         the successors and assigns of the Company.

12.4     Employment Not Guaranteed. Nothing contained in the Plan nor any action
         taken hereunder will be construed as a contract of employment or as
         giving any Participant any right to continued employment with the
         Company.

12.5     Gender, Singular and Plural. All pronouns and any variations thereof
         will be deemed to refer to the masculine, feminine, or neuter, as the
         identity of the person or persons may require. As the context may
         require, the singular may be read as the plural and the plural as the
         singular.

12.6     Captions. The captions of the articles, paragraphs and sections of this
         document are for convenience only and will not control or affect the
         meaning or construction of any of its provisions.

12.7     Validity. In the event any provision of the Plan is held invalid, void
         or unenforceable, the same will not affect, in any respect whatsoever,
         the validity of any other provisions of the Plan.

12.8     Waiver of Breach. The waiver by the Company of any breach of any
         provision of the Plan will not operate or be construed as a waiver of
         any subsequent breach by that Participant or any other Participant.

12.9     Notice. Any notice or filing required or permitted to be given to the
         Company or the Participant under this Agreement will be sufficient if
         in writing and hand-delivered, or sent by registered or certified mail,
         in the case of the Company, to the principal office of the Company,
         directed to the attention of the Company, and in the case of the
         Participant, to the last known address of the Participant indicated on
         the employment records of the Company. Such notice will be deemed given
         as of the date of delivery or, if delivery is made by mail, as of the
         date shown on the postmark on the receipt for registration or

                                      -23-

<PAGE>

     certification. Notices to the Company may be permitted by electronic
     communication according to specifications established by the Company.
IN WITNESS WHEREOF, the Company has caused this Plan to be executed this
______________ day of ____ ____________, 20__.

                                              Maytag Corporation,
                                              a Delaware corporation

                                              By________________________________

                                              Title_____________________________

                                      -24-

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