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Exhibit 4.4    
    

	 	 	Delaware
The First State	 	 

        I,
HARRIET SMITH WINDSOR, SECRETARY OF STATE OF THE STATE OF DELAWARE, DO HEREBY CERTIFY THAT "SLM CORPORATION" IS DULY INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE AND IS IN
GOOD STANDING AND HAS A LEGAL CORPORATE EXISTENCE NOT HAVING BEEN CANCELLED OR DISSOLVED SO FAR AS THE RECORDS OF THIS OFFICE SHOW AND IS DULY AUTHORIZED TO TRANSACT BUSINESS. 

        THE
FOLLOWING DOCUMENTS HAVE BEEN FILED: 

        CERTIFICATE
OF INCORPORATION, FILED THE THIRD DAY OF FEBRUARY, A.D. 1997, AT 11 O'CLOCK A.M. 

        RESTATED
CERTIFICATE, FILED THE FIFTH DAY OF MAY, A.D. 1997, AT 3 O'CLOCK P.M. 

        RESTATED
CERTIFICATE, FILED THE SIXTH DAY OF AUGUST, A.D. 1997, AT 12:30 O'CLOCK P.M. 

        CERTIFICATE
OF DESIGNATION, FILED THE TWELFTH DAY OF NOVEMBER, A.D. 1999, AT 9 O'CLOCK A.M. 

        CERTIFICATE
OF AMENDMENT, FILED THE EIGHTEENTH DAY OF MAY, A.D. 2000, AT 11:30 O'CLOCK A.M. 

        CERTIFICATE
OF OWNERSHIP, CHANGING ITS NAME FROM "SLM HOLDING CORPORATION" TO "USA EDUCATION, INC.", FILED THE THIRTY-FIRST OF JULY, A.D. 2000, AT
2 O'CLOCK P.M. 

        CERTIFICATE
OF AMENDMENT, FILED THE TENTH DAY OF MAY, A.D. 2001, AT 12:45 O'CLOCK P.M. 

        CERTIFICATE
OF OWNERSHIP, CHANGING ITS NAME FROM "USA EDUCATION, INC." TO "SLM CORPORATION", FILED THE TWENTY-SECOND DAY OF FEBRUARY, A.D. 2002, AT
9 O'CLOCK A.M. 

        AND
I DO HEREBY FURTHER CERTIFY THAT THE EFFECTIVE DATE OF THE AFORESAID CERTIFICATE OF OWNERSHIP IS THE SEVENTEENTH DAY OF MAY, A.D. 2002, AT 9 O'CLOCK A.M. 

        CERTIFICATE
OF AMENDMENT, FILED THE FIFTEENTH DAY OF MAY, A.D. 2003, AT 4:26 O'CLOCK P.M. 

        AND
I DO HEREBY FURTHER CERTIFY THAT THE AFORESAID CERTFICATES ARE THE ONLY CERTIFICATES ON RECORD OF THE AFORESAID CORPORATION. 

        AND
I DO HEREBY FURTHER CERTIFY THAT THE ANNUAL REPORTS HAVE BEEN FILED TO DATE. 

        AND
I DO HEREBY FURTHER CERTIFY THAT THE FRANCHISE TAXES HAVE BEEN PAID TO DATE. 

	 	 	[SEAL]	 	/s/  HARRIET SMITH WINDSOR      
 Harriet Smith Windsor, Secretary of State
	

2693555    8310	
 	

 	
 	

AUTHENTICATION: 2528209
	

030462740	
 	

 	
 	

                        DATE: 07-15-03

	 	 	Delaware
The First State	 	 

        I,
HARRIET SMITH WINDSOR, SECRETARY OF STATE OF THE STATE OF DELAWARE, DO HEREBY CERTIFY THE ATTACHED ARE TRUE AND CORRECT COPIES OF ALL DOCUMENTS FILED FROM AND INCLUDING THE RESTATED
CERTIFICATE OF "SLM CORPORATION" AS RECEIVED AND FILED IN THIS OFFICE. 

        THE
FOLLOWING DOCUMENTS HAVE BEEN CERTIFIED: 

        RESTATED
CERTIFICATE, FILED THE SIXTH DAY OF AUGUST, A.D. 1997, AT 12:30 O'CLOCK P.M. 

        CERTIFICATE
OF DESIGNATION, FILED THE TWELFTH DAY OF NOVEMBER, A.D. 1999, AT 9 O'CLOCK A.M. 

        CERTIFICATE
OF AMENDMENT, FILED THE EIGHTEENTH DAY OF MAY, A.D. 2000, AT 11:30 O'CLOCK A.M. 

        CERTIFICATE
OF OWNERSHIP, CHANGING ITS NAME FROM "SLM HOLDING CORPORATION" TO "USA EDUCATION, INC.", FILED THE THIRTY-FIRST OF JULY, A.D. 2000, AT
2 O'CLOCK P.M. 

        CERTIFICATE
OF AMENDMENT, FILED THE TENTH DAY OF MAY, A.D. 2001, AT 12:45 O'CLOCK P.M. 

        CERTIFICATE
OF OWNERSHIP, CHANGING ITS NAME FROM "USA EDUCATION, INC." TO "SLM CORPORATION", FILED THE TWENTY-SECOND OF FEBRUARY, A.D. 2002, AT 9 O'CLOCK A.M. 

        AND
I DO HEREBY FURTHER CERTIFY THAT THE EFFECTIVE DATE OF THE AFORESAID CERTIFICATE OF OWNERSHIP IS THE SEVENTEENTH DAY OF MAY, A.D. 2002, AT 9 O'CLOCK A.M. 

        CERTIFICATE
OF AMENDMENT, FILED THE FIFTEENTH DAY OF MAY, A.D. 2003, AT 4:26 O'CLOCK P.M. 

	 	 	[SEAL]	 	/s/  HARRIET SMITH WINDSOR      
 Harriet Smith Windsor, Secretary of State
	

2693555    8100X	
 	

 	
 	

AUTHENTICATION: 2528208
	

030462740	
 	

 	
 	

                        DATE: 07-15-03

AMENDED AND RESTATED

CERTIFICATE OF INCORPORATION

OF  

 SLM HOLDING CORPORATION  

        SLM Holding Corporation, a corporation organized and existing under the laws of the State of Delaware (the "Corporation"), hereby certifies as follows: 

        (1)   The
name of the Corporation is SLM Holding Corporation. 

        (2)   The
name under which the Corporation was originally incorporated was SLM Holding Corporation and the original Certificate of Incorporation of the Corporation was filed
with the Secretary of State of the State of Delaware on February 3, 1997. 

        (3)   This
Amended and Restated Certificate of Incorporation was duly adopted by the Board of Directors of the Corporation and by the sole stockholder of the Corporation in
accordance with the provisions of Sections 228, 242 and 245 of the General Corporation Law of the State of Delaware. 

        (4)   This
Amended and Restated Certificate of Incorporation restates and integrates and further amends the Amended and Restated Certificate of Corporation. 

        (5)   The
Amended and Restated Certificate of Incorporation of the Corporation, upon its filing with the Secretary of State of the State of Delaware, shall read in its
entirety as follows: 

        FIRST: The name of the Corporation is SLM Holding Corporation (hereinafter the "Corporation"). 

        SECOND: The address of the registered office of the Corporation in the State of Delaware is 1209 Orange Street, in the City of
Wilmington, County of New Castle. The name of its registered agent at that address is The Corporation Trust Company. 

        THIRD: The purpose of the Corporation is to engage in any lawful act or activity for which a corporation may be organized under the
General Corporation Law of the State of Delaware as set forth in Title 8 of the Delaware Code (the "GCL"). 

        FOURTH: The total number of shares of stock which the Corporation shall have authority to issue is 270,000,000 shares of capital stock,
consisting of (i) 250,000,000 shares of common stock, par value $.20 per share (the "Common Stock"), and (ii) 20,000,000 shares of preferred stock, par value $.20 per share (the
"Preferred Stock"). 

        a.    Common Stock.    The powers, preferences and rights, and the qualifications, limitations
and restrictions, of the Common Stock are as follows: 

        (1)    Voting.    Except as otherwise expressly required by law or provided in this Certificate of Incorporation, and
subject to any voting rights provided to holders of Preferred Stock at any time outstanding, at each annual or special meeting stockholders, each holder of record of shares of Common Stock on the
relevant record date shall be entitled to cast one vote in person or by proxy for each share of the Common Stock standing in such holder's name on the stock transfer records of the Corporation;  provided,
 however, that at all elections of directors of the Corporation, each holder of record of
shares of Common Stock on the relevant record date shall be entitled to cast as many votes, in person or by proxy, which (except for this provision) such holder would be entitled to cast for the
election of directors with respect to its shares of stock multiplied by the number of directors to be elected at such election, and that such holder may cast all such votes for a single director or
may distribute them among the number to be voted for, or for any two or more of them as such holder sees fit. 

        (2)    Dividends.    Subject to the rights of the holders of Preferred Stock, and subject to any other provisions of
this Certificate of Incorporation, as it may be amended from time to time, holders of shares of Common Stock shall be entitled to receive such dividends and other 

 

distributions
in cash, stock or property of the Corporation when, as and if declared thereon by the Board of Directors from time to time out of assets or funds of the Corporation legally available
therefor. 

        (3)    Liquidation, Dissolution, etc.    In the event of any liquidation, dissolution or winding up (either voluntary
or involuntary) of the Corporation, the holders of shares of Common Stock shall be entitled
to receive the assets and funds of the Corporation available for distribution after payments to creditors and to the holders of any Preferred Stock of the Corporation that may at the time be
outstanding, in proportion to the number of shares held by them. 

        (4)    No Preemptive or Subscription Rights.    No holder of shares of Common Stock shall be entitled to preemptive or
subscription rights. 

        b.    Preferred Stock.    The Board of Directors is hereby expressly authorized to provide for
the issuance of all or any shares of the Preferred Stock in one or more classes or series, and to fix for each such class or series such voting powers, full or limited, or no voting powers, and such
designations, preferences and relative, participating, optional or other special rights and such qualifications, limitations or restrictions thereof, as shall be stated and expressed in the resolution
or resolutions adopted by the Board of Directors providing for the issuance of such class or series, including, without limitation, the authority to provide that any such class or series may be
(i) subject to redemption at such time or times and at such price or prices; (ii) entitled to receive dividends (which may be cumulative or non-cumulative) at such rates, on such
conditions, and at such times, and payable in preference to, or in such relation to, the dividends payable on any other class or classes or any other series; (iii) entitled to such rights upon
the dissolution of, or upon any distribution of the assets of, the Corporation; or (iv) convertible into, or exchangeable for, shares of any other class or classes of stock, or of any other
series of the same or any other class or classes of stock, of the Corporation at such price or prices or at such rates of exchange and with such adjustments; all as may be stated in such resolution or
resolutions. 

        c.    Power to Sell and Purchase Shares.    Subject to the requirements of applicable law, the
Corporation shall have the power to issue and sell all or any part of any shares of any class of stock herein or hereafter authorized to such persons, and for such consideration, as the Board of
Directors shall from time to time, in its discretion, determine, whether or not greater consideration could be received upon the issue or sale of the same number of shares of another class, and as
otherwise permitted by law. Unless approved by the affirmative vote of not less than a majority of the voting power of the shares of capital stock of the Corporation then entitled to vote at an
election of directors, the Corporation shall not take any action that would result in the acquisition by the Corporation, directly or indirectly, from any person or "group" (as defined in
Section 13(d) of the Securities Exchange Act of 1934) of five percent or more of the shares of Common stock issued and outstanding, at a price in excess of the prevailing market price of such
Common Stock, other than pursuant to a tender offer made to all stockholders or to all stockholders owning less than 100 shares of Common Stock. 

        d.    Limitation on Stockholder Rights Plan.    Notwithstanding any other powers set forth in
this Certificate of Incorporation, the Board of Directors shall not adopt a stockholders "rights plan" (which for this purpose shall mean any arrangement pursuant to which, directly or indirectly,
Common Stock or Preferred Stock purchase rights may be distributed to stockholders that provide all stockholders, other than persons who meet certain criteria specified in the arrangement, the right
to purchase the Common Stock or Preferred Stock at less than the prevailing market price of the Common Stock or Preferred Stock), unless (i) such rights plan is ratified by the affirmative vote
of a majority of the voting power of the shares of capital stock of the Corporation then entitled to vote at an election of directors at the next meeting (annual or special) of stockholders; 

2

 

(ii) by
its terms, such rights plan expires within thirty-seven (37) months from the date of its adoption, unless extended by the affirmative vote of a majority of the voting power of the
shares of capital stock of the Corporation then entitled to vote at an election of directors; and (iii) at any time the rights issued thereunder will be redeemed by the Corporation upon the
affirmative vote of a majority of the voting power of the shares of capital stock of the Corporation then entitled to vote at an election of directors. 

        FIFTH: Reserved. 

        SIXTH: The following provisions are inserted for the management of the business and the conduct of the affairs of the Corporation, and for
further definition, limitation and regulation of the powers of the Corporation and of its directors and stockholders: 

        a.     The
business and affairs of the Corporation shall be managed by or under the direction of the Board of Directors. 

        b.     The
directors shall have concurrent power with the stockholders to make, alter, amend, change, add to or repeal the By-Laws of the Corporation. 

	c.
	(1)    (i)    The
number of directors of the Corporation shall be fifteen (15). The number of directors of the Corporation shall be changed only by the affirmative
vote of not less than a majority of the voting power of the shares of capital stock of the Corporation then entitled to vote at an election of directors. Election of directors need not be by written
ballot unless the By-Laws so provide. 

        (ii)   Directors
may be removed with or without cause by a vote of the holders of shares entitled to vote at an election of directors at a duly called meeting of such holders,
provided that no director shall be
removed for cause except by the affirmative vote of not less than a majority of the voting power of the shares then entitled to vote at an election of directors, and provided further that if less than
the entire board of directors is to be removed, no director may be removed without cause if the votes cast against his removal would be sufficient to elect him if then cumulatively voted at an
election of the entire board of directors. 

        (iii)  Notwithstanding
the foregoing, whenever the holders of any one or more classes or series of Preferred Stock issued by the Corporation shall have the right, voting
separately by class or series, to elect directors at an annual or special meeting of stockholders, the election, term of office, filling of vacancies and other features of such directorships shall be
governed by the terms of this Certificate of Incorporation applicable thereto. 

        (2)   A
director shall hold office until the succeeding annual meeting (or special meeting in lieu thereof) and until his or her successor shall be elected and shall qualify,
subject, however, to prior death, resignation, retirement, disqualification or removal from office. 

        (3)   Any
vacancy on the Board of Directors, regardless of whether resulting from death, resignation, retirement, disqualification, removal from office or otherwise, may be
filled only by stockholders of the Corporation. 

        d.     No
director shall be personally liable to the Corporation or any of its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability
(i) for any breach of the director's duty of loyalty to the Corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a
knowing violation of law, (iii) pursuant to Section 174 of the GCL or (iv) for any transaction from which the director derived an improper personal benefit. Any repeal or
modification of this Article SIXTH by the stockholders of the Corporation shall not adversely affect any right or protection of a director of the Corporation 

3

 

existing
at the time of such repeal or modification with respect to acts or omissions occurring prior to such repeal or modification. 

        e.     In
addition to the powers and authority hereinbefore or by statute expressly conferred upon them, the directors are hereby empowered to exercise all such powers and do
all such acts and things as may be exercised or done by the Corporation, subject, nevertheless, to the provisions of the GCL, this Certificate of Incorporation, and any By-laws adopted by the
stockholders; provided, however, that no such action by the Board of Directors, unless approved by a majority of the voting shares of capital stock of the Corporation then entitled to vote at an
election of directors, shall amend, alter, change or repeal the right of stockholders as provided for in the By-Laws to call a special meeting of stockholders; and provided further that no By-Laws
hereafter adopted by the stockholders shall
invalidate any prior act of the directors which would have been valid if such By-Laws had not been adopted. 

        SEVENTH: Meetings of stockholders may be held within or without the State of Delaware, as the By-Laws may provide. The books of the
Corporation may be kept (subject to any provision contained in the GCL) outside the State of Delaware at such place or places as may be designated from time to time by the Board of Directors or in the
By-Laws of the Corporation. 

        EIGHTH: Any action required to be taken at any annual or special meeting of stockholders, or any action which may be taken at any annual
or special meeting of stockholders, may be taken without a meeting, without prior notice, and without a vote, if a consent or consents in writing, setting forth the action so taken, shall be signed by
holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were
present and voted and shall be delivered to the Corporation delivery to its registered office, its principal place of business or an officer or director of the Corporation having custody of the book
in which proceeding of meetings of members are recorded. 

        NINTH: Pursuant to §203(b)(1) of the GCL, the Corporation hereby expressly opts not to be governed by GCL §203. 

        TENTH: Any action by the Board of Directors to make, alter, amend, change, add to or repeal this Certificate of Incorporation shall be
approved by the affirmative vote of not less than a majority of the voting power of the shares of capital stock of the Corporation then entitled to vote at an election of directors. The Corporation
reserves the right to amend, alter, change or repeal any provision contained in this Certificate of Incorporation, in the manner now or hereafter prescribed by statute, and all rights conferred upon
stockholders herein are granted subject to this reservation. 

        IN WITNESS WHEREOF, the Corporation has caused this Amended and Restated Certificate of Incorporation to be executed on its behalf this
6th day of August, 1997. 

	 	SLM HOLDING CORPORATION
	

 	

By:	

/s/  ALBERT L. LORD      
 Albert L. Lord

Chief Executive Officer

4

  

	 	 	STATE OF DELAWARE

SECRETARY OF STATE

DIVISION OF CORPORATIONS

FILED 09:00 AM 11/12/1999

991481270 — 2693555
 

SLM HOLDING CORPORATION  

 CERTIFICATE OF DESIGNATION, POWERS,

PREFERENCES, RIGHTS, PRIVILEGES, QUALIFICATIONS,

LIMITATIONS, RESTRICTIONS, TERMS AND CONDITIONS  

 of  

 6.97% CUMULATIVE REDEEMABLE

PREFERRED STOCK, SERIES A  

        I, Mary F. Eure, Secretary of SLM Holding Corporation, a Delaware corporation (the "Corporation"), do hereby certify that, pursuant to Section 151 of the
Delaware General Corporation Law and Article Fourth of the Corporation's Amended and Restated Certificate of Incorporation, (a) on September 23, 1999 the board of directors of the
Corporation (the "Board of Directors") appointed a Preferred Stock Issuance Committee of the Board of Directors and delegated authority to such committee to create and designate one or more series of
preferred stock of the Corporation and, to the extent that the powers, preferences and other special rights of such series, and the qualifications, limitations and restrictions thereof, are not stated
and expressed in the Corporation's Amended and Restated Certificate of Incorporation, to fix the powers, preferences and other special rights of such series and the
qualifications, limitations and restrictions and other terms and conditions thereof, and (b) on November 10, 1999, the Preferred Stock Issuance Committee adopted the resolutions shown
immediately below, which resolutions of the Board of Directors and the Preferred Stock Issuance Committee are now, and at all times since their respective dates of adoption have been, in full force
and effect. 

RESOLVED,
that the Preferred Stock Issuance Committee does hereby create, authorize and provide for the issuance of the 6.97% Cumulative Redeemable Preferred Stock, Series A, par value $0.20
per share, with the following designation, powers, preferences, rights, privileges, qualifications, limitations, restrictions, terms and conditions: 

        1.    Designation, Par Value, Number of Shares and Seniority    

        The
series of preferred stock of the Corporation created hereby (the "Series A Preferred Stock") shall be designated "6.97% Cumulative Redeemable Preferred Stock,
Series A," shall have a par value of $0.20 per share and shall consist of 3,450,000 shares. Subject to the requirements of applicable law and the terms and conditions of the Corporation's
Amended and Restated Certificate of Incorporation, the Board of Directors shall be permitted to increase the authorized number of shares of such series at any time. The Series A Preferred Stock
shall rank, both as to dividends and upon liquidation, prior to the common stock of the Corporation (the "Common Stock") to the extent provided in this Certificate and the Corporation's Amended and
Restated Certificate of Incorporation and shall rank, both as to dividends and upon liquidation, on a parity with any other class or series of preferred stock the Corporation may from time to time
issue (the "Parity Preferred Stock"). 

        2.    Dividends    

        (a)   The
holders of outstanding shares of Series A Preferred Stock shall be entitled to receive, ratably, when, as and if declared by the Board of Directors, in its
sole discretion, out of funds legally available therefor, cumulative, cash dividends at the annual rate of 6.97%, or $3.485, per share of 

1

 

Series A
Preferred Stock. Dividends on the Series A Preferred Stock shall accrue from but not including November 16, 1999 and are payable when, as and if declared by the Board of
Directors quarterly in arrears on January 31, April 30, July 30 and October 31 of each year (each, a "Dividend Payment Date") commencing on January 31, 2000. If a
Dividend Payment Date is not a "Business Day," the related dividend shall be paid on the next Business Day with the same force and effect as though paid on the Dividend Payment Date, without any
increase to account for the period from such Dividend Payment Date through the date of actual payment. For these purposes, "Business Day" means a day other than (i) a Saturday or Sunday,
(ii) a day on which New York City banks are closed or (iii) a day on which the offices of the Corporation are closed. 

        The
"Dividend Period" relating to a Dividend Payment Date shall be the period from but not including the preceding Dividend Payment Date (or from but not including November 16,
1999, in the case of the first Dividend Payment Date) through and including the related Dividend Payment Date. If declared, the dividend payable in respect of the first Dividend Period will be $0.7357
per share. The amount of dividends payable in respect of any quarterly Dividend Period other than the first Dividend Period shall be computed at a rate equal to 6.97% divided by 4; the amount of
dividends payable in respect of any shorter period shall be computed on the basis of twelve 30-day months and a 360-day year. Each such dividend shall be paid to the holders of
record of outstanding shares of the Series A Preferred Stock as they appear in the books and records of the Corporation on such record date as shall be fixed in advance by the Board of
Directors, not to be earlier than 45 days nor later than 10 days preceding the applicable Dividend Payment Date. 

        No
dividends shall be declared or paid or set apart for payment on the Common Stock or any other class or series of stock ranking junior to or (except as hereinafter provided) on a
parity with the Series A Preferred Stock with respect to the payment of dividends unless all accrued and unpaid dividends have been declared and paid or set apart for payment on the outstanding
Series A Preferred Stock in respect of all prior Dividend Periods. In the event that the Corporation shall not pay any one or more dividends or any part thereof on the Series A Preferred
Stock, the holders of that Series A Preferred Stock shall not have any cause of action against the Corporation in respect of such non-payment as long as no dividend is paid on any
junior or parity stock in violation of the next preceding sentence. 

        No
Common Stock or any other stock of the Corporation ranking junior to or on a parity with the Series A Preferred Stock as to dividends may be redeemed, purchased or otherwise
acquired for any consideration (or any payment be made to or available for a sinking fund for the redemption of any shares of such stock) unless all accrued and unpaid dividends have been declared and
paid or set apart for payment on the outstanding Series A Preferred Stock in respect of all prior Dividend Periods; provided, however, that any moneys theretofore deposited in any sinking fund
with respect to any such stock in compliance with the provision of such sinking fund may thereafter be applied to the purchase or redemption of such stock in accordance with the terms of such sinking
fund, regardless of whether at the time of such application full cumulative dividends upon the Series A Preferred Stock outstanding to the most recent Dividend Payment Date shall have been paid
or declared and set apart for payment by the Corporation; provided that, if and when authorized by the Board of Directors, any such junior or parity stock or Common Stock may be converted into or
exchanged for stock of the Corporation ranking junior to the Series A Preferred Stock as to dividends. 

        (b)   If,
prior to May 16, 2001, one or more amendments to the Internal Revenue Code of 1986, as amended (the "Code"), are enacted that reduce the percentage of the
dividends-received deduction (70% as of November 10, 1999) as specified in section 243(a)(1) of the Code or any successor provision (the "Dividends-Received Percentage"), certain
adjustments may be made in respect of the dividends payable by the Corporation, and Post Declaration Date Dividends and Retroactive Dividends (as such terms are defined below) may become payable, as
described below. Notwithstanding anything to the 

2

 

contrary
herein, the Corporation will make no adjustment for any amendments to the Code on or after May 16, 2001 that reduce the Dividends-Received Percentage. 

        The
amount of each dividend payable (if declared) per share of Series A Preferred Stock for dividend payments made on or after the effective date of such change in the Code will
be adjusted by multiplying the amount of the dividend payable pursuant to clause (a) of this Section 2 (before adjustment) by a factor, which shall be the number determined in accordance
with the following formula (the "DRD Formula"), and rounding the result to the nearest cent (with one-half cent rounded up): 

	1 - .35 (1 - .70)

------------------------------------------

1 - .35 (1 - DRP)

For
the purposes of the DRD Formula, "DRP" means the Dividends-Received Percentage (expressed as a decimal) applicable to the dividend in question; provided,
however, that if the Dividends-Received Percentage applicable to the dividend in question is less than 50%, then the DRP will equal .50. No amendment to the Code, other than a
change in the percentage of the dividends-received deduction set forth in section 243(a)(1) of the Code or any successor provision, or a change in the percentage of the dividends-received
deduction for certain categories of stock, which change is applicable to the Series A Preferred Stock, will give rise to an adjustment. 

        Notwithstanding
the foregoing provisions, if, with respect to any such amendment, the Corporation receives an unqualified opinion of nationally recognized independent tax counsel
selected by the Corporation or a private letter ruling or similar form of assurance from the Internal Revenue Service (the "IRS") to the effect that such an amendment does not apply to a dividend
payable on the Series A
Preferred Stock, then such amendment shall not result in the adjustment provided for pursuant to the DRD Formula with respect to such dividend. The opinion referenced in the previous sentence shall be
based upon the legislation amending or establishing the DRP upon a published pronouncement of the IRS addressing such legislation. Unless the context otherwise requires, references to dividends herein
shall means dividends as adjusted by the DRD Formula. The Corporation's calculation of the dividends payable as so adjusted shall be final and not subject to review absent manifest error. 

        Notwithstanding
the foregoing, if any such amendment to the Code is enacted after the dividend payable on a Dividend Payment Date has been declared but before such dividend is paid, the
amount of the dividend payable on such Dividend Payment Date shall not be increased. Instead, additional dividends (the "Post Declaration Date Dividends"), equal to the excess, if any, of
(x) the product of the dividend paid by the Corporation on such Dividend Payment Date and the DRD Formula (where the DRP used in the DRD Formula would be equal to the greater of the
Dividends-Received Percentage applicable to the dividend in question and .50) over (y) the dividend paid by the Corporation on such Dividend Payment Date, shall be payable (if declared) to
holders of Series A Preferred Stock on the record date applicable to the next succeeding Dividend Payment Date, or, if the Series A Preferred Stock is called for redemption prior to such
record date, to holders of Series A Preferred Stock on the applicable redemption date, as the case may be, in addition to any other amounts payable on such date. Notwithstanding the foregoing
provisions, if, with respect to any such amendment, the Corporation receives either an unqualified opinion of nationally recognized independent tax counsel selected by the Corporation or a private
letter ruling or similar form of assurance from the IRS to the effect that such amendment does not apply to a dividend so payable on the Preferred Stock, then such amendment will not result in the
payment of Post Declaration Date Dividends. The opinion referenced in the previous sentence must be based upon the legislation amending or establishing the DRP or upon a published pronouncement of the
IRS addressing such legislation. 

3

 

        If
any such amendment to the Code is enacted and the reduction in the Dividends-Received Percentage retroactively applies to a Dividend Payment Date as to which the Corporation
previously paid dividends on the Series A Preferred Stock (each, an "Affected Dividend Payment Date"), the Corporation shall pay (if declared) additional dividends (the "Retroactive Dividends")
to holders of the Series A Preferred Stock on the record date applicable to the next succeeding Dividend Payment Date (or, if such amendment is enacted after the dividend payable on such
Dividend Payment Date has been declared, to holders on the record date applicable to the second succeeding Dividend Payment Date following the date of enactment) in an amount equal to the excess of
(x) the product of the dividend paid by the Corporation on each Affected Dividend Payment Date and the DRD Formula (where the DRP used in the DRD Formula would be equal to the greater of the
Dividends-Received Percentage and .50 applied to each Affected Dividend Payment Date) over (y) the sum of the dividend paid by the Corporation on each Affected Dividend Payment Date. The
Corporation will make only one payment of Retroactive Dividends for any such amendment. Notwithstanding the foregoing provisions, if, with respect to any such amendment, the Corporation receives
either an unqualified opinion of nationally recognized independent tax counsel selected by the Corporation or a private letter ruling or similar form of assurance from the IRS to the effect that such
amendment does not apply to a dividend payable on an Affected Dividend Payment Date for the Series A Preferred Stock, then such amendment will not result in the payment of Retroactive Dividends
with respect to such Affected Dividend Payment Date. The
opinion referenced in the previous sentence must be based upon the legislation amending or establishing the DRP or upon a published pronouncement of the IRS addressing such legislation. 

        In
the event that the amount of dividends payable per share of the Series A Preferred Stock is adjusted pursuant to the DRD Formula and/or Post Declaration Date Dividends or
Retroactive Dividends are to be paid, the Corporation will give notice of each such adjustment and, if applicable, any Post Declaration Date Dividends and Retroactive Dividends to be paid as soon as
practicable to the holders of Series A Preferred Stock. 

        (c)   Notwithstanding
any other provision of this Certificate, the Board of Directors, in its discretion, may choose to pay dividends on the Series A Preferred Stock
without the payment of any dividends on the Common Stock or any other class or series of stock from time to time outstanding ranking junior to the Series A Preferred Stock with respect to the
payment of dividends. 

        (d)   No
dividend shall be declared or paid or set apart for payment on any shares of the Series A Preferred Stock if at the same time any arrears or default exists in
the payment of dividends on any outstanding class or series of stock of the Corporation ranking prior to or (except as provided herein) on a parity with the Series A Preferred Stock with
respect to the payment of dividends. 

        (e)   Holders
of shares of the Series A Preferred Stock shall not be entitled to any dividends, in cash or in property, other than as herein provided and shall not be
entitled to interest, or any sum in lieu of interest, on or in respect of any dividend payment. 

        3.    Optional Redemption    

        (a)   The
Series A Preferred Stock shall not be redeemable prior to November 16, 2009. Subject to this limitation and to any further limitations imposed by law,
the Corporation may redeem the Series A Preferred Stock, in whole or in part, at any time or from time to time, out of funds legally available therefor, at the redemption price of $50.00 per
share plus an amount, determined in accordance with Section 2 above, equal to the amount of the dividend accrued and unpaid for all prior Dividend Periods and for the then-current
Dividend Period to but not including the date of such redemption. If less than all of the outstanding shares of the Series A Preferred Stock are to be redeemed, the Corporation shall select
shares to be redeemed from the outstanding shares not previously called for redemption by lot or pro rata (as nearly as possible) or by any other method which the Corporation in its sole discretion
deems equitable. 

4

 

        (b)   In
the event the Corporation shall redeem any or all of the Series A Preferred Stock as aforesaid, notice of such redemption shall be given by the Corporation by
first class mail, postage prepaid, mailed not less than 30 and not more than 60 days prior to the redemption date, to each holder of record of the shares of the Series A Preferred Stock
being redeemed, at such holder's address as the same appears in the books and records of the Corporation. Each such notice shall state the number of shares being redeemed, the redemption price, the
redemption date and the place at which such holder's certificate(s) representing shares of the Series A Preferred Stock must be presented for cancellation or exchanges, as the case may be, upon
such redemption. Any notice that is so mailed shall be conclusively presumed to have been duly given, whether or not the stockholder received such notice. Failure to duly give notice, or any defect in
the notice or in the mailing thereof, to any holder of the Series A Preferred Stock shall not affect the validity of the proceedings for the redemption of any other shares of Series A Preferred Stock
being redeemed. 

        (c)   If
any redemption date is not a Business Day, then payment of the redemption price may be made on the next Business Day with the same force and effect as if made on the
redemption date, and no interest, additional dividends or other sums will accrue on the amount payable from the redemption date to the next Business Day. 

        (d)   Notice
having been mailed as aforesaid, from and after the redemption date specified therein and upon payment of the consideration set forth in Section 3(a)
above, said shares of the Series A Preferred Stock shall no longer be deemed to be outstanding, and all rights of the holders thereof as holders of the Series A Preferred Stock shall cease, with
respect to shares so redeemed. 

        (e)   Subject
to applicable law, any shares of the Series A Preferred Stock which shall have been redeemed shall, after such redemption, no longer have the status of
authorized, issued or outstanding shares. 

        (f)    The
shares of Series A Preferred Stock shall not be subject to any sinking fund or to any mandatory redemption. 

	4.
	Preferred Stock Board Committee; Limited Rights to Vote and Elect Board Observers  

        At the first regularly scheduled meeting of the Board of Directors after the issuance of the Series A Preferred Stock, the Board of Directors shall form a
committee (the "Preferred Stock Committee") of the Board of Directors whose purpose shall be to monitor and evaluate proposed actions of the Corporation that may impact the rights of holders of Series
A Preferred Stock, including the payment of dividends on the Series A Preferred Stock, and to report to the Board of Directors thereon. The Board of Directors shall designate from among its
"independent directors" (as such term is defined (i) by the Corporation's Bylaws as then in effect or (ii) by New York Stock Exchange rules) at least three
directors to serve on the Preferred Stock Committee. In designating the independent directors to serve on the Preferred Stock Committee, the Board of Directors may, in its sole discretion, apply
either of the foregoing definitions. The Preferred Stock Committee shall meet at least once a year. 

        Except
as set forth in this Section 4 and in Section 9(h) below, the shares of the Series A Preferred Stock shall not have any voting powers, either general or special.
Whenever dividends on any shares of Series A Preferred Stock are in arrears for four or more quarterly Dividend Periods, whether or not consecutive: 

        (a)   The
holders of the Series A Preferred Stock, voting together as single class with all other classes or series of capital stock of the Corporation upon which like voting
rights have been conferred and are exercisable and which are entitled to vote as a class with the Series A Preferred Stock in the election of two observers to the board of directors, will be entitled
to vote for the election of a total of two board observers at a special meeting called by an officer of the Corporation at the request of holders of record of at least 10% of the outstanding Series A
Preferred Stock or by the holders of any such other class or series of capital stock of the Corporation and at each subsequent annual meeting of 

5

 

stockholders,
until all dividends accumulated on the Series A Preferred Stock for all prior Dividend Periods and the then current Dividend Period have been fully paid. 

        (b)   if
and when full cumulative dividends on the Series A Preferred Stock for all prior Dividend Periods and the then current Dividend Period have been paid in full or
declared and a sum sufficient for the payment thereof set aside for payment in full, the right of holders of Series A Preferred Stock to elect those two board observers will cease and, unless there
are other classes and series of capital stock of the Corporation upon which like voting rights have been conferred and are exercisable, all rights of each of the two board observers will immediately
and automatically terminate. 

        (c)   The
Corporation shall provide to the board observers notice, and a detailed agenda (to the extent prepared for any member of the Board of Directors), of all meetings of
the Board of Directors and any committee of the Board of Directors which has been delegated responsibility for matters relating to the payment or nonpayment of dividends, including the Preferred Stock
Committee. The Corporation shall also provide to the board observers copies of all materials that may in any way be related to the payment or nonpayment of dividends that are provided to the Board of
Directors and to the members of any such committees. The board observers shall be subject to the same confidentiality obligations with respect to such materials as bind the Board of Directors. The
board observers may attend any meeting of the Board of Directors or any committee thereof which has been delegated responsibility for matters relating to the payment or nonpayment of dividends,
including the Preferred Stock Committee; the board observers may participate in any such meeting, include statements in the minutes of such meetings, and present information and make recommendations
to, and ask questions of, the Board of Directors or the Preferred Stock Committee with respect to all matters. 

        If
a special meeting of the holders of the Series A Preferred Stock for the election of the board observers is not called by an officer of the Corporation within 30 days after request,
then the holders of record of at least 10% of the outstanding shares of Series A Preferred Stock may designate a holder of Series A Preferred Stock to call that meeting at the Corporation's expense.
The Corporation will pay all costs and expenses of calling and holding any meeting and of electing board observers as described above. 

        The
foregoing voting provisions will not apply if, at or prior to the time when the act with respect to which such vote would otherwise be required will be effected, all outstanding
shares of Series A Preferred Stock have been redeemed or called for redemption and sufficient funds have been deposited in trust to effect such redemption. 

        In
any matter in which the Series A Preferred Stock is entitled to vote, including any action by written consent, each share of the Series A Preferred Stock shall be entitled to one
vote, except that when shares of any other class or series of capital stock of the Corporation have the right to vote with the Series A Preferred Stock as a single class on any matter, the Series A
Preferred Stock and the shares of each such other class or series will have one vote for each $50.00 of liquidation preference (excluding accrued dividends). 

	5.
	No Conversion or Exchange Rights

        The
holders of shares of Series A Preferred Stock shall not have any right to convert such shares into or exchange such shares for any other class or series of stock or obligations of
the Corporation. 

	6.
	No Preemptive Rights

        No
holder of the Series A Preferred Stock shall as such holder have any preemptive right to purchase or subscribe for any other shares, rights, options or other securities of any class
of the Corporation which at any time may be sold or offered for sale by the Corporation. 

6

 

	7.
	Liquidation Rights and Preference

        (a)   Except
as otherwise set forth herein, upon the voluntary or involuntary dissolution, liquidation or winding up of the Corporation, after payment of or provision for the
liabilities of the Corporation and the expenses of such dissolution, liquidation or winding up, the holders of the outstanding shares of the Series A Preferred Stock shall be entitled to receive out
of the assets of the Corporation available for distribution to stockholders, before any payment or distribution shall be made on the Common Stock or any other class or series of stock of the
Corporation ranking junior to the Series A Preferred Stock upon liquidation, the amount of $50.00 per share plus an amount, determined in accordance with Section 2 above, equal to all accrued and
unpaid dividends for all prior Dividend Periods and for the then-current Dividend Period through and including the date of payment in respect of such dissolution, liquidation or winding up, and the
holders of the outstanding shares of any class or series of stock of the Corporation ranking on a parity with the Series A Preferred Stock upon liquidation shall be entitled to receive out of the
assets of the Corporation available for distribution to stockholders, before any such payment or distribution shall be made on the Common Stock or any other class or series of stock of the Corporation
ranking junior to the Series A Preferred Stock and to such parity stock upon liquidation, any corresponding preferential amount to which the holders of such parity stock may, by the terms thereof, be
entitled; provided, however, that if the assets of the Corporation available for distribution to stockholders shall be insufficient for the payment of the full amounts to which the holders of the
outstanding shares of the Series A Preferred Stock and the holders of the outstanding shares of such parity stock shall be entitled to receive upon such dissolution, liquidation or winding up of the
Corporation as aforesaid, then all of the assets of the Corporation available for distribution to stockholders shall be distributed to the holders of outstanding shares of the Series A Preferred Stock
and to the holders of outstanding shares of such parity stock pro rata, so that the amounts so distributed to holders of the Series A Preferred Stock and to holders of such classes or series of such
parity stock, respectively, shall bear to each other the same ratio that the respective distributive amounts to which they are so entitled (including any adjustment due to changes in the Dividends-
Received Percentage) bear to each other. After the payment of the aforesaid amounts to which they are entitled, the holders of outstanding shares of the Series A Preferred Stock and the holders of
outstanding shares of any such parity stock shall not be entitled to any further participation in any distribution of assets of the Corporation. 

        (b)   Neither
the sale of all or substantially all of the property or business of the Corporation, nor the merger, consolidation or combination of the Corporation into or with
any other corporation or entity, shall be deemed to be a dissolution, liquidation or winding up for the purpose of this Section 7. 

	8.
	Additional Classes or Series of Stock  

        The Board of Directors shall have the right at any time in the future to authorize, create and issue, by resolution or resolutions, one or more additional classes
or series of stock of the Corporation, and to determine and fix the distinguishing characteristics and the relative rights, preferences, privileges and other terms of the shares thereof. Any such
class or series of stock may rank on a parity with or junior
to the Series A Preferred Stock as to dividends or upon liquidation or otherwise. No such class or series of stock of the Corporation may rank prior to the Series A Preferred Stock as to dividends or
upon liquidation or otherwise. 

	9.
	Miscellaneous

        (a)   Any
stock of any class or series of the Corporation shall be deemed to rank: 

        (i)    on
a parity with shares of the Series A Preferred Stock, either as to dividends or upon liquidation, whether or not the dividend rates or amounts, dividend payment dates
or redemption of liquidation prices per share, if any, be different from those of the Series A Preferred Stock, if the holders of such class or series shall be entitled to the receipt of dividends or
of amounts 

7

 

distributable
upon dissolution, liquidation or winding up of the Corporation, as the case may be, in proportion to their respective dividend rates or amounts or liquidation prices, without preference
or priority, one over the other, as between the holders of such class or series and the holders of shares of the Series A Preferred Stock; and 

        (ii)   junior
to shares of the Series A Preferred Stock, either as to dividends or upon liquidation, if such class or series shall be Common Stock, or if the holders of shares
of the Series A Preferred Stock shall be entitled to receipt of dividends or of amounts distributable upon dissolution, liquidation or winding up of the Corporation, as the case may be, in preference
or priority to the holders of shares of such class or series. 

        (b)   The
Corporation and any agent of the Corporation may deem and treat the holder of a share or shares of Series A Preferred Stock, as shown in the Corporation's books and
records, as the absolute owner of such share or shares of Series A Preferred Stock for the purpose of receiving payment of dividends in respect of such share or shares of Series A Preferred Stock and
for all other purposes whatsoever, and neither the Corporation nor any agent or the Corporation shall be affected by any notice to the contrary. All payments made to or upon the order of any such
persons shall be valid and, to the extent of the sum or sums so paid, effectual to satisfy and discharge liabilities for moneys payable by the Corporation on or with respect to any such share or
shares of Series A Preferred Stock. 

        (c)   The
shares of the Series A Preferred Stock, when duly issued, shall be fully paid and non-assessable. 

        (d)   For
purposes of this Certificate, the term "the Corporation" means SLM Holding Corporation any any successor thereto by operation of law or by reason of a merger,
consolidation or combination. 

        (e)   Any
notice, demand or other communication which by any provision of this Certificate is required or permitted to be given or served to or upon the Corporation shall be
given or served in writing addressed (unless and until another address shall be published by the Corporation) to SLM Holding Corporation, 11600 Sallie Mae Drive, Reston, Virginia 20193, Attn: General
Counsel's Office. Such notice, demand or other communication to or upon the Corporation shall be deemed to have been sufficiently given or made only upon actual receipt of a writing by the
Corporation. Any notice, demand or other communication which by any provision of this Certificate is required or permitted to be given or served by the Corporation hereunder may be given or served by
being deposited first class, postage prepaid, in the United States mail addressed (i) to the holder as such holder's name and address may appear at such time in the books and records of the
Corporation or (ii) to a person or entity other than a holder of record of the Series A Preferred Stock, to such person or entity at such address as appears to the Corporation to be
appropriate at such time. Such notice, demand or other communication shall be deemed to have been sufficiently given or made, for all purposes, upon mailing. 

        (h)   The
Corporation, by or under the authority of the Board of Directors, may amend, alter, supplement or repeal any provision of this Certificate pursuant to applicable law
and the following terms and conditions: 

        (i)    The
consent of the holders of at least 662/3% of all of the shares of the Series A Preferred Stock at the time outstanding, given in person or by
proxy, either in writing or by a vote at a meeting called for the purpose at which the holders of shares of the Series A Preferred Stock shall vote together as a class, shall be necessary for
authorizing, effecting or validating the amendment, alteration, supplementation or repeal of the provisions of this Certificate if such amendment, alteration, supplementation or repeal would
materially and adversely affect the powers, preferences, rights, privileges, qualifications, limitations, restrictions, terms or conditions of the Series A Preferred Stock. The creation and
issuance of any other class or series of stock, or the issuance of additional shares of any existing class or series of stock of the Corporation (including 

8

 

the
Series A Preferred Stock), whether ranking on parity with or junior to the Series A Preferred Stock, shall not be deemed to constitute such an amendment, alteration, supplementation
or repeal. 

        (ii)   Holders
of the Series A Preferred Stock shall be entitled to one vote per share on matters on which their consent is required pursuant to subparagraph
(i) of this paragraph (h). In connection with any meeting of such holders, the Board of Directors shall fix a record date, neither earlier than 60 days nor later than 10 days prior to the date
of such meeting, and holders of record of shares of the Series A Preferred Stock on such record date shall be entitled to notice of and to vote at any such meeting and any adjournment. The
Board of Directors, or such person or persons as it may designate, may establish
reasonable rules and procedures as to the solicitation of the consent of holders of the Series A Preferred Stock at any such meeting or otherwise, which rules and procedures shall conform to
the requirements of any national securities exchange on which the Series A Preferred Stock may be listed at such time. 

        (i)    RECEIPT
AND ACCEPTANCE OF A SHARE OR SHARES OF THE SERIES A PREFERRED STOCK BY OR ON BEHALF OF A HOLDER SHALL CONSTITUTE THE UNCONDITIONAL ACCEPTANCE BY THE HOLDER (AND
ALL OTHERS HAVING BENEFICIAL OWNERSHIP OF SUCH SHARE OR SHARES) OF ALL OF THE TERMS AND PROVISIONS OF THIS CERTIFICATE. NO SIGNATURE OR OTHER FURTHER MANIFESTATION OF ASSENT TO THE TERMS AND
PROVISIONS OF THIS CERTIFICATE SHALL BE NECESSARY FOR ITS OPERATION OR EFFECT AS BETWEEN THE CORPORATION AND THE HOLDER (AND ALL SUCH OTHERS). 

        IN
WITNESS WHEREOF, I have hereunto set my hand and the seal of the Corporation this 10th day of November, 1999. 

	

        [seal]	
 	

 	

/s/  MARY F. EURE      
 Mary F. Eure, Secretary

9

 
 

FIRST AMENDMENT TO
  AMENDED AND RESTATED
  CERTIFICATE OF INCORPORATION
  OF
  SLM CORPORATION
  (Pursuant to Section 242 of the Delaware General Corporation Law)    

        SLM
Holding Corporation, a Delaware corporation (the "Corporation"), hereby certifies as follows: 

        FIRST: The Board of Directors of the Corporation unanimously adopted the following resolution at a meeting duly called and held on
March 16, 2000: 

1. ARTICLE SIXTH, Section c.(1)(i), which begins "The number of directors. . .", is hereby deleted in its entirety and replaced with the following: 

	c.
	(1)
(i) The number of directors of the Corporation shall be not less than eleven (11), no more than seventeen (17) for election at the 2000 annual meeting of shareholders; no more than
sixteen (16) at the 2001 annual meeting of shareholders; and no more than fifteen (15) thereafter. 

2. ARTICLE SIXTH, Section c.(3), which begins "Any vacancy on the Board of Directors. . .", is hereby deleted in its entirety and replaced with the
following: 

        (3)   Any
vacancy on the Board of Directors, regardless of whether resulting from death, resignation, retirement, disqualification, removal from office, increase in the size
of the Board or otherwise, may be filled by the affirmative vote of a majority of directors then in office, but any vacancy filled in such manner shall be filled only until the next annual meeting of
stockholders. 

        SECOND: The above resolution was approved by a majority of the oustanding stock entitled to vote thereon at the annual stockholders
meeting which was duly called and held on May 18, 2000. 

        IN
WITNESS WHEREOF, this First Amendment to Amended and Restated Certificate of Incorporation has been duly adopted in accordance with the provisions of Section 242 of the
Delaware
General Corporation Law and has been executed by a duly authorized officer of the Corporation this 18th day of May, 2000. 

	 	 	SLM HOLDING CORPORATION
	

 	
 	
By:	

/s/  MARY F. EURE      
 Mary F. Eure, Secretary

	 	 	STATE OF DELAWARE

SECRETARY OF STATE

DIVISION OF CORPORATIONS

FILED 11:30 AM 05/18/2000

001253142 — 2693555
 

	 	 	STATE OF DELAWARE

SECRETARY OF STATE

DIVISION OF CORPORATIONS

FILED 02:00 PM 07/31/2000

001385426 — 2693555
 

 
 

CERTIFICATE OF OWNERSHIP AND MERGER    
    
    MERGING    
    
    SLM MERGER CORPORATION    
    
    WITH AND INTO    
    
    SLM HOLDING CORPORATION    
    

Pursuant to Section 253 of the

General Corporation of Law of the State of Delaware

        SLM
Holding Corporation, a Delaware corporation (the "Corporation"), does hereby certify to the following facts relating to the merger (the "Merger") of SLM Merger Corporation, a
Delaware corporation (the "Subsidiary"), with and into the Corporation, with the Corporation remaining as the surviving corporation under the name of USA Education, Inc.: 

        FIRST:
The Corporation is incorporated pursuant to General Corporation Law of the State of Delaware (the "DGCL"). The Subsidiary is incorporated pursuant to the DGCL. 

        SECOND:
The Corporation owns all of the outstanding shares of each class of capital stock of the Subsidiary. 

        THIRD:
The Board of Directors of the Corporation, by the following resolutions duly adopted on July 20, 2000, determined to merge the Subsidiary with and into the Corporation
pursuant to Section 253 of the DGCL: 

        WHEREAS,
SLM Holding Corporation, a Delaware corporation (the "Corporation"), owns all of the outstanding shares of the capital stock of SLM Merger Corporation, a Delaware corporation
("Subsidiary"); and 

        WHEREAS,
the Board of Directors of the Corporation (the "Board") has deemed it advisable that the Subsidiary be merged with and into the Corporation pursuant to Section 253 of the
General Corporation Law of the State of Delaware; 

        NOW
THEREFORE BE IT RESOLVED, that the Subsidiary be merged with and into the Corporation (the "Merger") at such time as the proper officers of the Corporation deem advisable; and 

        FURTHER
RESOLVED, that by virtue of the Merger and without any action on the part of the holder thereof, each then outstanding share of common stock of the Corporation shall remain
unchanged and continue to remain outstanding as one share of common stock of the Corporation, held by the person who was the holder of such share of common stock of the Corporation immediately prior
to the Merger; and 

        FURTHER
RESOLVED, that by virtue of the Merger and without any action on the part of the holder thereof, each then outstanding share of common stock of the Subsidiary shall be cancelled
and no consideration shall be issued in respect thereof; and 

        FURTHER
RESOLVED, that the certificate of incorporation of the Corporation as in effect immediately prior to the effective time of the Merger shall be the certificate of incorporation of
the surviving corporation, except that Article FIRST thereof shall be amended to read in its entirety as follows: 

        FIRST: The name of the corporation is USA Education, Inc. (hereinafter the "Corporation"). 

        FURTHER
RESOLVED, that the proper officers of the Corporation be and they hereby are authorized and directed to make, execute and acknowledge, in the name and under the corporate seal of
the Corporation, a certificate of ownership and merger for the purpose of effecting the Merger and to file the same in the office of the Secretary of State of the State of Delaware, and to do all
other acts and things that may be necessary to carry out and effectuate the purpose and intent of the resolutions relating to the Merger. 

        FOURTH:
The Corporation shall be the surviving corporation of the Merger. 

        FIFTH:
The certificate of incorporation of the Corporation as in effect immediately prior to the effective time of the Merger shall be the certificate of incorporation of the surviving
corporation, except that Article I thereof shall be amended to read in its entirety as follows: 

        FIRST: The name of the corporation is USA Education, Inc. (hereinafter the "Corporation"). 

        IN
WITNESS WHEREOF, the Corporation has caused this Certificate of Ownership and Merger to be executed by its duly authorized officer this 31st day of July, 2000. 

	 	 	SLM HOLDING CORPORATION
	

 	
 	
By:	

/s/  CAROL R. RAKATANSKY      
 Name: Carol R. Rakatansky

Title: Assistant Secretary

	 	 	STATE OF DELAWARE

SECRETARY OF STATE

DIVISION OF CORPORATIONS

FILED 12:45 PM 05/10/2001

010226677 — 2693555
 

 
 

SECOND AMENDMENT TO
  AMENDED AND RESTATED
  CERTIFICATE OF INCORPORATION
  OF
  USA EDUCATION, INC.
  (Pursuant to Section 242 of the Delaware General Corporation Law)

        USA
Education, Inc., a Delaware corporation (the "Corporation"), hereby certifies as follows: 

        FIRST: The Board of Directors of the Corporation unanimously adopted the following resolution at a meeting duly called and held on
May 10, 2001: 

1. ARTICLE FOURTH, which begins "The total number of shares of stock. . .", is hereby deleted in its entirety and replaced with the following: 

FOURTH:
The total number of shares of stock which the Corporation shall have authority to issue is 395,000,000 shares of capital stock, consisting of (i) 375,000,000 shares of common stock, par
value $.20 per share (the "Common Stock"), and (ii) 20,000,000 shares of preferred stock, par value $.20 per share (the "Preferred Stock"). 

        SECOND: The above resolution was approved by a majority of the oustanding stock entitled to vote thereon at the annual stockholders
meeting which was duly called and held on May 10, 2001. 

        IN
WITNESS WHEREOF, this Second Amendment to Amended and Restated Certificate of Incorporation has been duly adopted in accordance with the provisions of Section 242 of the
Delaware General Corporation Law and has been executed by a duly authorized officer of the Corporation this 10th day of May, 2001. 

	 	 	USA EDUCATION, INC.
	

 	
 	
By:	

/s/  MARY F. EURE      
 Mary F. Eure, Secretary

	 	 	STATE OF DELAWARE

SECRETARY OF STATE

DIVISION OF CORPORATIONS

FILED 09:00 AM 02/22/2002

020117401 — 2693555
 

 
 

CERTIFICATE OF OWNERSHIP AND MERGER    
    
    MERGING    
    
    USA MERGER CORPORATION    
    
    WITH AND INTO    
    
    USA EDUCATION, INC.    
    

Pursuant to Section 253 of the

General Corporation of Law of the State of Delaware

        USA
Education, Inc., a Delaware corporation (the "Corporation"), does hereby certify to the following facts relating to the merger (the "Merger") of USA Merger Corporation, a Delaware
corporation (the "Subsidiary"), with and into the Corporation, with the Corporation remaining as the surviving corporation under the name of SLM Corporation: 

        FIRST:
The Corporation is incorporated pursuant to General Corporation Law of the State of Delaware (the "DGCL"). The Subsidiary is incorporated pursuant to DGCL. 

        SECOND:
The Corporation owns all of the outstanding shares of each class of capital stock of the Subsidiary. 

        THIRD:
The Board of Directors of the Corporation, by the following resolutions duly adopted on October 25, 2001, determined to merge the Subsidiary with and into the Corporation
pursuant to Section 253 of the DGCL: 

        WHEREAS,
USA Education, Inc., a Delaware corporation (the "Corporation"), owns all of the outstanding shares of the capital stock of USA Merger Corporation, a Delaware corporation
("Subsidiary"); and 

        WHEREAS,
the Board of Directors of the Corporation (the "Board") has deemed it advisable that the Subsidiary be merged with and into the Corporation pursuant to Section 253 of the
General Corporation Law of the State of Delaware; 

        NOW
THEREFORE BE IT RESOLVED, that the Subsidiary be merged with and into the Corporation (the "Merger") at such time as the proper officers of the Corporation deem advisable; and 

        FURTHER
RESOLVED, that by virtue of the Merger and without any action on the part of the holder thereof, each then outstanding share of common stock of the Corporation shall remain
unchanged and continue to remain outstanding as one share of common stock of the Corporation, held by the person who was the holder of such share of common stock of the Corporation immediately prior
to the Merger; and 

        FURTHER
RESOLVED, that by virtue of the Merger and without any action on the part of the holder thereof, each then outstanding share of common stock of the Subsidiary shall be cancelled
and no consideration shall be issued in respect thereof; and 

        FURTHER
RESOLVED, that the certificate of incorporation of the Corporation as in effect immediately prior to the effective time of the Merger shall be the certificate of incorporation of
the surviving corporation, except that Article FIRST thereof shall be amended to read in its entirety as follows: 

        FIRST:
The name of the corporation is SLM Corporation (hereinafter the "Corporation"). 

        FURTHER
RESOLVED, that the proper officers of the Corporation be and they hereby are authorized and directed to make, execute and acknowledge, in the name and under the corporate seal of
the Corporation, a certificate of ownership and merger for the purpose of effecting the Merger and to file the same in the office of the Secretary of State of the State of Delaware, and to do all
other acts and things that may be necessary to carry out and effectuate the purpose and intent of the resolutions relating to the Merger. 

        FOURTH:
The Corporation shall be the surviving corporation of the Merger. 

        FIFTH:
The certificate of incorporation of the Corporation as in effect immediately prior to the effective time of the Merger shall be the certificate of incorporation of the surviving
corporation, except that Article I thereof shall be amended to read in its entirety as follows: 

        FIRST:
The name of the corporation is SLM Corporation (hereinafter the "Corporation"). 

        SIXTH:
This Certificate of Ownership and Merger shall be effective at 9:00 a.m. Eastern Standard Time on May 17, 2002. 

        IN
WITNESS WHEREOF, the Corporation has caused this Certificate of Ownership and Merger to be executed by its duly authorized officer this 18th day of February, 2002. 

	 	 	USA EDUCATION, INC.
	

 	
 	
By:	

/s/  MARY F. EURE      
 Name: Mary F. Eure

Title: Secretary

 
 

THIRD AMENDMENT TO
  AMENDED AND RESTATED
  CERTIFICATE OF INCORPORATION
  OF
  SLM CORPORATION
  (Pursuant to Section 242 of the Delaware General Corporation Law)    

        SLM
Corporation, a Delaware corporation (the "Corporation"), hereby certifies as follows: 

        FIRST: The Board of Directors of the Corporation unanimously adopted the following resolution at a meeting duly called and held on
March 20, 2003: 

1. ARTICLE FOURTH, which begins "The total number of shares of stock. . .", is hereby deleted in its entirety and replaced with the following: 

FOURTH:
The total number of shares of stock which the Corporation shall have authority to issue is 1,145,000,000 shares of capital stock, consisting of (i) 1,125,000,000 shares of common stock,
par value $.20 per share (the "Common Stock"), and (ii) 20,000,000 shares of preferred stock, par value $.20 per share (the "Preferred Stock"). 

        SECOND: The above resolution was approved by a majority of the oustanding stock entitled to vote thereon at the annual stockholders
meeting which was duly called and held on May 15, 2003. 

        IN
WITNESS WHEREOF, this Third Amendment to Amended and Restated Certificate of Incorporation has been duly adopted in accordance with the provisions of Section 242 of the
Delaware General Corporation Law and has been executed by a duly authorized officer of the Corporation this 15th day of May, 2003. 

	 	 	SLM CORPORATION
	

 	
 	
By:	

/s/  MARY F. EURE      
 Mary F. Eure, Secretary

	

 	
 	
STATE OF DELAWARE

SECRETARY OF STATE

DIVISION OF CORPORATIONS

DELIVERED 04:54 PM 05/15/2003

FILED 04:26 PM 05/15/2003

030315906 — 2693555 FILE
 

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Exhibit 4.4

FIRST AMENDMENT TO AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF SLM CORPORATION (Pursuant to Section 242 of the Delaware General Corporation Law)

CERTIFICATE OF OWNERSHIP AND MERGER MERGING SLM MERGER CORPORATION WITH AND INTO SLM HOLDING CORPORATION

SECOND AMENDMENT TO AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF USA EDUCATION, INC. (Pursuant to Section 242 of the Delaware General Corporation Law)

CERTIFICATE OF OWNERSHIP AND MERGER MERGING USA MERGER CORPORATION WITH AND INTO USA EDUCATION, INC.

THIRD AMENDMENT TO AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF SLM CORPORATION (Pursuant to Section 242 of the Delaware General Corporation Law)QuickLinks
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EXHIBIT 4.4  

 
 

THE ALLEN TELECOM INC.    
    
    EMPLOYEE BEFORE-TAX SAVINGS PLAN    
    
    (Amended and Restated January 1, 2001)    
    

 
TABLE OF CONTENTS  

	 
	 	 
	 	Page

	ARTICLE I	 	Introduction	 	1
	ARTICLE II	 	Definitions	 	1
	ARTICLE III	 	Eligibility	 	8
	ARTICLE IV	 	Contributions	 	10
	ARTICLE V	 	Allocation Of Contributions and Limitations	 	12
	ARTICLE VI	 	Investments	 	16
	ARTICLE VII	 	Valuation of Accounts	 	18
	ARTICLE VIII	 	Retirement and Disability	 	19
	ARTICLE IX	 	Death	 	20
	ARTICLE X	 	Vesting and Termination of Employment	 	20
	ARTICLE XI	 	Payment of Benefits	 	21
	ARTICLE XII	 	Withdrawals	 	24
	ARTICLE XIIA	 	Loan Provisions	 	27
	ARTICLE XIII	 	Administration of the Plan	 	29
	ARTICLE XIV	 	Amendment and Termination	 	32
	ARTICLE XV	 	Top-Heavy Provisions	 	33
	ARTICLE XVI	 	General Provisions	 	37

i

   ARTICLE I  

 Introduction  

        1.1   This
Plan was adopted October 1, 1985. It was amended and restated effective January 1, 2001. 

        1.2   The
purposes of this Plan are to foster personal savings by and to supplement such other benefits as may be payable to eligible Employees upon their retirement, death,
disability or termination of employment under other employee benefit plans maintained by Allen Telecom Inc. and/or its subsidiary corporations and under the social security laws of the United
States and to encourage eligible Employees to acquire a proprietary interest in the Company and thereby increase their identification with the Company and its objectives. 

        1.3   It
is the intention of Allen Telecom Inc. that this Plan, and the Trust hereinafter referred to, meet the requirements of the Employee Retirement Income Security
Act of 1974 and be qualified and exempt under Sections 401(a) and 501(a) of the Internal Revenue Code of 1986, respectively, as amended from time to time. 

ARTICLE II  

 Definitions  

        2.1   Unless
otherwise required by the context, the terms used herein shall have the meanings set forth in the remaining paragraphs of this  ARTICLE II. 

        2.2   "Account"
means, with respect to any Employee at any time, the aggregate value of the investments purchased by the Trustee with Participant Contributions,
After-Tax Contributions, Rollover Contributions, Employer Contributions and Additional Employer Contributions, including any earnings, losses and other increases and decreases attributable
thereto, and maintained by the Trustee in such Employee's Participant Contribution Account, After-Tax Contribution Account, Rollover Contribution Account, Employer Contribution Account and
Additional Employer Contribution Account, respectively. 

        2.2A "Additional
Employer Contributions" means the sum of (a) amounts attributable to employer contributions (other than matching contributions) made to the Allen
Telecom Plan for Plan Years ending prior to January 1, 1994 and (b) the contributions described in Section 4.2A hereof. 

        2.2B "Additional
Employer Contributions Account" means the account, if any, of a Participant consisting of the number of shares of Stock or other shares or units in the
investment funds described in Section 6.2(a), purchased with the Additional Employer Contributions of a Participant, with earnings thereon and
with dividends paid on such shares or units. 

        2.3   "Affiliated
Company or Affiliate" means each corporation, trade or business, the Employees of which, together with the Employees of the Company, are required by
section 414 of the Code to be treated as if they were employed by a single employer. 

        2.3A "After-Tax
Contribution Account" means the account of a Participant consisting of the number of shares of Stock or other shares or units in the investment
funds described in Section 6.2(a), purchased with After-Tax Contributions of a Participant, with earnings thereon and with dividends
paid on such shares or units. 

        2.3B "After-Tax
Contributions" means the contributions made hereunder pursuant to Section 4.1(b) by a
Participant. 

        2.3C "Allen
Telecom Participant" means an Employee who (a) is a participant in the Allen Telecom Plan on December 31, 1993 and who, pursuant to the merger of
the Allen Telecom Plan into this Plan, becomes a Participant in this Plan or (b) becomes eligible to participate in the Plan after December 31, 

2

 

1993
but who would have been eligible to participate in the Allen Telecom Plan if it had not merged into this Plan. 

        2.3D "Allen
Telecom Plan" means the Allen Telecom Group, Inc. Savings and Incentive Plan in effect as of January 1, 1994, which was merged into this Plan
effective January 1, 1994. 

        2.4   "Beneficiary"
means any person designated as such by a Participant, on a form supplied by the Committee, to receive benefits payable to or for the account of such
Participant under the provisions of the Plan. If the Participant is married and such Beneficiary is not the Participant's spouse, such designation shall not be effective unless accompanied by a signed
and notarized spousal consent to such designation acknowledging the effect of such consent. If no such designation is in effect at the time of the death of a Participant, or if no person so designated
shall survive such Participant, the Beneficiary shall be the husband or wife of such Participant, if then living, otherwise his surviving children in equal shares, or if such deceased Participant has
no surviving husband or wife or children, the legal representative of such deceased Participant; or in the event that there shall be no such legal representative duly appointed and qualified within
six (6) months of the date of death of such deceased Participant, then such person as, at the date of his death, would be entitled to share in the distribution of such deceased Participant's
personal estate under the provisions of the statute governing the descent of intestate property, then in force and effect in the state, or foreign jurisdiction outside the United States, of which such
Participant was a resident at the date of his death, in the proportions specified in such statute, the determination by the Committee of the identity of such person or persons to be final, conclusive
and binding on all persons whomsoever, and the Committee to be fully protected and to incur no liability regardless of any error which it may make in such determination. 

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

        2.5A "Break
in Service" means any Plan Year in which an Employee is not credited with at least five hundred (500) Hours of Service. 

        2.6   [RESERVED]

        2.7   "Code"
means the Internal Revenue Code of 1986, as amended from time to time, and any regulations issued pursuant thereto as in effect from time to time. 

        2.8   "Committee"
means the Employee Before-Tax Savings Plan Committee appointed by the Board as described in ARTICLE
XIII. 

        2.9   "Company"
means The Allen Group Inc., a Delaware corporation, or any successor thereto which continues the Plan. After the close of business on
February 28, 1997, the Company shall mean Allen Telecom Inc. 

        2.10 "Compensation"
means the aggregate regular basic earnings, including overtime, bonuses and commissions, paid to a Participant during a Plan Year by the Company and any
Participating Company by whom he was employed during the applicable Plan Year, but excluding any bonuses under the Company's Key Management Deferred Bonus Plan or any successor or similar bonus plan
and excluding any other items of compensation such as contributions made by the Company or any Participating Company to or under this or any other form of employee benefit program to which the Company
or such Participating Company contributes (other than pay during vacation or accrued vacation pay), including the United States Federal Social Security Act and any statutory program of the United
States or any state thereof providing compensation for occupational injuries or illness, and also including any similar act or program maintained by any foreign country or any political subdivision
thereof. 

        For
Plan Years beginning on or after January 1, 1989, and before January 1, 1994, the Compensation of each Participant taken into account for determining all benefits
provided under the Plan for any Plan Year shall not exceed $200,000, as such limitation is adjusted by the Secretary of the 

3

 

Treasury,
at the same time and in the same manner as under section 415(d) of the Code, except that the dollar increase in effect on January 1 of any calendar year is effective for Plan
Years beginning in such calendar year and the first adjustment to the $200,000 limitation is effective on January 1, 1990. For Plan Years beginning on or after January 1, 1994, the
Compensation of each participant taken into account for determining all benefits provided under the Plan for any determination period shall not exceed $150,000, as adjusted for the
cost-of-living in accordance with section 401(a)(17)(B) of the Code. 

        This
Section shall be effective on and after January 1, 1997. 

        2.10A "Comsearch"
means the Comsearch division of Allen Telecom Inc. 

        2.10B "Comsearch
Participant" means a Participant described in Section 3.1(c). 

        2.11 "Effective
Date" means October 1, 1985, or such later date as of which the condition set forth in  Section 16.4(b) has been satisfied. 

        2.11A "Eligibility
Computation Period (MARTA)" means the twelve month period beginning on the first day for which a MARTA Employee is credited with an Hour of Service and
each twelve month period that begins on an anniversary of such date. 

        2.12 "Employee"
means (i) any salaried or other non-bargaining unit employee in the United States (other than its territories and possessions) on the
payroll of any Employer as of October 1, 1985 and thereafter who is regularly engaged in rendering services to any Employer (on either a full-time or part-time basis),
and (ii) any bargaining unit employee whose eligibility to participate in the Plan is required pursuant to the terms of a collective bargaining agreement to which the Company or any Affiliated
Company is a party. Notwithstanding the foregoing, no person rendering services solely as a member of the board of directors of, or who is classified by an Employer as a consultant to or as a
distributor for, any Employer (on either a full-time or part-time basis) shall be considered an Employee. 

        2.13 "Employer"
means the Company or any Participating Company. 

        2.14 "Employer
Contribution Account" means the account consisting of the number of shares of stock or other shares or units in the investment funds described in  Section 6.2(a), purchased with Employer
Contributions made for such Participant, together with earnings thereon and with dividends paid on such
shares or units. 

        2.15 "Employer
Contributions" means the sum of (a) amounts attributable to matching employer contributions made to the Allen Telecom Plan prior to January 1,
1994, and (b) the matching contributions made hereunder pursuant to Section 4.2 by an Employer for Employees who are Participants. 

        2.16 "ERISA"
means the Employee Retirement Income Security Act of 1974, as amended from time to time, and any regulations issued pursuant thereto. 

        2.16A "Highly
Compensated Employee" means: 

        (a)   For
Plan Years commencing on and after January 1, 1997, any Employee (i) who, during the current or preceding Plan Year, was at any time a five percent
owner (as such term is defined in Code Section 416(i)(1)), or (ii) for the preceding Plan Year, received compensation from an Affiliate in excess of the amount in effect for such Plan
Year under Code Section 414(q)(1)(B) and was in the top-paid group of Employees for such Plan Year. 

        (b)   "Highly
Compensated Employee" shall include a former employee whose termination of employment with the Affiliated Companies occurred prior to the Plan Year and who was a
Highly 

4

 

Compensated
Employee for the Plan Year in which his termination of employment occurred or for any Plan Year ending on or after his fifty-fifth (55th) birthday. 

        (c)   For
the purposes of this Subsection, the term "compensation" shall mean (i) for the period prior to January 1, 1998, the sum of an Employee's compensation
under Section 5.2(c) and the Participant Contributions (subject to the limitation described in  Section 5.2C(a)) and elective or salary reduction
contributions pursuant to a cafeteria plan under Code Section 125 or a
tax-sheltered annuity under Code Section 403(b), and (ii) for the period commencing on and after January 1, 1998, an Employee's compensation under  Section 5.2(c) (subject to the
limitation described in Section 5.2C(a)). For purposes of
this Subsection, the term "top-paid group of Employees" shall mean that group of Employees of an Affiliate consisting of the top twenty percent (20%) of such Employees when ranked on the
basis of compensation paid by an Affiliate during the preceding Plan Year. 

        2.16B "Hour
of Service" means each hour credited in accordance with the following rules: 

        (a)   An
employee shall be credited with one (1) Hour of Service for each hour for which he is paid, or entitled to payment, by one or more Affiliates for the
performance of duties. 

        (b)   An
employee shall be credited with one (1) Hour of Service for each hour for which he is directly or indirectly paid, or entitled to payment, by one or more
Affiliates on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated). Notwithstanding anything in this Subsection to the
contrary, (i) no more than 501 Hours of Service shall be credited under this Subsection to an employee on account of any single continuous period during which he performs no duties (whether or
not such period occurs in a single Plan Year), (ii) an hour for which an employee is directly or indirectly paid, or entitled to payment, on account of a period during which no duties are
performed shall not be credited to the employee if the payment is made or due under a plan maintained solely for the purpose of complying with applicable workers' compensation or unemployment
compensation or disability insurance laws, and (iii) Hours of Service shall not be credited for a payment that solely reimburses an employee for medical or medically related expense incurred by
the employee. For purposes of this Subsection, an employee shall be credited with Hours of Service on the basis of his regularly scheduled working hours per week (or per day if he is paid on a daily
basis) or, in the case of an employee without a regular work schedule, on the basis of forty (40) Hours of Service per week (or eight (8) Hours of Service per day if he is paid on a
daily basis) for each week (or day) during the period of time during which no duties are performed; except that an employee shall not be credited with a greater number of Hours of Service for a period
during which no duties are performed than the number of hours for which he is regularly scheduled for the performance of duties during the period or, in the case of an employee without a regular work
schedule, on the basis of forty (40) Hours of Service per week (or eight (8) Hours of Service per day if he is paid on a daily basis). 

        (c)   An
employee shall be credited with one (1) Hour of Service for each hour for which back pay, irrespective of mitigation of damages, has been either awarded or
agreed to by one or more Affiliates; except that an hour shall not be credited under both Subsection (a) or (b), as the case may be, and this Subsection, and Hours of Service credited under
this Subsection with respect to periods described in Subsection (b) shall be subject to the limitations and provisions under Subsection (b). 

        (d)   No
hour shall be counted more than once or be counted as more than one (1) Hour of Service even though the employee may receive more than
straight-time pay for it. With respect to employees whose compensation is not determined on the basis of certain amounts for each hour worked during a given period and for whom hours are
not required to be counted and recorded by any federal law (other than ERISA), Hours of Service shall be credited on the basis of ten 

5

 

(10) Hours
of Service daily, forty-five (45) Hours of Service weekly, ninety-five (95) Hours of Service semi-monthly, or one hundred ninety
(190) Hours of Service monthly, if the employee's compensation is determined on a daily, weekly, semi-monthly or monthly basis, respectively, for each period in which the employee
would be credited with at least one (1) Hour of Service under this Section. Hours of Service shall be credited to eligibility computation periods and Plan Years in accordance with the
provisions of Department of Labor Regulation § 2530.200b-2, which provisions are incorporated in this Plan by reference. 

        (e)   If
an employee is absent from work because he is on a leave of absence approved by his Employer in keeping with its established uniform policies as to sick or personal
leave, or is on layoff, provided such employee returns to work within the period (and subject to such other requirements) established by his Employer in keeping with its uniform policies, then, solely
for purposes of determining whether there has been a Break in Service, the employee shall be credited with the number of Hours of Service that would normally have been credited to the employee but for
such leave of absence or layoff or, in the case where the number of Hours of Service that would normally have been credited to the employee cannot be determined, the employee shall be credited with
eight (8) Hours of Service per day of the absence or layoff; provided that such Hours of Service shall be credited for a maximum of two (2) years. 

        (f)    If
an employee is absent from work due to (i) the pregnancy of the employee, (ii) the birth of a child of the employee, (iii) the placement of a
child with the employee in connection with the adoption of such child by such employee, or (iv) caring for such child for a period beginning immediately following such birth or placement, then,
solely for purposes of determining whether there has been a Break in Service, the employee shall be credited with the number of Hours of Service which would normally have been credited to the employee
but for such absence, or, in the case where the number of Hours of Service which would normally have been credited to the employee cannot be determined, the employee shall be credited with eight
(8) Hours of Service per day for each day of the absence; provided that in any event, the number of Hours of Service to be credited on account of such absence shall not exceed 501 Hours of
Service. The Hours of Service to be credited hereunder as a result of pregnancy, childbirth, adoption or care of a new child shall be counted in the computation period in
which the absence from work begins, but only if such Hours of Service are necessary to prevent a Break in Service, and if such Hours of Service are not so necessary, then they shall be counted in the
immediately following computation period. No Hours of Service will be credited to an employee under this Subsection unless the employee furnishes to the Committee such timely information as the
Committee may reasonably require to establish (A) that the employee's absence from work is for a reason specified in this Subsection and (B) the number of days for which there was such
an absence. 

        2.17 "MARTA"
means MARTA Technologies, Inc. 

        2.17A "MARTA
Employee" means an Employee who is employed by MARTA. 

        2.17B "MARTA
Participant" means a MARTA Employee who becomes a Participant in this Plan pursuant to Section 3.1(a). 

        2.18 "Participant"
means an Employee who has become and continues to be a Participant in the Plan in accordance with the provision of  Article III. 

        2.19 "Participant
Contribution Account" means the account consisting of the number of shares of Stock and other units or shares in the investment funds described in  Section 6.2(a), and earnings and dividends thereon,
 acquired with his Participant Contributions. 

        2.20 "Participant
Contributions" means the contributions made hereunder by a Participant pursuant to Section 4.1(a)and
his Salary Reduction Election. 

6

 

        2.21 "Participating
Company" means any Affiliated Company that is designated by the Board as a Participating Company under the Plan and whose Employees may be Participants
and whose designation as such has become effective and has continued in effect. The designation shall become effective only when it shall have been accepted by the board of directors of the
Participating Company. A Participating Company may, by resolution of its board of directors, revoke its acceptance of such designation at any time, and the Board may revoke its designation of a
Participating Company at any time, but until such acceptance or such designation has been revoked all of the provisions of the Plan and amendments thereto shall apply to the Employees (and their
Beneficiaries) of the Participating Company. In the event the designation of a Participating Company as such is revoked by the board of directors of the Participating Company or by the Board, the Plan
will be deemed terminated only as to such Participating Company in accordance with ARTICLE XIV. 

        2.22 "Percentage
Match" means the portion or portions of the Employer Contributions described in Section 4.2(a). 

        2.23 "Plan"
means the Allen Telecom Inc. Employee Before-Tax Savings Plan, as may be amended from time to time. 

        2.24 "Plan
Year" means, for the first Plan Year, the period commencing on October 1, 1985 and ending on December 31, 1985, and thereafter means the annual
period beginning on each subsequent January 1 and ending on each immediately following December 31. 

        2.24A "Northern
Virginia Participant" means a Participant employed by the Grayson Wireless division of Allen Telecom Inc. and working at a Northern Virginia facility
on or after January 1, 1999. 

        2.25 "Retirement
Date" means the Participant's Normal, Postponed, Disability or Early Retirement Date as defined in  Article VIII. 

        2.25A "Rollover
Contribution Account" means the account of a Participant consisting of the number of shares of Stock or other shares or units in the investment funds
described in Section 6.2(a), purchased with Rollover Contributions of a Participant, together with earnings thereon and with dividends paid on
such shares or units. 

        2.25B "Rollover
Contributions" means the contributions made to the Plan by a Participant pursuant to Section 4.3." 

        2.26 "Salary
Reduction Election" means the written election of a Participant authorizing the Employer to make tax deferred contributions on his behalf pursuant to  Section 4.1(a). 

        2.27 "Stock"
means common stock of the Company. 

        2.28 "Termination
Date" means the date on which the Participant ceases to be an Employee, other than by reason of death or attaining a Retirement Date; provided that an
Employee who is in a period of involuntary layoff will not reach his Termination Date until the date six (6) months after the date on which such layoff commenced. 

        2.29 "Trust"
means the trust established under the Trust Agreement. 

        2.30 "Trust
Agreement" means "Directed Employee Benefit Trust Agreement between The Allen Group Inc. (now Allen Telecom, Inc.) and the Charles Schwab Trust
Company," as described in Section 13.3, entered into between the Company and the Trustee to carry out the purposes of the Plan and the other
plans referred to therein, which Trust Agreement, as modified from time to time, shall form a part of the Plan. 

        2.31 "Trust
Fund" or "Fund" means the cash, Stock and other investments held and administered in accordance with the provisions of the Trust Agreement and the Plan. 

        2.32 "Trustee"
means the Trustee selected by the Board as set forth in the Trust Agreement. 

7

 

        2.33 "Valuation
Date" means the last day of each calendar month on which trading occurs on a national securities exchange. With respect to the valuation of Stock, Valuation
Date means the last day of each calendar month on which trading of Stock occurs on a national securities exchange. 

        2.33A "Vesting
Service" means the period of employment used for determining a Participant's nonforfeitable right to his Additional Employer Contributions Account. A year of
Vesting Service shall be granted for each Plan Year in which an employee performs at least one thousand (1,000) Hours of Service, and years of Vesting Service shall be cumulative, subject to  Section 10.1A and the following: 

        (a)   If
any employee has a Break in Service and does not have a nonforfeitable right to any portion of the balance of his Account, years of Vesting Service before his Break
in Service shall be disregarded if the number of his consecutive Breaks in Service equals or exceeds the greater of five (5) or the aggregate number of his years of Vesting Service before his
Break in Service; and the length of his prior Vesting Service shall not include any time that is not required to be counted under this Section by reason of any prior Break in Service. 

        (b)   Vesting
Service shall not include service prior to a Break in Service until the Participant has completed one (1) year of Vesting Service after such Break in
Service. 

        (c)   Vesting
Service shall not include service after five (5) consecutive Breaks in Service for purposes of determining the vested portion of the Additional Employer
Contributions Account derived from Additional Employer Contributions prior to the Break in Service. 

        (d)   Anything
in the Plan to the contrary notwithstanding, an employee shall be credited with such Vesting Service not otherwise credited to him under the Plan as may be
required by applicable law. 

        2.34 "Year
of Eligibility Service (MARTA)" means an Eligibility Computation Period during which a MARTA Employee is credited with at least 1,000 Hours of Service. 

        Masculine
pronouns used herein shall refer to men or women or both and nouns and pronouns when stated in the singular shall include the plural and when stated in the plural shall include
the singular, wherever appropriate. 

ARTICLE III  

 Eligibility  

        3.1   

        (a)   Any
Employee who was a Participant in the Plan or who was an Allen Telecom Participant on December 31, 1993 shall continue to be or shall become a Participant in
the Plan as of January 1, 1994. Each other Employee who is not a MARTA Employee shall become eligible to participate in the Plan on the date on which he has completed six (6) months of
employment with the Affiliates, provided he is an Employee of a Participating Employer on the date of commencement of his participation. A MARTA Employee shall become eligible to participate in the
Plan on the day after the end of the Eligibility Computation Period (MARTA) in which he has completed one Year of Eligibility Service (MARTA), provided he is an Employee of a Participating Employer on
the date of commencement of his participation. 

        Each
Employee employed by Signal Science, Incorporated on October 1, 1996 shall be credited, for eligibility purposes under this Section, with his months of employment with Signal
Science, Incorporated. If an Employee employed by Signal Science, Incorporated was credited, as a result of the preceding sentence, with six (6) months of employment prior to October 1,
1996, he shall become a Participant as of October 1, 1996. In addition, an individual not otherwise covered 

8

 

by
the foregoing, who was a participant in the Signal Science, Incorporated Salary Deferral Plan on January 31, 1997 shall become a Participant in this Plan as of February 1, 1997. 

        (b)   Any
Employee who is eligible to participate in the Plan pursuant to Subsection (a) of this Section shall become a Participant in the Plan with respect to
Participant Contributions, After-Tax Contributions and Employer Contributions on the effective date of his enrollment pursuant to this Subsection. Any Employee described in
Subsection (a) of this Section may enroll as a Participant in the Plan by filing an enrollment form with the Committee which form shall include (i) his election, commencing on or after
such effective date, to have Participant Contributions and/or After-Tax Contributions made by or for him to the Trust Fund, (ii) if applicable, his Salary Reduction Election,
(iii) if applicable, his authorization to his Employer to withhold from his Compensation any designated After-Tax Contributions and to pay the same to the Trust, and (iv) his
direction that such Contributions made by or for him be invested in the investment funds as permitted by Article VI. Such enrollment shall be
effective as soon as practicable after the date the enrollment form is received by the Committee. 

        (c)   Any
Employee who is eligible to participate in the Plan pursuant to Subsection (a) of this Section and who is employed by Comsearch on the date he so becomes
eligible shall automatically become a Participant in the Plan with respect to Additional Employer Contributions after meeting such eligibility requirements (a "Comsearch Participant"). 

        (d)   Subject
to the following sentence, any Employee who is first eligible to participate in the Plan pursuant to Subsection (a) of this Section on or after
January 1, 1994 may make Rollover Contributions to the Plan as provided in Section 4.3 and shall be considered a Participant solely with
respect to such Rollover Contributions until he otherwise becomes a Participant pursuant to Subsection (b) or (c) of this Section. 

        (e)   A
Participant who incurs a Termination Date and again becomes an Employee shall be eligible to participate in the Plan as of the date of his reemployment. 

        (f)    An
Employee who is not a Participant, who incurs a Termination Date and who again becomes an Employee shall be eligible to participate in the Plan as of the later of
(i) the date of such reemployment, or (ii) the date on which he satisfies the service requirement of Subsection (a) of this Section. 

        (g)   Any
Employee who is eligible to participate in the Plan pursuant to Subsection (a) of this Section and who is employed by the Grayson Wireless division of the
Company at a Northern Virginia facility ("Northern Virginia Participant") on the date he so becomes eligible shall automatically become a Participant in the Plan with respect to Additional Employer
Contributions after meeting such eligibility requirements. 

        3.2   Individuals
who are Transferred Participants under the Instrument of Amendment of, and Spin Off from, the Plan of even date herewith  [June 10, 1993] ("Transferred Participants") shall cease to be Participants
effective upon the spin off and transfer of
the assets and liabilities of the Plan attributable to such Transferred Participants in accordance with the terms of such Instrument. During the period following the Closing (as defined in the
Acquisition Agreement between SPX Corporation and The Allen Group Inc., Dated As Of March 29, 1993) and preceding the transfer of assets and liabilities described in the preceding
sentence, solely for purposes of determining whether a Transferred Participant is entitled to a distribution of or from his Account under the Plan, the Transferred Participant's continued rendering of
services to SPX Corporation following the Closing (as defined in such Acquisition Agreement) shall be considered the rendering of services to an Employer, and a Transferred Participant shall not be
considered to have reached his Retirement Date or Termination Date while he continues to render services to SPX Corporation. 

9

 

        3.3   Any
Participant who is a Transferred Employee under the Contribution Agreement (the "Contribution Agreement") dated September 29, 1995 between
TransPro, Inc. and the Company (a "Transferred Participant") shall cease to be a Participant effective upon the spin off and transfer of all of the assets and liabilities of the Plan
attributable to such Transferred Participant in accordance with the terms of such Contribution Agreement. Notwithstanding the foregoing, a Transferred Participant shall remain a Participant so long as
a portion of the Trust Fund is held for his benefit under the Plan by the Trustee whether or not he continues to be an Employee. During the period following the Distribution Date (as defined in the
Contribution Agreement), solely for purposes of determining whether a Transferred Participant is entitled to a distribution of or from his Account under the Plan, the Transferred Participant's
continued rendering of services to TransPro, Inc. or any subsidiary or other affiliate thereof following the Distribution Date (as defined in the Contribution Agreement) shall be considered the
rendering of services to an Employer, and the Transferred Participant shall not be considered to have reached his Retirement Date or Termination Date while he continues to render services to
TransPro, Inc. or any of its subsidiaries or other affiliates. 

        3.4   Pursuant
to the Contribution Agreement dated September 29, 1995 between TransPro, Inc. and the Company, assets and liabilities are to be transferred from
this Plan to the GO/DAN Industries 401(k) Savings Plan, or its successor, effective January 1, 1996 (or as soon as practicable thereafter), or as of such date or dates mutually agreeable to the
Company and TransPro, Inc. 

ARTICLE IV  

 Contributions  

        4.1    Participant Contributions and After-Tax Contributions.    

        (a)   An
Employee who has satisfied the eligibility requirements specified in Section 3.1(a) and who has filed an
enrollment form as provided in Section 3.1(b) may agree pursuant to a Salary Reduction Election to have his Employer make Participant
Contributions to the Trust of not less than one percent (1%) nor more than twelve percent (12%) (seventeen percent (17%) effective March 1, 1994; twenty-five percent (25%) effective
January 1, 2002) of his Compensation (in whole percentage increments). 

        (b)   An
Employee who has satisfied the eligibility requirements specified in Section 3.1(a), who has filed an
enrollment form as provided in Section 3.1(b) and who is not a Highly Compensated Employee may make After-Tax Contributions to the
Trust of not less than one percent (1%) nor more than twelve percent (12%) of his Compensation (in whole percentage increments). 

        (c)   Notwithstanding
the foregoing, a Participant's Participant Contributions and After-Tax Contributions may not, in the aggregate, exceed eighteen percent (18%)
(twenty-five percent (25%) effective January 1, 2002) of his Compensation. The Committee shall have the discretion to reduce or suspend the Participant Contributions and/or
After-Tax Contributions of any Employee to satisfy any of the limits expressed in Article V. If any such reductions or suspensions
are necessary to satisfy those limits, the whole percentage increment requirements provided in Subsections (a) and (b) of this Section shall not apply. 

        (d)   Subject
to Subsection (c) of this Section, a Participant's Salary Reduction Election and/or election of After-Tax Contributions will be effective at
the time described in Section 3.1(b) and will be applicable to all subsequent payroll periods until suspended or amended by the Participant in
accordance with the provisions of this Section. Subject to Subsection (c) of this Section, the percentages of Compensation elected by a Participant as his rate of Participant Contributions
and/or After-Tax Contributions will continue in effect notwithstanding any change in his Compensation until suspended or amended by the Participant in accordance with the provisions of
this Section. 

10

  

        (e)   A
Participant's Participant Contributions and/or After-Tax Contributions shall be made by automatic payroll deduction by the Employer from the Participant's
Compensation. Such amounts shall be transmitted to the Trustee by the Company as soon as practicable after the payroll period to which the Contribution relates, but in no event later than the 15th
business day of the month following the month in which the amounts would otherwise have been payable to the Participant in cash or as of the date otherwise specified in Department of Labor Regulation
Section 2510.3-102. 

        (f)    A
Participant shall not make any Participant Contributions and/or After-Tax Contributions and shall not have any Employer Contributions made for him for any
payroll period for which (i), in accordance with Subsection (g) of this Section, he has elected to discontinue all Participant Contributions and After-Tax Contributions, or
(ii) he has no Compensation. Except as otherwise provided in Article III, a Participant described in this Subsection shall continue to be considered a Participant for all other purposes
of the Plan. 

        (g)   A
Participant may suspend his Participant Contributions and/or his After-Tax Contributions at such time or times prescribed by the Committee by filing the
prescribed form with the Committee during such periods prescribed by the Committee and designating whether such suspension will be for a designated or indefinite period. Any suspension elected
pursuant to the preceding sentence shall be effective as soon as practicable after the date such suspension election is received by the Committee. The Committee may prescribe a minimum period for such
suspensions. Upon the expiration of any such minimum period prescribed by the Committee, a Participant who ceased making Participant Contributions and/or After-Tax Contributions for an
indefinite period may elect to resume such Contributions by filing with the Committee a new enrollment form pursuant to Subsection (a) or (b) of this Section. A Participant will not be
permitted to retroactively make up any Contributions suspended during a period of suspension under this Subsection. 

        (h)   A
Participant may amend his Salary Reduction Election and/or his election to make After-Tax Contributions during any month by filing the prescribed form with
the Committee on or before the last day of such month, and such changes elected by the Participant will become effective as soon as practicable after the date such amendment is processed. 

        (i)    A
Participant's Participant Contributions shall be allocated to his Participant Contribution Account and his After-Tax Contributions shall be allocated to
his After-Tax Contribution Account when invested by the Trustee in the applicable fund or funds described in Section 6.2. 

        4.2    Employer Contributions.    

        (a)   For
each payroll period, the Employer shall contribute to the Trust a percentage (the "Percentage Match") as follows: 

twenty-five
percent (25%) of the first one percent (1%) of Compensation contributed by the Participant; 

twenty-five
percent (25%) of the second one percent (1%) of Compensation contributed by the Participant; and 

fifty
percent (50%) of the third one percent (1%) of Compensation contributed by the Participant; 

        (b)   The
Board in its discretion may make an additional Employer Contribution at any time, subject to the limitations in  Section 5.2 herein and may at any time, within its discretion, increase or decrease
or suspend Employer Contributions. 

        (c)   All
Employer Contributions made pursuant to subsection (a) of this Section 4.2 shall be paid to the Trustee
as soon as practicable after the payroll period to which the contribution relates 

11

 

but
in no case later than the time prescribed by law for filing the federal income tax return of the Employer in respect of the taxable year of the Employer which ends within such Plan Year, including
any extensions which have been granted for the filing of such tax return. 

        (d)   Any
amount which may not be allocated as an Employer Contribution by reason of the limitations of Section 5.2
shall be held in a suspense account pursuant to Section 5.2(c). 

        (e)   Subject
to applicable law, the Company may from time to time offer to sell Stock held in its treasury to the Trustee for the accounts of Participants at prices
determined by the Board so long as the market price of such Stock on the date of sale equals or exceeds the price paid to the Company by the Trustee, which Stock may be purchased by the Trustee with
Participant Contributions, Rollover Contributions, After Tax Contributions, Employer Contributions, or Additional Employer Contributions as determined by the Company. 

        4.2A    Additional Employer Contributions.    

        (a)   For
each Plan Year, Comsearch shall contribute to the Trust for each Comsearch Participant who is employed by Comsearch on the last day of such Plan Year an amount equal
to three percent (3%) of such Participant's Compensation that is attributable to service at Comsearch. For each Plan Year, the Employer shall contribute to the Trust for each Northern Virginia
Participant who is employed by the Employer on the last day of such Plan year an amount equal to three percent (3%) of such Northern Virginia Participant's Compensation that is attributable to service
at a Northern Virginia facility. 

        (b)   All
Additional Employer Contributions made pursuant to Subsection (a) of this Section shall be paid to the Trustee in whole or partial payments, at any time
during the Plan Year to which the Contribution relates or within the time following the close of such Plan Year that is prescribed by law for the filing of the Company's federal income tax return for
its tax year that corresponds to the Plan Year (including extensions thereof). 

        4.3    Rollover Contributions.    The Plan will accept direct rollovers, pursuant to Code Sections 401(a)(31) and
402(c), from any trust held under another plan in which the Employee was a participant that meets the requirements of Code Sections 401(a) and 501(a), provided that such a direct rollover is made by a
Participant or an Employee described in Section 3.1(d). The Plan will accept such Rollover Contributions either entirely in cash or in a
combination of cash and such other property (other than cash) as is acceptable to the Committee. 

        4.4    Military Service.    Notwithstanding any provisions of this Plan to the contrary, contributions, benefits and
service credit with respect to qualified military service will be provided in accordance with Section 414(u) of the Code. "Qualified military service" means any service in the uniformed
services (as defined in chapter 43 of title 38 of the United States Code) by any individual if such individual is entitled to reemployment rights under such chapter with respect to such
service. 

ARTICLE V  

 Allocation Of Contributions and Limitations  

        5.1    Allocation of Contributions.    

        (a)   All
Participant Contributions, After-Tax Contributions and Rollover Contributions shall be allocated to the Participant's Participant Contribution Account,
After-Tax Contribution Account or Rollover Contribution Account, respectively, when invested by the Trustee in the applicable fund or funds described in  Section 6.2. 

        (b)   All
Employer Contributions shall be allocated to the Participant's Employer Contribution Account when invested by the Trustee in the applicable fund or funds described
in Section 6.2. 

12

 

        (c)   All
Additional Employer Contributions shall be allocated to the Participant's Additional Employer Contributions Account when invested by the Trustee in the applicable
fund or funds described in Section 6.2. 

        5.1A    Reallocation of Forfeitures.    Amounts forfeited, if any, for a Plan Year pursuant to  Section 10.1A and Section 5.3(e) shall be used first to provide for the reasonable
expenses of the administration of the Plan, and then to restore Accounts in the manner described in Section 10.1A. Any remaining forfeitures
shall be used to reduce future Employer Contributions or Additional Employer Contributions hereunder. 

        5.2    Provisions Pursuant to Code Section 415(c).    

        (a)   Notwithstanding
any other provision of the Plan, the annual additions (as defined in Subsection (b) of this Section) to a Participant's Account in any Plan Year
(which shall be the limitation year) shall in no event exceed the lesser of thirty thousand dollars ($30,000) (or, if greater, one-fourth (1/4) of the dollar limitation in
effect under Code Section 415(b)(1)(A)), or twenty-five percent (25%) of his compensation for such Plan Year. 

        (b)   For
purposes of this Section, the term "annual additions" means the sum for any Plan Year of: 

          (i)  all
contributions made by the Affiliates that are allocated to the Participant's account pursuant to a defined contribution plan maintained by an Affiliate, 

         (ii)  all
employee contributions made by the Participant to a defined contribution plan maintained by an Affiliate, 

        (iii)  all
forfeitures allocated to the Participant's account pursuant to a defined contribution plan maintained by an Affiliate, 

        (iv)  any
amount allocated to an individual medical benefit account (as defined in Code Section 415(c)(2)) of the Participant that is part of a pension or annuity
plan, and 

         (v)  any
amount attributable to medical benefits allocated to the Participant's account established under Code Section 419A(d)(1) if the Participant is or was a key
employee (as such term is defined in Code Section 416(i)) during such Plan Year or any preceding Plan Year. 

        (c)   For
the purposes of this Section, the term "compensation" shall mean compensation within the meaning of Code Section 415(c)(3) and regulations thereunder. 

        (d)   If
a Participant's annual additions would exceed the limitations of Subsection (a) of this Section for a Plan Year as a result of the allocation of forfeitures, a
reasonable error in estimating the Participant's Compensation, or a reasonable error in determining the amount of Participant Contributions and/or After-Tax Contributions that may be made
with respect to the Participant under the limitations of this Section (or other facts and circumstances that the Commissioner of Internal Revenue finds justify application of the following rules of
this Subsection), After-Tax Contributions (if any) made by the Participant for such Plan Year that constitute part of the annual addition (together with any gains attributable thereto)
shall be returned to the Participant to the extent necessary to effectuate such reduction. If the return of all such After-Tax Contributions is not sufficient to effectuate such reduction,
Participant Contributions (if any) made by the Participant for such Plan Year that constitute part of the annual addition (together with any gains attributable thereto) shall be returned to the
Participant to the extent necessary to effectuate such reduction. If the return of all such After-Tax Contributions and Participant Contributions is not sufficient to effectuate such
reduction, Employer Contributions allocable to such Participant's 

13

 

Account
for such year shall, to the extent necessary to effectuate such reduction, be allocated to a suspense account and shall be used to reduce future Employer Contributions. 

        (e)   The
provisions of Section 415 of the Code and the regulations promulgated thereunder are hereby incorporated by reference. The provisions of this Section shall be
effective January 1, 1987. 

        5.2A    Provision Pursuant to Code Section 415(e).    

        [Deleted—Effective
for Plan Years commencing on and after January 1, 2000.] 

        5.2B    Definitions.    

        (a)   For
purposes of applying the limitations set forth in Section 5.2, all qualified defined contribution plans
(whether or not terminated) ever maintained by one or more Affiliated Companies will be treated as one defined contribution plan, and all qualified defined benefit plans (whether or not terminated)
ever maintained by one or more Affiliated Companies will be treated as one defined benefit plan. 

        (b)   For
purposes of this Section and Section 5.2, the terms "Affiliated Company" and "Affiliates" shall be construed
in accordance with Code Section 415(h). 

        5.2C    Excess Deferrals.    

        (a)   Notwithstanding
the provisions of Article IV, a Participant's Participant Contributions for any taxable year of
such Participant shall not exceed the limitation in effect under Code Section 402(g) in effect at the beginning of such taxable year. Except as otherwise provided in this Section, a
Participant's Participant Contributions for purposes of this Section shall include (i) any employer contribution made under any qualified cash or deferred arrangement as defined in Code
Section 401(k) to the extent not includable in gross income for the taxable year under Code Section 402(a)(8) (determined without regard to Code Section 402(g)), (ii) any
employer contribution to the extent not includable in gross income for the taxable year under Code Section 402(h)(1)(B) (determined without regard to Code Section 402(g)) and
(iii) any employer contribution to purchase an annuity contract under Code Section 403(b) under a salary reduction agreement within the meaning of Code Section 3121(a)(5)(D). 

        (b)   In
the event that a Participant's Participant Contributions exceed the amount described in Subsection (a) of this Section (hereinafter called "excess deferrals"),
such excess deferrals (and any income allocable thereto) shall be distributed to the Participant by April 15 following the close of the taxable year in which such excess deferrals occurred if
(and only if), by April 15 of such taxable year the Participant (i) allocates the amount of such excess deferrals among the plans under which the excess deferrals were made and
(ii) notifies the Committee of the portion allocated to this Plan. 

        (c)   In
the event that a Participant's Participant Contributions under this Plan exceed the amount described in Subsection (a) of this Section, or in the event that a
Participant's Participant Contributions made under this Plan do not exceed such amount but he allocates a portion of his excess deferrals to his Participant Contributions made to this Plan, Employer
Contributions, if any, made with respect to such Participant Contributions (and any income allocable thereto) shall be applied to reduce subsequent Employer Contributions required under the Plan. 

        5.3    Excess Participant Contributions.    

        (a)   Notwithstanding
the provisions of Article IV, for any Plan Year, 

          (i)  the
actual deferral percentage (as defined in Subsection (b) of this Section) for the group of Highly Compensated Eligible Employees (as defined in Subsection
(c) of this 

14

 

Section)
for such Plan Year shall not exceed the actual deferral percentage for all other Eligible Employees (as defined in Subsection (c) of this Section) for such Plan Year multiplied by
1.25, or 

         (ii)  the
excess of the actual deferral percentage for the group of Highly Compensated Eligible Employees for such Plan Year over the actual deferral percentage for all other
Eligible Employees for such Plan Year shall not exceed two (2) percentage points, and the actual deferral percentage for the group of Highly Compensated Eligible Employees for such Plan Year
shall not exceed the actual deferral percentage for all other Eligible Employees for such Plan Year multiplied by two (2). 

If
two or more plans that include cash or deferred arrangements are considered as one plan for purposes of Code Sections 401(a)(4) or 410(b), such arrangements included in such plans shall be treated
as one arrangement for the purposes of this Subsection; and if any Highly Compensated Eligible Employee is a participant under two or more cash or deferred arrangements of the Affiliated Companies,
all such arrangements shall be treated as one cash or deferred arrangement for purposes of determining the deferral percentage with respect to such Highly Compensated Eligible Employee. 

        (b)   For
the purposes of this Section, the actual deferral percentage for a specified group of Eligible Employees for a Plan Year shall be the average of the ratios
(calculated separately for each Eligible Employee in such group) of (i) the amount of Participant Contributions and Employer Contributions (which, for purposes of this Section are being treated
by the Company as qualified matching contributions in accordance with Code Section 401(k)(3)(D) and Treasury Regulations issued thereunder) actually paid to the Trust for each such Eligible
Employee for such Plan Year (including any "excess deferrals" described in Section 5.2C(b)) to (ii) the Eligible Employee's compensation
for such Plan Year. For the purposes of this Subsection, the term "compensation" shall mean (i) for the period
prior to January 1, 1998, the sum of an Eligible Employee's compensation under Section 5.2(c), his Participant Contributions and any
amounts contributed under a plan that satisfies the requirements of Section 125 of the Code (subject to the limitations described in Code Section 401(a)(17)), and (ii) for the
period commencing on and after January 1, 1998, an Eligible Employee's compensation under Section 5.2(c) (subject to the limitations
described in Code Section 401(a)(17). 

        (c)   For
the purposes of this Section, the term "Eligible Employee" for a particular Plan Year means an Employee who is eligible to participate in the Plan pursuant to  Section 3.1(a) and the term "Highly
Compensated Eligible Employee" for a particular Plan Year shall mean any Highly Compensated Employee who is
an Eligible Employee. 

        (d)   In
the event that excess contributions (as such term is hereinafter defined) are made to the Trust for any Plan Year, then, prior to March 15 of the following
Plan Year, such excess contributions (and any income allocable thereto) shall be distributed to the Highly Compensated Eligible Employees on the basis of the respective portions of the excess
contributions attributable to each such Eligible Employee. For the purposes of this Subsection, the term "excess contributions" shall mean, for any Plan Year, the excess of (i) the aggregate
amount of Participant Contributions and Employer Contributions actually paid to the Trust on behalf of Highly Compensated Eligible Employees for such Plan Year over (ii) the maximum amount of
such Participant Contributions and Employer Contributions permitted for such Plan Year under Subsection (a) of this Section, determined by reducing Participant Contributions and Employer
Contributions made on behalf of Highly Compensated Eligible Employees beginning with the Highly Compensated Eligible Employee with the highest dollar amount of Participant Contributions. 

15

 

        (e)   Employer
Contributions under Section 4.2(a) made with respect to a Participant's excess contributions (and any
income allocable thereto) shall be forfeited and applied as provided in Section 5.1A. Notwithstanding the foregoing, any excess contributions to
be distributed hereunder shall be reduced by any excess deferrals previously distributed under Section 5.2C for the Plan Year. 

        (f)    This
Section shall be effective on or after January 1, 1997. 

        5.3A    Monitoring Procedures.    

        (a)   In
order to ensure that at least one of the actual deferral percentages specified in Section 5.3(a) is satisfied
for each Plan Year, the Committee shall monitor (or cause to be monitored) the amount of Participant Contributions and Employer Contributions being made to the Plan by or for each Eligible Employee
during each Plan Year. In the event that the Committee determines that neither of such actual deferral percentages will be satisfied for a Plan Year, and if the Committee in its sole discretion
determines that it is necessary or desirable, the Participant Contributions, and/or the Employer Contributions made thereafter by or for each Highly Compensated Eligible Employee (as defined in  Section 5.3(c)
) may be reduced (pursuant to non-discriminatory rules adopted by the Committee) to the extent necessary to decrease
the actual deferral percentage for Highly Compensated Eligible Employees for such Plan Year to a level that satisfies either of the actual deferral percentages. 

        (b)   In
order to ensure that excess deferrals (as such term is defined in Section 5.2C(b)) shall not be made to the
Plan for any taxable year for any Participant, the Committee shall monitor (or cause to be monitored) the amount of Participant Contributions being made to the Plan for each Participant during each
taxable year and may take such action (pursuant to non-discriminatory rules adopted by the Committee) to prevent Participant Contributions made for any Participant under the Plan for any
taxable year from exceeding the maximum amount applicable under Section 5.2C(a). 

        (c)   The
actions permitted by this Section are in addition to, and not in lieu of, any other actions that may be taken pursuant to other Sections of the Plan or that may be
permitted by applicable law or regulation in order to ensure that the limitations described in Sections 5.2C through 5.3 are met. 

        5.3B    Testing Procedures.    In applying the limitations set forth in  Section 5.3, the Committee may, at its option, utilize
such testing procedures as may be permitted under Code Sections 401(a)(4), 401(k), 401(m)
or 410(b), and the regulations thereunder, including, without limitation, (a) aggregation of the Plan with one or more other qualified plans of the Affiliates, (b) restructuring of the
Plan or any other qualified plan of the Affiliates into one or more component plans, (c) inclusion of qualified matching contributions, qualified nonelective contributions or elective deferrals
described in, and meeting the requirements of, Treasury Regulations under Code Sections 401(k) and 401(m) to any other qualified plan of the Affiliates in applying the limitations set forth in  Section 5.3, or (d) any permissible combination thereof. 

ARTICLE VI  

 Investments  

        6.1    Investment of Trust Fund.    

        (a)   All
contributions to the Plan, earnings thereon and dividends and interest paid on investments held in Participants' Accounts shall be held and invested by the Trustee
as part of the Trust in accordance with the Plan and Trust Agreement. All such assets of the Plan shall be invested by the Trustee as soon as practicable either in (i) one of the investment
funds described in 

16

 

 Section 6.1(b) or (ii) short term securities or similar investments, unless the Trustee, in its discretion, refrains from making any such investments whenever in
the light of current market conditions it deems such to be in the best interests of the Participants and Beneficiaries, and thereafter in one or more of the investment funds described in  Section 6.1(b). Subject to the applicable provisions of the Plan and Trust Agreement, the Trustee shall administer and account for each
investment fund separately. The Trustee shall invest and reinvest the principal and income of each such investment fund. Dividends, interest and other distributions received by the Trustee in respect
of each investment fund shall be reinvested in the same investment fund. 

        (b)   The
Trust Fund (other than the portion of the Trust Fund consisting of the Loan Accounts) shall be divided into the Allen Common Stock Fund and such other investment
funds as the Committee may in its discretion select or establish from time to time. The Committee, in its sole discretion, may establish separate investment funds for some or all Participants, or for
different portions of Participants' Accounts. 

        (c)   Upon
the direction of the Committee, the Trustee may combine part or all of the assets of the Plan for investment purposes with other funds held under pension or
profit-sharing or other plans or trusts qualified within the meaning of, and exempt from taxation under, the Code, and permitted by existing or future rulings of the Internal Revenue Service to pool
their respective funds in a group trust, and the provisions of any such group trust shall be deemed a part of the Plan with respect to any such investment or reinvestment. 

        6.2    Investment of Contributions.    

        (a)   Each
Participant may, in such manner as is set forth by the Committee for such purpose and pursuant to rules and procedures adopted by the Committee, direct that his
entire Account, including repayments of a loan, shall be invested in any or all of the investment funds under the Plan (including the Allen Common Stock Fund). 

        (b)   Each
Participant and each Beneficiary of a deceased Participant shall have the right from time to time to elect to transfer all or part of the value of his existing
Account from one investment fund to another, in accordance with rules and procedures adopted by the Committee for this purpose. 

        (c)   The
Committee shall adopt, and may amend from time to time, general rules of uniform application which shall provide for the administration of each such investment fund,
including, but not limited to, rules providing for (i) the method of valuing each such fund, (ii) procedures pursuant to which a Participant may elect to have all or a designated part of
his Account invested in any investment fund, (iii) the method of changing any such election by either the Participant or his Beneficiary and the frequency with which such elections may be made,
(iv) the investment fund in which a Participant's Account will be invested in the absence of an effective election, and (v) any other matter which the Committee deems necessary or
advisable in the administration of the investment funds. 

        6.3    [RESERVED]    

        6.4    Trustee's Discretion.    The Trustee shall purchase such number of shares of Stock and such other units or
shares of the investment funds described in Section 6.1 as may be purchased with amounts from time to time received by the Trustee and held in
the Cash Fund at such times and on such dates as the Trustee, in its sole discretion, shall determine, subject to all applicable regulations imposed by the Securities and Exchange Commission. Such
purchases shall be made by the Trustee on a national securities exchange at market prices current at the time of purchase or in such other manner as the Trustee, in its sole discretion, may determine.
All shares of Stock and other shares or units of the investments funds purchased by the Trustee at a particular price shall be added to the Participant Contribution Account, Rollover Contribution
Account, After-Tax Contribution Account, Employer 

17

 

Contribution
Account and Additional Employer Contributions Account, as applicable, of each Participant in proportion to the amounts of Participant Contributions, Rollover Contributions and
After-Tax Contributions made by, and Employer Contributions and Additional Employer Contributions made for, the Participant which are used in making said purchase. 

ARTICLE VII  

 Valuation of Accounts  

        7.1    Accounts.    The balance of each Participant's Account shall be maintained under the direction of the
Committee. Each Participant's Account shall consist of the value of the Funds described in Section 6.2 in which such Participant's Participant
Contributions, After-Tax Contributions, Rollover Contributions, Employer Contributions and Additional Employer Contributions, respectively, have been invested, including any earnings,
losses and other increases and decreases attributable thereto, and less any payments or withdrawals from such Accounts. 

        7.2   The
fair market value of each Account shall be determined as of each Valuation Date. 

        7.3    Statement of Participant Accounts.    As soon as practicable after the end of each Plan Year and at any other
time selected by the Committee, a statement will be issued to each Participant showing the value of his Participant Contribution Account, After-Tax Contribution Account, Rollover
Contribution Account, Employer Contribution Account and Additional Employer Contribution Account valued in accordance with such valuation method or methods as the Committee deems appropriate. 

        7.4    Voting and Consents.    Stock held by the Trustee in Participant Contribution Accounts, After-Tax
Contribution Accounts, Rollover Contribution Accounts, Employer Contribution Accounts and Additional Employer Contribution Accounts shall be voted by the Trustee at each meeting of stockholders of the
Company as instructed in writing by the Participant to whose account such Stock is credited, subject to the provisions of this Section 7.4. The
Company shall cause each Participant to be provided with a copy of the notice of each meeting of stockholders and the proxy statement relating thereto, together with an appropriate form for the
Participant to indicate his voting or consent instructions to the Trustee, at least twenty (20) days prior to such meeting. If instructions are not received by the Trustee with respect to any
Stock at least ten (10) days prior to such meeting, the Trustee shall vote the uninstructed Stock or give such consents in the same proportions as the Trustee was instructed to vote or give
such consents with respect to all of the Stock held in Participant Contribution Accounts, After-Tax Contribution Accounts, Rollover Contribution Accounts, Employer Contribution Accounts
and Additional Employer Contribution Accounts for which it received instructions. Shares and units (other than Stock) held by the Trustee in Participant Contribution Accounts, After-Tax
Contribution Accounts, Additional Employer Contribution Accounts and Rollover Contribution Accounts shall be voted by the Trustee in its discretion. 

        7.5    Tender or Exchange Offer.    In the event of a tender or exchange offer for shares of Stock, the Committee
shall utilize its best efforts to timely distribute or cause to be distributed to each Participant (or, in the event of his death, his Beneficiary) such information as will be distributed to
stockholders of the Company in connection with any such tender or exchange offer, together with a form requesting confidential instructions as to whether or not shares of Stock in such Participant's
Participant Contribution Account, After-Tax Contribution Account, Rollover Contribution Account, Employer Contribution Account and Additional Employer Contribution Account shall be
tendered or exchanged by the Trustee. Each Participant (or his Beneficiary) shall have the right, to the extent of shares of Stock in the Participant Contribution Account, After-Tax
Contribution Account, Rollover Contribution Account, Employer Contribution Account and Additional Employer Contributions Account of such Participant, to direct the Trustee in writing as to the manner
in which to respond to such tender or exchange offer, and the Trustee shall respond in accordance with the instructions so received. If the Trustee shall not receive timely direction from a
Participant (or his Beneficiary) as to the manner in 

18

 

which
to respond to such tender or exchange offer, the Trustee shall not tender or exchange any shares of Stock held in such Participant's Participant Contribution Account, After-Tax
Contribution Account, Rollover Contribution Account, Employer Contribution Account and Additional Employer Contributions Account and the Trustee shall have no discretion in such matter. The Trustee
shall not divulge to the Company the instructions of any Participant. In the event of a tender or exchange offer for shares or units (other than Stock), the Trustee shall tender or exchange any shares
or units held in Participants' Participant Contribution Accounts, After-Tax Contribution Accounts, Rollover Contribution Accounts, Employer Contribution Accounts and Additional Employer
Contributions Accounts, in its discretion. 

ARTICLE VIII  

 Retirement and Disability  

        8.1    Normal Retirement Date.    The Normal Retirement Date of a Participant shall be the date of his sixty-fifth
(65th) birthday if such birthday falls on the first day of a calendar month, or the first day of the calendar month next following the date of his sixty-fifth (65th) birthday, if such birthday does
not fall on the first day of a calendar month; provided, however, that for all purposes of the Plan, the Normal Retirement Date of a Participant who shall die between the date of his sixty-fifth
(65th) birthday and the first day of the month next following his sixty-fifth (65th) birthday shall be the date of death of such Participant. 

        8.2    Postponed Retirement Date.    If a Participant remains in the employment of an Employer beyond his Normal
Retirement Date, then the date on which he shall retire from employment if it falls on the first
day of a calendar month, or the first day of the calendar month next following the date on which such Participant shall retire from employment if he does not retire on the first day of a calendar
month, shall be his Postponed Retirement Date. 

        8.3    Disability Retirement Date.    The Disability Retirement Date of a Participant shall be the date ninety
(90) days after he suffers a Disability if he suffers a Disability on the first day of a calendar month, or the first day of the calendar month next following the date ninety (90) days
after he suffers a Disability if the date he suffers a Disability does not fall on the first day of a calendar month; provided that such Disability is still in existence on his Disability Retirement
Date. The term "Disability", as used herein, shall mean a condition which qualifies as a condition of total disability under either (a) the provisions of the United States Social Security Law
from time to time in effect or (b) the provisions of any long-term disability plan maintained by the Company from time to time. The Committee shall be the sole and final judge as to
whether a Participant has suffered a Disability and as to whether such Disability has ceased, and its judgment with respect thereto shall be final, conclusive and binding upon the Participant and all
other persons. In determining whether or not a Participant has suffered or continues to suffer a Disability, the Committee may require the Participant to furnish medical information or other necessary
data when requested. Failure of a Participant to furnish such information or data when requested shall be sufficient reason for the Committee to determine that the Participant has not suffered, or is
no longer suffering, a Disability. 

        8.3A    Early Retirement Date.    If a Participant ceases to be an Employee on or after the date of his fifty-fifth
(55th) birthday and before his Normal Retirement Date, other than by reason of death or Disability, then the date on which he ceases to be an Employee or the first day of the calendar month next
following such date, if such date is not the first day of a calendar month, shall be his Early Retirement Date. 

        8.4    Benefit at Retirement.    A Participant who retires as an Employee on or after he attains a Retirement Date
will be entitled to receive a distribution of his Account in accordance with the provisions of Article XI. 

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   ARTICLE IX  

 Death  

        9.1    Death While Actively Employed.    If a Participant dies while employed by an Employer, his Beneficiary shall be
entitled to receive a distribution of the Participant's Account in accordance with the provisions of Article XI. 

        9.2    Death After Retirement or Termination.    If a Participant dies after he attains a Retirement Date, or after
his Termination Date occurs, any part of his Account remaining at the time of his death shall be distributed in a single sum to his Beneficiary, in the form the Participant shall have directed prior
to the date of his death pursuant to the terms of Article XI below; provided,  however, that if no such
direction had been made by the Participant prior to the date of his death, then such distribution shall be made to the
Beneficiary pursuant to Subsection (a) of Section 11.1. 

ARTICLE X  

 Vesting and Termination of Employment  

        10.1    Vesting.    

        (a)   A
Participant shall at all times have a fully (100%) vested and nonforfeitable interest in the balance of his Participant Contribution Account, his After-Tax
Contribution Account, his Rollover Contribution Account and his Employer Contribution Account. A Participant shall be 100% vested in his entire Account upon his death or the attainment of his Normal
or Disability Retirement Date while in the employ of an Affiliate. 

        (b)   A
Participant shall have a vested and nonforfeitable interest in the balance of his Additional Employer Contributions Account, if any, in accordance with the following
vesting schedule: 

	Years of Vesting Service
 
	 	Vested Interest
	 
	Less than 3 Years	 	0	%
	3 Years	 	20	%
	4 Years	 	40	%
	5 Years	 	60	%
	6 Years	 	80	%
	7 Years or more	 	100	%

        10.1A    Loss of Non-Vested Sub-Account.    

        (a)   If
the vested and nonforfeitable interest of a Participant's Account (his "Vested Interest") is paid to him in a lump sum on account of his termination of employment
with all Affiliates, the portion, if any, of such Participant's Account that is not vested and nonforfeitable upon such termination (his "Non-Vested Sub-Account") shall be
forfeited and reallocated pursuant to Section 5.1A. For purposes of this Section, if a Participant's Vested Interest in his Account at the time
of his Termination of Employment is zero, such interest shall be deemed to have been paid to him in a lump sum at the time of his termination of employment. If the Vested Interest of a Participant is
paid (or deemed to be paid) to him in a lump sum as described in the preceding sentence, such Participant's years of Vesting Service to which such lump sum payment relates shall thereafter be
disregarded for the purpose of determining his Vested Interest in the amount attributable to Additional Employer Contributions forfeited as a result of such payment. Notwithstanding the provisions of
the immediately preceding sentence, however, if (i) such Participant's Vested Interest is less than 100% of his Account, (ii) he is rehired by a Participating Company before he incurs
five consecutive Breaks in Service and (iii) he repays to the Trust, not 

20

 

later
than the earlier of (A) the end of the five-year period beginning with his date of rehire or (B) the close of the first period of five consecutive Breaks in Service
incurred by him after such payment (or deemed payment) of his Vested Interest, an amount equal to such payment, (I) his said years of Vesting Service to which such payment related shall be
reinstated for all purposes of the Plan and (II) the amount of his Account shall be restored, as of the date of such repayment, to an amount equal to the sum of the amount paid to him and the
amount forfeited under the provisions of this Subsection. For purposes of the preceding sentence, a Participant whose Vested Interest was deemed to have been distributed to him at the time of his
Termination of Employment shall be deemed to have repaid such distribution upon his rehire by a Participating Company, provided he is rehired before incurring five consecutive Breaks in Service. 

        (b)   If
a Participant's Vested Interest in his Account at the time of his Termination of Employment exceeds zero and is not paid to him as a result of such Termination of
Employment, his Non-Vested Sub-Account shall be provisionally forfeited and reallocated pursuant to Section 5.1A. If a
Participant who provisionally forfeits his Non-Vested Sub-Account pursuant to this Subsection is not rehired by a Participating Company before incurring five consecutive Breaks
in Service, he shall have such Sub-Account permanently forfeited upon incurring such five consecutive Breaks in Service. A Participant whose Non-Vested Sub-Account
is permanently forfeited shall not have such Sub-Account reinstated upon his reemployment with a Participating Company. If a Participant who provisionally forfeits his
Non-Vested Sub-Account pursuant to this Subsection is subsequently rehired by a Participating Company before such Sub-Account is permanently forfeited, he shall not
forfeit such Non-Vested Sub-Account by reason of his Termination of Employment and, upon such reemployment, such Non-Vested Sub-Account shall be
reinstated as of the date he is so reemployed by means of a special contribution to the Plan. 

        (c)   Amounts
required for the restoration or reinstatement of an Account pursuant to Subsection (a) or (b) of this Section shall be taken from forfeitures described in  Section 5.1A; provided, however, that
if the forfeitures are insufficient for this purpose, any additional amounts required for the restoration
or reinstatement of Accounts shall be obtained from a special contribution made by the Employers. 

        10.2    Termination of Employment.    On his Termination Date, a Participant shall be entitled to receive a
distribution of his Account in accordance with the provisions of Article XI. 

ARTICLE XI  

 Payment of Benefits  

        11.1    Form of Payment.    A Participant's Account, payable to or with respect to a Participant at his Retirement
Date, Termination Date or date of death, whichever first occurs, shall be paid to him or his Beneficiary in one of the following forms, as the Participant or his Beneficiary shall direct, upon written
application made to the Committee after the Participant's Retirement Date, Termination Date or date of death, as the case may be: 

        (a)   (i) In
whole shares of the Stock held in his Account and cash in lieu of fractional shares of Stock held in his Account, and (ii) the remainder of his
Account in cash; or 

        (b)   (i) In
whole shares of Stock held in his Account and cash in lieu of fractional shares of Stock held in his Account; (ii), only with respect to the portion (if
any) of the Participant's Account attributable to Participant Contributions and/or Employer Contributions made before September 15, 1988, in whole shares or units from the other investment
funds provided in Section 6.2 that are capable of distribution in shares or units and cash in lieu of fractional shares or units from such
investment funds; and (iii) the remainder of his Account in cash; or 

        (c)   All
in cash. 

21

 

        The
Committee shall provide the Participant or Beneficiary with the application form (which shall contain a general description of the optional forms of benefit under the Plan and such
other information required to be provided under Section 402(f) of the Code) no less than 30 days and no more than 90 days before a distribution or withdrawal is to be made.
Notwithstanding the foregoing, such distribution or withdrawal may be made or commence less than 30 days after such form and information
are provided to the Participant or Beneficiary, provided that: (a) the Committee informs the recipient that he has the right to a period of at least 30 days after receiving the
information to consider whether or not to elect a distribution or withdrawal (and, if applicable, a particular form of benefit) and (b) the recipient, after receiving the information,
affirmatively waives his right to such 30-day period and elects the distribution or withdrawal. 

        The
Committee shall notify the Trustee in writing of the form of payment to be made pursuant to this Section 11.1. 

        If
the Participant or his Beneficiary directs a distribution pursuant to Subsection (a) of this Section, then the Trustee, as soon as practicable after the date on which the
Trustee receives the aforementioned notice from the Committee, shall sell all shares or other units in the investment funds described in  Section 6.2 (except for whole shares of Stock) then in the
Participant's Account that are distributable hereunder, and the net proceeds received
by the Trustee from said sale, after deducting all stock transfer taxes, brokers' fees and commissions and other expenses of sale, together with the whole shares of Stock in the Participant's
Accounts, shall constitute the amount distributable pursuant to Subsection (a) of this Section. If the Participant or his Beneficiary directs a distribution pursuant to Subsection (b) of
this Section, then the Trustee, as soon as practicable after the date on which the Trustee receives the aforementioned notice from the Committee, shall sell all whole shares or other units in the
investment funds described in Section 6.2 that are not distributable in kind pursuant to Paragraph (i) or (ii) Subsection (b) of
this Section and any fractional shares or units in the investment funds described in Section 6.2 then in the Participant's Account that are
distributable hereunder, and the net proceeds received by the Trustee from said sale, after deducting all stock transfer taxes, brokers' fees and commissions and other expenses of sale, together with
the whole shares or other units in the investment funds described in Section 6.2 that are distributable in kind pursuant to Paragraph (i)
or (ii) of Subsection (b) of this Section, shall constitute the amount distributable pursuant to Subsection (b) of this Section. Notwithstanding the foregoing, with respect to any
Employee who becomes a Participant after December 6, 1988, if the number of whole shares of Stock held in such Participant's Account is less than one hundred (100) shares, any
distribution of such Participant's Account shall be made all in cash. 

        11.2    Method of Payment.    The distributions to be made to or with respect to a Participant from his Participant
Contribution Account, After-Tax Contribution Account, Rollover Contribution Account, Employer Contribution Account and Additional Employer Contribution Account and from the Cash Fund, if
applicable, at his Retirement Date, Termination Date or date of death, shall be made to him or his Beneficiary in one of the following methods, or combinations thereof, as the Participant or
Beneficiary elects: 

        (a)   In
a single sum as soon after the Participant's Retirement Date, Termination Date or date of death as the Committee deems practicable; or 

        (b)   By
payment in not less than twelve (12) nor more than forty (40) equal quarterly installments (the first such installment to be paid as soon as practicable
after the Participant's Retirement Date, Termination Date or date of death). Payments shall be made in installments only if the Participant or
his Beneficiary shall have directed distribution to be made entirely in cash pursuant to clause (b) of Section 11.1, or 

        (c)   With
respect to Participants who were participants with account balances in the Signal Science, Incorporated Salary Deferral Plan on February 1, 1997, the date of
its merger into this 

22

 

Plan,
by payment in monthly, quarterly, or annual installments over a period not to exceed the life or life expectancy of the Participant or his designated Beneficiary. 

        11.3    When Benefits Must Commence.    In any event, distribution of a Participant's Participant Contribution
Account, After-Tax Contribution Account, Rollover Contribution Account, Employer Contribution Account and Additional Employer Contribution Account payable to or with respect to a
Participant pursuant to Section 11.2, unless otherwise agreed to by the Participant, shall be made or commence no later than the sixtieth (60th)
day after the last to occur of: 

        (a)   the
close of the Plan Year in which the Participant dies or attains his sixty-fifth (65th) birthday; 

        (b)   the
close of the Plan Year in which the Participant completes ten (10) years of participation hereunder; or 

        (c)   the
close of the Plan Year in which the Participant leaves the employ of the Company and all Affiliated Companies. 

        11.4    Code Section 401(a)(9) Requirements.    

        (a)   Notwithstanding
any other provision of the Plan, to the extent required under Section 401(a)(9) of the Code, the vested Account of a Participant who is a 5% owner
(as defined in Section 416 of the Code) or who attains 701/2 prior to January 1, 2002 shall be distributed to him in a single sum payment or shall commence to be
distributed to him in one of the forms permitted under Section 11.2 no later than April 1 of the calendar year following the calendar year
in which he attains age 701/2. The vested Account of any other Participant must be distributed or commence to be distributed not later than April 1 of the calendar year
following the later of (i) the calendar year in which he attains age 701/2 or (ii) the calendar year in which he incurs a Termination Date. 

        (b)   If
a Participant dies after distribution of the amount credited to his Account has commenced, the remaining portion of his Account shall continue to be distributed to
his Beneficiary at least as rapidly as under the method of distribution being used prior to the Participant's death. If a Participant dies prior to the commencement of the distribution of his Account,
the entire Account of the Participant under the Plan (i) shall be paid to the Participant's Beneficiary in a single sum no later than December 31 of the calendar year which contains the
fifth anniversary of the date of the Participant's death, or (ii) shall commence to be paid to the Beneficiary no later than December 31 of the calendar year immediately following the
calendar year in which the Participant died in the form specified in Section 11.2(b). If the Beneficiary is the Participant's surviving spouse,
the commencement date described in clause (ii) of this Subsection (b) shall be the later of (i) December 31 of the calendar year immediately following the calendar year in
which the Participant died, or (ii) December 31 of the calendar year in which the Participant would have attained age 701/2. 

        (c)   Distributions
under this Section shall be made in accordance with the provisions of Section 401(a)(9) of the Code and Treasury Regulations issued thereunder,
which provisions are hereby incorporated by reference, provided that such provisions shall override the other distributions provisions of the Plan only to the extent that such other Plan provisions
provide for distribution that is less rapid than required under the provisions of the Code and Regulations. Nothing contained in this Subsection shall be construed as providing any optional form of
payment that is not available under the other distribution provisions of the Plan. 

        11.5    Involuntary Cash-Out.    If the vested and nonforfeitable interest of a Participant's Account (his
"Vested Interest") does not exceed $5,000, such Participant shall receive a lump sum distribution of 

23

 

his
Vested Interest, subject to the provisions of Section 12.4. In the absence of direction, pursuant to  Section 11.1, such lump sum distribution
shall be made all in cash. 

        11.6    Distribution on Sale of MARTA Technologies, Inc.    Notwithstanding any other provision of the Plan, a
Participant employed by MARTA Technologies, Inc. ("Marta"), whose employment with Marta continued following the closing date of the sale of Marta to Envirotest Systems Corporation, shall be
eligible to receive a distribution of his Vested Interest in accordance with Section 401(k)(10) of the Code. Moreover, if such Participant's Vested Interest does not exceed $5,000, such
Participant shall receive a lump sum distribution of his Vested Interest, subject to the provisions of Section 12.4. In the absence of direction,
pursuant to Section 11.1, such lump sum distribution shall be made all in cash. 

        11.7    Distribution on Sale of Assets of Signal Science, Incorporated.    Notwithstanding any other provision of the
Plan, a Participant employed by Signal Science, Incorporated ("SSI"), whose employment following the closing date of the sale of assets of SSI to Condor Systems, Inc. ("Condor") continued with
Condor, shall be eligible to receive a distribution of his Vested Interest in accordance with Section 401(k)(10) of the Code. Moreover, if the Vested Interest of a Participant employed by SSI,
whose employment following the closing date of the sale of assets of SSI to Condor continued with Condor, does not
exceed $5,000, such Participant shall receive a lump sum distribution of his Vested Interest, subject to the provisions of Section 12.4. In the
absence of direction, pursuant to Section 11.1, such lump sum distribution shall be made all in cash. 

        11.8    Distributions under Qualified Domestic Relations Orders.    For purposes of making distributions under the
provisions of a Qualified Domestic Relations Order (as such term is defined in Section 414(p) of the Code), the Plan's Qualified Early Retirement Age with regard to the Participant against whom
the order is entered shall be the date the order is determined to be qualified. This will only allow payout to the alternate payee(s). 

ARTICLE XII  

 Withdrawals  

        12.1    General.    No repayment of any withdrawal made pursuant to this Article shall be permitted. No withdrawals
from the Plan during employment shall be permitted, other than as provided in this Article XII. In connection with any withdrawal made pursuant
to this ARTICLE XII, a Participant's Accounts shall be valued as of the Valuation Date coincident with or next following the date on which the
Committee receives the Participant's written request for withdrawal. No "penalty" of any kind shall be associated with any such withdrawal. 

        12.1A    Withdrawals of After-Tax Contributions.    A Participant, upon written request to the Committee,
may elect, on a form or in such other manner as approved by the Committee, to withdraw all or a portion of his After-Tax Contribution Account (including earnings and appreciation thereon).
Notwithstanding the foregoing, After-Tax Contributions (and the net earnings thereon) which have not been credited to a Participant's Account for at least two years may not be withdrawn,
unless the Participant has been a Participant in the Plan for at least five years. The minimum withdrawal amount under this Section 12.1A shall
be $250 (or, if less, the total value of the After-Tax Contribution Account, including earnings and appreciation thereon, on the applicable Valuation Date). A Participant shall be
permitted to make only one (1) withdrawal under this Section 12.1A during any twelve (12) month period. 

        12.2    Hardship Withdrawals.    (a) A Participant who has obtained all withdrawals (other than hardship
withdrawals) and all nontaxable loans currently available under all plans maintained by the Company and the Affiliates, upon a showing of "hardship" (as such term is hereinafter defined) and upon a
written request to the Committee, may elect, on a form provided by the Committee, to withdraw from his Participant Contribution Account (excluding earnings credited to such Account after 

24

 

December 31,
1988) and Rollover Contribution Account, all or any portion of the balance credited to such Accounts (excluding earnings credited to the Participant Contribution Account after
December 31, 1988). For purposes of this Section, a withdrawal will be on account of hardship if, as determined by the Committee in a nondiscriminatory manner and in its sole discretion, the
withdrawal is necessary in light of an immediate and heavy financial need on the part of the Participant for: (i) expenses for medical care described in Code Section 213(d) previously
incurred by the Participant, his spouse or dependents or expenses necessary for those persons to obtain such medical care, (ii) costs directly related to the purchase (excluding mortgage
payments) of a principal residence for the Participant, (iii) payment of tuition and related educational fees for the next twelve months of post-secondary education for the
Participant, his spouse or dependents, (iv) payments necessary to prevent the eviction of the Participant from his principal residence or foreclosure on the mortgage of the Participant's
residence, or (v) any other financial need which the Commissioner of Internal Revenue, through the publication of revenue rulings, notices and other documents of general applicability, may from
time to time designate as a deemed immediate and heavy financial need as provided in Treas. Regulation Section 1.401(k)-1(d)(2)(iv)(C). Hardship withdrawals shall not be in excess
of the amount necessary to alleviate the hardship (including amounts necessary to pay any taxes or penalties reasonably anticipated to result from such withdrawal). 

        (b)   If
a withdrawal on account of hardship is made to a Participant pursuant to this Section, the following rules shall apply notwithstanding any other provision of the Plan
(or any other plan maintained by an Affiliate) to the contrary: (i) the Participant's Participant Contributions and After-Tax Contributions (or any comparable contributions to any
other qualified or non-qualified plan (other than a welfare benefit plan) maintained by the Company and the Affiliates) shall be suspended for a period of 12 months following
receipt of the hardship withdrawal, and (ii) the amount of the Participant's Participant Contributions (and any comparable contributions to any other plan (other than a welfare plan) maintained
by the Company and the Affiliates) for the Participant's taxable year immediately following the taxable year of the hardship withdrawal shall not be in excess of the applicable limit under Code
Section 402(g) for such next taxable year less the amount of such Participant's Participant Contributions made to the Plan (and any other plan (other than a welfare plan) maintained by the
Company and the Affiliates) for the taxable year of the hardship withdrawal. 

        12.2A    Age 591/2 Withdrawals.    A Participant, upon the attainment of
age 591/2 and upon written request to the Committee, may elect, on a form or in such other manner as approved by the Committee, to withdraw all or any portion of the Vested
Interest in his Account. The minimum withdrawal amount under this Section 12.2A shall be $1,000 (or, if less, the total value of the Vested
Interest in the Participant's Account on the applicable Valuation Date). 

        12.3    Form of Payment.    Withdrawals made by or to a Participant pursuant to this Article shall be paid and
distributed to him in one of the following forms, as the Participant shall direct in his written request for a withdrawal delivered to the Committee: 

        (a)   (i) In
whole shares of Stock held in his Account and cash in lieu of fractional shares of Stock held in his Account, and (ii) the remainder in cash; or 

        (b)   (i) In
whole shares of Stock held in his Account and cash in lieu of fractional shares of Stock held in his Account; (ii) only with respect to the portion
(if any) of the Participant's Account attributable to Participant Contributions and/or Employer Contributions made before September 15, 1988, in whole shares or units from the other investment
funds provided in Section 6.2 that are capable of distribution in shares or units and cash in lieu of fractional shares or units from such
investment funds; and (iii) the remainder in cash; or 

        (c)   All
in cash. 

25

 

        If
no such direction as to the form of payment is received from the Participant hereinbefore set forth, then such distribution shall be made as set forth in Subsection (c) of this
Section. The Committee, within ten (10) days after the date the request for a withdrawal is delivered to it, shall notify the Trustee in writing of the form of payment to be made pursuant to
this Section 12.3. As soon as practicable after the date on which the Trustee receives the aforementioned notice from the Committee, the Trustee
shall follow the procedures set forth in Section 11.1 for determining the amount distributable to a Participant pursuant to each Subsection of
this Section. Notwithstanding the foregoing, with respect to any Employee who becomes a Participant after December 6, 1988, if the number of whole shares of Stock held in such Participant's
Account is less than one hundred (100) shares, any distribution of such Participant's Account shall be made all in cash. 

        12.4    Transfers of Eligible Rollover Distributions.    

        (a)   If
a Participant or spouse of a Participant is eligible to receive a distribution from the Plan that constitutes an "eligible rollover distribution" (as defined in
Subsection (c) of this Section) and the Participant or spouse elects to have all or a portion of such distribution paid directly to an "eligible retirement plan" (as defined in
Subsection (c) of this Section) and specifies the eligible retirement plan to which the distribution is to be paid, such distribution (or portion thereof) shall be made in the form of a direct
rollover to the eligible retirement plan so specified. A Participant or spouse may not elect a direct rollover of a portion of an eligible rollover distribution unless the amount to be rolled over is
at least $500. A direct rollover is a payment made by the Plan to the eligible retirement plan so specified
for the benefit of the Participant or spouse. Notwithstanding the preceding provisions of this Section, a direct rollover of an eligible rollover distribution shall not be made if a Participant's or
spouse's eligible rollover distributions for a Plan Year are reasonably expected to total less than $200. Unless otherwise specifically provided herein, for purposes of this Section, the term "spouse"
shall include a former spouse who is an alternate payee under a qualified domestic relations order, as defined in section 414(p) of the Code. 

        (b)   The
Committee shall prescribe reasonable procedures for elections to be made pursuant to this Section. Within a reasonable period of time (as prescribed by Treasury
regulations or rulings) before the payment of an eligible rollover distribution, the Company shall provide a written notice to the Participant or spouse describing his or her rights under this Section
and such other information required to be provided under section 402(f) of the Code. 

        (c)   For
purposes of this Section, the term "eligible rollover distribution" means any distribution of all or any portion of the balance to the credit of the distributee from
the Plan, except (1) any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the
distributee or the joint lives (or joint life expectancies) of the distributee and the distributee's designated beneficiary, or for a specified period of ten years or more, (2) any distribution
to the extent the distribution is required under section 401(a)(9) of the Code, (3) the portion of any distribution that is not includable in gross income, (4) any "hardship"
distribution (as defined in Code Section 401(k)), and (5) such other amounts specified in Treasury regulations or rulings issued under section 402(c) of the Code. For purposes of
this Section, the term "eligible retirement plan" means an individual retirement account or annuity described in section 408 of the Code, a defined contribution plan that meets the requirements
of section 401(a) of the Code and accepts rollovers, an annuity plan described in section 403(a) of the Code, or any other type of plan that is included within the definition of
"eligible retirement plan" under section 401(a)(31)(D) of the Code; provided however, that with respect to a spouse (but not a former spouse who is an alternate payee) who receives a
distribution after a Participant's death an "eligible retirement plan" shall mean only an individual retirement account or annuity described in section 408 of the Code. 

26

 

        (d)   The
provisions of this Section are intended to comply with the provisions of section 401(a)(31) of the Code and shall be interpreted in accordance with such
section and Treasury regulations and rulings issued thereunder. The provisions of this Section shall be effective for distributions under the Plan on and after January 1, 2000. 

ARTICLE XIIA  

 Loan Provisions  

        12A.1    A Participant who is a party in interest (as defined in Section 3(14) of ERISA), excluding a Transferred Participant as defined in  Section 3.3 of the Plan, with respect to the Plan may apply on a form or in such other manner as approved by the Committee for a loan from his
Account. Each loan shall be charged against the Participant's Account as set forth in the Participant Loan Program. 

        12A.2    Each
loan shall be in an amount which is not less than $500.00. A Participant may have no more than three (3) loans outstanding at any one time. The Participant
will be charged such fees as are determined by the Committee and set forth in the Participant Loan Program, which fees shall be used to reimburse the Plan for the costs of providing such loans. The
maximum loan to any Participant (when added to the outstanding balance of all other loans to the Participant from all "qualified employer plans" (as defined in Code Section 72(p)(4)) of all
Affiliated Companies) shall be an amount which does not exceed the lesser of 

        (a)   $50,000,
reduced by the excess (if any) of (i) the highest outstanding balance of such other loans during the one-year period ending on the day before
the date on which such loan is made, over (ii) the outstanding balance of such other loans on the date on which such loan is made, or 

        (b)   50%
of the value of such Participant's Account on the date on which such loan is made, or 

        (c)   an
amount that will result in annual payments of principal and interest equal to twenty-five percent (25%) of the Participant's Compensation for the Plan
Year preceding the year in which the loan is to be made. 

        12A.3    For
each Participant for whom a loan is authorized pursuant to this Article, the Committee shall (a) direct the Trustee to liquidate the Participant's interests
in the investment funds (described in Section 6.2) as directed by the Committee, to the extent necessary to provide funds for the loan,
(b) direct the Trustee to disburse such funds to the Participant upon the Participant's execution of the Note referred to in  Section 13A.4, (c) transmit the executed Note to the Trustee
or to a custodian designated by the Trustee and (d) establish and
maintain a separate record keeping account within the Participant's Account (the "Loan Account") (i) which initially shall be in the amount of the loan, (ii) to which the funds
for the loan shall be deemed to have been allocated and then disbursed to the Participant, (iii) to which the Note shall be allocated, and (iv) which shall show the unpaid principal of
and interest on the Note from time to time. All payments of principal and interest by a Participant on a loan shall be credited initially to his Loan Account and applied against the Participant's
Note, and then invested in the investment funds pursuant to the Participant's direction under Section 6.2. The Committee shall value each
Participant's Loan Account as of each Valuation Date. Notwithstanding any
other provisions of the Plan, a Participant's Loan Account shall constitute a part of his Account under the Plan. 

        12A.4    Loans
made pursuant to this Article: 

        (a)   shall
be made available to all Participants on a reasonably equivalent basis; 

27

 

        (b)   shall
not be made available to "highly compensated employees" (as defined in Code Section 414(q)) in a percentage amount greater than the percentage amount made
available to other Participants; 

        (c)   shall
be secured by the Participant's Loan Account; 

        (d)   shall
not be made unless the Participant consents to the reduction of his Account under the circumstances described in  Section 13.5; and 

        (e)   shall
be evidenced by a promissory note and security agreement (the "Note") executed by the Participant which provides for: 

        (i)    the
security referred to in Subsection (c) of this Section; 

        (ii)   a
reasonable rate of interest, determined by the Committee, which provides the Plan with a return commensurate with the prevailing interest rate charged by persons in
the business of lending money for loans which would be made under similar circumstances; 

        (iii)  repayment
within a specified period of time, which shall not extend beyond five years; 

        (iv)  repayment
in equal payments over the term of the loan, with substantially level amortization and payments not less frequently than quarterly; and 

        (v)   for
such other terms and conditions as the Committee shall determine, which shall include provision that: 

        (A)  with
respect to a Participant who is an Employee, the loan will be repaid pursuant to authorization by the Participant of equal payroll deductions over the repayment
period sufficient to amortize fully the loan within the repayment period; 

        (B)  the
loan shall be prepayable in whole at any time without penalty; and 

        (C)  the
loan shall be in default and become immediately due and payable upon the first to occur of the following events: 

        (I)   the
Participant's failure to make two consecutive required payments on the promissory note; 

        (II)  the
Participant's death; 

        (III) in
the case of a Participant who is an Employee or an employee of GO/DAN Industries at the time the loan is made, termination of the Participant's employment with all
Affiliated Companies and with GO/DAN Industries or revocation of the authorization referred to in Subparagraph (A) of this Paragraph; 

        (IV) in
the case of a Participant who is not an Employee or an employee of GO/DAN Industries at the time the loan is made, commencement of distribution of his Account; or 

        (V)  the
filing of a petition, the entry of an order or the appointment of a receiver, liquidator, trustee or other person in a similar capacity, with respect to the
Participant, pursuant to any state or federal law relating to bankruptcy, moratorium, reorganization, insolvency or liquidation, or any assignment by the Participant for the benefit of his creditors. 

28

   
        12A.5    Notwithstanding any other provision of the Plan, a loan made pursuant to this Article shall be a first lien against the Participant's Loan Account. Any amount of
principal or interest due and unpaid on the loan at the time of any default on the loan, and any interest accruing thereafter, shall be satisfied by deduction from the Participant's Loan Account, and
shall be deemed to have been distributed to the Participant, as follows: 

        (a)   in
the case of a Participant who, at the time of the default, is an Employee and is not eligible to receive distribution of his Account, at such time as he first becomes
eligible (without regard to the required filing of an application pursuant to Section 11.1) to receive distribution of his Account; or 

        (b)   in
the case of any other Participant, immediately upon such default. 

        12A.6    Notwithstanding
any other provision of the Plan, loan repayments will be suspended under the Plan as permitted under Section 414(u)(4) of the Code (for
Participants on a leave of absence for "qualified military service" (as defined in Section 4.4 of the Plan)). 

ARTICLE XIII  

 Administration of the Plan  

        13.1    Appointment of a Committee.    Subject to the limitations set forth in  ARTICLE VI and Section 13.3 relating to investment of the assets of the Plan, the
authority to control and manage the operation and administration of the Plan shall be vested in an Employee Before-Tax Savings Plan Committee of not less than five (5) members
appointed by the Board which shall be the Plan Administrator as described in Section 3(16)(A) of ERISA and shall have the rights, duties and obligations of a Plan Administrator under ERISA.
Such members shall be appointed from time to time by the Board and shall serve at the pleasure of the Board. No member of the Committee shall receive any compensation for his services as such. 

        13.2    Meetings of the Committee.    The Committee shall hold meetings upon such notice, at such place or places and
at such intervals as it may from time to time determine. A majority of the members of the Committee at any time in office shall constitute a quorum for the transaction of business at a meeting of the
Committee. All resolutions or other actions taken by the Committee shall be (a) by vote of a majority of those members present at a meeting of the Committee or (b) without a meeting by
instrument in writing signed by a majority of the members of the Committee. 

        13.3    The Trustee.    The Board shall appoint the Trustee. The Company, upon the authorization of the Board, and the
Trustee shall execute a Trust Agreement under which the powers and duties of the Trustee shall be set forth and under the terms of which the Trust Fund shall be established from which the benefits
provided by the Plan shall be paid. The Trustee shall be independent of the Company and, subject to ARTICLE VI, shall have sole discretion as to
investment of the assets of the Plan. Neither the Company nor any Affiliate of the Company shall have any control or influence over the times or prices at which Stock is purchased by the Trustee or
the amounts of any of such purchases or the manner in which any of such purchases are made. The Board may remove the Trustee at any time pursuant to the terms of the Trust Agreement. Upon the removal
or the resignation of the Trustee, the Board shall designate a successor Trustee. 

        13.4    Expenses of Administration.    The reasonable expenses of the Committee incurred in the performance of its
duties shall be reimbursed by the Company. All costs of administering the Plan, including, but not limited to, stock transfer taxes, if any, incurred in connection with the distribution of Stock or
other investment fund shares or units, as the case may be, in kind, to a Participant or his Beneficiary as hereinbefore provided, fees paid to the Trustee appointed under the Trust Agreement, to
attorneys, accountants and actuaries and to other agents hired or retained by the Committee, and 

29

 

unusual
costs and expenses, such as, but not limited to, costs and expenses of litigation involving the Plan shall be borne and paid by the Plan, unless the Company elects to pay any such costs. 

        13.5    Prohibited Transactions.    Notwithstanding anything to the contrary herein contained, no member of the
Committee shall, and the Trustee shall not, at any time engage in any act of commission or omission which would constitute a "Prohibited Transaction" as set forth in ERISA. 

        13.6    Powers and Duties.    In addition to those hereinbefore set forth, the Committee shall have the following
specific powers and duties: 

        (a)   to
make and enforce such rules and regulations as it shall deem necessary or proper for the efficient administration of the Plan; 

        (b)   to
interpret the provisions of the Plan (including, without limitation, by supplying omissions from, correcting deficiencies in, or resolving inconsistencies or
ambiguities in, the language of the Plan), to make factual findings with respect to any issue arising under the Plan, to determine the rights and status under the Plan of Participants and other
persons, to decide disputes arising under the Plan and to make determinations and findings (including factual findings) with respect to the benefits payable thereunder and the persons entitled thereto
as may be required for the purposes of the Plan, to resolve all questions (including factual questions) arising under the Plan as to any individual's entitlement to become a Participant, to determine
the amount of benefits, if any, payable with respect to any person under the Plan (including, to the extent necessary, making any factual findings with respect thereto), and to conduct the claims and
review procedure specified in Section 13.11; 

        (c)   to
compute the amounts which shall be payable to any Participant or Beneficiary in accordance with the provisions of the Plan; 

        (d)   to
authorize disbursements from the Trust Fund in accordance with the Plan; provided that any instructions of the Committee to the Trustee shall be evidenced in writing
and signed by a member of the Committee delegated with such authority by a majority of the Committee; and 

        (e)   to
engage such attorneys, accountants, brokers, actuaries and other agents as the Committee may specify, in its judgment, to be necessary or advisable in the
administration of the Plan, without liability for any negligent omission, misconduct, mistake or default of any such person selected or retained with the care, skill, prudence and diligence referred
to in Section 13.7(b) of this ARTICLE XIII, and to establish and authorize payment of the
reasonable compensation of such attorneys, brokers, accountants, actuaries, and other agents and any other charges and expenses deemed to be reasonable and necessary; provided, however, if any of the
foregoing powers shall at any time be inconsistent with any provisions of ERISA or any regulations promulgated thereunder, then any such power shall be denied to the Committee. 

        13.7    Exercise of Plan Duties.    The Trustee, the members of the Committee and all other fiduciaries shall
discharge their duties hereunder solely in the interest of the Participants and their Beneficiaries and 

        (a)   For
the exclusive purpose of: 

        (i)    providing
benefits to Participants and their Beneficiaries; and 

        (ii)   defraying
reasonable expenses of administering the Plan; and 

        (b)   With
the care, skill, prudence and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would
use in the conduct of an enterprise of a like character and with like aims. 

30

 

        13.8    Liability of Committee Members.    No member of the Committee will be liable for any act of omission or
commission except as expressly provided by ERISA. 

        13.9    Reliance on Reports and Certificates.    The Committee shall be entitled to rely conclusively upon all tables,
valuations, certificates, options and reports that will be furnished by any actuary, accountant, controller, counsel, employee of the Company or other person who is employed or engaged for such
purposes. 

        13.10    Member's Own Participation.    No member of the Committee may act, vote or otherwise influence a decision of
the Committee specifically relating to his own participation in the Plan. 

        13.11    Claims.    

        (a)   Claims
for benefits under the Plan shall be made in writing to the Committee. If such claim for benefits is wholly or partially denied by the Committee, it shall, within
a reasonable period of time, but no later than ninety (90) days after receipt of the claim, notify the claimant in writing of the denial of the claim. Such notice of denial shall be written in
a manner calculated to be understood by the claimant, and shall contain (i) the specific reason or reasons for denial of the claim, (ii) a specific reference to the pertinent Plan
provisions upon which the denial is based, (iii) a description of any additional material or information necessary for the claimant to perfect the claim, together with an explanation of which
such material or information is necessary, and (iv) an explanation of the Plan's claim review procedure. 

        (b)   Within
120 days of the receipt by the claimant of the written notice of denial of the claim, or such later time as shall be deemed reasonable taking into account
the nature of the benefit subject to the claim and any other attendant circumstances, or if the claim has not been granted within ninety (90) days from the date such claim is delivered to the
Committee, the claimant may file a written request with the Committee that it conduct a full and fair review of the denial of the claimant's clam for benefits, including the conducting of a hearing,
if deemed necessary by the Committee. In connection with the claimant's appeal of the denial of his benefit, the claimant may review pertinent documents and may submit issues and comments in writing. 

        (c)   The
Committee shall render a decision on the claim review promptly, but not later than sixty (60) days after the receipt of the claimant's request for review,
unless special circumstances (such as the need to hold a hearing, if necessary) require an extension of time for processing, in which case the sixty (60) day period shall be extended to
120 days. Such decision shall (i) include specific reasons for this decision, (ii) be written in a manner calculated to be understood by the claimant and (iii) contain
specific references to the pertinent Plan provisions upon which the decision is based. The decision of the Committee shall be conclusive and binding. 

        13.12    Exclusive Benefit.    

        (a)   All
Participant Contributions, After-Tax Contributions, Rollover Contributions, Additional Employer Contributions and Employer Contributions shall be made to
the Trust Fund and all such Contributions and all other property of the Trust Fund, including income from investments and all other sources, shall be retained for the exclusive benefit of Participants
or their Beneficiaries and shall be used to pay benefits provided hereunder, and no part thereof or income therefrom at any time shall revert to any Employer. 

        (b)   Once
contributions are made to the Plan by an Employer, they are not refundable to the Employer; provided, however, that: 

        (1)   if
the deductibility of any Employer Contribution or Additional Employer Contribution to the Plan is denied under Section 404 of the Code, then, to the extent the
deduction is disallowed, the Trustee shall, upon written request of the Committee, return the Employer Contribution or Additional Employer Contribution or Stock purchased with such 

31

 

Contribution
to the Employer (to the extent disallowed) within one (1) year after the date the deduction is disallowed; and 

        (2)   if
an Employer Contribution, Additional Employer Contribution, Participant Contribution, After-Tax Contribution or Rollover Contribution or any portion
thereof is made by a mistake of fact, the Trustee shall, upon written request of the Committee, return such Employer Contribution or Additional Employer Contribution or portion thereof, and any income
thereon, or Stock purchased with such Employer Contribution or Additional Employer Contribution, to the Company, and any such Participant Contribution, After-Tax Contribution or Rollover
Contribution or portion thereof, and any income thereon, or Stock or other investment purchased with such Contribution, to the applicable Participant, within one (1) year after the date of
payment to the Trustee. 

        13.13    Correction of Errors.    Notwithstanding anything herein to the contrary, the Committee may take such actions
or permit such actions to be taken as are necessary and reasonably calculated to correct an administrative error made by an Employer, the Committee or any other fiduciary. 

        13.14    Electronic Media.    Notwithstanding any provision of the Plan to the contrary, including any provision which
requires the use of a written instrument, to the extent permitted by applicable law, the Committee may establish procedures for the use of electronic media in communications and transactions between
the Plan or the Committee and Participants and Beneficiaries. Electronic media may include, but are not limited to, e-mail, the Internet, intranet systems and automated telephonic response
systems. 

        13.15    Plan Conversions.    Notwithstanding any provision of the Plan to the contrary, during any conversion period,
in accordance with procedures established by the Committee, the Committee may temporarily suspend, in whole or in part, certain provisions of the Plan, which may include, but are not limited to, a
Participant's right to change his contribution election, a Participant's right to change his investment election and a Participant's right to borrow or withdraw from his Account or obtain a
distribution for his Account. 

ARTICLE XIV  

 Amendment and Termination  

        14.1    Amendment.    Except as set forth hereinbelow, the Plan may be amended at any time and from time to time by an
instrument in writing authorized by the Board without the approval of any Participating Company or of the stockholders of the Company. No amendment of the Plan shall be adopted which has the effect of
(a) revesting in the Company, any Employer or any Affiliated Company any interest in the assets of the Trust Fund or any part thereof, or (b) divesting a Participant of any benefits that
he would have been entitled to receive had he terminated his employment with the Company or any Employer immediately prior to the effective date of such amendment unless the conditions of
Section 203(c) of ERISA are satisfied. 

        14.2    Termination.    

        (a)   The
Plan will terminate with respect to any Employer on the first to occur of the following: 

        (i)    the
date it is terminated by the Company with respect to such Employer if thirty (30) days' advance written notice of the termination is given to the Committee,
the Employer and the Trustee; 

        (ii)   the
date such Employer ceases to be an Affiliated Company; 

32

 

        (iii)  The
date a Participating Company revokes its acceptance of its designation as a Participating Company; 

        (iv)  the
date the Company completely discontinues its Employer Contributions for Employees of such Employer (other than a complete discontinuance by the Company of its
Employer Contributions for all Employees of all Employers); 

        (v)   the
date the Employer is judicially declared bankrupt or insolvent; or 

        (vi)  the
dissolution, merger, consolidation or reorganization of the Employer, or the sale by the Employer of all or substantially all of its assets, except that, subject to
the provisions of paragraph (b) below, in any such event arrangements may be made whereby the Plan will be continued by any successor to the Employer or any purchaser of all or substantially
all of the Employer's assets, in which case the successor or purchaser will be substituted for the Employer under the Plan. 

The
approval of the stockholders of the Company shall not be required in connection with the termination of the Plan by the Company or the discontinuance by the Company of Employer Contributions
hereunder. 

        (b)   The
Company reserves the right to merge or consolidate the Plan with, and to transfer assets and liabilities of the Plan to, any other plan, without the consent of any
other Employer or other person, if such transfer is effectuated in accordance with applicable law and if such other plan meets the requirements of sections 401(a) and 501(a) of the Code,
permits the receipt of such transfer and, with respect to the liabilities to be transferred, satisfies the requirements of section 411(d)(6) of the Code. Without limiting the generality of the
foregoing, there shall not be any merger or consolidation of this Plan with, or transfer of assets or liabilities of this Plan to, any other plan, unless each Participant in the transferee plan would
(if such other plan then terminated) receive a benefit immediately after the merger, consolidation or transfer which is equal to or greater than the benefit he would have been
entitled to receive immediately before the merger, consolidation or transfer (if the Plan had then terminated). 

        14.3    Distribution of Funds Upon Termination of Plan.    Upon full or partial termination of the Plan, or complete
discontinuance of Employer Contributions or Additional Employer Contributions by the Company, each Participant affected by such full or partial termination, or discontinuance, will be immediately
entitled to receive all of the shares of Stock in his Employer Contribution Account or Additional Employer Contributions Account and in his Participant Contribution Account, After-Tax
Contribution Account and Rollover Contribution Account and all of the shares or other units in the investment funds described in Section 6.2
(other than the Allen Common Stock Fund) as of the Valuation Date coincident with or next following the date of such termination or discontinuance, plus a portion of the Cash Fund, if any, in
existence on such Valuation Date equal to the aggregate amount of Participant Contributions, After-Tax Contributions and Rollover Contributions made by him, Employer Contributions and
Additional Employer Contributions made for him and dividends and earnings on Stock and shares or units (other than Stock) in his Accounts that were not used to purchase Stock or were not invested in
any funds pursuant to Section 6.2 prior to such Valuation Date. Distribution of Participant Contribution Accounts, After-Tax
Contribution Accounts, Rollover Contribution Accounts, Employer Contribution Accounts and Additional Employer Contribution Accounts will be made in accordance with  ARTICLE XI. 

ARTICLE XV  

 Top-Heavy Provisions  

        15.1    Application.    If in any Plan Year the Plan is or becomes a Top-Heavy Plan within the meaning of  Section 15.2, then
the provisions of this ARTICLE XV shall apply for such Plan Year and
 

33

 

shall
supersede any conflicting provisions of the Plan. The date for determining the applicability of this ARTICLE XV (the "Determination Date")
is 

        (a)   for
the first Plan Year of the Plan, the last day of such Plan Year; and 

        (b)   for
any other Plan Year, the last day of the preceding Plan Year. 

        15.2    Top-Heavy Plan.    The Plan shall constitute a Top-Heavy Plan if, as of the
Determination Date, (a) the Plan is not part of an "Aggregation Group" (as hereinafter defined) and the aggregate of the accounts of "Key Employees" (as hereinafter defined) under the Plan
exceeds sixty percent (60%) of the aggregate of the accounts of all Employees under the Plan or (b) the Plan is included in an Aggregation Group and such Group is a "Top-Heavy
Group" (as hereinafter defined). 

        15.3    Definitions.    For purposes of this ARTICLE XV, the
following definitions shall apply: 

        (a)   The
term "Key Employee" means an Employee who at any time during the Plan Year or any of the four (4) preceding Plan Years is or was 

        (i)    an
officer of the Company or an Affiliate having an annual compensation greater than fifty percent (50%) of the amount in effect under Section 415(b)(1)(A) of the
Code for such Plan Year; provided, however, that no more than the lesser of (A) fifty
(50) Employees or (B) the greater of three (3) Employees or ten percent (10%) of all Employees are to be treated as officers; 

        (ii)   of
those Employees having annual compensation from the Company or an Affiliate greater than the limitation in effect under Section 415(c)(1)(A) of the Code and
who are any of the ten (10) owning the largest interests in the Company and an Affiliate; 

        (iii)  a
five percent owner (as defined in Code Section 416(i)(1)(B)) of the Company or an Affiliate; or 

        (iv)  a
one percent (1%) owner (as defined in Code Section 416(i)(1)(B) of the Company or an Affiliate having an annual compensation of more than one Hundred Fifty
Thousand Dollars ($150,000) from the Company and an Affiliate. 

For
purposes of paragraph (ii) of this Subsection, if two (2) Employees have equal interests in the Company or an Affiliate, the Employee with the greater annual compensation shall be
treated as having the larger interest. For purposes of this Article, the terms `Employee' and `Key Employee' shall include the Beneficiaries of such Employees in the event of death. For purposes of
this Subsection, the term "compensation' has the meaning given such term by Code Section 414(q)(7). 

        (b)   (i) The
term "Aggregation Group" means the group of plans that includes any plan maintained by the Company or an Affiliate (A) in which a Key Employee is a
participant or (B) that enables a plan in which a Key Employee is a participant to meet the requirements of Section 401(a)(4) or 410 of the Code. Collectively bargained plans that cover
a Key Employee shall be included for this purpose. 

        (ii)   In
any Plan Year, in testing for top-heaviness under paragraph (c), the Committee may in its discretion expand the Aggregation Group to take into
account any other plan maintained by the Company or an Affiliate, but only if such expanded Aggregation Group does not, as a result of such expansion, fail to meet the requirements of
Sections 401(a)(4) and 410 of the Code. Collectively bargained plans that do not cover a Key Employee may be included for this purpose. 

34

 

        (c)   The
term "Top-Heavy Group" means an Aggregation Group as to which, as of the Determination Date, the sum of 

        (i)    the
present value of the cumulative accrued benefits for Key Employees under all defined benefit plans included in such Group and 

        (ii)   the
aggregate of the accounts of Key Employees under all defined contribution plans included in such Group 

exceeds
sixty percent (60%) of the sum of such present values and accounts for all employees under all such plans in such Group. 

        (d)   The
term "compensation' shall have the meaning set forth in Code Section 415(c)(3), subject to the limitations of Code Section 401(a)(17). 

        15.4    Present Values and Accounts.    For purposes of Sections 15.2 and
15.3(c) of this ARTICLE XV, the following rules shall apply in determining the present value of the cumulative accrued
benefit for any Employee and the amount of the account of any Employee: 

        (a)   The
present value of accrued benefits and the value of accounts shall be determined as of the most recent Valuation Date that falls within, or on the last day of, the
twelve (12)-month period ending on the Determination Date; 

        (b)   Employer
Contributions, Additional Employer Contributions and Employee Contributions and After-Tax Contributions, with the exception of accumulated
deductible Employee Contributions, shall be taken into account; 

        (c)   All
amounts distributed to a Participant within the five (5)-year period ending on the Determination Date shall be taken into account, including any amount
distributed from a terminated plan that would have been required to be included in the Aggregation Group had it not been terminated; 

        (d)   With
respect to a transferee plan, any rollover contributions or similar transfer initiated by an Employee and made after December 31, 1983, shall be disregarded
(except to the extent provided in regulations issued by the Secretary of the Treasury); 

        (e)   If
an Employee ceases to be a Key Employee, such Employee's accrued benefit and account shall be disregarded (for purposes of determining the benefits and accounts of
both Key Employees and all Employees) for any Plan Year after the last Plan Year for which he was treated as a Key Employee; and 

        (f)    The
accrued benefits and accounts of persons who have not performed services for any Participating Employer maintaining the Plan during the five (5) year period
ending on the Determination Date shall be disregarded. 

        15.5    Vesting Requirements.    If the Plan is determined to be a Top-Heavy Plan in any Plan Year, then a
Participant's right to his Account derived from Employer Contributions or Additional Employer Contributions, determined as of the end of such Plan Year, shall vest in accordance with the following
schedule, unless a more rapid vesting schedule is in effect under the terms of the Plan: 

	Years of Vesting Service
 
	 	Vesting Percentage

	2	 	20
	3	 	40
	4	 	60
	5	 	80
	6 or more	 	100

35

 

If
the Plan ceases to be a Top-Heavy Plan in a Plan Year, then the vesting provision set forth in Article X shall apply for such Plan Year with respect to any portion of a
Participant's Account that is forfeitable as of the beginning of such Plan Year; provided, however, that
a Participant with three (3) or more years of vesting service shall be given the option of remaining under the vesting schedule set forth above. 

        15.6    Minimum Contribution.    If this Plan is determined to be a Top-Heavy Plan in any Plan Year, then
the Employer Contribution or Additional Employer Contributions for such Plan Year for each "participant" (as such term is defined for this purpose in regulations issued by the Secretary of the
Treasury) who is not a Key Employee shall not be less than three percent (3%) of such Participant's Compensation. The Employer Contribution or Additional Employer Contributions shall not, however,
exceed that percentage of each Participant's Compensation that is equal to the highest percentage of compensation at which contributions are made for the Plan Year for any Key Employee
(a) under the Plan or (b) if the Plan is part of an Aggregation Group, under any defined contribution plan in such Group; provided,  however, that
this sentence shall not apply if the Plan is required to be included in an Aggregation Group and enables a defined benefit plan to meet
the requirements of Section 401(a)(4) or 410 Of the Code. For purposes of this Section 15.6, Employer Contributions or Additional Employer
Contributions attributable to a salary reduction or similar arrangement shall be taken into account, and contributions made pursuant to Chapter 21 of Title II of the Social Security Act shall
be disregarded. For purposes of this Section, the term "participant" shall include all participants required by applicable Treasury Regulations to be treated as such who are not Key Employees and who
have not separated from service on the last day of the Plan Year, including, if required by applicable Treasury Regulations, (1) those who have failed to complete 1000 Hours of Service for such
Plan Year, (2) those who have been excluded from the Plan because their Compensation is less than a stated amount but who must be considered as participants to satisfy the coverage requirements
of Section 410(b) of the Code in accordance with Section 401(a)(5) of the Code and (3) those who have been excluded from the Plan because of a failure to make mandatory employee
contributions or, in the case of a cash or deferred arrangement, elective contributions. 

        15.7    [RESERVED]    

        15.8    Exception for Collectively Bargained Plans.    Sections 15.5, 15.6 and
15.7 of this ARTICLE XV shall not apply to any Employee who is included in a collective bargaining unit if there is evidence that retirement benefits were the subject of
good faith bargaining between the representatives of such unit and the Company or an Affiliate. 

        15.9    Combined Limit on Contributions and Benefits for Key Employees.    If the Plan is determined to be a
Top-Heavy Plan in any Plan Year, then the denominators of the defined benefit and defined contribution fractions for purposes of paragraphs (2)(B) and (3)(B) of
Section 415(e) of the Code for any Key Employee who participates in both a defined benefit plan and a defined contribution plan included in a Top-Heavy Croup shall be the lesser of
1.0 (as applied to the dollar limit) or 1.4 (as applied to the limit based upon compensation); provided, however, that this Section 15.9 shall
not apply if both of the following conditions are satisfied: 

        (a)   The
Employer Contribution or Additional Employer Contributions for such Plan Year for each Participant who is not a Key Employee is not less than four percent (4%) of
such Participant's Compensation; and 

        (b)   The
Plan would not be a Top-Heavy Plan if "ninety percent (90%)" were substituted for "sixty percent (60%)" in Sections 15.2
and 15.3(c) of this ARTICLE XV. 

36

 

ARTICLE XVI  

 General Provisions  

        16.1    No Guarantee of Employment.    The Plan shall not be deemed to constitute a contract between any Employer and
any Employee or to be a consideration for, or an inducement for, the employment of any Employee by any Employer. Nothing contained in the Plan shall be deemed to give any Employee the right to be
retained in the service of any Employer or to interfere with the right of any Employer to discharge or to terminate the service of any Employee at any time without regard to the effect such discharge
or termination may have on any rights under the Plan. 

        16.2    Payments to Minors and Incompetents.    If any money or property shall become payable or distributable under
the Plan to a minor or a person under legal disability, such money or property, subject to any limitations imposed by the Plan, may be paid or delivered, either to such person or to the legal guardian
or conservator of such person, or to a member of the family of such person selected by the Committee, and the Trustee may accept the receipt of such minor or person under legal disability or of the
legal guardian or conservator or of such member of the family, as the case may be,
and the same shall constitute a complete acquittance and discharge of all liability of the Plan, the Committee, the Trustee and all Employers with respect to any money or property so paid or
delivered. 

        16.3    Spendthrift Fund.    No Participant or Beneficiary, under any circumstances, shall receive anything of present
or exchangeable or assignable value from the Plan, the Trustee or any Employer in anticipation of, or prior to, the actual distribution of his interest therein in accordance with the terms of the
Plan. The right of each Participant or Beneficiary shall be solely an equitable right to the distributions provided by the terms hereof. All interest, right and claim in or to the Plan and Trust shall
be nonassignable and nontransferable, and no Participant or Beneficiary shall have any right to anticipate, pledge, hypothecate or create any lien upon said interest. Such interest shall not be
subject to, or liable for, debts, liabilities, contracts, defaults or other obligations of, or claims against, any Participant or Beneficiary or be subject to any claim for alimony or for the support
of a spouse pursuant to a decree of separate maintenance or separation agreement against any Participant or Beneficiary, or to being taken or reached by any legal or equitable process in satisfaction
of any debt, liability or obligation prior to its receipt by him. This paragraph shall also apply to the creation, assignment or recognition of a right or interest in a Participant's benefit hereunder
pursuant to a domestic relations order, unless such order is determined to be a "qualified domestic relations order" (as such term is defined in Section 414(p) of the Code). Notwithstanding any
provision of the Plan to the contrary, the Plan shall honor a judgment, order, decree or settlement providing for the offset of all or a part of a Participant's benefit under the Plan, to the extent
permitted under Code Section 401(a)(13)(C); provided that the requirements of Code Section 401(a)(13)(C)(iii) relating to the protection of the Participant's spouse (if any) are
satisfied. The Committee shall establish procedures to determine the qualified status of domestic relations orders and to administer distributions under such qualified orders in accordance with Code
Section 414(p). 

        16.4    Conditional Establishment.    Anything in the foregoing to the contrary notwithstanding, this Plan and the
Trust shall become effective only on the express condition that: 

        (a)   they
will be considered by the Internal Revenue Service as qualifying and exempt under the provisions of Sections 401(a) and 501(a) of the Code, respectively; and 

        (b)   there
is an effective registration statement filed with the Securities and Exchange Commission relating to the securities offered under the Plan. 

        16.5    Information Supplied by Participants.    At any time or from time to time when required by the Committee, each
Participant shall file with the Committee, in writing, a designation of his post office address and each change thereof. Any such post office address so filed, or if no such address has been so filed,
then the last post office address for such Participant shown on the records of his 

37

 

Employer,
shall be binding upon the Participant and all other persons whomsoever for all purposes of the Plan, and the Committee shall not be obligated to determine the address of any Participant or
Beneficiary. Any notice to be sent to any Participant or other person may be mailed, postage prepaid, to him at the address so designated, and the mailing of such notice shall be sufficient and
conclusive evidence of actual notice that the Participant or other person has received such notice, whether or not he actually shall have received the same, and shall be conclusive notice to such
Participant or other person of the subject matter thereof as of the date of mailing. If the Committee shall notify any Participant or other person that he is entitled to a distribution and also shall
notify him of the provisions of this Section 16.5, and the Participant or other person fails to claim his benefits or to serve any notice upon
the Committee on or before the date three (3) years after such notice is given by the Committee, then the benefits payable to him shall be distributed to such persons as would then be entitled
to share in the distribution of the Participant's personal estate if he died on such date under the provisions of the statute then in force in the state or foreign jurisdiction outside the United
States of which he was a resident as last shown on the records of his Employer, governing the descent of intestate property in the proportions specified by such statute. 

        16.6    Interpretation and Construction.    The principles established by this  Section 16.6 shall control the interpretation of
the Plan. 

        (a)   The
validity and effect of the Plan and all rights and obligations of all parties hereunder, and all other persons affected hereby, shall be construed and determined in
accordance with the laws of the State of Ohio to the extent that such laws are not preempted by the laws of the United States of America. 

        (b)   Article
and Section titles and headings are used in the Plan for convenience of reference only, shall be given no legal effect, and in the event of conflict, the
context, rather than the titles and headings, shall control. 

        (c)   If
any provision of the Plan shall be held illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining part of the Plan or the Trust
created hereby, but the Plan shall be construed and enforced as if said illegal and invalid provisions had not been inserted herein. 

        16.7    Absence of Guaranty.    The benefits provided under the Plan shall be paid solely from the assets of the
Trust. Neither the Trustee nor any Employer shall or does guarantee any amount or amounts whatsoever as an Employer Contribution or Additional Employer Contribution in any year, but nothing
in this Section 16.7 is intended to relieve the Company or any Employer from its obligations to make contributions which it has become obligated
to make as provided in the Plan. Upon the transfer of any money or assets by the Company or any Employer to the Trustee, all responsibility of the Company or such Employer, as the case may be, with
respect thereto shall cease and the Company or such Employer, as the case may be, shall in no manner be responsible for the acts of the Trustee or for the administration of the Trust. No Employer
guarantees the payment of any amount which may become due to any person under the Plan. 

        16.8    Indemnification by the Company.    The Company hereby agrees to indemnify the members of the Committee for,
and to hold them harmless against, any and all liabilities, losses, costs or expenses (including legal fees and expenses) of whatsoever kind and nature which may be imposed, incurred by or asserted
against them at any time by reason of their service under the Plan if they did not act dishonestly or in willful or negligent violation of the Plan or of the law or regulation under which such
liability, loss, cost or expense arises. The Trust Agreement may also contain such provisions concerning the indemnification by the Company of the Trustee as the Board may consider appropriate. 

        16.9    Dividends.    Wherever the term "dividends" is used hereunder it shall be deemed to include only cash
dividends. Any stock dividends paid on Stock held in the Participant Contribution Accounts, 

38

 

After-Tax
Contributions Accounts, Rollover Contributions Accounts, Employer Contributions Accounts and Additional Employer Contribution Accounts maintained hereunder shall, for all
purposes of the Plan, be treated in the same manner as is provided with respect to the Stock on which such stock dividends are declared. 

        IN
WITNESS WHEREOF, the Company has caused this Plan to be executed by its duly authorized officers this 31st day of December, 2001, to be effective as of January 1, 2001. 

	 	 	ALLEN TELECOM INC.
	

 	
 	

By:	

/s/  ROBERT A. YOUDELMAN      

	

Attest:	
 	

 	

 
	

/s/  LAURA G. MEAGHER      
	
 	

 	

 

39

   AMENDMENT NO. 1

TO THE

ALLEN TELECOM INC.

EMPLOYEE BEFORE-TAX SAVINGS PLAN

(AS AMENDED AND RESTATED JANUARY 1, 2001)  

        Allen Telecom Inc. hereby adopts this Amendment No. 1 to the Allen Telecom Inc. Employee Before-Tax Savings Plan (As Amended and
Restated January 1, 2001) (the "Plan"), effective as of January 1, 2003. 

ARTICLE XVII  

        Section 3.1 of the Plan is hereby amended by the addition of a new subsection (h) thereto to read as follows: 

        "(h) Individuals
who became employees of the Company by reason of the transactions contemplated by the Asset Purchase Agreement by and among Allen Telecom Inc.,
Bartley R.F. Systems Trust, Bartley R.F. Systems Inc., Wenzel/Erlinger Associates, Inc. and Richard J. Bartley, Jr., Stephanie J. Bartley, and Lucy M. Bartley, the Controlling
Shareholders, dated as of November 19, 2001, and who were participants in the Forem US Employee Before-Tax Savings Plan on December 31, 2002 shall become Participants in this
Plan as of January 1, 2003." 

        EXECUTED
this 18th day of December, 2002. 

	 	 	ALLEN TELECOM INC.
	

 	
 	

By:	
 	

/s/  ROBERT A. YOUDELMAN      

	 	 	Title:	 	Executive Vice President and Chief Financial Officer

1

   AMENDMENT NO. 2

TO THE

ALLEN TELECOM INC.

EMPLOYEE BEFORE-TAX SAVINGS PLAN

(AS AMENDED AND RESTATED JANUARY 1, 2001)  

        THIS AMENDMENT is made this 18th day of December, 2002, by Allen Telecom Inc. (hereinafter referred to as the "Company"); 

W I T N E S S E T H:  

        WHEREAS, Allen Telecom Inc., a Delaware corporation (the "Company"), maintains the Allen Telecom Inc. Employee Before-Tax Savings Plan
(the "Plan"); 

        WHEREAS,
the Company has reserved the right, pursuant to Section 14.1 of the Plan, to further amend the Plan; and 

        WHEREAS,
this Amendment is adopted to reflect certain provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 ("EGTRRA"), is intended as a good faith compliance with
the requirements of EGTRRA, and is to be construed in accordance with EGTRRA and IRS guidance issued thereunder. 

        NOW,
THEREFORE, the Company does hereby amend the Plan as follows: 

ARTICLE XVIII  

        The second paragraph and final sentence of Section 2.10 of the Plan are hereby deleted, effective on and after January 1, 2002, and the following
substituted in lieu thereof: 

        "Compensation
of each Participant taken into account in determining allocations for any Plan Year beginning on or after January 1, 2002, shall not exceed $200,000, as adjusted for
cost-of-living increases in accordance with section 401(a)(17)(B) of the Code. The cost-of-living adjustment in effect for a calendar year shall
apply to Compensation for the determination period (the Plan Year) that begins with or within such calendar year." 

ARTICLE XIX  

        Section 4.1(a) of the Plan is hereby redesignated Section 4.1(a)(1) thereof and the following subsection (a)(2) is added thereto, effective
for Plan Years beginning on and after January 1, 2002: 

        "(a)(2)
An Employee who is eligible to make Participant Contributions pursuant to Section 4.1(a)(1) above and who has attained age 50 before the close of the Plan Year shall be
eligible to make catch-up contributions in accordance with, and subject to the limitations of, section 414(v) of the Code. Such catch-up contributions shall not
be taken into account for purposes of the provisions of the Plan implementing the required limitations of sections 402(g) and 415 of the Code. The Plan shall not be treated as failing to
satisfy the provisions of the Plan implementing the requirements of sections 401(a)(4), 401(k)(11), 403(b)(12), 408(k), 410(b) or 416 of the Code, as applicable, by reason of the making (or the
right to make) such catch-up contributions." 

1

 
ARTICLE XX  

        The first sentence of Section 4.1(c) is hereby amended, effective for Plan Years beginning on and after January 1, 2002, to provide as follows: 

        "Notwithstanding
the foregoing, a Participant's Participant Contributions, excluding catch-up contributions made pursuant to Section 4.1(a)(2) above, and
After-Tax Contributions may not, in the aggregate, exceed twenty-five percent (25%) of his Compensation." 

ARTICLE XXI  

        Section 4.1(d) of the Plan is hereby amended, effective for Plan Years beginning on and after January 1, 2002, to provide as follows: 

        "(d)
Subject to Subsection (c) of this Section, a Participant's Salary Reduction Election and/or election of After-Tax Contributions will be effective at the time
described in Section 3.1(b) and will be applicable to all subsequent payroll periods until suspended or amended by the Participant in accordance with the provisions of this Section. Subject to
Subsection (c) of this Section, the percentages of Compensation elected by a Participant as his rate of Participant Contributions pursuant to Section 4.1(a)(1) and/or
After-Tax Contributions pursuant to Section 4.1(b) will continue in effect notwithstanding any change in his Compensation until suspended or amended by the Participant in accordance
with the provisions of this Section." 

ARTICLE XXII  

        Section 4.2(a) of the Plan is hereby amended, effective for Plan Years beginning on and after January 1, 2002, to add the following sentence
thereto: 

        "Notwithstanding
the foregoing, no Percentage Match shall be made with respect to a Participant's catch-up contributions made pursuant to Section 4.1(a)(2)." 

ARTICLE XXIII  

        Section 4.2(e) of the Plan is hereby amended, effective for Plan Years beginning on and after January 1, 2002, to add the following sentence
thereto: 

        "Notwithstanding
the foregoing, however, no such discount on Stock shall be offered for Stock purchased with catch-up contributions made pursuant to
Section 4.1(a)(2)." 

ARTICLE XXIV  

        Section 4.3 of the Plan is hereby amended, effective for Plan Years beginning on and after January 1, 2002, to provide as follows: 

        "4.3
Rollover Contributions. The Plan will accept direct rollovers pursuant to Code Sections 401(a)(31) and 402(c) (but not
including after-tax employee contributions), from any trust held under another plan in which the Employee was a participant that meets the requirements of Code Sections 401(a) and
501(a), provided that such a direct rollover is made by a Participant or an Employee described in Section 3.1(d). The Plan will accept Rollover Contributions either entirely in cash or in a
combination of cash and such other property (other than cash) as is acceptable to the Committee." 

2

 
ARTICLE XXV  

        Section 5.2(a) of the Plan is hereby amended, effective for limitation years beginning after December 31, 2001, to provide as follows: 

        "(a)
Notwithstanding any other provision of the Plan and except to the extent permitted under Section 4.1(a)(2) and section 414(v) of the Code, the annual additions
(as defined in Subsection (b) of this Section) to a Participant's Account in any Plan Year (which shall be the limitation year) shall in no event exceed the lesser of (i) forty thousand
dollars ($40,000), as adjusted for increases in the cost-of-living under section 415(d) of the Code, or (ii) one hundred percent (100%) of his compensation for
such Plan Year." 

ARTICLE XXVI  

        Section 5.2(b)(v) of the Plan is hereby amended, effective for limitation years beginning after December 31, 2001, to add the following
provision thereto: 

        ";
provided, however, that the limitation set forth in Subsection (a)(ii) above shall not apply to any contribution for medical benefits after separation from service (within the
meaning of Section 401(h) or section 419A(f)(2) of the Code) which is otherwise treated as an annual addition." 

ARTICLE XXVII  

        The last sentence of Section 5.2(e) of the Plan is hereby deleted effective for limitation years beginning after December 31, 2001. 

ARTICLE XXVIII  

        Section 5.2C(a) of the Plan is hereby amended, effective for Plan Years beginning on and after January 1, 2002, to provide as follows: 

        "(a)
Notwithstanding the provisions of Article IV, a Participant's Participant Contributions for any taxable year of such
Participant shall not exceed the limitation in effect under Code Section 402(g) ($11,000 in calendar 2002) in effect at the beginning of such taxable year, except to the extent permitted under
Section 4.1(a)(2) and section 414(v) of the Code. Except as otherwise provided in this Section, a Participant's Participant Contributions for purposes of this Section shall
include (i) any employer contribution made under any qualified cash or deferred arrangement as defined in Code Section 401(k) to the extent not includable in gross income for the taxable
year under Code Section 402(a)(8) (determined without regard to Code Section 402(g)), (ii) any employer contribution to the extent not includable in gross income for the taxable
year under Code Section 402(h)(1)(B) (determined without regard to Code Section 402(g)), (iii) any employer contribution to purchase an annuity contract under Code
Section 403(b) under a salary reduction agreement within the meaning of Code Section 3121(a)(5)(D), and (iv) any elective employer contribution under Code
Section 408(p)(2)(A)(i)." 

ARTICLE XXIX  

        The first sentence of Section 5.3(b) of the Plan is hereby amended, effective for Plan Years beginning on and after January 1, 2002, to provide as
follows: 

        "For
the purposes of this Section, the actual deferral percentage for a specified group of Eligible Employees for a Plan Year shall be the average of the ratios (calculated separately
for each Eligible Employee in such group) of (i) the amount of Participant Contributions (excluding contributions made pursuant to Section 4.1(a)(2)) and Employer Contributions (which,
for 

3

 

purposes
of this Section are being treated by the Company as qualified matching contributions in accordance with Code Section 401(k)(3)(D) and Treasury Regulations issued thereunder) actually
paid to the Trust for each such Eligible Employee for such Plan Year (including any "excess deferrals" described in Section 5.2C(b)) to
(ii) the Eligible Employee's compensation for such Plan Year." 

ARTICLE XXX  

        The second sentence of Section 5.3(d) of the Plan is hereby amended, effective for Plan Years beginning on and after January 1, 2002, to provide as
follows: 

        "For
the purposes of this Subsection, the term "excess contributions" shall mean, for any Plan Year, the excess of (i) the aggregate amount of Participant Contributions (excluding
contributions made pursuant to Section 4.1(a)(2)) and Employer Contributions actually paid to the Trust on behalf of Highly Compensated Eligible Employees for such Plan Year over
(ii) the maximum amount of such Participant Contributions and Employer Contributions permitted for such Plan Year under Subsection (a) of this Section, determined by reducing Participant
Contributions and Employer Contributions made on behalf of Highly Compensated Eligible Employees beginning with the Highly Compensated Eligible Employee with the highest dollar amount of Participant
Contributions." 

ARTICLE XXXI  

        Section 12.2(b) of the Plan is hereby amended, effective for Plan Years beginning on and after January 1, 2002, to provide as follows: 

        "(b)
If a withdrawal on account of hardship is made to a Participant pursuant to this Section, the following rules shall apply notwithstanding any other provision of the Plan (or any
other plan maintained by an Affiliate) to the contrary: (i) the Participant's Participant Contributions and After-Tax Contributions (or any comparable contributions to any other
qualified or non-qualified plan (other than a welfare benefit plan) maintained by the Company and the Affiliates) shall be suspended for a period of 12 months (6 months for
distributions after December 31, 2001) following receipt of the hardship withdrawal, and (ii) the amount of the Participant's Participant Contributions (and any comparable contributions
to any other plan (other than a welfare plan) maintained by the Company and the Affiliates) for the Participant's taxable year immediately
following the taxable year of the hardship withdrawal shall not be in excess of the applicable limit under Code Section 402(g) for such next taxable year less the amount of such Participant's
Participant Contributions made to the Plan (and any other plan (other than a welfare plan) maintained by the Company and the Affiliates) for the taxable year of the hardship withdrawal." 

ARTICLE XXXII  

        Section 12.4(c) of the Plan is hereby amended, effective for distributions after December 31, 2001, to provide as follows: 

        "(c)
For purposes of this Section, the term "eligible rollover distribution" means any distribution of all or any portion of the balance to the credit of the distributee from the Plan,
except (1) any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the
joint lives (or joint life expectancies) of the distributee and the distributee's designated beneficiary, or for a specified period of ten years or more, (2) any distribution to the extent the
distribution is required under section 401(a)(9) of the Code, (3) any "hardship" distribution (as defined in Code Section 401(k)), and (4) such other amounts specified in
Treasury regulations or rulings issued under section 402(c) of the Code. For purposes of this Section, the term "eligible retirement plan" 

4

 

means
an individual retirement account or annuity described in section 408 of the Code, a defined contribution plan that meets the requirements of section 401(a) of the Code and accepts
rollovers, an annuity plan described in section 403(a) of the Code, an annuity contract described in section 403(b) of the Code, an eligible plan under section 457(b) of the Code
which is maintained by a state political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state which agrees to separately account for amounts
transferred into such plan from this plan, or any other type of plan that is included within the definition of "eligible retirement plan" under section 401(a)(31)(D) of the Code. The definition
of an eligible retirement plan shall also apply in the case of a distribution to a surviving spouse, or to a former spouse who is the alternate payee under a qualified domestic relations order, as
defined in section 414(p) of the Code." 

ARTICLE XXXIII  

        The date in Section 12.4(d) is hereby changed from "January 1, 2000" to "January 1, 2002," effective on and after January 1, 2002. 

ARTICLE XXXIV  

        Section 15.3(a) of the Plan is hereby amended, effective for Plan Years beginning on and after January 1, 2002, to provide as follows: 

        "(a)
The term "Key Employee" means an Employee who at any time during the Plan Year was 

	(i)
	an
officer of the Company or an Affiliate having an annual compensation greater than $130,000 (as adjusted under section 416(i)(1) of the Code for Plan Years
beginning after December 31, 2002); provided, however, that no more than the lesser of (A) fifty (50) Employees or (B) the greater of three (3) Employees or ten
percent (10%) of all Employees are to be treated as officers;

	(ii)
	a
five percent owner (as defined in Code Section 416(i)(1)(B)) of the Company or an Affiliate; or

	(iii)
	a
one percent (1%) owner (as defined in Code Section 416(i)(1)(B)) of the Company or an Affiliate having an annual compensation of more than one Hundred Fifty
Thousand Dollars ($150,000) from the Company and an Affiliate. 

For
purposes of this Article, the terms "Employee' and "Key Employee' shall include the Beneficiaries of such Employees in the event of death. For purposes of this Subsection, the term "compensation'
has the meaning given such term by Code Section 415(c)(3). The determination of who is a Key Employee will be made in accordance with section 416(i)(1) of the Code and the applicable
regulations and other guidance of general applicability issued thereunder." 

ARTICLE XXXV  

        Section 15.4(c) of the Plan is hereby amended, effective for Plan Years beginning on and after January 1, 2002, to provide as follows: 

        "(c)
All amounts distributed to a Participant within the one (1)-year period ending on the Determination Date shall be taken into account, including any amount distributed
from a terminated plan that would have been required to be included in the Aggregation Group had it not been terminated; provided, however, that in the case of a distribution made for a reason other 

5

 

than
separation from service, death, or disability, this provisions shall be applied by substituting "five (5)-year period" for "one (1)-year period" above;" 

ARTICLE XXXVI  

        Section 15.4(f) of the Plan is hereby amended, effective for Plan Years beginning on and after January 1, 2002, to provide as follows: 

        "(f)
The accrued benefits and accounts of persons who have not performed services for any Participating Employer maintaining the Plan during the one (1)-year period ending on
the Determination Date shall be disregarded." 

ARTICLE XXXVII  

        Section 15.6 of the Plan is hereby amended, effective for Plan Years beginning on and after January 1, 2002, to add the following sentence thereto: 

        "Employer
matching contributions shall be taken into account for purposes of satisfying the minimum contribution requirement of section 416(c)(2) of the Code and the Plan." 

6

 

        IN
WITNESS WHEREOF, the Company has caused this Amendment No. 2 to be executed as of the date first set forth above. 

	 	 	ALLEN TELECOM INC.
	

 	
 	

By:	
 	

/s/  ROBERT A. YOUDELMAN      

	 	 	Its:	 	Executive Vice President and Chief Financial Officer

7

   AMENDMENT NO. 3

TO THE

ALLEN TELECOM INC.

EMPLOYEE BEFORE-TAX SAVINGS PLAN

(AS AMENDED AND RESTATED JANUARY 1, 2001)  

        THIS
AMENDMENT is made this 5th day of June, 2003, by Allen Telecom Inc. (hereinafter referred to as the "Company"); 

W I T N E S S E T H:  

        WHEREAS, Allen Telecom Inc., a Delaware corporation (the "Company"), maintains the Allen Telecom Inc. Employee Before-Tax Savings Plan
(the "Plan"); and 

        WHEREAS,
the Company has reserved the right, pursuant to Section 14.1 of the Plan, to further amend the Plan. 

        NOW,
THEREFORE, the Company does hereby amend the Plan as follows: 

ARTICLE XXXVIII  

        Effective as of June 1, 2003, the third sentence of Section 7.4 of the Plan is hereby amended by substituting the phrase "at least two
(2) days" for the phrase "at least ten (10) days" where it appears therein. 

        IN
WITNESS WHEREOF, the Company has caused this Amendment No. 3 to be executed as of the date first set forth above. 

	 	 	ALLEN TELECOM INC.
	

 	
 	

By:	
 	

/s/  ROBERT A. YOUDELMAN      

	 	 	Its:	 	Executive Vice President and Chief Financial Officer

1

   AMENDMENT NO. 4

TO THE

ALLEN TELECOM INC.

EMPLOYEE BEFORE-TAX SAVINGS PLAN

(AS AMENDED AND RESTATED JANUARY 1, 2001)  

        THIS AMENDMENT is made this sixth day of June, 2003, by Allen Telecom Inc. (hereinafter referred to as the "Company"); 

W I T N E S S E T H:  

        WHEREAS, Allen Telecom Inc., a Delaware corporation (the "Company"), maintains the Allen Telecom Inc. Employee Before-Tax Savings Plan
(the "Plan"); and 

        WHEREAS,
the Company has reserved the right, pursuant to Section 14.1 of the Plan, to further amend the Plan. 

        NOW,
THEREFORE, the Company does hereby amend the Plan as follows: 

ARTICLE XXXIX  

        Effective during the period from January 1, 1995 until January 1, 2002, Section 5.2(a) of the Plan is hereby amended in its entirety to read
as follows: 

        "(a)
Notwithstanding any other provision of the Plan, the annual additions (as defined in Subsection (b) of this Section) to a Participant's Account in any Plan Year (which shall
be the limitation year) shall in no event exceed the lesser of thirty thousand dollars ($30,000) (as adjusted under Code Section 415(d)), or twenty-five percent (25%) of his
compensation for such Plan Year." 

ARTICLE XL  

        Effective as of January 1, 1997, Section 5.3(d) of the Plan is hereby amended in its entirety to read as follows: 

        "(d)
In the event that excess contributions (as such term is hereinafter defined) are made to the Trust for any Plan Year, then, prior to March 15 of the following Plan Year, such
excess contributions (and any income allocable thereto) shall be distributed to the Highly Compensated Eligible Employees on the basis of the respective portions of the excess contributions
attributable to each such Eligible Employee in order of dollar amount of Participant Contributions and Employer Contributions beginning with the Highly Compensated Eligible Employee with the highest
dollar amount of Participant Contributions and Employer Contributions. Effective as of January 1, 1997, for the purposes of this Subsection, the term "excess contributions" shall mean, for any
Plan Year, the excess of (i) the aggregate amount of Participant Contributions and Employer Contributions actually paid to the Trust on behalf of Highly Compensated Eligible Employees for such
Plan Year over (ii) the maximum amount of such Participant Contributions and Employer Contributions permitted for such Plan Year under Subsection (a) of this Section, determined by
hypothetically reducing Participant Contributions and Employer Contributions made on behalf of Highly Compensated Eligible Employees in order of their actual deferral percentages, beginning with the
highest of such percentage. Notwithstanding the foregoing provisions of this Subsection, (a) the amount of a Participant's excess contributions to be distributed shall be reduced by any excess
deferrals previously distributed to the Participant for the Participant's taxable year ending with or within the Plan Year in accordance with Code Section 402(g), and (b) the amount of
excess deferrals that may be distributed with respect to a Participant for a taxable year is reduced by any excess contributions previously distributed with respect to the Participant for the Plan
Year beginning with or within the taxable year." 

1

 

ARTICLE XLI  

        Effective as of January 1, 2000, Section 15.9 of the Plan is hereby amended by inserting the following before the first sentence thereof: 

        "The
provisions of this Section shall be effective prior to January 1, 2000." 

        IN
WITNESS WHEREOF, the Company has caused this Amendment No. 4 to be executed as of the date first set forth above. 

	 	 	ALLEN TELECOM INC.
	

 	
 	

By:	
 	

/s/  ROBERT A. YOUDELMAN      

	 	 	Its:	 	Executive Vice President and Chief Financial Officer

2

QuickLinks

THE ALLEN TELECOM INC. EMPLOYEE BEFORE-TAX SAVINGS PLAN (Amended and Restated January 1, 2001)

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