Document:

Exhibit
10.41

UFP Technologies, Inc.

THE
EXECUTIVE NONQUALIFIED EXCESS PLANSM

PLAN
DOCUMENT

 

TABLE OF
CONTENTS

THE EXECUTIVE NONQUALIFIED EXCESS PLANSM

	
  

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 1.

  	
   

  	
  Purpose:

  	
   

  	
  1

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 2.

  	
   

  	
  Definitions:

  	
   

  	
  1

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.1

  	
   

  	
  “Active Participant”

  	
   

  	
  1

  
	
  2.2

  	
   

  	
  “Adoption Agreement”

  	
   

  	
  2

  
	
  2.3

  	
   

  	
  “Beneficiary”

  	
   

  	
  2

  
	
  2.4

  	
   

  	
  “Board”  

  	
   

  	
  2

  
	
  2.5

  	
   

  	
  “Change in Control”

  	
   

  	
  2

  
	
  2.6

  	
   

  	
  “Committee”  

  	
   

  	
  3

  
	
  2.7

  	
   

  	
  “Compensation”

  	
   

  	
  3

  
	
  2.8

  	
   

  	
  “Crediting Date”

  	
   

  	
  4

  
	
  2.9

  	
   

  	
  “Deferred Compensation Account”

  	
   

  	
  4

  
	
  2.10

  	
   

  	
  “Disabled”

  	
   

  	
  4

  
	
  2.11

  	
   

  	
  “Education Account”

  	
   

  	
  4

  
	
  2.12

  	
   

  	
  “Effective Date”

  	
   

  	
  4

  
	
  2.13

  	
   

  	
  “Employee”

  	
   

  	
  5

  
	
  2.14

  	
   

  	
  “Employer”

  	
   

  	
  5

  
	
  2.15

  	
   

  	
  “Employer Credits”

  	
   

  	
  5

  
	
  2.16

  	
   

  	
  “Independent Contractor”

  	
   

  	
  5

  
	
  2.17

  	
   

  	
  “In-Service Account”

  	
   

  	
  5

  
	
  2.18

  	
   

  	
  “Normal Retirement Age”

  	
   

  	
  6

  
	
  2.19

  	
   

  	
  “Participant”

  	
   

  	
  6

  
	
  2.20

  	
   

  	
  “Participant Deferral Agreement”

  	
   

  	
  6

  
	
  2.21

  	
   

  	
  “Participant Deferral Credits”

  	
   

  	
  6

  
	
  2.22

  	
   

  	
  “Participating Employer”

  	
   

  	
  6

  
	
  2.23

  	
   

  	
  “Performance-Based Compensation”

  	
   

  	
  6

  
	
  2.24

  	
   

  	
  “Plan”

  	
   

  	
  7

  
	
  2.25

  	
   

  	
  “Plan Administrator”

  	
   

  	
  7

  
	
  2.26

  	
   

  	
  “Plan-Approved Domestic Relations Order”

  	
   

  	
  7

  
	
  2.27

  	
   

  	
  “Plan Year”

  	
   

  	
  9

  
	
  2.28

  	
   

  	
  “Qualifying Distribution Event”

  	
   

  	
  9

  
	
  2.29

  	
   

  	
  “Retirement Account”

  	
   

  	
  9

  
	
  2.30

  	
   

  	
  “Service”

  	
   

  	
  9

  
	
  2.31

  	
   

  	
  “Service Bonus”

  	
   

  	
  9

  
	
  2.32

  	
   

  	
  “Specified Employee”

  	
   

  	
  10

  
	
  2.33

  	
   

  	
  “Spouse” or “Surviving Spouse”

  	
   

  	
  10

  
	
  2.34

  	
   

  	
  “Student”

  	
   

  	
  10

  
	
  2.35

  	
   

  	
  “Trust”

  	
   

  	
  10

  
	
  2.36

  	
   

  	
  “Trustee”

  	
   

  	
  10

  
	
  2.37

  	
   

  	
  “Unforeseeable Emergency”

  	
   

  	
  10

  
	
  2.38

  	
   

  	
  “Years of Service”

  	
   

  	
  11

  

 

 

 

	
  Section 3.

  	
   

  	
  Participation:

  	
   

  	
  11

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 4.

  	
   

  	
  Credits to Deferred
  Compensation Account:

  	
   

  	
  11

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.1

  	
   

  	
  Participant Deferral Credits 

  	
   

  	
  11

  
	
  4.2

  	
   

  	
  Employer Credits 

  	
   

  	
  13

  
	
  4.3

  	
   

  	
  Deferred Compensation Account 

  	
   

  	
  13

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 5.

  	
   

  	
  Qualifying Distribution
  Events:

  	
   

  	
  14

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.1

  	
   

  	
  Separation from Service 

  	
   

  	
  14

  
	
  5.2

  	
   

  	
  Disability 

  	
   

  	
  14

  
	
  5.3

  	
   

  	
  Death 

  	
   

  	
  14

  
	
  5.4

  	
   

  	
  In-Service Distributions 

  	
   

  	
  14

  
	
  5.5

  	
   

  	
  Education Distributions 

  	
   

  	
  15

  
	
  5.6

  	
   

  	
  Change in Control 

  	
   

  	
  16

  
	
  5.7

  	
   

  	
  Unforeseeable Emergency 

  	
   

  	
  16

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 6.

  	
   

  	
  Qualifying Distribution
  Events Payment Options:

  	
   

  	
  17

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.1

  	
   

  	
  Payment Options 

  	
   

  	
  17

  
	
  6.2

  	
   

  	
  De Minimis Amounts 

  	
   

  	
  18

  
	
  6.3

  	
   

  	
  Subsequent Elections 

  	
   

  	
  19

  
	
  6.4

  	
   

  	
  Acceleration Prohibited 

  	
   

  	
  19

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 7.

  	
   

  	
  Vesting:

  	
   

  	
  20

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 8.

  	
   

  	
  Accounts; Deemed
  Investment; Adjustments to Account:

  	
   

  	
  20

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  8.1

  	
   

  	
  Accounts 

  	
   

  	
  20

  
	
  8.2

  	
   

  	
  Deemed Investments 

  	
   

  	
  20

  
	
  8.3

  	
   

  	
  Adjustments to Deferred Compensation Account 

  	
   

  	
  21

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 9.

  	
   

  	
  Administration by
  Committee:

  	
   

  	
  21

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  9.1

  	
   

  	
  Membership of Committee 

  	
   

  	
  21

  
	
  9.2

  	
   

  	
  Committee Officers; Subcommittee 

  	
   

  	
  21

  
	
  9.3

  	
   

  	
  Committee Meetings 

  	
   

  	
  22

  
	
  9.4

  	
   

  	
  Transaction of Business 

  	
   

  	
  22

  
	
  9.5

  	
   

  	
  Committee Records 

  	
   

  	
  22

  
	
  9.6

  	
   

  	
  Establishment of Rules 

  	
   

  	
  22

  
	
  9.7

  	
   

  	
  Conflicts of Interest 

  	
   

  	
  22

  
	
  9.8

  	
   

  	
  Correction of Errors 

  	
   

  	
  23

  
	
  9.9

  	
   

  	
  Authority to Interpret Plan 

  	
   

  	
  23

  
	
  9.10

  	
   

  	
  Third Party Advisors 

  	
   

  	
  23

  
	
  9.11

  	
   

  	
  Compensation of Members 

  	
   

  	
  23

  
	
  9.12

  	
   

  	
  Expense Reimbursement 

  	
   

  	
  24

  
	
  9.13

  	
   

  	
  Indemnification 

  	
   

  	
  24

  

 

 ii
 

 

 

	
  Section 10.

  	
   

  	
  Contractual Liability;
  Trust:

  	
   

  	
  24

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  10.1

  	
   

  	
  Contractual Liability 

  	
   

  	
  24

  
	
  10.2

  	
   

  	
  Trust 

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 11.

  	
   

  	
  Allocation of
  Responsibilities:

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  11.1

  	
   

  	
  Board 

  	
   

  	
  25

  
	
  11.2

  	
   

  	
  Committee 

  	
   

  	
  25

  
	
  11.3

  	
   

  	
  Plan Administrator 

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 12.

  	
   

  	
  Benefits Not
  Assignable; Facility of Payments:

  	
   

  	
  26

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  12.1

  	
   

  	
  Benefits Not Assignable 

  	
   

  	
  26

  
	
  12.2

  	
   

  	
  Plan-Approved Domestic Relations Orders 

  	
   

  	
  26

  
	
  12.3

  	
   

  	
  Payments to Minors and Others 

  	
   

  	
  27

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 13.

  	
   

  	
  Beneficiary:

  	
   

  	
  27

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 14.

  	
   

  	
  Amendment and
  Termination of Plan:

  	
   

  	
  28

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  14.1

  	
   

  	
  Termination in the Discretion of the Employer 

  	
   

  	
  28

  
	
  14.2

  	
   

  	
  Termination Upon Change in Control 

  	
   

  	
  29

  
	
  14.3

  	
   

  	
  Termination On or Before December 31, 2005 

  	
   

  	
  29

  
	
  14.4

  	
   

  	
  No Financial Triggers 

  	
   

  	
  29

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 15.

  	
   

  	
  Communication to
  Participants:

  	
   

  	
  29

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 16.

  	
   

  	
  Claims Procedure:

  	
   

  	
  29

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  16.1

  	
   

  	
  Filing of a Claim for Benefits 

  	
   

  	
  29

  
	
  16.2

  	
   

  	
  Notification to Claimant of Decision 

  	
   

  	
  30

  
	
  16.3

  	
   

  	
  Procedure for Review 

  	
   

  	
  30

  
	
  16.4

  	
   

  	
  Decision on Review 

  	
   

  	
  31

  
	
  16.5

  	
   

  	
  Action by Authorized Representative of Claimant 

  	
   

  	
  31

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 17.

  	
   

  	
  Miscellaneous
  Provisions:

  	
   

  	
  31

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  17.1

  	
   

  	
  Set off 

  	
   

  	
  31

  
	
  17.2

  	
   

  	
  Notices 

  	
   

  	
  31

  
	
  17.3

  	
   

  	
  Lost Distributees 

  	
   

  	
  32

  
	
  17.4

  	
   

  	
  Reliance on Data 

  	
   

  	
  32

  
	
  17.5

  	
   

  	
  Receipt and Release for Payments 

  	
   

  	
  32

  
	
  17.6

  	
   

  	
  Headings 

  	
   

  	
  33

  
	
  17.7

  	
   

  	
  Continuation of Employment 

  	
   

  	
  33

  
	
  17.8

  	
   

  	
  Merger or Consolidation; Assumption of Plan 

  	
   

  	
  33

  
	
  17.9

  	
   

  	
  Construction 

  	
   

  	
  33

  

 

 iii

 

THE EXECUTIVE NONQUALIFIED EXCESS
PLANSM

Section
1.              Purpose:

By execution of
the Adoption Agreement, the Employer has adopted the Plan set forth herein to
provide a means by which certain management Employees or Independent
Contractors of the Employer may elect to defer receipt of current Compensation
from the Employer in order to provide retirement and other benefits on behalf
of such Employees or Independent Contractors of the Employer, as selected in
the Adoption Agreement.  The Plan is
intended to be a nonqualified deferred compensation plan that complies with the
provisions of  Section 409A of the
Internal Revenue Code (the “Code”).  The
Plan is intended to be an unfunded plan maintained primarily for the purpose of
providing deferred compensation benefits for a select group of management or
highly compensated employees under Sections 201(2), 301(a)(3) and
401(a)(1) of the Employee Retirement Income Security Act of 1974 and
independent contractors.

Section
2.              Definitions:

As used in the
Plan, including this Section 2, references to one gender shall include the
other and, unless otherwise indicated by the context:

2.1          “Active Participant” means, with respect to any day or date,
a Participant who is in Service on such day or date; provided, that a Participant
shall cease to be an Active Participant immediately upon a determination by the
Committee that the Participant has ceased to be an Employee or Independent
Contractor, or that the Participant no longer meets the eligibility
requirements of the Plan.

 

2.2          “Adoption Agreement” means the written agreement pursuant to
which the Employer adopts the Plan.  The
Adoption Agreement is a part of the Plan as applied to the Employer.

2.3          “Beneficiary” means the person, persons, entity or entities
designated or determined pursuant to the provisions of Section 13 of the
Plan.

2.4          “Board” means the Board of Directors of the Employer, if the
Employer is a corporation.  If the
Employer is not a corporation, “Board” shall mean the Employer.

2.5          “Change
in Control” of
a corporation (or, to the extent permitted in this Section 2.5, a partnership
or other entity) shall occur on the earliest of the following events:

2.5.1        Change in Ownership:  A change in ownership of a corporation occurs
on the date that any one person, or more than one person acting as a group,
acquires ownership of stock of the corporation that, together with stock held
by such person or group, constitutes more than 50% of the total fair market
value or total voting power of the stock of the corporation, excluding the
acquisition of additional stock by a person or more than one person acting as a
group who is considered to own more than 50% of the total fair market value or
total voting power of the stock of the corporation.

2.5.2        Change in Effective Control:  A change in effective control of a
corporation occurs on the date that either:

(i)            Any one person, or more than one
person acting as a group, acquires (or has acquired during the 12-month period
ending on the date of the most recent acquisition by such person or persons)
ownership of stock of the corporation possessing 35% or more of the total
voting power of the stock of the corporation; or

(ii)           A majority of the members of the
board of directors of the corporation is replaced during any 12-month period by
directors whose appointment or election is not endorsed by a majority of the
members of the board of directors prior to the date of the appointment or
election; provided, that this paragraph (ii) shall apply only to a corporation
for which no other corporation is a majority shareholder.

2.5.3        Change in Ownership of Substantial
Assets:  A change in the ownership of a
substantial portion of a corporation’s assets occurs on the date that any one
person, or more than one person acting as a group, acquires (or has acquired
during the 12-month period ending on the date of the most recent

 2
 

 

acquisition by such person or persons) assets
from the corporation that have a total gross fair market value equal to or more
than 40% of the total gross fair market value of the assets of the corporation
immediately prior to such acquisition or acquisitions.  For this purpose, gross fair market value
means the value of the assets of the corporation, or the value of the assets
being disposed of, determined without regard to any liabilities associated with
such assets.

For
this purpose, the Change in Control must relate to (i) a corporation that is
the Employer of the Participant; (ii) a corporation that is liable for the
payment of benefits under this Plan; (iii) a corporation that is a majority
shareholder of the corporation described in (i) or (ii); or (iv) any
corporation in a chain of corporations in which each corporation is a majority
shareholder of another corporation in the chain, ending with the corporation
described in (i) or (ii).  To the extent
provided in regulations and administrative guidance promulgated under Section
409A of the Code, the provisions of this Section 2.5 may be applied to changes
in the ownership of a partnership and changes in the ownership of a substantial
portion of the assets of a partnership. 
A Change in Control shall not be deemed to have occurred until a
majority of the members of the Board receive written certification from the
Committee that one of the events set forth in this Section 2.5 has occurred.  The occurrence of an event described in this
Section 2.5 must be objectively determinable by the Committee and, if made in
good faith on the basis of information available at the time, such
determination shall be conclusive and binding on the Committee, the Employer,
the Participants and their Beneficiaries for all purposes of the Plan.

2.6          “Committee” means the person designated in the Adoption
Agreement.  If the Committee designated
in the Adoption Agreement is unable to serve, the Employer shall satisfy the
duties of the Committee provided for in Section 9.

2.7          “Compensation” shall have the meaning designated in the
Adoption Agreement.

 3
 

 

2.8          “Crediting Date” means the date designated in the Adoption
Agreement for crediting the amount of any Participant Deferral Credits to the
Deferred Compensation Account of a Participant. 
Employer Credits may be credited to the Deferred Compensation Account of
a Participant on any day that securities are traded on a national securities
exchange.

2.9          “Deferred Compensation Account” means the account maintained
with respect to each Participant under the Plan.  The Deferred Compensation Account shall be
credited with Participant Deferral Credits and Employer Credits, credited or
debited for deemed investment gains or losses, and adjusted for payments in
accordance with the rules and elections in effect under Section 8.  The Deferred Compensation Account of a
Participant shall include any In-Service Account or Education Account of the
Participant, if applicable.

2.10        “Disabled” means a Participant who is unable to engage in
any substantial gainful activity by reason of any medically determinable
physical or mental impairment which can be expected to result in death or can
be expected to last for a continuous period of not less than 12 months, or is,
by reason of any medically determinable physical or mental impairment which can
be expected to result in death or can be expected to last for a continuous
period of not less than 12 months, receiving income replacement benefits for a
period of not less than three months under an accident and health plan covering
Employees of the Employer.

2.11        “Education Account” means a separate account to be kept for
each Participant that has elected to take education distributions as described
in Section 5.5.  The Education
Account shall be adjusted in the same manner and at the same time as the
Deferred Compensation Account under Section 8 and in accordance with the rules
and elections in effect under Section 8.

2.12        “Effective Date” shall be the date designated in the
Adoption Agreement as of which the Plan first becomes effective.  Notwithstanding the foregoing, any amounts

 4
 

 

credited to
the account of a Participant pursuant to the terms of a predecessor plan of the
Employer which are not earned and vested before January 1, 2005, shall be
subject to the terms of this Plan.

2.13        “Employee” means an individual in the Service of the
Employer if the relationship between the individual and the Employer is the
legal relationship of employer and employee and if the individual is a highly
compensated or management employee of the Employer.  An individual shall cease to be an Employee
upon the Employee’s termination of Service.

2.14        “Employer” means the Employer identified in the Adoption
Agreement, and any Participating Employer which adopts this Plan.  The Employer may be a corporation, a limited
liability company, a partnership or sole proprietorship.  All references herein to the Employer shall
include each trade or business (whether or not incorporated) that is required
to be aggregated with the Employer under rules similar to subsections (b) and
(c) of Section 414 of the Code.

2.15        “Employer
Credits”
means the amounts credited to the Participant’s Deferred Compensation
Account by the Employer pursuant to the provisions of Section 4.2.

2.16        “Independent Contractor” means an individual in the Service
of the Employer if the relationship between the individual and the Employer is
not the legal relationship of employer and employee.  An individual shall cease to be an
Independent Contractor upon the termination of the Independent Contractor’s
Service.  An Independent Contractor shall
include a director of the Employer who is not an Employee.

2.17        “In-Service
Account”
means a separate account to be kept for each Participant that has
elected to take in-service distributions as described in Section 5.4.  The In-Service Account shall be adjusted in
the same manner and at the same time as the Deferred

 5
 

 

Compensation
Account under Section 8 and in accordance with the rules and elections in
effect under Section 8.

2.18        “Normal
Retirement Age” of a Participant means the age designated in the Adoption Agreement.

2.19        “Participant” means with respect to any Plan Year an
Employee or Independent Contractor who has been designated by the Committee as
a Participant and who has entered the Plan or who has  a Deferred Compensation Account under the
Plan.

2.20        “Participant Deferral Agreement” means a written agreement
entered into between a Participant and the Employer pursuant to the provisions
of Section 4.1

2.21        “Participant Deferral Credits” means the amounts credited to
the Participant’s Deferred Compensation Account by the Employer pursuant to the
provisions of Section 4.1.

2.22        “Participating Employer” means any trade or business
(whether or not incorporated) which adopts this Plan with the consent of the
Employer identified in the Adoption Agreement.

2.23        “Performance-Based
Compensation”
means compensation where the amount of, or entitlement to, the
compensation is contingent on the satisfaction of preestablished  organizational or individual performance
criteria relating to a performance period of at least twelve months in which
the service provider performs services. 
Organizational or individual performance criteria are considered
preestablished if established in writing at least 90 days after the
commencement of the period of service to which the criteria relates, provided
that the outcome is substantially uncertain at the time the criteria are
established.  Performance-based
compensation may include payments based upon subjective performance criteria in
accordance

 6
 

 

as provided in
regulations and administrative guidance promulgated under Section 409A of the
Code.

2.24        “Plan” means The Executive Nonqualified Excess Plan, as
herein set out or as duly amended.  The
name of the Plan as applied to the Employer shall be designated in the Adoption
Agreement.

2.25        “Plan Administrator” means the person designated in the
Adoption Agreement.  If the Plan
Administrator designated in the Adoption Agreement is unable to serve, the
Employer shall be the Plan Administrator.

2.26        “Plan-Approved Domestic Relations Order” shall mean a court
order that is lawfully directed to this Plan and that is served upon the Plan
Administrator before the Participant receives a distribution of his benefit
that pursuant to a state domestic relations law creates or recognizes the
existence of the right of an alternate payee to receive all or a portion of a
Participant’s benefit and that meets all of the following requirements.  An order shall not be a Plan-Approved
Domestic Relations Order unless the Plan Administrator determines that the
court order on its face and without reference to any other document states all
of the following:

(a)           The
court order expressly states that it relates to the provision of child support,
alimony, or marital property rights to a spouse, former spouse, or child of a
Participant and is made pursuant to State domestic relations law.

(b)           The
court order clearly and unambiguously specifies that it refers to this Plan.

(c)           The
court order clearly and unambiguously specifies the name of the Participant’s
Employer.

(d)           The
court order clearly specifies:  the name, mailing address, and social
security number of the Participant; and the name, mailing address, and social
security number of each alternate payee.

(e)           The
court order clearly specifies the amount or percentage, or the manner in which
the amount or percentage is to be determined, of the Participant’s benefit to
be paid to or segregated for the separate account of the alternate payee.

 7
 

 

(f)            The
court order expressly states that the alternate payee’s segregated account
shall bear all fees and expenses as though the alternate payee were a
Participant.

(g)           The
court order clearly specifies that any distribution to the alternate payee
becomes payable only after a Qualifying Distribution Event of the Participant
and only upon the alternate payee’s written claim made to the Administrator.

(h)           The
court order clearly specifies that any distribution to any alternate payee
shall be payable only as a lump sum.

(i)            The
court order expressly states that it does not require this Plan to provide any
type or form of benefit or any option not otherwise provided under this Plan.

(j)            The
court order expressly states that the order does not require this Plan to
provide increased benefits.

(k)           The
court order expressly states that any provision of it that would have the
effect of requiring any distribution to an alternate payee of deferred
compensation that is required to be paid to another person under any court
order is void.

(l)            The
court order expressly states that nothing in the order shall have any effect
concerning any party’s tax treatment, and that nothing in the order shall
direct any person’s tax reporting or withholding.

An
order shall not be a Plan-approved Domestic Relations Order if it includes any
provision that does not relate to this Plan. 
Without limiting the comprehensive effect of the preceding sentence, an
order shall not be a Plan-Approved Domestic Relations Order if the order
includes any provision relating to any pension plan, retirement plan, deferred
compensation plan, health plan, welfare benefit plan, or employee benefit plan
other than this Plan.  An order shall not
be a Plan-Approved Domestic Relations Order unless the order provides for only
one alternate payee.  An order shall not
be a Plan-Approved Domestic Relations Order if the order includes any provision
that would permit the alternate payee to designate any beneficiary for any
purpose. However, an order does not fail to qualify as a Plan-approved Domestic
Relations Order because it provides that any rights not paid before the
alternate payee’s death shall be payable to the duly appointed and
then-currently serving personal representative of the alternate payee’s
estate.  The Plan Administrator may
assume that the alternate payee named by the court order is a proper

 8
 

 

payee
and need not inquire into whether the person named is a spouse or former spouse
or child of the Participant.

2.27        “Plan Year” means the twelve-month period ending on the last
day of the month designated in the Adoption Agreement; provided, that the
initial Plan Year may have fewer than twelve months.

2.28        “Qualifying
Distribution Event” means (i) the separation from Service of the Participant, (ii)
the date the Participant becomes Disabled, (iii) the death of the Participant,
(iv) the time specified by the Participant for an in-service or education
distribution, (v) a Change in Control, or (vi) an Unforeseeable Emergency, each
to the extent provided in Section 5.

2.29        “Retirement Account” means the portion of the Deferred
Compensation Account of a Participant, excluding any In-Service Account or any
Education Account.  The Retirement
Account shall be adjusted in the same manner and at the same time as the
Deferred Compensation Account under Section 8 and in accordance with the rules
and regulations in effect under Section 8.

2.30        “Service” means employment by the Employer as an
Employee.  For purposes of the Plan, the
employment relationship is treated as continuing intact while the Employee is
on military leave, sick leave, or other bona fide leave of absence if the
period of such leave does not exceed six months, or if longer, so long as the
Employee’s right to reemployment is provided either by statue or contract.  If the Participant is an Independent
Contractor, “Service” shall mean the period during which the contractual
relationship exists between the Employer and the Participant.  The contractual relationship is not
terminated if the Participant anticipates a renewal of the contract or becomes
an Employee.

2.31        “Service Bonus” means any bonus paid to a Participant by the
Employer which is not Performance-Based Compensation.

 9
 

 

2.32        “Specified Employee” means an employee who meets the
requirements of Section 416(i)(1)(A)(i), (ii) or (iii) of the Code (applied in
accordance with the regulations thereunder and without regard to Section
416(i)(5) of the Code) at any time during the twelve-month period ending on
December 31 of each year (the “identification date”).  If the person is a key employee as of any
identification date, the person is treated as a Specified Employee for the
twelve-month period beginning on the first day of the fourth month following the
identification date.

2.33        “Spouse” or “Surviving Spouse”
means, except as otherwise provided in the Plan, a person who is the legally
married spouse or surviving spouse of a Participant.

2.34        “Student” means the individual designated by
the Participant in the Participant Deferral Agreement with respect to whom the
Participant will create an Education Account.

2.35        “Trust” means the trust fund established pursuant to Section
10.2, if designated by the Employer in the Adoption Agreement.

2.36        “Trustee” means the trustee, if any, named in the agreement
establishing the Trust and such successor or additional trustee as may be named
pursuant to the terms of the agreement establishing the Trust.

2.37        “Unforeseeable
Emergency”
means a severe financial hardship to the Participant resulting from a
sudden or unexpected illness or accident of the Participant, the Participant’s
Spouse or dependent (as defined in Section 152(a) of the Code), loss of the
Participant’s property due to casualty, or other similar extraordinary and
unforeseeable circumstances arising as a result of events beyond the control of
the Participant.

 10
 

 

2.38        “Years of Service” means each Plan Year of Service completed
by the Participant.  For vesting
purposes, Years of Service shall be calculated from the date designated in the
Adoption Agreement.

Section 3.              Participation:

The Committee in
its discretion shall designate each Employee or Independent Contractor who is
eligible to participate in the Plan.  An
Employee or Independent Contractor designated by the Committee as a Participant
who has not otherwise entered the Plan shall enter the Plan and become a
Participant as of the date determined by the Committee.  A Participant who separates from Service with
the Employer and who later returns to Service will not be an Active Participant
under the Plan except upon satisfaction of such terms and conditions as the
Committee shall establish upon the Participant’s return to Service, whether or
not the Participant shall have a balance remaining in the Deferred Compensation
Account under the Plan on the date of the return to Service.

Section 4.              Credits to Deferred
Compensation Account:

4.1          Participant Deferral Credits.  To the extent
provided in the Adoption Agreement, each Active Participant may elect, by entering
into a Participant Deferral Agreement with the Employer, to defer the receipt
of Compensation from the Employer by a dollar amount or percentage specified in
the Participant Deferral Agreement.  The
amount of the Participant Deferral Credit shall be credited by the Employer to
the Deferred Compensation Account maintained for the Participant pursuant to
Section 8.  The following special
provisions shall apply with respect to the Participant Deferral Credits of a
Participant:

4.1.1        The Employer shall credit to the
Participant’s Deferred Compensation Account on each Crediting Date an amount
equal to the total Participant Deferral Credit for the period ending on such
Crediting Date.

 11
 

 

4.1.2        An election pursuant to this Section 4.1
shall be made by the Participant by executing and delivering a Participant
Deferral Agreement to the Committee. 
Except as otherwise provided in this Section 4.1, the Participant
Deferral Agreement shall become effective with respect to such Participant as
of the first day of January following the date such Participant Deferral
Agreement is received by the Committee. 
A Participant’s election may be changed at any time prior to the last
permissible date for making the election as permitted in this Section 4.1, and
shall thereafter be irrevocable.  The
election of a Participant shall continue in effect for subsequent years until
modified by the Participant as permitted in this Section 4.1, or until the
earlier of the date the Participant separates from Service or ceases to be an
Active Participant under the Plan.

4.1.3         In the case of the first year in which
the Participant becomes eligible to participate in the Plan, the Participant
may execute and deliver a Participant Deferral Agreement to the Committee
within 30 days after the date the Participant enters the Plan to be effective
as of the first payroll period next following the date the Participant Deferral
Agreement is received by the Committee. 
For Compensation that is earned based upon a specified performance
period (for example, an annual bonus), where a deferral election is made in the
first year of eligibility but after the beginning of the service period, the
election will be deemed to apply to Compensation paid for services subsequent
to the election if the election applies to the portion of the Compensation
equal to the total amount of the Compensation for the service period multiplied
by the ratio of the number of days remaining in the performance period after
the election over the total number of days in the performance period.

4.1.4        A Participant may unilaterally modify a
Participant Deferral Agreement (either to terminate, increase or decrease the
portion of his future Compensation which is subject to deferral within the
percentage limits set forth in Section 4.1 of the Adoption Agreement) by
providing a written modification of the Participant Deferral Agreement to the
Employer.  The modification shall become
effective as of the first day of January following the date such written modification
is received by the Committee.  Notwithstanding
the foregoing, at any time during the calendar year 2005, a Participant may
terminate a Participant Deferral Agreement, or modify a Participant Deferral
Agreement to reduce the amount of Compensation subject to the deferral
election, so long as the Compensation subject to the terminated or modified
Participant Deferral Agreement is includible in the income of the Participant
in calendar year 2005 or, if later, in the taxable year in which the amounts
are earned and vested.

4.1.5        If the Participant performed services
continuously from a date no later than the date upon which the performance
criteria are established through a date no earlier than the date upon which the
Participant makes an initial deferral election, a Participant Deferral Agreement
relating to the deferral of Performance-Based Compensation may be executed and
delivered to the Committee no later than the date which is 6 months prior to
the end of the performance period, provided that in no event may an election to
defer Performance-Based 

 12
 

 

Compensation be made after such Compensation
has become both substantially certain to be paid and readily ascertainable.

4.1.6        If the Employer has a fiscal year other
than the calendar year, Compensation relating to service in the fiscal year of
the Employer (such as a bonus based on the fiscal year of the Employer), of
which no amount is paid or payable during the fiscal year, may be deferred at
the Participant’s election only if the election to defer is made not later than
the close of the Employer’s fiscal year next preceding the first fiscal year in
which the Participant performs any services for which such Compensation is
payable.

4.1.7        Compensation payable after the last day
of the Participant’s taxable year solely for services provided during the final
payroll period containing the last day of the Participant’s taxable year (i.e.,
December 31) is treated for purposes of this Section 4.1 as Compensation for
services performed in the subsequent taxable year.

4.1.8        The Committee may from time to time
establish policies or rules consistent with the requirements of Section 409A of
the Code to govern the manner in which Participant Deferral Credits may be
made.

4.1.9        The requirements of Section 4.1.2
relating to the timing of the Participant Deferral Agreement shall not apply to
any deferral elections made on or before March 15, 2005, provided that (a) the
amounts to which the deferral election relate have not been paid or become
payable at the time of the election, (b) the Plan was in existence on or before
December 31, 2004, (c) the election to defer compensation is made in accordance
with the terms of the Plan as in effect on December 31, 2005 (other than a
requirement to make a deferral election after March 15, 2005), (d) the Plan is
otherwise operated in accordance with the requirements of Section 409A of the
Code, and (e) the Plan is amended to comply with Section 409A in accordance
with Q&A 19 of Notice 2005-1.

4.2          Employer Credits.  If designated by the Employer
in the Adoption Agreement, the Employer shall cause the Committee to credit to
the Deferred Compensation Account of each Active Participant an Employer Credit
as determined in accordance with the Adoption Agreement.

4.3          Deferred Compensation Account.  All Participant Deferral Credits and
Employer Credits shall be credited to the Deferred Compensation Account of the
Participant.

 13
 

 

Section 5.              Qualifying Distribution Events:

5.1          Separation from Service.  If the Participant
separates from Service with the Employer, the vested balance in the Deferred
Compensation Account shall be paid to the Participant by the Employer as
provided in Section 6. 
Notwithstanding the foregoing, no distribution shall be made earlier
than six months after the date of separation from Service (or, if earlier, the
date of death) with respect to a Participant who is a Specified Employee of a
corporation the stock in which is traded on an established securities market or
otherwise.  Any payments to which a
Specified Employee would be entitled during the first six months following the
date of separation from Service shall be accumulated and paid on the first day
of the seventh month following the date of separation from service.

5.2          Disability.  If the Participant
becomes Disabled while in Service, the vested balance in the Deferred
Compensation Account shall be paid to the Participant by the Employer as
provided in Section 6.

5.3          Death.  If the Participant dies while in Service,
the Employer shall pay a benefit to the Participant’s Beneficiary in the amount
designated in the Adoption Agreement. 
Payment of such benefit shall be made by the Employer as provided in
Section 6.  If a Participant dies
following his separation from Service for any reason, and before all payments
under the Plan have been made, the vested balance in the Deferred Compensation
Account shall be paid by the Employer to the Participant’s Beneficiary in a
single lump sum.

5.4          In-Service Distributions.  If the Employer
designates in the Adoption Agreement that in-service distributions are
permitted under the Plan, a Participant may designate in the Participant
Deferral Agreement to have a specified amount credited to the Participant’s
In-Service Account for in-service distributions at the later of the date
specified by the Participant or as specified in the Adoption Agreement.  In no event may an in-service distribution be
made

 14
 

 

prior to two
years following the establishment of the In-Service Account of the
Participant.  If the Participant elects
to receive in-service distributions in annual installment payments, the payment
of each annual installment shall be made on the anniversary of the date of the
first installment payment, and the amount of the annual installment shall be
adjusted on such anniversary for credits or debits to the Participant’s account
pursuant to Section 8 of the Plan.  Such
adjustment shall be made by dividing the balance in the In-Service Account on
such date by the number of annual installments remaining to be paid hereunder;
provided that the last annual installment due under the Plan shall be the
entire amount credited to the Participant’s In-Service Account on the date of
payment.  Notwithstanding the foregoing,
if a Participant incurs a Qualifying Distribution Event prior to the date on
which the entire balance in the In-Service Account has been distributed, then
the balance in the In-Service Account on the date of the Qualifying
Distribution Event shall be distributed to the Participant in the same manner
and at the same time as the balance in the Deferred Compensation Account is distributed
under Section 6 and in accordance with the rules and elections in effect under
Section 6.

5.5          Education Distributions.  If the Employer
designates in the Adoption Agreement that education distributions are permitted
under the Plan, a Participant may designate in the Participant Deferral
Agreement to have a specified amount credited to the Participant’s Education
Account for education distributions at the later of the date specified by the
Participant or the date specified in the Adoption Agreement.  If the Participant designates more than one
Student, the Education Account will be divided into a separate Education
Account for each Student, and the Participant may designate in the Participant
Deferral Agreement the percentage or dollar amount to be credited to each
Education Account.  In the absence of a
clear designation, all credits made to the Education Account shall be equally
allocated to each Education Account.  The
Employer shall pay to the Participant the balance in the Education Account with
respect to

 15
 

 

the Student at
the time and in the manner designated by the Participant in the Participant
Deferral Agreement. If the Participant elects to receive education
distributions in annual installment payments, the payment of each annual
installment shall be made on the anniversary of the date of the first
installment payment, and the amount of the annual installment shall be adjusted
on such anniversary for credits or debits to the Participant’s Education
Account pursuant to Section 8 of the Plan. 
Such adjustment shall be made by dividing the balance in the Education
Account on such date by the number of annual installments remaining to be paid
hereunder; provided that the last annual installment due under the Plan shall
be the entire amount credited to the Participant’s Education Account on the
date of payment.  Notwithstanding the
foregoing, if the Participant incurs a Qualifying Distribution Event prior to
the date on which the entire balance of the Education Account has been distributed,
then the balance in the Education Account on the date of the Qualifying
Distribution Event shall be distributed to the Participant in the same manner
and at the same time as the Deferred Compensation Account is distributed under
Section 6 and in accordance with the rules and elections in effect under
Section 6.

5.6          Change in Control.  If
the Employer designates in the Adoption Agreement that distributions are
permitted under the Plan in the event of a Change in Control, the  Participant may designate in the Participant
Deferral Agreement to have the vested balance in the Deferred Compensation
Account paid to the Participant upon a Change in Control by the Employer as
provided in Section 6.

5.7          Unforeseeable
Emergency.  A
distribution from the Deferred Compensation Account may be made to a
Participant in the event of an Unforeseeable Emergency, subject to the
following provisions:

5.7.1        A Participant may, at any time prior to
his separation from Service for any reason, make application to the Committee
to receive a distribution in a lump sum of all or a portion of the vested
balance in the Deferred Compensation

 16
 

 

Account (determined as of the date the
distribution, if any, is made under this Section 5.7) because of an
Unforeseeable Emergency.  A distribution
because of an Unforeseeable Emergency shall not exceed the amount required to
satisfy the Unforeseeable Emergency plus amounts necessary to pay taxes
reasonably anticipated as a result of such distribution, after taking into
account the extent to which the Unforeseeable Emergency may be relieved through
reimbursement or compensation by insurance or otherwise or by liquidation of
the Participant’s assets (to the extent the liquidation of such assets would
not itself cause severe financial hardship).

5.7.2        The Participant’s request for a
distribution on account of Unforeseeable Emergency must be made in writing to
the Committee.  The request must specify
the nature of the financial hardship, the total amount requested to be
distributed from the Deferred Compensation Account, and the total amount of the
actual expense incurred or to be incurred on account of the Unforeseeable
Emergency.

5.7.3        If a distribution under this Section 5.7
is approved by the Committee, such distribution will be made as soon as
practicable following the date it is approved. 
The processing of the request shall be completed as soon as practicable
from the date on which the Committee receives the properly completed written
request for a distribution on account of an Unforeseeable Emergency.  Any deferral election of the Participant in
effect at the time of a distribution on account of an Unforeseeable Emergency
may be cancelled upon the Participant’s request, and if so cancelled, any
subsequent deferral by the Participant shall be made pursuant to a new
Participant Deferral Agreement which shall become effective as of the first day
of January following the date such Participant Deferral Agreement is received
by the Committee.  If a Participant’s
separation from Service occurs after a request is approved in accordance with
this Section 5.7.3, but prior to distribution of the full amount approved, the
approval of the request shall be automatically null and void and the benefits
which the Participant is entitled to receive under the Plan shall be distributed
in accordance with the applicable distribution provisions of the Plan.

5.7.4        The Committee may from time to time
adopt additional policies or rules consistent with the requirements of Section
409A of the Code to govern the manner in which such distributions may be made
so that the Plan may be conveniently administered.

Section 6.              Qualifying Distribution Events
Payment Options:

6.1          Payment Options.  The Employer shall designate in
the Adoption Agreement the payment options which may be elected by the Participant.  The Participant shall elect in the
Participant Deferral Agreement the method under which the vested balance in the

 17
 

 

Deferred
Compensation Account will be distributed from among the designated payment
options.  Payment shall be made in the
manner elected by the Participant and shall commence upon the date of the
Qualifying Distribution Event.  A payment
shall be treated as made upon the date of the Qualifying Distribution Event if
it is made on such date or a later date within the same calendar year or, if
later, by the 15th day of the third calendar month following the
Qualifying Distribution Event.  A payment
may be further delayed to the extent permitted in accordance with regulations
and guidance under Section 409A of the Code. 
The Participant may elect a different method of payment for each
Qualifying Distribution Event as specified in the Adoption Agreement.  If the Participant elects the installment
payment option, the payment of each annual installment shall be made on the
anniversary of the date of the first installment payment, and the amount of the
annual installment shall be adjusted on such anniversary for credits or debits
to the Participant’s account pursuant to Section 8 of the Plan.  Such adjustment shall be made by dividing the
balance in the Deferred Compensation Account on such date by the number of
annual installments remaining to be paid hereunder; provided that the last
annual installment due under the Plan shall be the entire amount credited to
the Participant’s account on the date of payment.  In the event the Participant fails to make a
valid election of the payment method, the distribution will be made in a single
lump sum payment upon the Qualifying Distribution Event. Notwithstanding the
provisions of Sections 6.3 or 6.4 of the Plan, a Participant may elect on or
before December 31, 2006, the method of payment of amounts subject to Section
409A of the Code provided that such election applies only to amounts that would
not otherwise be payable in 2006 and does not cause an amount to paid in 2006
that would not otherwise be payable in such year.

6.2          De Minimis Amounts.  Notwithstanding any payment
election made by the Participant, the vested balance in the Deferred
Compensation Account of the Participant will

 18
 

 

be distributed
in a single lump sum payment if the payment accompanies the termination of the
Participant’s entire interest in the Plan and the amount of such payment does
not exceed the amount designated by the Employer in the Adoption
Agreement.  Such payment shall be made on
or before the later of (i) December 31 of the calendar year in which the
Participant separates from Service from the Employer, or (ii) the date that is
2-1/2 months after the Participant separates from Service from the Employer.

6.3          Subsequent Elections.  With the consent of the
Committee, a Participant may delay or change the method of payment of the
Deferred Compensation Account subject to the following requirements:

6.3.1        The new election may not take effect
until at least 12 months after the date on which the new election is made.

6.3.2        If the new election relates to a payment
for a Qualifying Distribution Event other than the death of the Participant,
the Participant becoming Disabled, or an Unforeseeable Emergency, the new
election must provide for the deferral of the first payment for a period of at
least five years from the date such payment would otherwise have been made.

6.3.3        If the new election relates to a payment
from the In-Service Account or Education Account, the new election must be made
at least 12 months prior to the date of the first scheduled payment from such
account.

For purposes of this Section 6.3 and Section 6.4, a
payment is each separately identified amount to which the Participant is
entitled under the Plan; provided, that entitlement to a series of installment
payments is treated as the entitlement to a single payment.

6.4          Acceleration
Prohibited.  The
acceleration of the time or schedule of any payment due under the Plan is
prohibited except as provided in regulations and administrative guidance
promulgated under Section 409A of the Code. 
It is not an acceleration of the time or schedule of payment if the
Employer waives or accelerates the vesting requirements applicable to a benefit
under the Plan.

 19

 

Section 7.              Vesting:

A Participant shall be fully vested in the portion of
his Deferred Compensation Account attributable to Participant Deferral Credits,
and all income, gains and losses attributable thereto.  A Participant shall become fully vested in
the portion of his Deferred Compensation Account attributable to Employer
Credits, and income, gains and losses attributable thereto, in accordance with
the vesting schedule and provisions designated by the Employer in the Adoption
Agreement.  If a Participant’s Deferred
Compensation Account is not fully vested upon separation from Service, the
portion of the Deferred Compensation Account that is not fully vested shall
thereupon be forfeited.

Section 8.              Accounts; Deemed Investment;
Adjustments to Account:

8.1          Accounts.  The Committee shall establish a book
reserve account, entitled the “Deferred Compensation Account,” on behalf of
each Participant.  The Committee shall
also establish an In-Service Account and Education Account as a part of the
Deferred Compensation Account of each Participant, if applicable.  The amount credited to the Deferred
Compensation Account shall be adjusted pursuant to the provisions of
Section 8.3.

8.2          Deemed Investments.  The Deferred Compensation
Account of a Participant shall be credited with an investment return determined
as if the account were invested in one or more investment funds made available
by the Committee.  The Participant shall
elect the investment funds in which his Deferred Compensation Account shall be
deemed to be invested.  Such election
shall be made in the manner prescribed by the Committee and shall take effect
upon the entry of the Participant into the Plan. The investment election of the
Participant shall remain in effect until a new election is made by the Participant.  In the event the Participant fails for any
reason to make an effective election of the investment return to be credited to
his account, the investment return shall be determined by the Committee.

 20
 

 

8.3          Adjustments to Deferred Compensation Account.  With
respect to each Participant who has a Deferred Compensation Account under the
Plan, the amount credited to such account shall be adjusted by the following
debits and credits, at the times and in the order stated:

8.3.1        The
Deferred Compensation Account shall be debited each business day with the total
amount of any payments made from such account since the last preceding business
day to him or for his benefit.

8.3.2        The
Deferred Compensation Account shall be credited on each Crediting Date with the
total amount of any Participant Deferral Credits and Employer  Credits to such account since the last
preceding Crediting Date.

8.3.3        The
Deferred Compensation Account shall be credited or debited on each day
securities are traded on a national stock exchange with the amount of deemed
investment gain or loss resulting from the performance of the investment funds
elected by the Participant in accordance with Section 8.2.  The amount of such deemed investment gain or
loss shall be determined by the Committee and such determination shall be final
and conclusive upon all concerned.

Section 9.              Administration by Committee:  

9.1          Membership of Committee.  If elected in the Adoption Agreement, the Committee shall
consist of at least three individuals who shall be appointed by the Board to
serve at the pleasure of the Board.  Any
member of the Committee may resign, and his successor, if any, shall be
appointed by the Board.  The Committee shall
be responsible for the general administration and interpretation of the Plan
and for carrying out its provisions, except to the extent all or any of such
obligations are specifically imposed on the Board.

9.2          Committee Officers; Subcommittee.  The members of
the Committee may elect Chairman and may elect an acting Chairman.  They may also elect a Secretary and may elect
an acting Secretary, either of whom may be but need not be a member of the
Committee.  The Committee may appoint
from its membership such subcommittees with such 

 21
 

 

powers as the Committee shall determine, and
may authorize one or more of its members or any agent to execute or deliver any
instruments or to make any payment on behalf of the Committee.

9.3          Committee Meetings.  The Committee shall hold such
meetings upon such notice, at such places and at such intervals as it may from
time to time determine.  Notice of
meetings shall not be required if notice is waived in writing by all the
members of the Committee at the time in office, or if all such members are
present at the meeting.

9.4          Transaction of Business.  A majority of the
members of the Committee at the time in office shall constitute a quorum for
the transaction of business.  All
resolutions or other actions taken by the Committee at any meeting shall be by
vote of a majority of those present at any such meeting and entitled to
vote.  Resolutions may be adopted or
other action taken without a meeting upon written consent thereto signed by all
of the members of the Committee.

9.5          Committee Records.  The Committee shall maintain
full and complete records of its deliberations and decisions.  The minutes of its proceedings shall be
conclusive proof of the facts of the operation of the Plan.

9.6          Establishment of Rules.  Subject to the
limitations of the Plan, the Committee may from time to time establish rules or
by-laws for the administration of the Plan and the transaction of its business.

9.7          Conflicts of Interest.  No individual member of
the Committee shall have any right to vote or decide upon any matter relating
solely to himself or to any of his rights or benefits under the Plan (except
that such member may sign unanimous written consent to resolutions adopted or
other action taken without a meeting), except relating to the terms of his
Participant Deferral Agreement.

 22
 

 

9.8          Correction of Errors.  The Committee may correct
errors and, so far as practicable, may adjust any benefit or credit or payment
accordingly.  The Committee may in its
discretion waive any notice requirements in the Plan; provided, that a waiver
of notice in one or more cases shall not be deemed to constitute a waiver of
notice in any other case.  With respect
to any power or authority which the Committee has discretion to exercise under
the Plan, such discretion shall be exercised in a nondiscriminatory manner.

9.9          Authority to Interpret Plan.  Subject to the
claims procedure set forth in Section 16 the Plan Administrator and the
Committee shall have the duty and discretionary authority to interpret and
construe the provisions of the Plan and to decide any dispute which may arise
regarding the rights of Participants hereunder, including the discretionary
authority to construe the Plan and to make determinations as to eligibility and
benefits under the Plan.  Determinations
by the Plan Administrator and the Committee shall apply uniformly to all
persons similarly situated and shall be binding and conclusive upon all
interested persons.

9.10        Third Party Advisors.  The Committee may engage an
attorney, accountant, actuary or any other technical advisor on matters
regarding the operation of the Plan and to perform such other duties as shall
be required in connection therewith, and may employ such clerical and related
personnel as the Committee shall deem requisite or desirable in carrying out
the provisions of the Plan.  The
Committee shall from time to time, but no less frequently than annually, review
the financial condition of the Plan and determine the financial and liquidity
needs of the Plan.  The Committee shall
communicate such needs to the Employer so that its policies may be
appropriately coordinated to meet such needs.

9.11        Compensation of Members.  No fee or compensation
shall be paid to any member of the Committee for his Service as such.

 23
 

 

9.12        Expense Reimbursement.   The Committee shall
be entitled to reimbursement by the Employer for its reasonable expenses
properly and actually incurred in the performance of its duties in the
administration of the Plan.

9.13        Indemnification.  No member of the Committee shall
be personally liable by reason of any contract or other instrument executed by
him or on his behalf as a member of the Committee nor for any mistake of
judgment made in good faith, and the Employer shall indemnify and hold
harmless, directly from its own assets (including the proceeds of any insurance
policy the premiums for which are paid from the Employer’s own assets), each
member of the Committee and each other officer, employee, or director of the
Employer to whom any duty or power relating to the administration or
interpretation of the Plan may be delegated or allocated, against any
unreimbursed or uninsured cost or expense (including any sum paid in settlement
of a claim with the prior written approval of the Board) arising out of any act
or omission to act in connection with the Plan unless arising out of such
person’s own fraud, bad faith, willful misconduct or gross negligence.

Section 10.            Contractual Liability; Trust:  

10.1        Contractual Liability.  The obligation of the
Employer to make payments hereunder shall constitute a contractual liability of
the Employer to the Participant.  Such
payments shall be made from the general funds of the Employer, and the Employer
shall not be required to establish or maintain any special or separate fund, or
otherwise to segregate assets to assure that such payments shall be made, and
the Participant shall not have any interest in any particular assets of the
Employer by reason of its obligations hereunder.  To the extent that any person acquires a
right to receive payment from the Employer, such right shall be no greater than
the right of an unsecured creditor of the Employer.

 24
 

 

10.2        Trust.  If so designated in the Adoption
Agreement, the Employer may establish a Trust with the Trustee, pursuant to
such terms and conditions as are set forth in the Trust Agreement.  The Trust, if and when established, is
intended to be treated as a grantor trust for purposes of the Code and all
assets of the Trust shall be held in the United States.  The establishment of the Trust is not
intended to cause Participants to realize current income on amounts contributed
thereto, and the Trust shall be so interpreted and administered.

Section 11.            Allocation of Responsibilities:  

The persons responsible for the Plan and the duties
and responsibilities allocated to each are as follows:

11.1        Board.

(i)            To
amend the Plan;

(ii)           To
appoint and remove members of the Committee; and

(iii)          To
terminate the Plan as permitted in Section 14.

11.2        Committee.

(i)            To
designate Participants;

(ii)           To
interpret the provisions of the Plan and to determine the rights of the
Participants under the Plan, except to the extent otherwise provided in
Section 16 relating to claims procedure;

(iii)          To
administer the Plan in accordance with its terms, except to the extent powers
to administer the Plan are specifically delegated to another person or persons
as provided in the Plan;

(iv)          To
account for the amount credited to the Deferred Compensation Account of a
Participant; and

(v)           To
direct the Employer in the payment of benefits.

11.3        Plan Administrator.

(i)            To
file such reports as may be required with the United States Department of
Labor, the Internal Revenue Service and any other government agency to which
reports may be required to be submitted from time to time; and

 25
 

 

(ii)           To
administer the claims procedure to the extent provided in Section 16.

Section 12.            Benefits Not Assignable; Facility
of Payments:  

12.1        Benefits Not Assignable.  No portion of any
benefit credited or paid under the Plan with respect to any Participant shall
be subject in any manner to anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance or charge, and any attempt so to anticipate,
alienate, sell, transfer, assign, pledge, encumber or charge the same shall be
void, nor shall any portion of such benefit be in any manner payable to any
assignee, receiver or any one trustee, or be liable for his debts, contracts,
liabilities, engagements or torts. 
Notwithstanding the foregoing, in the event that all or any portion of
the benefit of a Participant is transferred to the former spouse of the
Participant incident to a divorce, the Committee shall maintain such amount for
the benefit of the former spouse until distributed in the manner required by an
order of any court having jurisdiction over the divorce, and the former spouse
shall be entitled to the same rights as the Participant with respect to such
benefit.

12.2        Plan-Approved Domestic Relations Orders.  The Plan
Administrator shall establish written procedures for determining whether an
order directed to the Plan is a Plan-Approved Domestic Relations Order.

12.2.1      Review
by Plan Administrator:  The Plan Administrator shall make
a determination on each final court order directed to the Plan as to whether
the order is a Plan-Approved Domestic Relations Order.  The Plan Administrator may delay the
commencement of its consideration of any order until the later of the date that
is 30 days after the date of the order or the date that the Plan Administrator
is satisfied that all rehearing and appeal rights with respect to the order
have expired.

12.2.2      Payment
to Alternate Payee:  If the Plan Administrator
determines that an order is a Plan-approved Domestic Relations Order, the Plan
Administrator shall cause the payment of amounts pursuant to or segregate a
separate account as provided by (and to prevent any payment or act which might
be inconsistent with) the Plan-Approved Domestic Relations Order.

 26
 

 

12.2.3      Expenses:  The Employer and the Plan Administrator shall
not be obligated to incur any cost to defend against or set aside any judgment,
decree, or order relating to the division, attachment, garnishment, or
execution of or levy upon the Participant’s account or any distribution,
including (but not limited to) any domestic relations proceeding.
Notwithstanding the foregoing, if any such person is joined in any proceeding,
the party may take such action as it considers necessary or appropriate to
protect any and all of its legal rights, and the Participant (or Beneficiary)
shall reimburse all actual fees of lawyers and legal assistants and expenses
reasonably incurred by such party.

12.3        Payments to Minors and Others.  If any individual
entitled to receive a payment under the Plan shall be physically, mentally or
legally incapable of receiving or acknowledging receipt of such payment, the
Committee, upon the receipt of satisfactory evidence of his incapacity and
satisfactory evidence that another person or institution is maintaining him and
that no guardian or committee has been appointed for him, may cause any payment
otherwise payable to him to be made to such person or institution so
maintaining him.  Payment to such person
or institution shall be in full satisfaction of all claims by or through the
Participant to the extent of the amount thereof.

Section 13.            Beneficiary:  

The Participant’s beneficiary shall be the person or
persons designated by the Participant on the beneficiary designation form
provided by and filed with the Committee or its designee.  If the Participant does not designate a
beneficiary, the beneficiary shall be his Surviving Spouse.  If the Participant does not designate a
beneficiary and has no Surviving Spouse, the beneficiary shall be the
Participant’s estate.  The designation of
a beneficiary may be changed or revoked only by filing a new beneficiary
designation form with the Committee or its designee.  If a beneficiary (the “primary beneficiary”)
is receiving or is entitled to receive payments under the Plan and dies before
receiving all of the payments due him, the balance to which he is entitled
shall be paid to the contingent beneficiary, if any, named in the Participant’s
current beneficiary designation form.  If
there is no contingent beneficiary, the balance shall be 

 27
 

 

paid to the estate of the primary beneficiary.  Any beneficiary may disclaim all or any part
of any benefit to which such beneficiary shall be entitled hereunder by filing
a written disclaimer with the Committee before payment of such benefit is to be
made.  Such a disclaimer shall be made in
a form satisfactory to the Committee and shall be irrevocable when filed.  Any benefit disclaimed shall be payable from
the Plan in the same manner as if the beneficiary who filed the disclaimer had
predeceased the Participant.

Section 14.            Amendment and Termination of
Plan:

The Employer may amend any provision of the Plan or
terminate the Plan at any time; provided, that in no event shall such amendment
or termination reduce the balance in any Participant’s Deferred Compensation
Account as of the date of such amendment or termination, nor shall any such
amendment affect the terms of the Plan relating to the payment of such Deferred
Compensation Account.  Notwithstanding
the foregoing, the following special provisions shall apply:

14.1        Termination in the Discretion of the Employer.  Except
as otherwise provided in Sections 14.2 or 14.3, the Employer in its discretion
may terminate the Plan and distribute benefits to Participants subject to the
following requirements:

14.1.1      All
arrangements sponsored by the Employer that would be aggregated with the Plan
under Section 1.409A-1(c) of the Treasury Regulations are terminated.

14.1.2      No
payments other than payments that would be payable under the terms of the Plan
if the termination had not occurred are made within 12 months of the
termination date.

14.1.3      All
benefits under the Plan are paid within 24 months of the termination date.

14.1.4      The
Employer does not adopt a new arrangement that would be aggregated with the
Plan under Section 1.409A-1(c) of the Treasury Regulations providing for the
deferral of compensation at any time within five years following the date of
termination of the Plan.

 28
 

 

14.2        Termination Upon Change in Control.  If the Employer terminates the
Plan within thirty days preceding or twelve months following a Change in
Control, the Deferred Compensation Account of each Participant shall become
fully vested and payable to the Participant in a lump sum within twelve months
following the date of termination.

14.3        Termination On or Before December 31, 2005.  The Employer may
terminate the Plan on or before December 31, 2005, and distribute the vested
balance in the Deferred Compensation Account to each Participant so long as all
amounts deferred under the Plan are included in the income of the Participant
in the taxable year in which the termination occurs.

14.4        No Financial Triggers.  The Employer may not terminate the
Plan and make distributions to a Participant due solely to a change in the
financial health of the Employer.  This
provision shall apply to amounts earned and vested before, on or after December
31, 2004.

Section 15.            Communication to Participants:

The Employer shall make a copy of the Plan available
for inspection by Participants and their beneficiaries during reasonable hours
at the principal office of the Employer.

Section 16.            Claims Procedure:

The following claims procedure shall apply with
respect to the Plan:

16.1        Filing of a Claim for Benefits.  If a Participant
or beneficiary (the “claimant”) believes that he is entitled to benefits under
the Plan which are not being paid to him or which are not being accrued for his
benefit, he shall file a written claim therefore with the Plan
Administrator.  In the event the Plan
Administrator shall be the claimant, all actions which are required to be taken
by the Plan Administrator pursuant to this Section 16 shall be taken
instead by another member of the Committee designated by the Committee.

 29
 

 

16.2        Notification to Claimant of Decision.  Within 90
days after receipt of a claim by the Plan Administrator (or within 180 days if
special circumstances require an extension of time), the Plan Administrator
shall notify the claimant of the decision with regard to the claim.  In the event of such special circumstances
requiring an extension of time, there shall be furnished to the claimant prior
to expiration of the initial 90-day period written notice of the extension,
which notice shall set forth the special circumstances and the date by which
the decision shall be furnished.  If such
claim shall be wholly or partially denied, notice thereof shall be in writing
and worded in a manner calculated to be understood by the claimant, and shall
set forth:  (i) the specific reason
or reasons for the denial; (ii) specific reference to pertinent provisions
of the Plan on which the denial is based; (iii) a description of any
additional material or information necessary for the claimant to perfect the
claim and an explanation of why such material or information is necessary; and
(iv) an explanation of the procedure for review of the denial and the time
limits applicable to such procedures, including a statement of the claimant’s
right to bring a civil action under ERISA following an adverse benefit
determination on review.  Notwithstanding
the forgoing, if the claim relates to a Participant who is Disabled, the Plan
Administrator shall notify the claimant of the decision within 45 days (which
may be extended for an additional 30 days if required by special
circumstances).

16.3        Procedure for Review.  Within 60 days following
receipt by the claimant of notice denying his claim, in whole or in part, or,
if such notice shall not be given, within 60 days following the latest date on
which such notice could have been timely given, the claimant shall appeal
denial of the claim by filing a written application for review with the
Committee.  Following such request for
review, the Committee shall fully and fairly review the decision denying the
claim.  Prior to the decision of the
Committee, the claimant shall be given an opportunity to review pertinent
documents and to submit issues and comments in writing.

 30
 

 

16.4        Decision on Review.  The decision on review of a
claim denied in whole or in part by the Plan Administrator shall be made in the
following manner:

16.4.1      Within
60 days following receipt by the Committee of the request for review (or within
120 days if special circumstances require an extension of time), the Committee
shall notify the claimant in writing of its decision with regard to the
claim.  In the event of such special
circumstances requiring an extension of time, written notice of the extension
shall be furnished to the claimant prior to the commencement of the
extension.  Notwithstanding the forgoing,
if the claim relates to a Participant who is Disabled, the Committee shall
notify the claimant of the decision within 45 days (which may be extended for an
additional 45 days if required by special circumstances).

16.4.2      With
respect to a claim that is denied in whole or in part, the decision on review
shall set forth specific reasons for the decision, shall be written in a manner
calculated to be understood by the claimant, and shall cite specific references
to the pertinent Plan provisions on which the decision is based.

16.4.3      The
decision of the Committee shall be final and conclusive.

16.5        Action by Authorized Representative of Claimant.  All
actions set forth in this Section 16 to be taken by the claimant may
likewise be taken by a representative of the claimant duly authorized by him to
act in his behalf on such matters.  The
Plan Administrator and the Committee may require such evidence as either may
reasonably deem necessary or advisable of the authority to act of any such
representative.

Section 17.            Miscellaneous Provisions:

17.1        Set off.  Notwithstanding any other provision of
this Plan, the Employer may reduce the amount of any payment otherwise payable
to or on behalf of a Participant hereunder (net of any required withholdings)
by the amount of any loan, cash advance, extension of credit or other
obligation of the Participant to the Employer that is then due and payable, and
the Participant shall be deemed to have consented to such reduction.

17.2        Notices.  Each Participant who is not in Service
and each Beneficiary shall be responsible for furnishing the Committee or its
designee with his current address for the 

 31
 

 

mailing of notices and benefit payments.  Any notice required or permitted to be given
to such Participant or Beneficiary shall be deemed given if directed to such
address and mailed by regular United States mail, first class, postage prepaid.  If any check mailed to such address is returned
as undeliverable to the addressee, mailing of checks will be suspended until
the Participant or beneficiary furnishes the proper address.  This provision shall not be construed as
requiring the mailing of any notice or notification otherwise permitted to be
given by posting or by other publication.

17.3        Lost Distributees.  A benefit shall be deemed
forfeited if the Plan Administrator is unable to locate the Participant or
Beneficiary to whom payment is due on or before the fifth anniversary of the
date payment is to be made or commence; provided, that the deemed investment
rate of return pursuant to Section 8.2 shall cease to be applied to the
Participant’s account following the first anniversary of such date; provided
further, however, that such benefit shall be reinstated if a valid claim is
made by or on behalf of the Participant or Beneficiary for all or part of the
forfeited benefit.

17.4        Reliance on Data.  The Employer, the Committee and
the Plan Administrator shall have the right to rely on any data provided by the
Participant or by any Beneficiary. 
Representations of such data shall be binding upon any party seeking to
claim a benefit through a Participant, and the Employer, the Committee and the
Plan Administrator shall have no obligation to inquire into the accuracy of any
representation made at any time by a Participant or beneficiary.

17.5        Receipt and Release for Payments.  Subject to the
provisions of Section 17.1, any payment made from the Plan to or with
respect to any Participant or Beneficiary, or pursuant to a disclaimer by a
Beneficiary, shall, to the extent thereof, be in full satisfaction of all
claims hereunder against the Plan and the Employer with respect to the
Plan.  

 32
 

 

The recipient of any payment from the Plan
may be required by the Committee, as a condition precedent to such payment, to
execute a receipt and release with respect thereto in such form as shall be
acceptable to the Committee.

17.6        Headings.  The headings and subheadings of the
Plan have been inserted for convenience of reference and are to be ignored in
any construction of the provisions hereof.

17.7        Continuation of Employment.  The establishment of
the Plan shall not be construed as conferring any legal or other rights upon
any Employee or any persons for continuation of employment, nor shall it
interfere with the right of the Employer to discharge any Employee or to deal
with him without regard to the effect thereof under the Plan.

17.8        Merger or Consolidation; Assumption of Plan.  No
Employer shall consolidate or merge into or with another corporation or entity,
or transfer all or substantially all of its assets to another corporation,
partnership, trust or other entity (a “Successor Entity”) unless such Successor
Entity shall assume the rights, obligations and liabilities of the Employer
under the Plan and upon such assumption, the Successor Entity shall become
obligated to perform the terms and conditions of the Plan.  Nothing herein shall prohibit the assumption
of the obligations and liabilities of the Employer under the Plan by any
Successor Entity.

17.9        Construction.  The
Employer shall designate in the Adoption Agreement the state according to whose
laws the provisions of the Plan shall be construed and enforced, except to the
extent that such laws are superseded by ERISA and the applicable requirements
of the Code.

 33Exhibit 10.1.1

LENDER JOINDER AGREEMENT

THIS LENDER JOINDER AGREEMENT
(this “Agreement”) dated as of September 21, 2006 to the Credit
Agreement referenced below is among GFI GROUP INC., a Delaware corporation (“GFI”),
GFI HOLDINGS LIMITED, a company incorporated under the laws of England and
Wales (the “Foreign Borrower”, together with GFI, the “Borrowers”),
the Guarantors identified on the signature pages hereto, BANK OF MONTREAL (the “New Lender”) and BANK OF AMERICA, N.A., as Administrative
Agent (in such capacity, the “Administrative Agent”).

WITNESSETH

WHEREAS, a credit facility has been extended to the
Borrowers pursuant to the terms of that certain Credit Agreement (as amended,
modified and supplemented from time to time, the “Credit Agreement”)
dated as of February 24, 2006 among the Borrowers, the Guarantors, certain
financial institutions from time to time party thereto, as lenders (the “Lenders”)
and the Administrative Agent;

WHEREAS, pursuant to Section
2.02(f) of the Credit Agreement, GFI has the right to increase the
Aggregate Revolving Commitments by up to $50 million with new Commitments; and

WHEREAS, the New Lender has
agreed to provide a $25,000,000
Revolving Commitment (the “Facility Increase”) under the Credit Agreement.

NOW, THEREFORE, IN CONSIDERATION of the premises and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:

1.             Defined Terms.  Capitalized
terms used herein but not defined herein shall have the meanings assigned to
such terms in the Credit Agreement.

2.             Revolving
Commitment.  The New Lender hereby
agrees that from and after September 28, 2006 the New Lender shall have a
Revolving Commitment of $25,000,000 under the Credit Agreement.  The Borrowers, the Guarantors and the New
Lender hereby acknowledge, agree and confirm that the New Lender shall from and
after September 28, 2006 be deemed to be a party to the Credit Agreement and a “Lender”
for all purposes of the Credit Agreement and the other Loan Documents, and
shall have all of the rights and obligations of a Lender under the Credit
Agreement and the other Loan Documents as if the New Lender had executed the
Credit Agreement.  For the avoidance of
doubt, the parties hereto agree that the New Lender will not become a party to
the Credit Agreement and have a Revolving Commitment thereunder until September
28, 2006.

3.             Conditions Precedent.  This
Agreement shall be effective as of the date hereof upon satisfaction of each of
the following conditions precedent:

 

(a)           receipt by the
Administrative Agent of this Agreement executed by the Borrowers, the
Guarantors, the New Lender and the Administrative Agent; and

(b)           receipt by the Administrative Agent of a certificate dated as of the
date hereof from each Loan Party (i) certifying and attaching the resolutions
adopted by such Loan Party approving or consenting to the Facility Increase and
(ii) in the case of GFI, certifying that, before and after giving effect to the
Facility Increase, (A) the representations and warranties contained in Article
VI of the Credit Agreement and in the other Loan Documents are true and
correct in all material respects on and as of the date hereof, except to the
extent that such representations and warranties specifically refer to an
earlier date, in which case they are true and correct as of such earlier date,
and except that for purposes of such certificate, the representations and
warranties contained in subsections (a) and (b) of Section 6.05 of the
Credit Agreement shall be deemed to refer to the most recent statements
furnished pursuant to clauses (a) and (b), respectively, of Section 7.01
of the Credit Agreement and (B) no Default or Event of Default exists.

4.             Notices.  The applicable address, facsimile number and
electronic mail address of the New Lender for purposes of Section 11.02
of the Credit Agreement are as set forth in the Administrative Questionnaire
delivered by the New Lender to the Administrative Agent and GFI on or before
the date hereof or such other address, facsimile number and electronic mail
address as shall be designated by the New Lender in a notice to the
Administrative Agent and GFI.

5.             Reaffirmation of
Guaranty.  Each Guarantor (a) acknowledges and consents to all of the terms and
conditions of this Agreement, (b) affirms all of its obligations under the Loan Documents and (c) agrees that this Agreement and all
documents executed in connection herewith do not operate to reduce or discharge
such Guarantor’s obligations under the Loan Documents.

6.             Governing Law.  This
Agreement shall be deemed to be a contract made under, and for all purposes
shall be construed in accordance with, the laws of the State of New York.

7.             Counterparts.  This Agreement may be executed in multiple
counterparts, each of which shall constitute an original but all of which when
taken together shall constitute one contract.

[Signature Pages Follow]

 

IN WITNESS WHEREOF, the Borrowers, the Guarantors, the New Lender and
the Administrative Agent have caused this Agreement to be executed by their
officers thereunto duly authorized as of the date hereof.

	
  GFI:

  	
  GFI GROUP, INC.

  
	
   

  	
  a Delaware
  corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
  FOREIGN
  BORROWER:

  	
  GFI HOLDINGS LIMITED,

  
	
   

  	
  a company incorporated under the laws of England

  and Wales

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
  DOMESTIC
  GUARANTORS:

  	
  GFI GROUP LLC,

  
	
   

  	
  a New York
  limited liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  GFINET INC.,

  
	
   

  	
  a Delaware
  corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  GFI BROKERS LLC,

  
	
   

  	
  a Delaware
  limited liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  INTERACTIVE
  VENTURES LLC,

  
	
   

  	
  a Delaware
  limited liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

 

 

	
  

  	
  FENICS SOFTWARE
  INC.,

  
	
   

  	
  a Delaware
  corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
  FOREIGN
  GUARANTORS:

  	
  FENICS LIMITED,

  
	
   

  	
  a company
  incorporated under the

  
	
   

  	
  laws of England
  and Wales

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  FENICS SOFTWARE
  LIMITED,

  
	
   

  	
  a company
  incorporated under the

  
	
   

  	
  laws of England
  and Wales

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  GFINET EUROPE
  LIMITED,

  
	
   

  	
  a company
  incorporated under the

  
	
   

  	
  laws of England
  and Wales

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

 

 

	
  NEW LENDER:

  	
  BANK OF MONTREAL

  
	
   

  	
   

  
	
   

  	
  By:         Bank
  of Montreal – Chicago Branch

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  By:         Bank
  of Montreal – London Branch

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
  ADMINISTRATIVE
  AGENT:

  	
                 BANK
  OF AMERICA, N.A.,

  
	
   

  	
  as Administrative Agent

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

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