Document:

1992 KESOP

    

    MDU
      RESOURCES GROUP, INC.

    

    1992
      KEY EMPLOYEE STOCK OPTION PLAN

    

    (KESOP)

    

    I. Purpose

    

    The
      purpose of the MDU Resources Group, Inc. 1992 Key Employee Stock Option Plan
      (the "Plan") is to motivate key employees of MDU Resources Group, Inc. and
      its
      business units to achieve specified long-term performance goals of MDU Resources
      Group, Inc. or its business units and to encourage ownership by them of the
      Common Stock of MDU Resources Group, Inc. The Plan accomplishes these objectives
      through the grant of performance accelerated Stock Options and the opportunity
      to earn dividend equivalents.

    

    II. Definitions

    

    The
      following definitions shall be used for purposes of administering the
      Plan:

    

    
      	 	
              "Agreement"
                means a written agreement evidencing each award of Options, which
                shall
                contain such terms and be in such form as the Compensation Committee
                may
                determine.

            

    

    
      	 	 

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

            

    

    
      	 	 

      	 	
              "Cause"
                means the (1) continued failure by a Participant to perform his/her
                duties
                (except as a direct result of the Participant's Disability) after
                receiving notification by the Chief Executive Officer of the Company
                or an
                individual designated by the Chief Executive Officer (or the Board
                of
                Directors of the Company in the case of the Chief Executive Officer)
                identifying the manner in which the Participant has failed to perform
                his/her duties, (2) engaging in conduct, which, in the opinion of
                a
                majority of the Board of Directors of the Company or a business unit,
                is
                materially injurious to the Company, or (3) conviction of any
                felony.

            

    

    
      	 	 

      	 	
              "Change
                of Control" means the earliest of the following to occur: (a) the
                public
                announcement by the Company or by any person (which shall not include
                the
                Company, any subsidiary of the Company, or any employee benefit plan
                of
                the Company or of any subsidiary of the Company) ("Person") that
                such
                Person, who or which, together with all Affiliates and Associates
                (within
                the meanings ascribed to such terms in the Rule 12b-2 of the General
                Rules
                and Regulations under the Exchange Act) of such Person, shall be
                the
                beneficial owner of twenty percent (20%) or more of the voting stock
                of
                the Company outstanding; (b) the commencement of, or after the first
                public announcement of any Person to commence, a tender or exchange
                offer
                the consummation of which would result in any Person becoming the
                beneficial owner of voting stock aggregating thirty percent (30%)
                or more
                of the then outstanding voting stock of the Company; (c) the announcement
                of any transaction relating to the Company required to be described
                pursuant to the requirements of Item 6(e) of Schedule 14A of Regulation
                14A under the Exchange Act; (d) a proposed change in constituency
                of the
                Board such that, during any period of two (2) consecutive years,
                individuals who at the beginning of such period constitute the Board
                cease
                for any reason to constitute at least a majority thereof, unless
                the
                election or nomination for election by the stockholders of the Company
                of
                each new Director was approved by a vote of at least two-thirds (2/3)
                of
                the Directors then still in office who were members of the Board
                at the
                beginning of the period; or (e) any other event which shall be deemed
                by a
                majority of the Compensation Committee to constitute a "change in
                control."

            

    

    
      	 	
               

            

    

    
      	 	
              "Common
                Stock" means the Common Stock, $1.00 par value, of the
                Company.

            

    

    
      	 	 

      	 	
              "Company"
                shall refer to MDU Resources Group,
                Inc.

            

    

    
      	 	 

      	 	
              "Companies"
                shall refer to MDU Resources Group, Inc. and its business
                units.

            

    

    
      	 	 

      	 	
              "Compensation
                Committee" or "Committee" shall be the Compensation Committee of
                the Board
                of Directors of the Company or any Committee of the Board performing
                similar functions as appointed from time to time by the
                Board.

            

    

    
      	 	 

      	 	
              “Covered
                Employee” means any Participant who would be considered a “Covered
                Employee” for purposes of Section 162(m) of the Internal Revenue Code
                of 1986, as amended.

            

    

    
      	 	 

      	 	
              "Disability"
                means the inability of a Participant to perform each and every duty
                pertaining to the Participant's regular occupation by reason of any
                medically determinable physical or mental impairment which can be
                expected
                to result in death or which has lasted or can be expected to last
                for a
                continuous period of not less than twelve
                months.

            

    

    
      	 	 

      	 	
              "Dividend
                Account" is defined in Section IV.D
                6.

            

    

    
      	 	
              "Effective
                Date" means the date as of which the Plan is approved by the stockholders
                of MDU Resources Group, Inc.

            

    

    
      	 	 

      	 	
              "Eligible
                Employee" means any key employee of any of the Companies who, in
                the
                opinion of the Compensation Committee, has significant responsibility
                for
                the continued growth, development and financial success of the Company
                or
                any business unit thereof.

            

    

    
      	 	 

      	 	
              "Exchange"
                means the New York Stock Exchange.

            

    

    
      	 	 

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

            

    

    
      	 	 

      	 	
              "Fair
                Market Value" means the average of the high and low prices for shares
                of
                Common Stock traded on the Exchange on the date of the grant of such
                Option or if no shares are traded on that day, on the next preceding
                day
                on which Common Stock was traded on the
                Exchange.

            

    

    
      	 	 

      	 	
              "Goals"
                means the performance goals established by the Committee, which shall
                be
                based on one or more of the following measures: sales or revenues,
                earnings per share, shareholder return and/or value, funds from
                operations, operating income, gross income, net income, cash flow,
                return
                on equity, return on capital, earnings before interest, operating
                ratios,
                stock price, customer satisfaction, accomplishment of mergers,
                acquisitions, dispositions or similar extraordinary business transactions,
                profit returns and margins, financial return ratios and/or market
                performance. Performance goals may be measured solely on a corporate,
                subsidiary or business unit basis, or a combination thereof. Performance
                goals may reflect absolute entity performance or a relative comparison
                of
                entity performance to the performance of a peer group of entities
                or other
                external measure.

            

    

    
      	 	 

      	 	
              "Option"
                or "Stock Option" means an option to purchase Common Stock granted
                pursuant to the Plan. Options may not be "incentive stock options"
                as that
                term is defined in Section 422 of the Internal Revenue Code of 1986,
                as amended.

            

    

    
      	 	 

      	 	
              "Participants"
                means those Eligible Employees selected by the Committee for participation
                in the Plan and includes their beneficiaries as
                applicable.

            

    

    
      	 	
              "Performance
                Cycle" means a time frame established by the Committee pursuant to
                Section
                IV.D 4 for the measurement of
                Goals.

            

    

    
      	 	 

      	 	
              "Plan"
                means this MDU Resources Group, Inc. 1992 Key Employee Stock Option
                Plan,
                adopted by the Board on February 13, 1992, and approved by the
                stockholders on April 28, 1992, and as amended from time to
                time.

            

    

    
      	 	 

      	 	
              "Termination
                of Service" means leaving the employ of the Companies for any reason.
                Transfer between Companies is not a Termination of
                Service.

            

    

    
      	 	 

      	 	
              "Trustee"
                means a trustee chosen by the Committee or any successor trustee
                selected
                by the Committee.

            

    

    

    III. Administration

    

    Subject
      to and not inconsistent with the express provisions of the Plan the Committee
      has the sole and complete discretion to administer and interpret the Plan,
      including, but not limited to:

    

    (a) designating
      the Participants to whom Options are granted under the Plan;

    

    (b) authorizing
      the Trustee to grant Options, determining the time(s) when Options are granted
      and fixing the number of shares of Common Stock underlying each Option granted
      hereunder;

    

    (c) determining
      the terms and conditions of an Option granted (including, but not limited to,
      the exercise price, any restriction or limitation, the vesting provisions,
      acceleration of vesting or forfeiture waiver applicable to any Option) and
      the
      terms of the related Agreement; 

    

    (d) determining
      the conditions of the awarding of Dividend Equivalents; 

    

    (e) establishing
      Goals and fixing and adjusting the Goals;

    

    (f) interpreting
      the terms and provisions of the Plan;

     

    (g) adopting,
      amending, and rescinding rules and regulations relating to the Plan;
      and

    

    (h) making
      all determinations necessary or advisable for the administration of the
      Plan.

    

    All
      decisions made by the Committee pursuant to the provisions of the Plan shall
      be
      final and binding on all persons, including the Companies, the Trustee, and
      the
      Plan's Participants.

    

    The
      Committee may also revise or adjust the vesting provisions (except that the
      Committee may not extend vesting beyond nine years), Goals and their levels
      applicable to a Performance Cycle, at any time to take into account, among
      other
      things, new Participants, promotions, transfers, terminations, changes in law
      and accounting and tax rules and to make such adjustments as the Committee
      deems
      necessary or appropriate to reflect the Companies' performances or the impact
      of
      extraordinary or unusual items, events, or circumstances or in order to avoid
      windfalls or hardships.

    

    The
      Company and/or the Committee may consult with legal counsel, who may be counsel
      for the Company or other counsel, with respect to its obligations and duties
      hereunder or with respect to any claim, action, or proceeding or any other
      matter.

    

    No
      member
      or agent of the Committee shall be personally liable for any action,
      determination, or interpretation made in good faith with respect to the Plan
      or
      grants made hereunder, and all members and agents of the Committee shall be
      fully protected by the Company in respect of any such action, determination,
      or
      interpretation.

    

    The
      Committee's determination under the Plan, including without limitation,
      determinations as to the Participants to receive grants, the terms and
      provisions of such grants and the Agreement(s) evidencing the same, need not
      be
      uniform and may be made by it selectively among the Eligible Employees who
      receive or are eligible to receive grants under the Plan, whether or not such
      Eligible Employees are similarly situated.

    

    IV. General
      Plan Description

    

    A. Overview
      

    
      	 	
              The
                Plan provides for each Participant to (a) receive grant(s) of Stock
                Options, (b) have the opportunity to earn dividend equivalents, and
                (c)
                have the opportunity to achieve accelerated vesting of Stock Options
                and
                receive additional grants of Stock Options based upon the achievement
                of
                Goals established by the Committee over a designated Performance
                Cycle.

            

      	 	 

    

    B. Eligibility

    
      	 	
              On
                or after the Effective Date, subject to the provisions of the Plan,
                the
                Committee shall, from time to time, select from eligible employees
                Participants to whom options are to be granted. At the time of selection,
                the Committee shall specify the terms and conditions of the Participant's
                grant of Options.

            

      	 	 

    

    C. Authorization

    
      	 	
              The
                total number of shares of Common Stock as to which Options may be
                granted
                may not exceed 2,513,701 shares; if any unexercised options lapse
                or
                terminate for any reason, the shares underlying the Options may be
                made
                subject to Options granted to other Participants. In the event of
                the
                declaration of a Common Stock dividend and/or Common Stock split,
                reclassification or analogous change in the capitalization or any
                distributions (other than regular cash dividends) to holders of record
                of
                Common Stock, an appropriate adjustment shall be made to the total
                number
                of shares as to which Options may be granted under the Plan to any
                Participant, to the number of shares subject to Options, and to the
                exercise price.

            

    

    
      	 	 

      	 	
              Shares
                of Common Stock delivered under this Plan may be authorized but unissued
                shares of Common Stock, treasury stock, shares of Common Stock purchased
                on the open market and held by the Trustee, or shares of Common Stock
                from
                the 1983 Key Employees' Stock Option
                Plan.

            

    

    

    D. Individual
      Limitations

    Subject
      to adjustment as provided in Section IV(C), the total number of shares of Common
      Stock with respect to which Options may be granted in any calendar year to
      any
      Covered Employee shall not exceed 225,000 shares, and the aggregate number
      of
      dividend equivalents that a Covered Employee may receive in any calendar year
      shall not exceed $2,250,000.

    

    E. Stock
      Options and Dividend Equivalents

    

    
      	 	
              (1)

            	
              Grants

            

    

    
      	 	
              Each
                Participant shall receive a grant of Options on
                the

            

    

    
      	 	
              date
                she or he becomes a Participant. The Committee shall determine the
                size of
                the grant to each Participant. Participants may receive subsequent
                grants
                of Options when and as directed by the
                Committee.

            

      	 	 

    

    
      	 	
              (2)

            	
              Exercise
                Price and Term

            

    

    
      	 	
              The
                exercise price for an Option granted under the Plan is the Fair Market
                Value of the Company's Common Stock on the date of the Option grant.
                An
                Option granted shall generally have a term of ten years commencing
                from
                the date of grant, subject to the provisions of Sections V and VI
                and to
                the general discretion of the Committee set forth in Section III.
                

            

      	 	 

    

    
      	 	
              (3)

            	
              Vesting
                and Accelerated Vesting
                Provisions

            

    

    
      	 	
              No
                Option may be exercised before it has vested. Generally Option grants
                have
                a vesting period (before accelerated vesting) of nine years subject
                to the
                provisions of Section VI and to the general discretion of the Committee
                set forth in Section III. The vesting period for all or a portion
                of
                Options granted to a Participant may be accelerated by the Committee
                subject to the achievement of Goals for a Performance Cycle.
                

            

      	 	 

    

    
      	 	
              (4)

            	
              Performance
                Cycle and Goals

            

    

    
      	 	
              The
                Committee shall fix the starting and ending dates of each Performance
                Cycle. The minimum term shall be six months; the maximum term shall
                be
                nine years. A Performance Cycle will be the time period used in assessing
                the performance of each of the Companies in comparison to the separate
                Goals established by the Committee for each of the Companies. Performance
                Cycles and Goals may vary for each of the
                Companies.

            

      	 	 

    

    
      	 	
              (5)

            	
              Subsequent
                Grants; Accelerated
                Vesting

            

    

    
      	 	
              Additional
                grants of Options may be made to Participants at any time. In
                particular, but not by way of limitation, additional grants of Options
                may
                be made to Participants at the beginning of a new Performance Cycle
                based
                upon the appropriate Companies' achievement of Goals and the results
                of
                accelerated vesting of all or a portion of previous grants. The Committee
                will have the authority to determine the size and terms of any new
                Option
                grant for each Participant.

            

      	 	 

    

    
      	 	
              (6)

            	
              Dividend
                Equivalents

            

    

    
      	 	
              At
                the beginning of each Performance Cycle, a Dividend Account (the
                "Dividend
                Account") shall be established for each Participant. If a dividend
                is
                declared by the Board on the Common Stock of the Company an equivalent
                amount shall be accrued in the Dividend Account of each Participant
                for
                each share of Common Stock underlying all unvested Options held by
                the
                Participant. At the end of each Performance Cycle the Committee in
                its
                sole discretion may award an amount between 0 percent and 200 percent
                of a
                Participant's Dividend Account based on whether the Goals established
                for
                that Performance Cycle were achieved. Any earned portion of a
                Participant's Dividend Account is paid in cash to that Participant
                at the
                end of each Performance Cycle at a date and time determined by the
                Committee. Any portion of a Participant's Dividend Account not awarded
                to
                the Participant by the Committee is forfeited. However, shares of
                Common
                Stock underlying unvested Options retain a dividend equivalent and
                a
                Participant can earn the value of these dividend equivalents in subsequent
                Performance Cycles.

            

      	 	 

    

    
      	 	
              (7)

            	
              Exercise
                of Options

            

    

    
      	 	
              As
                provided in paragraph (3) of this section, generally all Options
                granted
                to a Participant under the Plan shall vest on the ninth anniversary
                of the
                date of grant; provided, however, that if and to the extent the vesting
                of
                an Option is accelerated at the end of a Performance Cycle, the Option
                may
                thereafter be exercised to the extent that the Option has vested.
                Any
                vested Option may be exercised from time to time in part or as a
                whole, at
                the discretion of the Participant, from the date of vesting until
                termination of the Option; no Option shall be exercisable after its
                expiration date; subject in either case to the provisions set forth
                in
                Section V and to the general discretion of the Committee set forth
                in
                Section III.

            

      	 	 

    

    Options
      may be exercised by giving written notice of exercise as directed by the Company
      specifying the number of shares to be purchased. The notice shall be accompanied
      by provision for payment of the exercise price. Payment may be made in part
      or
      in full in cash or by tendering shares of Common Stock already owned by the
      Participant, based upon the Fair Market Value of the Common Stock on the date
      the Option is exercised, or through share withholding. Participants may also
      simultaneously exercise Options and sell the shares of Common Stock thereby
      acquired and use the proceeds from the sale as payment for the purchase price
      of
      the shares.  

    

    
      	 	
              (8)

            	
              Nonassignability
                of Options

            

    

    
      	 	
              Options
                granted may not be assigned, transferred, or pledged by the Participant
                other than by will or the laws of descent and distribution or pursuant
                to
                a domestic relations order. 

            

    

     

    V. Termination
      of Service

    

    A. Except
      as
      set forth below, upon any Termination of Service, unvested Options and any
      amounts accrued in a Participant’s Dividend Account shall be forfeited unless
      the Committee decides otherwise pursuant to Section III. If a Participant
      terminates employment with the Company pursuant to Section 5.01 of the Company’s
      Bylaws which provides for mandatory retirement for certain officers on their
      65th birthday (or terminates employment with a subsidiary of the Company
      pursuant to a similar subsidiary Bylaw provision) and the Participant’s 65th
      birthday occurs (i) during the first year of the then current Performance Cycle,
      all unvested Options and related Dividend Equivalents shall be forfeited; (ii)
      during the second year of the then current Performance Cycle, determination
      of
      whether the Goals have been met for the Performance Cycle will be made by the
      Committee at the end of the Performance Cycle, and to the extent met, the
      Options and related Dividend Equivalents will vest based on the percentile
      achieved, prorated based upon the number of full months elapsed from and
      including the month in which the current Performance Cycle began to and
      including the month in which the Participant’s 65th birthday occurs; and (iii)
      during the third year of the then current Performance Cycle, determination
      of
      whether the Goals have been met for the Performance Cycle will be made by the
      Committee at the end of the Performance Cycle, and to the extent met, the
      Options and related Dividend Equivalents will vest based on the percentile
      achieved (without proration). Options that are vested shall remain exercisable
      for the period specified in Section V.E. below. Options and related Dividend
      Equivalents that do not vest in accordance with the above provisions shall
      be
      forfeited.

    

    B. Death

    
      	 	
              If
                the Participant dies while still employed, then any vested Options,
                to the
                extent that they are then exercisable, may be fully exercised at
                any time
                within one (1) year (even if this extends the term of the Options)
                after
                the date of the Participant's death by the person designated in the
                Participant's last will and testament or by the personal representative
                of
                the Participant's estate. 

            

    

    

    C. Disability

    
      	 	
              If
                the Participant suffers Disability, then any vested Options, to the
                extent
                that they are then exercisable, may be fully exercised at any time
                within
                one (1) year (even if this extends the terms of the Options) after
                the
                date of Disability by the Participant or by a person qualified or
                authorized to act on behalf of the Participant.

            

    

    

    D. Cause

    
      	 	
              If
                a Participant's Termination of Service is for Cause, the right to
                exercise
                any vested Option shall terminate with such termination of employment.
                For
                this purpose, the determination of the Committee as to whether employment
                was terminated for Cause shall be
                final.

            

    

    

    
      	 	
              E.
                Other Termination of
                Service

            

    

    
      	 	
              Except
                as set forth in the next sentence, in the event of the Participant’s
                Termination of Service for reasons other than Death, Disability,
                or Cause,
                to the extent that any vested Options are then exercisable, the
                Participant shall be entitled to exercise the Options for the three
                (3)
                month period following such Termination of Service (even if this
                extends
                the term of the Options).

            

    

    

    
      	 	
              In
                the event of the Participant’s Termination of Service because of
                retirement at age 65 pursuant to Section 5.01 of the Company’s Bylaws, the
                Participant shall be entitled to exercise Options that have vested
                or do
                vest in accordance with Section V.A. above for the three (3) month
                period
                following the later of (i) the date of vesting of the Options and
                (ii) the
                date of such Termination of Service (even if this extends the term
                of the
                Options).

            

    

    

    VI. Change
      of Control

    

    Upon
      a
      Change of Control of the Company, all Options previously granted under the
      Plan
      shall become immediately vested and available for exercise. The value of the
      amounts accrued in the Participant's Dividend Account shall be paid in full
      at
      100 percent of the amount thereof to the Participant in cash upon the
      Change of Control.

    

    VII. Miscellaneous
      Provisions

    

    A. Unsecured
      General Creditor

    
      	 	
              Participants
                and their beneficiaries, heirs, successors, and assigns shall have
                no
                legal or equitable rights, interests, or other claims in any property
                or
                assets of the Company, nor shall they be beneficiaries of, or have
                any
                rights, claims, or interests in any specified assets of the Company.
                Any
                and all of the Company's assets shall be and remain general, unpledged,
                unrestricted assets of the Company. The Company's obligation under
                the
                Plan shall be that of an unfunded and unsecured promise of the Company
                to
                cause shares of Common Stock to be available or to pay benefits in
                the
                future. 

            

    

     

    B. No
      Contract of Employment

    
      	 	
              Nothing
                contained in this Plan nor any related Agreement nor any action taken
                in
                the administration of the Plan shall be construed as a contract of
                employment or as giving a Participant any right to be retained in
                the
                service of the Company.

            

    

    

    C. Withholding
      Taxes

    
      	 	
              No
                later than the date on which a Participant receives Common Stock
                with
                respect to any Option exercised or cash with respect to Dividend
                Equivalents awarded under the Plan, the Participant shall pay in
                cash to
                the Company or its delegate or make arrangements satisfactory to
                the
                Company regarding the payment of any federal, state, or local taxes
                required by law to be withheld with respect to any such amounts.
                The
                Participant may also make payment (i) by tendering shares of the
                Common
                Stock already owned by the Participant, based on the fair market
                value of
                the Common Stock on the date the tax is owed or (ii) by having such
                amounts withheld from the shares of the Common Stock otherwise
                distributable to him/her upon exercise of his/her Options. The obligations
                of the Company under the Plan shall be conditioned on such payment
                or
                arrangements. The Company or its delegate may deduct any taxes from
                any
                payment due to the Participant from the Company to the extent allowed
                by
                law.

            

    

     

    D. Ten
      Percent Limitation

    
      	 	
              No
                Option shall be granted under this Plan to a Participant if at the
                time
                the Option is granted the Participant shall own stock representing
                more
                than 10 percent of the combined voting power of all classes of voting
                stock of the Company. 

            

    

    

    E. Severability
      

    
      	 	
              In
                the event that any provision of the Plan or any related Agreement
                is held
                invalid, void or unenforceable, the same shall not affect, in any
                respect
                whatsoever, the validity of any other provision of the Plan or any
                related
                Agreement. 

            

    

    

    F. Inurement
      of Rights and Obligations

    
      	 	
              The
                rights and obligations under the Plan shall inure to the benefit
                of, and
                shall be binding upon the Company, its successors and assigns, and
                the
                Participants and their beneficiaries consistent with the terms of
                the
                Plan. 

            

    

    

    G. Amendments

    
      	 	
              The
                Board may at any time amend, suspend, or terminate the Plan including,
                without limitation, modifications to take into account and comply
                with any
                changes in applicable securities or federal income tax laws and
                regulations, or other applicable laws and regulations; provided,
                that no modification to the Plan shall increase the number of shares
                available under the Plan by more than 10 percent without approval
                of the
                holders of the Common Stock, except as otherwise permitted under
                Section
                IV.C; and provided
                further,
                that any such amendment, suspension, or termination must be prospective
                in
                that it may not deprive Participants of any Options or rights previously
                granted under the Plan whether vested or not, without consent of
                the
                Participant, except if required by statute or rules or regulations
                promulgated thereunder.

            

    

    H. Restrictions

    
      	 	
              Shares
                of Common Stock acquired by Participants pursuant to the exercise
                of
                Options granted under the Plan shall be subject to such restrictions
                on
                transferability and disposition as are required by federal and state
                security laws and such Participants shall not sell or transfer any
                shares
                acquired except in accordance with such
                laws.

            

    

    

    I. Legal
      and Other Requirements

    
      	 	
              The
                obligation of the Company to cause Common Stock to be available under
                the
                Plan shall be subject to all applicable laws, regulations, rules
                and
                approvals, including, but not limited to the receipt of any necessary
                approvals by state or federal regulatory bodies, and the effectiveness
                of
                a registration statement under the Securities Act of 1933 if deemed
                necessary or appropriate by the Company. Certificates for shares
                of Common
                Stock issued hereunder may be legended as the Committee shall deem
                appropriate.

            

    

    

    J. Agreements

    
      	 	
              Each
                grant of Options shall be evidenced by an Agreement which shall contain
                such restrictions, terms and conditions as the Committee may require.
                Notwithstanding anything to the contrary contained in the Plan, the
                Company shall not be under any obligation to honor any grants under
                the
                Plan to any Participant hereunder unless such Participant shall execute
                all appropriate Agreements with respect to such Options in such form
                as
                the Committee may determine from time to
                time.

            

    

    

    K. Applicable
      Law

    
      	 	
              The
                Plan and any related Agreements shall be governed in accordance with
                the
                laws of the State of North Dakota.

            

    

    

    VIII.
      Establishment of Trust

    

    The
      Company may establish with the Trustee a trust consisting of such sums of money
      or other property acceptable to the Trustee as shall from time to time be paid
      or delivered to the Trustee, all investments made therewith and proceeds thereof
      and all earnings and profits thereon. The Trustee shall invest funds, if any,
      advanced by the Company in shares of Common Stock. Upon the exercise of an
      Option by a Participant, the Trustee shall take Common Stock from the trust
      or
      shall purchase Common Stock on the open market or from the Company and deliver
      certificates for such shares to the Participant.

    The
      Company shall have the right at any time to terminate the trust but such
      termination shall not affect the rights of any Participant to whom an Option
      has
      been granted under the Plan. After effecting all purchases and transfers of
      Common Stock as are required by the Plan pursuant to the exercise of Options
      by
      Participants, the Trustee shall be relieved of all further liability.
      Termination of the trust shall take effect as of the date
      the
      last such transfer is made. Upon such termination any assets remaining in the
      trust shall be returned to the Company unless other directions are given to
      the
      Trustee by the Company.Supplemental Income Security Plan

     

    

    MDU
      RESOURCES GROUP, INC.

    

    SUPPLEMENTAL
      INCOME SECURITY PLAN

    

    (As
      Amended and Restated Effective as of November 16,
      2006)

    
      
        
        

      

      
        
        

        
        

      

      
        
        

      

    

    TABLE
      OF CONTENTS

    

     

    

    INTRODUCTION

    

    ARTICLE
      I
      - DEFINITIONS

    

    ARTICLE
      II -- ELIGIBILITY

    

    ARTICLE
      III -- SUPPLEMENTAL DEATH AND RETIREMENT BENEFITS

    

    ARTICLE
      IV -- REPLACEMENT RETIREMENT BENEFITS

    

    ARTICLE
      V
      -- DISABILITY BENEFITS

    

    ARTICLE
      VI -- MISCELLANEOUS

    

    ARTICLE
      VII -- ADDITIONAL AFFILIATE COMPANIES 

    

    APPENDIX
      A - SCHEDULE OF RETIREMENT AND SURVIVORS BENEFITS

    

    APPENDIX
      B - CURRENT PARTICIPANTS ELIGIBLE FOR ARTICLE IV BENEFITS 

    

    

    INTRODUCTION

    

    The
      objective of the MDU Resources Group, Inc. Supplemental Income Security Plan
      (the "Plan") is to provide certain levels of death benefits and retirement
      income for a select group of management or highly compensated employees and
      their families. Eligibility for participation in this Plan shall be limited
      to
      management or highly compensated employees who are selected by the MDU Resources
      Group, Inc. ("Company") Board of Director’s Compensation Committee
      (“Compensation Committee”) upon recommendation of the Chief Executive Officer of
      the Company (“CEO”) . This Plan became effective January 1, 1982, has been
      amended from time to time thereafter, and most recently has been amended and
      restated effective as of November 16, 2006.

    The
      Plan
      is intended to constitute an unfunded deferred compensation plan maintained
      by
      the Company primarily for the purpose of providing non-elective deferred
      compensation for a select group of management or highly compensated
      employees.

     

    ARTICLE
      I -- DEFINITIONS

     

    Unless
      a
      different meaning is plainly implied by the context, the following terms as
      used
      in this Plan shall have the following meanings:

    1.1  "Administrator"
      means
      the Compensation Committee or any other person to whom the Compensation
      Committee has delegated the authority to administer the Plan. The Vice President
      - Human Resources of the Company is initially delegated the authority to perform
      the administrative responsibilities required under the Plan.

    1.2  "Affiliated
      Company"
      means
      any current or future corporation which (a) is in a controlled group of
      corporations (within the meaning of Section 414(b) of the Code) of which the
      Company is a member and (b) has been approved by the Compensation Committee
      upon
      recommendation of the Chief Executive Officer to adopt the Plan for the benefit
      of its Employees.

    1.3  "Beneficiary"
      means
      an individual or individuals, any entity or entities (including corporations,
      partnerships, estates or trusts) that shall be entitled to receive benefits
      payable pursuant to the provisions of this Plan by virtue of a Participant's
      death; provided, however, that if more than one such person is designated as
      a
      Beneficiary hereunder, each such person's proportionate share of the death
      benefit hereunder must clearly be set forth in a written statement of the
      Participant received by and filed with the Administrator prior to the
      Participant's death. If such proportionate share for each Beneficiary is not
      set
      forth in the designation, each Beneficiary shall receive an equal share of
      the
      death benefits provided hereunder.

    1.4  "Company"
      means
      MDU Resources Group, Inc., and its successors, if any.

    1.5  "Effective
      Date"
      of the
      Plan means January 1, 1982. The Effective Date of this amendment and restatement
      of the Plan is November 16, 2006.

    1.6  "Eligible
      Retirement Date"
      means
      the First Eligible Retirement Date and the last day of each subsequent calendar
      month.

    1.7  "Employee"
      means
      each person actively employed by an Employer, as determined by such Employer
      in
      accordance with its practices and procedures.

    1.8  "Employer"
      means
      the Company and any Affiliated Company which shall adopt this Plan with respect
      to its Employees with the prior approval of the Company as set forth in Article
      7 of the Plan.

    1.9  “ERISA”
means
      the Employee Retirement Income Security Act of 1974, as amended.

    1.10  "First
      Eligible Retirement Date"
      for a
      Participant means the last day of the month during which such Participant is
      both no longer actively employed by the Employer and has attained at least
      age
      65. For a Key Employee whose employment ceases (for reasons other than death)
      within six months of becoming age 65 or any time thereafter, the First Eligible
      Retirement Date that applies to the Monthly Post-Jobs Act Benefit will be six
      months after the last day of the month during which such Key Employee is both
      no
      longer actively employed by the Employer and has attained at least age 65.
      

    1.11  “Key
      Employee”
is
      a
      Participant who is an officer of the Employer, as listed by the Company’s Legal
      department on the “Corporate Data Sheet Report”, as of December 31 of the year
      immediately preceding the Participant’s separation with the Employer for any
      reason other than death. 

    1.12  "Limitation
      on Benefits"
      shall
      mean the statutory limitation on the maximum benefit that may be payable to
      participants under a Pension Plan due to the application of certain provisions
      contained in the Code.

    1.13  “Monthly
      Post-Jobs Act Benefit”
is
      the
      Participant’s total monthly benefit specified in 3.1, minus the Monthly Pre-Jobs
      Act Benefit.

    1.14  “Monthly
      Pre-Jobs Act Benefit”
is
      the
      Participant’s total monthly vested benefit specified in 3.3(a), 3.3(b) or
      3.3(c), if any, as of December 31, 2004.

    1.15  "Participant"
      means a
      present or former management or highly compensated Employee selected by the
      Compensation Committee upon recommendation of the Chief Executive Officer of
      the
      Company to receive benefits under this Plan. An Employee will become a
      Participant at the time such Employee commences participation hereunder pursuant
      to the provisions of Section 2.1 hereof.

    1.16  "Pension
      Plan"
      means
      the MDU Resources Group, Inc. Pension Plan for Non-Bargaining Unit Employees,
      the Williston Basin Interstate Pipeline Company Pension Plan, or the Knife
      River
      Corporation Salaried Employees' Pension Plan, as in effect on the Effective
      Date
      and as amended from time to time.

    1.17  "Plan"
      means
      the MDU Resources Group, Inc. Supplemental Income Security Plan, as embodied
      herein, and any amendments thereto.

    1.18  "Plan
      Year"
      means
      the calendar year. The first Plan Year for this Plan shall be the 1982 calendar
      year.

    1.19  "Salary"
      means
      annual base earnings payable by an Employer to a Participant excluding (a)
      bonuses, (b) incentive compensation, and (c) any other form of supplemental
      income.

    1.20  "Standard
      Actuarial Factors"
      means,
      with respect to a Participant, the actuarial factors and assumptions commonly
      used for the calculation of actuarial equivalents for retirement plans as
      determined by the Administrator.

    1.21  "Standard
      Life Insurance"
      means
      life insurance that could be purchased from a commercial life insurance company
      at standard rates without a surcharge assessed, based on an individual's general
      good health.

    1.22  "Standard
      Underwriting Factors"
      means
      life insurance rating factors utilized by a commercial life insurance company
      selected by the Administrator which are based on the risk assessment
      classifications utilized by such insurer to determine if an applicant qualifies
      for insurance at standard rates or if health or other factors might require
      a
      surcharge.

    1.23  "Year
      of Participation"
      means
      each 12 consecutive months of participation in the Plan by a Participant while
      actively employed by one or more of the Employers (including while such
      Participant is qualified as totally disabled as defined in Article V), as
      determined at the sole discretion of the Administrator.

     

    ARTICLE
      II -- ELIGIBILITY

     

    2.1  Eligibility
      for Participation.
      The
      Compensation Committee upon recommendation of the Chief Executive Officer shall
      determine which management or highly compensated Employees may be eligible
      to
      participate in the Plan. Effective after January 1, 2005, general criteria
      for
      initial consideration of an Employee include, but are not limited to, the
      following: (a) either an officer or a management employee of an Employer earning
      an annual base salary of $150,000 or more, indexed in a manner described below;
      (b) an executive who makes a significant contribution to the Company's success
      and profitability; and (c) an executive in a business unit where benefits of
      this nature are a common practice, or there is a specific need to recruit and
      retain key executives. Each Employee who is selected as eligible to participate
      hereunder and who meets the requirements for participation set forth under
      Section 2.2 hereof shall commence participation of the first day of the month
      coincident with or next following the date of such Employee's selection. The
      annual base salary threshold of $150,000 will be indexed each year after 2005
      by
      the Administrator according to the average salary growth assumptions used in
      the
      Pension Plans, or other appropriate executive salary growth reference. In
      addition to the annual indexing, the Administrator will, from time to time,
      compare the annual base salary threshold to competitive practice and recommend
      adjustments accordingly to the Compensation Committee.

    2.2  Requirements
      for Participation.
      In
      order to be eligible to participate in the Plan, an Employee selected by the
      Compensation Committee must (a) be actively at work for one or more of the
      Employers; (b) have a current state of health and physical condition that would
      satisfy customary requirements for insurability under Standard Life Insurance;
      provided, however, that no provision of this Plan shall be construed or
      interpreted to limit participation in the Plan in contravention of the Americans
      With Disabilities Act and related federal and state laws; and (c) consent to
      supply information or to otherwise cooperate as necessary to allow the Company
      to obtain life insurance on behalf of such Employee (as set forth under Section
      6.3 of the Plan).

    2.3  Eligibility
      for Benefits.
      Subject
      to the provisions of Article III, Plan benefits may commence as of the earlier
      to occur of (a) the first day of the month following the date of the
      Participant's death or (b) the Participant's First Eligible Retirement Date
      if
      the Participant elects to receive retirement benefits under Article III hereof.
      

    2.4  Relationship
      to Other Plans.
      Participation in the Plan shall not preclude or limit the participation of
      the
      Participant in any other benefit plan sponsored by one or more of the Employers
      for which such Participant otherwise would be eligible. However, any benefits
      payable under this Plan shall not be deemed salary or compensation to the
      Participant for purposes of determining benefits under any other employee
      benefit plan maintained by one or more of the Employers.

    2.5  Forfeiture
      of Benefits.
      Notwithstanding any provision of this Plan to the contrary, if any Participant
      is discharged from employment by one or more of the Employers for cause due
      to
      willful misconduct, dishonesty, or conviction of a crime or felony, all as
      determined at the sole discretion of the Compensation Committee, the rights
      of
      such Participant (or any Beneficiary of such Participant) to any present or
      future benefit under this Plan shall be forfeited to the extent not prohibited
      by applicable law.

     

    ARTICLE
      III -- SUPPLEMENTAL DEATH AND RETIREMENT BENEFITS

     

    3.1  Amount
      of Benefit.
      

    (a)
      Subject to the provisions of Section 3.3 or 3.4 of the Plan, the monthly
      supplemental death and/or retirement benefits payable on behalf of (or to)
      a
      Participant as of such Participant's date of death (or First Eligible Retirement
      Date) will be an amount determined by the Compensation Committee upon
      recommendation of the Chief Executive Officer at the time of the Participant's
      commencement of participation in the Plan, and may be increased from time to
      time thereafter by the Compensation Committee upon recommendation of the Chief
      Executive Officer. Subject to the discretion of the Compensation Committee
      upon
      recommendation of the Chief Executive Officer, a Participant shall generally
      be
      entitled to have a monthly supplemental death benefit paid on such Participant's
      behalf (or be entitled to receive a monthly supplemental retirement benefit)
      equal to the monthly death benefit or monthly retirement benefit (as applicable)
      corresponding to the Participant's Salary in effect at the date such initial
      or
      revised benefit determination is to be effective, all as set forth in the
      applicable Appendix A hereto. Increases in Salary do not automatically result
      in
      increases to a Participant's level of benefits. Without limiting the scope
      of
      the immediately preceding sentence, it is intended that increases to a
      Participant’s benefit level after commencement of participation in the Plan will
      be made only to the extent the Participant’s current compensation exceeds the
      then current annual base salary threshold determined pursuant to Section 2.1
      as
      a general criterion for eligibility. 

    (b)  Participants
      who died, terminated employment with, or retired from, the Employers prior
      to
      January 1, 2002, will receive benefits hereunder in accordance with the terms
      of
      the Plan as in effect at the time of the Participant's death, termination of
      employment or retirement from the Employers.

    (c)  The
      benefit amounts determined by the Compensation Committee upon recommendation
      of
      the Chief Executive Officer pursuant to Section 3.1(a) above are based on the
      assumption that each Participant's health and physical condition at the time
      of
      such Participant's commencement of participation in the Plan meets customary
      requirements for Standard Life Insurance. Benefits under the Plan may be reduced
      by the Compensation Committee upon recommendation of the Chief Executive Officer
      within a reasonable period following the establishment of such benefit level
      in
      accordance with Standard Underwriting Factors, but only with respect to that
      portion of the monthly death or retirement benefit for which the criteria for
      health and physical condition are not met. Participants will be notified of
      any
      such reduction within a reasonable period following participation in the Plan.
      Once benefits have been reduced under this Section 3.1, such benefits shall
      not
      be further reduced for the remainder of the Participant's participation in
      the
      Plan.

    (d)  Participants
      who die while actively employed will be considered to be 100% vested for the
      death benefit, and not subject to the vesting schedule. However, once the
      participant is no longer actively employed (e.g. resignation, termination,
      disability, etc.) Section 3.2 applies.

    3.2  Vesting.
      If a
      Participant retires or terminates employment with an Employer before the
      Participant completes at least 10 years of Participation, the monthly death
      and/or retirement benefits to which such Participant otherwise would be entitled
      under the terms of Section 3.1 hereof shall vest as follows:

     

    
      
        	
                Vesting
                  Schedule

              
	 	 
	
                Years
                  of Participation

                Completed
                  by the Participant

              	
                Percent
                  of Section

                3.1
                  Benefits Payable

              
	 	 
	
                1

              	
                0%

              
	
                2

              	
                0%

              
	
                3

              	
                20%

              
	
                4

              	
                40%

              
	
                5

              	
                50%

              
	
                6

              	
                60%

              
	
                7

              	
                70%

              
	
                8

              	
                80%

              
	
                9

              	
                90%

              
	
                10

              	
                100%

              

      

    

     

    3.3  Participant’s
      Election of Monthly Pre-Jobs Act Benefit .
      Upon
      attainment of age 65 or, as of such Participant's First Eligible Retirement
      Date
      (if later), a Participant will be entitled to determine the form of benefit
      payable under subsection (a) hereof, and the date of commencement of such
      benefits, subject to the approval of the Administrator, in accordance with
      the
      terms of the Plan. The Participant may elect:

    (a)
      to
      defer any payments and retain a future monthly
      death benefit
      in
      amounts determined pursuant to Section 3.1 hereof, multiplied by the appropriate
      percentage amount set forth in section 3.2, or 

    (b)
      in
      lieu of any death benefits under this Plan, a
      monthly retirement benefit
      determined in accordance with Section 3.1, multiplied by the appropriate
      percentage amount set forth in Section 3.2, with no death benefit,
      or

    (c)
      a
      percentage of each benefit
      described in subsections (a and b) above. The percentage of each benefit must
      be
      in even increments of ten percent (10%).

    (i)
      If a
      Participant has elected to receive less than one hundred percent (100%) of
      such
      Participant's monthly retirement benefit (e.g. 50%), the Participant may
      subsequently elect to begin receiving an additional percentage retirement
      benefit (e.g. another 20%.) There may be no more than two (2) such additions
      during the Participant's lifetime, and no more than one (1) such addition during
      any calendar year. 

    (ii)
      Any
      such addition in retirement benefit payments will result in an equal percentage
      reduction in death benefits, to the percentage change in retirement benefit.
      

    (iii)
      Once retirement benefit payments have started, Participants shall not be
      entitled to subsequently decrease retirement benefit payments.

    (d)
      Elections under this Section 3.3 must be communicated in writing to the
      Administrator and will be effective as of the first day of the first month
      following the Administrator's receipt and the approval of such request by the
      Chief Executive Officer.

    3.4  Participant’s
      Election of Monthly Post-Jobs Act Benefit. Upon
      attainment of age 65, or as of such Participant’s First Eligible Retirement Date
      (if later), the Participant’s Monthly Post-Jobs Act Benefit will automatically
      be designated as a retirement benefit. A Participant may, however, make a
      one-time written election to avoid the automatic designation of the Monthly
      Post-Jobs Act Benefit as a retirement benefit, and instead designate such
      benefit as a death benefit (or a combination of retirement and death benefit).
      The written election must be made by the Participant on or before the
      Participant reaches age 64, and once the written election is made it may not
      be
      changed. Should a Participant elect a retirement benefit and subsequently die
      before they turn 65 years old, the Monthly Post-Jobs Act Benefit will revert
      to
      a death benefit. Should a Participant who is a Key Employee elect a retirement
      benefit and subsequently die before their First Eligible Retirement Date, the
      Monthly Post-Jobs Act Benefit will revert to a death benefit.

    3.5  Payment
      of Monthly Benefits.
      

    (a)
      Death
      Benefits.
      Any
      death benefits payable with respect to a Participant pursuant to Sections
      3.3(a)(b) or (c) or Section 3.4 shall commence on the first day of the calendar
      month following the date of the Participant's death and shall be payable in
      monthly installments for a period of 180 months.

    (b)  Retirement
      Benefit for the Monthly Pre-Jobs Act Benefit.
      The
      Monthly Pre-Jobs Act Benefit elected as retirement benefits payable under this
      Plan shall commence on the Eligible Retirement Date selected by the Participant
      (upon 30 day's written notice to the Administrator) and will be payable to
      such
      Participant in monthly installments for a period of 180 months. In the event
      the
      Participant dies prior to the completion of such 180-month period, the balance
      of such retirement benefits shall be paid to the Participant's Beneficiary
      at
      such times and in such amounts as if the Participant had not died, such payment
      being made in addition to any death benefits payable under Sections 3.3(a)
      hereof. To the extent a Participant elects to commence receiving increased
      retirement benefits pursuant to Section 3.3(c) (i), the amount of increase
      of
      retirement benefits shall be in the form of a monthly benefit payable for a
      separate 180-month period.

    (c)  Retirement
      Benefit for the Monthly Post-Jobs Act Benefit.
      Unless
      the Participant elects in writing to receive the Monthly Post-Jobs Act Benefit
      in the form of a monthly death benefit (as specified in 3.4), the Monthly
      Post-Jobs Act Benefit will take the form of a retirement payment and will be
      payable as follows:

    
      	(i)  	
              to
                a Key Employee, payments will begin the later of (I) the First Eligible
                Retirement Date, or (II) six months after the last day of the month
                during
                which such Key Employee is both no longer actively employed by the
                Employer and has attained at least age 65. If such payments begin
                on (c)
                (i) (II), the first monthly payment to the Key Employee will include
                a
                total of seven months’ payments. Also, such first monthly payment will
                include an interest credit on the first six months’ payments equivalent to
                one-half of the annual prime interest rate contained in the Wall
                Street Journal
                on
                the last business day immediately prior to payment. Payments to the
                Key
                Employee will last 173 months. Should the Key Employee die prior
                to the
                completion of the 173 month period, the balance of such retirement
                benefits shall be paid to the Participant's Beneficiary at such times
                and
                in such amounts as if the Participant had not died, such payment
                being
                made in addition to any death benefits payable under Sections 3.3(a)
                hereof.

            

    

    
      	(ii)  	
              to
                a Participant who is not a Key Employee, payments will begin on the
                First
                Eligible Retirement Date and be payable to such Participant in monthly
                installments for a period of 180 months. In the event the Participant
                dies
                prior to the completion of such 180-month period, the balance of
                such
                retirement benefits shall be paid to the Participant's Beneficiary
                at such
                times and in such amounts as if the Participant had not died, such
                payment
                being made in addition to any death benefits payable under Sections
                3.3(a).

            

    

    (d)  Actuarial
      Equivalent Alternative Forms for the Monthly Pre-Jobs Act
      Benefit.
      The
      normal form of retirement benefit for the Monthly Pre-Jobs Act Benefit to which
      a Participant shall be entitled shall be determined under paragraph 3.4(b).
      Alternatively, a participant may elect to receive their Monthly Pre-Jobs Act
      Benefit in the form of a retirement benefit in one of the following actuarially
      equivalent forms (as determined by the Administrator), provided however that
      each alternative form shall also be payable for a certain period of 180 months:
      (i) the lifetime of the Participant; (ii) the lifetime of the Participant with
      the same amount payable to the Participant continued thereafter for the lifetime
      of the Participant’s spouse; or (iii) the lifetime of the Participant with 67%
      of the amount payable to the Participant continued thereafter for the lifetime
      of the Participant’s spouse. However, in no event will the Company incur more
      costs in providing the actuarial equivalent alternative form to the Participant
      than it would otherwise incur in providing the normal form of retirement
      benefit. Applying the discount rate used by the Company to calculate the FAS
      87
      expense, the present value of the Participant’s retirement benefit will be
      calculated by the Administrator. The Administrator will then purchase an annuity
      at a cost no greater than the present value of the retirement
      benefit. 

    (e)  Actuarial
      Equivalent Alternative Forms for the Monthly Post-Jobs Act
      Benefit.
      There
      are no Actuarial Equivalent Alternative Forms relating to the Monthly Post-Jobs
      Act Benefit.

    (f)  Single
      Sum Payment.
      Notwithstanding the provisions of subsections (a), (b) and (c) of this Section
      3.5, the Administrator reserves the right to pay the Monthly Pre-Jobs Act
      Benefit in the form of an actuarially equivalent single sum (as determined
      by
      the Administrator) when retirement or death benefits are payable due to
      termination of employment, excluding disability, or death prior to the
      Participant's attainment of age 55, or upon the death of the Participant and
      the
      primary beneficiary(ies). The Single Sum Payment will not apply to the Monthly
      Post-Jobs Act Benefits. 

    3.6  Exclusions
      and Limitations.
      (a)No
      death
      benefits will be payable with respect to a Participant in the event of such
      Participant's death by suicide within two (2) years after commencement of
      participation in the Plan, and no benefit increase will apply in the event
      of
      any such Participant's death by suicide within two (2) years after such
      Participant becomes eligible for an increase in death benefits.

    (b)  In
      the
      event that a Participant misrepresents any health or physical condition at
      the
      time of commencement of participation in the Plan or at the time of a retirement
      or death benefit increase, no retirement or death benefit or retirement or
      death
      benefit increase will be payable under the Plan within two (2) years of such
      misrepresentation.

    3.7  Death
      of a Beneficiary.
      (a)In
      the
      event any Beneficiary predeceases the Participant, is not in existence, is
      not
      ascertainable, or is not locatable (see Section 6.11) as of the date benefits
      under the Plan become payable to such Beneficiary, Plan benefits shall be paid
      to such contingent Beneficiary or Beneficiaries as shall have been named by
      the
      Participant on the Participant's most recent Beneficiary election form that
      has
      been received and filed with the Administrator prior to the Participant's death.
      If no contingent Beneficiary has been named, the contingent Beneficiary shall
      be
      the Participant's estate.

    (b)  In
      the
      event any Beneficiary dies after commencing to receive monthly benefits under
      the Plan but prior to the payment of all monthly benefits to which such
      Beneficiary is entitled, remaining benefits shall be paid to a beneficiary
      designated by the deceased Beneficiary (the "Secondary Beneficiary"), provided
      such designation has been received and filed with the Administrator prior to
      the
      death of the Beneficiary. If no such person has been designated by the deceased
      Beneficiary, the Secondary Beneficiary shall be the estate of the Beneficiary.
      In the event the Secondary Beneficiary shall die prior to the payment of all
      benefits to which such Secondary Beneficiary is entitled, the remainder of
      such
      payments shall be made to such Secondary Beneficiary's estate. If the
      Administrator is in doubt as to the right of any person to receive benefits
      under the Plan, the Administrator may retain such amount, without liability
      for
      any interest thereon, until the rights thereto are determined, or the
      Administrator may pay a single sum amount in accordance with Section 3.5 (f)
      into any court of competent jurisdiction and such payment shall be a complete
      discharge of the liability of the Plan and the Employer.

    3.8 Discretion
      As To Benefit Amount.
      Notwithstanding the foregoing, the Compensation Committee upon recommendation
      of
      the Chief Executive Officer of the Company may, with full and complete
      discretion, disregard Standard Underwriting Factors and customary requirements
      for Standard Life Insurance in establishing and/or increasing the amount of
      any
      Participant's retirement or death benefit under the Plan.

    3.9 Suspension
      of Benefits Upon Reemployment.
      Employment with any Employer subsequent to the commencement of Pre-Jobs Act
      benefits under this Article III may, at the sole discretion of the Compensation
      Committee upon recommendation of the Chief Executive Officer of the Company,
      result in the suspension of Pre-Jobs Act benefits for the period of such
      employment or reemployment.

     

    ARTICLE
      IV -- REPLACEMENT RETIREMENT BENEFITS

     

    4.1  Participation.
      Benefits under this Article IV shall be payable only to those Participants
      whose
      benefits, under a Pension Plan under which they otherwise participate, are
      reduced or limited by reason of the Limitation on Benefits. Except for those
      Participants listed on Appendix B, benefits under Article IV are limited to
      Participants who retire or terminate from the Employer no earlier than the
      age
      at which there is no Pension Plan benefit reduction due to early retirement.
      Participants listed on Appendix B shall be eligible to receive benefits under
      Article IV if they begin receiving benefits under a Pension Plan at any time
      prior to age 65. Benefits under this Article IV (a) shall be payable only for
      such period that the benefits under the Pension Plan are actually reduced or
      limited and (b) shall terminate as of the last day of the month immediately
      preceding the month during which occurs the Participant's sixty-fifth
      (65th)
      birthday. Should the Participant die before their sixty-fifth (65th)
      birthday, and they had elected a joint and survivor form of payment (specified
      in 4.2 (c)), their surviving spouse will receive Article IV benefit payments
      until the date the Participant would have turned 65 years old. Furthermore,
      benefits under this Article IV also shall be payable only to those Participants
      who are active Employees on or after January 1, 1997.

    4.2  Amount
      and Method of Payment.
      

    (a)Amount
      of Benefit.
      The
      amount, if any, of the monthly benefit payable to or on account of a Participant
      pursuant to this Article IV shall equal the difference of (i) minus (ii)
      where:

    
      	(i)  	
              equals
                the amount of monthly retirement benefits which would be provided
                to the
                Participant under the Pension Plan without regard to the Limitation
                of
                Benefits; and

            

    

    
      	(ii)  	
              equals
                the amount of monthly retirement benefits payable to such Participant
                under the Pension Plan due to the application of the Limitation on
                Benefits;

            

    

    provided,
      however, that no benefits shall be payable to a Participant under this Article
      IV unless the amount of such monthly benefit is at least fifty dollars ($50).
      The benefit amount provided under this Section 4.2(a) shall be determined with
      reference to the form of benefit determined under section 4.2(c) hereof and
      shall be calculated in accordance with the Standard Actuarial Factors utilized
      under the Pension Plan.

    (b)  Vesting.
      A
      Participant shall be vested in benefits under this Article IV to the same extent
      as such Participant is vested in benefits under the applicable Pension
      Plan.

    (c)  Payment
      of Benefit.
      The
      benefits provided under this Article IV shall be paid to each such Participant,
      surviving spouse (as defined under the applicable Pension Plan) or joint
      annuitant (as defined under the applicable Pension Plan). Benefits due the
      Participant under Article IV will commence automatically upon separation of
      employment from the Employer regardless of the Participant’s timing of payment
      under the applicable Pension Plan, unless the Participant is a Key Employee,
      in
      which case Article IV payments will commence seven months after separation
      of
      employment from the Employer. If the Participant is a Key Employee, the payments
      otherwise due them in months one through six will be paid cumulatively on the
      seventh month after separation of employment. Also, the payment on the seventh
      month will include an interest credit on the first six months’ payments
      equivalent to one-half of the annual prime interest rate contained in the
Wall
      Street Journal
      on the
      last business day immediately prior to payment. A Participant is limited to
      receiving Article IV as either a single life annuity (i.e., the lifetime of
      the
      Participant) or a qualified joint and survivor annuity (i.e., the lifetime
      of
      the Participant with the same amount payable to the Participant continued
      thereafter for the lifetime of the Participant’s spouse). Notwithstanding the
      ability for the Participant to receive a lump-sum payment for their pension
      benefit under the applicable Pension Plan, there is no lump-sum payment
      available to Article IV benefits. Payments shall be made in accordance with,
      and
      subject to, the terms and conditions of the applicable Pension Plan; provided,
      however, that no spousal consent shall be required to commence any form of
      payment under this Article IV.

    (d)  Commencement
      and Duration of Payments.
      Subject
      to Section 4.2(c), benefits provided under this Article IV shall commence
      automatically when the Participant becomes eligible for Article IV benefits,
      without regard to payment under any Pension Plan, and shall continue to age
      65
      or the death of the Participant, if prior to age 65, and, if applicable, in
      reduced amount until the death of the Participant's spouse or joint annuitant,
      whichever is applicable.

    (e)  Necessity
      of Actual Reduction.
      Notwithstanding any other provision of this Plan, no amount shall be payable
      under this Article IV unless the Participant's monthly benefit paid under the
      applicable Pension Plan is actually reduced because of application of the
      Limitation on Benefits. Benefits payable to a Participant under this Article
      IV
      shall not duplicate benefits payable to such Participant from any other plan
      or
      arrangement of the Company. In the event a change in law or regulation
      liberalizes the limitations applicable to determining the Limitation on Benefits
      such that a Participant may receive additional benefits under the applicable
      Pension Plan, and the applicable Pension Plan provides for the payment of such
      additional benefits to the Participant, the amount payable under this Article
      IV
      shall be reduced by a corresponding amount.

     

    ARTICLE
      V -- DISABILITY BENEFITS

     

    5.1  Monthly
      Disability Benefit.
      

    (a)  If
      a
      Participant becomes totally disabled following commencement of participation
      in
      the Plan, the Participant shall continue to receive credit for up to two (2)
      years of Participation under the Plan for so long as the Participant is totally
      disabled. Following termination of the participant's employment with the
      Employer, the Participant's monthly retirement benefits under Article III of
      the
      Plan shall commence beginning on or after the Participant's First Eligible
      Retirement Date.

    (b)  A
      Participant is "totally disabled" if such Participant is disabled within the
      meaning of the applicable long-term disability plan sponsored by such
      Participant's Employer, or as determined by Social Security.

    (c)  If
      a
      Participant who is totally disabled dies before attaining age 65, any death
      benefit payable to the Participant's Beneficiary will be determined and paid
      in
      accordance with the vesting schedule terms of Article III.

     

    ARTICLE
      VI - MISCELLANEOUS

     

    6.1  Amendment
      and Termination.
      Any
      action to amend, modify, suspend or terminate the Plan may be taken at any
      time,
      and from time to time, by resolution of the Board of Directors of the Company
      (or any person or persons duly authorized by resolution of the Board of
      Directors of the Company to take such action) in its sole discretion and without
      the consent of any Participant or Beneficiary, but no such action shall
      retroactively reduce any benefits accrued by any Participant under this Plan
      prior to the time of such action.

    6.2  No
      Guarantee of Employment.
      Nothing
      contained herein shall be construed as a contract of employment between a
      Participant and any Employer or shall be deemed to give any Participant the
      right to be retained in the employ of any Employer.

    6.3  Funding
      of Plan and Benefit Payments.
      This
      Plan is unfunded within the meaning of ERISA. Each Employer will make Plan
      benefit payments from its general assets. Each Employer may purchase policies
      of
      life insurance on the lives of Plan Participants and to refuse participation
      in
      the Plan to any Employee who, if requested to do so, declines to supply
      information or to otherwise cooperate so that the Employer may obtain life
      insurance on behalf of such Participant. The Employer will be the owner and
      the
      beneficiary of any such policy, and Plan benefits will be neither limited to
      nor
      secured by any such policy or its proceeds. Participants and their Beneficiaries
      shall have no right, title or interest in any such life insurance policies,
      in
      any other assets of any Employer or in any investments any Employer may make
      to
      assist it in meeting its obligations under the Plan. All such assets shall
      be
      solely the property of such Employer and shall be subject to the claims of
      such
      Employer's general creditors. There are no assets of any Employer that are
      identified or segregated for purposes of the payment of any benefits under
      this
      Plan. To the extent a Participant or any other person acquires a right to
      receive payments from an Employer under the Plan, such right shall be no greater
      than the right of any unsecured general creditor of such Employer and such
      person shall have only the unsecured promise of the Employer that such payments
      shall be made.

    6.4  Payment
      Not Assignable.
      Except
      in the case of a Qualified Domestic Relations Order described under Code Section
      414(p), Participants and their Beneficiaries shall not have the right to
      alienate, anticipate, commute, sell, assign, transfer, pledge, encumber or
      otherwise convey the right to receive any payments under the Plan, and any
      payments under the Plan or rights thereto shall not be subject to the debts,
      liabilities, contracts, engagements or torts of Participants or their
      Beneficiaries nor to attachment, garnishment or execution, nor shall they be
      transferable by operation of law in the event of bankruptcy or insolvency.
      Any
      attempt, whether voluntary or involuntary, to effect any such action shall
      be
      null, void and of no effect.

    6.5  Applicable
      Law.
      The
      Plan and all rights hereunder shall be governed by and construed according
      to
      the laws of the State of Delaware, except to the extent such laws are preempted
      by the laws of the United States of America.

    6.6
       Claims
      Procedure.

    (a) Right
      to File a Claim. Participants and Beneficiaries are entitled to file a claim
      with respect to benefits or other aspects of the operation of the Plan. The
      claim is required to be in writing and must be made to the
      Administrator.

    (b) Denial
      of Claim. If the claim is denied by the Administrator, the claimant shall be
      notified in writing within ninety (90) days after receipt of the claim or within
      one hundred eighty (180) days after such receipt if special circumstances
      require an extension of time. If special circumstances require an extension
      of
      time in order to review the claim, the claimant will be furnished with a written
      notice of the extension of time within the initial ninety (90) day period.
      The
      notice will include an explanation of the special circumstances that require
      an
      extension and the date by which the Administrator expects to make its
      determination. In no event, however, will the extension of time exceed 180
      days
      from the date of the receipt of the claim by the Administrator. A written notice
      of denial of the claim shall contain the following information:

    (i) Specific
      reason or reasons for the denial;

     

    (ii) Specific
      reference to the 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 the material or information
      is
      necessary; and

     

    (iv) A
      description of the Plan’s review procedures and the time limits applicable to
      the procedures, including a statement of the claimant’s right to bring a civil
      action under Section 502(a) of ERISA following a denial upon review of the
      claim.

     

    (c) Claims
      Review Procedure. 

    (i) Participants
      or Beneficiaries may request that the Administrator review the denial of the
      claim. Such request must be made within sixty (60) days following the date
      the
      claimant received written notice of the denial of the claim. The Administrator
      shall afford the claimant a full and fair review of the decision denying the
      claim and shall:

     

    (A) Provide,
      upon request and free of charge, reasonable access to and copies of all
      documents, records, and other information relevant to the claim;
      and

     

    (B) Permit
      the claimant to submit written comments, documents, records, and other
      information relating to the claim.

     

    (ii) The
      decision on review by the Administrator shall be in writing and shall be issued
      within sixty (60) days following receipt of the request for review. The period
      for decision may be extended to a date not later than one-hundred and twenty
      (120) days after such receipt if the Administrator determines that special
      circumstances require extension. If special circumstances require an extension
      of time, the claimant shall be furnished written notice prior to the termination
      of the initial sixty (60) day period which explains the special
      circumstances requiring an extension of time and the date by which the
      Administrator expects to render its decision on review. The decision on review
      shall include:

     

    (A) Specific
      reason or reasons for the adverse determination;

     

    (B) References
      to the specific provisions in the Plan on which the determination is
      based;

     

    (C) A
      statement that the claimant is entitled to receive, upon request and free of
      charge, reasonable access to and copies of all documents, records, and other
      information relevant to the claimant’s claim; and

     

    (D) A
      statement of the claimant’s right to bring an action under Section 502(c) of
      ERISA.

     

    (iii) Any
      action required or authorized to be taken by the claimant pursuant to this
      Section may be taken by a representative authorized in writing by the claimant
      to represent the claimant.

     

    6.7 Plan
      Administration.
             

    (a) The
      Plan
      shall be administered by the Administrator. The Administrator shall serve as
      the
      final review under the Plan and shall have sole and complete discretionary
      authority to determine conclusively for all persons, and in accordance with
      the
      terms of the documents or instruments governing the Plan, any and all questions
      arising from the administration of the Plan and interpretation of all Plan
      provisions. The Administrator shall make the final determination of all
      questions relating to participation of employees and eligibility for benefits,
      and the amount and type of benefits payable to any Participant or Beneficiary.
      In no way limiting the foregoing, the Administrator shall have the following
      specific duties and obligations in connection with the administration of the
      Plan:

    
      	(i)  	
              to
                promulgate and enforce such rules, regulations and procedures as
                may be
                proper for the efficient administration of the
                Plan;

            

    

    
      	(ii)  	
              to
                determine all questions arising in the administration, interpretation
                and
                application of the Plan, including questions of eligibility and of
                the
                status and rights of Participants and any other persons
                hereunder;

            

    

    
      	(iii)  	
              to
                decide any dispute arising hereunder; provided, however, that the
                Administrator shall not participate in any matter involving any questions
                relating solely to the Administrator's own participation or benefit
                under
                this Plan;

            

    

    
      	(iv)  	
              to
                advise the Boards of Directors of the Employers regarding the known
                future
                need for funds to be available for
                distribution;

            

    

    
      	(v)  	
              to
                compute the amount of benefits and other payments which shall be
                payable
                to any Participant or Beneficiary in accordance with the provisions
                of the
                Plan and to determine the person or persons to whom such benefits
                shall be
                paid;

            

    

    
      	(vi)  	
              to
                make recommendations to the Board of Directors of the Company with
                respect
                to proposed amendments to the Plan;

            

    

    
      	(vii)  	
              to
                file all reports with government agencies, Participants and other
                parties
                as may be required by law, whether such reports are initially the
                obligation of the Employers, or the
                Plan;

            

    

    
      	(viii)  	
              to
                engage an actuary to the Plan, if necessary, and to cause the liabilities
                of the Plan to be evaluated by such actuary;
                and

            

    

    
      	(ix)  	
              to
                have all such other powers as may be necessary to discharge its duties
                hereunder.

            

    

    (b)  Decisions
      by the Administrator shall be final, conclusive and binding on all parties
      and
      not subject to further review.

    (c)  The
      Administrator may employ attorneys, consultants, accountants or other persons
      (who may be attorneys, consultants, actuaries, accountants or persons performing
      other services for, or are employed by, any Employer or any affiliate of any
      Employer), and the Administrator, the Employers and their other officers and
      directors shall be entitled to rely upon the advice, opinions or valuations
      of
      any such persons. No member of the Board of Directors of any Employer, the
      Chief
      Executive Officer , the Administrator, nor any other officer, director or
      employee of the Company or of any Employer acting on behalf of the Board of
      Directors of any Employer or the Chief Executive Officer or the Administrator,
      shall be personally liable for any action, determination or interpretation
      taken
      or made in good faith with respect to the Plan, and all members of the Boards
      of
      Directors of the Employers, the Chief Executive Officer and the Administrator
      and each officer or employee of the Company or of an Employer acting on their
      behalf shall be fully indemnified and protected by the Company for all costs,
      liabilities and expenses (including, but not limited to, reasonable attorneys'
      fees and court costs) relating to any such action, determination or
      interpretation.

    6.8 Binding
      Nature.
      This
      Plan shall be binding upon and inure to the benefit of the Employers and their
      successors and assigns and to the Participants, their Beneficiaries and their
      estates. Nothing in this Plan shall preclude any Employer from consolidating
      or
      merging into or with, or transferring all or substantially all of its assets
      to
      another company or corporation, whether or not such company or corporation
      assumes this Plan and any obligation of the Employer hereunder.

    6.9 Withholding
      Taxes.
      The
      Employers may withhold from any benefits payable under this Plan all federal,
      state, city or other taxes as shall be required pursuant to any law or
      governmental regulation or ruling.

    6.10 Action
      Affecting Chief Executive Officer.
      To the
      extent any action required to be taken by the Chief Executive Officer of the
      Company would decrease, increase, accelerate, delay or otherwise materially
      impact such individual's benefits under the Plan, such action shall be taken
      instead by the Compensation Committee of the Board of Directors of the
      Company.

    6.11 Payments
      Due Missing Persons.
      The
      Administrator shall make a reasonable effort to locate all persons entitled
      to
      benefits (including retirement benefits and death benefits for Beneficiaries)
      under the Plan; however, notwithstanding any provisions of this Plan to the
      contrary, if, after a period of five years from the date such benefits first
      become due, any such persons entitled to benefits have not been located, their
      rights under the Plan shall stand suspended. Before this provision becomes
      operative, the Administrator shall send a certified letter to all such persons
      at their last known address advising them that their benefits under the Plan
      shall be suspended. Any such suspended amounts shall be held by the Employer
      for
      a period of three additional years (or a total of eight years from the time
      the
      benefits first became payable) and thereafter such amounts shall be forfeited
      and non-payable.

    6.12 Liability
      Limited.
      Neither
      the Employers, the Administrator, nor any agents, employees, officers, directors
      or shareholders of any of them, nor any other person shall have any liability
      or
      responsibility with respect to this Plan, except as expressly provided
      herein.

    6.13 Incapacity.
      If the
      Administrator shall receive evidence satisfactory to it that a Participant
      or
      Beneficiary entitled to receive any benefit under the Plan is, at the time
      when
      such benefit becomes payable, a minor or is physically or mentally incompetent
      to receive such benefit and to give a valid release therefor, and that another
      person or an institution is then maintaining or has custody of such Participant
      or Beneficiary and that no guardian, committee or other representative of the
      estate of such Participant or Beneficiary shall have been duly appointed, the
      Administrator may make payment of such benefit otherwise payable to such
      Participant or Beneficiary (or to such guardian, committee or other
      representative of such person's estate) to such other person or institution,
      and
      the release of such other person or institution shall be a valid and complete
      discharge for the payment of such benefit.

    6.14 Plurals.
      Where
      appearing in the Plan, this singular shall include the plural, and vice versa,
      unless the context clearly indicates a different meaning.

    6.15 Headings.
      The
      headings and sub-headings in this Plan are inserted for the convenience of
      reference only and are to be ignored in any construction of the provisions
      hereof.

    6.16 Severability.
      In case
      any provision of this Plan shall be held illegal or void, such illegality or
      invalidity shall not affect the remaining provisions of this Plan, but shall
      be
      fully severable, and the Plan shall be construed and enforced as if said illegal
      or invalid provisions had never been inserted herein.

    6.17 Payment
      of Benefits.
      All
      amounts payable hereunder may be paid directly by the Employer or pursuant
      to
      the terms of the grantor trust, if any, established as a funding vehicle for
      benefits provided hereunder.

     

    ARTICLE
      VII -- ADDITIONAL AFFILIATED COMPANIES

     

    7.1  Participation
      in the Plan.
      

    (a)  Any
      Affiliated Company may become an Employer with respect to this Plan with the
      consent of the Compensation Committee upon recommendation of the Chief Executive
      Officer, upon the following conditions:

    
      	(i)  	
              such
                Employer shall make, execute and deliver such instruments as the
                Company
                requires; and

            

    

    
      	(ii)  	
              such
                Employer shall designate the Company, the Chief Executive Officer
                of the
                Company and the Administrator, as its agents for purposes of this
                Plan.

            

    

    (b)  Any
      such
      Employer may by action of its Board of Directors withdraw from participation,
      subject to approval by the Compensation Committee upon recommendation of the
      Chief Executive Officer.

    7.2  Effect
      of Participation.
      Each
      Employer which with the consent of the Compensation Committee upon
      recommendation of the Chief Executive Officer of the Company complies with
      Section 7.1(a) shall be deemed to have adopted this Plan for the benefit of
      its
      Employees who participate in this Plan.

    IN
      WITNESS WHEREOF, the Company, as the sponsoring employer of the
      Plan,

    has
      caused this Plan document to be duly executed by its Chief Executive Officer
      on
      this 16th day of November, 2006.

     

    MDU
      RESOURCES GROUP, INC.

    
 

    By: 
      /s/ TERRY D. HILDESTAD

    Terry
      D.
      Hildestad

    Chief
      Executive Officer

     

    
      
        
        

      

      
        
        

        
        

      

      
        
        

      

    

     APPENDIX
      A

    SCHEDULE
      OF RETIREMENT AND SURVIVORS BENEFITS

    
      	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              Monthly

            	 	 	
              Monthly

            	 
	 	
               

              Level

            	 	
               

              Salary

            	 	 	 	
              Retirement
                Benefit

            	 	 	
              Death
                Benefit

            	 
	 	
              50

            	 	
              $50,000

            	
              -

            	
              $59,999

            	 	
              $1,330

            	 	 	
              $2,660

            	 
	 	
              51

            	 	 	 	 	 	
              $1,728

            	 	 	
              $3,456

            	 
	 	
              52

            	 	
              $60,000

            	
              -

            	
              $74,999

            	 	
              $1,800

            	 	 	
              $3,600

            	 
	 	
              53

            	 	 	 	 	 	
              $2,160

            	 	 	
              $4,320

            	 
	 	
              54

            	 	
              $75,000

            	
              -

            	
              $99,999

            	 	
              $2,580

            	 	 	
              $5,160

            	 
	 	
              55

            	 	 	 	 	 	
              $2,880

            	 	 	
              $5,760

            	 
	 	
              56

            	 	
              $100,000

            	
              -

            	
              $124,999

            	 	
              $3,600

            	 	 	
              $7,200

            	 
	 	
              57

            	 	
              $125,000

            	
              -

            	
              $149,999

            	 	
              $4,470

            	 	 	
              $8,940

            	 
	 	
              58

            	 	
              $150,000

            	
              -

            	
              $174,999

            	 	
              $5,360

            	 	 	
              $10,720

            	 
	 	
              59

            	 	
              $175,000

            	
              -

            	
              $199,999

            	 	
              $6,250

            	 	 	
              $12,500

            	 
	 	
              60

            	 	
              $200,000

            	
              -

            	
              $224,999

            	 	
              $7,300

            	 	 	
              $14,600

            	 
	 	
              61

            	 	
              $225,000

            	
              -

            	
              $249,999

            	 	
              $8,215

            	 	 	
              $16,430

            	 
	 	
              62

            	 	
              $250,000

            	
              -

            	
              $274,999

            	 	
              $9,125

            	 	 	
              $18,250

            	 
	 	
              63

            	 	
              $275,000

            	
              -

            	
              $299,999

            	 	
              $10,475

            	 	 	
              $20,950

            	 
	 	
              64

            	 	
              $300,000

            	
              -

            	
              $324,999

            	 	
              $12,145

            	 	 	
              $24,290

            	 
	 	
              65

            	 	
              $325,000

            	
              -

            	
              $349,999

            	 	
              $13,670

            	 	 	
              $27,340

            	 
	 	
              66

            	 	
              $350,000

            	
              -

            	
              $399,999

            	 	
              $16,110

            	 	 	
              $32,220

            	 
	 	
              67

            	 	
              $400,000

            	
              -

            	
              $449,999

            	 	
              $19,525

            	 	 	
              $39,050

            	 
	 	
              68

            	 	
              $450,000

            	
              -

            	
              $499,999

            	 	
              $22,850

            	 	 	
              $45,700

            	 
	 	
              69

            	 	
              $500,000

            	
              -

            	
              $599,999

            	 	
              $28,800

            	 	 	
              $57,600

            	 
	 	
              70

            	 	
              $600,000

            	
              -

            	
              $699,999

            	 	
              $36,500

            	 	 	
              $73,000

            	 
	 	
              71

            	 	
              $700,000

            	
              -

            	
              $799,999

            	 	
              $42,710

            	 	 	
              $85,420

            	 
	 	
              72

            	 	
              $800,000

            	
              -

            	
              $899,999

            	 	
              $49,220

            	 	 	
              $98,440

            	 
	 	
              73

            	 	
              $900,000

            	
              -

            	
              $999,999

            	 	
              $55,310

            	 	 	
              $110,620

            	 
	 	
              74

            	 	
              $1,000,000

            	
              -

            	
              $1,099,999

            	 	
              $60,200

            	 	 	
              $120,400

            	 

    

     

    
      
        
        

      

      
        
        

        
        

      

      
        
        

      

    

    APPENDIX
      B

    

    CURRENT
      PARTICIPANTS ELIGIBLE FOR ARTICLE IV BENEFITS

    

    Steven
      L.
      Bietz

    John
      K.
      Castleberry

    Terry
      D.
      Hildestad

    Bruce
      T.
      Imsdahl

    Vernon
      A.
      Raile

    Warren
      L.
      Robinson

    Paul
      K.
      Sandness

    William
      E. Schneider

    Martin
      A.
      White

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}]]