Document:

Module and Segment Reference

    
      

    

    

      Exhibit
        4.3

      EXECUTION
        COPY

      

      $750,000,000

      

      AMENDED
        AND RESTATED FIVE-YEAR REVOLVING CREDIT AGREEMENT

      

      Dated
        as of

      

      December
        14, 2006

      

      among

       

      CENTURYTEL,
        INC.,

       

      THE
        LENDERS NAMED HEREIN,

      

      JPMORGAN
        CHASE BANK, N.A.

      

      as
        Administrative Agent,

      

      WACHOVIA
        BANK, N.A.,

      

      as
        Syndication Agent,

      

      BANK
        OF AMERICA, N.A., BANK OF TOKYO-MITSUBISHI UFJ TRUST COMPANY, SUNTRUST BANK,
        COBANK, ACB, LEHMAN BROTHERS BANK, FSB,

      REGIONS
        BANK and WILLIAM STREET COMMITMENT CORPORATION,

      

      as
        Co-Documentation Agents

       

      
        
          

        

      

       

      
        	
                J.P.
                  MORGAN SECURITIES INC.

              	
                WACHOVIA
                  CAPITAL MARKETS LLC

              

      

      

      As
        Joint Bookrunners and Co-Lead Arrangers

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Table
        of Contents

      

      
        	 	
                Page

              
	
                SECTION
                  1 DEFINITIONS.

              	
                1

              
	 	
                1.1.

              	
                Certain
                  Defined Terms.

              	
                1

              
	 	
                1.2.

              	
                Accounting
                  Principles.

              	
                16

              
	 	
                1.3.

              	
                Other
                  Definitional Provisions.

              	
                16

              
	 	 	 	
                 

              
	
                SECTION
                  2 FACILITIES.

              	
                17

              
	 	
                2.1.

              	
                Commitments.

              	
                17

              
	 	
                2.2.

              	
                Procedure
                  for Loan Borrowing.

              	
                18

              
	 	
                2.3.

              	
                Conversion
                  and Continuation Options.

              	
                18

              
	 	
                2.4.

              	
                Fees.

              	
                19

              
	 	
                2.5.

              	
                Optional
                  Termination and Reduction of Commitments.

              	
                19

              
	 	
                2.6.

              	
                Limitations
                  on Eurodollar Tranches.

              	
                20

              
	 	
                2.7.

              	
                Interest
                  Rates and Payment Dates.

              	
                20

              
	 	
                2.8.

              	
                Alternate
                  Rate of Interest for Eurodollar Loans.

              	
                21

              
	 	
                2.9.

              	
                Mandatory
                  and Optional Prepayment of Loans.

              	
                21

              
	 	
                2.10.

              	
                Reserve
                  Requirements; Change in Circumstances.

              	
                21

              
	 	
                2.11.

              	
                Change
                  in Legality.

              	
                23

              
	 	
                2.12.

              	
                Indemnity.

              	
                24

              
	 	
                2.13.

              	
                Pro
                  Rata Treatment.

              	
                24

              
	 	
                2.14.

              	
                Sharing
                  of Setoffs.

              	
                24

              
	 	
                2.15.

              	
                Payments.

              	
                25

              
	 	
                2.16.

              	
                Calculation
                  of Eurodollar Rate.

              	
                26

              
	 	
                2.17.

              	
                Computation
                  of Interest and Fees.

              	
                26

              
	 	
                2.18.

              	
                Booking
                  Loans.

              	
                26

              
	 	
                2.19.

              	
                Quotation
                  of Rates.

              	
                26

              
	 	
                2.20.

              	
                Taxes

              	
                26

              
	 	 	 	
                 

              
	
                SECTION
                  3 LETTERS OF CREDIT

              	
                28

              
	 	
                3.1.

              	
                L/C
                  Commitment

              	
                28

              
	 	
                3.2.

              	
                Procedure
                  for Issuance of Letter of Credit

              	
                29

              
	 	
                3.3.

              	
                Fees
                  and Other Charges

              	
                29

              
	 	
                3.4.

              	
                L/C
                  Participations

              	
                29

              
	 	
                3.5.

              	
                Reimbursement
                  Obligation of the Borrower

              	
                30

              
	 	
                3.6.

              	
                Obligations
                  Absolute

              	
                30

              
	 	
                3.7.

              	
                Letter
                  of Credit Payments

              	
                31

              
	 	
                3.8.

              	
                Applications

              	
                31

              
	 	 	 	
                 

              
	
                SECTION
                  4 REPRESENTATIONS AND WARRANTIES.

              	
                31

              
	 	
                4.1.

              	
                Purpose
                  of Credit Facility.

              	
                31

              
	 	
                4.2.

              	
                Corporate
                  Existence, Good Standing, and Authority.

              	
                31

              
	 	
                4.3.

              	
                Significant
                  Subsidiaries.

              	
                31

              
	 	
                4.4.

              	
                Financial
                  Statements.

              	
                32

              
	 	
                4.5.

              	
                Compliance
                  with Laws, Charter, and Agreements.

              	
                32

              
	 	
                4.6.

              	
                Litigation.

              	
                32

              
	 	
                4.7.

              	
                Taxes.

              	
                32

              
	 	
                4.8.

              	
                Environmental
                  Matters.

              	
                32

              
	 	
                4.9.

              	
                Employee
                  Benefit Plans.

              	
                33

              

      

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

       

      
        	 	
                4.10.

              	
                Properties;
                  Liens.

              	
                33

              
	 	
                4.11.

              	
                Holding
                  Company and Investment Company Status.

              	
                33

              
	 	
                4.12.

              	
                Transactions
                  with Affiliates.

              	
                33

              
	 	
                4.13.

              	
                Leases.

              	
                33

              
	 	
                4.14.

              	
                Labor
                  Matters.

              	
                34

              
	 	
                4.15.

              	
                Insurance.

              	
                34

              
	 	
                4.16.

              	
                Solvency.

              	
                34

              
	 	
                4.17.

              	
                Business.

              	
                34

              
	 	
                4.18.

              	
                General.

              	
                34

              
	 	 	 	
                 

              
	
                SECTION
                  5 CONDITIONS PRECEDENT.

              	
                34

              
	 	
                5.1.

              	
                Initial
                  Loan.

              	
                34

              
	 	
                5.2.

              	
                Each
                  Revolving Extension of Credit.

              	
                35

              
	 	
                5.3.

              	
                Materiality
                  of Conditions.

              	
                36

              
	 	
                5.4.

              	
                Waiver
                  of Conditions.

              	
                36

              
	 	 	 	
                 

              
	
                SECTION
                  6 AFFIRMATIVE COVENANTS.

              	
                36

              
	 	
                6.1.

              	
                Use
                  of Proceeds.

              	
                36

              
	 	
                6.2.

              	
                Books
                  and Records.

              	
                36

              
	 	
                6.3.

              	
                Items
                  to be Furnished.

              	
                36

              
	 	
                6.4.

              	
                Inspection.

              	
                37

              
	 	
                6.5.

              	
                Taxes.

              	
                37

              
	 	
                6.6.

              	
                Payment
                  of Obligations.

              	
                38

              
	 	
                6.7.

              	
                Expenses.

              	
                38

              
	 	
                6.8.

              	
                Maintenance
                  of Existence, Assets, Business, and Insurance.

              	
                38

              
	 	
                6.9.

              	
                Preservation
                  and Protection of Rights.

              	
                38

              
	 	
                6.10.

              	
                Environmental
                  Laws.

              	
                38

              
	 	
                6.11.

              	
                Environmental
                  Indemnification.

              	
                39

              
	 	 	 	 
	
                SECTION
                  7 NEGATIVE COVENANTS.

              	
                39

              
	 	
                7.1.

              	
                Employee
                  Benefit Plans.

              	
                39

              
	 	
                7.2.

              	
                Liens.

              	
                39

              
	 	
                7.3.

              	
                Restricted
                  Payments.

              	
                39

              
	 	
                7.4.

              	
                Mergers
                  and Consolidations.

              	
                39

              
	 	
                7.5.

              	
                Loans,
                  Advances, and Investments.

              	
                40

              
	 	
                7.6.

              	
                Transactions
                  with Affiliates.

              	
                41

              
	 	
                7.7.

              	
                Sale
                  of Assets.

              	
                41

              
	 	
                7.8.

              	
                Compliance
                  with Laws and Documents.

              	
                42

              
	 	
                7.9.

              	
                New
                  Businesses.

              	
                42

              
	 	
                7.10.

              	
                Assignment.

              	
                42

              
	 	
                7.11.

              	
                Fiscal
                  Year.

              	
                42

              
	 	
                7.12.

              	
                Holding
                  Company and Investment Company Status.

              	
                42

              
	 	
                7.13.

              	
                Amendments
                  to Equity Units Documentation.

              	
                42

              
	 	
                7.14.

              	
                Financial
                  Covenants.

              	
                43

              
	 	 	 	
                 

              
	
                SECTION
                  8 DEFAULT

              	
                44

              
	 	
                8.1.

              	
                Payment
                  of Obligation.

              	
                44

              
	 	
                8.2.

              	
                Covenants.

              	
                44

              
	 	
                8.3.

              	
                Debtor
                  Relief.

              	
                44

              
	 	
                8.4.

              	
                Attachment.

              	
                44

              
	 	
                8.5.

              	
                Payment
                  of Judgments.

              	
                45

              

      

      

        
          
            
            

          

          
            ii

            
              

            

          

          
            
            

          

        

      

       

      
        	 	
                8.6.

              	
                Default
                  Under Other Agreements.

              	
                45

              
	 	
                8.7.

              	
                Misrepresentation.

              	
                45

              
	 	
                8.8.

              	
                Change
                  in Control.

              	
                45

              
	 	
                8.9.

              	
                ERISA.

              	
                46

              
	 	
                8.10.

              	
                Validity
                  and Enforceability of Loan Papers.

              	
                46

              
	 	 	 	 
	
                SECTION
                  9 RIGHTS AND REMEDIES

              	
                46

              
	 	
                9.1.

              	
                Remedies
                  Upon Event of Default.

              	
                46

              
	 	
                9.2.

              	
                Waivers.

              	
                47

              
	 	
                9.3.

              	
                Performance
                  by Administrative Agent.

              	
                47

              
	 	
                9.4.

              	
                Delegation
                  of Duties and Rights.

              	
                47

              
	 	
                9.5.

              	
                Lenders
                  Not in Control.

              	
                47

              
	 	
                9.6.

              	
                Waivers
                  by Lenders.

              	
                47

              
	 	
                9.7.

              	
                Cumulative
                  Rights.

              	
                48

              
	 	
                9.8.

              	
                Application
                  of Proceeds.

              	
                48

              
	 	
                9.9.

              	
                Certain
                  Proceedings.

              	
                48

              
	 	
                9.10.

              	
                Setoff.

              	
                48

              
	 	 	 	 
	
                SECTION
                  10 THE AGENTS.

              	
                48

              
	 	
                10.1.

              	
                Appointment.

              	
                48

              
	 	
                10.2.

              	
                Delegation
                  of Duties.

              	
                49

              
	 	
                10.3.

              	
                Exculpatory
                  Provisions.

              	
                49

              
	 	
                10.4.

              	
                Reliance
                  of Administrative Agent.

              	
                49

              
	 	
                10.5.

              	
                Notice
                  of Default.

              	
                50

              
	 	
                10.6.

              	
                Non-Reliance
                  on Agents and Other Lenders.

              	
                50

              
	 	
                10.7.

              	
                Indemnification.

              	
                50

              
	 	
                10.8.

              	
                Agent
                  in its Individual Capacity.

              	
                51

              
	 	
                10.9.

              	
                Successor
                  Administrative Agent.

              	
                51

              
	 	
                10.10.

              	
                Co-Documentation
                  Agents and Syndication Agent.

              	
                51

              
	 	 	 	
                 

              
	
                SECTION
                  11 MISCELLANEOUS.

              	
                51

              
	 	
                11.1.

              	
                Changes
                  in GAAP.

              	
                51

              
	 	
                11.2.

              	
                Money
                  and Interest.

              	
                52

              
	 	
                11.3.

              	
                Number
                  and Gender of Words.

              	
                52

              
	 	
                11.4.

              	
                Headings.

              	
                52

              
	 	
                11.5.

              	
                Exhibits.

              	
                52

              
	 	
                11.6.

              	
                Notices.

              	
                52

              
	 	
                11.7.

              	
                Exceptions
                  to Covenants.

              	
                53

              
	 	
                11.8.

              	
                Survival.

              	
                54

              
	 	
                11.9.

              	
                Governing
                  Law.

              	
                54

              
	 	
                11.10.

              	
                Submission
                  to Jurisdiction; Waivers.

              	
                54

              
	 	
                11.11.

              	
                WAIVERS
                  OF JURY TRIAL.

              	
                54

              
	 	
                11.12.

              	
                Severability.

              	
                55

              
	 	
                11.13.

              	
                Integration.

              	
                55

              
	 	
                11.14.

              	
                Amendments,
                  Etc.

              	
                55

              
	 	
                11.15.

              	
                Waivers.

              	
                56

              
	 	
                11.16.

              	
                Governmental
                  Regulation.

              	
                56

              
	 	
                11.17.

              	
                Multiple
                  Counterparts.

              	
                56

              
	 	
                11.18.

              	
                Successors
                  and Assigns; Participations; Assignments.

              	
                56

              
	 	
                11.19.

              	
                Confidentiality.

              	
                59

              

      

      

        
          
            
            

          

          
            iii

            
              

            

          

          
            
            

          

        

      

       

      
        	 	
                11.20.

              	
                Patriot
                  Act.

              	
                60

              
	 	
                11.21.

              	
                Conflicts
                  and Ambiguities.

              	
                60

              
	 	
                11.22.

              	
                GENERAL
                  INDEMNIFICATION.

              	
                60

              

      

      

      

      SCHEDULES

      

      
        	
                Commitments

              	
                Schedule 1

              
	
                Transactions
                  with Affiliates

              	
                Schedule 4.12

              
	
                Business
                  of Companies

              	
                Schedule 4.17

              

      

      

      EXHIBITS

      

      
        	
                Revolving
                  Note

              	
                Exhibit
                  A

              
	
                Opinion
                  of Borrower’s Counsel 

              	
                Exhibit
                  B

              
	
                Financial
                  Report Certificate

              	
                Exhibit
                  C

              
	
                Assignment
                  and Assumption

              	
                Exhibit
                  D

              
	
                Increased
                  Facility Activation Notice

              	
                Exhibit
                  E

              
	
                New
                  Lender Supplement

              	
                Exhibit
                  F

              

      

      

        
          
            
            

          

          
            iv

            
              

            

          

          
            
            

          

        

      

       

      AMENDED
        AND RESTATED CREDIT AGREEMENT (this “Agreement”),
        dated
        as of December 14, 2006, among CENTURYTEL, INC., a Louisiana corporation
        (the
“Borrower”),
        the
        several banks and other financial institutions or entities from time to time
        parties to this Agreement (the “Lenders”),
        WACHOVIA BANK, N.A., as syndication agent (in such capacity, the “Syndication
        Agent”),
        BANK
        OF AMERICA, N.A., BANK OF TOKYO-MITSUBISHI UFJ TRUST COMPANY, SUNTRUST BANK,
        COBANK, ACB, LEHMAN BROTHERS BANK, FSB, REGIONS BANK and WILLIAM STREET
        COMMITMENT CORPORATION, as co-documentation agents (in such capacity, the
        “Co-Documentation
        Agents”),
        and
        JPMORGAN CHASE BANK, N.A., as administrative agent (in such capacity, the
        “Administrative
        Agent”).

      

      W I T N E S S E T H
        :

      

      WHEREAS,
        the Borrower entered into the Credit Agreement, dated as of March 7, 2005
        (the
“Existing
        Credit Agreement”),
        with
        the several banks and other financial institutions or entities parties thereto,
        the syndication agent and co-documentation agents named therein and JPMorgan
        Chase Bank, N.A., as administrative agent;

      

      WHEREAS,
        the parties hereto have agreed to amend and restate the Existing Credit
        Agreement as provided in this Agreement, which Agreement shall become effective
        upon the satisfaction of the conditions precedent set forth in Section 5.1
        hereof; and

      

      WHEREAS,
        it is the intent of the parties hereto that this Agreement not constitute
        a
        novation of the obligations and liabilities existing under the Existing Credit
        Agreement and which remain outstanding or evidence repayment of any of such
        obligations and liabilities and that this Agreement amend and restate in
        its
        entirety the Existing Credit Agreement and re-evidence the obligations of
        the
        Borrower outstanding thereunder;

      

      NOW,
        THEREFORE, in consideration of the above premises, the parties hereto hereby
        agree that, effective on the Effective Date (as defined below), the Existing
        Credit Agreement shall be amended and restated in its entirety as
        follows:

      

      SECTION
        1

      

      DEFINITIONS

       

      
        	 	
                1.1

              	
                Certain
                  Defined Terms.

              

      

      

      As
        used
        in this Agreement, the following terms shall have the following meanings
        (such
        meanings to be equally applicable to both the singular and plural forms of
        the
        terms defined):

      

      “ABR”
        means,
        for any day, a rate per annum (rounded upwards, if necessary, to the next
        1/16
        of 1%) equal to the greater of (a) the Prime Rate in effect on such day and
        (b)
        the Federal Funds Effective Rate in effect on such day plus 1⁄2 of 1%. For
        purposes hereof: “Prime Rate” shall mean the rate of interest per annum publicly
        announced from time to time by JPMorgan Chase Bank as its prime rate in effect
        at its principal office in New York City (the Prime Rate not being intended
        to
        be the lowest rate of interest charged by JPMorgan Chase Bank in connection
        with
        extensions of credit to debtors). Any change in the ABR due to a change in
        the
        Prime Rate or the Federal Funds Effective Rate shall be effective as of the
        opening of business on the effective day of such change in the Prime Rate
        or the
        Federal Funds Effective Rate, respectively.

      

      “ABR
        Loan”
        means
        any Loan the rate of interest applicable to which is based upon the
        ABR.

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

      

      “Acquisitions”
        means
        the acquisition by the Borrower or its Subsidiaries of at least a majority
        of
        the capital stock or all or substantially all of the Property of another
        Person,
        division of another Person or other business unit of another Person, whether
        or
        not involving a merger or consolidation of such Person, provided that such
        Person or Property is used or useful in the same or a similar line of business
        as set forth on Schedule 4.17 hereto (or any reasonable extensions or expansions
        thereof). “Adjusted
        Consolidated Net Worth” means, as of the date of determination, Consolidated Net
        Worth minus (i) deferred assets other than prepaid insurance, prepaid
        taxes, prepaid interest, extraordinary retirements, and deferred charges
        where
        such deferred charges are considered by Tribunals when setting rates,
        (ii) patents, copyrights, trademarks, trade names, franchises, experimental
        expense, goodwill (other than goodwill arising from the purchase of capital
        stock or assets of a Person engaged in the business described on Schedule
        4.17)
        and similar intangible or intellectual property, and (iii) unamortized debt
        discount and expense (other than debt discount and expense of the Companies
        located in jurisdictions where such items are considered by Tribunals when
        setting rates).

      

      “Administrative
        Agent”
        is
        defined in the introduction to this Agreement. “Affiliate”
        of any Person means any other individual or entity that directly or indirectly
        controls, or is controlled by, or is under common control with, such Person,
        and, for purposes of this definition only, “control,” “controlled by,” and
“under common control with” mean possession, directly or indirectly, of the
        power to direct or cause the direction of the management or policies of such
        Person (whether through ownership of Voting Stock, by contract, or
        otherwise).

      

      “Agents”
        means
        the Administrative Agent, the Syndication Agent and the Co-Documentation
        Agents.

      

      “Agreement”
        means
        this Five-Year Revolving Credit Agreement, as the same may be amended,
        supplemented, modified or restated from time to time.

      

      “Applicable
        Margin”
        means,
        at the time of any determination thereof, for purposes of all Eurodollar
        Loans,
        the margin of interest over the Eurodollar Rate which is applicable at the
        time
        of any determination of interest rates under this Agreement, which Applicable
        Margin shall be adjusted based on the Senior Unsecured Long-Term Debt Rating,
        as
        determined as of the last day of the immediately preceding fiscal quarter
        of the
        Borrower, as follows:

      

      
        	
                Senior
                  Unsecured Long-Term Debt Rating

              	
                Applicable
                  Margin

              
	
                A-
                  or A3 or better

              	
                25.0
                  basis points

              
	
                BBB+
                  or Baal

              	
                35.0
                  basis points

              
	
                BBB
                  or Baa2

              	
                45.0
                  basis points

              
	
                BBB-
                  or Baa3

              	
                55.0
                  basis points

              
	
                Below
                  BBB- or Baa3

              	
                75.0
                  basis points

              

      

      

      “Application”
means
        an application, in such form as the Issuing Lender may specify from time
        to
        time, requesting the Issuing Lender to open a Letter of Credit. 

      

      “Approved
        Fund”
is
        defined in Section 11.18(b)(ii).

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      “Assignee”
is
        defined in Section 11.18(b)(i).

      

      “Assignment
        and Assumption”
means
        an Assignment and Assumption, substantially in the form of Exhibit
        D.

      

      “Attributable
        Debt”
means,
        in respect of any sale and leaseback transaction, at the time of determination,
        the present value of the obligation of the lessee for net rental payments
        during
        the remaining term of the lease included in such sale and leaseback transaction
        including any period for which such lease has been extended or may, at the
        sole
        option of the lessor, be extended. Such present value shall be calculated
        using
        a discount rate equal to the rate of interest implicit in such transaction,
        determined in accordance with GAAP.

      

      “Available
        Commitment”
means
        as to any Lender at any time, an amount equal to the excess, if any, of (a)
        such
        Lender’s Commitment then in effect over
        (b) the
        aggregate principal amount of Revolving Extensions of Credit made by such
        Lender.

      

      “Board”
means
        the Board of Governors of the Federal Reserve System of the United
        States.

      

      “Borrower”
is
        defined in the introduction to this Agreement.

      

      “Borrowing”
        means a
        borrowing consisting of simultaneous Loans from each of the Lenders distributed
        ratably among the Lenders in accordance with their respective
        Commitments.

      

      “Borrowing
        Date”
means
        the Business Day upon which the proceeds of any Borrowing are to be made
        available to the Borrower.

      

      “Business
        Day”
means
        a
        day other than a Saturday, Sunday or other day on which commercial banks
        in New
        York City are authorized or required by law to close, provided,
        that
        with respect to notices and determinations in connection with, and payments
        of
        principal and interest on, Eurodollar Loans, such day is also a day for trading
        by and between banks in Dollar deposits in the interbank eurodollar
        market.

      

      “Capital
        Stock”
means
        any and all shares, interests, participations or other equivalents (however
        designated) of capital stock of a corporation, any and all equivalent ownership
        interests in a Person (other than a corporation) and any and all warrants,
        rights or options to purchase any of the foregoing.

      

      “Cash
        Equivalents”
        means,
        as
        at any
        date, (a) securities
        issued or directly and fully guaranteed or insured by the United States or
        any
        agency or instrumentality thereof (provided
        that the
        full faith and credit of the United States is pledged in support thereof)
        having
        maturities of not more than twelve months from the date of acquisition,
        (b) dollar denominated time deposits and certificates of deposit of
        (i) any Lender, (ii) any domestic commercial bank of recognized
        standing having capital and surplus in excess of $500,000,000 or (iii) any
        bank whose short-term commercial paper rating from S&P is at least A-1 or
        the equivalent thereof or from Moody's is at least P-1 or the equivalent
        thereof
        (any such bank being an “Approved
        Bank”),
        in
        each case with maturities of not more than 270 days from the date of
        acquisition, (c) commercial paper and variable or fixed rate notes issued
        by any Approved Bank (or by the parent company thereof) or any variable rate
        notes issued by, or guaranteed by, any domestic corporation rated A-1 (or
        the
        equivalent thereof) or better by S&P or P-1 (or the equivalent thereof) or
        better by Moody's and maturing within six months of the date of acquisition,
        (d) repurchase agreements entered into by any Person with a bank or trust
        company (including any of the Lenders) or recognized securities dealer having
        capital and surplus in excess of $500,000,000 for direct obligations issued
        by
        or fully guaranteed by the United States in which such Person shall have
        a
        perfected first priority security interest (subject to no other Liens) and
        having, on the date of purchase thereof, a fair market value of at least
        100% of
        the amount of the repurchase obligations and (e) investments, classified in
        accordance with GAAP as current assets, in money market investment programs
        registered under the Investment Company Act of 1940, as amended, which are
        administered by reputable financial institutions having capital of at least
        $500,000,000 and the portfolios of which are limited to investments of the
        character described in the foregoing subdivisions (a) through
        (d).

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      “CLO”
        is
        defined in Section 11.18(b)(ii).

      

      “Code”
means
        the Internal Revenue Code of 1986, as amended, together with rules and
        regulations promulgated thereunder.

      

      “Co-Documentation
        Agents”
is
        defined in the introduction to this Agreement.

      

      “Commitment”
means,
        as to any Lender, the obligation of such Lender to make Loans and participate
        in
        Letters of Credit in an aggregate principal amount not to exceed the amount
        set
        forth under the heading “Commitment” opposite such Lender’s name on Schedule 1
        or in the Assignment and Assumption pursuant to which such Lender became
        a party
        hereto, as the same may be changed from time to time pursuant to the terms
        hereof. The original amount of the Total Commitments is
        $750,000,000.

      

      “Commitment
        Fee”
is
        defined in Section 2.4(a).

      

      “Commitment
        Fee Percentage”
is
        defined in Section 2.4(a).

      

      “Commitment
        Period”
means
        the period from and including the Effective Date to the Termination Date.
        

      

      "Commitment
        Utilization Percentage"
        means
        on any day the percentage equivalent of a fraction (a) the numerator of which
        is
        the Used Commitment and (b) the denominator of which is the aggregate
        amount of the Total Commitments. Notwithstanding the foregoing, the Commitment
        Utilization Percentage shall be deemed to be 100% if any Loans or Letters
        of
        Credit remain outstanding after the Commitments hereunder have been
        terminated.

      

      “Companies”
means,
        collectively, the Borrower and its Subsidiaries and “Company” means any of the
        same.

      

      “Conduit
        Lender”
means
        any special purpose corporation organized and administered by any Lender
        for the
        purpose of making Loans otherwise required to be made by such Lender and
        designated by such Lender in a written instrument; provided,
        that
        the designation by any Lender of a Conduit Lender shall not relieve the
        designating Lender of any of its obligations to fund a Loan under this Agreement
        if, for any reason, its Conduit Lender fails to fund any such Loan, and the
        designating Lender (and not the Conduit Lender) shall have the sole right
        and
        responsibility to deliver all consents and waivers required or requested
        under
        this Agreement with respect to its Conduit Lender, and provided,
        further,
        that no
        Conduit Lender shall (a) be entitled to receive any greater amount pursuant
        to
        Section 2.10, 2.12, 2.20, 6.7 or 11.21 than the designating Lender would
        have
        been entitled to receive in respect of the extensions of credit made by such
        Conduit Lender or (b) be deemed to have any Commitment.

      

      “Confidential
        Information Memorandum”
means
        the Confidential Information Memorandum dated November 2006 and furnished
        to
        certain Lenders.

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      “Consolidated
        Net Worth”
means,
        as of the date of determination, the amount of stated capital plus (or minus,
        in
        the case of a deficit) the capital surplus and earned surplus of the Companies,
        as calculated in accordance with GAAP (but treating Minority Interests in
        Subsidiaries as liabilities and excluding the contra-equity account resulting
        from the Borrower’s obligations under its employee stock ownership plan
        commitments). For purposes of this Agreement, Consolidated Net Worth shall
        exclude the effect of FASB Statements No. 101 (“Regulated
        Enterprises-Accounting for the Discontinuation of Application of FASB Statement
        No. 71”), 106 (“'Employers' Accounting for Postretirement Benefits Other than
        Pensions”), 142 (“Goodwill and Other Intangible Assets”) and 144 (“Accounting
        for the Impairment or Disposal of Long-Lived Assets”) of the Financial
        Accounting Standards Board.

      

      “Consolidated
        Total Funded Debt”
means,
        as of the date of determination, the aggregate principal amount of all Funded
        Debt of the Borrower and its Subsidiaries at such date, determined on a
        consolidated basis in accordance with GAAP.

      

      “Current
        Date”
means
        any date after November 15, 2006.

      

      “Current
        Financials”
means
        the consolidated Financial Statements of the Companies for the fiscal year
        ended
        December 31, 2005, and the nine months ended September 30,
        2006.

      

      “Debt”
means
        (without duplication), for any Person, all obligations, contingent or otherwise
        (including, without limitation, contingent obligations in connection with
        letters of credit), which in accordance with GAAP should be classified upon
        such
        Person’s balance sheet as liabilities, but in any event including, without
        limitation, whether or not such obligations in accordance with GAAP should
        be
        classified as liabilities, (a) liabilities secured (or for which the holder
        of such Debt has an existing Right, contingent or otherwise, to be so secured)
        by any Lien existing on property owned or acquired by such Person or a
        Subsidiary thereof (whether or not the liability secured thereby shall have
        been
        assumed), (b) obligations which have been or under GAAP should be
        capitalized for financial reporting purposes, (c) all guaranties,
        endorsements, and other contingent obligations with respect to Debt of others,
        including, but not limited to, any obligations to purchase, sell, or furnish
        property or services intended by a Company primarily for the purpose of enabling
        such other Person to make payment of any of such Person’s Debt, or to otherwise
        assure the holder of any of such Debt against loss with respect thereto,
        and
        (d) liabilities under any Swap Agreement.

      

      “Debt
        Rating”
means
        the public debt rating by S&P and Moody’s for that class of non-credit
        enhanced, senior unsecured debt with an original term of longer than one
        year
        issued by the Borrower which has the lowest rating of all classes of non-credit
        enhanced, senior unsecured debt with an original term of longer than one
        year
        issued by the Borrower.

      

      “Debtor
        Relief Laws”
means
        the Bankruptcy Code of the United States of America and all other applicable
        liquidation, conservatorship, bankruptcy, moratorium, rearrangement,
        receivership, insolvency, reorganization, fraudulent transfer or conveyance,
        suspension of payments, or similar Laws from time to time in effect affecting
        the Rights of creditors generally.

      

      “Default”
means
        the occurrence of any event which with the giving of notice or the passage
        of
        time or both would become an Event of Default.

      

      “Dollars”
and
        “$”
means
        dollars in lawful currency of the United States.

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      “EBITDA”
means
        for any period, consolidated net income of the Companies for such period
        plus,
        without
        duplication and to the extent reflected as a charge in the statement of such
        consolidated net income for such period, the sum of (a) income tax expense,
        (b)
        interest expense, amortization or write-off of debt discount and debt issuance
        costs and commissions, discounts and other fees and charges associated with
        indebtedness (including the Loans), (c) depreciation and amortization, (d)
        any
        extraordinary or nonrecurring non-cash expenses or losses, (e) any non-cash
        charges resulting from requirements to mark-to-market Swap Agreements and
        (f)
        non-cash expenses or losses which result from the implementation of FASB
        statement of Financial Accounting Standards No. 142 (“Goodwill and Other
        Intangible Assets”) and 144 (“Accounting for the Impairment or Disposal of
        Long-Lived Assets”), and minus,
        (a) to
        the extent included in the statement of such consolidated net income for
        such
        period, any extraordinary, unusual or non-recurring income or gains (including,
        whether or not otherwise includable as a separate item in the statement of
        such
        consolidated net income for such period, gains on the sales of assets outside
        of
        the ordinary course of business) and (b) any cash payments made during such
        period in respect of items described in clause (d), (e) or (f) above subsequent
        to the fiscal quarter in which the relevant non-cash expenses or losses were
        reflected as a charge in the statement of consolidated net income, all as
        determined on a consolidated basis.

      

      “Effective
        Date”
means
        the date on which the conditions set forth in Section 5.1 shall have been
        satisfied, which date is December 14, 2006. 

      

      “Eligible
        Reinvestment”
means
        (i) any acquisition (whether or not constituting a capital expenditure, but
        not constituting an Acquisition) of assets or any business (or any substantial
        part thereof) used or useful in the same or a similar line of business as
        set
        forth on Schedule 4.17 hereto (or any reasonable extensions or expansions
        thereof) and (ii) any Acquisition.

      

      “Environmental
        Law”
means
        any Law that relates to the environment or handling or control of Hazardous
        Substances.

      

      “Equity
        Units”
means
        (i) the $500,000,000 aggregate principal amount of equity units issued by
        the
        Borrower on April 29, 2002 and (ii) any subsequent offering of equity units
        issued by the Borrower the structure, terms and conditions of which are
        substantially similar to the offering referred to in clause (i)
        above.

      

      “ERISA”
means
        the Employee Retirement Income Security Act of 1974, as amended from time
        to
        time, and the regulations promulgated thereunder.

      

      “ERISA
        Affiliate”
means
        any company or trade or business (whether or not incorporated) which, for
        purposes of Title IV of ERISA, is a member of a group of which Borrower is
        a member and which is under common control with Borrower within the meaning
        of
        section 414 of the Code.

      

      “Eurocurrency
        Reserve Requirements”
mean,
        for any day as applied to a Eurodollar Loan, the aggregate (without duplication)
        of the maximum rates (expressed as a decimal fraction) of reserve requirements
        in effect on such day (including basic, supplemental, marginal and emergency
        reserves) under any regulations of the Board or other Tribunal having
        jurisdiction with respect thereto dealing with reserve requirements prescribed
        for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in
        Regulation D of the Board) maintained by a member bank of the Federal Reserve
        System.

      

      “Eurodollar
        Base Rate”
means,
        with respect to each day during each Interest Period pertaining to a Eurodollar
        Loan, the rate per annum determined on the basis of the rate for deposits
        in
        Dollars for a period equal to such Interest Period commencing on the first
        day
        of such Interest Period appearing on Page 3750 of the Telerate screen as
        of
        11:00 A.M., London time, two Business Days prior to the beginning of such
        Interest Period. In the event that such rate does not appear on Page 3750
        of the
        Telerate screen (or otherwise on such screen), the “Eurodollar
        Base Rate”
shall
        be determined by reference to such other comparable publicly available service
        for displaying eurodollar rates as may be selected by the Administrative
        Agent
        or, in the absence of such availability, by reference to the rate at which
        the
        Administrative Agent is offered Dollar deposits at or about 11:00 A.M., New
        York
        City time, two Business Days prior to the beginning of such Interest Period
        in
        the interbank eurodollar market where its eurodollar and foreign currency
        and
        exchange operations are then being conducted for delivery on the first day
        of
        such Interest Period for the number of days comprised therein.

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      “Eurodollar
        Loan”
means
        any Loan the rate of interest applicable to which is based upon the Eurodollar
        Rate.

      

      “Eurodollar
        Rate”
means,
        with respect to each day during each Interest Period pertaining to a Eurodollar
        Loan, a rate per annum determined for such day in accordance with the following
        formula (rounded upward to the nearest 1/100th of 1%):

      

      
        	
                Eurodollar
                  Base Rate

              
	
                1.00
                  - Eurocurrency Reserve Requirements

              

      

       

       

      “Eurodollar
        Tranche”
means
        the collective reference to Eurodollar Loans the then current Interest Periods
        with respect to all of which begin on the same date and end on the same later
        date (whether or not such Loans shall originally have been made on the same
        day).

      

      “Event
        of Default”
means
        any of the events described in Section 8, provided
        there
        has been satisfied any requirement in connection therewith for the giving
        of
        notice, lapse of time, or happening of any further condition, event, or
        act.

      

      "Excess
        Utilization Day"
        means
        each day on which the Commitment Utilization Percentage equals or exceeds
        50%.

      

      “Existing
        Credit Agreement”
is
        defined in the recitals to this Agreement.

      

      “Federal
        Funds Effective Rate”
means,
        for any day, the weighted average of the rates on overnight federal funds
        transactions with members of the Federal Reserve System arranged by federal
        funds brokers, as published on the next succeeding Business Day by the Federal
        Reserve Bank of New York, or, if such rate is not so published for any day
        that is a Business Day, the average of the quotations for the day of such
        transactions received by JPMorgan Chase Bank from three federal funds brokers
        of
        recognized standing selected by it.

      

      “Financial
        Officer”
means
        the chief financial officer, treasurer or controller of the
        Borrower.

      

      “Financial
        Report Certificate”
means
        a
        certificate substantially in the form of Exhibit C.

      

      “Financial
        Statements”
means
        balance sheets, income statements, statements of stockholders’ equity, and
        statements of cash flow prepared in comparative form to the corresponding
        period
        of the preceding fiscal year.

      

      “Funded
        Debt”
with
        respect to any Person, shall mean and include, as of any date as of which
        the
        amount thereof is to be determined, (a) indebtedness of such Person for
        borrowed money, (b) all obligations of such Person for the deferred purchase
        price of property or services (other than current trade payables incurred
        in the
        ordinary course of such Person’s business), (c) all obligations of such Person
        evidenced by notes, bonds, debentures or other similar instruments, (d) all
        indebtedness created or arising under any conditional sale or other title
        retention agreement with respect to property acquired by such Person (even
        though the rights and remedies of the seller or lender under such agreement
        in
        the event of default are limited to repossession or sale of such property),
        (e)
        liabilities secured (or for which the holder thereof has an existing Right,
        contingent or otherwise, to be so secured) by any Lien existing on property
        owned or acquired by such Person or a Subsidiary thereof (whether or not
        the
        liability secured thereby shall have been assumed), (f) obligations of such
        Person which have been or under GAAP should be capitalized for financial
        reporting purposes, and (g) Attributable Debt of such Person, but excluding
        (i) indebtedness secured by or borrowed against the cash surrender value of
        life insurance policies up to the amount of such cash surrender value and
        (ii)
        an amount equal to 80% of the outstanding principal amount of indebtedness
        under
        the Equity Units.

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

      “Funding
        Office”
means
        the office of the Administrative Agent specified in Section 11.6 or such
        other
        office as may be specified from time to time by the Administrative Agent
        as its
        funding office by written notice to the Borrower and the Lenders.

      

      “GAAP”
means
        generally accepted accounting principles of the Accounting Principles Board
        of
        the American Institute of Certified Public Accountants and the Financial
        Accounting Standards Board which are applicable as of the date of the Financial
        Statements in question.

      

      “Guaranty”
means
        by any particular Person, all obligations of such Person guaranteeing or
        in
        effect guaranteeing any Debt, dividend or other obligation of any other Person
        (the “primary obligor”) in any manner whether directly or indirectly, including,
        without limitation of the generality of the foregoing, obligations incurred
        through an agreement, contingent or otherwise, by such particular Person
        (i) to purchase such Debt or obligation or any property or assets
        constituting security therefor, (ii) to advance or supply funds
        (x) for the purchase or payment of such Debt or obligation or (y) to
        maintain working capital or equity capital or otherwise to advance or make
        available funds for the purchase or payment of such Debt or obligation,
        (iii) to purchase property, securities or services primarily for the
        purpose of assuring the owner of such Debt or obligation of the ability of
        the
        primary obligor to make payment of the Debt or obligation or (iv) otherwise
        to assure the owner of the Debt or obligation of the primary obligor against
        loss in respect thereof.

      

      “Hazardous
        Substance”
means
        any hazardous or toxic waste, pollutant, contaminant, or substance.

      

      “Increased
        Facility Activation Notice”
means
        a
        notice substantially in the form of Exhibit E.

      

      “Increased
        Facility Closing Date”
means
        any Business Day designated as such in an Increased Facility Activation
        Notice.

      

      “Indemnified
        Parties”
is
        defined in Section 11.21.

      

      “Interest
        Payment Date”
means
        (a) as to any ABR Loan, the last day of each March, June, September and December
        to occur while such Loan is outstanding and the final maturity date of such
        Loan, (b) as to any Eurodollar Loan having an Interest Period of three months
        or
        less, the last day of such Interest Period, (c) as to any Eurodollar Loan
        having
        an Interest Period longer than three months, each day that is three months,
        or a
        whole multiple thereof, after the first day of such Interest Period and the
        last
        day of such Interest Period (d) as to any Loan (other than any Loan that
        is an
        ABR Loan), the date of any repayment or optional prepayment made in respect
        thereof and (e) as to any Loan, the date of any mandatory prepayment in respect
        thereof.

      

      “Interest
        Period”
means,
        as to any Eurodollar Loan, (a) initially, the period commencing on the borrowing
        or conversion date, as the case may be, with respect to such Eurodollar Loan
        and
        ending one, two, three or six months thereafter, as selected by the Borrower
        in
        its notice of borrowing or notice of conversion, as the case may be, given
        with
        respect thereto; and (b) thereafter, each period commencing on the last day
        of
        the next preceding Interest Period applicable to such Eurodollar Loan and
        ending
        one, two, three or six months thereafter, as selected by the Borrower by
        irrevocable notice to the Administrative Agent not later than 11:00 A.M.,
        New
        York City time, on the date that is three Business Days prior to the last
        day of
        the then current Interest Period with respect thereto; provided
        that,
        all of the foregoing provisions relating to Interest Periods are subject
        to the
        following:

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

      (i)    if
        any
        Interest Period would otherwise end on a day that is not a Business Day,
        such
        Interest Period shall be extended to the next succeeding Business Day unless
        the
        result of such extension would be to carry such Interest Period into another
        calendar month in which event such Interest Period shall end on the immediately
        preceding Business Day;

      

      (ii)    the
        Borrower may not select an Interest Period that would extend beyond the
        Termination Date unless the Borrower acknowledges that it will be responsible
        for any breakage costs owing under Section 2.12 resulting from repayment
        on the
        Termination Date;

      

      (iii)    any
        Interest Period that begins on the last Business Day of a calendar month
        (or on
        a day for which there is no numerically corresponding day in the calendar
        month
        at the end of such Interest Period) shall end on the last Business Day of
        a
        calendar month; and

      

      (iv)    subject
        to clause (ii) above, the Borrower shall select Interest Periods so as not
        to
        require a payment or prepayment of any Eurodollar Loan during an Interest
        Period
        for such Loan.

      

      “Issuing
        Lenders”
means
        JPMorgan Chase Bank, N.A. and Wachovia Bank, N.A. or any respective affiliate
        thereof, in its capacity as issuer of any Letter of Credit. Each reference
        herein to “the Issuing Lender” shall be deemed to be a reference to the relevant
        Issuing Lender with respect to the relevant Letter of Credit.

      

      “Laws”
means
        all applicable statutes, laws, treaties, ordinances, rules, regulations,
        orders,
        writs, injunctions, decrees, judgments, or opinions of any
        Tribunal.

      

      “L/C
        Commitment”
is
        $150,000,000.

      

      “L/C
        Obligations”
means,
        at any time, an amount equal to the sum of (a) the aggregate then undrawn
        and
        unexpired amount of the then outstanding Letters of Credit and (b) the aggregate
        amount of drawings under Letters of Credit that have not then been reimbursed
        pursuant to Section 3.5.

      

      “L/C
        Participants”
means
        the collective reference to all Lenders other than the Issuing
        Lenders.

      

      “Lenders”
means
        those lenders signatory hereto and other financial institutions which from
        time
        to time become party hereto pursuant to the provisions of this
        Agreement.

      

      “Letters
        of Credit”
is
        defined in Section 3.1(a).

      

      “Lien”
means
        any lien, mortgage, security interest, pledge, assignment, charge, title
        retention agreement, or encumbrance of any kind, and any other Right of or
        arrangement with any creditor to have his claim satisfied out of any property
        or
        assets, or the proceeds therefrom, prior to the general creditors of the
        owner
        thereof.

      

      “Litigation”
means
        any action conducted, pending, or threatened by or before any
        Tribunal.

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

       

      “Loan
        Papers”
means
        (i) this Agreement, certificates delivered pursuant to this Agreement, and
        exhibits and schedules hereto, (ii) any notes, security documents,
        guaranties, and other agreements in favor of the Agents and the Lenders,
        or any
        or some of them, ever delivered in connection with this Agreement, and
        (iii) all renewals, extensions, or restatements of, or amendments or
        supplements to, any of the foregoing.

      

      “Loans”
is
        defined in Section 2.1(a).

      

      “Majority
        Lenders”
means
        at any time the Lenders holding at least 51% of the then aggregate Revolving
        Extensions of Credit or, if no Revolving Extensions of Credit are outstanding,
        the Lenders having at least 51% of the Available Commitments.

      

      “Margin
        Stock”
means
        “margin stock” within the meaning of Regulations T, U, or X of the
        Board.

      

      “Material
        Adverse Effect”
means
        any set of one or more circumstances or events which, individually or
        collectively, will result in any of the following: (a) a material and
        adverse effect upon the validity or enforceability of any Loan Paper, (b) a
        material and adverse effect on the consolidated financial condition of the
        Companies represented in the later of the Current Financials or the most
        recent
        audited consolidated Financial Statements, (c) a Default or (d) the
        issuance of an accountant’s report on the Companies’ consolidated Financial
        Statements containing an explanatory paragraph about the entity’s ability to
        continue as a going concern (as defined in accordance with Generally Accepted
        Auditing Standards).

      

      “Material
        Agreement”
of
        any
        Person means any material written or oral agreement, contract, commitment,
        or
        understanding to which such Person is a party, by which such Person is directly
        or indirectly bound, or to which any assets of such Person may be subject,
        and
        which is not cancelable by such Person upon 30 days or less notice without
        liability for further payment other than nominal penalty, and which requires
        such Person to pay more than 1 percent of Consolidated Net Worth during any
        12-month period.

      

      “Minority
        Interest”
means,
        with respect to any Subsidiary, an amount determined by valuing preferred
        stock
        held by Persons other than the Borrower and its wholly-owned Subsidiaries
        at the
        voluntary or involuntary liquidating value of such preferred stock, whichever
        is
        greater, and by valuing common stock or partnership interests held by Persons
        other than the Borrower and its wholly-owned Subsidiaries at the book value
        of
        capital and surplus applicable thereto on the books of such Subsidiary adjusted,
        if necessary, to reflect any changes from the book value of common stock
        required by the foregoing method of valuing Minority Interest attributable
        to
        preferred stock.

      

      “Moody’s”
means
        Moody’s Investors Service, Inc.

      

      “Multiemployer
        Plan”
means
        a
        multiemployer plan as defined in sections 3(37) or 4001(a)(3) of ERISA or
        section 414 of the Code to which any Company or any ERISA Affiliate is
        making, or has made, or is accruing, or has accrued, an obligation to make
        contributions.

      

      “Net
        Cash Proceeds”
        means
        the
        aggregate cash or Cash Equivalents proceeds received by the Company in respect
        of any disposition of assets as contemplated by Section 7.7(g), net of
        (a) direct costs (including, without limitation, legal, accounting and
        investment banking fees, and sales commissions), (b) taxes paid or payable
        as a result thereof and (c) the amount necessary to retire any Debt secured
        by a Permitted Lien on the related Property
        (unless the purchaser of the assets has assumed the obligations to repay
        such
        Debt);
        it
        being understood that “Net
        Cash
        Proceeds”
        shall
        include, without limitation, any cash or Cash Equivalents received upon the
        sale
        or other disposition of any non-cash consideration received by any such Company
        in any disposition of assets.

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

      “New
        Lender”
is
        defined in Section 2.1(c).

      

      “New
        Lender Supplement”
is
        defined in Section 2.1(c).

      

      “Non-Excluded
        Taxes”
is
        defined in Section 2.20(a).

      

      “Non-U.S.
        Lender”
is
        defined in Section 2.20(d).

      

      “Note”
means
        a
        promissory note of the Borrower, in substantially the form of Exhibit A hereto,
        with the blanks appropriately completed, evidencing the aggregate indebtedness
        of the Borrower to such Lender resulting from the Loans made by such Lender
        to
        the Borrower, together with all modifications, extensions, renewals, and
        rearrangements thereof.

      

      “Obligation”
means
        all present and future indebtedness, obligations, and liabilities, and all
        renewals, extensions, and modifications thereof, owed to the Agents and the
        Lenders, or any or some of them, by the Borrower, arising pursuant to any
        Loan
        Paper, together with all interest thereon and costs, expenses, and attorneys’
fees incurred in the enforcement or collection thereof.

      

      “Other
        Taxes”
means
        any and all present or future stamp or documentary taxes or any other excise
        or
        property taxes, charges or similar levies arising from any payment made
        hereunder or from the execution, delivery or enforcement of, or otherwise
        with
        respect to, this Agreement or any other Loan Paper.

      “Participant”
is
        defined in Section 11.18(b).

      

      “PBGC”
means
        the Pension Benefit Guaranty Corporation, or any successor thereof, established
        pursuant to ERISA.

       

      “Permitted
        Liens”
means
        (a) any Lien securing Debt incurred for the purchase or capital lease of
        one or
        more assets, if such Lien encumbers only the assets so purchased or leased;
        (b)
        pledges or deposits made to secure payment of workers’ compensation, or to
        participate in any fund in connection with workers’ compensation, unemployment
        insurance, pensions, or other social security programs; (c) good-faith pledges
        or deposits made to secure performance of bids, tenders, contracts (other
        than
        for the repayment of borrowed money), or leases, or to secure statutory
        obligations, surety or appeal bonds, or indemnity, performance, or other
        similar
        bonds in the ordinary course of business; (d) encumbrances and restrictions
        on
        the use of real property which do not materially impair such property; (e)
        (i)
        Liens for Taxes, (ii) Liens upon, and defects of title to, property, including
        any attachment of property or other legal process prior to adjudication of
        a
        dispute on the merits, (iii) Liens of mechanics, materialmen, warehousemen,
        carriers, and landlords, and similar Liens, and (iv) adverse judgments on
        appeal, in each case, with respect to this clause (e), if either (x) no amounts
        are due and payable and no Lien has been filed or agreed to or (y) the validity
        or amount thereof is being contested in good faith by the lawful proceedings
        diligently conducted, reserve or other provision required by GAAP has been
        made,
        levy and execution thereon have been (and continue to be) stayed, and neither
        the value nor use of the property in question are materially affected; (f)
        Liens
        in favor of the United States Department of Agriculture, Rural Electrification
        Administration, the Rural Utilities Service or Rural Telephone Bank or similar
        lenders such as the Rural Telephone Finance Cooperative; (g) Liens on equity
        investments in CoBank or any other equity investments in a financial institution
        which requires any Company to make an equity investment in such institution
        in
        order to borrow money; (h) Liens existing on any property of a Subsidiary
        existing at the time when it became such, which were not created with a view
        of
        its becoming a Subsidiary, provided
        that (i)
        the principal amount of the Debt secured by each such Lien shall not exceed
        the
        cost (which shall be deemed to include the amount of all Debt secured by
        Liens,
        including existing Liens, on such property) of such property to such Subsidiary,
        or the fair value of such property (without deduction of the Debt secured
        by
        Liens on such property) at the time of its becoming a Subsidiary, whichever
        is
        the lesser, and (ii) the Debt secured by such Liens may not be increased,
        extended, renewed or continued beyond its original stated maturity if such
        increase, extensions or renewal would result in a Default under Section 7.14;
        (i) Liens either on shares of stock of a corporation which, when such Liens
        arise, concurrently becomes a Subsidiary or on all or substantially all of
        the
        assets of a corporation arising in connection with the purchase or acquisition
        thereof by the Company, provided
        that the
        Debt secured by such Liens may not be increased or extended, renewed or
        continued beyond its original stated maturity if such increase, extensions
        or
        renewal would result in a Default under Section 7.14; (j) Liens on property
        of a
        Subsidiary (other than on the stock of Subsidiary except to the extent permitted
        in clause (i) above) securing obligations owing to the Borrower or a
        wholly-owned Subsidiary or securing indebtedness of such Subsidiary created,
        assumed or incurred after the date hereof, the creation, assumption or
        incurrence of which would not create a Default under Section 7.14; (k) except
        as
        otherwise prohibited in clause (h) or (i) above, Liens securing extensions
        and
        renewals of the Debt originally secured thereby; (l) Liens on accounts
        receivables and related assets (including without limitation, all collateral,
        guaranties and contracts associated with such accounts receivables, all of
        the
        Receivables Entity’s interest in the inventory and goods the sale of which gave
        rise to the accounts receivable, all lockbox or collection accounts related
        thereto, all records related thereto, and all proceeds of the foregoing)
        securing indebtedness incurred pursuant to a Qualified Receivables Transaction;
        and (m) Liens on assets subject to any sale and leaseback transaction
        consummated pursuant to Section 7.7(g).

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

       

      “Person”
means
        and includes an individual, partnership, joint venture, corporation, trust,
        limited liability company, limited liability partnership, or other entity,
        Tribunal, unincorporated organization, or government, or any department,
        agency,
        or political subdivision thereof.

      

      “Plan”
means
        any plan defined in Section 4021(a) of ERISA in respect of which the
        Borrower is an “employer” or a “substantial employer” as such terms are defined
        in ERISA.

      

      “Property”
        means
        any
        interest in any kind of property or asset, whether real, personal or mixed,
        or
        tangible or intangible.

      

      “Purchaser”
is
        defined in Section 11.18(c).

      

      “Qualified
        Receivables Transaction”
means
        any transaction or series of transactions that may be entered into by the
        Borrower or any of its Subsidiaries pursuant to which the Borrower or any
        of its
        Subsidiaries may sell, convey or otherwise transfer to (a) a Receivables
        Entity
        (in the case of a transfer by the Borrower or any of its Subsidiaries) or
        (b)
        any other Person (in the case of a transfer by a Receivables Entity), or
        may
        grant a security interest in, any accounts receivable (whether now existing
        or
        arising in the future) of the Borrower or any of its Subsidiaries, and any
        assets related thereto including, without limitation, all collateral securing
        such accounts receivable, all contracts and all guarantees or other obligations
        in respect of such accounts receivable, the proceeds of such receivables
        and
        other assets which are customarily transferred, or in respect of which security
        interests are customarily granted, in connection with asset securitization
        involving accounts receivable.

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

       

      “Quarterly
        Payment Date”
means
        (a) the third Business Day following the last day of each March, June, September
        and December and (b) the last day of the Commitment Period.

      

      “Receivables
        Entity”
means
        a
        Wholly Owned Subsidiary of the Borrower (to which the Borrower or any Subsidiary
        transfers accounts receivable and related assets pursuant to a Qualified
        Receivables Transaction) which engages in no activities other than in connection
        with the financing of accounts receivable and whose assets consist solely
        of
        receivables and related assets transferred to such entity in connection with
        a
        Qualified Receivables Transaction:

       

      (a)    no
        portion of the Indebtedness or any other obligations (contingent or otherwise)
        of which:

      

      (i)    is
        guaranteed by the Borrower or any Subsidiary (excluding guarantees of
        obligations (other than the principal of, and interest on, Indebtedness)
        pursuant to Standard Securitization Undertakings);

      

      (ii)    is
        recourse to or obligates the Borrower or any Subsidiary in any way other
        than
        pursuant to Standard Securitization Undertakings; or

      

      (iii)    subjects
        any property or asset of the Borrower or any Subsidiary, directly or indirectly,
        contingently or otherwise, to the satisfaction thereof, other than pursuant
        to
        Standard Securitization Undertakings;

      

      (b)    with
        which neither the Borrower nor any Subsidiary has any material contract,
        agreement, arrangement or understanding (except in connection with a Qualified
        Receivables Transaction) other than on terms no less favorable to the Borrower
        or such Subsidiary than those that might be obtained at the time from Persons
        that are not Affiliates of the Borrower, other than fees payable in the ordinary
        course of business in connection with servicing accounts receivable;
        and

       

      (c)    to
        which
        neither the Borrower nor any Subsidiary has any obligation to maintain or
        preserve such entity’s financial condition or cause such entity to achieve
        certain levels of operating results (except pursuant to Standard Securitization
        Undertakings).

       

      Any
        designation by the Borrower of a Wholly Owned Subsidiary as a Receivables
        Entity
        shall be evidenced to the Administrative Agent by delivering to the
        Administrative Agent a certificate from a Financial Officer of the Borrower
        certifying that such designation complied with the foregoing
        conditions.

      

      “Register”
is
        defined in Section 11.18(b)(iv).

      

      “Regulation D”
means
        Regulation D of the Board, as the same is from time to time in effect, and
        all official rulings and interpretations thereunder or thereof.

      

      “Regulatory
        Change”
means,
        with respect to any Lender, (a) any adoption or change after the date
        hereof of or in United States federal, state or foreign Laws (including
        Regulation D) or guidelines applying to a class of banks including such
        Lender, (b) the adoption or making after the date hereof of any
        interpretations, directives or requests applying to a class of banks including
        such Lender of or under any United States federal, state or foreign Laws
        or
        guidelines (whether or not having the force of law) by any Tribunal, monetary
        authority, central bank, or comparable agency charged with the interpretation
        or
        administration thereof, or (c) any change in the interpretation or
        administration of any United States federal, state or foreign Laws or guidelines
        applying to a class of banks including such Lender by any Tribunal, monetary
        authority, central bank, or comparable agency charged with the interpretation
        or
        administration thereof.

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

       

      “Reimbursement
        Obligation”
means
        the obligation of the Borrower to reimburse the Issuing Lender pursuant to
        Section 3.5 for amounts drawn under the Letters of Credit.

      

      “Restricted
        Payment”
        means

      

      (a)    the
        declaration or payment of dividends by the Borrower, or distribution (in
        cash,
        property, obligations or other securities or any combination thereof) on
        account
        of any shares of any class of capital stock of the Borrower, or

      

      (b)    other
        payments or distributions by the Borrower whether by reduction of capital
        or
        otherwise on account of any shares of any class of capital stock of the
        Borrower, or

      

      (c)    the
        setting apart of money for a sinking or other analogous fund by the Borrower
        for
        the purchase, redemption, retirement or other acquisition of any shares of
        any
        class of capital stock of the Borrower, or any warrant, option or other right
        to
        acquire any capital stock of the Borrower;

      

      but
        in
        each case in (a), (b) and (c) above, excluding dividends or other distributions
        payable solely in common stock of the Borrower.

      

      “Revolving
        Extensions of Credit”
means,
        as to any Lender, an amount equal to the sum of (a) the aggregate principal
        amount of all Loans held by such Lender then outstanding and (b) such Lender’s
        Revolving Percentage of the L/C Obligations then outstanding.

      

      “Revolving
        Percentage”
means,
        as to any Lender at any time, the percentage which such Lender’s Commitment then
        constitutes of the Total Commitments or, at any time after the Commitments
        shall
        have expired or terminated, the percentage which the aggregate principal
        amount
        of such Lender’s Loans then outstanding constitutes of the aggregate principal
        amount of the Loans then outstanding, provided, that, in the event that the
        Loans are paid in full prior to the reduction to zero of the Revolving
        Extensions of Credit, the Revolving Percentages shall be determined in a
        manner
        designed to ensure that the other outstanding Revolving Extensions of Credit
        shall be held by the Lenders on a comparable basis.

      

      “Rights”
means
        rights, remedies, powers, and privileges.

      

      “S&P”
means
        Standard and Poor’s Ratings Services, Inc., a division of The McGraw Hill
        Companies, Inc.

      

      “Senior
        Unsecured Long-Term Debt Rating”
means,
        as of any date, the Debt Rating that has been most recently announced by
        S&P
        and Moody’s. In connection with any determination of the Senior Unsecured
        Long-Term Debt Rating pursuant to the immediately preceding
        sentence:

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

       

      (i)for
        purposes of determining the Applicable Margin or the Commitment Fee Percentage,
        (a) if only one of S&P and Moody’s shall have in effect a public debt
        rating, the Applicable Margin and the Commitment Fee Percentage (as set forth
        in
        Section 2.4(a)) shall be determined by reference to the available rating;
        (b) if the ratings established by S&P and Moody’s shall fall within
        different levels, the Applicable Margin and the Commitment Fee Percentage
        shall
        be based upon the higher rating, except that if the difference is two or
        more
        levels, the Applicable Margin and the Commitment Fee Percentage shall be
        based
        on the rating that is one level below the higher rating; (c) if any rating
        established by S&P or Moody’s shall be changed, such change shall be
        effective as of the date on which such change is first announced publicly
        by the
        rating agency making such change; (d) if S&P or Moody’s shall change
        the basis on which ratings are established, each reference to the public
        debt
        rating announced by S&P or Moody’s, as the case may be, shall refer to the
        then equivalent rating by S&P or Moody’s, as the case may be; (e) if
        neither S&P nor Moody’s shall have in effect a public debt rating but at
        least one of S&P and Moody’s has in effect a rating for any class of senior
        secured debt with an original term of longer than one year issued by the
        Borrower, the Applicable Margin and Commitment Fee Percentage shall be
        determined by reference to a rating that is one level lower than the rating
        that
        has been most recently announced by S&P and Moody’s for such class of debt;
        and (f) if neither S&P nor Moody’s shall have in effect either a public
        debt rating or a rating for any class of senior secured debt with an original
        term of longer than one year issued by the Borrower, the Applicable Margin
        and
        Commitment Fee Percentage shall be set in accordance with the lowest level
        rating and highest percentage rate set forth in the respective tables relating
        to “Applicable Margin” and “Commitment Fee Percentage”, as the case may be;
        and

      

      (ii)for
        purposes of Section 7.7(f), (a) if only one of S&P and Moody’s
        shall have in effect a public debt rating, the Senior Unsecured Long-Term
        Debt
        Rating shall be determined by reference to the available rating; (b) if the
        ratings established by S&P and Moody’s shall fall within different levels,
        the Senior Unsecured Long-Term Debt Rating shall be based upon the lower
        rating;
        (c) if any rating established by S&P or Moody’s shall be changed, such
        change shall be effective as of the date on which such change is first announced
        publicly by the rating agency making such change; (d) if S&P or Moody’s
        shall change the basis on which ratings are established, each reference to
        the
        public debt rating announced by S&P or Moody’s, as the case may be, shall
        refer to the then equivalent rating by S&P or Moody’s, as the case may be;
        (e) if neither S&P nor Moody’s shall have in effect a public debt
        rating but at least one of S&P and Moody’s has in effect a rating for any
        class of senior secured debt with an original term of longer than one year
        issued by the Borrower, the Senior Unsecured Long-Term Debt Rating shall
        be
        deemed to be the rating that is one level lower than the rating that has
        been
        most recently announced by S&P and Moody’s for such class of debt; and
        (f) if neither S&P nor Moody’s shall have in effect either a public
        debt rating or a rating for any class of senior secured debt with an original
        term of longer than one year issued by the Borrower, the Debt Rating by S&P
        shall be deemed to be less than BBB and the Debt Rating by Moody's shall
        be
        deemed to be less than Baa2.

       

      “Significant
        Subsidiary”
means
        a
        Subsidiary of the Borrower (i) the assets of which equal or exceed 5% of
        all assets of the Borrower and its Subsidiaries as shown on a consolidated
        balance sheet of the Borrower and its Subsidiaries, (ii) the operating
        revenue of which, for the most recently ended period of twelve consecutive
        months, equals or exceeds 5% of the operating revenues of the Borrower and
        its
        Subsidiaries for such period, or (iii) the net income from recurring
        operations of which, for the most recently ended period of twelve consecutive
        months, equals or exceeds 5% of the net income from recurring operations
        of the
        Borrower and its Subsidiaries for such period.

      

      “Solvent”
means,
        as to any Person at the time of determination, that (a) the aggregate fair
        value of such Person’s assets exceeds the present value of its liabilities
        (whether contingent, subordinated, unmatured, unliquidated, or otherwise),
        and
        (b) such Person has sufficient cash flow to enable it to pay its Debts as
        they mature.

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

       

      “Standard
        Securitization Undertakings”
means
        representations, warranties, covenants and indemnities entered into by the
        Borrower or any Subsidiary which are reasonably customary in securitization
        of
        accounts receivables transactions (it being understood that in no event shall
        Standard Securitization Undertakings include any Guaranty in respect of
        principal or interest on the financing for any Qualified Receivables
        Transaction).

      

      “Subsidiary”
means
        any Person with respect to which Borrower or any one or more Subsidiaries
        owns
        directly or indirectly 50% or more of the issued and outstanding voting stock
        (or equivalent interests).

      

      “Swap
        Agreement”
means
        any agreement with respect to any swap, forward, future or derivative
        transaction or option or similar agreement involving, or settled by reference
        to, one or more rates, currencies, commodities, equity or debt instruments
        or
        securities, or economic, financial or pricing indices or measures of economic,
        financial or pricing risk or value or any similar transaction or any combination
        of these transactions.

      

      “Syndication
        Agent”
is
        defined in the introduction to this Agreement.

      

      “Taxes”
means
        all taxes, assessments, fees, or other charges at any time imposed by any
        Laws
        or Tribunal.

      

      “Termination
        Date”
means
        December 14, 2011, subject, however, to termination in whole of the Total
        Commitments pursuant to Section 2.5.

      

      “Total
        Commitments”
means,
        at any time, the aggregate amount of the Commitments then in effect.

      

      “Tribunal”
means
        any municipal, state, commonwealth, federal, foreign, territorial, or other
        court, governmental body, subdivision, agency, department, commission, board,
        bureau, or instrumentality.

      

      “Type”
shall
        mean any type of Loan (i.e., an ABR Loan or Eurodollar Loan).

      

      “United
        States”
and
        “U.S.”
each
        means United States of America.

      

      “Used
        Commitment”
means
        the aggregate outstanding principal amount of the Revolving Extensions of
        Credit.

      

      "Utilization
        Fee"
        is
        defined in Section 2.4(b).

      

      “Voting
        Stock”
shall
        mean securities (as such term is defined in Section 2(1) of the Securities
        Act of 1933, as amended) of any class or classes, the holders of which are
        ordinarily, in the absence of contingencies, entitled to elect a majority
        of the
        corporate directors (or Persons performing similar functions).

      

      “Wholly
        Owned Subsidiary”
means,
        as to any Person, any other Person all of the Capital Stock of which (other
        than
        directors’ qualifying shares required by law) is owned by such Person directly
        and/or through other Wholly Owned Subsidiaries.

      
        
          
          

        

        
          16

          
            

          

        

        
          
          

        

      

       

      
        	 	
                1.2

              	
                Accounting
                  Principles.

              

      

      

      All
        accounting and financial terms used in the Loan Papers and the compliance
        with
        each financial covenant therein shall be determined in accordance with GAAP
        as
        in effect on the date of this Agreement, and all accounting principles shall
        be
        applied on a consistent basis so that the accounting principles in a current
        period are comparable in all material respects to those applied in the
        consolidated Financial Statements for the Companies for the twelve months
        ended
        December 31, 2005.

      

      
        	 	
                1.3

              	
                Other
                  Definitional Provisions.

              

      

      

      As
        used
        herein and in the other Loan Papers, (i) the words “include”, “includes” and
“including” shall be deemed to be followed by the phrase “without limitation”,
        (ii) the word “incur” shall be construed to mean incur, create, issue, assume,
        become liable in respect of or suffer to exist (and the words “incurred” and
“incurrence” shall have correlative meanings), (iii) the words “asset” and
“property” shall be construed to have the same meaning and effect and to refer
        to any and all tangible and intangible assets and properties, including cash,
        capital stock, securities, revenues, accounts, leasehold interests and contract
        rights, and (iv) references to agreements or other contractual obligations
        shall, unless otherwise specified, be deemed to refer to such agreements
        or
        contractual obligations as amended, supplemented, restated or otherwise modified
        from time to time.

      

      SECTION
        2

      

      FACILITIES.

      

      
        	 	
                2.1

              	
                Commitments.

              

      

      

      (a)    Subject
        to the terms and conditions hereof, each Lender severally agrees to make
        revolving credit loans (“Loans”)
        to the
        Borrower from time to time during the Commitment Period in an aggregate
        principal amount at any one time outstanding which, when added to such Lender’s
        Revolving Percentage of the L/C Obligations, does not exceed the amount of
        such
        Lender’s Commitment. During the Commitment Period, the Borrower may use the
        Commitments by borrowing, repaying the Loans in whole or in part, and
        reborrowing, all in accordance with the terms and conditions hereof. The
        Loans
        may from time to time be Eurodollar Loans or ABR Loans, as determined by
        the
        Borrower and notified to the Administrative Agent in accordance with Sections
        2.2 and 2.3.

      

      (b)    The
        Borrower and any one or more Lenders (including New Lenders) may agree that
        each
        such Lender shall obtain a Commitment or increase the amount of its existing
        Commitment, as applicable, in each case by executing and delivering to the
        Administrative Agent an Increased Facility Activation Notice specifying
        (i) the amount of such increase and (ii) the Increased Facility
        Closing Date. No Lender shall have any obligation to participate in any increase
        described in this paragraph unless it agrees to do so in its sole
        discretion.

      

      (c)    Any
        additional bank, financial institution or other entity which, with the consent
        of the Borrower and the Administrative Agent (which consent shall not be
        unreasonably withheld), elects to become a “Lender” under this Agreement in
        connection with any transaction described in Section 2.1(b) shall execute
        a New
        Lender Supplement (each, a “New
        Lender Supplement”),
        substantially in the form of Exhibit F, whereupon such bank, financial
        institution or other entity (a “New
        Lender”)
        shall
        become a Lender for all purposes and to the same extent as if originally
        a party
        hereto and shall be bound by and entitled to the benefits of this
        Agreement.

      
        
          
          

        

        
          17

          
            

          

        

        
          
          

        

      

       

      (d)    For
        the
        purpose of providing that the respective amounts of Loans (and Interest Periods
        in respect of Eurodollar Loans) held by the Lenders are held by them on a
        pro
        rata basis according to their respective Revolving Percentages, unless otherwise
        agreed by the Administrative Agent, on each Increased Facility Closing
        Date (i) all outstanding Loans shall be converted into a single Loan
        that is a Eurodollar Loan (with an interest period to be selected by the
        Borrower), and upon such conversion the Borrower shall pay any amounts owing
        pursuant to Section 2.12, if any, (with such conversion being treated as a
        prepayment of all outstanding Eurodollar Loans for the purposes of Section
        2.12), (ii) any new borrowings of Loans on such date shall also be part of
        such
        single Loan and (iii) all Lenders (including the New Lenders) shall hold a
        portion of such single Loan equal to its Revolving Percentage thereof and
        any
        fundings on such date shall be made in such a manner so as to achieve the
        foregoing.

      

      
        	 	
                2.2

              	
                Procedure
                  for Loan Borrowing.

              

      

      

      The
        Borrower may borrow under the Commitments during the Commitment Period on
        any
        Business Day, provided
        that the
        Borrower shall give the Administrative Agent irrevocable notice (which notice
        must be received by the Administrative Agent prior to 11:00 A.M., New York
        City
        time, (a) three Business Days prior to the requested Borrowing Date, in the
        case
        of Eurodollar Loans, or (b) on the requested Borrowing Date, in the case
        of ABR
        Loans), specifying (i) the amount and Type of Loans to be borrowed, (ii)
        the
        requested Borrowing Date and (iii) in the case of Eurodollar Loans, the
        respective amounts of each such Type of Loan and the respective lengths of
        the
        initial Interest Period therefor. Any Loans made on the Closing Date shall
        initially be ABR Loans unless the Borrower has provided the notice for
        Eurodollar Loans set forth in clause (a) above and has entered into a
        pre-funding indemnity agreement with respect to such borrowing of Eurodollar
        Loans on the Effective Date in form and substance reasonably satisfactory
        to the
        Administrative Agent. Each borrowing under the Commitments shall be in an
        amount
        equal to (x) in the case of ABR Loans, $1,000,000 or a whole multiple thereof
        (or, if the then aggregate Available Commitments are less than $1,000,000,
        such
        lesser amount) and (y) in the case of Eurodollar Loans, $5,000,000 or a whole
        multiple of $1,000,000 in excess thereof. Upon receipt of any such notice
        from
        the Borrower, the Administrative Agent shall promptly notify each Lender
        thereof. Each Lender will make the amount of its pro rata
        share of
        each borrowing available to the Administrative Agent for the account of the
        Borrower at the Funding Office prior to 12:00 Noon, New York City time, on
        the
        Borrowing Date requested by the Borrower in funds immediately available to
        the
        Administrative Agent. Such borrowing will then be made available to the Borrower
        by the Administrative Agent wiring the money in accordance with instructions
        from the Borrower with the aggregate of the amounts made available to the
        Administrative Agent by the Lenders and in like funds as received by the
        Administrative Agent.

       

      
        
          	 	
                  2.3

                	
                  Conversion
                    and Continuation Options.

                

        

      

       

      (a)    The
        Borrower may elect from time to time to convert Eurodollar Loans to ABR Loans
        by
        giving the Administrative Agent prior irrevocable notice of such election
        no
        later than 11:00 A.M., New York City time, on the proposed conversion date,
        provided
        that any
        such conversion of Eurodollar Loans may only be made on the last day of an
        Interest Period with respect thereto. The Borrower may elect from time to
        time
        to convert ABR Loans to Eurodollar Loans by giving the Administrative Agent
        prior irrevocable notice of such election no later than 11:00 A.M., New York
        City time, on the third Business Day preceding the proposed conversion date
        (which notice shall specify the length of the initial Interest Period therefor),
        provided
        that no
        ABR Loan may be converted into a Eurodollar Loan when any Event of Default
        has
        occurred and is continuing and the Administrative Agent or the Majority Lenders
        have determined in its or their sole discretion not to permit such conversions.
        Upon receipt of any such notice the Administrative Agent shall promptly notify
        each relevant Lender thereof.

      
        
          
          

        

        
          18

          
            

          

        

        
          
          

        

      

       

      (b)    Any
        Eurodollar Loan may be continued as such upon the expiration of the then
        current
        Interest Period with respect thereto by the Borrower giving irrevocable notice
        to the Administrative Agent, in accordance with the applicable provisions
        of the
        term “Interest Period” set forth in Section 1.1, of the length of the next
        Interest Period to be applicable to such Loans, provided
        that no
        Eurodollar Loan may be continued as such when any Event of Default has occurred
        and is continuing and the Administrative Agent has or the Majority Lenders
        have
        determined in its or their sole discretion not to permit such continuations,
        and
provided,
        further,
        that if
        the Borrower shall fail to give any required notice as described above in
        this
        paragraph or if such continuation is not permitted pursuant to the preceding
        proviso such Loans shall be automatically converted to ABR Loans on the last
        day
        of such then expiring Interest Period. Upon receipt of any such notice the
        Administrative Agent shall promptly notify each relevant Lender
        thereof.

       

      
        	 	
                2.4

              	
                Fees.

              

      

      

      (a)    Commitment
        Fees.
        The
        Borrower agrees to pay to each Lender, through the Administrative Agent,
        on each
        Quarterly Payment Date and on the Termination Date, in immediately available
        funds, a commitment fee (a “Commitment Fee”) calculated on the unused Commitment
        by multiplying the applicable percentage (the “Commitment Fee Percentage”) set
        forth below by the average daily Available Commitment of such Lender during
        the
        preceding quarter (or shorter period commencing with the date hereof and/or
        ending with the Termination Date):

      

      
        	
                Senior
                  Unsecured Long-Term Debt Rating

              	
                Commitment
                  Fee Percentage

              
	
                A-
                  or A3 or better

              	
                0.070
                  percent per annum

              
	
                BBB+
                  or Baa1

              	
                0.080
                  percent per annum

              
	
                BBB
                  or Baa2

              	
                0.100
                  percent per annum

              
	
                BBB-
                  or Baa3

              	
                0.125
                  percent per annum

              
	
                Below
                  BBB- or Baa3

              	
                0.150
                  percent per annum

              

      

       

      (b)    Utilization
        Fees. The
        Borrower agrees to pay to each Lender, through the Administrative Agent,
        on each
        Quarterly Payment Date and on the Termination Date, in immediately available
        funds, a utilization fee (a “Utilization
        Fee”)
        equal
        to
        10.0 basis points (0.100%) per annum for each day on which the Commitment
        Utilization Percentage equals or exceeds 50%, which fee shall accrue on the
        daily amount of the Used Commitment of such Lender for each Excess Utilization
        Day during the period from and including the Effective Date to but excluding
        the
        date on which such Lender’s Commitment terminates; provided
        that, if
        such Lender continues to have any outstanding Loans after its Commitment
        terminates, then such utilization fee shall continue to accrue on the daily
        aggregate principal amount of such Lender’s Loans for each Excess Utilization
        Day from and including the date on which its Commitment terminates to but
        excluding the date on which such Lender ceases to have any outstanding
        Loans.

      

      (c)    Other
        Fees.
        The
        Borrower agrees to pay to the Administrative Agent the fees in the amounts
        and
        on the dates previously agreed to in writing by the Borrower and the
        Administrative Agent.

      
        
          
          

        

        
          19

          
            

          

        

        
          
          

        

      

       

      
        	 	
                2.5

              	
                Optional
                  Termination and Reduction of
                  Commitments.

              

      

      

      (a)    Subject
        to Section 2.9(b), the Borrower may permanently terminate, or from time to
        time in part permanently reduce, the Total Commitments upon at least three
        Business Days prior written notice to the Administrative Agent (who shall
        promptly forward a copy thereof to each Lender and which notice may be
        revocable; provided, that (i) such notice is only revocable during the three
        Business Day period beginning on the date that such notice is given to the
        Administrative Agent and ending on the stated date of such Commitment reduction
        and (ii) the Borrower shall indemnify the Lenders pursuant to Section 2.12
        as a
        result of the Borrower’s revocation of such notice). Such notice shall specify
        the date and the amount of the termination or reduction of the Total
        Commitments. Each such partial reduction of the Total Commitments shall be
        in a
        minimum aggregate principal amount of $5,000,000 and in an integral multiple
        of
        $1,000,000.

      

      (b)    On
        the
        Termination Date, the Total Commitments shall be zero.

      

      (c)    Each
        reduction in the Total Commitments pursuant to this paragraph shall be made
        ratably among the Lenders in accordance with their respective
        Commitments.

      

      (d)    Simultaneously
        with any termination or reduction of the Commitments pursuant to this paragraph,
        the Borrower shall pay to the Administrative Agent for the accounts of the
        Lenders the Commitment Fees on the amount of the Total Commitments, so
        terminated or reduced, accrued through the date of such termination or
        reduction.

      

      
        	 	
                2.6

              	
                Limitations
                  on Eurodollar Tranches.

              

      

      

      Notwithstanding
        anything to the contrary in this Agreement, all borrowings, conversions and
        continuations of Eurodollar Loans and all selections of Interest Periods
        shall
        be in such amounts and be made pursuant to such elections so that, (a) after
        giving effect thereto, the aggregate principal amount of the Eurodollar Loans
        comprising each Eurodollar Tranche shall be equal to $5,000,000 or a whole
        multiple of $1,000,000 in excess thereof and (b) no more than ten Eurodollar
        Tranches shall be outstanding at any one time.

      

      
        	 	
                2.7

              	
                Interest
                  Rates and Payment Dates.

              

      

      

      (a)    Each
        Eurodollar Loan shall bear interest for each day during each Interest Period
        with respect thereto at a rate per annum equal to the Eurodollar Rate determined
        for such day plus the Applicable Margin.

      

      (b)    Each
        ABR
        Loan shall bear interest at a rate per annum equal to the ABR.

      

      (c)    If
        all or
        a portion of the principal amount of any Loan shall not be paid when due
        (whether at the stated maturity, by acceleration or otherwise), all outstanding
        Loans shall bear interest at a rate per annum equal to the rate that would
        otherwise be applicable thereto pursuant to the foregoing provisions of this
        Section plus 2%, and (ii) if all or a portion of any interest payable on
        any
        Loan or any commitment fee or other amount payable hereunder shall not be
        paid
        when due (whether at the stated maturity, by acceleration or otherwise),
        such
        overdue amount shall bear interest at a rate per annum equal to the rate
        then
        applicable to ABR Loans plus 2%, in each case, with respect to clauses (i)
        and
        (ii) above, from the date of such non-payment until such amount is paid in
        full
        (as well after as before judgment).

      
        
          
          

        

        
          20

          
            

          

        

        
          
          

        

      

       

      (d)    Interest
        shall be payable in arrears on each Interest Payment Date, provided that
        interest accruing pursuant to paragraph (c) of this Section shall be payable
        from time to time on demand.

      

      
        	 	
                2.8

              	
                Alternate
                  Rate of Interest for Eurodollar Loans.

              

      

      

      In
        the
        event, and on each occasion, that on the day two Business Days prior to the
        commencement of any Interest Period for a Eurodollar Loan, the Administrative
        Agent shall have determined that dollar deposits in the amount of the requested
        principal amount of such Eurodollar Loan are not generally available in the
        London interbank market, or that dollar deposits are not generally available
        in
        the London interbank market for the requested Interest Period, or that the
        rate
        at which such dollar deposits are being offered will not adequately and fairly
        reflect the cost to any Lender of making or maintaining such Eurodollar Loan
        during such Interest Period, or that reasonable means do not exist for
        ascertaining the Eurodollar Rate, the Administrative Agent shall, as soon
        as
        practicable thereafter, give telecopy notice of such determination, stating
        the
        specific reasons therefor, to the Borrower and the Lenders. In the event
        of any
        such determination, any request by the Borrower for a Eurodollar Loan shall,
        until the circumstances giving rise to such notice no longer exist, be deemed
        to
        be a request for an ABR Loan. Each determination by the Administrative Agent
        hereunder shall be conclusive absent manifest error.

       

      
        	 	
                2.9

              	
                Mandatory
                  and Optional Prepayment of Loans.

              

      

      

      (a)    Prior
        to
        the Termination Date, the Borrower shall have the right at any time to prepay
        any Borrowing, in whole or in part, subject to the requirements of
        Section 2.12 and Section 2.13 but otherwise without premium or
        penalty, but prepayment of Eurodollar Loans shall require at least three
        Business Days prior written notice to the Administrative Agent; provided,
        however,
        that
        each such partial prepayment shall be in an integral multiple of $1,000,000
        and
        in a minimum aggregate principal amount of $2,000,000. Each notice of prepayment
        shall specify the prepayment date and the aggregate principal amount of each
        Borrowing to be prepaid and may be revocable; provided,
        that
        (i) such notice is only revocable during the three Business Day period beginning
        on the date that such notice is given to the Administrative Agent and ending
        on
        the stated date of such prepayment and (ii) the Borrower shall indemnify
        the
        Lenders pursuant to Section 2.12 as a result of the Borrower’s revocation of
        such notice.

      

      (b)    On
        the
        date of any termination or reduction of the Total Commitments pursuant to
        Section 2.5(a), the Borrower shall pay or prepay the Loans or cash
        collateralize the Letters of Credit in a manner satisfactory to the
        Administrative Agent to the extent necessary in order that the aggregate
        Revolving Extensions of Credit outstanding will not exceed the Total Commitments
        following such termination or reduction. Subject to the foregoing and the
        requirements of Section 2.5, any such payment or prepayment shall be
        applied to such Borrowing or Borrowings as the Borrower shall select. All
        prepayments under this paragraph shall be subject to Section 2.12 and
        Section 2.13.

      

      (c)    All
        Loans, together with accrued and unpaid interest thereon, shall be due and
        payable in full on the Termination Date.

      
        
          
          

        

        
          21

          
            

          

        

        
          
          

        

      

       

      (d)    All
        prepayments of Loans (other than optional prepayments of ABR Loans) under
        this
        Section 2.9 shall be accompanied by accrued interest on the principal
        amount being prepaid to the date of prepayment.

      

      
        	 	
                2.10

              	
                Reserve
                  Requirements; Change in
                  Circumstances.

              

      

      

      (a)    Notwithstanding
        any other provision herein, if after the date of this Agreement any Regulatory
        Change (i) shall change the basis of taxation of payments to any Lender of
        the principal of or interest on any Eurodollar Loan made by such Lender or
        any
        other fees or amounts payable hereunder (other
        than
        (x) Taxes imposed on or measured by the capital, receipts or franchises of
        such Lender or the overall gross or net income of such Lender by the
        jurisdiction in which such Lender has its principal office or by any political
        subdivision or taxing authority therein (or any Tax which is enacted or adopted
        by such jurisdiction, political subdivision, or taxing authority as a direct
        substitute for any such Taxes) or (y) any Tax, assessment, or other
        governmental charge that would not have been imposed but for the failure
        of any
        Lender to comply with any certification, information, documentation, or other
        reporting requirement), (ii) shall impose, modify, or deem applicable any
        reserve, special deposit, or similar requirement with respect to any Eurodollar
        Loan or any Letter of Credit (or participating interest therein), against
        assets
        of, deposits with or for the account of, or credit extended by, such Lender
        under this Agreement, or (iii) with respect to any Eurodollar Loan, shall
        impose on such Lender or the London interbank market any other condition
        affecting this Agreement or any Eurodollar Loan made by such Lender, and
        the
        result of any of the foregoing shall be to increase the cost to such Lender
        of
        maintaining its Commitment or of making or maintaining any Eurodollar Loan
        or to
        reduce the amount of any sum received or receivable by such Lender hereunder
        (whether of principal, interest, or otherwise) in respect thereof by an amount
        deemed in good faith by such Lender to be material, then the Borrower shall
        pay
        to the Administrative Agent for the account of such Lender such additional
        amount or amounts as will compensate such Lender for such increase or reduction
        to such Lender, to the extent such amounts have not been included in the
        calculation of the Eurodollar Rate, upon demand by such Lender (through the
        Administrative Agent).

      

      (b)    If
        any
        Lender shall have determined in good faith that any Regulatory Change regarding
        capital adequacy or compliance by any Lender (or its parent or any lending
        office of such Lender) with any request or directive regarding capital adequacy
        (whether or not having the force of Law) of any Tribunal, monetary authority,
        central bank, or comparable agency, has or would have the effect of reducing
        the
        rate of return on such Lender’s (or its parent’s) capital as a consequence of
        its obligations hereunder to a level below that which such Lender (or its
        parent) could have achieved but for such Regulatory Change, or compliance
        (taking into consideration such Lender’s policies with respect to capital
        adequacy) by an amount deemed in good faith by such Lender to be material,
        then
        from time to time, the Borrower shall pay to the Administrative Agent for
        the
        account of such Lender such additional amount or amounts as will compensate
        such
        Lender for such reduction upon demand by such Lender (through the Administrative
        Agent).

      

      (c)    A
        certificate of a Lender setting forth in reasonable detail (i) the
        Regulatory Change or other event giving rise to such costs, (ii) such
        amount or amounts as shall be necessary to compensate such Lender as specified
        in paragraph (a) or (b) above, as the case may be, and (ii) the
        calculation of such amount or amounts under clause (a)(i), shall be
        delivered to the Borrower (with a copy to the Administrative Agent) promptly
        after such Lender determines it is entitled to compensation under this
        Section 2.10, and shall be conclusive and binding absent manifest error.
        The Borrower shall pay to the Administrative Agent for the account of such
        Lender the amount shown as due on any such certificate within 15 days after
        its
        receipt of the same. In preparing such certificate, such Lender may employ
        such
        assumptions and allocations of costs and expenses as it shall in good faith
        deem
        reasonable and may use any reasonable averaging and attribution
        method.

      
        
          
          

        

        
          22

          
            

          

        

        
          
          

        

      

       

      (d)    Failure
        on the part of any Lender to demand compensation for any increased costs
        or
        reduction in amounts received or receivable or reduction in return on capital
        with respect to any Interest Period shall not constitute a waiver of such
        Lender’s rights to demand compensation for any increased costs or reduction in
        amounts received or receivable or reduction in return on capital with respect
        to
        such Interest Period or any other Interest Period. The protection of this
        Section 2.10 shall be available to each Lender regardless of any possible
        contention of invalidity or inapplicability of the law, regulation, or condition
        which shall have been imposed.

      

      (e)    In
        the
        event any Lender shall seek compensation pursuant to this Section 2.10, the
        Borrower may, provided
        no Event
        of Default has occurred and is continuing, give notice to such Lender (with
        copies to the Agents) that it wishes to seek one or more Persons (other than
        the
        Borrower or an Affiliate of the Borrower) to assume the Commitment of such
        Lender and to purchase its outstanding Loans and Notes (if any). Each Lender
        requesting compensation pursuant to this Section 2.10 agrees to sell its
        Commitment, Loans, Notes, and interest in this Agreement and the other Loan
        Papers to any such Person for an amount equal to the sum of the outstanding
        unpaid principal of and accrued interest on such Loans and Notes plus
        all
        other fees and amounts (including, without limitation, any compensation claimed
        by such Lender under this Section 2.10 and as to which such Lender has
        delivered the certificate required by Section 2.10(c) on or before the date
        such Commitment, Loans, and Notes are purchased) due such Lender hereunder
        calculated, in each case, to the date such Commitment, Loans, Notes (if any),
        and interest are purchased, whereupon such Lender shall have no further
        Commitment or other obligation to the Borrower hereunder or under any other
        Loan
        Paper.

      

      (f)    If
        the
        Borrower is required to pay additional amounts to or for the account of any
        Lender pursuant to this Section 2.10, then such Lender will agree to use
        reasonable efforts to change the jurisdiction of its lending office so as
        to
        eliminate or reduce any such additional payment which may thereafter accrue
        if
        such change, in the judgment of such Lender, is not otherwise disadvantageous
        to
        such Lender.

      

      (g)    Without
        prejudice to the survival of any other obligations of the Borrower hereunder,
        the obligations of the Borrower under this Section 2.10 shall survive for
        one year after the termination of this Agreement and/or the payment or
        assignment of any of the Loans or Notes.

      

      
        	 	
                2.11.

              	
                Change
                  in Legality.

              

      

      

      (a)    Notwithstanding
        anything to the contrary herein contained, if any Regulatory Change shall
        make
        it unlawful for any Lender to make or maintain any Eurodollar Loan or to
        give
        effect to its obligations as contemplated hereby, then, by written notice
        to the
        Borrower and to the Administrative Agent, such Lender may:

      

      (i)    declare
        that Eurodollar Loans will not thereafter be made by such Lender hereunder,
        whereupon the Borrower shall be prohibited from requesting Eurodollar Loans
        from
        such Lender hereunder unless such declaration is subsequently withdrawn;
        and

      
        
          
          

        

        
          23

          
            

          

        

        
          
          

        

      

       

      (ii)    if
        such
        unlawfulness shall be effective prior to the end of any Interest Period of
        an
        outstanding Eurodollar Loan, require that all outstanding Eurodollar Loans
        with
        such Interest Periods made by it be converted to ABR Loans, in which event
        (A) all such Eurodollar Loans shall be automatically converted to ABR Loans
        as of the effective date of such notice as provided in paragraph (b) below
        and (B) all payments and prepayments of principal which would otherwise
        have been applied to repay the converted Eurodollar Loans shall instead be
        applied to repay the ABR Loans resulting from the conversion of such Eurodollar
        Loans.

      

      
        	 	
                (b)

              	
                For
                  purposes of this Section 2.11, a notice to the Borrower (with a copy
                  to the Administrative Agent) by any Lender pursuant to paragraph (a)
                  above shall be effective on the date of receipt thereof by the
                  Borrower.

              

      

       

      
        	 	
                2.12

              	
                Indemnity.

              

      

       

      The
        Borrower agrees to indemnify each Lender for, and to hold each Lender harmless
        from, any loss or expense that such Lender may sustain or incur as a consequence
        of (a) default by the Borrower in making a borrowing of, conversion into or
        continuation of Eurodollar Loans after the Borrower has given a notice
        requesting the same in accordance with the provisions of this Agreement,
        (b)
        default by the Borrower in making any prepayment of or conversion from
        Eurodollar Loans after the Borrower has given a notice thereof in accordance
        with the provisions of this Agreement or (c) the making of a prepayment of
        Eurodollar Loans on a day that is not the last day of an Interest Period
        with
        respect thereto. Such indemnification may include an amount equal to the
        excess,
        if any, of (i) the amount of interest that would have accrued on the amount
        so
        prepaid, or not so borrowed, converted or continued, for the period from
        the
        date of such prepayment or of such failure to borrow, convert or continue
        to the
        last day of such Interest Period (or, in the case of a failure to borrow,
        convert or continue, the Interest Period that would have commenced on the
        date
        of such failure) in each case at the applicable rate of interest for such
        Loans
        provided for herein (excluding, however, the Applicable Margin included therein,
        if any) over
        (ii) the
        amount of interest (as reasonably determined by such Lender) that would have
        accrued to such Lender on such amount by placing such amount on deposit for
        a
        comparable period with leading banks in the interbank eurodollar market.
        A
        certificate as to any amounts payable pursuant to this Section submitted
        to the
        Borrower by any Lender shall be conclusive in the absence of manifest error.
        This covenant shall survive the termination of this Agreement and the payment
        of
        the Loans and all other amounts payable hereunder.

       

      
        	 	
                2.13

              	
                Pro
                  Rata Treatment.

              

      

      

      Unless
        otherwise specifically provided herein, each payment or prepayment of principal
        and each payment of interest with respect to a Borrowing shall be made pro
        rata
        among the Lenders in accordance with the respective principal amounts of
        the
        Loans extended by each Lender, if any, with respect to such Borrowing, and
        conversions of Loans to Loans of another Type and continuations of Loans
        that
        are Eurodollar Loans from one Interest Period, shall be made pro rata among
        the
        Lenders in accordance with their respective Commitments.

      
        
          
          

        

        
          24

          
            

          

        

        
          
          

        

      

       

      
        	 	
                1.1.

              	
                Sharing
                  of Setoffs.

              

      

      

      Each
        Lender agrees that if it shall, through the exercise of a right of banker’s
        lien, setoff, or counterclaim against the Borrower, including, but not limited
        to, a secured claim under Section 506 of Title 11 of the United States
        Code or other security or interest arising from, or in lieu of, such secured
        claim, received by such Lender under any applicable Debtor Relief Law or
        otherwise, obtain payment (voluntary or involuntary) in respect of the Note
        held
        by it (other
        than
        pursuant
        to Section 2.10 or Section 2.12) as a result of which the unpaid
        principal portion of the Note held by it shall be proportionately less than
        the
        unpaid principal portion of the Note held by any other Lender, it shall be
        deemed to have simultaneously purchased from such other Lender a participation
        in the Note held by such other Lender, so that the aggregate unpaid principal
        amount of the Note and participations in Notes held by each Lender shall
        be in
        the same proportion to the aggregate unpaid principal amount of all Notes
        then
        outstanding as the principal amount of the Note held by it prior to such
        exercise of banker’s lien, setoff, or counterclaim was to the principal amount
        of all Notes outstanding prior to such exercise of banker’s lien, setoff, or
        counterclaim; provided,
        however,
        that if
        any such purchase or purchases or adjustments shall be made pursuant to this
        Section 2.14 and the payment giving rise thereto shall thereafter be
        recovered, such purchase or purchases or adjustments shall be rescinded to
        the
        extent of such recovery and the purchase price or prices or adjustment restored
        without interest. The Borrower expressly consents to the foregoing arrangements
        and agrees that any Lender holding a participation in a Note deemed to have
        been
        so purchased may, upon the existence of an Event of Default, exercise any
        and
        all rights of banker’s lien, setoff, or counterclaim with respect to any and all
        moneys owing by the Borrower to such Lender as fully as if such Lender had
        made
        a Loan directly to the Borrower in the amount of such
        participation.

       

      
        
          	 	
                  1.2.

                	
                  Payments.

                

        

      

       

      (a)
        All
        payments (including prepayments) to be made by the Borrower hereunder, whether
        on account of principal, interest, fees or otherwise, shall be made without
        setoff or counterclaim and shall be made prior to 1:00 P.M., New York City
        time,
        on the due date thereof to the Administrative Agent, for the account of the
        Lenders, at the Funding Office, in Dollars and in immediately available funds.
        The Administrative Agent shall distribute such payments to the Lenders promptly
        upon receipt in like funds as received. If any payment hereunder (other than
        payments on the Eurodollar Loans) becomes due and payable on a day other
        than a
        Business Day, such payment shall be extended to the next succeeding Business
        Day. If any payment on a Eurodollar Loan becomes due and payable on a day
        other
        than a Business Day, the maturity thereof shall be extended to the next
        succeeding Business Day unless the result of such extension would be to extend
        such payment into another calendar month, in which event such payment shall
        be
        made on the immediately preceding Business Day. In the case of any extension
        of
        any payment of principal pursuant to the preceding two sentences, interest
        thereon shall be payable at the then applicable rate during such
        extension.

      

      (b)
        Unless the Administrative Agent shall have been notified in writing by any
        Lender prior to a borrowing that such Lender will not make the amount that
        would
        constitute its share of such borrowing available to the Administrative Agent,
        the Administrative Agent may assume that such Lender is making such amount
        available to the Administrative Agent, and the Administrative Agent may,
        in
        reliance upon such assumption, make available to the Borrower a corresponding
        amount. If such amount is not made available to the Administrative Agent
        by the
        required time on the Borrowing Date therefor, such Lender shall pay to the
        Administrative Agent, on demand, such amount with interest thereon, at a
        rate
        equal to the greater of (i) the Federal Funds Effective Rate and (ii) a rate
        determined by the Administrative Agent in accordance with banking industry
        rules
        on interbank compensation, for the period until such Lender makes such amount
        immediately available to the Administrative Agent. A certificate of the
        Administrative Agent submitted to any Lender with respect to any amounts
        owing
        under this paragraph shall be conclusive in the absence of manifest error.
        If
        such Lender’s share of such borrowing is not made available to the
        Administrative Agent by such Lender within three Business Days after such
        Borrowing Date, the Administrative Agent shall also be entitled to recover
        such
        amount with interest thereon at the rate per annum applicable to ABR Loans,
        on
        demand, from the Borrower.

      
        
          
          

        

        
          25

          
            

          

        

        
          
          

        

      

       

      (c)
        Unless the Administrative Agent shall have been notified in writing by the
        Borrower prior to the date of any payment due to be made by the Borrower
        hereunder that the Borrower will not make such payment to the Administrative
        Agent, the Administrative Agent may assume that the Borrower is making such
        payment, and the Administrative Agent may, but shall not be required to,
        in
        reliance upon such assumption, make available to the Lenders their respective
        pro rata
        shares
        of a corresponding amount. If such payment is not made to the Administrative
        Agent by the Borrower within three Business Days after such due date, the
        Administrative Agent shall be entitled to recover, on demand, from each Lender
        to which any amount which was made available pursuant to the preceding sentence,
        such amount with interest thereon at the rate per annum equal to the daily
        average Federal Funds Effective Rate. Nothing herein shall be deemed to limit
        the rights of the Administrative Agent or any Lender against the
        Borrower.

       

      
        	 	
                1.3.

              	
                Calculation
                  of Eurodollar Rate.

              

      

      

      The
        provisions of this Agreement relating to calculation of the Eurodollar Rate
        are
        included only for the purpose of determining the rate of interest or other
        amounts to be paid hereunder that are based upon such rate, it being understood
        that each Lender shall be entitled to fund and maintain its funding of all
        or
        any part of a Eurodollar Loan as it sees fit. All such determinations hereunder,
        however, shall be made as if each Lender had actually funded and maintained
        funding of each Eurodollar Loan through the purchase in the London interbank
        market of one or more eurodollar deposits, in an amount equal to the principal
        amount of such Loan and having a maturity corresponding to the Interest Period
        for such Loan.

       

      
        	 	
                1.4.

              	
                Computation
                  of Interest and Fees.

              

      

      

      (a) Interest
        and fees payable pursuant hereto shall be calculated on the basis of a 360-day
        year for the actual days elapsed, except that, with respect to (i) ABR Loans
        the
        rate of interest on which is calculated on the basis of the Prime Rate and
        (ii)
        Commitment Fees payable pursuant to Section 2.4(a), such calculations shall
        be
        made on the basis of a 365- (or 366-, as the case may be) day year for the
        actual days elapsed. The Administrative Agent shall as soon as practicable
        notify the Borrower and the relevant Lenders of each determination of a
        Eurodollar Rate. Any change in the interest rate on a Loan resulting from
        a
        change in the ABR or the Eurocurrency Reserve Requirements shall become
        effective as of the opening of business on the day on which such change becomes
        effective. The Administrative Agent shall as soon as practicable notify the
        Borrower and the relevant Lenders of the effective date and the amount of
        each
        such change in interest rate.

      

      (b) Each
        determination of an interest rate by the Administrative Agent pursuant to
        any
        provision of this Agreement shall be conclusive and binding on the Borrower
        and
        the Lenders in the absence of manifest error. The Administrative Agent shall,
        at
        the request of the Borrower, deliver to the Borrower a statement showing
        the
        quotations used by the Administrative Agent in determining any interest rate
        pursuant to Section 2.7(a).

      

      
        	 	
                1.5.

              	
                Booking
                  Loans.

              

      

      

      Any
        Lender may make, carry, or transfer Loans at, to, or for the account of any
        of
        its branch offices.

      
        
          
          

        

        
          26

          
            

          

        

        
          
          

        

      

       

      
        	 	
                1.6.

              	
                Quotation
                  of Rates.

              

      

      

      It
        is
        hereby acknowledged that the Borrower may call the Administrative Agent on
        or
        before the date on which notice of a Borrowing is to be delivered by the
        Borrower in order to receive an indication of the rate or rates then in effect,
        but that such projection shall not be binding upon the Administrative Agent
        or
        any Lender nor affect the rate of interest which thereafter is actually in
        effect when the election is made.

      

      
        	 	
                1.7.

              	
                Taxes

              

      

      

      (a)
        All
        payments made by the Borrower under this Agreement shall be made free and
        clear
        of, and without deduction or withholding for or on account of, any present
        or
        future income, stamp or other taxes, levies, imposts, duties, charges, fees,
        deductions or withholdings, now or hereafter imposed, levied, collected,
        withheld or assessed by any Tribunal, excluding net income taxes and franchise
        taxes (imposed in lieu of net income taxes) imposed on the Administrative
        Agent
        or any Lender as a result of a present or former connection between the
        Administrative Agent or such Lender and the jurisdiction of the Tribunal
        imposing such tax or any political subdivision or taxing authority thereof
        or
        therein (other than any such connection arising solely from the Administrative
        Agent or such Lender having executed, delivered or performed its obligations
        or
        received a payment under, or enforced, this Agreement or any other Loan Paper).
        If any such non-excluded taxes, levies, imposts, duties, charges, fees,
        deductions or withholdings (“Non-Excluded
        Taxes”)
        or
        Other Taxes are required to be withheld from any amounts payable to the
        Administrative Agent or any Lender hereunder, the amounts so payable to the
        Administrative Agent or such Lender shall be increased to the extent necessary
        to yield to the Administrative Agent or such Lender (after payment of all
        Non-Excluded Taxes and Other Taxes) interest or any such other amounts payable
        hereunder at the rates or in the amounts specified in this Agreement,
provided,
        however,
        that
        the Borrower shall not be required to increase any such amounts payable to
        any
        Lender with respect to any Non-Excluded Taxes (i) that are attributable to
        such
        Lender’s failure to comply with the requirements of paragraph (d) or (e) of this
        Section or (ii) that are United States withholding taxes imposed on amounts
        payable to such Lender at the time such Lender becomes a party to this
        Agreement, except to the extent that such Lender’s assignor (if any) was
        entitled, at the time of assignment, to receive additional amounts from the
        Borrower with respect to such Non-Excluded Taxes pursuant to this
        paragraph.

      

      (b)
        In
        addition, the Borrower shall pay any Other Taxes to the relevant Tribunal
        in
        accordance with applicable law.

      

      (c)
        Whenever any Non-Excluded Taxes or Other Taxes are payable by the Borrower,
        as
        promptly as possible thereafter the Borrower shall send to the Administrative
        Agent for its own account or for the account of the relevant Lender, as the
        case
        may be, a certified copy of an original official receipt received by the
        Borrower showing payment thereof. If the Borrower fails to pay any Non-Excluded
        Taxes or Other Taxes when due to the appropriate taxing authority or fails
        to
        remit to the Administrative Agent the required receipts or other required
        documentary evidence, the Borrower shall indemnify the Administrative Agent
        and
        the Lenders for any incremental taxes, interest or penalties that may become
        payable by the Administrative Agent or any Lender as a result of any such
        failure.

      
        
          
          

        

        
          27

          
            

          

        

        
          
          

        

      

       

      (d)
        Each
        Lender (or Transferee) that is not a “U.S. Person” as defined in Section
        7701(a)(30) of the Code (a “Non-U.S.
        Lender”)
        shall
        deliver to the Borrower and the Administrative Agent (or, in the case of
        a
        Participant, to the Lender from which the related participation shall have
        been
        purchased) two copies of either U.S. Internal Revenue Service Form W-8BEN
        or
        Form W-8ECI, or, in the case of a Non-U.S. Lender claiming exemption from
        U.S.
        federal withholding tax under Section 871(h) or 881(c) of the Code with respect
        to payments of “portfolio interest”, a statement substantially in the form of
        Exhibit H and a Form W-8BEN, or any subsequent versions thereof or successors
        thereto, properly completed and duly executed by such Non-U.S. Lender claiming
        complete exemption from, or a reduced rate of, U.S. federal withholding tax
        on
        all payments by the Borrower under this Agreement and the other Loan Papers.
        Such forms shall be delivered by each Non-U.S. Lender on or before the date
        it
        becomes a party to this Agreement (or, in the case of any Participant, on
        or
        before the date such Participant purchases the related participation). In
        addition, each Non-U.S. Lender shall deliver such forms promptly upon the
        obsolescence or invalidity of any form previously delivered by such Non-U.S.
        Lender. Each Non-U.S. Lender shall promptly notify the Borrower at any time
        it
        determines that it is no longer in a position to provide any previously
        delivered certificate to the Borrower (or any other form of certification
        adopted by the U.S. taxing authorities for such purpose). Notwithstanding
        any
        other provision of this paragraph, a Non-U.S. Lender shall not be required
        to
        deliver any form pursuant to this paragraph that such Non-U.S. Lender is
        not
        legally able to deliver.

      

      (e)
        A
        Lender that is entitled to an exemption from or reduction of non-U.S.
        withholding tax under the law of the jurisdiction in which the Borrower is
        located, or any treaty to which such jurisdiction is a party, with respect
        to
        payments under this Agreement shall deliver to the Borrower (with a copy
        to the
        Administrative Agent), at the time or times prescribed by applicable law
        or
        reasonably requested by the Borrower, such properly completed and executed
        documentation prescribed by applicable law as will permit such payments to
        be
        made without withholding or at a reduced rate, provided
        that
        such Lender is legally entitled to complete, execute and deliver such
        documentation and in such Lender’s judgment such completion, execution or
        submission would not materially prejudice the legal position of such
        Lender.

      

      (f)
        If
        the Administrative Agent or any Lender determines, in its sole discretion,
        that
        it has received a refund of any Non-Excluded Taxes or Other Taxes as to which
        it
        has been indemnified by the Borrower or with respect to which the Borrower
        has
        paid additional amounts pursuant to this Section 2.20, it shall pay over
        such
        refund to the Borrower (but only to the extent of indemnity payments made,
        or
        additional amounts paid, by the Borrower under this Section 2.20 with respect
        to
        the Non-Excluded Taxes or Other Taxes giving rise to such refund), net of
        all
        out-of-pocket expenses of the Administrative Agent or such Lender and without
        interest (other than any interest paid by the relevant Tribunal with respect
        to
        such refund); provided,
        that
        the Borrower, upon the request of the Administrative Agent or such Lender,
        agrees to repay the amount paid over to the Borrower (plus any penalties,
        interest or other charges imposed by the relevant Tribunal) to the
        Administrative Agent or such Lender in the event the Administrative Agent
        or
        such Lender is required to repay such refund to such Tribunal. This paragraph
        shall not be construed to require the Administrative Agent or any Lender
        to make
        available its tax returns (or any other information relating to its taxes
        which
        it deems confidential) to the Borrower or any other Person.

      

      (g)
        The
        agreements in this Section shall survive the termination of this Agreement
        and
        the payment of the Loans and all other amounts payable
        hereunder.

      
        
          
          

        

        
          28

          
            

          

        

        
          
          

        

      

       

      SECTION
        2

      

      LETTERS
        OF CREDIT

      

      2.1.
        L/C
        Commitment.
        (a)
        Subject
        to the terms and conditions hereof, the Issuing Lender, in reliance on the
        agreements of the other Lenders set forth in Section 3.4(a), agrees to issue
        letters of credit (“Letters of Credit”) for the account of the Borrower on any
        Business Day during the Commitment Period in such form as may be approved
        from
        time to time by the Issuing Lender; provided that the Issuing Lender shall
        have
        no obligation to issue any Letter of Credit if, after giving effect to such
        issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii)
        any
        Lender’s Revolving Extensions of Credit would exceed such Lender’s Commitment.
        Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire
        no
        later than the earlier of (x) the first anniversary of its date of issuance
        and
        (y) the date that is five Business Days prior to the Termination Date, provided
        that any Letter of Credit with a one-year term may provide for the renewal
        thereof for additional one-year periods (which shall in no event extend beyond
        the date referred to in clause (y) above).

      

      (b)
        The
        Issuing Lender shall not at any time be obligated to issue any Letter of
        Credit
        if such issuance would conflict with, or cause the Issuing Lender or the
        L/C
        Participant to exceed any limits imposed by, any applicable Law.

      

      2.2.
        Procedure
        for Issuance of Letter of Credit.
        The
        Borrower may from time to time request that the Issuing Lender issue a Letter
        of
        Credit by delivering to the Issuing Lender at its address for notices specified
        herein an Application therefor, completed to the satisfaction of the Issuing
        Lender, and such other certificates, documents and other papers and information
        as the Issuing Lender may reasonably request. Upon receipt of any Application,
        the Issuing Lender will process such Application and the certificates, documents
        and other papers and information delivered to it in connection therewith
        in
        accordance with its customary procedures and shall promptly issue the Letter
        of
        Credit requested thereby (but in no event shall the Issuing Lender be required
        to issue any Letter of Credit earlier than three Business Days after its
        receipt
        of the Application therefor and all such other certificates, documents and
        other
        papers and information relating thereto) by issuing the original of such
        Letter
        of Credit to the beneficiary thereof or as otherwise may be agreed to by
        the
        Issuing Lender and the Borrower. The Issuing Lender shall furnish a copy
        of such
        Letter of Credit to the Borrower promptly following the issuance thereof.
        The
        Issuing Lender shall promptly furnish to the Administrative Agent, which
        shall
        in turn promptly furnish to the Lenders, notice of the issuance of each Letter
        of Credit (including the amount thereof).

      

      2.3.
        Fees
        and Other Charges.
        (b)
        The
        Borrower will pay a fee on all outstanding Letters of Credit at a per annum
        rate
        equal to the Applicable Margin then in effect, shared ratably among the Lenders
        and payable quarterly in arrears on each Quarterly Payment Date and on the
        Termination Date after the issuance date. In addition, the Borrower shall
        pay to
        the Issuing Lender for its own account a fronting fee of 0.125% per annum
        on the
        undrawn and unexpired amount of each Letter of Credit, payable quarterly
        in
        arrears on each Quarterly Payment Date and on the Termination Date after
        the
        issuance date.

      

      (b) In
        addition to the foregoing fees, the Borrower shall pay or reimburse the Issuing
        Lender for such normal and customary costs and expenses as are incurred or
        charged by the Issuing Lender in issuing, negotiating, effecting payment
        under,
        amending or otherwise administering any Letter of Credit.

      
        
          
          

        

        
          29

          
            

          

        

        
          
          

        

      

       

      2.4.
        L/C
        Participations.
        (c)
        The
        Issuing Lender irrevocably agrees to grant and hereby grants to each L/C
        Participant, and, to induce the Issuing Lender to issue Letters of Credit,
        each
        L/C Participant irrevocably agrees to accept and purchase and hereby accepts
        and
        purchases from the Issuing Lender, on the terms and conditions set forth
        below,
        for such L/C Participant’s own account and risk an undivided interest equal to
        such L/C Participant’s Revolving Percentage in the Issuing Lender’s obligations
        and rights under and in respect of each Letter of Credit and the amount of
        each
        draft paid by the Issuing Lender thereunder. Each L/C Participant agrees
        with
        the Issuing Lender that, if a draft is paid under any Letter of Credit for
        which
        the Issuing Lender are not reimbursed in full by the Borrower in accordance
        with
        the terms of this Agreement, such L/C Participant shall pay to the Issuing
        Lender upon demand at the Issuing Lender’s address for notices specified herein
        an amount equal to such L/C Participant’s Percentage of the amount of such
        draft, or any part thereof, that is not so reimbursed. Each L/C Participant’s
        obligation to pay such amount shall be absolute and unconditional and shall
        not
        be affected by any circumstance, including (i) any setoff, counterclaim,
        recoupment, defense or other right that such L/C Participant may have against
        the Issuing Lender, the Borrower or any other Person for any reason whatsoever,
        (ii) the occurrence or continuance of a Default or an Event of Default or
        the
        failure to satisfy any of the other conditions specified in Section 5, (iii)
        any
        adverse change in the condition (financial or otherwise) of the Borrower,
        (iv)
        any breach of this Agreement or any other Loan Document by the Borrower,
        any
        other Company or any other L/C Participant or (v) any other circumstance,
        happening or event whatsoever, whether or not similar to any of the
        foregoing.

      

      (b)
        If
        any amount required to be paid by any L/C Participant to the Issuing Lender
        pursuant to Section 3.4(a) in respect of any unreimbursed portion of any
        payment
        made by the Issuing Lender under any Letter of Credit is paid to the Issuing
        Lender within three Business Days after the date such payment is due, such
        L/C
        Participant shall pay to the Issuing Lender on demand an amount equal to
        the
        product of (i) such amount, times (ii) the daily average Federal Funds Effective
        Rate during the period from and including the date such payment is required
        to
        the date on which such payment is immediately available to the Issuing Lender,
        times (iii) a fraction the numerator of which is the number of days that
        elapse
        during such period and the denominator of which is 360. If any such amount
        required to be paid by any L/C Participant pursuant to Section 3.4(a) is
        not
        made available to the Issuing Lender by such L/C Participant within three
        Business Days after the date such payment is due, the Issuing Lender shall
        be
        entitled to recover from such L/C Participant, on demand, such amount with
        interest thereon calculated from such due date at the rate per annum applicable
        to ABR Loans. A certificate of the Issuing Lender submitted to any L/C
        Participant with respect to any amounts owing under this Section shall be
        conclusive in the absence of manifest error.

      

      (c)
        Whenever, at any time after the Issuing Lender has made payment under any
        Letter
        of Credit and has received from any L/C Participant its pro rata
        share of
        such payment in accordance with Section 3.4(a), the Issuing Lender receives
        any
        payment related to such Letter of Credit (whether directly from the Borrower
        or
        otherwise, including proceeds of collateral applied thereto by the Issuing
        Lender), or any payment of interest on account thereof, the Issuing Lender
        will
        distribute to such L/C Participant its pro rata
        share
        thereof; provided,
        however,
        that in
        the event that any such payment received by the Issuing Lender shall be required
        to be returned by the Issuing Lender, such L/C Participant shall return to
        the
        Issuing Lender the portion thereof previously distributed by the Issuing
        Lender
        to it.

      

      2.5.
        Reimbursement
        Obligation of the Borrower.
        If any
        draft is paid under any Letter of Credit, the Borrower shall reimburse the
        Issuing Lender for the amount of (a) the draft so paid and (b) any taxes,
        fees,
        charges or other costs or expenses incurred by such Issuing Lender in connection
        with such payment, not later than 12:00 Noon, New York City time, on (i)
        the
        Business Day that the Borrower receives notice of such draft, if such notice
        is
        received on such day prior to 10:00 A.M., New York City time, or (ii) if
        clause
        (i) above does not apply, the Business Day immediately following the day
        that
        the Borrower receives such notice. Each such payment may be paid using a
        Loan to
        the extent otherwise permitted under this Agreement and shall be made to
        such
        Issuing Lender at its address for notices referred to herein in Dollars and
        in
        immediately available funds. Interest shall be payable on any such amounts
        from
        the date on which the relevant draft is paid until payment in full at the
        rate
        set forth in (x) until the Business Day next succeeding the date of the relevant
        notice, Section 2.7(b) and (y) thereafter, Section 2.7(c).

      
        
          
          

        

        
          30

          
            

          

        

        
          
          

        

      

       

      2.6.
        Obligations
        Absolute.
        The
        Borrower’s obligations under this Section 3 shall be absolute and unconditional
        under any and all circumstances and irrespective of any setoff, counterclaim
        or
        defense to payment that the Borrower may have or have had against the Issuing
        Lenders, any beneficiary of a Letter of Credit or any other Person. The Borrower
        also agrees with the Issuing Lenders that the Issuing Lenders shall not be
        responsible for, and the Borrower’s Reimbursement Obligations under Section 3.5
        shall not be affected by, among other things, the validity or genuineness
        of
        documents or of any endorsements thereon, even though such documents shall
        in
        fact prove to be invalid, fraudulent or forged, or any dispute between or
        among
        the Borrower and any beneficiary of any Letter of Credit or any other party
        to
        which such Letter of Credit may be transferred or any claims whatsoever of
        the
        Borrower against any beneficiary of such Letter of Credit or any such
        transferee. The Issuing Lenders shall not be liable for any error, omission,
        interruption or delay in transmission, dispatch or delivery of any message
        or
        advice, however transmitted, in connection with any Letter of Credit, except
        for
        errors or omissions found by a final and nonappealable decision of a court
        of
        competent jurisdiction to have resulted from the gross negligence or willful
        misconduct of the Issuing Lenders. The Borrower agrees that any action taken
        or
        omitted by the Issuing Lenders under or in connection with any Letter of
        Credit
        or the related drafts or documents, if done in the absence of gross negligence
        or willful misconduct, shall be binding on the Borrower and shall not result
        in
        any liability of the Issuing Lender to the Borrower.

      

      2.7.
        Letter
        of Credit Payments.
        If any
        draft shall be presented for payment under any Letter of Credit, the Issuing
        Lender shall promptly notify the Borrower of the date and amount thereof.
        The
        responsibility of the Issuing Lender to the Borrower in connection with any
        draft presented for payment under any Letter of Credit shall, in addition
        to any
        payment obligation expressly provided for in such Letter of Credit, be limited
        to determining that the documents (including each draft) delivered under
        such
        Letter of Credit in connection with such presentment are substantially in
        conformity with such Letter of Credit.

      

      2.8.
        Applications.
        To the
        extent that any provision of any Application related to any Letter of Credit
        is
        inconsistent with the provisions of this Section 3, the provisions of this
        Section 3 shall apply.

      

      SECTION
        3

      

      REPRESENTATIONS
        AND WARRANTIES.

      

      The
        Borrower represents and warrants to the Agents and the Lenders as
        follows:

       

      
        	 	
                3.1.

              	
                Purpose
                  of Credit Facility.

              

      

      

      The
        Borrower will use Loan proceeds only to refinance the Existing Credit Agreement
        and for the working capital needs and general corporate purposes (including
        Acquisitions and capital expenditures) of the Companies. The proceeds loaned
        hereunder will not be used directly or indirectly for the purpose of purchasing
        or carrying, or for the purpose of extending credit to others for the purpose
        of
        purchasing or carrying, any Margin Stock, or to repay any Debt which was
        created
        for such purposes.

       

      
        	 	
                3.2.

              	
                Corporate
                  Existence, Good Standing, and
                  Authority.

              

      

      

      Each
        Company is, to the best of the Borrower’s knowledge, duly organized, validly
        existing, and in good standing under the Laws of its state of incorporation
        (such jurisdictions being identified on Exhibit 21 of Borrower’s most
        recent annual report filed with the Securities and Exchange Commission on
        Form 10-K). Except where failure would not reasonably be expected to have a
        Material Adverse Effect, each Company (a) is duly qualified to transact
        business and is in good standing as a foreign corporation in each jurisdiction
        where the nature and extent of its business and properties require the same,
        and
        (b) possesses all requisite authority, power, licenses, permits, and
        franchises to conduct its business as is now being, or is contemplated herein
        to
        be, conducted. The Borrower possesses all requisite authority, power, licenses,
        permits, and franchises to execute, deliver, and comply with the terms of
        the
        Loan Papers, all which have been duly authorized and approved by all necessary
        corporate action and, except where failure would not reasonably be expected
        to
        have a Material Adverse Effect, for which no approval or consent of any Person
        or Tribunal is required which has not been obtained and no filing or other
        notification to any Person or Tribunal is required which has not been properly
        completed.

      
        
          
          

        

        
          31

          
            

          

        

        
          
          

        

      

       

      
        	 	
                3.3.

              	
                Significant
                  Subsidiaries.

              

      

      

      Exhibit 21
        of the Borrower’s most recent annual report filed with the Securities and
        Exchange Commission on Form 10-K sets forth, in all material respects, all
        existing Significant Subsidiaries of the Borrower and correctly lists, as
        to
        each Significant Subsidiary, (a) its name and (b) its jurisdiction of
        incorporation. The shares of capital stock of each Significant Subsidiary
        owned
        by the Borrower (either directly or indirectly through another Subsidiary)
        as
        set forth on Exhibit 21 of Borrower’s most recent annual report filed with
        the Securities and Exchange Commission on Form 10-K are the duly
        authorized, validly issued, fully paid, and nonassessable shares of such
        Significant Subsidiary and are owned by the Borrower free and clear of all
        Liens
        except Permitted Liens.

       

      
        	 	
                3.4.

              	
                Financial
                  Statements.

              

      

      

      (a) The
        Current Financials were prepared in accordance with GAAP and present fairly
        the
        consolidated financial condition and the results of operations of the Companies
        as of, and for the periods ended, the dates thereof. There were no material
        (to
        the Companies taken as a whole) liabilities, direct or indirect, fixed or
        contingent, of any Company as of the date of the Current Financials which
        are
        not reflected therein. No Company has incurred any material (to the Companies
        taken as a whole) liability, direct or indirect, fixed or contingent, between
        the dates of the Current Financials and the date hereof, except in the ordinary
        course of business, such as in connection with acquisitions and financing
        activities.

      

      (b) Since
        December 31, 2005, there has been no development or event that has had or
        could
        reasonably be expected to have a Material Adverse Effect.

      

      	3.5.  	
              Compliance
                with Laws, Charter, and Agreements.

            

      

      No
        Company is, nor will the execution, delivery, performance, or observance
        of the
        Loan Papers cause any Company to be, in violation of any Laws or any Material
        Agreements to which it is a party, other
        than
        such
        violations which would not reasonably be expected to have a Material Adverse
        Effect. Neither the Borrower nor any Subsidiary is, nor will the execution,
        delivery, performance, or observance of the Loan Papers cause the Borrower
        or
        any Subsidiary to be, in violation of its bylaws or charter.

      

      
        	 	
                3.6.

              	
                Litigation.

              

      

      

      Except
        as
        described in the Form 10-Q filed by the Borrower for the quarterly period
        ended September 30, 2006 and to the knowledge of the Borrower, no Company
        is
        aware of any “Material” Litigation, and there are no Material outstanding or
        unpaid judgments against any Company. Material for purpose of this
        Section 4.6 in relation to Litigation would include any actions or
        proceedings pending or threatened against any Company before any court or
        Tribunal as to which there is a reasonable possibility of an adverse
        determination seeking damages, net of insurance proceeds to the Company,
        in
        excess of $10,000,000 in any case or 1% of Consolidated Net Worth in the
        aggregate, or which might result in any Material Adverse
        Effect.

      
        
          
          

        

        
          32

          
            

          

        

        
          
          

        

      

       

      
        	 	
                3.7.

              	
                Taxes.

              

      

      

      All
        Tax
        returns of each Company required to be filed have been filed (or extensions
        have
        been granted) except where the failure to do so could not reasonably be expected
        to have a Material Adverse Effect, and all Taxes imposed upon each Company
        which
        are shown to be due and payable thereon have been paid other
        than
        Taxes
        for which the criteria for Permitted Liens have been satisfied and Taxes
        being
        contested in good faith by proper proceedings and with respect to which such
        Company shall have, to the extent required by GAAP, set aside on its books
        adequate reserves.

       

      
        	 	
                3.8.

              	
                Environmental
                  Matters.

              

      

      

      No
        Company’s ownership of its assets violates any applicable Environmental Law,
other
        than
        such
        violations which would not reasonably be expected to have a Material Adverse
        Effect. To the Borrower’s knowledge, no investigation or review is pending or
        threatened by any Tribunal with respect to any alleged violation of any
        Environmental Law in connection with any Company’s assets which could result in
        a Material Adverse Effect. None of any Company’s assets have been used by such
        Company or, to the Borrower’s knowledge, any other Person as a dump site for any
        Hazardous Substance except where such use would not reasonably be expected
        to
        have a Material Adverse Effect.

       

      
        	 	
                3.9.

              	
                Employee
                  Benefit Plans.

              

      

      

      (a) No
        employee benefit plan as defined in the Code and Title IV of ERISA of any
        Company has incurred an accumulated funding deficiency in an amount sufficient
        to have a Material Adverse Effect, (b) no Company has incurred liability to
        the PBGC in connection with any such plan where such liability could reasonably
        be expected to have a Material Adverse Effect, (c) no Company has withdrawn
        in whole or in part from participation in a Multiemployer Plan where the
        withdrawal could reasonably be expected to have a Material Adverse Effect,
        and
        (d) to the best of the Borrower’s knowledge, no “prohibited
        transaction”
(as
        defined in section 406 of ERISA or section 4975 of the Code) or
“reportable
        event”
(as
        defined in section 4043 of ERISA) has occurred which could reasonably be
        expected to have a Material Adverse Effect.

      

      
        	 	
                3.10.

              	
                Properties;
                  Liens.

              

      

      

      Each
        Company has good and marketable (except for Permitted Liens) title to all
        its
        property reflected on the Current Financials as being owned (except for
        dispositions of property in the ordinary course of business between the date
        or
        dates thereof and the date hereof). Except for Permitted Liens, there is
        no Lien
        on any property of any Company, and the execution, delivery, performance,
        or
        observance of the Loan Papers will not require or result in the creation
        of any
        Lien other
        than
        Permitted Liens.

      

      	3.11.  	
              Holding
                Company and Investment Company
                Status.

            

      

      The
        Borrower is not (a) a “holding
        company,”
a
        “subsidiary
        company”
of
        a
“holding
        company,”
an
        “affiliate”
of
        a
“holding
        company”
or
        of a
“subsidiary
        company”
of
        a
“holding
        company,”
or
        a
“public
        utility”
within
        the meaning of the Public Utility Holding Company Act of 1935, as amended,
        (b) a “public
        utility”
within
        the meaning of the Federal Power Act, as amended, (c) an “investment
        company”
within
        the meaning of the Investment Company Act of 1940, as amended, (d) an
“investment
        adviser”
within
        the meaning of the Investment Advisers Act of 1940, as amended, or
        (e) directly subject to the jurisdiction of the Federal Communications
        Commission or any public service commission.

      
        
          
          

        

        
          33

          
            

          

        

        
          
          

        

      

       

      
        	 	
                3.12.

              	
                Transactions
                  with Affiliates.

              

      

      

      Except
        as
        disclosed on Schedule 4.12, no Company is a party to a material transaction
        with any of its Affiliates other than transactions in the ordinary course
        of
        business and upon fair and reasonable terms not materially less favorable
        than
        such Company could obtain or could become entitled to in an arm’s-length
        transaction with a Person that was not its Affiliate and other than transactions
        between or among entities each of which is either the Borrower or a Wholly
        Owned
        Subsidiary. For purposes of this Section 4.12, such transactions are
“material”
if
        they, individually or in the aggregate, require any Company to pay more than
        1
        percent of Consolidated Net Worth over the course of such
        transactions.

       

      
        	 	
                3.13.

              	
                Leases.

              

      

      

      All
        material leases under which any Company is lessee or tenant are in full force
        and effect, and no default or potential default exists thereunder which could
        result in a Material Adverse Effect.

       

      
        	 	
                3.14.

              	
                Labor
                  Matters.

              

      

      

      There
        are
        no actual or, to the Borrower’s knowledge, threatened strikes, labor disputes,
        slow downs, walkouts, or other concerted interruptions of operations by any
        Company’s employees, the effect of which would have a Material Adverse
        Effect.

       

      
        	 	
                3.15.

              	
                Insurance.

              

      

      

      Each
        Company maintains with financially sound insurance companies or associations
        (or, as to workers’ compensation or similar insurance, with an insurance fund or
        by self-insurance authorized by the jurisdictions in which it operates)
        insurance concerning its properties and businesses against such casualties
        and
        contingencies and of such types and in such amounts (and with co-insurance
        and
        deductibles) as is customary in the case of same or similar businesses;
provided,
        however, a program of self-insurance in such amounts and against such risks
        as
        are prudent and which is consistent with accepted business practice shall
        constitute compliance with this Section 4.15.

       

      
        	 	
                3.16.

              	
                Solvency.

              

      

      

      The
        Companies are, and after giving effect to the transactions contemplated under
        the Loan Papers will be, Solvent.

       

      
        	 	
                3.17.

              	
                Business.

              

      

      

      The
        business of the Borrower, as presently conducted and as proposed to be
        conducted, is set forth on Schedule 4.17.

       

      
        	 	
                3.18.

              	
                General.

              

      

      

      All
        writings exhibited or delivered to the Agents by or on behalf of any Company
        are
        and will be genuine and in all material respects what they purport and appear
        to
        be.

      
        
          
          

        

        
          34

          
            

          

        

        
          
          

        

      

       

      SECTION
        4

      

      CONDITIONS
        PRECEDENT.

      

      
        	 	
                4.1.

              	
                Initial
                  Loan.

              

      

      

      No
        Lender
        will be obligated to fund the initial Loan unless the Administrative Agent
        has
        received all of the following in form and substance satisfactory to the
        Administrative Agent and its special counsel:

      

      (a) Loan
        Papers.
        This
        Agreement and the Current Financials.

      

      (b) Secretary's
        Certificates.
        A
        certificate dated as of the date hereof, executed and delivered by the Borrower,
        certifying that (i) attached is a true, correct, and complete copy of
        (A) the Borrower’s charter, certified by the appropriate state official and
        dated a Current Date, (B) the Borrower’s bylaws, and (C) resolutions
        of the Borrower’s board of directors authorizing the execution and delivery of
        each Loan Paper to which the Borrower is a party and (ii) the officers
        whose specimen signatures appear on such certificate hold the corporate office
        indicated and are authorized to sign agreements, documents, and instruments
        on
        behalf of the Borrower.

      

      (c) Good
        Standing, Existence, and Authority.
        Certificates (dated a Current Date) relating to the Borrower’s existence, good
        standing, and authority to transact business issued by appropriate state
        officials.

      

      (d) Opinions
        of Borrower’s Counsel.
        The
        favorable opinions, dated the Effective Date and substantially in the form
        of
        Exhibit B of:

      

      (i)    Jones,
        Walker, Waechter, Poitevent, Carrere & Denegre, L.L.P., special counsel to
        the Borrower; and

      

      (ii)    Stacey
        Goff, Senior Vice President, General Counsel and Corporate Secretary of the
        Borrower.

       

      (e) Officer's
        Certificate.
        A
        certificate, dated the Effective Date and signed by the President, a Vice
        President or a Financial Officer of the Borrower, confirming compliance,
        as of
        the Effective Date, with the conditions set forth in paragraphs (a) and (b)
        of Section 5.2.

      

      (f) Fees
        and Expenses.
        Payment
        from the Borrower of all fees then due the Agents or the Lenders pursuant
        to
        this Agreement or any other agreement.

      

      (g) Existing
        Credit Agreement.
        All
        accrued unpaid amounts owing under the Existing Credit Agreement shall have
        been
        paid.

      

      (h) Financial
        Statements.
        The
        Lenders shall have received (i) audited consolidated financial statements
        of the
        Borrower for the 2003, 2004 and 2005 fiscal years and (ii) unaudited interim
        consolidated financial statements of the Borrower for each fiscal quarter
        ended
        after the date of the latest applicable financial statements delivered pursuant
        to clause (i) of this paragraph as to which such financial statements are
        available, and such financial statements shall not, in the reasonable judgment
        of the Lenders, reflect any material adverse change in the consolidated
        financial condition of the Borrower, as reflected in the financial statements
        or
        projections contained in the Confidential Information
        Memorandum.

      
        
          
          

        

        
          35

          
            

          

        

        
          
          

        

      

       

      (i) Projections.
        The
        Lenders shall have received from the Borrower financial projections for the
        fiscal years 2006 and 2007 in form and substance reasonably satisfactory to the
        Lenders.

      

      (j) Other.
        Such
        other agreements, documents, instruments, opinions, certificates, and evidences
        as the Administrative Agent may reasonably request.

       

      
        	 	
                4.2.

              	
                Each
                  Revolving Extension of Credit.

              

      

      

      In
        addition, the Lenders will not be obligated to fund any Loan and the Issuing
        Lender shall not be obligated to issue any Letter of Credit unless at the
        time
        of such funding or issuance(a) the representations and warranties made in
        the Loan Papers (other than pursuant to Section 4.4(b), which representation
        shall only be made as of the date of the initial extension of credit) are
        true
        and correct in all material respects (except to the extent that the
        representations and warranties speak to a specific date), (b) no Default or
        Event of Default shall have occurred and shall be continuing, (c) the
        funding or issuance of such Loan or Letter of Credit is permitted by Law,
        and
        (d) if requested by the Administrative Agent or the Majority Lenders, the
        Borrower shall have delivered to the Administrative Agent evidence
        substantiating any of the matters contained in this Agreement which are
        necessary to enable the Borrower to qualify for such Loan or Letter of
        Credit.

      

      Each
        Borrowing by the Borrower hereunder shall constitute a representation and
        warranty by the Borrower as of the date of such extension of credit that
        the
        conditions contained in this Section 5.2 shall have been satisfied.

       

      
        	 	
                4.3.

              	
                Materiality
                  of Conditions.

              

      

      

      Each
        condition precedent herein is material to the transactions contemplated herein,
        and time is of the essence in respect of each thereof.

       

      
        	 	
                4.4.

              	
                Waiver
                  of Conditions.

              

      

      

      Subject
        to the provisions of Section 11.14, the Majority Lenders may elect to fund
        any
        Loan without all conditions being satisfied, but this shall not be deemed
        to be
        a waiver of the requirement that each such condition precedent be satisfied
        as a
        prerequisite for any subsequent Loan, unless the Majority Lenders (or, if
        required by Section 11.14, all Lenders) specifically waive each such item
        in
        writing.

       

      SECTION
        5

      

      AFFIRMATIVE
        COVENANTS.

      

      So
        long
        as the Lenders are committed to make Loans under this Agreement and thereafter
        until the Obligation is paid and performed in full, the Borrower covenants
        and
        agrees with the Agents and the Lenders as follows:

      

      
        	 	
                5.1.

              	
                Use
                  of Proceeds.

              

      

      

      Proceeds
        of Loans advanced hereunder shall be used only as represented
        herein.

       

      
        	 	
                5.2.

              	
                Books
                  and Records.

              

      

      

      Each
        Company shall maintain, in accordance with GAAP, proper and complete books,
        records, and accounts which are necessary to prepare the financial statements
        required to be delivered hereunder.

      
        
          
          

        

        
          36

          
            

          

        

        
          
          

        

      

       

      
        	 	
                5.3.

              	
                Items
                  to be Furnished.

              

      

      

      The
        Borrower shall cause the following to be furnished to the Administrative
        Agent
        and each Lender (through the Administrative Agent):

      

      (a) Promptly
        after preparation, and no later than 120 days after the last day of each
        fiscal
        year of the Borrower, Financial Statements showing the consolidated financial
        condition and results of operations of the Companies as of, and for the year
        ended on, such last day, accompanied by (i) the opinion of KPMG LLP (or
        another firm of nationally-recognized independent certified public accountants
        reasonably acceptable to Majority Lenders), based on an audit using generally
        accepted auditing standards, that such Financial Statements were prepared
        in
        accordance with GAAP and present fairly the consolidated financial condition
        and
        results of operations of the Companies (and such accountants shall indicate
        in a
        letter to the Administrative Agent, that during their audit no Default or
        Event
        of Default not already reported was discovered or, if such Default or Event
        of
        Default was discovered, the nature and period of existence thereof) and
        (ii) a Financial Report Certificate with respect to such Financial
        Statements.

      

      (b) Promptly
        after preparation, and no later than 60 days after the last day of each of
        the
        first three quarters of each fiscal year of the Borrower, (i) Financial
        Statements showing the consolidated financial condition and results of
        operations of the Companies as of, and for the period from the beginning
        of the
        current fiscal year to, such last day, and (ii) a Financial Report
        Certificate with respect to such Financial Statements.

      

      (c) Promptly
        after preparation (and no later than the later of 15 days (a) after such
        filing is due or (b) after timely filing, if filed with the Securities and
        Exchange Commission), true copies of all regular and periodic reports, proxy
        statements and filings on Form 8-K furnished by or on behalf of any Company
        to
        stockholders generally or filed with the Securities and Exchange Commission.
        However, only registration statements covering more than 2 percent of the
        Borrower’s outstanding shares of common stock shall be required to be furnished
        unless specifically requested by the Administrative Agent.

      

      (d) Promptly
        upon receipt thereof, copies of any notices received from any Tribunal
        (including, without limitation, state regulatory agencies) relating to the
        possible violation or violation of any Law which might have a Material Adverse
        Effect.

      

      (e) Notice,
        promptly after the Borrower knows or has reason to know of, (i) the
        existence of any material Litigation as defined in Section 4.6,
        (ii) any material change in any material fact or circumstance represented
        or warranted in any Loan Paper, or (iii) a Default or Event of Default,
        specifying the nature thereof and what action the Borrower or any other Company
        has taken, is taking, or proposes to take with respect thereto.

      

      (f) Notice,
        promptly after the Borrower knows or has reason to know of, a Subsidiary
        Encumbrance, as defined in Section 7.14(b).

      

      (g) Within
        10
        days after execution thereof, copies of any supplements, modifications or
        amendments to the Equity Units documentation.

      

      (h) Promptly
        upon the Administrative Agent’s or any Lender’s reasonable request, such
        information (not otherwise required to be furnished under the Loan Papers)
        respecting the business affairs, assets, and liabilities of any Company,
        and any
        opinions, certifications, and documents, in addition to those mentioned
        herein.

      
        
          
          

        

        
          37

          
            

          

        

        
          
          

        

      

       

      
        	 	
                5.4.

              	
                Inspection.

              

      

      

      The
        Borrower shall allow the Administrative Agent and each Lender, when the
        Administrative Agent or such Lender reasonably deems necessary, at such Lender’s
        own expense if no Default then exists, to inspect any of its properties,
        to
        review reports, files, and other records and to make and take away copies
        thereof, to conduct tests or investigations, and to discuss any of its affairs,
        conditions, and finances with any director, officer, or employee of such
        Company
        from time to time, upon reasonable notice during reasonable business hours,
        or
        otherwise when reasonably considered necessary.

       

      
        	 	
                5.5.

              	
                Taxes.

              

      

      

      Each
        Company shall promptly pay when due any Taxes, except those which if unpaid
        would not cause a Material Adverse Effect, Taxes for which the criteria for
        Permitted Liens have been satisfied and Taxes being contested in good faith
        by
        proper proceedings and with respect to which such Company shall have, to
        the
        extent required by GAAP, set aside on its books adequate reserves. No Company
        shall use any proceeds of Loans to pay the wages of employees unless a timely
        payment to or deposit with the United States of America of all amounts of
        Tax
        required to be deducted and withheld with respect to such wages is also
        made.

      

      
        	 	
                5.6.

              	
                Payment
                  of Obligations.

              

      

      

      Each
        Company shall promptly pay (or renew and extend) all of its material obligations
        as the same become due except those being contested in good faith by proper
        proceedings and with respect to which such Company shall have, to the extent
        required by GAAP, set aside on its books adequate reserves, but no Company
        will
        make any voluntary prepayment of the principal of any Debt other than the
        Obligation, whether subordinate to the Obligation or not, if a Default or
        Event
        of Default exists under any Loan Paper.

       

      
        	 	
                5.7.

              	
                Expenses.

              

      

      

      The
        Borrower shall promptly pay (a) all reasonable and necessary out-of-pocket
        costs, fees, and expenses paid or incurred by the Administrative Agent incident
        to any Loan Paper (including, but not limited to, the reasonable fees and
        expenses of counsel to the Administrative Agent in connection with the
        negotiation, preparation, delivery, and execution of the Loan Papers and
        any
        related amendment, waiver, or consent); and (b) all reasonable and
        customary out-of-pocket costs, fees and expenses paid or incurred by the
        Administrative Agent and any of the Lenders in connection with the enforcement
        of the obligations of any Company or the exercise of any Rights (including,
        but
        not limited to, reasonable attorneys’ fees and court costs), all of which shall
        be a part of the Obligation. This covenant shall survive the termination
        of this
        Agreement and the payment of the Loans and all other amounts payable
        hereunder.

       

      
        	 	
                5.8.

              	
                Maintenance
                  of Existence, Assets, Business, and
                  Insurance.

              

      

      

      Except
        as
        permitted by Section 7.4, each Company shall at all times (a) maintain its
        corporate existence and authority to transact business and good standing
        in its
        jurisdiction of incorporation or organization and all other jurisdictions
        where
        the failure to so maintain could reasonably be expected to have a Material
        Adverse Effect, (b) maintain all licenses, permits, and franchises necessary
        for
        its business, where the failure to so maintain could reasonably be expected
        to
        have a Material Adverse Effect, (c) keep all of its assets which are necessary
        to its business in good working order and condition (ordinary wear and tear
        excepted), and make all necessary repairs and replacements thereto, and (d)
        maintain either (i) insurance with such insurers, in such amounts, and
        covering such risks, as shall be ordinary and customary in the industry or
        (ii) a comparable self-insurance program.

      
        
          
          

        

        
          38

          
            

          

        

        
          
          

        

      

       

      
        	 	
                5.9.

              	
                Preservation
                  and Protection of Rights.

              

      

      

      Each
        Company shall perform such acts and duly authorize, execute, acknowledge,
        deliver, file, and record any additional agreements, documents, instruments,
        and
        certificates as the Administrative Agent may reasonably deem necessary or
        appropriate in order to preserve and protect the Rights of the Agents or
        the
        Lenders under any Loan Paper.

       

      
        	 	
                5.10.

              	
                Environmental
                  Laws.

              

      

      

      Each
        Company shall conduct its business so as to comply with all applicable
        Environmental Laws and shall promptly take corrective action to remedy any
        non-compliance with any Environmental Law, except where failure to so comply
        or
        take such action would not reasonably be expected to have a Material Adverse
        Effect. Each Company shall maintain a system which, in its reasonable business
        judgment, will assure its continued compliance with Environmental Laws in
        all
        material respects.

      

      
        	 	
                5.11.

              	
                Environmental
                  Indemnification.

              

      

      

      The
        Borrower shall indemnify, protect, and hold each Indemnified Party harmless
        from
        and against any and all liabilities, obligations, losses, damages, penalties,
        actions, judgments, suits, claims, proceedings, costs, expenses (including,
        without limitation, all reasonable attorneys’ fees and legal expenses whether or
        not suit is brought), and disbursements of any kind or nature whatsoever
        which
        may at any time be imposed on, incurred by, or asserted against such Indemnified
        Parties, with respect to or as a direct or indirect result of the violation
        by
        any Company of any Environmental Law; or with respect to or as a direct or
        indirect result of any Company’s generation, manufacture, production, storage,
        release, threatened release, discharge, disposal or presence in connection
        with
        its properties of a Hazardous Substance including, without limitation,
        (a) all damages of any such use, generation, manufacture, production,
        storage, release, threatened release, discharge, disposal, or presence, or
        (b) the costs of any required or necessary environmental investigation,
        monitoring, repair, cleanup, or detoxification and the preparation and
        implementation of any closure, remedial, or other plans. The provisions of
        and
        undertakings and indemnification set forth in this paragraph shall survive
        the
        satisfaction and payment of the Obligation and termination of this Agreement
        for
        a period of time set forth in the statute of limitations in any applicable
        Environmental Law.

      

      SECTION
        6

      

      NEGATIVE
        COVENANTS.

      

      So
        long
        as the Lenders are committed to make Loans under this Agreement and thereafter
        until the Obligation is paid and performed in full, the Borrower covenants
        and
        agrees with the Agents and the Lenders as follows:

      

      
        	 	
                6.1.

              	
                Employee
                  Benefit Plans.

              

      

       

      No
        Company will, directly or indirectly, if it would have a Material Adverse
        Effect, (a) engage in any “prohibited transaction” (as defined in
        section 406 of ERISA or section 4975 of the Code), (b) permit the
        funding requirements under ERISA with respect to any employee benefit plan
        established or maintained by any Company to ever be less than the minimum
        required by ERISA, (c) permit any employee benefit plan established or
        maintained by any Company to ever be subject to involuntary termination
        proceedings, or (d) fully or partially withdraw from any Multiemployer
        Plan.

      
        
          
          

        

        
          39

          
            

          

        

        
          
          

        

      

       

      	6.2.  	
              Liens.

            

      

      No
        Company will create, incur, or suffer or permit to be created or incurred
        or to
        exist any Lien (other than Permitted Liens) upon any of its assets unless
        the
        Obligations then outstanding shall be secured by such Lien equally and ratably
        with any and all obligations and indebtedness secured by such Lien.

      

      
        	 	
                6.3.

              	
                Restricted
                  Payments.

              

      

      

      The
        Borrower will not directly or indirectly make or declare any Restricted Payment,
        unless no Default or Event of Default has occurred and is continuing or would
        result from such Restricted Payment.

       

      
        	 	
                6.4.

              	
                Mergers
                  and Consolidations.

              

      

      

      No
        Company will merge or consolidate with any Person other than (a) any merger
        or
        consolidation whereby the Borrower (or another Company, if the Borrower is
        not a
        party thereto) is the surviving corporation, (b) any merger of any Subsidiary
        into another Company, (c) any merger of a Subsidiary into another Person
        (other
        than the Borrower) if after such merger the surviving entity becomes a
        Subsidiary, (d) any sale of assets permitted by Section 7.7 that is structured
        as a merger or consolidation and (e) any Subsidiary that is not a Significant
        Subsidiary may liquidate or dissolve if the Borrower determines in good faith
        that such liquidation or dissolution is in the best interests of such Borrower
        and is not materially disadvantageous to the Lenders; provided,
        that in
        any such case, immediately after such merger or consolidation there shall
        not
        exist any Default or Event of Default.

       

      
        	 	
                6.5.

              	
                Loans,
                  Advances, and Investments.

              

      

      

      Except
        as
        permitted by Section 7.4(b), no Company will make any loan, advance,
        extension of credit, or capital contribution to, make any investment in,
        or
        purchase or commit to purchase any stock or other securities or evidences
        of
        Debt of, or interests in, any other Person, other than (a) Acquisitions,
        (b) expense accounts for and other loans and advances to directors,
        officers, and employees of such Company in the ordinary course of business
        not
        to exceed $1,000,000 in the aggregate outstanding at any time;
        (c) investments in (or secured by) obligations of the United States of
        America and agencies thereof and obligations guaranteed by the United States
        of
        America maturing within one year from the date of acquisition; (d) time
        deposits, banker's acceptances or certificates of deposit issued by any of
        the
        Lenders; (e) certificates of deposit, time deposits and banker's
        acceptances which are fully insured by the Federal Deposit Insurance Corporation
        or are issued by commercial banks organized under the Laws of the United
        States
        of America or any state thereof and having combined capital, surplus, and
        undivided profits of not less than $100,000,000 (as shown on such Person’s most
        recently published statement of condition), and which certificates of deposit
        have one of the two highest ratings from Moody’s or S&P, unless Borrower has
        a written commitment to borrow funds from such commercial bank;
        (f) commercial paper rated A-2 or better by Moody’s or P-2 or better by
        S&P; (g) investments having one of the two highest ratings from Moody’s
        or S&P; (h) extensions of credit in connection with trade receivables
        and overpayments of trade payables, in each case resulting from transactions
        in
        the ordinary course of business; (i) loans from any Company to any other
        Company, investments by any Company in any other Company, capital contributions
        by any Company to any other Company, and Guaranties by any Company of the
        Debt
        of any other Company; (j) investments in the cash surrender value of life
        insurance policies issued by Persons with a financial rating from A.M. Best
        Company (as reported in Best’s Insurance Reports) of at least “A+”; provided,
        however, that if such Person’s financial rating is downgraded to less than “A+”,
        then within 90 days following such downgrading, either (i) such cash value
        life insurance policies will be transferred to another insurance company
        with a
        financial rating of at least “A+”, (ii) such cash value insurance policies
        will be collapsed and the cash value thereof will be collected by the investing
        Company, or (iii) such investment will become an investment subject to the
        limitations of subparagraph (n) of this Section 7.5; (k) the purchase
        of equity or debt securities of any Company, including the Borrower (but,
        in the
        case of equity securities of the Borrower, only to the extent permitted by
        Section 7.3), (l) investments in the capital stock or securities of or loans
        to
        or Guaranties of the Debt of any Person engaged in the same or a similar
        line of
        business as set forth on Schedule 4.17 hereto (or any reasonable extensions
        or
        expansions thereof) (i) in which a Company possesses (or will possess,
        after such investment) an equity ownership interest in such Person or
        (ii) secured by the borrower’s interest in such business; (m) in the
        ordinary course of business, investments in the capital stock of the Rural
        Telephone Bank, National Bank for Cooperatives, or the National Rural Utilities
        Cooperative Finance Corporation, or any other lender from whom the investing
        Company is intending to borrow money which requires such Company to make
        an
        equity investment in such lender in order to so borrow; (n) Guaranties of
        the Debt of the Borrower’s Employee Stock Ownership Plan; (o) investments in
        readily marketable money market funds registered under the Investment Company
        Act of 1940 with an investment policy to hold at least 90% of its assets
        in cash
        and securities of a type described in subsections (c), (d), (e), (f), (g)
        and
        (r) of this Section 7.5; (p) investments received in connection with the
        bankruptcy or reorganization of, or settlement of delinquent accounts and
        disputes with, customers and suppliers, in each case in the ordinary course
        of
        business; (q) investments consisting of non-cash consideration with respect
        to
        sale of assets permitted by Section 7.7; (r) overnight repurchase agreements
        relating to securities described in clauses (c), (d), (e), (f) or (g) of
        this
        Section 7.5; (s) any acquisition of stock or assets to the extent that the
        consideration is paid in capital stock of the Borrower; and (t) other
        loans, advances, Guaranties, and investments which never exceed in the aggregate
        at any time 25% of Adjusted Consolidated Net Worth (valued on the basis of
        original cost, plus subsequent cash and stock additions, less any write-down
        in
        value); provided that this Section 7.5 shall not restrict the investment
        by any
        Company of assets held or managed under any Plan.

      
        
          
          

        

        
          40

          
            

          

        

        
          
          

        

      

       

      
        	 	
                6.6.

              	
                Transactions
                  with Affiliates.

              

      

      

      No
        Company will enter into any material transaction with any of its Affiliates,
        other than (a) transactions between or among entities each of which is either
        the Borrower or a Wholly Owned Subsidiary, (b) in the case of a transaction
        between the Borrower and a Subsidiary that is owned by the Borrower or between
        Subsidiaries one or both of which is not directly or indirectly wholly-owned
        by
        the Borrower, if the Borrower has determined that such transaction is in
        the
        best interests of the Borrower, and (c) in the case of any other transaction
        between a Company and a Person that is not a Company, transactions in the
        ordinary course of business and upon fair and reasonable terms not materially
        less favorable than such Company could obtain or could become entitled to
        in an
        arm’s-length transaction with a Person that was not its Affiliate. For purposes
        of this Section 7.6, such transactions are “material” if they, individually
        or in the aggregate, require any Company to pay more than 1 percent of
        Consolidated Net Worth over the course of such transactions.

       

      
        	 	
                6.7.

              	
                Sale
                  of Assets.

              

      

      

      No
        Company will sell, lease, or otherwise dispose of all or any substantial
        part of
        its assets (including a sale by merger of a Subsidiary with or into another
        Person) other than (a) sales of inventory or investments permitted under
        Section 7.5(c), (d), (e), (f), (g), (o) and (r) in the ordinary course of
        business; (b) sales of equipment for a fair and adequate consideration or
        disposal of obsolete or worn out equipment, provided
        that if
        any such equipment is sold or otherwise disposed of, and a replacement is
        necessary for the proper operation of the business of such Company, such
        Company
        will replace such equipment with adequate equipment; (c) the exchange of
        assets (other than equipment) for similar assets of equal or greater value;
        (d) the sale, discount, or transfer of delinquent notes or accounts
        receivable in the ordinary course of business for purposes of collection;
        (e)
        sales of accounts receivable and related assets or an interest therein of
        the
        type specified in the definition of “Qualified Receivables Transaction” made in
        connection with a Qualified Receivables Transaction (provided,
        that if
        at any time the aggregate principal amount of all Qualified Receivables
        Transactions exceeds $150,000,000, the Borrower shall permanently reduce
        the
        Total Commitments by the amount of such excess); (f) sales of assets from
        one
        Company to another Company; (g) dispositions of assets pursuant to sale and
        leaseback transactions so long as, after giving effect thereto and the use
        of
        proceeds thereof, the aggregate outstanding amount of Attributable Debt of
        the
        Companies shall not exceed $75,000,000; (h) other dispositions of assets
        (other than (i) accounts receivable and related assets or (ii) in connection
        with sale and leaseback transactions), provided
        that (i)
the
        Companies
        shall,
        within the period of 270 days following the consummation of each such
        transaction, apply (or cause to be applied) an amount equal to the Net Cash
        Proceeds of such disposition of assets to either (x) make Eligible
        Reinvestments
        or
        (y) permanently reduce the Total Commitments and (ii)
        notwithstanding the foregoing provisions of this clause (h), at any time
        that
        the Senior Unsecured Long-Term Debt Rating shall be lower than the Senior
        Unsecured Long-Term Debt Rating in effect as of the Effective Date (it being
        understood that the Debt Rating by S&P as of the Effective Date is BBB and
        the Debt Rating by Moody's as of the Effective Date is Baa2), the net book
        value
        of all assets disposed of pursuant to this clause (h) (net of acquisitions
        of
        similar assets) in
        all
        such transactions during any period of 12 consecutive months (commencing
        with
        the first date as of which such lower Senior
        Unsecured Long-Term Debt Rating shall have become effective) shall not exceed
        an
        amount equal to 10% of Consolidated Net Worth as set forth in the most recent
        Financial
        Statements delivered pursuant to Section 6.3 of this Agreement; and (i) to
        the extent not already permitted by another subsection of this Section 7.7,
        sales, transfers and other dispositions of assets (other than (i) accounts
        receivable and related assets or (ii) in connection with sale and leaseback
        transactions) that are not permitted by clauses (a) through (h) above;
provided
        that the
        cumulative consideration for all assets sold, transferred or otherwise disposed
        of in reliance upon this clause (i) shall not exceed $200,000,000 or 2-1/2%
        of
        the consolidated total assets of the Companies (measured as of the last day
        of
        the most recent fiscal quarter for which the relevant financial information
        is
        available), whichever is greater, in the aggregate, net of Eligible
        Reinvestments.

      
        
          
          

        

        
          41

          
            

          

        

        
          
          

        

      

       

      
        	 	
                6.8.

              	
                Compliance
                  with Laws and Documents.

              

      

      

      No
        Company will violate the provisions of any Laws or any Material Agreement
        if
        such violation alone, or when aggregated with all other such violations,
        could
        reasonably be expected to have a Material Adverse Effect. No Company will
        violate the provisions of its charter or bylaws or modify, repeal, replace,
        or
        amend any provision of its charter or bylaws if such action could reasonably
        be
        expected to have a Material Adverse Effect. The Borrower will provide to
        the
        Administrative Agent a copy of each document that materially modifies, repeals,
        replaces, or amends the charter or bylaws of the Borrower.

       

      
        	 	
                6.9.

              	
                New
                  Businesses.

              

      

      

      No
        Company will engage in any material business other than the businesses in
        which
        it is presently engaged or businesses related thereto, as described on
        Schedule 4.17.

       

      
        	 	
                6.10.

              	
                Assignment.

              

      

      

      The
        Borrower will not assign or transfer any of its Rights, duties, or obligations
        under any of the Loan Papers.

       

      
        	 	
                6.11.

              	
                Fiscal
                  Year.

              

      

      

      The
        Borrower will not change its fiscal year without the prior written consent
        of
        the Administrative Agent (which shall not be unreasonably
        withheld).

      
        
          
          

        

        
          42

          
            

          

        

        
          
          

        

      

       

      
        	 	
                6.12.

              	
                Holding
                  Company and Investment Company
                  Status.

              

      

      

      The
        Borrower will not conduct its business in such a way that it will become
        (a) a “holding company,” a “subsidiary company” of a “holding company,” an
“affiliate” of a “holding company” or of a “subsidiary company” of a “holding
        company,” or a “public utility” within the meaning of the Public Utility Holding
        Company Act of 1935, as amended, (b) a “public utility” within the meaning
        of the Federal Power Act, as amended, (c) an “investment company” within
        the meaning of the Investment Company Act of 1940, as amended, or (d) an
“investment adviser” within the meaning of the Investment Advisers Act of 1940,
        as amended.

       

      
        	 	
                6.13.

              	
                Amendments
                  to Equity Units Documentation.

              

      

      

      The
        Borrower will not amend, supplement or otherwise modify the terms and conditions
        of the documentation relating to the Equity Units except any amendment to
        the
        Equity Units’ purchase contracts to provide for the voluntary settlement by the
        Borrower of the purchase contracts via cash, stock or a combination thereof
        or
        any other amendment, supplement or modification that is not materially adverse
        to the interests of the Lenders.

       

      
        	 	
                6.14.

              	
                Financial
                  Covenants.

              

      

      

      (a) As
        calculated at the end of each fiscal quarter of the Borrower (but computed
        with
        respect to EBITDA for the four fiscal quarters ending on the last day of
        such
        fiscal quarter), the Borrower shall not permit the ratio of Consolidated
        Total
        Funded Debt to EBITDA of the Companies to exceed 4.00 to 1.0.

      

      (b) As
        calculated at the end of each fiscal quarter of the Borrower (but computed
        for
        the four fiscal quarters ending on the last day of such fiscal quarter),
        the
        Borrower shall not permit the ratio of EBITDA of the Companies to the sum
        of
        (i) consolidated interest expense of the Companies (less any non-cash
        amounts attributable to amortization of financing costs paid in a previous
        period) and (ii) dividends declared or paid by any Company (other than to
        another Company) on its preferred capital stock (but if such dividends are
        declared and paid during such four-quarter period, the amount shall not be
        counted twice) to be less than 1.50 to 1.0.

      

      For
        purposes of this Section 7.14(b), EBITDA and interest expense of any
        Subsidiary which is subject to any Subsidiary Encumbrance, shall be reduced
        to
        the extent such Subsidiary is restricted by the Subsidiary Encumbrance. As
        used
        in this Section 7.14(b), “Subsidiary Encumbrance” shall mean, so long as a
        default has occurred and is continuing under the agreement creating such
        encumbrance or restriction, any encumbrance or restriction on the ability
        of any
        Subsidiary to (i) pay dividends or make any other distributions on its
        capital stock or any other interest or participation in its profits owned
        by the
        Borrower or any Subsidiary of the Borrower, or pay any Debt owed to the Borrower
        or a Subsidiary of the Borrower, (ii) make loans or advances to, or grant
        liens in favor of, the Borrower or any of the Borrower’s Subsidiaries or
        (iii) transfer any of its properties or assets to the Borrower, except for
        such encumbrances or restrictions (A) existing on the date of this
        Agreement, (B) arising in connection with loans made to any Company by the
        Rural Electrification Administration, the Rural Utilities Service, the Rural
        Telephone Bank, or similar lenders such as the Rural Telephone Finance
        Cooperative, or (C) now existing or hereafter arising under or by reason of
        either (x) applicable Law or (y) this Agreement and the other Loan
        Papers.

      

      (c) If
        at any
        time after the date of this Agreement the Borrower enters into any financing
        arrangement with a third party which requires the Borrower or the Companies
        as a
        whole to maintain a specified minimum net worth, then such minimum net worth
        requirement or covenant shall be incorporated herein by reference and made
        a
        part of this Agreement for all purposes as of the date such financing
        arrangement is entered into by the Borrower.

      
        
          
          

        

        
          43

          
            

          

        

        
          
          

        

      

       

      Further,
        for purposes of this Section 7.14 Consolidated Total Funded Debt shall
        include any Company’s Guaranty of Funded Debt of any Person other than another
        Company or the Borrower’s Employee Stock Ownership Plan. For the first four
        quarters following any Acquisition, calculations under this Section 7.14
        shall be made on a pro forma basis as if the properties acquired in connection
        with such Acquisition were properties of the Companies during the period
        of
        calculation.

      

      SECTION
        7

      

      DEFAULT

      

      The
        term
“Event of Default” means the occurrence and continuance of any one or more of
        the following events (including the passage of time, if any, specified therefor)
        (provided
        that, if
        any such event occurs and the Lenders or Majority Lenders, as required by
        the
        provisions of Section 11.14, subsequently agree in writing that they will
        not
        exercise any remedies hereunder as a result thereof, the occurrence and
        continuance of such event shall no longer be deemed an Event of Default
        hereunder insofar as the state of facts giving rise to such event is
        concerned):

      

      
        	 	
                7.1.

              	
                Payment
                  of Obligation.

              

      

      

      The
        failure or refusal of the Borrower to pay any portion of the Obligation,
        as the
        same become due in accordance with the terms of the Loan Papers and, in the
        case
        of an interest payment, such failure or refusal continues for a period of
        5
        Business Days (no grace period being given for failure or refusal to make
        a
        principal payment). Notwithstanding the foregoing, the Borrower’s failure to
        pay, if caused solely by a wire transfer malfunction or similar problem outside
        the Borrower’s control, shall not be deemed an Event of Default so long as such
        failure to pay is promptly corrected.

       

      
        	 	
                7.2.

              	
                Covenants.

              

      

      

      (a) The
        failure or refusal of the Borrower (and, if applicable, any other Company)
        to
        punctually and properly perform, observe, and comply with any covenant,
        agreement, or condition contained in Section 6.3(e)(iii) or Section
        7.

      

      (b) The
        failure or refusal of the Borrower (and, if applicable, any other Company)
        to
        punctually and properly perform, observe, and comply with any covenant,
        agreement, or condition contained in any of the Loan Papers to which such
        Company is a party, other than covenants to pay the Obligation and the covenants
        listed in clause (a) preceding, and such failure or refusal continues for
        10 days after notice from the Administrative Agent to the Borrower.

       

      
        	 	
                7.3.

              	
                Debtor
                  Relief.

              

      

      

      The
        Companies shall not be Solvent, or any Company (a) fails to pay its Debts
        generally as they become due, (b) voluntarily seeks, consents to, or
        acquiesces in the benefit of any Debtor Relief Law, or (c) becomes a party
        to or is made the subject of any proceeding provided
        for by
        any Debtor Relief Law, other than as a creditor or claimant, that could suspend
        or otherwise adversely affect the Rights of the Agents or the Lenders granted
        in
        the Loan Papers (unless, in the event such proceeding is involuntary, the
        petition instituting same is dismissed within 60 days after its
        filing).

      
        
          
          

        

        
          44

          
            

          

        

        
          
          

        

      

       

      	7.4.  	
              Attachment.

            

      

      The
        failure of any Company to have discharged within 60 days after commencement
        any
        attachment, sequestration, or similar proceeding which, individually or together
        with all such other proceedings then pending, affects assets of such Company
        having a value (individually or collectively) of 1 percent of Consolidated
        Net
        Worth or more.

       

      
        	 	
                7.5.

              	
                Payment
                  of Judgments.

              

      

      

      Any
        Company fails to pay any judgments or orders for the payment of money in
        excess
        of 1 percent of Consolidated Net Worth (individually or collectively) rendered
        against it or any of its assets and either (a) any enforcement proceedings
        shall have been commenced by any creditor upon any such judgment or order
        or
        (b) a stay of enforcement of any such judgment or order, by reason of
        pending appeal or otherwise, shall not be in effect prior to the time its
        assets
        may be lawfully sold to satisfy such judgment.

       

      
        	 	
                7.6.

              	
                Default
                  Under Other Agreements.

              

      

      

      A
        default
        exists under any Material Agreement to which any Company is a party, the
        effect
        of which is to cause, or which permits the holder thereof (or a trustee or
        representative of such holder) to cause, unpaid consideration of at least
        2% of
        Consolidated Net Worth (individually or in the aggregate) to become due prior
        to
        the stated maturity or prior to the regularly scheduled dates of payment.
        For
        the purposes of this paragraph, a default by any Company in the payment of
        any
        obligation at its stated maturity date (taking into account any applicable
        cure
        period) shall be deemed to have caused such obligation to become due prior
        to
        such stated final maturity.

       

      
        	 	
                7.7.

              	
                Misrepresentation.

              

      

      

      The
        Administrative Agent or any Lender discovers that any statement, representation,
        or warranty in the Loan Papers, any Financial Statement of the Borrower,
        or any
        writing ever delivered to the Administrative Agent or any Lender pursuant
        to the
        Loan Papers is false, misleading, or erroneous when made, deemed made or
        delivered in any material respect.

       

      
        	 	
                7.8.

              	
                Change
                  in Control.

              

      

      

      A
        Change
        of Control shall occur. For the purpose of this Section, a “Change of Control”
shall be deemed to have occurred if:

      

      (a) a
        third
        person, including a “group” as defined in Section 13(d)(3) of the
        Securities Exchange Act of 1934, as amended (the “Exchange Act”), but excluding
        any employee benefit plan or plans of the Borrower and its Subsidiaries and
        Affiliates, becomes the beneficial owner, directly or indirectly, of thirty
        percent (30%) or more of the combined voting power of the Borrower’s
        outstanding voting securities ordinarily having the right to vote for the
        election of directors of the Borrower; or

      

      (b) the
        individuals who, as of September 30, 2006 constituted the Board of Directors
        of
        the Borrower (the “Board” generally and as of September 30, 2006 the “Incumbent
        Board”) cease for any reason to constitute at least two-thirds (2/3) of the
        Board, or in the case of a merger or consolidation of the Borrower, do not
        constitute or cease to constitute at least two-thirds (2/3) of the board of
        directors of the surviving company (or in a case where the surviving corporation
        is controlled, directly or indirectly, by another corporation or entity do
        not
        constitute or cease to constitute at least two-thirds (2/3) of the board of
        such controlling corporation or do not have or cease to have at least
        two-thirds (2/3) voting seats on any body comparable to a board of
        directors of such controlling entity or, if there is no body comparable to
        a
        board of directors, at least two-thirds (2/3) voting control of such
        controlling entity), provided
        that any
        person becoming a director (or, in the case of a controlling non-corporate
        entity, obtaining a position comparable to a director or obtaining a voting
        interest in such entity) subsequent to September 30, 2006, whose election,
        or
        nomination for election, was approved by a vote of the persons comprising
        at
        least two-thirds (2/3) of the Incumbent Board (other than an election or
        nomination of an individual whose initial assumption of office is in connection
        with an actual or threatened election contest, as such terms are used in
        Rule 14a-11 of Regulation 14A promulgated under the Exchange Act)
        shall be, for purposes of this Agreement, considered as though such person
        were
        a member of the Incumbent Board.

      
        
          
          

        

        
          45

          
            

          

        

        
          
          

        

      

       

      
        	 	
                7.9.

              	
                ERISA.

              

      

      

      Any
        one
        of the following shall have occurred: (a) any “Reportable Event” as such
        term is defined in ERISA under any Plan, (b) the appointment by an
        appropriate Tribunal of a trustee to administer any Plan, (c) the
        termination of any Plan within the meaning of Title IV of ERISA, or
        (d) any material accumulated funding deficiency within the meaning of ERISA
        exists under any Plan, and any of (a), (b), (c) or (d) results in a Material
        Adverse Effect.

       

      
        	 	
                7.10.

              	
                Validity
                  and Enforceability of Loan
                  Papers.

              

      

      

      Any
        Loan
        Paper shall, at any time after its execution and delivery and for any reason,
        cease to be in full force and effect in any material respect or be declared
        to
        be null and void or the validity or enforceability thereof be contested by
        any
        Company party thereto or any Company shall deny that it has any liability
        or
        obligations under any Loan Paper to which it is a party.

       

      SECTION
        8

      

      RIGHTS
        AND REMEDIES

      

      
        	 	
                8.1.

              	
                Remedies
                  Upon Event of Default.

              

      

      

      (a) Should
        an
        Event of Default occur and be continuing under Section 8.3, the commitment
        of
        the Lenders to make Loans shall automatically terminate and the entire unpaid
        balance of the Obligation shall automatically become due and payable without
        any
        action of any kind whatsoever.

      

      (b) Should
        any other Event of Default occur and be continuing, subject to any agreement
        among the Lenders, the Administrative Agent may (and shall upon the request
        of
        the Majority Lenders), at its (or the Majority Lenders’) election, do any one or
        more of the following: (i) If the maturity of the Obligation has not
        already been accelerated under Section 9.1(a), declare the entire unpaid
        balance
        of the Obligation (including all amounts of L/C Obligations, whether or not
        the
        beneficiaries of the then outstanding Letters of Credit shall have presented
        the
        documents required thereunder), or any part thereof, immediately due and
        payable, whereupon it shall be due and payable (and notice of such declaration
        shall promptly be given thereafter by the Administrative Agent to the Borrower);
        (ii) terminate commitments to make Loans hereunder; (iii) reduce any
        claim to judgment; (iv) exercise (or request each Lender to exercise) the
        Rights of offset or banker’s Lien against the interest of the Borrower in and to
        every account and other property of the Borrower which are in the possession
        of
        any Lender to the extent of the full amount of the Obligation; and
        (v) exercise any and all other legal or equitable Rights afforded by the
        Loan Papers, the Laws of the State of New York or any other jurisdiction
        as the
        Administrative Agent shall deem appropriate, or otherwise, including, but
        not
        limited to, the Right to bring suit or other proceedings before any Tribunal
        either for specific performance of any covenant or condition contained in
        any of
        the Loan Papers or in aid of the exercise of any Right granted to the Lenders
        in
        any of the Loan Papers. With respect to all Letters of Credit with respect
        to
        which presentment for honor shall not have occurred at the time of an
        acceleration pursuant to this paragraph, the Borrower shall at such time
        deposit
        in a cash collateral account opened by the Administrative Agent an amount
        equal
        to the aggregate then undrawn and unexpired amount of such Letters of Credit.
        Amounts held in such cash collateral account shall be applied by the
        Administrative Agent to the payment of drafts drawn under such Letters of
        Credit, and the unused portion thereof after all such Letters of Credit shall
        have expired or been fully drawn upon, if any, shall be applied to repay
        other
        obligations of the Borrower hereunder. After all such Letters of Credit shall
        have expired or been fully drawn upon, all Reimbursement Obligations shall
        have
        been satisfied and all other obligations of the Borrower hereunder shall
        have
        been paid in full, the balance, if any, in such cash collateral account shall
        be
        returned to the Borrower (or such other Person as may be lawfully entitled
        thereto). 

      
        
          
          

        

        
          46

          
            

          

        

        
          
          

        

      

       

      	8.2.  	
              Waivers.

            

      

      The
        Borrower hereby waives presentment and demand for payment, protest, notice
        of
        intention to accelerate, notice of acceleration, and notice of protest and
        nonpayment, and agrees that its liability with respect to the Obligation,
        or any
        part thereof, shall not be affected by any renewal or extension in the time
        of
        payment of the Obligation, by any indulgence, or by any release or change
        in any
        security for the payment of the Obligation.

      

      
        	 	
                8.3.

              	
                Performance
                  by Administrative Agent.

              

      

      

      If
        any
        covenant, duty, or agreement of any Company is not performed in accordance
        with
        the terms of the Loan Papers, the Administrative Agent may, at its option
        (but
        subject to the approval of the Majority Lenders), perform or attempt to perform
        such covenant, duty, or agreement on behalf of such Company. In such event,
        any
        amount expended by the Administrative Agent in such performance or attempted
        performance shall be reasonable, payable by the Borrower to the Administrative
        Agent on demand, shall become part of the Obligation, and shall bear interest
        at
        the Default Rate from the date of such expenditure by the Administrative
        Agent
        until paid. Notwithstanding the foregoing, it is expressly understood that
        the
        Administrative Agent does not assume and shall never have, except by its
        express
        written consent, any liability or responsibility for the performance of any
        covenant, duty, or agreement of any Company.

       

      
        	 	
                8.4.

              	
                Delegation
                  of Duties and Rights.

              

      

      

      The
        Administrative Agent and the Lenders may perform any of their duties or exercise
        any of their Rights under the Loan Papers by or through the Administrative
        Agent
        and their and the Administrative Agent’s officers, directors, employees,
        attorneys, agents, or other representatives.

       

      
        	 	
                8.5.

              	
                Lenders
                  Not in Control.

              

      

      

      None
        of
        the covenants or other provisions contained in this Agreement or in any other
        Loan Paper shall, or shall be deemed to, give the Agents or the Lenders the
        Right to exercise control over the assets (including, without limitation,
        real
        property), affairs, or management of any Company, the power of the Agents
        and
        the Lenders being limited to the Right to exercise the remedies provided
        in this
        Section 9.

      
        
          
          

        

        
          47

          
            

          

        

        
          
          

        

      

       

      
        	 	
                8.6.

              	
                Waivers
                  by Lenders.

              

      

      

      The
        acceptance by the Agents or the Lenders at any time and from time to time
        of
        partial payment on the Obligation shall not be deemed to be a waiver of any
        Event of Default then existing. No waiver by the Agents, the Majority Lenders,
        or all of the Lenders of any Event of Default shall be deemed to be a waiver
        of
        any other then-existing or subsequent Event of Default. No delay or omission
        by
        the Agents, the Majority Lenders, or all of the Lenders in exercising any
        Right
        under the Loan Papers shall impair such Right or be construed as a waiver
        thereof or any acquiescence therein, nor shall any single or partial exercise
        of
        any such Right preclude other or further exercise thereof, or the exercise
        of
        any other Right under the Loan Papers or otherwise.

       

      
        	 	
                8.7.

              	
                Cumulative
                  Rights.

              

      

      

      All
        Rights available to the Agents and the Lenders under the Loan Papers are
        cumulative of and in addition to all other Rights granted to the Agents and
        the
        Lenders at law or in equity, whether or not the Obligation is due and payable
        and whether or not the Agents or the Lenders have instituted any suit for
        collection, foreclosure, or other action in connection with the Loan
        Papers.

       

      
        	 	
                8.8.

              	
                Application
                  of Proceeds.

              

      

      

      Any
        and
        all proceeds ever received by the Agents or the Lenders from the exercise
        of any
        Rights pertaining to the Obligation shall be applied to the Obligations in
        the
        order and manner set forth in Section 2.15.

       

      
        	 	
                8.9.

              	
                Certain
                  Proceedings.

              

      

      

      The
        Borrower will promptly execute and deliver or cause the execution and delivery
        of, all applications, certificates, instruments, registration statements,
        and
        all other documents and papers the Agents or the Lenders may reasonably request
        in connection with the obtaining of any consent, approval, registration,
        qualification, permit, license, or authorization of any other Tribunal or
        other
        Person necessary or appropriate for the effective exercise of any Rights
        under
        the Loan Papers. Because the Borrower agrees that the Agents’ and the Lenders’
remedies at Law for failure of the Borrower to comply with the provisions
        of
        this paragraph would be inadequate and that such failure would not be adequately
        compensable in damages, the Borrower agrees that the covenants of this paragraph
        may be specifically enforced.

       

      
        	 	
                8.10.

              	
                Setoff.

              

      

      

      If
        an
        Event of Default shall have occurred and is continuing, each Lender is hereby
        authorized at any time and from time to time, without prior notice to the
        Borrower (any such notice being hereby expressly waived by the Borrower),
        to set
        off and apply any and all deposits (general or special, time or demand,
        provisional or final) at any time held and any other indebtedness at any
        time
        owing by such Lender to or for the credit or the account of the Borrower
        against
        any portion of the Obligation owing to such Lender, irrespective of whether
        or
        not all of the Obligation, or any part thereof, shall be then due. Each Lender
        agrees promptly to notify the Borrower (with a copy to the Administrative
        Agent)
        after any such setoff and application, provided
        that the
        failure to give such notice shall not affect the validity of such setoff
        and
        application. The rights and remedies of each Lender hereunder are in addition
        to
        other rights and remedies (including, without limitation, other rights of
        setoff) which such Lender may have.

      
        
          
          

        

        
          48

          
            

          

        

        
          
          

        

      

       

      SECTION
        9

      

      THE
        AGENTS.

      

      
        	 	
                9.1.

              	
                Appointment.

              

      

      

      Each
        Lender hereby irrevocably designates and appoints the Administrative Agent
        as
        the agent of such Lender under this Agreement and the other Loan Papers,
        and
        each such Lender irrevocably authorizes the Administrative Agent, in such
        capacity, to take such action on its behalf under the provisions of this
        Agreement and the other Loan Papers and to exercise such powers and perform
        such
        duties as are expressly delegated to the Administrative Agent by the terms
        of
        this Agreement and the other Loan Papers, together with such other powers
        as are
        reasonably incidental thereto. Notwithstanding any provision to the contrary
        elsewhere in this Agreement, the Administrative Agent shall not have any
        duties
        or responsibilities, except those expressly set forth herein, or any fiduciary
        relationship with any Lender, and no implied covenants, functions,
        responsibilities, duties, obligations or liabilities shall be read into this
        Agreement or any other Loan Paper or otherwise exist against the Administrative
        Agent.

       

      
        	 	
                9.2.

              	
                Delegation
                  of Duties.

              

      

      

      The
        Administrative Agent may execute any of its duties under this Agreement and
        the
        other Loan Papers by or through agents or attorneys-in-fact and shall be
        entitled to advice of counsel concerning all matters pertaining to such duties.
        The Administrative Agent shall not be responsible for the negligence or
        misconduct of any agents or attorneys in-fact selected by it with reasonable
        care.

       

      
        	 	
                9.3.

              	
                Exculpatory
                  Provisions.

              

      

      

      Neither
        any Agent nor any of their respective officers, directors, employees, agents,
        attorneys-in-fact or affiliates shall be (i) liable for any action lawfully
        taken or omitted to be taken by it or such Person under or in connection
        with
        this Agreement or any other Loan Paper (except to the extent that any of
        the
        foregoing are found by a final and nonappealable decision of a court of
        competent jurisdiction to have resulted from its or such Person’s own gross
        negligence or willful misconduct) or (ii) responsible in any manner to any
        of
        the Lenders for any recitals, statements, representations or warranties made
        by
        any Company or any officer thereof contained in this Agreement or any other
        Loan
        Paper or in any certificate, report, statement or other document referred
        to or
        provided for in, or received by the Agents under or in connection with, this
        Agreement or any other Loan Paper or for the value, validity, effectiveness,
        genuineness, enforceability or sufficiency of this Agreement or any other
        Loan
        Paper or for any failure of any Company a party thereto to perform its
        obligations hereunder or thereunder. The Agents shall not be under any
        obligation to any Lender to ascertain or to inquire as to the observance
        or
        performance of any of the agreements contained in, or conditions of, this
        Agreement or any other Loan Paper, or to inspect the properties, books or
        records of any Company.

       

      
        	 	
                9.4.

              	
                Reliance
                  of Administrative Agent.

              

      

      

      The
        Administrative Agent shall be entitled to rely, and shall be fully protected
        in
        relying, upon any instrument, writing, resolution, notice, consent, certificate,
        affidavit, letter, telecopy, telex or teletype message, statement, order
        or
        other document or conversation believed by it to be genuine and correct and
        to
        have been signed, sent or made by the proper Person or Persons and upon advice
        and statements of legal counsel (including counsel to the Borrower), independent
        accountants and other experts selected by the Administrative Agent. The
        Administrative Agent may deem and treat the payee of any Note as the owner
        thereof for all purposes unless a written notice of assignment, negotiation
        or
        transfer thereof shall have been filed with the Administrative Agent. The
        Administrative Agent shall be fully justified in failing or refusing to take
        any
        action under this Agreement or any other Loan Paper unless it shall first
        receive such advice or concurrence of the Majority Lenders (or, if so specified
        by this Agreement, all Lenders) as it deems appropriate or it shall first
        be
        indemnified to its satisfaction by the Lenders against any and all liability
        and
        expense that may be incurred by it by reason of taking or continuing to take
        any
        such action. The Administrative Agent shall in all cases be fully protected
        in
        acting, or in refraining from acting, under this Agreement and the other
        Loan
        Papers in accordance with a request of the Majority Lenders (or, if so specified
        by this Agreement, all Lenders), and such request and any action taken or
        failure to act pursuant thereto shall be binding upon all the Lenders and
        all
        future holders of the Loans.

      
        
          
          

        

        
          49

          
            

          

        

        
          
          

        

      

       

      
        	 	
                9.5.

              	
                Notice
                  of Default.

              

      

      

      The
        Administrative Agent shall not be deemed to have knowledge or notice of the
        occurrence of any Default or Event of Default unless the Administrative Agent
        has received notice from a Lender or the Borrower referring to this Agreement,
        describing such Default or Event of Default and stating that such notice
        is a
“notice of default”. In the event that the Administrative Agent receives such a
        notice, the Administrative Agent shall promptly give notice thereof to the
        Lenders. The Administrative Agent shall take such action with respect to
        such
        Default or Event of Default as shall be reasonably directed by the Majority
        Lenders (or, if so specified by this Agreement, all Lenders); provided
        that
        unless and until the Administrative Agent shall have received such directions,
        the Administrative Agent may (but shall not be obligated to) take such action,
        or refrain from taking such action, with respect to such Default or Event
        of
        Default as it shall deem advisable in the best interests of the
        Lenders.

       

      
        	 	
                9.6.

              	
                Non-Reliance
                  on Agents and Other Lenders.

              

      

      

      Each
        Lender expressly acknowledges that neither the Agents nor any of their
        respective officers, directors, employees, agents, attorneys-in-fact or
        affiliates have made any representations or warranties to it and that no
        act by
        any Agent hereafter taken, including any review of the affairs of a Company
        or
        any affiliate of a Company, shall be deemed to constitute any representation
        or
        warranty by any Agent to any Lender. Each Lender represents to the Agents
        that
        it has, independently and without reliance upon any Agent or any other Lender,
        and based on such documents and information as it has deemed appropriate,
        made
        its own appraisal of and investigation into the business, operations, property,
        financial and other condition and creditworthiness of the Companies and their
        affiliates and made its own decision to make its Loans hereunder and enter
        into
        this Agreement. Each Lender also represents that it will, independently and
        without reliance upon any Agent or any other Lender, and based on such documents
        and information as it shall deem appropriate at the time, continue to make
        its
        own credit analysis, appraisals and decisions in taking or not taking action
        under this Agreement and the other Loan Papers, and to make such investigation
        as it deems necessary to inform itself as to the business, operations, property,
        financial and other condition and creditworthiness of the Companies and their
        affiliates. Except for notices, reports and other documents expressly required
        to be furnished to the Lenders by the Administrative Agent hereunder, the
        Administrative Agent shall not have any duty or responsibility to provide
        any
        Lender with any credit or other information concerning the business, operations,
        property, condition (financial or otherwise), prospects or creditworthiness
        of
        any Company or any affiliate of a Company that may come into the possession
        of
        the Administrative Agent or any of its officers, directors, employees, agents,
        attorneys-in-fact or affiliates.

       

      
        	 	
                9.7.

              	
                Indemnification.

              

      

      

      The
        Lenders agree to indemnify each Agent in its capacity as such (to the extent
        not
        reimbursed by the Borrower and without limiting the obligation of the Borrower
        to do so), ratably according to their respective Revolving Percentages in
        effect
        on the date on which indemnification is sought under this Section (or, if
        indemnification is sought after the date upon which the Commitments shall
        have
        terminated and the Loans shall have been paid in full, ratably in accordance
        with such Revolving Percentages immediately prior to such date), from and
        against any and all liabilities, obligations, losses, damages, penalties,
        actions, judgments, suits, costs, expenses or disbursements of any kind
        whatsoever that may at any time (whether before or after the payment of the
        Loans) be imposed on, incurred by or asserted against such Agent in any way
        relating to or arising out of, the Commitments, this Agreement, any of the
        other
        Loan Papers or any documents contemplated by or referred to herein or therein
        or
        the transactions contemplated hereby or thereby or any action taken or omitted
        by such Agent under or in connection with any of the foregoing; provided
        that no
        Lender shall be liable for the payment of any portion of such liabilities,
        obligations, losses, damages, penalties, actions, judgments, suits, costs,
        expenses or disbursements that are found by a final and nonappealable decision
        of a court of competent jurisdiction to have resulted from such Agent’s fraud,
        gross negligence or willful misconduct. The agreements in this Section shall
        survive the payment of the Loans and all other amounts payable
        hereunder.

      
        
          
          

        

        
          50

          
            

          

        

        
          
          

        

      

      

      	9.8.  	
              Agent
                in its Individual Capacity.

            

      

      Each
        Agent and its affiliates may make loans to, accept deposits from and generally
        engage in any kind of business with any Company as though such Agent were
        not an
        Agent. With respect to its Loans made or renewed by it, each Agent shall
        have
        the same rights and powers under this Agreement and the other Loan Papers
        as any
        Lender and may exercise the same as though it were not an Agent, and the
        terms
“Lender” and “Lenders” shall include each Agent in its individual
        capacity.

       

      
        	 	
                9.9.

              	
                Successor
                  Administrative Agent.

              

      

      

      The
        Administrative Agent may resign as Administrative Agent upon 10 days’ notice to
        the Lenders and the Borrower. If the Administrative Agent shall resign as
        Administrative Agent under this Agreement and the other Loan Papers, then
        the
        Majority Lenders shall appoint from among the Lenders a successor agent for
        the
        Lenders, which successor agent shall (unless an Event of Default under Section
        8.1 or Section 8.3 with respect to the Borrower shall have occurred and be
        continuing) be subject to approval by the Borrower (which approval shall
        not be
        unreasonably withheld or delayed), whereupon such successor agent shall succeed
        to the rights, powers and duties of the Administrative Agent, and the term
        “Administrative Agent” shall mean such successor agent effective upon such
        appointment and approval, and the former Administrative Agent’s rights, powers
        and duties as Administrative Agent shall be terminated, without any other
        or
        further act or deed on the part of such former Administrative Agent or any
        of
        the parties to this Agreement or any holders of the Loans. If no successor
        agent
        has accepted appointment as Administrative Agent by the date that is 10 days
        following a retiring Administrative Agent’s notice of resignation, the retiring
        Administrative Agent’s resignation shall nevertheless thereupon become
        effective, and the Lenders shall assume and perform all of the duties of
        the
        Administrative Agent hereunder until such time, if any, as the Majority Lenders
        appoint a successor agent as provided for above. After any retiring
        Administrative Agent’s resignation as Administrative Agent, the provisions of
        this Section 10 shall inure to its benefit as to any actions taken or omitted
        to
        be taken by it while it was Administrative Agent under this Agreement and
        the
        other Loan Papers.

       

      
        	 	
                9.10.

              	
                Co-Documentation
                  Agents and Syndication Agent.

              

      

      

      Neither
        the Co-Documentation Agents nor the Syndication Agent shall have any duties
        or
        responsibilities hereunder in its capacity as such.

      
        
          
          

        

        
          51

          
            

          

        

        
          
          

        

      

       

      SECTION
        10

      

      MISCELLANEOUS.

      

      
        	 	
                10.1.

              	
                Changes
                  in GAAP.

              

      

      

      All
        accounting and financial terms used in any of the Loan Papers and the compliance
        with each covenant contained in the Loan Papers which relates to financial
        matters shall be determined in accordance with GAAP, except to the extent
        that a
        deviation therefrom is expressly stated in such Loan Papers. Should a change
        in
        GAAP require a change in any method of accounting or should any voluntary
        change
        in the accounting methods be permitted pursuant to Section 7.11, then such
        change shall not result in an Event of Default if, at the time of such change,
        such Event of Default had not occurred and was not then continuing, based
        upon
        the former methods of accounting used by or on behalf of the Borrower;
provided
        that,
        after any such change in accounting methods, the Financial Statements required
        to be delivered shall either be (a) supplemented with financial information
        prepared in comparative form, in compliance with the former methods of
        accounting used prior to such change, as well as with the new method or methods
        of accounting and, for the purpose of determining whether an Event of Default
        has occurred, Lenders shall look solely to that portion of such supplemental
        information that complies with the former methods of accounting, or
        (b) supplemented with financial information prepared in compliance with
        such new method or methods of accounting but accompanied by such information,
        in
        form and detail satisfactory to Lenders, that will allow Lenders to readily
        determine the effect of such changes in accounting methods on such Financial
        Statements, and, for the purpose of determining whether an Event of Default
        has
        occurred, Lenders shall look solely to such supplemental information as adjusted
        to reflect compliance with such former method or methods of
        accounting.

       

      
        	 	
                10.2.

              	
                Money
                  and Interest.

              

      

      

      Unless
        stipulated otherwise (a) all references in any of the Loan Papers to
“dollars,” “money,” “payments,” or other similar financial or monetary terms are
        references to currency of the United States of America and (b) all
        references to interest are to simple and not compound interest.

       

      
        	 	
                10.3.

              	
                Number
                  and Gender of Words.

              

      

      

      Whenever
        in any Loan Paper the singular number is used, the same shall include the
        plural
        where appropriate, and vice versa; and words of any gender in any Loan Paper
        shall include each other gender where appropriate. The words “herein,” “hereof,”
and “hereunder,” and other words of similar import refer to the relevant Loan
        Paper as a whole and not to any particular part or subdivision
        thereof.

       

      
        	 	
                10.4.

              	
                Headings.

              

      

      

      The
        headings, captions, and arrangements used in any of the Loan Papers are,
        unless
        specified otherwise, for convenience only and shall not be deemed to limit,
        amplify, or modify the terms of the Loan Papers, nor affect the meaning
        thereof.

       

      
        	 	
                10.5.

              	
                Exhibits.

              

      

      

      If
        any
        Exhibit, which is to be executed and delivered, contains blanks, the same
        shall
        be completed correctly and in accordance with the terms and provisions contained
        and as contemplated herein prior to, at the time of, or after the execution
        and
        delivery thereof.

      
        
          
          

        

        
          52

          
            

          

        

        
          
          

        

      

       

      
        	 	
                10.6.

              	
                Notices.

              

      

      

      All
        notices, requests and demands to or upon the respective parties hereto to
        be
        effective shall be in writing (including by telecopy), and, unless otherwise
        expressly provided herein, shall be deemed to have been duly given or made
        when
        delivered, or three Business Days after being deposited in the mail, postage
        prepaid, or, in the case of telecopy notice, when received, addressed as
        follows
        in the case of the Borrower and the Administrative Agent, and as set forth
        in an
        administrative questionnaire delivered to the Administrative Agent in the
        case
        of the Lenders, or to such other address as may be hereafter notified by
        the
        respective parties hereto:

      

      
        	
                Borrower:

              	
                CenturyTel,
                  Inc.

                100
                  CenturyTel Drive

                Monroe,
                  LA 71203

              
	 	
                Attention:
                  R. Stewart Ewing, Jr.

              
	 	
                Telecopy:
                  318-362-1728

              
	 	
                Telephone:
                  318-388-9512

              
	 	 
	 	
                CenturyTel,
                  Inc.

                100
                  CenturyTel Drive

                Monroe,
                  LA 71203

              
	 	
                Attention:
                  G. Clay Bailey and D. Greg Jones

              
	 	
                Telecopy:
                  318-388-9093

              
	 	
                Telephone:
                  318-388-9069

              
	 	 
	
                with
                  a copy to:

              	
                CenturyTel,
                  Inc.

                100
                  CenturyTel Drive

                Monroe,
                  LA 71203

              
	 	
                Attention:
                  Stacey W. Goff

              
	 	
                Telecopy:
                  318-388-9488

              
	 	
                Telephone:
                  318-388-9539

              
	 	 
	
                Administrative
                  Agent:

              	
                JPMorgan
                  Chase Bank, N.A.

                Loan
                  and Agency Services Group

                1111
                  Fannin, 10th
                  Floor

                Houston,
                  TX 77002

                Attention:
                  Gloria Javier

                Telecopy:
                  713-750-2878

                Telephone:
                  713-750-7919

              
	 	 
	
                with
                  a copy to::

              	
                JPMorgan
                  Chase Bank, N.A.

                270
                  Park Avenue, 4th
                  Floor

                New
                  York, NY 10017

              
	 	
                Attention:
                  Peter Ling

              
	 	
                Telecopy:
                  212-270-0213

              
	 	
                Telephone:
                  212-270-4676

              
	 	 

      

      

      provided
        that any
        notice, request or demand to or upon the Administrative Agent or the Lenders
        shall not be effective until received.

      
        
          
          

        

        
          53

          
            

          

        

        
          
          

        

      

       

      Notices
        and other communications to the Lenders hereunder may be delivered or furnished
        by electronic communications pursuant to procedures approved by the
        Administrative Agent; provided
        that the
        foregoing shall not apply to notices pursuant to Section 2 unless otherwise
        agreed by the Administrative Agent and the applicable Lender. The Administrative
        Agent or the Borrower may, in its discretion, agree to accept notices and
        other
        communications to it hereunder by electronic communications pursuant to
        procedures approved by it; provided
        that
        approval of such procedures may be limited to particular notices or
        communications.

       

      
        	 	
                10.7.

              	
                Exceptions
                  to Covenants.

              

      

      

      The
        Borrower shall not take any action or fail to take any action which is permitted
        as an exception to any of the covenants contained in any of the Loan Papers
        if
        such action or omission would result in the breach of any other covenant
        contained in any of the Loan Papers.

       

      
        	 	
                10.8.

              	
                Survival.

              

      

      

      All
        covenants, agreements, undertakings, representations, and warranties made
        in any
        of the Loan Papers (a) shall survive all closings under the Loan Papers,
        (b) except as otherwise indicated, shall not be affected by any
        investigation made by any party, and (c) unless otherwise provided herein
        shall terminate upon the later of the termination of this Agreement and the
        payment in full of the Obligation.

       

      
        	 	
                10.9.

              	
                Governing
                  Law.

              

      

      

      THIS
        AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT
        SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE
        LAW
        OF THE STATE OF NEW YORK.

       

      
        	 	
                10.10.

              	
                Submission
                  to Jurisdiction; Waivers.

              

      

      

      The
        Borrower hereby irrevocably and unconditionally:

      

      (a) submits
        for itself and its property in any legal action or proceeding relating to
        this
        Agreement and the other Loan Papers to which it is a party, or for recognition
        and enforcement of any judgment in respect thereof, to the non-exclusive
        general
        jurisdiction of the courts of the State of New York, the courts of the United
        States for the Southern District of New York, and appellate courts from any
        thereof;

      

      (b) consents
        that any such action or proceeding may be brought in such courts and waives
        any
        objection that it may now or hereafter have to the venue of any such action
        or
        proceeding in any such court or that such action or proceeding was brought
        in an
        inconvenient court and agrees not to plead or claim the same;

      

      (c) agrees
        that service of process in any such action or proceeding may be effected
        by
        mailing a copy thereof by registered or certified mail (or any substantially
        similar form of mail), postage prepaid, to the Borrower, as the case may
        be at
        its address set forth in Section 11.6 or at such other address of which the
        Administrative Agent shall have been notified pursuant thereto;

      

      (d) agrees
        that nothing herein shall affect the right to effect service of process in
        any
        other manner permitted by law or shall limit the right to sue in any other
        jurisdiction; and

      

      (e) waives,
        to the maximum extent not prohibited by law, any right it may have to claim
        or
        recover in any legal action or proceeding referred to in this Section any
        special, exemplary, punitive or consequential damages.

      
        
          
          

        

        
          54

          
            

          

        

        
          
          

        

      

       

      
        	 	
                10.11.

              	
                WAIVERS
                  OF JURY TRIAL.

              

      

      

      THE
        BORROWER, THE ADMINISTRATIVE AGENT AND THE LENDERS HEREBY IRREVOCABLY AND
        UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING
        TO THIS AGREEMENT OR ANY OTHER LOAN PAPER AND FOR ANY COUNTERCLAIM
        THEREIN.

       

      
        	 	
                10.12.

              	
                Severability.

              

      

      

      Any
        provision of this Agreement that is prohibited or unenforceable in any
        jurisdiction shall, as to such jurisdiction, be ineffective to the extent
        of
        such prohibition or unenforceability without invalidating the remaining
        provisions hereof, and any such prohibition or unenforceability in any
        jurisdiction shall not invalidate or render unenforceable such provision
        in any
        other jurisdiction.

       

      
        	 	
                10.13.

              	
                Integration.

              

      

      

      This
        Agreement and the other Loan Papers represent the entire agreement of the
        Borrower, the Administrative Agent and the Lenders with respect to the subject
        matter hereof and thereof, and there are no promises, undertakings,
        representations or warranties by the Administrative Agent or any Lender relative
        to the subject matter hereof not expressly set forth or referred to herein
        or in
        the other Loan Papers.

       

      
        	 	
                10.14.

              	
                Amendments,
                  Etc.

              

      

      

      Neither
        this Agreement, any other Loan Paper, nor any terms hereof or thereof may
        be
        amended, supplemented or modified except in accordance with the provisions
        of
        this Section 11.14. The Majority Lenders and the Borrower may, or, with the
        written consent of the Majority Lenders, the Administrative Agent and the
        Borrower may, from time to time, (a) enter into written amendments, supplements
        or modifications hereto and to the other Loan Papers for the purpose of adding
        any provisions to this Agreement or the other Loan Papers or changing in
        any
        manner the rights of the Lenders or of the Borrower hereunder or thereunder
        or
        (b) waive, on such terms and conditions as the Majority Lenders or the
        Administrative Agent, as the case may be, may specify in such instrument,
        any of
        the requirements of this Agreement or the other Loan Papers or any Default
        or
        Event of Default and its consequences; provided,
        however,
        that no
        such waiver and no such amendment, supplement or modification shall (i) forgive
        or reduce the principal amount or extend the final scheduled date of maturity
        of
        any Loan, extend the date of any payment required by Section 2.9(b), reduce
        the
        stated rate of any interest, margin or fee payable hereunder (except (x)
        in
        connection with the waiver of applicability of any post-default increase
        in
        interest rates (which waiver shall be effective with the consent of the Majority
        Lenders) and (y) that any amendment or modification of defined terms used
        in the
        financial covenants in this Agreement shall not constitute a reduction in
        the
        rate of interest or fees for purposes of this clause (i)) or extend the
        scheduled date of any payment thereof, or increase the amount or extend the
        expiration date of any Lender’s Commitment, in each case without the written
        consent of each Lender directly affected thereby; (ii) eliminate or reduce
        the
        voting rights of any Lender under this Section 11.14 without the written
        consent
        of such Lender; (iii) reduce any percentage specified in the definition of
        Majority Lenders or consent to the assignment or transfer by the Borrower
        of any
        of its rights and obligations under this Agreement and the other Loan Papers,
        in
        each case without the written consent of all Lenders; or (iv) amend, modify
        or
        waive any provision of Section 3 or 10 without the written consent of the
        Issuing Lender or the Administrative Agent, respectively. Any such waiver
        and
        any such amendment, supplement or modification shall apply equally to each
        of
        the Lenders and shall be binding upon the Borrower, the Lenders, the
        Administrative Agent and all future holders of the Loans. In the case of
        any
        waiver, the Companies, the Lenders and the Administrative Agent shall be
        restored to their former position and rights hereunder and under the other
        Loan
        Papers, and any Default or Event of Default waived shall be deemed to be
        cured
        and not continuing; but no such waiver shall extend to any subsequent or
        other
        Default or Event of Default, or impair any right consequent
        thereon.

      
        
          
          

        

        
          55

          
            

          

        

        
          
          

        

      

       

      Notwithstanding
        the foregoing, this Agreement may be amended (or amended and restated) with
        the
        written consent of the Majority Lenders, the Administrative Agent and the
        Borrower (a) to add one or more additional credit facilities to this Agreement
        and to permit the extensions of credit from time to time outstanding thereunder
        and the accrued interest and fees in respect thereof to share ratably in
        the
        benefits of this Agreement and the other Loan Papers with the aggregate
        principal amount of the Loans then outstanding and the accrued interest and
        fees
        in respect thereof and (b) to include appropriately the Lenders holding such
        credit facilities in any determination of the Majority Lenders.

       

      
        	 	
                10.15.

              	
                Waivers.

              

      

      

      No
        course
        of dealing nor any failure or delay by the Administrative Agent, any Lender,
        or
        any of their respective officers, directors, employees, agents, representatives,
        or attorneys with respect to exercising any Right of the Lenders hereunder
        shall
        operate as a waiver thereof. A waiver must be in writing and signed by the
        Lenders (or the Majority Lenders to the extent permitted hereunder) to be
        effective, and such waiver will be effective only in the specific instance
        and
        for the specific purpose for which it is given.

      

      
        	 	
                10.16.

              	
                Governmental
                  Regulation.

              

      

      

      Anything
        contained in this Agreement to the contrary notwithstanding, the Lenders
        shall
        not be obligated to extend credit to the Borrower in violation of any
        Law.

       

      
        	 	
                10.17.

              	
                Multiple
                  Counterparts.

              

      

      

      This
        Agreement may be executed by one or more of the parties to this Agreement
        on any
        number of separate counterparts, and all of said counterparts taken together
        shall be deemed to constitute one and the same instrument. Delivery of an
        executed signature page of this Agreement by facsimile transmission shall
        be
        effective as delivery of a manually executed counterpart hereof. A set of
        the
        copies of this Agreement signed by all the parties shall be lodged with the
        Borrower and the Administrative Agent.

       

      
        	 	
                10.18.

              	
                Successors
                  and Assigns; Participations;
                  Assignments.

              

      

      

      (a) The
        provisions of this Agreement shall be binding upon and inure to the benefit
        of
        the parties hereto and their respective successors and assigns permitted
        hereby,
        except that (i) the Borrower may not assign or otherwise transfer any of
        its
        rights or obligations hereunder without the prior written consent of each
        Lender
        (and any attempted assignment or transfer by the Borrower without such consent
        shall be null and void) and (ii) no Lender may assign or otherwise transfer
        its
        rights or obligations hereunder except in accordance with this
        Section.

      

      (b) (i)
        Subject
        to the conditions set forth in paragraph (b)(ii) below, any Lender may assign
        to
        one or more assignees (each, an “Assignee”)
        all or
        a portion of its rights and obligations under this Agreement (including all
        or a
        portion of its Commitments and the Loans at the time owing to it) with the
        prior
        written consent (such consent not to be unreasonably withheld)
        of:

      
        
          
          

        

        
          56

          
            

          

        

        
          
          

        

      

       

      (A) the
        Borrower, provided
        that no
        consent of the Borrower shall be required for an assignment to a Lender,
        an
        affiliate of a Lender, an Approved Fund (as defined below) or, if an Event
        of
        Default has occurred and is continuing, any other Person; 

      

      (B) the
        Administrative Agent; and

      

      (C) the
        Issuing Lender.

      

      
        	 	
                (ii)

              	
                Assignments
                  shall be subject to the following additional conditions:
                  

              

      

      

      (A) except
        in
        the case of an assignment to a Lender, an affiliate of a Lender or an Approved
        Fund or an assignment of the entire remaining amount of the assigning Lender’s
        Commitments, the amount of the Commitments of the assigning Lender subject
        to
        each such assignment (determined as of the date the Assignment and Assumption
        with respect to such assignment is delivered to the Administrative Agent)
        shall
        not be less than $5,000,000 unless each of the Borrower and the Administrative
        Agent otherwise consent, provided
        that (1)
        no such consent of the Borrower shall be required if an Event of Default
        has
        occurred and is continuing and (2) such amounts shall be aggregated in respect
        of each Lender and its affiliates or Approved Funds, if any; 

      

      (B) the
        parties to each assignment shall execute and deliver to the Administrative
        Agent
        an Assignment and Assumption, together with a processing and recordation
        fee of
        $3,500; 

      

      (C) the
        Assignee, if it shall not be a Lender, shall deliver to the Administrative
        Agent
        an administrative questionnaire;

      

      (D) unless
        otherwise agreed by the Borrower, the Assignee shall either (1) be a “U.S.
        Person” as defined in Section 7701(a)(30) of the Code or (2) have delivered the
        documents described in Section 2.20(d) claiming complete exemption from U.S.
        federal withholding tax on all payments by the Borrower under this Agreement
        and
        the other Loan Papers; and

      

      (E) in
        the
        case of an assignment to a CLO (as defined below), unless such assignment
        (or an
        assignment to a CLO managed by the same manager or an Affiliate of such manager)
        shall have been approved by the Borrower (the Borrower agreeing that such
        approval, if requested, will not be unreasonably withheld or delayed) the
        assigning Lender shall retain the sole right to approve any amendment,
        modification or waiver of any provision of this Agreement and the other Loan
        Papers, provided
        that the
        Assignment and Assumption between such Lender and such CLO may provide that
        such
        Lender will not, without the consent of such CLO, agree to any amendment,
        modification or waiver that (1) requires the consent of each Lender directly
        affected thereby pursuant to the proviso to the second sentence of Section
        11.14
        and (2) directly affects such CLO.

      

      For
        the
        purposes of this Section 11.18, the terms “Approved Fund” and “CLO” have the
        following meanings:

      

      “Approved
        Fund”
means
        (a) a CLO and (b) with respect to any Lender that is a fund which invests
        in
        bank loans and similar extensions of credit, any other fund that invests
        in bank
        loans and similar extensions of credit and is managed by the same investment
        advisor as such Lender or by an affiliate of such investment
        advisor.

      
        
          
          

        

        
          57

          
            

          

        

        
          
          

        

      

       

      “CLO”
means
        any entity (whether a corporation, partnership, trust or otherwise) that
        is
        engaged in making, purchasing, holding or otherwise investing in bank loans
        and
        similar extensions of credit in the ordinary course of its business and is
        administered or managed by a Lender or an affiliate of such Lender.

      

      (iii)    Subject
        to acceptance and recording thereof pursuant to paragraph (b)(iv) below,
        from and after the effective date specified in each Assignment and Assumption
        the Assignee thereunder shall be a party hereto and, to the extent of the
        interest assigned by such Assignment and Assumption, have the rights and
        obligations of a Lender under this Agreement, and the assigning Lender
        thereunder shall, to the extent of the interest assigned by such Assignment
        and
        Assumption, be released from its obligations under this Agreement (and, in
        the
        case of an Assignment and Assumption covering all of the assigning Lender’s
        rights and obligations under this Agreement, such Lender shall cease to be
        a
        party hereto but shall continue to be entitled to the benefits of
        Sections 2.10, 2.12, 2.20 and 11.21). Any assignment or transfer by a
        Lender of rights or obligations under this Agreement that does not comply
        with
        this Section 11.18 shall be treated for purposes of this Agreement as a sale
        by
        such Lender of a participation in such rights and obligations in accordance
        with
        paragraph (c) of this Section.

      

      (iv)    The
        Administrative Agent, acting for this purpose as an agent of the Borrower,
        shall
        maintain at one of its offices a copy of each Assignment and Assumption
        delivered to it and a register for the recordation of the names and addresses
        of
        the Lenders, and the Commitments of, and principal amount of the Loans owing
        to,
        each Lender pursuant to the terms hereof from time to time (the “Register”).
        The
        entries in the Register shall be conclusive, and the Borrower, the
        Administrative Agent, the Issuing Lender and the Lenders may treat each Person
        whose name is recorded in the Register pursuant to the terms hereof as a
        Lender
        hereunder for all purposes of this Agreement, notwithstanding notice to the
        contrary. 

      

      (v)    Upon
        its
        receipt of a duly completed Assignment and Assumption executed by an assigning
        Lender and an Assignee, the Assignee’s completed administrative questionnaire
        (unless the Assignee shall already be a Lender hereunder), the processing
        and
        recordation fee referred to in paragraph (b) of this Section and any
        written consent to such assignment required by paragraph (b) of this Section,
        the Administrative Agent shall accept such Assignment and Assumption and
        record
        the information contained therein in the Register. No assignment shall be
        effective for purposes of this Agreement unless it has been recorded in the
        Register as provided in this paragraph.

      

      (c)
        (i)    Any
        Lender may, without the consent of the Borrower or the Administrative Agent,
        sell participations to one or more banks or other entities (a “Participant”)
        in all
        or a portion of such Lender’s rights and obligations under this Agreement
        (including all or a portion of its Commitments and the Loans owing to it);
        provided
        that
        (A) such Lender’s obligations under this Agreement shall remain unchanged,
        (B) such Lender shall remain solely responsible to the other parties hereto
        for the performance of such obligations and (C) the Borrower, the
        Administrative Agent and the other Lenders shall continue to deal solely
        and
        directly with such Lender in connection with such Lender’s rights and
        obligations under this Agreement. Any agreement pursuant to which a Lender
        sells
        such a participation shall provide that such Lender shall retain the sole
        right
        to enforce this Agreement and to approve any amendment, modification or waiver
        of any provision of this Agreement; provided
        that
        such agreement may provide that such Lender will not, without the consent
        of the
        Participant, agree to any amendment, modification or waiver that (1) requires
        the consent of each Lender directly affected thereby pursuant to the proviso
        to
        the second sentence of Section 11.14 and (2) directly affects such Participant.
        Subject to paragraph (c)(ii) of this Section, the Borrower agrees that each
        Participant shall be entitled to the benefits of Sections 2.10, 2.12 and
        2.20 to
        the same extent as if it were a Lender and had acquired its interest by
        assignment pursuant to paragraph (b) of this Section. To the extent permitted
        by
        law, each Participant also shall be entitled to the benefits of Section 9.10
        as
        though it were a Lender, provided such Participant shall be subject to Section
        2.14 as though it were a Lender.

      
        
          
          

        

        
          58

          
            

          

        

        
          
          

        

      

       

      (ii)    A
        Participant shall not be entitled to receive any greater payment under Section
        2.10 or 2.20 than the applicable Lender would have been entitled to receive
        with
        respect to the participation sold to such Participant, unless the sale of
        the
        participation to such Participant is made with the Borrower’s prior written
        consent. 

      

      (d)
        Any
        Lender may at any time pledge or assign a security interest in all or any
        portion of its rights under this Agreement to secure obligations of such
        Lender,
        including any pledge or assignment to secure obligations to a Federal Reserve
        Bank, and this Section shall not apply to any such pledge or assignment of
        a
        security interest; provided
        that no
        such pledge or assignment of a security interest shall release a Lender from
        any
        of its obligations hereunder or substitute any such pledgee or Assignee for
        such
        Lender as a party hereto.

      

      (e) The
        Borrower, upon receipt of written notice from the relevant Lender, agrees
        to
        issue Notes to any Lender requiring Notes to facilitate transactions of the
        type
        described in paragraph (d) above.

      

      (f) Notwithstanding
        the foregoing, any Conduit Lender may assign any or all of the Loans it may
        have
        funded hereunder to its designating Lender without the consent of the Borrower
        or the Administrative Agent and without regard to the limitations set forth
        in
        Section 11.18(b). Each of the Borrower, each Lender and the Administrative
        Agent
        hereby confirms that it will not institute against a Conduit Lender or join
        any
        other Person in instituting against a Conduit Lender any bankruptcy,
        reorganization, arrangement, insolvency or liquidation proceeding under any
        state bankruptcy or similar law, for one year and one day after the payment
        in
        full of the latest maturing commercial paper note issued by such Conduit
        Lender;
provided,
        however, that each Lender designating any Conduit Lender hereby agrees to
        indemnify, save and hold harmless each other party hereto for any loss, cost,
        damage or expense arising out of its inability to institute such a proceeding
        against such Conduit Lender during such period of forbearance.

       

      
        	 	
                10.19.

              	
                Confidentiality.

              

      

      

      (a) No
        Lender
        will use confidential information obtained from the Borrower by virtue of
        the
        transactions contemplated hereby or its other relationships with the Borrower
        in
        connection with the performance by such Lender of services for other companies
        that are not affiliates of such Lender, and no Lender will furnish any such
        information to such other companies. The Borrower acknowledges that no Lender
        has any obligation to use in connection with the transactions contemplated
        hereby, or to furnish to the Borrower, confidential information obtained
        from
        other companies.

      

      (b) Each
        Lender agrees to keep confidential, and not to publish, disclose or otherwise
        divulge to anyone (and to cause their respective officers, directors, employees,
        agents and representatives to keep confidential, and not to publish, disclose
        or
        otherwise divulge to anyone) all information with respect to the Companies,
        including all financial information and projections or all other information
        (the “Confidential
        Information”)
        except
        that the Lenders shall be permitted to disclose Confidential Information: (i) to
        the Administrative Agent, any other Lender or any affiliate thereof; (ii)
        to
        their respective officers, directors, employees, agents, advisors, attorneys,
        accountants and representatives on a “need-to-know” basis in connection with the
        respective roles of the Lenders described herein, provided that the Lenders
        implement reasonable precautions to prevent disclosure by any such personnel,
        (iii) to the extent required by applicable laws and regulations or requested
        or
        required in connection with any litigation or other legal process, provided
        that
        the Lenders will use reasonable efforts to provide the Borrower with a
        reasonable opportunity to challenge the disclosure and request confidentiality
        protection for any Confidential Information that is required to be disclosed,
        (iv) subject to an agreement to comply with the provisions of this Section,
        to
        (A) actual or prospective transferees or (B) any direct or indirect counterparty
        to any Swap Agreement (or any professional advisor to such counterparty),
        (v) to
        the extent requested by any regulatory authority with jurisdiction over any
        Lender or any Affiliate of any Lender, (vi) to the extent such Confidential
        Information (A) becomes publicly available other than as a result of a breach
        of
        this agreement known to the disclosing Lender, (B) becomes available to such
        Lender on a non-confidential basis from a source other than the Borrower
        or (C)
        was available to such Lender on a non-confidential basis prior to its disclosure
        by the Borrower, (vii) to the National Association of Insurance Commissioners
        or
        any similar organization or any nationally recognized rating agency that
        requires access to information about a Lender’s investment portfolio in
        connection with ratings issued with respect to such Lender, or (viii) to
        the
        extent the Borrower shall have consented to such disclosure. Notwithstanding
        anything to the contrary contained above, the Lenders shall be entitled to
        use
        the Confidential Information in exercising remedies under this Agreement
        or any
        other Loan Paper.

      
        
          
          

        

        
          59

          
            

          

        

        
          
          

        

      

       

      
        	 	
                10.20.

              	
                Patriot
                  Act.

              

      

      

      Each
        of
        the Agents and the Lenders hereby notifies the Borrower that, pursuant to
        the
        requirements of the USA Patriot Act, Title III of Pub. L. 107-56 (signed
        into
        law on October 26, 2001) (the “Patriot
        Act”),
        it is
        required to obtain, verify and record information that identifies the Borrower,
        which information includes names and addresses and other information that
        will
        allow such Agent or Lender to identify the Borrower in accordance with the
        Patriot Act

       

      
        	 	
                10.21.

              	
                Conflicts
                  and Ambiguities.

              

      

      

      Any
        conflict or ambiguity between the terms and provisions herein and terms and
        provisions in any other Loan Paper shall be controlled by the terms and
        provisions herein.

       

      
        	 	
                10.22.

              	
                GENERAL
                  INDEMNIFICATION.

              

      

      

      THE
        BORROWER SHALL INDEMNIFY, PROTECT, AND HOLD THE AGENTS AND THE LENDERS AND
        THEIR
        RESPECTIVE PARENTS, SUBSIDIARIES, AFFILIATES, DIRECTORS, OFFICERS, EMPLOYEES,
        REPRESENTATIVES, AGENTS, SUCCESSORS, ASSIGNS, AND ATTORNEYS (COLLECTIVELY,
        THE
“INDEMNIFIED
        PARTIES”)
        HARMLESS FROM AND AGAINST ANY AND ALL LIABILITIES, OBLIGATIONS, LOSSES, DAMAGES,
        PENALTIES, ACTIONS, JUDGMENTS, SUITS, CLAIMS, COSTS, EXPENSES (INCLUDING,
        WITHOUT LIMITATION, ATTORNEYS’ FEES AND LEGAL EXPENSES WHETHER OR NOT SUIT IS
        BROUGHT AND SETTLEMENT COSTS), AND DISBURSEMENTS OF ANY KIND OR NATURE
        WHATSOEVER WHICH MAY BE IMPOSED ON, INCURRED BY, OR ASSERTED AGAINST THE
        INDEMNIFIED PARTIES, IN ANY WAY RELATING TO OR ARISING OUT OF THE LOAN PAPERS
        OR
        ANY OF THE TRANSACTIONS CONTEMPLATED THEREIN (COLLECTIVELY, THE “INDEMNIFIED
        LIABILITIES”),
        TO
        THE EXTENT THAT ANY OF THE INDEMNIFIED LIABILITIES RESULTS, DIRECTLY OR
        INDIRECTLY, FROM ANY CLAIM MADE OR ACTION, SUIT, OR PROCEEDING COMMENCED
        BY OR
        ON BEHALF OF ANY PERSON OTHER
        THAN
        THE
        INDEMNIFIED PARTIES; PROVIDED,
        HOWEVER, THAT
        ALTHOUGH
        EACH INDEMNIFIED PARTY SHALL HAVE THE RIGHT TO BE INDEMNIFIED FROM ITS OWN
        ORDINARY NEGLIGENCE, NO INDEMNIFIED PARTY SHALL HAVE THE RIGHT TO BE INDEMNIFIED
        HEREUNDER FOR ITS OWN FRAUD, GROSS NEGLIGENCE, OR WILLFUL MISCONDUCT. THE
        PROVISIONS OF AND UNDERTAKINGS AND INDEMNIFICATION SET FORTH IN THIS PARAGRAPH
        SHALL SURVIVE THE SATISFACTION AND PAYMENT OF THE OBLIGATION AND TERMINATION
        OF
        THIS AGREEMENT FOR THE PERIOD OF TIME SET FORTH IN ANY APPLICABLE STATUTE
        OF
        LIMITATIONS.

      

      [Remainder
        of page left intentionally blank. Signature pages
        follow.]

      
        
          
          

        

        
          60

          
            

          

        

        
          
          

        

      

      EXECUTED
        as of the day and year first mentioned.

      

      
        	 	
                CENTURYTEL,
                  INC.

              
	 	 
	 	 
	 	
                By:
                  /s/ R. Stewart Ewing, Jr.

              
	 	
                    
                  Name: R.Stewart Ewing, Jr.

              
	 	
                    
                  Title:EVP and CFO

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                JPMORGAN
                  CHASE BANK, N.A.

              
	 	
                as
                  the Administrative Agent and a Lender 

              
	 	 
	 	 
	 	
                By:
                  /s/ Peter M. Ling

              
	 	
                    
                  Name: Peter M. Ling

              
	 	
                    
                  Title: Managing Director

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                WACHOVIA
                  BANK, N.A., 

              
	 	
                as
                  Syndication Agent and a Lender

              
	 	 	 	 
	 	 	 	 
	 	
                By:

              	    /s/
                Mark L. Cook
	 	 	
                Name:

              	
                    Mark
                  L.
                  Cook

              
	 	 	
                Title:

              	
                    Director

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                BANK
                  OF AMERICA, N.A., 

              
	 	
                as
                  a Co-Documentation Agent and a Lender

              
	 	 	 	 
	 	 	 	 
	 	
                By:

              	    /s/
                Stephen Phillips
	 	 	
                Name:

              	
                    Stephen
                  Phillips

              
	 	 	
                Title:

              	
                    Vice
                  President

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                BANK
                  OF TOKYO-MITSUBISHI UFJ TRUST COMPANY, 

              
	 	
                as
                  a Co-Documentation Agent and a Lender 

              
	 	 	 	 
	 	 	 	 
	 	
                By:

              	 
                
	 	
                 

              	Name:	  

	 	
                 

              	Title:	  

  

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      
        	 	
                SUNTRUST
                  BANK, 

              
	 	
                as
                  a Co-Documentation Agent and a Lender 

              
	 	 	 	 
	 	 	 	 
	 	
                By:

              	    /s/
                Kip
                Hurd
	 	 	
                Name:

              	
                    Kip
                  Hurd

              
	 	 	
                Title:

              	
                    Director

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                COBANK,
                  ACB, 

              
	 	
                as
                  a Co-Documentation Agent and a Lender

              
	 	 	 	 
	 	 	 	 
	 	
                By:

              	    /s/
                Thomas Meyer
	 	 	
                Name:

              	
                    Thomas
                  Meyer

              
	 	 	
                Title:

              	
                    Vice
                  President

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                LEHMAN
                  BROTHERS BANK, FSB, 

              
	 	
                as
                  a Co-Documentation Agent and a Lender 

              
	 	 
	 	 
	 	
                By:

              	    /s/
                Gary Taylor
	 	
                 

              	Name:	
                    Gary
                  Taylor

              
	 	
                 

              	Title:	
                    Senior
                  Vice President

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                REGIONS
                  BANK, 

              
	 	
                as
                  a Co-Documentation Agent and a Lender

              
	 	 	 	 
	 	 	 	 
	 	
                By:

              	    /s/
                C.
                Ted Gibson
	 	 	
                Name:

              	
                    C.
                  Ted
                  Gibson

              
	 	 	
                Title:

              	
                    Commercial
                  Relationship Mgr-Sr

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                WILLIAM
                  STREET COMMITMENT CORPORATION,

              
	 	
                as
                  a Co-Documentation Agent and a Lender 

              
	 	 	 	 
	 	 	 	 
	 	
                By:

              	    /s/
                Mark Walton
	 	 	
                Name:

              	
                    Mark
                  Walton

              
	 	 	
                Title:

              	
                    Assistant
                  Vice
                  President

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                BARCLAYS
                  BANK PLC

              
	 	 	 	 
	 	 	 	 
	 	
                By:

              	    /s/
                Nicholas Bell
	
                 

              	 	
                Name:

              	
                    Nicholas
                  Bell

              
	 	 	
                Title:

              	
                    Director

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                UNION
                  BANK OF CALIFORNIA, N.A.

              
	 	 	 	 
	 	 	 	 
	 	
                By:

              	    /s/
                Matthew H. Fleming
	 	 	
                Name:

              	
                    Matthew
                  H. Fleming

              
	 	 	
                Title:

              	
                    Vice
                  President

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                CITIBANK,
                  N.A. 

              
	 	 	 	 
	 	 	 	 
	 	
                By:

              	    /s/
                John N. Judge
	 	 	
                Name:

              	
                    John
                  N.
                  Judge

              
	 	 	
                Title:

              	
                    VP

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                U.S.
                  BANK NATIONAL ASSOCIATION

              
	 	 	 	 
	 	 	 	 
	 	
                By:

              	    /s/
                Gregory D. Knudsen
	 	 	
                Name:

              	
                    Gregory
                  D. Knudsen

              
	 	 	
                Title:

              	
                    Senior
                  Vice President

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                FIFTH
                  THIRD BANK 

              
	 	 	 	 
	 	 	 	 
	 	
                By:

              	    s/
                Sean
                Devillers
	 	 	
                Name:

              	
                    Sean
                  Devillers

              
	 	 	
                Title:

              	
                    Officer

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                PROGRESSIVE
                  BANK

              
	 	 	 	 
	 	 	 	 
	 	
                By:

              	    /s/
                Gary Perkins
	 	 	
                Name:

              	
                    Gary
                  Perkins

              
	 	 	
                Title:

              	
                    Sr.
                  Vice PresidentUnassociated Document

    Exhibit
      10.1

    

    

    

    

    

    

    CENTURYTEL
      DOLLARS & SENSE

     

    401(k)
      PLAN AND TRUST

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

    

     

     

    

     

    

     

    As
      Amended and Restated

    Through
      December 31, 2006

     

     

    
      
        
        

      

      
        
        

        
        

      

      
        
        

      

    

     

    

      CENTURYTEL
        DOLLARS & SENSE 401(K) PLAN AND TRUST

       

      As
        Amended and Restated

      Effective
        December
        31, 2006

       

      CenturyTel,
        Inc. (the “Company”) established the CenturyTel Dollars & Sense 401(k) Plan
        (formerly the CenturyTel, Inc. Dollars & Sense Plan and Trust) (the “Plan”),
        for the exclusive benefit of eligible employees of the Company and its
        participating affiliates on May 1, 1986. 

       

      The
        Plan
        holds the assets of the Telephone USA of Wisconsin, LLC 401(k) Plan and Trust,
        which merged into the Plan effective December 31, 2006. Further, the CenturyTel,
        Inc. Employee Stock Ownership Plan (“ESOP”) was amended to fully vest active
        participants and permit 100% diversification of Company Stock as of November
        6,
        2006 and to merge its assets into the Plan effective December 31, 2006. The
        Plan
        was amended effective December 31, 2006 to create an employee stock ownership
        plan within the Plan, represented by the ESOP assets held in the form of
        Company
        Stock. The Plan also holds the assets of the CenturyTel Security Systems,
        Inc.
        401(k) Plan and Trust, which will merge into the Plan effective January 1,
        2007.
        Appendices A and B attached hereto identify other plans that have been merged
        into this Plan. The Plan is intended to constitute a qualified profit sharing
        plan, as described in Code Section 401(a), which includes a qualified cash
        or
        deferred arrangement, as described in Code Section 401(k) and an employee
        stock
        ownership plan, as described in Code Section 4975(e)(7). 

       

      The
        assets of the ESOP Accounts are held in the CenturyTel, Inc. Employee Stock
        Ownership Trust I and the assets of the PAYSOP Accounts and the Stock Bonus
        Accounts are held in the CenturyTel, Inc. Employee Stock Ownership Trust
        II (the
“ESOP Trusts”), each ESOP Trust is incorporated herein as Appendix D and E,
        respectively. The Trustee of the ESOP Trusts is Sterne, Agee & Leach, Inc.
        The remaining assets of the Plan, including assets transferred from CenturyTel
        Security Systems, Inc. 401(k) Plan and Trust and the Telephone USA of Wisconsin,
        LLC 401(k) Plan and Trust, are held in the CenturyTel Dollars & Sense 401(k)
        Trust (“Dollars & Sense Trust”). The Dollars and Sense Trust is incorporated
        herein as Appendix F. The Trustee of the Dollars & Sense Trust is T. Rowe
        Price Trust Company. Each Trust is intended to be tax exempt, as described
        in
        Code Section 501(a). The assets of each Trust shall be available to pay all
        benefits under the Plan, from any account thereunder.

       

      The
        Plan
        is intended to comply with the qualification requirements of the Economic
        Growth
        and Tax Relief Reconciliation Act of 2001 (“EGTRRA”), and other legal and
        regulatory changes since the last restatement, including requirements to
        adopt
“good faith” amendments applicable to Cycle A filers in IRS Notice 2005-101, and
        is intended to comply in operation therewith. The Plan is also restated in
        good
        faith compliance with the final Treasury Regulations that were issued under
        Code
        Sections 401(k) and 401(m) and such provisions are effective January 1, 2006.
        To
        the extent that the Plan, as set forth below, is subsequently determined
        to be
        insufficient to comply with such requirements and any regulations issued,
        the
        Plan shall later be amended to so comply. 

       

      The
        Plan
        constitutes an amendment and restatement of the CenturyTel, Inc. Dollars
&
Sense Plan and Trust, and each recently merged plan, effective December 31,
        2006, unless stated otherwise herein. The Plan name is being changed to the
        CenturyTel Dollars & Sense 401(k) Plan and Trust with this amendment and
        restatement. 

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      TABLE
        OF CONTENTS

       

      Page

       

      
        	
                ARTICLE
                  I DEFINITIONS

              	
                1

              
	
                1.1

              	
                ACCRUED
                  BENEFIT

              	
                1

              
	
                1.2

              	
                ADDITIONAL
                  MATCH ACCOUNT

              	
                2

              
	
                1.3

              	
                ADDITIONAL
                  MATCH CONTRIBUTIONS

              	
                2

              
	
                1.4

              	
                ADMINISTRATOR
                  OR PLAN ADMINISTRATOR

              	
                2

              
	
                1.5

              	
                AFFILIATED
                  EMPLOYER

              	
                2

              
	
                1.6

              	
                BENEFICIARY

              	
                2

              
	
                1.7

              	
                BOARD
                  OR BOARD OF DIRECTORS

              	
                2

              
	
                1.8

              	
                CATCH-UP
                  CONTRIBUTIONS

              	
                2

              
	
                1.9

              	
                CODE

              	
                2

              
	
                1.10

              	
                COMMITTEE

              	
                2

              
	
                1.11

              	
                COMPANY

              	
                2

              
	
                1.12

              	
                COMPANY
                  STOCK

              	
                2

              
	
                1.13

              	
                COMPENSATION

              	
                2

              
	
                1.14

              	
                DISCRETIONARY
                  MATCH ACCOUNT

              	
                4

              
	
                1.15

              	
                EFFECTIVE
                  DATE

              	
                4

              
	
                1.16

              	
                ELECTIVE
                  DEFERRAL ACCOUNT

              	
                4

              
	
                1.17

              	
                ELECTIVE
                  DEFERRALS

              	
                4

              
	
                1.18

              	
                EMPLOYEE

              	
                4

              
	
                1.19

              	
                EMPLOYER

              	
                4

              
	
                1.20

              	
                EMPLOYER
                  CONTRIBUTION ACCOUNTS

              	
                4

              
	
                1.21

              	
                EMPLOYER
                  MATCH ACCOUNT

              	
                5

              
	
                1.22

              	
                EMPLOYER
                  MATCH CONTRIBUTIONS

              	
                5

              
	
                1.23

              	
                ERISA

              	
                5

              
	
                1.24

              	
                ESOP
                  ACCOUNT

              	
                5

              
	
                1.25

              	
                ESOP
                  TRANSFER ACCOUNT

              	
                5

              
	
                1.26

              	
                FROZEN
                  ACCOUNTS

              	
                5

              
	
                1.27

              	
                FROZEN
                  PRIOR MATCH ACCOUNT

              	
                5

              
	
                1.28

              	
                FROZEN
                  PLAN

              	
                5

              
	
                1.29

              	
                FROZEN
                  PREDECESSOR PLANS

              	
                5

              
	
                1.30

              	
                FROZEN
                  PRE-TAX ACCOUNT

              	
                6

              
	
                1.31

              	
                FROZEN
                  ROLLOVER ACCOUNT

              	
                6

              
	
                1.32

              	
                HIGHLY
                  COMPENSATED EMPLOYEE

              	
                6

              
	
                1.33

              	
                INVESTMENT
                  OPTIONS

              	
                6

              
	
                1.34

              	
                LEASED
                  EMPLOYEE

              	
                6

              
	
                1.35

              	
                MATCHING
                  CONTRIBUTIONS

              	
                7

              
	
                1.36

              	
                NON-HIGHLY
                  COMPENSATED EMPLOYEE

              	
                7

              
	
                1.37

              	
                NORMAL
                  RETIREMENT AGE

              	
                7

              
	
                1.38

              	
                PARTICIPANT

              	
                7

              
	
                1.39

              	
                PARTICIPATING
                  EMPLOYERS

              	
                7

              
	
                1.40

              	
                PAYSOP
                  ACCOUNT

              	
                7

              
	
                1.41

              	
                PLAN

              	
                7

              
	
                1.42

              	
                PLAN
                  YEAR

              	
                7

              
	
                1.43

              	
                PREDECESSOR
                  PLANS

              	
                8

              
	
                1.44

              	
                PRIOR
                  MATCH ACCOUNT

              	
                8

              
	
                1.45

              	
                PROFIT
                  SHARING ACCOUNT

              	
                8

              
	
                1.46

              	
                PROFIT
                  SHARING CONTRIBUTIONS

              	
                8

              
	
                1.47

              	
                QUALIFIED
                  MATCHING CONTRIBUTION ACCOUNT

              	
                8

              
	
                1.48

              	
                QUALIFIED
                  MATCHING CONTRIBUTIONS

              	
                8

              
	
                1.49

              	
                QUALIFIED
                  NON-ELECTIVE CONTRIBUTION ACCOUNT

              	
                8

              
	
                1.50

              	
                QUALIFIED
                  NON-ELECTIVE CONTRIBUTIONS

              	
                8

              
	
                1.51

              	
                ROLLOVER
                  ACCOUNT

              	
                8

              
	
                1.52

              	
                STOCK
                  BONUS ACCOUNT

              	
                8

              
	
                1.53

              	
                TRUST
                  AGREEMENTS

              	
                9

              
	
                1.54

              	
                TRUSTEE

              	
                9

              
	
                1.55

              	
                VALUATION
                  DATE

              	
                9

              
	
                1.56

              	
                VOLUNTARY
                  AFTER-TAX ACCOUNT

              	
                9

              
	 	 
	
                ARTICLE
                  II ELIGIBILITY AND PARTICIPATION

              	
                9

              
	
                2.1

              	
                ACTIVE
                  PARTICIPATION

              	
                9

              
	
                2.2

              	
                EXCLUSION
                  OF CERTAIN EMPLOYEES

              	
                9

              
	
                2.3

              	
                RIGHTS
                  OF RETURNING VETERANS

              	
                9

              
	 	 
	
                ARTICLE
                  III CONTRIBUTIONS

              	
                10

              
	
                3.1

              	
                ELECTIVE
                  DEFERRALS

              	
                10

              
	
                3.2

              	
                EMPLOYER
                  MATCH CONTRIBUTIONS

              	
                11

              
	
                3.3

              	
                ADDITIONAL
                  MATCH CONTRIBUTIONS

              	
                13

              
	
                3.4

              	
                PROFIT
                  SHARING CONTRIBUTIONS

              	
                13

              
	
                3.5

              	
                FORFEITURES

              	
                13

              
	
                3.6

              	
                PAYMENT
                  OF CONTRIBUTIONS; TIMING

              	
                13

              
	
                3.7

              	
                ROLLOVERS
                  AND TRANSFERS

              	
                14

              
	
                3.8

              	
                RESTORATION
                  OF FORFEITURE

              	
                14

              
	
                3.9

              	
                AVERAGE
                  ACTUAL DEFERRAL PERCENTAGE TEST UNDER SECTION 401(K) OF THE
                  CODE

              	
                15

              
	
                3.10

              	
                LIMITATIONS
                  ON EMPLOYEE CONTRIBUTIONS AND EMPLOYER MATCHING
                  CONTRIBUTIONS

              	
                18

              
	
                3.11

              	
                CORRECTIVE
                  CONTRIBUTIONS.

              	
                23

              
	 	 
	
                ARTICLE
                  IV ALLOCATION OF FUNDS

              	
                24

              
	
                4.1

              	
                ALLOCATION
                  OF EMPLOYER CONTRIBUTIONS

              	
                24

              
	
                4.2

              	
                ALLOCATION
                  OF PROFIT SHARING CONTRIBUTIONS

              	
                24

              
	
                4.3

              	
                ALLOCATION
                  OF NET EARNINGS OR LOSSES OF THE TRUST

              	
                25

              
	
                4.4

              	
                VALUATIONS

              	
                25

              
	
                4.5

              	
                ACCOUNTING
                  FOR DISTRIBUTIONS

              	
                25

              
	
                4.6

              	
                SEPARATE
                  ACCOUNTS

              	
                25

              
	
                4.7

              	
                INVESTMENT
                  OF FUNDS

              	
                25

              
	 	 
	
                ARTICLE
                  V MAXIMUM CONTRIBUTIONS AND BENEFITS

              	
                27

              
	
                5.1

              	
                DEFINED
                  CONTRIBUTION LIMITATION

              	
                27

              
	 	 
	
                ARTICLE
                  VI ENTITLEMENT TO BENEFITS

              	
                28

              
	
                6.1

              	
                DISTRIBUTION
                  EVENTS

              	
                28

              
	
                6.2

              	
                DISABILITY

              	
                28

              
	
                6.3

              	
                DEATH

              	
                28

              
	
                6.4

              	
                OTHER
                  PERMITTED DISTRIBUTIONS

              	
                29

              
	 	 
	
                ARTICLE
                  VII DISTRIBUTION OF BENEFITS

              	
                31

              
	
                7.1

              	
                GENERAL

              	
                31

              
	
                7.2

              	
                METHOD
                  OF DISTRIBUTION

              	
                32

              
	
                7.3

              	
                INSTALLMENT
                  PAYMENTS

              	
                32

              
	
                7.4

              	
                COMMENCEMENT
                  OF BENEFITS

              	
                32

              
	
                7.5

              	
                MINIMUM
                  REQUIRED DISTRIBUTIONS

              	
                32

              
	
                7.6

              	
                DISTRIBUTION
                  OF DEATH BENEFITS

              	
                33

              
	
                7.7

              	
                DISTRIBUTION
                  UPON TERMINATION OF EMPLOYMENT AND RESTRICTIONS ON IMMEDIATE
                  DISTRIBUTION

              	
                36

              
	
                7.8

              	
                DIRECT
                  ROLLOVER

              	
                37

              
	
                7.9

              	
                QUALIFIED
                  DOMESTIC RELATIONS ORDER

              	
                38

              
	 	 
	
                ARTICLE
                  VIII BENEFICIARY AND PARTICIPANT INFORMATION

              	
                39

              
	
                8.1

              	
                DESIGNATION
                  OF BENEFICIARY

              	
                39

              
	
                8.2

              	
                INFORMATION
                  TO BE FURNISHED BY PARTICIPANT AND BENEFICIARIES

              	
                39

              
	 	 
	
                ARTICLE
                  IX LOANS TO PARTICIPANTS

              	
                40

              
	
                9.1

              	
                LOANS

              	
                40

              
	
                9.2

              	
                PARTICIPANT
                  LOAN PROGRAM

              	
                41

              
	 	 
	
                ARTICLE
                  X ESOP PROVISIONS

              	
                41

              
	
                10.1

              	
                STATUS
                  OF ESOP

              	
                41

              
	
                10.2

              	
                TRUST
                  OR TRUSTS

              	
                41

              
	
                10.3

              	
                INVESTMENT
                  DIVERSIFICATION

              	
                41

              
	
                10.4

              	
                COMPANY
                  STOCK DISTRIBUTIONS

              	
                41

              
	
                10.5

              	
                OPTIONAL
                  METHODS OF PAYMENT AVAILABLE AT RETIREMENT

              	
                42

              
	
                10.6

              	
                PAYMENT
                  IN SHARES OR CASH

              	
                43

              
	
                10.7

              	
                DIVIDENDS

              	
                43

              
	 	 
	
                ARTICLE
                  XI VOTING PROVISIONS

              	
                43

              
	
                11.1

              	
                VOTING
                  RIGHTS OF COMPANY STOCK

              	
                43

              
	
                11.2

              	
                RESPONDING
                  TO TENDER AND EXCHANGE OFFERS

              	
                44

              
	
                11.3

              	
                CONFIDENTIALITY

              	
                44

              
	 	 
	
                ARTICLE
                  XII TOP HEAVY PROVISIONS

              	
                45

              
	
                12.1

              	
                APPLICABILITY

              	
                45

              
	
                12.2

              	
                DEFINITIONS

              	
                45

              
	
                12.3

              	
                MINIMUM
                  ALLOCATION

              	
                48

              
	
                12.4

              	
                VESTING

              	
                49

              
	 	 
	
                ARTICLE
                  XIII ADMINISTRATION OF THE PLAN

              	
                49

              
	
                13.1

              	
                PLAN
                  COMMITTEE

              	
                49

              
	
                13.2

              	
                DUTIES
                  AND RESPONSIBILITIES OF FIDUCIARIES

              	
                50

              
	
                13.3

              	
                POWERS
                  AND RESPONSIBILITIES OF THE PLAN ADMINISTRATOR

              	
                50

              
	
                13.4

              	
                ALLOCATION
                  OF DUTIES AND RESPONSIBILITIES

              	
                51

              
	
                13.5

              	
                EXPENSES

              	
                51

              
	
                13.6

              	
                LIABILITIES

              	
                51

              
	
                13.7

              	
                CLAIMS
                  PROCEDURE

              	
                52

              
	 	 
	
                ARTICLE
                  XIV AMENDMENT, TERMINATION AND MERGER

              	
                53

              
	
                14.1

              	
                ADOPTION
                  OF PLAN

              	
                53

              
	
                14.2

              	
                AMENDMENTS

              	
                53

              
	
                14.3

              	
                PLAN
                  TERMINATION: DISCONTINUANCE OF EMPLOYER CONTRIBUTIONS

              	
                53

              
	
                14.4

              	
                SUCCESSOR
                  EMPLOYER

              	
                54

              
	
                14.5

              	
                MERGER,
                  CONSOLIDATION OR TRANSFER

              	
                54

              
	 	 
	
                ARTICLE
                  XV MISCELLANEOUS PROVISIONS

              	
                54

              
	
                15.1

              	
                EXCLUSIVE
                  BENEFIT OF PARTICIPANTS AND BENEFICIARIES

              	
                54

              
	
                15.2

              	
                NONGUARANTEE
                  OF EMPLOYMENT

              	
                55

              
	
                15.3

              	
                RIGHTS
                  TO TRUST ASSETS

              	
                55

              
	
                15.4

              	
                NONALIENATION
                  OF BENEFITS

              	
                55

              
	
                15.5

              	
                GENDER

              	
                55

              
	
                15.6

              	
                TITLES
                  AND HEADINGS

              	
                55

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
 

    

    
      ARTICLE
        1

      DEFINITIONS

      

      
        1.1   Accrued
          Benefit.  
          The balance in a Participant’s or Beneficiary’s account. including
          contributions, distributions, forfeitures, income, expenses, gains and
          losses
          (whether or not realized) allocated or attributable thereto. Said account
          balance shall be determined as of the most recent Valuation Date. Each
          Accrued
          Benefit shall be divided into one or more of the following subaccounts,
          to the
          extent applicable: 

         

        
          	
                  (a)

                	
                  Additional
                    Match Account;

                
	
                  (b)

                	
                  Discretionary
                    Match Account;

                
	
                  (c)

                	
                  Elective
                    Deferral Account; 

                
	
                  (d)

                	
                  Employer
                    Match Account; 

                
	
                  (e)

                	
                  ESOP
                    Account;

                
	
                  (f)

                	
                  ESOP
                    Transfer Account; 

                
	
                  (g)

                	
                  Frozen
                    After-Tax Account; 

                
	
                  (h)

                	
                  Frozen
                    Prior Match Account; 

                
	
                  (i)

                	
                  Frozen
                    Pre-Tax Account; 

                
	
                  (j)

                	
                  Frozen
                    Rollover Account; 

                
	
                  (k)

                	
                  PAYSOP
                    Account;

                
	
                  (l)

                	
                  Prior
                    Match Account; 

                
	
                  (m)

                	
                  Profit
                    Sharing Account;

                
	
                  (n)

                	
                  Qualified
                    Non-Elective Contribution Account; 

                
	
                  (o)

                	
                  Qualified
                    Matching Contribution Account; 

                
	
                  (p)

                	
                  Rollover
                    Account;

                
	
                  (q)

                	
                  Stock
                    Bonus Account; and

                
	
                  (r)

                	
                  Voluntary
                    After-Tax Account

                

        

         

        The
          foregoing accounts, which are designated as functional accounts, are derived
          from the source of the funds contributed thereto. 

         

        1.2     Additional
          Match Account. 
          The portion of a Participant’s Accrued Benefit which consists of Additional
          Match Contributions made to the Plan by the Employer and, if applicable,
          amounts
          transferred from the Predecessor Plans as set forth on Appendix A.

         

        1.3  
Additional
          Match Contributions.  
          Matching Contributions made to the Plan by the Employer pursuant to Section
          3.3
          of the Plan. 

         

        1.4  
Administrator
          or Plan Administrator.  
          The CenturyTel Retirement Committee.

         

        1.5 
 Affiliated
          Employer.  
          The Employer and any corporation which is a member of a controlled group
          of
          corporations (as defined in Section 414(b) of the Code) which includes
          the
          Employer, any trade or business (whether or not incorporated) which is
          under
          common control (as defined in Section 414(c) of the Code) with the Employer,
          any
          organization (whether or not incorporated) which is a member of an affiliated
          service group (as defined in Section 414(m) of the Code) which includes
          the
          Employer, and any other entity required to be aggregated with the Employer
          pursuant to regulations under Section 414(o) of the Code. 

         

        1.6  
Beneficiary.  
          The person or persons so designated by the Participant to receive his benefits
          under the Plan in the event of his death, pursuant to Section 8.1 of the
          Plan.

         

        1.7  
Board
          or Board of Directors.  
          The Board of Directors of the Company.

         

        1.8  
Catch-Up
          Contributions.  
          Contributions made to the Plan by the Employer at the election of the
          Participant who has attained the age of 50 before the close of the Plan
          Year in
          lieu of cash compensation, pursuant to Section 3.1(d) of the Plan. These
          contributions are held in the Elective Deferral Account.

         

        1.9  
Code.  
          The Internal Revenue Code of 1986, as amended. 

         

        1.10  Committee. 
          The committee designated by the Board of Directors or the Compensation
          Committee
          of the Board, pursuant to Section 13.1 of the Plan to control and manage
          the
          operation and administration of the Plan to the extent set forth herein.
          

         

        1.11  Company.  
          CenturyTel, Inc. or any successor by merger, purchase or otherwise.

         

        1.12  Company
          Stock.   
          Shares of voting common stock, $1.00 par value, issued by the Company.
          

        
           

          
            

            1.13  
Compensation.

            

            
              	 	
                      (a)

                    	
                      Compensation. 
                        All of each Participant’s W-2 earnings, plus Elective Deferrals, including
                        Catch-Up Contributions, made pursuant to Section 3.1, Contributions
                        to
                        Code Section 125 plans, and contributions to pay for qualified
                        transportation fringe benefits under Code Section 132(f)(2),
                        and excluding
                        (a) overtime, (b) completion bonuses and Christmas bonuses,
                        (c) restricted
                        stock awards under the Company’s Restricted Stock Plan or Key Employee
                        Incentive Compensation Plan, (d) severance pay or termination
                        allowance in
                        any form, and (e) reimbursements or other expense allowances,
                        cash and
                        non-cash fringe benefits, moving expenses, deferred compensation
                        and
                        welfare benefits. The exclusions are not made to the Compensation
                        of the
                        Employees of CenturyTel Security Systems,
                        Inc.

                    

            

            

            Effective
              January 1, 2007, Compensation shall mean, for all Participating Employers,
              the
              total amounts paid to a Participant by an Employer reported on Form
              W-2 of the
              Participant plus Elective Deferrals, including Catch-up Contributions,
              made
              pursuant to Section 3.1(d) of the Plan, contributions to Code Section
              125 plans,
              and contributions to pay for qualified transportation fringe benefits
              under Code
              Section 132(f)(2), and excluding the following unless stated
              otherwise:

            

            
              	 	
                      (i)

                    	
                      Overtime;
                        however, if an Employee has fewer than 80 hours of standard
                        pay in his two
                        week payroll period, overtime pay is converted to standard
                        pay until the
                        Employee has 80 hours for Plan
                        purposes;

                    

            

             

            
              	 	
                      (ii)

                    	
                      Back-pay
                        awards;

                    

            

             

            
              	 	
                      (iii)

                    	
                      Premium
                        pay;

                    

            

             

            
              	 	
                      (iv)

                    	
                      Broad-based
                        bonuses not included under the Employer’s normal compensation programs,
                        such as completion bonuses, referral bonuses, relocation
                        bonuses, and
                        Christmas bonuses, points & awards gross-up, prizes & awards,
                        (team performance awards and individual performance bonuses
                        are
                        included);

                    

            

             

            
              	 	
                      (v)

                    	
                      Reimbursements
                        or other expense allowances, such as meal allowances, imputed
                        income,
                        special credits for waiver of benefits, executive cash allowance,
                        tax
                        gross-up compensation, housing allowance, moving expenses,
                        and all other
                        cash and non-cash fringe benefits;

                    

            

             

            
              	 	
                      (vi)

                    	
                      Deferred
                        compensation, employee stock purchase plan, stock appreciation
                        rights,
                        stock options, and welfare benefits;

                    

            

             

            
              	 	
                      (vii)

                    	
                      Restricted
                        stock awards under the Company’s Restricted Stock Plan or Key Employee
                        Incentive Compensation Plan; and

                    

            

             

            
              	 	
                      (viii)

                    	
                      Severance
                        pay or termination pay in any form.

                    

            

             

            
              	 	
                      (b)

                    	
                      
                        Section
                          415 Compensation.  
                          Section 415 Compensation shall mean the total amounts paid
                          to a
                          Participant by an Employer reported on Form W-2 of the
                          Participant plus
                          Elective Deferrals, including Catch-up Contributions, made
                          pursuant to
                          Section 3.1 (d) of the Plan, contributions to Code Section
                          125 plans, and
                          contributions to pay for qualified transportation fringe
                          benefits under
                          Code Section 132(f)(2). The Employer can elect any other
                          alternative
                          definition of compensation as prescribed by the Code or
                          Treasury
                          Regulations provided the definition of compensation does
                          not by design
                          favor Highly Compensated
                          Employees.

                      

                    

            

             

          

          
            

            
              	 	
                      (c)

                    	
                      Total
                        Compensation.
                        Total Compensation shall mean Section 415 Compensation. However,
                        the
                        Employer can elect any alternative definition of compensation
                        as
                        prescribed by the Code or Treasury Regulations provided the
                        definition of
                        compensation does not favor Highly Compensated
                        Employees.

                    

            

          

           

          
            
              A
                Participant’s Compensation taken into account under the Plan for any Plan Year
                shall not exceed the limit that applies under Code Section 401(a)(17)(B)
                for
                that year, which limit is $225,000 for the 2007 Plan Year. Compensation
                shall
                include only the Compensation paid to the Employee while a Participant
                in this
                Plan.

               

              
                1.14  Discretionary
                  Match Account.   
                  Matching Contributions made to the Plan by the Employer in former
                  Plan
                  Years.

                 

                1.15  Effective
                  Date.   
                  The effective date of this amendment and restatement shall be December
                  31, 2006.

                 

                1.16  Elective
                  Deferral Account.   
                  The portion of a Participant’s Accrued Benefit which consists of Elective
                  Deferrals made to the Plan by the Employer on behalf of the Participant
                  and, if
                  applicable, amounts transferred from the Predecessor Plans as set
                  forth on
                  Appendix A.

                 

                1.17  Elective
                  Deferrals.    
                  Contributions made to the Plan by the Employer at the election
                  of the
                  Participant in lieu of cash compensation, pursuant to Section 3.1
                  of the Plan,
                  including contributions made pursuant to a salary reduction agreement.
                  

                 

                1.18  Employee.   
                  Any person employed by the Employer maintaining the Plan or any
                  other Employer
                  required to be aggregated with such Employer under Section 414(b),
                  (c), (m) or
                  (o) of the Code and including Leased Employees within the meaning
                  of Section
                  414(n)(2) or (o) of the Code. Notwithstanding the foregoing, if
                  such Leased
                  Employees constitute less than twenty percent of the Employer’s non-highly
                  compensated work force within the meaning of Section 414(n)(5)(C)(ii)
                  of the
                  Code, the term “Employee” shall not include those Leased Employees covered by a
                  plan described in Section 414(n)(5) of the Code unless otherwise
                  provided by the
                  terms of the Plan.

                 

                1.19  Employer.   
                  The entity that establishes or maintains the Plan and any successor
                  to such
                  entity and any Affiliated Employer which is a Participating Employer
                  under the
                  Plan.

                 

                1.20  Employer
                  Contribution Accounts.    
                  The portion of a Participant’s Accrued Benefit consisting of Discretionary Match
                  Account, his Employer Match Account and his Additional Match
                  Account.

                 

                1.21  Employer
                  Match Account.   
                  The portion of a Participant’s Accrued Benefit which consists of Employer Match
                  Contributions made to the Plan by the Employer.

                 

                        1.22  Employer
                  Match
                  Contributions.    
                  Matching Contributions made to the Plan by the Employer pursuant
                  to Section 3.2
                  of the Plan.

                

                  1.23  ERISA.  
                    The Employee Retirement Income Security Act of 1974, as amended.

                   

                  1.24  ESOP
                    Account.  
                    The portion of a Participant’s Accrued Benefit that consists of the ESOP account
                    of the Participant under the CenturyTel, Inc. Employee Stock
                    Ownership Plan
                    which was merged into this Plan effective December 31, 2006.

                   

                  1.25  ESOP
                    Transfer Account.  
                    The portion of a Participant’s Accrued Benefit which consists of amounts
                    transferred to the Plan prior to December 31, 2006 and from the
                    CenturyTel, Inc.
                    Employee Stock Ownership Plan and Trust pursuant to diversification
                    elections
                    with respect to such plan under Section 401(a)(20) of the Code
                    and from the
                    Participant’s ESOP Account pursuant to diversification elections described
                    in
                    Section 10.3 of this Plan.

                   

                  1.26  Frozen
                    Accounts.  
                    Collectively, a Participant’s Frozen After-Tax Account, Frozen Prior Match
                    Account, Frozen Pre-Tax Account, and Frozen Rollover Account.

                   

                  1.27  Frozen
                    Prior Match Account.  
                    The portion of a Participant’s Accrued Benefit which consists of amounts
                    transferred from the Frozen Predecessor Plans as set forth on
                    Appendix B.

                   

                  1.28  Frozen
                    Plan. 
                    The CenturyTel, Inc. Frozen Savings Plan, which was merged into
                    this Plan
                    effective September 1, 2000.

                   

                  1.29  Frozen
                    Predecessor Plans.  
                    Plans which were merged, in whole or in part, into the Frozen
                    Plan, which
                    were:

                   

                  

                    
                      	 	
                              (a)

                            	
                              Kingsley
                                Telephone Company’s Retirement Savings Plan, a qualified profit sharing
                                plan, as described in Code Section 401(a), which
                                included a qualified cash
                                or deferred arrangement, as described in Code Section
                                401(k), originally
                                effective January 1, 1988 and merged into the Frozen
                                Plan effective on or
                                about October 1, 1997;

                            

                    

                    

                    
                      	 	
                              (b)

                            	
                              Lake
                                Dallas Telephone Company, Inc. 401(k) Profit Sharing
                                Plan, a qualified
                                profit sharing plan, as described in Code Section
                                401(a), which included a
                                qualified cash or deferred arrangement, as described
                                in Code Section 401
                                (k), originally effective January 1, 1985 and merged
                                into the Frozen Plan
                                effective on or about October 1, 1997; and 

                            

                    

                    

                    
                      	 	
                              (c)

                            	
                              Savings
                                Plan for Employees of the National Telephone Cooperative
                                Association and
                                its Member Systems, a qualified profit sharing plan,
                                as described in Code
                                Section 401(a), which included a qualified cash or
                                deferred arrangement,
                                as described in Code Section 401(k), originally effective
                                September 1,
                                1977 and merged into the Frozen Plan, in part, effective
                                on or about
                                October 1, 1997.

                            

                    

                  

                   

                  
                     

                    1.30  Frozen
                      Pre-Tax Account.
                      The
                      portion of a Participant’s Accrued Benefit which consists of amounts
                      attributable to “Employee Deferral Account” amounts as such term was defined
                      under the Frozen Plan prior to October 1, 1997 and amounts
                      transferred from the
                      Frozen Predecessor Plans as set forth on Appendix B.

                     

                    1.31  Frozen
                      Rollover Account. 
                      The
                      portion of a Participant’s Accrued Benefit which consists of amounts
                      attributable to “Rollover Account” amounts as such term was defined under the
                      Frozen Plan prior to October 1, 1997 and amounts transferred
                      from the Frozen
                      Predecessor Plans as set forth on Appendix B.

                     

                    1.32  Highly
                      Compensated Employee.
                      The term
                      Highly Compensated Employee includes active Highly Compensated
                      Employees and
                      former Highly Compensated Employees.

                     

                    An
                      active
                      Highly Compensated Employee includes any Employee who: 

                    

                      
                        	 	
                                (a)

                              	
                                was
                                  a five-percent (5%) owner (as defined in Section
                                  416(i)(1)(B)(i) of the
                                  Code) at any time during the year or the preceding
                                  year, or
                                  

                              

                      

                       

                      
                        	 	
                                (b)

                              	
                                for
                                  the preceding year had compensation within the
                                  meaning of Section
                                  415(c)(3) of the Code from the Employer in excess
                                  of $100,000 (as adjusted
                                  under Code Section 415(d)). (Employees earning
                                  $100,000 in 2006 will be
                                  considered Highly Compensated Employees in 2007).
                                  The applicable year of
                                  the Plan for which a determination is being made
                                  is called a determination
                                  year and the preceding twelve (12) month period
                                  is called a look-back
                                  year. 

                              

                      

                       

                    

                    

                      A
                        former
                        Highly Compensated Employee is determined based on the rules
                        applicable to
                        determining Highly Compensated Employee status as in effect
                        for the
                        determination year, in accordance with Treasury Regulations
                        Section 1.414(q)-lT,
                        A-4, and Notice 97-45. 

                       

                      

                        1.33  Investment
                          Options.  
                          Any
                          regulated investment companies registered under the Investment
                          Company Act of
                          1940, any common trust fund or collective investment fund
                          of T. Rowe Price
                          Associates, Inc. qualified under Sections 401 and 501 of
                          the Code, and any other
                          funding vehicle that the Committee permits. The Committee
                          may change the
                          available Investment Options from time to time. 

                         

                        1.34  Leased
                          Employee.  
                          Any person (other than an Employee of the recipient) who,
                          pursuant to an
                          agreement between the recipient and any other person (“leasing organization”),
                          has performed services for the recipient (or for the recipient
                          and related
                          persons determined in accordance with Section 414(n)(6)
                          of the Code) on a
                          substantially full time basis for a period of at least
                          one (1) year, and such
                          services are performed under primary direction by the recipient
                          employer.

                         

                        Any
                          Leased Employee shall be treated as an Employee of the
                          recipient Employer.
                          However, contributions or benefits provided by the leasing
                          organization which
                          are attributable to service performed for the recipient
                          Employer shall be
                          treated as provided by the recipient Employer. The preceding
                          sentence shall not
                          apply to any Leased Employee if Leased Employees do not
                          constitute more than
                          twenty percent (20%) of the Employer’s non-highly compensated work force, and if
                          such Employee is covered by a money purchase pension plan
                          providing: (a) a
                          nonintegrated Employer contribution rate of at least ten
                          percent (10%) of Total
                          Compensation, but including amounts contributed by the
                          Employer pursuant to a
                          salary reduction agreement which are excludible from the
                          Employee’s gross income
                          under Section 125, 402(e)(3), 402(h)(1)(B) or 403(b) of
                          the Code, (b) full and
                          immediate vesting, and (c) each employee of the leasing
                          organization (other than
                          employees who perform substantially all of their services
                          for the leasing
                          organization) immediately participate in the plan. Item
                          (c) shall not apply to
                          any individual whose Total Compensation from the leasing
                          organization in each
                          Plan Year during the 4-year period ending with the Plan
                          Year is less than
                          $1,000. 

                         

                        1.35  Matching
                          Contributions.  
                          Contributions to the Plan made by the Employer and allocated
                          to a Participant’s
                          account by reason of the Participant’s Elective Deferrals. 

                         

                        1.36  Non-Highly
                          Compensated Employee.An
                          Employee of the Employer who is not a Highly Compensated
                          Employee.

                         

                        1.37  Normal
                          Retirement Age.  
                          Normal Retirement Age is the Participant’s fifty-fifth (55th)
                          birthday. 

                         

                        1.38  Participant.  
                          An Employee of the Employer who has met the eligibility
                          requirements as
                          specified in Article II, and any former Employee on whose
                          behalf an Accrued
                          Benefit continues to be maintained in the Plan.

                         

                        
                          1.39  Participating
                            Employer.  
                            All Affiliated Employers participate in the Plan; however,
                            CenturyTel Security
                            Systems, Inc. does not become a Participating Employer
                            until January 1, 2007.
                            Notwithstanding, if an entity becomes an Affiliated Employer
                            pursuant to an
                            acquisition such entity will automatically become a Participating
                            Employer if
                            (a) the entity becomes an Affiliated Employer pursuant
                            to a stock transaction
                            with the Employer and the entity does not sponsor a defined
                            contribution plan
                            with 401(k) features, or (b) the entity becomes an Affiliated
                            Employer pursuant
                            to an asset transaction with the Employer and (i) the
                            entity does not transfer
                            sponsorship of a defined contribution plan with 401(k)
                            features, or (ii) the
                            entity sponsors only a frozen defined contribution plan
                            with 401(k) features.
                            All other entities that become an Affiliated Employer
                            pursuant to an acquisition
                            must adopt the Plan in accordance with Article XIV. 

                           

                          1.40  PAYSOP
                            Account.   
                            The portion of a Participant’s Accrued Benefit that consists of the account
                            balance of the Participant under the PAYSOP portion of
                            the CenturyTel, Inc.
                            Stock Bonus Plan and PAYSOP as of its merger into the
                            Employee Stock Ownership
                            Plan on September 18, 2001 with adjustment for investment
                            gain or loss or
                            expenses. The PAYSOP Account became an account under
                            this Plan when the
                            CenturyTel, Inc. Employee Stock Ownership Plan was merged
                            into this Plan
                            effective December 31, 2006. 

                           

                          1.41  Plan.  
                            The
                            CenturyTel Dollars & Sense 401(k) Plan.

                           

                          1.42  Plan
                            Year.  
                            The calendar year.

                           

                          1.43  Predecessor
                            Plans.  
                            Plans which were merged, in whole or in part, into the
                            Plan as stated effective
                            date:
                            San
                            Marcos Telephone Company, Inc. and SM Telecorp Companies
                            Retirement Plan,
                            effective July 1, 1993; PacifiCorp K Plus Employee Savings
                            Plan, effective
                            January 10, 1998; Spectra Communications Group LLC 401(k)
                            Plan and Trust,
                            effective September 30, 2003; CenturyTel Fiber Company
                            II, LLC 401(k) Plan and
                            Trust (“Light Core”), effective October 1, 2005; Telephone USA of Wisconsin,
                            LLC
                            401(k) Plan and Trust, effective December 31, 2006; the
                            CenturyTel Employee Stock Ownership Plan, effective December
                            31,
                            2006;
                            and
                            CenturyTel Security Systems, Inc. 401(k) Plan and Trust
                            Savings Plan, effective
                            January 1, 2007.

                           

                          1.44  Prior
                            Match Account.  
                            The portion of a Participant’s Accrued Benefit which consists of amounts
                            transferred from the Predecessor Plans as set forth on
                            Appendix A.

                           

                          1.45  Profit
                            Sharing Account.  
                            That portion of a Participant’s Accrued Benefit which consists of Profit Sharing
                            Contributions made to the Plan for a Plan Year by the
                            Employer pursuant to
                            Section 3.4.

                           

                          1.46  Profit
                            Sharing Contributions.  
                            Discretionary Profit Sharing Contributions made to the
                            Plan by the Employer
                            pursuant to Section 3.4.

                           

                          1.47  Qualified
                            Matching Contribution Account.  
                            The portion of a Participant’s Accrued Benefit which consists of Qualified
                            Matching Contributions made to the Plan by the Employer.

                          

                            1.48  Qualified
                              Matching Contributions.  
                              Matching
                              Contributions made by the Employer and satisfies special
                              requirements such as
                              immediate vesting, nondiscrimination and subject to
                              withdrawal restrictions that
                              are applicable to Elective Deferrals and which the
                              Employer elects to treat as
                              Qualified Matching Contributions. 

                             

                            1.49  Qualified
                              Non-Elective Contribution Account.  
                              The portion of a Participant’s Accrued Benefit which consists of Qualified
                              Non-Elective Contributions made to the Plan by the
                              Employer. 

                             

                            1.50  Qualified
                              Non-Elective Contributions.  
                              Contributions (other than Matching Contributions or
                              Qualifying Matching
                              Contributions) made by the Employer and satisfies special
                              requirements such as
                              immediate vesting, nondiscrimination, and subject to
                              withdrawal restrictions
                              that are applicable to Elective Deferrals and which
                              the Employer elects to treat
                              as Qualified Non-Elective Contributions. 

                             

                            1.51  Rollover
                              Account.  
                               The portion of a Participant’s Accrued Benefit established in accordance
                              with Section 3.7 of the Plan. 

                             

                            1.52  Stock
                              Bonus Account.  
                              The portion of a Participant’s Accrued Benefit that consists of the account
                              balance of the Participant under the Stock Bonus portion
                              of the CenturyTel, Inc.
                              Stock Bonus Plan and PAYSOP as of the effective date
                              of the merger into the
                              CenturyTel, Inc. Employee Stock Ownership Plan on September
                              18, 2001 with
                              adjustment for investment gain or losses and expenses.
                              The Stock Bonus Account
                              became an account under this Plan when the CenturyTel,
                              Inc. Employee Stock
                              Ownership Plan was merged into this Plan effective
                              December 31, 2006.

                             

                            1.53  Trust
                              Agreements.  
                              The agreements between the Employer and the Trustees
                              under which the assets of
                              the Plan are held, administered and managed. 

                             

                            1.54  Trustee.  
                              The individual or corporate Trustee or Trustees under
                              the Trust Agreements as
                              they may be constituted from time to time.

                             

                            1.55  Valuation
                              Date.  
                              The
                              last
                              day of each Plan Year and such other dates as may be
                              necessary for the proper
                              administration of the Plan.

                             

                            1.56  Voluntary
                              After-Tax Account.  
                              That portion of a Participant’s Accrued Benefit attributable to amounts
                              transferred from the Predecessor Plans as set forth
                              on Appendix A. 

                             

                          

                        

                        

                          ARTICLE
                            I  

                          ELIGIBILITY
                            AND PARTICIPATION 

                           

                          

                            2.1  Active
                              Participation.  
                              Each Employee shall be eligible to participate in the
                              Plan upon his date of
                              employment or reemployment. 

                             

                            2.2  Exclusion
                              of Certain Employees.  
                              The following Employees are excluded from participation
                              in the
                              Plan:

                            

                              
                                	 	
                                        (a)

                                      	
                                        Employees
                                          whose compensation and conditions of employment
                                          are covered by a
                                          collective bargaining agreement to which
                                          the Employer is a party unless
                                          the agreement calls for the Employee’s participation in the Plan;
                                          

                                      

                              

                               

                              
                                	 	
                                        (b)

                                      	
                                        Temporary
                                          Employees hired specifically to fill temporary
                                          or occasional
                                          needs;

                                      

                              

                               

                              
                                	 	
                                        (c)

                                      	
                                        Employees
                                          who are non-resident aliens and who receive
                                          no Earned Income from the
                                          Employer which constitutes income from
                                          sources within the United States;
                                          and 

                                      

                              

                               

                              
                                	 	
                                        (d)

                                      	
                                        Employees
                                          of any Affiliated Employer which is not
                                          a Participating Employer under the
                                          Plan.

                                      

                              

                               

                            

                            In
                              the
                              event an Employee who is not a member of an eligible
                              class of Employees becomes
                              a member of the eligible class, such Employee shall
                              be eligible to participate
                              immediately. In the event a Participant is no longer
                              a member of an eligible
                              class of Employees and becomes ineligible to participate,
                              such Employee shall be
                              eligible to participate immediately upon returning
                              to an eligible class of
                              Employees. 

                             

                          

                          
                            2.3  Rights
                              of Returning Veterans.  
                              Notwithstanding any of the provisions of the Plan to
                              the contrary, rights of
                              Employees with respect to Service in the Uniformed
                              Services will be provided in
                              accordance with Code Section 414(u).

                             

                            

                              ARTICLE
                                I 

                              CONTRIBUTIONS

                              

                                3.1  Elective
                                  Deferrals. 

                                 

                                

                                  
                                    	 	
                                            (a)

                                          	
                                            Participant
                                              Election.
                                              A
                                              Participant may elect to defer Compensation
                                              that would otherwise be paid
                                              to him but for the deferral of such
                                              Compensation, in an amount expressed
                                              as a whole percentage from one percent
                                              (1%) to twenty-five percent (25%)
                                              of his Compensation as he shall elect
                                              in the manner prescribed by the
                                              Employer. The Employer may change from
                                              time to time, in writing, without
                                              the necessity of amending the Plan,
                                              the minimum and maximum percentages
                                              of
                                              Compensation that a Participant can
                                              elect to defer hereunder. Such salary
                                              deferral contributions shall be accomplished
                                              through the direct reduction
                                              of Compensation in each payroll period
                                              during which the election is in
                                              effect. A Participant may elect to
                                              increase, decrease or discontinue his
                                              salary deferral contributions by submitting
                                              a request to the Employer in
                                              the manner prescribed by the Employer.
                                              In addition, a Participant with an
                                              existing contribution rate of at least
                                              one percent (1%) may elect, in the
                                              manner prescribed by the Employer and
                                              under such procedures as are
                                              determined by the Employer, for his
                                              salary deferral contributions to be
                                              automatically increased according to
                                              a pre-determined schedule. A
                                              Participant shall at all times have
                                              a nonforfeitable interest in his
                                              Elective Deferral Account.

                                          

                                  

                                   

                                  
                                    	 	
                                            (b)

                                          	
                                            Elective
                                              Deferrals.
                                              With respect to any taxable year, a
                                              Participant’s Elective Deferrals are
                                              the sum of all Employer contributions
                                              made on behalf of such Participant
                                              pursuant to an election to defer under
                                              Section 3.1(a) of the Plan.
                                              

                                          

                                  

                                   

                                  
                                    	 	
                                            (c)

                                          	
                                            Limitation
                                              on Elective Deferrals.
                                              No Participant may make Elective Deferrals
                                              under this Plan, or any other
                                              qualified plan maintained by the Employer
                                              during any taxable year, in
                                              excess of the dollar limitation in
                                              Code Section 402(g) in effect for such
                                              taxable year, except to the extent
                                              permitted under Section 3.1(d) of this
                                              Plan and Code Section 414(v), if applicable.
                                              Notwithstanding any other
                                              provisions of the Plan, the Employer
                                              may distribute to the Participant,
                                              not later than April 15 following the
                                              calendar year to which the deferral
                                              is attributable, any deferral in excess
                                              of the aforesaid limit together
                                              with any earnings allocable thereto.
                                              A Participant is deemed to notify the
                                              Committee of any Excess Deferrals that
                                              arise under this Plan and any other
                                              plans of this Employer. The Employer
                                              may also distribute to the
                                              Participant any deferrals, together
                                              with any income allocable thereto,
                                              which the Participant has advised the
                                              Employer in writing by March 1
                                              represent excess deferrals because
                                              of amounts deferred in the preceding
                                              year by the Participant under any other
                                              plans or arrangements described in
                                              Section 401(k), 408(k) or 403(b) of
                                              the
                                              Code.

                                          

                                  

                                   

                                  For
                                    purposes of the above, “Excess Deferrals” shall mean those Elective Deferrals
                                    that are includible in a Participant’s gross income under Section 402(g) of the
                                    Code to the extent such Participant’s Elective Deferrals for a taxable year
                                    exceed the dollar limitation under such Code
                                    Section. Excess Deferrals shall be
                                    treated as Annual Additions under the Plan, unless
                                    such amounts are distributed
                                    no later than the first April 15 following the
                                    close of Participant’s taxable
                                    year.

                                   

                                  Determination
                                    of Earnings:
                                    Excess
                                    Deferrals shall be adjusted for any earnings
                                    up to the date of distribution. The
                                    amount of earnings allocable to Excess Deferrals
                                    is the sum of (1) income or
                                    loss allocable to the Participant’s Elective Deferral Account for the Plan Year
                                    multiplied by a fraction, the numerator of which
                                    is such Participant’s Excess
                                    Deferrals for the Plan Year and the denominator
                                    is the Participant’s account
                                    balance attributable to Elective Deferrals as
                                    of the beginning of the Plan Year
                                    plus the Participant’s Elective Deferrals for the Plan Year and (2)
                                    10 percent
                                    of the amount determined under (1) multiplied
                                    by the number of whole calendar
                                    months between the end of the Plan Year and the
                                    date of distribution, counting
                                    the month of distribution if distribution occurs
                                    after the 15th day of such
                                    month. Notwithstanding, the Committee may use
                                    any reasonable method for
                                    computing the income allocable to Excess Deferrals,
                                    provided the method is used
                                    consistently for all Participants and for all
                                    corrective distributions under the
                                    Plan for the Plan Year, and is used by the Plan
                                    for allocating income to
                                    Participants’ accounts. The plan will not fail to use a reasonable
                                    method of
                                    computing the income allocable to Excess Deferrals
                                    merely because the income
                                    allocable to Excess Deferrals is determined on
                                    a date that is no more than seven
                                    days before the distribution.

                                   

                                  
                                    	 	
                                            (d)

                                          	
                                            Catch-Up
                                              Contributions.
                                              All Participants who have attained
                                              age 50 before the close of the Plan
                                              Year shall be eligible to make Catch-Up
                                              Contributions in an amount
                                              expressed as a stated dollar amount,
                                              in the manner prescribed by the
                                              Employer and in accordance with, and
                                              subject to the limitations of, Code
                                              Section 414(v). For 2007 the Catch-Up
                                              Contribution Limit is $5,000. Such
                                              Catch-Up Contributions shall not be
                                              taken into account for purposes of
                                              the
                                              provisions of the Plan implementing
                                              the required limitations of Code
                                              Sections 402(g) and 415. The Plan shall
                                              not be treated as failing to
                                              satisfy the provisions of the Plan
                                              implementing the requirements of Code
                                              Sections 401(k)(3), 401(k)(11), 401(k)(12),
                                              410(b), or 416, as applicable,
                                              by reason of the making of such Catch-Up
                                              Contributions.

                                          

                                  

                                   

                                  
                                    3.2  Employer
                                      Match Contributions.
                                      

                                     

                                    

                                      
                                        	 	
                                                (a)

                                              	
                                                Employer
                                                  Match Contributions may be made
                                                  in the form of Company Stock or
                                                  cash.
                                                  However, Employer Match Contributions
                                                  can only be made in cash for
                                                  Participants who are employed by
                                                  Telephone USA of Wisconsin,
                                                  LLC.

                                              

                                      

                                       

                                      
                                        	 	
                                                (b)

                                              	
                                                Except
                                                  as stated in Section 3.2(f) below,
                                                  effective January 1, 2006, each
                                                  Participant will receive an Employer
                                                  Match Contribution in an amount
                                                  equal
                                                  to 60% of the amount of the Participant’s Elective Deferrals that do not
                                                  exceed 6% of the Participant’s Compensation.

                                              

                                      

                                       

                                      
                                        	 	
                                                (c)

                                              	
                                                Effective
                                                  January 1, 2007, each Participant,
                                                  except as stated in Sections 3.2(e)
                                                  and
                                                  (f) below, will receive an Employer
                                                  Match Contribution in an amount
                                                  equal
                                                  to the sum of - 

                                              

                                      

                                       

                                      
                                        
                                          	 	
                                                  (1)

                                                	
                                                  100%
                                                    of the amount of the Participant’s Elective Deferrals that do
                                                    not exceed
                                                    3% of the Participant’s Compensation;
                                                    and

                                                

                                        

                                         

                                        
                                          	 	
                                                  (2)

                                                	
                                                  50%
                                                    of the amount of the Participant’s Elective Deferrals that exceed
                                                    3% of
                                                    the Participant’s Compensation but that do not
                                                    exceed 5% of the
                                                    Participant’s Compensation; and 

                                                

                                        

                                         

                                        
                                          	 	
                                                  (3)

                                                	
                                                  25%
                                                    of the amount of the Participant’s Elective Deferrals that exceed
                                                    5% of
                                                    the Participant’s Compensation but that do not
                                                    exceed 7% of the
                                                    Participant’s Compensation. 

                                                

                                        

                                         

                                        
                                          
                                            	 	
                                                    (d)

                                                  	
                                                    Effective
                                                      January 1, 2008, each Participant,
                                                      except as stated in Sections
                                                      3.2(e) and
                                                      (f) below, will receive an
                                                      Employer Match Contribution
                                                      in an amount equal
                                                      to the sum of - 

                                                  

                                          

                                          

                                            
                                              	 	
                                                      (1)

                                                    	
                                                      100%
                                                        of the amount of the Participant’s Elective Deferrals that
                                                        do not exceed
                                                        3% of the Participant’s Compensation;
                                                        and

                                                    

                                            

                                             

                                            
                                              	 	
                                                      (2)

                                                    	
                                                      50%
                                                        of the amount of the Participant’s Elective Deferrals that
                                                        exceed 3% of
                                                        the Participant’s Compensation but that do
                                                        not exceed 5% of the
                                                        Participant’s Compensation.

                                                    

                                            

                                            

                                              

                                               

                                              
                                                	 	
                                                        (e)

                                                      	
                                                        Century
                                                          Marketing Solutions, LLC
                                                          Match.
                                                          Notwithstanding the Match
                                                          Contribution formula at
                                                          Sections 3.2(c) and (d)
                                                          each Participant who is
                                                          employed with Century Marketing
                                                          Solutions, LLC
                                                          will receive an Employer
                                                          Match Contribution in an
                                                          amount equal to 60% of
                                                          the amount of the Participant’s Elective Deferrals that
                                                          do not exceed 6%
                                                          of the Participant’s Compensation.

                                                      

                                              

                                               

                                              
                                                	 	
                                                        (f)

                                                      	
                                                        CenturyTel
                                                          Security Systems, Inc.
                                                          Match.
                                                          Notwithstanding the Match
                                                          Contribution formula at
                                                          Sections 3.2(b), (c) and
                                                          (d) each Participant who
                                                          is employed with CenturyTel
                                                          Security Systems,
                                                          Inc. and its subsidiaries
                                                          will receive an Employer
                                                          Match Contribution in
                                                          an amount equal to 10%
                                                          of the amount of the Participant’s Elective
                                                          Deferrals that do not exceed
                                                          6% of the Participant’s
                                                          Compensation.

                                                      

                                              

                                               

                                              
                                                	 	
                                                        (g)

                                                      	
                                                        Employer
                                                          Match Contributions will
                                                          be calculated on a payroll
                                                          period basis. No
                                                          contributions will be made
                                                          to “true up” the Employer Match Contributions
                                                          after the end of the Plan
                                                          Year. 

                                                      

                                              

                                               

                                              
                                                	 	
                                                        (h)

                                                      	
                                                        Employer
                                                          Match Contributions made
                                                          on behalf of a Participant,
                                                          as adjusted for
                                                          withdrawals thereof, investment
                                                          gain and losses, and income
                                                          or expenses,
                                                          shall be credited to such
                                                          Participant’s Employer Match Account.
                                                          

                                                      

                                              

                                               

                                              
                                                	 	
                                                        (i)

                                                      	
                                                        Any
                                                          Employer Match Contributions
                                                          that are attributable to
                                                          Excess Deferrals
                                                          shall be forfeited and
                                                          applied to reduce Employer
                                                          Contributions to the
                                                          Plan.

                                                      

                                              

                                               

                                              
                                                	 	
                                                        (j)

                                                      	
                                                        Any
                                                          Employer Match Contribution
                                                          with respect to Excess
                                                          Contributions that are
                                                          distributed shall be forfeited.

                                                      

                                              

                                               

                                              
                                                	 	
                                                        (k)

                                                      	
                                                        Employer
                                                          Match Contributions shall
                                                          be fully vested at all
                                                          times except as provided
                                                          in paragraphs (i) and (j)
                                                          above.

                                                      

                                              

                                               

                                              
                                                	 	
                                                        (l)

                                                      	
                                                        The
                                                          Employer Match Contribution
                                                          formula shall continue
                                                          in effect until
                                                          otherwise changed by resolution
                                                          of the Employer’s Board of
                                                          Directors.

                                                      

                                              

                                               

                                              3.3  Additional
                                                Match Contributions. 
The
                                                Employer may make an Additional Match
                                                Contribution to the Additional Match
                                                Accounts in the Plan in such amount
                                                as the Employer, in its discretion,
                                                may
                                                determine. Any such Additional Match
                                                Contribution shall be made on behalf
                                                of
                                                each Participant who (i) was an active
                                                Participant in the Plan at any time
                                                during the Plan Year and (ii) was
                                                an Employee on the last day of the
                                                Plan Year.
                                                The Additional Match Contribution
                                                shall be allocated to each such Participant’s
                                                Additional Match Account in the same
                                                proportion as the Employer Match
                                                Contributions on behalf of such Participant
                                                bears to the Employer Match
                                                Contributions on behalf of all Participants
                                                that qualify for Additional Match
                                                Contributions. Additional Match Contributions
                                                shall be fully vested at all
                                                times.

                                               

                                              3.4  Profit
                                                Sharing Contributions.  
                                                For any Plan Year, the Employer may
                                                make discretionary Profit Sharing
                                                Contributions to the Plan. Profit
                                                Sharing Contributions shall be fully
                                                vested at
                                                all times.

                                               

                                              3.5  Forfeitures.  
                                                Forfeitures shall be used to reduce
                                                Employer obligations to make Employer
                                                Match
                                                Contributions or Profit Sharing Contributions
                                                or, at the discretion of the
                                                Committee, applied toward Plan expenses.

                                               

                                              3.6  Payment
                                                of Contributions; Timing.  
                                                The Employer Match Contributions,
                                                Additional Match Contributions and
                                                Profit
                                                Sharing Contributions made pursuant
                                                to this Article III of the Plan shall
                                                become
                                                due on the last day in such Plan
                                                Year, unless actually paid prior
                                                thereto. The
                                                Employer shall pay to the Trustee
                                                all Employer contributions not later
                                                than the
                                                due date (including extensions) of
                                                the Employer’s federal income tax return for
                                                the taxable year ending with or within
                                                the Plan Year.

                                               

                                              3.7  Rollovers
                                                and Transfers.  
                                                A Participant may pay over to the
                                                Dollars & Sense Trust an amount which
                                                constitutes a qualified rollover
                                                contribution under Section 402(c)
                                                or 408(d)(3)
                                                of the Code.

                                              

                                                
                                                  	 	
                                                          (a)

                                                        	
                                                          The
                                                            Plan will accept, in
                                                            addition to the rollovers
                                                            described in the previous
                                                            paragraph, an eligible
                                                            rollover distribution
                                                            from an annuity contract
                                                            described in Section
                                                            403(b) of the Code, excluding
                                                            after-tax employee
                                                            contributions, and distributions
                                                            from an eligible plan
                                                            under Section
                                                            457(b) of the Code that
                                                            is maintained by a State,
                                                            political subdivision
                                                            of
                                                            a state or any agency
                                                            or instrumentality of
                                                            a state or political
                                                            subdivision of a state.

                                                        

                                                

                                                 

                                                
                                                  	 	
                                                          (b)

                                                        	
                                                          The
                                                            Trustee may accept a
                                                            direct transfer of funds,
                                                            pursuant to Section
                                                            401(a)(31) of the Code
                                                            from a plan which the
                                                            Committee reasonably
                                                            believes
                                                            to be qualified under
                                                            Section 40l(a) of the
                                                            Code, in which a Participant
                                                            was a participant.

                                                        

                                                

                                                 

                                                
                                                  	 	
                                                          (c)

                                                        	
                                                          The
                                                            Trustee of the Dollars
& Sense Trust may accept
                                                            a transfer of funds
                                                            from the ESOP Trusts
                                                            pursuant to diversification
                                                            elections of Participants
                                                            under Section 401(a)(28)
                                                            of the Code and Section
                                                            10.3 of the
                                                            Plan.

                                                        

                                                

                                                 

                                                
                                                  	 	
                                                          (d)

                                                        	
                                                          Any
                                                            such rollover or transfer
                                                            to the Plan shall constitute
                                                            a part of the
                                                            Participant’s Accrued Benefit under
                                                            the Plan, shall be accounted
                                                            for
                                                            separately and shall
                                                            be fully vested at all
                                                            times.
                                                            

                                                        

                                                

                                                
                                                   

                                                  3.8  Restoration
                                                    of Forfeiture.
                                                    If a
                                                    Participant forfeited employer
                                                    contributions as a participant
                                                    in the ESOP or
                                                    CenturyTel Fiber Company II,
                                                    LLC 401(k) Plan and Trust (“LightCore Plan”), and
                                                    returns to service prior to incurring
                                                    five (5) “Breaks in Service,” the dollar
                                                    amount forfeited shall be restored
                                                    to the applicable account at
                                                    the time of
                                                    reemployment. Notwithstanding,
                                                    if either plan required the reemployed
                                                    Participant to return the vested
                                                    employer contributions before
                                                    the dollar amount
                                                    forfeited will be restored, such
                                                    requirement is incorporated herein.
                                                    

                                                   

                                                  The
                                                    definitions of “Breaks in Service,” and “Years of Service,” vesting provisions,
                                                    and reemployment provisions of
                                                    the ESOP and LightCore Plan are
                                                    incorporated
                                                    herein to determine whether a
                                                    Participant is entitled to a
                                                    restoration of
                                                    forfeitures and to determine
                                                    the vesting of such amounts based
                                                    upon future
                                                    services.

                                                   

                                                  Prior
                                                    to
                                                    November 6, 2006, the employer
                                                    contributions in the ESOP vested
                                                    after five (5)
                                                    Years of Service. On November
                                                    6, 2006, the ESOP was amended
                                                    to fully vest active
                                                    Participants. Prior to the merger
                                                    of the LightCore Plan into the
                                                    Plan, the
                                                    employer contributions in the
                                                    LightCore Plan vested in accordance
                                                    with a three
                                                    (3) year graded vesting schedule:
                                                    Less than 1 year - 0%; 1 year
                                                    but less than 2
                                                    years -33%; 2 years but less
                                                    than 3 years - 67%; and 3 or
                                                    more years - 100%.

                                                   

                                                  The
                                                    funds
                                                    for such restoration shall be
                                                    taken from any available forfeited
                                                    amounts at the
                                                    time the Participant is reemployed
                                                    or, if such forfeited amounts
                                                    are
                                                    insufficient to provide the restoration,
                                                    shall be provided by an Employer
                                                    contribution. If any restored
                                                    amounts are later forfeited,
                                                    such forfeitures
                                                    shall be used to reduce Employer
                                                    obligations to make Employer
                                                    Match
                                                    Contributions or Profit Sharing
                                                    Contributions or, as the direction
                                                    of the
                                                    Committee, to pay Plan expenses.

                                                   

                                                  3.9  Average
                                                    Actual Deferral Percentage Test
                                                    Under Section 401(k) of the
                                                    Code.

                                                  

                                                    
                                                      	 	
                                                              (a)

                                                            	
                                                              General
                                                                Tests.
                                                                Notwithstanding any
                                                                other provisions
                                                                in the Plan, for
                                                                any Plan Year, the
                                                                Employer shall be
                                                                permitted to impose
                                                                an administrative
                                                                limit on Elective
                                                                Deferrals for any
                                                                Highly Compensated
                                                                Employee, to the
                                                                extent necessary
                                                                to
                                                                ensure that the Plan
                                                                satisfies one of
                                                                the following tests:
                                                                

                                                            

                                                    

                                                     

                                                    
                                                      	 	
                                                              (1)

                                                            	
                                                              The
                                                                Average Actual Deferral
                                                                Percentage for eligible
                                                                Highly Compensated
                                                                Employees for the
                                                                Plan Year shall not
                                                                exceed the Average
                                                                Actual Deferral
                                                                Percentage for eligible
                                                                Non-Highly Compensated
                                                                Employees for the
                                                                Plan Year
                                                                multiplied by 1.25;
                                                                or

                                                            

                                                    

                                                     

                                                    
                                                      	 	
                                                              (2)

                                                            	
                                                              the
                                                                Average Actual Deferral
                                                                Percentage for eligible
                                                                Highly Compensated
                                                                Employees for the
                                                                Plan Year shall not
                                                                exceed the Average
                                                                Actual Deferral
                                                                Percentage for eligible
                                                                Non-Highly Compensated
                                                                Employees for the
                                                                Plan Year
                                                                multiplied by two
                                                                (2), provided that
                                                                the Average Actual
                                                                Deferral
                                                                Percentage for eligible
                                                                Highly Compensated
                                                                Employees does not
                                                                exceed the
                                                                Average Actual Deferral
                                                                Percentage for eligible
                                                                Non-Highly Compensated
                                                                Employees by more
                                                                than two (2) percentage
                                                                points.

                                                            

                                                    

                                                    

                                                      At
                                                        the
                                                        Committee’s election the test described
                                                        above may be performed in
                                                        accordance
                                                        with the alternatives described
                                                        in Treasury Regulation Section
                                                        1.401(k)-2(a)(1)(iii) for
                                                        plans that permit participation
                                                        prior to the minimum
                                                        age and service period described
                                                        in Section 410(a)(1)(A) of
                                                        the
                                                        Code.

                                                       

                                                      
                                                        	 	
                                                                (b)

                                                              	
                                                                Testing
                                                                  Method.
                                                                  The Company elects
                                                                  to use the current
                                                                  year testing method
                                                                  for determining
                                                                  the Actual Deferral
                                                                  Percentage for
                                                                  the Non-Highly
                                                                  Compensated
                                                                  Participants. This
                                                                  method has been
                                                                  used by the Plan
                                                                  and each Merged
                                                                  Plan
                                                                  for the prior five
                                                                  years. The Company
                                                                  may elect to change
                                                                  to the prior
                                                                  year method as
                                                                  provided for in
                                                                  Internal Revenue
                                                                  Service Notice
                                                                  98-1 or its
                                                                  subsequent modification
                                                                  and Treasury Regulation
                                                                  Section
                                                                  1.401(k)-2.

                                                              

                                                      

                                                       

                                                      
                                                        	 	
                                                                (c)

                                                              	
                                                                Definitions.
                                                                  For purposes of
                                                                  this Section 3.9
                                                                  of the Plan, the
                                                                  following definitions
                                                                  shall apply:

                                                              

                                                      

                                                       

                                                      
                                                        	 	
                                                                (1)

                                                              	
                                                                Actual
                                                                  Deferral Percentage
                                                                  (ADP) shall mean,
                                                                  for a group of
                                                                  Participants for
                                                                  a Plan Year, the
                                                                  average
                                                                  deferral ratio
                                                                  (“ADR”) (calculated separately
                                                                  for each Participant
                                                                  in such
                                                                  group) of (i) the
                                                                  amount of Employer
                                                                  contributions actually
                                                                  paid over to
                                                                  the Trust on behalf
                                                                  of such Participant
                                                                  for the Plan Year
                                                                  to (ii) the
                                                                  Total Compensation
                                                                  of the Participant
                                                                  for such Plan Year.
                                                                  Employer
                                                                  contributions on
                                                                  behalf of any Participant
                                                                  shall include:
                                                                  (i) any Elective
                                                                  Deferrals made
                                                                  pursuant to the
                                                                  Participant’s deferral election
                                                                  (including
                                                                  Excess Deferrals
                                                                  of Highly Compensated
                                                                  Employees), and
                                                                  (ii) at the
                                                                  election of the
                                                                  Committee, and
                                                                  provided the requirements
                                                                  described in
                                                                  Treasury Regulation
                                                                  Section 1.401(k)-2(a)(6)
                                                                  are satisfied,
                                                                  Qualified
                                                                  Non-Elective Contributions
                                                                  and Qualified Matching
                                                                  Contributions,
                                                                  but
                                                                  excluding (A) Catch-Up
                                                                  Contributions,
                                                                  (B) Excess Deferrals
                                                                  of Non-Highly
                                                                  Compensated Employees
                                                                  that arise solely
                                                                  from Elective Deferrals
                                                                  made under
                                                                  the Plan or plans
                                                                  of this Employer,
                                                                  (C) Elective Deferrals
                                                                  that are taken
                                                                  into account in
                                                                  the Contribution
                                                                  Percentage Test
                                                                  (provided the ADP
                                                                  test is
                                                                  satisfied both
                                                                  with and without
                                                                  exclusion of these
                                                                  Elective Deferrals);
                                                                  and (D) Elective
                                                                  Deferrals made
                                                                  under Code Section
                                                                  414(u) by reason
                                                                  of a
                                                                  Participant’s qualified military
                                                                  service. If no
                                                                  Elective Deferrals,
                                                                  Qualified Non-Elective
                                                                  Contributions and
                                                                  Qualified Matching
                                                                  Contributions
                                                                  are taken into
                                                                  account with respect
                                                                  to an Employee
                                                                  for the year, the
                                                                  ADR
                                                                  of the Employee
                                                                  is zero.

                                                              

                                                      

                                                       

                                                      
                                                        	 	
                                                                (2)

                                                              	
                                                                Average
                                                                  Actual Deferral
                                                                  Percentage
                                                                  shall mean the
                                                                  average (expressed
                                                                  as a percentage)
                                                                  of the Actual Deferral
                                                                  Percentages of
                                                                  either eligible
                                                                  Highly Compensated
                                                                  Employees or Non-Highly
                                                                  Compensated Employees.

                                                              

                                                      

                                                       

                                                      
                                                        	 	
                                                                (d)

                                                              	
                                                                Special
                                                                  Rules.
                                                                  The following special
                                                                  rules shall apply
                                                                  for purposes of
                                                                  this Section
                                                                  3.9:

                                                              

                                                      

                                                       

                                                      
                                                        	 	
                                                                (1)

                                                              	
                                                                The
                                                                  Actual Deferral
                                                                  Percentage for
                                                                  any eligible Highly
                                                                  Compensated Employee
                                                                  for the Plan Year
                                                                  and who is eligible
                                                                  to have Elective
                                                                  Deferrals or
                                                                  Qualified Non-Elective
                                                                  Contributions or
                                                                  Qualified Matching
                                                                  Contributions
                                                                  allocated to his
                                                                  account under two
                                                                  or more plans,
                                                                  or arrangements,
                                                                  described in Section
                                                                  401(k) of the Code
                                                                  that are maintained
                                                                  by the
                                                                  Employer or an
                                                                  Affiliated Employer
                                                                  shall be determined
                                                                  as if all such
                                                                  Elective Deferrals,
                                                                  Qualified Non-Elective
                                                                  Contributions and
                                                                  Qualified
                                                                  Matching Contributions
                                                                  were made under
                                                                  a single arrangement.
                                                                  If a Highly
                                                                  Compensated Employee
                                                                  participates in
                                                                  two or more cash
                                                                  or deferred
                                                                  arrangements that
                                                                  have different
                                                                  Plan Years, all
                                                                  cash or deferred
                                                                  arrangements ending
                                                                  with or within
                                                                  the same calendar
                                                                  year shall be treated
                                                                  as a single arrangement.
                                                                  Notwithstanding
                                                                  the foregoing,
                                                                  certain plans will
                                                                  be treated as separately
                                                                  if mandatorily
                                                                  disaggregated under
                                                                  regulations
                                                                  under Section 401(k)
                                                                  of the Code.

                                                              

                                                      

                                                       

                                                      
                                                        	 	
                                                                (2)

                                                              	
                                                                In
                                                                  the event that
                                                                  this Plan satisfies
                                                                  the requirements
                                                                  of Section 401(k),
                                                                  401(a)(4) or 410(b)
                                                                  of the Code only
                                                                  if aggregated with
                                                                  one or more other
                                                                  plans, or if one
                                                                  or more other plans
                                                                  satisfy the requirements
                                                                  of Sections
                                                                  401(a)(4) and 410(b)
                                                                  of the Code only
                                                                  if aggregated with
                                                                  this Plan, then
                                                                  this Section shall
                                                                  be applied by determining
                                                                  the ADP of Employees
                                                                  as if
                                                                  all such plans
                                                                  were a single plan.
                                                                  Plans may be aggregated
                                                                  in order to
                                                                  satisfy Section
                                                                  401(k) of the Code
                                                                  only if they have
                                                                  the same Plan Year
                                                                  and use the same
                                                                  ADP testing method.
                                                                  

                                                              

                                                      

                                                       

                                                      
                                                        	 	
                                                                (3)

                                                              	
                                                                For
                                                                  purposes of determining
                                                                  the ADP test, Elective
                                                                  Deferrals, Qualified
                                                                  Non-Elective Contributions
                                                                  and Qualified Matching
                                                                  Contributions must
                                                                  be
                                                                  made before the
                                                                  last day of the
                                                                  12-month period
                                                                  immediately following
                                                                  the
                                                                  Plan Year to which
                                                                  contributions
                                                                  relate.

                                                              

                                                      

                                                       

                                                      
                                                        	 	
                                                                (4)

                                                              	
                                                                The
                                                                  Employer shall
                                                                  maintain records
                                                                  sufficient to demonstrate
                                                                  satisfaction of
                                                                  the ADP test and
                                                                  the amount of Qualified
                                                                  Non-Elective Contributions
                                                                  or
                                                                  Qualified Matching
                                                                  Contributions,
                                                                  or both, used in
                                                                  such
                                                                  test.

                                                              

                                                      

                                                       

                                                      
                                                        	 	
                                                                (5)

                                                              	
                                                                Treasury
                                                                  Regulations Sections
                                                                  1.401(k)-1 and
                                                                  1.401(k)-2 are
                                                                  incorporated herein
                                                                  for
                                                                  determining the
                                                                  Elective Deferrals,
                                                                  Qualified Non-Elective
                                                                  Contributions,
                                                                  Qualified Matching
                                                                  Contributions and
                                                                  Actual Deferral
                                                                  Percentage of any
                                                                  Participant.

                                                              

                                                      

                                                      

                                                        
                                                          	 	
                                                                  (e)

                                                                	
                                                                  Distribution
                                                                    of Excess Contributions.
                                                                    Notwithstanding
                                                                    any other provisions
                                                                    of this Plan,
                                                                    Excess Contributions
                                                                    (defined below),
                                                                    plus any income
                                                                    and minus any
                                                                    loss allocable
                                                                    thereto,
                                                                    shall be distributed
                                                                    no later than
                                                                    the last day
                                                                    of each Plan
                                                                    Year to
                                                                    Participants
                                                                    to whose accounts
                                                                    such Excess Contributions
                                                                    were allocated
                                                                    for the preceding
                                                                    Plan Year except
                                                                    to the extent
                                                                    the Excess Contributions
                                                                    are classified
                                                                    as Catch-Up Contributions.
                                                                    If such excess
                                                                    amounts are
                                                                    distributed more
                                                                    than 2 1⁄2 months after
                                                                    the last day
                                                                    of the Plan Year
                                                                    in
                                                                    which such excess
                                                                    amounts arose,
                                                                    a ten percent
                                                                    (10%) excise
                                                                    tax will be
                                                                    imposed on the
                                                                    Employer maintaining
                                                                    the Plan with
                                                                    respect to such
                                                                    amounts.
                                                                    Excess Contributions
                                                                    are allocated
                                                                    to the Highly
                                                                    Compensated Employees
                                                                    with the largest
                                                                    amounts of Employer
                                                                    contributions
                                                                    taken into account
                                                                    in
                                                                    calculating the
                                                                    ADP test for
                                                                    the year in which
                                                                    the excess arose,
                                                                    beginning
                                                                    with the Highly
                                                                    Compensated Employee
                                                                    with the largest
                                                                    amount of such
                                                                    Employer contributions
                                                                    and continuing
                                                                    in descending
                                                                    order until all
                                                                    the
                                                                    Excess Contributions
                                                                    have been allocated.
                                                                    For purposes
                                                                    of the preceding
                                                                    sentence, the
“largest amount” is determined
                                                                    after distribution
                                                                    of any
                                                                    Excess Contributions.
                                                                    See paragraphs
                                                                    (i) and (j) of
                                                                    Section 3.2 regarding
                                                                    forfeiture of
                                                                    the Employer
                                                                    Matching
                                                                    Contribution.

                                                                

                                                        

                                                         

                                                        Excess
                                                          Contributions (including
                                                          the amounts recharacterized)
                                                          shall be treated as Annual
                                                          Additions under the Plan.

                                                         

                                                        Determination
                                                          of Income or Loss.
                                                          Excess
                                                          Contributions shall be
                                                          adjusted for any income
                                                          (gain or loss) up to the
                                                          date of
                                                          distribution. The income
                                                          or loss allocable to Excess
                                                          Contributions allocated
                                                          to
                                                          each Participant is the
                                                          sum of (1) income or loss
                                                          allocable to the Participant’s
                                                          Elective Deferral Account
                                                          (and, if applicable, the
                                                          Qualified Non-Elective
                                                          Contribution Account or
                                                          the Qualified Matching
                                                          Contribution Account or
                                                          both) for
                                                          the Plan Year multiplied
                                                          by a fraction, the numerator
                                                          of which is such
                                                          Participant’s Excess Contributions
                                                          for the year and the denominator
                                                          of which is
                                                          the Participant’s account balance attributable
                                                          to Elective Deferrals (and
                                                          Qualified Non-Elective
                                                          Contributions or Qualified
                                                          Matching Contributions,
                                                          or
                                                          both, if any of such contributions
                                                          are included in the ADP
                                                          test) without regard
                                                          to any income or loss occurring
                                                          during such Plan Year,
                                                          and (2) 10 percent of the
                                                          amount determined under
                                                          (1) multiplied by the number
                                                          of whole calendar months
                                                          between the end of the
                                                          Plan Year and the date
                                                          of distribution, counting
                                                          the
                                                          month of distribution if
                                                          distribution occurs after
                                                          the 15th
                                                          day of
                                                          such month. Notwithstanding,
                                                          the Committee may use any
                                                          reasonable method for
                                                          computing the income allocable
                                                          to Excess Contributions,
                                                          provided the method is
                                                          used consistently for all
                                                          Participants and for all
                                                          corrective distributions
                                                          under the Plan for the
                                                          Plan Year, and is used
                                                          by the Plan for allocating
                                                          income
                                                          to Participants’ accounts. The Plan will
                                                          not fail to use a reasonable
                                                          method
                                                          merely because the income
                                                          allocable to Excess Contributions
                                                          is determined on a
                                                          date that is no more than
                                                          seven days before the distribution.

                                                         

                                                        Accounting
                                                          for Excess Contributions.
                                                          Excess
                                                          Contributions allocated
                                                          to a Participant shall
                                                          be distributed from the
                                                          Participant’s Elective Deferral Account
                                                          and Qualified Matching
                                                          Contribution
                                                          Account (if applicable)
                                                          in proportion to the Participant’s Elective Deferrals
                                                          and Qualified Matching
                                                          Contributions (to the extent
                                                          used in the ADP test) for
                                                          the Plan Year. Excess Contributions
                                                          shall be distributed from
                                                          the Participant’s
                                                          Qualified Non-Elective
                                                          Contribution Account only
                                                          to the extent that such
                                                          Excess
                                                          Contributions exceed the
                                                          balance in the Participant’s Elective Deferral Account
                                                          and Qualified Matching
                                                          Contribution Account.

                                                         

                                                        For
                                                          purposes of this Section,
“Excess Contributions” shall mean the excess of
                                                          Elective Deferrals on behalf
                                                          of Highly Compensated Employees
                                                          for a Plan Year
                                                          over the maximum amount
                                                          of such deferrals permitted
                                                          under the ADP test.

                                                         

                                                        3.10  Limitations
                                                          on Employee Contributions
                                                          and Employer Matching
                                                          Contributions.

                                                        

                                                          
                                                            	 	
                                                                    (a)

                                                                  	
                                                                    General
                                                                      Tests.
                                                                      Notwithstanding
                                                                      any other provisions
                                                                      in the Plan,
                                                                      for any Plan
                                                                      Year, the
                                                                      Employer shall
                                                                      be permitted
                                                                      to impose an
                                                                      administrative
                                                                      limit on Elective
                                                                      Deferrals,
                                                                      as described
                                                                      in Section
                                                                      3.1 of the
                                                                      Plan, for any
                                                                      Highly
                                                                      Compensated
                                                                      Employee to
                                                                      the extent
                                                                      necessary to
                                                                      ensure that
                                                                      the Plan
                                                                      satisfies one
                                                                      of the following
                                                                      tests:

                                                                  

                                                          

                                                           

                                                          
                                                            	 	
                                                                    (1)

                                                                  	
                                                                    the
                                                                      Average Contribution
                                                                      Percentage
                                                                      for eligible
                                                                      Highly Compensated
                                                                      Employees
                                                                      for the Plan
                                                                      Year shall
                                                                      not exceed
                                                                      the Average
                                                                      Contribution
                                                                      Percentage
                                                                      for
                                                                      eligible Non-Highly
                                                                      Compensated
                                                                      Employees for
                                                                      the Plan Year
                                                                      multiplied
                                                                      by
                                                                      1.25; or 

                                                                  

                                                          

                                                           

                                                          
                                                            	 	
                                                                    (2)

                                                                  	
                                                                    the
                                                                      Average Contribution
                                                                      Percentage
                                                                      for eligible
                                                                      Highly Compensated
                                                                      Employees
                                                                      for the Plan
                                                                      Year shall
                                                                      not exceed
                                                                      the Average
                                                                      Contribution
                                                                      Percentage
                                                                      for
                                                                      eligible Non-Highly
                                                                      Compensated
                                                                      Employees for
                                                                      the Plan Year
                                                                      multiplied
                                                                      by
                                                                      two (2), provided
                                                                      that the Average
                                                                      Contribution
                                                                      Percentage
                                                                      for eligible
                                                                      Highly Compensated
                                                                      Employees does
                                                                      not exceed
                                                                      the Average
                                                                      Contribution
                                                                      Percentage
                                                                      for eligible
                                                                      Non-Highly
                                                                      Compensated
                                                                      Employees by
                                                                      more than two
                                                                      (2) percentage
                                                                      points.

                                                                  

                                                          

                                                          

                                                            At
                                                              the
                                                              Committee’s election, the test
                                                              described above may
                                                              be performed in accordance
                                                              with the alternatives
                                                              described in Treasury
                                                              Regulation Section
                                                              1.401(k)-2(a)(1)(iii)
                                                              for plans that permit
                                                              participation prior
                                                              to the minimum
                                                              age and service period
                                                              described in Section
                                                              410(a)(1)(A) of the
                                                              Code.

                                                             

                                                            
                                                              	 	
                                                                      (b)

                                                                    	
                                                                      Testing
                                                                        Method.
                                                                        The Company
                                                                        elects to
                                                                        use the current
                                                                        year testing
                                                                        method for
                                                                        determining
                                                                        the Actual
                                                                        Contribution
                                                                        Percentage
                                                                        for the Non-Highly
                                                                        Compensated
                                                                        Participants.
                                                                        This method
                                                                        has been
                                                                        used by the
                                                                        Plan and
                                                                        each Merged
                                                                        Plan
                                                                        for the prior
                                                                        five years.
                                                                        The Company
                                                                        may elect
                                                                        to change
                                                                        to the prior
                                                                        year method
                                                                        as provided
                                                                        for in Internal
                                                                        Revenue Service
                                                                        Notice 98-1
                                                                        or its
                                                                        subsequent
                                                                        modification,
                                                                        and Treasury
                                                                        Regulation
                                                                        Section
                                                                        1.401(m)-2.

                                                                    

                                                            

                                                             

                                                            
                                                              	 	
                                                                      (c)

                                                                    	
                                                                      Definitions.
                                                                        For purposes
                                                                        of this Section
                                                                        3.10 of the
                                                                        Plan, the
                                                                        following
                                                                        definitions
                                                                        shall apply:

                                                                    

                                                            

                                                            

                                                              
                                                                	 	
                                                                        (1)

                                                                      	
                                                                        Average
                                                                          Contribution
                                                                          Percentage
                                                                          (ACP) shall
                                                                          mean the
                                                                          average
                                                                          (expressed
                                                                          as a percentage)
                                                                          of the
                                                                          Contribution
                                                                          Percentage
                                                                          Amounts
                                                                          for a group
                                                                          of Participants
                                                                          (either
                                                                          Highly
                                                                          Compensated
                                                                          Employees
                                                                          or Non-Highly
                                                                          Compensated
                                                                          Employees)
                                                                          for the
                                                                          Plan
                                                                          Year.

                                                                      

                                                              

                                                               

                                                              
                                                                	 	
                                                                        (2)

                                                                      	
                                                                        Contribution
                                                                          Percentage
                                                                          shall mean
                                                                          the ratio
                                                                          (expressed
                                                                          as a percentage)
                                                                          of the
                                                                          Participant’s
                                                                          Contribution
                                                                          Percentage
                                                                          Amounts
                                                                          to the
                                                                          Compensation
                                                                          of the
                                                                          Participant.
                                                                          Sections
                                                                          1.401(m)-1
                                                                          and 1.401(m)-2
                                                                          of the
                                                                          Treasury
                                                                          Regulations
                                                                          are
                                                                          incorporated
                                                                          herein
                                                                          for determining
                                                                          the Contribution
                                                                          Percentage.

                                                                      

                                                              

                                                               

                                                              
                                                                	 	
                                                                        (3)

                                                                      	
                                                                        Aggregate
                                                                          Limit
                                                                          shall mean
                                                                          the sum
                                                                          of (i)
                                                                          125% of
                                                                          the greater
                                                                          of the
                                                                          Average
                                                                          Deferral
                                                                          Percentage
                                                                          of the
                                                                          Non-Highly
                                                                          Compensated
                                                                          Employees
                                                                          for the
                                                                          Plan Year
                                                                          or
                                                                          the Average
                                                                          Contribution
                                                                          Percentage
                                                                          of Non-Highly
                                                                          Compensated
                                                                          Employees
                                                                          under the
                                                                          Plan subject
                                                                          to Section
                                                                          401(m)
                                                                          of the
                                                                          Code for
                                                                          the Plan
                                                                          Year
                                                                          beginning
                                                                          with or
                                                                          within
                                                                          the Plan
                                                                          Year of
                                                                          the CODA
                                                                          and (ii)
                                                                          the lesser
                                                                          of
                                                                          200% or
                                                                          two plus
                                                                          the lesser
                                                                          of such
                                                                          Average
                                                                          Deferral
                                                                          Percentage
                                                                          or Average
                                                                          Contribution
                                                                          Percentage.

                                                                      

                                                              

                                                               

                                                              
                                                                	 	
                                                                        (4)

                                                                      	
                                                                        Contribution
                                                                          Percentage
                                                                          Amounts
                                                                          shall mean
                                                                          the sum
                                                                          of the
                                                                          Employee
                                                                          Contributions,
                                                                          Matching
                                                                          Contributions
                                                                          and Qualified
                                                                          Matching
                                                                          Contributions
                                                                          (to the
                                                                          extent
                                                                          not taken
                                                                          into account
                                                                          for purposes
                                                                          of the
                                                                          Average
                                                                          Deferral
                                                                          Percentage
                                                                          test) made
                                                                          under the
                                                                          Plan
                                                                          on behalf
                                                                          of the
                                                                          Participant
                                                                          for the
                                                                          Plan Year.
                                                                          Such Contribution
                                                                          Percentage
                                                                          Amounts
                                                                          shall not
                                                                          include
                                                                          Matching
                                                                          Contributions
                                                                          that are
                                                                          forfeited
                                                                          because
                                                                          the contributions
                                                                          to which
                                                                          they relate
                                                                          are Excess
                                                                          Deferrals,
                                                                          Excess
                                                                          Contributions
                                                                          or Excess
                                                                          Aggregate
                                                                          Contributions
                                                                          or
                                                                          additional
                                                                          Employee
                                                                          Contributions
                                                                          or Matching
                                                                          Contributions
                                                                          made under
                                                                          Code Section
                                                                          414(u)
                                                                          by reason
                                                                          of a Participant’s qualified
                                                                          military
                                                                          service.
                                                                          The Employer
                                                                          may include
                                                                          Qualified
                                                                          Non-Elective
                                                                          Contributions
                                                                          in
                                                                          the Contribution
                                                                          Percentage
                                                                          Amounts.
                                                                          The Employer
                                                                          also may
                                                                          elect to
                                                                          use
                                                                          Elective
                                                                          Deferrals
                                                                          in the
                                                                          Contribution
                                                                          Percentage
                                                                          Amounts
                                                                          so long
                                                                          as the
                                                                          Average
                                                                          Deferral
                                                                          Percentage
                                                                          test is
                                                                          met before
                                                                          the Elective
                                                                          Deferrals
                                                                          are
                                                                          used in
                                                                          the Actual
                                                                          Contribution
                                                                          Percentage
                                                                          test and
                                                                          continues
                                                                          to be met
                                                                          following
                                                                          the exclusion
                                                                          of those
                                                                          Elective
                                                                          Deferrals
                                                                          that are
                                                                          used to
                                                                          meet
                                                                          the Actual
                                                                          Contribution
                                                                          Percentage
                                                                          test. If
                                                                          no Employee
                                                                          Contributions,
                                                                          Matching
                                                                          Contributions,
                                                                          Elective
                                                                          Contributions,
                                                                          or Qualified
                                                                          Non-Elective
                                                                          Contributions
                                                                          are taken
                                                                          into account
                                                                          under this
                                                                          paragraph
                                                                          with respect
                                                                          to
                                                                          a Participant
                                                                          for the
                                                                          year, the
                                                                          Contribution
                                                                          Percentage
                                                                          Amount
                                                                          is
                                                                          zero.

                                                                      

                                                              

                                                               

                                                              
                                                                	 	
                                                                        (5)

                                                                      	
                                                                        Employee
                                                                          Contribution
                                                                          shall mean
                                                                          any contribution
                                                                          made to
                                                                          the plan
                                                                          by or on
                                                                          behalf
                                                                          of a
                                                                          Participant
                                                                          that is
                                                                          included
                                                                          in the
                                                                          Participant’s gross
                                                                          income
                                                                          in the
                                                                          year
                                                                          in which
                                                                          made and
                                                                          that is
                                                                          maintained
                                                                          under a
                                                                          separate
                                                                          account
                                                                          to which
                                                                          earnings
                                                                          and losses
                                                                          are allocated.

                                                                      

                                                              

                                                               

                                                              
                                                                	 	
                                                                        (6)

                                                                      	
                                                                        Matching
                                                                          Contribution
                                                                          shall mean
                                                                          an Employer
                                                                          contribution
                                                                          made to
                                                                          this or
                                                                          any other
                                                                          defined
                                                                          contribution
                                                                          plan on
                                                                          behalf
                                                                          of a Participant
                                                                          on account
                                                                          of a Participant’s
                                                                          Employee
                                                                          Contribution
                                                                          or Elective
                                                                          Deferral.
                                                                          

                                                                      

                                                              

                                                              

                                                                
                                                                  	 	
                                                                          (d)

                                                                        	
                                                                          Special
                                                                            Rules.
                                                                            The following
                                                                            special
                                                                            rules
                                                                            shall
                                                                            apply
                                                                            for purposes
                                                                            of this
                                                                            Section
                                                                            3.10:

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (1)

                                                                        	
                                                                          For
                                                                            purposes
                                                                            of this
                                                                            Section,
                                                                            the Contribution
                                                                            Percentage
                                                                            for any
                                                                            eligible
                                                                            Highly
                                                                            Compensated
                                                                            Employee
                                                                            for the
                                                                            Plan
                                                                            Year
                                                                            and who
                                                                            is eligible
                                                                            to have
                                                                            Contribution
                                                                            Percentage
                                                                            Amounts
                                                                            allocated
                                                                            to his
                                                                            or her
                                                                            account
                                                                            under
                                                                            two
                                                                            or more
                                                                            plans
                                                                            described
                                                                            in Section
                                                                            401(a)
                                                                            of the
                                                                            Code
                                                                            or arrangements
                                                                            described
                                                                            in Section
                                                                            401(k)
                                                                            of the
                                                                            Code
                                                                            that
                                                                            are maintained
                                                                            by the
                                                                            Employer
                                                                            or an
                                                                            Affiliated
                                                                            Employer
                                                                            shall
                                                                            be determined
                                                                            as if
                                                                            the total
                                                                            of
                                                                            such
                                                                            Contribution
                                                                            Percentage
                                                                            Amounts
                                                                            was made
                                                                            under
                                                                            each
                                                                            plan.
                                                                            If a
                                                                            Highly
                                                                            Compensated
                                                                            Employee
                                                                            participates
                                                                            in two
                                                                            or more
                                                                            cash
                                                                            or deferred
                                                                            arrangements
                                                                            that
                                                                            have
                                                                            different
                                                                            Plan
                                                                            Years,
                                                                            all cash
                                                                            or deferred
                                                                            arrangements
                                                                            ending
                                                                            with
                                                                            or within
                                                                            the same
                                                                            calendar
                                                                            year
                                                                            shall
                                                                            be treated
                                                                            as a
                                                                            single
                                                                            arrangement.
                                                                            Notwithstanding
                                                                            the foregoing,
                                                                            certain
                                                                            plans
                                                                            shall
                                                                            be treated
                                                                            as separate
                                                                            if mandatorily
                                                                            disaggregated
                                                                            under
                                                                            regulations
                                                                            under
                                                                            Section
                                                                            401(m)
                                                                            of the
                                                                            Code.

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (2)

                                                                        	
                                                                          In
                                                                            the event
                                                                            that
                                                                            this
                                                                            Plan
                                                                            satisfies
                                                                            the requirements
                                                                            of Section
                                                                            401(m),
                                                                            401(a)(4)
                                                                            or 410(b)
                                                                            of the
                                                                            Code
                                                                            only
                                                                            if aggregated
                                                                            with
                                                                            one or
                                                                            more
                                                                            other
                                                                            plans,
                                                                            or if
                                                                            one or
                                                                            more
                                                                            other
                                                                            plans
                                                                            satisfy
                                                                            the requirements
                                                                            of Sections
                                                                            401(a)(4)
                                                                            and 410(b)
                                                                            of the
                                                                            Code
                                                                            only
                                                                            if aggregated
                                                                            with
                                                                            this
                                                                            Plan,
                                                                            then
                                                                            this
                                                                            Section
                                                                            3.10
                                                                            of the
                                                                            Plan
                                                                            shall
                                                                            be applied
                                                                            by determining
                                                                            the
                                                                            contribution
                                                                            percentages
                                                                            of Participants
                                                                            as if
                                                                            all such
                                                                            plans
                                                                            were
                                                                            a
                                                                            single
                                                                            plan.
                                                                            Plans
                                                                            may be
                                                                            aggregated
                                                                            in order
                                                                            to satisfy
                                                                            Section
                                                                            401(m)
                                                                            of
                                                                            the Code
                                                                            only
                                                                            if they
                                                                            have
                                                                            the same
                                                                            Plan
                                                                            Year
                                                                            and use
                                                                            the same
                                                                            ACP testing
                                                                            method.

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (3)

                                                                        	
                                                                          For
                                                                            purposes
                                                                            of determining
                                                                            the Contribution
                                                                            Percentage
                                                                            test,
                                                                            Employee
                                                                            Contributions
                                                                            are considered
                                                                            to have
                                                                            been
                                                                            made
                                                                            in the
                                                                            Plan
                                                                            Year
                                                                            in which
                                                                            contributed
                                                                            to the
                                                                            Trust.
                                                                            Matching
                                                                            Contributions
                                                                            and Qualified
                                                                            Non-Elective
                                                                            Contributions
                                                                            will
                                                                            be considered
                                                                            made
                                                                            before
                                                                            the last
                                                                            day of
                                                                            the 12-month
                                                                            period
                                                                            immediately
                                                                            following
                                                                            the Plan
                                                                            Year
                                                                            to which
                                                                            contributions
                                                                            relate.

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (4)

                                                                        	
                                                                          The
                                                                            Employer
                                                                            shall
                                                                            maintain
                                                                            records
                                                                            sufficient
                                                                            to demonstrate
                                                                            satisfaction
                                                                            of
                                                                            the ACP
                                                                            test
                                                                            and the
                                                                            amount
                                                                            of Qualified
                                                                            Non-Elective
                                                                            Contributions
                                                                            or
                                                                            Qualified
                                                                            Matching
                                                                            Contributions
                                                                            or both,
                                                                            used
                                                                            in such
                                                                            test.

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (5)

                                                                        	
                                                                          Targeted
                                                                            Matching
                                                                            Contribution
                                                                            Limit.
                                                                            An Employer
                                                                            Match
                                                                            Contribution
                                                                            for a
                                                                            Plan
                                                                            Year
                                                                            is not
                                                                            taken
                                                                            into
                                                                            account
                                                                            under
                                                                            the test
                                                                            for a
                                                                            Non-Highly
                                                                            Compensated
                                                                            Employee
                                                                            (NHCE)
                                                                            to the
                                                                            extent
                                                                            it exceeds
                                                                            the greatest
                                                                            of: (a)
                                                                            five
                                                                            percent
                                                                            (5%)
                                                                            of the
                                                                            NHCE’s Total
                                                                            Compensation
                                                                            for the
                                                                            Plan
                                                                            Year;
                                                                            (b) the
                                                                            NHCE’s Elective
                                                                            Deferrals
                                                                            for the
                                                                            Plan
                                                                            Year;
                                                                            and (c)
                                                                            the product
                                                                            of two
                                                                            (2) times
                                                                            the Plan’s “representative
                                                                            matching
                                                                            rate”
and the
                                                                            NHCE’s Elective
                                                                            Deferrals
                                                                            for the
                                                                            Plan
                                                                            Year.
                                                                            The
                                                                            Plan’s “representative
                                                                            matching
                                                                            rate”
is the
                                                                            lowest
“matching
                                                                            rate”
for
                                                                            any eligible
                                                                            NHCE
                                                                            among
                                                                            a group
                                                                            of NHCEs
                                                                            that
                                                                            consists
                                                                            of half
                                                                            of all
                                                                            eligible
                                                                            NHCEs
                                                                            in the
                                                                            Plan
                                                                            for the
                                                                            Plan
                                                                            Year
                                                                            who make
                                                                            Elective
                                                                            Contributions
                                                                            for the
                                                                            Plan
                                                                            Year
                                                                            (or,
                                                                            if greater,
                                                                            the lowest
“matching
                                                                            rate”
for all
                                                                            eligible
                                                                            NHCEs
                                                                            in the
                                                                            Plan
                                                                            who are
                                                                            employed
                                                                            by the
                                                                            Employer
                                                                            on the
                                                                            last
                                                                            day of
                                                                            the Plan
                                                                            Year
                                                                            and who
                                                                            make
                                                                            Elective
                                                                            Contributions
                                                                            for
                                                                            the Plan
                                                                            Year).
                                                                            The “matching
                                                                            rate”
for an
                                                                            Employee
                                                                            generally
                                                                            is the
                                                                            Employer
                                                                            Match
                                                                            Contributions
                                                                            made
                                                                            for such
                                                                            Employee
                                                                            divided
                                                                            by the
                                                                            Employee’s Elective
                                                                            Deferrals
                                                                            for the
                                                                            Plan
                                                                            Year.
                                                                            If the
                                                                            matching
                                                                            rate
                                                                            is
                                                                            not the
                                                                            same
                                                                            for all
                                                                            levels
                                                                            of Elective
                                                                            Deferrals
                                                                            for an
                                                                            Employee,
                                                                            then
                                                                            the Employee’s “matching
                                                                            rate”
is determined
                                                                            assuming
                                                                            that
                                                                            an Employee’s
                                                                            Elective
                                                                            Deferrals
                                                                            are equal
                                                                            to six
                                                                            percent
                                                                            (6%)
                                                                            of Total
                                                                            Compensation.

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (6)

                                                                        	
                                                                          Treasury
                                                                            Regulations
                                                                            Sections
                                                                            1.401(m)-1
                                                                            and 1.40(m)-2
                                                                            are incorporated
                                                                            herein
                                                                            for
                                                                            determining
                                                                            Employer
                                                                            Match
                                                                            Contribution,
                                                                            Qualified
                                                                            Matching
                                                                            Contribution
                                                                            and Actual
                                                                            Contribution
                                                                            Percentage
                                                                            of any
                                                                            Participant.

                                                                        

                                                                

                                                                

                                                                  
                                                                    	 	
                                                                            (e)

                                                                          	
                                                                            Distribution
                                                                              of
                                                                              Excess
                                                                              Aggregate
                                                                              Contributions.
                                                                              Notwithstanding
                                                                              any
                                                                              other
                                                                              provision
                                                                              of
                                                                              this
                                                                              Plan,
                                                                              Excess
                                                                              Aggregate
                                                                              Contributions,
                                                                              plus
                                                                              any
                                                                              income
                                                                              and
                                                                              minus
                                                                              any
                                                                              loss
                                                                              allocable
                                                                              thereto,
                                                                              shall
                                                                              be
                                                                              forfeited,
                                                                              if
                                                                              forfeitable,
                                                                              or
                                                                              if
                                                                              not
                                                                              forfeitable,
                                                                              shall
                                                                              be
                                                                              distributed
                                                                              no
                                                                              later
                                                                              than
                                                                              the
                                                                              last
                                                                              day
                                                                              of
                                                                              each
                                                                              Plan
                                                                              Year
                                                                              to
                                                                              Participants
                                                                              to
                                                                              whose
                                                                              accounts
                                                                              such
                                                                              Excess
                                                                              Aggregate
                                                                              Contributions
                                                                              were
                                                                              allocated
                                                                              for
                                                                              the
                                                                              preceding
                                                                              Plan
                                                                              Year.
                                                                              If
                                                                              such
                                                                              Excess
                                                                              Aggregate
                                                                              Contributions
                                                                              are
                                                                              distributed
                                                                              more
                                                                              than
                                                                              21⁄2
months
                                                                              after
                                                                              the
                                                                              last
                                                                              day
                                                                              of
                                                                              the
                                                                              Plan
                                                                              Year
                                                                              in
                                                                              which
                                                                              such
                                                                              excess
                                                                              amounts
                                                                              arose,
                                                                              a ten
                                                                              percent
                                                                              (10%)
                                                                              excise
                                                                              tax
                                                                              will
                                                                              be
                                                                              imposed
                                                                              on
                                                                              the
                                                                              Employer
                                                                              maintaining
                                                                              the
                                                                              Plan
                                                                              with
                                                                              respect
                                                                              to
                                                                              those
                                                                              amounts.
                                                                              Excess
                                                                              Aggregate
                                                                              Contributions
                                                                              are
                                                                              allocated
                                                                              to
                                                                              the
                                                                              Highly
                                                                              Compensated
                                                                              Employees
                                                                              with
                                                                              the
                                                                              largest
                                                                              Contribution
                                                                              Percentage
                                                                              Amounts
                                                                              taken
                                                                              into
                                                                              account
                                                                              in
                                                                              calculating
                                                                              the
                                                                              ACP
                                                                              test
                                                                              for
                                                                              the
                                                                              year
                                                                              in
                                                                              which
                                                                              the
                                                                              excess
                                                                              arose,
                                                                              beginning
                                                                              with
                                                                              the
                                                                              Highly
                                                                              Compensated
                                                                              Employee
                                                                              with
                                                                              the
                                                                              largest
                                                                              amount
                                                                              of
                                                                              such
                                                                              Contribution
                                                                              Percentage
                                                                              Amounts
                                                                              and
                                                                              continuing
                                                                              in
                                                                              descending
                                                                              order
                                                                              until
                                                                              all
                                                                              the
                                                                              Excess
                                                                              Aggregate
                                                                              Contributions
                                                                              have
                                                                              been
                                                                              allocated.
                                                                              For
                                                                              purposes
                                                                              of
                                                                              the
                                                                              preceding
                                                                              sentence,
                                                                              the
“largest
                                                                              amount”
is
                                                                              determined
                                                                              after
                                                                              distribution
                                                                              of
                                                                              any
                                                                              Excess
                                                                              Aggregate
                                                                              Contributions.
                                                                              Excess
                                                                              Aggregate
                                                                              Contributions
                                                                              shall
                                                                              be
                                                                              treated
                                                                              as
                                                                              Annual
                                                                              Additions
                                                                              under
                                                                              the
                                                                              Plan.

                                                                          

                                                                  

                                                                   

                                                                  Determination
                                                                    of Income or
                                                                    Loss:
                                                                    Excess
                                                                    Aggregate Contributions
                                                                    shall be adjusted
                                                                    for any income
                                                                    (gain or loss)
                                                                    up to
                                                                    the date of distribution.
                                                                    The income or
                                                                    loss allocable
                                                                    to Excess Aggregate
                                                                    Contributions
                                                                    allocated to
                                                                    each Participant
                                                                    is the sum of
                                                                    (1) income or
                                                                    loss
                                                                    allocable to
                                                                    the Participant’s Employee Contributions
                                                                    and Matching
                                                                    Contributions
                                                                    and other amounts
                                                                    taken into account
                                                                    under this Section
                                                                    3.10 (including
                                                                    the
                                                                    contributions
                                                                    for the year),
                                                                    by a fraction,
                                                                    the numerator
                                                                    of which is such
                                                                    Participant’s Excess Aggregate
                                                                    Contributions
                                                                    for the year
                                                                    and the denominator
                                                                    of
                                                                    which is the
                                                                    Participant’s account balance
                                                                    attributable
                                                                    to Elective Employee
                                                                    Contributions
                                                                    and Matching
                                                                    Contributions
                                                                    and other amounts
                                                                    taken into account
                                                                    under this Section
                                                                    3.10 as of the
                                                                    beginning of
                                                                    the Plan Year
                                                                    and any additional
                                                                    such contributions
                                                                    for the year
                                                                    and (2) 10 percent
                                                                    of the amount
                                                                    determined
                                                                    under (1) multiplied
                                                                    by the number
                                                                    of whole calendar
                                                                    months between
                                                                    the end of
                                                                    the Plan Year
                                                                    and the date
                                                                    of distribution,
                                                                    counting the
                                                                    month of distribution
                                                                    if distribution
                                                                    occurs after
                                                                    the 15th
                                                                    day of
                                                                    such month. Notwithstanding,
                                                                    the Committee
                                                                    may use any reasonable
                                                                    method for
                                                                    computing the
                                                                    income allocable
                                                                    to Excess Aggregate
                                                                    Contributions,
                                                                    provided the
                                                                    method is used
                                                                    consistently
                                                                    for all Participants
                                                                    and for all corrective
                                                                    distributions
                                                                    under the Plan
                                                                    for the Plan
                                                                    Year, and is
                                                                    used by the Plan
                                                                    for
                                                                    allocating income
                                                                    to Participants’ accounts. The
                                                                    Plan will not
                                                                    fail to use a
                                                                    reasonable method
                                                                    merely because
                                                                    the income allocable
                                                                    to Excess Aggregate
                                                                    Contributions
                                                                    is determined
                                                                    on a date that
                                                                    is no more than
                                                                    seven days before
                                                                    the
                                                                    distribution.

                                                                   

                                                                  
                                                                    	 	
                                                                            (f)

                                                                          	
                                                                            Accounting
                                                                              for
                                                                              Excess
                                                                              Aggregate
                                                                              Contributions:
                                                                              Excess
                                                                              Aggregate
                                                                              Contributions
                                                                              allocated
                                                                              to
                                                                              a Participant
                                                                              shall
                                                                              be
                                                                              forfeited,
                                                                              if
                                                                              forfeitable,
                                                                              or
                                                                              distributed
                                                                              on
                                                                              a pro
                                                                              rata
                                                                              basis
                                                                              from
                                                                              the
                                                                              Matching
                                                                              Contribution
                                                                              Account
                                                                              and
                                                                              Qualified
                                                                              Matching
                                                                              Contribution
                                                                              Account
                                                                              (and,
                                                                              if
                                                                              applicable,
                                                                              the
                                                                              Participant’s Qualified
                                                                              Non-Elective
                                                                              Contribution
                                                                              Account
                                                                              or
                                                                              Elective
                                                                              Deferral
                                                                              Account,
                                                                              or
                                                                              both).

                                                                          

                                                                  

                                                                   

                                                                  For
                                                                    purposes of this
                                                                    Section, “Excess Aggregate
                                                                    Contributions” shall mean, with
                                                                    respect to any
                                                                    Plan Year, the
                                                                    excess of: 

                                                                   

                                                                  
                                                                    	 	
                                                                            (1)

                                                                          	
                                                                            The
                                                                              aggregate
                                                                              Contribution
                                                                              Percentage
                                                                              Amounts
                                                                              taken
                                                                              into
                                                                              account
                                                                              in
                                                                              computing
                                                                              the
                                                                              numerator
                                                                              of
                                                                              the
                                                                              Contribution
                                                                              Percentage
                                                                              actually
                                                                              made
                                                                              on
                                                                              behalf
                                                                              of
                                                                              Highly
                                                                              Compensated
                                                                              Employees
                                                                              for
                                                                              such
                                                                              Plan
                                                                              Year,
                                                                              over
                                                                              

                                                                          

                                                                  

                                                                   

                                                                  
                                                                    	 	
                                                                            (2)

                                                                          	
                                                                            The
                                                                              maximum
                                                                              Contribution
                                                                              Percentage
                                                                              Amounts
                                                                              permitted
                                                                              by
                                                                              the
                                                                              ACP
                                                                              test
                                                                              (determined
                                                                              by
                                                                              hypothetically
                                                                              reducing
                                                                              contributions
                                                                              made
                                                                              on
                                                                              behalf
                                                                              of
                                                                              Highly
                                                                              Compensated
                                                                              Employees
                                                                              in
                                                                              order
                                                                              of
                                                                              their
                                                                              Contribution
                                                                              Percentages
                                                                              beginning
                                                                              with
                                                                              the
                                                                              highest
                                                                              of
                                                                              such
                                                                              percentages).

                                                                          

                                                                  

                                                                  
                                                                     

                                                                    Such
                                                                      determination
                                                                      shall be made
                                                                      after first
                                                                      determining
                                                                      Excess Deferrals
                                                                      pursuant to
                                                                      Section 3.1
                                                                      and then determining
                                                                      Excess Contributions
                                                                      pursuant to
                                                                      Section
                                                                      3.9.

                                                                     

                                                                    
                                                                      3.11  Corrective
                                                                        Contributions.
                                                                        In lieu
                                                                        of distributing
                                                                        Excess Contributions
                                                                        as provided
                                                                        in Section
                                                                        3.9(e) above,
                                                                        the
                                                                        Employer
                                                                        may make
                                                                        contributions
                                                                        on behalf
                                                                        of Non-Highly
                                                                        Compensated
                                                                        Employees
                                                                        that are
                                                                        sufficient
                                                                        to satisfy
                                                                        the ADP test,
                                                                        provided
                                                                        such amount
                                                                        does not
                                                                        exceed the
                                                                        Target Contribution
                                                                        Limit. In
                                                                        addition,
                                                                        in lieu of
                                                                        distributing
                                                                        Excess Aggregate
                                                                        Contributions
                                                                        as provided
                                                                        in Section
                                                                        3.10(e) of
                                                                        the Plan,
                                                                        the
                                                                        Employer
                                                                        may make
                                                                        contributions
                                                                        on behalf
                                                                        of Non-Highly
                                                                        Compensated
                                                                        Employees
                                                                        that are
                                                                        sufficient
                                                                        to satisfy
                                                                        the ACP test,
                                                                        provided
                                                                        such amount
                                                                        does not
                                                                        exceed the
                                                                        Targets Contribution
                                                                        Limit.

                                                                       

                                                                      Targeted
                                                                        Contribution
                                                                        Limit.
                                                                        For
                                                                        purposes
                                                                        of either
                                                                        the ADP or
                                                                        ACP test,
                                                                        a Qualified
                                                                        Non-Elective
                                                                        Contributions
                                                                        cannot be
                                                                        taken into
                                                                        account for
                                                                        a Non-Highly
                                                                        Compensated
                                                                        Employee
                                                                        (“NHCE”) to
                                                                        the extent
                                                                        such contributions
                                                                        exceed the
                                                                        product of
                                                                        that Non-Highly
                                                                        Compensated
                                                                        Employee’s Total Compensation
                                                                        and the greater
                                                                        of five percent
                                                                        (5%) or two
                                                                        (2)
                                                                        times the
                                                                        Plan’s “representative
                                                                        contribution
                                                                        rate.” The Plan’s “representative
                                                                        contribution
                                                                        rate” is the lowest
“applicable
                                                                        contribution
                                                                        rate” (i.e., the
                                                                        sum
                                                                        of the Qualified
                                                                        Non-Elective
                                                                        Contributions
                                                                        made and
                                                                        Qualified
                                                                        Matching
                                                                        Contributions
                                                                        taken into
                                                                        account for
                                                                        an eligible
                                                                        NHCE employee
                                                                        divided by
                                                                        the
                                                                        eligible
                                                                        NHCE’s Total Compensation)
                                                                        among a group
                                                                        of eligible
                                                                        NHCEs that
                                                                        consists
                                                                        of half of
                                                                        all the eligible
                                                                        NHCEs for
                                                                        the Plan
                                                                        Year (or,
                                                                        if greater,
                                                                        the lowest
                                                                        contribution
                                                                        rate among
                                                                        any eligible
                                                                        NHCE in the
                                                                        group of
                                                                        all
                                                                        eligible
                                                                        NHCEs for
                                                                        the Plan
                                                                        Year who
                                                                        is employed
                                                                        by the Employer
                                                                        on the last
                                                                        day
                                                                        of the Plan
                                                                        Year).

                                                                       

                                                                      Contribution
                                                                        only used
                                                                        once.
                                                                        Any
                                                                        Qualified
                                                                        Non-Elective
                                                                        Contribution
                                                                        or Qualified
                                                                        Matching
                                                                        Contribution
                                                                        taken
                                                                        into account
                                                                        under an
                                                                        ACP test,
                                                                        is not permitted
                                                                        to be taken
                                                                        into account
                                                                        for
                                                                        purposes
                                                                        of satisfying
                                                                        the ADP test.
                                                                        Qualified
                                                                        Matching
                                                                        Contributions
                                                                        which are
                                                                        taken into
                                                                        account for
                                                                        the ADP test
                                                                        are not taken
                                                                        into account
                                                                        for the purpose
                                                                        of satisfying
                                                                        the ACP test.
                                                                        Further,
                                                                        Qualified
                                                                        Non-Elective
                                                                        Contributions
                                                                        that
                                                                        are taken
                                                                        into account
                                                                        under a current
                                                                        year testing
                                                                        method may
                                                                        not be taken
                                                                        into
                                                                        account under
                                                                        the prior
                                                                        year testing
                                                                        method in
                                                                        the next
                                                                        year. 

                                                                       

                                                                       

                                                                    

                                                                  

                                                                

                                                              

                                                            

                                                          

                                                        

                                                        

                                                          ARTICLE 
                                                            IV

                                                          ALLOCATION
                                                            OF FUNDS 

                                                           

                                                           

                                                          
                                                            4.1  Allocation
                                                              of Employer Contributions.
                                                              Employer
                                                              Match Contributions
                                                              made pursuant to Section
                                                              3.2 of the Plan shall
                                                              be allocated
                                                              to the Employer Match
                                                              Accounts of the Participants
                                                              for whom such contributions
                                                              are made. Additional
                                                              Match Contributions
                                                              made pursuant to Section
                                                              3.3 of the
                                                              Plan shall be allocated
                                                              to the Additional Match
                                                              Accounts of the Participants
                                                              for
                                                              whom such contributions
                                                              are made.

                                                             

                                                            4.2  Allocation
                                                              of Profit Sharing Contributions.

                                                            

                                                              
                                                                	 	
                                                                        (a)

                                                                      	
                                                                        Eligibility.
                                                                          The Board
                                                                          of Directors
                                                                          or the
                                                                          Compensation
                                                                          Committee
                                                                          of the
                                                                          Board in
                                                                          its
                                                                          discretion
                                                                          may designate
                                                                          one or
                                                                          more Employees
                                                                          to receive
                                                                          a Profit
                                                                          Sharing
                                                                          Contribution
                                                                          for that
                                                                          year. 

                                                                      

                                                              

                                                               

                                                              
                                                                	 	
                                                                        (b)

                                                                      	
                                                                        Profit
                                                                          Sharing
                                                                          Contribution.
                                                                          A
                                                                          Participant
                                                                          is entitled
                                                                          to a Profit
                                                                          Sharing
                                                                          Contribution
                                                                          if the
                                                                          Participant’s name
                                                                          is included
                                                                          on the
                                                                          list of
                                                                          Participants
                                                                          at Appendix
                                                                          C
                                                                          to the
                                                                          Plan for
                                                                          the identified
                                                                          Plan Year.
                                                                          The Profit
                                                                          Sharing
                                                                          Contribution
                                                                          shall be
                                                                          equal to
                                                                          the amount
                                                                          indicated
                                                                          on Appendix
                                                                          C and shall
                                                                          be
                                                                          allocated
                                                                          to the
                                                                          Participant’s Profit
                                                                          Sharing
                                                                          Account.
                                                                          A new Appendix
                                                                          C,
                                                                          if any,
                                                                          that identifies
                                                                          the Participants
                                                                          who will
                                                                          receive
                                                                          a Profit
                                                                          Sharing
                                                                          Contribution
                                                                          for the
                                                                          applicable
                                                                          year must
                                                                          be made
                                                                          and delivered
                                                                          to the
                                                                          Trustee
                                                                          no later
                                                                          than the
                                                                          last day
                                                                          of the
                                                                          Plan Year.
                                                                          

                                                                      

                                                              

                                                               

                                                              
                                                                	 	
                                                                        (c)

                                                                      	
                                                                        Limitations.
                                                                          Further,
                                                                          if, as
                                                                          a result
                                                                          of a reasonable
                                                                          error in
                                                                          determining
                                                                          the maximum
                                                                          profit
                                                                          sharing
                                                                          contribution
                                                                          that may
                                                                          be made
                                                                          to an eligible
                                                                          Participant’s
                                                                          account
                                                                          under the
                                                                          nondiscrimination
                                                                          tests described
                                                                          in Section
                                                                          401(a)(4)
                                                                          of the
                                                                          Treasury
                                                                          Regulations,
                                                                          the excess
                                                                          contribution
                                                                          will be
                                                                          forfeited.
                                                                          

                                                                      

                                                              

                                                               

                                                              4.3  Allocation
                                                                of Net Earnings or
                                                                Losses of the Trust.
                                                                As of
                                                                each Valuation Date,
                                                                the net earnings
                                                                or losses of each
                                                                Trust, including
                                                                capital
                                                                gains and losses
                                                                whether or not realized,
                                                                since the preceding
                                                                Valuation Date
                                                                shall be allocated
                                                                to the Accrued Benefit
                                                                of all Participants
                                                                (or Beneficiaries)
                                                                in accordance with
                                                                the ratio which the
                                                                Accrued Benefit of
                                                                each Participant
                                                                bears
                                                                to the aggregate
                                                                of all such Accrued
                                                                Benefits; provided,
                                                                however, that earnings
                                                                or losses of accounts
                                                                for which Participants
                                                                direct investment
                                                                shall be
                                                                specifically allocated
                                                                to such accounts.

                                                               

                                                              4.4  Valuations. In
                                                                determining the earnings
                                                                or losses of the
                                                                Trust as of each
                                                                Valuation Date, the
                                                                Trust shall be valued
                                                                at fair market value.

                                                               

                                                              4.5  Accounting
                                                                for Distributions. All
                                                                withdrawals of Participant
                                                                contributions, all
                                                                distributions made
                                                                to a
                                                                Participant or his
                                                                Beneficiary, and
                                                                any transfers to
                                                                another qualified
                                                                plan
                                                                shall be charged
                                                                to the appropriate
                                                                subaccount of the
                                                                Participant’s Accrued
                                                                Benefit.

                                                               

                                                              4.6  Separate
                                                                Accounts.
                                                                A
                                                                separate account
                                                                shall be established
                                                                and maintained to
                                                                reflect the Accrued
                                                                Benefit for each
                                                                Participant, with
                                                                subaccounts to separately
                                                                show the divisions
                                                                described in Section
                                                                1.1 of the Plan.

                                                               

                                                              4.7  Investment
                                                                of Funds.

                                                              

                                                                
                                                                  	 	
                                                                          (a)

                                                                        	
                                                                          Investment
                                                                            Control.
                                                                            Subject
                                                                            to the
                                                                            provisions
                                                                            of paragraphs
                                                                            (b),
                                                                            (c),
                                                                            (d) and
                                                                            (e) below,
                                                                            and
                                                                            only
                                                                            to the
                                                                            extent
                                                                            accepted
                                                                            by the
                                                                            Trustees,
                                                                            the management
                                                                            and control
                                                                            of
                                                                            the Trusts
                                                                            shall
                                                                            be vested
                                                                            in the
                                                                            Trustee.

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (b)

                                                                        	
                                                                          Investment
                                                                            Limitations.
                                                                            The Trustees
                                                                            shall
                                                                            invest
                                                                            all funds
                                                                            received
                                                                            from
                                                                            the Employer
                                                                            and all
                                                                            Fund
                                                                            earnings
                                                                            in the
                                                                            Investment
                                                                            Options
                                                                            in the
                                                                            manner
                                                                            from
                                                                            time
                                                                            to time
                                                                            directed
                                                                            in writing
                                                                            by the
                                                                            Committee.
                                                                            

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (c)

                                                                        	
                                                                          Participant
                                                                            Directed
                                                                            Investments.
                                                                            Participants,
                                                                            subject
                                                                            to such
                                                                            reasonable
                                                                            restrictions
                                                                            as the
                                                                            Committee
                                                                            may
                                                                            impose
                                                                            for administrative
                                                                            convenience,
                                                                            may designate
                                                                            what
                                                                            percentage
                                                                            of
                                                                            all contributions
                                                                            and all
                                                                            accounts
                                                                            will
                                                                            be invested
                                                                            in the
                                                                            Investment
                                                                            Options.

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (d)

                                                                        	
                                                                          Participant
                                                                            Election.
                                                                            If a
                                                                            Participant
                                                                            does
                                                                            not make
                                                                            a written
                                                                            designation
                                                                            of an
                                                                            Investment
                                                                            Option,
                                                                            the Committee
                                                                            shall
                                                                            direct
                                                                            the Trustees
                                                                            to invest
                                                                            all amounts
                                                                            held
                                                                            or received
                                                                            on account
                                                                            of such
                                                                            Participant
                                                                            in the
                                                                            Investment
                                                                            Option
                                                                            designated
                                                                            by the
                                                                            Committee
                                                                            to hold
                                                                            such
                                                                            amounts.
                                                                            

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (e)

                                                                        	
                                                                          Company
                                                                            Stock.
                                                                            The Participants
                                                                            shall
                                                                            have
                                                                            the right
                                                                            to direct
                                                                            that
                                                                            any assets
                                                                            in any
                                                                            of
                                                                            their
                                                                            accounts
                                                                            that
                                                                            are invested
                                                                            in Company
                                                                            Stock
                                                                            be transferred
                                                                            to
                                                                            another
                                                                            Investment
                                                                            Option,
                                                                            in a
                                                                            manner
                                                                            satisfactory
                                                                            to the
                                                                            Committee.
                                                                            The
                                                                            Plan
                                                                            shall
                                                                            include
                                                                            Company
                                                                            Stock
                                                                            as an
                                                                            Investment
                                                                            Option
                                                                            for assets
                                                                            that
                                                                            are invested
                                                                            in Company
                                                                            Stock
                                                                            as of
                                                                            December
                                                                            31, 2006,
                                                                            however,
                                                                            once
                                                                            Company
                                                                            Stock
                                                                            in the
                                                                            Plan
                                                                            is transferred
                                                                            to another
                                                                            Investment
                                                                            Option,
                                                                            it
                                                                            cannot
                                                                            be reinvested
                                                                            in Company
                                                                            Stock.
                                                                            

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (f)

                                                                        	
                                                                          Facilitation.
                                                                            Notwithstanding
                                                                            any instruction
                                                                            from
                                                                            any Participant
                                                                            for investment
                                                                            of
                                                                            funds
                                                                            in an
                                                                            Investment
                                                                            Option
                                                                            as provided
                                                                            for herein,
                                                                            the Trustees
                                                                            shall
                                                                            have
                                                                            the right
                                                                            to hold
                                                                            uninvested
                                                                            any amounts
                                                                            intended
                                                                            for investment
                                                                            until
                                                                            such
                                                                            time
                                                                            as investment
                                                                            may be
                                                                            made
                                                                            in accordance
                                                                            with
                                                                            this
                                                                            Section
                                                                            4.7 and
                                                                            the Trust
                                                                            Agreements.

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (g)

                                                                        	
                                                                          Liability
                                                                            for Investment
                                                                            Directions.
                                                                            This
                                                                            Plan
                                                                            is intended
                                                                            to constitute
                                                                            a plan
                                                                            described
                                                                            in Section
                                                                            404(c)
                                                                            of
                                                                            ERISA,
                                                                            and Title
                                                                            29 of
                                                                            the Code
                                                                            of Federal
                                                                            Regulations
                                                                            Section
                                                                            2550.404c-1.
                                                                            Fiduciaries
                                                                            of the
                                                                            Plan
                                                                            may be
                                                                            relieved
                                                                            of liability
                                                                            for any
                                                                            losses
                                                                            which
                                                                            are the
                                                                            direct
                                                                            and necessary
                                                                            result
                                                                            of investment
                                                                            instructions
                                                                            given
                                                                            by each
                                                                            Participant
                                                                            or Beneficiary.
                                                                            Neither
                                                                            the
                                                                            Employer,
                                                                            the Trustees
                                                                            nor the
                                                                            Committee
                                                                            shall
                                                                            be responsible
                                                                            for any
                                                                            loss
                                                                            which
                                                                            may result
                                                                            from
                                                                            a Participant’s exercise
                                                                            of control
                                                                            over
                                                                            the
                                                                            investment
                                                                            of his
                                                                            Accrued
                                                                            Benefit.

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (h)

                                                                        	
                                                                          Each
                                                                            Participant
                                                                            shall
                                                                            have
                                                                            exclusive
                                                                            responsibility
                                                                            for and
                                                                            control
                                                                            over
                                                                            the
                                                                            investment
                                                                            of amounts
                                                                            allocated
                                                                            to his
                                                                            Accrued
                                                                            Benefit.
                                                                            Neither
                                                                            the
                                                                            Employers,
                                                                            the Trustees
                                                                            nor the
                                                                            Committee
                                                                            shall
                                                                            have
                                                                            any duty,
                                                                            responsibility
                                                                            or right
                                                                            to question
                                                                            a Participant’s investment
                                                                            directions
                                                                            or to
                                                                            advise
                                                                            a Participant
                                                                            with
                                                                            respect
                                                                            to the
                                                                            investment
                                                                            of his
                                                                            Individual
                                                                            Accounts.
                                                                            The Committee
                                                                            will
                                                                            be obligated
                                                                            to follow
                                                                            the
                                                                            Participant’s investment
                                                                            directions
                                                                            except
                                                                            when
                                                                            the
                                                                            instructions:

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (1)

                                                                        	
                                                                          are
                                                                            not in
                                                                            accordance
                                                                            with
                                                                            this
                                                                            Plan
                                                                            document
                                                                            and instruments
                                                                            governing
                                                                            this
                                                                            Plan
                                                                            insofar
                                                                            as such
                                                                            documents
                                                                            and instruments
                                                                            are consistent
                                                                            with
                                                                            the
                                                                            provisions
                                                                            of Title
                                                                            I of
                                                                            ERISA;

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (2)

                                                                        	
                                                                          would
                                                                            result
                                                                            in a
                                                                            prohibited
                                                                            transaction
                                                                            described
                                                                            in ERISA
                                                                            Section
                                                                            406 or
                                                                            Code
                                                                            Section
                                                                            4975
                                                                            that
                                                                            is not
                                                                            otherwise
                                                                            exempted
                                                                            by statute
                                                                            or
                                                                            regulation;

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (3)

                                                                        	
                                                                          would
                                                                            generate
                                                                            income
                                                                            that
                                                                            would
                                                                            be taxable
                                                                            to this
                                                                            Plan;

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (4)

                                                                        	
                                                                          would
                                                                            cause
                                                                            a fiduciary
                                                                            to maintain
                                                                            the indicia
                                                                            of ownership
                                                                            of any
                                                                            assets
                                                                            of
                                                                            the Plan
                                                                            outside
                                                                            the jurisdiction
                                                                            of the
                                                                            district
                                                                            courts
                                                                            of the
                                                                            United
                                                                            States
                                                                            other
                                                                            than
                                                                            as permitted
                                                                            by Section
                                                                            404(b)
                                                                            of ERISA
                                                                            and related
                                                                            regulations;

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (5)

                                                                        	
                                                                          would
                                                                            jeopardize
                                                                            the Plan’s tax
                                                                            qualified
                                                                            status
                                                                            under
                                                                            the Code;
                                                                            or

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (6)

                                                                        	
                                                                          could
                                                                            result
                                                                            in a
                                                                            loss
                                                                            in excess
                                                                            of the
                                                                            individual
                                                                            account
                                                                            balances.

                                                                        

                                                                

                                                                 

                                                                

                                                                  ARTICLE V

                                                                  MAXIMUM
                                                                    CONTRIBUTIONS
                                                                    AND BENEFITS 

                                                                  

                                                                    5.1  Defined
                                                                      Contribution
                                                                      Limitation.  
                                                                      Contributions
                                                                      made on behalf
                                                                      of any Participant
                                                                      during any
                                                                      Plan Year to
                                                                      all
                                                                      defined contribution
                                                                      plans of the
                                                                      Employer or
                                                                      any Affiliated
                                                                      Employer shall
                                                                      be
                                                                      subject to
                                                                      the limits
                                                                      of Code Section
                                                                      415(c)(1) as
                                                                      set forth in
                                                                      paragraph (a)
                                                                      below:

                                                                    
                                                                      
                                                                        	 	
                                                                                (a)

                                                                              	
                                                                                Annual
                                                                                  Addition
                                                                                  Limit.
                                                                                  The
                                                                                  Annual
                                                                                  Addition
                                                                                  (as
                                                                                  defined
                                                                                  below
                                                                                  in
                                                                                  paragraph
                                                                                  (c)),
                                                                                  that
                                                                                  may
                                                                                  be
                                                                                  contributed
                                                                                  or
                                                                                  allocated
                                                                                  to
                                                                                  a
                                                                                  Participant's
                                                                                  account
                                                                                  under
                                                                                  the
                                                                                  Plan
                                                                                  for
                                                                                  any
                                                                                  limitation
                                                                                  year
                                                                                  shall
                                                                                  not
                                                                                  exceed
                                                                                  the
                                                                                  lesser
                                                                                  of:

                                                                              

                                                                      

                                                                       

                                                                      
                                                                        	 	
                                                                                (1)

                                                                              	
                                                                                $40,000,
                                                                                  as
                                                                                  adjusted
                                                                                  for
                                                                                  increases
                                                                                  in
                                                                                  the
                                                                                  cost-of-living
                                                                                  under
                                                                                  Section
                                                                                  415(d)
                                                                                  of
                                                                                  the
                                                                                  Code,
                                                                                  or

                                                                              

                                                                      

                                                                       

                                                                      
                                                                        	 	
                                                                                (2)

                                                                              	
                                                                                100
                                                                                  percent
                                                                                  of
                                                                                  the
                                                                                  Participant’s
                                                                                  Section
                                                                                  415
                                                                                  Compensation
                                                                                  for
                                                                                  the
                                                                                  limitation
                                                                                  year.

                                                                              

                                                                      

                                                                       

                                                                      
                                                                        	 	
                                                                                (3)

                                                                              	
                                                                                The
                                                                                  Compensation
                                                                                  limit
                                                                                  referred
                                                                                  to
                                                                                  in
                                                                                  (2)
                                                                                  shall
                                                                                  not
                                                                                  apply
                                                                                  to
                                                                                  any
                                                                                  contribution
                                                                                  for
                                                                                  medical
                                                                                  benefits
                                                                                  after
                                                                                  separation
                                                                                  from
                                                                                  service
                                                                                  (within
                                                                                  the
                                                                                  meaning
                                                                                  of
                                                                                  Section
                                                                                  401(h)
                                                                                  or
                                                                                  Section
                                                                                  419A(f)(2)
                                                                                  of
                                                                                  the
                                                                                  Code)
                                                                                  which
                                                                                  is
                                                                                  otherwise
                                                                                  treated
                                                                                  as
                                                                                  an
                                                                                  Annual
                                                                                  Addition.

                                                                              

                                                                      

                                                                      

                                                                        
                                                                          	 	
                                                                                  (b)

                                                                                	
                                                                                  Correction
                                                                                    of
                                                                                    Excess
                                                                                    Annual
                                                                                    Additions.
                                                                                    If,
                                                                                    as
                                                                                    a
                                                                                    result
                                                                                    of
                                                                                    the
                                                                                    allocation
                                                                                    of
                                                                                    forfeitures,
                                                                                    a
                                                                                    reasonable
                                                                                    error
                                                                                    in
                                                                                    estimating
                                                                                    the
                                                                                    Participant’s
                                                                                    Section
                                                                                    415
                                                                                    Compensation,
                                                                                    or
                                                                                    a
                                                                                    reasonable
                                                                                    error
                                                                                    in
                                                                                    estimating
                                                                                    the
                                                                                    amount
                                                                                    of
                                                                                    Elective
                                                                                    Deferrals
                                                                                    that
                                                                                    may
                                                                                    be
                                                                                    made
                                                                                    with
                                                                                    respect
                                                                                    to
                                                                                    any
                                                                                    Participant
                                                                                    under
                                                                                    the
                                                                                    limits
                                                                                    of
                                                                                    Section
                                                                                    415
                                                                                    of
                                                                                    the
                                                                                    Code
                                                                                    or
                                                                                    under
                                                                                    other
                                                                                    facts
                                                                                    and
                                                                                    circumstances
                                                                                    permitted
                                                                                    by
                                                                                    the
                                                                                    Commissioner
                                                                                    of
                                                                                    the
                                                                                    Internal
                                                                                    Revenue
                                                                                    Service,
                                                                                    Annual
                                                                                    Additions
                                                                                    exceed
                                                                                    the
                                                                                    limitation
                                                                                    set
                                                                                    forth
                                                                                    in
                                                                                    Section
                                                                                    5.1(a),
                                                                                    the
                                                                                    excess
                                                                                    will
                                                                                    be
                                                                                    disposed
                                                                                    of
                                                                                    as
                                                                                    follows:

                                                                                

                                                                        

                                                                         

                                                                        
                                                                          	 	
                                                                                  (1)

                                                                                	
                                                                                  If
                                                                                    the
                                                                                    Participant
                                                                                    is
                                                                                    covered
                                                                                    by
                                                                                    the
                                                                                    Plan
                                                                                    as
                                                                                    of
                                                                                    the
                                                                                    end
                                                                                    of
                                                                                    the
                                                                                    Plan
                                                                                    Year
                                                                                    in
                                                                                    which
                                                                                    the
                                                                                    excess
                                                                                    occurs,
                                                                                    the
                                                                                    Excess
                                                                                    Deferrals
                                                                                    shall
                                                                                    be
                                                                                    used
                                                                                    to
                                                                                    reduce
                                                                                    Employer
                                                                                    contributions
                                                                                    (including
                                                                                    any
                                                                                    allocation
                                                                                    of
                                                                                    forfeitures)
                                                                                    for
                                                                                    such
                                                                                    Member
                                                                                    in
                                                                                    the
                                                                                    next
                                                                                    Plan
                                                                                    Year,
                                                                                    and
                                                                                    each
                                                                                    succeeding
                                                                                    Plan
                                                                                    Year,
                                                                                    if
                                                                                    necessary.

                                                                                

                                                                        

                                                                         

                                                                        
                                                                          	 	
                                                                                  (2)

                                                                                	
                                                                                  If,
                                                                                    after
                                                                                    the
                                                                                    application
                                                                                    of
                                                                                    Section
                                                                                    5.1(b)(1)
                                                                                    an
                                                                                    Excess
                                                                                    Deferral
                                                                                    amount
                                                                                    still
                                                                                    exists,
                                                                                    the
                                                                                    excess
                                                                                    amount
                                                                                    shall
                                                                                    be
                                                                                    held
                                                                                    unallocated
                                                                                    in
                                                                                    a
                                                                                    suspense
                                                                                    account.
                                                                                    The
                                                                                    suspense
                                                                                    account
                                                                                    shall
                                                                                    be
                                                                                    applied
                                                                                    to
                                                                                    reduce
                                                                                    future
                                                                                    Employer
                                                                                    contributions
                                                                                    for
                                                                                    all
                                                                                    remaining
                                                                                    Participants
                                                                                    in
                                                                                    the
                                                                                    next
                                                                                    Plan
                                                                                    year,
                                                                                    and
                                                                                    the
                                                                                    next
                                                                                    succeeding
                                                                                    Plan
                                                                                    Year.

                                                                                

                                                                        

                                                                         

                                                                        
                                                                          	 	
                                                                                  (3)

                                                                                	
                                                                                  If
                                                                                    a
                                                                                    suspense
                                                                                    account
                                                                                    is
                                                                                    in
                                                                                    existence
                                                                                    at
                                                                                    any
                                                                                    time
                                                                                    during
                                                                                    a
                                                                                    Plan
                                                                                    Year
                                                                                    pursuant
                                                                                    to
                                                                                    this
                                                                                    Section,
                                                                                    it
                                                                                    will
                                                                                    not
                                                                                    participate
                                                                                    in
                                                                                    the
                                                                                    allocation
                                                                                    of
                                                                                    the
                                                                                    gains
                                                                                    and
                                                                                    losses
                                                                                    of
                                                                                    the
                                                                                    Trusts.
                                                                                    If
                                                                                    a
                                                                                    suspense
                                                                                    account
                                                                                    is
                                                                                    in
                                                                                    existence
                                                                                    at
                                                                                    any
                                                                                    time
                                                                                    during
                                                                                    a
                                                                                    particular
                                                                                    Plan
                                                                                    Year,
                                                                                    all
                                                                                    amounts
                                                                                    in
                                                                                    the
                                                                                    suspense
                                                                                    account
                                                                                    must
                                                                                    be
                                                                                    allocated
                                                                                    and
                                                                                    reallocated
                                                                                    to
                                                                                    Participants’
accounts
                                                                                    before
                                                                                    any
                                                                                    Employer
                                                                                    or
                                                                                    Elective
                                                                                    Deferrals
                                                                                    may
                                                                                    be
                                                                                    made
                                                                                    to
                                                                                    the
                                                                                    Plan
                                                                                    for
                                                                                    that
                                                                                    Plan
                                                                                    Year.
                                                                                    Excess
                                                                                    amounts
                                                                                    may
                                                                                    not
                                                                                    be
                                                                                    distributed
                                                                                    to
                                                                                    Participants.

                                                                                

                                                                        

                                                                         

                                                                        
                                                                          	 	
                                                                                  (4)

                                                                                	
                                                                                  This
                                                                                    Section
                                                                                    5.1
                                                                                    shall
                                                                                    be
                                                                                    satisfied
                                                                                    prior
                                                                                    to
                                                                                    satisfying
                                                                                    the
                                                                                    Actual
                                                                                    Deferral
                                                                                    Percentage
                                                                                    test
                                                                                    in
                                                                                    Section
                                                                                    3.9
                                                                                    of
                                                                                    the
                                                                                    Plan.

                                                                                

                                                                        

                                                                        

                                                                          
                                                                            	 	
                                                                                    (c)

                                                                                  	
                                                                                    Annual
                                                                                      Addition.
                                                                                      Annual
                                                                                      Addition
                                                                                      means
                                                                                      the
                                                                                      sum
                                                                                      credited
                                                                                      to
                                                                                      Participant’s
                                                                                      Accounts
                                                                                      for
                                                                                      any
                                                                                      Limitation
                                                                                      Year
                                                                                      of:
                                                                                      (i)
                                                                                      Employer
                                                                                      Contributions,
                                                                                      Elective
                                                                                      Deferrals,
                                                                                      except
                                                                                      for
                                                                                      Catch-Up
                                                                                      Contributions,
                                                                                      and
                                                                                      forfeitures;
                                                                                      (ii)
                                                                                      Amounts
                                                                                      allocated
                                                                                      to
                                                                                      an
                                                                                      individual
                                                                                      medical
                                                                                      account
                                                                                      described
                                                                                      in
                                                                                      Section
                                                                                      415(l)(1)
                                                                                      of
                                                                                      the
                                                                                      Code
                                                                                      that
                                                                                      is
                                                                                      part
                                                                                      of
                                                                                      a
                                                                                      pension
                                                                                      or
                                                                                      annuity
                                                                                      plan
                                                                                      maintained
                                                                                      by
                                                                                      the
                                                                                      Employer;
                                                                                      (iii)
                                                                                      Amounts
                                                                                      attributable
                                                                                      to
                                                                                      post-retirement
                                                                                      medical
                                                                                      benefits
                                                                                      allocated
                                                                                      to
                                                                                      the
                                                                                      separate
                                                                                      account
                                                                                      of
                                                                                      a
                                                                                      key
                                                                                      employee
                                                                                      (as
                                                                                      described
                                                                                      in
                                                                                      Section
                                                                                      419A(d)(3)
                                                                                      of
                                                                                      the
                                                                                      Code);
                                                                                      and
                                                                                      (iv)
                                                                                      Excess
                                                                                      Contributions
                                                                                      and
                                                                                      Excess
                                                                                      Aggregate
                                                                                      Contributions
                                                                                      returned
                                                                                      to
                                                                                      a
                                                                                      Participant
                                                                                      in
                                                                                      accordance
                                                                                      with
                                                                                      Sections
                                                                                      3.9
                                                                                      and
                                                                                      3.10.
                                                                                      Limitation
                                                                                      Year
                                                                                      means
                                                                                      calendar
                                                                                      year,
                                                                                      unless
                                                                                      the
                                                                                      Company
                                                                                      elects
                                                                                      a
                                                                                      different
                                                                                      twelve
                                                                                      (12)
                                                                                      consecutive
                                                                                      month
                                                                                      period
                                                                                      as
                                                                                      provided
                                                                                      by
                                                                                      Treasury
                                                                                      Regulation
                                                                                      Section
                                                                                      1.415-2(b).

                                                                                  

                                                                          

                                                                           

                                                                        

                                                                        

                                                                          ARTICLE
                                                                            VI 

                                                                          ENTITLEMENT
                                                                            TO BENEFITS 

                                                                          

                                                                            6.1  Distribution
                                                                              Events. 
                                                                               Upon
                                                                              a Participant’s termination
                                                                              of
                                                                              employment
                                                                              by
                                                                              reason
                                                                              of
                                                                              retirement,
                                                                              Disability,
                                                                              or
                                                                              for
                                                                              any
                                                                              other
                                                                              reason
                                                                              (other
                                                                              than
                                                                              death),
                                                                              the
                                                                              Participant
                                                                              is
                                                                              entitled
                                                                              to
                                                                              receive
                                                                              a benefit
                                                                              funded
                                                                              by
                                                                              the
                                                                              accounts.
                                                                              A Participant
                                                                              is
                                                                              entitled
                                                                              to
                                                                              receive
                                                                              a
                                                                              benefit
                                                                              during
                                                                              employment
                                                                              for
                                                                              Disability,
                                                                              Hardship
                                                                              or
                                                                              the
                                                                              attainment
                                                                              of
                                                                              age
                                                                              591⁄2.

                                                                             

                                                                            6.2  Disability.  
                                                                              In
                                                                              the
                                                                              event
                                                                              that
                                                                              a Participant,
                                                                              at
                                                                              any
                                                                              time
                                                                              prior
                                                                              to
                                                                              his
                                                                              retirement
                                                                              or
                                                                              other
                                                                              termination
                                                                              of
                                                                              employment
                                                                              with
                                                                              the
                                                                              Employer,
                                                                              shall
                                                                              become
                                                                              totally
                                                                              and
                                                                              permanently
                                                                              disabled,
                                                                              and
                                                                              if
                                                                              proof
                                                                              of
                                                                              such
                                                                              disability
                                                                              satisfactory
                                                                              to
                                                                              the
                                                                              Employer
                                                                              is
                                                                              furnished
                                                                              (which
                                                                              proof
                                                                              shall
                                                                              include
                                                                              a determination
                                                                              of
                                                                              approval
                                                                              for
                                                                              Social
                                                                              Security
                                                                              benefits
                                                                              or,
                                                                              if
                                                                              such
                                                                              is
                                                                              not
                                                                              available,
                                                                              a written
                                                                              statement
                                                                              of
                                                                              a
                                                                              licensed
                                                                              physician
                                                                              appointed
                                                                              or
                                                                              approved
                                                                              by
                                                                              the
                                                                              Employer),
                                                                              then
                                                                              such
                                                                              Participant
                                                                              shall
                                                                              be
                                                                              entitled
                                                                              to
                                                                              the
                                                                              full
                                                                              value
                                                                              of
                                                                              his
                                                                              Accrued
                                                                              Benefit
                                                                              which
                                                                              shall
                                                                              be
                                                                              one
                                                                              hundred
                                                                              percent
                                                                              (100%)
                                                                              vested
                                                                              and
                                                                              nonforfeitable.
                                                                              For
                                                                              purposes
                                                                              of
                                                                              this
                                                                              Section
                                                                              6.2,
                                                                              total
                                                                              and
                                                                              permanent
                                                                              disability
                                                                              shall
                                                                              mean
                                                                              the
                                                                              inability
                                                                              to
                                                                              engage
                                                                              in
                                                                              any
                                                                              substantial
                                                                              gainful
                                                                              activity
                                                                              by
                                                                              reason
                                                                              of
                                                                              any
                                                                              medically
                                                                              determinable
                                                                              physical
                                                                              or
                                                                              mental
                                                                              impairment
                                                                              that
                                                                              can
                                                                              be
                                                                              expected
                                                                              to
                                                                              result
                                                                              in
                                                                              death
                                                                              or
                                                                              to
                                                                              last
                                                                              for
                                                                              a
                                                                              continuous
                                                                              period
                                                                              of
                                                                              at
                                                                              least
                                                                              twelve
                                                                              (12)
                                                                              months.
                                                                              The
                                                                              distribution
                                                                              will
                                                                              be
                                                                              made
                                                                              in
                                                                              cash
                                                                              unless
                                                                              the
                                                                              Participant
                                                                              elects
                                                                              to
                                                                              receive
                                                                              the
                                                                              value
                                                                              of
                                                                              his
                                                                              ESOP,
                                                                              PAYSOP,
                                                                              and
                                                                              Stock
                                                                              Bonus
                                                                              account
                                                                              balances,
                                                                              and
                                                                              any
                                                                              other
                                                                              amount
                                                                              invested
                                                                              in
                                                                              Company
                                                                              Stock,
                                                                              in
                                                                              the
                                                                              form
                                                                              of
                                                                              Company
                                                                              Stock.

                                                                             

                                                                            6.3  Death.  
                                                                              In
                                                                              the
                                                                              event
                                                                              of
                                                                              the
                                                                              death
                                                                              of
                                                                              a Participant
                                                                              prior
                                                                              to
                                                                              his
                                                                              retirement,
                                                                              disability,
                                                                              or
                                                                              termination
                                                                              of
                                                                              employment
                                                                              with
                                                                              the
                                                                              Employer,
                                                                              the
                                                                              full
                                                                              value
                                                                              of
                                                                              his
                                                                              Accrued
                                                                              Benefit,
                                                                              which
                                                                              shall
                                                                              be
                                                                              one
                                                                              hundred
                                                                              percent
                                                                              (100%)
                                                                              vested
                                                                              and
                                                                              nonforfeitable
                                                                              shall
                                                                              become
                                                                              payable
                                                                              (according
                                                                              to
                                                                              the
                                                                              provisions
                                                                              of
                                                                              Article
                                                                              VII
                                                                              of
                                                                              the
                                                                              Plan),
                                                                              to
                                                                              his
                                                                              designated
                                                                              Beneficiary,
                                                                              upon
                                                                              submission
                                                                              of
                                                                              proof
                                                                              of
                                                                              death
                                                                              satisfactory
                                                                              to
                                                                              the
                                                                              Employer.

                                                                             

                                                                            6.4  Other
                                                                              Permitted
                                                                              Distributions.

                                                                             

                                                                            
                                                                              
                                                                                	 	
                                                                                        (a)

                                                                                      	
                                                                                        Hardship.
                                                                                          By
                                                                                          filing
                                                                                          the
                                                                                          required
                                                                                          form,
                                                                                          a
                                                                                          Participant
                                                                                          may
                                                                                          withdraw
                                                                                          on
                                                                                          account
                                                                                          of
                                                                                          hardship
                                                                                          all
                                                                                          or
                                                                                          a
                                                                                          portion
                                                                                          of
                                                                                          his
                                                                                          vested
                                                                                          Accrued
                                                                                          Benefit
                                                                                          except
                                                                                          for:
                                                                                          (1)
                                                                                          earnings
                                                                                          allocated
                                                                                          after
                                                                                          December
                                                                                          31,
                                                                                          1988
                                                                                          on
                                                                                          Elective
                                                                                          Deferrals,
                                                                                          Frozen
                                                                                          Pre-Tax
                                                                                          Account
                                                                                          and
                                                                                          any
“Employer
                                                                                          Contribution
                                                                                          Account”
in
                                                                                          a
                                                                                          Frozen
                                                                                          Other
                                                                                          Contribution
                                                                                          Account;
                                                                                          (2)
                                                                                          any
                                                                                          portion
                                                                                          of
                                                                                          his
                                                                                          Accrued
                                                                                          Benefit
                                                                                          held
                                                                                          in
                                                                                          his
                                                                                          Qualified
                                                                                          Non-Elective
                                                                                          Contribution
                                                                                          Account
                                                                                          and
                                                                                          Qualified
                                                                                          Matching
                                                                                          Contribution
                                                                                          Account;
                                                                                          (3)
                                                                                          any
                                                                                          portion
                                                                                          of
                                                                                          his
                                                                                          Accrued
                                                                                          Benefit
                                                                                          held
                                                                                          in
                                                                                          his
                                                                                          ESOP
                                                                                          Account,
                                                                                          PAYSOP
                                                                                          Account,
                                                                                          and
                                                                                          Stock
                                                                                          Bonus
                                                                                          Account
                                                                                          and
                                                                                          (4)
                                                                                          any
                                                                                          assets
                                                                                          held
                                                                                          in
                                                                                          Company
                                                                                          Stock.
                                                                                          The
                                                                                          amount
                                                                                          distributed
                                                                                          will
                                                                                          be
                                                                                          withdrawn
                                                                                          pro
                                                                                          rata
                                                                                          across
                                                                                          eligible
                                                                                          money
                                                                                          types.

                                                                                      

                                                                              

                                                                              

                                                                                
                                                                                  	 	
                                                                                          (1)

                                                                                        	
                                                                                          Hardship
                                                                                            withdrawals
                                                                                            are
                                                                                            permitted
                                                                                            only
                                                                                            for
                                                                                            one
                                                                                            of
                                                                                            the
                                                                                            following
                                                                                            immediate
                                                                                            and
                                                                                            heavy
                                                                                            financial
                                                                                            needs:

                                                                                        

                                                                                

                                                                                 

                                                                                
                                                                                  	 	
                                                                                          (i)

                                                                                        	
                                                                                          medical
                                                                                            expenses
                                                                                            described
                                                                                            in
                                                                                            Section
                                                                                            213(d)
                                                                                            of
                                                                                            the
                                                                                            Code
                                                                                            incurred
                                                                                            by
                                                                                            the
                                                                                            Employee,
                                                                                            the
                                                                                            Employee’s
                                                                                            spouse,
                                                                                            or
                                                                                            any
                                                                                            dependent
                                                                                            of
                                                                                            the
                                                                                            Employee;
                                                                                            or

                                                                                        

                                                                                

                                                                                 

                                                                                
                                                                                  	 	
                                                                                          (ii)

                                                                                        	
                                                                                          purchase
                                                                                            (excluding
                                                                                            mortgage
                                                                                            payments)
                                                                                            of
                                                                                            a
                                                                                            principal
                                                                                            place
                                                                                            of
                                                                                            residence
                                                                                            of
                                                                                            the
                                                                                            Employee;
                                                                                            or

                                                                                        

                                                                                

                                                                                 

                                                                                
                                                                                  	 	
                                                                                          (iii)

                                                                                        	
                                                                                          payment
                                                                                            of
                                                                                            tuition,
                                                                                            related
                                                                                            educational
                                                                                            fees,
                                                                                            and
                                                                                            room
                                                                                            and
                                                                                            board
                                                                                            expenses,
                                                                                            for
                                                                                            the
                                                                                            next
                                                                                            twelve
                                                                                            months
                                                                                            of
                                                                                            post
                                                                                            secondary
                                                                                            education
                                                                                            for
                                                                                            the
                                                                                            Employee,
                                                                                            his
                                                                                            or
                                                                                            her
                                                                                            spouse,
                                                                                            children,
                                                                                            or
                                                                                            dependents
                                                                                            (as
                                                                                            defined
                                                                                            in
                                                                                            Code
                                                                                            Section
                                                                                            152
                                                                                            without
                                                                                            regard
                                                                                            to
                                                                                            Section
                                                                                            152(b)(1),
                                                                                            (b)(2)
                                                                                            and
                                                                                            (d)(1)(B));
                                                                                            or

                                                                                        

                                                                                

                                                                                 

                                                                                
                                                                                  	 	
                                                                                          (iv)

                                                                                        	
                                                                                          the
                                                                                            need
                                                                                            to
                                                                                            prevent
                                                                                            the
                                                                                            eviction
                                                                                            of
                                                                                            the
                                                                                            Employee
                                                                                            from
                                                                                            his
                                                                                            or
                                                                                            her
                                                                                            principal
                                                                                            residence
                                                                                            or
                                                                                            foreclosure
                                                                                            on
                                                                                            the
                                                                                            mortgage
                                                                                            of
                                                                                            the
                                                                                            Employee’s
                                                                                            principal
                                                                                            residence;
                                                                                            or

                                                                                        

                                                                                

                                                                                 

                                                                                
                                                                                  	 	
                                                                                          (v)

                                                                                        	
                                                                                          payments
                                                                                            for
                                                                                            burial
                                                                                            or
                                                                                            funeral
                                                                                            expenses
                                                                                            for
                                                                                            the
                                                                                            employee’s
                                                                                            deceased
                                                                                            parent,
                                                                                            spouse,
                                                                                            children
                                                                                            or
                                                                                            dependents
                                                                                            (as
                                                                                            defined
                                                                                            in
                                                                                            Code
                                                                                            Section
                                                                                            152(b)
                                                                                            without
                                                                                            regard
                                                                                            to
                                                                                            Section
                                                                                            152(d)(1)(B));
                                                                                            or

                                                                                        

                                                                                

                                                                                 

                                                                                
                                                                                  	 	
                                                                                          (vi)

                                                                                        	
                                                                                          expense
                                                                                            for
                                                                                            repair
                                                                                            of
                                                                                            damage
                                                                                            to
                                                                                            the
                                                                                            employee’s
                                                                                            principal
                                                                                            residence
                                                                                            that
                                                                                            would
                                                                                            qualify
                                                                                            for
                                                                                            a
                                                                                            casualty
                                                                                            deduction
                                                                                            on
                                                                                            the
                                                                                            employee’s
                                                                                            tax
                                                                                            return
                                                                                            (without
                                                                                            regard
                                                                                            to
                                                                                            whether
                                                                                            the
                                                                                            loan
                                                                                            exceeds
                                                                                            10%
                                                                                            of
                                                                                            adjusted
                                                                                            gross
                                                                                            income).

                                                                                        

                                                                                

                                                                                 

                                                                                
                                                                                  Provided
                                                                                    however,
                                                                                    if
                                                                                    the
                                                                                    Commissioner
                                                                                    of
                                                                                    Internal
                                                                                    Revenue
                                                                                    expands
                                                                                    the
                                                                                    list
                                                                                    of
                                                                                    deemed,
                                                                                    immediate
                                                                                    and
                                                                                    heavy
                                                                                    financial
                                                                                    needs
                                                                                    as
                                                                                    provided
                                                                                    above
                                                                                    through
                                                                                    publication
                                                                                    of
                                                                                    revenue
                                                                                    rulings,
                                                                                    notices
                                                                                    or
                                                                                    other
                                                                                    documents
                                                                                    of
                                                                                    general
                                                                                    applicability,
                                                                                    then
                                                                                    such
                                                                                    deemed
                                                                                    immediate
                                                                                    and
                                                                                    heavy
                                                                                    financial
                                                                                    needs
                                                                                    may
                                                                                    be
                                                                                    included
                                                                                    at
                                                                                    the
                                                                                    direction
                                                                                    of
                                                                                    the
                                                                                    Committee
                                                                                    in
                                                                                    the
                                                                                    list
                                                                                    of
                                                                                    needs
                                                                                    for
                                                                                    which
                                                                                    hardship
                                                                                    withdrawals
                                                                                    may
                                                                                    be
                                                                                    made.

                                                                                  

                                                                                    
                                                                                      	 	
                                                                                              (2)

                                                                                            	
                                                                                              In
                                                                                                order
                                                                                                to
                                                                                                obtain
                                                                                                a
                                                                                                hardship
                                                                                                withdrawal,
                                                                                                a
                                                                                                Participant
                                                                                                must
                                                                                                satisfy
                                                                                                the
                                                                                                following
                                                                                                requirements
                                                                                                which
                                                                                                are
                                                                                                deemed
                                                                                                to
                                                                                                be
                                                                                                necessary
                                                                                                to
                                                                                                satisfy
                                                                                                an
                                                                                                immediate
                                                                                                and
                                                                                                heavy
                                                                                                financial
                                                                                                need:

                                                                                            

                                                                                    

                                                                                    

                                                                                      
                                                                                        	 	
                                                                                                (i)

                                                                                              	
                                                                                                The
                                                                                                  distribution
                                                                                                  must
                                                                                                  not
                                                                                                  be
                                                                                                  in
                                                                                                  excess
                                                                                                  of
                                                                                                  the
                                                                                                  amount
                                                                                                  of
                                                                                                  the
                                                                                                  immediate
                                                                                                  and
                                                                                                  heavy
                                                                                                  financial
                                                                                                  need
                                                                                                  of
                                                                                                  the
                                                                                                  Participant;

                                                                                              

                                                                                      

                                                                                       

                                                                                      
                                                                                        	 	
                                                                                                (ii)

                                                                                              	
                                                                                                The
                                                                                                  Participant
                                                                                                  must
                                                                                                  have
                                                                                                  obtained
                                                                                                  all
                                                                                                  currently
                                                                                                  available
                                                                                                  distributions,
                                                                                                  all
                                                                                                  nontaxable
                                                                                                  loans
                                                                                                  currently
                                                                                                  available
                                                                                                  under
                                                                                                  all
                                                                                                  Plans
                                                                                                  maintained
                                                                                                  by
                                                                                                  the
                                                                                                  Employer
                                                                                                  (unless
                                                                                                  such
                                                                                                  loan
                                                                                                  would
                                                                                                  disqualify
                                                                                                  the
                                                                                                  Participant
                                                                                                  from
                                                                                                  obtaining
                                                                                                  other
                                                                                                  necessary
                                                                                                  financing);
                                                                                                  and

                                                                                              

                                                                                      

                                                                                       

                                                                                      
                                                                                        	 	
                                                                                                (iii)

                                                                                              	
                                                                                                The
                                                                                                  financial
                                                                                                  need
                                                                                                  can
                                                                                                  not
                                                                                                  be
                                                                                                  relieved
                                                                                                  from
                                                                                                  other
                                                                                                  resources;
                                                                                                  the
                                                                                                  Participant’s
                                                                                                  resources
                                                                                                  are
                                                                                                  deemed
                                                                                                  to
                                                                                                  include
                                                                                                  those
                                                                                                  assets
                                                                                                  of
                                                                                                  the
                                                                                                  Participant’s
                                                                                                  spouse
                                                                                                  and
                                                                                                  minor
                                                                                                  children
                                                                                                  that
                                                                                                  are
                                                                                                  reasonably
                                                                                                  available
                                                                                                  to
                                                                                                  the
                                                                                                  Participant,
                                                                                                  such
                                                                                                  as
                                                                                                  a
                                                                                                  vacation
                                                                                                  home.

                                                                                              

                                                                                      

                                                                                       

                                                                                      
                                                                                        	 	
                                                                                                (3)

                                                                                              	
                                                                                                The
                                                                                                  Committee
                                                                                                  may
                                                                                                  rely
                                                                                                  upon
                                                                                                  the
                                                                                                  Participant’s
                                                                                                  representation
                                                                                                  (made
                                                                                                  in
                                                                                                  writing
                                                                                                  or
                                                                                                  such
                                                                                                  other
                                                                                                  form
                                                                                                  as
                                                                                                  may
                                                                                                  be
                                                                                                  prescribed
                                                                                                  by
                                                                                                  the
                                                                                                  Commissioner
                                                                                                  of
                                                                                                  the
                                                                                                  Internal
                                                                                                  Revenue
                                                                                                  Service)
                                                                                                  that
                                                                                                  the
                                                                                                  Participant
                                                                                                  can
                                                                                                  not
                                                                                                  relieve
                                                                                                  the
                                                                                                  immediate
                                                                                                  and
                                                                                                  heavy
                                                                                                  financial
                                                                                                  need
                                                                                                  from
                                                                                                  other
                                                                                                  resources
                                                                                                  that
                                                                                                  are
                                                                                                  available
                                                                                                  to
                                                                                                  the
                                                                                                  Participant,
                                                                                                  unless
                                                                                                  the
                                                                                                  Committee
                                                                                                  has
                                                                                                  actual
                                                                                                  knowledge
                                                                                                  to
                                                                                                  the
                                                                                                  contrary,
                                                                                                  that
                                                                                                  the
                                                                                                  need
                                                                                                  cannot
                                                                                                  reasonably
                                                                                                  be
                                                                                                  relieved—

                                                                                              

                                                                                      

                                                                                       

                                                                                      
                                                                                        	 	
                                                                                                (i)

                                                                                              	
                                                                                                Through
                                                                                                  reimbursement
                                                                                                  or
                                                                                                  compensation
                                                                                                  by
                                                                                                  insurance
                                                                                                  or
                                                                                                  otherwise;

                                                                                              

                                                                                      

                                                                                       

                                                                                      
                                                                                        	 	
                                                                                                (ii)

                                                                                              	
                                                                                                By
                                                                                                  liquidation
                                                                                                  of
                                                                                                  the
                                                                                                  Participant’s
                                                                                                  assets;

                                                                                              

                                                                                      

                                                                                       

                                                                                      
                                                                                        	 	
                                                                                                (iii)

                                                                                              	
                                                                                                By
                                                                                                  cessation
                                                                                                  of
                                                                                                  elective
                                                                                                  contributions
                                                                                                  or
                                                                                                  employee
                                                                                                  contributions
                                                                                                  under
                                                                                                  the
                                                                                                  Plan;

                                                                                              

                                                                                      

                                                                                       

                                                                                      
                                                                                        	 	
                                                                                                (iv)

                                                                                              	
                                                                                                By
                                                                                                  other
                                                                                                  currently
                                                                                                  available
                                                                                                  distributions
                                                                                                  and
                                                                                                  nontaxable
                                                                                                  loans,
                                                                                                  under
                                                                                                  plans
                                                                                                  maintained
                                                                                                  by
                                                                                                  the
                                                                                                  Employer
                                                                                                  or
                                                                                                  by
                                                                                                  any
                                                                                                  other
                                                                                                  employer;
                                                                                                  or

                                                                                              

                                                                                      

                                                                                       

                                                                                      
                                                                                        	 	
                                                                                                (v)

                                                                                              	
                                                                                                By
                                                                                                  borrowing
                                                                                                  from
                                                                                                  commercial
                                                                                                  sources
                                                                                                  on
                                                                                                  reasonable
                                                                                                  commercial
                                                                                                  terms
                                                                                                  in
                                                                                                  an
                                                                                                  amount
                                                                                                  sufficient
                                                                                                  to
                                                                                                  satisfy
                                                                                                  the
                                                                                                  need.

                                                                                              

                                                                                      

                                                                                       

                                                                                      A
                                                                                        Participant
                                                                                        who
                                                                                        receives
                                                                                        a
                                                                                        distribution
                                                                                        on
                                                                                        account
                                                                                        of
                                                                                        hardship
                                                                                        shall
                                                                                        be
                                                                                        prohibited
                                                                                        from
                                                                                        making
                                                                                        Elective
                                                                                        Deferrals
                                                                                        and
                                                                                        employee
                                                                                        contributions
                                                                                        under
                                                                                        this
                                                                                        and
                                                                                        all
                                                                                        other
                                                                                        plans
                                                                                        of
                                                                                        the
                                                                                        Employer
                                                                                        for
                                                                                        six
                                                                                        (6)
                                                                                        months
                                                                                        after
                                                                                        receipt
                                                                                        of
                                                                                        the
                                                                                        distribution.

                                                                                      

                                                                                        
                                                                                          	 	
                                                                                                  (4)

                                                                                                	
                                                                                                  There
                                                                                                    is
                                                                                                    no
                                                                                                    minimum
                                                                                                    amount
                                                                                                    for
                                                                                                    a
                                                                                                    hardship
                                                                                                    withdrawal,
                                                                                                    and
                                                                                                    there
                                                                                                    is
                                                                                                    no
                                                                                                    restriction
                                                                                                    on
                                                                                                    the
                                                                                                    number
                                                                                                    of
                                                                                                    hardship
                                                                                                    withdrawals
                                                                                                    permitted
                                                                                                    to
                                                                                                    a
                                                                                                    Participant.

                                                                                                

                                                                                        

                                                                                         

                                                                                        
                                                                                          	 	
                                                                                                  (b)

                                                                                                	
                                                                                                  Attainment
                                                                                                    of
                                                                                                    Age
                                                                                                    591⁄2.
                                                                                                    On
                                                                                                    or
                                                                                                    after
                                                                                                    the
                                                                                                    attainment
                                                                                                    of
                                                                                                    age
                                                                                                    591⁄2,
                                                                                                    a
                                                                                                    Participant
                                                                                                    shall
                                                                                                    be
                                                                                                    permitted
                                                                                                    to
                                                                                                    withdraw
                                                                                                    all
                                                                                                    or
                                                                                                    a
                                                                                                    portion
                                                                                                    of
                                                                                                    his
                                                                                                    vested
                                                                                                    Accrued
                                                                                                    Benefit
                                                                                                    under
                                                                                                    the
                                                                                                    Plan
                                                                                                    at
                                                                                                    any
                                                                                                    time.
                                                                                                    The
                                                                                                    distribution
                                                                                                    will
                                                                                                    be
                                                                                                    made
                                                                                                    in
                                                                                                    cash
                                                                                                    unless
                                                                                                    the
                                                                                                    participant
                                                                                                    elects
                                                                                                    to
                                                                                                    receive
                                                                                                    the
                                                                                                    value
                                                                                                    of
                                                                                                    his
                                                                                                    ESOP,
                                                                                                    PAYSOP,
                                                                                                    and
                                                                                                    Stock
                                                                                                    Bonus
                                                                                                    account
                                                                                                    balances,
                                                                                                    and
                                                                                                    any
                                                                                                    other
                                                                                                    amount
                                                                                                    invested
                                                                                                    in
                                                                                                    Company
                                                                                                    Stock,
                                                                                                    in
                                                                                                    the
                                                                                                    form
                                                                                                    of
                                                                                                    Company
                                                                                                    Stock.

                                                                                                

                                                                                        

                                                                                         

                                                                                        
                                                                                          	 	
                                                                                                  (c)

                                                                                                	
                                                                                                  Rollover
                                                                                                    Account.
                                                                                                    A
                                                                                                    Participant
                                                                                                    may
                                                                                                    withdraw
                                                                                                    any
                                                                                                    amount
                                                                                                    from
                                                                                                    his
                                                                                                    Rollover
                                                                                                    Account
                                                                                                    at
                                                                                                    such
                                                                                                    times
                                                                                                    as
                                                                                                    permitted
                                                                                                    by
                                                                                                    the
                                                                                                    Committee
                                                                                                    by
                                                                                                    submitting
                                                                                                    a
                                                                                                    written
                                                                                                    request
                                                                                                    to
                                                                                                    the
                                                                                                    Committee
                                                                                                    specifying
                                                                                                    the
                                                                                                    amount
                                                                                                    to
                                                                                                    be
                                                                                                    withdrawn.

                                                                                                

                                                                                        

                                                                                         

                                                                                        
                                                                                          	 	
                                                                                                  (d)

                                                                                                	
                                                                                                  Voluntary
                                                                                                    After-Tax
                                                                                                    and
                                                                                                    Frozen
                                                                                                    After-Tax
                                                                                                    Accounts.
                                                                                                    A
                                                                                                    Participant
                                                                                                    may
                                                                                                    withdraw
                                                                                                    any
                                                                                                    amount
                                                                                                    from
                                                                                                    his
                                                                                                    Voluntary
                                                                                                    After-Tax
                                                                                                    Account
                                                                                                    and
                                                                                                    Frozen
                                                                                                    After-Tax
                                                                                                    Account
                                                                                                    at
                                                                                                    such
                                                                                                    times
                                                                                                    as
                                                                                                    permitted
                                                                                                    by
                                                                                                    the
                                                                                                    Committee
                                                                                                    by
                                                                                                    submitting
                                                                                                    a
                                                                                                    request
                                                                                                    to
                                                                                                    the
                                                                                                    Committee
                                                                                                    specifying
                                                                                                    the
                                                                                                    amount
                                                                                                    to
                                                                                                    be
                                                                                                    withdrawn.
                                                                                                    A
                                                                                                    distribution
                                                                                                    from
                                                                                                    either
                                                                                                    such
                                                                                                    account
                                                                                                    shall
                                                                                                    be
                                                                                                    calculated
                                                                                                    on
                                                                                                    a
                                                                                                    pro-rata
                                                                                                    basis;
                                                                                                    thus,
                                                                                                    such
                                                                                                    distribution
                                                                                                    shall
                                                                                                    be
                                                                                                    considered
                                                                                                    in
                                                                                                    part
                                                                                                    a
                                                                                                    return
                                                                                                    of
                                                                                                    contributions
                                                                                                    and
                                                                                                    in
                                                                                                    part
                                                                                                    earnings
                                                                                                    on
                                                                                                    such
                                                                                                    contributions.
                                                                                                    However,
                                                                                                    if
                                                                                                    on
                                                                                                    May
                                                                                                    5,
                                                                                                    1986,
                                                                                                    Voluntary
                                                                                                    After-Tax
                                                                                                    Accounts
                                                                                                    and/or
                                                                                                    Frozen
                                                                                                    After-Tax
                                                                                                    Accounts
                                                                                                    were
                                                                                                    available
                                                                                                    for
                                                                                                    distribution
                                                                                                    under
                                                                                                    the
                                                                                                    terms
                                                                                                    of
                                                                                                    the
                                                                                                    Plan,
                                                                                                    the
                                                                                                    Frozen
                                                                                                    Plan,
                                                                                                    a
                                                                                                    Predecessor
                                                                                                    Plan,
                                                                                                    or
                                                                                                    a
                                                                                                    Frozen
                                                                                                    Predecessor
                                                                                                    Plan,
                                                                                                    prior
                                                                                                    to
                                                                                                    separation
                                                                                                    of
                                                                                                    service,
                                                                                                    then
                                                                                                    the
                                                                                                    pro-rata
                                                                                                    rules
                                                                                                    will
                                                                                                    not
                                                                                                    apply
                                                                                                    to
                                                                                                    after-tax
                                                                                                    contributions
                                                                                                    made
                                                                                                    to
                                                                                                    such
                                                                                                    accounts
                                                                                                    prior
                                                                                                    to
                                                                                                    January
                                                                                                    1,
                                                                                                    1987.
                                                                                                    The
                                                                                                    Participant
                                                                                                    may
                                                                                                    designate
                                                                                                    whether
                                                                                                    the
                                                                                                    distribution
                                                                                                    is
                                                                                                    to
                                                                                                    be
                                                                                                    made
                                                                                                    from
                                                                                                    pre-1987
                                                                                                    or
                                                                                                    post-1986
                                                                                                    contributions.

                                                                                                

                                                                                        

                                                                                         

                                                                                         

                                                                                        

                                                                                          ARTICLE VII  

                                                                                          DISTRIBUTION
                                                                                            OF
                                                                                            BENEFITS 

                                                                                          

                                                                                            
                                                                                              	 	
                                                                                                      7.1

                                                                                                    	
                                                                                                      General.
                                                                                                        The
                                                                                                        requirements
                                                                                                        of
                                                                                                        this
                                                                                                        Article
                                                                                                        shall
                                                                                                        apply
                                                                                                        to
                                                                                                        any
                                                                                                        distribution
                                                                                                        of
                                                                                                        a
                                                                                                        Participant’s
                                                                                                        interest
                                                                                                        and
                                                                                                        will
                                                                                                        take
                                                                                                        precedence
                                                                                                        over
                                                                                                        any
                                                                                                        inconsistent
                                                                                                        provisions
                                                                                                        of
                                                                                                        this
                                                                                                        Plan.
                                                                                                        All
                                                                                                        distributions
                                                                                                        required
                                                                                                        under
                                                                                                        this
                                                                                                        Article
                                                                                                        shall
                                                                                                        be
                                                                                                        determined
                                                                                                        and
                                                                                                        made
                                                                                                        in
                                                                                                        accordance
                                                                                                        with
                                                                                                        the
                                                                                                        Treasury
                                                                                                        Regulations
                                                                                                        under
                                                                                                        Code
                                                                                                        Section
                                                                                                        401(a)(9).

                                                                                                    

                                                                                            

                                                                                             

                                                                                            
                                                                                              	 	
                                                                                                      7.2

                                                                                                    	
                                                                                                      Method
                                                                                                        of
                                                                                                        Distribution.
                                                                                                        A
                                                                                                        Participant
                                                                                                        may
                                                                                                        elect
                                                                                                        to
                                                                                                        have
                                                                                                        his
                                                                                                        Accrued
                                                                                                        Benefit
                                                                                                        distributed
                                                                                                        in
                                                                                                        the
                                                                                                        following
                                                                                                        manner:

                                                                                                    

                                                                                            

                                                                                            

                                                                                              
                                                                                                	 	
                                                                                                        (a)

                                                                                                      	
                                                                                                        a
                                                                                                          single
                                                                                                          lump
                                                                                                          sum;

                                                                                                      

                                                                                              

                                                                                               

                                                                                              
                                                                                                	 	
                                                                                                        (b)

                                                                                                      	
                                                                                                        a
                                                                                                          portion
                                                                                                          paid
                                                                                                          in
                                                                                                          a
                                                                                                          lump
                                                                                                          sum,
                                                                                                          and
                                                                                                          the
                                                                                                          remainder
                                                                                                          paid
                                                                                                          later
                                                                                                          (partial
                                                                                                          payment);
                                                                                                          or

                                                                                                      

                                                                                              

                                                                                               

                                                                                              
                                                                                                	 	
                                                                                                        (c)

                                                                                                      	
                                                                                                        periodic
                                                                                                          installments
                                                                                                          over
                                                                                                          a
                                                                                                          period
                                                                                                          not
                                                                                                          to
                                                                                                          exceed
                                                                                                          fifteen
                                                                                                          (15)
                                                                                                          years.

                                                                                                      

                                                                                              

                                                                                               

                                                                                              In
                                                                                                the
                                                                                                absence
                                                                                                of
                                                                                                an
                                                                                                election
                                                                                                by
                                                                                                the
                                                                                                Participant,
                                                                                                distribution
                                                                                                will
                                                                                                be
                                                                                                made
                                                                                                in
                                                                                                a
                                                                                                lump
                                                                                                sum
                                                                                                payment
                                                                                                in
                                                                                                cash.
                                                                                                See
                                                                                                Article
                                                                                                X
                                                                                                for
                                                                                                special
                                                                                                rules
                                                                                                relating
                                                                                                to
                                                                                                ESOP
                                                                                                Accounts.

                                                                                            

                                                                                          

                                                                                          

                                                                                            7.3     Installment
                                                                                              Payments.  
                                                                                               If
                                                                                              all
                                                                                              or
                                                                                              any
                                                                                              portion
                                                                                              of
                                                                                              a
                                                                                              Participant’s
                                                                                              Accrued
                                                                                              Benefit
                                                                                              is
                                                                                              to
                                                                                              be
                                                                                              paid
                                                                                              in
                                                                                              installments,
                                                                                              the
                                                                                              Participant
                                                                                              shall
                                                                                              determine
                                                                                              the
                                                                                              period
                                                                                              over
                                                                                              which
                                                                                              such
                                                                                              installments
                                                                                              shall
                                                                                              be
                                                                                              paid.
                                                                                              The
                                                                                              total
                                                                                              amount
                                                                                              to
                                                                                              be
                                                                                              so
                                                                                              distributed
                                                                                              shall
                                                                                              continue
                                                                                              to
                                                                                              be
                                                                                              invested
                                                                                              in
                                                                                              those
                                                                                              assets
                                                                                              currently
                                                                                              retained
                                                                                              in
                                                                                              the
                                                                                              Trust,
                                                                                              and
                                                                                              any
                                                                                              income,
                                                                                              gain
                                                                                              or
                                                                                              loss
                                                                                              attributable
                                                                                              thereto
                                                                                              (but
                                                                                              not
                                                                                              Employer
                                                                                              contributions
                                                                                              or
                                                                                              forfeitures)
                                                                                              shall
                                                                                              be
                                                                                              reflected
                                                                                              in
                                                                                              the
                                                                                              installment
                                                                                              distributions.

                                                                                             

                                                                                          

                                                                                        

                                                                                      

                                                                                    

                                                                                  

                                                                                

                                                                              

                                                                            

                                                                          

                                                                          
                                                                            
                                                                              	 	
                                                                                      7.4

                                                                                    	
                                                                                      Commencement
                                                                                        of
                                                                                        Benefits.

                                                                                    

                                                                            

                                                                          

                                                                        

                                                                      

                                                                    

                                                                     

                                                                  

                                                                  
                                                                    
                                                                      	 	
                                                                              (a)

                                                                            	
                                                                              Unless
                                                                                the
                                                                                Participant
                                                                                elects
                                                                                otherwise,
                                                                                distribution
                                                                                of
                                                                                benefits
                                                                                will
                                                                                begin
                                                                                no
                                                                                later
                                                                                than
                                                                                the
                                                                                60th
                                                                                day
                                                                                after
                                                                                the
                                                                                latest
                                                                                of
                                                                                the
                                                                                close
                                                                                of
                                                                                the
                                                                                Plan
                                                                                Year
                                                                                in
                                                                                which:

                                                                            

                                                                    

                                                                    

                                                                      
                                                                        	 	
                                                                                (1)

                                                                              	
                                                                                the
                                                                                  Participant
                                                                                  attains
                                                                                  age
                                                                                  65
                                                                                  (or
                                                                                  the
                                                                                  Normal
                                                                                  Retirement
                                                                                  Age
                                                                                  specified
                                                                                  in
                                                                                  the
                                                                                  Plan,
                                                                                  if
                                                                                  earlier);

                                                                              

                                                                      

                                                                       

                                                                      
                                                                        	 	
                                                                                (2)

                                                                              	
                                                                                occurs
                                                                                  the
                                                                                  10th
                                                                                  anniversary
                                                                                  of
                                                                                  the
                                                                                  year
                                                                                  in
                                                                                  which
                                                                                  the
                                                                                  Participant
                                                                                  commenced
                                                                                  participation
                                                                                  in
                                                                                  the
                                                                                  Plan;
                                                                                  or

                                                                              

                                                                      

                                                                       

                                                                      
                                                                        	 	
                                                                                (3)

                                                                              	
                                                                                the
                                                                                  Participant
                                                                                  terminates
                                                                                  Service
                                                                                  with
                                                                                  the
                                                                                  Employer.
                                                                                  

                                                                              

                                                                      

                                                                       

                                                                      
                                                                        	 	
                                                                                (b)

                                                                              	
                                                                                Notwithstanding
                                                                                  the
                                                                                  foregoing,
                                                                                  the
                                                                                  failure
                                                                                  of
                                                                                  a
                                                                                  Participant
                                                                                  to
                                                                                  consent
                                                                                  to
                                                                                  a
                                                                                  distribution
                                                                                  while
                                                                                  a
                                                                                  benefit
                                                                                  is
                                                                                  immediately
                                                                                  distributable,
                                                                                  shall
                                                                                  be
                                                                                  deemed
                                                                                  to
                                                                                  be
                                                                                  an
                                                                                  election
                                                                                  to
                                                                                  defer
                                                                                  commencement
                                                                                  of
                                                                                  payment
                                                                                  of
                                                                                  any
                                                                                  benefit
                                                                                  sufficient
                                                                                  to
                                                                                  satisfy
                                                                                  this
                                                                                  Section.

                                                                              

                                                                      

                                                                      

                                                                        
                                                                          	 	
                                                                                  7.5

                                                                                	
                                                                                  Minimum
                                                                                    Required
                                                                                    Distributions.

                                                                                

                                                                        

                                                                         

                                                                        
                                                                          	 	
                                                                                  (a)

                                                                                	
                                                                                  Required
                                                                                    Beginning
                                                                                    Date.
                                                                                    The
                                                                                    entire
                                                                                    interest
                                                                                    of
                                                                                    a
                                                                                    Participant
                                                                                    must
                                                                                    be
                                                                                    distributed
                                                                                    or
                                                                                    begin
                                                                                    to
                                                                                    be
                                                                                    distributed
                                                                                    no
                                                                                    later
                                                                                    than
                                                                                    the
                                                                                    Participant’s
                                                                                    Required
                                                                                    Beginning
                                                                                    Date.
                                                                                    

                                                                                

                                                                        

                                                                         

                                                                        
                                                                          	 	
                                                                                  (b)

                                                                                	
                                                                                  Limits
                                                                                    on
                                                                                    Distribution
                                                                                    Periods.
                                                                                    As
                                                                                    of
                                                                                    the
                                                                                    first
                                                                                    distribution
                                                                                    calendar
                                                                                    year,
                                                                                    distributions,
                                                                                    if
                                                                                    not
                                                                                    made
                                                                                    in
                                                                                    a
                                                                                    single
                                                                                    sum,
                                                                                    may
                                                                                    only
                                                                                    be
                                                                                    made
                                                                                    over
                                                                                    one
                                                                                    of
                                                                                    the
                                                                                    following
                                                                                    periods
                                                                                    (or
                                                                                    a
                                                                                    combination
                                                                                    thereof):

                                                                                

                                                                        

                                                                        

                                                                          
                                                                            	 	
                                                                                    (1)

                                                                                  	
                                                                                    a
                                                                                      period
                                                                                      certain
                                                                                      not
                                                                                      extending
                                                                                      beyond
                                                                                      the
                                                                                      life
                                                                                      expectancy
                                                                                      of
                                                                                      the
                                                                                      Participant,
                                                                                      or

                                                                                  

                                                                          

                                                                           

                                                                          
                                                                            	 	
                                                                                    (2)

                                                                                  	
                                                                                    a
                                                                                      period
                                                                                      certain
                                                                                      not
                                                                                      extending
                                                                                      beyond
                                                                                      the
                                                                                      joint
                                                                                      life
                                                                                      and
                                                                                      last
                                                                                      survivor
                                                                                      expectancy
                                                                                      of
                                                                                      the
                                                                                      Participant
                                                                                      and
                                                                                      a
                                                                                      designated
                                                                                      Beneficiary.

                                                                                  

                                                                          

                                                                           

                                                                          
                                                                            	 	
                                                                                    (c)

                                                                                  	
                                                                                    Minimum
                                                                                      Amounts
                                                                                      to
                                                                                      be
                                                                                      Distributed.

                                                                                  

                                                                          

                                                                          

                                                                            
                                                                              	 	
                                                                                      (1)

                                                                                    	
                                                                                      If
                                                                                        a
                                                                                        Participant’s
                                                                                        interest
                                                                                        is
                                                                                        to
                                                                                        be
                                                                                        distributed
                                                                                        in
                                                                                        other
                                                                                        than
                                                                                        a
                                                                                        single-sum,
                                                                                        the
                                                                                        minimum
                                                                                        amount
                                                                                        that
                                                                                        will
                                                                                        be
                                                                                        distributed
                                                                                        for
                                                                                        each
                                                                                        distribution
                                                                                        calendar
                                                                                        year
                                                                                        is
                                                                                        the
                                                                                        lesser
                                                                                        of:

                                                                                    

                                                                            

                                                                             

                                                                            
                                                                              	 	
                                                                                      (i)

                                                                                    	
                                                                                      the
                                                                                        quotient
                                                                                        obtained
                                                                                        by
                                                                                        dividing
                                                                                        the
                                                                                        Participant’s
                                                                                        account
                                                                                        balance
                                                                                        by
                                                                                        the
                                                                                        distribution
                                                                                        period
                                                                                        in
                                                                                        the
                                                                                        Uniform
                                                                                        Lifetime
                                                                                        Table
                                                                                        set
                                                                                        forth
                                                                                        in
                                                                                        Section
                                                                                        1.401(a)(9)-9
                                                                                        of
                                                                                        the
                                                                                        Treasury
                                                                                        regulations,
                                                                                        using
                                                                                        the
                                                                                        Participant’s
                                                                                        age
                                                                                        as
                                                                                        of
                                                                                        the
                                                                                        Participant’s
                                                                                        birthday
                                                                                        in
                                                                                        the
                                                                                        distribution
                                                                                        calendar
                                                                                        year;
                                                                                        or
                                                                                        

                                                                                    

                                                                            

                                                                             

                                                                            
                                                                              	 	
                                                                                      (ii)

                                                                                    	
                                                                                      if
                                                                                        the
                                                                                        Participant’s
                                                                                        sole
                                                                                        designated
                                                                                        beneficiary
                                                                                        for
                                                                                        the
                                                                                        distribution
                                                                                        calendar
                                                                                        year
                                                                                        is
                                                                                        the
                                                                                        Participant’s
                                                                                        spouse,
                                                                                        the
                                                                                        quotient
                                                                                        obtained
                                                                                        by
                                                                                        dividing
                                                                                        the
                                                                                        Participant’s
                                                                                        account
                                                                                        balance
                                                                                        by
                                                                                        the
                                                                                        number
                                                                                        in
                                                                                        the
                                                                                        Joint
                                                                                        and
                                                                                        Last
                                                                                        Survivor
                                                                                        Table
                                                                                        set
                                                                                        forth
                                                                                        in
                                                                                        Section
                                                                                        1.401(a)(9)-9
                                                                                        of
                                                                                        the
                                                                                        Treasury
                                                                                        regulations,
                                                                                        using
                                                                                        the
                                                                                        Participant’s
                                                                                        and
                                                                                        spouse’s
                                                                                        attained
                                                                                        ages
                                                                                        as
                                                                                        of
                                                                                        the
                                                                                        Participant’s
                                                                                        and
                                                                                        spouse’s
                                                                                        birthdays
                                                                                        in
                                                                                        the
                                                                                        distribution
                                                                                        calendar
                                                                                        year.

                                                                                    

                                                                            

                                                                            

                                                                              
                                                                                	 	
                                                                                        (2)

                                                                                      	
                                                                                        Required
                                                                                          minimum
                                                                                          distributions
                                                                                          will
                                                                                          be
                                                                                          determined
                                                                                          under
                                                                                          this
                                                                                          Section
                                                                                          7.5
                                                                                          beginning
                                                                                          with
                                                                                          the
                                                                                          first
                                                                                          distribution
                                                                                          calendar
                                                                                          year
                                                                                          and
                                                                                          up
                                                                                          to
                                                                                          and
                                                                                          including
                                                                                          the
                                                                                          distribution
                                                                                          calendar
                                                                                          year
                                                                                          that
                                                                                          includes
                                                                                          the
                                                                                          Participant’s
                                                                                          date
                                                                                          of
                                                                                          death.

                                                                                      

                                                                              

                                                                               

                                                                              
                                                                                	 	
                                                                                        (3)

                                                                                      	
                                                                                        The
                                                                                          minimum
                                                                                          distribution
                                                                                          required
                                                                                          for
                                                                                          the
                                                                                          Participant’s
                                                                                          first
                                                                                          distribution
                                                                                          calendar
                                                                                          year
                                                                                          must
                                                                                          be
                                                                                          made
                                                                                          on
                                                                                          or
                                                                                          before
                                                                                          the
                                                                                          Participant’s
                                                                                          Required
                                                                                          Beginning
                                                                                          Date.
                                                                                          The
                                                                                          minimum
                                                                                          distribution
                                                                                          for
                                                                                          other
                                                                                          calendar
                                                                                          years,
                                                                                          including
                                                                                          the
                                                                                          minimum
                                                                                          distribution
                                                                                          for
                                                                                          the
                                                                                          distribution
                                                                                          calendar
                                                                                          year
                                                                                          in
                                                                                          which
                                                                                          the
                                                                                          Participant’s
                                                                                          Required
                                                                                          Beginning
                                                                                          Date
                                                                                          occurs,
                                                                                          must
                                                                                          be
                                                                                          made
                                                                                          on
                                                                                          or
                                                                                          before
                                                                                          December
                                                                                          31
                                                                                          of
                                                                                          that
                                                                                          distribution
                                                                                          calendar
                                                                                          year.
                                                                                          

                                                                                      

                                                                              

                                                                               

                                                                              
                                                                                	 	
                                                                                        7.6

                                                                                      	
                                                                                        Distribution
                                                                                          of
                                                                                          Death
                                                                                          Benefits.

                                                                                      

                                                                              

                                                                            

                                                                          

                                                                        

                                                                      

                                                                    

                                                                  

                                                                

                                                              

                                                              

                                                                
                                                                  	 	
                                                                          (a)

                                                                        	
                                                                          Method
                                                                            of Distribution.
                                                                            Upon
                                                                            the death
                                                                            of a
                                                                            Participant,
                                                                            the following
                                                                            distribution
                                                                            provisions
                                                                            shall
                                                                            take
                                                                            effect:

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (1)

                                                                        	
                                                                          If
                                                                            the Participant
                                                                            dies
                                                                            after
                                                                            the date
                                                                            distribution
                                                                            begins,
                                                                            the remaining
                                                                            portion
                                                                            of the
                                                                            Participant’s interest
                                                                            will
                                                                            continue
                                                                            to be
                                                                            distributed
                                                                            at
                                                                            least
                                                                            as rapidly
                                                                            as under
                                                                            the method
                                                                            of distribution
                                                                            being
                                                                            used
                                                                            prior
                                                                            to
                                                                            the Participant’s death.
                                                                            Notwithstanding
                                                                            the preceding
                                                                            sentence,
                                                                            the
                                                                            following
                                                                            shall
                                                                            apply:

                                                                        

                                                                

                                                                

                                                                  
                                                                    	 	
                                                                            (i)

                                                                          	
                                                                            If
                                                                              there
                                                                              is
                                                                              a designated
                                                                              beneficiary,
                                                                              the
                                                                              minimum
                                                                              amount
                                                                              that
                                                                              will
                                                                              be
                                                                              distributed
                                                                              for
                                                                              each
                                                                              distribution
                                                                              calendar
                                                                              year
                                                                              after
                                                                              the
                                                                              year
                                                                              of
                                                                              the
                                                                              Participant’s death
                                                                              is
                                                                              the
                                                                              quotient
                                                                              obtained
                                                                              by
                                                                              dividing
                                                                              the
                                                                              Participant’s
                                                                              account
                                                                              balance
                                                                              by
                                                                              the
                                                                              longer
                                                                              of
                                                                              the
                                                                              remaining
                                                                              life
                                                                              expectancy
                                                                              of
                                                                              the
                                                                              Participant
                                                                              or
                                                                              the
                                                                              remaining
                                                                              life
                                                                              expectancy
                                                                              of
                                                                              the
                                                                              Participant’s
                                                                              designated
                                                                              beneficiary,
                                                                              determined
                                                                              as
                                                                              follows:

                                                                          

                                                                  

                                                                   

                                                                  
                                                                    	 	
                                                                            (A)

                                                                          	
                                                                            the
                                                                              Participant’s remaining
                                                                              life
                                                                              expectancy
                                                                              is
                                                                              calculated
                                                                              using
                                                                              the
                                                                              age
                                                                              of
                                                                              the
                                                                              Participant
                                                                              in
                                                                              the
                                                                              year
                                                                              of
                                                                              death,
                                                                              reduced
                                                                              by
                                                                              one
                                                                              for
                                                                              each
                                                                              subsequent
                                                                              year.

                                                                          

                                                                  

                                                                   

                                                                  
                                                                    	 	
                                                                            (B)

                                                                          	
                                                                            if
                                                                              the
                                                                              Participant’s surviving
                                                                              spouse
                                                                              is
                                                                              the
                                                                              Participant’s sole
                                                                              designated
                                                                              beneficiary,
                                                                              the
                                                                              remaining
                                                                              life
                                                                              expectancy
                                                                              of
                                                                              the
                                                                              surviving
                                                                              spouse
                                                                              is
                                                                              calculated
                                                                              for
                                                                              each
                                                                              distribution
                                                                              calendar
                                                                              year
                                                                              after
                                                                              the
                                                                              year
                                                                              of
                                                                              the
                                                                              Participant’s death
                                                                              using
                                                                              the
                                                                              surviving
                                                                              spouse’s age
                                                                              as
                                                                              of
                                                                              the
                                                                              spouse’s
                                                                              birthday
                                                                              in
                                                                              that
                                                                              year.
                                                                              For
                                                                              distribution
                                                                              calendar
                                                                              years
                                                                              after
                                                                              the
                                                                              year
                                                                              of
                                                                              the
                                                                              surviving
                                                                              spouse’s death,
                                                                              the
                                                                              remaining
                                                                              life
                                                                              expectancy
                                                                              of
                                                                              the
                                                                              surviving
                                                                              spouse
                                                                              is
                                                                              calculated
                                                                              using
                                                                              the
                                                                              age
                                                                              of
                                                                              the
                                                                              surviving
                                                                              spouse
                                                                              as
                                                                              of
                                                                              the
                                                                              spouse’s birthday
                                                                              in
                                                                              the
                                                                              calendar
                                                                              year
                                                                              of
                                                                              the
                                                                              spouse’s death,
                                                                              reduced
                                                                              by
                                                                              one
                                                                              for
                                                                              each
                                                                              subsequent
                                                                              calendar
                                                                              year.
                                                                              

                                                                          

                                                                  

                                                                   

                                                                  
                                                                    	 	
                                                                            (C)

                                                                          	
                                                                            if
                                                                              the
                                                                              Participant’s surviving
                                                                              spouse
                                                                              is
                                                                              not
                                                                              the
                                                                              Participant’s sole
                                                                              designated
                                                                              beneficiary,
                                                                              the
                                                                              designated
                                                                              beneficiary’s remaining
                                                                              life
                                                                              expectancy
                                                                              is
                                                                              calculated
                                                                              using
                                                                              the
                                                                              age
                                                                              of
                                                                              the
                                                                              beneficiary
                                                                              in
                                                                              the
                                                                              year
                                                                              following
                                                                              the
                                                                              year
                                                                              of
                                                                              the
                                                                              Participant’s death,
                                                                              reduced
                                                                              by
                                                                              one
                                                                              for
                                                                              each
                                                                              subsequent
                                                                              year.

                                                                          

                                                                  

                                                                  

                                                                    
                                                                      	 	
                                                                              (ii)

                                                                            	
                                                                              If
                                                                                there
                                                                                is
                                                                                no
                                                                                designated
                                                                                beneficiary
                                                                                as
                                                                                of
                                                                                September
                                                                                30
                                                                                of
                                                                                the
                                                                                year
                                                                                after
                                                                                the
                                                                                year
                                                                                of
                                                                                the
                                                                                Participant’s
                                                                                death,
                                                                                the
                                                                                minimum
                                                                                amount
                                                                                that
                                                                                will
                                                                                be
                                                                                distributed
                                                                                for
                                                                                each
                                                                                distribution
                                                                                calendar
                                                                                year
                                                                                after
                                                                                the
                                                                                year
                                                                                of
                                                                                the
                                                                                Participant’s
                                                                                death
                                                                                is
                                                                                the
                                                                                quotient
                                                                                obtained
                                                                                by
                                                                                dividing
                                                                                the
                                                                                Participant’s
                                                                                account
                                                                                balance
                                                                                by
                                                                                the
                                                                                Participant’s
                                                                                remaining
                                                                                life
                                                                                expectancy
                                                                                calculated
                                                                                using
                                                                                the
                                                                                age
                                                                                of
                                                                                the
                                                                                Participant
                                                                                in
                                                                                the
                                                                                year
                                                                                of
                                                                                death,
                                                                                reduced
                                                                                by
                                                                                one
                                                                                for
                                                                                each
                                                                                subsequent
                                                                                year.

                                                                            

                                                                    

                                                                     

                                                                    
                                                                      	 	
                                                                              (2)

                                                                            	
                                                                              If
                                                                                the
                                                                                Participant
                                                                                dies
                                                                                before
                                                                                the
                                                                                date
                                                                                distributions
                                                                                begin,
                                                                                the
                                                                                following
                                                                                provisions
                                                                                shall
                                                                                apply:

                                                                            

                                                                    

                                                                    

                                                                      
                                                                        	 	
                                                                                (i)

                                                                              	
                                                                                If
                                                                                  the
                                                                                  Participant’s
                                                                                  surviving
                                                                                  spouse
                                                                                  is
                                                                                  the
                                                                                  Participant’s
                                                                                  sole
                                                                                  designated
                                                                                  beneficiary,
                                                                                  distributions
                                                                                  to
                                                                                  the
                                                                                  surviving
                                                                                  spouse
                                                                                  will
                                                                                  begin
                                                                                  by
                                                                                  December
                                                                                  31
                                                                                  of
                                                                                  the
                                                                                  calendar
                                                                                  year
                                                                                  immediately
                                                                                  following
                                                                                  the
                                                                                  calendar
                                                                                  year
                                                                                  in
                                                                                  which
                                                                                  the
                                                                                  Participant
                                                                                  died,
                                                                                  or
                                                                                  by
                                                                                  December
                                                                                  31
                                                                                  of
                                                                                  the
                                                                                  calendar
                                                                                  year
                                                                                  in
                                                                                  which
                                                                                  the
                                                                                  Participant
                                                                                  would
                                                                                  have
                                                                                  attained
                                                                                  age
                                                                                  701⁄2,
 if
                                                                                  later.
                                                                                  If
                                                                                  the
                                                                                  Participant’s
                                                                                  surviving
                                                                                  spouse
                                                                                  is
                                                                                  the
                                                                                  Participant’s
                                                                                  sole
                                                                                  designated
                                                                                  beneficiary
                                                                                  and
                                                                                  the
                                                                                  surviving
                                                                                  spouse
                                                                                  dies
                                                                                  after
                                                                                  the
                                                                                  Participant
                                                                                  but
                                                                                  before
                                                                                  distributions
                                                                                  to
                                                                                  the
                                                                                  surviving
                                                                                  spouse
                                                                                  begin,
                                                                                  the
                                                                                  provisions
                                                                                  of
                                                                                  this
                                                                                  Section
                                                                                  7.6(a)(2),
                                                                                  other
                                                                                  than
                                                                                  the
                                                                                  preceding
                                                                                  sentence,
                                                                                  will
                                                                                  apply
                                                                                  as
                                                                                  if
                                                                                  the
                                                                                  surviving
                                                                                  spouse
                                                                                  were
                                                                                  the
                                                                                  Participant.
                                                                                  

                                                                              

                                                                      

                                                                       

                                                                      
                                                                        	 	
                                                                                (ii)

                                                                              	
                                                                                If
                                                                                  the
                                                                                  Participant’s
                                                                                  surviving
                                                                                  spouse
                                                                                  is
                                                                                  not
                                                                                  the
                                                                                  Participant’s
                                                                                  sole
                                                                                  designated
                                                                                  beneficiary,
                                                                                  distributions
                                                                                  to
                                                                                  the
                                                                                  designated
                                                                                  beneficiary
                                                                                  will
                                                                                  begin
                                                                                  by
                                                                                  December
                                                                                  31
                                                                                  of
                                                                                  the
                                                                                  calendar
                                                                                  year
                                                                                  immediately
                                                                                  following
                                                                                  the
                                                                                  calendar
                                                                                  year
                                                                                  in
                                                                                  which
                                                                                  the
                                                                                  Participant
                                                                                  died.

                                                                              

                                                                      

                                                                       

                                                                      
                                                                        	 	
                                                                                (iii)

                                                                              	
                                                                                If
                                                                                  there
                                                                                  is
                                                                                  a
                                                                                  designated
                                                                                  beneficiary
                                                                                  (spouse
                                                                                  or
                                                                                  other),
                                                                                  the
                                                                                  minimum
                                                                                  amount
                                                                                  that
                                                                                  will
                                                                                  be
                                                                                  distributed
                                                                                  for
                                                                                  each
                                                                                  distribution
                                                                                  calendar
                                                                                  year
                                                                                  after
                                                                                  the
                                                                                  year
                                                                                  of
                                                                                  the
                                                                                  Participant’s
                                                                                  death
                                                                                  is
                                                                                  the
                                                                                  quotient
                                                                                  obtained
                                                                                  by
                                                                                  dividing
                                                                                  the
                                                                                  Participant’s
                                                                                  account
                                                                                  balance
                                                                                  by
                                                                                  the
                                                                                  remaining
                                                                                  life
                                                                                  expectancy
                                                                                  of
                                                                                  the
                                                                                  Participant’s
                                                                                  designated
                                                                                  beneficiary,
                                                                                  determined
                                                                                  as
                                                                                  provided
                                                                                  in
                                                                                  Section
                                                                                  7.6(a)(1)(i).

                                                                              

                                                                      

                                                                       

                                                                      
                                                                        	 	
                                                                                (iv)

                                                                              	
                                                                                If
                                                                                  there
                                                                                  is
                                                                                  no
                                                                                  designated
                                                                                  beneficiary
                                                                                  as
                                                                                  of
                                                                                  September
                                                                                  30
                                                                                  of
                                                                                  the
                                                                                  year
                                                                                  following
                                                                                  the
                                                                                  year
                                                                                  of
                                                                                  the
                                                                                  Participant’s
                                                                                  death,
                                                                                  distribution
                                                                                  of
                                                                                  the
                                                                                  Participant’s
                                                                                  entire
                                                                                  interest
                                                                                  will
                                                                                  be
                                                                                  completed
                                                                                  by
                                                                                  December
                                                                                  31
                                                                                  of
                                                                                  the
                                                                                  calendar
                                                                                  year
                                                                                  containing
                                                                                  the
                                                                                  fifth
                                                                                  anniversary
                                                                                  of
                                                                                  the
                                                                                  Participant’s
                                                                                  death.

                                                                              

                                                                      

                                                                       

                                                                      
                                                                        	 	
                                                                                (v)

                                                                              	
                                                                                For
                                                                                  purposes
                                                                                  of
                                                                                  this
                                                                                  Section
                                                                                  7.6(a)(2),
                                                                                  distributions
                                                                                  are
                                                                                  considered
                                                                                  to
                                                                                  begin
                                                                                  on
                                                                                  the
                                                                                  Participant’s
                                                                                  Required
                                                                                  Beginning
                                                                                  Date
                                                                                  (or,
                                                                                  if
                                                                                  the
                                                                                  second
                                                                                  sentence
                                                                                  of
                                                                                  Section
                                                                                  7.6(a)(2)(i)
                                                                                  above
                                                                                  applies,
                                                                                  distributions
                                                                                  are
                                                                                  considered
                                                                                  to
                                                                                  begin
                                                                                  on
                                                                                  the
                                                                                  date
                                                                                  distributions
                                                                                  are
                                                                                  required
                                                                                  to
                                                                                  begin
                                                                                  to
                                                                                  the
                                                                                  surviving
                                                                                  spouse
                                                                                  under
                                                                                  such
                                                                                  provision).

                                                                              

                                                                      

                                                                       

                                                                      
                                                                        	 	
                                                                                (b)

                                                                              	
                                                                                Definitions.
                                                                                  For
                                                                                  purposes
                                                                                  of
                                                                                  this
                                                                                  Section
                                                                                  7.6,
                                                                                  the
                                                                                  following
                                                                                  definitions
                                                                                  shall
                                                                                  apply:
                                                                                  

                                                                              

                                                                      

                                                                      

                                                                        
                                                                          	 	
                                                                                  (1)

                                                                                	
                                                                                  Designated
                                                                                    Beneficiary.
                                                                                    The
                                                                                    individual
                                                                                    who
                                                                                    is
                                                                                    designated
                                                                                    as
                                                                                    the
                                                                                    Beneficiary
                                                                                    under
                                                                                    Section
                                                                                    8.1
                                                                                    of
                                                                                    the
                                                                                    Plan
                                                                                    and
                                                                                    is
                                                                                    the
                                                                                    designated
                                                                                    beneficiary
                                                                                    under
                                                                                    Code
                                                                                    Section
                                                                                    401(a)(9)
                                                                                    and
                                                                                    Treasury
                                                                                    Regulation
                                                                                    Section
                                                                                    1.401(a)(9)-1,
                                                                                    Q&A-4.

                                                                                

                                                                        

                                                                         

                                                                        
                                                                          	 	
                                                                                  (2)

                                                                                	
                                                                                  Distribution
                                                                                    Calendar
                                                                                    Year.
                                                                                    A
                                                                                    calendar
                                                                                    year
                                                                                    for
                                                                                    which
                                                                                    a
                                                                                    minimum
                                                                                    distribution
                                                                                    is
                                                                                    required.
                                                                                    For
                                                                                    distributions
                                                                                    beginning
                                                                                    before
                                                                                    the
                                                                                    Participant’s
                                                                                    death,
                                                                                    the
                                                                                    first
                                                                                    distribution
                                                                                    calendar
                                                                                    year
                                                                                    is
                                                                                    the
                                                                                    calendar
                                                                                    year
                                                                                    immediately
                                                                                    preceding
                                                                                    the
                                                                                    calendar
                                                                                    year
                                                                                    which
                                                                                    contains
                                                                                    the
                                                                                    Participant’s
                                                                                    Required
                                                                                    Beginning
                                                                                    Date.
                                                                                    For
                                                                                    distributions
                                                                                    beginning
                                                                                    after
                                                                                    the
                                                                                    Participant’s
                                                                                    death,
                                                                                    the
                                                                                    first
                                                                                    distribution
                                                                                    calendar
                                                                                    year
                                                                                    is
                                                                                    the
                                                                                    calendar
                                                                                    year
                                                                                    in
                                                                                    which
                                                                                    distributions
                                                                                    are
                                                                                    required
                                                                                    to
                                                                                    begin
                                                                                    pursuant
                                                                                    to
                                                                                    this
                                                                                    Section
                                                                                    7.6.
                                                                                    The
                                                                                    required
                                                                                    minimum
                                                                                    distribution
                                                                                    for
                                                                                    the
                                                                                    Participant’s
                                                                                    first
                                                                                    distribution
                                                                                    calendar
                                                                                    year
                                                                                    will
                                                                                    be
                                                                                    made
                                                                                    on
                                                                                    or
                                                                                    before
                                                                                    the
                                                                                    Participant’s
                                                                                    Required
                                                                                    Beginning
                                                                                    Date.
                                                                                    The
                                                                                    required
                                                                                    minimum
                                                                                    distribution
                                                                                    for
                                                                                    other
                                                                                    distribution
                                                                                    calendar
                                                                                    years,
                                                                                    including
                                                                                    the
                                                                                    required
                                                                                    minimum
                                                                                    distribution
                                                                                    for
                                                                                    the
                                                                                    distribution
                                                                                    calendar
                                                                                    year
                                                                                    in
                                                                                    which
                                                                                    the
                                                                                    Participant’s
                                                                                    Required
                                                                                    Beginning
                                                                                    Date
                                                                                    occurs,
                                                                                    will
                                                                                    be
                                                                                    made
                                                                                    on
                                                                                    or
                                                                                    before
                                                                                    December
                                                                                    31
                                                                                    of
                                                                                    that
                                                                                    distribution
                                                                                    calendar
                                                                                    year.
                                                                                    

                                                                                

                                                                        

                                                                         

                                                                        
                                                                          	 	
                                                                                  (3)

                                                                                	
                                                                                  Life
                                                                                    Expectancy.
                                                                                    Life
                                                                                    expectancy
                                                                                    as
                                                                                    computed
                                                                                    by
                                                                                    use
                                                                                    of
                                                                                    the
                                                                                    Single
                                                                                    Life
                                                                                    Table
                                                                                    in
                                                                                    Section
                                                                                    1.401(a)(9)-9
                                                                                    of
                                                                                    the
                                                                                    Treasury
                                                                                    Regulations.

                                                                                

                                                                        

                                                                         

                                                                        
                                                                          	 	
                                                                                  (4)

                                                                                	
                                                                                  Participant’s
                                                                                    Account
                                                                                    Balance.
                                                                                    The
                                                                                    account
                                                                                    balance
                                                                                    as
                                                                                    of
                                                                                    the
                                                                                    last
                                                                                    Valuation
                                                                                    Date
                                                                                    in
                                                                                    the
                                                                                    calendar
                                                                                    year
                                                                                    immediately
                                                                                    preceding
                                                                                    the
                                                                                    distribution
                                                                                    calendar
                                                                                    year
                                                                                    (valuation
                                                                                    calendar
                                                                                    year)
                                                                                    increased
                                                                                    by
                                                                                    the
                                                                                    amount
                                                                                    of
                                                                                    any
                                                                                    contributions
                                                                                    or
                                                                                    forfeitures
                                                                                    allocated
                                                                                    to
                                                                                    the
                                                                                    account
                                                                                    balance
                                                                                    as
                                                                                    of
                                                                                    dates
                                                                                    in
                                                                                    the
                                                                                    valuation
                                                                                    calendar
                                                                                    year
                                                                                    after
                                                                                    the
                                                                                    Valuation
                                                                                    Date
                                                                                    and
                                                                                    decreased
                                                                                    by
                                                                                    distributions
                                                                                    made
                                                                                    in
                                                                                    the
                                                                                    valuation
                                                                                    calendar
                                                                                    year
                                                                                    after
                                                                                    the
                                                                                    Valuation
                                                                                    Date.
                                                                                    The
                                                                                    account
                                                                                    balance
                                                                                    for
                                                                                    the
                                                                                    valuation
                                                                                    calendar
                                                                                    year
                                                                                    includes
                                                                                    any
                                                                                    amounts
                                                                                    rolled
                                                                                    over
                                                                                    or
                                                                                    transferred
                                                                                    to
                                                                                    the
                                                                                    Plan.

                                                                                

                                                                        

                                                                         

                                                                        
                                                                          	 	
                                                                                  (5)

                                                                                	
                                                                                  Required
                                                                                    Beginning
                                                                                    Date.
                                                                                    The
                                                                                    Required
                                                                                    Beginning
                                                                                    Date
                                                                                    of
                                                                                    a
                                                                                    Participant
                                                                                    other
                                                                                    than
                                                                                    a
                                                                                    5%
                                                                                    owner
                                                                                    (as
                                                                                    defined
                                                                                    in
                                                                                    Code
                                                                                    Section
                                                                                    416(i)(1)(B)(1)
                                                                                    is
                                                                                    the
                                                                                    later
                                                                                    of
                                                                                    April
                                                                                    1
                                                                                    of
                                                                                    the
                                                                                    calendar
                                                                                    year
                                                                                    following
                                                                                    the
                                                                                    calendar
                                                                                    year
                                                                                    in
                                                                                    which
                                                                                    the
                                                                                    Participant
                                                                                    attains
                                                                                    the
                                                                                    age
                                                                                    of
                                                                                    701⁄2
or
                                                                                    terminates
                                                                                    employment
                                                                                    with
                                                                                    all
                                                                                    Affiliated
                                                                                    Employers.
                                                                                    For
                                                                                    5%
                                                                                    owners,
                                                                                    Required
                                                                                    Beginning
                                                                                    Date
                                                                                    means
                                                                                    April
                                                                                    1st
                                                                                    of
                                                                                    the
                                                                                    calendar
                                                                                    year
                                                                                    in
                                                                                    which
                                                                                    a
                                                                                    Participant
                                                                                    attains
                                                                                    age
                                                                                    701⁄2.

                                                                                

                                                                        

                                                                        

                                                                          7.7     Distribution
                                                                            Upon
                                                                            Termination
                                                                            of Employment
                                                                            and Restrictions
                                                                            on Immediate
                                                                            Distribution.   
                                                                            If
                                                                            the
                                                                            value
                                                                            of a
                                                                            Participant’s vested
                                                                            account
                                                                            balance
                                                                            derived
                                                                            from
                                                                            employer
                                                                            and
                                                                            employee
                                                                            contributions
                                                                            exceeds
                                                                            (or at
                                                                            the time
                                                                            of any
                                                                            prior
                                                                            distribution
                                                                            exceeded)
                                                                            $1,000
                                                                            (for
                                                                            distributions
                                                                            made
                                                                            prior
                                                                            to March
                                                                            28, 2005,
                                                                            this
                                                                            amount
                                                                            was $5,000),
                                                                            and the
                                                                            account
                                                                            balance
                                                                            is immediately
                                                                            distributable,
                                                                            the
                                                                            Participant
                                                                            must
                                                                            consent
                                                                            to any
                                                                            distribution
                                                                            of such
                                                                            account
                                                                            balance.
                                                                            If the
                                                                            value
                                                                            of a
                                                                            Participant’s nonforfeitable
                                                                            account
                                                                            balance
                                                                            as so
                                                                            determined
                                                                            is
                                                                            $1,000
                                                                            or less,
                                                                            the Plan
                                                                            may immediately
                                                                            distribute
                                                                            the Participant’s entire
                                                                            nonforfeitable
                                                                            account
                                                                            balance.
                                                                            The consent
                                                                            of the
                                                                            Participant
                                                                            shall
                                                                            not be
                                                                            required
                                                                            to the
                                                                            extent
                                                                            that
                                                                            a distribution
                                                                            is required
                                                                            to satisfy
                                                                            Section
                                                                            401(a)(9)
                                                                            or 415
                                                                            of the
                                                                            Code.

                                                                           

                                                                        

                                                                        
                                                                          	 	
                                                                                  7.8

                                                                                	
                                                                                  Direct
                                                                                    Rollover.

                                                                                

                                                                        

                                                                        

                                                                          
                                                                            	 	
                                                                                    (a)

                                                                                  	
                                                                                    Applicability.
                                                                                      Notwithstanding
                                                                                      any
                                                                                      provision
                                                                                      of
                                                                                      the
                                                                                      Plan
                                                                                      to
                                                                                      the
                                                                                      contrary
                                                                                      that
                                                                                      would
                                                                                      otherwise
                                                                                      limit
                                                                                      a
                                                                                      distributee’s
                                                                                      election
                                                                                      under
                                                                                      this
                                                                                      Article,
                                                                                      a
                                                                                      distributee
                                                                                      may
                                                                                      elect,
                                                                                      at
                                                                                      the
                                                                                      time
                                                                                      and
                                                                                      in
                                                                                      the
                                                                                      manner
                                                                                      prescribed
                                                                                      by
                                                                                      the
                                                                                      Committee,
                                                                                      to
                                                                                      have
                                                                                      any
                                                                                      portion
                                                                                      of
                                                                                      an
                                                                                      eligible
                                                                                      rollover
                                                                                      distribution
                                                                                      paid
                                                                                      directly
                                                                                      to
                                                                                      an
                                                                                      eligible
                                                                                      retirement
                                                                                      plan
                                                                                      specified
                                                                                      by
                                                                                      the
                                                                                      distributee
                                                                                      in
                                                                                      a
                                                                                      direct
                                                                                      rollover.

                                                                                  

                                                                          

                                                                           

                                                                          
                                                                            	 	
                                                                                    (b)

                                                                                  	
                                                                                    Definitions.

                                                                                  

                                                                          

                                                                           

                                                                          
                                                                            	 	
                                                                                    (1)

                                                                                  	
                                                                                    Eligible
                                                                                      Rollover
                                                                                      Distribution.
                                                                                      An
                                                                                      eligible
                                                                                      rollover
                                                                                      distribution
                                                                                      is
                                                                                      any
                                                                                      distribution
                                                                                      of
                                                                                      all
                                                                                      or
                                                                                      any
                                                                                      portion
                                                                                      of
                                                                                      the
                                                                                      balance
                                                                                      to
                                                                                      the
                                                                                      credit
                                                                                      of
                                                                                      the
                                                                                      distributee,
                                                                                      except
                                                                                      that
                                                                                      an
                                                                                      eligible
                                                                                      rollover
                                                                                      distribution
                                                                                      does
                                                                                      not
                                                                                      include
                                                                                      any
                                                                                      distribution
                                                                                      that
                                                                                      is
                                                                                      one
                                                                                      of
                                                                                      a
                                                                                      series
                                                                                      of
                                                                                      substantially
                                                                                      equal
                                                                                      periodic
                                                                                      payments
                                                                                      (not
                                                                                      less
                                                                                      frequently
                                                                                      than
                                                                                      annually)
                                                                                      made
                                                                                      for
                                                                                      the
                                                                                      life
                                                                                      (or
                                                                                      life
                                                                                      expectancy)
                                                                                      of
                                                                                      the
                                                                                      distributee
                                                                                      or
                                                                                      the
                                                                                      joint
                                                                                      lives
                                                                                      (or
                                                                                      joint
                                                                                      life
                                                                                      expectancies)
                                                                                      of
                                                                                      the
                                                                                      distributee
                                                                                      and
                                                                                      the
                                                                                      distributee’s
                                                                                      designated
                                                                                      Beneficiary,
                                                                                      or
                                                                                      for
                                                                                      a
                                                                                      specified
                                                                                      period
                                                                                      of
                                                                                      ten
                                                                                      years
                                                                                      or
                                                                                      more;
                                                                                      any
                                                                                      distribution
                                                                                      to
                                                                                      the
                                                                                      extent
                                                                                      such
                                                                                      distribution
                                                                                      is
                                                                                      required
                                                                                      under
                                                                                      Section
                                                                                      401(a)(9)
                                                                                      of
                                                                                      the
                                                                                      Code;
                                                                                      any
                                                                                      amount
                                                                                      distributed
                                                                                      on
                                                                                      account
                                                                                      of
                                                                                      a
                                                                                      hardship
                                                                                      distribution;
                                                                                      and
                                                                                      the
                                                                                      portion
                                                                                      of
                                                                                      any
                                                                                      distribution
                                                                                      that
                                                                                      is
                                                                                      not
                                                                                      includible
                                                                                      in
                                                                                      gross
                                                                                      income
                                                                                      (determined
                                                                                      without
                                                                                      regard
                                                                                      to
                                                                                      the
                                                                                      exclusion
                                                                                      for
                                                                                      net
                                                                                      unrealized
                                                                                      appreciation
                                                                                      with
                                                                                      respect
                                                                                      to
                                                                                      employer
                                                                                      securities).

                                                                                  

                                                                          

                                                                           

                                                                          A
                                                                            portion
                                                                            of a
                                                                            distribution
                                                                            shall
                                                                            not fail
                                                                            to be
                                                                            an eligible
                                                                            rollover
                                                                            distribution
                                                                            merely
                                                                            because
                                                                            the portion
                                                                            consists
                                                                            of after-tax
                                                                            employee
                                                                            contributions
                                                                            which
                                                                            are not
                                                                            includable
                                                                            in gross
                                                                            income.
                                                                            However,
                                                                            such
                                                                            portion
                                                                            may be
                                                                            transferred
                                                                            only
                                                                            to an
                                                                            individual
                                                                            retirement
                                                                            account
                                                                            or annuity
                                                                            described
                                                                            in Code
                                                                            Section
                                                                            408(a)
                                                                            or
                                                                            (b),
                                                                            or to
                                                                            a qualified
                                                                            defined
                                                                            contribution
                                                                            plan
                                                                            described
                                                                            in Code
                                                                            Section
                                                                            401(a)
                                                                            or 403(a)
                                                                            that
                                                                            agrees
                                                                            to separately
                                                                            account
                                                                            for amounts
                                                                            so transferred,
                                                                            including
                                                                            separately
                                                                            accounting
                                                                            for the
                                                                            portion
                                                                            of such
                                                                            distribution
                                                                            which
                                                                            is
                                                                            includable
                                                                            in gross
                                                                            income
                                                                            and the
                                                                            portion
                                                                            of such
                                                                            distribution
                                                                            which
                                                                            is not
                                                                            so
                                                                            includable.

                                                                           

                                                                          
                                                                            	 	
                                                                                    (2)

                                                                                  	
                                                                                    Eligible
                                                                                      Retirement
                                                                                      Plan.
                                                                                      An
                                                                                      eligible
                                                                                      retirement
                                                                                      plan
                                                                                      is
                                                                                      an
                                                                                      individual
                                                                                      retirement
                                                                                      account
                                                                                      described
                                                                                      in
                                                                                      Section
                                                                                      408(a)
                                                                                      of
                                                                                      the
                                                                                      Code,
                                                                                      an
                                                                                      individual
                                                                                      retirement
                                                                                      annuity
                                                                                      described
                                                                                      in
                                                                                      Section
                                                                                      408(b)
                                                                                      of
                                                                                      the
                                                                                      Code,
                                                                                      an
                                                                                      annuity
                                                                                      plan
                                                                                      described
                                                                                      in
                                                                                      Section
                                                                                      403(a)
                                                                                      of
                                                                                      the
                                                                                      Code,
                                                                                      or
                                                                                      a
                                                                                      qualified
                                                                                      trust
                                                                                      described
                                                                                      in
                                                                                      Section
                                                                                      401(a)
                                                                                      of
                                                                                      the
                                                                                      Code,
                                                                                      that
                                                                                      accepts
                                                                                      the
                                                                                      distributee’s
                                                                                      eligible
                                                                                      rollover
                                                                                      distribution.
                                                                                      However,
                                                                                      in
                                                                                      the
                                                                                      case
                                                                                      of
                                                                                      an
                                                                                      eligible
                                                                                      rollover
                                                                                      distribution
                                                                                      to
                                                                                      the
                                                                                      surviving
                                                                                      spouse,
                                                                                      an
                                                                                      eligible
                                                                                      retirement
                                                                                      plan
                                                                                      is
                                                                                      an
                                                                                      individual
                                                                                      retirement
                                                                                      account
                                                                                      or
                                                                                      individual
                                                                                      retirement
                                                                                      annuity.

                                                                                  

                                                                          

                                                                           

                                                                          An
                                                                            eligible
                                                                            retirement
                                                                            plan
                                                                            shall
                                                                            also
                                                                            mean
                                                                            an annuity
                                                                            contract
                                                                            described
                                                                            in Code
                                                                            Section
                                                                            403(b)
                                                                            and an
                                                                            eligible
                                                                            plan
                                                                            under
                                                                            Code
                                                                            Section
                                                                            457(b)
                                                                            which
                                                                            is
                                                                            maintained
                                                                            by a
                                                                            state,
                                                                            political
                                                                            subdivision
                                                                            of a
                                                                            state,
                                                                            or any
                                                                            agency
                                                                            or any
                                                                            instrumentality
                                                                            of a
                                                                            state
                                                                            or political
                                                                            subdivision
                                                                            of a
                                                                            state
                                                                            and which
                                                                            agrees
                                                                            to separately
                                                                            account
                                                                            for amounts
                                                                            transferred
                                                                            into
                                                                            such
                                                                            plan
                                                                            from
                                                                            this
                                                                            Plan.
                                                                            The
                                                                            definition
                                                                            of eligible
                                                                            retirement
                                                                            plan
                                                                            shall
                                                                            also
                                                                            apply
                                                                            in the
                                                                            case
                                                                            of a
                                                                            distribution
                                                                            to a
                                                                            surviving
                                                                            spouse,
                                                                            or to
                                                                            a spouse
                                                                            or former
                                                                            spouse
                                                                            who is
                                                                            the
                                                                            alternate
                                                                            payee
                                                                            under
                                                                            a qualified
                                                                            domestic
                                                                            relations
                                                                            order,
                                                                            as defined
                                                                            in Code
                                                                            Section
                                                                            414(p).

                                                                           

                                                                          
                                                                            	 	
                                                                                    (3)

                                                                                  	
                                                                                    Distributee.
                                                                                      A
                                                                                      distributee
                                                                                      includes
                                                                                      an
                                                                                      Employee
                                                                                      or
                                                                                      former
                                                                                      Employee.
                                                                                      In
                                                                                      addition,
                                                                                      the
                                                                                      Employee’s
                                                                                      or
                                                                                      former
                                                                                      Employee’s
                                                                                      surviving
                                                                                      spouse
                                                                                      and
                                                                                      the
                                                                                      Employee’s
                                                                                      or
                                                                                      former
                                                                                      Employee’s
                                                                                      spouse
                                                                                      or
                                                                                      former
                                                                                      spouse
                                                                                      who
                                                                                      is
                                                                                      the
                                                                                      alternate
                                                                                      payee
                                                                                      under
                                                                                      a
                                                                                      qualified
                                                                                      domestic
                                                                                      relations
                                                                                      order,
                                                                                      as
                                                                                      described
                                                                                      in
                                                                                      Section
                                                                                      414(p)
                                                                                      of
                                                                                      the
                                                                                      Code,
                                                                                      are
                                                                                      distributees
                                                                                      with
                                                                                      regard
                                                                                      to
                                                                                      the
                                                                                      interest
                                                                                      of
                                                                                      the
                                                                                      spouse
                                                                                      or
                                                                                      former
                                                                                      spouse.

                                                                                  

                                                                          

                                                                           

                                                                          
                                                                            	 	
                                                                                    (4)

                                                                                  	
                                                                                    Direct
                                                                                      Rollover.
                                                                                      A
                                                                                      direct
                                                                                      rollover
                                                                                      is
                                                                                      a
                                                                                      payment
                                                                                      by
                                                                                      the
                                                                                      plan
                                                                                      to
                                                                                      the
                                                                                      eligible
                                                                                      retirement
                                                                                      plan
                                                                                      specified
                                                                                      by
                                                                                      the
                                                                                      distributee.

                                                                                  

                                                                          

                                                                           

                                                                          
                                                                            	 	
                                                                                    (5)

                                                                                  	
                                                                                    Non-Spouse
                                                                                      Beneficiary.
                                                                                      Effective
                                                                                      January
                                                                                      1,
                                                                                      2007,
                                                                                      a
                                                                                      direct
                                                                                      trustee-to-trustee
                                                                                      transfer
                                                                                      may
                                                                                      be
                                                                                      made
                                                                                      to
                                                                                      an
                                                                                      individual
                                                                                      retirement
                                                                                      account
                                                                                      established
                                                                                      for
                                                                                      the
                                                                                      purpose
                                                                                      of
                                                                                      receiving
                                                                                      a
                                                                                      distribution
                                                                                      from
                                                                                      a
                                                                                      designated
                                                                                      beneficiary
                                                                                      who
                                                                                      is
                                                                                      not
                                                                                      the
                                                                                      spouse
                                                                                      of
                                                                                      the
                                                                                      Employee
                                                                                      or
                                                                                      former
                                                                                      Employee.

                                                                                  

                                                                          

                                                                          

                                                                            7.9    Qualified
                                                                              Domestic
                                                                              Relations
                                                                              Order.  
                                                                              All
                                                                              rights
                                                                              and
                                                                              benefits,
                                                                              including
                                                                              election
                                                                              rights,
                                                                              provided
                                                                              to
                                                                              Participants
                                                                              pursuant
                                                                              to
                                                                              this
                                                                              Plan,
                                                                              are
                                                                              subject
                                                                              to
                                                                              the
                                                                              rights
                                                                              afforded
                                                                              to
                                                                              any
“alternate
                                                                              payee”, as
                                                                              defined
                                                                              in
                                                                              Section
                                                                              414(p)(8)
                                                                              of
                                                                              the
                                                                              Code,
                                                                              pursuant
                                                                              to
                                                                              a “qualified
                                                                              domestic
                                                                              relations
                                                                              order”, as
                                                                              defined
                                                                              in
                                                                              Section
                                                                              414(p)
                                                                              of
                                                                              the
                                                                              Code.

                                                                            

                                                                              Payment
                                                                                to
                                                                                an
“alternate
                                                                                payee”
pursuant
                                                                                to
                                                                                a
“qualified
                                                                                domestic
                                                                                relations
                                                                                order”
shall
                                                                                be
                                                                                made
                                                                                at
                                                                                such
                                                                                time
                                                                                as
                                                                                determined
                                                                                or
                                                                                permitted
                                                                                pursuant
                                                                                to
                                                                                the
                                                                                qualified
                                                                                domestic
                                                                                relations
                                                                                order,
                                                                                including
                                                                                distributions
                                                                                before
                                                                                the
                                                                                Participant
                                                                                reaches
                                                                                his
                                                                                earliest
                                                                                retirement
                                                                                age
                                                                                as
                                                                                defined
                                                                                in
                                                                                Code
                                                                                Section
                                                                                414(p)(4)(B).
                                                                                The
                                                                                Committee
                                                                                shall
                                                                                establish
                                                                                procedures
                                                                                to
                                                                                determine
                                                                                the
                                                                                status
                                                                                of
                                                                                a
                                                                                judgment,
                                                                                decree
                                                                                or
                                                                                order
                                                                                as
                                                                                a
                                                                                qualified
                                                                                domestic
                                                                                relations
                                                                                order
                                                                                and
                                                                                to
                                                                                administer
                                                                                Plan
                                                                                distributions
                                                                                in
                                                                                accordance
                                                                                with
                                                                                any
                                                                                such
                                                                                qualified
                                                                                domestic
                                                                                relations
                                                                                order.

                                                                               

                                                                              Upon
                                                                                receipt
                                                                                of
                                                                                any
                                                                                judgment,
                                                                                decree
                                                                                or
                                                                                order
                                                                                (including
                                                                                approval
                                                                                of
                                                                                a
                                                                                property
                                                                                settlement
                                                                                agreement)
                                                                                relating
                                                                                to
                                                                                the
                                                                                provision
                                                                                of
                                                                                payment
                                                                                by
                                                                                the
                                                                                Plan
                                                                                to
                                                                                an
                                                                                alternate
                                                                                payee
                                                                                pursuant
                                                                                to
                                                                                a
                                                                                state
                                                                                domestic
                                                                                relations
                                                                                law,
                                                                                the
                                                                                Committee
                                                                                shall
                                                                                promptly
                                                                                notify
                                                                                the
                                                                                affected
                                                                                Participant
                                                                                and
                                                                                any
                                                                                alternate
                                                                                payee
                                                                                of
                                                                                the
                                                                                receipt
                                                                                of
                                                                                such
                                                                                judgment,
                                                                                decree
                                                                                or
                                                                                order
                                                                                and
                                                                                shall
                                                                                notify
                                                                                the
                                                                                affected
                                                                                Participant
                                                                                and
                                                                                any
                                                                                alternate
                                                                                payee
                                                                                of
                                                                                the
                                                                                Committee’s
                                                                                procedure
                                                                                for
                                                                                determining
                                                                                whether
                                                                                or
                                                                                not
                                                                                the
                                                                                judgment,
                                                                                decree
                                                                                or
                                                                                order
                                                                                is
                                                                                a
                                                                                qualified
                                                                                domestic
                                                                                relations
                                                                                order.

                                                                               

                                                                              

                                                                                ARTICLE
                                                                                  VIII 

                                                                                BENEFICIARY
                                                                                  AND
                                                                                  PARTICIPANT
                                                                                  INFORMATION

                                                                                 

                                                                              

                                                                            

                                                                          

                                                                        

                                                                      

                                                                    

                                                                  

                                                                

                                                              

                                                            

                                                            

                                                              8.1  Designation
                                                                of Beneficiary. 

                                                              

                                                                
                                                                  	 	
                                                                          (a)

                                                                        	
                                                                          Each
                                                                            Participant
                                                                            from
                                                                            time
                                                                            to time
                                                                            may designate
                                                                            any person
                                                                            or persons
                                                                            (who
                                                                            may
                                                                            be named
                                                                            contingently
                                                                            or successively)
                                                                            to receive
                                                                            any benefits
                                                                            payable
                                                                            under
                                                                            the Plan
                                                                            upon
                                                                            or after
                                                                            his death,
                                                                            and any
                                                                            such
                                                                            designation
                                                                            may be
                                                                            changed
                                                                            from
                                                                            time
                                                                            to time
                                                                            by the
                                                                            Participant
                                                                            by filing
                                                                            a new
                                                                            designation.
                                                                            Each
                                                                            designation
                                                                            will
                                                                            revoke
                                                                            all prior
                                                                            designations
                                                                            made
                                                                            by the
                                                                            Participant,
                                                                            shall
                                                                            be in
                                                                            writing
                                                                            in the
                                                                            form
                                                                            prescribed
                                                                            by the
                                                                            Employer
                                                                            and shall
                                                                            be effective
                                                                            only
                                                                            when
                                                                            the written
                                                                            designation
                                                                            is filed
                                                                            with
                                                                            the
                                                                            Employer
                                                                            during
                                                                            his lifetime.

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (b)

                                                                        	
                                                                          The
                                                                            Beneficiary
                                                                            of a
                                                                            Participant
                                                                            who is
                                                                            married
                                                                            at the
                                                                            time
                                                                            of his
                                                                            death
                                                                            shall
                                                                            be his
                                                                            surviving
                                                                            spouse
                                                                            unless
                                                                            his surviving
                                                                            spouse
                                                                            consents
                                                                            in writing
                                                                            on
                                                                            the form
                                                                            provided
                                                                            for that
                                                                            purpose
                                                                            by the
                                                                            Committee
                                                                            to the
                                                                            designation
                                                                            of
                                                                            another
                                                                            beneficiary.
                                                                            A consent
                                                                            by a
                                                                            Participant’s spouse
                                                                            shall
                                                                            not be
                                                                            effective
                                                                            unless
                                                                            such
                                                                            consent
                                                                            is witnessed
                                                                            by one
                                                                            of the
                                                                            members
                                                                            of the
                                                                            Committee
                                                                            or a
                                                                            Notary
                                                                            Public.

                                                                        

                                                                

                                                                 

                                                                
                                                                  	 	
                                                                          (c)

                                                                        	
                                                                          In
                                                                            the absence
                                                                            of a
                                                                            valid
                                                                            Beneficiary
                                                                            designation
                                                                            (except
                                                                            in conjunction
                                                                            with
                                                                            the election
                                                                            of a
                                                                            form
                                                                            of benefit
                                                                            payment
                                                                            which
                                                                            does
                                                                            not require
                                                                            the
                                                                            designation
                                                                            of a
                                                                            specific
                                                                            Beneficiary)
                                                                            or if,
                                                                            at the
                                                                            time
                                                                            any benefit
                                                                            becomes
                                                                            payable
                                                                            to a
                                                                            Beneficiary,
                                                                            there
                                                                            is no
                                                                            living
                                                                            Beneficiary
                                                                            properly
                                                                            designated
                                                                            by the
                                                                            Participant
                                                                            to receive
                                                                            the benefit,
                                                                            the Committee
                                                                            shall
                                                                            direct
                                                                            the Trustee
                                                                            to distribute
                                                                            such
                                                                            benefit
                                                                            to the
                                                                            Participant’s spouse,
                                                                            if then
                                                                            living.
                                                                            If there
                                                                            is no
                                                                            surviving
                                                                            spouse,
                                                                            then
                                                                            the benefit
                                                                            shall
                                                                            be
                                                                            paid
                                                                            to the
                                                                            Participant’s then
                                                                            living
                                                                            descendants,
                                                                            if any,
                                                                            by root,
                                                                            otherwise
                                                                            to the
                                                                            Participant’s then
                                                                            living
                                                                            parent
                                                                            or parents,
                                                                            equally,
                                                                            otherwise
                                                                            to the
                                                                            Participant’s
                                                                            estate.

                                                                        

                                                                

                                                                

                                                                  8.2  Information
                                                                    to be Furnished
                                                                    by Participant
                                                                    and Beneficiaries.
                                                                    Any
                                                                    communications
                                                                    addressed to
                                                                    a Participant
                                                                    or Beneficiary
                                                                    at his last post
                                                                    office
                                                                    address filed
                                                                    with the Committee
                                                                    shall be binding
                                                                    on the Participant
                                                                    or
                                                                    Beneficiary for
                                                                    all purposes
                                                                    of the Plan.
                                                                    Except for the
                                                                    Committee’s sending of
                                                                    a registered
                                                                    letter to the
                                                                    last known address,
                                                                    neither the Trustees
                                                                    nor the
                                                                    Committee shall
                                                                    be obliged to
                                                                    search for any
                                                                    Participant or
                                                                    Beneficiary.

                                                                   

                                                                  

                                                                    ARTICLE
                                                                      IX 

                                                                    LOANS
                                                                      TO PARTICIPANTS

                                                                     

                                                                  

                                                                

                                                              

                                                            

                                                          

                                                        

                                                      

                                                    

                                                  

                                                  

                                                    9.1  Loans.
                                                      The
                                                      Committee shall establish a
                                                      loan program under which:

                                                    

                                                      
                                                        	 	
                                                                (a)

                                                              	
                                                                Loans
                                                                  shall be made available
                                                                  to all active Participants
                                                                  and Participants
                                                                  on
                                                                  long-term disability
                                                                  on a reasonably
                                                                  equivalent
                                                                  basis.

                                                              

                                                      

                                                       

                                                      
                                                        	 	
                                                                (b)

                                                              	
                                                                Loans
                                                                  shall not be made
                                                                  available to Highly
                                                                  Compensated Employees
                                                                  (as defined in
                                                                  Section 414(q)
                                                                  of the Code) in
                                                                  an amount greater,
                                                                  or on terms otherwise
                                                                  more favorable,
                                                                  than the amount
                                                                  or terms applicable
                                                                  to loans made
                                                                  available to other
                                                                  Employees. 

                                                              

                                                      

                                                       

                                                      
                                                        	 	
                                                                (c)

                                                              	
                                                                Loans
                                                                  must be adequately
                                                                  secured and bear
                                                                  a reasonable interest
                                                                  rate.

                                                              

                                                      

                                                       

                                                      
                                                        	 	
                                                                (d)

                                                              	
                                                                No
                                                                  loan to any Participant
                                                                  can be made to
                                                                  the extent that
                                                                  such loan when
                                                                  added to the outstanding
                                                                  balance of all
                                                                  other loans to
                                                                  the Participant
                                                                  or
                                                                  Beneficiary would
                                                                  exceed the lesser
                                                                  of (a) $50,000
                                                                  reduced by the
                                                                  excess
                                                                  (if any) of (the
                                                                  highest outstanding
                                                                  balance of loans
                                                                  during the one
                                                                  year
                                                                  period ending on
                                                                  the day before
                                                                  the loan is made,
                                                                  over the outstanding
                                                                  balance of loans
                                                                  from the Plan on
                                                                  the date the loan
                                                                  is made), or (b)
                                                                  50%
                                                                  of the Participant’s vested Accrued
                                                                  Benefit.

                                                              

                                                      

                                                       

                                                      
                                                        	 	
                                                                (e)

                                                              	
                                                                A
                                                                  Participant is
                                                                  not required to
                                                                  obtain the consent
                                                                  of his or her spouse,
                                                                  if
                                                                  any, to use of
                                                                  the account balance
                                                                  as security for
                                                                  the
                                                                  loan.

                                                              

                                                      

                                                       

                                                      
                                                        	 	
                                                                (f)

                                                              	
                                                                Loan
                                                                  repayments will
                                                                  be suspended under
                                                                  the Plan as permitted
                                                                  under Code
                                                                  Section 414(u)(4).

                                                              

                                                      

                                                       

                                                      
                                                        	 	
                                                                (g)

                                                              	
                                                                Loans
                                                                  will be funded
                                                                  with assets withdrawn
                                                                  pro rata across
                                                                  all money types
                                                                  except for the
                                                                  portion of a Participant’s Accrued Benefit
                                                                  held in his ESOP
                                                                  Account, PAYSOP
                                                                  Account, and Stock
                                                                  Bonus Account and
                                                                  any other assets
                                                                  invested in company
                                                                  stock. 

                                                              

                                                      

                                                       

                                                      Notwithstanding
                                                        any other provision of this
                                                        Plan, the portion of the
                                                        Participant’s vested
                                                        account balance used as a
                                                        security interest held by
                                                        the Plan by reason of a loan
                                                        outstanding to the Participant
                                                        shall be taken into account
                                                        for purposes of
                                                        determining the amount of
                                                        the account balance payable
                                                        at the time of death or
                                                        distribution, but only if
                                                        the reduction is used as
                                                        repayment of the loan. If
                                                        less than 100% of the Participant’s vested account balance
                                                        (determined without
                                                        regard to the preceding sentence)
                                                        is payable to the surviving
                                                        spouse, then the
                                                        account balance shall be
                                                        adjusted by first reducing
                                                        the vested account balance
                                                        by the amount of the security
                                                        used as repayment of the
                                                        loan, and then
                                                        determining the benefit payable
                                                        to the surviving spouse.

                                                       

                                                      For
                                                        the
                                                        purpose of the above limitation,
                                                        all loans from all plans
                                                        of the Employer and
                                                        all Affiliated Employers
                                                        are aggregated. Furthermore,
                                                        any loan shall by its
                                                        terms require that repayment
                                                        (principal and interest)
                                                        be amortized in level
                                                        payments, not less frequently
                                                        than quarterly, over a period
                                                        not extending beyond
                                                        five years from the date
                                                        of the loan, unless such
                                                        loan is used to acquire a
                                                        dwelling unit which within
                                                        a reasonable time (determined
                                                        at the time the loan is
                                                        made) will be used as the
                                                        principal residence of the
                                                        Participant. 

                                                      

                                                        9.2  Participant
                                                          Loan Program.
                                                          The
                                                          Committee may prescribe
                                                          such additional rules and
                                                          procedures as it may deem
                                                          appropriate, including,
                                                          without limitation, rules
                                                          and procedures by which
                                                          the
                                                          making of loans to Participants
                                                          may be terminated, suspended,
                                                          or restricted, if
                                                          any, to the extent deemed
                                                          by the Committee to be
                                                          necessary or desirable
                                                          in order
                                                          to effect compliance with
                                                          applicable laws or regulations
                                                          (the “Participant Loan
                                                          Program”). The rules and procedures
                                                          reported in the Loan-by-Phone
                                                          guidelines are
                                                          incorporated in the Participant
                                                          Loan Program. To the extent
                                                          the Participant Loan
                                                          Program conflicts with
                                                          the terms of the Plan,
                                                          the terms of the Participant
                                                          Loan
                                                          Program shall prevail,
                                                          as long as such Program
                                                          does not conflict with
                                                          the Code,
                                                          ERISA, or other applicable
                                                          laws or regulations.

                                                         

                                                        

                                                          ARTICLE
                                                            X

                                                          ESOP
                                                            PROVISIONS

                                                          

                                                            10.1
                                                               Status
                                                              of ESOP. 
                                                              The
                                                              Company adopted the
                                                              CenturyTel, Inc. Stock
                                                              Bonus Plan and PAYSOP
                                                              on October 1,
                                                              1975 and the CenturyTel,
                                                              Inc. Employee Stock
                                                              Ownership Plan (“ESOP”) on January
                                                              1, 1987. By merger
                                                              agreement dated September
                                                              18, 2001, the CenturyTel,
                                                              Inc.
                                                              Stock Bonus Plan and
                                                              PAYSOP was merged into
                                                              the ESOP. The Accounts
                                                              of
                                                              Participants who were
                                                              actively employed with
                                                              the Employer on November
                                                              6, 2006
                                                              are fully vested. Effective
                                                              December 31, 2006,
                                                              the ESOP was merged
                                                              into this
                                                              Plan.

                                                             

                                                            10.2  Trust
                                                              or Trusts. 
                                                              The
                                                              assets of the ESOP
                                                              Account are held in
                                                              the CenturyTel, Inc.
                                                              Employee Stock
                                                              Ownership Trust I and
                                                              the assets of the PAYSOP
                                                              Account and the Stock
                                                              Bonus
                                                              Account are held in
                                                              the CenturyTel, Inc.
                                                              Employee Stock Ownership
                                                              Trust II (the
“ESOP Trusts”). The Trustee of the
                                                              ESOP Trusts is Sterne,
                                                              Agee & Leach,
                                                              Inc..

                                                             

                                                            10.3  Investment
                                                              Diversification. 
                                                              Each
                                                              Participant in the
                                                              Plan is permitted to
                                                              diversify the investment
                                                              of 100% of his
                                                              ESOP Account, Stock
                                                              Bonus Account, and
                                                              PAYSOP Account at any
                                                              time. The net cash
                                                              proceeds realized from
                                                              the sale by the Plan
                                                              of the shares of Company
                                                              Stock for
                                                              which diversification
                                                              is elected shall be
                                                              transferred to the
                                                              Participant’s ESOP
                                                              Transfer Account and
                                                              invested in the Investment
                                                              Options designated.

                                                             

                                                            10.4  Company
                                                              Stock Distributions. 

                                                            

                                                              
                                                                	 	
                                                                        (a)

                                                                      	
                                                                        Notwithstanding
                                                                          the provisions
                                                                          of Article
                                                                          VII, distributions
                                                                          of Company
                                                                          Stock from
                                                                          Participants’
ESOP Account,
                                                                          Stock Bonus
                                                                          Account,
                                                                          and PAYSOP
                                                                          Account
                                                                          shall
                                                                          be made
                                                                          in accordance
                                                                          with this
                                                                          Section
                                                                          10.4, unless
                                                                          the application
                                                                          of
                                                                          Article
                                                                          VII would
                                                                          result
                                                                          in an earlier
                                                                          distribution
                                                                          date.

                                                                      

                                                              

                                                               

                                                              
                                                                	 	
                                                                        (b)

                                                                      	
                                                                        Unless
                                                                          the Participant
                                                                          (or his
                                                                          beneficiary,
                                                                          if the
                                                                          Participant
                                                                          is deceased)
                                                                          elects
                                                                          otherwise,
                                                                          if a Participant
                                                                          retires,
                                                                          dies or
                                                                          becomes
                                                                          disabled
                                                                          while
                                                                          employed
                                                                          by the
                                                                          Employer,
                                                                          distribution
                                                                          of Company
                                                                          Stock in
                                                                          his ESOP
                                                                          Account,
                                                                          Stock Bonus
                                                                          Account,
                                                                          and PAYSOP
                                                                          Account
                                                                          will be
                                                                          made or
                                                                          commenced
                                                                          as soon
                                                                          as practicable
                                                                          following
                                                                          the date
                                                                          on which
                                                                          the Participant
                                                                          retires,
                                                                          dies or
                                                                          becomes
                                                                          disabled,
                                                                          but not
                                                                          later than
                                                                          the sixtieth
                                                                          (60th)
                                                                          day next
                                                                          following
                                                                          the close
                                                                          of the
                                                                          Plan Year
                                                                          during
                                                                          which the
                                                                          Participant
                                                                          retires,
                                                                          dies or
                                                                          becomes
                                                                          disabled.

                                                                      

                                                              

                                                               

                                                              
                                                                	 	
                                                                        (c)

                                                                      	
                                                                        Unless
                                                                          the Participant
                                                                          elects
                                                                          otherwise,
                                                                          upon termination
                                                                          of employment
                                                                          of the
                                                                          Participant
                                                                          with the
                                                                          Employer
                                                                          for reasons
                                                                          other than
                                                                          retirement,
                                                                          death or
                                                                          disability,
                                                                          distribution
                                                                          of Company
                                                                          Stock in
                                                                          his ESOP
                                                                          Account,
                                                                          Stock Bonus
                                                                          Account,
                                                                          and PAYSOP
                                                                          Account
                                                                          will be
                                                                          made not
                                                                          later than
                                                                          the later
                                                                          of:
                                                                          

                                                                      

                                                              

                                                               

                                                              
                                                                	 	
                                                                        (1)

                                                                      	
                                                                        one
                                                                          (1) year
                                                                          after the
                                                                          close of
                                                                          the Plan
                                                                          Year which
                                                                          is the
                                                                          fifth (5th)
                                                                          Plan
                                                                          Year following
                                                                          the Plan
                                                                          Year in
                                                                          which his
                                                                          employment
                                                                          terminates,
                                                                          unless
                                                                          the Participant
                                                                          is reemployed
                                                                          by the
                                                                          Employer
                                                                          before
                                                                          the end
                                                                          of such
                                                                          year;
                                                                          or 

                                                                      

                                                              

                                                               

                                                              
                                                                	 	
                                                                        (2)

                                                                      	
                                                                        the
                                                                          sixtieth
                                                                          (60th)
                                                                          day following
                                                                          the end
                                                                          of the
                                                                          Plan Year
                                                                          in which
                                                                          the
                                                                          Participant
                                                                          attains
                                                                          Normal
                                                                          Retirement
                                                                          Age.

                                                                      

                                                              

                                                               

                                                              
                                                                	 	
                                                                        (d)

                                                                      	
                                                                        Any
                                                                          distribution
                                                                          hereunder
                                                                          shall comply
                                                                          with the
                                                                          consent
                                                                          requirements
                                                                          contained
                                                                          in Section
                                                                          7.7.

                                                                      

                                                              

                                                              

                                                                10.5  Optional
                                                                  Methods of Payment
                                                                  Available at Retirement. 
                                                                  Upon actual retirement
                                                                  at or after age
                                                                  55 (“Normal Retirement
                                                                  Date”), a
                                                                  Participant shall
                                                                  be entitled to
                                                                  receive the full
                                                                  amount credited
                                                                  to his ESOP
                                                                  Account as of the
                                                                  Valuation Date
                                                                  immediately preceding
                                                                  the month in which
                                                                  payment is to be
                                                                  made, which amount
                                                                  shall be paid to
                                                                  the Participant
                                                                  in one lump
                                                                  sum within the
                                                                  later of: (i) sixty
                                                                  (60) days after
                                                                  the close of the
                                                                  Plan Year in
                                                                  which the Participant
                                                                  retires, or (ii)
                                                                  sixty (60) days
                                                                  after the distributable
                                                                  amount has been
                                                                  determined, unless
                                                                  prior to the date
                                                                  of his retirement
                                                                  he
                                                                  elects, in the
                                                                  manner prescribed
                                                                  by the Committee,
                                                                  any one of the
                                                                  following
                                                                  method or methods:

                                                                

                                                                  
                                                                    	 	
                                                                            (a)

                                                                          	
                                                                            Payment
                                                                              of
                                                                              the
                                                                              entire
                                                                              amount
                                                                              of
                                                                              the
                                                                              Participant’s Account
                                                                              in
                                                                              one
                                                                              lump
                                                                              sum
                                                                              at
                                                                              some
                                                                              future
                                                                              date,
                                                                              not
                                                                              later
                                                                              than
                                                                              one
                                                                              year
                                                                              after
                                                                              Normal
                                                                              Retirement
                                                                              Date;

                                                                          

                                                                  

                                                                   

                                                                  
                                                                    	 	
                                                                            (b)

                                                                          	
                                                                            Payment
                                                                              in
                                                                              substantially
                                                                              equal
                                                                              annual,
                                                                              quarterly
                                                                              or
                                                                              monthly
                                                                              installments
                                                                              (including
                                                                              net
                                                                              investment
                                                                              income,
                                                                              gain
                                                                              or
                                                                              loss)
                                                                              until
                                                                              the
                                                                              value
                                                                              of
                                                                              such
                                                                              Participant’s ESOP
                                                                              Account
                                                                              is
                                                                              exhausted.
                                                                              Unless
                                                                              the
                                                                              Participant
                                                                              elects
                                                                              otherwise,
                                                                              the
                                                                              payment
                                                                              period
                                                                              for
                                                                              a Participant’s ESOP
                                                                              Account
                                                                              shall
                                                                              not
                                                                              exceed
                                                                              five
                                                                              (5)
                                                                              years.
                                                                              This
                                                                              five
                                                                              (5)
                                                                              year
                                                                              payment
                                                                              period
                                                                              for
                                                                              ESOP
                                                                              Accounts
                                                                              shall
                                                                              be
                                                                              extended
                                                                              by
                                                                              one
                                                                              (1)
                                                                              year,
                                                                              up
                                                                              to
                                                                              five
                                                                              (5)
                                                                              additional
                                                                              years,
                                                                              for
                                                                              each
                                                                              $100,000
                                                                              (or
                                                                              fraction
                                                                              thereof)
                                                                              by
                                                                              which
                                                                              such
                                                                              Participant’s Account
                                                                              balance
                                                                              exceeds
                                                                              $500,000
                                                                              (the
                                                                              dollar
                                                                              amounts
                                                                              herein
                                                                              are
                                                                              subject
                                                                              to
                                                                              cost
                                                                              of
                                                                              living
                                                                              adjustments
                                                                              prescribed
                                                                              by
                                                                              the
                                                                              Secretary
                                                                              of
                                                                              the
                                                                              Treasury;
                                                                              for
                                                                              the
                                                                              2006
                                                                              Plan
                                                                              Year
                                                                              these
                                                                              amounts
                                                                              are
                                                                              $175,000
                                                                              and
                                                                              $885,000,
                                                                              and
                                                                              for
                                                                              the
                                                                              2007
                                                                              Plan
                                                                              Year
                                                                              these
                                                                              amounts
                                                                              are
                                                                              $180,000
                                                                              and
                                                                              $915,000
                                                                              respectively);
                                                                              or

                                                                          

                                                                  

                                                                   

                                                                  
                                                                    	 	
                                                                            (c)

                                                                          	
                                                                            Any
                                                                              combination
                                                                              of
                                                                              the
                                                                              foregoing.

                                                                          

                                                                  

                                                                   

                                                                  Notwithstanding
                                                                    anything contained
                                                                    in this Section
                                                                    10.5, lump sum,
                                                                    installment or
                                                                    any other
                                                                    benefits may
                                                                    not be paid directly
                                                                    from the Plan
                                                                    in any form of
                                                                    a life annuity
                                                                    or
                                                                    through the distribution
                                                                    of property in
                                                                    any form of a
                                                                    life annuity.

                                                                   

                                                                  In
                                                                    addition, if
                                                                    the Participant’s spouse is not
                                                                    the designated
                                                                    beneficiary,
                                                                    the
                                                                    method of distribution
                                                                    selected must
                                                                    assure that at
                                                                    least fifty percent
                                                                    (50%) of
                                                                    the present value
                                                                    of the amount
                                                                    available for
                                                                    distribution
                                                                    is paid within
                                                                    the
                                                                    life expectancy
                                                                    of the Participant.

                                                                   

                                                                  All
                                                                    distributions
                                                                    required under
                                                                    this Section
                                                                    shall be determined
                                                                    and made in
                                                                    accordance with
                                                                    Section 7.5.
                                                                    Any distribution
                                                                    under this Section
                                                                    10.5 shall
                                                                    comply with the
                                                                    consent requirements
                                                                    contained in
                                                                    Section 7.7.

                                                                   

                                                                  10.6  Payment
                                                                    in Shares or
                                                                    Cash.
                                                                    Any
                                                                    distributions
                                                                    from an ESOP
                                                                    Account, Stock
                                                                    Bonus Account,
                                                                    and PAYSOP Account
                                                                    shall be made in cash
                                                                    unless the Participant
                                                                    elects to receive
                                                                    the value of
                                                                    such Accounts
                                                                    in the form of
                                                                    Company Stock.
                                                                    Any distributions
                                                                    of Company Stock
                                                                    from the ESOP
                                                                    Account, Stock
                                                                    Bonus Account,
                                                                    and PAYSOP Account
                                                                    shall be make
                                                                    by
                                                                    distributing
                                                                    whole shares
                                                                    of Company Stock,
                                                                    as determined
                                                                    by the Trustee
                                                                    of ESOP
                                                                    Trusts I and
                                                                    II, at the market
                                                                    value of such
                                                                    shares on a national
                                                                    securities
                                                                    exchange or a
                                                                    national quotation
                                                                    system, with
                                                                    the value of
                                                                    any fractional
                                                                    shares
                                                                    paid in cash.

                                                                   

                                                                  10.7  Dividends.
                                                                    Cash
                                                                    dividends on
                                                                    shares of Company
                                                                    Stock allocated
                                                                    to Accounts of
                                                                    Participants
                                                                    who
                                                                    are entitled
                                                                    to receive distributions
                                                                    from the Plan
                                                                    may be paid to
                                                                    Participants
                                                                    currently, or
                                                                    at such time
                                                                    as payment is
                                                                    otherwise due
                                                                    under Article
                                                                    VII, as
                                                                    determined in
                                                                    the sole discretion
                                                                    of the Committee,
                                                                    exercised in
                                                                    a uniform and
                                                                    nondiscriminatory
                                                                    manner.

                                                                  

                                                                    ARTICLE
                                                                      XI

                                                                    VOTING
                                                                      PROVISIONS

                                                                    

                                                                      11.1  Voting
                                                                        Rights of
                                                                        Company Stock.
                                                                        Each
                                                                        Participant,
                                                                        including
                                                                        their beneficiaries
                                                                        and alternate
                                                                        payees (individually,
                                                                        “Participant” and collectively,
“Participants”) is, for
                                                                        purposes
                                                                        of this
                                                                        Section,
                                                                        hereby designated
                                                                        a “named fiduciary” within the
                                                                        meaning of
                                                                        ERISA
                                                                        Section 403(a)(1)
                                                                        and shall
                                                                        be entitled
                                                                        to direct
                                                                        the Plan
                                                                        and Trustee
                                                                        as to the
                                                                        manner in
                                                                        which Company
                                                                        Stock allocated
                                                                        to such Participant’s accounts
                                                                        is to be
                                                                        voted on
                                                                        each matter
                                                                        brought before
                                                                        an annual
                                                                        or special
                                                                        stockholders’ meeting
                                                                        of the Company.
                                                                        Company Stock
                                                                        may be held
                                                                        in different
                                                                        accounts,
                                                                        including
                                                                        the
                                                                        ESOP Accounts,
                                                                        PAYSOP Accounts
                                                                        and Stock
                                                                        Bonus Accounts.
                                                                        Company Stock
                                                                        allocated
                                                                        to ESOP Accounts
                                                                        shall be
                                                                        voted as
                                                                        provided
                                                                        below by
                                                                        the Trustee
                                                                        of CenturyTel
                                                                        Employer
                                                                        Stock Ownership
                                                                        Trust I.
                                                                        Company Stock
                                                                        allocated
                                                                        to Stock
                                                                        Bonus
                                                                        Accounts
                                                                        and PAYSOP
                                                                        accounts
                                                                        shall be
                                                                        voted as
                                                                        provided
                                                                        below by
                                                                        the Trustee
                                                                        of
                                                                        CenturyTel
                                                                        Employer
                                                                        Stock Ownership
                                                                        Trust II.
                                                                        Company Stock
                                                                        allocated
                                                                        to all
                                                                        other accounts
                                                                        in the Plan
                                                                        shall be
                                                                        voted as
                                                                        provided
                                                                        below by
                                                                        the Trustee
                                                                        of
                                                                        the Dollars
& Sense Trust.

                                                                       

                                                                      The
                                                                        Committee
                                                                        shall determine
                                                                        the total
                                                                        number of
                                                                        shares of
                                                                        Company Stock
                                                                        allocated
                                                                        to each Participant’s accounts
                                                                        as of the
                                                                        record date
                                                                        and such
                                                                        shares shall
                                                                        be
                                                                        voted in
                                                                        accordance
                                                                        with directions
                                                                        of such Participant.
                                                                        Upon timely
                                                                        receipt of
                                                                        such directions,
                                                                        the Trustee
                                                                        shall on
                                                                        each such
                                                                        matter, vote
                                                                        as directed
                                                                        the
                                                                        number of
                                                                        votes attributable
                                                                        to such Participant.

                                                                       

                                                                      The
                                                                        number of
                                                                        votes attributable
                                                                        to each Participant
                                                                        shall be
                                                                        determined
                                                                        as
                                                                        follows:

                                                                      

                                                                        
                                                                          	 	
                                                                                  (a)

                                                                                	
                                                                                  First,
                                                                                    the
                                                                                    total
                                                                                    number
                                                                                    of
                                                                                    votes
                                                                                    attributable
                                                                                    to
                                                                                    Company
                                                                                    Stock
                                                                                    held
                                                                                    in
                                                                                    a
                                                                                    Trust
                                                                                    shall
                                                                                    be
                                                                                    determined;

                                                                                

                                                                        

                                                                         

                                                                        
                                                                          	 	
                                                                                  (b)

                                                                                	
                                                                                  Second,
                                                                                    the
                                                                                    number
                                                                                    of
                                                                                    votes
                                                                                    determined
                                                                                    under
                                                                                    (a),
                                                                                    above,
                                                                                    shall
                                                                                    be
                                                                                    attributed
                                                                                    to
                                                                                    each
                                                                                    Participant,
                                                                                    in
                                                                                    the
                                                                                    ratio
                                                                                    which
                                                                                    the
                                                                                    number
                                                                                    of
                                                                                    shares
                                                                                    of
                                                                                    Company
                                                                                    Stock
                                                                                    allocated
                                                                                    to
                                                                                    such
                                                                                    Participant’s
                                                                                    accounts
                                                                                    in
                                                                                    a
                                                                                    Trust
                                                                                    as
                                                                                    of
                                                                                    the
                                                                                    record
                                                                                    date
                                                                                    bears
                                                                                    to
                                                                                    the
                                                                                    total
                                                                                    number
                                                                                    of
                                                                                    shares
                                                                                    of
                                                                                    Company
                                                                                    Stock
                                                                                    held
                                                                                    in
                                                                                    a
                                                                                    Trust
                                                                                    as
                                                                                    of
                                                                                    such
                                                                                    date.

                                                                                

                                                                        

                                                                         

                                                                        Each
                                                                          Participant,
                                                                          as a named
                                                                          fiduciary,
                                                                          shall be
                                                                          entitled
                                                                          to separately
                                                                          direct
                                                                          the
                                                                          vote of
                                                                          a portion
                                                                          of the
                                                                          number
                                                                          of votes
                                                                          with respect
                                                                          to which
                                                                          a signed
                                                                          voting-direction
                                                                          instrument
                                                                          is not
                                                                          timely
                                                                          received
                                                                          from other
                                                                          Participants
                                                                          in a
                                                                          Trust (“Undirected
                                                                          Votes”). Such
                                                                          direction
                                                                          with respect
                                                                          to each
                                                                          Participant
                                                                          who
                                                                          timely
                                                                          elects
                                                                          to direct
                                                                          the vote
                                                                          of Undirected
                                                                          Votes in
                                                                          a Trust
                                                                          as a named
                                                                          fiduciary
                                                                          shall be
                                                                          with respect
                                                                          to a number
                                                                          of Undirected
                                                                          Votes in
                                                                          a Trust
                                                                          equal
                                                                          to the
                                                                          total number
                                                                          of Undirected
                                                                          Votes in
                                                                          a Trust
                                                                          multiplied
                                                                          by a fraction,
                                                                          the
                                                                          numerator
                                                                          of which
                                                                          is the
                                                                          total number
                                                                          of votes
                                                                          attributable
                                                                          to such
                                                                          Participant
                                                                          in a Trust
                                                                          and the
                                                                          denominator
                                                                          of which
                                                                          is the
                                                                          total number
                                                                          of votes
                                                                          attributable
                                                                          to all
                                                                          Participants
                                                                          who timely
                                                                          elect to
                                                                          vote Undirected
                                                                          Votes as
                                                                          a
                                                                          named fiduciary
                                                                          in a Trust.

                                                                        

                                                                          1.1  Responding
                                                                            to Tender
                                                                            and Exchange
                                                                            Offers.
                                                                            Each
                                                                            Participant
                                                                            is, for
                                                                            purposes
                                                                            of this
                                                                            Section,
                                                                            hereby
                                                                            designated
                                                                            a “named
                                                                            fiduciary”
within
                                                                            the meaning
                                                                            of Section
                                                                            403(a)(1)
                                                                            of ERISA
                                                                            and shall
                                                                            have
                                                                            the
                                                                            right,
                                                                            to the
                                                                            extent
                                                                            of the
                                                                            number
                                                                            of shares
                                                                            of Company
                                                                            Stock
                                                                            allocated
                                                                            to the
                                                                            Participant’s accounts
                                                                            in the
                                                                            Trust,
                                                                            to direct
                                                                            the Trustee
                                                                            in writing
                                                                            as to
                                                                            the
                                                                            manner
                                                                            in which
                                                                            to respond
                                                                            to such
                                                                            tender
                                                                            or exchange
                                                                            offer
                                                                            with
                                                                            respect
                                                                            to
                                                                            shares
                                                                            of Company
                                                                            Stock.
                                                                            The Committee
                                                                            shall
                                                                            use its
                                                                            best
                                                                            efforts
                                                                            to timely
                                                                            distribute
                                                                            or cause
                                                                            to be
                                                                            distributed
                                                                            to each
                                                                            Participant
                                                                            such
                                                                            information
                                                                            as
                                                                            will
                                                                            be distributed
                                                                            to stockholders
                                                                            of the
                                                                            Company
                                                                            in connection
                                                                            with
                                                                            any such
                                                                            tender
                                                                            or exchange
                                                                            offer.
                                                                            Upon
                                                                            timely
                                                                            receipt
                                                                            of such
                                                                            instructions,
                                                                            the Trustee
                                                                            shall
                                                                            respond
                                                                            as instructed
                                                                            with
                                                                            respect
                                                                            to shares
                                                                            of Common
                                                                            Stock
                                                                            in the
                                                                            Trust
                                                                            allocated
                                                                            to such
                                                                            Participant’s accounts.
                                                                            If the
                                                                            Trustee
                                                                            shall
                                                                            not receive
                                                                            timely
                                                                            instructions
                                                                            from
                                                                            a Participant
                                                                            as to
                                                                            the manner
                                                                            in which
                                                                            to respond
                                                                            to
                                                                            such
                                                                            a tender
                                                                            or exchange
                                                                            offer,
                                                                            the Trustee
                                                                            shall
                                                                            not tender
                                                                            or exchange
                                                                            any
                                                                            shares
                                                                            of Company
                                                                            Stock
                                                                            held
                                                                            in the
                                                                            Participant’s account.
                                                                            In effecting
                                                                            the
                                                                            foregoing,
                                                                            to the
                                                                            extent
                                                                            possible,
                                                                            the Trustee
                                                                            shall
                                                                            tender
                                                                            or exchange
                                                                            shares
                                                                            of Company
                                                                            Stock
                                                                            entitled
                                                                            to one
                                                                            vote
                                                                            per share
                                                                            prior
                                                                            to shares
                                                                            of Company
                                                                            Stock
                                                                            having
                                                                            greater
                                                                            than
                                                                            one vote
                                                                            per share.

                                                                           

                                                                          1.2  Confidentiality.
                                                                            Any
                                                                            instructions
                                                                            received
                                                                            by the
                                                                            Trustee
                                                                            from
                                                                            Participants
                                                                            (or,
                                                                            if applicable,
                                                                            Beneficiaries)
                                                                            pursuant
                                                                            to this
                                                                            Article
                                                                            XI shall
                                                                            be held
                                                                            by the
                                                                            Trustee
                                                                            in
                                                                            strict
                                                                            confidence
                                                                            and no
                                                                            officer
                                                                            or Employee
                                                                            of the
                                                                            Company
                                                                            or an
                                                                            Affiliated
                                                                            Employer
                                                                            shall
                                                                            ask the
                                                                            Trustee
                                                                            to divulge
                                                                            or release
                                                                            such
                                                                            instructions
                                                                            to any
                                                                            officer
                                                                            or Employee
                                                                            of the
                                                                            Company
                                                                            or Affiliated
                                                                            Employer;
                                                                            provided,
                                                                            however,
                                                                            that
                                                                            to the
                                                                            extent
                                                                            necessary
                                                                            for the
                                                                            operation
                                                                            of the
                                                                            Plan,
                                                                            such
                                                                            instructions
                                                                            may be
                                                                            relayed
                                                                            by the
                                                                            Trustee
                                                                            to a
                                                                            recordkeeper,
                                                                            auditor
                                                                            or other
                                                                            person
                                                                            providing
                                                                            services
                                                                            to the
                                                                            Plan
                                                                            if such
                                                                            person
                                                                            (1) is
                                                                            not the
                                                                            Company,
                                                                            an
                                                                            Affiliated
                                                                            Employer
                                                                            or any
                                                                            Employee,
                                                                            officer
                                                                            or director
                                                                            thereof,
                                                                            and (2)
                                                                            agrees
                                                                            not to
                                                                            divulge
                                                                            such
                                                                            directions
                                                                            to any
                                                                            other
                                                                            person,
                                                                            including
                                                                            Employees,
                                                                            officers
                                                                            and directors
                                                                            of the
                                                                            Company
                                                                            and its
                                                                            Affiliated
                                                                            Employers.

                                                                           

                                                                          ARTICLE
                                                                            XII

                                                                          TOP
                                                                            HEAVY
                                                                            PROVISIONS

                                                                          

                                                                            12.1  Applicability. 
                                                                              Notwithstanding
                                                                              any
                                                                              other
                                                                              provisions
                                                                              of
                                                                              the
                                                                              Plan
                                                                              if
                                                                              for
                                                                              any
                                                                              Plan
                                                                              Year
                                                                              the
                                                                              Plan
                                                                              becomes
                                                                              a Top
                                                                              Heavy
                                                                              Plan,
                                                                              the
                                                                              requirements
                                                                              of
                                                                              this
                                                                              Article
                                                                              XII
                                                                              of
                                                                              the
                                                                              Plan
                                                                              shall
                                                                              be
                                                                              applied
                                                                              for
                                                                              such
                                                                              Plan
                                                                              Year.

                                                                             

                                                                            12.2  Definitions. 
                                                                              The
                                                                              following
                                                                              terms
                                                                              shall
                                                                              have
                                                                              the
                                                                              following
                                                                              meanings
                                                                              in
                                                                              the
                                                                              determination
                                                                              of
                                                                              whether
                                                                              or
                                                                              not
                                                                              the
                                                                              Plan
                                                                              is
                                                                              a Top
                                                                              Heavy
                                                                              Plan:

                                                                            

                                                                              
                                                                                	 	
                                                                                        (a)

                                                                                      	
                                                                                        Determination
                                                                                          Date.
                                                                                          The
                                                                                          term
“Determination
                                                                                          Date”
means,
                                                                                          with
                                                                                          respect
                                                                                          to
                                                                                          any
                                                                                          Plan
                                                                                          Year,
                                                                                          the
                                                                                          last
                                                                                          day
                                                                                          of
                                                                                          the
                                                                                          preceding
                                                                                          Plan
                                                                                          Year,
                                                                                          or
                                                                                          in
                                                                                          case
                                                                                          of
                                                                                          the
                                                                                          first
                                                                                          Plan
                                                                                          Year,
                                                                                          the
                                                                                          last
                                                                                          day
                                                                                          of
                                                                                          such
                                                                                          year.

                                                                                      

                                                                              

                                                                               

                                                                              
                                                                                	 	
                                                                                        (b)

                                                                                      	
                                                                                        Employer.
                                                                                          The
                                                                                          Employer
                                                                                          who
                                                                                          adopted
                                                                                          this
                                                                                          Plan
                                                                                          and
                                                                                          any
                                                                                          other
                                                                                          Employer
                                                                                          some
                                                                                          or
                                                                                          all
                                                                                          of
                                                                                          whose
                                                                                          Employees
                                                                                          participate
                                                                                          in
                                                                                          this
                                                                                          Plan
                                                                                          or
                                                                                          in
                                                                                          a
                                                                                          retirement
                                                                                          plan
                                                                                          which
                                                                                          is
                                                                                          aggregated
                                                                                          with
                                                                                          this
                                                                                          Plan
                                                                                          as
                                                                                          part
                                                                                          of
                                                                                          a
                                                                                          permissive
                                                                                          or
                                                                                          required
                                                                                          aggregation
                                                                                          group.

                                                                                      

                                                                              

                                                                               

                                                                              
                                                                                	 	
                                                                                        (c)

                                                                                      	
                                                                                        Employer
                                                                                          Group.
                                                                                          A
                                                                                          group
                                                                                          of
                                                                                          Employers
                                                                                          who,
                                                                                          for
                                                                                          purposes
                                                                                          of
                                                                                          Section
                                                                                          416
                                                                                          of
                                                                                          the
                                                                                          Code,
                                                                                          are
                                                                                          treated
                                                                                          as
                                                                                          a
                                                                                          single
                                                                                          Employer
                                                                                          under
                                                                                          Section
                                                                                          414(b),
                                                                                          (c)
                                                                                          or
                                                                                          (m)
                                                                                          of
                                                                                          the
                                                                                          Code.

                                                                                      

                                                                              

                                                                               

                                                                              
                                                                                	 	
                                                                                        (d)

                                                                                      	
                                                                                        Key
                                                                                          Employee.
                                                                                          Any
                                                                                          Employee
                                                                                          or
                                                                                          former
                                                                                          Employee
                                                                                          (including
                                                                                          any
                                                                                          deceased
                                                                                          Employee)
                                                                                          who
                                                                                          at
                                                                                          any
                                                                                          time
                                                                                          during
                                                                                          the
                                                                                          Plan
                                                                                          Year
                                                                                          that
                                                                                          includes
                                                                                          the
                                                                                          determination
                                                                                          date
                                                                                          was
                                                                                          an
                                                                                          officer
                                                                                          of
                                                                                          the
                                                                                          Employer
                                                                                          having
                                                                                          annual
                                                                                          Compensation
                                                                                          greater
                                                                                          than
                                                                                          $130,000
                                                                                          (as
                                                                                          adjusted
                                                                                          under
                                                                                          Code
                                                                                          Section
                                                                                          416(i)(1)),
                                                                                          a
                                                                                          5-percent
                                                                                          owner
                                                                                          of
                                                                                          the
                                                                                          Employer,
                                                                                          or
                                                                                          a
                                                                                          1-percent
                                                                                          owner
                                                                                          of
                                                                                          the
                                                                                          Employer
                                                                                          having
                                                                                          annual
                                                                                          Compensation
                                                                                          of
                                                                                          more
                                                                                          than
                                                                                          $150,000.
                                                                                          For
                                                                                          this
                                                                                          purpose,
                                                                                          annual
                                                                                          compensation
                                                                                          means
                                                                                          compensation
                                                                                          within
                                                                                          the
                                                                                          meaning
                                                                                          of
                                                                                          Code
                                                                                          Section
                                                                                          415(c)(3).
                                                                                          The
                                                                                          determination
                                                                                          of
                                                                                          who
                                                                                          is
                                                                                          a
                                                                                          Key
                                                                                          Employee
                                                                                          will
                                                                                          be
                                                                                          made
                                                                                          in
                                                                                          accordance
                                                                                          with
                                                                                          Code
                                                                                          Section
                                                                                          416(i)(1)
                                                                                          and
                                                                                          the
                                                                                          applicable
                                                                                          regulations
                                                                                          and
                                                                                          other
                                                                                          guidance
                                                                                          of
                                                                                          general
                                                                                          applicability
                                                                                          issued
                                                                                          thereunder.

                                                                                      

                                                                              

                                                                               

                                                                              
                                                                                	 	
                                                                                        (e)

                                                                                      	
                                                                                        Non-Key
                                                                                          Employee.
                                                                                          Any
                                                                                          Employee
                                                                                          or
                                                                                          former
                                                                                          Employee
                                                                                          (or
                                                                                          Beneficiaries
                                                                                          of
                                                                                          such
                                                                                          Employee)
                                                                                          who
                                                                                          is
                                                                                          not
                                                                                          considered
                                                                                          to
                                                                                          be
                                                                                          a
                                                                                          Key
                                                                                          Employee.

                                                                                      

                                                                              

                                                                               

                                                                              
                                                                                	 	
                                                                                        (f)

                                                                                      	
                                                                                        Permissive
                                                                                          Aggregation
                                                                                          Group.
                                                                                          The
                                                                                          Committee
                                                                                          may
                                                                                          treat
                                                                                          any
                                                                                          plan
                                                                                          not
                                                                                          required
                                                                                          to
                                                                                          be
                                                                                          included
                                                                                          in
                                                                                          the
                                                                                          Required
                                                                                          Aggregation
                                                                                          Group
                                                                                          as
                                                                                          defined
                                                                                          herein
                                                                                          as
                                                                                          being
                                                                                          part
                                                                                          of
                                                                                          such
                                                                                          group
                                                                                          if
                                                                                          the
                                                                                          group
                                                                                          would
                                                                                          continue
                                                                                          to
                                                                                          satisfy
                                                                                          the
                                                                                          requirements
                                                                                          of
                                                                                          Sections
                                                                                          401(a)(4)
                                                                                          and
                                                                                          410
                                                                                          of
                                                                                          the
                                                                                          Code
                                                                                          with
                                                                                          such
                                                                                          plan
                                                                                          being
                                                                                          taken
                                                                                          into
                                                                                          account.

                                                                                      

                                                                              

                                                                               

                                                                              
                                                                                	 	
                                                                                        (g)

                                                                                      	
                                                                                        Required
                                                                                          Aggregation
                                                                                          Group.
                                                                                          (1)
                                                                                          Each
                                                                                          qualified
                                                                                          plan
                                                                                          of
                                                                                          the
                                                                                          Employer
                                                                                          in
                                                                                          which
                                                                                          at
                                                                                          least
                                                                                          one
                                                                                          Key
                                                                                          Employee
                                                                                          participates
                                                                                          or
                                                                                          participated
                                                                                          at
                                                                                          any
                                                                                          time
                                                                                          during
                                                                                          the
                                                                                          determination
                                                                                          period
                                                                                          (regardless
                                                                                          of
                                                                                          whether
                                                                                          the
                                                                                          plan
                                                                                          has
                                                                                          terminated),
                                                                                          and
                                                                                          (2)
                                                                                          any
                                                                                          other
                                                                                          qualified
                                                                                          plan
                                                                                          of
                                                                                          the
                                                                                          Employer
                                                                                          which
                                                                                          enables
                                                                                          a
                                                                                          plan
                                                                                          described
                                                                                          in
                                                                                          (1)
                                                                                          to
                                                                                          meet
                                                                                          the
                                                                                          requirements
                                                                                          of
                                                                                          Section
                                                                                          401(a)(4)
                                                                                          or
                                                                                          410
                                                                                          of
                                                                                          the
                                                                                          Code.

                                                                                      

                                                                              

                                                                               

                                                                              
                                                                                	 	
                                                                                        (h)

                                                                                      	
                                                                                        Top
                                                                                          Heavy
                                                                                          Plan.
                                                                                          For
                                                                                          any
                                                                                          Plan
                                                                                          Year,
                                                                                          this
                                                                                          Plan
                                                                                          is
                                                                                          Top
                                                                                          Heavy
                                                                                          if
                                                                                          any
                                                                                          of
                                                                                          the
                                                                                          following
                                                                                          conditions
                                                                                          exist:

                                                                                      

                                                                              

                                                                               

                                                                              
                                                                                	 	
                                                                                        (1)

                                                                                      	
                                                                                        If
                                                                                          the
                                                                                          Top
                                                                                          Heavy
                                                                                          Ratio
                                                                                          for
                                                                                          this
                                                                                          Plan
                                                                                          exceeds
                                                                                          60%,
                                                                                          provided
                                                                                          this
                                                                                          Plan
                                                                                          is
                                                                                          not
                                                                                          part
                                                                                          of
                                                                                          any
                                                                                          required
                                                                                          aggregation
                                                                                          group
                                                                                          or
                                                                                          permissive
                                                                                          aggregation
                                                                                          group
                                                                                          of
                                                                                          plans.

                                                                                      

                                                                              

                                                                               

                                                                              
                                                                                	 	
                                                                                        (2)

                                                                                      	
                                                                                        If
                                                                                          this
                                                                                          Plan
                                                                                          is
                                                                                          a
                                                                                          part
                                                                                          of
                                                                                          a
                                                                                          required
                                                                                          aggregation
                                                                                          group
                                                                                          of
                                                                                          plans,
                                                                                          but
                                                                                          not
                                                                                          part
                                                                                          of
                                                                                          a
                                                                                          permissive
                                                                                          aggregation
                                                                                          group,
                                                                                          the
                                                                                          Top
                                                                                          Heavy
                                                                                          Ratio
                                                                                          for
                                                                                          the
                                                                                          group
                                                                                          of
                                                                                          plans
                                                                                          exceeds
                                                                                          60%.

                                                                                      

                                                                              

                                                                               

                                                                              
                                                                                	 	
                                                                                        (3)

                                                                                      	
                                                                                        If
                                                                                          this
                                                                                          Plan
                                                                                          is
                                                                                          a
                                                                                          part
                                                                                          of
                                                                                          a
                                                                                          required
                                                                                          aggregation
                                                                                          group
                                                                                          and
                                                                                          part
                                                                                          of
                                                                                          a
                                                                                          permissive
                                                                                          aggregation
                                                                                          group
                                                                                          of
                                                                                          plans
                                                                                          and
                                                                                          the
                                                                                          Top
                                                                                          Heavy
                                                                                          Ratio
                                                                                          for
                                                                                          the
                                                                                          entire
                                                                                          group
                                                                                          exceeds
                                                                                          60%.

                                                                                      

                                                                              

                                                                              

                                                                                
                                                                                  	 	
                                                                                          (i)

                                                                                        	
                                                                                          Top
                                                                                            Heavy
                                                                                            Ratio.

                                                                                        

                                                                                

                                                                                 

                                                                                
                                                                                  	 	
                                                                                          (1)

                                                                                        	
                                                                                          If
                                                                                            the
                                                                                            Employer
                                                                                            maintains
                                                                                            one
                                                                                            or
                                                                                            more
                                                                                            defined
                                                                                            contribution
                                                                                            plans
                                                                                            (including
                                                                                            any
                                                                                            Simplified
                                                                                            Employee
                                                                                            Pension
                                                                                            Plan)
                                                                                            and
                                                                                            the
                                                                                            Employer
                                                                                            has
                                                                                            not
                                                                                            maintained
                                                                                            any
                                                                                            defined
                                                                                            benefit
                                                                                            plan
                                                                                            which
                                                                                            during
                                                                                            the
                                                                                            5-year
                                                                                            period
                                                                                            ending
                                                                                            on
                                                                                            the
                                                                                            determination
                                                                                            date(s)
                                                                                            has
                                                                                            or
                                                                                            has
                                                                                            had
                                                                                            Accrued
                                                                                            Benefits,
                                                                                            the
                                                                                            Top
                                                                                            Heavy
                                                                                            Ratio
                                                                                            for
                                                                                            this
                                                                                            Plan
                                                                                            alone
                                                                                            or
                                                                                            for
                                                                                            the
                                                                                            required
                                                                                            or
                                                                                            permissible
                                                                                            aggregation
                                                                                            group
                                                                                            as
                                                                                            appropriate
                                                                                            is
                                                                                            a
                                                                                            fraction,
                                                                                            the
                                                                                            numerator
                                                                                            of
                                                                                            which
                                                                                            is
                                                                                            the
                                                                                            sum
                                                                                            of
                                                                                            the
                                                                                            account
                                                                                            balances
                                                                                            of
                                                                                            all
                                                                                            Key
                                                                                            Employees
                                                                                            as
                                                                                            of
                                                                                            the
                                                                                            determination
                                                                                            date(s)
                                                                                            and
                                                                                            the
                                                                                            denominator
                                                                                            of
                                                                                            which
                                                                                            is
                                                                                            the
                                                                                            sum
                                                                                            of
                                                                                            all
                                                                                            account
                                                                                            balances
                                                                                            for
                                                                                            all
                                                                                            Participants,
                                                                                            both
                                                                                            computed
                                                                                            in
                                                                                            accordance
                                                                                            with
                                                                                            Section
                                                                                            416
                                                                                            of
                                                                                            the
                                                                                            Code
                                                                                            and
                                                                                            the
                                                                                            regulations
                                                                                            thereunder.
                                                                                            Both
                                                                                            the
                                                                                            numerator
                                                                                            and
                                                                                            denominator
                                                                                            of
                                                                                            the
                                                                                            Top
                                                                                            Heavy
                                                                                            Ratio
                                                                                            are
                                                                                            increased
                                                                                            to
                                                                                            reflect
                                                                                            any
                                                                                            contribution
                                                                                            not
                                                                                            actually
                                                                                            made
                                                                                            as
                                                                                            of
                                                                                            the
                                                                                            determination
                                                                                            date,
                                                                                            but
                                                                                            which
                                                                                            is
                                                                                            required
                                                                                            to
                                                                                            be
                                                                                            taken
                                                                                            into
                                                                                            account
                                                                                            on
                                                                                            that
                                                                                            date
                                                                                            under
                                                                                            Section
                                                                                            416
                                                                                            of
                                                                                            the
                                                                                            Code
                                                                                            and
                                                                                            the
                                                                                            regulations
                                                                                            thereunder.
                                                                                            

                                                                                        

                                                                                

                                                                                 

                                                                                The
                                                                                  present
                                                                                  value
                                                                                  of
                                                                                  accrued
                                                                                  benefits
                                                                                  and
                                                                                  the
                                                                                  sum
                                                                                  of
                                                                                  all
                                                                                  account
                                                                                  balances
                                                                                  shall
                                                                                  be
                                                                                  increased
                                                                                  by
                                                                                  the
                                                                                  aggregate
                                                                                  distribution
                                                                                  made
                                                                                  with
                                                                                  respect
                                                                                  to
                                                                                  an
                                                                                  Employer
                                                                                  in
                                                                                  the
                                                                                  1-year
                                                                                  period
                                                                                  ending
                                                                                  on
                                                                                  the
                                                                                  determination
                                                                                  date;
                                                                                  however,
                                                                                  substitute
“5-year
                                                                                  period”
for
“1-year
                                                                                  period”
in
                                                                                  the
                                                                                  case
                                                                                  of
                                                                                  any
                                                                                  distribution
                                                                                  by
                                                                                  reason
                                                                                  other
                                                                                  than
                                                                                  severance
                                                                                  from
                                                                                  employment,
                                                                                  death,
                                                                                  or
                                                                                  disability).

                                                                                 

                                                                                
                                                                                  	 	
                                                                                          (2)

                                                                                        	
                                                                                          If
                                                                                            the
                                                                                            Employer
                                                                                            maintains
                                                                                            one
                                                                                            or
                                                                                            more
                                                                                            defined
                                                                                            contribution
                                                                                            plans
                                                                                            (including
                                                                                            any
                                                                                            Simplified
                                                                                            Employee
                                                                                            Pension
                                                                                            Plan)
                                                                                            and
                                                                                            the
                                                                                            Employer
                                                                                            maintains
                                                                                            or
                                                                                            has
                                                                                            maintained
                                                                                            one
                                                                                            or
                                                                                            more
                                                                                            defined
                                                                                            benefit
                                                                                            plans
                                                                                            which
                                                                                            during
                                                                                            the
                                                                                            5-year
                                                                                            period
                                                                                            ending
                                                                                            on
                                                                                            the
                                                                                            determination
                                                                                            date(s)
                                                                                            has
                                                                                            or
                                                                                            has
                                                                                            had
                                                                                            any
                                                                                            accrued
                                                                                            benefits,
                                                                                            the
                                                                                            Top
                                                                                            Heavy
                                                                                            Ratio
                                                                                            for
                                                                                            any
                                                                                            required
                                                                                            or
                                                                                            permissive
                                                                                            aggregation
                                                                                            group
                                                                                            as
                                                                                            appropriate
                                                                                            is
                                                                                            a
                                                                                            fraction,
                                                                                            the
                                                                                            numerator
                                                                                            of
                                                                                            which
                                                                                            is
                                                                                            the
                                                                                            sum
                                                                                            of
                                                                                            account
                                                                                            balances
                                                                                            under
                                                                                            the
                                                                                            aggregated
                                                                                            defined
                                                                                            contribution
                                                                                            plan
                                                                                            or
                                                                                            plans
                                                                                            for
                                                                                            all
                                                                                            Key
                                                                                            Employees,
                                                                                            determined
                                                                                            in
                                                                                            accordance
                                                                                            with
                                                                                            paragraph
                                                                                            (1)
                                                                                            above,
                                                                                            and
                                                                                            the
                                                                                            present
                                                                                            value
                                                                                            of
                                                                                            accrued
                                                                                            benefits
                                                                                            under
                                                                                            the
                                                                                            aggregated
                                                                                            defined
                                                                                            benefit
                                                                                            plan
                                                                                            or
                                                                                            plans
                                                                                            for
                                                                                            all
                                                                                            Key
                                                                                            Employees
                                                                                            as
                                                                                            of
                                                                                            the
                                                                                            determination
                                                                                            date,
                                                                                            and
                                                                                            the
                                                                                            denominator
                                                                                            of
                                                                                            which
                                                                                            is
                                                                                            the
                                                                                            sum
                                                                                            of
                                                                                            the
                                                                                            account
                                                                                            balances
                                                                                            under
                                                                                            the
                                                                                            aggregated
                                                                                            defined
                                                                                            contribution
                                                                                            plan
                                                                                            or
                                                                                            plans
                                                                                            for
                                                                                            all
                                                                                            Participants,
                                                                                            determined
                                                                                            in
                                                                                            accordance
                                                                                            with
                                                                                            paragraph
                                                                                            (1)
                                                                                            above,
                                                                                            and
                                                                                            the
                                                                                            present
                                                                                            value
                                                                                            of
                                                                                            accrued
                                                                                            benefits
                                                                                            under
                                                                                            the
                                                                                            defined
                                                                                            benefit
                                                                                            plan
                                                                                            or
                                                                                            plans
                                                                                            for
                                                                                            all
                                                                                            Participants,
                                                                                            determined
                                                                                            in
                                                                                            accordance
                                                                                            with
                                                                                            paragraph
                                                                                            (1)
                                                                                            above,
                                                                                            and
                                                                                            the
                                                                                            present
                                                                                            value
                                                                                            of
                                                                                            accrued
                                                                                            benefits
                                                                                            under
                                                                                            the
                                                                                            defined
                                                                                            benefit
                                                                                            plan
                                                                                            or
                                                                                            plans
                                                                                            for
                                                                                            all
                                                                                            Participants
                                                                                            as
                                                                                            of
                                                                                            the
                                                                                            determination
                                                                                            date,
                                                                                            all
                                                                                            determined
                                                                                            in
                                                                                            accordance
                                                                                            with
                                                                                            Section
                                                                                            416
                                                                                            of
                                                                                            the
                                                                                            Code
                                                                                            and
                                                                                            the
                                                                                            regulations
                                                                                            thereunder.
                                                                                            

                                                                                        

                                                                                

                                                                                 

                                                                                The
                                                                                  accrued
                                                                                  benefit
                                                                                  of
                                                                                  a
                                                                                  Non-Key
                                                                                  Employee
                                                                                  under
                                                                                  any
                                                                                  defined
                                                                                  benefit
                                                                                  plan
                                                                                  shall
                                                                                  be
                                                                                  determined
                                                                                  under
                                                                                  the
                                                                                  method,
                                                                                  if
                                                                                  any,
                                                                                  that
                                                                                  uniformly
                                                                                  applies
                                                                                  for
                                                                                  accrual
                                                                                  purposes
                                                                                  under
                                                                                  all
                                                                                  defined
                                                                                  benefit
                                                                                  plans
                                                                                  maintained
                                                                                  by
                                                                                  the
                                                                                  Employer,
                                                                                  or
                                                                                  if
                                                                                  there
                                                                                  is
                                                                                  no
                                                                                  such
                                                                                  method,
                                                                                  as
                                                                                  if
                                                                                  such
                                                                                  benefit
                                                                                  accrued
                                                                                  not
                                                                                  more
                                                                                  rapidly
                                                                                  than
                                                                                  the
                                                                                  slowest
                                                                                  accrual
                                                                                  rate
                                                                                  permitted
                                                                                  under
                                                                                  Section
                                                                                  411(b)(1)(C)
                                                                                  of
                                                                                  the
                                                                                  Code.

                                                                                 

                                                                                
                                                                                  	 	
                                                                                          (3)

                                                                                        	
                                                                                          For
                                                                                            purposes
                                                                                            of
                                                                                            (1)
                                                                                            and
                                                                                            (2)
                                                                                            above,
                                                                                            the
                                                                                            value
                                                                                            of
                                                                                            account
                                                                                            balances
                                                                                            and
                                                                                            the
                                                                                            present
                                                                                            value
                                                                                            of
                                                                                            accrued
                                                                                            benefits
                                                                                            will
                                                                                            be
                                                                                            determined
                                                                                            as
                                                                                            of
                                                                                            the
                                                                                            most
                                                                                            recent
                                                                                            Valuation
                                                                                            Date
                                                                                            that
                                                                                            falls
                                                                                            within
                                                                                            or
                                                                                            ends
                                                                                            with
                                                                                            the
                                                                                            twelve
                                                                                            (12)
                                                                                            month
                                                                                            period
                                                                                            ending
                                                                                            on
                                                                                            the
                                                                                            determination
                                                                                            date,
                                                                                            except
                                                                                            as
                                                                                            provided
                                                                                            in
                                                                                            Section
                                                                                            416
                                                                                            of
                                                                                            the
                                                                                            Code
                                                                                            and
                                                                                            the
                                                                                            regulations
                                                                                            thereunder
                                                                                            for
                                                                                            the
                                                                                            first
                                                                                            and
                                                                                            second
                                                                                            plan
                                                                                            years
                                                                                            of
                                                                                            a
                                                                                            defined
                                                                                            benefit
                                                                                            plan.
                                                                                            The
                                                                                            account
                                                                                            balances
                                                                                            and
                                                                                            accrued
                                                                                            benefits
                                                                                            of
                                                                                            a
                                                                                            Participant
                                                                                            (i)
                                                                                            who
                                                                                            is
                                                                                            a
                                                                                            Non-Key
                                                                                            Employee
                                                                                            but
                                                                                            who
                                                                                            was
                                                                                            a
                                                                                            Key
                                                                                            Employee
                                                                                            in
                                                                                            a
                                                                                            prior
                                                                                            year,
                                                                                            any
                                                                                            accrued
                                                                                            benefit
                                                                                            for
                                                                                            such
                                                                                            employee
                                                                                            (and
                                                                                            the
                                                                                            account
                                                                                            of
                                                                                            such
                                                                                            employee
                                                                                            shall
                                                                                            be
                                                                                            disregarded).

                                                                                        

                                                                                

                                                                                 

                                                                                
                                                                                  	 	
                                                                                          (4)

                                                                                        	
                                                                                          The
                                                                                            accrued
                                                                                            benefits
                                                                                            and
                                                                                            accounts
                                                                                            of
                                                                                            any
                                                                                            individual
                                                                                            who
                                                                                            has
                                                                                            not
                                                                                            performed
                                                                                            services
                                                                                            during
                                                                                            the
                                                                                            1-year
                                                                                            period
                                                                                            ending
                                                                                            on
                                                                                            the
                                                                                            determination
                                                                                            date
                                                                                            shall
                                                                                            not
                                                                                            be
                                                                                            taken
                                                                                            into
                                                                                            account.
                                                                                            The
                                                                                            calculation
                                                                                            of
                                                                                            the
                                                                                            Top
                                                                                            Heavy
                                                                                            Ratio,
                                                                                            and
                                                                                            the
                                                                                            extent
                                                                                            to
                                                                                            which
                                                                                            distributions,
                                                                                            rollovers
                                                                                            and
                                                                                            transfers
                                                                                            are
                                                                                            taken
                                                                                            into
                                                                                            account
                                                                                            will
                                                                                            be
                                                                                            made
                                                                                            in
                                                                                            accordance
                                                                                            with
                                                                                            Section
                                                                                            416
                                                                                            of
                                                                                            the
                                                                                            Code
                                                                                            and
                                                                                            the
                                                                                            regulations
                                                                                            thereunder.
                                                                                            Deductible
                                                                                            employee
                                                                                            contributions
                                                                                            will
                                                                                            not
                                                                                            be
                                                                                            taken
                                                                                            into
                                                                                            account
                                                                                            for
                                                                                            purposes
                                                                                            of
                                                                                            computing
                                                                                            the
                                                                                            Top
                                                                                            Heavy
                                                                                            Ratio.
                                                                                            When
                                                                                            aggregating
                                                                                            plans,
                                                                                            the
                                                                                            value
                                                                                            of
                                                                                            account
                                                                                            balances
                                                                                            and
                                                                                            accrued
                                                                                            benefits
                                                                                            will
                                                                                            be
                                                                                            calculated
                                                                                            with
                                                                                            reference
                                                                                            to
                                                                                            the
                                                                                            determination
                                                                                            dates
                                                                                            that
                                                                                            fall
                                                                                            within
                                                                                            the
                                                                                            same
                                                                                            calendar
                                                                                            year.

                                                                                        

                                                                                

                                                                                

                                                                                  
                                                                                    	 	
                                                                                            (j)

                                                                                          	
                                                                                            Valuation
                                                                                              Date.
                                                                                              December
                                                                                              31
                                                                                              in
                                                                                              each
                                                                                              Plan
                                                                                              Year,
                                                                                              the
                                                                                              date
                                                                                              as
                                                                                              of
                                                                                              which
                                                                                              account
                                                                                              balances
                                                                                              or
                                                                                              Accrued
                                                                                              Benefits
                                                                                              are
                                                                                              valued
                                                                                              for
                                                                                              purposes
                                                                                              of
                                                                                              calculating
                                                                                              the
                                                                                              Top
                                                                                              Heavy
                                                                                              Ratio.

                                                                                          

                                                                                  

                                                                                   

                                                                                  
                                                                                    	 	
                                                                                            (k)

                                                                                          	
                                                                                            Present
                                                                                              Value.
                                                                                              For
                                                                                              purposes
                                                                                              of
                                                                                              establishing
                                                                                              the
                                                                                              present
                                                                                              value
                                                                                              of
                                                                                              accrued
                                                                                              benefits
                                                                                              under
                                                                                              defined
                                                                                              benefit
                                                                                              plans
                                                                                              required
                                                                                              to
                                                                                              be
                                                                                              aggregated
                                                                                              with
                                                                                              this
                                                                                              Plan
                                                                                              to
                                                                                              compute
                                                                                              the
                                                                                              Top
                                                                                              Heavy
                                                                                              Ratio,
                                                                                              any
                                                                                              benefit
                                                                                              shall
                                                                                              be
                                                                                              discounted
                                                                                              only
                                                                                              for
                                                                                              mortality
                                                                                              and
                                                                                              interest
                                                                                              based
                                                                                              on
                                                                                              the
                                                                                              mortality
                                                                                              assumptions
                                                                                              and
                                                                                              interest
                                                                                              rate
                                                                                              specified
                                                                                              in
                                                                                              such
                                                                                              defined
                                                                                              benefit
                                                                                              plan.

                                                                                          

                                                                                  

                                                                                   

                                                                                  
                                                                                    	 	
                                                                                            (l)

                                                                                          	
                                                                                            Alternative
                                                                                              Methods
                                                                                              of
                                                                                              Meeting
                                                                                              Top-Heavy
                                                                                              Requirements.
                                                                                              Effective
                                                                                              January
                                                                                              1,
                                                                                              2008,
                                                                                              the
                                                                                              term
                                                                                              Top
                                                                                              Heavy
                                                                                              Plan
                                                                                              shall
                                                                                              not
                                                                                              include
                                                                                              a
                                                                                              plan
                                                                                              which
                                                                                              consists
                                                                                              solely
                                                                                              of __.
                                                                                              

                                                                                          

                                                                                  

                                                                                  

                                                                                    
                                                                                      	 	
                                                                                              (1)

                                                                                            	
                                                                                              a
                                                                                                cash
                                                                                                or
                                                                                                deferred
                                                                                                arrangement
                                                                                                which
                                                                                                meets
                                                                                                the
                                                                                                requirements
                                                                                                of
                                                                                                Section
                                                                                                401(k)(12)
                                                                                                or
                                                                                                401(k)(13),
                                                                                                and

                                                                                            

                                                                                    

                                                                                     

                                                                                    
                                                                                      	 	
                                                                                              (2)

                                                                                            	
                                                                                              matching
                                                                                                contributions
                                                                                                with
                                                                                                respect
                                                                                                to
                                                                                                which
                                                                                                the
                                                                                                requirements
                                                                                                of
                                                                                                Section
                                                                                                401(m)(11)
                                                                                                or
                                                                                                401(m)(12)
                                                                                                are
                                                                                                met.

                                                                                            

                                                                                    

                                                                                     

                                                                                    If,
                                                                                      but
                                                                                      for
                                                                                      this
                                                                                      paragraph,
                                                                                      a
                                                                                      plan
                                                                                      would
                                                                                      be
                                                                                      treated
                                                                                      as
                                                                                      a
                                                                                      Top-Heavy
                                                                                      Plan
                                                                                      because
                                                                                      it
                                                                                      is
                                                                                      a
                                                                                      member
                                                                                      of
                                                                                      an
                                                                                      aggregation
                                                                                      group
                                                                                      which
                                                                                      is
                                                                                      a
                                                                                      top-heavy
                                                                                      group,
                                                                                      contributions
                                                                                      under
                                                                                      the
                                                                                      Plan
                                                                                      may
                                                                                      be
                                                                                      taken
                                                                                      into
                                                                                      account
                                                                                      in
                                                                                      determining
                                                                                      whether
                                                                                      any
                                                                                      other
                                                                                      plan
                                                                                      in
                                                                                      the
                                                                                      group
                                                                                      has
                                                                                      provided
                                                                                      the
                                                                                      minimum
                                                                                      benefit
                                                                                      described
                                                                                      in
                                                                                      Section
                                                                                      12.3
                                                                                      of
                                                                                      the
                                                                                      Plan.
                                                                                      

                                                                                    

                                                                                      12.3   Minimum
                                                                                        Allocation.

                                                                                       

                                                                                      

                                                                                        
                                                                                          	 	
                                                                                                  (a)

                                                                                                	
                                                                                                  Except
                                                                                                    as
                                                                                                    otherwise
                                                                                                    provided
                                                                                                    in
                                                                                                    (c)
                                                                                                    and
                                                                                                    (d)
                                                                                                    below,
                                                                                                    the
                                                                                                    Employer
                                                                                                    contributions
                                                                                                    and
                                                                                                    forfeitures
                                                                                                    allocated
                                                                                                    on
                                                                                                    behalf
                                                                                                    of
                                                                                                    any
                                                                                                    Participant
                                                                                                    who
                                                                                                    is
                                                                                                    not
                                                                                                    a
                                                                                                    Key
                                                                                                    Employee
                                                                                                    shall
                                                                                                    not
                                                                                                    be
                                                                                                    less
                                                                                                    than
                                                                                                    the
                                                                                                    lesser
                                                                                                    of
                                                                                                    three
                                                                                                    percent
                                                                                                    of
                                                                                                    such
                                                                                                    Participant’s
                                                                                                    Total
                                                                                                    Compensation
                                                                                                    or
                                                                                                    in
                                                                                                    the
                                                                                                    case
                                                                                                    where
                                                                                                    the
                                                                                                    Employer
                                                                                                    has
                                                                                                    no
                                                                                                    defined
                                                                                                    benefit
                                                                                                    plan
                                                                                                    which
                                                                                                    designates
                                                                                                    this
                                                                                                    Plan
                                                                                                    to
                                                                                                    satisfy
                                                                                                    Section
                                                                                                    401
                                                                                                    of
                                                                                                    the
                                                                                                    Code,
                                                                                                    the
                                                                                                    largest
                                                                                                    percentage
                                                                                                    of
                                                                                                    Employer
                                                                                                    contributions
                                                                                                    (including
                                                                                                    any
                                                                                                    salary
                                                                                                    deferral
                                                                                                    contribution)
                                                                                                    and
                                                                                                    forfeitures,
                                                                                                    as
                                                                                                    a
                                                                                                    percentage
                                                                                                    of
                                                                                                    the
                                                                                                    Key
                                                                                                    Employee’s
                                                                                                    Total
                                                                                                    Compensation,
                                                                                                    as
                                                                                                    limited
                                                                                                    by
                                                                                                    Section
                                                                                                    401(a)(l7)
                                                                                                    of
                                                                                                    the
                                                                                                    Code,
                                                                                                    allocated
                                                                                                    on
                                                                                                    behalf
                                                                                                    of
                                                                                                    any
                                                                                                    Key
                                                                                                    Employee
                                                                                                    for
                                                                                                    that
                                                                                                    year.
                                                                                                    The
                                                                                                    minimum
                                                                                                    allocation
                                                                                                    is
                                                                                                    determined
                                                                                                    without
                                                                                                    regard
                                                                                                    to
                                                                                                    any
                                                                                                    Social
                                                                                                    Security
                                                                                                    contribution.
                                                                                                    This
                                                                                                    minimum
                                                                                                    allocation
                                                                                                    shall
                                                                                                    be
                                                                                                    made
                                                                                                    even
                                                                                                    though
                                                                                                    under
                                                                                                    other
                                                                                                    plan
                                                                                                    provisions,
                                                                                                    the
                                                                                                    Participant
                                                                                                    would
                                                                                                    not
                                                                                                    otherwise
                                                                                                    be
                                                                                                    entitled
                                                                                                    to
                                                                                                    receive
                                                                                                    an
                                                                                                    allocation,
                                                                                                    would
                                                                                                    have
                                                                                                    received
                                                                                                    a
                                                                                                    lesser
                                                                                                    allocation
                                                                                                    for
                                                                                                    the
                                                                                                    year
                                                                                                    because
                                                                                                    of
                                                                                                    (1)
                                                                                                    the
                                                                                                    Participant’s
                                                                                                    failure
                                                                                                    to
                                                                                                    complete
                                                                                                    1,000
                                                                                                    hours
                                                                                                    of
                                                                                                    service
                                                                                                    (or
                                                                                                    any
                                                                                                    equivalent
                                                                                                    provided
                                                                                                    in
                                                                                                    the
                                                                                                    Plan),
                                                                                                    (2)
                                                                                                    the
                                                                                                    Participant’s
                                                                                                    failure
                                                                                                    to
                                                                                                    make
                                                                                                    mandatory
                                                                                                    employee
                                                                                                    contributions
                                                                                                    (including
                                                                                                    Elective
                                                                                                    Deferrals)
                                                                                                    to
                                                                                                    the
                                                                                                    Plan,
                                                                                                    or
                                                                                                    (3)
                                                                                                    Compensation
                                                                                                    less
                                                                                                    than
                                                                                                    a
                                                                                                    stated
                                                                                                    amount.
                                                                                                    

                                                                                                

                                                                                        

                                                                                         

                                                                                        Matching
                                                                                          Contributions
                                                                                          shall
                                                                                          be
                                                                                          taken
                                                                                          into
                                                                                          account
                                                                                          for
                                                                                          purposes
                                                                                          of
                                                                                          satisfying
                                                                                          the
                                                                                          minimum
                                                                                          contribution
                                                                                          requirements
                                                                                          of
                                                                                          Code
                                                                                          Section
                                                                                          416(c)(2)
                                                                                          and
                                                                                          the
                                                                                          Plan.
                                                                                          The
                                                                                          preceding
                                                                                          sentence
                                                                                          shall
                                                                                          apply
                                                                                          with
                                                                                          respect
                                                                                          to
                                                                                          matching
                                                                                          contributions
                                                                                          under
                                                                                          the
                                                                                          Plan
                                                                                          or,
                                                                                          if
                                                                                          the
                                                                                          Plan
                                                                                          provides
                                                                                          that
                                                                                          the
                                                                                          minimum
                                                                                          contribution
                                                                                          requirement
                                                                                          shall
                                                                                          be
                                                                                          met
                                                                                          in
                                                                                          another
                                                                                          plan,
                                                                                          such
                                                                                          other
                                                                                          plan.
                                                                                          Matching
                                                                                          Contributions
                                                                                          that
                                                                                          are
                                                                                          used
                                                                                          to
                                                                                          satisfy
                                                                                          the
                                                                                          minimum
                                                                                          contribution
                                                                                          requirements
                                                                                          shall
                                                                                          be
                                                                                          treated
                                                                                          as
                                                                                          matching
                                                                                          contributions
                                                                                          for
                                                                                          purposes
                                                                                          of
                                                                                          the
                                                                                          actual
                                                                                          contribution
                                                                                          percentage
                                                                                          test
                                                                                          and
                                                                                          other
                                                                                          requirements
                                                                                          of
                                                                                          Code
                                                                                          Section
                                                                                          401(m).
                                                                                          Elective
                                                                                          deferrals
                                                                                          may
                                                                                          not
                                                                                          be
                                                                                          taken
                                                                                          into
                                                                                          account
                                                                                          for
                                                                                          the
                                                                                          purpose
                                                                                          of
                                                                                          satisfying
                                                                                          the
                                                                                          minimum
                                                                                          Top
                                                                                          Heavy
                                                                                          contribution
                                                                                          requirements.
                                                                                          Catch-Up
                                                                                          Contributions
                                                                                          for
                                                                                          the
                                                                                          current
                                                                                          year
                                                                                          are
                                                                                          not
                                                                                          counted
                                                                                          as
                                                                                          Key
                                                                                          Employee
                                                                                          contributions,
                                                                                          but
                                                                                          prior-year
                                                                                          Catch-Up
                                                                                          Contributions
                                                                                          are
                                                                                          used
                                                                                          to
                                                                                          determine
                                                                                          whether
                                                                                          the
                                                                                          Plan
                                                                                          is
                                                                                          Top
                                                                                          Heavy.

                                                                                         

                                                                                        
                                                                                          	 	
                                                                                                  (b)

                                                                                                	
                                                                                                  For
                                                                                                    purposes
                                                                                                    of
                                                                                                    computing
                                                                                                    the
                                                                                                    minimum
                                                                                                    allocation,
                                                                                                    Compensation
                                                                                                    will
                                                                                                    mean
                                                                                                    Total
                                                                                                    Compensation,
                                                                                                    as
                                                                                                    limited
                                                                                                    by
                                                                                                    Section
                                                                                                    40l(a)(17)
                                                                                                    of
                                                                                                    the
                                                                                                    Code.

                                                                                                

                                                                                        

                                                                                         

                                                                                        
                                                                                          	 	
                                                                                                  (c)

                                                                                                	
                                                                                                  The
                                                                                                    provision
                                                                                                    in
                                                                                                    (a)
                                                                                                    above
                                                                                                    shall
                                                                                                    not
                                                                                                    apply
                                                                                                    to
                                                                                                    any
                                                                                                    Participant
                                                                                                    who
                                                                                                    was
                                                                                                    not
                                                                                                    employed
                                                                                                    by
                                                                                                    the
                                                                                                    Employer
                                                                                                    on
                                                                                                    the
                                                                                                    last
                                                                                                    day
                                                                                                    of
                                                                                                    the
                                                                                                    Plan
                                                                                                    Year.

                                                                                                

                                                                                        

                                                                                         

                                                                                        
                                                                                          	 	
                                                                                                  (d)

                                                                                                	
                                                                                                  If
                                                                                                    an
                                                                                                    Employee
                                                                                                    participates
                                                                                                    in
                                                                                                    both
                                                                                                    a
                                                                                                    defined
                                                                                                    benefit
                                                                                                    plan
                                                                                                    and
                                                                                                    a
                                                                                                    defined
                                                                                                    contribution
                                                                                                    plan,
                                                                                                    the
                                                                                                    minimum
                                                                                                    benefit
                                                                                                    shall
                                                                                                    be
                                                                                                    provided
                                                                                                    under
                                                                                                    the
                                                                                                    defined
                                                                                                    benefit
                                                                                                    plan.
                                                                                                    If
                                                                                                    an
                                                                                                    Employee
                                                                                                    participates
                                                                                                    in
                                                                                                    another
                                                                                                    defined
                                                                                                    contribution
                                                                                                    plan,
                                                                                                    the
                                                                                                    minimum
                                                                                                    benefit
                                                                                                    shall
                                                                                                    be
                                                                                                    provided
                                                                                                    under
                                                                                                    the
                                                                                                    other
                                                                                                    defined
                                                                                                    contribution
                                                                                                    plan.

                                                                                                

                                                                                        

                                                                                        

                                                                                          12.4  
Vesting. 
                                                                                            For
                                                                                            any
                                                                                            Plan
                                                                                            Year
                                                                                            in
                                                                                            which
                                                                                            this
                                                                                            Plan
                                                                                            is
                                                                                            Top
                                                                                            Heavy,
                                                                                            each
                                                                                            Employee’s
                                                                                            Interest
                                                                                            in
                                                                                            his
                                                                                            or
                                                                                            her
                                                                                            Accrued
                                                                                            Benefit
                                                                                            attributable
                                                                                            to
                                                                                            Employer
                                                                                            contributions
                                                                                            shall
                                                                                            be
                                                                                            fully
                                                                                            vested
                                                                                            and
                                                                                            nonforfeitable.
                                                                                            The
                                                                                            minimum
                                                                                            vesting
                                                                                            schedule
                                                                                            applies
                                                                                            to
                                                                                            all
                                                                                            benefits
                                                                                            accrued
                                                                                            as
                                                                                            of
                                                                                            the
                                                                                            date
                                                                                            the
                                                                                            Plan
                                                                                            became
                                                                                            Top
                                                                                            Heavy
                                                                                            and
                                                                                            to
                                                                                            all
                                                                                            benefits
                                                                                            accrued
                                                                                            thereafter
                                                                                            to
                                                                                            which
                                                                                            this
                                                                                            Article
                                                                                            applies.
                                                                                            Further,
                                                                                            no
                                                                                            decrease
                                                                                            in
                                                                                            a
                                                                                            Participant’s
                                                                                            non
                                                                                            forfeitable
                                                                                            percentage
                                                                                            may
                                                                                            occur
                                                                                            in
                                                                                            the
                                                                                            event
                                                                                            the
                                                                                            Plan’s
                                                                                            status
                                                                                            as
                                                                                            Top
                                                                                            Heavy
                                                                                            changes
                                                                                            for
                                                                                            any
                                                                                            Plan
                                                                                            Year.
                                                                                            However,
                                                                                            this
                                                                                            Section
                                                                                            does
                                                                                            not
                                                                                            apply
                                                                                            to
                                                                                            the
                                                                                            account
                                                                                            balances
                                                                                            of
                                                                                            any
                                                                                            Employee
                                                                                            who
                                                                                            does
                                                                                            not
                                                                                            have
                                                                                            an
                                                                                            hour
                                                                                            of
                                                                                            service
                                                                                            after
                                                                                            the
                                                                                            Plan
                                                                                            has
                                                                                            initially
                                                                                            become
                                                                                            Top
                                                                                            Heavy
                                                                                            and
                                                                                            such
                                                                                            Employee’s
                                                                                            Accrued
                                                                                            Benefit
                                                                                            attributable
                                                                                            to
                                                                                            Employer
                                                                                            contributions
                                                                                            and
                                                                                            forfeitures
                                                                                            will
                                                                                            be
                                                                                            determined
                                                                                            without
                                                                                            regard
                                                                                            to
                                                                                            this
                                                                                            Section.

                                                                                           

                                                                                          

                                                                                            ARTICLE
                                                                                              XIII

                                                                                            ADMINISTRATION
                                                                                              OF
                                                                                              THE
                                                                                              PLAN 

                                                                                            

                                                                                              13.1   Plan
                                                                                                Committee. The
                                                                                                CenturyTel
                                                                                                Retirement
                                                                                                Committee
                                                                                                (the
“Committee”),
                                                                                                also
                                                                                                known
                                                                                                as
                                                                                                the
                                                                                                CenturyTel,
                                                                                                Inc.
                                                                                                Retirement
                                                                                                Committee,
                                                                                                shall
                                                                                                serve
                                                                                                as
                                                                                                the
                                                                                                Administrator,
                                                                                                as
                                                                                                defined
                                                                                                in
                                                                                                ERISA
                                                                                                Section
                                                                                                3(16)(A).
                                                                                                The
                                                                                                Committee
                                                                                                is
                                                                                                also
                                                                                                the
                                                                                                Named
                                                                                                Fiduciary,
                                                                                                as
                                                                                                defined
                                                                                                in
                                                                                                ERISA
                                                                                                Section
                                                                                                402(a)(2),
                                                                                                except
                                                                                                where
                                                                                                the
                                                                                                Participant
                                                                                                is
                                                                                                the
                                                                                                Named
                                                                                                Fiduciary.
                                                                                                The
                                                                                                Committee
                                                                                                shall
                                                                                                be
                                                                                                charged
                                                                                                with
                                                                                                the
                                                                                                full
                                                                                                power
                                                                                                and
                                                                                                the
                                                                                                responsibility
                                                                                                for
                                                                                                administering
                                                                                                the
                                                                                                Plan
                                                                                                in
                                                                                                accordance
                                                                                                with
                                                                                                the
                                                                                                terms
                                                                                                and
                                                                                                delegations
                                                                                                stated
                                                                                                in
                                                                                                the
                                                                                                Plan
                                                                                                and
                                                                                                the
                                                                                                Charter
                                                                                                of
                                                                                                the
                                                                                                CenturyTel
                                                                                                Retirement
                                                                                                Committee
                                                                                                (the
“Charter”),
                                                                                                except
                                                                                                as
                                                                                                the
                                                                                                Board
                                                                                                of
                                                                                                Directors
                                                                                                of
                                                                                                the
                                                                                                Company
                                                                                                shall
                                                                                                otherwise
                                                                                                expressly
                                                                                                determine.

                                                                                               

                                                                                              13.2   Duties
                                                                                                and
                                                                                                Responsibilities
                                                                                                of
                                                                                                Fiduciaries.
                                                                                                A
                                                                                                fiduciary
                                                                                                to
                                                                                                the
                                                                                                Plan
                                                                                                shall
                                                                                                have
                                                                                                only
                                                                                                those
                                                                                                specific
                                                                                                powers,
                                                                                                duties,
                                                                                                responsibilities
                                                                                                and
                                                                                                obligations
                                                                                                as
                                                                                                are
                                                                                                explicitly
                                                                                                given
                                                                                                him
                                                                                                under
                                                                                                the
                                                                                                Charter,
                                                                                                Plan
                                                                                                and
                                                                                                Trust
                                                                                                Agreement
                                                                                                and
                                                                                                shall
                                                                                                not
                                                                                                be
                                                                                                responsible
                                                                                                for
                                                                                                any
                                                                                                act
                                                                                                or
                                                                                                failure
                                                                                                to
                                                                                                act
                                                                                                of
                                                                                                another
                                                                                                fiduciary.
                                                                                                In
                                                                                                general,
                                                                                                the
                                                                                                Employer
                                                                                                shall
                                                                                                have
                                                                                                the
                                                                                                sole
                                                                                                responsibility
                                                                                                for
                                                                                                making
                                                                                                contributions
                                                                                                to
                                                                                                the
                                                                                                Plan
                                                                                                required
                                                                                                under
                                                                                                Article
                                                                                                III
                                                                                                of
                                                                                                the
                                                                                                Plan,
                                                                                                appointing
                                                                                                the
                                                                                                Trustee
                                                                                                and
                                                                                                the
                                                                                                members
                                                                                                of
                                                                                                the
                                                                                                Committee,
                                                                                                and
                                                                                                determining
                                                                                                the
                                                                                                funds
                                                                                                available
                                                                                                for
                                                                                                investment
                                                                                                under
                                                                                                the
                                                                                                Plan.
                                                                                                The
                                                                                                Committee
                                                                                                shall
                                                                                                have
                                                                                                the
                                                                                                sole
                                                                                                responsibility
                                                                                                for
                                                                                                the
                                                                                                administration
                                                                                                of
                                                                                                the
                                                                                                Plan,
                                                                                                as
                                                                                                more
                                                                                                fully
                                                                                                described
                                                                                                in
                                                                                                Section
                                                                                                13.3
                                                                                                of
                                                                                                the
                                                                                                Plan.

                                                                                              

                                                                                                13.3  
Powers
                                                                                                  and
                                                                                                  Responsibilities
                                                                                                  of
                                                                                                  the
                                                                                                  Plan
                                                                                                  Administrator. 

                                                                                                

                                                                                                  
                                                                                                    	 	
                                                                                                            (a)

                                                                                                          	
                                                                                                            Administration
                                                                                                              of
                                                                                                              the
                                                                                                              Plan.
                                                                                                              The
                                                                                                              Committee
                                                                                                              shall
                                                                                                              have
                                                                                                              the
                                                                                                              responsibility
                                                                                                              for
                                                                                                              the
                                                                                                              management
                                                                                                              of
                                                                                                              the
                                                                                                              Plan
                                                                                                              and
                                                                                                              shall
                                                                                                              have
                                                                                                              the
                                                                                                              sole,
                                                                                                              final
                                                                                                              and
                                                                                                              absolute
                                                                                                              right
                                                                                                              to
                                                                                                              reconcile
                                                                                                              any
                                                                                                              inconsistency
                                                                                                              in
                                                                                                              the
                                                                                                              Plan,
                                                                                                              to
                                                                                                              interpret
                                                                                                              and
                                                                                                              construe
                                                                                                              the
                                                                                                              provisions
                                                                                                              of
                                                                                                              the
                                                                                                              Plan
                                                                                                              in
                                                                                                              all
                                                                                                              particulars,
                                                                                                              in
                                                                                                              such
                                                                                                              manner
                                                                                                              and
                                                                                                              to
                                                                                                              such
                                                                                                              extent
                                                                                                              as
                                                                                                              it
                                                                                                              deems
                                                                                                              proper,
                                                                                                              and
                                                                                                              to
                                                                                                              make
                                                                                                              all
                                                                                                              decisions
                                                                                                              and
                                                                                                              determinations
                                                                                                              necessary
                                                                                                              under
                                                                                                              the
                                                                                                              Plan.
                                                                                                              In
                                                                                                              addition,
                                                                                                              the
                                                                                                              Committee
                                                                                                              shall
                                                                                                              have
                                                                                                              the
                                                                                                              following
                                                                                                              powers,
                                                                                                              rights,
                                                                                                              and
                                                                                                              duties:

                                                                                                          

                                                                                                  

                                                                                                   

                                                                                                

                                                                                              

                                                                                            

                                                                                            
                                                                                              
                                                                                                	 	
                                                                                                        (1)

                                                                                                      	
                                                                                                        The
                                                                                                          Committee
                                                                                                          may
                                                                                                          adopt
                                                                                                          suitable
                                                                                                          rules
                                                                                                          and
                                                                                                          regulations
                                                                                                          for
                                                                                                          the
                                                                                                          administration
                                                                                                          of
                                                                                                          the
                                                                                                          Plan.

                                                                                                      

                                                                                              

                                                                                               

                                                                                              
                                                                                                	 	
                                                                                                        (2)

                                                                                                      	
                                                                                                        Decisions
                                                                                                          of
                                                                                                          the
                                                                                                          Committee
                                                                                                          may
                                                                                                          be
                                                                                                          conveyed
                                                                                                          to
                                                                                                          third
                                                                                                          persons
                                                                                                          by
                                                                                                          any
                                                                                                          of
                                                                                                          its
                                                                                                          members.
                                                                                                          Third
                                                                                                          persons
                                                                                                          shall
                                                                                                          be
                                                                                                          entitled
                                                                                                          to
                                                                                                          assume
                                                                                                          that
                                                                                                          the
                                                                                                          decision
                                                                                                          so
                                                                                                          conveyed
                                                                                                          is
                                                                                                          given
                                                                                                          with
                                                                                                          the
                                                                                                          consent
                                                                                                          of
                                                                                                          the
                                                                                                          majority
                                                                                                          of
                                                                                                          the
                                                                                                          Committee.

                                                                                                      

                                                                                              

                                                                                               

                                                                                              
                                                                                                	 	
                                                                                                        (3)

                                                                                                      	
                                                                                                        The
                                                                                                          Committee
                                                                                                          shall
                                                                                                          cause
                                                                                                          to
                                                                                                          be
                                                                                                          kept
                                                                                                          all
                                                                                                          such
                                                                                                          records
                                                                                                          and
                                                                                                          other
                                                                                                          data
                                                                                                          as
                                                                                                          may
                                                                                                          be
                                                                                                          necessary
                                                                                                          for
                                                                                                          the
                                                                                                          performance
                                                                                                          of
                                                                                                          its
                                                                                                          duties.

                                                                                                      

                                                                                              

                                                                                               

                                                                                              
                                                                                                	 	
                                                                                                        (4)

                                                                                                      	
                                                                                                        The
                                                                                                          members
                                                                                                          of
                                                                                                          the
                                                                                                          Committee
                                                                                                          shall
                                                                                                          serve
                                                                                                          without
                                                                                                          compensation
                                                                                                          for
                                                                                                          their
                                                                                                          services
                                                                                                          as
                                                                                                          such.
                                                                                                          The
                                                                                                          Committee
                                                                                                          and
                                                                                                          the
                                                                                                          members
                                                                                                          thereof
                                                                                                          shall
                                                                                                          be
                                                                                                          free
                                                                                                          of
                                                                                                          any
                                                                                                          liability,
                                                                                                          joint
                                                                                                          or
                                                                                                          several,
                                                                                                          for
                                                                                                          their
                                                                                                          acts
                                                                                                          or
                                                                                                          failures
                                                                                                          to
                                                                                                          act
                                                                                                          as
                                                                                                          members
                                                                                                          or
                                                                                                          officers
                                                                                                          of
                                                                                                          such
                                                                                                          Committee
                                                                                                          in
                                                                                                          connection
                                                                                                          with
                                                                                                          this
                                                                                                          Plan,
                                                                                                          except
                                                                                                          that
                                                                                                          any
                                                                                                          member
                                                                                                          of
                                                                                                          the
                                                                                                          Committee
                                                                                                          shall
                                                                                                          be
                                                                                                          liable
                                                                                                          for
                                                                                                          his
                                                                                                          own
                                                                                                          willful
                                                                                                          misconduct
                                                                                                          or
                                                                                                          gross
                                                                                                          negligence.

                                                                                                      

                                                                                              

                                                                                               

                                                                                              
                                                                                                	 	
                                                                                                        (5)

                                                                                                      	
                                                                                                        The
                                                                                                          Committee
                                                                                                          shall
                                                                                                          not
                                                                                                          exercise
                                                                                                          any
                                                                                                          powers
                                                                                                          conferred
                                                                                                          upon
                                                                                                          it
                                                                                                          in
                                                                                                          such
                                                                                                          a
                                                                                                          way
                                                                                                          as
                                                                                                          to
                                                                                                          result
                                                                                                          in
                                                                                                          discrimination
                                                                                                          in
                                                                                                          favor
                                                                                                          of
                                                                                                          any
                                                                                                          Participant
                                                                                                          who
                                                                                                          is
                                                                                                          a
                                                                                                          Highly-Compensated
                                                                                                          Employee.

                                                                                                      

                                                                                              

                                                                                              

                                                                                                
                                                                                                  	 	
                                                                                                          (b)

                                                                                                        	
                                                                                                          Records
                                                                                                            and
                                                                                                            Reports.
                                                                                                            The
                                                                                                            Committee
                                                                                                            shall
                                                                                                            be
                                                                                                            responsible
                                                                                                            for
                                                                                                            maintaining
                                                                                                            sufficient
                                                                                                            records
                                                                                                            to
                                                                                                            reflect
                                                                                                            the
                                                                                                            Compensation
                                                                                                            of
                                                                                                            each
                                                                                                            Participant
                                                                                                            for
                                                                                                            purposes
                                                                                                            of
                                                                                                            determining
                                                                                                            the
                                                                                                            amount
                                                                                                            of
                                                                                                            contributions
                                                                                                            that
                                                                                                            may
                                                                                                            be
                                                                                                            made
                                                                                                            by
                                                                                                            or
                                                                                                            on
                                                                                                            behalf
                                                                                                            of
                                                                                                            the
                                                                                                            Participant
                                                                                                            under
                                                                                                            the
                                                                                                            Plan.
                                                                                                            The
                                                                                                            Committee
                                                                                                            shall
                                                                                                            be
                                                                                                            responsible
                                                                                                            for
                                                                                                            submitting
                                                                                                            all
                                                                                                            required
                                                                                                            reports
                                                                                                            and
                                                                                                            notification
                                                                                                            relating
                                                                                                            to
                                                                                                            the
                                                                                                            Plan
                                                                                                            to
                                                                                                            Participants
                                                                                                            or
                                                                                                            their
                                                                                                            Beneficiaries,
                                                                                                            the
                                                                                                            Internal
                                                                                                            Revenue
                                                                                                            Service,
                                                                                                            and
                                                                                                            the
                                                                                                            Department
                                                                                                            of
                                                                                                            Labor.

                                                                                                        

                                                                                                

                                                                                                 

                                                                                                
                                                                                                  	 	
                                                                                                          (c)

                                                                                                        	
                                                                                                          Furnishing
                                                                                                            Trustee
                                                                                                            with
                                                                                                            Instructions.
                                                                                                            The
                                                                                                            Committee
                                                                                                            shall
                                                                                                            be
                                                                                                            responsible
                                                                                                            for
                                                                                                            furnishing
                                                                                                            the
                                                                                                            Trustee
                                                                                                            with
                                                                                                            written
                                                                                                            instructions
                                                                                                            regarding
                                                                                                            all
                                                                                                            contributions
                                                                                                            to
                                                                                                            the
                                                                                                            Trust,
                                                                                                            all
                                                                                                            distributions
                                                                                                            to
                                                                                                            Participants
                                                                                                            and
                                                                                                            all
                                                                                                            loans
                                                                                                            to
                                                                                                            Participants.
                                                                                                            In
                                                                                                            addition,
                                                                                                            the
                                                                                                            Committee
                                                                                                            shall
                                                                                                            be
                                                                                                            responsible
                                                                                                            for
                                                                                                            furnishing
                                                                                                            the
                                                                                                            Trustee
                                                                                                            with
                                                                                                            any
                                                                                                            further
                                                                                                            information
                                                                                                            respecting
                                                                                                            the
                                                                                                            Plan
                                                                                                            which
                                                                                                            the
                                                                                                            Trustee
                                                                                                            may
                                                                                                            request
                                                                                                            for
                                                                                                            the
                                                                                                            performance
                                                                                                            of
                                                                                                            its
                                                                                                            duties
                                                                                                            or
                                                                                                            for
                                                                                                            the
                                                                                                            purpose
                                                                                                            of
                                                                                                            making
                                                                                                            any
                                                                                                            returns
                                                                                                            to
                                                                                                            the
                                                                                                            Internal
                                                                                                            Revenue
                                                                                                            Service
                                                                                                            or
                                                                                                            Department
                                                                                                            of
                                                                                                            Labor
                                                                                                            as
                                                                                                            may
                                                                                                            be
                                                                                                            required
                                                                                                            of
                                                                                                            the
                                                                                                            Trustee
                                                                                                            under
                                                                                                            the
                                                                                                            terms
                                                                                                            of
                                                                                                            the
                                                                                                            Trust
                                                                                                            Agreement.

                                                                                                        

                                                                                                

                                                                                                 

                                                                                                
                                                                                                  	 	
                                                                                                          (d)

                                                                                                        	
                                                                                                          Rules
                                                                                                            and
                                                                                                            Decisions.
                                                                                                            The
                                                                                                            Committee
                                                                                                            may
                                                                                                            adopt
                                                                                                            such
                                                                                                            rules
                                                                                                            as
                                                                                                            it
                                                                                                            deems
                                                                                                            necessary,
                                                                                                            desirable
                                                                                                            or
                                                                                                            appropriate
                                                                                                            in
                                                                                                            the
                                                                                                            administration
                                                                                                            of
                                                                                                            the
                                                                                                            Plan.
                                                                                                            All
                                                                                                            rules
                                                                                                            and
                                                                                                            decisions
                                                                                                            of
                                                                                                            the
                                                                                                            Committee
                                                                                                            shall
                                                                                                            be
                                                                                                            applied
                                                                                                            uniformly
                                                                                                            and
                                                                                                            consistently
                                                                                                            to
                                                                                                            all
                                                                                                            Participants
                                                                                                            in
                                                                                                            similar
                                                                                                            circumstances.
                                                                                                            When
                                                                                                            making
                                                                                                            a
                                                                                                            determination
                                                                                                            of
                                                                                                            calculation,
                                                                                                            the
                                                                                                            Committee
                                                                                                            shall
                                                                                                            be
                                                                                                            entitled
                                                                                                            to
                                                                                                            rely
                                                                                                            upon
                                                                                                            information
                                                                                                            furnished
                                                                                                            by
                                                                                                            a
                                                                                                            Participant
                                                                                                            or
                                                                                                            Beneficiary,
                                                                                                            the
                                                                                                            Employer,
                                                                                                            and
                                                                                                            the
                                                                                                            legal
                                                                                                            counsel
                                                                                                            of
                                                                                                            the
                                                                                                            Employer
                                                                                                            or
                                                                                                            the
                                                                                                            Trustee.

                                                                                                        

                                                                                                

                                                                                                 

                                                                                                
                                                                                                  	 	
                                                                                                          (e)

                                                                                                        	
                                                                                                          Application
                                                                                                            and
                                                                                                            Forms
                                                                                                            for
                                                                                                            Benefits.
                                                                                                            The
                                                                                                            Committee
                                                                                                            may
                                                                                                            require
                                                                                                            a
                                                                                                            Participant
                                                                                                            or
                                                                                                            Beneficiary
                                                                                                            to
                                                                                                            complete
                                                                                                            and
                                                                                                            file
                                                                                                            with
                                                                                                            it
                                                                                                            an
                                                                                                            application
                                                                                                            for
                                                                                                            a
                                                                                                            benefit,
                                                                                                            and
                                                                                                            to
                                                                                                            furnish
                                                                                                            all
                                                                                                            pertinent
                                                                                                            information
                                                                                                            requested
                                                                                                            by
                                                                                                            it.
                                                                                                            The
                                                                                                            Committee
                                                                                                            may
                                                                                                            rely
                                                                                                            upon
                                                                                                            all
                                                                                                            such
                                                                                                            information
                                                                                                            so
                                                                                                            furnished
                                                                                                            to
                                                                                                            it,
                                                                                                            including
                                                                                                            the
                                                                                                            Participant’s
                                                                                                            or
                                                                                                            Beneficiary’s
                                                                                                            current
                                                                                                            mailing
                                                                                                            address.

                                                                                                        

                                                                                                

                                                                                                

                                                                                                  13.4  Allocation
                                                                                                    of
                                                                                                    Duties
                                                                                                    and
                                                                                                    Responsibilities.  
                                                                                                    The
                                                                                                    Committee
                                                                                                    may
                                                                                                    by
                                                                                                    written
                                                                                                    instrument
                                                                                                    allocate
                                                                                                    among
                                                                                                    its
                                                                                                    members
                                                                                                    or
                                                                                                    employees
                                                                                                    any
                                                                                                    of
                                                                                                    its
                                                                                                    duties
                                                                                                    and
                                                                                                    responsibilities
                                                                                                    not
                                                                                                    already
                                                                                                    allocated
                                                                                                    under
                                                                                                    the
                                                                                                    Charter
                                                                                                    or
                                                                                                    Plan
                                                                                                    or
                                                                                                    may
                                                                                                    carry
                                                                                                    out
                                                                                                    any
                                                                                                    of
                                                                                                    the
                                                                                                    Committee’s
                                                                                                    duties
                                                                                                    and
                                                                                                    responsibilities
                                                                                                    under
                                                                                                    the
                                                                                                    Plan.
                                                                                                    Any
                                                                                                    such
                                                                                                    duties
                                                                                                    or
                                                                                                    responsibilities
                                                                                                    thus
                                                                                                    allocated
                                                                                                    must
                                                                                                    be
                                                                                                    described
                                                                                                    in
                                                                                                    the
                                                                                                    written
                                                                                                    instrument.
                                                                                                    If
                                                                                                    a
                                                                                                    person
                                                                                                    other
                                                                                                    than
                                                                                                    an
                                                                                                    Employee
                                                                                                    of
                                                                                                    the
                                                                                                    Employer
                                                                                                    is
                                                                                                    so
                                                                                                    designated,
                                                                                                    such
                                                                                                    person
                                                                                                    must
                                                                                                    acknowledge
                                                                                                    in
                                                                                                    writing
                                                                                                    his
                                                                                                    acceptance
                                                                                                    of
                                                                                                    the
                                                                                                    duties
                                                                                                    and
                                                                                                    responsibilities
                                                                                                    allocated
                                                                                                    to
                                                                                                    him.

                                                                                                   

                                                                                                  13.5  Expenses.  
                                                                                                    Except
                                                                                                    as
                                                                                                    provided
                                                                                                    below,
                                                                                                    the
                                                                                                    Employer
                                                                                                    shall
                                                                                                    pay
                                                                                                    all
                                                                                                    expenses
                                                                                                    authorized
                                                                                                    and
                                                                                                    incurred
                                                                                                    by
                                                                                                    the
                                                                                                    Plan
                                                                                                    in
                                                                                                    the
                                                                                                    administration
                                                                                                    of
                                                                                                    the
                                                                                                    Plan
                                                                                                    (including
                                                                                                    Trustee’s
                                                                                                    fees)
                                                                                                    except
                                                                                                    to
                                                                                                    the
                                                                                                    extent
                                                                                                    such
                                                                                                    expenses
                                                                                                    are
                                                                                                    paid
                                                                                                    from
                                                                                                    the
                                                                                                    Trust.
                                                                                                    The
                                                                                                    Committee
                                                                                                    may
                                                                                                    direct
                                                                                                    the
                                                                                                    Trustee
                                                                                                    to
                                                                                                    charge
                                                                                                    reasonable
                                                                                                    administrative
                                                                                                    expenses
                                                                                                    of
                                                                                                    the
                                                                                                    Plan
                                                                                                    to
                                                                                                    Participants’
Accounts,
                                                                                                    including
                                                                                                    but
                                                                                                    not
                                                                                                    limited
                                                                                                    to
                                                                                                    fees
                                                                                                    to
                                                                                                    process
                                                                                                    domestic
                                                                                                    relations
                                                                                                    orders,
                                                                                                    but
                                                                                                    only
                                                                                                    to
                                                                                                    the
                                                                                                    extent
                                                                                                    that
                                                                                                    the
                                                                                                    Committee
                                                                                                    has
                                                                                                    determined
                                                                                                    that
                                                                                                    such
                                                                                                    charges
                                                                                                    to
                                                                                                    Participants’
Accounts
                                                                                                    are
                                                                                                    consistent
                                                                                                    with
                                                                                                    ERISA
                                                                                                    and
                                                                                                    interpretative
                                                                                                    guidance
                                                                                                    thereunder
                                                                                                    issued
                                                                                                    by
                                                                                                    the
                                                                                                    DOL.

                                                                                                   

                                                                                                  13.6  Liabilities.  
                                                                                                    The
                                                                                                    Committee
                                                                                                    and
                                                                                                    each
                                                                                                    person
                                                                                                    to
                                                                                                    whom
                                                                                                    duties
                                                                                                    and
                                                                                                    responsibilities
                                                                                                    have
                                                                                                    been
                                                                                                    allocated
                                                                                                    pursuant
                                                                                                    to
                                                                                                    Section
                                                                                                    13.4
                                                                                                    of
                                                                                                    the
                                                                                                    Plan
                                                                                                    may
                                                                                                    be
                                                                                                    indemnified
                                                                                                    and
                                                                                                    held
                                                                                                    harmless
                                                                                                    by
                                                                                                    the
                                                                                                    Employer
                                                                                                    with
                                                                                                    respect
                                                                                                    to
                                                                                                    any
                                                                                                    alleged
                                                                                                    breach
                                                                                                    of
                                                                                                    responsibilities
                                                                                                    performed
                                                                                                    or
                                                                                                    to
                                                                                                    be
                                                                                                    performed
                                                                                                    hereunder.

                                                                                                   

                                                                                                  13.7  Claims
                                                                                                    Procedure.

                                                                                                  

                                                                                                    
                                                                                                      	 	
                                                                                                              (a)

                                                                                                            	
                                                                                                              Filing
                                                                                                                a
                                                                                                                Claim.
                                                                                                                Any
                                                                                                                Participant
                                                                                                                or
                                                                                                                Beneficiary
                                                                                                                under
                                                                                                                the
                                                                                                                Plan
                                                                                                                may
                                                                                                                file
                                                                                                                a
                                                                                                                written
                                                                                                                claim
                                                                                                                for
                                                                                                                a
                                                                                                                Plan
                                                                                                                benefit
                                                                                                                with
                                                                                                                the
                                                                                                                Committee
                                                                                                                or
                                                                                                                with
                                                                                                                a
                                                                                                                person
                                                                                                                named
                                                                                                                by
                                                                                                                the
                                                                                                                Committee
                                                                                                                to
                                                                                                                receive
                                                                                                                claims
                                                                                                                under
                                                                                                                the
                                                                                                                Plan.

                                                                                                            

                                                                                                    

                                                                                                     

                                                                                                    
                                                                                                      	 	
                                                                                                              (b)

                                                                                                            	
                                                                                                              Notice
                                                                                                                of
                                                                                                                Denial
                                                                                                                of
                                                                                                                Claim.
                                                                                                                In
                                                                                                                the
                                                                                                                event
                                                                                                                of
                                                                                                                a
                                                                                                                denial
                                                                                                                or
                                                                                                                limitation
                                                                                                                of
                                                                                                                any
                                                                                                                benefit
                                                                                                                or
                                                                                                                payment
                                                                                                                due
                                                                                                                to
                                                                                                                or
                                                                                                                requested
                                                                                                                by
                                                                                                                any
                                                                                                                Participant
                                                                                                                or
                                                                                                                Beneficiary
                                                                                                                under
                                                                                                                the
                                                                                                                Plan
                                                                                                                (“Claimant”),
                                                                                                                Claimant
                                                                                                                shall
                                                                                                                be
                                                                                                                given
                                                                                                                a
                                                                                                                written
                                                                                                                notification
                                                                                                                containing
                                                                                                                specific
                                                                                                                reasons
                                                                                                                for
                                                                                                                the
                                                                                                                denial
                                                                                                                or
                                                                                                                limitation
                                                                                                                of
                                                                                                                his
                                                                                                                benefit.
                                                                                                                The
                                                                                                                written
                                                                                                                notification
                                                                                                                shall
                                                                                                                contain
                                                                                                                specific
                                                                                                                reference
                                                                                                                to
                                                                                                                the
                                                                                                                pertinent
                                                                                                                Plan
                                                                                                                provisions
                                                                                                                on
                                                                                                                which
                                                                                                                the
                                                                                                                denial
                                                                                                                or
                                                                                                                limitation
                                                                                                                of
                                                                                                                his
                                                                                                                benefit
                                                                                                                is
                                                                                                                based.
                                                                                                                In
                                                                                                                addition,
                                                                                                                it
                                                                                                                shall
                                                                                                                contain
                                                                                                                a
                                                                                                                description
                                                                                                                of
                                                                                                                any
                                                                                                                other
                                                                                                                material
                                                                                                                or
                                                                                                                information
                                                                                                                necessary
                                                                                                                for
                                                                                                                the
                                                                                                                Claimant
                                                                                                                to
                                                                                                                perfect
                                                                                                                a
                                                                                                                claim,
                                                                                                                and
                                                                                                                an
                                                                                                                explanation
                                                                                                                of
                                                                                                                why
                                                                                                                such
                                                                                                                material
                                                                                                                or
                                                                                                                information
                                                                                                                is
                                                                                                                necessary.
                                                                                                                The
                                                                                                                notification
                                                                                                                shall
                                                                                                                further
                                                                                                                provide
                                                                                                                appropriate
                                                                                                                information
                                                                                                                as
                                                                                                                to
                                                                                                                the
                                                                                                                steps
                                                                                                                to
                                                                                                                be
                                                                                                                taken
                                                                                                                if
                                                                                                                the
                                                                                                                Claimant
                                                                                                                wishes
                                                                                                                to
                                                                                                                submit
                                                                                                                his
                                                                                                                claim
                                                                                                                for
                                                                                                                review.
                                                                                                                This
                                                                                                                written
                                                                                                                notification
                                                                                                                shall
                                                                                                                be
                                                                                                                given
                                                                                                                to
                                                                                                                a
                                                                                                                Claimant
                                                                                                                within
                                                                                                                90
                                                                                                                days
                                                                                                                after
                                                                                                                receipt
                                                                                                                of
                                                                                                                his
                                                                                                                claim
                                                                                                                by
                                                                                                                the
                                                                                                                Committee
                                                                                                                unless
                                                                                                                special
                                                                                                                circumstances
                                                                                                                require
                                                                                                                an
                                                                                                                extension
                                                                                                                of
                                                                                                                time
                                                                                                                for
                                                                                                                processing
                                                                                                                the
                                                                                                                claim.
                                                                                                                If
                                                                                                                such
                                                                                                                an
                                                                                                                extension
                                                                                                                of
                                                                                                                time
                                                                                                                for
                                                                                                                processing
                                                                                                                is
                                                                                                                required,
                                                                                                                written
                                                                                                                notice
                                                                                                                of
                                                                                                                the
                                                                                                                extension
                                                                                                                shall
                                                                                                                be
                                                                                                                furnished
                                                                                                                to
                                                                                                                the
                                                                                                                Claimant
                                                                                                                prior
                                                                                                                to
                                                                                                                the
                                                                                                                termination
                                                                                                                of
                                                                                                                said
                                                                                                                90-day
                                                                                                                period,
                                                                                                                and
                                                                                                                such
                                                                                                                notice
                                                                                                                shall
                                                                                                                indicate
                                                                                                                the
                                                                                                                special
                                                                                                                circumstances
                                                                                                                which
                                                                                                                make
                                                                                                                the
                                                                                                                postponement
                                                                                                                appropriate.

                                                                                                            

                                                                                                    

                                                                                                     

                                                                                                    
                                                                                                      	 	
                                                                                                              (c)

                                                                                                            	
                                                                                                              Right
                                                                                                                of
                                                                                                                Review.
                                                                                                                In
                                                                                                                the
                                                                                                                event
                                                                                                                of
                                                                                                                denial
                                                                                                                or
                                                                                                                limitation
                                                                                                                of
                                                                                                                his
                                                                                                                benefit,
                                                                                                                the
                                                                                                                Claimant
                                                                                                                or
                                                                                                                his
                                                                                                                duly
                                                                                                                authorized
                                                                                                                representative
                                                                                                                shall
                                                                                                                be
                                                                                                                permitted
                                                                                                                to
                                                                                                                review
                                                                                                                pertinent
                                                                                                                documents
                                                                                                                and
                                                                                                                to
                                                                                                                submit
                                                                                                                to
                                                                                                                the
                                                                                                                Committee
                                                                                                                issues
                                                                                                                and
                                                                                                                comments
                                                                                                                in
                                                                                                                writing.
                                                                                                                In
                                                                                                                addition,
                                                                                                                the
                                                                                                                Claimant
                                                                                                                or
                                                                                                                his
                                                                                                                duly
                                                                                                                authorized
                                                                                                                representative
                                                                                                                may
                                                                                                                make
                                                                                                                a
                                                                                                                written
                                                                                                                request
                                                                                                                for
                                                                                                                a
                                                                                                                full
                                                                                                                and
                                                                                                                fair
                                                                                                                review
                                                                                                                of
                                                                                                                his
                                                                                                                claim
                                                                                                                and
                                                                                                                its
                                                                                                                denial
                                                                                                                by
                                                                                                                the
                                                                                                                Committee;
                                                                                                                provided,
                                                                                                                however,
                                                                                                                that
                                                                                                                such
                                                                                                                written
                                                                                                                request
                                                                                                                must
                                                                                                                be
                                                                                                                received
                                                                                                                by
                                                                                                                the
                                                                                                                Committee
                                                                                                                (or
                                                                                                                its
                                                                                                                delegate
                                                                                                                to
                                                                                                                receive
                                                                                                                such
                                                                                                                requests)
                                                                                                                within
                                                                                                                60
                                                                                                                days
                                                                                                                after
                                                                                                                receipt
                                                                                                                by
                                                                                                                the
                                                                                                                Claimant
                                                                                                                of
                                                                                                                written
                                                                                                                notification
                                                                                                                of
                                                                                                                the
                                                                                                                denial
                                                                                                                or
                                                                                                                limitation
                                                                                                                of
                                                                                                                the
                                                                                                                claim.
                                                                                                                The
                                                                                                                60-day
                                                                                                                requirement
                                                                                                                may
                                                                                                                be
                                                                                                                waived
                                                                                                                by
                                                                                                                the
                                                                                                                Committee
                                                                                                                in
                                                                                                                appropriate
                                                                                                                cases.

                                                                                                            

                                                                                                    

                                                                                                     

                                                                                                    
                                                                                                      	 	
                                                                                                              (d)

                                                                                                            	
                                                                                                              Decision
                                                                                                                on
                                                                                                                Review.
                                                                                                                A
                                                                                                                decision
                                                                                                                shall
                                                                                                                be
                                                                                                                rendered
                                                                                                                by
                                                                                                                the
                                                                                                                Committee
                                                                                                                within
                                                                                                                60
                                                                                                                days
                                                                                                                after
                                                                                                                the
                                                                                                                receipt
                                                                                                                of
                                                                                                                the
                                                                                                                request
                                                                                                                for
                                                                                                                review,
                                                                                                                provided
                                                                                                                that
                                                                                                                where
                                                                                                                special
                                                                                                                circumstances
                                                                                                                require
                                                                                                                an
                                                                                                                extension
                                                                                                                of
                                                                                                                time
                                                                                                                for
                                                                                                                processing
                                                                                                                the
                                                                                                                decision,
                                                                                                                it
                                                                                                                may
                                                                                                                be
                                                                                                                postponed
                                                                                                                on
                                                                                                                written
                                                                                                                notice
                                                                                                                to
                                                                                                                the
                                                                                                                Claimant
                                                                                                                (prior
                                                                                                                to
                                                                                                                the
                                                                                                                expiration
                                                                                                                of
                                                                                                                the
                                                                                                                initial
                                                                                                                60-day
                                                                                                                period)
                                                                                                                for
                                                                                                                an
                                                                                                                additional
                                                                                                                60
                                                                                                                days
                                                                                                                after
                                                                                                                the
                                                                                                                receipt
                                                                                                                of
                                                                                                                such
                                                                                                                request
                                                                                                                for
                                                                                                                review.
                                                                                                                Any
                                                                                                                decision
                                                                                                                by
                                                                                                                the
                                                                                                                Committee
                                                                                                                shall
                                                                                                                be
                                                                                                                furnished
                                                                                                                to
                                                                                                                the
                                                                                                                Claimant
                                                                                                                in
                                                                                                                writing
                                                                                                                and
                                                                                                                shall
                                                                                                                set
                                                                                                                forth
                                                                                                                the
                                                                                                                specific
                                                                                                                reasons
                                                                                                                for
                                                                                                                the
                                                                                                                decision
                                                                                                                and
                                                                                                                the
                                                                                                                specific
                                                                                                                Plan
                                                                                                                provisions
                                                                                                                on
                                                                                                                which
                                                                                                                the
                                                                                                                decision
                                                                                                                is
                                                                                                                based.

                                                                                                            

                                                                                                    

                                                                                                     

                                                                                                    
                                                                                                      	 	
                                                                                                              (e)

                                                                                                            	
                                                                                                              Court
                                                                                                                Action.
                                                                                                                No
                                                                                                                Participant,
                                                                                                                Beneficiary
                                                                                                                or
                                                                                                                other
                                                                                                                Claimant
                                                                                                                shall
                                                                                                                have
                                                                                                                the
                                                                                                                right
                                                                                                                to
                                                                                                                seek
                                                                                                                judicial
                                                                                                                review
                                                                                                                of
                                                                                                                a
                                                                                                                denial
                                                                                                                of
                                                                                                                benefits,
                                                                                                                or
                                                                                                                to
                                                                                                                bring
                                                                                                                any
                                                                                                                action
                                                                                                                in
                                                                                                                any
                                                                                                                court
                                                                                                                to
                                                                                                                enforce
                                                                                                                a
                                                                                                                claim
                                                                                                                for
                                                                                                                benefits
                                                                                                                prior
                                                                                                                to
                                                                                                                filing
                                                                                                                a
                                                                                                                claim
                                                                                                                for
                                                                                                                benefits
                                                                                                                or
                                                                                                                exhausting
                                                                                                                his
                                                                                                                rights
                                                                                                                to
                                                                                                                review
                                                                                                                under
                                                                                                                this
                                                                                                                Section
                                                                                                                13.7.
                                                                                                                

                                                                                                            

                                                                                                    

                                                                                                     

                                                                                                    
                                                                                                      	 	
                                                                                                              (f)

                                                                                                            	
                                                                                                              Notification.
                                                                                                                The
                                                                                                                Committee
                                                                                                                shall
                                                                                                                provide
                                                                                                                a
                                                                                                                Claimant
                                                                                                                with
                                                                                                                written
                                                                                                                or
                                                                                                                electronic
                                                                                                                notification.
                                                                                                                Electronic
                                                                                                                notification
                                                                                                                must
                                                                                                                comply
                                                                                                                with
                                                                                                                the
                                                                                                                standards
                                                                                                                imposed
                                                                                                                by
                                                                                                                29
                                                                                                                CFR
                                                                                                                2520.104b-1(c)(1)(i),
                                                                                                                (ii),
                                                                                                                (iii),
                                                                                                                and
                                                                                                                (iv).

                                                                                                            

                                                                                                    

                                                                                                     

                                                                                                  

                                                                                                  

                                                                                                    ARTICLE
                                                                                                      I 

                                                                                                    AMENDMENT,
                                                                                                      TERMINATION
                                                                                                      AND
                                                                                                      MERGER

                                                                                                    

                                                                                                      14.1    Adoption
                                                                                                        of
                                                                                                        Plan.   
                                                                                                        If
                                                                                                        an
                                                                                                        entity
                                                                                                        became
                                                                                                        an
                                                                                                        Affiliated
                                                                                                        Employer
                                                                                                        pursuant
                                                                                                        to
                                                                                                        an
                                                                                                        acquisition
                                                                                                        and
                                                                                                        according
                                                                                                        to
                                                                                                        Section
                                                                                                        1.39
                                                                                                        of
                                                                                                        the
                                                                                                        Plan
                                                                                                        is
                                                                                                        not
                                                                                                        automatically
                                                                                                        a
                                                                                                        Participating
                                                                                                        Employer,
                                                                                                        such
                                                                                                        entity
                                                                                                        will
                                                                                                        be
                                                                                                        deemed
                                                                                                        to
                                                                                                        have
                                                                                                        adopted
                                                                                                        the
                                                                                                        Plan
                                                                                                        upon
                                                                                                        execution
                                                                                                        of
                                                                                                        an
                                                                                                        agreement
                                                                                                        that
                                                                                                        merges
                                                                                                        its
                                                                                                        defined
                                                                                                        contribution
                                                                                                        plan
                                                                                                        with
                                                                                                        401(k)
                                                                                                        features
                                                                                                        in
                                                                                                        this
                                                                                                        Plan.
                                                                                                        Also,
                                                                                                        any
                                                                                                        entity
                                                                                                        which
                                                                                                        is
                                                                                                        an
                                                                                                        Affiliated
                                                                                                        Employer
                                                                                                        and
                                                                                                        is
                                                                                                        not
                                                                                                        automatically
                                                                                                        a
                                                                                                        Participating
                                                                                                        Employer,
                                                                                                        may,
                                                                                                        with
                                                                                                        the
                                                                                                        permission
                                                                                                        of
                                                                                                        the
                                                                                                        Board
                                                                                                        of
                                                                                                        Directors
                                                                                                        or
                                                                                                        Compensation
                                                                                                        Committee,
                                                                                                        elect
                                                                                                        to
                                                                                                        adopt
                                                                                                        this
                                                                                                        Plan
                                                                                                        and
                                                                                                        Trust.

                                                                                                       

                                                                                                      
                                                                                                        14.2     Amendments.

                                                                                                         

                                                                                                        
                                                                                                          
                                                                                                            	 	
                                                                                                                    (a)

                                                                                                                  	
                                                                                                                    The
                                                                                                                      Employer
                                                                                                                      expressly
                                                                                                                      reserves
                                                                                                                      the
                                                                                                                      right
                                                                                                                      to
                                                                                                                      amend
                                                                                                                      this
                                                                                                                      Plan
                                                                                                                      and
                                                                                                                      Trust
                                                                                                                      at
                                                                                                                      any
                                                                                                                      time
                                                                                                                      and
                                                                                                                      from
                                                                                                                      time
                                                                                                                      to
                                                                                                                      time,
                                                                                                                      and
                                                                                                                      to
                                                                                                                      any
                                                                                                                      extent
                                                                                                                      and
                                                                                                                      in
                                                                                                                      any
                                                                                                                      manner
                                                                                                                      that
                                                                                                                      the
                                                                                                                      Employer
                                                                                                                      may
                                                                                                                      deem
                                                                                                                      advisable.
                                                                                                                      The
                                                                                                                      Board
                                                                                                                      of
                                                                                                                      Directors
                                                                                                                      delegates
                                                                                                                      to
                                                                                                                      the
                                                                                                                      Committee
                                                                                                                      the
                                                                                                                      right
                                                                                                                      to
                                                                                                                      amend
                                                                                                                      the
                                                                                                                      Plan
                                                                                                                      and
                                                                                                                      Trust
                                                                                                                      to
                                                                                                                      comply
                                                                                                                      with
                                                                                                                      changes
                                                                                                                      in
                                                                                                                      laws
                                                                                                                      and
                                                                                                                      regulations
                                                                                                                      governing
                                                                                                                      them.
                                                                                                                      The
                                                                                                                      Board
                                                                                                                      also
                                                                                                                      delegates
                                                                                                                      to
                                                                                                                      the
                                                                                                                      Committee
                                                                                                                      to
                                                                                                                      right
                                                                                                                      to
                                                                                                                      incorporate
                                                                                                                      prior
                                                                                                                      amendments
                                                                                                                      authorized
                                                                                                                      by
                                                                                                                      the
                                                                                                                      Board
                                                                                                                      or
                                                                                                                      adopted
                                                                                                                      by
                                                                                                                      the
                                                                                                                      Committee
                                                                                                                      and
                                                                                                                      current
                                                                                                                      amendments
                                                                                                                      adopted
                                                                                                                      by
                                                                                                                      the
                                                                                                                      Committee
                                                                                                                      into
                                                                                                                      one
                                                                                                                      Plan
                                                                                                                      and
                                                                                                                      Trust.
                                                                                                                      Each
                                                                                                                      amendment
                                                                                                                      shall
                                                                                                                      be
                                                                                                                      authorized
                                                                                                                      by
                                                                                                                      the
                                                                                                                      Committee
                                                                                                                      and
                                                                                                                      shall
                                                                                                                      be
                                                                                                                      set
                                                                                                                      forth
                                                                                                                      in
                                                                                                                      an
                                                                                                                      instrument
                                                                                                                      in
                                                                                                                      writing
                                                                                                                      executed
                                                                                                                      on
                                                                                                                      behalf
                                                                                                                      of
                                                                                                                      the
                                                                                                                      Employer
                                                                                                                      by
                                                                                                                      any
                                                                                                                      one
                                                                                                                      member
                                                                                                                      of
                                                                                                                      the
                                                                                                                      Committee.

                                                                                                                  

                                                                                                          

                                                                                                           

                                                                                                          
                                                                                                            	 	
                                                                                                                    (b)

                                                                                                                  	
                                                                                                                    No
                                                                                                                      amendment
                                                                                                                      to
                                                                                                                      the
                                                                                                                      Plan
                                                                                                                      (a)
                                                                                                                      shall
                                                                                                                      have
                                                                                                                      the
                                                                                                                      effect
                                                                                                                      of
                                                                                                                      vesting
                                                                                                                      in
                                                                                                                      the
                                                                                                                      Employer
                                                                                                                      any
                                                                                                                      interest
                                                                                                                      in
                                                                                                                      the
                                                                                                                      Trust;
                                                                                                                      or
                                                                                                                      (b)
                                                                                                                      shall
                                                                                                                      cause
                                                                                                                      or
                                                                                                                      permit
                                                                                                                      the
                                                                                                                      Trust
                                                                                                                      or
                                                                                                                      any
                                                                                                                      part
                                                                                                                      thereof
                                                                                                                      to
                                                                                                                      be
                                                                                                                      diverted
                                                                                                                      to
                                                                                                                      purposes
                                                                                                                      other
                                                                                                                      than
                                                                                                                      the
                                                                                                                      exclusive
                                                                                                                      benefit
                                                                                                                      of
                                                                                                                      the
                                                                                                                      present
                                                                                                                      or
                                                                                                                      future
                                                                                                                      Participants
                                                                                                                      and
                                                                                                                      their
                                                                                                                      Beneficiaries
                                                                                                                      and
                                                                                                                      Alternate
                                                                                                                      Payees;
                                                                                                                      or
                                                                                                                      (c)
                                                                                                                      shall
                                                                                                                      increase
                                                                                                                      the
                                                                                                                      duties
                                                                                                                      or
                                                                                                                      obligations
                                                                                                                      of
                                                                                                                      the
                                                                                                                      Trustee
                                                                                                                      without
                                                                                                                      its
                                                                                                                      written
                                                                                                                      consent.

                                                                                                                  

                                                                                                          

                                                                                                          
                                                                                                             

                                                                                                            
                                                                                                                      14.3    Plan
                                                                                                                Termination:
                                                                                                                Discontinuance
                                                                                                                of
                                                                                                                Employer
                                                                                                                Contributions.

                                                                                                              

                                                                                                                
                                                                                                                  	 	
                                                                                                                          (a)

                                                                                                                        	
                                                                                                                          The
                                                                                                                            Employer
                                                                                                                            has
                                                                                                                            established
                                                                                                                            the
                                                                                                                            Plan
                                                                                                                            with
                                                                                                                            the
                                                                                                                            bona
                                                                                                                            fide
                                                                                                                            intention
                                                                                                                            and
                                                                                                                            expectation
                                                                                                                            that
                                                                                                                            from
                                                                                                                            year
                                                                                                                            to
                                                                                                                            year
                                                                                                                            it
                                                                                                                            will
                                                                                                                            make
                                                                                                                            its
                                                                                                                            contributions
                                                                                                                            to
                                                                                                                            the
                                                                                                                            Trust
                                                                                                                            under
                                                                                                                            the
                                                                                                                            Plan
                                                                                                                            as
                                                                                                                            herein
                                                                                                                            provided.
                                                                                                                            However,
                                                                                                                            the
                                                                                                                            Employer
                                                                                                                            is
                                                                                                                            not
                                                                                                                            and
                                                                                                                            shall
                                                                                                                            not
                                                                                                                            be
                                                                                                                            under
                                                                                                                            any
                                                                                                                            obligation
                                                                                                                            or
                                                                                                                            liability
                                                                                                                            whatsoever
                                                                                                                            to
                                                                                                                            continue
                                                                                                                            its
                                                                                                                            contributions
                                                                                                                            or
                                                                                                                            to
                                                                                                                            maintain
                                                                                                                            the
                                                                                                                            Plan
                                                                                                                            for
                                                                                                                            any
                                                                                                                            given
                                                                                                                            length
                                                                                                                            of
                                                                                                                            time,
                                                                                                                            and
                                                                                                                            the
                                                                                                                            Employer
                                                                                                                            reserves
                                                                                                                            the
                                                                                                                            right,
                                                                                                                            in
                                                                                                                            its
                                                                                                                            sole
                                                                                                                            and
                                                                                                                            absolute
                                                                                                                            discretion,
                                                                                                                            to
                                                                                                                            terminate
                                                                                                                            the
                                                                                                                            Plan
                                                                                                                            at
                                                                                                                            any
                                                                                                                            time
                                                                                                                            without
                                                                                                                            any
                                                                                                                            liability
                                                                                                                            whatsoever
                                                                                                                            to
                                                                                                                            any
                                                                                                                            Employee,
                                                                                                                            Participant,
                                                                                                                            Beneficiary
                                                                                                                            or
                                                                                                                            Alternate
                                                                                                                            Payee
                                                                                                                            for
                                                                                                                            such
                                                                                                                            termination.

                                                                                                                        

                                                                                                                

                                                                                                                 

                                                                                                                
                                                                                                                  	 	
                                                                                                                          (b)

                                                                                                                        	
                                                                                                                          Upon
                                                                                                                            the
                                                                                                                            complete
                                                                                                                            or
                                                                                                                            partial
                                                                                                                            termination
                                                                                                                            of
                                                                                                                            the
                                                                                                                            Plan
                                                                                                                            or
                                                                                                                            the
                                                                                                                            complete
                                                                                                                            discontinuance
                                                                                                                            of
                                                                                                                            Employer
                                                                                                                            contributions
                                                                                                                            under
                                                                                                                            the
                                                                                                                            Plan,
                                                                                                                            the
                                                                                                                            Accrued
                                                                                                                            Benefit
                                                                                                                            of
                                                                                                                            all
                                                                                                                            active
                                                                                                                            Participants
                                                                                                                            affected
                                                                                                                            thereby
                                                                                                                            shall
                                                                                                                            become
                                                                                                                            fully
                                                                                                                            vested
                                                                                                                            and
                                                                                                                            nonforfeitable,
                                                                                                                            and
                                                                                                                            the
                                                                                                                            Committee
                                                                                                                            shall
                                                                                                                            direct
                                                                                                                            the
                                                                                                                            Trustee
                                                                                                                            to
                                                                                                                            distribute
                                                                                                                            assets
                                                                                                                            remaining
                                                                                                                            in
                                                                                                                            the
                                                                                                                            Trust,
                                                                                                                            after
                                                                                                                            payment
                                                                                                                            of
                                                                                                                            any
                                                                                                                            expenses
                                                                                                                            properly
                                                                                                                            chargeable
                                                                                                                            thereto,
                                                                                                                            to
                                                                                                                            Participants
                                                                                                                            or
                                                                                                                            their
                                                                                                                            Beneficiaries.
                                                                                                                            

                                                                                                                        

                                                                                                                

                                                                                                                

                                                                                                                  14.4  
Successor
                                                                                                                    Employer.  
In
                                                                                                                    the
                                                                                                                    event
                                                                                                                    of
                                                                                                                    the
                                                                                                                    dissolution,
                                                                                                                    merger,
                                                                                                                    consolidation
                                                                                                                    or
                                                                                                                    reorganization
                                                                                                                    of
                                                                                                                    the
                                                                                                                    Employer,
                                                                                                                    provision
                                                                                                                    may
                                                                                                                    be
                                                                                                                    made
                                                                                                                    by
                                                                                                                    which
                                                                                                                    the
                                                                                                                    Plan
                                                                                                                    and
                                                                                                                    Trust
                                                                                                                    shall
                                                                                                                    be
                                                                                                                    continued
                                                                                                                    by
                                                                                                                    a
                                                                                                                    successor
                                                                                                                    Employer,
                                                                                                                    in
                                                                                                                    which
                                                                                                                    case
                                                                                                                    such
                                                                                                                    successor
                                                                                                                    Employer
                                                                                                                    shall
                                                                                                                    be
                                                                                                                    substituted
                                                                                                                    for
                                                                                                                    the
                                                                                                                    Employer
                                                                                                                    under
                                                                                                                    the
                                                                                                                    Plan.
                                                                                                                    The
                                                                                                                    substitution
                                                                                                                    of
                                                                                                                    the
                                                                                                                    successor
                                                                                                                    Employer
                                                                                                                    shall
                                                                                                                    constitute
                                                                                                                    an
                                                                                                                    assumption
                                                                                                                    of
                                                                                                                    Plan
                                                                                                                    liabilities
                                                                                                                    by
                                                                                                                    the
                                                                                                                    successor
                                                                                                                    Employer,
                                                                                                                    and
                                                                                                                    the
                                                                                                                    successor
                                                                                                                    Employer
                                                                                                                    shall
                                                                                                                    have
                                                                                                                    all
                                                                                                                    powers,
                                                                                                                    duties
                                                                                                                    and
                                                                                                                    responsibilities
                                                                                                                    of
                                                                                                                    the
                                                                                                                    Employer
                                                                                                                    under
                                                                                                                    the
                                                                                                                    Plan.

                                                                                                                   

                                                                                                                  14.5   Merger,
                                                                                                                    Consolidation
                                                                                                                    or
                                                                                                                    Transfer. 
                                                                                                                    The
                                                                                                                    Plan
                                                                                                                    may
                                                                                                                    be
                                                                                                                    merged
                                                                                                                    or
                                                                                                                    consolidated
                                                                                                                    with,
                                                                                                                    or
                                                                                                                    its
                                                                                                                    assets
                                                                                                                    and
                                                                                                                    liabilities
                                                                                                                    may
                                                                                                                    be
                                                                                                                    transferred
                                                                                                                    to,
                                                                                                                    any
                                                                                                                    other
                                                                                                                    plan
                                                                                                                    only
                                                                                                                    if
                                                                                                                    the
                                                                                                                    benefits
                                                                                                                    which
                                                                                                                    would
                                                                                                                    be
                                                                                                                    received
                                                                                                                    by
                                                                                                                    a
                                                                                                                    Participant
                                                                                                                    in
                                                                                                                    the
                                                                                                                    event
                                                                                                                    of
                                                                                                                    a
                                                                                                                    termination
                                                                                                                    of
                                                                                                                    the
                                                                                                                    Plan
                                                                                                                    immediately
                                                                                                                    after
                                                                                                                    such
                                                                                                                    transfer,
                                                                                                                    merger
                                                                                                                    or
                                                                                                                    consolidation
                                                                                                                    are
                                                                                                                    at
                                                                                                                    least
                                                                                                                    equal
                                                                                                                    to
                                                                                                                    the
                                                                                                                    benefits
                                                                                                                    such
                                                                                                                    Participant
                                                                                                                    would
                                                                                                                    have
                                                                                                                    received
                                                                                                                    if
                                                                                                                    the
                                                                                                                    Plan
                                                                                                                    had
                                                                                                                    terminated
                                                                                                                    immediately
                                                                                                                    prior
                                                                                                                    to
                                                                                                                    the
                                                                                                                    transfer,
                                                                                                                    merger
                                                                                                                    or
                                                                                                                    consolidation.

                                                                                                                  

                                                                                                                    ARTICLE XV

                                                                                                                    MISCELLANEOUS
                                                                                                                      PROVISIONS

                                                                                                                     

                                                                                                                    

                                                                                                                      15.1   Exclusive
                                                                                                                        Benefit
                                                                                                                        of
                                                                                                                        Participants
                                                                                                                        and
                                                                                                                        Beneficiaries.

                                                                                                                      

                                                                                                                        
                                                                                                                          	 	
                                                                                                                                  (a)

                                                                                                                                	
                                                                                                                                  All
                                                                                                                                    assets
                                                                                                                                    of
                                                                                                                                    the
                                                                                                                                    Trusts
                                                                                                                                    shall
                                                                                                                                    be
                                                                                                                                    retained
                                                                                                                                    for
                                                                                                                                    the
                                                                                                                                    exclusive
                                                                                                                                    benefit
                                                                                                                                    of
                                                                                                                                    Participants
                                                                                                                                    and
                                                                                                                                    their
                                                                                                                                    Beneficiaries,
                                                                                                                                    and
                                                                                                                                    shall
                                                                                                                                    be
                                                                                                                                    used
                                                                                                                                    only
                                                                                                                                    to
                                                                                                                                    pay
                                                                                                                                    benefits
                                                                                                                                    to
                                                                                                                                    such
                                                                                                                                    persons
                                                                                                                                    or
                                                                                                                                    to
                                                                                                                                    pay
                                                                                                                                    reasonable
                                                                                                                                    fees
                                                                                                                                    and
                                                                                                                                    expenses
                                                                                                                                    of
                                                                                                                                    the
                                                                                                                                    Trusts
                                                                                                                                    and
                                                                                                                                    of
                                                                                                                                    the
                                                                                                                                    administration
                                                                                                                                    of
                                                                                                                                    the
                                                                                                                                    Plan.
                                                                                                                                    The
                                                                                                                                    assets
                                                                                                                                    of
                                                                                                                                    the
                                                                                                                                    Trusts
                                                                                                                                    shall
                                                                                                                                    not
                                                                                                                                    revert
                                                                                                                                    to
                                                                                                                                    the
                                                                                                                                    benefit
                                                                                                                                    of
                                                                                                                                    the
                                                                                                                                    Employer,
                                                                                                                                    except
                                                                                                                                    as
                                                                                                                                    otherwise
                                                                                                                                    specifically
                                                                                                                                    provided
                                                                                                                                    in
                                                                                                                                    Section
                                                                                                                                    15.1(b)
                                                                                                                                    of
                                                                                                                                    the
                                                                                                                                    Plan.

                                                                                                                                

                                                                                                                        

                                                                                                                         

                                                                                                                        
                                                                                                                          	 	
                                                                                                                                  (b)

                                                                                                                                	
                                                                                                                                  Contributions
                                                                                                                                    to
                                                                                                                                    the
                                                                                                                                    Trusts
                                                                                                                                    under
                                                                                                                                    this
                                                                                                                                    Plan
                                                                                                                                    are
                                                                                                                                    subject
                                                                                                                                    to
                                                                                                                                    the
                                                                                                                                    following
                                                                                                                                    conditions:

                                                                                                                                

                                                                                                                        

                                                                                                                         

                                                                                                                        
                                                                                                                          	 	
                                                                                                                                  (1)

                                                                                                                                	
                                                                                                                                  If
                                                                                                                                    a
                                                                                                                                    contribution
                                                                                                                                    or
                                                                                                                                    any
                                                                                                                                    part
                                                                                                                                    thereof
                                                                                                                                    is
                                                                                                                                    made
                                                                                                                                    to
                                                                                                                                    the
                                                                                                                                    Trusts
                                                                                                                                    by
                                                                                                                                    the
                                                                                                                                    Employer
                                                                                                                                    under
                                                                                                                                    a
                                                                                                                                    mistake
                                                                                                                                    of
                                                                                                                                    fact,
                                                                                                                                    such
                                                                                                                                    contribution
                                                                                                                                    or
                                                                                                                                    part
                                                                                                                                    thereof
                                                                                                                                    shall
                                                                                                                                    be
                                                                                                                                    returned
                                                                                                                                    to
                                                                                                                                    the
                                                                                                                                    Employer
                                                                                                                                    within
                                                                                                                                    one
                                                                                                                                    year
                                                                                                                                    after
                                                                                                                                    the
                                                                                                                                    date
                                                                                                                                    the
                                                                                                                                    contribution
                                                                                                                                    is
                                                                                                                                    made;

                                                                                                                                

                                                                                                                        

                                                                                                                         

                                                                                                                        
                                                                                                                          	 	
                                                                                                                                  (2)

                                                                                                                                	
                                                                                                                                  Contributions
                                                                                                                                    to
                                                                                                                                    the
                                                                                                                                    Trusts
                                                                                                                                    are
                                                                                                                                    specifically
                                                                                                                                    conditioned
                                                                                                                                    on
                                                                                                                                    their
                                                                                                                                    deductibility
                                                                                                                                    under
                                                                                                                                    Section
                                                                                                                                    404
                                                                                                                                    of
                                                                                                                                    the
                                                                                                                                    Code
                                                                                                                                    and,
                                                                                                                                    to
                                                                                                                                    the
                                                                                                                                    extent
                                                                                                                                    a
                                                                                                                                    deduction
                                                                                                                                    is
                                                                                                                                    disallowed
                                                                                                                                    for
                                                                                                                                    any
                                                                                                                                    such
                                                                                                                                    contribution,
                                                                                                                                    such
                                                                                                                                    amount
                                                                                                                                    shall
                                                                                                                                    be
                                                                                                                                    returned
                                                                                                                                    to
                                                                                                                                    the
                                                                                                                                    Employer
                                                                                                                                    within
                                                                                                                                    one
                                                                                                                                    year
                                                                                                                                    after
                                                                                                                                    the
                                                                                                                                    date
                                                                                                                                    of
                                                                                                                                    the
                                                                                                                                    disallowance
                                                                                                                                    of
                                                                                                                                    the
                                                                                                                                    deduction.

                                                                                                                                

                                                                                                                        

                                                                                                                        

                                                                                                                          15.2   Nonguarantee
                                                                                                                            of
                                                                                                                            Employment.  
                                                                                                                            Nothing
                                                                                                                            contained
                                                                                                                            in
                                                                                                                            this
                                                                                                                            Plan
                                                                                                                            shall
                                                                                                                            be
                                                                                                                            construed
                                                                                                                            as
                                                                                                                            a
                                                                                                                            contract
                                                                                                                            of
                                                                                                                            employment
                                                                                                                            between
                                                                                                                            the
                                                                                                                            Employer
                                                                                                                            and
                                                                                                                            any
                                                                                                                            Employee,
                                                                                                                            or
                                                                                                                            as
                                                                                                                            a
                                                                                                                            right
                                                                                                                            of
                                                                                                                            any
                                                                                                                            Employee
                                                                                                                            to
                                                                                                                            be
                                                                                                                            continued
                                                                                                                            in
                                                                                                                            the
                                                                                                                            employment
                                                                                                                            of
                                                                                                                            the
                                                                                                                            Employer,
                                                                                                                            or
                                                                                                                            as
                                                                                                                            a
                                                                                                                            limitation
                                                                                                                            of
                                                                                                                            the
                                                                                                                            right
                                                                                                                            of
                                                                                                                            the
                                                                                                                            Employer
                                                                                                                            to
                                                                                                                            discharge
                                                                                                                            any
                                                                                                                            of
                                                                                                                            its
                                                                                                                            Employees,
                                                                                                                            with
                                                                                                                            or
                                                                                                                            without
                                                                                                                            cause.

                                                                                                                           

                                                                                                                          15.3   Rights
                                                                                                                            to
                                                                                                                            Trust
                                                                                                                            Assets.  
                                                                                                                            No
                                                                                                                            Employee,
                                                                                                                            Participant
                                                                                                                            or
                                                                                                                            Beneficiary
                                                                                                                            shall
                                                                                                                            have
                                                                                                                            any
                                                                                                                            right
                                                                                                                            to,
                                                                                                                            or
                                                                                                                            interest
                                                                                                                            in,
                                                                                                                            any
                                                                                                                            assets
                                                                                                                            of
                                                                                                                            the
                                                                                                                            Trusts
                                                                                                                            upon
                                                                                                                            termination
                                                                                                                            of
                                                                                                                            employment
                                                                                                                            or
                                                                                                                            otherwise,
                                                                                                                            except
                                                                                                                            as
                                                                                                                            provided
                                                                                                                            under
                                                                                                                            the
                                                                                                                            Plan.
                                                                                                                            All
                                                                                                                            payments
                                                                                                                            of
                                                                                                                            benefits
                                                                                                                            under
                                                                                                                            the
                                                                                                                            Plan
                                                                                                                            shall
                                                                                                                            be
                                                                                                                            made
                                                                                                                            solely
                                                                                                                            out
                                                                                                                            of
                                                                                                                            the
                                                                                                                            assets
                                                                                                                            of
                                                                                                                            the
                                                                                                                            Trusts.

                                                                                                                           

                                                                                                                          15.4   Nonalienation
                                                                                                                            of
                                                                                                                            Benefits.  
                                                                                                                            Except
                                                                                                                            as
                                                                                                                            provided
                                                                                                                            under
                                                                                                                            Article
                                                                                                                            IX
                                                                                                                            of
                                                                                                                            the
                                                                                                                            Plan
                                                                                                                            with
                                                                                                                            respect
                                                                                                                            to
                                                                                                                            Plan
                                                                                                                            loans,
                                                                                                                            benefits
                                                                                                                            payable
                                                                                                                            under
                                                                                                                            the
                                                                                                                            Plan
                                                                                                                            shall
                                                                                                                            not
                                                                                                                            be
                                                                                                                            subject
                                                                                                                            in
                                                                                                                            any
                                                                                                                            manner
                                                                                                                            to
                                                                                                                            anticipation,
                                                                                                                            alienation,
                                                                                                                            sale,
                                                                                                                            transfer,
                                                                                                                            assignment,
                                                                                                                            pledge,
                                                                                                                            encumbrance,
                                                                                                                            charge,
                                                                                                                            garnishment,
                                                                                                                            execution
                                                                                                                            or
                                                                                                                            levy
                                                                                                                            of
                                                                                                                            any
                                                                                                                            kind,
                                                                                                                            voluntary
                                                                                                                            or
                                                                                                                            involuntary;
                                                                                                                            provided,
                                                                                                                            however,
                                                                                                                            that
                                                                                                                            the
                                                                                                                            Committee
                                                                                                                            shall
                                                                                                                            not
                                                                                                                            be
                                                                                                                            hereby
                                                                                                                            precluded
                                                                                                                            from
                                                                                                                            complying
                                                                                                                            with
                                                                                                                            a
                                                                                                                            qualified
                                                                                                                            domestic
                                                                                                                            relations
                                                                                                                            order
                                                                                                                            described
                                                                                                                            in
                                                                                                                            Section
                                                                                                                            414(p)
                                                                                                                            of
                                                                                                                            the
                                                                                                                            Code.
                                                                                                                            Any
                                                                                                                            attempt
                                                                                                                            to
                                                                                                                            anticipate,
                                                                                                                            alienate,
                                                                                                                            sell,
                                                                                                                            transfer,
                                                                                                                            assign,
                                                                                                                            pledge,
                                                                                                                            encumber,
                                                                                                                            charge
                                                                                                                            or
                                                                                                                            otherwise
                                                                                                                            dispose
                                                                                                                            of
                                                                                                                            any
                                                                                                                            right
                                                                                                                            to
                                                                                                                            benefits
                                                                                                                            payable
                                                                                                                            hereunder
                                                                                                                            shall
                                                                                                                            be
                                                                                                                            void.
                                                                                                                            The
                                                                                                                            Trust
                                                                                                                            shall
                                                                                                                            not
                                                                                                                            in
                                                                                                                            any
                                                                                                                            manner
                                                                                                                            be
                                                                                                                            liable
                                                                                                                            for,
                                                                                                                            or
                                                                                                                            subject
                                                                                                                            to,
                                                                                                                            the
                                                                                                                            debts,
                                                                                                                            contracts,
                                                                                                                            liabilities,
                                                                                                                            engagements
                                                                                                                            or
                                                                                                                            torts
                                                                                                                            of
                                                                                                                            any
                                                                                                                            person
                                                                                                                            entitled
                                                                                                                            to
                                                                                                                            benefits
                                                                                                                            hereunder.

                                                                                                                           

                                                                                                                          15.5   Gender.   
                                                                                                                            The
                                                                                                                            use
                                                                                                                            of
                                                                                                                            the
                                                                                                                            masculine
                                                                                                                            pronoun
                                                                                                                            shall
                                                                                                                            extend
                                                                                                                            to
                                                                                                                            and
                                                                                                                            include
                                                                                                                            the
                                                                                                                            feminine
                                                                                                                            gender
                                                                                                                            wherever
                                                                                                                            appropriate,
                                                                                                                            the
                                                                                                                            use
                                                                                                                            of
                                                                                                                            the
                                                                                                                            singular
                                                                                                                            shall
                                                                                                                            include
                                                                                                                            the
                                                                                                                            plural
                                                                                                                            and
                                                                                                                            the
                                                                                                                            use
                                                                                                                            of
                                                                                                                            the
                                                                                                                            plural
                                                                                                                            shall
                                                                                                                            include
                                                                                                                            the
                                                                                                                            singular
                                                                                                                            wherever
                                                                                                                            appropriate.

                                                                                                                           

                                                                                                                          15.6   Titles
                                                                                                                            and
                                                                                                                            Headings.  
                                                                                                                            The
                                                                                                                            titles
                                                                                                                            or
                                                                                                                            headings
                                                                                                                            of
                                                                                                                            the
                                                                                                                            respective
                                                                                                                            Articles
                                                                                                                            and
                                                                                                                            Sections
                                                                                                                            are
                                                                                                                            inserted
                                                                                                                            merely
                                                                                                                            for
                                                                                                                            convenience
                                                                                                                            and
                                                                                                                            shall
                                                                                                                            be
                                                                                                                            given
                                                                                                                            no
                                                                                                                            legal
                                                                                                                            effect.

                                                                                                                          

                                                                                                                            THUS
                                                                                                                              DONE
                                                                                                                              AND
                                                                                                                              SIGNED
                                                                                                                              this
                                                                                                                              22nd
                                                                                                                              day
                                                                                                                              of
                                                                                                                              December,
                                                                                                                              2006.

                                                                                                                             

                                                                                                                            
                                                                                                                              	
                                                                                                                                      WITNESSES:

                                                                                                                                       

                                                                                                                                      /s/
                                                                                                                                        Vickie
                                                                                                                                        Sartor__________   

                                                                                                                                       

                                                                                                                                      /s/
                                                                                                                                        Sandra
                                                                                                                                        B.
                                                                                                                                        Post________   

                                                                                                                                       

                                                                                                                                    	
                                                                                                                                      CENTURYTEL,
                                                                                                                                        INC.

                                                                                                                                       

                                                                                                                                      By:
                                                                                                                                         /s/
                                                                                                                                        R.
                                                                                                                                        Stewart
                                                                                                                                        Ewing_________

                                                                                                                                      R.
                                                                                                                                        Stewart
                                                                                                                                        Ewing,
                                                                                                                                        Executive
                                                                                                                                        Vice

                                                                                                                                      President
                                                                                                                                        and
                                                                                                                                        Chief
                                                                                                                                        Financial
                                                                                                                                        Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00118-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00118-of-00352.parquet"}]]