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Exhibit 10.14    
  

EMPLOYMENT AGREEMENT  

        THIS EMPLOYMENT AGREEMENT (the "Agreement") is made and entered
into as of the 16th day of September, 2002 by and between Pacific Energy GP, Inc., a Delaware corporation, having its principal executive offices in Long Beach, California (the
"Company") and Lynn T. Wood, residing in Denver, Colorado (the "Executive"). 

        WHEREAS, the Executive has been employed by the Company to serve as its Vice President, Secretary and General Counsel; and 

        WHEREAS, the Company and the Executive mutually desire to formalize the employment arrangement of the Executive and to agree upon the
terms of the Executive's employment by the Company and, in addition, to agree as to certain benefits of said employment. 

        NOW, THEREFORE, in consideration of the mutual promises and agreements set forth below, the Company and the Executive hereby agree as
follows: 

        1.    TERM OF EMPLOYMENT: Subject to the terms of this Agreement, the Company hereby employs the Executive, and the Executive
hereby accepts such continuing employment, for the period beginning on September 16, 2002 and ending as provided herein in Paragraph 4 (the
"Term"). The Executive and the Company acknowledge that, except as may otherwise be provided under this Agreement, the employment of the Executive by
the Company is "at will", and the Executive's employment and/or this Agreement may be terminated by either the Executive or the Company at any time. The consequences of termination of employment are
as set forth in this Agreement. Portions of this Agreement that by their terms provide or imply that they survive the end of the Term shall survive the end of the Term. 

        2.    POSITION AND DUTIES:

        a.    Position: During the Term, the Executive shall serve as Vice President, Secretary and General Counsel of the Company. The
Executive shall report directly to the President and CEO of the Company and shall have such duties and responsibilities as are normally associated with the chief legal officer of a company and as
shall be assigned from time to time by the President, including, without limitation, general oversight of the Company's legal affairs, supervision of outside legal counsel, and providing the Company
and Pacific Energy Partners, L.P., a publicly traded limited partnership for which the Company is the general partner (the "Partnership"), advice and
counsel on corporate policies, tariff and regulatory issues, and general legal, tax, securities, insurance, audit and contract matters. The Executive will also perform such other duties and
responsibilities as may be assigned from time to time, including, without limitation, acting as an officer of one or more affiliates of the Company. The Executive shall perform his duties and
responsibilities at the Company's offices in Long Beach, California. For purposes of this Agreement, the term "employment" shall include the Executive's
service to the Company in any capacity during the Term, provided the foregoing shall not change the positions to be held by the Executive; and the term
"affiliate" of the Company means any company controlled by, controlling, or under common control with the Company or the Partnership, whether through
stock or other ownership or otherwise, and without limiting the foregoing, it is agreed that the Partnership and its subsidiaries are affiliates of the Company. 

        b.    Commitment of the Executive: During the Term, the Executive shall devote substantially his full business time, energy, and
ability to the business of the Company. 

        c.    Other Positions and Services: The Executive may (i) serve on civic or charitable boards or committees,
(ii) deliver lectures, fulfill speaking engagements, or teach at educational institutions (and retain any fees therefrom), and (iii) manage personal investments;  provided, however, that the Executive may not engage in any of the activities described in this
Paragraph 2

  
(c) to the extent such activities materially interfere with the performance of the Executive's duties and responsibilities to the Company. 

        d.    Investments: Without the prior express authorization of the Board, the Executive shall not, directly or indirectly, during
the Term (i) render services of a business, professional, or commercial nature to any other person or firm, whether for compensation or otherwise, or (ii) engage in any activity
competitive with the business of the Company or the business of any of its subsidiaries, present or future, or, to his knowledge, of any other affiliate of the Company, present or future, whether
alone, as a partner, or as an officer, director, employee, member or holder (directly or indirectly, such as by means of a trust or option arrangement). The Executive may be an investor, shareholder,
joint venturer, or partner (hereinafter referred to as "Investor"); provided, however, that his status
as an Investor shall not (i) pose a conflict of interest, (ii) require the Executive's active involvement in the management or operation of
such Investment (recognizing that the Executive shall be permitted to monitor and oversee the Investment), or (iii) materially interfere with the performance of the Executive's duties and
obligations hereunder. For the purposes of clause (i) of the proviso to the preceding sentence, the Executive shall not be deemed to be subject to a conflict of interest merely by reason
of the ownership of less than three percent (3%) of (i) the outstanding stock of any entity whose stock is traded on an established stock exchange or on the National Association of Securities
Dealers Automated Quotation System or (ii) the outstanding stock, partnership interests or other form of equity interest of any venture fund, investment pool or similar investment vehicle that
shall solicit investments on a "blind pool" basis. 

        e.    No Conflict: The Executive represents and warrants that, to the best of his knowledge after the review of his personal
files, he has the full right and authority to enter into this Agreement and to render the services as required under this Agreement, and that by signing this Agreement and rendering such services he
is not breaching any contract or legal obligation he owes to any third party. 

        3.    COMPENSATION AND BENEFITS: During the Term, while the Executive is employed by the Company, the Company shall compensate
the Executive for his services as set forth in this Paragraph 3. The Executive recognizes that during the Term, the Company reserves the right to change from time to time the terms and benefits
of any welfare or fringe benefit plan of the Company, including the right to change any service provider, so long as such changes are also generally applicable to all executives of the Company. 

        a.    Salary: During the Term, the Company shall pay the Executive a base salary at an annual rate of One Hundred and Seventy
Thousand Dollars ($170,000). Such salary shall be earned and shall be payable in periodic installments in accordance with the Company's payroll practices. Amounts payable shall be reduced by standard
withholding and other authorized deductions. The Board will review the Executive's salary at least annually and may increase (but not reduce) the Executive's annual base salary in its sole discretion.
Once increased such base salary shall not be reduced. His base salary as so increased shall thereafter be treated as his base salary hereunder. 

        b.    Annual Bonus: The Executive shall be eligible to receive an annual bonus in accordance with the Company's annual incentive
compensation program, as it may be modified from time to time by the Board. The Executive will be eligible to participate in the Company's annual incentive compensation program with a target bonus
opportunity of 25% of his annual base salary and a maximum annual bonus opportunity of 50% of annual base salary. Any bonus awarded to the Executive shall be paid in the same form and manner and at or
around the same time as such bonus payments are made to other senior executives of the Company. Executive shall be entitled to a bonus on account of his services in 2002 as though he were employed by
the Company for all of 2002.

 

        c.    Long-Term Incentive Compensation Program: The Executive shall be eligible to participate in the Company's
long-term incentive compensation program, and shall receive an initial award of 25,000
restricted units, subject to such terms and conditions as may be imposed by the Company's board of directors. If the Company establishes other incentive compensation programs, the Executive shall be
eligible to participate in the same manner as other senior executives of the Company. 

        d.    Savings and Investment Plans: The Executive shall be entitled to participate in all savings and investment plans
applicable generally to other senior executives of the Company, in accordance with the terms of such plans, as may be amended from time to time. 

        e.    Welfare Benefit Plans: The Executive and/or his family, as the case may be, shall be eligible to participate in and shall
receive all benefits under the Company's welfare benefit plans and programs applicable generally to other senior executives of the Company (collectively, as amended from time to time, the
"Company Plans"), in accordance with the terms of the Company Plans. 

        f.      Vacation: Beginning with the date of Executive's employment, the Executive shall be entitled to paid vacation at a rate of
twenty (20) days per calendar year during the Term in accordance with the plans, policies, and programs as in effect generally with respect to other senior executives of the Company, including
the limitations, if any, on the carry-over of accrued but unused vacation time. 

        g.    Expenses: The Company shall reimburse the Executive for reasonable expenses for cellular telephone usage, entertainment,
travel, meals, lodging, and similar items incurred in the conduct of the Company business. Such expenses shall be reimbursed in accordance with the Company's expense reimbursement policies and
guidelines. 

        h.    Officers and Directors Liability Insurance; Indemnification: The Company shall obtain and continue in full force and
effect appropriate director and officer liability insurance in such amounts and with such terms and provisions as the Board shall determine in its sole discretion ("D&O
Insurance"). To the fullest extent permitted by the indemnification provisions of the Company's governing instruments in effect as of the date of this Agreement and the
indemnification provisions of the governing laws of the jurisdiction of the Company's formation in effect from time to time (collectively, the "Indemnification
Provisions"), and in each case subject to the conditions thereof, the Company shall (i) indemnify the Executive, as a director and officer of the Company or an affiliate
of the Company or a trustee or fiduciary of an employee benefit plan of the Company or an affiliate of the Company, or, if the Executive shall be serving in such capacity at the Company's written
request, as a director or officer of any other corporation (other than an affiliate of the Company) or as a trustee or fiduciary of an employee benefit plan not sponsored by the Company or an
affiliate of the Company, against all liabilities and reasonable expenses that may be incurred by the Executive in any threatened, pending, or completed action, suit or proceeding, whether civil,
criminal or administrative, or investigative and whether formal or informal, because the Executive is or was a director or officer of the Company, a director or officer of such other corporation or a
trustee or fiduciary of such employee benefit plan, and against which the Executive may be indemnified by the Company, and (ii) pay for or reimburse the reasonable expenses incurred by the
Executive in the defense of any proceeding to which the Executive is a party because the Executive is or was a director or officer of the Company, a director or officer of such other corporation or a
trustee or fiduciary of such employee benefit plan. The rights of the
Executive under the Indemnification Provisions shall survive the termination of the employment of the Executive by the Company. 

        i.      Automobile: The Executive shall be provided with a Company provided vehicle for which the Company will pay all lease costs
and all operating expenses, including fuel and maintenance,

  
but excluding the cost of insurance. The automobile to be provided to Executive shall be mutually agreed upon by the Company and the Executive. 

        j.      Moving Expenses: The Company shall reimburse the Executive for all reasonable expenses incurred by the Executive for
(1) the Executive's temporary housing and living expenses and weekly travel between Los Angeles, California and Denver, Colorado, (2) for spousal and family travel to Los Angeles for the
purpose of securing a permanent residence in the Los Angeles area, and (3) expenses incurred in connection with the sale of the Executive's residence (including realtor fees) in Denver and the
move of his household to the Los Angeles area. A tax gross-up will be provided for any reimbursements that are taxable to the Executive. 

        4.    TERMINATION: The Executive's employment with the Company during the Term may be terminated by the Company or the Executive
only under the circumstances described in this Paragraph 4, and subject to the provisions of Paragraph 5: 

        a.    Death or Disability: The Executive's employment hereunder shall terminate automatically upon the Executive's death. If the
Disability of the Executive has occurred (pursuant to the definition of Disability set forth below), the Company may give to the Executive written notice of its intention to terminate the Executive's
employment. In such event, the Executive's employment with the Company shall terminate effective on the 10th day after receipt of such notice by the Executive (the "Disability
Effective Date"), provided that, within the 10-day period after such receipt, the Executive shall not have returned to full-time performance of the
Executive's material duties. For purposes of this Agreement, "Disability" shall mean any physical or mental condition which prevents the Executive, for
a period of 180 consecutive days, from performing and carrying out his material duties and responsibilities with the Company. 

        b.    Cause: The Company may immediately terminate this Agreement for "Cause" by giving written notice to the Executive. Any one
or more of the following events shall constitute "Cause": 

        (i)    any
material breach of the representations of the Executive set forth in Paragraph 2(e); 

        (ii)  any
willful misconduct with respect to the Company which is materially detrimental to the Company and its subsidiaries in the aggregate, including but not limited to
theft or dishonesty (other than good faith expense account disputes); 

        (iii)  conviction
of (or pleading nolo contendere to) a felony, other than (A) a traffic violation that is in most
jurisdictions not classified as a felony and (B) a felony resulting from vicarious (rather than direct) liability arising out of his position as an officer or director of the Company; 

        (iv)  failure
or refusal to attempt to follow the written directions of the Board within a reasonable period after receiving written notice; or 

        (v)  gross
continuous nonfeasance with regard to the Executive's duties, taken as a whole, which materially continue after a written notice thereof is given to the Executive. 

        c.    Other than Death or Disability or Cause: The Company may terminate the Executive's employment upon written notice to the
Executive at any time and for any reason other than Death, Disability, or Cause, subject to the provisions of Paragraph 5(c). 

        d.    Termination by Executive: The Executive may terminate his employment upon written notice to the Company at any time and
for any reason. 

        e.    Resignations: On and as of the date that the employment of the Executive by the Company shall terminate for any reason,
the Executive shall resign from his position as a director,

  
officer and employee of the Company and from all other positions he holds as a director, officer or employee of any subsidiary or affiliate of the Company. 

        5.    OBLIGATIONS OF THE COMPANY AND THE EXECUTIVE UPON TERMINATION:

        a.    Death or Disability: If the Executive's employment is terminated by reason of the Executive's death or Disability during
the Term, the Term shall terminate without further obligations to the Executive or his legal representatives under this Agreement, other than for (A) payment of the sum of (i) any base
salary and bonus owed to the Executive through the date of termination (provided that for this purpose the amount of such bonus shall be calculated
based on the number of days in the year through the date of termination, as well as any earned bonus for any complete year that theretofore had not been paid) and (ii) any other
compensation earned through the date of termination but not yet paid or delivered to
the Executive ("Accrued Obligations"), and (B) payment of any amounts due pursuant to the terms of any applicable equity-based plan of the
Company or any welfare or pension benefit plan of the Company as of the date of termination or which by their specific terms extend beyond such date of termination, and (C) payments due, if
any, and continuation of coverage (collectively, "Indemnification/Insurance Payments"), pursuant to the Indemnification Provisions and D&O Insurance.
All such payments shall be paid to the Executive or his estate or beneficiary, as applicable. 

        b.    Termination for Cause: If the Executive's employment is terminated by the Company for Cause, the Term shall terminate
without further obligations to the Executive or his legal representatives under this Agreement on the date of such termination and no further payments or benefits of any kind, including salary,
bonuses and any unpaid amount of the Equalization Payment, shall be payable to the Executive, other than for (i) Accrued Obligations and (ii) the payments and benefits provided in
Paragraph 5(e). 

        c.    Other than Death or Disability or Cause:

        (i)    In General: Except as provided in Paragraph 5(c)(ii) below, if the Company terminates the Executive's
employment during the Term for any reason other than Death or Disability, or Cause, the Term shall terminate on the date of such termination without further obligation to the Executive other than
(A) Accrued Obligations, (B) payment of any amounts due pursuant to the terms of any applicable equity-based plan of the Company or any welfare or pension benefit plan of the Company as
of the date of termination or which by their specific terms extend beyond such date of termination, (C) payment to the Executive, within thirty (30) days of the date of termination, of a
lump sum equal to the sum of (1) six (6) months of the Executive's then current annual base salary, and (2) an amount equal to 50% of the maximum bonus opportunity under the
Company's annual bonus incentive compensation plan for a period of six months, and (D) payment of Indemnification/Insurance Payments. The Company shall be obligated to make the foregoing
payments and to provide the foregoing benefits upon the Executive and the Company signing a mutual release of all claims against the other in the form provided by the Company; such release shall not
affect the Executive's rights (x) under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA") and (y) any conversion rights
under any applicable life insurance policies. The Release to be provided by the Company shall, if applicable, give the Executive appropriate notifications under the Age Discrimination in Employment
Act, as amended by the Older Workers Benefit Protection Act. 

        (ii)  Following a "change of control" or corporate downsizing: If the Company terminates the Executive's employment during the
Term following a "Change of Control" of the Company, as defined herein, or because of the elimination of the Executive's position or reassignment of the Executive to another position because of a
decision to reduce the Company's operations and the number of employees, the Term shall terminate on the date of

  
such termination without further obligation to the Executive other than (A) Accrued Obligations, (B) payment of any amounts due pursuant to the terms of any applicable equity-based plan
of the Company or any welfare or pension benefit plan of the Company as of the date of termination or which by their specific terms extend beyond such date of termination, (C) payment to the
Executive, within thirty (30) days of the date of termination, of a lump sum equal to the sum of (1) one times the
Executive's then current annual base salary and (2) one times the Executive's target bonus (50% of maximum bonus opportunity) for the year of termination under the Company's annual bonus
incentive compensation plan, (D) subject to the terms of the applicable plans (or equivalent substitute(s) if the plan(s) prohibit participation by ex-employees), continuation of
the benefits provided by Paragraph 3(e) of this Agreement for one year following the date of termination (or such short period as shall terminate on the date that the Executive shall
commence his next employment), (E) three months of executive outplacement services to be provided at the cost of the Company, and (F) payment of Indemnification/Insurance
Payments. The Company shall be obligated to make the foregoing payments and to provide the foregoing benefits upon the Executive and the Company signing a mutual release of all claims against the
other in a form to be provided by the Company; such release shall not effect the Executive's rights (x) under COBRA and (y) any conversion rights under any applicable life insurance
policies. For purposes of this Agreement, a "Change of Control" of the Company shall be deemed to have occurred if either (a) any individual,
entity, or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934 (the "1934 Act"), other
than Anschutz Company, The Anschutz Corporation, or any entity or organization controlled by Philip F. Anschutz (collectively, the "Anschutz Entities"),
acquires beneficial ownership (within the meaning of Rule 13d-3 promulgated under the 1934 Act) of twenty percent (20%) or more of either (1) the then-outstanding
equity securities of the Company ("Outstanding Securities") or (2) the combined voting power of the then-outstanding voting
securities of the Company entitled to vote generally in the election of directors or their equivalent ("Voting Power") and such beneficial ownership (as
so defined) by such individual, entity or group of twenty percent (20%) or more of the Outstanding Securities or the Voting Power, as the case may be, shall then exceed the beneficial ownership (as so
defined) by the Anschutz Entities of the Outstanding Securities or the Voting Power, respectively, or (b) the Anschutz Entities no longer have beneficial ownership (as so defined) of twenty
percent (20%) or more of either the Outstanding Securities or the Voting Power. 

        d.    Termination by Executive:

        (i)    In General: Except as provided below in Paragraph 5(d)(ii) if the Executive terminates his employment for
any reason, the Term shall terminate without further obligation to the Executive on the date of such termination and no further payments or benefits of any kind, including salary or bonuses shall be
payable to the Executive, other than for (A) Accrued Obligations and (B) the payments and benefits provided in Paragraph 5(e). 

        (ii)  Following a Change of Control: If the Executive terminates his employment, following a change of control (as defined in
Paragraph 5(c)(ii) above) for "Good Reason", the Executive shall be entitled to the payments, benefits and other compensation provided above in Paragraph 5(c)(ii) in the
case of termination by the Company following a change of control. For purposes of this Agreement, the Executive's termination of employment with the Company shall be on account of
"Good Reason" if it occurs for any of the following reasons: (A) a demotion in rank, title, responsibility or authority; (B) the
assignment to the Executive, following a change of control, of any duties inconsistent in any respect with the Executive's position (including status, offices, titles and reporting requirements),
authority, duties or responsibilities as contemplated by Paragraph 2 of this Agreement, or any other action by the

  
Company which results in a diminution in such position, authority, duties or responsibilities, excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith and
which is
remedied by the Company promptly after receipt of such notice thereof given by the Executive; (C) any failure by the Company to comply with any of the provisions of Paragraph 3 of this
Agreement, including but not limited to the failure by the Company to pay the Executive any portion of his compensation or to provide an annual bonus under terms (including but not limited to
measures, targets and payout potential) at least as favorable as the terms for such bonus as in effect during the Company's fiscal year immediately prior to the date of the Change of Control, other
than an isolated, insubstantial and inadvertent failure not occurring in bad faith and which is remedied by the Company promptly after receipt of notice thereof given by the Executive; (D) the
Company's requiring the Executive to be based at any office or location other than as provided in Paragraph 2(a) hereof for more than 60 days; or (E) any failure by the
Company to comply with and satisfy Paragraph 8 of this Agreement. 

        Provided,
however, that Executive may not terminate his employment for "Good Reason" as defined herein, unless and until he has given the Company written notice of the reason or reasons
why he believes there is "Good Reason" to terminate his employment, and thereafter gives the Company a minimum of forty-five (45) days to cure the alleged act or failure which the
Executive believes constitutes "Good Reason" for termination. In the absence of such written notice and opportunity by the Company to cure, there can be no termination by Executive for "Good Reason"
as defined herein. 

        If
an event constituting Good Reason occurs prior to a Change of Control but after there is knowledge of a potential Change of Control, it shall be deemed to constitute Good Reason for
purposes of this Agreement, provided notice is given and the Company is given an opportunity to cure. 

        e.    Exclusive Remedy: Except for the payments and benefits provided in this Paragraph 5, the Executive acknowledges and
agrees that upon termination of the Term, he shall have no other claims against, and be entitled to no other payments or benefits from, the Company under this Agreement or pursuant to the Company's
policies and plans, other than (A) the Executive's rights under COBRA, (B) any conversion rights under any applicable life insurance policies, (C) payment of any amounts due
pursuant to the terms of any equity-based plan of the Company or any welfare or pension benefit plan of the Company as of the date of termination or which by their specific terms extend such date of
termination and (D) rights with respect to Indemnification/Insurance Payments. In no event shall the Executive be obligated to seek other employment or take any other action by way of
mitigation of the amounts payable to the Executive under any of the provisions of this Agreement and such amounts shall not be reduced whether or not the Executive obtains other employment. 

        6.    CONFIDENTIAL INFORMATION: During and after the Term, the Executive shall not use or disclose any secret, confidential,
and/or proprietary information, knowledge, or data relating to the Company, any of its subsidiaries or any of the other affiliates of the Company, present and future, and their respective businesses,
which shall have been obtained by the Executive during his employment by the Company, any of its subsidiaries or any of the other affiliates of the Company and which shall not be or become public
knowledge (other than by acts by the Executive or his representatives in violation of this Agreement) provided that the Executive may, (a) while employed by the Company, disclose such
information, knowledge, or data as he in good faith deems appropriate and (b) otherwise comply with legal process, so long as Executive gives prompt notice to the Company of any required
disclosure and reasonably cooperates (without being required to incur any expense or subject himself to sanction or
penalty) with the Company if the Company determines to oppose, challenge, or quash the legal process.

 

        7.    NONSOLICITATION: The Executive agrees that during the Term of this Agreement and for a period of one (1) year
following the termination of the Term, he will not, directly or indirectly, knowingly solicit on behalf of any such entity any employee of the Company, any of its subsidiaries or any of its other
affiliates, present or future (while an affiliate), who is being compensated at a rate of Fifty Thousand Dollars ($50,000.00) or more per year as an employee of the Company, any of its subsidiaries,
or any of its other affiliates, present or future, to work for any individual or firm then in competition with the business of the Company, any of its subsidiaries or any other affiliate of the
Company, present or future. The Executive may give references with respect to such employees. 

        8.    SUCCESSORSHIP: This Agreement shall inure to the benefit of and be binding upon the Company and its successors and
permitted assigns and any such successor or permitted assignee shall be deemed substituted for the Company under the terms of this Agreement for all purposes. As used herein, "successor" and
"assignee" shall be limited to any person, firm, corporation, or other business entity which at any time, whether by purchase, merger, or otherwise, directly or indirectly acquires the stock of the
Company or to which the Company assigns this Agreement by operation of law or otherwise in connection with any sale of all or substantially all of the assets of the Company,  provided that any successor
or permitted assignee promptly assumes in a writing delivered to the Executive this Agreement and, in no event, shall any
such succession or assignment release the Company from its obligations thereunder. The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise)
to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be
required to perform it if no such succession had taken place. As used in this Agreement, "Company" shall mean the Company as herein before defined and
any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, or otherwise. 

        9.    ARBITRATION: Any and all controversies, claims, or disputes arising out of or in any way relating to this Agreement or the
termination thereof shall be resolved by final and binding arbitration in Los Angeles, California before a single arbitrator in accordance with the Commercial Arbitration Rules of the American
Arbitration Association (the "AAA"). The arbitration shall be commenced by filing a demand for arbitration with the AAA within eighteen
(18) months after the occurrence of the facts giving rise to any such controversy, claim, or dispute. The arbitrator shall decide all issues relating to arbitrability. The costs of such
arbitration, including the arbitrator's fees, shall be paid by the Company, except for a filing fee to be paid by Executive not to exceed $150.00. Each party to the arbitration shall be responsible
for the payment of its own attorneys' fees, provided that, if the Executive prevails as to any matter in any such arbitration, the Company shall pay the
reasonable attorneys' fees incurred by the Executive in connection with those matters on which he prevails, in an amount to be determined by the arbitrator. 

        10.  GOVERNING LAW: The provisions of this Agreement shall be construed in accordance with, and governed by, the laws of the
State of Colorado without regard to principles of conflict of laws. 

        11.  SAVINGS CLAUSE: If any provision of this Agreement or the application thereof is held invalid, the invalidity shall not
affect other provisions or applications of the Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Agreement are declared to be
severable. 

        12.  WAIVER OF BREACH: No waiver of any breach of any term or provision of this Agreement shall be construed to be, nor shall
be, a waiver of any other breach of this Agreement. No waiver shall be binding unless in writing and signed by the party waiving the breach. 

        13.  MODIFICATION: No provision of this Agreement may be amended, modified, or waived except by written agreement signed by
the parties hereto.

 

        14.  ASSIGNMENT OF AGREEMENT: The Executive acknowledges that his services are unique and personal. Accordingly, the Executive
may not assign his rights or delegate his duties or obligations under this Agreement to any person or entity; provided,  however, that payments may be made
to the Executive's estate or beneficiaries as expressly set forth herein. 

        15.  ENTIRE AGREEMENT: This Agreement is an integrated document and constitutes and contains the complete understanding and
agreement of the parties with respect to the subject matter addressed herein, and supersedes and replaces all prior negotiations and agreements, whether written or oral, concerning the subject matter
hereof, including, without limitation, that certain Memorandum Governing Employment of Lynn T. Wood, dated September 5, 2002. 

        16.  CONSTRUCTION: Each party has cooperated in the drafting and preparation of this Agreement. Hence, in any construction to
be made of this Agreement, the same shall not be construed against any party on the basis that the party was the drafter. The captions of this Agreement are not part of the provisions and shall have
no force or effect. 

        17.  NOTICES: Notices and all other communications provided for in this Agreement shall be in writing and shall be delivered
personally or sent by registered or certified mail, return receipt requested, postage prepaid, or sent by facsimile or prepaid overnight courier to the parties at the addresses set
forth below (or at such other addresses as shall be specified by the parties by like notice). Such notices, demands, claims, and other communications shall be deemed given: 

        a.    in
the case of delivery by overnight service with guaranteed next day delivery, such next day or the day designated for delivery; 

        b.    in
the case of certified or registered United States mail, five days after deposit in the United States mail; or 

        c.    in
the case of facsimile, the date upon which the transmitting party received confirmation of receipt by facsimile, telephone, or otherwise; and 

        d.    in
the case of personal delivery, when received. 

        Communications
that are to be delivered by the United States mail or by overnight service are to be delivered to the addresses set forth below: 

        (i)    To the Company: 

Pacific
Energy GP, Inc.

Attn: Irvin Toole, Jr.

5900 Cherry Avenue

Long Beach, CA 90805 

        (ii)  To the Executive: 

Lynn
T. Wood

717 Vine Street

Denver, CO 80206 

Each
party, by written notice furnished to the other party, may modify the acceptable delivery address, except that notice of change of address shall be effective only upon receipt. In the event that
the
Company is aware that the Executive is not at the location when notice is being given, notice shall be deemed given when received by the Executive, whether at the aforementioned location or at another
location. 

        18.  TAX WITHHOLDING: The Company may withhold from any amounts payable under this Agreement such federal, state, or local
taxes as shall be required to be withheld pursuant to any applicable law or regulation.

 

        19.  REPRESENTATION: The Executive represents that he is knowledgeable and sophisticated as to business matters, including the
subject matter of this Agreement, that he has read this Agreement and that he understands its terms. The Executive acknowledges that, prior to assenting to the terms of this Agreement, he has been
given a reasonable time to review it, to consult with counsel of his choice, and to negotiate at arm's-length with the Company as to its contents. The Executive and the Company agree that the language
used in this Agreement is the language chosen by the parties to express their mutual intent, and that they have entered into this Agreement freely and voluntarily and without pressure or coercion from
anyone. 

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        IN
WITNESS WHEREOF, the Company and the Executive, intending to be legally bound, have executed this Agreement as of the day and year first above written. 

	

 	
 	

PACIFIC ENERGY GP, INC.
	

 	
 	

By:	
 	

/s/  IRVIN TOOLE, JR.      
 Name: Irvin Toole, Jr.

Title: President and Chief Executive Officer
	

 	
 	

EXECUTIVE
	

 	
 	

By:	
 	

/s/  LYNN T. WOOD      
 Lynn T. Wood

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Exhibit 10.19    
  

Cross Country, Inc.
  Deferred Compensation Plan
 Master Plan Document  

 Effective January 1, 2003  

 Copyright © 2002

By Clark/Bardes Consulting, Inc.

All Rights Reserved  

  

 
 

TABLE OF CONTENTS    
  

	 
	 	 
	 	Page

	ARTICLE 1	 	Definitions	 	1
	ARTICLE 2	 	Selection, Enrollment, Eligibility	 	5
	2.1	 	Selection by Committee	 	5
	2.2	 	Mid-year Participant	 	8
	2.3	 	Enrollment Requirements	 	8
	2.4	 	Eligibility; Commencement of Participation	 	8
	2.5	 	Termination of Participation and/or Deferrals	 	8
	ARTICLE 3	 	Deferral Commitments/LTIC Contribution Amounts/CEO Discretionary Contribution Amounts/Stock Option Gain Amounts/Vesting/Crediting/Taxes	 	8
	3.1	 	Minimum Deferrals	 	8
	3.2	 	Maximum Deferral	 	9
	3.3	 	Election to Defer; Effect of Election Form	 	9
	3.4	 	Withholding and Crediting of Annual Deferral Amounts	 	10
	3.5	 	Annual LTIC Contribution Amount	 	10
	3.6	 	Annual CEO Discretionary Contribution Amount	 	10
	3.7	 	Annual Stock Option Gain Amount	 	11
	3.8	 	Vesting	 	11
	3.9	 	Crediting/Debiting of Account Balances	 	11
	3.10	 	FICA and Other Taxes	 	13
	ARTICLE 4	 	Deduction Limitation	 	14
	4.1	 	Deduction Limitation on Benefit Payments	 	14
	ARTICLE 5	 	In-Service Distribution; Unforeseeable Financial Emergencies; Withdrawal Election	 	15
	5.1	 	In-Service Distribution	 	15
	5.2	 	Other Benefits Take Precedence Over In-Service Distributions	 	15
	5.3	 	Withdrawal Payout/Suspensions for Unforeseeable Financial Emergencies	 	15
	5.4	 	Withdrawal Election	 	16

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	ARTICLE 6	 	Retirement Benefit	 	16
	6.1	 	Retirement Benefit	 	16
	6.2	 	Payment of Retirement Benefit	 	16
	ARTICLE 7	 	Termination Benefit	 	16
	7.1	 	Termination Benefit	 	16
	7.2	 	Payment of Termination Benefit	 	16
	ARTICLE 8	 	Disability Waiver and Benefit	 	17
	8.1	 	Disability Waiver	 	17
	8.2	 	Continued Eligibility; Disability Benefit	 	17
	ARTICLE 9	 	Survivor Benefit	 	15
	9.1	 	Survivor Benefit	 	18
	9.2	 	Payment of Survivor Benefit	 	18
	ARTICLE 10	 	Beneficiary Designation	 	18
	10.1	 	Beneficiary	 	18
	10.2	 	Beneficiary Designation; Change; Spousal Consent	 	18
	10.3	 	Acknowledgement	 	19
	10.4	 	No Beneficiary Designation	 	19
	10.5	 	Doubt as to Beneficiary	 	19
	10.6	 	Discharge of Obligations	 	19
	ARTICLE 11	 	Leave of Absence	 	20
	11.1	 	Paid Leave of Absence	 	20
	11.2	 	Unpaid Leave of Absence	 	20
	ARTICLE 12	 	Termination, Amendment or Modification	 	20
	12.1	 	Termination	 	20
	12.2	 	Amendment	 	20
	12.3	 	Plan Agreement	 	21
	12.4	 	Effect of Payment	 	21

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	ARTICLE 13	 	Administration	 	21
	13.1	 	Committee Duties	 	21
	13.2	 	Administration Upon Change In Control	 	21
	13.3	 	Agents	 	22
	13.4	 	Binding Effect of Decisions	 	22
	13.5	 	Indemnity of Committee	 	22
	13.6	 	Employer Information	 	22
	13.7	 	Compliance With Laws	 	22
	ARTICLE 14	 	Other Benefits and Agreements	 	22
	14.1	 	Coordination with Other Benefits	 	22
	ARTICLE 15	 	Claims Procedures	 	23
	15.1	 	Presentation of Claim	 	23
	15.2	 	Notification of Decision	 	23
	15.3	 	Review of a Denied Claim	 	23
	15.4	 	Decision on Review	 	23
	15.5	 	Legal Action	 	24
	ARTICLE 16	 	Trust	 	24
	16.1	 	Establishment of the Trust	 	24
	16.2	 	Interrelationship of the Plan and the Trust	 	24
	16.3	 	Distributions From the Trust	 	24
	ARTICLE 17	 	Miscellaneous	 	25
	17.1	 	Status of Plan	 	25
	17.2	 	Unsecured General Creditor	 	25
	17.3	 	Employer's Liability	 	25
	17.4	 	Nonassignability	 	25
	17.5	 	Not a Contract of Employment	 	25
	17.6	 	Furnishing Information	 	25
	17.7	 	Terms	 	25
	17.8	 	Captions	 	25
	17.9	 	Governing Law	 	25
	17.10	 	Notice	 	26
	17.11	 	Successors	 	26
	17.12	 	Spouse's Interest	 	26
	17.13	 	Validity	 	26
	17.14	 	Incompetent	 	26
	17.15	 	Court Order	 	26
	17.16	 	Distribution in the Event of Taxation	 	26
	17.17	 	Insurance	 	27
	17.18	 	Legal Fees To Enforce Rights After Change in Control	 	27
	17.19	 	Legend	 	27
	17.20	 	Listing and Other Conditions	 	27

iii

 
 

CROSS COUNTRY, INC.
  DEFERRED COMPENSATION PLAN
  Effective January 1, 2003    

 
 

PURPOSE    
  

        The purpose of this Plan is to provide specified benefits to a select group of management or highly compensated Employees who contribute materially to the
continued growth, development and future business success of Cross Country, Inc., a Delaware corporation, and its subsidiaries, if any, that sponsor this Plan. This Plan shall be unfunded for
tax purposes and for purposes of Title I of ERISA. 

 
 

ARTICLE 1
  DEFINITIONS    
  

        For the purposes of this Plan, unless otherwise clearly apparent from the context, the following phrases or terms shall have the following indicated meanings: 

	1.1	 	"Account Balance" shall mean, with respect to a Participant, a credit on the records of the Employer equal to the sum of (i) the Deferral Account balance, (ii) LTIC Contribution Account balance, (iii) the
CEO Discretionary Contribution Account balance and (iv) the Stock Option Gain Account balance. The Account Balance, and each other specified account balance, shall be a bookkeeping entry only and shall be utilized solely as a device for the
measurement and determination of the amounts to be paid to a Participant, or his or her designated Beneficiary, pursuant to this Plan.
	

1.2	
 	

"Annual Bonus" shall mean any compensation, in addition to Base Annual Salary and Commissions payable to a Participant during a Plan Year, under any Employer's annual bonus and cash incentive plans, excluding stock options and long term incentive
compensation plan awards.
	

1.3	
 	

"Annual CEO Discretionary Contribution Amount" shall mean, for any one Plan Year, the amount determined in accordance with Section 3.6.
	

1.4	
 	

"Annual Deferral Amount" shall mean that portion of a Participant's Base Annual Salary, Annual Bonus and Commissions that a Participant defers in accordance with Article 3 for any one Plan Year. In the event of a Participant's Retirement,
Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.
	
 	
 	

 

 

	

1.5	
 	

"Annual Installment Method" shall be an annual installment payment over the number of years selected by the Participant in accordance with this Plan, calculated as follows: (i) for the first annual installment, the vested Account Balance of the
Participant shall be calculated as of the close of business on or around the last business day of the Plan Year in which the Participant Retires or experiences a Termination of Employment, as determined by the Committee in its sole discretion, and
(ii) for remaining annual installments, the vested Account Balance of the Participant shall be calculated on every applicable anniversary of the last business day of the Plan Year in which the Participant Retires or experiences a Termination of
Employment. Each annual installment shall be calculated by multiplying this balance by a fraction, the numerator of which is one and the denominator of which is the remaining number of annual payments due the Participant. By way of example, if the
Participant elects a ten (10) year Annual Installment Method, the first payment shall be 1/10 of the vested Account Balance, calculated as described in this definition. The following year, the payment shall be
1/9 of the vested Account Balance, calculated as described in this definition. Shares of Stock that shall be distributable from the Stock Option Gain Account shall be distributable in shares of actual Stock in the same
manner previously described. However, the Committee may, in its sole discretion, (i) adjust the annual installments in order to distribute whole shares of actual Stock and/or (ii) accelerate the distribution of such actual shares of Stock
by payment of a lump sum of Stock or cash, in the sole discretion of the Committee.
	

1.6	
 	

"Annual LTIC Contribution Amount" shall mean, for any one Plan Year, the amount determined in accordance with Section 3.5.
	

1.7	
 	

"Annual Stock Option Gain Amount" shall mean, with respect to a Participant for any one Plan Year, the portion of Qualifying Gains deferred with respect to an Eligible Stock Option exercise, in accordance with Section 3.7 of this Plan. In the
event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Stock Option Gain Amount shall be the actual amount
withheld prior to such event.
	

1.8	
 	

"Base Annual Salary" shall mean the annual cash compensation relating to services performed for any Employer during any calendar year, excluding bonuses, commissions, overtime, fringe benefits, stock options, relocation expenses, incentive payments,
non-monetary awards, director fees and other fees, and automobile and other allowances paid to a Participant for employment services rendered (whether or not such allowances are included in the Employee's gross income). Base Annual Salary shall be
calculated before reduction for compensation voluntarily deferred or contributed by the Participant pursuant to all qualified or non-qualified plans of any Employer and shall be calculated to include amounts not otherwise included in the
Participant's gross income under Code Sections 125, 132(f)(4), 402(e)(3), 402(h), or 403(b) pursuant to plans established by any Employer; provided, however, that all such amounts will be included in compensation only to the extent that had there
been no such plan, the amount would have been payable in cash to the Employee.
	

1.9	
 	

"Beneficiary" shall mean one or more persons, trusts, estates or other entities, designated in accordance with Article 10, that are entitled to receive benefits under this Plan upon the death of a Participant.
	

1.10	
 	

"Beneficiary Designation Form" shall mean the form established from time to time by the Committee that a Participant completes, signs and returns to the Committee to designate one or more Beneficiaries.
	

1.11	
 	

"Board" shall mean the Board of Directors of the Company.
	
 	
 	

 

2

 

	

1.12	
 	

"Cause" shall mean with respect to a Participant's termination: (i) in the case where there is no employment agreement, consulting agreement, change in control agreement or similar agreement in effect between an Employer and the Participant at
the time (or where there is such an agreement but it does not define "cause" (or words of like import)), termination due to a Participant's insubordination, dishonesty, fraud, incompetence, moral turpitude, misconduct, refusal to perform his or her
duties or responsibilities for any reason other than illness or incapacity or materially unsatisfactory performance of his or her duties for the Employer as determined by the Committee in its sole discretion; or (ii) in the case where there is
an employment agreement, consulting agreement, change in control agreement or similar agreement in effect between Employer and the Participant at the time that defines "cause" (or words of like import), "cause" as defined under such agreement;
provided, however, that with regard to any agreement that conditions "cause" on occurrence of a change in control, such definition of "cause" shall not apply until a change in control actually takes place and then only with regard to termination
thereafter. Notwithstanding the foregoing, a Participant shall be deemed to be terminated for "cause" if the Participant: breaches the terms of any agreement between the Employer and the Participant, including, without limitation, an employment
agreement or non-competition agreement or (ii) discloses to anyone outside the Employer or Company, or uses in other than the Employer's or Company's business, without written authorization from the Employer, any confidential information or
proprietary information, relating to the business of the Employer, the Company or any of their affiliates, acquired by the Participant prior to the Participant's Termination.
	

1.13	
 	

"CEO Discretionary Contribution Account" shall mean (i) the sum of the Participant's Annual CEO Discretionary Contribution Amounts, plus (ii) amounts credited or debited in accordance with all the applicable crediting and debiting
provisions of this Plan that relate to the Participant's CEO Discretionary Contribution Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's CEO
Discretionary Contribution Account.
	

1.14	
 	

"Change in Control." A "Change in Control" shall be deemed to have occurred.
	

1.15	
 	

Upon any "person" as such term is used in Sections 13(d) and 14(d) of the Exchange Act (other than Charterhouse Equity Partners, Morgan Stanley Dean Witter Capital Partners IV, Inc., the Company, any trustee or other fiduciary holding securities
under any employee benefit plan of the Company, or any company owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of Stock of the Company), becoming the beneficial owner (as
defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company's then outstanding securities;
	

1.16	
 	

During any period of two (2) consecutive years, individuals who at the beginning of such period constitute the Board of Directors, and any new director (other than a director designated by a person who has entered into an agreement with the
Company to effect a transaction described in paragraph (a), (c), or (d) of this Section or a director whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such term is used in
Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board of Directors) whose election by the Board of Directors or
nomination for election by the Company's stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the two-year period or whose election or nomination for election
was previously so approved, cease for any reason to constitute at least a majority of the Board of Directors;
	
 	
 	

 

3

 

	

1.17	
 	

A merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving entity) more than 35% of the combined voting power of the voting securities of the Company or such surviving entity or such surviving entity's parent outstanding immediately
after such merger or consolidation; or
	

1.18	
 	

Upon the approval by the stockholders of the Company of a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company's assets other than the sale or disposition of
all or substantially all of the assets of the Company to a person or persons who beneficially own, directly or indirectly, at least 50% or more of the combined voting power of the outstanding voting securities of the Company at the time of the
sale.
	

1.19	
 	

"Claimant" shall have the meaning set forth in Section 15.1.
	

1.20	
 	

"Code" shall mean the Internal Revenue Code of 1986, as it may be amended from time to time.
	

1.21	
 	

"Commissions" shall mean the cash commissions payable to a Participant by any Employer for services rendered during a Plan Year, excluding Annual Bonus or other additional incentives or awards payable to the Participant.
	

1.22	
 	

"Committee" shall mean the committee described in Article 13.
	

1.23	
 	

"Company" shall mean Cross Country, Inc., a Delaware corporation, and any successor to all or substantially all of the Company's assets or business.
	

1.24	
 	

"Deduction Limitation" shall mean the limitation on a benefit that may otherwise be distributable pursuant to the provisions of this Plan, as set forth in Article 4.
	

1.25	
 	

"Deferral Account" shall mean (i) the sum of all of a Participant's Annual Deferral Amounts, plus (ii) amounts credited in accordance with all the applicable crediting and debiting provisions of this Plan that relate to the Participant's
Deferral Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to his or her Deferral Account.
	

1.26	
 	

"Disability" or "Disabled" shall mean a determination that a Participant is disabled made by either (i) the carrier of any individual or group long-term disability insurance policy, sponsored by the Participant's Employer, or (ii) the
Social Security Administration. Upon request by the Employer, the Participant must submit proof of the carrier's or Social Security Administration's determination.
	

1.27	
 	

"Disability Benefit" shall mean the benefit set forth in Article 8.
	

1.28	
 	

"Election Form" shall mean the form established from time to time by the Committee that a Participant completes, signs and returns to the Committee to make an election under the Plan.
	

1.29	
 	

"Eligible Stock Option" shall mean one or more non-qualified stock option(s) (including incentive stock options disqualified as such and treated as non-qualified stock options) selected by the Committee in its sole discretion and exercisable under a
plan or arrangement of Cross Country, Inc. or any Employer permitting a Participant under this Plan to defer gain with respect to such option.
	
 	
 	

 

4

 

	

1.30	
 	

"Employee" shall mean a person who is an employee of any Employer (other than E-Staff, Inc.) now or hereafter acquired or formed by Company. Employee, as used herein, shall not include a leased employee, an agent or an independent contractor. An
individual classified by the Employer at the time services are provided as either a leased employee, an individual contractor or an individual who is not classified by the Employer as an Employee but who provides services to the Employer through
another entity shall not be eligible to participate in the Plan during the period that the individual is so initially classified, even if such individual is later retroactively reclassified as an employee during all or any part of such period
pursuant to applicable law or otherwise.
	

1.31	
 	

"Employer(s)" shall mean the Company and/or any of its subsidiaries (now in existence or hereafter formed or acquired) that have been selected by the Board to participate in the Plan and have adopted the Plan as a sponsor.
	

1.32	
 	

"ERISA" shall mean the Employee Retirement Income Security Act of 1974, as it may be amended from time to time.
	

1.33	
 	

"401(k) Plan" shall be the Cross Country, Inc. 401(k) Plan, as may be amended from time to time
	

1.34	
 	

"In-Service Distribution" shall mean the distribution set forth in Section 5.1.
	

1.35	
 	

"LTIC Contribution Account" shall mean (i) the sum of the Participant's Annual LTIC Contribution Amounts, plus (ii) amounts credited or debited in accordance with all the applicable crediting and debiting provisions of this Plan that relate
to the Participant's LTIC Contribution Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's LTIC Contribution Account.
	

1.36	
 	

"LTIC Plan" shall be the Cross Country Consulting, Inc. Long Term Incentive Compensation Plan for certain employees of that certain company formerly known as Jennings, Ryan & Kolb, as may be amended from time to time, and any similar
plan maintained by Cross Country Consulting, Inc.
	

1.37	
 	

"Participant" shall mean any Employee within a select group of management or highly compensated employees (as such criteria is established by the Committee) (i) who is selected to participate in the Plan in accordance with the criteria
established by the Committee, from time to time, (ii) who elects to participate in the Plan, (iii) who signs a Plan Agreement, an Election Form and a Beneficiary Designation Form, (iv) whose signed Plan Agreement, Election Form and
Beneficiary Designation Form are accepted by the Committee, (v) who commences participation in the Plan, and (vi) whose Plan Agreement has not terminated. A spouse or former spouse of a Participant shall not be treated as a Participant in
the Plan or have an Account Balance under the Plan, even if he or she has an interest in the Participant's benefits under the Plan as a result of applicable law or property settlements resulting from legal separation or divorce.
	

1.38	
 	

"Plan" shall mean the Cross Country, Inc. Deferred Compensation Plan, which shall be evidenced by this instrument and by each Plan Agreement, as they may be amended from time to time.
	
 	
 	

 

5

 

	

1.39	
 	

"Plan Agreement" shall mean a written agreement, as may be amended from time to time, which is entered into by and between an Employer and a Participant. Each Plan Agreement executed by a Participant and the Participant's Employer shall provide for
the entire benefit to which such Participant is entitled under the Plan; should there be more than one Plan Agreement, the Plan Agreement bearing the latest date of acceptance by the Employer shall supersede all previous Plan Agreements in their
entirety and shall govern such entitlement. The terms of any Plan Agreement may be different for any Participant, and any Plan Agreement may provide additional benefits not set forth in the Plan or limit the benefits otherwise provided under the
Plan; provided, however, that any such additional benefits or benefit limitations must be agreed to by both the Employer and the Participant.
	

1.40	
 	

"Plan Year" shall mean a period beginning on January 1 of each calendar year and continuing through December 31 of such calendar year.
	

1.41	
 	

"Qualifying Gain" shall mean the incremental value inuring to a Participant upon the exercise of an Eligible Stock Option, using a Stock-for-Stock payment method, during any Plan Year. For purposes of this section, the phrase "Stock-for-Stock payment
method" shall, in all events, be limited to the Participant's delivery of a properly executed statement in which he or she attests to ownership of the number of shares required to exercise the Eligible Stock Option, rather than actual delivery of
such shares. Such incremental value shall be deliverable to the Participant in the form of additional shares of Stock and shall be computed as follows: (i) the total fair market value of the shares of Stock held/acquired as a result of the
exercise of an Eligible Stock Option using a Stock-for-Stock payment method, minus (ii) the total exercise price. For example, assume a Participant elects to exercise an Eligible Stock Option to purchase 1,000 shares of Stock at an exercise
price of $20 per share (i.e., a total exercise price of $20,000), when the Stock has a current fair market value of $25 per share (i.e., a total current fair market value of $25,000) and elects to defer one hundred (100) percent of the
Qualifying Gain (i.e., $5,000). Using the Stock-for-Stock payment method, the Participant would deliver a properly executed statement attesting to ownership of 800 shares of Stock (worth $20,000 at exercise) to exercise the Eligible Stock Option and
would receive a Qualifying Gain, in the form of an unfunded and unsecured promise by the Company for 200 additional shares of Stock in the future (worth $5,000 at exercise). The number of additional shares of Stock deliverable to the Participant in
the future as a result of the Qualifying Gain shall be fixed and determined as of the date of the exercise of the Eligible Stock Option using the closing price of the Stock as of the end of the business day closest to the date of such exercise. This
definition shall not include cashless exercises.
	

1.42	
 	

"Retirement", "Retire(s)" or "Retired" shall mean, with respect to an Employee, severance from employment from all Employers for any reason other than for Cause, a leave of absence, death or Disability on or after the earlier of the attainment of:
(a) age sixty-five (65), or (b) an age earlier than age sixty-five (65) but later than age fifty (50), as determined in the sole discretion of the Committee with respect to a particular Participant.
	

1.43	
 	

"Retirement Benefit" shall mean the benefit set forth in Article 6.
	

1.44	
 	

"Stock" shall mean Cross Country, Inc. common stock, $.0001 par value, or any other equity securities of the Company designated by the Committee. Shares of common stock to be delivered under the Plan with respect to Annual Stock Option Gain
Amounts shall be shares of Stock held under the applicable stock option plan of the Company and registered pursuant to a Form S-8, as applicable.
	
 	
 	

 

6

 

	

1.45	
 	

"Stock Option Gain Account" shall mean the aggregate value, measured on any given date, of (i) the number of shares of Stock deferred by a Participant as a result of all Annual Stock Option Gain Amounts, plus (ii) the number of additional
shares credited as a result of the deemed reinvestment of dividends in accordance with all of the applicable crediting provisions of the Cross Country, Inc. Stock Unit Fund that relate to the Participant's Stock Option Gain Account, less
(iii) the number of such shares of Stock previously distributed to the Participant or his or her Beneficiary pursuant to this Plan, subject in each case to any adjustments to the number of such shares determined by the Committee with respect to
the Cross Country, Inc. Stock Unit Fund pursuant to Section 3.9. This portion of the Participant's Account Balance shall be distributable in actual shares of Stock or cash, at the sole and absolute discretion of the Committee.
	

1.46	
 	

"Survivor Benefit" shall mean the benefit set forth in Article 9.
	

1.47	
 	

"Termination Benefit" shall mean the benefit set forth in Article 7.
	

1.48	
 	

"Termination of Employment" shall mean separation from the employment (i) from all Employers, or (ii) from a subsidiary which is employing an Employee and ceases to be a subsidiary, unless the Employee otherwise is, or thereupon becomes,
employed by the Company or another subsidiary of Company, voluntarily or involuntarily, with or without Cause, for any reason other than Retirement, Disability, death or an authorized leave of absence.
	

1.49	
 	

"Trust" shall mean one or more trusts which may be established by the Company, in its sole discretion, pursuant to Article 16.
	

1.50	
 	

"Unforeseeable Financial Emergency" shall mean an unanticipated emergency that is caused by an event beyond the control of the Participant that would result in severe financial hardship to the Participant resulting from (i) a sudden and
unexpected illness or accident of the Participant or a dependent of the Participant, (ii) a loss of the Participant's property due to casualty, or (iii) such other extraordinary and unforeseeable circumstances arising as a result of events
beyond the control of the Participant, all as determined in the sole discretion of the Committee.

7

  

 
 

ARTICLE 2
  SELECTION, ENROLLMENT, ELIGIBILITY    
  

        2.1    Selection by Committee.    Participation in the Plan shall be limited to a select group
of management or highly compensated Employees, as determined by the Committee in its sole discretion. From that group, the Committee shall select, in its sole discretion, Employees to participate in
the Plan. 

        2.2    Mid-Year Participant.    The Committee may, in its sole and absolute
discretion, designate an Employee as first eligible to become a Participant after the first day of a Plan Year, but no later than July 1st of the applicable year. 

        2.3    Enrollment Requirements.    As a condition to participation, each selected Employee
shall complete, execute and return to the Committee a Plan Agreement, an Election Form and a Beneficiary Designation Form, all within thirty (30) days after he or she is selected to participate
in the Plan. In addition, the Committee shall establish from time to time such other enrollment requirements as it determines in its sole discretion are necessary. 

        2.4    Eligibility; Commencement of Participation.    Provided an Employee selected to
participate in the Plan has met all enrollment requirements set forth in this Plan and required by the Committee, including returning all required documents to the Committee within the specified time
period, that Employee shall commence participation in the Plan on the first day of the month following the month in which the Employee completes all enrollment requirements. If an Employee fails to
meet all such requirements within the period required, in accordance with Section 2.2, that Employee shall not be eligible to participate in the Plan until the first day of the Plan Year
following the delivery to and acceptance by the Committee of the required documents. 

        2.5    Termination of Participation and/or Deferrals.    If the Committee determines in good
faith that a Participant no longer qualifies as a member of a select group of management or highly compensated employees, as membership in such group is determined in accordance with Sections 201(2),
301(a)(3) and 401(a)(1) of ERISA, the Committee shall have the right, in its sole discretion, to (i) terminate any
deferral election the Participant has made for the remainder of the Plan Year in which the Participant's membership status changes, (ii) prevent the Participant from making future deferral
elections and/or (iii) immediately distribute the Participant's then vested Account Balance as a Termination Benefit and terminate the Participant's participation in the Plan. If the
Participant receives a hardship distribution from the Cross Country, Inc. 401(k) Plan, the Participant is prohibited from making elective contributions to that plan and to any other qualified
or nonqualified plan of deferred compensation maintained by the Employer for at least 6 months after receipt of the hardship distribution. 

 
 

ARTICLE 3
  DEFERRAL COMMITMENTS/LTIC CONTRIBUTION AMOUNTS/CEO DISCRETIONARY CONTRIBUTION AMOUNTS/STOCK OPTION GAIN
  AMOUNTS/VESTING/CREDITING/TAXES    
  

        3.1    Minimum Deferrals.    

	(a)
	Base Annual Salary, Annual Bonus and Commissions.    For each Plan Year, a Participant may elect to defer, as his or her
Annual Deferral Amount, Base Annual Salary, Annual Bonus and/or Commissions up to the maximum amounts set forth in Section 3.2 and in the following minimum amounts for each deferral elected: 

	Deferral
 
	 	Minimum Amount

	Base Annual Salary,

Annual Bonus and/or Commissions	 	$	4,800 aggregate

If
an election is made for less than the stated minimum amounts, or if no election is made, the amount deferred shall be zero. 

8

 

	(b)
	Annual Stock Option Gain Amount.    For each Eligible Stock Option, a Participant may elect to defer, as his or her Annual
Stock Option Gain Amount, the following minimum percentage of Qualifying Gain with respect to exercise of the Eligible Stock Option: 

	Deferral
 
	 	Minimum Percentage
	 
	Qualifying Gain	 	0	%

If
no election is made, the amount deferred shall be zero. 

	(c)
	Short Plan Year.    Notwithstanding the foregoing, if a Participant first becomes a Participant after the first day of a Plan
Year, the minimum Annual Deferral Amount shall be an amount equal to the minimum set forth above, multiplied by a fraction, the numerator of which is the number of complete months remaining in the
Plan Year and the denominator of which is 12. 

        3.2    Maximum Deferral.    

	(a)
	Base Annual Salary, Annual Bonus and Commissions.    For each Plan Year, a Participant may elect to defer, as his or her
Annual Deferral Amount, Base Annual Salary, Annual Bonus and/or Commissions up to the following maximum percentages for each deferral elected: 

	Deferral
 
	 	Maximum Amount
	 
	Base Annual Salary	 	50	%
	Annual Bonus	 	90	%
	Commissions	 	50	%

	(b)
	Annual Stock Option Gain Amount.    For each Eligible Stock Option, a Participant may elect to defer, as his or her Annual
Stock Option Gain Amount, Qualifying Gain up to the following maximum percentage with respect to exercise of the Eligible Stock Option: 

	Deferral
 
	 	Maximum Percentage
	 
	Qualifying Gain	 	100	%

Annual
Stock Option Gain Amounts may also be limited by other terms or conditions set forth in the stock option plan or agreement under which such options are granted. 

	(c)
	Short Plan Year.    Notwithstanding the foregoing, if a Participant first becomes a Participant after the first day of a Plan
Year, the maximum Annual Deferral Amount (i) with respect to Base Annual Salary shall be limited to 50% of the amount of compensation not yet earned by the Participant as of the date the
Participant submits a Plan Agreement and Election Form to the Committee for acceptance, and (ii) with respect to Annual Bonus and Commissions shall be limited to those amounts deemed eligible
for deferral, in the sole discretion of the Committee. 

        3.3    Election to Defer; Effect of Election Form. 

	(a)
	First Plan Year.    In connection with a Participant's commencement of participation in the Plan, the Participant shall make
an irrevocable deferral election for the Plan Year in which the Participant commences participation in the Plan, along with such other elections as the Committee deems necessary or desirable under the
Plan. For these elections to be valid, the Election Form must be completed and signed by the Participant, timely delivered to the Committee (in accordance with Section 2.2 above) and accepted
by the Committee.

	(b)
	Subsequent Plan Years.    For each succeeding Plan Year, an irrevocable deferral election for that Plan Year, and such other
elections as the Committee deems necessary or desirable under the Plan, shall be made by timely delivering a new Election Form to the Committee, in accordance with its rules and procedures, before the
end of the Plan Year preceding the Plan Year for which the election is made. If no such Election Form is timely delivered for a Plan Year, the Annual Deferral Amount shall be zero for that Plan Year. 

9

 

	(c)
	Stock Option Gain Deferral. 
	(i)
	For
an election to defer gain upon the exercise of an Eligible Stock Option exercise to be valid: (a) a separate Election Form must be completed
and signed by the Participant with respect to the Eligible Stock Option; (b) such election must be irrevocable; (c) the executed Election Form must be both timely delivered to and
accepted in writing by the Committee or its designee at least six (6) months prior to the date the Participant elects to exercise the Eligible Stock Option; (d) the Participant must
agree not to exercise the Eligible Stock Option prior to six (6) months from the date the executed, irrevocable Election Form is submitted to the Committee or its designee; (e) the
Participant must receive written approval from the Committee prior to exercising the Eligible Stock Option; (f) the Eligible Stock Option must be exercised using the
"Stock-for-Stock payment method"; and (g) the Stock constructively delivered by the Participant to exercise the Eligible Stock Option must have been owned by the
Participant during the entire six (6) month period free and clear of any liens and/or encumbrances prior to its delivery and/or otherwise qualify the Eligible Stock Option for favorable
accounting treatment, as determined in the sole discretion of the Committee.

	(ii)
	Notwithstanding
any other provision of this Plan to the contrary, (i) an Eligible Stock Option may be exercised prior to the end of the six
(6) month period following the date on which the executed Election Form is delivered to the Committee or its designee, and (ii) the resulting Qualifying Gain will not be deferred into
this Plan, if (a) a Change in Control occurs, or (b) the Participant Retires, dies while an Employee, or experiences a Termination of Employment, and the Eligible Stock Option would
otherwise expire prior to the end of the six (6) month period following the date on which the executed Election Form was delivered to the Committee or its designee. 

        3.4    Withholding and Crediting of Annual Deferral Amounts.    Only upon the Committee's
approval, for each Plan Year, the Base Annual Salary portion of the Annual Deferral Amount shall be withheld from each regularly scheduled Base Annual Salary payroll in equal amounts, as adjusted from
time to time for increases and decreases in Base Annual Salary in the event the deferral is expressed as a percentage of the Base Annual Salary. The Annual Bonus and/or Commissions portion of the
Annual Deferral Amount shall be withheld at the time the Annual Bonus or Commissions are or otherwise would be paid to the Participant, whether or not this occurs during the Plan Year itself. Annual
Deferral Amounts shall be credited to a Participant's Deferral Account at the time such amounts would otherwise have been paid to the Participant. 

        3.5    Annual LTIC Contribution Amount.    For each Plan Year, an Employer may be required to
credit amounts to a Participant's LTIC Contribution Account in accordance with the LTIC Plan. Such amounts shall be credited to the Participant's LTIC Contribution Account on the date or dates
prescribed by the LTIC Plan. 

        3.6    Annual CEO Discretionary Contribution Amount.    For each Plan Year, the Chief
Executive Officer of the Company may, but is not required to, credit any amount of cash he or she desires to any Participant's CEO Discretionary Contribution Account under this Plan, which amount
shall be for that Participant the Annual CEO Discretionary Contribution Amount for that Plan Year; provided, however,
that no Annual CEO Discretionary Contribution Amount shall be made to any Participant unless the Chief Executive Officer has first obtained Committee approval for such Annual CEO Discretionary
Contribution Amount. The amount so credited to a Participant may be smaller or larger than the amount credited to any other Participant, and the amount credited to any Participant for a Plan Year may
be zero, even though one or more other Participants receive an Annual CEO Discretionary Contribution Amount for that Plan Year. The Annual CEO Discretionary Contribution Amount described in this
Section 3.6, if any, shall be credited as of the last day of the Plan Year. If a Participant is not employed by an Employer as of the last day of a Plan Year other than by reason of his or her
Retirement or death while employed, the Annual CEO Discretionary Contribution Amount for that Plan Year shall be zero. 

10

 

        3.7    Annual Stock Option Gain Amount.    Subject to any terms and conditions imposed by the
Committee, Participants may elect to defer, under the Plan, all or some portion of Qualifying Gains attributable to an Eligible Stock Option exercise, which amount shall be for that Participant the
Annual Stock Option Gain Amount for that Plan Year. The portion of any Qualifying Gains shall be reflected on the books of the Company as an unfunded, unsecured promise to deliver to the Participant a
specific number of actual shares of Stock in the future. Such shares of Stock would otherwise have been delivered to the Participant, pursuant to the Eligible Stock Option exercise, but for the
Participant's election to defer. 

        3.8    Vesting.    

	(a)
	A
Participant shall at all times be 100% vested in his or her Deferral Account and Stock Option Gain Account.

	(b)
	A
Participant shall vest in each Annual LTIC Contribution Amount, including amounts credited or debited in accordance with all the applicable crediting and debiting provisions of this
Plan on the three year anniversary of the date on which such Annual LTIC Contribution Amount is credited to the Participant's LTIC Contribution Account. A new three (3) year vesting schedule
shall apply to each Annual LTIC Contribution Amount.

	(c)
	A
Participant shall vest in his or her CEO Discretionary Contribution Account in accordance with the schedule declared by the Committee in its sole discretion.

	(d)
	Notwithstanding
anything to the contrary contained in this Section 3.8, in the event of a Change in Control, or upon a Participant's Retirement, death while employed by an
Employer, or Disability, a Participant's LTIC Contribution Account and CEO Discretionary Contribution Account shall immediately become 100% vested (if it is not already vested in accordance with the
above vesting schedules).

	(e)
	Notwithstanding
subsection 3.8(d) above, the vesting schedule for a Participant's LTIC Contribution Account and CEO Discretionary Contribution Account shall not be accelerated to the
extent that the Committee determines that such acceleration, in addition to any other amounts being awarded to an Employee, would cause the deduction limitations of Section 280G of the Code to
become effective.

	(f)
	Section 3.8(e)
shall not prevent the acceleration of the vesting schedule applicable to a Participant's LTIC Contribution Account and/or CEO Discretionary Contribution Account
if such Participant is entitled to a "gross-up" payment, to eliminate the effect of the Code section 4999 excise tax, pursuant to his or her employment agreement or other agreement
entered into between such Participant and the Employer. 

        3.9    Crediting/Debiting of Account Balances.    In accordance with, and subject to, the
rules and procedures that are established from time to time by the Committee, in its sole discretion, amounts shall be credited or debited to a Participant's Account Balance in accordance with the
following rules: 

	(a)
	Measurement Funds.    Subject to the restrictions found in Section 3.9(c) below, the Participant may elect one or more
of the measurement funds selected by the Committee, in its sole discretion, which are based on certain mutual funds (the "Measurement Funds"), for the purpose of crediting or debiting additional
amounts to his or her Account Balance. As necessary, the Committee may, in its sole discretion, discontinue, substitute or add a Measurement Fund. Each such action will take effect as of the first day
of the first calendar quarter that begins at least thirty (30) days after the day on which the Committee gives Participants advance written notice of such change, unless otherwise determined by
the Committee.

	(b)
	Election of Measurement Funds.    Subject to the restrictions found in Section 3.9(c) below, a Participant, in
connection with his or her initial deferral election in accordance with Section 3.3(a) above, shall elect, on the Election Form, one or more Measurement Fund(s) (as described in
Section 3.9(a) above) to be used to determine the amounts to be credited or debited to his or her Account Balance. If a Participant does not elect any of the Measurement 

11

 

Funds
as described in the previous sentence, the Participant's Account Balance shall automatically be allocated into the lowest-risk Measurement Fund, as determined by the Committee, in
its sole discretion. Subject to the restrictions found in Section 3.9(c) below, the Participant may (but is not required to) elect, by submitting an Election Form to the Committee that is
accepted by the Committee, to add or delete one or more Measurement Fund(s) to be used to determine the amounts to be credited or debited to his or her Account Balance, or to change the portion of his
or her Account Balance allocated to each previously or newly elected Measurement Fund. If an election is made in accordance with the previous sentence, it shall apply as of the first business day
deemed reasonably practicable by the Committee, in its sole discretion, and shall continue thereafter for each subsequent day in which the Participant participates in the Plan, unless changed in
accordance with the previous sentence. 

	(c)
	Cross Country, Inc. Stock Unit Fund. 
	(i)
	A
Participant's Stock Option Gain Account will be automatically allocated to the Cross Country, Inc. Stock Unit Fund Measurement Fund.
Participants may not select any other Measurement Fund to be used to determine the amounts to be credited or debited to their Stock Option Gain Account. Furthermore, no other portion of the
Participant's Account Balance can be either initially allocated or re-allocated to the Cross Country, Inc. Stock Unit Fund.

	(ii)
	Any
stock dividends, cash dividends or other non-cash dividends that would have been payable on the Stock credited to a Participant's
Account Balance shall be credited to the Participant's Account Balance in the form of additional shares of Stock and shall automatically and irrevocably be deemed to be re-invested in the
Cross Country, Inc. Stock Unit Fund until such amounts are distributed to the Participant. The number of shares credited to the Participant for a particular stock dividend shall be equal to
(a) the number of shares of Stock credited to the Participant's Account Balance as of the payment date for such dividend in respect of each share of Stock, multiplied by (b) the number
of additional shares of Stock actually paid as a dividend in respect of each share of Stock. The number of shares credited to the Participant for a particular cash dividend or other
non-cash dividend (other than any Stock dividend) shall be equal to (a) the number of shares of Stock credited to the Participant's Account Balance as of the payment date for such
dividend in respect of each share of Stock, multiplied by (b) the fair market value of the dividend, divided by (c) the "fair market value" of the Stock on the payment date for such
dividend.

	(iii)
	The
number of shares of Stock credited to the Participant's Account Balance shall be adjusted by the Committee, in its sole discretion, to prevent
dilution or enlargement of Participants' rights with respect to the portion of his or her Account Balance allocated to the Cross Country, Inc. Stock Unit Fund, in the event of any
reorganization, reclassification, stock split, or other unusual corporate transaction or event which affects the value of the Stock, provided that any such adjustment shall be made taking into account
any crediting of shares of Stock to the Participant under Section 3.9. For purposes of this Section 3.9, "fair market value" means, for purposes of this Plan, unless otherwise required
by any applicable provision of the Code or any regulations issued thereunder, as of any date, the last sales price reported for the Stock on the applicable date: (a) as reported on the
principal national securities exchange in the United States on which it is then traded or The Nasdaq Stock Market, Inc.; or (b) if not traded on any such national securities exchange or
The Nasdaq Stock Market, Inc., as quoted on an automated quotation system sponsored by the National Association of Securities Dealers, Inc. or if the Stock shall not have been reported
or quoted on such date, on the first day prior thereto on which the Stock was reported or quoted; provided, that the Committee may modify the definition of Fair Market Value to reflect any changes in
the trading practices of any exchange on which the Stock is listed or traded. If the Stock is not readily tradable on a national securities exchange, The Nasdaq Stock Market, Inc. or 

12

 

any
automated quotation system sponsored by the National Association of Securities Dealers, Inc., its Fair Market Value shall be set in good faith by the Committee. Notwithstanding anything
herein to the contrary, "Fair Market Value" means the price for Stock set by the Committee in good faith. For purposes of the grant of any Eligible Stock Option, the applicable date shall be the date
for which the last sales price is available at the time of grant. 

	(d)
	Proportionate Allocation.    In making any election described in Section 3.9(b) above, the Participant shall specify
on the Election Form, in increments of one percent (1%), the percentage of his or her Account Balance to be allocated to a Measurement Fund (as if the Participant was making an investment in that
Measurement Fund with that portion of his or her Account Balance).

	(e)
	Crediting or Debiting Method.    The performance of each elected Measurement Fund (either positive or negative) will be
determined by the Committee, in its reasonable discretion, based on the performance of the Measurement Funds themselves. A Participant's Account Balance shall be credited or debited on a daily basis
based on the performance of each Measurement Fund selected by the Participant, such performance being determined by the Committee in its sole discretion.

	(f)
	No Actual Investment.    Notwithstanding any other provision of this Plan that may be interpreted to the contrary, the
Measurement Funds are to be used for measurement purposes only, and a Participant's election of any such Measurement Fund, the allocation to his or her Account Balance thereto, the calculation of
additional amounts and the crediting or debiting of such amounts to a Participant's Account Balance shall not be considered or construed in any manner as an actual investment of his or her Account
Balance in any such Measurement Fund. In the event that the Company or the Trustee (as that term is defined in the Trust), in its own discretion, decides to invest funds in any or all of the
investments on which the Measurement Funds are based, no Participant shall have any rights in or to such investments themselves. Without limiting the foregoing, a Participant's Account Balance shall
at all times be a bookkeeping entry only and shall not represent any investment made on his or her behalf by the Company or the Trust; the Participant shall at all times remain an unsecured creditor
of the Company. 

        3.10      FICA and Other Taxes.    

	(a)
	Annual Deferral Amounts.    To the extent required by applicable law, for each Plan Year in which an Annual Deferral Amount
is being withheld from a Participant, the Participant's Employer(s) shall withhold from that portion of the Participant's Base Annual Salary, Annual Bonus and Commissions that are not being deferred,
in a manner determined by the Employer(s), the Participant's share of FICA and other employment taxes on such Annual Deferral Amount. If necessary, the Committee may reduce the Annual Deferral Amount
in order to comply with this Section 3.10.

	(b)
	LTIC Contribution Account and CEO Discretionary Contribution Account.    To the extent required by applicable law, when a
participant becomes vested in a portion of his or her LTIC Contribution Account or Company Contribution Account, the Participant's Employer(s) shall withhold from the Participant's Base Annual Salary,
Annual Bonus and/or Commissions that are not deferred, in a manner determined by the Employer(s), the Participant's share of FICA and other employment taxes. If necessary, the Committee may reduce the
vested portion of the Participant's LTIC Contribution Account or CEO Discretionary Contribution Account, as applicable, in order to comply with this Section 3.10.

	(c)
	Annual Stock Option Gain Amounts.    To the extent required by applicable law, for each Plan Year in which an Annual Stock
Option Gain Amount is being first withheld from a Participant, the Participant's Employer(s) shall withhold from that portion of the Participant's Base Annual Salary, Annual Bonus, Commissions and
Qualifying Gains that are not being deferred, in a manner determined by the Employer(s), the Participant's share of FICA and 

13

 

other
employment taxes on such Annual Stock Option Gain Amount. If necessary, the Committee may reduce the Annual Stock Option Gain Amount in order to comply with this Section 3.10. 

	(d)
	Distributions.    The Participant's Employer(s), or the trustee of the Trust, shall withhold from any payments made to a
Participant under this Plan all federal, state and local income, employment and other taxes required to be withheld by the Employer(s), or the trustee of the Trust, in connection with such payments,
in amounts and in a manner to be determined in the sole discretion of the Employer(s) and the trustee of the Trust. 

 
 

ARTICLE 4
  DEDUCTION LIMITATION    
  

	4.1
	Deduction Limitation on Benefit Payments.    If an Employer determines in good faith that there is a reasonable likelihood
that any compensation paid to a Participant for a taxable year of the Employer would not be deductible by the Employer solely by reason of the limitation under Code Section 162(m), then to the
extent deemed necessary by the Employer to ensure that the entire amount of any distribution to the Participant pursuant to this Plan is deductible, the Employer may defer all or any portion of a
distribution under this Plan. Any amounts deferred pursuant to this limitation shall continue to be credited/debited with additional amounts in accordance with Section 3.9 above, even if such
amount is being paid out in installments. The amounts so deferred and amounts credited thereon shall be distributed to the Participant or his or her Beneficiary (in the event of the Participant's
death) at the earliest possible date, as determined by the Employer in good faith, on which the deductibility of compensation paid or payable to the Participant for the taxable year of the Employer
during which the distribution is made will not be limited by Section 162(m). Notwithstanding anything to the contrary in this Plan, the Deduction Limitation shall not apply to any distributions
made after a Change in Control. The Annual Stock Option Gain Amount is intended to comply with Code Section 162(m) and shall be interpreted as part of the applicable stock option plan of the
Company. 

14

  

 
 

ARTICLE 5
  IN-SERVICE DISTRIBUTION; UNFORESEEABLE FINANCIAL EMERGENCIES;
  WITHDRAWAL ELECTION    
  

        5.1    In-Service Distribution.    In connection with each election at the time a
Participant elects to defer an Annual Deferral Amount, a Participant may irrevocably elect to receive an In-Service Distribution from the Plan with respect to all or a portion of
(i) the Annual Deferral Amount, and (ii) the Annual LTIC Contribution Amount. The In-Service Distribution shall be a lump sum payment in an amount that is equal to the
portion of the Annual Deferral Amount and the vested portion of the Annual LTIC Contribution Amount that the Participant elected to have distributed as an In-Service Distribution, plus
amounts credited or debited in the manner provided in Section 3.9 above on that amount, calculated as of the close of business on or around the date on which the In-Service
Distribution becomes payable, as determined by the Committee in its sole discretion. Subject to the other terms and conditions of this Plan, each In-Service Distribution elected shall be
paid out during a sixty (60) day period commencing immediately after the first day of any Plan Year designated by the Participant. The Plan Year designated by the Participant must be at least
three Plan Years after the end of the Plan Year in which the Annual Deferral Amount is actually deferred, or the vested portion of the Annual LTIC Contribution Amount is actually contributed. By way
of example, if an In-Service Distribution is elected for Annual Deferral Amounts that are deferred in the Plan Year commencing January 1, 2003, the In-Service
Distribution would become payable during a sixty (60) day period commencing January 1, 2007. Notwithstanding the language set forth above, the Committee shall, in its sole discretion,
adjust the amount distributable as an In-Service Distribution if any portion of the Annual LTIC Contribution Amount is unvested on the In-Service Distribution date. 

        5.2    Other Benefits Take Precedence Over In-Service Distributions.    Should an
event occur that triggers a benefit under Article 6, 7, 8 or 9, any Annual Deferral Amount and/or Annual LTIC Contribution Amount, plus amounts credited or debited thereon, that is subject to
an In-Service Distribution election under Section 5.1 shall not be paid in accordance with Section 5.1 but shall be paid in accordance with the other applicable Article. 

        5.3    Withdrawal Payout/Suspensions for Unforeseeable Financial Emergencies.    If the
Participant experiences an Unforeseeable Financial Emergency, the Participant may petition the Committee (i) to suspend deferrals of Base Annual Salary, Annual Bonus, Commissions and Qualifying
Gains required to be made by such Participant, to the extent deemed necessary by the Committee to satisfy the
Unforeseeable Financial Emergency, or (ii) to suspend deferrals of Base Annual Salary, Annual Bonus, Commissions and Qualifying Gains required to be made by such Participant, to the extent
deemed necessary by the Committee to satisfy the Unforeseeable Financial Emergency, and receive a partial or full payout from the Plan. The payout shall not exceed the lesser of the Participant's
vested Account Balance, excluding the portion of the Account Balance attributable to the Stock Option Gain Account, calculated as if such Participant were receiving a Termination Benefit, or the
amount reasonably needed to satisfy the Unforeseeable Financial Emergency. A Participant may not receive a payout from the Plan to the extent that the Unforeseeable Financial Emergency is or may be
relieved (i) through reimbursement or compensation by insurance or otherwise, (ii) by liquidation of the Participant's assets, to the extent the liquidation of such assets would not
itself cause severe financial hardship or (iii) by suspension of deferrals under this Plan. 

If
the Committee, in its sole discretion, approves a Participant's petition for suspension, the Participant's deferrals under this Plan shall be suspended as of the date of such approval. If the
Committee, in its sole discretion, approves a Participant's petition for suspension and payout, the Participant's deferrals under this Plan shall be suspended as of the date of such approval and the
Participant shall receive a payout from the Plan within sixty (60) days of the date of such approval. 

15

 

        5.4    Withdrawal Election.    A Participant may elect, at any time, to withdraw all or a
portion of his or her vested Account Balance, excluding the portion of the Account Balance attributable to the Stock Option Gain Account. For purposes of this Section 5.4, the value of a
Participant's vested Account Balance shall be calculated as of the close of business on or around the date on which receipt of the Participant's election is acknowledged by the Committee, as
determined by the Committee in its sole discretion, less a withdrawal penalty equal to 10% of the amount withdrawn (the net amount shall be referred to as the "Withdrawal Amount"). This election can
be made at any time, before or after Retirement, Termination of Employment or Disability, and whether or not the Participant is in the process of being paid pursuant to an installment payment
schedule. The Participant shall make this election by giving the Committee advance written notice of the election in a form determined from time to time by the Committee. The Participant shall be paid
the Withdrawal Amount within sixty (60) days of his or her election. Once the Withdrawal Amount is paid, the Participant's participation in the Plan shall be suspended for the remainder of the
Plan Year in which the withdrawal is elected and for one (1) full Plan Year thereafter (the "Suspension Period"). During the Suspension Period, the Participant will continue to be eligible for
the benefits provided in Articles 5, 6, 7, 8 or 9 in accordance with the provisions of those Articles, and any previously elected deferrals of Qualifying Gains will continue to be withheld. However,
the portion of such Participant's Annual Deferral Amount which is attributable to Base Annual Salary, Annual Bonus and/or Commissions shall not be withheld during the Suspension Period, and the
Participant shall not be allowed to make any deferral elections during the Suspension Period. 

 
 

ARTICLE 6
  RETIREMENT BENEFIT    
  

        6.1    Retirement Benefit.    A Participant who Retires shall receive, as a Retirement
Benefit, his or her vested Account Balance, calculated as of the close of business on or around the last business day of the Plan Year in which the Participant Retires, as determined by the Committee
in its sole discretion. 

        6.2    Payment of Retirement Benefit.    A Participant, in connection with his or her
commencement of participation in the Plan, shall elect on an Election Form to receive the Retirement Benefit in a lump sum or pursuant to an Annual Installment Method of 5, 10 or 15 years. The
Participant may change his or her election to an allowable alternative payout period by submitting a new Election Form to the Committee, provided that any such Election Form is submitted to and
accepted by the Committee in its sole discretion at least twenty-four (24) months prior to the Participant's Retirement. The Election Form most recently accepted by the Committee
shall govern the payout of the Retirement Benefit. If a Participant does not make any election with respect to the payment of the Retirement Benefit, then such benefit shall be payable in a lump sum.
The lump sum payment shall be made, or installment payments shall commence, no later than sixty (60) days after the last day of the Plan Year in which the Participant Retires. Remaining
installments, if any, shall be paid no later than sixty (60) days after each anniversary of the last day of the Plan Year in which the Participant Retires. 

 
 

ARTICLE 7
  TERMINATION BENEFIT    
  

        7.1    Termination Benefit.    A Participant who experiences a Termination of Employment shall
receive a Termination Benefit, which shall be equal to the Participant's vested Account Balance, calculated as of the close of business on or around the last business day of the Plan Year in which the
Participant experiences a Termination of Employment, as determined by the Committee in its sole discretion. 

        7.2    Payment of Termination Benefit.    If the Participant's vested Account Balance at the
time of his or her Termination of Employment is $100,000 or less, then such Participant's Termination Benefit shall 

16

 

be paid in a lump sum. If such Participant's vested Account Balance at such time is greater than $100,000, the Termination Benefit shall be paid (a) in a lump sum, or (b) pursuant to an
Annual Installment Method of up to 3 years, if requested by the Participant and allowed in the sole discretion of the Committee. The lump sum payment shall be made, or installments shall
commence, no later than sixty (60) days after the last day of the Plan Year in which the Participant experiences the Termination of Employment. Remaining installments, if any, shall be paid no
later than sixty (60) days
after each anniversary of the last day of the Plan Year in which the Participant experiences a Termination of Employment. 

 
 

ARTICLE 8
  DISABILITY WAIVER AND BENEFIT    
  

        8.1    Disability Waiver.    

        (a)  Waiver of Deferral.    If a Participant is determined to be both (i) suffering from a Disability, and
(ii) receiving 100 percent of his or her Base Annual Salary during the period of Disability, then the Participant's Annual Deferral Amount and Qualifying Gains shall continue to be
withheld during such period of Disability. If a Participant is determined to be both (i) suffering from a Disability, and (ii) receiving less than 100 percent of his or her Base
Annual Salary during the period of such Disability, then such Participant shall be excused from fulfilling that portion of the Annual Deferral Amount commitment that would otherwise have been withheld
from a Participant's Base Annual Salary, Annual Bonus and/or Commissions for the Plan Year during which the Participant first suffers a Disability. However, any previously elected deferrals of
Qualifying Gains shall continue to be withheld during such Disability. During the period of Disability, the Participant shall not be allowed to make any additional deferral elections, but will
continue to be eligible for the benefits provided in Articles 5, 6, 7, or 9 in accordance with the provisions of those Articles. 

        (b)  Deferral Following Disability.    If a Participant (i) returns to employment with an Employer after a
Disability ceases, and (ii) payment of 100 percent of his or her Base Annual Salary recommences, the Participant may elect to defer an Annual Deferral Amount and Annual Stock Option Gain
Amount for the Plan Year following his or her return to employment and for every Plan Year thereafter while a Participant in the Plan; provided such deferral elections are otherwise allowed and an
Election Form is delivered to and accepted by the Committee for each such election in accordance with Section 3.3 above. 

        8.2    Continued Eligibility; Disability Benefit.    

        (a)  Continued Eligibility.    A Participant suffering a Disability shall, for benefit purposes under this Plan,
continue to be considered employed and shall be eligible for the benefits provided for in Articles 5, 6, 7 or 9 in accordance with the provisions of those Articles. Notwithstanding the above, the
Committee shall have the right to, in its sole and absolute discretion and for purposes of this Plan only, deem the Participant's employment to have terminated at any time after such Participant is
determined to be suffering a Disability. 

        (b)  Deemed Termination of Employment.    If, in the Committee's discretion, the Disabled Participant's employment
has terminated, and such Participant is not otherwise eligible to Retire, the Participant shall be deemed to have experienced a Termination of Employment for purposes of this Plan and will receive a
Disability Benefit. The Disability Benefit shall be equal to his or her vested Account Balance, calculated as of the close of business on or around the last business day of the Plan Year in which the
Disabled Participant is deemed to have experienced a Termination of Employment, as determined by the Committee in its sole discretion. If the Participant's vested Account Balance at the time of the
Committee's determination is $100,000 or less, payment of the 

17

 

Disability Benefit will be made in a lump sum. If the Participant's vested Account Balance at the time of the Committee's determination is greater than $100,000, the Disability Benefit shall be paid
(a) in a lump sum, or (b) pursuant to an Annual Installment Method of up to 3 years, if requested by the Participant and allowed in the sole discretion of the Committee. The lump
sum payment will be made, or installment payments will commence, no later than sixty (60) days after the last day of the Plan Year in which the Committee deems the Disabled Participant to have
experienced a Termination of Employment. 

        (c)  Deemed Retirement.    If, in the Committee's discretion, the Disabled Participant's employment has terminated,
and such Participant is otherwise eligible to Retire, the Participant shall be deemed to have Retired for purposes of this Plan and will receive a Disability Benefit. The Disability Benefit shall be
equal to his or her vested Account Balance, calculated as of the close of business on or around the last day of the Plan Year in which the Participant is deemed to have Retired, as determined by the
Committee in its sole discretion. The Participant shall receive his or her Disability Benefit in the same form in which such Participant elected to receive his or her Retirement Benefit. The lump sum
payment shall be made, or installment payments shall commence, no later than sixty (60) days after the last day of the Plan Year in which the Committee deems the Disabled Participant to have
Retired. Remaining installments, if any, shall be paid no later than sixty (60) days after each anniversary of the last day of the Plan Year in which the Committee deems the Disabled
Participant to have Retired. 

 
 

ARTICLE 9
  SURVIVOR BENEFIT    
  

        9.1    Survivor Benefit.    The Participant's Beneficiary(ies) shall receive a Survivor
Benefit upon the Participant's death which will be equal to (i) the Participant's vested Account Balance, calculated as of the close of business on or around the date of the Participant's
death, as selected by the Committee in its sole discretion, if the Participant dies prior to his or her Retirement, Termination of Employment or Disability, or (ii) the Participant's unpaid
Retirement Benefit, Termination Benefit or Disability Benefit, calculated as of the close of business on or around the date of the Participant's death, as selected by the Committee in its sole
discretion, if the Participant dies before his or her Retirement Benefit, Termination Benefit or Disability Benefit is paid in full. 

        9.2    Payment of Survivor Benefit.    The Survivor Benefit shall be paid to the Participant's
Beneficiary(ies) in a lump sum payment no later than sixty (60) days after the date on which the Committee is provided with proof that is satisfactory to the Committee of the Participant's
death. 

 
 

ARTICLE 10
  BENEFICIARY DESIGNATION    
  

        10.1    Beneficiary.    Each Participant shall have the right, at any time, to designate his
or her Beneficiary(ies) (both primary as well as contingent) to receive any benefits payable under the Plan to a beneficiary upon the death of a Participant. The Beneficiary designated under this Plan
may be the same as or different from the Beneficiary designation under any other plan of an Employer in which the Participant participates. 

        10.2    Beneficiary Designation; Change; Spousal Consent.    A Participant shall designate his
or her Beneficiary by completing and signing the Beneficiary Designation Form, and returning it to the Committee or its designated agent. A Participant shall have the right to change a Beneficiary by
completing, signing and otherwise complying with the terms of the Beneficiary Designation Form and the Committee's rules and procedures, as in effect from time to time. Upon the acceptance by the
Committee of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be 

18

 

canceled. The Committee shall be entitled to rely on the last Beneficiary Designation Form filed by the Participant and accepted by the Committee prior to his or her death. 

        10.3    Acknowledgment.    No designation or change in designation of a Beneficiary shall be
effective until received and acknowledged in writing by the Committee or its designated agent. 

        10.4    No Beneficiary Designation.    If a Participant fails to designate a Beneficiary as
provided in Sections 10.1, 10.2 and 10.3 above or, if all designated Beneficiaries predecease the Participant or die prior to complete distribution of the Participant's benefits, then the
Participant's designated Beneficiary shall be deemed to be his or her surviving spouse. If the Participant has no surviving spouse, the benefits remaining under the Plan to be paid to a Beneficiary
shall be payable to the executor or personal representative of the Participant's estate. 

        10.5    Doubt as to Beneficiary.    If the Committee has any doubt as to the proper
Beneficiary to receive payments pursuant to this Plan, the Committee shall have the right, exercisable in its discretion, to cause the Participant's Employer to withhold such payments until this
matter is resolved to the Committee's satisfaction. 

        10.6    Discharge of Obligations.    The payment of benefits under the Plan to a Beneficiary
shall fully and completely discharge all Employers and the Committee from all further obligations under this Plan with respect to the Participant, and that Participant's Plan Agreement shall terminate
upon such full payment of benefits. 

19

  

 
 

ARTICLE 11
  LEAVE OF ABSENCE    
  

        11.1    Paid Leave of Absence. If a Participant is authorized by the Participant's Employer to take a
paid leave of absence from the employment of the Employer, (i) the Participant shall continue to be considered eligible for the benefits provided in Articles 5, 6, 7, 8 or 9 in accordance with
the provisions of those Articles, and (ii) the Annual Deferral Amount and any previously elected deferrals of Qualifying Gains shall continue to be withheld during such paid leave of absence in
accordance with Section 3.3. 

        11.2    Unpaid Leave of Absence. If a Participant is authorized by the Participant's Employer to take an
unpaid leave of absence from the employment of the Employer for any reason, such Participant shall continue to be eligible for the benefits provided in Articles 5, 6, 7, 8 or 9 in accordance with the
provisions of those Articles, and any previously elected deferrals of Qualifying Gains shall continue to be withheld during such unpaid leave of absence in accordance with Section 3.3. However,
the Participant shall be excused from fulfilling that portion of the Annual Deferral Amount commitment that would otherwise have been withheld from such Participant's Base Annual Salary, Annual Bonus
and/or Commissions during the remainder of the Plan Year in which the unpaid leave of absence is taken. During the unpaid leave of absence, the Participant shall not be allowed to make any additional
deferral elections. However, if the Participant returns to employment, the Participant may elect to defer an Annual Deferral Amount and Annual Stock Option Gain Amount for the Plan Year following his
or her return to employment and for every Plan Year thereafter while a Participant in the Plan. 

 
 

ARTICLE 12
  TERMINATION, AMENDMENT OR MODIFICATION    
  

        12.1    Termination. Although the Company anticipates that it will continue the Plan for an indefinite
period of time, there is no guarantee that the Company will continue the Plan or will not terminate the
Plan at any time in the future. Accordingly, the Company reserves the right to discontinue its sponsorship of the Plan and/or to terminate the Plan at any time with respect to any or all of its
participating Employees, by action of its Board of Directors or duly authorized committee. Upon the termination of the Plan with respect to any Employer, the Plan Agreements of the affected
Participants who are employed by that Employer shall terminate and their vested Account Balances shall be determined (i) as if they had experienced a Termination of Employment on the date of
Plan termination; or (ii) if Plan termination occurs after the date upon which a Participant was eligible to Retire, then with respect to that Participant as if he or she had Retired on the
date of Plan termination. Such benefits shall be paid to the Participants as follows: (i) if the Plan is terminated with respect to all of its Participants, an Employer shall have the right, in
its sole discretion, and notwithstanding any elections made by the Participant, to pay such benefits in a lump sum or pursuant to an Annual Installment Method of up to 15 years, with amounts
credited and debited during the installment period as provided herein; or (ii) if the Plan is terminated with respect to less than all of its Participants, an Employer shall be required to pay
such benefits in a lump sum. The termination of the Plan shall not adversely affect any Participant or Beneficiary who has become entitled to the payment of any benefits under the Plan as of the date
of termination; provided however, that the Employer shall have the right to accelerate installment payments without a premium or prepayment penalty by paying the vested Account Balance in a lump sum
or pursuant to an Annual Installment Method using fewer years (provided that the present value of all payments that will have been received by a Participant at any given point of time under the
different payment schedule shall equal or exceed the present value of all payments that would have been received at that point in time under the original payment schedule). 

        12.2    Amendment. The Company may, at any time, amend or modify the Plan in whole or in part with
respect to that Employer by the action of its Board of Directors or duly authorized committee; 

20

 

provided, however, that: (i) no amendment or modification shall be effective to decrease or restrict the value of a Participant's vested Account Balance in existence at the time the amendment
or modification is made, calculated as if the Participant had experienced a Termination of Employment as of the effective date of the amendment or modification or, if the amendment or modification
occurs after the date upon which the Participant was eligible to Retire, the Participant had Retired as of the effective date of the amendment or modification, and (ii) no amendment or
modification of this Section 12.2 or Section 13.2 of the Plan shall be effective until a date that is two (2) years after a Change in Control. The amendment or modification of the
Plan shall not affect any Participant or Beneficiary who has become entitled to the payment of benefits under the Plan as of the date of the amendment or modification; provided, however, that the
Employer shall have the right to accelerate installment payments by paying the vested Account Balance in a lump sum or pursuant to an Annual Installment Method using fewer years (provided that the
present value of all payments that will have been received by a Participant at any given point of time under the different payment schedule shall equal or exceed the present value of all payments that
would have been received at that point in time under the original payment schedule). 

        12.3    Plan Agreement. Despite the provisions of Sections 12.1 and 12.2 above, if a Participant's Plan
Agreement contains benefits or limitations that are not in this Plan document, the Employer may only amend or terminate such provisions with the written consent of the Participant. 

        12.4    Effect of Payment. The full payment of the Participant's vested Account Balance under Articles
5, 6, 7, 8 or 9 of the Plan shall completely discharge all obligations to a Participant and his or her designated Beneficiaries under this Plan and the Participant's Plan Agreement shall terminate. 

 
 

ARTICLE 13
  ADMINISTRATION    
  

        13.1    Committee Duties. Except as otherwise provided in this Article 13, this Plan shall be
administered by a Committee, which shall consist of the Board, or such committee as the Board shall appoint (other than any members of management). Members of the Committee may be Participants under
this Plan. The Committee shall also have the discretion and authority to (i) make, amend, interpret, and enforce all appropriate rules and regulations for the administration of this Plan and
(ii) decide or resolve any and all questions including interpretations of this Plan, as may arise in connection with the Plan. Any individual serving on the Committee who is a Participant shall
not vote or act on any matter relating solely to himself or herself. When making a determination or calculation, the Committee shall be entitled to rely on information furnished by a Participant or
the Company. 

        13.2    Administration Upon Change In Control. For purposes of this Plan, the Committee shall be the
"Administrator" at all times prior to the occurrence of a Change in Control. Within ninety (90) days following a Change in Control, an independent third party "Administrator" may be selected by
the individual who, immediately prior to the Change in Control, was the Company's Chief Executive Officer or, if not so identified, the Company's highest ranking officer (the "Ex-CEO"),
and approved by the Trustee. The Committee, as constituted prior to the Change in Control, shall continue to be the Administrator until the earlier of (i) the date on which such independent
third party is selected and approved, or (ii) the expiration of the ninety (90) day period following the Change in Control. If an independent third party is not selected within ninety
(90) days of such Change in Control, the Committee, as described in Section 13.1 above, shall be the Administrator until and unless (a) the Committee selects an independent third
party, and (b) such independent third party is approved by the Trustee. The Administrator shall have the discretionary power to determine all questions arising in connection with the
administration of the Plan and the interpretation of the Plan and Trust including, but not limited to benefit entitlement determinations; provided, however, upon and after the occurrence of a Change
in Control, the Administrator shall have no power to direct the investment of 

21

 

Plan or Trust assets or select any investment manager or custodial firm for the Plan or Trust. Upon and after the occurrence of a Change in Control, the Company must: (1) pay all reasonable
administrative expenses and fees of the Administrator; (2) indemnify the Administrator against any costs, expenses and liabilities including, without limitation, attorney's fees and expenses
arising in connection with the performance of the Administrator hereunder, except with respect to matters resulting from the gross negligence or willful misconduct of the Administrator or its
employees or agents; and (3) supply full and timely information to the Administrator on all matters relating to the Plan, the Trust, the Participants and their Beneficiaries, the Account
Balances of the Participants, the date and circumstances of the Retirement, Disability, death or Termination of Employment of the Participants, and such other
pertinent information as the Administrator may reasonably require. Upon and after a Change in Control, the Administrator may be terminated (and a replacement appointed) by the Trustee only with the
approval of the Ex-CEO. Upon and after a Change in Control, the Administrator may not be terminated by the Company. 

        13.3    Agents. In the administration of this Plan, the Committee may, from time to time, employ agents
and delegate to them such administrative duties as it sees fit (including acting through a duly appointed representative) and may from time to time consult with counsel who may be counsel to any
Employer. 

        13.4    Binding Effect of Decisions. The decision or action of the Administrator with respect to any
question arising out of or in connection with the administration, interpretation and application of the Plan and the rules and regulations promulgated hereunder shall be final and conclusive and
binding upon all persons having any interest in the Plan. 

        13.5    Indemnity of Committee. All Employers shall indemnify and hold harmless the members of the
Committee, any Employee to whom the duties of the Committee may be delegated, and the Administrator against any and all claims, losses, damages, expenses or liabilities arising from any action or
failure to act with respect to this Plan, except in the case of willful misconduct by the Committee, any of its members, any such Employee or the Administrator. 

        13.6    Employer Information. To enable the Committee and/or Administrator to perform its functions, the
Company and each Employer shall supply full and timely information to the Committee and/or Administrator, as the case may be, on all matters relating to the compensation of its Participants, the date
and circumstances of the Retirement, Disability, death or Termination of Employment of its Participants, and such other pertinent information as the Committee or Administrator may reasonably require. 

        13.7    Compliance With Laws. The Committee shall establish rules and regulations with respect to this
Plan in compliance with all federal, state or local laws, statutes, ordinances, rules, regulations or directives, including, but not limited to those promulgated by the Securities and Exchange
Commission ("Laws"). The Committee and each Participant will execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, all documents necessary to, and take such actions as
the Committee may reasonably request, in order to comply with all Laws. 

 
 

ARTICLE 14
  OTHER BENEFITS AND AGREEMENTS    
  

        14.1    Coordination with Other Benefits. The benefits provided for a Participant and Participant's
Beneficiary under the Plan are in addition to any other benefits available to such Participant under any other plan or program for employees of the Participant's Employer. The Plan shall supplement
and shall not supersede, modify or amend any other such plan or program except as may otherwise be expressly provided. 

22

 
 
 

ARTICLE 15
  CLAIMS PROCEDURES    
  

        15.1    Presentation of Claim. Any Participant or Beneficiary of a deceased Participant (such
Participant or Beneficiary being referred to below as a "Claimant") may deliver to the Committee a written claim for a determination with respect to the amounts distributable to such Claimant from the
Plan. If such a claim relates to the contents of a notice received by the Claimant, the claim must be made within sixty (60) days after such notice was received by the Claimant. All other
claims must be made within 180 days of the date on which the event that caused the claim to arise occurred. The claim must state with particularity the determination desired by the Claimant. 

        15.2    Notification of Decision. The Committee shall consider a Claimant's claim within a reasonable
time, but no later than ninety (90) days after receiving the claim. If the Committee determines that special circumstances require an extension of time for processing the claim, written notice
of the extension shall be furnished to the Claimant prior to the termination of the initial ninety (90) day period. In no event shall such extension exceed a period of ninety (90) days
from the end of the initial period. The extension notice shall indicate the special circumstances requiring an extension of time and the date by which the Committee expects to render the benefit
determination. The Committee shall notify the Claimant in writing: 

	(a)
	that
the Claimant's requested determination has been made, and that the claim has been allowed in full; or

	(b)
	that
the Committee has reached a conclusion contrary, in whole or in part, to the Claimant's requested determination, and such notice must set forth in a manner calculated to be
understood by the Claimant:

	(i)
	the
specific reason(s) for the denial of the claim, or any part of it;

	(ii)
	specific
reference(s) to pertinent provisions of the Plan upon which such denial was based;

	(iii)
	a
description of any additional material or information necessary for the Claimant to perfect the claim, and an explanation of why such material or information is necessary;

	(iv)
	an
explanation of the claim review procedure set forth in Section 15.3 below; and

	(v)
	a
statement of the Claimant's right to bring a civil action under ERISA Section 502(a) following an adverse benefit determination on review. 

        15.3    Review of a Denied Claim. On or before sixty (60) days after receiving a notice from the
Committee that a claim has been denied, in whole or in part, a Claimant (or the Claimant's duly authorized representative) may file with the Committee a written request for a review of the denial of
the claim. The Claimant (or the Claimant's duly authorized representative): 

	(a)
	may,
upon request and free of charge, have reasonable access to, and copies of, all documents, records and other information relevant to the claim for benefits;

	(b)
	may
submit written comments or other documents; and/or

	(c)
	may
request a hearing, which the Committee, in its sole discretion, may grant. 

        15.4    Decision on Review. The Committee shall render its decision on review promptly, and no later
than sixty (60) days after the Committee receives the Claimant's written request for a review of the denial of the claim. If the Committee determines that special circumstances require an
extension of time for processing the claim, written notice of the extension shall be furnished to the Claimant prior to the termination of the initial sixty (60) day period. In no event shall
such extension exceed a period 

23

 

of sixty (60) days from the end of the initial period. The extension notice shall indicate the special circumstances requiring an extension of time and the date by which the Committee expects
to render the benefit determination. In rendering its decision, the Committee shall take into account all comments, documents, records and other information submitted by the Claimant relating to the
claim,
without regard to whether such information was submitted or considered in the initial benefit determination. The decision must be written in a manner calculated to be understood by the Claimant, and
it must contain: 

	(a)
	specific
reasons for the decision;

	(b)
	specific
reference(s) to the pertinent Plan provisions upon which the decision was based;

	(c)
	a
statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of, all documents, records and other information relevant (as
defined in applicable ERISA regulations) to the Claimant's claim for benefits; and

	(d)
	a
statement of the Claimant's right to bring a civil action under ERISA Section 502(a). 

        15.5    Legal Action. A Claimant's compliance with the foregoing provisions of this Article 15 is
a mandatory prerequisite to a Claimant's right to commence any legal action with respect to any claim for benefits under this Plan. 

 
 

ARTICLE 16
  TRUST    
  

        16.1    Establishment of the Trust. In order to provide assets from which to fulfill the obligations of
the Participants and their beneficiaries under the Plan, the Company may establish a Trust by a trust agreement with a third party, the trustee, to which each Employer may, in its discretion,
contribute cash or other property, including securities issued by the Company, to provide for the benefit payments under the Plan. 

        16.2    Interrelationship of the Plan and the Trust. The provisions of the Plan and the Plan Agreement
shall govern the rights of a Participant to receive distributions pursuant to the Plan. The provisions of the Trust shall govern the rights of the Employers, Participants and the creditors of the
Employers to the assets transferred to the Trust. Each Employer shall at all times remain liable to carry out its obligations under the Plan. 

        16.3    Distributions From the Trust. Each Employer's obligations under the Plan may be satisfied with
Trust assets distributed pursuant to the terms of the Trust, and any such distribution shall reduce the Employer's obligations under this Plan. 

24

  

 
 

ARTICLE 17
  MISCELLANEOUS    
  

        17.1    Status of Plan. The Plan is intended to be a plan that is not qualified within the meaning of
Code Section 401(a) and that "is unfunded and is maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated
employees" within the meaning of ERISA Sections 201(2), 301(a)(3) and 401(a)(1). The Plan shall be administered and interpreted to the extent possible in a manner consistent with that intent. 

        17.2    Unsecured General Creditor. Participants and their Beneficiaries, heirs, successors and assigns
shall have no legal or equitable rights, interests or claims in any property or assets of an Employer. For purposes of the payment of benefits under this Plan, any and all of an Employer's assets
shall be, and remain, the general, unpledged unrestricted assets of the Employer. An Employer's obligation under the Plan shall be merely that of an unfunded and unsecured promise to pay money in the
future. 

        17.3    Employer's Liability. An Employer's liability for the payment of benefits shall be defined only
by the Plan and the Plan Agreement, as entered into between the Employer and a Participant. An Employer shall have no obligation to a Participant under the Plan except as expressly provided in the
Plan and his or her Plan Agreement. 

        17.4    Nonassignability. Neither a Participant nor any other person shall have any right to commute,
sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber, transfer, hypothecate, alienate or convey in advance of actual receipt, the amounts, if any, payable hereunder, or any part
thereof, which are, and all rights to which are expressly declared to be, unassignable and non-transferable. No part of the amounts payable shall, prior to actual payment, be subject to
seizure, attachment, garnishment or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a Participant or any other person, be transferable by operation of
law in the event of a Participant's or any other person's bankruptcy or insolvency or be transferable to a spouse as a result of a property settlement or otherwise. 

        17.5    Not a Contract of Employment. The terms and conditions of this Plan shall not be deemed to
constitute a contract of employment between any Employer and the Participant. Such employment is hereby acknowledged to be an "at will" employment relationship that can be terminated at any time for
any reason, or no reason, with or without cause, and with or without notice, unless expressly provided in a written employment agreement. Nothing in this Plan shall be deemed to give a Participant the
right to be retained in the service of any Employer or to interfere with the right of any Employer to discipline or discharge the Participant at any time. 

        17.6    Furnishing Information. A Participant or his or her Beneficiary will cooperate with the
Committee by furnishing any and all information requested by the Committee and take such other actions as may be requested in order to facilitate the administration of the Plan and the payments of
benefits hereunder, including but not limited to taking such physical examinations as the Committee may deem necessary. 

        17.7    Terms. Whenever any words are used herein in the masculine, they shall be construed as though
they were in the feminine in all cases where they would so apply; and whenever any words are used herein in the singular or in the plural, they shall be construed as though they were used in the
plural or the singular, as the case may be, in all cases where they would so apply. 

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

        17.9    Governing Law. Subject to ERISA and other applicable federal laws, the provisions of this Plan
shall be construed and interpreted according to the internal laws of the State of Florida without regard to its conflicts of laws principles. 

25

 

        17.10    Notice. Any notice or filing required or permitted to be given to the Committee under this Plan
shall be sufficient if in writing and hand-delivered, or sent by registered or certified mail, to the address below: 

	 	 	Cross Country, Inc.

6551 Park of Commerce Blvd., N.W., Suite 200

Boca Raton, Florida 33487

Attn: Vice President of Human Resources

        Such
notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark on the receipt for registration or certification. 

        Any
notice or filing required or permitted to be given to a Participant under this Plan shall be sufficient if in writing and hand-delivered, or sent by mail, to the last
known address of the Participant. 

        17.11    Successors. The provisions of this Plan shall bind and inure to the benefit of the
Participant's Employer and its successors and assigns and the Participant and the Participant's designated Beneficiaries. 

        17.12    Spouse's Interest. The interest in the benefits hereunder of a spouse of a Participant who has
predeceased the Participant shall automatically pass to the Participant and shall not be transferable by such spouse in any manner, including but not limited to such spouse's will, nor shall such
interest pass under the laws of intestate succession. 

        17.13    Validity. In case any provision of this Plan shall be illegal or invalid for any reason, said
illegality or invalidity shall not affect the remaining parts hereof, but this Plan shall be construed and enforced as if such illegal or invalid provision had never been inserted herein. 

        17.14    Incompetent. If the Committee determines in its discretion that a benefit under this Plan is to
be paid to a minor, a person declared incompetent or to a person incapable of handling the disposition of that person's property, the Committee may direct payment of such benefit to the guardian,
legal representative or person having the care and custody of such minor, incompetent or incapable person. The Committee may require proof of minority, incompetence, incapacity or guardianship, as it
may deem appropriate prior to distribution of the benefit. Any payment of a benefit shall be a payment for the account of the Participant and the Participant's Beneficiary, as the case may be, and
shall be a complete discharge of any liability under the Plan for such payment amount. 

        17.15    Court Order. The Committee is authorized to make any payments directed by court order in any
action in which the Plan or the Committee has been named as a party. In addition, if a court determines that a spouse or former spouse of a Participant has an interest in the Participant's benefits
under the Plan in connection with a property settlement or otherwise, the Committee, in its sole discretion, shall have the right, notwithstanding any election made by a Participant, to immediately
distribute the spouse's or former spouse's interest in the Participant's benefits under the Plan to that spouse or former spouse. 

        17.16    Distribution in the Event of Taxation.    

	(a)
	In General. If, for any reason, all or any portion of a Participant's benefits under this Plan becomes taxable to the Participant prior
to receipt, a Participant may petition the Committee before a Change in Control, or the trustee of the Trust after a Change in Control, for a distribution of that portion of his or her benefit that
has become taxable. Upon the grant of such a petition, which grant shall not be unreasonably withheld (and, after a Change in Control, shall be granted), a Participant's Employer shall distribute to
the Participant immediately available funds in an amount equal to the taxable portion of his or her benefit (which amount shall not exceed a Participant's unpaid vested Account Balance under the
Plan). If the petition is granted, the tax liability distribution shall be made within 90 days of 

26

 

the
date when the Participant's petition is granted. Such a distribution shall affect and reduce the benefits to be paid under this Plan. 

	(b)
	Trust. If the Trust terminates in accordance with its terms and benefits are distributed from the Trust to a Participant in accordance
therewith, the Participant's benefits under this Plan shall be reduced to the extent of such distributions. 

        17.17    Insurance. The Employers, on their own behalf or on behalf of the trustee of the Trust, and, in
their sole discretion, may apply for and procure insurance on the life of the Participant, in such amounts and in such forms as the Trust may choose. The Employers or the trustee of the Trust, as the
case may be, shall be the sole owner and beneficiary of any such insurance. The Participant shall have no interest whatsoever in any such policy or policies, and at the request of the Employers shall
submit to medical examinations and supply such information and execute such documents as may be required by the insurance company or companies to whom the Employers have applied for insurance. 

        17.18    Legal Fees To Enforce Rights After Change in Control. The Company and each Employer is aware
that upon the occurrence of a Change in Control, the Board or the board of directors of a Participant's Employer (which might then be composed of new members) or a shareholder of the Company or the
Participant's Employer, or of any successor corporation might then cause or attempt to cause the Company, the Participant's Employer or such successor to refuse to comply with its obligations under
the Plan and might cause or attempt to cause the Company or the Participant's Employer to institute, or may institute, litigation seeking to deny Participants the benefits intended under the Plan. In
these circumstances, the purpose of the Plan could be frustrated. Accordingly, if, following a Change in Control, it should appear to any Participant that the Company, the Participant's Employer or
any successor corporation has failed to comply with any of its obligations under the Plan or any agreement thereunder or, if the Company, such Employer or any other person takes any action to declare
the Plan void or unenforceable or institutes any litigation or other legal action designed to deny, diminish or to
recover from any Participant the benefits intended to be provided, then the Company and the Participant's Employer irrevocably authorize such Participant to retain counsel of his or her choice at the
expense of the Company and the Participant's Employer (who shall be jointly and severally liable) to represent such Participant in connection with the initiation or defense of any litigation or other
legal action, whether by or against the Company, the Participant's Employer or any director, officer, shareholder or other person affiliated with the Company, the Participant's Employer or any
successor thereto in any jurisdiction 

        17.19    Legend. The Committee may require each person receiving Stock pursuant to an award under this
Plan to represent to and agree with the Company in writing that the Participant is acquiring the Stock without a view to distribution thereof. In addition to any legend required by this Plan, the
certificates for such shares may include any legend which the Committee deems appropriate to reflect any restrictions on the transfer of such Stock. All certificates for Stock delivered under this
Plan shall be subject to such stock transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations and other requirements of the Securities and Exchange
Commissions, any stock exchange upon which the Stock is then listed or any national securities association system upon whose system the Stock is then quoted, any applicable federal or state securities
law, and any applicable corporate law, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. 

        17.20    Listing and Other Conditions. 

	(a)
	Unless
otherwise determined by the Committee, as long as the Stock is listed on a national securities exchange or system sponsored by a national securities association, the issue of
any shares of Stock pursuant to a stock option shall be conditioned upon shares of such Stock being listed on such exchange or system. The Company shall have no obligation to issue such 

27

 

shares
of Stock unless and until such shares are so listed, and the right to exercise any stock option with respect to such shares shall be suspended until such listing has been effected. 

	(b)
	If
at any time counsel to the Company shall be of the opinion that any sale or delivery of shares of Stock pursuant to a stock option is or may in the circumstances be unlawful or
result in the imposition of excise taxes on the Company under the statues, rules or regulations or any applicable jurisdiction, the Company shall have no obligation to make such sale or delivery, or
to make any application or to effect or to maintain any qualification or registration under the Securities Act of 1933, as amended or otherwise with respect to shares of Stock or stock options, and
the right to exercise any stock option shall be suspended until, in the opinion of said counsel, such sale or delivery shall be lawful or will not result in the imposition of excise taxes on the
Company.

	(c)
	Upon
termination of any period of suspension under this Plan, a stock option affected by such suspension which shall not then have expired or terminated shall be reinstated as to all
shares of Stock available before such suspension and as to shares of Stock which would otherwise have become
available during the period of such suspension, but no such suspension shall extend the term of any stock option.

	(d)
	A
Participant shall be required to supply the Company with any certificates, representations and information that the Company requests and otherwise cooperate with the Company in
obtaining any listing, registration, qualification, exemption, consent or approval the Company deems necessary or appropriate. 

AUTHORIZED AND APPROVED BY CROSS COUNTRY, INC. ON NOVEMBER 7, 2002.  

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QuickLinks

Exhibit 10.19

TABLE OF CONTENTS

CROSS COUNTRY, INC. DEFERRED COMPENSATION PLAN Effective January 1, 2003

PURPOSE

ARTICLE 1 DEFINITIONS

ARTICLE 2 SELECTION, ENROLLMENT, ELIGIBILITY

ARTICLE 3 DEFERRAL COMMITMENTS/LTIC CONTRIBUTION AMOUNTS/CEO DISCRETIONARY CONTRIBUTION AMOUNTS/STOCK OPTION GAIN AMOUNTS/VESTING/CREDITING/TAXES

ARTICLE 4 DEDUCTION LIMITATION

ARTICLE 5 IN-SERVICE DISTRIBUTION; UNFORESEEABLE FINANCIAL EMERGENCIES; WITHDRAWAL ELECTION

ARTICLE 6 RETIREMENT BENEFIT

ARTICLE 7 TERMINATION BENEFIT

ARTICLE 8 DISABILITY WAIVER AND BENEFIT

ARTICLE 9 SURVIVOR BENEFIT

ARTICLE 10 BENEFICIARY DESIGNATION

ARTICLE 11 LEAVE OF ABSENCE

ARTICLE 12 TERMINATION, AMENDMENT OR MODIFICATION

ARTICLE 13 ADMINISTRATION

ARTICLE 14 OTHER BENEFITS AND AGREEMENTS

ARTICLE 15 CLAIMS PROCEDURES

ARTICLE 16 TRUST

ARTICLE 17 MISCELLANEOUS

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00049-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00049-of-00352.parquet"}]]