Document:

Agreement with Action Stock Transfer Corporation - Transfer Agent

    

    

    Exhibit
      10.1 Transfer Agent & Registrar Agreement

    

    AGREEMENT

     

    This
      agreement made and entered into the 20th day of July, 2007, by and between
      Action
      Stock Transfer Corporation hereinafter
      referred to as Action
      and
      Plata
      Resources, Inc.
      hereinafter referred to as the Company. 

     

    WHEREFORE:
      

     

    1.
      Action
      shall be
      and is hereby appointed Transfer Agent and Registrar for the securities of
      the
      Company. 

     

    2.
      An
      authorized officer of the Company shall file the following with Action
      before
Action
      commences to act as Transfer Agent: 

     

    A.
      A copy
      of the Articles of Incorporation of the Company and all amendments thereto,
      and
      a copy of the Certificate of Incorporation as issued by the State of
      Incorporation. 

     

    B.
      A copy
      of the by-laws of the Company incorporating all amendments thereto.

     

    C.
      Specimens of all forms of outstanding certificates for securities of the
      Company, in the forms approved by the Board of Directors. 

     

    D.
      A list
      of all outstanding securities together with a statement that future transfers
      may be made without restriction on all securities, except as to securities
      subject to a restriction noted on the face of said securities and in the
      corporate stock records. 

     

    E.
      A list
      of all shareholders deemed to be considered "insiders" or "control persons"
      as
      defined in the Securities Act of 1933 & 1934 and other acts of Congress and
      rules and regulations of the United States Securities and Exchange Commission
      when applicable. 

     

    F.
      The
      names and specimen signatures of all officers who are and have been authorized
      to sign certificates for securities on behalf of the Company and the names
      and
      addresses of any other Transfer Agents or Registrars of securities of the
      Company. 

     

    G.
      A copy
      of the resolution of the Board of Directors of the Company authorizing the
      execution of this Agreement and approving the terms and conditions herein.
      

     

    H.
      His
      certificate as to the authorized and outstanding securities of the Company,
      its
      address to which notices may be sent, the names and specimen signatures of
      the
      Company's officers who are authorized to sign instructions or requests to the
      Transfer Agent on behalf of this Company, and the name and address of legal
      counsel to this Company. 

     

    I.
      In the
      event of any future amendment or change in respect of any of the foregoing,
      prompt written notification of such change, together with copies of all relevant
      resolutions, instruments or other documents, specimen signatures, certificates,
      opinions or the like as the Transfer Agent may deem necessary or appropriate.
      

     

     

    
      
         

      

      
        -1-

        
          

        

      

      
         

      

    

     

     

    3.
      Action,
      as
      Transfer Agent, shall make original issues of securities upon the written
      request of the Company and upon being furnished with a copy of a resolution
      of
      the Board of Directors of the Company authorizing such issue certified by the
      Corporate Secretary. 

     

    4.
      The
      Company hereby authorizes Action
      to
      purchase from time to time, certificates as may be needed by it to perform
      regular transfer duties; not to exceed 2,000 without prior written approval
      of
      the Company, with such costs being paid in advance by the Company. Such
      certificates shall be signed manually or by facsimile signatures of officers
      of
      the Company authorized by law or the by-laws of the Company to sign certificates
      and if required, shall bear the corporate seal of the Company or a facsimile
      thereof. 

     

    5.
      Transfer of securities shall be made and effected by Action
      and
      shall be registered and new certificates issued upon surrender of the old
      certificates, in form deemed by Action
      properly
      endorsed for transfer, with all necessary endorser's signatures guaranteed
      in
      such manner and form as Action
      requires
      by a guarantor reasonably believed by Action
      to be
      responsible accompanied by such assurances as Action
      shall
      deem necessary or appropriate to evidence the genuineness and effectiveness
      of
      such necessary endorsement, and satisfactory evidence of compliance with all
      applicable laws relating to collection of taxes, if any. That all transfer
      of
      securities and issuance and certificates shall be at a fee chargeable by
Action
      at its
      discretion. Such fee to be paid by such person, persons, firms or corporations
      requesting such transfer. 

     

    6.
      In
      registering transfers, Action
      may rely
      upon the Uniform Commercial Code or any other statute which in the opinion
      of
      Counsel protects Action
      and the
      Company in not requiring complete documentation in registering transfer without
      inquiry into adverse claims, in delaying registration for purposes of such
      inquiry, or in refusing registration wherein its judgment and adverse claims
      require such refusal. The Company agrees to hold Action
      harmless
      from any liability resulting from instructions issued by the Company.

     

    7.
      When
      mail is used for delivery of certificates, Action
      shall
      forward certificates in "non- negotiable" form by first class, registered or
      certified mail. 

     

    8.
      Action,
      as
      Transfer Agent, may issue new certificates in place of certificates represented
      to have been lost, destroyed, or stolen, upon receiving indemnity satisfactory
      to Action,
      and may
      issue new certificates in exchange for, and upon surrender of mutilated
      certificates. 

     

    9.
      In
      case of any request of demand for the inspection of the records of the Company
      held by Action,
      Action
      shall
      endeavor to notify the Company and to secure instructions as to permitting
      or
      refusing such inspection. However, Action
      may
      exhibit such records to any person in any case where it is advised by its
      counsel that it may be held liable for failure to do so. 

     

    10.
      In
      case any officer of the Company who shall have signed manually or whose
      facsimile signature shall have been affixed to blank certificates shall die,
      resign, or be removed prior to the issuance of such certificates, Action
      may
      issue and register such certificates as the certificates of the Company
      notwithstanding such death, resignation, or removal; and the Company shall
      file
      promptly with Action
      such
      approval, adoption, or ratification as may be required by law. 

     

    11.
      Action
      shall
      maintain customary records in connection with its agency, all of which shall
      be
      available for inspection by the Company at all reasonable times. 

     

    12.
      Action
      is
      authorized by the Company to use its own judgment in matters affecting its
      duties as Transfer Agent, and in its discretion may apply to and act upon
      instructions of its own counsel or of the counsel of the Company in respect
      to
      any questions arising in connection with such agency, all legal fees to be
      at
      the expense of the Company and Action
      is
      hereby relieved of any responsibility to the Company and is indemnified by
      the
      Company as to any responsibility to third persons, for action taken in
      accordance with advice of such counselor its own judgment, remaining liable
      only
      for its own willful default or misconduct. 

     

    13.
      Action
      shall be
      indemnified by the Company for any acts of Action
      based
      upon: 

     

     

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

     

    
      	 	
              A.
                Any paper or document reasonably believed by it to be genuine and
                to have
                been signed by the proper person or persons; and
                

            

    

     

    
      	 	
              B.
                Its recognition of certificates which it reasonably believes to bear
                the
                proper manual or facsimile signatures of the officers of the Company
                and
                the proper counter-signature of the Transfer Agent.
                

            

    

     

    14.
      Action
      shall
      not be held to have notice of any change of authority of any officer, employee
      or agent of the Company until receipt of written notification thereof from
      the
      Company. 

     

    15.
      So
      long as Action
      has
      acted in good faith and with due diligence and without negligence, the Company
      shall assume full responsibility and shall indemnify Action
      and save
      it harmless from and against all actions and suits, whether groundless or
      otherwise, and from and against any and all losses, damages, costs, charges,
      counsel fees, payments, expenses and liabilities arising directly or indirectly
      out of agency relationship to the Company. Action
      shall
      not be under any obligation to prosecute or to defend any action or suit in
      respect of such agency relationship which, in opinion of its counsel, may
      involve it in expense or liability, unless the Company shall, so often as
      reasonably requested, furnish Action
      with
      satisfactory indemnity against such expense or liability. Action
      shall be
      without liability to the Company, and is hereby indemnified from any liability
      to third persons, from Action's
      refusal
      to perform any act in connection with this agency, wherein reliance upon opinion
      of its counsel, Action
      in good
      faith believes that such act may subject it or its officers or employees to
      criminal liability or injunctive sanctions under any law of any state or of
      the
      United States, and in particular, under the Securities Act of 1933.

     

    16.
      The
      Company may remove Action
      as
      Transfer Agent at any time by giving a 30 day written notice in the form of
      a
      resolution from the Board of Directors calling for such removal (a copy of
      such
      resolution shall be furnished to Action)
      and
      upon the payment of any and all reasonable charges owing to Action.
      Action
      may resign as Transfer Agent at any time giving written notice of such
      resignation to the Company at its last known address, and thereupon its duties
      as Transfer Agent shall cease. 

     

    17.
      This
      agreement may not be assigned by Action
      without
      express written consent of the Company. 

     

    18.
      Action
      may,
      at
      its sole discretion, pay a finders fee to any person, persons or entity for
      referring the company to Action.
      Any
      finders fee agreement entered into by Action,
      which
      is directly related to this agreement between Action
      and
      the
      company, will be made available to the company for inspection upon written
      request. 

     

    19.
      Action
      may
      increase its transfer rates as it deems necessary, without notification to
      client. 

     

    20.
      The
      Company was chartered under the laws of the State of Nevada by Certificate
      of
      Incorporation filed in the office of the Secretary of State on the 17th day
      of
      July, 2007. 

     

    21.
      The
      total number of shares of each class of the securities which the Company is
      now
      authorized to issue and the number thereof now issued and outstanding
      is:

     

    A.
      Class:
      Common shares 

     

    B.
      Par
      Value: $0.001 

     

    C.
      Authorized: 750,000,000

     

    D.
      Issued
      and Outstanding: Nil

    

    22.
      The
      duly elected and qualified officers and directors of this Corporation, all
      owners of more than 10% of the Company’s outstanding stock (“principal
      shareholders") and all affiliates, as defined in SEC Rule 144(a)(1), are as
      follows: 

     

     

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

     

    

    
      	
               

              Title

            	
               

              Name
                and Address

            	
               

              Signature

            
	 	 	
              (Required
                only for officers
                and directors)

            
	
              President
                and Chief Executive Officer

            	
              Dexter
                R. Caliso

              2911
                Park Avenue, Pasay
                City

              Metro
                Manila, Philippines

            	
               

              DEXTER
                R. CALISO

            
	 	 	 
	
              Chief
                Financial Officer, Chief
                Accounting Officer

              and
                Secretary Treasurer

            	
              Presentacion
                A. Coranes

              2432
                M. Dela Cruz Street

              Pasay
                City, Philippines

            	
              PRESENTACION
                A.
                CORANES

            

    

     

    23.
      That
      the name, address, and phone number of Counsel to the Company is: 

     

    Not
      appointed yet. 

     

    24.
      That
      the address and phone number of the Company to which all communication are
      to be
      sent:

     

    2911
      Park
      Avenue, Pasay City, Metro Manila, Philippines

     

    25.
      That
      the names and addresses of all past and present Transfer Agents (other than
      Action)
      are:

     

    Not
      applicable. 

     

    No
      other
      transfer agent since inception 

     

    
      	
              Company: Plata
                Resources, Inc.

            	
              Action
                Stock Transfer Corporation

            
	 	 
	
              By: DEXTER
                R. CALISO

            	
              By: JUSTEENE
                BLANKENSHIP

            
	
              Dexter
                R. Caliso - President

            	
              President

            

    

     

    

    

    
      
         

      

      
        -4--- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

Exhibit 10.(d)(i)

BECTON, DICKINSON AND COMPANY 

DEFERRED COMPENSATION PLAN 

(Formerly the Becton, Dickinson and Company Salary and Bonus Deferral Plan) 

Amended and Restated as of December 31, 2007 

 

 

BECTON, DICKINSON AND COMPANY 

DEFERRED COMPENSATION PLAN 

Amended and Restated as of December 31, 2007 

TABLE OF CONTENTS 

	ARTICLE I	Definitions	 
	 

    
	          Section
        1.1	   	“Accounts”	2
	          Section
        1.2	 	“Annual Open Enrollment
        Period”	2
	          Section
        1.3	 	“Base Salary”	2
	          Section
        1.4	 	"Beneficiary"	 
	          Section
        1.5	 	“Board of Directors”	2
	          Section
        1.6	 	“Bonus”	2
	          Section
        1.7	 	“Change in Control”	2
	          Section
        1.8	 	“Code”	4
	          Section
        1.9	 	“Committee”	4
	          Section
        1.10	 	“Common Stock”	4
	          Section
        1.11	 	“Company”	5
	          Section
        1.12	 	“Company Discretionary
        Credits”	5
	          Section
        1.13	 	“Company Discretionary
        Credit Account”	5
	          Section
        1.14	 	“Company Matching Credits”	5
	          Section
        1.15	 	“Company Matching Credit
        Account”	5
	          Section
        1.16	 	“Deferral Election”	5
	          Section
        1.17	 	“Deferred Bonus”	5
	          Section
        1.18	 	“Deferred Bonus Account”	5
	          Section
        1.19	 	“Deferred Bonus Election”	5
	          Section
        1.20	 	“Deferred Equity-Based
        Compensation”	5
	          Section
        1.21	 	“Deferred Equity-Based
        Compensation Account”	5
	          Section
        1.22	 	“Deferred Equity-Based
        Compensation Election”	5
	          Section
        1.23	 	“Deferred Salary”	6
	          Section
        1.24	 	“Deferred Salary Account”	6
	          Section
        1.25	 	“Deferred Salary Election”	6
	          Section
        1.26	 	“Deferred SERP Distribution”	6
	          Section
        1.27	 	“Deferred SERP Distribution
        Account”	6
	          Section
        1.28	 	“Deferred SERP Distribution
        Election”	6
	          Section
        1.29	 	“Deferred Stock Account”	6
	          Section
        1.30	 	“Deferred Stock Election”	6
	          Section
        1.31	 	“Disabled”	6
	          Section
        1.32	 	“Dividend Reinvestment
        Return”	6
	          Section
        1.33	 	“Equity-Based Compensation”	6
	          Section
        1.34	 	“Equity-Based Compensation
        Plan”	6
	          Section
        1.35	 	“ERISA”	7
	          Section
        1.36	 	"Excess Compensation"	 
	          Section
        1.37	 	“Fiscal Year”	7
	          Section
        1.38	 	“Investment Election”	7

	          Section 1.39	 		
“Investment Options”	
7
	          Section 1.40	 		
“NYSE”	
7
	          Section 1.41	 		
“Other Stock-Based Awards”	
7
	          Section 1.42	 		
“Participant”	
7
	          Section 1.43	 		
“Performance Units”	
7
	          Section 1.44	 		
“Plan”	
7
	          Section 1.45	 		
“Plan Year” means the calendar year	
7
	          Section 1.46	 		
“Restricted Stock Units”	
7
	          Section 1.47	 		
“SERP”	
7
	          Section 1.48	 		
“Stock Award Plan”	
7
	          Section 1.49	 		
“Stock Trust”	
8
	 

	ARTICLE II	Eligibility and Participation	9
	 

	          Section 2.1	 		
Eligibility	
9
	          Section 2.2	 		
Participation	
9
	 

	ARTICLE III 	Deferral Elections and Deferral
    Periods	12
	 

	          Section 3.1	 		
Deferred Salary Election	
12
	          Section 3.2	 		
Deferred Bonus Election	
12
	          Section 3.3	 		
Deferred Equity-Based Compensation Election	
13
	          Section 3.4	 		
Deferred SERP Distribution Election	
14
	          Section 3.5	 		
Company Matching Credits	
14
	          Section 3.6	 		
Company Discretionary Credits	
15
	          Section 3.7	 		
Deferral Period	
15
	          Section 3.8	 		
Modification of Deferral Period	
16
	 

	ARTICLE IV	Participants’ Accounts	17
	 

	          Section 4.1	 		
Crediting of Employee Deferrals and Company Matching	 	
	 		 		
and Discretionary Credits	
17
	          Section 4.2	 		
Investment Election	
17
	          Section 4.3	 		
Hypothetical Earnings	
17
	          Section 4.4	 		
Vesting	
20
	          Section 4.5	 		
Account Statements	
20
	 

	ARTICLE V 	Distributions and Withdrawals	21
	 

	          Section 5.1	 		
Timing of Distribution	
21
	          Section 5.2	 		
Form of Distribution	
24
	 

	ARTICLE VI 	 	General Provisions	27
	 

	          Section 6.1	 		
Unsecured Promise to Pay	
27
	          Section 6.2	 		
Plan Unfunded	
27
	          Section 6.3	 		
Designation of Beneficiary	
27
	          Section 6.4	 		
Expenses	
28
	          Section 6.5	 		
Voting Common Stock	
28
	          Section 6.6	 		
Non-Assignability	
28

-ii-  

	          Section 6.7	 		
Mandatory Deferral	
28
	          Section 6.8	 		
Employment/Participation Rights	
28
	          Section 6.9	 		
Severability	
29
	          Section 6.10	 		
No Individual Liability	
29
	          Section 6.11	 		
Tax Withholding	
29
	          Section 6.12	 		
Applicable Law	
30
	          Section 6.13	 		
Incompetency	
30
	          Section 6.14	 		
Notice of Address	
30
	 

	ARTICLE VII	Administration	31
	 
    
	          Section 7.1	 		
Committee	
31
	          Section 7.2	 		
Claims Procedure	
31
	 

	ARTICLE VIII	Amendment, Termination and
    Effective Date	32
	 

	          Section 8.1	 		
Amendment of the Plan	
32
	          Section 8.2	 		
Termination of the Plan	
32
	          Section 8.3	 		
No Impairment of Benefits	
32
	          Section 8.4	 		
Effective Date	
32

-iii-

BECTON, DICKINSON AND COMPANY

DEFERRED COMPENSATION PLAN 

Amended and Restated as of December 31, 2007

FOREWORD

Effective as of August 1, 1994 (the “Effective Date”), Becton, Dickinson and Company (the “Company”) adopted the Becton, Dickinson and Company Salary and Bonus Deferral Plan (the “Plan”) for
the benefit of certain of its employees. The Plan is intended to be an unfunded plan of deferred compensation primarily for the benefit of a select group of management and highly compensated employees. To the extent that the Plan permits the
voluntary deferral of bonuses, the Plan is intended to amend and replace the Bonus Deferral Option of the Becton, Dickinson and Company Executive Bonus Plan. 

The purpose of the Plan is to permit those employees of the Company who are part of a select group of management or highly compensated employees to defer, pursuant to the provisions of the Plan, a portion of the salaries,
bonuses and other remuneration (including certain equity-based compensation) otherwise payable to them. 

Effective as of August 15, 1996, the Board of Directors of the Company amended the Plan to permit Participants to have their deferred salaries or deferred bonuses considered to be invested in Common Stock of the Company, to
permit those Participants to vote a number of shares of Common Stock equal to the number considered to be held for their benefit under the Plan, and for certain other purposes. 

Effective as of November 1, 2001, the Plan was amended and restated to rename the Plan as the Becton, Dickinson and Company Deferred Compensation Plan, and to modify the deferral opportunities and the distribution and
withdrawal options under the Plan, and to make certain other modifications deemed desirable. 

Effective as of March 22, 2004, the Plan was amended and restated to permit participants to defer certain equity-based compensation awarded under the Becton, Dickinson and Company Stock Award Plan (the “Stock Award
Plan”) and the Becton, Dickinson and Company 2004 Employee and Director Equity-Based Compensation Plan (the “Equity-Based Compensation Plan”) and to clarify the Committee’s discretion to require Deferral Elections to be made
earlier than September 30 of a Plan Year with respect to amounts to be paid in a year or years following the Plan Year.

Effective as of March 27, 2007, the Plan was amended and restated to expand the instances in which Participants would receive Company Matching Credits.

Effective as of December 31, 2007, the Plan is amended to require the deferral until termination of Basic Deferred Salary, Basic Deferred Bonus and Company Matching Credits. 

ARTICLE I 

Definitions 

           Section 1.1     “Accounts” means the bookkeeping accounts established under the Plan, if any, on behalf of a Participant and includes earnings credited thereon or losses charged thereto.

          Section 1.2       “Annual Open Enrollment Period” means the annual period designated by the Committee, which ends not later than the December 31 of a Plan Year, during which a Participant may make or change elections
to defer annual Base Salary, Bonuses, Equity-Based Compensation, and SERP distributions.  Notwithstanding the foregoing, the Annual Open Enrollment Period for 2001 shall be the period designated by the Committee which ends not later than November 9,
2001. 

          Section 1.3       “Base Salary” means the base salary or wages otherwise taken into account under the Becton, Dickinson and Company Savings Incentive Plan, determined in accordance with the provisions of such plan, but
without regard to the limitation on compensation otherwise required under Code section 401(a)(17), and without regard to any deferrals of the foregoing of compensation under this or any other plan of deferred compensation maintained by the Company.

          Section 1.4       “Beneficiary” means the beneficiary who, pursuant to the provisions of this Plan, is to receive the amount, if any, payable under this Plan upon the death of a
Participant. 

          Section 1.5     “Board of Directors” means the Board of Directors of the Company. 

          Section 1.6     “Bonus” means the annual bonus payable under the Company’s Performance Incentive Plan, or any successor thereto. 

          Section 1.7     “Change in Control” of the Company means any of the following events: 

	          	          (1)      the acquisition by any individual, entity
        or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities
        Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”)
        of beneficial ownership (within the meaning of Rule 13d-3 promulgated
        under the Exchange Act) of 25% or more of either (A) the then-outstanding
        shares of common stock of the Company (the “Outstanding Company
        Common Stock”) or (B) the combined voting power of the then-outstanding
        voting securities of the Company entitled to vote generally in the election
        of directors (the “Outstanding Company Voting Securities”);
        provided, however, that, for purposes of this Section 1.6, the following
        acquisitions shall not constitute a Change of Control: (i) any acquisition
        directly from the Company, (ii) any acquisition by the Company, (iii)
        any acquisition by any employee benefit plan (or related trust) sponsored
        or maintained by the Company or any affiliated company, (iv) any acquisition
        by any corporation pursuant to a transaction that complies with Sections
        1.6(3)(A), 1.6(3)(B) and 1.6(3)(C), or (v) any acquisition that the Board
    determines, in good faith, was 

2

	          	inadvertent, if the acquiring
          Person divests as promptly as practicable a sufficient amount of the
          Outstanding Company Common Stock and/or the Outstanding Company Voting
          Securities, as applicable, to reverse such acquisition of 25% or more
          thereof. 

                 (2)      Individuals
          who, as of April 24, 2000, constitute the Board (the “Incumbent
          Board”) cease for any reason to constitute at least a majority
          of the Board; provided, however, that any individual becoming a director
          subsequent to April 24, 2000 whose election, or nomination for election
          as a director by the Company’s shareholders, was approved by a
          vote of at least a majority of the directors then comprising the Incumbent
          Board shall be considered as though such individual were a member of
          the Incumbent Board, but excluding, for this purpose, any such individual
          whose initial assumption of office occurs as a result of an actual
          or threatened election contest with respect to the election or removal
          of directors or other actual or threatened solicitation of proxies
      or consents by or on behalf of a Person other than the Board. 

                 (3)      Consummation
          of a reorganization, merger, consolidation or sale or other disposition
          of all or substantially all of the assets of the Company (a “Business
          Combination”), in each case, unless, following such Business Combination,
          (A) all or substantially all of the individuals and entities that were
          the beneficial owners of the Outstanding Company Common Stock and the
          Outstanding Company Voting Securities immediately prior to such Business
          Combination beneficially own, directly or indirectly, more than 60%
          of the then-outstanding shares of common stock and the combined voting
          power of the then-outstanding voting securities entitled to vote generally
          in the election of directors, as the case may be, of the corporation
          resulting from such Business Combination (including, without limitation,
          a corporation that, as a result of such transaction, owns the Company
          or all or substantially all of the Company’s assets either directly
          or through one or more subsidiaries) in substantially the same proportions
          as their ownership immediately prior to such Business Combination of
          the Outstanding Company Common Stock and the Outstanding Company Voting
          Securities, as the case may be, (B) no Person (excluding any corporation
          resulting from such Business Combination or any employee benefit plan
          (or related trust) of the Company or such corporation resulting from
          such Business Combination) beneficially owns, directly or indirectly,
          25% or more of, respectively, the then-outstanding shares of common
          stock of the corporation resulting from such Business Combination or
          the combined voting power of the then-outstanding voting securities
          of such corporation, except to the extent that such ownership existed
          prior to the Business Combination, and (C) at least a majority of the
          members of the board of directors of the corporation resulting from
          such Business Combination were members of the Incumbent Board at the
          time of the execution of the initial agreement or of the action of
      the Board providing for such Business Combination; or 

                 (4)      Approval
          by the shareholders of the Company of a complete liquidation or dissolution
    of the Company. 

3

          Section 1.8     “Code” means the Internal Revenue Code of 1986, as amended, or any successor statute. 

          Section 1.9     “Committee” means the committee that is responsible for administering the Plan. The Committee shall consist of three or more employees of the Company as determined by, and
appointed by, the Board of Directors. The Committee may delegate pursuant to a written authorization (including, by way of illustration, through a contract, memorandum, or other written delegation document) any or all of its responsibilities
involving ongoing day-to-day administration or ministerial acts, as set forth in this Plan to one or more individuals or service-providers. In any case where this Plan refers to the Committee, such reference is deemed to be a reference to any
delegate of the Committee appointed for such purpose. 

          Section
1.10    “Common Stock” means the common stock
($1.00 par value) of the Company, including any shares into which it may be split,
subdivided or combined. 

4

          Section 1.11       “Company” means Becton,
Dickinson and Company and any successor to such corporation by merger, purchase or otherwise. 

          Section 1.12       “Company Discretionary Credits” means the amounts credited to a Participant’s Company Discretionary Credit Account, if any, pursuant to Section 3.6. 

          Section 1.13       “Company Discretionary Credit Account” means the bookkeeping account established under Section 3.6, if any, on behalf of a Participant and includes any earnings credited thereon or losses charged
thereto pursuant to Article IV. 

          Section
1.14       “Company Matching Credits” means
the amounts credited to a Participant’s Company Matching Credit Account,
if any, pursuant to Section 3.5. 

          Section 1.15       “Company Matching Credit Account” means the bookkeeping account established under Section 3.5, if any, on behalf of a Participant and includes any earnings credited thereon or losses charged thereto
pursuant to Article IV. 

          Section 1.16       “Deferral Election” means the Participant’s election to participate in this Plan and defer amounts eligible for deferral in accordance with the Plan terms. Except as the context otherwise
requires, references herein to Deferral Elections include any subsequent modifications of a prior Deferral Election.

          Section 1.17       “Deferred Bonus” means the amount of a Participant’s Bonus that such Participant has elected to defer until a later year pursuant to an election under Section 3.2. Reference in this Plan to a
Participant’s “Basic Deferred Bonus” shall mean the first six percent (6%) of a Participant’s Bonus that such Participant has elected to defer under this Plan in any Plan Year. Reference in this Plan to a Participant’s
“Supplemental Deferred Bonus” shall mean any Bonus deferred by a Participant under the Plan that does not constitute Basic Deferred Bonus. 

          Section 1.18       “Deferred Bonus Account” means the bookkeeping account established under Section 3.2 on behalf of a Participant, and includes any earnings credited thereon or losses charged thereto pursuant to
Article IV. 

          Section 1.19       “Deferred Bonus Election” means the election by a Participant under Section 3.2 to defer a portion of the Participant’s Bonus until a later year. 

          Section 1.20       “Deferred Equity-Based Compensation” means the amount of a Participant’s Equity-Based Compensation that such Participant has elected to defer until a later year pursuant to an election under
Section 3.3. 

          Section 1.21       “Deferred Equity-Based Compensation Account” means the bookkeeping account established under Section 3.3 on behalf of a Participant, and includes any earnings credited thereon or losses charged
thereto pursuant to Section 4.3(b) . 

          Section 1.22       “Deferred Equity-Based Compensation Election” means the election by a Participant under Section 3.3 to defer a portion of the Participant’s Equity-Based Compensation. 

5 

          Section 1.23       “Deferred Salary” means the amount of a Participant’s Base Salary that such Participant has elected to defer until a later year pursuant to an election under Section 3.1. Reference to a
Participant’s “Basic Deferred Salary” shall mean the first six percent (6%) of a Participant’s Base Salary that such Participant has elected to defer under the Plan in any Plan Year. Reference to a Participant’s
“Supplemental Deferred Salary” shall mean any Base Salary deferred by a Participant under the Plan that does not constitute Basic Deferred Salary.

          Section 1.24       “Deferred Salary Account” means the bookkeeping account established under Section 3.1 on behalf of a Participant, and includes any earnings credited thereon or losses charged thereto pursuant to
Article IV. 

          Section 1.25       “Deferred Salary Election” means the election by a Participant under Section 3.1 to defer until a later year a portion of his or her Base Salary. 

          Section 1.26       “Deferred SERP Distribution” means the amount of a Participant’s SERP distribution that such Participant has elected to defer under this Plan pursuant to an election under Section 3.4.

          Section 1.27       “Deferred SERP Distribution Account” means the bookkeeping account established under Section 3.4 on behalf of a Participant, and includes any earnings credited thereon or losses charged thereto
pursuant to Article IV. 

          Section 1.28       “Deferred SERP Distribution Election” means the election by a Participant under Section 3.4 to defer all or a portion of the Participant’s SERP distribution.

          Section 1.29       “Deferred Stock Account” means the bookkeeping account established under Section 4.3(b) on behalf of a Participant and includes, in addition to amounts stated in that Section, any Dividend
Reinvestment Return credited thereon. 

          Section 1.30       “Deferred Stock Election” means the election by a Participant under Section 4.3(b) to have applicable deferred amounts credited in the form of Common Stock to the Participant’s Deferred Stock
Account. 

          Section 1.31       “Disabled” means that a Participant is totally and permanently disabled as defined in the Company’s Long-Term Disability Plan. 

          Section 1.32       “Dividend Reinvestment Return” means the amounts which are credited to each Participant’s Deferred Stock Account pursuant to Section 4.3(b) to reflect dividends declared by the Company on its
Common Stock. 

          Section 1.33       “Equity-Based Compensation” means (i) November 24, 2003, awards granted under the Stock Award Plan and (ii) Restricted Stock Units, Performance Units, and Other Stock-Based Awards granted under
Sections 7, 8, and 9 of the Equity-Based Compensation Plan, and does not include any such awards that qualify as vested stock, restricted stock, stock option awards, or stock appreciation rights. 

          Section 1.34       “Equity-Based Compensation Plan” means the Becton, Dickinson and Company 2004 Employee and Director Equity-Based Compensation Plan. 

6

          Section 1.35       “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, or any successor statute. 

          Section 1.36       “Excess Compensation” means (i) the sum of a Participant’s base salary and bonus payments for a Plan Year otherwise includible as “Basic Pay” as defined in the Becton, Dickinson and
Company Savings Incentive Plan, without regard to the dollar limit otherwise in effect for such Plan Year under Code section 401(a)(17) or deferrals under this Plan, minus (ii) the dollar limit otherwise in effect for such Plan Year under Code
section 401(a)(17). 

          Section 1.37       “Fiscal Year” means the fiscal year of the Company, which currently is the twelve month period commencing on the first day of October and ending on the last day of September of the following calendar
year. 

          Section 1.38       “Investment Election” means the Participant’s election to have deferred amounts credited with hypothetical earnings credits (or losses) that track the investment performance of the Investment
Options and/or Company Common Stock in accordance with Article IV.

          Section 1.39       “Investment Options” means those hypothetical targeted investment options designated by the Committee as measurements of the rate of return to be credited to (or charged against) amounts deferred to
Participants’ Accounts.  

          Section 1.40       “NYSE” means The New York Stock Exchange. 

          Section 1.41       “Other Stock-Based Awards” means awards granted under Section 9 of the Equity-Based Compensation Plan. 

          Section 1.42       “Participant” means a common law employee of the Company who meets the eligibility and participation requirements set forth in Article II. 

          Section 1.43       “Performance Units” means awards granted under Section 8 of the Equity-Based Compensation Plan. 

          Section 1.44       “Plan” means the Becton, Dickinson and Company Deferred Compensation Plan (previously the Becton, Dickinson and Company Salary and Bonus Deferral Plan) as from time to time in effect. 

          Section 1.45       “Plan Year” means the calendar year. 

          Section 1.46       “Restricted Stock Units” means Restricted Stock Units granted under Section 7 of the Equity-Based Compensation Plan. 

          Section 1.47       “SERP” means the Becton, Dickinson and Company Retirement Benefit Restoration Plan, as from time to time in effect. 

          Section 1.48       “Stock Award Plan” means the Becton, Dickinson and Company Stock Award Plan as the same may be amended from time to time. 

7 

          Section 1.49       “Stock Trust” means the Becton, Dickinson and Company Deferred Salary and Bonus Trust established as of August 15, 1996 between the Company and Wachovia Bank of North Carolina, N.A., as amended from
time to time thereafter. 

8

ARTICLE II 

Eligibility and Participation

 

	Section 2.1	Eligibility
	 	 	 
	 	
(a)     	
An individual shall be eligible to become a Participant in this Plan if the individual meets the following requirements:
	 
	 	 	
(i)     	
the individual is a common law employee of a unit of the Company (or of one of its subsidiaries) to which the Plan has been adopted pursuant to a decision by, or with the approval of, the Board of Directors;
	 
	 	 	
(ii)     	
the individual is not a nonresident alien of the United States receiving no United States source income within the meaning of sections 861(a)(3) or 911(d)(2) of the Code; and
	 
	 	 	
(iii)     	
the employee has annualized Base Salary of $100,000 or more for the calendar year in which the Deferral Election is required to be made.
	 
	 	
(b)     	
The Committee shall have the ability to adjust, prospectively for any Plan Year, the dollar limitation in Section 2.1(a)(iii).
	 
	 	
(c)     	
The Committee may also:
	 
	 	 	
(i)     	
designate as ineligible particular individuals, groups of individuals or employees of business units who otherwise would be eligible under Section 2.1(a); or
	 
	 	 	
(ii)     	
designate as eligible particular individuals, groups of individuals or employees of business units who otherwise would be ineligible under Section 2.1(a).
	 
	 	
(d)     	
An employee who, at any time, ceases to meet the foregoing eligibility requirements, as determined in the sole discretion of the Committee, shall thereafter cease to be a Participant eligible to continue making deferrals
under the Plan, and any deferral elections then in effect shall cease to be effective. In such case, the individual may remain a Participant in the Plan with respect to amounts already deferred prior to the date such individual ceased to be an
active Participant.
	 
	Section 2.2	Participation
	 	 
	 	(a)  	Deferral Election.
      As soon as practicable after the Committee determines that an employee
    is eligible to become a Participant, the Committee shall

9

	      	 	
provide the Participant with the appropriate election forms with which a Participant may make a Deferral Election. In the case of an employee who first becomes eligible during a Plan Year, such Deferral Election may be made
within the first thirty (30) days of eligibility with respect to any Salary to be earned thereafter for the remainder of the Plan Year. In the case of a newly-hired participant, such Deferral Election within the first thirty (30) days of eligibility
may also be made with respect to any Equity- Based Compensation awarded or granted at the time of hire and to be earned thereafter. In the case of Bonus awards granted in 2004 and 2005 and Equity-Based Compensation awards granted in 2003 and 2004,
the Deferred Bonus and Deferred Equity-Based Compensation Elections shall be made by September 30, 2004, or such earlier time determined by the Committee. In the event that such Deferred Bonus and Deferred Equity- Based Compensation Elections are
required by the Committee to be made earlier than September 30, 2004, in order that the Deferral Elections will be grandfathered under certain proposed legislation, but the legislation, as enacted, does not grandfather the Deferral Elections, the
early Deferral Elections shall be void. If the Participant does not return the completed forms to the Committee at such time as required by the Committee, the Participant will not be allowed to participate in the Plan until the next Annual Open
Enrollment Period. All Deferral Elections hereunder (including any modifications of prior Deferral Elections otherwise permitted under the Plan) may be made in accordance with written, electronic or telephonic procedures prescribed by the
Committee.
	 
	 	
(b)     	
Contents of Deferral Election. A Participant’s Deferral Election must be made in the manner designated by the Committee and must be accompanied by:
	 
	 	 	
(i)     	
an election to defer Base Salary, and/or Bonus, and a deferral period election with respect to any Supplemental Deferred Salary and/or
Supplemental Deferred Bonus;
	 
	 	 	
(ii)     	
an election to defer Equity-Based Compensation and a deferral period election with respect to Equity-Based Compensation, as determined by the Committee;
	 
	 	 	
(iii)     	
an election to defer SERP distributions and any Company Discretionary Credits and a separate deferral period election with respect to each such separate category of deferral;
	 
	 	 	
(iv)     	
an Investment Election (except with respect to an Equity-Based Compensation Election, which shall automatically be credited to a Deferred Stock Account for investment return purposes);
	 
	 	 	
(v)     	
a designation of a Beneficiary or Beneficiaries to receive any deferred
amounts owed upon the Participant’s death;
	 

10

	      	      	
(vi)     	
subject to section 2.2(b)(i), a designation as to the form of distribution for each separate year’s deferral and each separate category of deferral (including Company Matching Credits); provided, however, that if no
specific election is made with respect to any deferred amount (including Company Matching Credits), the Participant will be deemed to have elected to receive such amounts in the form of a lump sum distribution (in cash and, solely to the extent
distributable amounts are credited to the Participant’s Deferred Stock Account at the time of the distribution, shares of Common Stock);
	 
	 	 	
(vii)     	
an application for a policy of life insurance under which the Participant is the insured and the Company is the sole owner of and beneficiary under such policy; and
	 
	 	 	
(viii)     	
such additional information as the Committee deems necessary or appropriate.
	 

11

ARTICLE III 

Deferral Elections and Deferral Periods 

	Section 3.1	Deferred Salary Election
	      	 	 
	 	
(a)     	
Each Participant who has elected to defer the maximum pre-tax elective deferral that is permitted for a calendar year under the Becton, Dickinson and Company Savings Incentive Plan and under Code section 402(g) may make a
Deferred Salary Election with respect to Base Salary otherwise to be paid in such calendar year, provided that a valid Deferred Salary Election is made by the date specified in Section 3.1(b). A Participant may elect to defer from 1% to 75% of the
Participant’s Base Salary (in increments of 1%); provided, however, that the Participant must elect a Deferred Salary amount of at least $5,000. Notwithstanding the foregoing, any Deferred Salary Election must be made in a manner that will
ensure that the Participant is paid a sufficient amount of Base Salary that will allow adequate amounts available for (i) any pre-tax elective deferrals under the Becton, Dickinson and Company Savings Incentive Plan, and (ii) any amounts to be
deferred by the Participant in order to participate in any other benefit programs maintained by the Company.
	 
	 	
(b)     	
Except with respect to Deferred Salary Elections made by Participants who first become eligible to participate during a Plan Year (which elections must be made as specified in Section 2.2(a)), a Deferred Salary Election
with respect to Base Salary for a particular calendar year must be made on or before the December 31 (November 9, 2001 with respect to salary earned during the 2002 year) preceding the commencement of such calendar year or at such earlier time as
determined by the Committee.
	 
	 	 	
Once a Deferred Salary Election is made, it shall be irrevocable for the applicable calendar year and apply only to Base Salary otherwise to be paid during the applicable calendar year. Such Deferred Salary shall be
credited to the Participant’s Deferred Salary Account as of the first business day after the last day of each payroll period.
	 
	Section 3.2	Deferred Bonus Election
	 	 	 
	 	(a)	Each Participant who agrees to defer the maximum
      pre-tax elective deferral that is permitted for a calendar year under the
      Becton, Dickinson and Company Savings Incentive Plan and under Code section
      402(g) may elect to make a Deferred Bonus Election with respect to a Bonus
      otherwise to be paid in the calendar year immediately following (or, in
      the discretion of the Committee, in a later year following) the year of
      the Participant’s Deferred Bonus Election. A Participant may elect
      to defer from 1% to 100% of the Participant’s Bonus (in increments
    of 1%); provided,

12

	 	 	
however, that the Participant’s Deferred Bonus Election must result in a deferral of at least $5,000.
	 
	 	
(b)     	
A Deferred Bonus Election with respect to any Bonus to be paid in a particular calendar year must be made on or before the September 30 preceding the commencement of such calendar year (November 9, 2001 with respect to
Bonus amounts to be paid in 2002) or at such earlier time as determined by the Committee. Notwithstanding the foregoing, with respect to Bonus amounts that are not otherwise paid during 2007, an eligible Participant may make a deferral election with
respect to such Bonus at such time as determined by the Committee in a manner consistent with guidance issued pursuant to Code section 409A. Once made, a Deferred Bonus Election cannot be changed or revoked except as provided herein. Such Deferred
Bonus shall be credited to the Participant’s Deferred Bonus Account as of the first business day in January of the year that the Bonus otherwise would have been paid to the Participant in the absence of any deferral hereunder.
	 	 	 
	Section 3.3	Deferred Equity-Based Compensation Election
	 
	 	
(a)     	
To the extent permitted by law on a tax deferred basis, each Participant may elect to make a Deferred Equity-Based Compensation Election with respect to Equity-Based Compensation otherwise to be paid in the calendar year
immediately following (or, in the discretion of the Committee, in a later year following) the year of the Participant’s Deferred Equity-Based Compensation Election. A Participant may elect to defer from 1% to 100% of the Participant’s
Equity-Based Compensation, and may make separate elections with respect to each of the Participant’s Restricted Stock Units, Performance Units, Other Stock-Based Awards, and November 24, 2003, awards under the Stock Award Plan, provided,
however, that the Participant’s total Equity-Based Compensation Election must result in a deferral of at 100 units of Equity-Based Compensation.
	 
	 	
(b)     	
A Deferred Equity-Based Compensation Election with respect to any Equity-Based Compensation to be paid in a particular calendar year must be made on or before September 30 preceding the commencement of such calendar year or
at such earlier time as determined by the Committee.
	 
	 	 	
Once made, a Deferred Equity-Based Compensation Election cannot be changed or revoked except as provided herein. Such Deferred Equity- Based Compensation shall be credited to the Participant’s Deferred Equity-Based
Compensation Account as soon as practicable after the Equity-Based Compensation otherwise would vest and be paid, and will be credited for investment tracking purposes to the Participant’s Deferred Stock Account under Section
4.3(b).
	 

13

	Section 3.4	Deferred SERP Distribution Election
	 	 	 
	 	
(a)     	
Each Participant who is otherwise a participant in the SERP may elect to make a Deferred SERP Distribution Election, at the time specified in subsection (b) below, with respect to a SERP distribution that is otherwise to be
paid to the Participant. A Participant may elect to defer from 1% to 100% of the Participant’s applicable SERP distribution (in increments of 1%); provided, however, that the total of the Participant’s Deferred SERP
Distribution Election must result in a deferral of at least $5,000.
	 
	 	
(b)     	
A Deferred SERP Distribution Election with respect to any SERP distribution payable during a particular calendar year must be made at least one year before the date that the SERP distribution is otherwise payable to the
Participant. Once made, a Deferred SERP Distribution Election cannot be changed or revoked except as provided herein. Such Deferred SERP Distribution shall be credited to the Participant’s Deferred SERP Distribution Account as soon as
practicable after such amount would otherwise have been payable to the Participant. If the Participant otherwise becomes entitled to a SERP distribution after having made such an election and before the end of such one-year period, such election
shall be ineffective and the applicable SERP distribution shall not be deferred hereunder.
	 	 	 
	Section 3.5	Company Matching Credits
	 	 	 
	 	 	If a Participant has made a Deferred Salary Election
      in accordance with Section 3.1 or a Deferred Bonus Election in accordance
      with Section 3.2, then the Participant shall be eligible to have Company
      Matching Credits credited to the Participant’s Company Matching Credit
      Account. Such Company Matching Credits shall be credited to the Participant’s
      Company Matching Credit Account as soon as practicable as determined by
      the Committee after such deferral is credited to the Participant’s
      Deferred Salary Account and/or Deferred Bonus Account and shall be subject
      to the overall Plan Year limit on such amounts described below and the
      vesting schedule described in Article IV. The amount of such Company Matching
      Credits for a Plan Year shall equal the sum of (i) 75% of the total amount
      of Deferred Bonus and Deferred Salary the Participant has deferred under
      the Plan, not in excess of 6% of the Participant’s Excess Compensation,
      plus (ii) 4.5% of the positive difference, if any, of the dollar limit
      otherwise in effect for such Plan Year under Code section 401(a)(17) minus
      the Participant’s actual “Basic Pay” as defined under the
      Becton, Dickinson and Company Savings Incentive Plan; provided, however,
      that in no event shall the total amount of Company Matching Credits to
      which a Participant is entitled to during a Plan Year exceed 4.5% of two
      (2) times the dollar limit otherwise in effect for such Plan Year under
      Code section 401(a)(17). Any Company Matching Credits credited to a Participant’s
    Company Matching Credit Account pursuant to a Deferred
	 

14

	 	 	Salary Election or Deferred Bonus Election
      made in accordance with the terms of the Plan are independent of and not
      affected by any matching contributions to which such Participant is entitled
    to under the Becton, Dickinson and Company Savings Incentive Plan. 
	 	 	 
	Section 3.6	Company Discretionary Credits
	 	 	 
	 	 	The Company may, in its sole discretion,
      provide for additional credits to all or some Participants’ Accounts
      at any time. Such amounts shall be credited to the Participant’s Company
      Discretionary Credit Account and shall be subject to the vesting schedule
    established by the Company at the time such amounts are credited. 
	 	 	 
	Section 3.7	Deferral Period
	 	 	 
	 	
(a)     	
Except as provided in Section 3.7(b), with respect to amounts deferred in accordance with Sections 3.1 through 3.6, in accordance with section 2.2(b), each Participant must elect the deferral period for each separate
category of deferral. Subject to the additional deferral provisions of Section 3.8 and the acceleration provisions of Article V, a Participant’s deferral period may be for a specified number of years or until a specified date, subject to any
limitations that the Committee in its discretion may choose to apply, provided that, in all events, a deferral period must be for at least two (2) years from the first day of the Plan Year in which the deferred amounts would otherwise be payable
(or, in the case of amounts described in Section 3.5 or Section 3.6, credited to the Participant’s Account). However, notwithstanding the deferral period otherwise specified, payments shall be paid or begin to be paid under the Plan in
accordance with the mandatory distribution provisions in Article V.
	 
	 	
(b)     	
Notwithstanding the provisions of Section 3.7(a) and Section 2.2(b), and subject to Section 5.1(f), effective for amounts deferred on and after January 1, 2008,
	 
	 	 	
(i)     	
all Basic Deferred Salary deferred by a Participant pursuant to Section 3.1,
	 
	 	 	
(ii)     	
all Basic Deferred Bonus deferred by a Participant pursuant to Section 3.2, and
	 
	 	 	
(iii)     	
all Company Matching Credits credited to a Participant’s Company Matching Credit Account pursuant to Section 3.5
	 
	 	 	
shall be deferred until the Participant’s termination of employment with the Company and may not be deferred to a specified date prior to such Participant’s termination of employment with the Company.
	 

15

	Section 3.8	Modification of Deferral Period
	 	 	 
	 	
(a)     	
With respect to any previously deferred amount credited to a Participant’s Accounts, a Participant may request that the Committee approve an additional deferral period of at least two (2) years from the date the
previously deferred amounts were otherwise payable. Any such request must be made by written notice to the Committee at least twelve (12) months before the expiration of the deferral period for any previously deferred amount with respect to which an
additional deferral election is requested. A separate additional deferral election is required to be made for each separate category of previously deferred amount that is treated as subject to a single deferral period election under section 2.2(b)
above. Each such additional deferral election request shall include a newly designated manner of payment election in accordance with the provision of Section 5.2 below. No more than two such extensions may be elected by a
Participant with respect to any specific deferred amount.
	 
	 	
(b)     	
With respect to any previously deferred amount credited to a Participant’s Accounts, a Participant may request that the Committee approve an accelerated deferral date with respect to amounts that are not otherwise
payable for at least three (3) years from the date of such request, provided that the resulting accelerated deferral date may not be any earlier than two (2) years from the date of such Participant election. A separate deferral modification election
is required to be made for each separate category of previously deferred amount that is treated as subject to a single deferral period election under section 2.2(b) above. Each such modified deferral period request shall include a newly designated
manner of payment election in accordance with the provisions of Section 5.2 below. No more than two such modifications may be elected by a Participant with respect to any specific deferred amount.
	 

16

ARTICLE IV 

Participants’ Accounts 

	Section 4.1	Crediting of Employee Deferrals and Company
        Matching and  Discretionary
    Credits
	 	 	 
	 	 	Deferrals to this Plan that are made
      under Article III shall be credited to the Participant’s Accounts
      in accordance with such rules established by the Committee from time to
      time. Each Participant’s Accounts shall be administered in a way to
      permit separate Deferral Elections, deferral periods, and Investment Elections
      with respect to various Plan Year deferrals and compensation types as the
    Committee determines, in its sole discretion, are necessary or appropriate. 
	 	 	 
	Section 4.2	Investment Election
	 	 	 
	 	 	Effective January 1, 2002, all balances
      reflected through December 31, 2001 credited to the Accounts of Participants
      who are not actively employed on January 1, 2002 shall continue to be credited
      with earnings (or charged with losses) to reflect the income (or loss)
      that would have been earned had the deferred amounts been invested in the
      Investment Options then in effect with respect to such Participants. With
      respect to amounts credited to all other Participants’ Accounts under
      the Plan, Participants’ Investment Elections with respect to deferred
      amounts hereunder shall be made pursuant to the written, telephonic or
      electronic methods prescribed by the Committee and subject to such rules
      on Investment Elections and Investment Options as established by the Committee
      from time to time. Upon receipt by the Committee, and in accordance with
      rules established by the Committee, an Investment Election shall be effective
      as soon as practicable after receipt and processing of the election by
      the Committee. Investment Elections will continue in effect until changed
      by the Participant. An eligible Participant (including a Participant who
      terminates employment on or after January 1, 2002) may change a prior Investment
      Election (or default Investment Election) with respect to deferred amounts
      on a monthly basis, by notifying the Committee, at such time and in such
      manner as approved by the Committee. Any such changed Investment Election
      may result in amending Investment Elections for prior deferrals or for
    future deferrals or both.
	 	 	 
	Section 4.3	Hypothetical Earnings
	 	 	 
	 	
(a)     	
General. Subject to Section 4.2, additional hypothetical bookkeeping amounts shall be credited to (or deducted from) a Participant’s Accounts to reflect the earnings (or losses)
that would have been experienced had
	 

17

	 	 	
the deferred amounts been invested in the Investment Options selected by the Participant as targeted rates of return, net of all fees and expenses otherwise associated with the Investment Options. The Committee may add or
delete Investment Options, on a prospective basis, by notifying all Participants whose Accounts are hypothetically invested in such Options, in advance, and soliciting elections to transfer deferred amounts so that they track investments in other
Investment Options then available.
	 
	 	
(b)     	
Company Stock Investment Option. Instead of having deferred amounts credited with hypothetical earnings (or losses) in accordance with Section 4.3(a), and subject to Section 4.2, a
Participant may elect to have all or part of the Participant’s deferred amounts (in whole percentage increments) credited in the form of Common Stock to a Deferred Stock Account. Such an election may be made as a part of the Participant’s
Deferral Election and thereafter on the same basis as Participants are permitted to make other Investment Elections and using the same or similar procedures as participants use to make other Investment Elections under Section 4.2. In addition, any
amounts credited to a Participant’s Accounts other than the Participant’s Deferred Stock Account may be transferred for hypothetical investment tracking purposes to the Participant’s Deferred Stock Account. In all events, once amounts
are credited to a Participant’s Deferred Stock Account, no Investment Election may cause amounts credited to a Participant’s Deferred Stock Account to be transferred for hypothetical investment tracking purposes to a Participant’s
Accounts other than the Participant’s Deferred Stock Account. All distributions of amounts credited to a Participant’s Deferred Stock Account may only be distributed in whole shares of Common Stock (with cash for fractional
shares).
	 
	 	 	
A Participant’s Deferred Stock Account will be credited:
	 
	 	 	(i) 	
as of the first business day after the last day of each bi-weekly payroll period, with the number of shares of Common Stock (in whole shares and fractional shares, as determined by the Committee) determined by dividing the Participant’s deferred amounts attributable to Deferred
Salary for such bi-weekly payroll period subject to the Deferred Stock Election by the price for shares of Common Stock, determined by the Committee, as of the day such deferred amounts are credited to the Participant’s Account;
and
	 
	 	 	(ii) 	
annually, as of the first business day in January of
each calendar year, with the number of shares of Common Stock (in whole shares and fractional shares, as determined by the Committee) determined by dividing the portion of the Participant’s Deferred Bonus and Company Matching
Credits subject to the Deferred Stock Election by the price for shares of Common Stock, determined by the
	 

18

	 	 	 	
Committee, as of the day such deferred amounts are credited to the Participant’s Accounts; and
	 
	 	 	
(iii)     	
at such other times as the Committee determines with respect to all other deferred amounts under the Plan, with the number of shares of Common Stock (in whole shares and fractional shares, as determined by the Committee)
determined by dividing the portion of the Participant’s deferred amounts to be credited in the Deferred Stock Account by the price for shares of Common Stock, determined by the Committee, as of the day such deferred amounts are credited to the
Participant’s Account, or, in the case of deferred amounts measured in stock units, by crediting the account with the same number of shares of Common Stock.
	 	 	 	 
	 	 	If the Company enters into
        transactions involving stock splits, stock dividends, reverse splits
        or any other recapitalization transactions, the number of shares of Common
        Stock credited to a Participant’s Deferred Stock Account will be
        adjusted (in whole shares and fractional shares, as determined by the
        Committee) so that the Participant’s Deferred Stock Account reflects
        the same equity percentage interest in the Company after the recapitalization
        as was the case before such transaction. 

	 
	 	 	     If at least a majority of the
        Company’s stock is sold or exchanged by its shareholders pursuant
        to an integrated plan for cash or property (including stock of another
        corporation) or if substantially all of the assets of the Company are
        disposed of and, as a consequence thereof, cash or property is distributed
        to the Company’s shareholders, each Participant’s Deferred
        Stock Account will, to the extent not already so credited under this
        Section 4.3(b), be (i) credited with the amount of cash or property receivable
        by a Company shareholder directly holding the same number of shares of
        Common Stock as is credited to such Participant’s Deferred Stock
        Account and (ii) debited by that number of shares of Common Stock surrendered
      by such equivalent Company shareholder. 

	 
	 	 	
     Each time the Company declares
        a dividend on its Common Stock, each Participant’s Deferred Stock
        Account will be credited with a Dividend Reinvestment Return equal to
        that number of shares of Common Stock (in whole shares and fractional
        shares, as determined by the Committee) determined by dividing (i) the
        amount that would have been paid (or the fair market value thereof, if
        the dividend is not paid in cash) to the Participant on the total number
        of shares of Common Stock credited to the Participant’s Deferred
        Stock Account had that number of shares of Common Stock been held by
        such Participant by (ii) the price for shares of Common Stock, determined
    by the Committee, as of the dividend payment date. 

	 

19

	 	
(c)     	
Limitations on Allocations and Reallocations to and From Deferred Stock Account.
	 	 	 
	 	 	Pursuant to the Policy Statement on Insider Trading
      and Compliance, as the same may be amended (the “Policy”), there
      are time periods (each, a “blackout period”) during which time
      Participants may not effect transactions, directly or indirectly, in Company
      equity securities. Under the Policy, the Company’s Corporate Secretary
      may also impose additional blackout periods with respect to some or all
      Participants. Participants whose ability to effect transactions is prohibited
      during such blackout periods also will be prohibited during such periods
      from making any Investment Election or Deferred Stock Election that increases
      or decreases the amount credited to the participant’s Deferred Stock
      Account. The Committee, at the direction of the Company’s Corporate
      Secretary, shall adopt and implement procedures to ensure that the provisions
    of this Paragraph are carried out.
	 	 	 
	Section 4.4	Vesting
	 	 	 
	 	 	At all times a Participant shall be fully vested
      in his Deferred Salary, Deferred Bonus, Deferred Equity-Based Compensation,
      and Deferred SERP Distribution Accounts hereunder (including any earnings
      or losses and Dividend Reinvestment Return thereon). A Participant shall
      become vested in any Company Matching Credits in the same manner and to
      the same extent as the Participant is vested in matching contributions
      otherwise credited to the Participant under the Becton, Dickinson and Company
      Savings Incentive Plan. A Participant shall become vested in any Company
      Discretionary Credits pursuant to the vesting schedule established by the
      Company at the time such Credits, if any, are made. Except as otherwise
      provided in Section 5.1(b) (death) or Section 5.1(c) (disability), if a
      Participant terminates employment at any time prior to becoming fully vested
      in amounts credited to the Participant’s Accounts hereunder, the nonvested
      amounts credited to the Participant’s Accounts shall be immediately
      forfeited and the Participant shall have no right or interest in such nonvested
    deferred amounts.
	 	 	 
	Section 4.5	Account Statements
	 	 
	 	Within 60 days following the end of each Plan
      Year (or at such more frequent times determined by the Committee), the
      Committee shall furnish each Participant with a statement of Account which
      shall set forth the balances of the individual’s Accounts as of the
      end of such Plan Year (or as of such time determined by the Committee),
      inclusive of tracked earnings (or losses) and any Dividend Reinvestment
      Return. In addition, the Committee shall maintain records reflecting each
    year’s deferrals separately by type of compensation.
	 

20

ARTICLE V 

Distributions and Withdrawals 

	Section 5.1	Timing of Distribution
	 	 	 
	 	
(a)     	
Time of Distribution – Distributions Other than Death, Disability, or Scheduled Distributions. Except as otherwise provided herein in the case of a Participant who retires and
subject to Section 5.1(d), a Participant’s vested Accounts shall be paid or commence to be paid, in the form of distribution elected in a particular Deferral Election (subject to Section 5.2), at such date as determined in the sole discretion
of the Committee following the earlier of: (i) the Participant’s termination of employment, or (ii) the date otherwise specified in the Participant’s Deferral Election. In the case of a Participant who retires from employment hereunder (as
defined below), and subject to Section 5.1(d), a Participant’s vested Accounts shall be paid or commence to be paid, in the form of distribution elected in a particular Deferral Election (subject to Section 5.2), at such date as determined in
the sole discretion of the Committee following the later of: (i) the Participant’s retirement from active employment (or, in the case of certain Equity-Based Compensation that vests one year after retirement, one year after retirement), or (ii)
the date otherwise specified in the Participant’s Deferral Election; provided however that, in all events distributions to such a retired Participant must be made (or commence to be paid) as of the earlier of the Participant’s attainment
of age 70 or death. For purposes of this Section 5.1(a), a Participant has “retired” from active employment if:
	 
	 	 	
(i)     	
the Participant terminates from active employment after having attained age 65 with five years of service with the Company or an affiliate;
	 
	 	 	
(ii)     	
the Participant terminates from active employment after having attained age 55 with ten years of service with the Company or an affiliate; or
	 
	 	 	
(iii)     	
the Committee, in its sole discretion, otherwise determines that the Participant has retired for this purpose.
	 
	 	
(b)     	
Timing of Distributions – Participant’s Death. If a Participant dies before the full distribution of the Participant’s Accounts under this Article V, any deferred
amounts that are not vested and have not previously been forfeited shall become 100% vested. Unless the Participant had commenced receiving installment payments, as soon as practicable after the Participant’s death, all remaining amounts
credited to the Participant’s Accounts shall be paid in a single lump sum payment to the Participant’s
	 

21

	 	 	named beneficiary (or beneficiaries). In the
      absence of any beneficiary designation, payment shall be made to the personal
      representative, executor or administrator of the Participant’s estate.
      Beneficiary designations may be changed by a Participant at any time without
      the consent of the Participant’s spouse or any prior beneficiary.
      If the Participant dies after having commenced to receive installment payments,
      the Participant’s beneficiary may accelerate the payment of any remaining
    installment payments as follows: 
	 	 	 	 
	 	 	
(i)     	
The beneficiary may request (within a reasonable time after the Participant’s death, as specified by the Committee) that all remaining installment payments that are otherwise to be paid to the beneficiary at least
twelve (12) months after the date of the request be accelerated and paid in a single lump sum payment as of a date specified by the Committee that is at least twelve (12) months after the date of the request; or
	 
	 	 	
(ii)     	
The beneficiary may request (within a reasonable time after the Participant’s death, as specified by the Committee) that all remaining installment payments that are otherwise to be paid to the beneficiary be
accelerated and paid in the form of an immediate lump sum payment, subject to the requirement that ten percent (10%) of the remaining amounts be permanently forfeited.
	 
	 	
(c)     	
Timing of Distributions – Participant’s Disability. Notwithstanding anything in the Plan to the contrary, if a Participant becomes Disabled, the Participant will be treated
as having terminated employment and any deferred amounts that are not vested and have not previously been forfeited shall become 100% vested. Notwithstanding anything in a Participant’s Deferral Election to the contrary with respect to payment
commencement, as soon as practicable after the Participant becomes Disabled, all remaining amounts credited to the Participant’s Accounts shall be paid or commence to be paid to the Participant in the form of distribution elected by the
Participant in the Participant’s Deferral Election. In addition, as soon as practicable after the Participant becomes Disabled, the Participant may request that the Committee change any installment distribution election so that amounts subject
to the election are accelerated and paid in the form of a single lump sum distribution. Such distribution shall be made only if the Committee, taking into account the type of factors taken into account in the event of a hardship under Section
5.1(f), in its sole discretion, approves such request.
	 
	 	
(d)     	
Scheduled Distribution. As a part of the Participant’s Deferral Election, a Participant may elect to receive a lump sum distribution or annual installments (over 2, 3, 4 or 5
years, as elected by the Participant) equal to all or any part of the vested balance of the Participant’s Accounts to be paid (or commence to be paid) at a scheduled distribution date, subject to
	 

22

	 	 	
the timing requirements in Section 5.1(a). For these purposes, the amount of each installment payment shall be determined by multiplying the value of the Participant’s remaining vested Accounts subject to the scheduled
distribution election by a fraction, the numerator of which is one (1) and the denominator of which is the number of calendar years remaining in the installment period. These scheduled distributions are generally available only for distributions
that are scheduled to commence to be paid while a Participant is employed by the Company. If a Participant terminates employment before commencing receipt of scheduled distributions, the timing requirements of Section 5.1(a) shall apply (which
requirements provide for payment upon termination of employment, unless the Participant has attained retirement age, in which case a later distribution date may apply). If a Participant terminates employment while receiving scheduled installment
payments, such installment payments shall continue to be paid in the same form of distribution, subject to the Participant’s right to accelerate the remaining payments in accordance with Section 5.1(e) or Section 5.1(f). Notwithstanding the
foregoing, if a Participant’s employment is terminated for cause, as determined by the Company, full payment of all remaining amounts in such Participant’s Account shall be paid in the form of a single lump sum payment as soon as
practicable after such termination.
	 
	 	
(e)     	
Early Distribution. Notwithstanding any other provision of the Plan, a Participant or beneficiary may, at any time prior to or subsequent to commencement of payments, request in
writing to the Committee to have any or all vested amounts in his or her Accounts paid in an immediate lump sum distribution, provided that an amount equal to ten percent (10%) of the requested distribution shall be permanently forfeited from the
Participant’s Accounts prior to such distribution. Any such lump sum distribution shall be paid as soon as practicable after the Committee’s receipt of the Participant’s (or beneficiary’s) request. The minimum permitted early
distribution under this Section 5.1(e) shall be $3,000.
	 
	 	
(f)     	
Hardship Distribution. At any time prior to the time an amount is otherwise payable hereunder, an active Participant may request a distribution of all or a portion of any vested
amounts credited to the Participant’s Accounts on account of the Participant’s financial hardship, subject to the following requirements:
	 
	 	 	
(i)     	
Such distribution shall be made, in the sole discretion of the Committee, if the Participant has incurred an unforeseeable emergency.
	 
	 	 	
(ii)     	
For purposes of this Plan, an “unforeseeable emergency” shall mean an unanticipated emergency that is caused by an event beyond the control of the Participant and that would result in severe financial hardship to
the Participant resulting from a sudden
	 

23

	 	 	
and unexpected illness or accident of the Participant or of a Participant’s dependent (as defined in Code section 152(a)), loss of the Participant’s property due to casualty, or other similar extraordinary and
unforeseeable circumstances arising as a result of events beyond the Participant’s control. The circumstances that will constitute an unforeseeable emergency will depend upon the facts of each case and be based on the information supplied by
the Participant, in writing, pursuant to the procedure prescribed by the Committee. In addition to the foregoing, distributions under this subsection shall not be allowed for purposes of sending a child to college or the Participant’s desire to
purchase a home or other residence. In all events, distributions made on account of an unforeseeable emergency are limited to the extent reasonably needed to satisfy the emergency need.
	 
	 	
(iii)     	
Notwithstanding the foregoing, payment under this subsection may not be made to the extent that such hardship is or may be relieved:
	 
	 	 	
(A)     	
through reimbursement or compensation by insurance or otherwise,
	 
	 	 	
(B)     	
by liquidation of the Participant’s assets, to the extent the liquidation of such assets would not itself cause severe financial hardship, or
	 
	 	 	
(C)     	
by cessation of deferrals under the Plan.
	 
	 	
(iv)     	
All distributions under this subsection shall be made in cash as soon as practicable after the Committee has approved the distribution and that the requirements of this subsection have been met.
	 
	 	
(v)     	
The minimum permitted hardship withdrawal shall be $3,000.
	 
	Section 5.2 	Form of Distribution
	 	 	 	 
	 	
(a)     	
General. Except as otherwise provided in this Article V, all amounts payable from a Participant’s Accounts shall be paid in one of the forms of distribution described in
Subsections (b) and (c) below, as elected by the Participant in a Deferral Election or as modified by the Participant in accordance with Subsection (d) below. Any Participant who fails to elect a form of distribution with respect to any deferral
amount (or any compensation type) shall be deemed to have elected to receive such amounts in the form of a lump sum distribution in cash and, to the extent distributable amounts are credited to the Participant’s Deferred Stock Account, in
shares of Common Stock (with any fractional share interest therein paid in cash to the extent of the then fair market value thereof).
	 

24

	 	
(b)     	
Lump Sum Distribution. A Participant may elect, in accordance with such procedures established by the Committee, to have any vested deferral amounts credited to his Accounts paid in
the form of a single lump sum distribution at the time otherwise required or permitted under the Plan.
	 
	 	
(c)     	
Annual Installment Distributions. A Participant may elect, in accordance with such procedures established by the Committee, to have any vested deferral amounts credited to his
Accounts paid at the time otherwise required or permitted in the form of annual installments over a 5, 10 or 15- year period commencing at the time otherwise required or permitted under the Plan and paid annually thereafter for the remainder of the
installment period (subject to Section 5.1(b)). For these purposes, the amount of each installment payment shall be determined by multiplying the value of the Participant’s remaining vested Accounts by a fraction, the numerator of which is one
(1) and the denominator of which is the number of calendar years remaining in the installment period. Notwithstanding the foregoing, if a Participant’s employment is terminated for cause, as determined by the Company, full payment of all
remaining amounts in such Participant’s Account shall be paid in the form of a single lump sum payment as soon as practicable after such termination.
	 
	 	
(d)     	
Change in Form
	 
	 	 	
(i)     	
Notwithstanding the foregoing, in accordance with the written, telephonic or electronic procedures prescribed by the Committee, a Participant may elect to change the form applicable to a particular category of deferral at
any time, provided that such election must be made at least twelve (12) consecutive months before the date on which such distribution otherwise would have been made or commenced. Any such change that is not in effect for at least the applicable
twelve (12) month period shall be disregarded and the last valid election shall be substituted in its place. In the absence of such a valid election, distribution shall be made in the form of a single lump sum distribution in cash and, to the extent
distributable amounts are credited to the Participant’s Deferred Stock Account, in shares of Common Stock (with any fractional share interest therein paid in cash to the extent of the then fair market value thereof).
	 
	 	 	
(ii)     	
In addition, with respect to a Participant who has commenced receiving installment payments, such Participant may elect, pursuant to the written, telephonic or electronic method prescribed by the Committee (or its
delegate), to have all remaining installment payments that are otherwise to be paid to the Participant at least twelve (12) months after the date of the election be accelerated and paid in a single
lump sum payment as of a date specified by the Committee that is at least twelve (12) months after the date of the election.
	 

25

ARTICLE VI 

General Provisions

	Section 6.1	Unsecured Promise to Pay
	 	 
	 	The Company shall make no provision for the
        funding of any amounts payable hereunder that (i) would cause the Plan
        to be a funded plan for purposes of section 404(a)(5) of the Code, or
        Title I of ERISA, or (ii) would cause the Plan to be other than an “unfunded
        and unsecured promise to pay money or other property in the future” under
        Treasury Regulations § 1.83 -3(e); and, except to the extent specified
        in the Stock Trust following a “change of control” (as defined
        in the Stock Trust) of the Company, the Company shall have no obligation
        to make any arrangement for the accumulation of funds to pay any amounts
        under this Plan. Subject to the restrictions of the preceding sentence
        and in Section 4.3, the Company, in its sole discretion, may establish
        one or more grantor trusts described in Treasury Regulations § 1.677(a)
        -1(d) to accumulate funds and/or shares of Common Stock to pay amounts
        under this Plan, provided that the assets of such trust(s) shall be required
        to be used to satisfy the claims of the Company’s general creditors
    in the event of the Company’s bankruptcy or insolvency.
	 	 
	Section 6.2	Plan Unfunded
	 	 
	 	In the event that the Company (or one of its
        subsidiaries) shall decide to establish an advance accrual reserve on
        its books against the future expense of payments hereunder, such reserve
        shall not under any circumstances be deemed to be an asset of this Plan
        but, at all times, shall remain a part of the general assets of the Company
        (or such subsidiary), subject to claims of the Company’s (or such
        subsidiary’s) creditors. A person entitled to any amount under this
        Plan shall be a general unsecured creditor of the Company (or the Participant’s
        employer subsidiary) with respect to such amount. Furthermore, a person
        entitled to a payment or distribution with respect to any amounts credited
        to Participant Accounts shall have a claim upon the Company (or the Participant’s
        employer subsidiary) only to the extent of the vested balance(s) credited
    to such Accounts.
	 	 
	Section 6.3	Designation of Beneficiary
	 	 
	 	The Participant’s beneficiary under this
        Plan with respect to amounts credited to the Participant’s Accounts
        hereunder shall be the person designated to receive benefits on account
    of the Participant’s death on a form provided by the Committee. 
	 	 

26

	Section 6.4	Expenses
	 	 
	 	All commissions, fees and expenses that may
        be incurred in operating the Plan and any related trust(s) established
        in accordance with the Plan (including the Stock Trust) will be paid
    by the Company. 
	 	 
	Section 6.5	Voting Common Stock
	 	 
	 	Each Participant who has a Deferred Stock Account
        shall be entitled to provide directions to the Committee to cause the
        Committee to similarly direct the Trustee of the Stock Trust to vote,
        on any matter presented for a vote to the shareholders of the Company,
        that number of shares of Common Stock held by the Stock Trust equivalent
        to the number of shares of Common Stock credited to the Participant’s
        Deferred Stock Account. The Committee shall arrange for distribution
        to all such Participants in a timely manner all communications directed
        generally to the shareholders of the Company as to which their votes
        are solicited. If the Stock Trust ever holds fewer shares of Common Stock
        than there are shares allocated to Deferred Stock Accounts under the
        Plan as to which timely and proper directions have been received from
        the applicable Plan participants, the Committee will direct the Trustee
        to vote all shares held in the Stock Trust in the same proportion as
        the total shares covered by timely and proper directions that have been
    directed to be voted.
	 	 
	Section 6.6	Non-Assignability
	 	 
	 	Participants, their legal representatives and
        their beneficiaries shall have no right to anticipate, alienate, sell,
        assign, transfer, pledge or encumber their interests in the Plan, nor
        shall such interests be subject to attachment, garnishment, levy or execution
    by or on behalf of creditors of the Participants or of their beneficiaries. 
	 	 
	Section 6.7	Mandatory Deferral
	 	 
	 	Notwithstanding any other provision of this
        Plan, the Compensation and Benefits Committee of the Company’s Board
        of Directors may require an employee to defer: (i) the portion of any
        Base Salary, Bonus amount, Equity-Based Compensation, or SERP distribution,
        or (ii) the portion of any payment from any Account hereunder, in any
        case where the Company anticipates that such portion otherwise would
    be nondeductible pursuant to section 162(m) of the Code. 
	 	 
	Section 6.8	Employment/Participation Rights
	 	 
	      	(a)     	Nothing in the Plan shall interfere with or
        limit in any way the right of the Company to terminate any Participant’s
        employment at any time, nor confer upon any Participant any right to
        continue in the employ of the Company.
	 	 	 

27

	      	
(b)     	
Nothing in the Plan shall be construed to be evidence of any agreement or understanding, express or implied, that the Company will continue to employ a Participant in any particular position or at any particular rate of
remuneration.
	 
	 	
(c)     	
No employee shall have a right to be selected as a Participant, or, having been so selected, to be continued as a Participant.
	 
	 	
(d)     	
Nothing in this Plan shall affect the right of a recipient to participate in and receive benefits under and in accordance with any pension, profit-sharing, deferred compensation or other benefit plan or program of the
Company.
	 	 	 
	Section 6.9	Severability
	 	 
	 	If any particular provision of the Plan shall
      be found to be illegal or unenforceable for any reason, the illegality
      or lack of enforceability of such provision shall not affect the remaining
      provisions of the Plan, and the Plan shall be construed and enforced as
    if the illegal or unenforceable provision had not been included. 
	 	 
	Section 6.10	No Individual Liability
	 	 
	 	It is declared to be the express purpose and
      intention of the Plan that no liability whatsoever shall attach to or be
      incurred by the shareholders, officers, or directors of the Company (or
      any affiliate) or any representative appointed hereunder by the Company
      (or any affiliate), under or by reason of any of the terms or conditions
    of the Plan. 
	 	 
	Section 6.11	Tax and Other Withholding
	 	 
	 	The Company shall have the right to deduct from
      any payment made under the Plan any amount required by federal, state,
      local, or foreign law to be withheld with respect to such payment. The
      Company shall also have the right to withhold from other current salary
      or wages any amount required by federal, state, local, or foreign law to
      be withheld with respect to compensation deferred under the Plan at any
      time prior to payment of such deferred compensation, or if such other current
      salary or wages are insufficient to satisfy such withholding requirement,
      to require the Participant to pay the Company such amount required to be
      withheld to the extent such requirement cannot be satisfied through withholding
      on other current salary or wages. Additionally, should deferrals under
      this Plan cause there to be insufficient current salary or wages for purposes
      of withholding taxes or other amounts required by federal, state, local,
      or foreign law to be withheld from current salary or wages, the Company
      shall require the Participant to pay the Company such amount required to
      be withheld to the extent such requirement cannot be satisfied through
    withholding on other
	 

28

	 	current salary or wages. Amounts
        deferred under the Plan will be taken into account for purposes of any
        withholding obligation under the Federal Insurance Contributions Act
        and Federal Unemployment Tax Act at the later of the Plan Year during
        which the services are performed or the Plan Year during which the rights
        to the amounts are no longer subject to a substantial risk of forfeiture,
        as required by section 3121(v) and 3306(r) of the Code and the regulations
    promulgated thereunder. 
	 	 
	Section 6.12	Applicable Law
	 	 
	 	This Plan shall be governed by and construed
        in accordance with the laws of the State of New Jersey except to the
    extent governed by applicable federal law. 
	 	 
	Section 6.13	Incompetency
	 	 
	 	Any person receiving or claiming benefits under
        the Plan shall be conclusively presumed to be mentally competent and
        of age until the Committee receives written notice, in a form and manner
        acceptable to it, that such person is incompetent or a minor, and that
        a guardian, conservator, or other person legally vested with the care
        of his estate has been appointed. If the Committee finds that any person
        to whom a benefit is payable under the Plan is unable to properly care
        for his or her affairs, or is a minor, then any payment due (unless a
        prior claim therefor shall have been made by a duly appointed legal representative)
        may be paid to the spouse, a child, a parent, or a brother or sister,
        or to any person deemed by the Committee to have incurred expense for
        the care of such person otherwise entitled to payment. If a guardian
        or conservator of the estate of any person receiving or claiming benefits
        under the Plan shall be appointed by a court of competent jurisdiction,
        payments shall be made to such guardian or conservator provided that
        proper proof of appointment is furnished in a form and manner suitable
        to the Committee. Any payment made under the provisions of this Section
    shall be a complete discharge of liability therefor under the Plan. 
	 	 
	Section 6.14	Notice of Address
	 	 
	 	Any payment made to a Participant or a designated
        beneficiary at the last known post office address of the distributee
        on file with the Committee, shall constitute a complete acquittance and
        discharge of any obligations of the Company under this Plan, unless the
        Committee shall have received prior written notice of any change in the
        condition or status of the distributee. Neither the Committee, the Company
        nor any director, officer, or employee of the Company shall have any
        duty or obligation to search for or ascertain the whereabouts of a Participant
    or a designated beneficiary. 
	 	 

29

ARTICLE VII

Administration

	Section 7.1	Committee
	 	 
	 	Prior to a Change in Control, the Plan shall
        be administered by the Committee. The Committee shall have the exclusive
        right to interpret the Plan (including questions of construction and
        interpretation) and the decisions, actions and records of the Committee
        shall be conclusive and binding upon the Company and all persons having
        or claiming to have any right or interest in or under the Plan. The Committee
        may delegate to such officers, employees or departments of the Company,
        or to service-providers or other persons, such authority, duties, and
        responsibilities of the Committee as it, in its sole discretion, considers
        necessary or appropriate for the proper and efficient operation of the
        Plan, including, without limitation, (i) interpretation of the Plan,
        (ii) approval and payment of claims, and (iii) establishment of procedures
        for administration of the Plan. Notwithstanding the foregoing, after
        a Change in Control, the trustee of any grantor trust established for
        the purpose of accumulating funds to satisfy the obligations incurred
        by the Company under this Plan shall administer the Plan and shall have
        the same privileges and rights as given to the Committee prior to a Change
    in Control.
	 	 
	
 Section 7.2	Claims Procedure
	 	 
	 	Any person dissatisfied with the Committee’s
        determination of a claim for benefits (or claim for eligibility for participation)
        hereunder must file a written request for reconsideration with the Committee.
        This request must include a written explanation setting forth the specific
        reasons for such reconsideration. The Committee shall review its determination
        promptly and render a written decision with respect to the claim, setting
        forth the specific reasons for such denial written in a manner calculated
        to be understood by the claimant. Such claimant shall be given a reasonable
        time within which to comment, in writing, to the Committee with respect
        to such explanation. The Committee shall review its determination promptly
        and render a written decision with respect to the claim. Such decision
        of the Committee shall be conclusive, binding, and final upon all claimants
    under this Plan.
	 	 

30

ARTICLE VIII 

Amendment, Termination and Effective Date 

	Section 8.1	Amendment of the Plan
	 	 
	 	Subject to Section 8.3, the Plan may be wholly
        or partially amended or otherwise modified at any time by written action
    of the Board of Directors. 
	 	 
	Section 8.2	Termination of the Plan
	 	 
	 	Subject to the provisions of Section 8.3, the
        Plan may be terminated at any time by written action of the Board of
    Directors. 
	 	 
	Section 8.3	No Impairment of Benefits
	 	 
	 	Notwithstanding the provisions of Sections
        8.1 and 8.2, no amendment to or termination of the Plan shall reduce
    the amount credited to any Participant’s Accounts hereunder. 
	 	 
	Section 8.4	Effective Date
	 	 
	 	The Plan, as previously amended and restated,
        was effective as of August 15, 1996. The Plan as set forth herein is
    amended and restated effective as of December 31, 2007.
	 	 

31

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