Document:

Exhibit 10.56

PREMIERE GLOBAL SERVICES, INC. 401(K) PLAN

 Nonstandardized 401(k) Plan

 ADOPTION AGREEMENT #005

NONSTANDARDIZED 401(k) PLAN

[Related Employers only]

					
	  	  	 The undersigned Employer, by executing this Adoption Agreement, establishes a retirement plan and trust (collectively "Plan")
	 under the Wells Fargo Defined Contribution Prototype Plan and Trust Agreement (basic plan document #01). The Employer, subject to
	 the Employer's Adoption Agreement elections, adopts fully the Prototype Plan and Trust provisions. This Adoption Agreement, the basic plan
	 document and any attached Appendices or agreements permitted or referenced therein, constitute the Employer's entire plan and trust
	 document. All "Election" references within this Adoption Agreement are Adoption Agreement Elections. All "Article" or "Section"
	 references are basic plan document references. Numbers in parentheses which follow election numbers are basic plan document
	 references. Where an Adoption Agreement election calls for the Employer to supply text, the Employer (without altering the content of any
	 existing printed text) may lengthen any space or line, or create additional tiers. When Employer-supplied text uses terms substantially
	 similar to existed printed options, all clarifications and caveats applicable to the printed options apply to the Employer-supplied text
	 unless the context requires otherwise. The Employer makes the following elections granted under the corresponding provisions of the basic
	 plan document.	  
	 ARTICLE I
	 DEFINITIONS
	 1. EMPLOYER (1.23).
	 	 	 
	  	  	 Name: Premiere Global Services, Inc.     
	 	 	 
	  	  	 Address: 3280 Peachtree Road, N.W., Suite 1000, Atlanta, Georgia 30305  
	 	 	 
	  	  	 Phone number: 404-262-8400    
	 	 	 
	  	  	 E-mail (optional): _______________________________   
	 	 	 
	  	  	 Employer's Taxable Year: December 31    
	 	 	 
	  	  	 EIN: 59-3074176    
	  
	 2.	  	 PLAN (1.40).
	 	 	 
	  	  	 Name: Premiere Global Services, Inc. 401(k) Plan
	 	 	 
	  	  	 Plan number: 001_______________________________         (3-digit number for Form 5500 reporting)
	 	 	 
	  	  	 Trust EIN (optional): _______________________________   
	  	 	  
	 3. PLAN/LIMITATION YEAR (1.42/1.33). Plan Year and Limitation Year mean the 12 consecutive month period (except for a short
	 Plan/Limitation Year) ending every (Complete (a) and (b)):
	 [Note: Complete any applicable blanks under Election 3 with a specific date, e.g., "June 30" OR "the last day of February" OR "the first
	 Tuesday in January." In the case of a Short Plan Year or a Short Limitation Year, include the year, e.g., "May 1, 2008."]
	 
	 (a) 	Plan Year (Choose one of (1) or (2) and choose (3) if applicable): 
	 	 	 	 	 
	  	  	 (1)	 [X] 	December 31.
	 	 	 	 	 
	  	  	 (2)	 [   ]	  Fiscal Plan Year: ending:
	 	 	 	 	 
	  	  	 (3)	 [   ]	  Short Plan Year: commencing: _____________ and ending: ___________ .
	 	 	 
	 (b)	  	 Limitation Year (Choose one of (1) or (2) and choose (3) if applicable):
	 	 	 	 	 
	 (1)	  	 	 [X]	 Generally same as Plan Year. The Limitation Year is the same as the Plan Year except where the Plan Year is a short
	  	  	  	  	 year in which event the Limitation Year is always a 12 month period, unless the short Plan Year (and short Limitation
	  	  	  	  	 Year) result from a Plan amendment.
	 	 	 	 
	 (2)	  	  	[   ]     	Different Limitation Year: ending:___________   .
	 	 	 	 
	 (3)	  	  	   [   ]	Short Limitation Year: commencing:_____________and ending:___________ .
	  
	 4.	  	 EFFECTIVE DATE (1.19). The Employer's adoption of the Plan is a (Choose one of (a), (b), or (c). Choose (d) if applicable):
	 	 	 
	 (a)	[   ]  	 New Plan. The Plan's Effective Date is:
	 	 	 
	 (b)	[X]  	 Restated Plan. The Plan's restated Effective Date is: January 1, 2009. The Plan's original Effective Date was: July 1,
	  	  	 1994 .    
	 
	 [Note: See Section 1.51 for the definition of Restated Plan. If this Plan is an EGTRRA restatement: (i) the EGTRRA restatement Effective Date
	 must be the later of the beginning of the 2002 Plan Year or the Plan's original Effective Date; and (ii) if specific Plan provisions, as reflected in
	 this Adoption Agreement, do not date back to the EGTRRA restatement Effective Date, indicate as such in Appendix A.]

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 Nonstandardized 401(k) Plan

						
	 (c) [   ]	   Restatement of surviving and merging plans. The Plan restates two (or more) plans (Complete (1) and (2). Choose (3) as applicable):
	  	  	  	  	  	  
	  	(1)  	 This (surviving) Plan. The Plan's restated Effective Date is:_____________________ . The Plan's original Effective Date was:
	  
	 [Note: If this Plan is an EGTRRA restatement: (i) the EGTRRA restatement Effective Date must be the later of the beginning of the 2002
	 Plan Year or the Plan's original Effective Date; and (ii) if specific Plan provisions, as reflected in this Adoption Agreement, do not date
	 back to the EGTRRA restatement Effective Date, indicate as such in Appendix A.]	  	  
	 	 	 	 
	  	(2)  	 Merging plan. The _____________________ Plan was or will be merged into this surviving Plan as of:___________ . The
	  	  	 merging plan's restated Effective Date is:  _____________________ . The merging plan's original Effective Date was:____________.
	  	  	 [See the Note under Election 4(c)(1) if this document is the merging plan's EGTRRA restatement.]	  
	 	 	 
	  	(3)   [   ]  	 Additional merging plans. The following additional plans were or will be merged into this surviving Plan (Complete a.
	  	  	 and b. as applicable):	  	  	  
	  	  	  	  	  	  
	  	  	 Name of merging plan	 Merger date

    	 Restated  

      Effective Date

    	 Original  

      Effective Date

    
	 	 	
      

    
	  	  	 a.  ______________________________	___________ 	___________ 	___________ 
	  	  	 b. ______________________________	___________ 	___________ 	___________ 

	 	 	 	 	 	 	 	 	 
	 (d) [   ] 	   Special Effective Date for Elective Deferral provisions: _____________________________________    
	  	  
	 5. 	  TRUSTEE (1.65). The Trustee executing this Adoption Agreement is (Choose one or more of (a), (b), or (c). Choose (d) if applicable): 
	  	  	  
	 (a) 	[   ]   	 A discretionary Trustee. See Section 8.02(A).       
	  	  	  
	 (b) 	[X]  	  A nondiscretionary (directed) Trustee or Custodian. See Section 8.02(B).   
	  	  	  
	 (c) 	[   ]   	 A Trustee under the:  ____________________________ (specify name of trust), a separate trust agreement the Trustee has executed  and that the IRS has approved for use with this Plan. Under this Election 5(c) the Trustee is not executing the Adoption Agreement   and Article VIII of the basic plan document does not apply, except as indicated otherwise in the separate trust agreement. See   Section 8.11(C).       
	  	  	  
	 (d) 	[   ]   	 Permitted Trust amendments apply. Under Section 8.11 the Employer in Appendix C has made certain permitted  amendments to the Trust. Such amendments do not constitute a separate trust under Election 5(c).   
	  
	 6. CONTRIBUTION TYPES (1.12). The Employer and/or Participants, in accordance with the Plan terms, make the following 
	 Contribution Types to the Plan/Trust (Choose one or more of (a) through (h) as applicable. Choose (i) if applicable):   
	  	  	  
	 (a) 	[X]   	 Pre-Tax Deferrals. See Section 3.02 and Elections 20-23.     
	  	  	  
	 (b) 	[   ]   	 Roth Deferrals. See Section 3.02(E) and Elections 20, 21, and 23. [Note: The Employer may not limit Elective Deferrals to  Roth Deferrals only.]       
	  	  	  
	 (c) 	[X]   	 Matching. See Sections 1.34 and 3.03 and Elections 24-26. [Note: The Employer may make an Operational QMAC without  electing 6(c). See Section 3.03(C)(2).]       
	  	  	  
	 (d) 	[   ]   	 Nonelective. See Sections 1.37 and 3.04 and Elections 27-29. [Note: The Employer may make an Operational QNEC without  electing 6(d). See Section 3.04(C)(2).]       
	  	  	  
	 (e) 	[   ]   	 Safe Harbor/Additional Matching. The Plan is (or pursuant to a delayed election, may be) a safe harbor 401(k) Plan. The  Employer will make (or under a delayed election, may make) Safe Harbor Contributions as it elects in Election 30. The Employer  may or may not make Additional Matching Contributions as it elects in Election 30. See Election 26 as to matching Catch-Up  Deferrals. See Section 3.05.       
	  	  	  
	 (f) 	[   ]   	 Employee (after-tax). See Section 3.09 and Election 35.     
	  	  	  
	 (g) 	[   ]   	 SIMPLE 401(k). The Plan is a SIMPLE 401(k) Plan. See Section 3.10. The Employer operationally will elect for each Plan  Year to make a SIMPLE Matching Contribution or a SIMPLE Nonelective Contribution as described in Section 3.10(E). The  Employer must notify Participants of the Employer's SIMPLE contribution election and of the Participants' deferral election  rights and limitations within a reasonable period of time before the 60th day prior to the beginning of the Plan Year. [Note: The  Employer electing 6(g) may not elect any other Contribution Types except under Elections 6(a), 6(b), and 6(h).] 
	  	  	  
	 (h) 	[   ]   	 Designated IRA. See Section 3.12 and Election 36.     
	  	  	  
	 (i) 	[   ]   	 None (frozen plan). The Plan is/was frozen effective as of:  _________________________. See Sections 3.01(J) and 11.04. 
	  
	 [Note: Elections 20 through 30 and Elections 35 through 37 do not apply to any Plan Year in which the Plan is frozen.]   

© 2008 Wells Fargo Bank, N.A.

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	 7.	  	 DISABILITY (1.15). Disability means (Choose one of (a) or (b)):                
	 	 	 
	 (a)	[   ]  	 Basic Plan. Disability as defined in Section 1.15(A).                
	 	 	 
	 (b)	[X]  	 Describe: as defined in the long-term disability plan for employees of Premiere Global Services, Inc.      
	 
	 [Note: The Employer may elect an alternative definition of Disability for purposes of Plan distributions. However, the use of an alternative
	 definition may result in loss of favorable tax treatment of the Disability distribution.]              
	  
	 8. EXCLUDED EMPLOYEES (1.21(D)). The following Employees are not Eligible Employees but are Excluded Employees  
	 (Choose one of (a) or (b)):                  
	 
	 [Note: Regardless of the Employer's elections under Election 8: (i) Employees of any Related Employers (excluding the Signatory  
	 Employer) are Excluded Employees unless the Related Employer becomes a Participating Employer; and (ii) Reclassified Employees and
	 Leased Employees are Excluded Employees unless the Employer in Appendix B elects otherwise. See Sections 1.21(B), 1.21(D)(3) and
	 1.23(D).]                      
	  
	 (a)	[   ]  	 No Excluded Employees. All Employees are Eligible Employees as to all Contribution Types.        
	 	 	 
	 (b)	[X]  	 Exclusions. The following Employees are Excluded Employees (either as to all Contribution Types or to the designated  
	  	  	 Contribution Type) (Choose one or more of (1) through (7) as applicable):            
	 
	 [Note: For this Election 8, unless described otherwise in Election 8(b)(7), Elective Deferrals includes Pre-Tax Deferrals, Roth Deferrals,  
	 Employee Contributions and Safe Harbor Contributions. Matching includes all Matching Contributions except Safe Harbor Matching  
	 Contributions. Nonelective includes all Nonelective Contributions except Safe Harbor Nonelective Contributions.]      

								
	  	  	  	 (1) 

      All 

      Contributions
      	  	 (2) 

      Elective 

      Deferrals
      	 (3) 

      Matching
      	 (4) 

      Nonelective
      
	 (1)	 [   ]	 No exclusions. No exclusions as to the	 N/A	  	 [   ]	 [   ]	 [   ]
	  	  	 designated Contribution Type.	 (See Election	  	  	  	  
	  	  	  	 8(a))	  	  	  	  
	 (2)	 [X]	 Collective Bargaining (union) Employees.	 [X]	 OR	 [   ]	 [   ]	 [   ]
	  	  	 As described in Code §410(b)(3)(A).	  	  	  	  	  
	  	  	 See Section 1.21(D)(1).	  	  	  	  	  
	 	 	 	 	 	 	 	 
	 (3)	 [X]	 Non-Resident Aliens. As described in Code	 [X]	 OR	 [   ]	 [   ]	 [   ]
	  	  	 §410(b)(3)(C). See Section 1.21(D)(2).	  	  	  	  	  
	 	 	 	 	 	 	 	 
	 (4)	 [   ]	 HCEs. See Section 1.21(E). See Election 30(e)	 [   ]	 OR	 [   ]	 [   ]	 [   ]
	  	  	 as to exclusion of some or all HCEs	  	  	  	  	  
	  	  	 from Safe Harbor Contributions.	  	  	  	  	  
	  
	 (5)	 [   ]	 Hourly paid Employees.	 [   ]	 OR	 [   ]	 [	 [   ]
	 (6)	 [   ]	 Part-Time/Temporary/Seasonal Employees.	 [   ]	 OR	 [   ]	 [	 [   ]
	  	  	 See Section 1.21(D)(4). A Part-Time, Temporary	  	  	  	  
	  	  	 or Seasonal Employee is an Employee	  	  	  	  	  
	  	  	 whose regularly scheduled Service is less than	  	  	  	  	  
	  	  	 (specify a maximum of 1,000)	  	  	  	  	  
	  	  	 Hours of Service in the relevant Eligibility	  	  	  	  	  
	  	  	 Computation Period.	  	  	  	  	  

																									
	 [Note: If the Employer under Election 8(b)(6) elects to treat Part-Time, Temporary and Seasonal Employees as Excluded Employees and
	 any such an Employee actually completes at least 1,000 Hours of Service during the relevant Eligibility Computation Period, the Employee
	 becomes an Eligible Employee. See Section 1.21(D)(4).]	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 
	  	  	 (7) [X] 	  	 Describe exclusion category and/or Contribution Type:  the Plan excludes independent contractors (e.g., Exclude Division B Employees OR Exclude salaried Employees from Discretionary Matching Contributions.)

[Note: Any exclusion under Election 8(b)(7), except as to Part-Time/Temporary/Seasonal Employees, may not be based on age or Service or level of Compensation. See Election 14 for eligibility conditions based on age or Service.]

 Nonstandardized 401(k)

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 Nonstandardized 401(k)

								
	 9. COMPENSATION (1.11(B)). The following base Compensation (as adjusted under Elections 10 and 11) applies in allocating
	 Employer Contributions (or the designated Contribution Type) (Choose one or more of (a) through (d) as applicable):	  
	 
	 [Note: For this Election 9 all definitions include Elective Deferrals unless excluded under Election 11. See Section 1.11(D). Unless
	 described otherwise in Election 9(d), Elective Deferrals includes Pre-Tax Deferrals, Roth Deferrals and Employee Contributions,
	 Matching includes all Matching Contributions and Nonelective includes all Nonelective Contributions. In applying any Plan definition
	 which references Section 1.11 Compensation, where the Employer in this Election 9 elects more than one Compensation definition for
	 allocation purposes, the Plan Administrator will use W-2 Wages for such other Plan definitions if the Employer has elected W-2 Wages for
	 any Contribution Type or Participant group under Election 9. If the Employer has not elected W-2 Wages, the Plan Administrator for such
	 other Plan definitions will use 415 Compensation.]	  	  	  	  	  
	  
	  	  	  	 (1)	  	 (2)	 (3)	 (4)
	  	  	  	 All	  	 Elective	  	  
	  	  	  	 Contributions	  	 Deferrals	 Matching	 Nonelective
	 (a)	 [X]	 W-2 Wages (plus Elective Deferrals).	 [X]	 OR	 [   ]	 [   ]	 [   ]
	  	  	 See Section 1.11(B)(1).	  	  	  	  	  
	 	 	 	 	 	 	 	 
	 (b)	 [   ]	 Code §3401 Federal Income Tax	 [   ]	 OR	 [   ]	 [   ]	 [   ]
	  	  	 Withholding Wages (plus Elective	  	  	  	  	  
	  	  	 Deferrals). See Section 1.11(B)(2).	  	  	  	  	  
	 	 	 	 	 	 	 	 
	 (c)	 [   ]	 415 Compensation (simplified).	 [   ]	 OR	 [   ]	 [   ]	 [   ]
	  	  	 See Section 1.11(B)(3).	  	  	  	  	  
	  	  	 [Note: The Employer may elect an alternative	  	  	  	  	  
	  	  	 "general 415 Compensation" definition by	  	  	  	  	  
	  	  	 electing 9(c) and by electing the alternative	  	  	  	  	  
	  	  	 definition in Appendix B. See Section 1.11(B)(4).]	  	  	  	  	  

													
	 (d)	 [   ] Describe Compensation by Contribution Type or by Participant group:  ___________________________________     
	 
	 [Note: Under Election 9(d), the Employer may: (i) elect Compensation from the elections available under Elections 9(a), (b), or (c), or a
	 combination thereof as to a Participant group (e.g., W-2 Wages for Matching Contributions for Division A Employees and 415
	 Compensation in all other cases); and/or (ii) define the Contribution Type column headings in a manner which differs from the
	 "all-inclusive" description in the Note immediately preceding Election 9(a) (e.g., Compensation for Safe Harbor Matching Contributions
	 means W-2 Wages and for Additional Matching Contributions means 415 Compensation).]	  	  	  	  	  	  
	  
	 10. PRE-ENTRY/POST-SEVERANCE COMPENSATION (1.11(H)/(I)). Compensation under Election 9 (Complete (a). Choose (b). if
	 applicable):	  	  	  	  	  	  	  	  	  	  
	  
	 [Note: The Plan does not take into account Post-Severance Compensation unless the Employer elects otherwise in Appendix B or except as
	 otherwise specified in a Plan amendment. For this Election 10, unless described otherwise in Election 10(b), Elective Deferrals includes
	 Pre-Tax Deferrals, Roth Deferrals and Employee Contributions, Matching includes all Matching Contributions and Nonelective
	 includes all Nonelective Contributions.]	  	  	  	  	  	  	  	  	  	  
	  
	  	  	  	  	 (1)	  	  	  	 (2)	  	 (3)	  	 (4)
	  	  	  	  	 All	  	  	  	 Elective	  	  	  	  
	  	  	  	  	 Contributions	  	  	  	 Deferrals	  	 Matching	  	 Nonelective
	 (a) [X] Pre-Entry Compensation. Includes (Choose	  	  	  	  	  	  	  	  	  	  
	  	  	 (1) and (2) as applicable):	  	  	  	  	  	  	  	  	  	  
	  
	  	 (1)	 [   ] Plan Year. Compensation for the entire	  	 [   ]	  	 OR	  	 [   ]	  	 [   ]	  	 [   ]
	  	  	 Plan Year which includes the Participant's	  	  	  	  	  	  	  	  	  	  
	  	  	 Entry Date.	  	  	  	  	  	  	  	  	  	  
	  
	  	 (2)	 [X] Participating Compensation. Only Participating [X]	  	 OR	  	 [   ]	  	 [   ]	  	 [   ]
	  	  	 Compensation. See Section 1.11(H)(1).	  	  	  	  	  	  	  	  	  	  
	  
	 [Note: Under a Participating Compensation election, in applying any Adoption Agreement elected contribution limit or formula, the Plan
	 Administrator will count only the Participant's Participating Compensation. See Section 1.11(H)(1) as to plan disaggregation.]
	  
	 (b) [   ] Describe Pre-Entry Compensation by Contribution Type or by Participant group: ___________________________________    
	  
	 [Note: Under Election 10(b), the Employer may: (i) elect Compensation from the elections available under Election 10(a) or a combination
	 thereof as to a Participant group (e.g., Participating Compensation for all Contribution Types as to Division A Employees, Plan Year
	 Compensation for all Contribution Types to Division B Employees); and/or (ii) define the Contribution Type column headings in a manner
	 which differs from the "all-inclusive" description in the Note immediately preceding Election 10(a) (e.g., Compensation for Nonelective
	 Contributions is Participating Compensation and for Safe Harbor Nonelective Contributions is Plan Year Compensation).]  

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 Nonstandardized 401(k)

													
	 11. EXCLUDED COMPENSATION (1.11(G)). Apply the following Compensation exclusions to Elections 9 and 10 (Choose one of
	 (a) or (b)):                  
	  
	 (a)	  	 [   ] No exclusions. Compensation as to all Contribution Types means Compensation as elected in Elections 9 and 10.
	  
	 (b)	  	 [X] Exclusions. Exclude the following (Choose one or more of (1) through (9) as applicable):	  	  
	  
	 [Note: In a safe harbor 401(k) plan, allocations qualifying for the ADP or ACP test safe harbors must be based on a non-discriminatory
	 definition of Compensation. If the Plan applies permitted disparity, allocations also must be based on a non-discriminatory definition of
	 Compensation if the Plan is to avoid more complex testing. Elections 11(b)(4) through (b)(9) may cause allocation Compensation to fail
	 to be non-discriminatory. In a non-safe harbor 401(k) plan, Elections 11(b)(4) through (b)(9) which result in Compensation failing to
	 be non-discriminatory may result in more complex nondiscrimination testing. For this Election 11, unless described otherwise in
	 Election 11(b)(9), Elective Deferrals includes Pre-Tax Deferrals, Roth Deferrals and Employee Contributions, Matching includes all
	 Matching Contributions and Nonelective includes all Nonelective Contributions.]	  	  	  	  
	  
	  	  	  	  	  	  	  	  	 (1)	  	 (2)	 (3)	 (4)
	  	  	  	  	  	  	  	  	 All	  	 Elective	  	  
	  	  	  	  	  	  	  	  	Contributions	  	 Deferrals	 Matching	 Nonelective
	  
	  	  	 (1)	  	 [   ]  No exclusions-limited. No	  	 N/A	  	 [   ]	 [   ]	 [   ]
	  	  	  	  	         exclusions as to the designated	  	 (See	  	  	  	  
	  	  	  	  	         Contribution Type(s).	  	Election 11(a))	  	  	  	  
	  
	  	  	 (2)	  	 [   ] Elective Deferrals. See Section 1.20.	 N/A	  	 N/A	 [   ]	 [   ]
	  
	  	  	 (3)	  	 [X] Fringe benefits. As described in Treas.	 [X]	 OR	 [   ]	 [   ]	 [   ]
	  	  	  	  	         Reg. §1.414(s)-1(c)(3).	  	  	  	  	  	  
	  
	  	  	 (4)	  	 [   ] Compensation exceeding $_______.	 [X]	 OR	 [   ]	 [   ]	 [   ]
	 	 	 	 	 	 	 	 	 	 	 
	  	  	  	  	  	 Apply this election to (Choose one of a. or b.):	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	  	  	 a.	 [   ]	 All Participants. [Note: If the Employer	  	  	  	  	  
	  	  	  	  	  	  	 elects Safe Harbor Contributions under	  	  	  	  	  
	  	  	  	  	  	  	 Election 6(e), the Employer may not	  	  	  	  	  
	  	  	  	  	  	  	 elect 11(b)(4)a. to limit the Safe Harbor	  	  	  	  	  
	  	  	  	  	  	  	 Contribution allocation to the NHCEs.]	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	  	  	 b.	 [   ]	 HCE Participants only.	  	  	  	  	  	  
	  
	  	  	 (5)	  	 [   ]	 Bonus.	  	 [   ]	 OR	 [   ]	 [   ]	 [   ]
	  
	  	  	 (6)	  	 [   ]	 Commission.	  	 [   ]	 OR	 [   ]	 [   ]	 [   ]
	  
	  	  	 (7)	  	 [   ]	 Overtime.	  	 [   ]	 OR	 [   ]	 [   ]	 [   ]
	 	 	 	 	 	 	 	 	 	 	 
	  	  	 (8)	  	 [   ]	 Related Employers. See Section 1.23(C).	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 
	  	  	  	  	  	 (If there are Related Employers, choose one or	  	  	  	  	  
	  	  	  	  	  	 both of a. and b. as applicable):	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	  	  	 a.	 [   ]	 Non-Participating. Compensation paid to	 [   ]	 OR	 [   ]	 [   ]	 [   ]
	  	  	  	  	  	  	 Employees by a Related Employer that is	  	  	  	  	  
	  	  	  	  	  	  	 not a Participating Employer.	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	  	  	 b.	 [   ]	 Participating. As to the Employees of any	 [   ]	 OR	 [   ]	 [   ]	 [   ]
	  	  	  	  	  	  	 Participating Employer, Compensation paid	  	  	  	  	  
	  	  	  	  	  	  	 by any other Participating Employer to its	  	  	  	  	  
	  	  	  	  	  	  	 Employees. See Election 28(g)(2)a.	  	  	  	  	  
	  
	  	  	 (9) I I Describe Compensation exclusion(s):  ___________________________________________________    
	 
	 [Note: Under Election 11(b)(9), the Employer may: (i) describe Compensation from the elections available under Elections 11(b)(1) through
	 (8), or a combination thereof as to a Participant group (e.g., No exclusions as to Division A Employees and exclude bonus as to Division B
	 Employees); (ii) define the Contribution Type column headings in a manner which differs from the "all-inclusive" description in the Note
	 immediately preceding Election 11(b)(1) (e.g., Elective Deferrals means §125 cafeteria deferrals only OR No exclusions as to Safe Harbor
	 Contributions and exclude bonus as to Nonelective Contributions); and/or (iii) describe another exclusion (e.g., Exclude shift differential pay).]

5

 Nonstandardized 401(k) Plan

																		
	 12. HOURS OF SERVICE (1.31). The Plan credits Hours of Service for the following purposes (and to the Employees described in
	 Elections 12(d) or (e)) as follows (Choose one or more of (a) through (e) as applicable):	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	  	  	  	  	  	  	  	 (1)	  	  	  	 (2)	  	 (3)	  	 (4)
	  	  	  	  	  	  	  	  	  	 All	  	  	  	  	  	  	  	 Allocation
	  	  	  	  	  	  	  	  	  	 Purposes	  	  	  	 Eligibility	  	 Vesting	  	 Conditions
	 (a)	  	 [X]	 Actual Method. See Section 1.31(A)(1).	  	 [XI	  	 OR	  	 [   ]	  	 [   ]	  	 [   ]
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (b)	  	 [   ]	 Equivalency Method:	  	 (e.g., daily,	  	 [   ]	  	 OR	  	 [   ]	  	 [   ]	  	 [   ]
	  	  	  	 weekly, etc.). See Section 1.31(A)(2).	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (c)	  	 [   ]	 Elapsed Time Method. See Section 1.31(A)(3).	  	 [   ]	  	 OR	  	 [   ]	  	 [   ]	  	 [   ]
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (d)	  	 [   ]	 Actual (hourly) and Equivalency (salaried).	  	 [   ]	  	 OR	  	 [   ]	  	 [   ]	  	 [   ]
	  	  	  	 Actual Method for hourly paid Employees          
	  	  	  	 and Equivalency Method:            
	 	 	 	 
	  	  	  	 (e.g., daily, weekly, etc.) for salaried Employees.          
	 (e)	  	 [   ]	 Describe method:  _________________           
	 
	 [Note: Under Election 12(e), the Employer may describe Hours of Service from the elections available under Elections 12(a) through (d),
	 or a combination thereof as to a Participant group and/or Contribution Type (e.g., For all purposes, Actual Method applies to office
	 workers and Equivalency Method applies to truck drivers).]	  	  	  	  	  	  	  	  	  	  
	 
	 13. ELECTIVE SERVICE CREDITING (1.56(C)). The Plan must credit Related Employer Service under Section 1.23(C) and also must
	 credit certain Predecessor Employer/Predecessor Plan Service under Section 1.56(B). The Plan also elects under Section 1.56(C) to credit
	 as Service the following Predecessor Employer service (Choose one of (a) or (b)):	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 
	 (a)	[   ]  	 Not applicable. No elective Predecessor Employer Service crediting applies.      
	 	 	 
	 (b)	[X] 	 Applies. The Plan credits the specified service with the following designated Predecessor Employers as Service for the
	  	  	  Employer for the purposes indicated (Choose (1) and (2) as applicable. Complete (3). Choose (4) if applicable):
	 	 	 	 	 	 	 
	 [Note: Any elective Service crediting under this Election 13 must be nondiscriminatory.]      
	 	 	 
	  	  	 (1) [X] All purposes. Credit Service for all purposes with Predecessor Employer(s): Accucast, Inc. (effective January 26, 2006);
	  	  	  	   Soundpath Conferencing Services (effective August 12, 2008); Link Conference Service (effective February 10, 2009).
	  	  	  	   (insert as many names as needed).          
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 (3)
	  	  	 (2) [   ] 	 Designated purposes. Credit Service with	  	  	  	 (1)	  	 (2)	  	  	 	Contribution
	  	  	  	  	  the following Predecessor Employer(s) for	  	  	  	 Eligibility	  	 Vesting	  	  	  	 Allocation
	  	  	  	  	  the designated purpose(s):    	  	  	  	  	  	  	  	  
	  
	  	  	  	 a.	  	 Employer: _______________	  	  	  	  	  	 [   ]	  	 [   ]	  	  	  	 [   ]
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	  	 b.	  	 Employer: _______________	  	  	  	  	  	 [   ]	  	 [   ]	  	  	  	 [   ]
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	  	 c.	  	 Employer: _______________	  	  	  	  	  	 [   ]	  	 [   ]	  	  	  	 [   ]
	 	 	 
	  	  	 (3) Time period. Under Elections 13(b)(1) or (2), the Plan credits (Choose one or more of a., b., and c. as applicable):
	 	 	 	 	 	 
	  	  	  	 a.	[X] 	 All. All Service under Election(s) 13(b) 1, regardless of when rendered.    
	 	 	 	 	 	 
	  	  	  	 b.	[   ] 	 Service after. All Service under Election(s) 13(b) _____  , which is or was rendered after: ___________________________ 
	  	  	  	  	  	 (specify date).            
	 	 	 	 	 	 
	  	  	  	 c.	[   ] 	 Service before. All Service under Election(s) 13(b) _____, which is or was rendered before:  ___________________________ 
	  	  	  	  	  	 (specify date).            
	 	 	 
	  	  	 (4) [   ] Describe elective Predecessor Employer Service crediting:        .
	 
	 [Note: Under Election 13(b)(4), the Employer may describe service crediting from the elections available under Elections 13(b)(1) through
	 (3), or a combination thereof as to a Participant group and/or Contribution Type (e.g., For all purposes credit service with X only on/after
	 1/1/05 OR Credit all service for all purposes with entities the Employer acquires after 12/31/04 OR Service crediting for X Company applies
	 only for purposes of Nonelective Contributions and not for Matching Contributions).]      

 © 2008 Wells Fargo Bank, N.A.

6

 Nonstandardized 401(k) Plan

 ARTICLE II

ELIGIBILITY REQUIREMENTS

												
	 14. ELIGIBILITY (2.01). To become a Participant in the Plan, an Eligible Employee must satisfy (Choose one of (a) or (b)):	  
	  
	 [Note: If the Employer under a safe harbor plan elects "early" eligibility for Elective Deferrals (e.g., less than one Year of Service and age
	 21), but does not elect early eligibility for any Safe Harbor Contributions, also see Election 30(f).]   
	  
	(a)  	[   ]  	 No conditions. No eligibility conditions as to all Contribution Types. Entry is on the Employment Commencement Date (if that date is also an Entry Date), or if later, upon the next following Plan Entry Date.      
	  
	 [Note: No eligibility conditions apply to Prevailing Wage Contributions unless the Prevailing Wage Contract provides otherwise. See
	 Section 2.01(D).]                  
	  
	   
	(b) 	[X] 	 Conditions. The following eligibility conditions (either as to all Contribution Types or as to the designated Contribution Type)

      (Choose one or more of (1) through (8) as applicable):          
	  
	 [Note: For this Election 14, unless described otherwise in Election 14(b)(8)), or the context otherwise requires, Elective Deferrals includes
	 Pre-Tax Deferrals, Roth Elective Deferrals and Employee Contributions, Matching includes all Matching Contributions (except Safe
	 Harbor Matching Contributions under Section 3.05(E)(3) and Operational QMACs under Section 3.03(C)(2)) and Nonelective includes all
	 Nonelective Contributions (except Safe Harbor Nonelective Contributions under Section 3.05(E)(2) and Operational QNECs under Section
	 3.04(C)(2)). Safe Harbor includes Safe Harbor Nonelective and Safe Harbor Matching Contributions. If the Employer elects more than one
	 Year of Service as to Additional Matching, the Plan will not satisfy the ACP test safe harbor. See Section 3.05(F)(3).]	  
	  
	  	  	  	  	  	  	 (1)	  	 (2)	 (3)	 (4)	 (5)
	  	  	  	  	  	  	 All	  	 Elective	  	  	 Safe
	  	  	  	  	  	  	Contributions	 	Deferrals	Matching	 Nonelective 	Harbor
	  
	 (1)	[   ] 	  None. Entry on the Employment	 N/A	  	 [   ]	 [   ]	 [   ]	 [   ]
	  	  	  Commencement Date (if that date	 (See Election	 	  	  	  	  
	  	  	  is also an Entry Date) or if later, upon	 14(a))	  	  	  	  	  
	  	  	  the next following Plan Entry Date.	  	  	  	  	  	  
	  
	 (2)	[   ]  	 Age ____    (not to exceed age 21).	 [   ]	 OR	 [   ]	 [   ]	 [   ]	 [   ]
	  
	 (3)	[   ]  	 One Year of Service. See Election 16(a).	 [   ]	 OR	 [   ]	 [   ]	 [   ]	 [   ]
	  
	 (4)	[   ]  	 Two Years of Service (without an intervening	 N/A	  	 N/A	 [   ]	 [   ]	 N/A
	  	  	  Break in Service). 100% vesting is required.	  	  	  	  	  	  
	  	  	  [Note: Two Years of Service does not apply to	  	  	  	  	  	  
	  	  	  Elective Deferrals, Safe Harbor Contributions	  	  	  	  	  	  
	  	  	  or SIMPLE Contributions.]	  	  	  	  	  	  
	  
	 (5)	[   ]  	 month(s) (not exceeding 12 months	 [   ]	 OR	 [   ]	 [   ]	 [   ]	 [   ]
	  	  	  for Elective Deferrals, Safe Harbor Contributions	  	  	  	  	  
	  	  	  and SIMPLE Contributions and not exceeding 24	  	  	  	  	  
	  	  	  months for other contributions). If more than 12	  	  	  	  	  
	  	  	  months, 100% vesting is required. Service need	  	  	  	  	  
	  	  	  not be continuous (no minimum Hours of Service	  	  	  	  	  
	  	  	  required, and is mere passage of time).	  	  	  	  	  	  
	  
	 (6)	[   ]  	 month(s) with at least______________ Hours	 [   ]	 OR	 [   ]	 [   ]	 [   ]	 [   ]
	  	  	   of Service in each month (not exceeding 12	  	  	  	  	  	  
	  	  	   months for Elective Deferrals, Safe Harbor	  	  	  	  	  	  
	  	  	   Contributions and SIMPLE Contributions and	  	  	  	  	  	  
	  	  	   not exceeding 24 months for other contributions).	  	  	  	  	  
	  	  	   If more than 12 months, 100% vesting is required.	  	  	  	  	  
	  	  	   If the Employee does not complete the designated	  	  	  	  	  
	  	  	   Hours of Service each month during the specified	  	  	  	  	  
	  	  	   monthly time period, the Employee is subject to	  	  	  	  	  	  
	  	  	   the one Year of Service (or two Years of Service	  	  	  	  	  
	  	  	   if elect more than 12 months) requirement with	  	  	  	  	  	  
	  	  	   1,000 Hours of Service per Year of Service. The	  	  	  	  	  	  
	  	  	   months during which the Employee completes the	  	  	  	  	  
	  	  	   specified Hours of Service (Choose one of a. or b.):	  	  	  	  	  
	  
	  	a. 	[   ]       Consecutive. Must be consecutive.	  	  	  	  	  	  
	  
	  	b. 	[   ]       Not consecutive. Need not be consecutive.          

7

 Nonstandardized 401(k) Plan

										
	  	  	 (7) [   ]	 ____ Hours of Service within the __________  [   ]  	OR	[   ]	[   ]	[   ]	[   ]
	  	  	  	 time period following the Employee's Employment	  	  	  	  	  
	  	  	  	 Commencement Date (not exceeding 12 months for	  	  	  	  	  
	  	  	  	 Elective Deferrals, Safe Harbor Contributions and	  	  	  	  	  
	  	  	  	 SIMPLE Contributions and not exceeding 24 months	  	  	  	  	  
	  	  	  	 for other contributions). If more than 12 months,	  	  	  	  	  
	  	  	  	 100% vesting is required. If the Employee does not	  	  	  	  	  
	  	  	  	 complete the designated Hours of Service during the	  	  	  	  	  
	  	  	  	 specified time period (if any), the Employee is	  	  	  	  	  
	  	  	  	 subject to the one Year of Service (or two Years of	  	  	  	  	  
	  	  	  	 Service if elect more than 12 months) requirement	  	  	  	  	  
	  	  	  	 with 1,000 Hours of Service per Year of Service.	  	  	  	  	  
	  
	 [Note: The Employer may complete the second blank in Election 14(b)(7) with "N/A" if the Employer wishes to impose an Hour of Service
	 requirement without specifying a time period within which an Employee must complete the required Hours of Service.]	  
	  
	  	  	 (8)	 [X] Describe eligibility conditions: Thirty days of service        
	  
	 [Note: The Employer may use Election 14(b)(8) to describe different eligibility conditions as to different Contribution Types or Employee
	 groups (e.g., As to all Contribution Types, no eligibility requirements for Division A Employees and one Year of Service as to Division B
	 Employees). The Employer also may elect different ages for different Contribution Types and/or to specify different months or Hours of
	 Service requirements under Elections 14(b)(5), (b)(6), or (b)(7) as to different Contribution Types. Any election must satisfy Code
	 §410(a).]              
	  
	 15. SPECIAL ELIGIBILITY EFFECTIVE DATE (DUAL ELIGIBILITY) (2.01(E)). The eligibility conditions of Election 14 (Choose
	 (a) or choose (b) and (c) as applicable):	  	  	  	  	  	  
	  
	 (a)	[X]  	 No exceptions. Apply to all Employees. [Note: Elections 15(b) or	  	  	  
	 	 	 	 	 	 	 
	 (c) may trigger a coverage failure under Code §410(b).]	  	  	  	  	  	  
	  
	 (b)	[   ]  	 Waiver of eligibility conditions for certain Employees. For all Contribution Types, apply solely to an Eligible Employee	  
	  	  	  	  	  	  	  	  	  
	  	  	         __________________________________  employed or reemployed by the Employer after
	 	 	 
	  	  	         __________________________________ (specify date). If the Eligible Employee was employed or
	  	  	  	  	  	  	  	  	  
	  	  	 reemployed by the Employer by the specified date, the Employee will become a Participant on the latest of: (i) the Effective
	  	  	 Date; (ii) the restated Effective Date; (iii) the Employee's Employment Commencement Date or Re-Employment
	  	  	 Commencement Date; or (iv) on the date the Employee attains age	  	 (not exceeding age 21).	  	  
	  
	 [Note: If the Employer does not wish to impose an age condition under clause (iv) as part of the requirements for the eligibility conditions
	 waiver, leave the age blank.]	  	  	  	  	  	  
	  
	 (c)	  	 [   ] Describe special eligibility Effective Date(s):  ___________________________________         
	  
	 [Note: Under Election 15(c), the Employer may describe special eligibility Effective Dates as to a Participant group and/or Contribution
	 Type (e.g., Eligibility conditions apply only as to Nonelective Contributions and solely as to the Eligible Employees of Division B who were
	 hired or reemployed by the Employer after January 1, 2007).]          
	  
	 16. YEAR OF SERVICE - ELIGIBILITY (2.02(A)). (Choose (a), (b), and (c) as applicable):      
	  
	 [Note: If the Employer under Election 14 elects a one or two Year(s) of Service condition (including any requirement which defaults
	 to such conditions under Elections 14(b)(6), (7), and (8)) or elects to apply a Year of Service for eligibility under any other Adoption
	 Agreement election, the Employer should complete Election 16. The Employer should not complete Election 16 if it elects the Elapsed Time
	 Method for eligibility.]          
	  
	 (a)	  	 [   ] Year of Service. An Employee must complete ___    Hour(s) of Service during the relevant Eligibility Computation Period to
	  	  	 receive credit for one Year of Service under Article II. [Note: The number may not exceed 1,000. If left blank, the
	  	  	 requirement is 1,000 Hours of Service. Under Elections 14(b)(6) and (b)(7) and under Election 14(b)(8) if it incorporates
	  	  	 Elections 14(b)(6) or (7), the number is 1,000 and the Employer should not supply any other number in the blank.]
	 	 	 	 
	 (1)	  	 [   ]	 Plan Year. The Plan Year, beginning with the Plan Year which includes the first anniversary of the Employee's
	  	  	  	 Employment Commencement Date.          
	 	 	 	 
	 (2)	  	 [   ]	 Anniversary Year. The Anniversary Year, beginning with the Employee's second Anniversary Year.  
	 	 	 	 
	 (3)	  	 [   ]	 Split. The Plan Year as described in Election 16(b)(1) as to: __________________    (describe Contribution Type(s)) and
	  	  	  	 the Anniversary Year as described in Election 16(b)(2) as to: _________________(describe Contribution Type(s)).
	  
	 [Note: To maximize delayed entry under a two Years of Service condition for Nonelective Contributions or Matching Contributions, the
	 Employer should elect to remain on the Anniversary Year for such contributions.]        

 © 2008 Wells Fargo Bank, N.A.

8

 Nonstandardized 401(k) Plan

								
	 (c) I I Describe: ________________________________          (e.g., Anniversary Year as to
	 	 
	  	    Division A and Plan Year as to Division B.)          
	  
	 17. ENTRY DATE (2.02(D)). Entry Date means the Effective Date and (Choose one or more of (a) through (f) as applicable):
	 [Note: For this Election 17, unless described otherwise in Election 17(f), Elective Deferrals includes Pre-Tax Deferrals, Roth Elective
	 Deferrals and Employee Contributions, Matching includes all Matching Contributions (except Operational QMACs under Section
	 3.03(C)(2)) and Nonelective includes all Nonelective Contributions (except Operational QNECs under Section 3.04(C)(2)). Entry as to
	 Prevailing Wage Contributions is on the Employment Commencement Date unless the Prevailing Wage Contract provides otherwise. See
	 Section 2.02(D).]	  	  	  	  	  
	  
	  	  	  	 (1)	  	 (2)	 (3)	 (4)
	  	  	  	 All	  	 Elective	  	  
	  	  	  	Contributions	 	 Deferrals	 Matching	 Nonelective
	 (a)	[   ] 	 Semi-annual. The first day of the first month	 [   ]	 OR	 [   ]	 [   ]	 [   ]
	  	  	 and of the seventh month of the Plan Year.	  	  	  	  	  
	  
	 (b)	[   ] 	 First day of Plan Year	 [   ]	 OR	 [   ]	 [   ]	 [   ]
	  
	 (c)	[   ] 	 First day of each Plan Year quarter	 [   ]	 OR	 [   ]	 [   ]	 [   ]
	  
	 (d)	[X] 	 The first day of each month	 [X]	 OR	 [   ]	 [   ]	 [   ]
	 	 	 	 	 	 	 	 
	 (e)	[   ] 	 Immediate. Upon Employment Commencement Date	 [   ]	 OR	 [   ]	 [   ]	 [   ]
	  	  	 or if later, upon satisfaction of eligibility conditions.	  	  	  	  	  
	  
	 (f)	[   ] 	 Describe Entry Date(s): _______________	  	  	  	  	  
	  
	 [Note: Under Election 17(f), the Employer may describe Entry Dates from the elections available under Elections 17(a) through (e), or a
	 combination thereof as to a Participant group and/or Contribution Type or may elect additional Entry Dates (e.g., As to Matching
	 Contributions excluding Additional Matching, immediate as to Division A Employees and semi-annual as to Division B Employees OR the
	 earlier of the Plan's semi-annual Entry Dates or the entry dates under the Employer's medical plan).]	  	  
	  
	 18. PROSPECTIVE/RETROACTIVE ENTRY DATE (2.02(D)). An Employee after satisfying the eligibility conditions in Election
	 
	 14 will become a Participant (unless an Excluded Employee under Election 8) on the Entry Date (if employed on that date) (Choose one
	 or more of (a) through (f) as applicable):	  	  	  	  	  
	  
	 [Note: Unless otherwise excluded under Election 8, an Employee who remains employed by the Employer on the relevant date must
	 become a Participant by the earlier of: (i) the first day of the Plan Year beginning after the date the Employee completes the age and
	 service requirements of Code §410(a); or (ii) 6 months after the date the Employee completes those requirements. For this Election 18,
	 unless described otherwise in Election 18(f), Elective Deferrals includes Pre-Tax Deferrals, Roth Deferrals and Employee Contributions,
	 Matching includes all Matching Contributions (except Operational QMACs under Section 3.03(C)(2)) and Nonelective includes all
	 Nonelective Contributions, (except Operational QNECs under Section 3.04(C)(2)).]	  	  	  
	  
	  	  	  	 (1)	  	 (2)	 (3)	 (4)
	  	  	  	 All	  	 Elective	  	  
	  	  	 Contributions	  	 Deferrals	 Matching	 Nonelective
	  
	 (a)	[X]  	 Immediately following or coincident with the date	 [X]	 OR	 [   ]	 [   ]	 [   ]
	  	  	  the Employee completes the eligibility conditions.	  	  	  	  	  
	  
	 (b)	[   ]  	 Immediately following the date the Employee	 [   ]	 OR	 [   ]	 [   ]	 [   ]
	  	  	  completes the eligibility conditions.	  	  	  	  	  
	  
	 (c)	[   ]  	 Immediately preceding or coincident with the date	 N/A	  	 N/A	 [   ]	 [   ]
	  	  	  the Employee completes the eligibility conditions.	  	  	  	  	  
	  
	 (d)	[   ]  	 Immediately preceding the date the Employee	 N/A	  	 N/A	 [   ]	 [   ]
	  	  	  completes the eligibility conditions.	  	  	  	  	  
	  
	 (e)	[   ]  	 Nearest the date the Employee completes the	 N/A	  	 N/A	 [   ]	 [   ]
	  	  	  eligibility conditions.	  	  	  	  	  
	  
	 (f)	[   ]  	 Describe retroactive/prospective entry relative to Entry Date:  ______________________________________       
	  
	 [Note: Under Election 18(f), the Employer may describe the timing of entry relative to an Entry Date from the elections available under
	 Elections 18(a) through (e), or a combination thereof as to a Participant group and/or Contribution Type (e.g., As to Matching
	 Contributions excluding Additional Matching nearest as to Division A Employees and immediately following as to Division B
	 Employees).]          

© 2008 Wells Fargo Bank, N.A.

 9

Nonstandardized 401(k)

													
	 19. BREAK IN SERVICE – PARTICIPATION (2.03). The one year hold-out rule described in Section 2.03(C) (Choose one of (a),
	 (b), or (c)):    	  	  	  	  	  	  
	  
	 (a)	  	 [X] Does not apply.	  	  	  	  	  	  
	  
	 (b)	  	 [   ] Applies. Applies to the Plan and to all Participants.	  	  	  	  	  	  
	  
	 (c)	  	 [   ] Limited application. Applies to the Plan, but only to a Participant who has incurred a Severance from Employment.
	  
	 [Note: The Plan does not apply the rule of parity under Code §410(a)(5)(D) unless the Employer in Appendix B specifies otherwise. See
	 Section 2.03(D).]	  	  	  	  	  	  	  	  
	  
	 ARTICLE III
	 PLAN CONTRIBUTIONS AND FORFEITURES
	  
	 20. ELECTIVE DEFERRAL LIMITATIONS (3.02(A)). The following limitations apply to Elective Deferrals under Elections 6(a) and
	 6(b), which are in addition to those limitations imposed under the basic plan document (Choose (a) or choose (b) and (c) as
	 applicable):	  	  	  	  	  	  	  	  	  	  
	  
	 (a) IXI None. No additional Plan imposed limits.	  	  	  	  	  	  
	  
	 [Note: The Employer under Election 20 may not impose a lower deferral limit applicable only to Catch-Up Eligible Participants and the
	 Employer's elections must be nondiscriminatory. The elected limits apply to Pre-Tax Deferrals and to Roth Deferrals unless described
	 otherwise. Under a safe harbor plan: (i) NHCEs must be able to defer enough to receive the maximum Safe Harbor Matching and
	 Additional Matching Contribution under the plan and must be permitted to defer any lesser amount; and (ii) the Employer may limit
	 Elective Deferrals to a whole percentage of Compensation or to a whole dollar amount. See Section 1.54(C) as to administrative
	 limitations on Elective Deferrals.]	  	  	  	  	  	  
	  
	 (b) [   ] Additional Plan limit(s). (Choose (1) and (2) as applicable. Complete (3) if (1) or (2) is chosen):	  	  
	  	  	 (1)	  	 [   ] Maximum deferral amount. A Participant's Elective Deferrals may not exceed:____________________ (specify
	  	  	  	  	  	  	 dollar amount or percentage of Compensation).      
	  
	  	  	 (2)	  	 [   ] Minimum deferral amount. A Participant's Elective Deferrals may not be less than:   ________________  (specify dollar amount or percentage of Compensation).
	  
	  	  	 (3)	  	 Application of limitations. The Election 20(b)(1) and (2) limitations apply based on Elective Deferral Compensation
	  	  	  	  	 described in Elections 9 – 11. If the Employer elects Plan Year/Participation Compensation under column (1) and in Election  10 elects Participating Compensation, in the Plan Years commencing after an Employee becomes a Participant, apply the  elected minimum or maximum limitations to the Plan Year. Apply the elected limitation based on such Compensation during  the designated time period and only to HCEs as elected below. (Choose a. or choose b. and c. as applicable. Under each of  a., b. or c. choose one of (1) or (2). Choose (3) if applicable): 
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  
	  	  	  	  	  	  	  	  (1) 	 (2)	  	 (3)
	  	  	  	  	  	  	  	Plan Year/Participating 	 Payroll period	  	 HCEs only
	  	  	  	  	  	  	  	  Compensation 	  	  	  
	  
	  	  	  	  	 a.	  	 [   ] Both. Both limits	  	 [   ]	  	 [   ]	  	 [   ]
	  	  	  	  	  	  	        under Elections 20(b)(1) and (2).	  	  	  	  	  	  
	  
	  	  	  	  	 b.	  	 [   ] Maximum limit. The maximum	  	 [   ]	  	 [   ]	  	 [   ]
	  	  	  	  	  	  	        amount limit under Election 20(b)(1).	  	  	  	  	  	  
	  
	  	  	  	  	 c.	  	 [   ] Minimum limit. The minimum	  	 [   ]	  	 [   ]	  	 [   ]
	  	  	  	  	  	  	        amount limit under Election 20(b)(2).	  	  	  	  	  	  
	  
	 (c) [X] Describe Elective Deferral limitation(s): The Employer reserves the right to establish, at any time, an Elective Deferral
	  	  	  	  	 limitation for Highly Compensated Employees only.	  	  	  	  
	  
	 [Note: Under Election 20(c), the Employer: (i) may describe limitations on Elective Deferrals from the elections available under Elections  20(a) and (b) or a combination thereof as to a Participant group (e.g., No limit applies to Division A Employees. Division B Employees  may not defer in excess of 10% of Plan Year Compensation); (ii) may elect a different time period to which the limitations apply; and/or  (iii) may apply a different limitation to Pre-Tax Deferrals and to Roth Deferrals.]     

 © 2008 Wells Fargo Bank, N.A.

 10

 Nonstandardized 401(k)

											
	 21. AUTOMATIC DEFERRAL (3.02(B)). The Automatic Deferral provisions of Section 3.02(B) (Choose one of (a) or (b)):
	 (a)	  	 [   ] Do not apply.	  	  
	 (b)	  	 [X] Apply. The Automatic Deferral Effective Date is: September 1, 2010 (specify date). (Complete (1), (2), and (3). Choose
	  	  	  	  	 (4) as applicable):	  	  
	  	  	 (1) Automatic Deferral Amount. The Employer, as to each Participant affected, will withhold as the Automatic Deferral
	  	  	  	  	 Amount, 3% from the Participant's Compensation each payroll period unless the Participant makes a Contrary Election.
	  	  	 (2) Participants affected. The Automatic Deferral applies to (Choose one of a., b., c., or d.):
	  	  	  	  	 a.	  	[   ] 	  	  All Participants. All Participants, regardless of any prior Salary Reduction Agreement, unless and until they make a Contrary Election after the Automatic Deferral Effective Date.
	  	  	  	  	 b.	  	[   ] 	  	  Election of at least Automatic Deferral amount. All Participants, except those who have in effect a Salary
	  	  	  	  	  	  	  	  	 Reduction Agreement on the Automatic Deferral Effective Date provided that the Elective Deferral amount under the Agreement is at least equal to the Automatic Deferral Amount.
	  	  	  	  	 c.	  	[   ] 	  	  No existing Salary Reduction Agreement. All Participants, except those who have in effect a Salary Reduction Agreement on the Automatic Deferral Effective Date regardless of the Elective Deferral amount under the Agreement.
	  	  	  	  	 d.	  	[X] 	  	  New Participants. Each Employee whose Entry Date is on or following the Automatic Deferral Effective Date.
	  	  	 (3) Scheduled increases. The Automatic Deferral Amount will or will not increase (as a percentage of Compensation) in Plan
	  	  	  	  	 Years following the Plan Year containing the Automatic Deferral Effective Date (or, if later, the Plan Year in which the
	  	  	  	  	 Automatic Deferral first applies to a Participant) as follows (Choose one of a., b., or c.):
	  	  	  	  	 a.	  	 [X] No scheduled increase. The Automatic Deferral Amount applies in all Plan Years.
	  	  	  	  	 b.	  	 [   ] Scheduled increase. The Automatic Deferral Amount will increase as follows:
	  	  	  	  	  	  	  	  	 Plan Year of application to a Participant	  	 Automatic Deferral Amount
	  	 	  	 	  	 	  	 	
      

	  	  	  	  	  	  	  	  	             1	  	 3%                   
	  	  	  	  	  	  	  	  	             2	  	 3%                   
	  	  	  	  	  	  	  	  	             3	  	 4%                   
	  	  	  	  	  	  	  	  	             4	  	 5%                   
	  	  	  	  	  	  	  	  	             5 and thereafter	  	 6%                   
	  	  	  	  	 c.	  	 [   ] Other scheduled increase. The Automatic Deferral Amount will increase as follows:
	  	  	  	  	  	  	  	  	 Plan Year of application to a Participant	  	 Automatic Deferral Amount
	  	 	  	 	  	 	  	 	
      

	 	
      

	  	  	  	  	  	 	 	 	 	 	_____%                   
	  	  	  	  	  	  	  	  	  	  	 _____%                   
	  	  	  	  	  	  	  	  	  	  	 _____%                   
	  	  	  	  	  	  	  	  	  	  	 _____%                   
	  	  	  	  	  	  	  	  	  	  	 _____%                   
	  
	  	  	 (4) [X] Describe Automatic Deferral: The Automatic Deferral provisions will also apply to rehires.
	 [Note: Under Election 21(b)(4), the Employer may describe Automatic Deferral provisions from the elections available under Election 21  and/or a combination thereof as to a Participant group (e.g., Automatic Deferrals do not apply to Division A Employees. All Division B  Employee/Participants are subject to an Automatic Deferral Amount equal to 3% of Compensation effective as of January 1, 2008).]
	  
	 22. CODA (3.02(C)). The CODA provisions of Section 3.02(C) (Choose one of (a) or (b)):
	 (a)	  	 [X] Do not apply.	  	  
	 (b)	  	 [   ] Apply. For each Plan Year for which the Employer makes a designated CODA contribution under Section 3.02(C), a
	  	  	  	  	 Participant may elect to receive directly in cash not more than the following portion (or, if less, the Elective Deferral Limit) of
	  	  	  	  	 his/her proportionate share of that CODA contribution (Choose one of (1) or (2)):
	  	  	 (1)	  	 [   ] All or any portion.	  	  
	  	  	 (2)	  	 [   ]  _____%	  	  
	  
	 23. CATCH-UP DEFERRALS (3.02(D)). A Catch-Up Eligible Participant (Choose one of (a) or (b)):
	 (a)	  	 [X] Permitted. May make Catch-Up Deferrals to the Plan.	  	  
	 (b)	  	 [   ] Not Permitted. May not make Catch-Up Deferrals to the Plan.

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	 24. MATCHING CONTRIBUTIONS (EXCLUDING SAFE HARBOR MATCH AND ADDITIONAL MATCH UNDER SECTION
	 3.05) (3.03(A)). The Employer Matching Contributions under Election 6(c) are subject to the following additional elections regarding type
	 (discretionary/fixed), rate/amount, limitations and time period (collectively, such elections are "the matching formula") and the
	 allocation of Matching Contributions is subject to Section 3.06 except as otherwise provided (Choose one or more of (a) through (g) as
	 applicable; then, for the elected match, complete (1), (2), and/or (3) as applicable. If the Employer completes (2) or (3), also complete
	 one of (4), (5), or (6)):	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	 
	 [Note: If the Employer wishes to make any Matching Contributions that satisfy the ADP or ACP safe harbor, the Employer should make
	 these Elections under Election 30, and not under this Election 24.]	  	  	  	  	  	  	  	  
	  
	  	  	  	  	  	  	 (1)	  	  	  	 (2)	  	 (3)	  	 (4)	  	 (5)	  	 (6)
	  	  	  	  	  	  	  	  	  	  	 Limit on	  	  	  	  	  	 Apply	  	 Apply
	  	  	  	  	  	  	 Match	  	  	  	 Deferrals	  	 Limit on	  	 Apply	  	 limit(s) per 	 	limit(s) per
	  	  	  	  	  	  	 Rate/Amt	 	 	  	 Matched	  	 Match Amount 	 	limit(s) per	  	 payroll	  	 designated
	  	  	  	  	  	  	 I$/% of Elective	 	 	  	 I$/% of	  	 I$/% of	  	 Plan Year	  	 period Ino	  	 time period
	  	  	  	  	  	  	 DeferralsI	 	 	  	 CompensationI	  	 CompensationI  	 	I"true-up"I	 	"true-up"I 	 	Ino"true-up"I
	  
	 (a)	  	 [X] Discretionary – see	  	  	  	  	  	  	  	  	  	 [   ]	  	 [   ]	  	 [X]
	  	  	       Section 1.34(B) (The  	  	  	  	  	  	  	  	  	  	  	  	  	 Quarterly,
	  	  	       Employer may, but is  	  	  	  	  	  	  	  	  	  	  	  	  	 but the
	  	  	       not required to   	  	  	  	  	  	  	  	  	  	  	  	  	 Employer
	  	  	       complete (a)(1)-(6).  	  	  	  	  	  	  	  	  	  	  	  	  	 reserves the
	  	  	       See the "Note"  	  	  	  	  	  	  	  	  	  	  	  	  	 right to
	  	  	       following Election 24.)  	  	  	  	  	  	  	  	  	  	  	  	  	 perform a
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 match "tru-
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 up"
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 calculation
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 for the Plan
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 Year.
	 (b)	  	 [   ] Fixed– uniform	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	       rate/amount	  	  	  	  	  	  	  	  	  	 [   ]	  	 [   ]	  	 [   ] _____
	  
	 (c)	  	 [   ] Fixed – tiered	  	 Elective	  	 Matching	  	_________ 	  	 ________[   ]	  	  	  	 [   ]	  	 [   ] _____
	  	  	  	  	  	  	 Deferral %	  	 Rate	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	 _____%	  	 _____%	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	 _____%	  	 _____%	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	 _____%	  	 _____%	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	 _____%	  	 _____%	  	  	  	  	  	  	  	  	  	  
	  
	 (d)	  	 [   ] Fixed– Years of	  	 Years	  	 Matching	  	_________ 	  	 ________[   ]	  	  	  	 [   ]	  	 [   ] _____
	  	  	 Service	  	 of Service	  	 Rate	  	  	  	  	  	  	  	  	  	  
	  	 	  	 	 

	 	  	 	  	 	  	 	  	 	  	 	  
	  	  	  	  	  	  	_______ 	  	 ______%	  	  	  	  	  	  	  	  	  	  
	  	 	  	 	  	 	 

	 	  	 	  	 	  	 	  	 	  	 	  
	  	  	  	  	  	  	_______ 	  	 ______%	  	  	  	  	  	  	  	  	  	  
	  	 	  	 	  	 	 

	 	  	 	  	 	  	 	  	 	  	 	  
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	 	  	 	  	 	
      _______

	 	______% 	 	  	 	  	 	  	 	  	 	  
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	 	  	 	  	 	
      _______

	 	______% 	 	  	 	  	 	  	 	  	 	  
	  
	  	  	 (1) "Years of Service" under this Election 24(d) means (Choose one of a. or b.):	  	  	  	  	  	  
	  	  	 a.	  	 [   ] Eligibility. Years of Service for eligibility in Election 16.	  	  	  	  	  	  	  	  
	  
	  	  	 b.	  	 [   ] Vesting. Years of Service for vesting in Elections 42 and 43.	  	  	  	  	  	  
	  
	 (e)	  	 [   ] Fixed– multiple	  	 Formula 1:	  	  	  	  	  	  	  	 [   ]	  	 [   ]	  	 [   ] _____
	  	  	        formulas	  	  	  	 

           	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	  	  	  	  	 Formula 2:	  	  	  	  	  	  	  	 [   ]	  	 [   ]	  	 [   ] _____
	  	 	  	 	  	 	  	 	

      

	 	  	 	  	 	  
	  
	  	  	  	  	  	  	 Formula 3:	  	  	  	  	  	  	  	 [   ]	  	 [   ]	  	 [   ] _____
	  	 	  	 	  	 	  	 	
      

	 	  	 	  	 	  
	  
	 (f)	  	 [   ] Related and Participating Employers. If any Related and Participating Employers contribute Matching Contributions to the
	  	  	 Plan, the following apply (Complete (1) and (2)):	  	  	  	  	  	  	  	  	  	  
	  
	  	  	 (1) Matching formula. The matching formula for the Participating Employer(s) (Choose one of a. or b.):	  	  	  	  
	  
	  	  	 a.	  	 [   ] All the same. Is (are) the same as for the Signatory Employer under this Election 24.	  	  	  	  
	  
	  	  	 b.	  	 [   ] At least one different. Is (are) as follows:     _______________________________.    
	  
	  	  	 (2) Allocation sharing. The Plan Administrator will allocate the Matching Contributions made by the Signatory Employer and by
	  	  	       any Participating Employer (Choose one of a. or b.):	  	  	  	  	  	  	  	  	  	  
	  
	  	  	 a.	  	 [   ] Employer by Employer. Only to the Participants directly employed by the contributing Employer.	  	  

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	  	  	  	  	 b.	  	 [   ] Across Employer lines. To all Participants regardless of which Employer directly employs them and regardless of whether their direct Employer made Matching Contributions for the Plan Year. 
	 
	 [Note: The Employer should not elect 24(f) unless there are Related Employers which are also Participating Employers. See Section
	 1.23(D).]            
	 
	 (g) [   ] Describe:         _______________________________________________________________________(e.g., A Discretionary
	                  Matching Contribution applies to Division A Participants. A Fixed Matching Contribution equal to 50% of Elective Deferrals 
	                  not exceeding 6% of Plan Year Compensation applies to Division B Participants.)  
	 
	 [Note: See Section 1.34(A) as to Fixed Matching Contributions. A Participant's Elective Deferral percentage is equal to the Participant's  Elective Deferrals divided by his/her Compensation. The matching rate/amount is the specified rate/amount of match for the corresponding  Elective Deferral amount/percentage. Any Matching Contributions apply to Pre-Tax Deferrals and to Roth Deferrals unless described otherwise  in Election 24(g). Matching Contributions for nondiscrimination testing purposes are subject to the targeting limitations. See Section 4.10(D).  The Employer under Election 24(a) in its discretion may determine the amount of a Discretionary Matching Contribution and the matching  contribution formula. Alternatively, the Employer in Election 24(a) may specify the Discretionary Matching Contribution formula.]
	 
	 25. QMAC (PLAN-DESIGNATED) (3.03(C)(1)). The following provisions apply regarding Plan-Designated QMACs (Choose one of
	 (a) or (b)):	  	  	  	  	  	  	  	  	  	  	  	  
	 
	 [Note: Regardless of its elections under this Election 25, the Employer under Section 3.03(C)(2) may elect for any Plan Year where the Plan is using Current Year Testing to make Operational QMACs which the Plan Administrator will allocate only to NHCEs for purposes of  correction of an ADP or ACP test failure.]        
	 	 	 	 	 	 	 
	 (a)	  	 [X] Not applicable. There are no Plan-Designated QMACs.	  	  	  	  
	 (b)	  	 [   ] Applies. There are Plan-Designated QMACs to which the following provisions apply (Complete (1) and (2)):
	  	  	 (1) Matching Contributions affected. The following Matching Contributions (as allocated to the designated allocation group
	  	  	  	  	 under Election 25(b)(2)) are Plan-Designated QMACs (Choose one of a. or b.):	  	  	  	  
	  	  	  	  	 a.	  	 [   ] All. All Matching Contributions.	  	  	  	  	  	  
	  	  	  	  	 b.	  	 [   ] Designated. Only the following Matching Contributions under Election 24:	  	 .
	  	  	 (2) Allocation Group. Subject to Section 3.06, allocate the Plan-Designated QMAC (Choose one of a. or b.):
	  	  	  	  	 a.	  	 [   ] NHCEs only. Only to NHCEs who make Elective Deferrals subject to the Plan-Designated QMAC.
	  	  	  	  	 b.	  	 [   ] All Participants. To all Participants who make Elective Deferrals subject to the Plan-Designated QMAC. The Plan
	 Administrator will allocate all other Matching Contributions as Regular Matching Contributions under Section 3.03(B), except as provided in Sections 3.03(C)(2) or 3.05.
	 	 	 
	 [Note: See Section 4.10(D) as to targeting limitations applicable to QMAC nondiscrimination testing.]	  	  
	 
	 26. MATCHING CATCH-UP DEFERRALS (3.03(D)). If a Participant makes a Catch-Up Deferral, the Employer (Choose one of (a) or (b)):
	 	 	 	 	 
	 (a) [X] Match. Will apply to the Catch-Up Deferral (Choose one of (1) or (2)):	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 
	  	  	 (1)	  	 [X] All. All Matching Contributions.	  	  	  	  	  	  
	 	 	 	 	 
	  	  	 (2)	  	 [   ] Designated. The following Matching Contributions in Election 24: _________________________________.
	 	 	 	 	 	 	 
	 (b) [   ] No Match. Will not match any Catch-Up Deferrals.	  	  	  	  	  	  
	 
	 [Note: Election 26 does not apply to a safe harbor 401(k) plan unless the Employer will apply the ACP test. See Elections 37(a)(2)b. and  37(a)(2)c.(ii). In this case, Election 26 applies only to Additional Matching, if any. A safe harbor 401(k) Plan will apply the Basic Match or  Enhanced Match to Catch-Up Deferrals. If the Employer elects to apply the ACP test safe harbor under Election 37(a)(2)a. or  37(a)(2)c.(i), Election 26 does not apply and the Plan also will apply any Additional Match to Catch-Up Deferrals.]
	 
	 27. NONELECTIVE CONTRIBUTIONS (TYPE/AMOUNT) INCLUDING PREVAILING WAGE CONTRIBUTIONS (3.04(A)). The
	 Employer Nonelective Contributions under Election 6(d) are subject to the following additional elections as to type and amount (Choose
	 one or more of (a) through (e) as applicable):	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 
	 (a)	  	 [   ] Discretionary. An amount the Employer in its sole discretion may determine.	  	  	  	  
	 	 	 	 	 	 	 
	 (b)	  	 [   ] Fixed. (Choose one or more of (1), (2), and (3) as applicable):	  	  	  	  
	 	 	 	 	 	 	 
	  	  	 (1)	  	 [   ] Uniform %._______% of each Participant's Compensation, per ________________   (e.g., Plan Year, month).
	 	 	 	 	 	 	 	 	 
	  	  	 (2)	  	 [   ] Fixed dollar amount. $   ______,  per    __________(e.g., Plan Year, month, HOS, per Participant per month).
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	 (3)	  	 [   ] Describe:          __________________________________(specify time period, e.g., per
	  	  	  	  	       Plan Year quarter. If not specified, the time period is the Plan Year).       

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	 [Note: The Employer under Election 27(b)(3) may specify any Fixed Nonelective Contribution formula not described under Elections  27(b)(1) or (2) (e.g., For each Plan Year, 2% of net profits exceeding $50,000) and/or the Employer may describe different Fixed  Nonelective Contributions as applicable to different Participant groups (e.g., A Fixed Nonelective Contribution equal to 5% of Plan  Year  Compensation applies to Division A Participants and a Fixed Nonelective Contribution equal to $500 per Participant each Plan Year  applies to Division B Participants).]    
	  
	 (c) [   ] Prevailing Wage Contribution. The Prevailing Wage Contribution amount(s) specified for the Plan Year or other applicable
	  	  	 period in the Employer's Prevailing Wage Contract(s). The Employer will make a Prevailing Wage Contribution only to
	  	  	 Participants covered by the Contract and only as to Compensation paid under the Contract. If the Participant accrues an
	  	  	 allocation of Employer Contributions (including forfeitures) under the Plan or any other Employer plan in addition to the
	  	  	 Prevailing Wage Contribution, the Plan Administrator will (Choose one of (1) or (2)):
	  
	 (1)	  	 [   ] No offset. Not reduce the Participant's Employer Contribution allocation by the amount of the Prevailing Wage
	  	  	  	  	 Contribution.	  	  	  	  
	  
	 (2)	  	 [   ] Offset. Reduce the Participant's Employer Contribution allocation by the amount of the Prevailing Wage Contribution.
	  
	 (d) [   ] Related and Participating Employers. If any Related and Participating Employers contribute Nonelective Contributions to
	  	  	 the Plan, the contribution formula(s) (Choose one of (1) or (2)):
	  
	 (1)	  	 [   ] All the same. Is (are) the same as for the Signatory Employer under this Election 27.
	  
	 (2)	  	 [   ] At least one different. Is (are) as follows:	  	 .
	  
	 [Note: The Employer should not elect 27(d) unless there are Related Employers which are also Participating Employers. See Section  1.23(D). The Employer electing 27(d) also must complete Election 28(g) as to the allocation methods which apply to the Participating  Employers.]        
	  
	 (e) [   ] Describe:	  	  	  	  	  	  
	  	

      

	  
	 [Note: Under Election 27(e), the Employer may describe the amount and type of Nonelective Contributions from the elections available  under Election 27 and/or a combination thereof as to a Participant group (e.g., A Discretionary Nonelective Contribution applies to  Division A Employees. A Fixed Nonelective Contribution equal to 5% of Plan Year Compensation applies to Division B Employees).]
	  
	 28. NONELECTIVE CONTRIBUTION ALLOCATION (3.04(B)). The Plan Administrator, subject to Section 3.06, will allocate to each
	 Participant any Nonelective Contribution (excluding QNECs) under the following contribution allocation formula (Choose one or more of
	 (a) through (h) as applicable):	  	  	  	  
	  
	 (a) [   ] Pro rata. As a uniform percentage of Participant Compensation.
	  
	 (b) [   ] Permitted disparity. In accordance with the permitted disparity allocation provisions of Section 3.04(B)(2), under which the
	  	  	 following permitted disparity formula and definition of "Excess Compensation" apply (Complete (1) and (2)):
	  
	              (1) Formula (Choose one of a. or b.):	  	  	  	  
	  
	  	  	 a.	  	 [   ] Two-tiered.	  	  	  	  
	  
	  	  	 b.	  	 [   ] Four-tiered.	  	  	  	  
	  
	              (2) Excess Compensation. For purposes of Section 3.04(B)(2), "Excess Compensation" means Compensation in excess of
	  	  	 (Choose one of a. or b.):	  	  	  	  
	  
	  	  	 a.	  	 [   ] Percentage amount. ____   % (not exceeding 100%) of the taxable wage base in effect on the first day of the Plan
	  	  	  	  	  	  	 Year, rounded to the next highest $____ (not exceeding the taxable wage base).
	  
	  	  	 b.	  	 [   ] Dollar amount. The following amount: $ ____   (not exceeding the taxable wage base in effect on the first day of
	  	  	  	  	  	  	 the Plan Year).	  	  	  	  
	  
	 (c) [   ] Incorporation of contribution formula. The Plan Administrator will allocate any Fixed Nonelective Contribution under
	  	  	 Elections 27(b), 27(d), or 27(e), or any Prevailing Wage Contribution under Election 27(c), in accordance with the contribution
	  	  	 formula the Employer adopts under those Elections.	  	  
	  
	 (d) [   ] Classifications of Participants. In accordance with the classifications allocation provisions of Section 3.04(B)(3). The
	  	  	 classifications are (Choose one of (1), (2), or (3)):	  	  
	  
	 [Note: Typically, the Employer would elect 28(d) where it intends to satisfy nondiscrimination requirements using "cross-testing" under  Treas. Reg. §1.401(a)(4)-8. However, choosing this election does not necessarily require application of cross-testing and the Plan may be  able to satisfy nondiscrimination as to its classification-based allocations by testing allocation rates.] 
	 	 	 	 	 
	 (1)	  	 [   ]	  	 Each in own classification. Each Participant constitutes a separate classification.
	 (2)	  	 [   ]	  	 NHCEs/HCEs. Nonhighly Compensated Employee/Participants and Highly Compensated Employee/Participants.
	 (3)	  	 [   ]	  	 Describe the classifications:	  	  
	  	 	  	 	  	 	 	
      

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	 [Note: Any classifications under Election 28(d)
must result in a definitely determinable allocation under Treas. Reg.
§1.401-1(b)(1)(ii) and  must constitute a reasonable classification
within the meaning of Treas. Reg. §1.410(b)-4(b). The number of allocation
rates is subject  to the limitations in Section 3.04(B)(3)(b). Standard
interest and mortality assumptions under Treas. Reg. §1.401(a)(4)-12 apply.
In the case of a self-employed Participant, the requirements of Treas.
Reg. §1.401(k)-1(a)(6) apply and the allocation method should not
result in a cash or deferred election for the self-employed Participant.
The Employer by the due date of its tax return (including extensions) 
must advise the Plan Administrator or Trustee in writing as to the allocation
rate applicable to each Participant under Election 28(d)(1)  or
applicable to each classification under Elections 28(d)(2) or (3) for the
allocation Plan Year. Under Election 28(d)(1), the Employer may decide
from year to year the classification (allocation rate) applicable to each
Participant, without the need to amend the Plan to change the
classification.] 
	   
	 (e) [   ] Age-based. In accordance with the age-based allocation provisions of Section 3.04(B)(5). The Plan Administrator will use the 
	   	   	 Actuarial Factors based on the following assumptions (Complete both (1) and (2)): 	   	   
	   
	 (1) 	   	 Interest rate. (Choose one of a., b., or c.): 	   	   	   	   
	   
	   	   	 a. 	   [   ] 7.5% 	   	 b. [   ] 8.0% 	   	 c. [   ] 8.5% 	   	   
	   
	 (2) 	   	 Mortality table. (Choose one of a. or b.): 	   	   	   	   
	   
	   	   	 a. 	   	 [      ] UP-1984. See Appendix D. 	   	   	   	   
	   
	   	   	 b. 	   	 [   ] Alternative:         _____________ (Specify 1983 GAM, 1983 IAM, 1971 GAM or 1971 IAM and attach 	   	   
	   	   	   	   	   	   	 applicable tables using such mortality table and the specified interest rate as replacement Appendix D.) 	   	   
	   
	 (f) [   ] Uniform points. In accordance with the uniform points allocation provisions of Section 3.04(B)(6). Under the uniform points 	   	   
	   	   	 allocation formula, a Participant receives (Choose one or both of (1) and (2). Choose (3) if applicable): 	   	   
	   
	 (1) [      ] Years of Service.    _____ point(s) for each Year of Service. The maximum number of Years of Service counted 
	   	       for points is    _________ .         
	   
	   	   	 "Year of Service" under this Election 28(f) means (Choose one of a. or b.): 	   	   
	   
	   	   	 a. 	   	 [   ] Eligibility. Years of Service for eligibility in Election 16. 	   	   
	   
	   	   	 b. 	   	 [   ] Vesting. Years of Service for vesting in Elections 42 and 43. 	   	   
	   
	   	   	 [Note: A Year of Service must satisfy Treas. Reg. §1.401(a)(4)-11(d)(3) for the uniform points allocation to qualify as a safe   harbor allocation under Treas. Reg. §1.401(a)(4)-2(b)(3).]     
	   	   
	   
	 (2) [      ] Age.________         point(s) for each year of age attained during the Plan Year. 	   	   
	   
	 (3) [      ] Compensation.    ________ point(s) for each $ ______(not to exceed $200) increment of Plan Year Compensation. 
	   
	 (g) [   ] Related and Participating Employers. If any Related and Participating Employers contribute Nonelective Contributions 
	   	   	 to the Plan, the Plan Administrator will allocate the Nonelective Contributions made by the Participating Employer(s) under 
	   	   	 Election 27(d) (Complete (1) and (2)): 	   	   	   	   
	   
	          (1) Allocation Method. (Choose one of a. or b.): 	   	   	   	   
	   
	   	   	 a. 	   	 [   ] All the same. Using the same allocation method as applies to the Signatory Employer under this Election 28. 
	   
	   	   	 b. 	   	 [   ] At least one different. Under the following allocation method(s): 	   	 . 
	   
	          (2) Allocation sharing. The Plan Administrator will allocate the Nonelective Contributions made by the Signatory Employer 
	   	   	 and by any Participating Employer (Choose one of a. or b.): 	   	   
	   
	   	   	 a. 	   	 [   ] Employer by Employer. Only to the Participants directly employed by the contributing Employer. 	   	   
	   
	   	   	 b. 	   	 [   ] Across Employer lines. To all Participants regardless of which Employer directly employs them and regardless 
	   	   	   	   	   	   of  whether their direct Employer made Nonelective Contributions for the Plan Year. 	   	   
	   
	 [Note: The Employer should not elect 28(g) unless there are Related Employers which are also Participating Employers. See Section   1.23(D) and Election 27(d). If the Employer elects 28(g)(2)a., the Employer should also elect 11(b)(8)b., to disregard the Compensation  paid by "Y" Participating Employer in determining the allocation of the "X" Participating Employer contribution to a Participant (and vice  versa) who receives Compensation from both X and Y. If the Employer elects 28(g)(2)b., the Employer should not elect 11(b)(8)b. Election  28(g)(2)a. does not apply to Safe Harbor Nonelective Contributions.]     
	   
	 (h) [   ] Describe: 	   	   	   	   	   	   
	   	 	 	

      

    
	   	   	 (e.g., Pro rata as to Division A Participants and Permitted Disparity (two-tiered at 100% of the SSTWB) as to Division B      Participants.)             

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 15

 Nonstandardized 401(k)

	 	 	 	 	 	 	 	 	 	 	 
	 29. QNEC (PLAN-DESIGNATED) (3.04(C)(1)). The following provisions apply regarding Plan-Designated QNECs (Choose one of 
	 (a) or (b)): 	   	   	   	   	   	   	   	   
	   
	 [Note: Regardless of its elections under this Election 29, the Employer under Section 3.04(C)(2) may elect for any Plan Year where the 
	 Plan is using Current Year Testing to make Operational QNECs which the Plan Administrator will allocate only to NHCEs for purposes  
	 of correction of an ADP or ACP test failure.] 	   	   	   	   
	   
	 (a) 	   	 [   ] Not applicable. There are no Plan-Designated QNECs. 	   	   
	   
	 (b) 	   	 [   ] Applies. There are Plan-Designated QNECs to which the following provisions apply (Complete (1), (2), and (3)): 
	   
	   	   	 (1) Nonelective Contributions affected. The following Nonelective Contributions (as allocated to the designated allocation group 
	   	   	       under Election 29(b)(2)) are Plan-Designated QNECs (Choose one of a. or b.): 	   	   
	   
	   	   	 a. 	   	 [   ] All. All Nonelective Contributions. 	   	   	   	   
	   
	   	   	 b. 	   	 [   ] Designated. Only the following Nonelective Contributions under Election 27:  __________________ . 
	   
	   	   	 (2) Allocation Group. Subject to Section 3.06, allocate the Plan-Designated QNEC (Choose one of a. or b.): 
	   
	   	   	 a. 	   	 [   ] NHCEs only. Only to NHCEs under the method elected in Election 29(b)(3). 	   	   
	   
	   	   	 b. 	   	 [   ] All Participants. To all Participants under the method elected in Election 29(b)(3). 
	   
	   	   	 (3) Allocation Method. The Plan Administrator will allocate a Plan-Designated QNEC using the following method (Choose 
	   	   	       one of a., b., c., or d.): 	   	   	   	   
	   
	   	   	 a. 	   	 [      ] Pro rata. 	   	   	   	   
	   
	   	   	 b. 	   	 [      ] Flat dollar. 	   	   	   	   
	   
	   	   	 c. 	   	 [   ] Reverse. See Section 3.04(C)(3). 	   	   	   	   
	   
	   	   	 d. 	   	 [      ] Describe: 	   	   	   	   
	   	  	   	  	   	  	   	

      

 
	 [Note: Any allocation method the Employer elects under Election 29(b)(3)d. must be definitely determinable. See Section 4.10(D) as to 
	 targeting limitations applicable to QNEC nondiscrimination testing.] 	   	   
	   
	 30. SAFE HARBOR 401(k) PLAN (SAFE HARBOR CONTRIBUTIONS/ADDITIONAL MATCHING CONTRIBUTIONS) (3.05). 
	 The Employer under Election 6(e) will (or in the case of the Safe Harbor Nonelective Contribution may) contribute the following Safe 
	 Harbor Contributions described in Section 3.05(E) and will or may contribute Additional Matching Contributions described in Section 
	 3.05(F) (Choose one of (a), (b), (c), or (d) when and as applicable. Complete (e) and (h). Choose (f), (g), and (i) as applicable): 
	  	  	  	  	  
	 (a) 	   	 [   ] Safe Harbor Nonelective Contribution. The Safe Harbor Nonelective Contribution equals 	   	 % of a Participant's 
	   	   	 Compensation [Note: The amount in the blank must be at least 3%. The Safe Harbor Nonelective Contribution applies toward 
	   	   	 (offsets) most other Employer Nonelective Contributions. See Section 3.05(E)(11).] 	   	   
	   
	 (b) 	   	 [   ] Safe Harbor Nonelective Contribution/delayed year-by-year election (maybe and supplemental notices). In connection 
	   	   	 with the Employer's provision of the maybe notice under Section 3.05(I)(1), the Employer elects into safe harbor status by giving 
	   	   	 the supplemental notice and by making this Election 30(b) to provide for a Safe Harbor Nonelective Contribution equal to 
	   	   	 _______________% (specify amount at least equal to 3%) of a Participant's Compensation. This Election 30(b) and safe harbor  
	   	   	 status applies for the Plan Year ending: ________________  (specify Plan Year end), which is the Plan Year to which the 
	   	   	 Employer's maybe and supplemental notices apply. 	   	   	   	   
	   
	 [Note: If the Employer makes a delayed election
into safe harbor status under Section 3.05(I)(1), the Employer must amend the
Plan to  provide for a Safe Harbor Nonelective Contribution equal to at
least 3% of each Participant's Compensation. The Employer may make this 
amendment by substitute Adoption Agreement page (electing Election 30(b)) or
by another form of amendment under Section 11.02(B). An  Employer using
the maybe notice should not elect a Safe Harbor Nonelective Contribution under
Election 30(a) unless the Employer intends  to continue safe harbor
status under this election in the subsequent Plan Year. By making its amendment
into safe harbor status under Election 30(b), the Employer avoids the
need to further amend the Plan if the Employer is not certain that it will apply
the safe harbor in the  subsequent Plan Year. By contrast, an Employer
which gave the maybe notice and has decided to make the Safe Harbor
Nonelective Contribution for that year and for future years should use
Election 30(a). The Employer only elects 30(a) and should not elect 30(b) if
prior to the Plan Year the Employer unequivocally decides to elect safe
harbor status for the Plan Year and provides a safe harbor notice
consistent with this election rather than giving the maybe notice. If the
Employer gives the maybe notice and the Employer will or may make
Matching Contributions, the Employer should elect Additional Matching under
Election 30(h)(and should not elect Matching Contributions under Election
24) if it wishes to avoid ACP testing.] 

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 Nonstandardized 401(k)

	 	 	 	 	 	 	 	 	 	 	 
	 (c) [   ] Basic Matching Contribution. A Matching Contribution equal to 100% of each Participant's Elective Deferrals not exceeding 
	   	   	 3% of the Participant's Compensation, plus 50% of each Participant's Elective Deferrals in excess of 3% but not in excess of5% 
	   	   	 of the Participant's Compensation. See Sections 1.34(E) and 3.05(E)(4). (Complete (1)): 	   	   
	   
	         (1) Time period. For purposes of this Election 30(c), "Compensation" and "Elective Deferrals" mean Compensation and Elective 
	   	   	 Deferrals for: . [Note: The Employer must complete the blank line with the applicable time period 
	   	   	 for computing the Basic Match, such as "each payroll period," "each calendar month," "each Plan Year quarter" or "the Plan 
	   	   	 Year."] 	   	   	   	   	   	   
	   
	 (d) [   ] Enhanced Matching Contribution. See Sections 1.34(F) and 3.05(E)(5). (Choose one of (1) or (2) and complete (3) for any 	   	   
	   	   	 election): 	   	   	   	   	   	   
	   
	 (1) 	   	 [   ] Uniform percentage. A Matching Contribution equal to _____% of each Participant's Elective Deferrals but not as to 
	   	   	   	   	 Elective Deferrals exceeding_______ % of the Participant's Compensation. 	   	   
	   
	 (2) 	   	 [   ] Tiered formula. A Matching Contribution equal to the specified matching rate for the corresponding level of each 	   	   
	   	   	   	   	 Participant's Elective Deferral percentage. A Participant's Elective Deferral percentage is equal to the Participant's Elective Deferrals divided by his/her Compensation. 	   	   
	   
	   	   	   	   	 Elective Deferral Percentage 	   	 Matching Rate 	   	   
	   	  	   	  	
      

 	  	
      

 	  	   
	   
	   	   	   	   	   ______% 	   	 ____________________% 	   	   
	   	   	   	   	   ______% 	   	 ____________________% 	   	   
	   	   	   	   	   ______% 	   	 ____________________% 	   	   
	   
	 (3) 	   	 Time period. For purposes of this Election 30(d), "Compensation" and "Elective Deferrals" mean Compensation and Elective 
	   	   	 Deferrals for: _______________   . [Note: The Employer must complete the blank line with the applicable time period 
	   	   	 for computing the Enhanced Match, such as "each payroll period," "each calendar month," "each Plan Year quarter" or "the Plan Year."] 
	   
	 [Note: The matching rate may not increase as the Elective Deferral percentage increases and the Enhanced Matching formula otherwise 
	 must satisfy the requirements of Code §§401(k)(12)(B)(ii) and (iii). If the Employer elects to satisfy the ACP safe harbor under Election 
	 37(a)(2)a., the Employer also must limit Elective Deferrals taken into account for the Enhanced Matching Contribution to a maximum of 
	 6% of Plan Year Compensation.] 	   	   	   	   	   	   
	   
	 (e) Participants who will receive Safe Harbor Contributions. The allocation of Safe Harbor Contributions (Choose one of (1), (2), or (3)): 	   	   
	   
	 (1) 	   	 [   ] 	   	 Applies to all Participants. Applies to all Participants except as may be limited under Election 30(f). 	   	   
	  	  	  	  	  	  	  
	 (2) 	   	 [   ] 	   	 NHCEs only. Is limited to NHCE Participants only and may be limited further under Election 30(f). No HCE will 	   	   
	   	   	   	   	 receive a Safe Harbor Contribution allocation. 	   	   	   	   
	   
	 (3) 	   	 [   ] 	   	 NHCEs and designated HCEs. Is limited to NHCE Participants and to the following HCE Participants and may be  
	   	   	   	   	limited further under Election 30(f):     	   	   	   	 . 
	   	  	   	  	   	 

 	 

     	
      

     	   
	   
	 [Note: Any HCE allocation group the Employer describes under Election 30(e)(3) must be definitely determinable. (e.g., Division "A"    HCEs OR HCEs who own more than 5% of the Employer without regard to attribution rules).]   
	   
	 (f) [   ] Early Elective Deferrals/delay of Safe Harbor Contribution. The Employer may elect this Election 30(f) only if the Employer 
	   	   	 in Election 14 elects eligibility
requirements for Elective Deferrals of less than age 21 and one Year of Service
but elects age 21 and one Year of Service for Safe Harbor Matching or for Safe
Harbor Nonelective Contributions. The Employer under this Election 30(f) limits
the allocation of any Safe Harbor Contribution under Election 30 for a Plan Year
to those Participants: (i) who have attained age 21; (ii) who have completed one
Year of Service; and (iii) who the Plan Administrator in applying the OEE rule
described in Section 4.06(C), treats as benefiting in the disaggregated plan
covering the Includible Employees. Those Participants in the Plan Year whom the
Plan Administrator treats as Otherwise Excludable Employees will not receive any
Safe Harbor Contribution allocation and the Plan Administrator will apply the
ADP (and, as applicable the ACP) test(s) to the disaggregated plan benefiting
the Otherwise Excludable Employees. If the Employer in Election 10(a)(2) has
elected "Participating Compensation" for allocating Elective Deferrals,
Nonelective Contributions or Matching Contributions (as relevant to the
allocation under this Election 30 based on the Contribution Type), the Plan
Administrator, in allocating the Safe Harbor Contribution for the Plan Year in
which the Participant crosses over to the Includible Employees group, will count
Compensation and Elective Deferrals only on and following the Cross-Over Date.
See Section 3.05(D). 
	   	   
	   	   
	   	   
	   	   
	   	   
	   	   
	   	   
	   	   
	   	   
	   	   
	   	   
	   
	 (g) [   ] Another plan. The Employer will make the Safe Harbor Contribution to the following plan:    _____________________________. 

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 17

 Nonstandardized 401(k)

	 	 	 	 	 	 	 	 	 	 	 
	 (h) Additional Matching Contributions. See Sections 1.34(G) and 3.05(F). (Choose one of (1) or (2)): 
	   
	   	   	 (1) 	   	 [   ] No Additional Matching Contributions. The Employer will not make any Additional Matching Contributions to its  
	   	   	   	   	        safe harbor Plan. 	   	   	   	   
	   
	   	   	 (2) 	   	 [   ] Additional Matching Contributions. The Employer will or may make the following Additional Matching 
	   	   	   	   	        Contributions to its safe harbor Plan. (Choose a. and b. as applicable):   
	   
	   	   	 a. 	   	 [   ] Fixed Additional Matching Contribution. The following Fixed Additional Matching Contribution (Choose (i) 
	   	   	   	   	          and (ii) as applicable and complete (iii) for any election): 	   	   
	   
	   	   	   	   	 (i) 	   	 [   ] Uniform percentage. A Matching Contribution equal to ____  % of each Participant's Elective Deferrals but not as to Elective Deferrals exceeding _______% of the Participant's Compensation. 
	   
	   	   	   	   	 (ii) 	   	 [   ] Tiered formula. A Matching Contribution equal to the specified matching rate for the corresponding level of each Participant's Elective Deferral percentage. A Participant's Elective Deferral percentage is equal to the 
	   	   	   	   	   	   	 Participant's Elective Deferrals divided by his/her Compensation. 
	   
	   	   	   	   	   	   	 Elective Deferral Percentage 	   	 Matching Rate 
	   	  	   	  	   	  	

      

 
	   	   	   	   	   	   	 _____% 	   	   	   	 _____________________% 
	   	   	   	   	   	   	 _____% 	   	   	   	 _____________________% 
	   	   	   	   	   	   	 _____% 	   	   	   	 _____________________% 
	   
	   	   	   	   	 (iii) 	   	 Time period. For purposes of this Election 30(h)(2)a., "Compensation" and "Elective Deferrals" mean 
	   	   	   	   	   	   	 Compensation and Elective Deferrals for: __________________    . [Note: The Employer must complete  the blank line with the applicable time period for computing the Additional Match, e.g., "each payroll period,"  "each calendar month," "each Plan Year quarter" OR "the Plan Year." If the Employer elects a match under both  (i) and (ii) and will apply a different time period to each match, the Employer may indicate as such in the blank  line.]         
	   	   	   	   	   	   
	   	   	   	   	   	   
	   	   	   	   	   	   
	   	   	   	   	   	   
	   
	   	   	 b. [   ] Discretionary Additional Matching Contribution. The Employer may make a Discretionary Additional 
	   	   	   	   	   	   	 Matching Contribution. If the Employer makes a Discretionary Matching Contribution, the Discretionary Matching  Contribution will not apply as to Elective Deferrals exceeding ___________   % of the Participant's Compensation  (complete the blank if applicable or leave blank).         
	   	   	   	   	   	   
	   	   	   	   	   	   
	   
	 [Note: If the Employer elects to satisfy the ACP safe harbor under Election 37(a)(2)a. or 37(a)(2)c.(i), then as to any and all Matching  Contributions, including Fixed Additional Matching Contributions and Discretionary Additional Matching Contributions: (i) the matching  rate may not increase as the Elective Deferral percentage increases; (ii) no HCE may be entitled to a greater rate of match than any  NHCE; (iii) the Employer must limit Elective Deferrals taken into account for the Additional Matching Contributions to a maximum of  6% of Plan Year Compensation; (iv) the Plan must apply all Matching Contributions to Catch-Up Deferrals; and (v) in the case of a  Discretionary Additional Matching Contribution, the contribution amount may not exceed 4% of the Participant's Plan Year  Compensation.]             
	   
	 (i) [   ] Multiple Safe Harbor Contributions in disaggregated Plan. The Employer elects to make different Safe Harbor 
	   	   	 Contributions and/or Additional Matching Contributions to disaggregated parts of its Plan under Treas. Reg. §1.401(k)- 
	   	   	 1(b)(4) as follows: _________________________________________        
	   	   	 (Specify contributions for disaggregated plans, e.g., as to Collectively Bargained Employees a 3% Nonelective Safe Harbor 
	   	   	 Contribution applies and as to non-Collectively Bargained Employees, the Basic Matching Contribution applies). 
	   
	 31. ALLOCATION CONDITIONS (3.06(B)/(C)). The Plan does not apply any allocation conditions to: (i) Elective Deferrals; (ii) Safe 
	 Harbor Contributions; (iii) commencing as of the Final 401(k) Regulations Effective Date, Additional Matching Contributions which will 
	 satisfy the ACP test safe harbor; (iv) Employee Contributions; (v) Rollover Contributions; (vi) Designated IRA Contributions; (vii) 
	 SIMPLE Contributions; or (viii) Prevailing Wage Contributions, except as may be required by the Prevailing Wage Contract. To receive an 
	 allocation of Matching Contributions, Nonelective Contributions or Participant forfeitures, a Participant must satisfy the following 
	 allocation condition(s) (Choose one of (a) or (b). Choose (c) if applicable): 	   	   	   	   
	   
	 (a) 	   	 [   ] No conditions. No allocation conditions apply to Matching Contributions, to Nonelective Contributions or to forfeitures. 
	   
	 (b) 	   	 [X] Conditions. The following allocation conditions apply to the designated Contribution Type and/or forfeitures (Choose one or 
	   	   	 more of (1) through (7) as applicable): 	   	   	   	   
	 
	 [Note: For this Election 31, except as the Employer describes otherwise in Election 31(b)(7) or as provided in Sections 3.03(C)(2) and  3.04(C)(2) regarding Operational QMACs and Operational QNECs, Matching includes all Matching Contributions and Nonelective  includes all Nonelective Contributions to which allocation conditions may apply. The Employer under Election 31(b)(7) may not impose an  Hour of Service condition exceeding 1,000 Hours of Service in a Plan Year.]         

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 18

  Nonstandardized 401(k) Plan 

															
	  	  	  	  	  	  	 (1)	  	  	  	 (2)	  	 (3)	  	 (4)
	  	  	  	  	  	  	 Matching,	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	 Nonelective	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	 andForfeitures	  	  	  	 Matching	  	 Nonelective	  	 Forfeitures
	 (1)	  	 [  ]	  	 None.	  	 N/A	  	  	  	 [  ]	  	 [  ]	  	 [  ]
	  	  	  	  	  	  	 (See Election	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	 31(a))	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (2)	  	 [  ]	  	 501 HOS/terminees (91 consecutive days if	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]	  	 [  ]
	  	  	  	  	 Elapsed Time). See Section 3.06(B)(1)(b).	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (3)	  	 [  ]	  	 Last day of the Plan Year.	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]	  	 [  ]
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (4)	  	 [X]	  	 Last day of the Election 31(c) time period.	  	 [  ]	  	 OR	  	 [X]	  	 [  ]	  	 [  ]
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (5)	  	 [  ]	  	 1,000 HOS in the Plan Year (182 consecutive	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]	  	  
	  	  	  	  	 days in Plan Year if Elapsed Time).	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (6)	  	 [  ]	  	 (specify) HOS within the Election	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]	  	 [  ]
	  	 	  	 	 
 	 
 
	  	  	  	  	 31(c) time period, (but not exceeding 1,000
      HOS	  	  	  	  	  	  	  	  
	  	  	  	  	 in a Plan Year).	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (7)	  	 [  ]	  	 Describe conditions:	  	  	  	  	  	  	  	  	  	  
	  	 	  	 	

	  	  	  	  	 (e.g., Last day of the Plan Year as to Nonelective
      Contributions for Participating Employer "A" Participants. No
	  	  	  	  	 allocation conditions for Participating Employer
      "B" Participants).	  	  	  	  	  	  
	 
	 (c) IXI Time period. Under Section 3.06(C),
      apply Elections 31(b)(4), (b)(6) or (b)(7) to the specified contributions/forfeitures
	               based
      on each (Choose one of (1) through (5)):	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (1)	  	 [  ]	  	 Plan Year	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]	  	 [  ]
	 (2)	  	 [X]	  	 Plan Year quarter	  	 [  ]	  	 OR	  	 [X]	  	 [  ]	  	 [  ]
	 (3)	  	 [  ]	  	 Calendar month	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]	  	 [  ]
	 (4)	  	 [  ]	  	 Payroll period	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]	  	 [  ]
	 (5)	  	 [  ]	  	 Describe time period:	  	  	  	  	  	  	  	  	  	  
	  	 	  	 	 
 	 
 
	 
	 [Note: If the Employer elects 31(b)(4) or (b)(6),
      the Employer must choose (c). If the Employer elects 31(b)(7), choose (c)
      if applicable.]
	 
	 32. ALLOCATION CONDITIONS – APPLICATION/WAIVER/SUSPENSION
      (3.06(D)/(F)). Under Section 3.06(D), in the event of
	 Severance from Employment as described below, apply
      or do not apply Election 31(b) allocation conditions to the specified
	 contributions/forfeitures as follows (If the
      Employer elects 31(b), the Employer must complete Election 32. Choose one
      of (a) or (b).
	 Complete (c)):	  	  	  	  	  	  	  	  	  	  	  	  
	 
	 [Note: For this Election 32, except as the Employer
      describes otherwise in Election 31(b)(7) or as provided in Sections 3.03(C)(2)
      and
	 3.04(C)(2) regarding Operational QMACs and Operational
      QNECs, Matching includes all Matching Contributions and Nonelective
	 includes all Nonelective Contributions to which
      allocation conditions may apply.]	  	  	  	  	  	  	  	  
	 
	 (a) [X] Total waiver or application.
      If a Participant incurs a Severance from Employment on account of or
      following death,
	              Disability
      or attainment of Normal Retirement Age (Choose one of (1) or (2)):	  	  	  	  	  	  
	 	 	 
	             (1)	  	 [X]    Do not apply. Do
      not apply elected allocation conditions to Matching Contributions, to Nonelective
      Contributions or to
	  	  	          forfeitures.	  	  	  	  	  	  	  	  	  	  
	 	 	 
	             (2)	  	 [  ]    Apply. Apply
      elected allocation conditions to Matching Contributions, to Nonelective
      Contributions and to forfeitures.

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 19

 Nonstandardized 401(k)

																	
	  	  	  	  	  	  	  	  	 (1)	  	  	  	 (2)	  	 (3)	  	 (4)
	  	  	  	  	  	  	  	  	 Matching,	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	 Nonelective	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	 and Forfeitures	  	  	 	Matching	  	 Nonelective 	 	Forfeitures
	 (b) [  ] Application/waiver as to Contribution	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	  	  	 Types events. If a Participant incurs a	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 Severance from Employment, apply allocation	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 conditions except such conditions are waived
      if	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 Severance is on account of or following death,	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 Disability or attainment of Normal Retirement	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 Age as specified, and as applied to the specified	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 Contribution Types/forfeitures (Choose (1), (2),	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 and (3) as applicable):	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	 (1)	  	 [  ] 	  	 Death	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]	  	 [  ]
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	 (2)	  	 [  ] 	  	 Disability	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]	  	 [  ]
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	 (3)	  	 [  ] 	  	 Normal Retirement Age	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]	  	 [  ]
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (c) Suspension. The suspension of allocation
      conditions of Section 3.06(F) (Choose one of (1) or (2)):	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	 (1) [X] Applies. Applies as follows
      (Choose one of a., b., or c.):	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	  	  	 a.	  	 [  ] Both. Applies both to Nonelective
      Contributions and to Matching Contributions.	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	  	  	 b.	  	 [  ] Nonelective. Applies only
      to Nonelective Contributions.	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	  	  	 c.	  	 [X] Match. Applies only to Matching
      Contributions.	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	 (2) [  ] Does not apply.	  	  	  	  	  	  	  	  	  	  
	  
	 33. FORFEITURE ALLOCATION METHOD (3.07).
      The Plan Administrator will allocate a Participant forfeiture attributable
      to all
	 Contribution Types or attributable to all Nonelective
      Contributions or to all Matching Contributions as follows (Choose one
      or more of (a)
	 through (g) as applicable. Choose (e) only in
      conjunction with at least one other election):	  	  	  	  	  	  
	 [Note: Even if the Employer elects immediate
      vesting, the Employer should	  	 (1)	  	  	  	 (2)	  	 (3)
	 complete Election 33. See Section 7.07.]	  	  	  	 All	  	  	  	 Nonelective	  	 Matching
	  	  	  	  	  	  	  	  	  	  	 Forfeitures	  	  	  	 Forfeitures	  	 Forfeitures
	 (a)	  	 [  ] Additional Nonelective. Allocate
      as additional Discretionary	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]
	  	  	       Nonelective
      Contribution.	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 
	 (b)	  	 [  ] Additional Match. Allocate
      as additional Discretionary Matching	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]
	  	  	       Contribution.	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 
	 (c)	  	 [  ] Reduce Nonelective. Apply
      to Nonelective Contribution.	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (d)	  	 [X] Reduce Match. Apply to Matching
      Contribution.	  	  	  	 [X]	  	 OR	  	 [  ]	  	 [  ]
	 	 	 	 	 	 	 	 	 	 	 
	 (e)	  	 [X] Plan expenses. Pay reasonable
      Plan expenses first (See Section	  	 [X]	  	 OR	  	 [  ]	  	 [  ]
	  	  	        7.04(C)),
      then allocate in the manner described above.	  	  	  	  	  	  	  	  
	 	 	 
	 (f)	  	 [  ] Safe harbor/top-heavy exempt.
      Apply all forfeitures to Safe Harbor Contributions and Plan expenses
      in accordance with
	  	  	       Section 3.07(A)(4).	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (g)	  	 [  ] Describe:	  	  	  	  	  	  	  	  	  	  
	  	 	
      

       
	  	  	      (e.g., Forfeitures
      attributable to transferred balances from Plan X are allocated only to former
      Plan X participants.)
	  
	 34. FORFEITURE ALLOCATION TIMING (3.07(B)).
      See Sections 3.07, 5.07 and 7.07 as to when a forfeiture occurs. Once a
      forfeiture
	 occurs, this Election 34 determines the timing
      of the forfeiture allocation. The Plan Administrator will allocate a Participant's
      forfeiture
	 (Choose one or both of (a) and (b) as applicable):	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	 (1)	  	  	  	 (2)	  	 (3)
	  	  	  	  	  	  	  	  	  	  	 All	  	  	  	 Nonelective	  	 Matching
	  	  	  	  	  	  	  	  	  	  	 Forfeitures	  	  	  	 Forfeitures	  	 Forfeitures
	 (a)	  	 [X] Same Plan Year. In the same Plan
      Year in which the designated	  	 [X]	  	 OR	  	 [  ]	  	 [  ]
	  	  	        forfeiture
      occurs.	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 
	 (b)	  	 [  ] Next Plan Year. In the Plan
      Year following the Plan Year in which	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]
	  	  	       the designated
      forfeiture occurs.	  	  	  	  	  	  	  	  	  	  

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	 [Note: The elected forfeiture allocation timing
      applies irrespective of when the Employer makes its contribution(s), if
      any, for a Plan Year.	  	  
	 Even if the Employer elects immediate vesting,
      the Employer should complete Election 34. See Sections 3.07 and 7.07.]	  	  
	 	 	 
	 35. EMPLOYEE (AFTER-TAX) CONTRIBUTIONS (3.09).
      The following additional elections apply to Employee Contributions under	  	  
	 Election 6(f). (Complete (a) and (b)):	  	  	  	  
	 	 	 
	 (a) Limitations. The Plan permits Employee
      Contributions subject to the following limitations, if any, in addition
      to those already	  	  
	  	 imposed under the Plan (Choose one of (1) or (2)):	  	  
	 	 	 	 	 	 	 	 	 
	 (1)	  	  	 [  ]	  	 None. No additional limitations.	  	  
	 	 	 	 	 	 	 	 	 
	 (2)	  	  	 [  ]	  	 Additional limitations. The following additional
      limitations:	  	.
	  	 	  	  	 	
      

       	 	  
	 	 	 	 	 	 	 	 	 
	  	  	 [Note: Any designated limitation(s) must be the
      same for all Participants and must be definitely determinable.]	  	  
	 	 	 	 	 	 	 	 	 
	 (b) Matching Contributions. (Choose one
      of (1) or (2)):	  	  
	 	 	 	 	 	 	 	 	 
	  	  	 (1)	 [  ]	  	 None. The Employer will not make any Matching
      Contributions based on Employee Contributions.	  	  
	 	 	 	 	 	 	 	 	 
	 (2)	  	  	 [  ] 	  	 Applies. For each Plan Year, the Employer's
      Matching Contribution made as to Employee Contributions is:	  	  
	  	 	  	  	 	
      

       	 	
      

       
	 	 	 	 	 	 	 	 	 
	 36. DESIGNATED IRA CONTRIBUTIONS (3.12).
      Under Election 6(h), a Participant may make Designated IRA Contributions	  	  
	 effective for Plan Years beginning after _______________
      (date specified must be no earlier than December 31, 2002). (Complete
      (a) and (b)):	  	  
	 	 	 	 	 	 	 	 	 
	 (a)	  	 Type of IRA contribution. A Participant's
      Designated IRA Contributions will be (Choose one of (1), (2), or (3)):	  	  
	 	 	 	 	 	 	 	 	 
	  	  	 (1)	 1	 1	  	 Traditional.	  	  	  	  
	 	 	 	 	 	 	 	 	 
	  	  	 (2)	 1	 1	  	 Roth.	  	  	  	  
	 	 	 	 	 	 	 	 	 
	  	  	 (3)	 1	 1	  	 Traditional/Roth. As the Participant elects
      at the time of contribution.	  	  
	 	 	 	 	 	 	 	 	 
	 (b)	  	 Type of Account. A Participant's Designated
      IRA Contributions will be held in the following form of Account(s) (Choose
      one of (1),
	  	  	 (2), or (3)):    	  	  
	 	 	 	 	 	 	 	 	 
	 (1)	  	  	 1	 1	  	 IRA.	  	  	  	  
	 	 	 	 	 	 	 	 	 
	 (2)	  	  	 1	 1	  	 Individual Retirement Annuity.	  	  
	 	 	 	 	 	 	 	 	 
	 (3)	  	  	 1	 1	  	 IRA/Individual Retirement Annuity. As the
      Participant elects at the time of contribution.	  	  

 ARTICLE IV

LIMITATIONS AND TESTING

				
	 [Note: The Employer, in the "Effective as of
      execution" column under Election 37, must elect those testing elections
      which are: (i) in
	 effect as of date of the Employer's execution
      of this Adoption Agreement; and (ii) if the Adoption Agreement restates
      the Plan, also
	 are retroactive to the later of the Plan's original
      Effective Date or EGTRRA restated Effective Date, except as indicated in
      Appendix A. If
	 the Employer wishes to change any testing election
      after it executes this Adoption Agreement, the Employer must
      elect the changes in the
	 "Changes post-execution" column under Election
      37, and the Employer must specify the Plan Year Effective Date(s) of any
      changed
	 election. The Employer may complete the Effective
      Date blanks specifying the changed election applies to a single Plan Year
      (e.g., "2011
	 only"), or a range of Plan Years (e.g., "2011-2015")
      or may specify the change as becoming effective in a specified Plan Year
      (e.g.,
	 "commencing 2010"). If the Employer specifies
      a single Plan Year only or specifies a range of Plan Years, the Plan becomes
      subject to the
	 election in the "Effective as of execution" column
      in the Plan Years commencing after the specified Year(s), unless the Employer
	 subsequently changes the election. If the Employer
      specifies the change as commencing in a Plan Year, the election applies
      in the
	 specified Plan Year and in all following Plan
      Years unless the Employer subsequently changes the election.]	  	  
	  
	 37. ANNUAL TESTING ELECTIONS (4.06(B)). The
      Employer makes the following Plan specific annual testing elections under
	 Section 4.06(B). (Complete (a) and (b)):	  	  
	  
	 	 (1)	  	 (2)
	 	 Effective as of execution	  	 Changes post-execution
	 	 (and retroactively	  	 (specify Plan Year
	 	 ifrestatement)	  	 Effective Date(s))
	  
	(a) Nondiscrimination testing. (Choose one or more
      of (1), (2), or (3)):	  	  	  
	  
	             (1)
      [X] Traditional 401(k) Plan/ADP/ACP test.	 	  	  
	                                     The
      following testing method(s) apply	 	  	  
	                                     (Choose
      a. and b. as applicable):	 	  	  
	  
	[Note: The Plan may "split test" for Plan Years commencing
      in 2005.]	  	  	  

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	 a.	  	 [X] Current Year Testing. See Section 4.11(E).	  	  	  	  
	  	  	  	  	 Current Year Testing applies to the ADP/ACP tests	  	  	  	  
	  	  	  	  	 as elected below (Choose one or both of (i) and (ii)):	  	  	  	  
	 	 	 	 	 	 	 	 	 
	  	  	 (i)	  	 [X] ADP test.	  	 [X]	  	 [  ] Effective Date(s):
	  	 	  	 	  	 	  	 	
      

       
	  
	  
	  	  	 (ii)	  	 [X] ACP test.	  	 [X]	  	 [  ] Effective Date(s):
	  	 	  	 	  	 	  	 	
      

       
	  
	  
	 [Note: The Employer may leave (ii) blank if the Plan does
      not permit Matching Contributions or Employee Contributions and the Plan
	 Administrator will not recharacterize Elective Deferrals
      as Employee Contributions for testing.]	  	  
	  
	 b.	  	 [  ] Prior Year Testing. See Section 4.11(I).	  	  	  	  
	  	  	 Prior Year Testing applies to the ADP/ACP tests
      as	  	  	  	  
	  	  	 elected below. See Sections 4.10(B)(4)(f)(iv) and	  	  	  	  
	  	  	 4.10(C)(5)(e)(iv) as to the first Plan Year. (Choose	  	  	  	  
	  	  	 one or both of (i) and (ii)):	  	  	  	  
	  
	  	  	 (i)     [  ] ADP
      test.	  	 [  ]	  	 [  ] Effective Date(s):
	  	 	  	 	  	 	  	 	
      

       
	  
	  
	  	  	 (iii)  [  ] ACP test.	  	 [  ]	  	 [  ] Effective Date(s):
	  	 	  	 	  	 	
      

       
	  
	  
	 [Note: The Employer may leave (ii) blank if the Plan does
      not permit Matching Contributions or Employee Contributions and the Plan
	 Administrator will not recharacterize Elective Deferrals
      as Employee Contributions for testing.]	  	  
	  
	           (2) [  ] Safe Harbor Plan/No testing or
      ACP test only.	  	  	  	  
	  	  	 (Choose one of a., b., or c.):	  	  	  	  
	  
	 a.	  	 [  ] No testing.	  	 [  ]	  	 [  ] Effective Date(s):
	  	  	 ADP test safe harbor applies and if applicable,	  	  	  	  
	  	  	 ACP test safe harbor applies.	  	  	  	  
	  
	 b.	  	 [  ] ACP test only.	  	  	  	  
	  	  	 ADP test safe harbor applies, but Plan will perform	  	  	  	  
	  	  	 ACP test as follows (Choose one of (i) or (ii)):	  	  	  	  
	  
	  	  	 (i)    [  ] Current Year
      Testing.	  	 [  ]	  	 [  ] Effective Date(s):
	  	 	  	 	  	 	  	 	
      

       
	  
	  
	  	  	 (iii) [  ] Prior Year Testing.	  	 [  ]	  	 [  ] Effective Date(s):
	  	 	  	 	  	 	
      

       
	  
	  
	 [Note: The Employer may elect Prior Year Testing under Election
      37(a)(2)b.(ii) only for Plan Years after the Final 401(k) Regulations
	 Effective Date.]        
	  
	 c.	  	 [  ] Possible delayed election.	  	 [  ]	  	 [  ] Effective Date(s):
	  	  	         (maybe
      notice/supplemental notice)	  	  	  	  
	  
	  	  	 The Employer under Section 3.05(I)(1) may treat
      the Plan as a Traditional 401(k) Plan or may make a delayed election to
	  	  	 treat the Plan as a Safe Harbor 401(k) Plan. If
      the Employer gives the maybe and supplemental notices and amends the Plan
	  	  	 to provide for the Safe Harbor Nonelective Contribution,
      the Plan is an ADP test safe harbor plan for the Plan Year to which
	  	  	 the maybe and supplemental notices and the amendment
      apply. If the Employer does not give the supplemental notice, the
	  	  	 Plan is a Traditional 401(k) Plan, subject to ADP
      Current Year Testing and, if applicable, to ACP Current Year Testing. If
	  	  	 the Employer gives the supplemental notice and amends
      the Plan to provide for the Safe Harbor Nonelective Contribution,
	  	  	 and the Employer has elected Additional Matching
      Contributions under Election 30(h) (Choose one of (i) or (ii)):
	  
	  	  	 (i)	[  ]  	 No testing. ADP and ACP test safe harbors
      apply. The Employer's elections under 30(h) as to Additional
	  	  	  	  	 Matching Contributions satisfy the ACP safe harbor
      requirements and the Employer elects to apply the
	  	  	  	  	 Election 30(h) stated ACP test safe harbor conditions
      (see the Note following Election 30(h)) as to all
	  	  	  	  	 Additional Matching Contributions.	  	  	  	  
	  
	  	  	 (ii)	[  ]  	 ACP test only. ADP safe harbor applies, but
      the Plan will perform the ACP test as to all Additional
	  	  	  	  	 Matching Contributions using Current Year Testing.	  	  	  	  
	  
	  	  	 [Note: Even if the Employer does not elect 37(a)(2)c.,
      the Employer still may make a delayed election into safe harbor status
	  	  	 under Section 3.05(I)(1) using the maybe and
      supplemental notices and by amending the plan to provide for the Safe Harbor
	  	  	 Nonelective Contribution. However, in this case,
      the Employer also must amend the Plan to make its testing elections under
	  	  	 this Election 37 consistent with its delayed
      election into safe harbor status. The Employer then may elect any election
      under
	  	  	 37(a)(2), including 37(a)(2)c. An Employer's
      election of 37(a)(2)c. permits the Plan to remain in perpetual possible
      delayed
	  	  	 safe harbor election status, while minimizing
      the number of Plan amendments required to do so.]

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	         (3)
      [  ] SIMPLE 401(k) Plan/No testing.	  	 [  ]	  	 [  ] Effective Date(s):
	  	 	  	 	

	  
	 (b) BCE determination. (Complete both (1) and (2)):	  	  	  	  
	         (1)
      Top-paid group election. (Choose one of a. or b.):	  	  	  	  
	 a.	  	 [X] Does not apply.	  	 IXI	  	 [  ] Effective Date(s):
	  	 	  	 	  	 	

	  
	 b.	  	 [  ] Applies.	  	 [  ]	  	 [  ] Effective Date(s):
	  	 	  	 	  	 	

	  
	         (2) Calendar year data election (fiscal year Plan only).	  	  	  	  
	               (Choose one of a. or b.):	  	  	  	  
	 a.	  	 [X] Does not apply.	  	 IXI	  	 [  ] Effective Date(s):
	  	 	  	 	  	 	

	  
	 c.	  	 [  ] Applies.	  	 [  ]	  	 [  ] Effective Date(s):

 ARTICLE V

VESTING REQUIREMENTS

							
	 38. NORMAL RETIREMENT AGE (5.01).
      A Participant attains Normal Retirement Age under the Plan on the following
      date (Choose
	 one of (a) or (b)):	  	  
	 	 	 	 	 
	 (a)	  	 [X] Specific age. The date the Participant
      attains age 65 . [Note: The age may not exceed age 65.]	  	  
	 	 	 
	 (b)	  	 [  ] Age/participation. The later of the date
      the Participant attains age______or the______ anniversary of the first day
      of the Plan
	  	  	         Year
      in which the Participant commenced participation in the Plan. [Note:
      The age may not exceed age 65 and the anniversary
	  	  	         may
      not exceed the 5th.]	  	  
	 	 	 
	 39. EARLY RETIREMENT AGE (5.01). (Choose
      one of (a) or (b)):	  	  
	  	 	  
	 (a)	  	 [X] Not applicable. The Plan does not provide
      for an Early Retirement Age.	  	  
	 	 	 	 	 
	 (b)	  	 [  ] Early Retirement Age. Early Retirement
      Age is the later of: (i) the date a Participant attains age	  	 ; (ii) the date a
	  	  	         Participant
      reaches his/her______anniversary of the first day of the Plan Year in which
      the Participant commenced
	  	  	         participation
      in the Plan; or (iii) the date a Participant completes_______Years of Service.	  	  
	 	 	 
	 [Note: The Employer should leave blank any of
      clauses (i), (ii), and (iii) which are not applicable.]	  	  
	 "Years of Service" under this Election 39 means
      (Choose one of (1) or (2) as applicable):	  	  
	 	 	 	 	 	 	 
	  	  	 (1)	  	 [  ] Eligibility. Years of Service for eligibility in
      Election 16.	  	  
	  	  	 (2)	  	 [  ] Vesting. Years of Service for vesting in Elections
      42 and 43.	  	  
	 
	 [Note: Election of an Early Retirement Age does
      not affect the time at which a Participant may receive a Plan distribution.
      However, a
	 Participant becomes 100% vested at Early Retirement
      Age.]	  	  
	 
	 40. ACCELERATION ON DEATH OR DISABILITY (5.02).
      Under Section 5.02, if a Participant incurs a Severance from
	 Employment as a result of death or Disability (Choose
      one of (a), (b), or (c)):	  	  
	 	 	 	 	 
	 (a)	  	 [X] Applies. Apply 100% vesting.	  	  
	 	 	 
	 (b)	  	 [  ] Not applicable. Do not apply 100% vesting.
      The Participant's vesting is in accordance with the applicable Plan vesting
	  	  	      schedule.	  	  
	 (c)	  	 [  ] Limited application. Apply 100% vesting,
      but only if a Participant incurs a Severance from Employment as a result
      of
	  	  	     (Choose one of (1)
      or (2)):	  	  
	 	 	 	 	 	 	 
	  	  	 (1)	  	 [  ] Death.	  	  
	 	 	 	 	 	 	 
	  	  	 (2)	  	 [  ] Disability.	  	  

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	 41. VESTING SCHEDULE (5.03). A Participant
      has a 100% Vested interest at all times in his/her Accounts attributable
      to: (i) Elective
	 Deferrals; (ii) Employee Contributions; (iii) QNECs;
      (iv) QMACs; (v) Safe Harbor Contributions; (vi) SIMPLE Contributions; (vii)
	 Rollover Contributions; (viii) Prevailing Wage
      Contributions unless the Prevailing Wage Contract provides otherwise; (ix)
      DECs; and (x)
	 Designated IRA Contributions. The following vesting
      schedule applies to Regular Matching Contributions, to Additional Matching
	 Contributions (irrespective of ACP testing status)
      and to Nonelective Contributions (other than Prevailing Wage Contributions)
      (Choose
	 (a) or choose one or both of (b) and (d) as
      applicable. Choose (c) if elect a non-top-heavy schedule under (b) or (d)):	  	  
	  
	 (a) [  ] Immediate vesting. 100% Vested at
      all times in all Accounts.	  	  	  	  	  	  	  	  
	  
	 [Note: Unless all Contribution
      Types are 100% Vested, the Employer should not elect 41(a). If the Employer
      elects immediate vesting
	 under 41(a), the Employer should not complete
      the balance of Election 41 or Elections 42 and 43 (except as noted therein).
      The Employer
	 must elect 41(a) if the eligibility Service
      condition under Election 14 as to all Contribution Types (except
      Elective Deferrals and Safe
	 Harbor Contributions) exceeds one Year of Service
      or more than 12 months. The Employer must elect 41(b)(1) as to any Contribution
      Type
	 where the eligibility service condition exceeds
      one Year of Service or more than 12 months. The Employer should elect 41(b)
      if any
	 Contribution Type is subject to a vesting schedule.]	  	  	  	  	  	  	  	  	  	  
	  
	 (b) [X] Vesting schedules: Apply the following
      vesting schedules (Choose one or more of (1) through (7) as applicable):
	  
	  	  	  	  	  	  	  	  	 (1)	  	  	  	 (2)	  	 (3)	  	 (4)
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 Additional
	  	  	  	  	  	  	  	  	 All	  	  	  	  	  	 Regular	  	 Matching (See
	  	  	  	  	  	  	  	  	 Contributions	  	  	  	 Nonelective	  	 Matching	  	 Section 3.05(F))
	  
	 (1)	  	 [  ]	  	 Immediate vesting	  	  	  	 N/A	  	  	  	 [  ]	  	 [  ]	  	 [  ]
	  	  	  	  	  	  	  	 	(See Election 41(a))	  	  	  	  	  	  	  	  
	  
	 (2)	  	 [  ]	  	 Top-heavy: 6-year graded	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]	  	 [  ]
	  
	 (3)	  	 [  ]	  	 Top-heavy: 3-year cliff	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]	  	 [  ]
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (4)	  	 [X] Modified top-heavy:	  	 [  ]	  	 OR	  	 [  ]	  	 IXI	  	 [  ]
	  	  	  	  	 Years of Service Vested %	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 Less than 1	  	 a. 0%	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 1	  	 b. 34%	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 2	  	 c. 67%	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 3	  	 d 100%	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 4	  	 e.	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 5	  	 f.	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 6 or more	  	 100%	  	  	  	  	  	  	  	  	  	  
	 (5)	  	 [  ]	  	 Non-top-heavy: 7-year graded	  	 N/A	  	  	  	 [  ]	  	 N/A	  	 N/A
	  
	 (6)	  	 [  ]	  	 Non-top-heavy: 5-year cliff	  	 N/A	  	  	  	 [  ]	  	 N/A	  	 N/A
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (7)	  	 [  ]	  	 Modified non-top-heavy:	  	 N/A	  	  	  	 [  ]	  	 N/A	  	 N/A
	  	  	  	  	 Years of Service Vested %	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 Less than 1	  	 a. ____	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 1	  	 b. ____	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 2	  	 c. ____	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 3	  	 d. ____	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 4	  	 e. ____	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 5	  	 f. ____	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 6	  	 g. ____	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	 7 or more	  	 100%	  	  	  	  	  	  	  	  	  	  
	 
	 [Note: If the Employer does not elect 41(a),
      the Employer under 41(b) must elect immediate vesting or must elect a top-heavy
      or modified
	 top-heavy vesting schedule. The modified top-heavy
      schedule of Election 41(b)(4) must satisfy Code §416. A top-heavy schedule
      must
	 apply to Regular Matching Contributions and
      to Additional Matching Contributions. See Section 5.03(A)(1). The Employer
      as to Nonelective
	 Contributions only may elect one of Elections
      41(b)(5), (6), or (7) in addition to electing a top-heavy schedule. The
      Employer must
	 complete Election 41(c) if it elects any non-top-heavy
      schedule. If the Employer does not elect a non-top-heavy schedule, the elected
	 top-heavy schedule(s) applies to all Plan Years.
      If the Employer elects 41(b)(7), the modified non-top-heavy schedule must
      satisfy Code
	 §411(a)(2). If the Employer elects
      Additional Matching under Election 30(h), the Employer should elect vesting
      under the Additional
	 Matching column in this Election 41(b). That
      election applies to the Additional Matching even if the Employer has given
      the maybe notice
	 but does not give the supplemental notice for
      any Plan Year and as to such Plan Years, the Plan is not a safe harbor plan
      and the Matching
	 Contributions are not Additional Matching Contributions.
      If the Plan's Effective Date is after December 31, 2006, do not complete
	 Elections 41(b)(5), (b)(6), or (b)(7).]	  	  	  	  	  	  	  	  	  	  	  	  
	  
	 (c) [  ] Nonelective Contributions: application
      of top-heavy schedule (Choose one of (1) or (2)):	  	  	  	  
	  
	  	  	 (1) [  ] Apply in all Plan Years once top-heavy.
      Apply the top-heavy vesting schedule under Election 41(b) for the first
      Plan
	  	  	  	  	 Year in which the Plan is top-heavy and then in
      all subsequent Plan Years.	  	  	  	  

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	  	  	 (2) [  ] Apply only in top-heavy Plan Years. Apply
      the non-top-heavy schedule under Election 41(b) in all Plan Years in which	  	  
	  	  	  	  	 the Plan is not a top-heavy plan.	  	  
	 	 	 	 	 
	 (d) [  ] Special vesting provisions:	  	  	  	 .
	  	 	  	 	  
	 [Note: The Employer under Election 41(d) may
      describe special vesting provisions from the elections available under Election
      41 and/or a	  	  
	 combination thereof as to a: (i) Participant
      group (e.g., Full vesting applies to Division A Employees OR to Employees
      hired on/before "x"	  	  
	 date. 6-year graded vesting applies to Division
      B Employees OR to Employees hired after "x" date.); and/or (ii) Contribution
      Type (e.g.,	  	  
	 Full vesting applies as to Discretionary Nonelective
      Contributions. 6-year graded vesting applies to Fixed Nonelective Contributions).
      Any	  	  
	 special vesting provision must satisfy Code §411(a)
      and must be nondiscriminatory.]	  	  
	 	 	 
	 42. YEAR OF SERVICE - VESTING
      (5.05). (Complete both (a) and (b)):	  	  
	  	 	  
	 [Note: If the Employer elects the Elapsed Time
      Method for vesting the Employer should not complete this Election 42. If
      the Employer elects
	 immediate vesting, the Employer should not complete
      Election 42 or Election 43 unless it elects to apply a Year of Service for
      vesting under
	 any other Adoption Agreement election.]	  	  	  	  
	 	 	 	 	 	 	 	 	 
	 (a)	  	 Year of Service. An Employee must complete
      at least 1,000 Hours of Service during a Vesting Computation Period to receive	  	  
	  	  	 credit for a Year of Service under Article V. [Note:
      The number may not exceed 1,000. If left blank, the requirement is 1,000.]	  	  
	 	 	 	 	 	 	 	 	 
	 (b)	  	 Vesting Computation Period. The Plan measures
      a Year of Service based on the following 12-consecutive month period (Choose one of (1) or (2)):	  	  
	 	 	 	 	 	 	 	 	 
	  	  	 (1)	  	 [X] Plan Year.	  	  	  	  
	 	 	 	 	 	 	 	 	 
	  	  	 (2)	  	 [  ] Anniversary Year.	  	  	  	  
	 	 	 	 	 	 	 	 	 
	 43. EXCLUDED YEARS OF SERVICE - VESTING (5.05(C)).
      The Plan excludes the following Years of Service for purposes of	  	  
	 vesting (Choose (a) or choose one or more of
      (b) through (e) as applicable):	  	  
	 	 	 	 	 	 	 	 	 
	 (a)	  	 [X] None. None other than as specified in
      Section 5.05(C)(1).	  	  
	 	 	 	 	 	 	 	 	 
	 (b)	  	 [  ] Age 18. Any Year of Service before the
      Vesting Computation Period during which the Participant attained the age
      of 18.	  	  
	 	 	 	 	 	 	 	 	 
	 (c)	  	 [  ] Prior to Plan establishment. Any Year
      of Service during the period the Employer did not maintain this Plan or
      a predecessor	  	  
	  	  	  	  	 plan.	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 
	 (d)	  	 [  ] Rule of Parity. Any Year of Service excluded
      under the rule of parity. See Plan Section 5.06(C).	  	  
	 	 	 	 	 	 	 	 	 
	 (e)	  	 [  ] Additional exclusions. The following
      Years of Service:	  	 .
	 	 	 	 	 	 	 	 	 
	 [Note: The Employer under Election 43(e) may
      describe vesting service exclusions provisions available under Election
      43 and/or a combination	  	  
	 thereof as to a: (i) Participant group (e.g.,
      No exclusions apply to Division A Employees OR to Employees hired on/before
      "x" date. The age
	 18 exclusion applies to Division B Employees
      OR to Employees hired after "x" date.); or (ii) Contribution Type (e.g.,
      No exclusions apply as to
	 Discretionary Nonelective Contributions. The
      age 18 exclusion applies to Fixed Nonelective Contributions). Any exclusion
      specified under	  	  
	 Election 43(e) must comply with Code §411(a)(4).
      Any exclusion must be nondiscriminatory.]	  	  
	 	 	 	 	 	 	 	 	 
	 ARTICLEVI
	 DISTRIBUTION OF ACCOUNT BALANCE
	 	 	 	 	 	 	 	 	 
	 44. MANDATORY DISTRIBUTION (6.01(A)(1)/6.08(D)).
      The Plan provides or does not provide for Mandatory Distribution of a	  	  
	 Participant's Vested Account Balance following Severance
      from Employment, as follows (Choose one of (a) or (b)):	  	  
	 	 	 	 	 	 	 	 	 
	 (a)	  	 [  ] No Mandatory Distribution. The Plan will
      not make a Mandatory Distribution following Severance from Employment.	  	  
	 	 	 	 	 	 	 	 	 
	 (b)	  	 [X] Mandatory Distribution. The Plan will
      make a Mandatory Distribution following Severance from Employment. (Complete	  	  
	  	  	  	  	 (1) and (2). Choose (3) unless the Employer elects
      to limit Mandatory Distributions to $1,000 including Rollover Contributions under Elections 44(b)(1)b. and 44(b)(2)b.):	  	  
	 	 	 	 	 	 	 	 	 
	  	  	 (1) Amount limit. As to a Participant who
      incurs a Severance from Employment and who will receive distribution before
      attaining
	  	  	  	  	 the later of age 62 or Normal Retirement Age, the
      Mandatory Distribution maximum amount is equal to (Choose one of a.,
      b., or c.):
	 	 	 	 	 	 	 	 	 
	  	  	  	  	 a.	  	 [X] $5,000.	  	  	  	  
	 	 	 	 	 	 	 	 	 
	  	  	  	  	 b.	  	 [  ] $1,000.	  	  	  	  
	 	 	 	 	 	 	 	 	 
	  	  	  	  	 c.	  	 [  ] Specify amount: $_____ (may
      not exceed $5,000).	  	  
	 	 	 	 	 	 	 	 	 
	  	  	 (2) Application of Rollovers to amount limit.
      In determining whether a Participant's Vested Account Balance exceeds
      the	  	  
	  	  	  	  	 Mandatory Distribution dollar limit in Election
      44(b)(1), the Plan (Choose one of a. or b.):	  	  
	 	 	 	 	 	 	 	 	 
	  	  	  	  	 a.	  	 [X] Disregards Rollover Contribution Account.	  	  
	 	 	 	 	 	 	 	 	 
	  	  	  	  	 b.	  	 [  ] Includes Rollover Contribution Account.	  	  

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	  	  	 (3) [X] Amount of Mandatory Distribution subject
      to Automatic Rollover. A Mandatory Distribution to a Participant before
	  	  	  	  	  	  	 attaining the later of age 62 or Normal Retirement
      Age is subject to Automatic Rollover under Section 6.08(D) (Choose
	  	  	  	  	  	  	 one of a. or b.):	  	  	  	  	  	  	  	  
	  
	  	  	  	  	 a.	  	 [X] Only if exceeds $1,000. Only if
      the amount of the Mandatory Distribution exceeds $1,000, which for this
      purpose
	  	  	  	  	  	  	  	 must include any Rollover Contributions Account.	  	  	  	  
	  
	  	  	  	  	 b.	  	 [  ] Specify lesser amount. Only if the amount
      of the Mandatory Distribution is at least: $____ (specify $1,000
      or
	  	  	  	  	  	  	  	 less). 	  	  	  	  
	  
	 45. SEVERANCE DISTRIBUTION TIMING (6.01).
      Subject to the timing limitations of Section 6.01(A)(1) in the case of a
      Mandatory
	 Distribution, or in the case of any Distribution
      Requiring Consent under Section 6.01(A)(2), for which consent is received,
      the Plan
	 Administrator will instruct the Trustee to distribute
      a Participant's Vested Account Balance as soon as is administratively practical
	 following the time specified below (Choose one
      or more of (a) through (k) as applicable):	  	  
	 [Note: If a Participant dies after Severance
      from Employment but before receiving distribution of all of his/her Account,
      the elections under
	 this Election 45 no longer apply. See Section
      6.01(B) and Election 49.]	  	  	  	  
	  
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 (1)	  	 (2)
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 Mandatory	  	 Distribution
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 Distribution	  	 Requiring Consent
	  
	 (a)	  	 [X]	  	 Immediate. Immediately following Severance
      from Employment.	  	 [X]	  	 [X]
	 	 	 	 	 	 	 	 	 
	 (b)	  	 [  ]	  	 Next Valuation Date. After the next Valuation
      Date following Severance	  	 [  ]	  	 [  ]
	  	  	  	  	 from Employment.	  	  	  	  	  	  	  	  
	  
	 (c)	  	 [  ]	  	 Plan Year. In the                Plan
      Year following Severance from	  	 [  ]	  	 [  ]
	  	 	  	 	 
 	
	 
 	 	  	 	  
	  	  	  	  	 Employment (e.g., next or fifth).	  	  	  	  	  	  
	 (d)	  	 [  ]	  	 Plan Year quarter. In the Plan Year quarter
      following	  	 [  ]	  	 [  ]
	  	 	  	 	 
 	
	 
 	 	  	 	  
	  	  	  	  	 Severance from Employment (e.g., next or fifth).	  	  	  	  
	 	 	 	 	 	 	 	 	 
	 (e)	  	 [  ]	  	 Contribution Type Accounts.            as
      to the	  	 [  ]	  	 [  ]
	  	 	  	 	 
 	
	 
 	 	  	 	  
	  	  	  	  	 Participant's                                 Account(s)
      and                as
      to	  	  
	  	 	  	 	 
 	
	 
 	
	 
 	 	 	 	  
	  	  	  	  	 the Participant's                Account(s)
      (e.g., As soon as is practical	  	  
	  	 	  	 	 
 	
	 
	
	 
 	 	 	 	  
	  	  	  	  	 following Severance from Employment as to the
      Participant's Elective	  	  	  	  
	  	  	  	  	 Deferral Account and as soon as is practical
      in the next Plan Year following	  	  	  	  
	  	  	  	  	 Severance from Employment as to the Participant's
      Nonelective and	  	  	  	  
	  	  	  	  	 Matching Accounts).	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 
	 (f)	  	 [  ] Vesting controlled timing. If the Participant's
      total	  	 [  ]	  	 [  ]
	  	  	  	  	 Vested Account Balance exceeds $                 ,	  	  	  	  
	  	  	  	  	 distribute ____________(specify timing) and
      if	  	  	  	  
	  	  	  	  	 the Participant's total Vested Account Balance does
      not	  	  	  	  
	  	  	  	  	 exceed $ ____________, distribute______________(specify
      timing).	  	  	  	  
	  
	 (g) [  ] Distribute at Normal Retirement Age.
      As to a Mandatory	  	 [  ]	  	 [  ]
	  	  	  	  	 Distribution, distribute not later than 60 days
      after the	  	  	  	  
	  	  	  	  	 beginning of the Plan Year following the Plan Year
      in	  	  	  	  
	  	  	  	  	 which the previously severed Participant attains
      the	  	  	  	  
	  	  	  	  	 earlier of Normal Retirement Age or age 65. [Note:
      An	  	  	  	  
	  	  	  	  	 election under column (2) only will have effect
      if the	  	  	  	  
	  	  	  	  	 Plan's NRA is less than age 62.]	  	  	  	  	  	  
	  
	 (h) [  ] Acceleration. Notwithstanding any
      later specified distribution date in	  	 [  ]	  	 [  ]
	  	  	  	  	 Election 45, a Participant may elect an earlier
      distribution	  	  	  	  
	  	  	  	  	 following Severance from Employment (Choose
      (1) and (2) as applicable):	  	  
	  
	  	  	 (1)	  	 [  ] Disability. If Severance from Employment
      is on account of Disability or if	  	  
	  	  	  	  	  	  	 the Participant incurs a Disability following Severance
      from Employment.	  	  
	  
	  	  	 (2)	  	 [  ] Hardship. If the Participant incurs a
      hardship under Section 6.07	  	  	  	  
	  	  	  	  	  	  	 following Severance from Employment.	  	  	  	  
	  
	 (i) [  ] Required distribution at Normal Retirement
      Age. A severed Participant	  	 N/A	  	 [  ]
	  	  	  	  	 may not elect to delay distribution beyond the later
      of age 62 or Normal	  	  	  	  
	  	  	  	  	 Retirement Age.	  	  	  	  	  	  	  	  
	  
	 (j)	  	 [  ] No buy-back/vesting controlled timing.	  	 [  ]	  	 [  ]
	  	  	  	  	 Distribute as soon as is practical following Severance	  	  	  	  
	  	  	  	  	 from Employment if the Participant is fully Vested.	  	  	  	  

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	  	  	 Distribute as soon as is practical following a Forfeiture	  	  	  	  	  	  	  	  	  	  
	  	  	 Break in Service if the Participant is not fully
      Vested.	  	  	  	  	  	  	  	  	  	  
	  
	 (k) [  ] Describe Severance from Employment distribution
      timing:	  	  	  	  	  	  	  	  
	  	
      

             
	 [Note: The Employer under Election 45(k) may
      describe Severance from Employment distribution timing provisions from the
      elections
	 available under Election 45 and/or a combination
      thereof as to any: (i) Participant group (e.g., Immediate distribution after
      Severance of
	 Employment applies to Division A Employees OR
      to Employees hired on/before "x" date. Distribution after the next Valuation
      Date
	 following Severance from Employment applies
      to Division B Employees OR to Employees hired after "x" date.); (ii) Contribution
      Type
	 (e.g., As to Division A Employees, immediate
      distribution after Severance of Employment applies as to Elective Deferral
      Accounts and
	 distribution after the next Valuation Date following
      Severance from Employment applies to Nonelective Contribution Accounts);
      and/or
	 (iii) merged plan account now held in the Plan
      (e.g., The accounts from the X plan merged into this Plan continue to be
      distributable in
	 accordance with the X plan terms [supply terms]
      and not in accordance with the terms of this Plan). An Employer's election
      under Election
	 45(k) must: (i) be objectively determinable;
      (ii) not be subject to Employer discretion; (iii) comply with Code §401(a)(14)
      timing
	 requirements; (iv) be nondiscriminatory and (v) preserve
      Protected Benefits as required.]	  	  	  	  	  	  	  	  
	  
	  	  	 46. IN-SERVICE DISTRIBUTIONS/EVENTS (6.01(C)).
      A Participant may elect an In-Service Distribution of the designated
	  	  	 Contribution Type Accounts based on any of the following events
      in accordance with Section 6.01(C) (Choose one of (a) or (b)):
	 
	 [Note: If the Employer elects any In-Service Distribution
      option, a Participant may elect to receive as many In-Service Distributions
      per
	 Plan Year (with a minimum of one per Plan Year) as the
      Plan Administrator's In-Service Distribution form or policy may permit.
      If the
	 form or policy is silent, the number of In-Service Distributions
      is not limited. Prevailing Wage Contributions are treated as Nonelective
	 Contributions unless the Prevailing Wage Contract provides
      otherwise. See Section 6.01(C)(4)(d) if the Employer elects to use Prevailing
	 Wage Contributions to offset other contributions.]	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  
	 (a)	  	 [  ] None. The Plan does not permit any In-Service Distributions
      except as to any of the following (if applicable): (i) RMDs under
	  	  	 Section 6.02; (ii) Protected Benefits; and (iii) under Section
      6.01(C)(4) as to Employee Contributions, Rollover Contributions,
	  	  	 DECs, Transfers, and Designated IRA Contributions.	  	  	  	  	  	  	  	  	  	  
	  
	 (b)	  	 [X] Permitted. In-Service Distributions are permitted
      as follows from the designated Contribution Type Accounts (Choose one
      or
	  	  	 more of (1) through (9)):	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	 	 	 
	 [Note: Unless the Employer elects otherwise
      in Election 46(b)(9), Elective Deferrals under Election 46(b) includes Pre-Tax
      and Roth	  	  
	 Deferrals and Matching Contributions includes
      Additional Matching Contributions, irrespective of the Plan's ACP testing
      status.]
	  
	  	  	  	  	  	 (1)	  	  	  	 (2)	  	 (3)	  	 (4)	  	 (5)	  	 (6)	  	 (7)
	  	  	  	  	  	 All	  	  	  	 Elective	  	 Safe Harbor	  	QNECs 	  	QMACs 	  	 Matching 	 	Nonelective/
	  	  	  	  	 	Contributions	  	  	  	 Deferrals 	 	Contributions	  	 	 	 	  	 Contrib. 	 	SIMPLE
	 (1)	  	 [  ]	 None.Exceptfor	  	 N/A	  	  	  	 [  ]	  	 [  ]	  	 [  ]	  	 [  ]	  	 [  ]	  	 [  ]
	  	  	  	 Election 46(a)	  	 (See Election	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	 exceptions.	  	 46(a))	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (2)	  	 [X] 	Age 59 1/2 (must	  	 [X]	  	 OR	  	 [  ]	  	 [  ]	  	 [  ]	  	 [  ]	  	 [  ]	  	 [  ]
	  	  	  	 be at least 59 1/2).	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (3)	  	 [  ]	 Age _____ (may	  	 N/A	  	  	  	 N/A	  	 N/A	  	 N/A	  	 N/A	  	 [  ]	  	 [  ]
	  	  	  	 be less than 59 1/2).	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (4)	  	 [X]	 Hardship (safe	  	 N/A	  	  	  	 [X]	  	 N/A	  	 N/A	  	 N/A	  	 [X]	  	 [X]
	  	  	  	 harbor). See	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	 Section 6.07(A).	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (5)	  	 [  ]	 Hardship (non-	  	 N/A	  	  	  	 N/A	  	 N/A	  	 N/A	  	 N/A	  	 [  ]	  	 [  ]
	  	  	  	 safe harbor). See	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	 Section 6.07(B).	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  
	 (6)	  	 [  ]	 Disability.	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]	  	 [  ]	  	 [  ]	  	 [  ]	  	 [  ]
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (7)	  	 [  ]	 year	  	 N/A	  	  	  	 N/A	  	 N/A	  	 N/A	  	 N/A	  	 [  ]	  	 [  ]
	  	  	  	 contributions.	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	 (specify minimum of	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	 two years) See	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	 Section 6.01(C)(4)(a)(i).	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (8)	  	 [  ]	 months	  	 N/A	  	  	  	 N/A	  	 N/A	  	 N/A	  	 N/A	  	 [  ]	  	 [  ]
	  	  	  	 of participation.	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	 (specify minimum of	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	 60 months) See	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	 Section 6.01(C)(4)(a)(ii).	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (9)	  	 [  ]	 Describe:	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	 	  	  	 	
      

       	 	  	 	
      

       	
      

    	
      

       	
      

    	
      

       	
      

    	
      

       	
      

    	
      

       	
      

    	
      

       

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	 [Note: The Employer under Election 46(b)(9) may
      describe In-Service Distribution provisions from the elections available
      under Election
	 46 and/or a combination thereof as to any: (i)
      Participant group (e.g., Division A Employee Accounts are distributable
      at age 59 1/2 OR
	 Accounts of Employees hired on/before "x" date
      are distributable at age 59 1/2). No In-Service Distributions apply to Division
      B Employees
	 OR to Employees hired after "x" date.); (ii)
      Contribution Type (e.g., Discretionary Nonelective Contribution Accounts
      are distributable on
	 Disability. Fixed Nonelective Contribution Accounts
      are distributable on Disability or Hardship (non-safe harbor)); and/or (iii)
      merged plan
	 account now held in the Plan (e.g., The accounts
      from the X plan merged into this Plan continue to bedistributable in accordance
      with the X
	 plan terms [supply terms] and not in accordance
      with the terms of this Plan). An Employer's election under Election 46(b)(9)
      must: (i) be
	 objectively determinable; (ii) not be subject
      to Employer discretion; (iii) preserve Protected Benefits as required; (iv)
      be nondiscriminatory;
	 and (v) not permit an "early" distribution of
      any Restricted 401(k) Accounts or Restricted Pension Accounts. See Section
      6.01(C)(4).]
	  
	 In-Service Distribution of other Accounts.See
      Section 6.01(C)(4) as to In-Service Distribution of Employee Contributions,
      Rollover
	 Contributions, DECs, Transfers, and Designated IRA
      Contributions.
	  
	 47. IN-SERVICE DISTRIBUTIONS/ADDITIONAL CONDITIONS
      (6.01(C)). The following additional conditions apply to In-Service
	 Distributions under Election 46(b) (Choose one
      of (a) or (b)):
	  
	 [Note: The Employer should complete Election
      47 if the Employer elects any In-Service Distributions under Election 46(b).]
	  
	 (a) [  ] Additional conditions. (Complete
      (1). Choose (2) and (3) as applicable):
	  
	  	  	 (1) Vesting. A Participant may receive an
      In-Service Distribution under Election 46(b) based on vesting in the distributing
	  	  	 Account as follows (Choose one of a., b., or
      c.):
	  
	  	   	 a.	[    ]	  	  	  100% vesting required. A Participant may not receive any In-Service
      Distribution unless the Participant is 100%
	  	  	  	  	  	  	 Vested in the distributing Account.
	  
	  	  	 b.	[    ] 	  	  	 100% vesting required except hardship. A Participant may not receive
      any In-Service Distribution unless the
	  	  	  	  	  	  	 Participant is 100% Vested in the distributing Account, unless the distribution
      is based on hardship.
	  	  	 c.	[    ]	  	  	  Not required. A Participant may receive an In-Service Distribution
      even from a partially-Vested Account, but the
	  	  	  	  	  	  	 amount distributed may not exceed the Vested amount in the distributing
      partially-Vested Account.
	  
	 (2)  	  	 [    ]	  	 Minimum amount. A Participant may not receive an In-Service
      Distribution in an amount which is less than: $ ______.
	  	  	  	  	 (specify amount not exceeding $1,000).
	 	 	 	 	 
	 (3)	  	 [    ]	  	 Describe other conditions: __________________________________________________________________________
	  	 	  	 	  
	  
	 [Note: An Employer's election under Election
      47(a)(3) must: (i) be objectively determinable; (ii) not be subject to Employer
      discretion; (iii)
	 preserve Protected Benefits as required; (iv)
      be nondiscriminatory; and (v) not permit an "early" distribution of any
      Restricted 401(k)
	 Accounts or Restricted Pension Accounts. See
      Section 6.01(C)(4).]
	 
	 (b) [X] No other conditions. A Participant
      may elect to receive an In-Service Distribution upon any Election 46(b)
      event without
	  	  	 further condition, provided that the amount distributed
      may not exceed the Vested amount in the distributing Account.
	  
	 48. POST-SEVERANCE AND LIFETIME RMD DISTRIBUTION
      METHODS (6.03). A Participant whose Vested Account Balance
	 exceeds $5,000 (or any lesser amount elected
      in Appendix B, Election 54(g)(7)): (i) who has incurred a Severance from
      Employment
	 and will receive a distribution; or (ii) who remains
      employed but who must receive lifetime RMDs, may elect distribution under
      one of
	 the following method(s) of distribution described
      in Section 6.03 and subject to any Section 6.03 limitations. (Choose
      one or more of
	 (a) through (f) as applicable):
	  
	 [Note: If a Participant dies after Severance
      from Employment but before receiving distribution of all of his/her Account,
      the elections under
	 this Election 48 no longer apply. See Section
      6.01(B) and Election 49.]
	  
	 (a)	  	 [X] Lump-Sum. See Section 6.03(A)(3).
	  
	 (b)	  	 [X] Installments only if Participant subject
      to lifetime RMDs. A Participant who is required to receive lifetime
      RMDs may
	  	  	 receive installments payable in monthly, quarterly
      or annual installments equal to or exceeding the annual RMD amount. See
	  	  	 Sections 6.02(A) and 6.03(A)(4)(a).
	  
	 (c)	  	 [  ] Installments. See Section
      6.03(A)(4).
	  
	 (d)	  	 [  ] Alternative Annuity: _____________________________________.
      See Section 6.03(A)(5).
	  
	 [Note: Under a Plan which is subject to the joint
      and survivor annuity distribution requirements of Section 6.04 (Election
      50(b)), the
	 Employer may elect under 48(d) to offer one or
      more additional annuities (Alternative Annuity) to the Plan's QJSA or QPSA.
      If the
	 Employer elects under Election 50(a) to exempt
      Exempt Participants from the joint and survivor annuity requirements, the
      Employer
	 should not elect to provide an Alternative Annuity
      under 48(d).]
	  
	 (e)	  	 [  ] Ad-Hoc distributions. See
      Section 6.03(A)(6).
	 
	 [Note: If an Employer elects to permit Ad-Hoc
      distributions: (i) the option must be available to all Participants; and
      (ii) the option is a
	 Protected Benefit.]	  	  

 28

 Nonstandardized 401(k) Plan

									
	 (f) [  ] Describe distribution method(s):
      _________________________________________________________________________________
    
	  	 	  	 	  
	 [Note: The Employer under Election 48(f) may
      describe Severance from Employment distribution methods from the elections
      available under
	 Election 48 and/or a combination thereof as to
      any: (i) Participant group (e.g., Division A Employee Accounts are distributable
      in a Lump-
	 Sum OR Accounts of Employees hired after "x"
      date are distributable in a Lump-Sum. Division B Employee Accounts are distributable
      in a
	 Lump-Sum or in Installments OR Accounts of Employees
      hired on/before "x" date are distributable in a Lump-Sum or in Installments.);
      (ii)
	 Contribution Type (e.g., Discretionary Nonelective
      Contribution Accounts are distributable in a Lump-Sum. Fixed Nonelective
      Contribution
	 Accounts are distributable in a Lump-Sum or in
      Installments); and/or (iii) merged plan account now held in the Plan (e.g.,
      The accounts
	 from the X plan merged into this Plan continue
      to be distributable in accordance with the X plan terms [supply terms] and
      not in accordance
	 with the terms of this Plan). An Employer's election
      under Election 48(f) must: (i) be objectively determinable; (ii) not be
      subject to Employer,
	 Plan Administrator or Trustee discretion; (iii)
      be nondiscriminatory; and (iv) preserve Protected Benefits as required.]
	  
	 49. BENEFICIARY DISTRIBUTION ELECTIONS (6.01(B)/6.02(B)/6.03).
      Subject to the Participant's elections under Section 6.01(B)(1)
	 as to the timing and method of distribution of the
      Participant's Account to the Participant's Beneficiary (which Participantelections
      must be
	 consistent with the Plan and this Election 49),
      in the case of a Participant's death, the Beneficiary will receive distribution
      of the
	 Participant's Account (or of the Beneficiary's share
      thereof) as follows (Complete (a), (b), and (c)):	  	  
	  
	 [Note: For purposes of this Election 49, unless
      otherwise noted, a "Beneficiary" includes, but is not limited to a "Designated
      Beneficiary"
	 under Section 6.02(E)(1).]	  	  	  	  
	  
	  	  	  	  	  	  	 (1)	  	 (2)
	  	  	  	  	  	  	 Spouse Beneficiary	  	 Other Beneficiary
	  
	 (a) Timing. The Plan will distribute to the
      Beneficiary as soon	  	  	  	  
	       as is practical
      at (or not later than) the following time or date	  	  	  	  
	       (Choose one
      of (1) through (4). Choose (5) if applicable):	  	  	  	  
	  
	  	(1) 	[  ]	  	  Immediate. Immediately following the	  	 [  ]	  	 [  ]
	  	  	  	  	 Participant's death.	  	  	  	  
	  	 	 	  	  	  	  	  	  
	  	(2) 	[   ] 	  	 Next Calendar Year. In the calendar year which	  	 [  ]	  	 [  ]
	  	  	  	  	 next follows the calendar year of the Participant's	  	  	  	  
	  	  	  	  	 death, but not later than December 31 of such	  	  	  	  
	  	  	  	  	 following calendar year.	  	  	  	  
	  
	  	(3) 	[X] 	 	As Beneficiary elects. At such time as the Beneficiary	  	 [X]	  	 [X]
	  	  	  	  	 may elect, provided that distribution pursuant to such	  	  	  	  
	  	  	  	  	 election (or in the absence of any Beneficiary election)	  	  	  	  
	  	  	  	  	 must commence no later than the Section 6.02 required date.	  	  	  	  
	  
	  	(4)	[   ] 	  	 Describe: _______________________________________________	  	 [  ]	  	 [  ]
	 [Note: The Employer under Election 49(a)(4) may
      describe an alternative distribution timing or afford the Beneficiary an
      election which is
	 narrower than that permitted under election 49(a)(3).
      However, any election under Election 49(a)(4) must require distribution
      to commence
	 no later than the Section 6.02 required date.]	  	  	  	  
	  
	  	(5) 	[X] 	 	Death before DCD; spousal election to delay. If the	  	 [X]	  	 N/A
	  	  	  	  	 Participant dies before his/her Distribution Commencement	  	  	  	  
	  	  	  	  	 Date and the Participant's sole Designated Beneficiary is	  	  	  	  
	  	  	  	  	 his/her spouse, the spouse may elect to delay distribution	  	  	  	  
	  	  	  	  	 until the end of the calendar year in which the Participant	  	  	  	  
	  	  	  	  	 would have attained age 70 1/2, if that date is later than
      the	  	  	  	  
	  	  	  	  	 date upon which distribution would be required to commence	  	  	  	  
	  	  	  	  	 to a non-spouse Beneficiary.	  	  	  	  
	  
	 (b) Method.The Plan will distribute to the
      Beneficiary under the	  	  	  	  
	       followingdistributionmethod(s).
      Ifmore thanone methodiselected,	  	  	  	  
	       theBeneficiarymaychoosethe
      methodof distribution.(Choose one	  	  	  	  
	       or more of
      (1) through (4) but do not elect (4) only):	  	  	  	  
	  
	  	(1) 	 [X] .	 	Lump-Sum. See Section 6.03(A)(3)	  	 [X]	  	 [X]
	  
	  	(2) 	 [X] 	 	Installments sufficient to satisfy RMD.	  	 [X]	  	 [X]
	  	  	  	  	 See Section 6.03(A)(4)(a). An Installment in each Distribution	  	  	  	  
	  	  	  	  	 Calendar Year must at least equal the RMD amount.	  	  	  	  

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 29

 Nonstandardized 401(k)

															
	  	  	 (3)	[  ]  	 Ad-Hoc sufficient to satisfy RMD. See Section
      6.03(A)(6).	  	 [  ]	  	  	  	 [  ]
	  	  	  	  	 The Beneficiary must elect an Ad-Hoc distribution
      for each	  	  	  	  	  	  
	  	  	  	  	 Distribution Calendar Year at least equal to the
      RMD amount.	  	  	  	  	  	  
	 
	 [Note: If an Employer elects to permit Ad-Hoc
      distributions: (i) the option must be available to all Beneficiaries; and
      (ii) the option is a
	 Protected Benefit.]	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	 (4)	[  ]  	 QPSA. See Section 6.04(B).	  	  	  	  	  	 [  ]	  	  	  	 N/A
	 
	 [Note: If the Employer elects 50(b), the Employer
      should elect 49(b)(4). If the Employer elects 50(a), the Employer should
      not elect
	 49(b)(4). A surviving spouse may elect to waive
      the QPSA in favor of another method.]	  	  	  	  
	 	 	 	 	 	 	 
	 (c) Death before the DCD. If a Participant
      dies before the Distribution	  	  	  	  	  	  
	  	  	 Commencement Date, the distribution to the Beneficiary
      will be made	  	  	  	  	  	  
	  	  	 in accordance with the following rule(s) (Choose
      one of (1), (2), or (3)):	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 
	  	  	 (1) [X] Beneficiary election. See Section
      6.02(B)(1)(e). This election	  	 [X]	  	  	  	 [X]
	  	  	  	  	 applies only if the Beneficiary is a Designated
      Beneficiary	  	  	  	  	  	  
	  	  	  	  	 under Treas. Reg. §1.401(a)(9)-4. If not, the
      5-year rule applies.	  	  	  	  	  	  
	  	  	  	  	 In the absence of the Designated Beneficiary's election,
      the	  	  	  	  	  	  
	  	  	  	  	 Life Expectancy rule applies. The Employer in Appendix
      B	  	  	  	  	  	  
	  	  	  	  	 may elect to change the default (no Designated Beneficiary	  	  	  	  	  	  
	  	  	  	  	 election) to the 5-year rule.	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 
	  	  	 (2) [  ] Life Expectancy rule. See
      Section 6.02(B)(1)(d). This election	  	 [  ]	  	  	  	 [  ]
	  	  	  	  	 applies only if the Beneficiary is a Designated
      Beneficiary	  	  	  	  	  	  
	  	  	  	  	 under Treas. Reg. §1.401(a)(9)-4. If not, the
      5-year rule applies.	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 
	  	  	 (3) [  ] 5-year rule. See Section
      6.02(B)(1)(c). This election applies	  	 [  ]	  	  	  	 [  ]
	  	  	  	  	 regardless of whether the Beneficiary is a Designated
      Beneficiary	  	  	  	  
	  	  	  	  	 under Treas. Reg. §1.401(a)(9)-4.	  	  	  	  	  	  	  	  
	  
	 50. JOINT AND SURVIVOR ANNUITY REQUIREMENTS
      (6.04). The joint and survivor annuity distribution requirements
      of Section
	 6.04 (Choose one of (a) or (b)):	  	  	  	  	  	  	  	  	  	  
	 
	 (a) [X] Profit sharing exception. Do not
      apply to an Exempt Participant, as described in Section 6.04(G)(1), but
      apply to any other
	  	  	  	  	 Participants (or to a portion of their Account as
      described in Section 6.04(G)) (Complete (1)):	  	  
	 	 	 
	  	  	 (1) One-year marriage rule. Under Section
      7.05(A)(3) relating to an Exempt Participant's Beneficiary designation under
      the
	  	  	  	  	 profit sharing exception (Choose one of a. or
      b.):	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	  	 a.	 [X] Applies. The one-year marriage rule applies.	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	  	 b.	 [  ] Does not apply. The one-year
      marriage rule does not apply.	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (b) [  ] Joint and survivor annuity
      applicable. Section 6.04 applies to all Participants (Complete (1)):	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	 (1) One-year marriage rule. Under Section
      6.04(B) relating to the QPSA (Choose one of a. or b.):	  	  
	  
	  	  	  	 a.	 [  ] Applies. The one-year marriage
      rule applies.	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	  	  	 b.	 [  ] Does not apply. The one-year
      marriage rule does not apply.	  	  	  	  
	  
	 ARTICLE VII
	 ADMINISTRATIVE PROVISIONS
	  
	 51. ALLOCATION OF EARNINGS (7.04(B)).
      For each Contribution Type provided under the Plan, the Plan allocates Earnings
      using
	 the following method (Choose one or more of (a)
      through (f) as applicable):	  	  	  	  	  	  
	 [Note: Elective Deferrals/Employee Contributions
      also includes Rollover Contributions, Transfers, DECs and Designated IRA
	 Contributions, Matching Contributions includes
      all Matching Contributions and Nonelective Contributions includes all Nonelective
	 Contributions unless described otherwise in Election
      51(f).]	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	 (1)	  	  	  	 (2)	  	 (3)	  	 (4)
	  	  	  	  	  	  	  	  	  	 	Elective Deferrals/	  	  	  	  
	  	  	  	  	  	  	 All	  	  	  	 Employee	  	 Matching	  	 Nonelective
	  	  	  	  	  	  	 Contributions	  	  	 	Contributions	  	 Contributions	  	 Contributions
	 (a)	  	 [X] 	 	Daily. See Section 7.04(B)(4)(a).	  	 [X]	  	 OR	  	 [  ]	  	 [  ]	  	 [  ]
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (b)	  	 [  ]	  	 Balance forward.	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]	  	 [  ]
	  	  	  	  	 See Section 7.04(B)(4)(b).	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 (c)	  	 [  ]	  	 Balance forward with adjustment.	  	 [  ]	  	 OR	  	 [  ]	  	 [  ]	  	 [  ]

 © 2008 Wells Fargo Bank, N.A.

 30

 Nonstandardized 401(k)

	 	 	 	 	 	 	 	 	 	 	 	 	 
	   	   	 See Section 7.04(B)(4)(c). Allocate 	   	   	   	   	   	   	   	   	   	   
	   	   	 pursuant to the balance forward method, 	   	   	   	   	   	   	   	   	   	   
	   	   	 except treat as part of the relevant 	   	   	   	   	   	   	   	   	   	   
	   	   	 Account at the beginning of the Valuation 	   	   	   	   	   	   	   	   	   	   
	   	   	 Period_______ % of the contributions 	   	   	   	   	   	   	   	   	   	   
	   	   	 made during the following Valuation 	   	   	   	   	   	   	   	   	   	   
	   	   	 Period: 	   	   	   	   	   	   	   	   	   	   
	   
	 (d) 	   	 [  ] Weighted average. See Section 	   	 [  ] 	   	 OR 	   	 [  ] 	   	 [  ] 	   	 [  ] 
	   	   	        7.04(B)(4)(d). If
      not a monthly 	   	   	   	   	   	   	   	   	   	   
	   	   	        weighting period,
      the weighting 	   	   	   	   	   	   	   	   	   	   
	   	   	        period is: 	   	   	   	   	   	   	   	   	   	   
	   
	 (e) 	   	 [  ] Participant-Directed Account. 	   	 [  ] 	   	 OR 	   	 [  ] 	   	 [  ] 	   	 [  ] 
	   	   	        See Section 7.04(B)(4)(e). 	   	   	   	   	   	   	   	   	   	   
	   
	 (f) 	   	 [  ] Describe Earnings allocation
      method: ______________________________________________________________ 
	   
	 [Note: The Employer under Election 51(f) may
      describe Earnings allocation methods from the elections available under
      Election 51  and/or a combination thereof as to any: (i)
      Participant group (e.g., Daily applies to Division A Employees OR to Employees
      hired after "x"  date. Balance forward applies to Division B
      Employees OR to Employees hired on/before "x" date.); (ii) Contribution
      Type (e.g., Daily  applies as to Discretionary Nonelective Contribution
      Accounts. Participant-Directed Account applies to Fixed Nonelective  Contribution Accounts); (iii) investment type,
      investment vendor or Account type (e.g., Balance forward applies to investments
      placed with  vendor A and Participant-Directed Account applies
      to investments placed with vendor B OR Daily applies to Participant-Directed
      Accounts  and balance forward applies to pooled Accounts);
      and/or (iv) merged plan account now held in the Plan (e.g., The accounts
      from the X  plan merged into this Plan continue to be subject
      to Earnings allocation in accordance with the X plan terms [supply terms]
      and not in  accordance with the terms of this Plan). An
      Employer's election under Election 51(f) must: (i) be objectively determinable;
      (ii) not be  subject to Employer discretion; and (iii) be
      nondiscriminatory.]                 
	   
	 ARTICLE VIII 
	 TRUSTEE AND CUSTODIAN, POWERS AND DUTIES 
	   
	 52. VALUATION OF TRUST (8.02(C)(4)).
      In addition to the last day of the Plan Year, the Trustee (or Named Fiduciary
      as applicable)  must value the Trust Fund on the following Valuation
      Date(s) (Choose one or more of (a) through (d) as applicable):     
	   
	 [Note: Elective Deferrals/Employee Contributions
      also include Rollover Contributions, Transfers, DECs and Designated IRA  Contributions, Matching Contributions includes
      all Matching Contributions and Nonelective Contributions includes all Nonelective  Contributions unless described otherwise in Election
      52(d).]                 
	   	   	   	   	 (1) 	   	   	   	 (2) 	   	 (3) 	   	 (4) 
	   	   	   	   	   	   	   	   	 Elective Deferrals/ 	   	   	   	   
	   	   	   	   	 All 	   	   	   	 Employee 	   	 Matching 	   	 Nonelective 
	   	   	   	  	Contributions 	   	   	   	 Contributions 	   	 Contributions 	   	 Contributions 
	   
	 (a) 	   	 [  ] No additional Valuation Dates. 	   	 [  ] 	   	 OR 	   	 [  ] 	   	 [  ] 	   	 [  ] 
	 (b) 	   	 [X] Daily Valuation Dates. Each business 	   	 [X] 	   	 OR 	   	 [  ] 	   	 [  ] 	   	 [  ] 
	   	   	 day of the Plan Year on which Plan 	   	   	   	   	   	   	   	   	   	   
	   	   	 assets for which there is an 	   	   	   	   	   	   	   	   	   	   
	   	   	 established market are valued and 	   	   	   	   	   	   	   	   	   	   
	   	   	 the Trustee is conducting business. 	   	   	   	   	   	   	   	   	   	   
	   
	 (c) 	   	 [  ] Last day of a specified period. The 	   	 [  ] 	   	 OR 	   	 [  ] 	   	 [  ] 	   	 [  ] 
	   	   	 last day of each _____ of the Plan Year. 	   	   	   	   	   	   	   	   	   	   
	   
	 (d) 	   	 [  ] Specified Valuation Dates: _______________________________________________________________________. 
	   
	 [Note: The Employer under Election 52(d) may
      describe Valuation Dates from the elections available under Election 52
      and/or a combination  thereof as to any: (i) Participant group (e.g.,
      No additional Valuation Dates apply to Division A Employees OR to Employees
      hired after "x"  date. Daily Valuation Dates apply to Division
      B Employees OR to Employees hired on/before "x" date.); (ii) Contribution
      Type (e.g., No  additional Valuation Dates apply as to Discretionary
      Nonelective Contribution Accounts. The last day of each Plan Year quarter
      applies to  Fixed Nonelective Contribution Accounts); (iii)
      investment type, investment vendor or Account type (e.g., No additional
      Valuation Dates apply  to investments placed with vendor A and Daily
      Valuation Dates apply to investments placed with vendor B OR Daily Valuation
      Dates apply to  Participant-Directed Accounts and no additional
      Valuation Dates apply to pooled Accounts); and/or (iv) merged plan account
      now held in  the Plan (e.g., The accounts from the X plan
      merged into this Plan continue to be subject to Trust valuation in accordance
      with the X plan  terms [supply terms] and not in accordance with
      the terms of this Plan). An Employer's election under Election 52(d) must:
      (i) be  objectively determinable; (ii) not be subject
      to Employer discretion; and (iii) be nondiscriminatory.]         

 © 2008 Wells Fargo Bank, N.A.

 31

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	 EXECUTION PAGE
	 	 
	 The Employer, by executing this Adoption Agreement,
      hereby agrees to the provisions of this Plan and Trust.
	 	 
	 	 Employer: Premiere Global Services, Inc.
	 	
      

       
	 	  
	 	 Date: 9/3/10
	 	
      

       
	 	  
	 	 Signed: /s/ Alison Sheehan
	 	
      

       
	 	Alison Sheehan, SVP, HR
	,	 [print name/title]
	 
	 The Trustee (and Custodian, if applicable), by
      executing this Adoption Agreement, hereby accepts its position and agrees
      to all of the  obligations, responsibilities and duties imposed
      upon the Trustee (or Custodian) under the Prototype Plan and Trust. If the
      Employer under  Election 5(c) will use a separate Trust, the Trustee
      need not execute this Adoption Agreement. 
	 	 
	 	 Nondiscretionary Trustee(s): Wells Fargo Bank, N.A.
	 	
      

       
	 	 
	 	 Date: 
	 	
      

       
	 	 
	 	 Signed:
	 	
      

       
	 	 [print name/title]
	 	 
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 © 2008 Wells Fargo Bank, N.A.

 32exhibit_10-26.htm

EXHIBIT 10.26

 

AVID TECHNOLOGY, INC.

  

AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT,

AS AMENDED March 14, 2011

 

This Amended and Restated Executive Employment Agreement (this “Agreement”) is entered into as of March 14, 2011, by and between Avid Technology, Inc., a Delaware corporation (the “Company”), and Gary G. Greenfield (“Executive”).  This Agreement shall replace and supersede that certain Executive Employment Agreement between Executive and the Company entered into as of December 19, 2007 and amended and restated on December 20, 2010 (the “Prior Agreement”).

 

Recital

The Company and the Executive desire to amend and restate the Prior Agreement in its entirety as set forth herein, effective as of the date set forth above, to provide that the term of this Agreement shall continue until March 14, 2014, with automatic annual extensions thereafter unless either party provides the requisite advance notice of intent to terminate this Agreement and with certain automatic extensions in the event of a Change-in-Control of the Company (as defined below) or a Potential Change-in-Control Period (as defined below).

Agreement

In consideration of the foregoing Recital and the mutual promises and covenants herein contained, and for other good and valuable consideration, Executive and the Company, intending to be legally bound, agree as follows:

Article 1.  Services

 

1.1. Service.  Commencing on December 19, 2007 (the “Effective Date”) and throughout the Term (as defined below), Executive shall serve as the Chief Executive Officer of the Company upon the terms and conditions set forth below.

 

1.2. Duties.  During the Term, Executive agrees to perform such executive duties consistent with his position as may be assigned to him from time to time by the Board of Directors of the Company (the “Board” or “Board of Directors”) and to devote his full working time and attention to such duties.

 

                      Following the Effective Date, Executive shall be permitted to continue serving on, and only on, the boards of directors (and committees thereof) of three companies on which Executive serves as of the Effective Date (the “Existing Directorships”); provided, however, that if Executive resigns or otherwise ceases to serve with respect to any Existing Directorship, Executive shall not serve on the boards of directors or advisory committees of more than two companies (public or private) without prior Board approval.  Executive’s service on the Board shall not be taken into account for purposes of the limitations set forth in this paragraph.

 

 

  

1

  

 

1.3. No Conflicting Commitments.  During the Term, Executive will not undertake any commitments, engage or have an interest in any outside business activities or enter into any consulting agreements which, in the good faith determination of the Board of Directors (excluding Executive), conflict with the Company’s interests or which might reasonably be expected to impair the performance of Executive’s duties as a full-time employee of the Company.  Notwithstanding the foregoing, Executive may pursue personal interests (including, without limitation, industry, civic and charitable activities), attend to his personal investments, so long as such activities do not interfere with the performance of his duties hereunder, and, until December 31, 2007, continue to satisfy obligations with respect to his prior employer.

 

1.4. Board Membership.  Executive shall be appointed a member of the Board of Directors as of the Effective Date and shall serve as a member of the Board without additional compensation.  During the Term, at each annual meeting of the Company’s stockholders at which Executive’s membership on the Board has expired, the Company will nominate Executive to serve as a member of the Board.  Executive’s service as a member of the Board will be subject to any required stockholder approval.  Upon termination of Executive’s employment with the Company for any reason, unless the Board affirmatively requests that Executive remain on the Board, Executive will be deemed to have resigned from the Board voluntarily as of the last day of employment with the Company; and at the Board’s request, Executive will execute any documents necessary to reflect such resignation.

 

1.5. Chairman of Board.  Executive will be named Chairman of the Board within 12 months after the Effective Date.

 

Article 2.  Term

 

2.1. Term.  The term of this Agreement (the “Term”) shall commence on the Effective Date and shall expire on March 14, 2014 unless the Term is:

 

2.1.1 extended pursuant to the provisions of this Section 2.1; or

 

2.1.2 terminated when Executive’s employment terminates pursuant to Section 4.1 hereof;

 

provided, however, that notwithstanding the foregoing, the Term shall continue to automatically be extended for periods of one (1) year so long as neither party provides written notice to the other of its intent to terminate by a date which is at least one hundred and eighty (180) days prior to the then-current expiration date of this Agreement, and, provided further, that (i) in the event that a Change-in-Control of the Company (as defined in Section 4.2.2) should occur during the twelve (12) months prior to the end of the then-current Term and Executive is still an employee of the Company at that time, then the Term shall be deemed to expire on the date that is twelve (12) months after the date of such Change-in-Control of the Company, (ii) in the event a Potential Change-in-Control Period (as defined in Section 4.2.6) exists within the twelve (12) months prior to the end of the then-current Term and Executive is still an employee of the Company as of that date, the Term shall be deemed to expire on the date that is twelve (12) months after the commencement of such Potential Change-in-Control Period and (iii) the expiration of the Term shall not adversely affect Executive’s rights under this Agreement which have accrued prior to such expiration. For the avoidance of doubt, if a Potential Change-in-Control Period shall commence in the twelve (12) months prior to the end of the then-current Term and a Change-in-Control of the Company shall also occur during such twelve (12) month period, and if Executive is still an employee of the Company on the date of the Change-in-

 

 

  

2

  

 

Control of the Company, the Term shall be deemed to expire twelve (12) months after the date of such Change-in-Control.  Unless the services of Executive have terminated prior to or upon the end of the Term in accordance with the provisions of this Agreement, from and after the end of the Term, Executive shall be an employee-at-will.

 

Article 3.  Payments

 

3.1. Base Compensation.  During the Term, the Company shall pay Executive an annual base salary (the “Base Salary”) of Nine Hundred Thousand Dollars ($900,000), payable in regular installments in accordance with the Company’s usual payment practices.  The Base Salary shall be reviewed by the Board of Directors’ Compensation Committee during the Term and increased (but not decreased) accordingly at the discretion of the Compensation Committee.  As of January 1, 2010, Executive’s Base Salary is $936,000.

 

3.2. Incentive Payments. Commencing with the Company’s fiscal year ending December 31, 2008 and thereafter during the remainder of the Term, Executive shall be eligible to participate in an annual performance bonus plan pursuant to which he shall be eligible to receive a target annual bonus (the “Annual Incentive Bonus”) equal to One Hundred percent (100%) of his then Base Salary for full attainment of his performance objectives (which may include company-wide objectives), with a maximum annual bonus equal to One Hundred Thirty-Five percent (135%) of his then Base Salary for extraordinary performance on all or nearly all of his performance objectives.  The total cash compensation payable to Executive with respect to fiscal year 2008, including his Annual Incentive Bonus for 2008 (but excluding the bonus payable under Section 3.8), shall not exceed Two Million One Hundred Fifteen Thousand Dollars ($2,115,000).

 

                      The amount of Executive’s Annual Incentive Bonus, if any, shall be based on the degree to which Executive’s performance objectives for a fiscal year have been met.  Within 70 days after the Effective Date, Executive and the Compensation Committee of the Board (after receiving input from the Board) shall have mutually determined and established Executive’s performance objectives for fiscal year 2008.  Thereafter, during the Term, Executive’s performance objectives for each fiscal year shall be mutually established by the Compensation Committee of the Board and Executive during Executive’s annual performance review; provided, that in no event shall the percentages set forth in the first paragraph of this Section 3.2 to be used in calculating Executive’s Annual Incentive Bonus be reduced.  The Compensation Committee of the Board shall determine, for each fiscal year, the extent to which Executive’s performance objectives for such fiscal year have been attained and the amount of the Annual Incentive Bonus, if any, for such fiscal year.  Any Annual Incentive Bonus earned by Executive with respect to a fiscal year shall be paid to him promptly after the filing of the Company's Annual Report on Form 10-K for such fiscal year but in no event later than 90 days after the end of such fiscal year.  The amount of, and Executive’s entitlement to receive, the Annual Incentive Bonus for a fiscal year shall be determined without regard to whether Executive is employed on the date that such Annual Incentive Bonus is payable.

 

3.3. Equity Grant.

 

3.3.1. Option Grant.  Effective as of the Effective Date, pursuant to a stock option agreement, Executive will be awarded an option to purchase Seven Hundred Twenty-Five Thousand (725,000) shares of Avid Technology, Inc. common stock (the “Stock Option”).  The exercise price will be the closing price of the stock on the Effective Date (the “Start Price”).

 

 

  

3

  

 

             a) One Hundred Thousand (100,000) shares of the Stock Option will vest on a time-based schedule in equal 6.25% increments every three months, with the first vesting date on March 19, 2008 and the last vesting date on December 19, 2011, as long as Executive is employed by the Company on each such vesting date.

 

             b) Three Hundred Thousand (300,000) shares of the Stock Option will vest on a performance-based schedule, as follows:

 

                (1)  One Hundred Fifty Thousand (150,000) shares of the Stock Option will vest at the end of the first 20 consecutive trading day period following the Effective Date during which the common stock of the Company, as quoted on Nasdaq (or on such other exchange as such shares may be traded), trades (without regard to the closing price) at a price per share of at least twice the Start Price, as adjusted for stock splits and stock dividends; and

 

                (2) An additional One Hundred Fifty Thousand (150,000) shares of the Stock Option will vest at the end of the first 20 consecutive trading day period following the Effective Date during which the common stock of the Company, as quoted on Nasdaq (or on such other exchange as such shares may be traded), trades (without regard to the closing price) at a price per share of at least three times the Start Price, as adjusted for stock splits and stock dividends.

 

             c) Three Hundred Twenty-Five Thousand (325,000) shares of the Stock Option (the “ROE Option Shares”) will vest in accordance with the following table, based upon improvement in the Company’s Return on Equity, or ROE (as defined below), in calendar year periods, commencing with calendar year 2008.  Improvements for each calendar year shall be measured against a baseline ROE for the 12-month period ended September 30, 2007 (“Baseline”).

 

	
ROE Percentage Point 

Improvement in Calendar 

Year Compared to 

Baseline

	
Percentage of

ROE Option

Shares to Vest

	
14%

	
100%

	
12%

	
90%

	
10%

	
75%

	
8%

	
60%

	
6%

	
45%

	
4%

	
30%

	
2%

	
15%

	
0%

	
0%

 

The Board (excluding Executive if he is a member of the Board) shall make the final determination of ROE and the ROE percentage point 

 

 

  

4

  

 

improvement for purposes hereof for each calendar year no later then the 1st day of March following the end of such calendar year.  The determination of ROE shall be derived upon the Company’s audited financial statements for the applicable calendar year and the unaudited financial statements for the Baseline period.  The ROE Option Shares, if any, that are not vested at the end of the seventh calendar year (2014) shall be forfeited.

 

“Return on Equity” or “ROE” shall be determined using the Company’s non-GAAP net income as published in an earning release, adding the provision for income taxes and subtracting the non-GAAP related tax adjustments for the applicable period and dividing by the average common stockholder equity during the same period.

 

Notwithstanding the foregoing, the ROE Option Shares will vest in full at the end of the first 20 consecutive trading day period following the Effective Date during which the common stock of the Company, as quoted on Nasdaq (or on such other exchange as such shares may be traded), trades (without regard to the closing price) at a price per share at least four times the Start Price, as adjusted for stock splits and stock dividends.

 

3.3.2. Restricted Stock Grant.  Effective as of the Effective Date, pursuant to a restricted stock agreement, Executive will be granted One Hundred Thousand (100,000) shares of Avid Technology, Inc. common stock (the “Restricted Stock Grant”), which will vest as to 25% of the shares on January 1, 2009 and in equal 6.25% increments every three months thereafter, commencing on March 19, 2009, until fully vested on December 19, 2011, as long as Executive is employed by the Company on each such vesting date.

 

3.3.3. Representation Regarding Grant Date.  The Company represents and warrants that the Company has taken all corporate action necessary to create legally binding rights on the part of Executive, as of the Effective Date, to the Stock Option and the Restricted Stock Grant and that the Effective Date is the grant date for all purposes, including (without limitation) for purposes of Section 409A of the United States Internal Revenue Code of 1986, as amended (the “Code”).

 

3.3.4. Covenant Regarding Registration.  The Company covenants and agrees that as soon as practicable after the Effective Date, but in any event no later than March 31, 2008 to register the shares of stock of the Company covered by the Stock Option and the Restricted Stock Grant under the Securities Act of 1933, as amended, by filing a registration statement on Form S-8, or on such other form as may be appropriate, and shall use its best efforts to maintain the effectiveness of such registration statement or statements for so long as the Stock Option and Restricted Stock Grant are in effect and for so long as any of the shares of stock covered by the Stock Option and Restricted Stock Grant remain outstanding.

 

3.4. Benefits; Expenses.  During the Term, the Company shall provide Executive and his dependents with medical insurance and such other cash and noncash benefits, on the same terms and conditions, as amended from time to time, as are generally made available by the Company to its full-time executive officers.  Executive shall be entitled to six (6) weeks of paid vacation per year.  The Company shall pay, or reimburse Executive for, all business expenses 

 

 

  

5

  

 

incurred by Executive which are related to the performance of Executive's duties, subject to timely submission by Executive of payment or reimbursement requests and appropriate documentation, in accordance with the Company’s reimbursement policies.

 

3.5. Participation in Equity Incentive Plans.  During the Term, in addition to the Stock Option and Restricted Stock Grant, Executive shall be entitled to participate in the Company’s stock incentive plans to the extent and in the manner determined by the Board of Directors in its absolute discretion.

 

3.6. Establishment of Residence.  Executive agrees to establish a residence in the Greater Boston area no later than June 30, 2008.  The Company will reimburse Executive and his spouse for up to six (6) round-trip flights between Maryland and Boston to assist them with searching for a house and establishing a residence.  The Company will also reimburse Executive for the reasonable costs incurred by Executive in moving personal belongings from Maryland to the Greater Boston area.  Reimbursement for such expenses (except for tax deductible amounts) will also include a one-time gross-up of 40% to cover any income taxes associated with such reimbursement.  Executive shall submit requests for reimbursements in a timely fashion consistent with Company policy.

 

3.7. Commuting Expense and Temporary Housing.  Until such time as Executive establishes a residence in the Greater Boston area, but no later than June 30, 2008, the Company shall reimburse Executive for all travel expenses which he incurs between his home in Maryland and the Greater Boston area and will provide Executive with a furnished corporate apartment of the Executive’s choosing (at a cost not to exceed $10,000 per month) in the Greater Boston area.

 

3.8. One-Time Bonus.  On January 7, 2008, the Company shall pay Executive a bonus of Six Hundred Thousand Dollars ($600,000), net of applicable taxes and withholding.  If Executive’s employment with the Company is terminated prior to the first anniversary of the Effective Date pursuant to either Section 4.1.3 or Section 4.1.5, Executive hereby authorizes the Company to deduct the amount of such bonus from monies otherwise due to him and to the extent that the bonus is not so repaid in full, he agrees to pay the remaining amount to the Company within 60 days after the effective date of the termination of his employment.

 

Article 4.  Termination

 

4.1. Termination.  Executive’s employment hereunder shall terminate upon the occurrence of any of the following events:

 

4.1.1. Immediately upon the Executive’s death;

 

4.1.2. The termination of the Executive’s employment by the Company for Disability (as defined below), to be effective immediately upon delivery of notice thereof;

 

4.1.3. The termination of Executive’s employment by the Company for Cause (as defined below), to be effective immediately upon delivery of notice thereof;

 

4.1.4. The termination of Executive’s employment by the Company, without Cause and not as a result of Executive’s death or Disability, to be effective 30 days after the Company delivers written notice thereof to the Executive;

 

 

  

6

  

 

4.1.5.  The termination of Executive’s employment by Executive without Good Reason (as defined below) to be effective 30 days after Executive delivers written notice thereof from Executive to the Company; or

 

4.1.6. The termination of Executive’s employment by Executive with Good Reason (as defined below), to be effective as set forth below.

 

4.2. For purposes of this Agreement, the following definitions shall apply:

 

4.2.1. “Cause” shall mean (i) Executive’s willful and material failure to perform (other than by reason of death or illness or other physical or mental incapacity) his duties and responsibilities as assigned by the Board in accordance with Section 1.2 above, which is not remedied after 30 days’ written notice from the Board (if such failure is susceptible to cure), (ii) a breach of any of the provisions of this Agreement or any other material written agreement (including the Company’s employee nondisclosure and invention assignment agreement) between Executive and the Company, which is not cured after 10 days’ written notice from the Board (if such breach is susceptible to cure), (iii)  Executive’s material violation of a material Company policy (for purposes of this clause, the Company’s Conflicts of Interest policy shall be deemed a material policy), which is not cured after 10 days’ written notice from the Board (if such violation is susceptible to cure), (iv) fraud, embezzlement or other material dishonesty with respect to the Company, (v) conviction of a crime constituting a felony (which shall not include any crime or offense related to traffic infractions or as a result of vicarious liability) or conviction of any other crime involving fraud, dishonesty or moral turpitude or (vi) failing or refusing to cooperate, as reasonably requested in writing by the Board, in any internal or external investigation of any matter in which the Company has a material (financial or otherwise) in the outcome of the investigation.

 

4.2.2.  “Change-in-Control of the Company” shall be deemed to have occurred only if any of the following events occur:

 

             a) The acquisition by an 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 30% or more of either (i) the then outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (ii) 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 4.2.2, the following acquisitions shall not constitute a Change of Control:  (A) any acquisition directly from the Company, (B) any acquisition by the Company, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company, or (D) any acquisition pursuant to a transaction which satisfies the criteria set forth in clauses (A) and (B) of Section 4.2.2(c); or

 

             b) Individuals who, as of the Effective Date, 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 subsequently to the Effective Date whose election, or nomination for 

 

 

  

7

  

 

election 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; or

 

             c) Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the operating 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 who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 40% of, respectively, the then-outstanding shares of common stock (or other equity interests, in the case of an entity other than a corporation), and the combined voting power of the then-outstanding voting securities of the corporation or other entity resulting from such Business Combination (which as used in this Section 4.2.2(c) shall include, without limitation, a corporation or other entity which as a result of such transaction owns 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 Outstanding Company Voting Securities, as the case may be, and (B) no Person (excluding any corporation or other entity 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, 30% or more of, respectively, the then outstanding shares of common stock (or other equity interests, in the case of an entity other than a corporation) of the corporation or other entity resulting from such Business Combination, or the combined voting power of the then-outstanding voting securities of such corporation or other entity.

 

provided, however, that as used in Section 4.3 and Article 5, a “Change-in-Control of the Company” shall be deemed to occur only if any of the foregoing events occur and such event that occurs is a “change in the ownership or effective control of a corporation, or a change in the ownership of a substantial portion of the assets of a corporation” as defined in Treasury Reg. § 1.409A-3(i)(5).

4.2.3. “Date of Termination” shall mean the date of Executive’s “separation from service” with the Company, as determined under Treasury Reg. § 1.409A-1(h).

 

4.2.4. “Disability” shall mean Executive’s absence from the full-time performance of his duties with the Company for more than 180 days during a 365 day period as a result of incapacity due to mental or physical illness, as a result of which Executive is deemed 

 

  

8

  

 

“disabled” by the institution appointed by the Company to administer its long-term disability plan (or any successor plan).

 

4.2.5. “Good Reason” shall mean any material breach of this Agreement by the Company and/or the occurrence of any one or more of the following without Executive’s prior express written consent:  (i) a material diminution in Executive’s authority, duties or responsibility from those in effect as of the Effective Date (including, without limitation, (x) the failure to appoint Executive to the position of Chairman of the Board, as provided in Section 1.5, or (y) the removal or failure to reappoint Executive to the position of Chairman of the Board at any time during the Term); (ii) a requirement that Executive report to any person or entity other than the Board; (iii) in connection with a Change-in-Control of the Company (or in connection with any other Business Combination, as defined in Section 4.2.2(c), or any other transfer or other disposition of the Company’s stock, without regard to whether such Business Combination or transfer of the Company’s stock qualifies as a Change-in-Control of the Company), in which either the Company is not the surviving entity or the stock or assets of the Company are acquired by another entity, Executive not being appointed as Chief Executive Officer and Chairman of the Board of the surviving or acquiring entity; (iv) a material change in Executive’s office location (it being agreed that as of the Effective Date such office location shall be deemed to be Tewksbury, Massachusetts); provided, however, that a termination for Good Reason by Executive can occur only if (a) Executive has given the Company a notice of the existence of a condition giving rise to Good Reason within 90 days after the initial occurrence of the condition giving rise to Good Reason and (b) the Company has not cured the condition giving rise to Good Reason within 30 days after receipt of such notice.  A termination for Good Reason shall occur 30 days after the end of such 30-day cure period.

 

4.2.6. A “Potential Change-in-Control Period” shall be deemed to exist (A) commencing upon the date on which the Company shall have announced that it has entered into a merger, acquisition or similar agreement, the consummation of which would result in the occurrence of a Change-in-Control of the Company and ending on the earlier of (x) the date on which the transaction governed by such agreement has been consummated or (y) the Company shall have announced that it has terminated such agreement, or (B) commencing on the date on which any Person (as defined in Section 4.2.2(a)) shall publicly announce an intention to take actions which if consummated would constitute a Change-in-Control of the Company and ending on the earlier of (x) the date on which such actions have caused the consummation of a Change-in-Control of the Company or (y) such Person shall publicly announce the termination of its intentions to take such actions.

 

4.2.7. “Pro Ration Percentage” shall mean the amount, expressed as a percentage, equal to the number of days in the then current fiscal year through the date that Executive’s employment with the Company terminates, divided by 365.

 

4.2.8. “Termination Bonus Amount” shall mean the greater of (i) Executive’s highest Annual Incentive Bonus earned in the two most recent full fiscal years preceding the date the Executive’s employment with the Company terminates, or (ii) One Hundred Percent (100%) of Executive’s Base Salary in effect as of the date the Executive’s employment with the Company terminates.

 

4.3. Adjustments Upon Termination.

 

4.3.1. Death or Disability.  If during the Term, Executive’s employment with the Company terminates pursuant to Section 4.1.1 or Section 4.1.2, subject to Section 4.6, the 

 

 

  

9

  

 

Company shall pay to Executive or Executive’s heirs, successors or legal representatives, as the case may be, Executive’s Base Salary in effect as of the date Executive’s employment with the Company terminates (less, in the case of a termination of employment as a result of Disability, the amount of any payments made to the Executive under any long-term disability plan of the Company).  Such payments shall be made over the 12-month period that commences on the Date of Termination; provided, that if termination of employment due to death or Disability occurs within twelve (12) months after a Change-in-Control of the Company, the total of such payments shall be made in a lump sum within 30 days following the Date of Termination.  Notwithstanding any provision to the contrary in any Avid stock plan, or under the terms of any grant, award agreement or form for exercising any right under any such plan (including, without limitation, the agreements evidencing the Stock Option and the Restricted Stock Grant), any stock options, restricted stock awards, stock appreciation rights or other equity participation rights held by Executive as of the date of death or Disability shall become exercisable or vested, as the case may be, with respect to all time-based awards as to an additional number of shares equal to the number that would have been exercisable or vested as of the end of the 12 month period immediately following the date of death or Disability, but all performance-based vesting awards that have not vested as of such date of death or Disability shall be forfeited as of such date.

 

4.3.2. With Cause or Without Good Reason.  If Executive’s employment with the Company terminates pursuant to Section 4.1.3 or Section 4.1.5, (a) all payments and benefits provided to Executive under this Agreement shall cease as of the date Executive’s employment with the Company terminates, except that Executive shall be entitled to any amounts earned, accrued or owing but not yet paid under Section 3.1 and any benefits due in accordance with the terms of any applicable benefits plans and programs of the Company and (b) all vesting of all stock options and restricted stock awards then held by the Executive shall immediately cease as of the date Executive’s employment with the Company terminates.

 

4.3.3. Without Cause or with Good Reason Other than during a Potential Change-in-Control Period or After a Change-in-Control of the Company.  If Executive’s employment with the Company terminates pursuant to Section 4.1.4 or Section 4.1.6, other than during a Potential Change-in-Control period or within 12 months after a Change-in-Control of the Company, subject to Section 4.6:

 

             a) within unless otherwise required by law to be paid on a different date, within thirty (30) days following the Date of Termination, the Company shall pay Executive in a lump sum in cash the sum of (i) any accrued but unpaid Base Salary through the date Executive’s employment with the Company terminates, plus (ii) the Annual Incentive Bonus for the fiscal year preceding the fiscal year in which Executive’s employment with the Company terminates, if unpaid, plus (iii) any accrued but unused vacation pay;

 

             b) the Company shall pay Executive, as severance pay, his Base Salary in effect as of the date Executive’s employment with the Company terminates, for twelve (12) months after the Date of Termination (the “Severance Pay Period”); the first installment will be paid in accordance with the Company’s usual payroll practices beginning in the payroll period first beginning after the date the release of claims described in Section 

 

 

  

10

  

 

4.6 becomes effective, provided however, if the sixty (60) day deadline described in Section 4.6 crosses into a subsequent tax year, no payment will be made before the first business day of the subsequent tax year;

 

             c) the Company shall pay Executive incentive compensation for the fiscal year in which the termination of Executive’s employment with the Company occurs in the amount of the Termination Bonus Amount (as defined above) multiplied by the sum of One Hundred Percent (100%) plus the Pro Ration Percentage; such payment will be made within ten (10) business days after the release of claims described in Section 4.6 becomes effective, provided however, if the sixty (60) day deadline described in Section 4.6 crosses into a subsequent tax year, no payment will be made before the first business day of the subsequent tax year;

 

             d) if Executive is eligible to receive and elects to continue receiving any group medical and dental insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), the Company shall reimburse the monthly COBRA premium (on a fully grossed up basis, if such reimbursement is taxable to Executive) in an amount equal to the portion of such premium that the Company pays on behalf of active and similarly situated employees receiving the same type of coverage until the earlier of (x) the end of the Severance Pay Period twelve (12) month period following the Date of Termination or (y) the date on which Executive becomes eligible to receive group medical and dental insurance benefits from another employer that are substantially equivalent (including, without limitation, equivalent as to benefits, premium costs and co-pay amounts) to those provided by the Company as of the date Executive’s employment with the Company terminates (Executive agrees to notify the Company in writing promptly upon becoming eligible to receive such group medical and dental insurance from another employer);

 

             e) the Company shall provide Executive, at the Company’s sole cost, with full executive outplacement assistance with an agency selected by Executive (and reasonably satisfactory to the Company), provided that no outplacement benefits shall be provided after the end of the second calendar year following the calendar year in which the Date of Termination occurs;

 

             f) notwithstanding any provision to the contrary in any Avid stock plan, or under the terms of any grant, award agreement or form for exercising any right under any such plan (including, without limitation, the agreements evidencing the Stock Option and the Restricted Stock Grant), any stock options, restricted stock awards, stock appreciation rights or other equity participation rights held by Executive as of the date Executive’s employment with the Company terminates become exercisable or vested, as the case may be, with respect to all time-based vesting awards as to an additional number of shares equal to the number that would have been exercisable or vested as of the end of the 12 month 

 

 

  

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period immediately following the date Executive’s employment with the Company terminates, and

 

             g) Executive shall be entitled to exercise any such options or other awards or equity participation rights until 12 months after the date Executive’s employment with the Company terminates, but all performance-based vesting awards that have not, as of such date Executive’s employment with the Company terminates, vested shall be forfeited as of such date.  No other payments or benefits shall be due under this Agreement to Executive, but Executive shall be entitled to any benefits accrued or earned in accordance with the terms of any applicable benefit plans and programs of the Company.

 

4.3.4. Without Cause or with Good Reason After a Change-in-Control of the Company.  If, within 12 months after a Change-in-Control of the Company, Executive shall terminate Executive’s employment pursuant to Section 4.1.6 or the Company shall terminate Executive’s employment pursuant to Section 4.1.4, then in any such event, subject to Section 4.6:

 

             a) The unless otherwise required by law to be paid on a different date, the Company shall pay Executive the following amounts as severance pay (and without regard to the provisions of any benefit plan) in a lump sum in cash no more than 30 days following the Date of Termination, the following amounts within ten (10) business days after the release of claims described in Section 4.6 becomes effective, provided however, if the sixty (60) day deadline described in Section 4.6 crosses into a subsequent tax year, no payment will be made before the first business day of the subsequent tax year:

 

	
  

	
(i)

	
the sum of (A) Executive’s accrued but unpaid Base Salary through the date Executive’s employment with the Company terminates, plus (B) the Annual Incentive Bonus for the fiscal year preceding the fiscal year in which Executive’s employment with the Company terminates, if unpaid, (C) the product of (x) Executive’s Termination Bonus Amount, and (y) the Pro Ration Percentage, plus (D) any accrued but unused vacation pay; and

 

	
  

	
(ii)

	
the amount equal to one and a half (1.5) times the sum of (i) Executive’s Base Salary in effect as of the date Executive’s employment with the Company terminates, plus (ii) Executive’s Termination Bonus Amount.

 

             b) if Executive is eligible to receive and elects to continue receiving any group medical and dental insurance coverage under COBRA, the Company shall reimburse the monthly COBRA premium (on a fully grossed up basis, if such reimbursement is taxable to Executive) in an amount equal to the portion of such premium that the Company pays on 

 

  

12

  

 

behalf of active and similarly situated employees receiving the same type of coverage until the earlier of (x) the end of the eighteen (18) month period following the Date of Termination or (y) the date on which Executive becomes eligible to receive group medical and dental insurance benefits from another employer that are substantially equivalent (including, without limitation, equivalent as to benefits, premiums and co-pay amounts) to those provided by the Company as of the Date of Termination (Executive agrees to notify the Company in writing promptly upon becoming eligible to receive such group medical and dental insurance from another employer);

 

             c) notwithstanding anything to the contrary in the applicable stock option or restricted stock agreement (including, without limitation, the agreements evidencing the Stock Option and the Restricted Stock Grant), the exercisability of all outstanding stock options, restricted stock awards, stock appreciation rights and other equity participation rights then held by Executive  with respect to the common stock of the Company (or securities exchanged for such common stock in connection with the Change-in-Control of the Company) shall accelerate in full and Executive shall be entitled to exercise any such options or other awards or equity appreciation rights until 18 months after the date Executive’s employment with the Company terminates; and

 

             d) the Company shall provide Executive, at the Company’s sole cost, with full executive outplacement assistance with an agency selected by Executive (and reasonably satisfactory to the Company), provided that no outplacement benefits shall be provided after the end of the second calendar year following the calendar year in which Date of Termination occurs.

 

4.3.5. Without Cause or with Good Reason During a Potential Change-in-Control Period.  If, during the existence of a Potential Change-in-Control Period, Executive shall terminate Executive’s employment pursuant to Section 4.1.6 or the Company shall terminate Executive’s employment pursuant to Section 4.1.4, then in any such event, subject to Section 4.6, Executive shall receive the payments, benefits and rights set forth in Sections 4.3.4(a), (b), (c) and (d), except that any amounts payable pursuant to Section 4.3.4(a)(ii) shall be paid over the 18-month period that commences on the Date of Termination, if such date occurs more than 30 days prior to the Change-in-Control of the Company that is the subject of the Potential Change-in-Control Period; otherwise, such amount shall be paid in a lump sum on the date that such Change-in-Control of the Company occurs.  Notwithstanding the foregoing, if the Change-in-Control of the Company (that is the subject of the Potential Change-in-Control Period) occurs more than 30 days after the Date of Termination, and payments of the amount payable pursuant to Section 4.3.4(a)(ii) have begun over an 18-month period, pursuant to the preceding sentence, the balance of the amount payable pursuant to Section 4.3.4(a)(ii) shall be paid to Executive in a lump sum on the date such Change-in-Control of the Company occurs.  in installments. The first installment will be paid in accordance with the Company’s usual payroll practices beginning in the payroll period first beginning after the date the release of claims described in Section 4.6 becomes effective, provided however, if the sixty (60) day deadline described in Section 4.6 crosses into a subsequent tax year, no payment will be made before the first business day of the subsequent tax year.  If the Change-in-Control related to the Potential Change-in-Control is consummated before the installments are completed, any 

 

 

  

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remaining installments shall be paid in a single lump sum within ten (10) days following such consummation, pursuant to Treas. Reg. Section 1.409A-3(j).

 

4.4. Gross-Up for Excess Parachute Payments.

 

4.4.1. In the event of a Change-in-Control of the Company, or other event constituting a change in the ownership or effective control of the Company or ownership of a substantial portion of the assets of the Company described in Section 280G(b)(2)(A)(i) of the United States Internal Revenue Code of 1986, as amended (the “Code”), the Company, at its sole expense, shall cause its independent auditors promptly to review all payments, accelerations, distributions and benefits that have been made to or provided to, and are to be made, or may be made, to or provided to, Executive under this Agreement, and any other agreement or plan benefiting Executive (collectively the “Original Payments”), to determine the applicability of Section 4999 of the Code to Executive in connection with such event (other than under this Section 4.4).  If the Company’s independent auditors determine that the Original Payments are subject to excise taxes under Section 4999 of the Code (the “Excise Tax”), then an additional amount shall be paid to Executive (the “Gross-Up Amount”) such that the net proceeds of the Gross-Up Amount to Executive, after deduction of the Excise Tax (including interest and penalties) upon the Gross-Up Amount, shall be equal to the Excise Tax on the Original Payments.  The Company’s independent auditors will perform the calculations in conformity with the foregoing provisions and will provide Executive with a copy of their calculations. The intent of the parties is that the Company shall be solely responsible for, and shall pay, any Excise Tax on the Original Payment(s) and Gross-Up Amount and any income and employment taxes (including, without limitation, other penalties and interest on such income and employment taxes) imposed on any Gross-Up Amount payable hereunder.  If no determination by the Company's independent auditors is made prior to the time Executive is required to file a tax return reflecting Excise Taxes on any portion of the Original Payment(s), Executive will be entitled to receive a Gross-Up Amount calculated on the basis of the Excise Tax that Executive reports in such tax return, within 30 days after the filing of such tax return. Executive agrees that, for the purposes of the foregoing sentence, Executive is not required to file a tax return until Executive has obtained the maximum number and length of filing extensions available, and Executive shall have provided a copy of the relevant portions of such tax return to the Company not less than 10 days prior to filing such tax return.

 

4.4.2. If any tax authority finally determines that a greater Excise Tax should be imposed upon the Original Payments or the Gross-Up Amount than is determined by the Company’s independent auditors or reflected in Executive’s tax returns, Executive shall be entitled to receive an additional Gross-Up Amount calculated on the basis of the additional amount of Excise Tax determined to be payable by such tax authority (including related penalties and interest) from the Company within 30 days after such determination. Executive shall cooperate with the Company as it may reasonably request to permit the Company (at its sole expense) to contest the determination of such taxing authority to minimize the amount payable under this Section 4.4.  If any tax authority finally determines the Excise Tax payable by Executive to be less than the amount taken into account hereunder in calculating the Gross-Up Amount, Executive shall repay the Company, within 30 days after Executive’s receipt of a tax refund resulting from that determination, to the extent of such refund, the portion of the Gross-Up Amount attributable to such reduction (including the refunded portion of Gross-Up Amount attributable to the Excise Tax and Federal, state and local income and employment taxes imposed on the Gross-Up Amount being repaid, less any additional income tax resulting from receipt of such refund).

 

 

  

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4.5. Section 409A.

 

4.5.1. Payments to Executive under this Article 4 shall be bifurcated into two portions, consisting of a portion that does not constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code and a portion that does constitute nonqualified deferred compensation.  Payments hereunder shall first be made from the portion, if any, that does not consist of nonqualified deferred compensation until it is exhausted and then shall be made from the portion that does constitute nonqualified deferred compensation.  However, if Executive is a “specified employee” as defined in Section 409A(a)(2)(B)(i) of the Code, the commencement of the delivery of any such payments that constitute nonqualified deferred compensation will be delayed to the date that is six (6) months and one (1) day after Executive’s Date of Termination (the “Earliest Payment Date”); provided that this sentence does not apply to payments made as a result of a termination under Section 4.1.1.  Any payments that are delayed pursuant to the preceding sentence shall be paid on the Earliest Payment Date.  The determination of whether, and the extent to which, any of the payments to be made to Executive hereunder are nonqualified deferred compensation shall be made after the application of all applicable exclusions under Treasury Reg. § 1.409A-1(b)(9).  Any payments that are intended to qualify for the exclusion for separation pay due to involuntary separation from service set forth in Treasury Reg. § 1.409A-1(b)(9)(iii) must be paid no later than the last day of the second taxable year of Executive following the taxable year of Executive in which Executive’s employment with the Company terminates.

 

4.5.2. The parties acknowledge and agree that the interpretation of Section 409A of the Code and its application to the terms of this Agreement is uncertain and may be subject to change as additional guidance and interpretations become available.  Anything to the contrary herein notwithstanding, all benefits or payments provided by the Company to Executive that would be deemed to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code are intended to comply with Section 409A of the Code.  If, however, any such benefit or payment is deemed to not comply with Section 409A of the Code, the Company and Executive agree to renegotiate in good faith any such benefit or payment (including, without limitation, as to the timing of any severance payments payable hereof) so that either (i) Section 409A of the Code will not apply or (ii) compliance with Section 409A of the Code will be achieved; provided, however, that any resulting renegotiated terms shall provide to Executive the after-tax economic equivalent of what otherwise has been provided to Executive pursuant to the terms of this Agreement; provided further, that any deferral of payments or other benefits shall be only for such time period as may be required to comply with Section 409A; and provided, further, that payments or other benefits that occur as a result of the application of this Section 4.5.2 shall themselves comply with Section 409A of the Code.

 

4.5.3. If Executive shall incur any liability under Section 409A of the Code or under any comparable state or local law, rule or regulation as a result of any payments or benefits that Executive receives from the Company (including, without limitation, any payments or benefits made or provided pursuant to Section 4.5.2), the Company shall pay Executive an amount (the “409A Gross-Up Amount”) such that the net proceeds of the 409A Gross-Up Amount to Executive, after deduction of any and all Federal, state and local taxes (including, without limitation, employment taxes, interest and penalties) upon the 409A Gross-Up Amount, shall be equal to the amount of the additional tax (and any interest and penalties) payable under Section 409A of the Code or under any comparable state or local law, rule or regulation.  The 409A Gross-Up Amount shall be payable to Executive no later than 21 days after Executive has paid such tax liability.

 

 

  

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4.6. Release.  In order to be eligible to receive any of the payments or benefits under Sections 4.3.1, 4.3.3, 4.3.4 or 4.3.5, Executive (or his personal representative, if applicable) shall be required to execute and deliver to the Company (without subsequent revocation) and allow to become effective and unrevoked, within sixty (60) days after the Date of Termination or such shorter period as the Company then provides, a binding severance and mutual release agreement in a form provided by and reasonably satisfactory to the Company which shall contain a release of claims by Executive substantially in the form attached hereto as Exhibit A.

 

Article 5.  Non-Competition and Non-Solicitation

 

5.1. Non-Competition and Non-Solicitation.  Executive acknowledges and recognizes the highly competitive nature of the businesses of the Company and accordingly agrees that while Executive is employed by the Company and for a period of the longer of (a) one year after the date Executive’s employment with the Company terminates, in the case of a termination other than within 12 months after a Change-in-Control of the Company, (b) 18 months after the date Executive’s employment with the Company terminates, in the case of a termination within 12 months after a Change-in-Control of the Company:

 

5.1.1. Executive will not perform services for or own an interest in (except for investments of not more than five percent (5%) of the total outstanding shares or other equity interests of a company or entity in which Executive does not actively participate in management) any firm, person or other entity that competes in any geographic area with the Company in the business of the development, manufacture, promotion, distribution or sale of professional or consumer film, video or audio production tools, including, but not limited to, editing, special effects, 3D, animation, live sound, broadcast or newsroom products or systems, content-creation tools, media storage or other business or services in which the Company is engaged or plans (as evidenced by consideration by the Company’s executive staff or by the Board) to engage at the time Executive’s employment with the Company terminates.

 

5.1.2. Executive will not directly or indirectly assist others in engaging in any of the activities in which Executive is prohibited to engage by Section 5.1.1.

 

5.1.3. Executive will not directly or indirectly either alone or in association with others (a) solicit, or permit any organization directly or indirectly controlled by Executive to solicit, any employee of the Company to leave the employ of the Company, or (b) solicit for employment, hire or engage as an independent contractor, or permit any organization directly or indirectly controlled by Executive to solicit for employment, hire or engage as an independent contractor, any natural person who was employed by the Company at any time; provided that this Section 5.1.3 (i) shall not apply to the solicitation, hiring or engagement of any individual  whose employment with the Company has been terminated for a period of one year or longer or whose engagement to the Company as an independent contractor has been terminated for a period of six months or longer and (ii) shall not apply to the solicitation, hiring or engagement of any individual arising from such individual’s affirmative response to a general recruitment effort carried out through a public solicitation or a general solicitation.

 

5.1.4. Executive will not directly or indirectly either alone or in association with others solicit, or permit any organization directly or indirectly controlled by Executive to solicit, any current or future customer or supplier of the Company to cease doing business in whole or in part with the Company or otherwise adversely modify his, her or its business relationship with the Company.

 

 

  

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5.2. Reasonableness of Restrictions.  It is expressly understood and agreed that (a) although Executive and the Company consider the restrictions contained in this Article 5 to be reasonable, if a final judicial determination is made by a court of competent jurisdiction that the time or territory or any other restriction contained in this Article 5 is unenforceable, such restriction shall not be rendered void but shall be deemed to be enforceable to such maximum extent as such court may judicially determine or indicate to be enforceable and (b) if any restriction contained in this Agreement is determined to be unenforceable and such restriction cannot be amended so as to make it enforceable, such finding shall not affect the enforceability of any of the other restrictions contained herein.

 

5.3. Remedies for Breach.  Executive acknowledges and agrees that the Company’s remedies at law for a breach or threatened breach of any of the provisions of this Section 5 would be inadequate and, in recognition of this fact, Executive expressly agrees that, in the event of such a breach or threatened breach, in addition to any remedies at law, the Company shall be entitled to obtain equitable relief in the form of specific performance, temporary restraining orders, temporary or permanent injunctions or any other equitable remedy which may then be available.

 

Article 6.  Miscellaneous

 

6.1. Indemnification.

 

6.1.1. Executive shall be entitled to indemnification as set forth in Article Eleventh of the Company’s Certificate of Incorporation, a copy of which has been provided to Executive.

 

6.1.2. A directors’ and officers’ liability insurance policy (or policies) shall be kept in place, during the Term and thereafter until at least the fourth anniversary of the date this Agreement is terminated for any reason, providing coverage to Executive that is no less favorable to him in any respect (including, without limitation, with respect to scope, exclusions, amounts, and deductibles) than the coverage then being provided to any other present or former officer or director of the Company.

 

6.2. Counsel Fees.  The Company shall pay to the Executive reimbursement for all legal fees and expenses incurred by Executive in disputing in good faith any issue hereunder relating to the termination of the Executive’s employment, in seeking in good faith to obtain or enforce any benefit or right provided by this Agreement or in connection with review of determinations made under Section 4.4, and any tax audit or proceeding to the extent attributable to the potential application of Section 4999 or Section 409A of the Code to any payment or benefit provided by the Company to Executive. Such reimbursement payments shall be made within 15 days after delivery of the Executive’s written requests for payment accompanied with such evidence of fees and expenses incurred as the Company reasonably may require.  Executive’s written requests for payment must be delivered to the Company within one hundred and twenty (120) days after Executive incurs such fees or expenses.

 

6.3. No Mitigation.  The Company agrees that, except as specifically set forth in Section 4.3.3(d) and Section 4.3.4(b) regarding COBRA premium reimbursement, (i) if Executive's employment is terminated during the term of this agreement, Executive is not required to seek other employment or to attempt in any way to reduce any amounts payable to Executive by the Company and (ii) the amount of any payment provided hereunder shall not be reduced by any compensation earned by Executive.

 

 

  

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6.4. Obligation of Successors.  Any successor to substantially all of the Company’s assets and business, whether by merger, consolidation, purchase of assets or otherwise, shall succeed to the rights and obligations of the Company hereunder.  As used in this Agreement, “Company” shall mean the Company as defined above and any successor to its assets and business or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law.

 

6.5. Notice.  All notices required or permitted hereunder shall be in writing and deemed effectively given (i) when delivered in person, (ii) on the third business day after mailing by registered or certified mail, postage prepaid, (iii) on the next business day after delivery to an air courier for next day delivery, paid by the sender, or (iv) when sent by telecopy or facsimile transmission during normal business hours (9:00 a.m. to 5:00 p.m.) where the recipient is located (or if sent after such hours, as of commencement of the next business day), followed within 24 hours by notification pursuant to any of the foregoing methods of delivery, in all cases addressed to the other party hereto as follows:

 

(a)           If to the Company:

 

Avid Technology, Inc.

75 Network Drive

Burlington, MA  01803

Attention:  General Counsel

Facsimile:  (978) 548-4639

(b)           If to Executive, at the latest address on the personnel records of the Company

 

or at such other address as either party shall designate to the other in accordance with this Section 6.5.

 

 

6.6. Survival.  The respective rights and obligations of the parties under this Agreement shall survive any termination of Executive’s employment to the extent necessary to the intended preservation of such rights and obligations.  Notwithstanding the termination of this Agreement or Executive’s services hereunder for any reason, Article 5 shall survive any such termination.

 

6.7. Complete Agreement; Amendments.  This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes any and all prior agreements between the parties with respect to the subject matter hereof, including but not limited to the Prior Agreement; provided however, nothing in this Agreement shall change the terms of any equity grant made to Executive before the date of this Agreement.   This Agreement may not be modified or amended except upon written amendment approved by the Compensation Committee of the Board, and executed by a duly authorized officer of the Company and by Executive.  No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any time prior or subsequent time.

 

6.8. Applicable Law.  This Agreement shall be interpreted in accordance with the laws of the Commonwealth of Massachusetts (without reference to the conflicts of laws provisions thereof) and the parties hereby submit to the jurisdiction of the courts of that state.

 

 

  

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6.9. Waiver of Jury Trial.  Executive hereby irrevocably waives any right to a trial by jury in any action, suit, or other legal proceeding arising under or relating to any provision of this Agreement.

 

6.10. Severability.   If any non-material provision of this Agreement shall be held invalid or unenforceable, it shall be deemed to be deleted or qualified so as to be enforceable or valid to the maximum extent permitted by law, and the remaining provisions shall continue in full force and effect.

 

6.11. Binding Effect.  This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, administrators, legal representatives, successors, assigns and personal representatives, except that the duties, responsibilities and rights of Executive under this Agreement are of a personal nature and shall not be assignable or delegatable in whole or in part by Executive, except to the extent that the rights of Executive hereunder may be enforceable by his heirs, executors, administrators or legal representatives.  If Executive should die while any amounts would still be payable to Executive hereunder if Executive had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to Executive’s devisee, legatee or other designee or, if there be no such designee, to Executive’s estate.

 

6.12. Captions.  Captions of sections have been added only for convenience and shall not be deemed to be a part of this Agreement.

 

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

 

6.14. Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one in the same instrument.

 

6.15. Further Assurances.  Each party hereto agrees to furnish and execute such additional forms and documents, and to take such further action, as shall be reasonable and customarily required in connection with the performance of this Agreement or the payment of benefits hereunder.

 

IN WITNESS WHEREOF, the undersigned have duly executed and delivered this Agreement as of the date first above written.

 

 

	 	
Avid Technology, Inc.

	 
	 	 	 	 
	 	By: 	/s/ Ken Sexton  	 
	 	 	Ken Sexton  	 
	 	 	
Executive Vice President, Chief Financial Officer

	 
	 	 	
and Chief Administrative Officer

(Principal Financial Officer) 

 

	 	 	 
	 	 	 	 
	
 

	 	/s/ Gary G. Greenfield 	 
	 	 	
Gary G. Greenfield

	 
	 	 	 	 
	 	 	 	 

 

 

 

  

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EXHIBIT A

RELEASE OF CLAIMS PROVISIONS

           This General Release of Claims (the "General Release") is being executed by Gary G. Greenfield ("Executive"), for and in consideration of certain amounts payable under the Executive Employment Agreement (the "Agreement") originally entered into between him and Avid Technology, Inc. (the "Company") on December 17, 2007 and as amended and restated on December 20, 2010 and March 14, 2011, and is conditioned upon the Company’s release of Executive, in such form as is reasonably satisfactory to the Company, of any and all claims with respect to acts or omissions on the part of Executive that occurred prior to the date that Executive executes this General Release.  Executive agrees as follows:

           Executive, on behalf of himself and his agents, heirs, executors, administrators, successors and assigns, hereby releases and forever discharges the Company, and any and all of the affiliates, stockholders, officers, directors, employees, agents, counsel, and successors and assigns of the Company, from any and all complaints, claims, demands, damages, lawsuits, actions, and causes of action which he has or may have against any one or more of them by reason of any event, matter, cause or thing which has occurred prior to the date this General Release is executed by Executive arising from or related to his employment with the Company, or the termination of that employment, including but not limited to: all employment discrimination claims under Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e et seq., the Age Discrimination in Employment Act, 29 U.S.C. § 621 et seq., the Americans With Disabilities Act of 1990, 42 U.S.C., § 12101 et seq., the Equal Pay Act of 1963, 29 U.S.C. § 206(d), the Family and Medical Leave Act, 29 U.S.C. § 2601 et seq., the Massachusetts Fair Employment Practices Act, M.G.L. c.151B, §1 etseq., and any and all other similar applicable federal and state statutes, all as amended; all claims arising out of Section 806 of the Corporate and Criminal Fraud Accoutability Act of 2002, 18 U.S.C. § 1681 et seq., the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq., the Employee Retirement Income Security Act of 1974 (“ERISA”), 29 U.S.C. § 1001 et seq., and the Worker Adjustment and Retraining Notification Act, 29 U.S.C. §2101 etseq., all as amended; all claims under the Massachusetts Civil Rights Act, M.G.L. c.12 §§11H and 11I, the Massachusetts Equal Rights Act, M.G.L. c.93 §102 and M.G.L. c.214, §1C, the Massachusetts Labor and Industries Act, M.G.L. c. 149, §1 etseq., the Massachusetts Privacy Act, M.G.L. c.214, §1B and the Massachusetts Maternity Leave Act , M.G.L. c. 149, §105(d), all as amended; all common law claims including, but not limited to, actions in tort, defamation and breach of contract; all claims to any non-vested ownership interest in the Company, contractual or otherwise, including but not limited to claims to stock or stock options; and any claim or damage (including a claim for retaliation) under any common law theory or any federal, state or local statute or ordinance not expressly referenced above; provided, however, that nothing in this Agreement prevents the Executive from filing, cooperating with, or participating in any proceeding before the EEOC or a state Fair Employment Practices Agency (except that the Executive acknowledges that he may not be able to recover any monetary benefits in connection with any such claim, charge or proceeding), and provided further, however, that nothing herein is intended to be construed as releasing the Company from any obligation set forth in this Agreement.  Executive further hereby irrevocably and unconditionally waives any and all rights to recover any relief and damages concerning the claims that are lawfully released in this Paragraph.  Executive represents and warrants that he has not previously filed or joined in any such claims against the Company or any of its affiliates or subsidiaries, and that he has not given or sold any portion of 

 

 

  

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any claims released herein to anyone else, and that he will indemnify and hold harmless the persons and entities released herein from all liabilities, claims, demands, costs, expenses and/or attorneys' fees incurred as a result of any such assignment or transfer.

           Executive acknowledges that this is a General Release, and he agrees and understands that he is specifically releasing all claims under the Age Discrimination in Employment Act, 29 U.S.C. § 621 et seq, as amended by the Older Workers Benefit Protection Act.  Executive acknowledges that he has read and understands the foregoing General Release and executes it voluntarily and without coercion.  He further acknowledges that he is being advised herein in writing to consult with an attorney prior to executing this General Release, and that he has had more than 21 days within which to consider this General Release.  Executive understands that he has seven days following his execution of this General Release to revoke it in writing, and that this General Release is not effective or enforceable until after this seven-day period.  For such revocation to be effective, notice must be received by ________, at the principal office of the Company, no later than 11:59 p.m. on the seventh calendar day after the date on which Executive has signed this General Release.  Executive expressly agrees that, in the event he revokes this General Release, the Company shall not be obligated to pay him any amounts the payment of which is expressly conditioned under the Agreement on the effectiveness of this General Release.

           Notwithstanding any other provision of this General Release to the contrary or potentially interpretable to the contrary, it is expressly agreed and understood that the Executive is not releasing hereunder (i) any rights or potential claims for indemnification as otherwise available to Executive as an officer, director, agent or in any other capacity, (ii) any rights or potential claims with respect to any event, matter, cause or thing which occurs after the date that Executive executes this General Release, including without limitation, any such rights or potential claims which arise after the date that Executive executes this General Release with respect to the Agreement or with respect to any other agreement to which the Company and Executive are parties, or (iii) any claims for benefits under employee benefit plans.

  

21

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