Document:

<PAGE>

                     NATIONAL COMMERCE FINANCIAL CORPORATION
                     ---------------------------------------
                                 RETIREMENT PLAN
                                 ---------------

                        As Amended and Restated Effective
                                 August 1, 2001
                                 --------------

<PAGE>

                                TABLE OF CONTENTS
                                -----------------

<TABLE>
<CAPTION>
SECTION                                                                                                       PAGE
-------                                                                                                       ----
<S>                                                                                                           <C>
1    DEFINITIONS:  PARTICIPATION............................................................................   1-1
      1.1     DEFINITIONS...................................................................................   1-1
      1.2     PARTICIPATION.................................................................................  1-17
      1.3     LEAVE OF ABSENCE AND TERMINATION OF SERVICE...................................................  1-18
      1.4     REEMPLOYMENT..................................................................................  1-19
      1.5     TRANSFER TO OR FROM STATUS AS AN ELIGIBLE EMPLOYEE............................................  1-24
      1.6     PARTICIPATION AND BENEFITS FOR FORMER LEASED EMPLOYEES........................................  1-27
      1.7     RIGHT'S OF OTHER EMPLOYERS TO PARTICIPATE.....................................................  1-27

2.   NORMAL AMOUNT AND PAYMENT OF RETIREMENT INCOME.........................................................   2-1
      2.1     NORMAL RETIREMENT AND RETIREMENT INCOME.......................................................   2-1
      2.2     EARLY RETIREMENT AND RETIREMENT INCOME........................................................   2-5
      2.3     DISABILITY RETIREMENT AND RETIREMENT INCOME...................................................   2-7
      2.4     BENEFITS OTHER THAN ON RETIREMENT.............................................................

3.   SPECIAL PROVISIONS REGARDING PAYMENT OF BENEFITS.......................................................   3-1
      3.1     OPTIONAL FORMS OF RETIREMENT INCOME...........................................................   3-1
      3.2     LUMP-SUM PAYMENT OF SMALL RETIREMENT INCOME...................................................   3-4
      3.3     BENEFITS APPLICABLE TO PARTICIPANT WHO HAS BEEN OR IS EMPLOYED BY TWO OR MORE EMPLOYERS.......   3-4
      3.4     NO DUPLICATION OF BENEFITS....................................................................   3-4

4    GOVERNMENTAL REQUIREMENTS AFFECTING BENEFITS...........................................................   4-1
      4.1     SPECIAL PROVISIONS REGARDING AMOUNT AND PAYMENT OF RETIREMENT INCOME..........................   4-1
      4.2     LIMITATIONS ON BENEFITS REQUIRED BY THE INTERNAL REVENUE SERVICE..............................   4-9
      4.3     BENEFITS NOFORFEITABLE IF PLAN IS TERMINATED..................................................  4-11
      4.4     MERGER OF PLAN................................................................................  4-11
      4.5     TERMINATION OF PLAN AND DISTRIBUTION OF TRUST FUND............................................  4-11
      4.6     SPECIAL PROVISIONS THAT APPLY IF PLAN IS TOP-HEAVY............................................  4-14

5.   MISCELLANEOUS PROVISIONS REGARDING PARTICIPANTS........................................................   5-1
      5.1     PARTICIPANTS TO FURNISH REQUIRED INFORMATION..................................................   5-1
      5.2     BENEFICIARIES.................................................................................   5-1
      5.3     CONTINGENT BENEFICIARIES......................................................................   5-3
      5.4     PARTICIPANT'S RIGHTS IN TRUST FUND............................................................   5-3
      5.5     BENEFITS NOT ASSIGNABLE.......................................................................   5-4
      5.6     BENEFITS PAYABLE TO MINORS AND INCOMPETENTS...................................................   5-4
      5.7     CONDITIONS OF EMPLOYMENT NOT AFFECTED BY PLAN.................................................   5-5
</TABLE>

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<PAGE>

<TABLE>
<S>                                                                                                            <C>
      5.8     NOTIFICATION OF MAILING ADDRESS...............................................................   5-5
      5.9     WRITTEN COMMUNICATIONS REQUIRED...............................................................   5-5
      5.10    BENEFITS PAYABLE AT OFFICE OF TRUSTEE.........................................................   5-6
      5.11    APPEAL TO COMMITTEE...........................................................................   5-6

6.   MISCELLANEOUS PROVISIONS REGARDING THE EMPLOYER........................................................   6-1
      6.1     CONTRIBUTIONS.................................................................................   6-1
      6.2     EMPLOYER'S CONTRIBUTIONS IRREVOCABLE..........................................................   6-1
      6.3     FORFEITURES...................................................................................   6-1
      6.4     AMENDMENT OF PLAN.............................................................................   6-2
      6.5     TERMINATION OF PLAN...........................................................................   6-3
      6.6     EXPENSES OF ADMINISTRTION.....................................................................   6-3
      6.7     FORMAL ACTION BY EMPLOYER.....................................................................   6-3

7.   ADMINISTRATION.........................................................................................   7-1
      7.1     ADMINISTRATION BY COMMITTEE...................................................................   7-1
      7.2     OFFICERS AND EMPLOYEES OF COMMITTEE...........................................................   7-1
      7.3     ACTION BY COMMITTEE...........................................................................   7-1
      7.4     RULES AND REGULATIONS OF COMMITTEE............................................................   7-2
      7.5     POWERS OF COMMITTEE...........................................................................   7-2
      7.6     DUTIES OF COMMITTEE...........................................................................   7-2
      7.7     INDEMNIFICATION OF MEMBERS OF COMMITTEE.......................................................   7-4
      7.8     ACTUARY.......................................................................................   7-4
      7.9     FIDUCIARIES...................................................................................   7-4
      7.10    APPLICABLE LAW................................................................................   7-5

8.   TRUST FUND.............................................................................................   8-1
      8.1     PURPOSE OF TRUST FUND.........................................................................   8-1
      8.2     BENEFITS SUPPORTED ONLY BY TRUST FUND.........................................................   8-1
      8.3     TRUST FUND APPLICABLE ONLY TO PAYMENT OF BENEFITS.............................................   8-1
</TABLE>

                                      -ii-

<PAGE>

                     NATIONAL COMMERCE FINANCIAL CORPORATION
                     ---------------------------------------
                                 RETIREMENT PLAN
                                 ---------------

                As Amended and Restated Effective August 1, 2001
                                  INTRODUCTION
                                  ------------

     National Bank of Commerce maintains the Retirement Plan for Employees of
National Bank of Commerce, Memphis Tennessee pursuant to an amended and restated
plan document effective as of January 1, 1989, which has been subsequently
amended (the "NBC Retirement Plan"). The NBC Retirement Plan was originally
adopted by National Bank of Commerce, Memphis, Tennessee, (formerly National
Bank of Commerce of Memphis effective July 1, 1951. National Bank of Commerce
has assigned the primary sponsorship of the NBC Retirement Plan to its parent
corporation, National Commerce Financial Corporation (the "Primary Sponsor").

     CCB Financial Corporation previously maintained the CCB Financial
Corporation Retirement Plan pursuant to an amended and restated plan document
effective as of January 1, 1987, which has been subsequently amended (the "CCB
Retirement Plan"). CCB Financial Corporation merged with and into the Primary
Sponsor and by virtue of such merger, the Primary Sponsor is the primary sponsor
of the CCB Retirement Plan.

The Primary Sponsor wishes to merge the CCB Retirement Plan and the NBC
Retirement Plan (cllectively, the "Merged Plans") and to rename the resulting
plan as the "National Commerce Financial Corporation Retirement Plan" (the
"Plan"), effective generally August 1, 2001 and to make such other changes as
may be required by law, rulings and regulations, effective as of such earlier
date as may be necessary to comply with such law, rulings and regulations. The
provisions of this document shall apply only with respect to participants who
perform an Hour of Service (as defined in the Plan) after August 1, 2001, except
to the extent the provisions are required to apply at another date or to any
other participants to comply with applicable law.

This merged and restated Plan is intended to bring all of the Merged Plans into
compliance with the requirements of the Uruguay Round Agreements Act (also known
as the General Agreement on Tariffs and Trade) ("GATT"), the Uniformed Services
Employment and Reemployment Rights Act of 1994 ("USERRA"), the Small Business
Job Protection Act of 1986 ("SBJPA"), the Taxpayer Relief Act of 1997
("TRA'97"), and the Internal Revenue Service Restructuring and Reform Act of
1998 ("RRA'98"), collectively known as "GUST," within the remedial amendment
period under Code Section 401(b).

                                       1

<PAGE>

                                    SECTION 1
                                    ---------

                           DEFINITIONS: PARTICIPATION
                           --------------------------

1.1  DEFINITIONS
     -----------

     (A)  The following terms as used herein shall have the meanings stated
below unless a different meaning is plainly required by the context:

     (1)  "Accrued Benefit" shall mean the monthly retirement income, payable in
          the manner described in Section 2.1(C) hereof commencing at the
          Participant's Normal Retirement Date, which the Participant has
          accrued as of a given date. The Accrued Benefit shall be equal to the
          monthly retirement income to which the Participant would have been
          entitled on his Normal Retirement Date in accordance with the
          provisions of Section 2.1(B) hereof (before applying the maximum
          restrictions imposed by Section 415 of the Internal Revenue Code) but
          using his Final Average Monthly Compensation and Credited Service
          determined as of such given date.

          Notwithstanding the foregoing,

          (a)  the Accrued Benefit of a NBC Retirement Plan Participant who as
               of July 15, 1996 had not (i) attained age 55 with 5 Years of
               Credited Service or (ii) attained age 50 with 10 Years of
               Credited Service, shall not be less than such Participant's
               accrued benefit under the NBC Retirement Plan as of July 14,
               1996.

          (b)  the Accrued Benefit of a CCB Retirement Plan Participant, shall
               not be less than the benefit which the Participant would have
               accrued under the CCB Retirement Plan as of December 31, 2001
               (based on the assumption that such plan continued in effect
               without regard to the merger of such plan into the Plan).

          (c)  the Accrued Benefit payable to a Participant who was a 401(a)(17)
               Participant on January 1, 1988 shall not be less than the sum of:

               (i)  the Participant's Accrued Benefit as of December 31, 1988,
                    under the CCB Retirement Plan or the NBC Retirement Plan, as
                    applicable, frozen in accordance with Section 1.401(a)(4)-13
                    of the regulations, and

               (ii) the Participant's Accrued Benefit determined with respect to
                    the benefit formula applicable for the plan year beginning
                    January 1, 1988 as stated in the NBC Retirement Plan or CCB
                    Retirement

                                       1-1

<PAGE>

                    Plan, as applicable, as applied to the years of service
                    credited to the Employee for plan years beginning on or
                    after January 1, 1988.

               For the purposes of this subsection (c), "401(a)(17) Participant"
               shall mean a Participant whose Accrued Benefit as of January 1,
               1988 is based on Compensation for a year beginning prior to
               January 1, 1988 that exceeded $200,000.

          (d)  the Accrued Benefit payable to a Participant who was a 401(a)(17)
               Participant on January 1, 1994 shall not be less than the sum of:

               (i)  the Participant's Accrued Benefit as of December 31, 1993,
                    under the CCB Retirement Plan or the NBC Retirement Plan, as
                    applicable, frozen in accordance with Section 1.401(a)(4)-13
                    of the regulations, and

               (ii) the Participant's Accrued Benefit determined with respect to
                    the benefit formula applicable for the plan year beginning
                    January 1, 1994 as stated in the NBC Retirement Plan or CCB
                    Retirement Plan, as applicable, as applied to the years of
                    service credited to the Employee for plan years beginning on
                    or after January 1, 1994.

               For the purposes of this subsection (d), "401(a)(17) Participant"
               shall mean a Participant whose Accrued Benefit as of January 1,
               1994 is based on Compensation for a year beginning prior to
               January 1, 1994 that exceeded $150,000.

     (2)  "Annuity Starting Date" shall have the meaning assigned in Section
          417(f) of the Internal Revenue Code and regulations issued with
          respect thereto and shall be the first day of the first period for
          which an amount is payable (not the actual date of payment) as an
          annuity or any other form. Any auxiliary disability benefits shall be
          disregarded in determining the Annuity Starting Date.

          Unless otherwise qualified by the context, the regularly scheduled
          Annuity Starting Date of a Participant shall be:

          (a)  in the case of the benefit payable under Section 2.1 or 2.2 in
               the event of his normal or early retirement, the first day of the
               month coincident with or next following the date of his
               retirement;

          (b)  in the case of the benefit payable under Section 2.3 in the event
               of his disability retirement, the date as of which his disability
               retirement income payments are scheduled to start under Section
               2.3(F); and

          (c)  in the case of the benefit payable under Section 2.4(A) in the
               event of termination of service with a vested benefit, the
               Participant's Normal

                                       1-2

<PAGE>

               Retirement Date or, if applicable, the first day of the month
               prior to his Normal Retirement Date that the Participant has
               elected in accordance with the provisions of Section 2.4(A) to
               start receiving the benefits to which he is entitled under such
               section;

          provided, however, if the Participant elects pursuant to the
          provisions of Section 3.1 hereof a later commencement date, his
          Annuity Starting Date shall be such later date of commencement
          specified in his election, or, if the Participant continues in the
          service of the Employer beyond his Required Beginning Date, his
          Annuity Starting Date shall be his Required Beginning Date.

     (3)  "Beneficiary" shall mean the person or persons on whose behalf
          benefits may be payable under the Plan after a Participant's death.

     (4)  "Break in Service" shall mean the failure of an Employee to complete
          more than 500 Hours of Service in any Plan Year.

     (5)  "CCB Retirement Plan Participant" means any Participant who was a
          participant in the CCB Retirement Plan.

     (6)  "Committee" shall mean the Administrative Committee appointed from
          time to time to administer the Plan pursuant to the provisions of
          Section 7.1 hereof.

     (7)  "Compensation" shall mean the sum of:

          (a)  the amounts actually paid to an Employee by the Employer for
               services rendered, as reported on the Employee's Federal income
               tax withholding statement (Form W-2 or its subsequent equivalent)
               for the applicable calendar year, exclusive, however, of
               reimbursements and other expense allowances, fringe benefits
               (cash and non-cash), moving expenses, welfare benefits, and all
               other extraordinary compensation; provided, however, that any
               such Employee who receives commissions during a calendar year
               shall have an overall Compensation limitation of $50,000 for all
               calendar years prior to 1997, $100,000 for calendar years after
               1996 and prior to 2002 and $170,000 for all calendar years after
               2001 (such limitation will be prorated for years in which the
               Employee is paid for less than 12 months, based on the number of
               months and tenths of months worked); and

          (b)  amounts, if any, that would have been included in the Employee's
               Compensation under (a) above for such calendar year if they had
               not been deferred by the Employee through a plan of deferred
               compensation under Section 401(k) of the Internal Revenue Code,
               under a salary reduction agreement pursuant to Section 125 of
               said Code, or effective January 1, 2001, pursuant to Code Section
               132(f);

                                      1-3

<PAGE>

          provided, however, that the annual compensation of each Employee taken
          into account under the plan shall not exceed the OBRA `93 annual
          compensation limit. The OBRA `93 annual compensation limit is
          $150,000, as adjusted by the Commissioner for increases in the cost of
          living in accordance with Section 401(a)(17)(B) of the Internal
          Revenue Code. The cost of living adjustment in effect for a calendar
          year applies to any period, not exceeding 12 months, over which
          compensation is determined (determination period) beginning in such
          calendar year. If a determination period consists of fewer than 12
          months, the OBRA `93 annual compensation limit will be multiplied by a
          fraction, the numerator of which is the number of months in the
          determination period, and the denominator of which is 12.

          For plan years beginning on or after January 1, 1994, any reference in
          this plan to the limitation under Section 401(A)(17) of the Internal
          Revenue Code shall mean the OBRA `93 annual compensation limit set
          forth in this provision.

          If compensation for any prior determination period is taken into
          account in determining an Employee's benefits accruing in the current
          plan year, the compensation for that prior determination period is
          subject to the OBRA `93 annual compensation limit in effect for that
          prior determination period. For this purpose, for determination
          periods beginning before the first day of the first plan year
          beginning on or after January 1, 1994, the OBRA `93 annual
          compensation limit is $150,000.

     (8)  "Controlled Group Member" shall mean:

          (a)  the Employer;

          (b)  any corporation or association that is a member of a controlled
               group of corporations (within the meaning of Section 1563(a) of
               the Internal Revenue Code, determined without regard to Section
               1563(a)(4) and Section 1563(e)(3)(C) of said Code, except that,
               for the purposes of applying the limitations on benefits and
               contributions that are required under Section 415 of the Internal
               Revenue Code and are described in Section 4. 1 (A) hereof, such
               meaning shall be determined by substituting the phrase `more than
               50%' for the phrase `at least 80%" each place that it appears in
               Section 1563(a)(1) of said Code) with respect to which the
               Employer is a member;

          (c)  any trade or business (whether or not incorporated) that is under
               common control with the Employer as determined in accordance with
               Section 414(c) of the Internal Revenue Code and regulations
               issued thereunder;

                                       1-4

<PAGE>

          (d)  any service organization that is a member of an affiliated
               service group (within the meaning of Section 414(m) of the
               Internal Revenue Code) with respect to which the Employer is a
               member; and

          (e)  any other entity required to be aggregated with the Employer
               pursuant to regulations under Section 414(o) of the Internal
               Revenue Code.

     (9)  "Covered Compensation" shall be equal to one-twelfth of the current
          "covered compensation," within the meaning of Section 401(l)(5)(E) of
          the Internal Revenue Code and regulations and rulings issued pursuant
          thereto, that applies to the Participant based upon his year of birth.
          Any changes in the amount of "covered compensation" that become
          effective after the January 1st immediately preceding the date of the
          Participant's retirement or termination of service shall be ignored.

     (10) "Credited Service" shall mean each Plan Year in which the Participant
          performs 1,000 Hours of Service. Notwithstanding anything contained
          herein to the contrary, in the case of an Employee who completes five
          consecutive Breaks in Service and at that time does not have any
          vested right in his Accrued Beneft, Credited Service shall not include
          all service before those Breaks in Service commenced. Notwithstanding
          the foregoing, the Credited Service for an NBC Retirement Plan
          Participant, shall be equal to the "Credited Service" of such
          Participant under the NBC Retirement Plan as of December 31, 2000,
          plus the Credited Service earned by such Participant for all
          subsequent Plan Years; provided, however, that with respect to the
          Plan Year ending on December 31, 2001, such Participant shall receive
          a year of Credited Service if such Participant earns a year of
          Credited Service pursuant to the first sentence of this Subsection or
          pursuant to the provisions of the NBC Retirement Plan as of July 31,
          2001.

     (11) "Designated Nonparticipating Employer" shall mean:

          (a)  any Controlled Group Member that is not an Employer; and

          (b)  any other corporation, association, proprietorship, partnership
               or other business organization that (i) is not an Employer and
               (ii) the Primary Sponsor, by formal action on its part in the
               manner described in Section 6.7 hereof, designates on the basis
               of a uniform policy applied without discrimination as a
               "Designated Nonparticipating Employer" for the purposes of the
               Plan.

     (12) "Distributee" means an Employee or former Employee. In addition, the
          Employee's or former Employee's surviving spouse and the Employee's or
          former Employee's spouse or former spouse who is the alternate payee
          under a qualified domestic relations order (as defined in Internal
          Revenue Code Section 414(p)), are Distributees with regard to the
          interest of the spouse or former spouse.

                                       1-5

<PAGE>

     (13) "Earliest Annuity Commencement Date" shall mean:

          (a)  the first day of the month coincident with or next following the
               date of termination of the Participant's service if he has
               satisfied the age and service requirements to be eligible for a
               normal or early retirement benefit under the provisions hereof as
               of such termination date; or

          (b)  the earliest date as of which the Participant could elect to
               start receiving retirement income payments under the provisions
               of Section 2.4(A) hereof if his service were terminated and he
               had not satisfied the age and service requirements to be eligible
               for a normal or early retirement benefit under the provisions
               hereof as of such termination date.

     (14) "Early Retirement Date" shall have the meaning assigned in Section 2.2
          hereof.

     (15) "Effective Date" shall mean August 1, 2001 or such later date as of
          which the Plan first became effective with respect to the particular
          Employer concerned.

     (16) "Electing CCB Retirement Plan Participant" means a CCB Retirement Plan
          Participant who (a) was employed by an Employer on August 1, 2001, (b)
          was a participant in the CCB Retirement Plan as of July 5, 2000, and
          (c) files an election with the Committee on or prior to September 25,
          2001 to continue to accrue benefits under the Plan based on the
          provisions of the CCB Retirement Plan as of July 31, 2001.

     (17) "Eligibility Service" means a six-consecutive-month period during
          which the Employee completes no less than 500 Hours of Service
          beginning on the date on which the Employee first performs an Hour of
          Service upon his employment or reemployment with the Employer or, in
          the event the Employee fails to complete 500 Hours of Service in that
          six-consecutive-month period, any six-consecutive -month period
          thereafter during which the Employee completes no less than 500 Hours
          of Service.

     (18) "Eligible Employee" means any Employee of an Employer other than an
          Employee who is (a) covered by a collective bargaining agreement
          between a union and an Employer, provided that retirement benefits
          were the subject of good faith bargaining, unless the collective
          bargaining agreement provides for participation in the Plan, (b) a
          leased Employee within the meaning of Internal Revenue Code Section
          414(n)(2) (c) deemed to be an Employee of an Employer pursuant to
          regulations under Internal Revenue Code Section 414(o), (d) employed
          at any division or branch of any Employer that is acquired by or
          merged into the Employer after the Effective Date unless the Employer,
          by formal action on its part in the manner described in Section 6.7
          hereof, provides that such persons who are employed at such division
          or branch shall, subject to the other provisions of the Plan, be
          eligible for participation in the Plan in accordance with the
          provisions hereof or (e) is a participant and is accruing benefits (or
          who, upon

                                       1-6

<PAGE>

          his satisfaction of any age and service requirements specified
          thereunder as a condition of participation, will be eligible to become
          a participant and accrue benefits) under any other qualified defined
          benefit pension plan maintained by the Employer or to which the
          Employer makes contributions on his behalf based upon his employment
          with the Employer. In addition, no person who is initially classified
          by an Employer as an independent contractor for federal income tax
          purposes shall be regarded as an Eligible Employee for that period,
          regardless of any subsequent determination that any such person should
          have been characterized as a common law Employee of the Employer for
          the period in question.

     (19) "Eligible Retirement Plan" means an individual retirement account
          described in Internal Revenue Code Section 408(a), an individual
          retirement annuity described in Internal Revenue Code Section 408(b),
          an annuity plan described in Internal Revenue Code Section 403(a) or a
          qualified trust described in Internal Revenue Code Section 401(a) that
          accepts the Distributee's Eligible Rollover Distribution. However, in
          the case of an Eligible Rollover Distribution to the surviving spouse,
          an Eligible Retirement Plan is an individual retirement account or
          individual retirement annuity.

     (20) "Eligible Rollover Distribution" means any distribution of all or any
          portion of the Distributee's benefit, except that an Eligible Rollover
          Distribution does not include: any distribution that is one of a
          series of substantially equal periodic payments (not less frequently
          than annually) made for the life (or life expectancy) of the
          Distributee or the joint lives (or joint life expectancies) of the
          Distributee and the Distributee's designated Beneficiary, or for a
          specified period of ten years or more; and any distribution to the
          extent such distribution is required under Internal Revenue Code
          Section 401(a)(9); the portion of any distribution that is not
          includable in gross income (determined without regard to the exclusion
          for net unrealized appreciation with respect to employer securities.

     (21) "Employee" shall mean any person on the payroll of the Employer whose
          wages from the Employer are subject to withholding for the purposes of
          Federal income taxes and for the purposes of the Federal Insurance
          Contributions Act.

     (22) "Employer" shall mean, collectively or distributively as the context
          may indicate, the Primary Sponsor and any other corporations,
          associations, joint ventures, proprietorships, partnerships or other
          business organizations that have adopted and are participating in the
          Plan in accordance with the provisions of Section 1.7 hereof.

     (23) "Final Average Monthly Compensation" shall mean the Participant's
          average monthly rate of Compensation from the Employer for the five
          successive calendar years, out of the 10 completed calendar years
          immediately preceding the first day of the month coincident with or
          next following the date on which his service terminates for any reason
          (or, where applicable, immediately preceding such other

                                       1-7

<PAGE>

          date as is specified hereunder), that give the highest average monthly
          rate of Compensation for the Participant.

          The Participant's average monthly rate of Compensation will be
          determined by dividing the total Compensation received by him during
          such five-calendar-year period by the number of months for which he
          received Compensation from the Employer in such five-calendar-year
          period. The number of months for which he received Compensation from
          the Employer may be computed, to the extent he was paid on other than
          a monthly basis, by determining the number of pay periods ending
          within such five-calendar-year period for which he received
          Compensation from the Employer and converting such pay periods into
          months by dividing the number thereof, if weekly, by 4-1/3, if
          biweekly, by 2-1/6, and, if semimonthly, by 2.

          In computing Final Average Monthly Compensation for a Participant who
          has returned to the active service of the Employer following a full
          calendar year or calendar years during which he did not receive any
          regular Compensation from the Employer because of a leave of absence
          granted by the Employer or because of his reemployment with a
          reinstatement of his prior Vesting Service and Credited Service as
          described in Section 1.4 hereof, such full calendar year or calendar
          years during which he did not receive any regular Compensation from
          the Employer shall be ignored or excluded in determining the 10
          completed calendar years and the five successive calendar years to be
          used in determining the Participant's Final Average Monthly
          Compensation at a subsequent date.

          Anything above to the contrary notwithstanding, if a Participant's
          service is terminated for any reason and he has not received any
          Compensation during any preceding calendar years, his "Final Average
          Monthly Compensation" shall mean his average monthly rate of
          Compensation received from the Employer during the calendar year in
          which his service was terminated. Such average monthly rate of
          Compensation will be determined in accordance with the procedure
          described above, based upon the total Compensation that he received
          and the number of months for which he received Compensation from the
          Employer during such calendar year.

     (24) "Fiduciary" shall mean each named Fiduciary and any other person who
          exercises or has any discretionary authority or control regarding
          management or administration of the Plan, any other person who renders
          investment advice for a fee or has any authority or responsibility to
          do so with respect to any assets of the Plan, or any other person who
          exercises or has any authority or control respecting management or
          disposition of assets of the Plan.

     (25) "Fund" shall mean the amount at any given time of cash and other
          property held by the Trustee pursuant to the Plan.

                                       1-8

<PAGE>

     (26) "Highly Compensated Employee" shall mean an Employee who is a `highly
          compensated Employee' within the meaning of Section 414(q) of the
          Internal Revenue Code and regulations issued with respect thereto.

     (27) "Hour of Service" shall mean:

          (a)  Each hour for which an Employee is paid, or entitled to payment,
               for the performance of duties for a Employer or any Controlled
               Group Member during the applicable computation period, and such
               hours shall be credited to the computation period in which the
               duties are performed;

          (b)  Each hour for which an Employee is paid, or entitled to payment,
               by a Employer or any Controlled Group Member on account of a
               period of time during which no duties are performed (irrespective
               of whether the employment relationship has terminated) due to
               vacation, holiday, illness, incapacity (including disability),
               layoff, jury duty, military duty or leave of absence;

          (c)  Each hour for which back pay, irrespective of mitigation of
               damages, is either awarded or agreed to by a Employer or any
               Controlled Group Member, and such hours shall be credited to the
               computation period or periods to which the award or agreement for
               back pay pertains rather than to the computation period in which
               the award, agreement or payment is made; provided, that the
               crediting of Hours of Service for back pay awarded or agreed to
               with respect to periods described in Subsection (b) of this
               Section shall be subject to the limitations set forth in
               Subsection (g);

          (d)  Solely for purposes of determining whether a Break in Service has
               occurred, each hour during any period that the Employee is absent
               from work (1) by reason of the pregnancy of the Employee, (2) by
               reason of the birth of a child of the Employee, (3) by reason of
               the placement of a child with the Employee in connection with the
               adoption of the child by the Employee, or (4) for purposes of
               caring for a child for a period immediately following its birth
               or placement. The hours described in this Subsection (d) shall be
               credited (A) only in the computation period in which the absence
               from work begins, if the Employee would be prevented from
               incurring a Break in Service in a year solely because of the
               credit, or (B), in any other case, in the next following
               computation period;

          (e)  Solely for purposes of determining whether a Break in Service has
               occurred each hour during any period that the Employee is absent
               from work during an approved leave of absence or during military
               leave that is included in determining Vesting Service;

          (f)  Without duplication of the Hours of Service counted pursuant to
               Subsection (d) or (e) hereof and solely for such purposes as
               required

                                       1-9

<PAGE>

               pursuant to the Family and Medical Leave Act of 1993 and the
               regulations thereunder (the "Act"), each hour (as determined
               pursuant to the Act) for which an Employee is granted leave under
               the Act (1) for the birth of a child, (2) for placement with the
               Employee of a child for adoption or foster care, (3) to care for
               the Employee's spouse, child or parent with a serious health
               condition, or (4) for a serious health condition that makes the
               Employee unable to perform the functions of the Employee's job;

          (g)  The Committee shall determine Hours of Service from the
               employment records of a Employer, or in any other manner
               consistent with regulations promulgated by the Secretary of
               Labor, and shall construe any ambiguities in favor of crediting
               Employees with Hours of Service. In no event shall an Employee be
               credited with more than 501 Hours of Service during any single
               continuous period during which he performs no duties for the
               Employer or an Controlled Group Member; or

          (h)  In the event that a Employer or an Controlled Group Member
               acquires substantially all of the assets of another corporation
               or entity or a controlling interest of the stock of another
               corporation or merges with another corporation or entity and is
               the surviving entity, then service of an Employee who was
               employed by the prior corporation or entity and who is employed
               by the Employer or a Controlled Group Member at the time of the
               acquisition or merger shall be counted in the manner provided,
               with the consent of the Primary Sponsor, in resolutions adopted
               by the Employer authorizing the counting of such service.

     (28) "Initial Vesting Date" shall mean the earlier to occur of the
          following dates:

          (a)  the date on which the Participant has completed five years of
               Vesting Service; or

          (b)  the date on which the Participant attains his Normal Retirement
               Age;

          provided, however, that the provisions of Section 4.6 hereof shall
          apply in determining the Initial Vesting Date of a Participant who has
          accrued Vesting Service during any Plan Year that the Plan is
          top-heavy; and provided further that the Initial Vesting Date of a
          Participant shall not be earlier than the Effective Date.

     (29) "Internal Revenue Code" shall mean the Internal Revenue Code of 1986,
          as now or hereafter amended from time to time.

     (30) "Investment Committee" shall mean a committee which may be established
          to direct the Trustee with respect to investments of the Fund.

                                      1-10

<PAGE>

     (31) "Investment Manager" shall mean a Fiduciary, other than the Trustee,
          the Committee or a Employer, which may be appointed by the Primary
          Sponsor:

          (a)  who has the power to manage, acquire, or dispose of any assets of
               the Fund or a portion thereof; and

          (b)  who (1) is registered as an investment adviser under the
               Investment Advisers Act of 1940; (2) is a bank as defined in that
               Act; or (3) is an insurance company qualified to perform services
               described in Subsection (a) of this Section under the laws of
               more than one state; and

          (c)  who has acknowledged in writing that he is a Fiduciary with
               respect to the Plan.

     (32) "NBC Retirement Plan Participant" shall mean a Participant who was a
          participant in the NBC Retirement Plan.

     (33) "Normal Retirement Age" shall mean age 65 years.

     (34) "Normal Retirement Date" shall have the meaning assigned in Section
          2.1 hereof.

     (35) "Participant" shall mean:

          (a)  any active Employee who has satisfied the requirements of Section
               1.2 hereof,

          (b)  any former Employee who has satisfied the requirements of Section
               1.2 hereof, whose service has not been terminated but who has
               subsequently been transferred from his status as an eligible
               Employee as described in Section 1.5 hereof, and

          (c)  any retired or terminated Employee who has vested rights to
               benefits under the provisions of the Plan.

     (36) "Postponed Retirement Date" shall have the meaning assigned in Section
          2.1 hereof.

     (37) The "PEP Benefit" is the lump-sum benefit payable to a Participant
          upon termination or retirement determined as follows

          (a)  for any Employee who became a NBC Retirement Plan Participant on
               or after July 15, 1996 or who was not a CCB Retirement Plan
               Participant and became a Participant in the Plan on or after
               August 1, 2001 the PEP Benefit shall equal the product of;

                                      1-11

<PAGE>

               (i)  The cumulative sum of the Participant's Benefit Percentages
                    (determined using the table below) based on years and months
                    of Credited Service,

                    Multiplied By

               (ii) The Participant's Final Average Monthly Compensation as of
                    his date of termination or retirement multiplied by 12.

                        Years of
                    Credited Service                      Percentages
                    ----------------                     ------------
                        1 to 5                            2% per year
                        6 to 10                           4% per year
                       11 to 20                           6% per year
                       21 to 30                           8% per year
                       31 or more                        10% per year

               The percentage is prorated for partial years by crediting 1/12th
               for each completed month of Credited Service.

          (b)  For any Participant who was a NBC Retirement Plan Participant as
               of July 14, 1996, the greater of (i) or (ii) below:

               (i)  The product of:

                    I.   The cumulative sum of the Participant's Benefit
                         Percentages (determined using the table below) based on
                         years and months of Credited Service,

                         Multiplied By

                    II.  The Participant's Final Average Monthly Compensation as
                         of his date of termination or retirement multiplied by
                         12.

                         Years of
                    Credited Service                      Percentages
                    ----------------                     ------------
                          1 to 5                          2% per year
                          6 to 10                         4% per year
                         11 to 20                         6% per year
                         21 to 30                         8% per year
                         31 or more                      10% per year

               The percentage is prorated for partial years by crediting 1/12th
               for each completed month of Credited Service.

                                      1-12

<PAGE>

               (ii) The sum of the Participant's lump-sum benefit accrued as of
                    July 14, 1996 and the Participant's lump-sum benefit as
                    determined by the sum of the Participant's Benefit
                    Percentages based on his Years of Credited Service accrued
                    after July 15, 1996 as follows:

                    I.   Lump-sum benefit as of July 14, 1996 shall be based on
                         the actuarially equivalent lump sum value of the
                         Participant's Accrued Benefit determined as of July 14,
                         1996. This lump sum value will be determined using the
                         mortality table designated by the Secretary of the
                         Treasury under Section 417(e) of the Internal Revenue
                         Code and the December, 1995 30-year treasury rate of
                         6.06%.

                         Plus

                    II.  The sum of the Participant's Benefit Percentages
                         (determined using the table above) for years and months
                         of Credited Service accrued after July 14, 1996 times
                         the Participant's Final Average Monthly Compensation as
                         of his date of termination or retirement multiplied by
                         12.

          (c)  For any Participant who was a CCB Retirement Plan Participant and
               who had not as of December 31, 2001, attained the age of 55 with
               five years of Vesting Service nor attained the age of 50 with 10
               years of Vesting Service, the greater of (i) or (ii) below:

               (i)  The product of:

                    I.   The cumulative sum of the Participant's Benefit
                         Percentages (determined using the table below) based on
                         years and months of Credited Service,

                         Multiplied By

                    II.  The Participant's Final Average Monthly Compensation as
                         of his date of termination or retirement multiplied by
                         12.

                        Years of
                    Credited Service                      Percentages
                    ----------------                     ------------
                          1 to 5                          2% per year
                          6 to 10                         4% per year
                         11 to 20                         6% per year
                         21 to 30                         8% per year
                         31 or more                      10% per year

                                      1-13

<PAGE>

                    The percentage is prorated for partial years by crediting
                    1/12th for each completed month of Credited Service.

               (ii) The sum of the following:

                    I.   The lump-sum actuarial equivalent of the benefit the
                         Participant would have accrued under the CCB Retirement
                         Plan as of December 31, 2001 (based on the assumption
                         that such plan continued in effect without regard to
                         the merger of such plan into the Plan)).

                         Plus

                    II.  The sum of the Participant's Benefit Percentages
                         (determined using the table above) for years and months
                         of Credited Service accrued after December 31, 2001
                         times the Participant's Final Average Monthly
                         Compensation as of his date of termination or
                         retirement multiplied by 12; provided, however, that
                         years and months of Credited Service accrued prior to
                         January 1, 2002, will be taken into account solely for
                         the purpose of determining the Benefit Percentage
                         attributable to each year and month of Credited Service
                         performed after December 31, 2001, but no Benefit
                         Percentage shall be assigned to any year of Credited
                         Service performed prior to January 1, 2002.

          (d)  For any Participant who was a CCB Retirement Plan Participant and
               who had as of December 31, 2001, attained the age of 55 with five
               years of Vesting Service or attained the age of 50 with 10 years
               of Vesting Service, the PEP Benefit shall equal the product of:

               (i)  The cumulative sum of the Participant's Benefit Percentages
                    (determined using the table below) based on years and months
                    of Credited Service,

                    Multiplied By

               (ii) The Participant's Final Average Monthly Compensation as of
                    his date of termination or retirement multiplied by 12.

                        Years of
                    Credited Service                     Percentages
                    ----------------                     -----------
                          1 to 5                          2% per year
                          6 to 10                         4% per year

                                      1-14

<PAGE>

                         11 to 20                         6% per year
                         21 to 30                         8% per year
                         31 or more                      10% per year

               The percentage is prorated for partial years by crediting 1/12th
               for each completed month of Credited Service.

     (38) "Plan" shall mean the National Commerce Financial Corporation
          Retirement Plan, as amended and restated effective as of August 1,
          2001, as set forth in this document and as it may hereafter be amended
          from time to time.

     (39) "Plan Year" shall mean the calendar year.

     (40) "Post Payment Recalculation Date" shall have the meaning assigned in
          Section 2.1(D) hereof.

     (41) "Qualified Joint and Survivor Annuity" shall mean an annuity that (a)
          is payable for the life of the Participant with a survivor annuity
          payable for the life of his spouse which is not less than 50% and is
          not greater than 100% of the amount of the annuity which is payable
          during the joint lives of the Participant and his spouse and (b) is
          the actuarial equivalent of the monthly retirement income payable to
          the Participant for life under the provisions of the Plan.

     (42) "Qualified Joint and 50% Survivor Annuity Option" shall have the
          meaning assigned in Section 3.1 hereof.

     (43) "Qualified Preretirement Survivor Annuity" shall mean the minimum
          death benefit, if any, described in Section 4. 1 (D) hereof that may
          be payable to the spouse of a Participant who dies prior to his
          Annuity Starting Date.

     (44) "Required Beginning Date" shall mean April 1 of the calendar year that
          next follows the later of the calendar year in which the Participant
          attains or will attain the age of 70-1/2 years or the calendar year in
          which he retires or his service is terminated; provided, however, that
          the Required Beginning Date of any Participant who is a 5-percent
          owner (within the meaning of Section 416 of the Internal Revenue Code)
          shall not be later than April 1 of the calendar year following the
          calendar year in which the Participant attains the age of 70-1/2
          years.

     (45) "Retirement Date" shall mean normal, early or disability retirement,
          as described in Sections 2.1, 2.2 and 2.3 hereof.

     (46) "Superseded Plan" shall mean, collectively or distributively, as the
          context may indicate, the qualified retirement plan, if any, that was
          maintained by an Employer for its eligible Employees prior to the
          Effective Date and that the Plan represents an amendment and
          restatement thereof. References to the Superseded Plan as of

                                      1-15

<PAGE>

          any given date shall refer to the provisions as set forth under the
          terms of the applicable document describing such qualified retirement
          plan as amended and in effect on such given date prior to the
          Effective Date.

     (47) "Supplement" shall mean any supplement that is attached to and made a
          part of the Plan and that describes provisions of the Plan that apply
          only to Employees of an Employer or Employers specified in such
          Supplement.

     (48) "Termination Completion Date" shall mean the last day of the fifth
          consecutive Break in Service computation period, determined under the
          Plan Section which defines Break in Service, in which a Participant
          completes a Break in Service.

     (49) "Trust" shall mean the trust established under an agreement between
          the Primary Sponsor and the Trustee to hold the Fund or any successor
          agreement.

     (50) "Trustee" means the trustee under the Trust.

     (51) "Vested Percentage" shall mean the percentage specified in Section
          2.4(A)(1) hereof in which the Participant has a nonforfeitable right
          to his accrued benefit attributable to Employer contributions, based
          upon his number of years of Vesting Service and his age as of the date
          that such percentage is being determined; provided, however, that the
          Vested Percentage of a Participant who has accrued Vesting Service
          during any Plan Year that the Plan is top-heavy shall be subject to
          the provisions of Section 4.6 hereof.

     (52) "Vesting Service" shall mean each Plan Year during which an Employee
          has completed no less than 1,000 Hours of Service. Notwithstanding
          anything contained herein to the contrary, in the case of an Employee
          who completes five consecutive Breaks in Service and at that time does
          not have any vested right in his Accrued Beneft, Vesting Service shall
          not include all service before those Breaks in Service commenced.

          Notwithstanding the foregoing, the Vesting Service for an NBC
          Retirement Plan Participant, shall be equal to the "Vesting Service"
          of such Participant under the NBC Retirement Plan as of December 31,
          2000, plus the Vesting Service earned by such Participant for all
          subsequent Plan Years; provided, however, that with respect to the
          Plan Year ending on December 31, 2001, such Participant shall receive
          a year of Vesting Service if such Participant earns a year of Vesting
          Service pursuant to the first sentence of this Subsection or pursuant
          to the provisions of the NBC Retirement Plan as of July 31, 2001.

     (B)  The terms "actuarially equivalent," "equivalent actuarial value,"
"actuarial equivalent" and similar terms as used herein shall mean equality in
value of the aggregate amounts expected to be received under different forms of
payment based upon the same mortality and interest rate assumptions, which shall
be determined as follows:

                                      1-16

<PAGE>

     (1)  Unless specifically provided otherwise under the provisions hereof,
          the mortality and interest rate assumptions used in computing benefits
          payable on behalf of a Participant upon the Participant's retirement
          or termination of employment and upon the exercise of optional forms
          of retirement income under the Plan shall be as follows:

          (a)  the mortality assumptions shall be based on the mortality table
               designated by the Secretary of the Treasury under Section 417(e)
               of the Internal Revenue Code; and

          (b)  the interest rate is the yield rate for 30-year Treasury constant
               maturity securities for the last month preceding the Plan Year of
               distribution as specified in the Federal Reserve Statistical
               Release. Notwithstanding the foregoing, with respect to
               distributions to CCB Retirement Plan Participants on or after the
               Effective Date and prior to August 1, 2002, the interest rate
               shall be the lesser of the rate determined above, or the interest
               rate equal to the yield rate for 30-year Treasury constant
               maturity securities for the November preceding the Plan Year of
               distribution, as specified in the Federal Reserve Statistical
               Release. .

          provided, however, that for the purposes of determining the maximum
          retirement income permitted under the provisions of Section 415 of the
          Internal Revenue Code, the mortality and interest rate assumptions
          used to determine actuarial equivalence for early retirement shall be
          the assumptions that would produce the early retirement adjustment
          factors that apply under the provisions hereof in the event of early
          retirement.

     (C)  The terms "herein", "hereof", "hereunder" and similar terms refer to
this document, including the Trust Agreement of which this document is a part,
unless otherwise qualified by the context.

     (D)  The pronouns "he", "him" and "his" used in the Plan shall also refer
to similar pronouns of the feminine gender unless otherwise qualified by the
context.

1.2  PARTICIPATION
     -------------

     (A)  Continuation of Participation of Superseded Plan Participants and
          -----------------------------------------------------------------
          Retroactive Amendments to Superseded Plan: Each person who was a
          -----------------------------------------
          participant in the Superseded Plan, if any, of the Employer as of the
          day immediately preceding the Effective Date will become a Participant
          in the Plan on the Effective Date; provided, however, that any such
          Participant who had retired or whose service had been terminated prior
          to the Effective Date and who is not an active Employee of an Employer
          or in the employment of a Designated Nonparticipating Employer or on a
          leave of absence granted by an Employer or Designated Nonparticipating
          Employer as of the Effective Date shall be entitled on and after

                                      1-17

<PAGE>

          the Effective Date to only those benefits, if any, to which he is
          entitled on and after the Effective Date under the provisions of the
          Superseded Plan, and he and his Beneficiaries shall not be entitled to
          any additional benefits under the Plan as set forth herein unless he
          reenters the service of an Employer after the Effective Date or unless
          the Plan is amended on or after the Effective Date specifically to
          provide otherwise.

     (B)  Participation of Other Employees: Each Employee who does not become a
          --------------------------------
Participant in accordance with the provisions of Section 1.2(A) above and who is
in the service of the Employer on or after the Effective Date will become a
Participant in the Plan on the latest to occur of the following dates:

     (1)  the date that immediately follows his completion of his Eligibility
          Service;

     (2)  the date the Employee becomes an Eligible Employee; and

     (3)  the Effective Date;

provided, however, that any such Employee whose service has not been terminated
but who is absent from the active service of the Employer on such date that he
is first eligible to become a Participant in the Plan as described above will
become a Participant hereunder as of the date of his return to active service
with the Employer.

     (C)  Participation Following Reemployment: The above provisions of this
          ------------------------------------
Section 1.2 describe the date on which an Eligible Employee will initially
become a Participant in the Plan. In the event that an Employee's service is
terminated and he subsequently reenters the service of the Employer, the date on
or after the date of his reentry as of which he will become a Participant in the
Plan is subject to the provisions of Section 1.4 hereof.

1.3  LEAVE OF ABSENCE AND TERMINATION OF SERVICE
     -------------------------------------------

     Any absence from the active service of the Employer by reason of an
approved absence granted by the Employer because of accident, illness, layoff
with the right of recall or military service, or for any other reason on the
basis of a uniform policy applied by the Employer without discrimination, will
be considered a leave of absence for the purposes of the Plan and will not
terminate an Employee's service provided he returns to the active service of the
Employer at or prior to the expiration of his leave or, if not specified
therein, within the period of time which accords with the Employer's policy with
respect to permitted absences.

     If the Employee does not return to the active service of the Employer at or
prior to the expiration of his leave of absence as above defined, his service
will be considered terminated as of the earliest to occur of (i) the date on
which his leave of absence expired, (ii) the first anniversary of the date on
which his leave of absence began or (iii) the date of his resignation, quit,
discharge or death; provided, however, that:

     (1)  if any such Employee, who is on a leave of absence for any reason
          other than military service and who was a participant in the Plan or
          Superseded Plan on the

                                      1-18

<PAGE>

          date on which his leave began, is prevented from his timely return to
          the active service of the Employer because of his total and permanent
          disability prior to his Normal Retirement Date or his death, he shall
          be entitled, if he meets the requirements necessary to qualify
          therefore, to a disability benefit as provided in Section 2.3 hereof
          or to a death benefit as provided in Section 2.4 hereof, whichever is
          applicable, as though he returned to active service immediately
          preceding the date of his total and permanent disability or his death;
          and

     (2)  if any such Employee, who is on a leave of absence because of military
          service and who was a participant in the Plan or Superseded Plan on
          the date on which his leave began, is prevented from his timely return
          to the active service of the Employer because of his total and
          permanent disability prior to his Normal Retirement Date or his death,
          he shall be entitled, in lieu of the benefits provided under Sections
          2.3 and 2.4(B) hereof, to either:

          (a)  if his failure to return to active service is due to his total
               and permanent disability, a benefit under Section 2.3(D) hereof,
               or

          (b)  if his failure to return to active service is due to his death, a
               benefit under Section 2.4(B)(1)(a) (but not Section 2.4(B)(1)(b))
               hereof; but such benefit under Section 2.3(D) will be payable
               only if a benefit would have been payable on behalf of such
               Participant under the provisions of Section 2.3 hereof if he had
               been in the service of the Employer on the date of his total and
               permanent disability and such benefit under Section 2.4(B)(1)(a)
               will be payable only if a benefit would have been payable on
               behalf of such Participant under the provisions of Section 2.4(B)
               hereof if he had been in the service of the Employer on the date
               of his death.

     Effective December 12, 1994, notwithstanding any provision of the Plan to
the contrary, benefits and service credit with respect to qualified military
service will be provided in accordance with Section 414(u) of the Code.

     Transfers of an Employee's service among the Employers and Designated
Nonparticipating Employers shall not be deemed interruptions of his service and
shall not constitute a termination of service for the purposes of the Plan.

1.4  REEMPLOYMENT
     ------------

     (A)  Reemployment of Vested Terminated Participant Prior to Commencement of
          ----------------------------------------------------------------------
Payments: If a Participant's employment terminated on or after his Initial
--------
Vesting Date for a reason other than a Retirement Date and he subsequently
reenters the active service of the Employer as an Eligible Employee prior to his
Annuity Starting Date, he will become a Participant upon the date of such
reentry and will be entitled to a reinstatement of the Vesting Service and
Credited Service that he had accrued on the date of termination of his service
in lieu of the benefits to which he was entitled under the Plan prior to his
reentry; provided, however, that such Participant's Accrued Benefit (or his
accrued monthly normal retirement income, if

                                      1-19

<PAGE>

applicable) determined as of any given date after the date of his reentry shall
be reduced by an amount equal to the difference, if any, between (i) the monthly
retirement income that would have been payable to him under Section 2.4(A)
hereof commencing on his Normal Retirement Date if he had not reentered the
service of the Employer, and taking into account any death benefit coverage that
was in effect under Section 2.4(A) hereof after the date of termination of his
service and prior to the date of his reentry and assuming that the death benefit
coverage under such Section after the date of his reentry would have been
declined, and (ii) the monthly retirement income that would have been payable to
the Participant under Section 2.4(A) hereof commencing on his Normal Retirement
Date if he had not reentered the service of the Employer and if the death
benefit coverage under Section 2.4(A) hereof had been declined during the total
period between the date of termination of his service and his Normal Retirement
Date; and provided further, however, that the benefit payable to such
Participant upon his subsequent retirement or termination of service shall not
be less than the benefit that he would have been entitled to receive under the
provisions of Section 2.4(A) hereof if he had not reentered the service of the
Employer.

     (B)  Reemployment of Retired or Vested Terminated Participant After
          --------------------------------------------------------------
          Commencement of Payments:
          ------------------------

     (1)  If a Participant terminates employment on or after the Effective Date
          and has received a portion but not all of the retirement income to
          which he is entitled under the provisions of Section 2.1, 2.2 or
          2.4(A)(1) hereof, subsequently reenters the active service of the
          Employer as an Eligible Employee, he shall become a Participant upon
          the date of such reentry. If the date of his reentry is prior to his
          Required Beginning Date, subject to the provisions of Sections
          1.4(B)(2) and 2.1(D) hereof, no retirement income payments shall be
          made during the period of such reemployment. Upon the subsequent
          retirement or termination of service of such a Participant, his
          benefit under the Plan shall be determined in the same manner as that
          of a vested terminated Participant whose retirement income payments
          have not commenced and who subsequently reenters the service of the
          Employer as described in Section 1.4(A) above, except that the benefit
          payable under the Plan to or on behalf of such Participant upon his
          subsequent retirement or termination of service shall be reduced on an
          actuarially equivalent basis by an amount equal to the sum of the
          retirement income and other benefit payments that he received under
          the provisions of Section 2.1, 2.2, 2.4(A) or 3.1 hereof, which is
          applicable, prior to such reentry into the service of the Employer;
          provided, however, that the monthly retirement income payable to any
          such Participant on and after the date of his subsequent retirement
          shall not be less than the actuarial equivalent, determined as of the
          date of his subsequent retirement, of the retirement income that would
          have been payable on and after such date if he had not reentered the
          service of the Employer but had continued to received his retirement
          income payments during the period of his reemployment; and provided
          further, however, if any such Participant reenters the active service
          of the Employer on or after his Normal Retirement Date, the monthly
          retirement income payable on behalf of such Participant shall be
          determined in accordance with the provisions of Section 2.1.

                                      1-20

<PAGE>

     (2)  With respect to any Participant who commenced receipt of his
          retirement income prior to the Effective Date, in lieu of having his
          retirement income payments discontinued and his benefit payable upon
          his subsequent retirement or termination determined in accordance with
          the provisions of Section 1.4(B)(1) above, any such Participant, whose
          Vested Percentage at the date of his retirement or termination of
          service was 100%, and who reenters the active service of the Employer
          as an Eligible Employee on less than a full-time basis, may upon such
          reentry elect in writing filed with the Committee to continue to
          receive his retirement income payments after his reemployment in the
          same manner as though he had not reentered the service of the
          Employer. Any such Participant whose retirement income payments are
          continued in accordance with the provisions above shall be treated as
          if he then first entered the service of the Employer except that:

          (a)  upon the date after his reentry that he satisfies the
               requirements to become a Participant in the Plan, he shall become
               a Participant, retroactively, as of the date of his reentry;
               provided, however, if he had not incurred a Break in Service
               prior to his reentry, he shall become a Participant immediately
               on the date of his reentry; and

          (b)  upon his becoming a Participant, he shall be entitled to a
               reinstatement of the Vesting Service that he had accrued as of
               the date of his previous retirement or termination of service.

     The benefit which any such Participant accrues after the date of his
reentry, which is payable to such Participant or his Beneficiary upon his
subsequent retirement or termination of service, shall be limited to the amount
that can be provided by the monthly retirement income, if any, that he accrues
subsequent to such date of reentry based upon his Credited Service and Final
Average Monthly Compensation determined in the same manner as though he then
first entered the service of the Employer on the date on or after his reentry
that he commences to accrue additional Credited Service; provided, however, that
such income that such a Participant accrues subsequent to his date of reentry
shall not cause the actuarial equivalent of the total income payable to the
Participant or his Beneficiary under the Plan to exceed the amount that would
have been payable if he had not elected to continue to receive his retirement
income after his reemployment. The retirement income that is continued during
the period of reemployment of any such Participant who is reemployed on less
than a full-time basis shall be discontinued if the Participant is employed on a
full-time basis at any time after his reentry. If the retirement income of any
such Participant is subsequently discontinued, his benefit under the Plan shall
be determined under this Section 1.4(B) as though his service had been
terminated on the date that his retirement income was discontinued and as though
he had reentered the service of the Employer immediately thereafter.

     (D)  Reemployment After Disability Retirement: If a Participant, who has
          ----------------------------------------
retired on or after the Effective Date under the provisions of Section 2.3 and
who has not prior to his reentry received the full actuarially equivalent value
of the disability retirement income to which he was

                                      1-21

<PAGE>

entitled under Section 2.3 hereof, recovers from disability and reenters the
active service of the Employer within one year after the date of his recovery
from disability by accepting reemployment offered by the Employer within 30 days
after such offer, his service will be deemed to have been continuous and he will
be treated under the Plan in the same manner as though he had received
Compensation, at the rate he was receiving at the time of his disability, during
the period that he was considered totally and permanently disabled as provided
herein.

     (E)  Reemployment After Full Settlement: If a Participant's service has
          ----------------------------------
been terminated on or after the Effective Date for any reason and he was
entitled, upon such termination, to a monthly retirement income under the
provisions of Section 2.1, 2.2, 2.3 or 2.4(A)(1) hereof and he reenters the
active service of the Employer as an Eligible Employee after the full actuarial
equivalent value of such retirement income has been paid on his behalf, he shall
become a Participant on the date of his reentry and shall be entitled to a
reinstatement of the Vesting Service and Credited Service that he had accrued as
of such previous date of termination, but the benefit payable under the Plan to
or on behalf of such Participant upon his subsequent retirement or termination
of service shall be reduced by the actuarially equivalent value of such
retirement income that has been previously paid on his behalf.

     (F)  Reemployment of Other Employees: Any other former Employee who is not
          -------------------------------
included under the provisions of Section 1.4(A), 1.4(B), 1.4(C) or 1.4(D) above
and who subsequently reenters the active service of the Employer as an Eligible
Employee following his termination of service will be treated as though he then
first entered the service of the Employer; provided, however, that:

     (1)  with respect to any such Employee whose service is terminated on or
          after the Effective Date and who incurred a Break in Service prior to
          the date of his reentry, the following special provisions shall apply:

          (a)  if the number of years and days included in his Break in Service
               is less than either five years or the number of years and days of
               Vesting Service that he had accrued as of the date of termination
               of his service, such Employee shall be entitled, upon the date as
               of which he becomes a Participant in the Plan, to a reinstatement
               of the Credited Service and Vesting Service that he had accrued
               as of such previous date of termination of service;

          (b)  if such Employee was a Participant in the Plan as of the date of
               termination of his service and he is entitled to a reinstatement
               of his previous Credited Service and Vesting Service under (a)
               above, he shall be eligible to become a Participant in the Plan
               as of the date of his reentry as an Eligible Employee; and

          (c)  if such Employee was not a Participant in the Plan as of the date
               of termination of his service but he is entitled to a
               reinstatement of his previous Credited Service and Vesting
               Service under (a) above or if such Employee (regardless of
               whether or not he was a Participant in the Plan as of the date of
               termination of his service) reenters the service of the

                                      1-22

<PAGE>

               Employer prior to his Termination Completion Date, the date on
               which he will be eligible to become a Participant in the Plan
               following his date of reentry shall not be later than the date on
               which he would have been eligible to become a Participant if he
               had been on a leave of absence during the period between the date
               of his previous termination of service and the date of his
               reentry; and

     (2)  with respect to any such Employee whose service was terminated prior
          to the Effective Date (while the Superseded Plan was in effect with
          respect to the Employer by which he was employed at the date of
          termination of his service) and who had reentered the active service
          of the Employer prior to the Effective Date or who reenters the active
          service of the Employer on or after the Effective Date, his rights
          under the Plan with respect to the period of his service prior to such
          date of reentry into the service of the Employer shall be determined
          under the applicable provisions of the Superseded Plan as in effect on
          the date of his prior termination of service.

     (G)  Reemployment of Employee Who Is Not an "Eligible Employee": The rights
          ----------------------------------------------------------
of any terminated Employee of the Employer who was not an Eligible Employee on
the date of termination of his service and who is reemployed in a status in
which he qualifies as an Eligible Employee shall be determined in accordance
with the provisions of the Plan in the same manner as though such Employee had
been an Eligible Employee on the date of termination of his service (but his
benefits, if any, under the Plan shall be determined ignoring such one day of
assumed employment as an Eligible Employee as defined herein). The rights of any
terminated Eligible Employee who is reemployed by the Employer in a status other
than that of an Eligible Employee shall be determined in accordance with the
provisions of the Plan in the same manner as though such Employee had been
reemployed by the as an Eligible Employee and had immediately thereafter been
transferred from his status as an Eligible Employee (but his benefits, if any,
under the Plan shall be determined ignoring such one day of assumed employment
as an Eligible Employee).

     (H)  Reemployment of Employee of Designated Nonparticipating Employer: The
          ----------------------------------------------------------------
rights of any terminated Employee of a Designated Nonparticipating Employer who
is reemployed by an Employer as an Eligible Employee shall be determined in
accordance with the provisions of the Plan in the same manner as though such
Employee had been an Eligible Employee on the date of termination of his service
(but his benefits, if any, under the Plan shall be determined ignoring such one
day of assumed employment as an Employee as defined herein). The rights of any
terminated Employee of an Employer who is reemployed by a Designated
Nonparticipating Employer shall be determined in accordance with the provisions
of the Plan in the same manner as though such Employee had been reemployed by
the Employer as an Eligible Employee and had immediately thereafter been
transferred to such Designated Nonparticipating Employer (but his benefits, if
any, under the Plan shall be determined ignoring such one day of assumed
employment as an Eligible Employee).

     (I)  Employment with Former Employer or Former Designated Nonparticipating
          ---------------------------------------------------------------------
Employer: In determining the rights under the Plan of any Employee who was
--------
previously employed (either before, on or after the Effective Date) by an
employer, which was formerly an

                                      1-23

<PAGE>

Employer participating in the Plan or Superseded Plan or was formerly a
Designated Nonparticipating Employer but which is not currently an Employer or
Designated Nonparticipating Employer, the period of such Employee's employment
with such employer while it was an Employer or Designated Nonparticipating
Employer, as the case may be, shall be recognized in determining the Vesting
Service of such Employee in the same manner as though such employment during
such period had been with a current Employer or Designated Nonparticipating
Employer, but any period of employment with such employer after the date that it
ceased to be an Employer or Designated Nonparticipating Employer shall not be
recognized and his service shall be deemed to have been terminated during such
period that such Employer is not an Employer or Designated Nonparticipating
Employer.

1.5  TRANSFER TO OR FROM STATUS AS AN ELIGIBLE EMPLOYEE
     --------------------------------------------------

     An Employee will be deemed to be transferred from his status as an Eligible
Employee in the event that he remains in the service of the Employer but has a
change in his Employee status so that he no longer qualifies as an Eligible
Employee or in the event that he is transferred to and becomes an Employee of a
Designated Nonparticipating Employer. Conversely, an Employee of an Employer who
is not an Eligible Employee will be deemed to be transferred to the status of an
Eligible Employee in the event that he remain in the service of the Employer but
has a change in his employee status so that he becomes an Eligible Employee or,
if he was an Employee of a Designated Nonparticipating Employer, in the event
that he is transferred to an Employer from such Designated Nonparticipating
Employer and becomes an Eligible Employee. The service of such a person
described above shall not be considered to be interrupted by reason of any such
transfer, and service with the Designated Nonparticipating Employer or with the
Employer while not an Eligible Employee shall be terminated in the same manner
as service with the Employer while an Eligible Employee is terminated. Any
provisions of Section 2.1, 2.2, 2.3 or 2.4 hereof to the contrary
notwithstanding, the benefits of any such Participant who has been transferred
to or from the status as an Eligible Employee on or after the date that the Plan
or Superseded Plan first became effective with respect to his Employer shall be
determined in accordance with the following provisions of this Section 1.5. With
respect to any Employee who had been transferred to or from the status as an
Eligible Employee prior to the date that the Plan or Superseded Plan first
became effective with respect to his Employer, his Employee status as of his
first day of employment on or after such date that the Plan or Superseded Plan
first became effective with respect to his Employer shall be deemed for the
purposes of the Plan (subject to the provisions of Section 1.5(C)(1) below) to
have been his Employee status during the entire period of his prior service,
except that he shall not accrue any Credited Service under the Plan for any such
period of service that he was in the service of a Designated Nonparticipating
Employer and not in the service of the Employer and he shall not accrue any
Credited Service during such period prior to the Effective Date that would have
been excluded from his Credited Service under the provisions of the Superseded
Plan.

     (A)  Eligibility for Benefits: In determining the eligibility of such an
          ------------------------
Employee to whom the provisions of this Section 1.5 are applicable for
participation in the Plan and in determining his eligibility for the benefits
provided under the Plan, his Vesting Service and Hours of Service shall be
determined in the same manner as though his service with the Designated
Nonparticipating Employers and with the Employers while not an Eligible Employee

                                      1-24

<PAGE>

had been accrued with the Employers while an Eligible Employee. Any such
Employee who is transferred to the status of an Eligible Employee shall become a
Participant in the Plan on the date that he becomes an Eligible Employee if he
has otherwise satisfied the requirements to become a Participant in the Plan as
described in Section 1.2 hereof prior to such date that he becomes an Eligible
Employee.

     (B)  Computation of Benefits: A Participant to whom the provisions of this
          -----------------------
Section 1.5 are applicable shall be entitled upon his retirement or termination
of service (or his Beneficiary shall be entitled in the event his service is
terminated by reason of his death), if he meets all requirements necessary to
qualify for a benefit under the provisions of Section 2.1, 2.2, 2.3 or 2.4
hereof or under the provisions of any applicable Supplement hereto, as the case
may be, to a benefit payable in accordance with the provisions of Section 2.1,
2.2, 2.3 or 2.4 hereof or in accordance with the provisions of any applicable
Supplement hereto, as the case may be, but the amount of the monthly retirement
income that is payable on his behalf under the Plan shall, subject to the
provisions of Section 1.5(C) below, be equal to the product of:

     (1)  the monthly retirement income which would have been payable on behalf
          of such Participant under the provisions of Section 2.1, 2.2, 2.3 or
          2.4 hereof or under the provisions of any Supplement hereto, as the
          case may be, if his service accrued with the Designated
          Nonparticipating Employers and with the Employers while not an
          Eligible Employee herein were included with his Credited Service
          accrued with the Employers while an Eligible Employee;

     multiplied by

     (2)  the fraction in which the numerator is the Participant's Credited
          Service that he accrued while in the service of the Employers
          hereunder while an Eligible Employee and the denominator is the total
          Credited Service that he would have accrued if his service accrued
          with the Designated Nonparticipating Employers and with the Employers
          while not an Eligible Employee were included with his Credited Service
          accrued with the Employers while an Elgible Employee.

     (C)  Special Provisions Applicable to Benefits: The monthly income computed
          -----------------------------------------
under this Section 1.5 shall be subject to the following:

     (1)  there shall be no duplication of service in computing benefits under
          the Plan and under any other qualified pension or annuity plan to
          which any Employer or Designated Nonparticipating Employer makes
          contributions on behalf of its Employees who are not Eligible
          Employees, and, if service accrued while an Eligible Employee is used
          in determining the accrued benefit of the Participant under any such
          other qualified pension or annuity plan, then the portion of the
          benefit payable under the Plan based on such duplicated service shall
          be reduced (but not so as to produce a negative amount) by the
          actuarially equivalent amount of the benefit payable under such other
          qualified pension or annuity plan based on such duplicated service;

                                      1-25

<PAGE>

     (2)  all compensation that a Participant received from the Designated
          Nonparticipating Employers and from the Employers while not an
          Eligible Employee shall be treated in determining his Final Average
          Monthly Compensation in the same manner as though such compensation
          had been received from the Employer while an Eligible Employee;

     (3)  the amount of such monthly retirement income that is payable under the
          Plan on behalf of a Participant who has been transferred to the status
          of an Eligible Employee shall not be less than an amount equal to the
          excess, if any, of:

          (a)  the monthly retirement income that would have been payable on
               behalf of such Participant under the applicable provisions hereof
               if, subject to the provisions of (2) above, he had initially been
               employed by the Employer on the date that he was transferred to
               the status of an Eligible Employee;

          over

          (b)  the actuarially equivalent amount of monthly retirement income or
               other benefit that is payable on behalf of such Participant under
               each other qualified pension or annuity plan, if any, to which an
               Employer or Designated Nonparticipating Employer has made
               contributions on his behalf based upon his employment prior to
               such date that he was transferred to the status of an Eligible
               Employee;

     (4)  the disability retirement income determined under Section 2.3(D)
          hereof shall apply only if the Participant is an Eligible Employee on
          the date of his total and permanent disability and, in that event,
          such disability retirement income determined under such Section shall
          not be reduced by the application of the fraction specified in Section
          1.5(B)-above, but the benefit determined under Section 2.3(D) hereof
          shall be reduced by the amount of monthly income payments or other
          benefits concurrently payable on behalf of such Participant under each
          other qualified pension or annuity plan, if any, to which an Employer
          or Designated Nonparticipating Employer has made contributions on his
          behalf; and

     (5)  the benefit determined under Section 2.4(B)(1)(b) hereof shall apply
          only if the Participant is an Eligible Employee on the date of his
          death and in that event:

          (a)  the benefit under Section 2.4(B)(1)(b)(i) shall not be reduced by
               the application of the fraction specified in Section 1.5(B)(2)
               above but shall be reduced by the actuarial equivalent of the
               benefit payable on behalf of such Participant under each other
               qualified pension or annuity plan, if any, to which an Employer
               or Designated Nonparticipating Employer has made contributions on
               his behalf, and

          (b)  the limitation equal to 100 times the Participant's monthly
               normal retirement income, described in Section 2.4(B)(1)(b)(ii),
               shall include the

                                      1-26

<PAGE>

               anticipated monthly retirement income based on his service
               accrued prior to his death to which such Participant would be
               entitled at his Normal Retirement Date or the date of his death,
               whichever is later, under each other qualified pension or annuity
               plan, if any, to which an Employer or Designated Nonparticipating
               Employer has made contributions on his behalf.

     (D)  Payments From One Trust Fund: In lieu of the payment of retirement
          ----------------------------
income or other benefits to such a Participant from the trust fund of more than
one qualified pension plan of the Designated Nonparticipating Employers and the
Employers, the administrators of the pension plans may, by mutual agreement,
provide for payment of the entire monthly income or other benefit from one trust
fund with appropriate reimbursement to the trustee of the trust fund from which
the benefits are to be paid by transfer of funds equal to the lump sum
actuarially equivalent value of the benefits payable under the other plan (or
plans) to the trust fund from which benefits actually will be paid.

1.6  PARTICIPATION AND BENEFITS FOR FORMER LEASED EMPLOYEES
     ------------------------------------------------------

     A "leased employee" (within the meaning of Section 414(n) of the Internal
Revenue Code) of an Employer or Designated Nonparticipating Employer shall not
be deemed for any purposes of the Plan to be an Eligible Employee. However, in
the event that any such former leased employee qualifies as an Eligible Employee
or after the Effective Date, unless the Plan is otherwise excluded by applicable
regulations from the requirements of Section 414(n) of the Internal Revenue
Code, the total period that he provided services to the Employer or Designated
Nonparticipating Employer as a leased employee shall be treated under the Plan
in determining his nonforfeitable right to his accrued benefits and his
eligibility to become a Participant in the Plan in the manner described in
Section 1.5(A) hereof as though he had been an Employee of a Designated
Nonparticipating Employer during such period of service (but such service shall
not be included in the service that is used to calculate any benefits that he
accrues under the Plan).

1.7  RIGHT'S OF OTHER EMPLOYERS TO PARTICIPATE
     -----------------------------------------

National Bank of Commerce, National Commerce Financial Corporation, Central
Carolina Bank and Trust Company, CCB Investment and Insurance Service
Corporation, Salem Trust Company, NBC Capital Markets Group, Transplatinum
Service Corporation, USI Alliance Corporation, First Mercantile Trust Company,
National Commerce Bank Services, Inc., NBC Bank, FSB (Memphis), Commerce Capital
Management, Inc., Monroe Properties, Inc., Prime Financial Services, Inc.,
FleetOne, LLC, NBC Insurance Services, Inc., and NBC Financial Corporation are
participating Employers in the Plan as amended and restated on August 1, 2001.
Any other corporation, association, joint venture, proprietorship, partnership
or other business organization may, in the future, adopt the Plan on behalf of
all or certain of its Employees by formal action on its part in the manner
described in Section 6.7 hereof provided that the Primary Sponsor, by formal
action on its part in the manner described in Section 6.7 hereof, and the
Committee both approve such participation.

     The administrative powers and control of the Primary Sponsor, as provided
in the Plan, shall not be deemed diminished under the Plan by reason of the
participation of any other

                                      1-27

<PAGE>

Employers in the Plan, and such administrative powers and control specifically
granted herein to the Primary Sponsor with respect to the appointment of the
Committee, amendment of the Plan and other matters shall apply only with respect
to the Primary Sponsor.

     The Plan is a single plan with respect to all Employers unless the Primary
Sponsor, by formal action on its part in the manner described in Section 6.7
hereof, specifically provides that the Plan shall be a separate plan with
respect to any Employer or to any division of any Employer or with respect to
any group of Employers and/or divisions. In the event that the Plan does not
represent a single plan with respect to all divisions of any Employer, the
division or divisions with respect to which the Plan represents a separate plan
shall be considered for the purposes of this Section and treated under the Plan
as one Employer and its other division or divisions shall be considered for the
purposes of this Section and treated under the Plan as a separate Employer or,
if applicable, as separate Employers.

     The contributions of any Employer that is a member of a group of Employers
with respect to which the Plan represents a single plan shall be available to
provide benefits on behalf of any Participants who are Employees of any other
Employers that are members of such group but shall not be available to provide
benefits on behalf of any Participants who are Employees of any Employers that
are not members of such group. The contributions of any Employer with respect to
which the Plan represents a single plan for only that Employer shall be
available to provide benefits on behalf of Participants who are its Employees
but shall not be available to provide benefits on behalf of Participants who are
Employees of any other Employers.

     Any Employer may withdraw from the Plan at any time by formal action on its
part, in the manner described in Section 6.7 hereof, specifying its
determination to withdraw. Any such withdrawing Employer shall furnish the
Committee and the Trustee with evidence of the formal action of its
determination to withdraw. Any such withdrawal may be accompanied by such
modifications to the Plan as such Employer shall deem proper to continue a
retirement plan for its Employees separate and distinct from the retirement plan
herein set forth. Withdrawal from the Plan by any Employer shall not affect the
continued operation of the Plan with respect to the other Employers; provided,
however, in the event of the withdrawal of an Employer that is a member of a
group of Employers with respect to which the Plan represents a single plan and
in the event that provision is made for the continuation of a retirement plan
for its Employees separate and distinct from the retirement plan herein set
forth, the share, if any, of the assets of the Trust Fund allocable to such
group of Employers that is transferred on behalf of such withdrawing Employer to
such other retirement plan shall be equal to the assets, if any, that would have
been allocated on behalf of the Employees of such withdrawing Employer under the
provisions of Section 4.5 hereof if such withdrawing Employer had terminated its
participation in the Plan on the date of such withdrawal; provided, however,
that the Primary Sponsor may, in its absolute discretion, direct that an
additional amount of assets be transferred on behalf of such withdrawing
Employer to such other retirement plan provided that the transfer of such
additional amount of assets would not lower the amount of the distributions that
would be made on behalf of the Participants who are Employees of the other
Employers that are members of such group of Employers with respect to which the
Plan represents a single plan if the Plan were terminated as of the effective
date of such transfer with respect to all of the Employers that are members of
such group of Employers.

                                      1-28

<PAGE>

     The Primary Sponsor, by formal action on its part in the manner described
in Section 6.7 hereof, may in its absolute discretion terminate any Employer's
participation in the Plan at any time, and the provisions of the Plan shall be
applied with respect to such Employer in the same manner as though it had
voluntarily withdrawn as a participating Employer.

                                      1-29

<PAGE>

                                    SECTION 2
                                    ---------
                 NORMAL AMOUNT AND PAYMENT OF RETIREMENT INCOME
                 ----------------------------------------------

2.1  NORMAL RETIREMENT AND RETIREMENT INCOME
     ---------------------------------------

     Normal retirement under the Plan is retirement from the service of the
Employer on or after the date that the Participant attains his Normal Retirement
Age. No provision of this Section or the Plan shall require the retirement of a
Participant upon his attainment of his Normal Retirement Age, but actual
retirement shall be governed by the policy of the Employer. In the event of
normal retirement, payment of retirement income will be governed, subject to the
provisions of Section 4 hereof, by the following provisions of this Section 2.1.

     (A)  Normal Retirement Date: The Normal Retirement Date of each Participant
          ----------------------
will be the first day of the month coincident with or next following the date on
which he attains his Normal Retirement Age. Any Participant who retires after
attaining his Normal Retirement Age but prior to his Normal Retirement Date and
who is surviving on his Normal Retirement Date shall be considered for the
purposes of the Plan to have retired on his Normal Retirement Date.

     (B)  Amount of Retirement Income: The monthly retirement income payable in
          ---------------------------
the manner described in Section 2.1(C) hereof to a Participant who retires on or
after his Normal Retirement Date shall equal:

          (1)  any Participant who (a) becomes a Participant in the Plan on or
               after July 31, 2001 and who was neither a CCB Retirement Plan
               Participant nor an NBC Retirement Plan Participant, (b) became an
               NBC Retirement Plan Participant on or after July 15, 1996, (c)
               was a NBC Retirement Plan Participant as of July 14, 1996 but had
               not attained age 55 with 5 Years of Credited Service or attained
               age 50 with 10 Years of Credited Service as of December 31, 1996,
               or (d) was a CCB Retirement Plan Participant as of July 31, 2001
               but either (i) had not attained age 55 with 5 Years of Vesting
               Service or attained age 50 with 10 Years of Vesting Service as of
               December 31, 2001 or (ii) is not an Electing CCB Retirement Plan
               Participant, the actuarially equivalent monthly income of the
               Participant's PEP Benefit.

          (2)  for any Participant who was a NBC Retirement Plan Participant as
               of July 14, 1996 and who had attained age 55 with 5 Years of
               Credited Service or had attained age 50 with 10 Years of Credited
               Service as of December 31, 1996, the greater of (a) and (b) as
               follows:

               (a)  The actuarially equivalent monthly income of the
                    Participant's PEP Benefit.

               (b)  A monthly benefit determined under the provisions of the NBC
                    Retirement Plan as they existed July 14, 1996 assuming such
                    provisions remain in effect until the Participant's
                    retirement date.

                                      2-1

<PAGE>

          (3)  for any Participant who was a CCB Retirement Plan Participant as
               of July 31, 2001 and who had attained age 55 with 5 Years of
               Vesting Service or had attained age 50 with 10 Years of Vesting
               Service as of December 31, 2001, the greater of (a) and (b) as
               follows:

               (a)  The actuarially equivalent monthly income of the
                    Participant's PEP Benefit.

               (b)  A monthly benefit determined under the provisions of the CCB
                    Retirement Plan as they existed July 31, 2001 assuming such
                    provisions remain in effect until the Participant's
                    retirement date.

          (4)  for any Participant who is an Electing CCB Retirement Plan
               Participant, a monthly benefit determined under the provisions of
               the CCB Retirement Plan as they existed July 31, 2001 assuming
               such provisions remain in effect until the Participant's
               retirement date.

     (C)  Payment of Retirement Income: The monthly retirement income payable in
          ----------------------------
the event of normal retirement will be payable on the first day of each month.
The first payment will be made on the Participant's Normal Retirement Date, or,
if the Participant retires after his Normal Retirement Date, the first payment
will be made on the first day of the month coincident with or next following the
date of his actual retirement. The last payment will be the payment due
immediately preceding the retired Participant's death; except that if the
Participant's benefit is determined pursuant to Plan Section 2.1(B)(1), (2) or
(3)(a), in the event the Participant dies after his retirement but before he
received retirement income payments for a period of 10 years, the same monthly
benefit that was payable to the Participant will be paid for the remainder of
such 10-year period to the Beneficiary designated by the Participant or, if no
designated Beneficiary is surviving, the same monthly benefit shall be payable
for the remainder of such 10-year period as provided in Sections 5.2 and 5.3
hereof.

     (D)  Special Provisions Applicable to Participants Who Receive Retirement
          --------------------------------------------------------------------
Income Payments While Continuing in Employment of Employer After Required
-------------------------------------------------------------------------
Beginning Date: Any of the above provisions of this Section 2.1 to the contrary
--------------
notwithstanding, but subject to the provisions of Section 4.1 hereof, a
Participant who continues in the employment of the Employer beyond his Required
Beginning Date shall start receiving monthly retirement income payments
commencing as of his Required Beginning Date. Such monthly retirement income
payments shall be determined and payable in the same manner as though the
Participant had actually retired on his Required Beginning Date. The retirement
income payable to such a Participant shall thereafter be subject to adjustment
as of the first day of each Plan Year which begins after his Required Beginning
Date and prior to the date of his actual retirement and shall be subject to
adjustment as of the first day of the month coincident with or next following
the date of his actual retirement (each such adjustment day is herein referred
to as a "Post Payment Recalculation Date") to reflect the additional accruals,
if any, that such Participant is entitled to receive because of his employment
after his Required Beginning Date. The additional retirement income, if any,
payable to any such Participant on and after an applicable Post Payment

                                      2-2

<PAGE>

Recalculation Date shall be determined in accordance with the provisions of
Section 411(b)(1)(H) of the Internal Revenue Code and regulations issued with
respect thereto, and the actuarial equivalent of the retirement income payments
that the Participant has received under the provisions of this Section 2.1 on
and after his Required Beginning Date and prior to the applicable Post Payment
Recalculation Date shall be used as an offset in the determination of such
additional income, but such offset shall not result in the retirement income
payable to the Participant being reduced below the amount that was payable on
his behalf immediately prior to such Post Payment Recalculation Date. The
additional amount of monthly retirement income, if any, that a Participant
accrues after his Required Beginning Date shall be converted to an actuarially
equivalent amount of monthly retirement income that is payable in the same
manner and form as the monthly retirement income that is payable on his behalf
immediately prior to the applicable Post Payment Recalculation Date, and such
additional actuarially equivalent income shall be payable to the Participant
commencing as of the applicable Post Payment Recalculation Date.

     (E)  Postponed Retirement Date: Each Participant may remain an Employee
          -------------------------
after his Normal Retirement Date and retire on his Postponed Retirement Date.
The pension payable to a Participant as of his Postponed Retirement Date shall
be equal to the Accrued Benefit of the Participant as of his Postponed
Retirement Date.

     Notwithstanding the foregoing, in accordance with Section 401(a)(9),
effective January 1, 1997, in the event a Participant retires after the April 1
of the year following the calendar year in which the Participant attained the
age of 70 1/2 (the "401(a)(9) Date"), the Participant's Accrued Benefit on the
Participant's Postponed Retirement Date shall be equal to the actuarial
equivalent of the Participant's Accrued Benefit as of the 401(a)(9) Date, plus
the actuarial equivalent of any additional benefits accrued after the 401(a)(9)
Date, reduced by the actuarial equivalent of any distributions made to the
Participant after the 401(a)(9) Date.

     (F) Suspension of Benefits

     (1)  Except as otherwise provided in Section 1.4(B)(2), if a Participant is
          reemployed by an Employer after beginning to receive payment of his
          retirement benefits or if the Participant continues to be employed by
          an Employer after Normal Retirement Age, the payment of his retirement
          benefits shall be suspended for each month during which he performs
          "substantial service" for an Employer. A Participant will be deemed to
          be performing "substantial service" for a month if he receives payment
          from an Employer for services performed for any Employer or for
          reasons other than the performance of duties on eight (8) or more days
          during the month.

     (2)  The payment of retirement benefits which have been suspended shall
          resume no later than the first day of the third calendar month after
          the month in which the Participant ceases to perform substantial
          service for an Employer. Upon resumption, the initial payment shall
          include the amount of the payment scheduled to occur in the calendar
          month of resumption and any amounts which were withheld during the
          period between the cessation of the performance of

                                      2-3

<PAGE>

          substantial service by the Participant and the resumption of payment,
          reduced by an offsets described in Subsection (3) below.

     (3)  Upon the resumption of payments, there shall be deducted or offset
          from such payments an amount equal to any payments made by the Plan to
          the Participant for any months in which the Participant performed
          substantial service for an Employer, provided that the amount of the
          deduction or offset shall not exceed, in any one month, twenty-five
          percent (25%) of that month's benefit payment which would have been
          due the Participant, and further provided that the initial payment
          made upon the resumption of payments shall be subject to deduction or
          offset without limitation.

     (4)  Payments shall not be suspended unless the Committee notifies the
          Participant of the suspension by personal delivery or first class mail
          during the first calendar month in which payments are to be suspended.
          The notification shall contain a description of the specific reasons
          why the payments are being suspended, a general description of the
          provisions of the Plan relating to the suspension of benefits and a
          copy of those provisions, a statement to the effect that applicable
          Department of Labor regulations may be found in Section 2530.203-3 of
          the Code of Federal Regulations and a statement that the Participant
          may employ the claim review procedure described in Section 5.11 the
          Plan to obtain a review by the Committee of the decision to suspend
          payments. If a reduction or offset is to be made to a Participant's
          payment, the notification shall also describe the periods of
          employment with respect to which payments were previously made from
          the Plan and during which the Participant performed substantial
          service for an Employer, the amount of the benefit subject to
          reduction or offset and the manner in which the Committee intends to
          reduce or offset the benefit payment.

     (5)  A Participant who is receiving benefits must notify the Committee of
          any employment, and in connection therewith the Committee shall be
          entitled to request from the Participant any information which the
          Committee deems reasonably necessary to verify whether or not the
          Participant is employed. The Committee may require any Participant who
          is receiving benefit payments, as a condition to receiving any future
          benefit payments, to certify to the Committee in writing that he is
          unemployed or to provide information sufficient to establish that he
          is not performing substantial service for any Employer.

     (6)  A Participant who is receiving payments is entitled to request the
          Committee to determine whether any specific contemplated employment
          for an Employer by the Participant will constitute substantial
          service. This request shall be treated as a claim for benefits under
          Section 5.11 of the Plan, and accordingly the Participant must comply
          with the claim review procedure described in Section 5.11.

     (7)  In order to be entitled to the resumption of payment of benefits, the
          Participant must notify the Committee in writing that he has ceased to
          perform substantial service. The notification by the Committee which
          is described in Subsection (4)

                                      2-4

<PAGE>

          above shall describe the procedure which the Participant must follow
          in notifying the Committee that he has ceased to perform substantial
          service and shall include any forms which the Participant must file
          with the Committee in connection therewith.

     (8)  If a Participant, the payment of whose benefits has been suspended,
          resumes employment with an Employer, his benefit shall be recomputed
          upon his subsequent retirement to reflect payments previously paid to
          him.

2.2  EARLY RETIREMENT AND RETIREMENT INCOME
     --------------------------------------

     Early retirement under the Plan is retirement from the service of the
Employer prior to the Participant's Normal Retirement Date and on or after the
date as of which he has both attained the age of 55 years and completed 5 years
of Vesting Service. In order to retire under the provisions of this section, the
written consent of the Participant must be filed with the Committee within 90
days of the date as of which his retirement income payments are to commence. In
the event of early retirement, payment of retirement income will be governed,
subject to the provisions of Section 4 hereof, by the following provisions of
this Section 2.2.

     (A)  Early Retirement Date: The Early Retirement Date will be the first day
          ---------------------
of the month coincident with or next following the date a Participant retires
from the service of the Employer under the provisions of this Section 2.2 prior
to his Normal Retirement Date.

     (B)  Amount of Retirement Income: The monthly retirement income payable in
          ---------------------------
the manner described in Section 2.2(C) hereof to a Participant who retires prior
to his Normal Retirement Date shall equal:

          (1)  for any Participant who (a) became a NBC Retirement Plan
               Participant on or after July 15, 1996, (b) was a NBC Retirement
               Plan Participant as of July 14, 1996, but had not attained age 55
               with 5 Years of Credited Service or attained age 50 with 10 Years
               of Credited Service as of December 31, 1996; (c) was neither an
               NBC Retirement Plan Participant nor a CCB Retirement Plan
               Participant; or (d) was a CCB Retirement Plan Participant as of
               July 31, 2001, but either (i) had not attained age 55 with 5
               Years of Vesting Service or attained age 50 with 10 Years of
               Vesting Service as of December 31, 2001 or (ii) is not an
               Electing CCB Retirement Plan Participant, the actuarially
               equivalent monthly income of the Participant's PEP Benefit.

          (2)  for any Participant who was a NBC Retirement Plan Participant as
               of July 14, 1996 and who had attained age 55 with 5 Years of
               Credited Service or had attained age 50 with 10 Years of Credited
               Service as of December 31 1996, the greater of (a) and (b), as
               follows:

                                      2-5

<PAGE>

               (a)  The actuarially equivalent monthly income of the
                    Participant's PEP Benefit.

               (b)  A monthly benefit determined under the provisions of the NBC
                    Retirement Plan as they existed July 14, 1996 assuming such
                    provisions remain in effect until the Participant's
                    retirement date.

          (3)  for any Participant who was a CCB Retirement Plan Participant as
               of July 31, 2001 and who had attained age 55 with 5 Years of
               Vesting Service or had attained age 50 with 10 Years of Vesting
               Service as of December 31, 2001, the greater of (a) and (b), as
               follows:

               (a)  The actuarially equivalent monthly income of the
                    Participant's PEP Benefit.

               (b)  A monthly benefit determined under the provisions of the CCB
                    Retirement Plan as they existed July 31, 2001 assuming such
                    provisions remain in effect until the Participant's
                    retirement date.

          (4)  for any Participant who is an Electing CCB Retirement Plan
               Participant, a monthly benefit determined under the provisions of
               the CCB Retirement Plan as they existed July 31, 2001 assuming
               such provisions remain in effect until the Participant's
               retirement date.

     (C)  Payment of Retirement Income: The retirement income payable in the
          ----------------------------
event of early retirement will be payable on the first day of the month. The
first payment will be made on the Participant's Early Retirement Date and the
last payment will be the payment due immediately preceding the retired
Participant's death; except that if the Participant's benefit is determined
pursuant to Plan Section 2.2(B)(1), (2) or (3)(a), in the event the Participant
dies before be has received retirement income payments for a period of 10 years,
the same monthly benefit that was payable to the Participant will be paid for
the remainder of such 10-year period to the Beneficiary designated by the
Participant, or if no designated Beneficiary is surviving, the same monthly
benefit shall be payable for the remainder of such 10-year period as provided in
Sections 5.2 and 5.3 hereof.

                                      2-6

<PAGE>

2.3  DISABILITY RETIREMENT AND RETIREMENT INCOME
     -------------------------------------------

     (A)  Definition: A Participant may retire from the service of the Employer
          ----------
under the Plan if his service is terminated prior to his Normal Retirement Date
and on or after the Effective Date by reason of his becoming totally and
permanently disabled as defined in Section 2.3(B) below. Such retirement from
the service of the Employer shall herein be referred to as disability
retirement. In the event of disability retirement, uniformly and consistently
applied rules shall be used with respect to all Participants in similar
circumstances and payment of retirement income will be governed, subject to the
provisions of Section 4 hereof, by the following provisions of this Section 2.3.

     (B)  Total and Permanent Disability: A Participant shall be considered
          ------------------------------
totally and permanently disabled for the purposes of the Plan if he is eligible
to receive disability payments from the long-term disability plan sponsored by
the Employer and receives payments from such long-term disability plan until his
Normal Retirement Date.

     (C)  Proof of Disability: The Committee before approving the payment of any
          -------------------
disability retirement income shall require satisfactory proof that the
Participant has become disabled and is eligible for benefits from the long-term
disability plan.

     (D)  Disability Retirement Income: The monthly amount of retirement income
          ----------------------------
which is payable in the manner described in Section 2.3(E) hereof to a
Participant who retires under the provisions of this Section 2.3 due to total
and permanent disability shall be equal to the monthly income payable on his
Normal Retirement Date assuming that he continued in the service of the Employer
until his Normal Retirement Date with no change in his last regular monthly rate
of Compensation and based on his Covered Compensation, if applicable, determined
as of his date of disability; provided, however if the Participant is married on
his date of disability, the amount of his disability benefit will be equal to
the actuarial equivalent of his Accrued Benefit payable in the form of a
Qualified Joint and 50% Survivor Annuity.

     However, a Participant who has satisfied the age and service requirements
to qualify for an early retirement benefit under the provisions of Section 2.2
hereof as of the date of termination of his service due to disability, may elect
to receive his early retirement benefit in lieu of the disability benefit
payable on his Normal Retirement Date.

     (E)  Payment of Disability Retirement Income: The monthly retirement income
          ---------------------------------------
to which the Participant is entitled in the event of his disability retirement
will be payable on the first day of each month. The first payment will be made
on his Normal Retirement Date and the last payment will be the payment due
immediately preceding the retired Participant's death; except that if the
Participant's benefit is determined pursuant to Plan Section 2.1(B)(1),(2) or
(3)(a) or Plan Section 2.2(B)(1), (2) or (3)(a), in the event the Participant
dies before he has received retirement income payments for a period of 10 years,
the same monthly benefit that was payable to the Participant will be paid for
the remainder of such 10-year period to the Beneficiary designated by the
Participant, or, if no designated Beneficiary is surviving, the same monthly
benefit shall be payable for the remainder of such 10-year period as provided in
Sections 5.2 and 5.3 hereof.

                                      2-7

<PAGE>

     (F)  Benefit Payable in the Event of Death of Disabled Participant Prior to
          ----------------------------------------------------------------------
Commencement of Payments: In the event a Participant dies after he has been
------------------------
determined to be totally and permanently disabled by the Committee and prior to
his recovery from his total and permanent disability and prior to his Normal
Retirement Date, his Beneficiary will receive the death benefit, determined and
payable in the manner described in Section 2.4(B) hereof, that would have been
payable on behalf of the Participant under the provisions of Section 2.4(B) if
he had remained in the service of the Employer until the date of his death, with
no change in his last regular monthly rate of Compensation.

     (G)  Recovery from Disability: If the Committee finds that any Participant
          ------------------------
who is entitled to receive a disability retirement income under the provisions
of this Section 2.3 has, at any time prior to his Normal Retirement Date,
recovered from his total and permanent disability, such Participant and his
Beneficiary shall not be entitled to benefits under this Section 2.3 unless he
reenters the service of the Employer and his service is subsequently terminated
by reason of his total and permanent disability in accordance with the
provisions hereof. A Participant shall be deemed to have recovered from his
total and permanent disability for the purposes of the Plan if he is determined
to be no longer disabled under the terms of the long-term disability plan. Any
such Participant who recovers from his disability shall accrue Vesting Service
during the period that he is considered by the Committee to have been totally
and permanently disabled as provided herein; and, if the date of his recovery
from his total and permanent disability is on or after his Initial Vesting Date
and he does not reenter the service of the Employer, he shall be entitled to the
vested retirement income, payable in accordance with the provisions of Section
2.4(A) hereof, computed as though his service had been terminated on the date of
his recovery from his total and permanent disability but based upon his Credited
Service, Final Average Monthly Compensation and Covered Compensation determined
as of the date of termination of his service due to disability.

     2.4  BENEFITS OTHER THAN ON RETIREMENT.
          ----------------------------------

     (A)  Benefit on Termination of Service and on Death After Termination of
          -------------------------------------------------------------------
          Service:
          -------

          (1)  In the event that a Participant's service is terminated prior to
               his Normal Retirement Date or Early Retirement Date, if any, and
               on or after his Initial Vesting Date for any reason other than
               his death, or disability retirement as described in Section 2.3
               hereof, he will be entitled to a monthly retirement income to
               commence on his Normal Retirement Date or, (a) with respect to a
               Participant other than CCB Retirement Plan Participant who has
               not performed an Hour of Service on or after August 1, 2001 and
               other than an Electing CCB Retirement Plan Paticipant, if he so
               requests in writing filed with the Committee at least 30 days but
               not more than 90 days prior to the Annuity Starting Date, to
               commence on the first day of any month prior to his Normal
               Retirement Date and (b) with respect to a CCB Retirement Plan
               Participant who does not perform an Hour of Service on or after
               August 1, 2001 and an Electing CCB Retirement Plan Participant,
               who in either case has five (5) years of

                                      2-8

<PAGE>

               Vesting Service; if he so requests in writing filed with the
               Committee at least 30 days but not more than 90 days prior to the
               Annuity Starting Date, to commence on the first day of any month
               prior to his Normal Retirement Date and on or after the date the
               Participant attains age 55. Such monthly retirement income
               payable in the manner described in Section 2.4(A)(2) hereof to a
               Participant under the provisions of this Section 2.4(A) shall be
               equal to:

               (a)  the Accrued Benefit that he has accrued to the date of
                    termination of his service;

               multiplied by

               (b)  his Vested Percentage, which shall be equal to the
                    percentage specified in the schedule below, based upon his
                    number of years (ignoring fractions) of Vesting Service as
                    of the date of termination of his service:

                       Years of                          Vested
                    Vesting Service                    Percentage
                    ---------------                    ----------

                    Less than 5                              0%
                    5 or more                              100%

                    provided, however, that the Vested Percentage of any
                    Participant who has attained his Normal Retirement Age as of
                    the date of termination of his service shall be 100%; and
                    provided further that the Vested Percentage of any
                    Participant who at the time of the Participant's termination
                    of services was not a Highly Compensated Employees and who
                    terminated services with an Employer within one year of a
                    Change of Ownership or Effective Control due to an announced
                    program of the Employer to reduce the size of the Employer's
                    workforce or eliminate duplicative positions, shall be 100%;

               with the resulting product multiplied by

               (c)  an actuarially computed factor that will convert, if
                    applicable, the amount of monthly retirement income that is
                    payable to the Participant in the manner described in
                    Section 2.4(A)(2) hereof commencing at his Normal Retirement
                    Date to an actuarially equivalent amount of monthly
                    retirement income that is payable to the Participant in the
                    manner described in Section 2.4(A)(2) hereof commencing on
                    his Annuity Starting Date.

                                      2-9

<PAGE>

          (2)  The retirement income payable under Section 2.4(A)(1) above will
               be payable on the first day of each month. The first payment will
               be made, if the Participant shall then be living, on the date as
               of which his retirement income payments are to commence as
               described in Section 2.4(A)(1) above, and the last payment will
               be the payment due immediately preceding his death; except that
               if the Participant's Accrued Benefit is determined pursuant to
               Plan Section 2.1(B)(1), (2) or (3)(a), in the event the
               Participant dies on or after such date of commencement of
               payments but before he has received retirement income payments
               for a period of 10 years, the same monthly benefit that was
               payable to the Participant will be paid for the remainder of such
               10-year period to the Beneficiary designated by the Participant,
               or if no designated beneficiary is surviving, the same monthly
               benefit shall be payable for the remainder of such 10-year period
               as provided in Sections 5.2 and 5.3 hereof. The provisions of
               Sections 3.1 and 4.1 hereof are applicable to the benefits
               provided under this Section 2.4(A).

          (3)  In the event that the terminated Participant dies prior to his
               Annuity Starting Date (without his having received, prior to his
               death, the actuarially equivalent value of the benefit provided
               on his behalf under Section 2.4(A)(1) above), his Beneficiary
               will receive the monthly retirement income, beginning on the
               first day of the month coincident with or next following the date
               of the terminated Participant's death, which can be provided on
               an actuarially equivalent basis by the lump sum value of the
               benefit determined in accordance with Section 2.4(A)(1) above to
               which the terminated Participant was entitled as of the date of
               termination of his service. The monthly retirement income
               payments under this Section 2.4(A)(3) shall, subject to the
               provisions of Section 2.4(B)(4) hereof, be payable for the life
               of the Beneficiary designated or selected under Section 5.2
               hereof to receive such benefit, and, if the Participant's Accrued
               Benefit is determined pursuant to Plan Section 2.1(B)(1), (2) or
               (3)(a), in the event of such Beneficiary's death within a period
               of 10 years after the Participant's death, the same monthly
               amount that was payable to the Beneficiary shall be payable for
               the remainder of such 10-year period in the manner and subject to
               the provisions of Section 5.3 hereof.However, in lieu of payment
               of such benefit in the form of monthly income described above,
               the lump sum value of such benefit may be paid on an actuarially
               equivalent basis to the Participant's designated Beneficiary in
               such other manner and form permitted under Section 2.4(B) hereof
               and commencing on such other date permitted under Section 2.4(B)
               hereof as the Participant may elect in writing filed with the
               Committee or, in the event that a specific election has not been
               made by the Participant and filed with the Committee prior to his
               death, as the Beneficiary may elect in writing filed with the
               Committee.

                                      2-10

<PAGE>

          (4)  Except as specifically provided otherwise in any Supplement
               hereto and except as provided in Section 2.3 with respect to
               disability retirement and Section 2.4 with respect to death, and
               unless specifically provided otherwise in the Plan, the
               Participant whose service is terminated prior to his Initial
               Vesting Date shall not be entitled to any benefit under the Plan
               whatever.

     (B)  Benefit Payable in Event of Death While in Service:
          --------------------------------------------------

     (1)  If the service of a Participant is terminated by reason of his death
          prior to his Required Beginning Date, there shall be payable to the
          Participant's designated Beneficiary a monthly retirement income,
          beginning on the first day of the month coincident with or next
          following the date of the Participant's death, that can be provided on
          an actuarially equivalent basis by:

          (a)  if the Participant's service is terminated by reason of his death
               prior to his Normal Retirement Date, the actuarially equivalent
               lump sum value, determined as of the date of his death, of the
               Accrued Benefit that the Participant has accrued to the date of
               his death;

          (b)  if the Participant's service is terminated by reason of his death
               on or after his Normal Retirement Date, the actuarially
               equivalent lump sum value, determined immediately prior to the
               Participant's death, of the monthly retirement income that the
               Participant would have been entitled to receive under the
               provisions of Section 2.1(B) hereof if he had retired from the
               service of the Employer on the date of his death;

     (2)  Except as provided in Section 2.4(B)(3) below and subject to the
          provisions of Section 2.4(B)(4) below, the monthly retirement income
          payments under this Section 2.4(B) shall be payable for the life of
          the Beneficiary designated or selected under Section 5.2 hereof to
          receive such benefit, and that if the Participant's Accrued Benefit is
          determined pursuant to Plan Section 2.1(B)(1), (2) or (3)(a), in the
          event of such Beneficiary's death within a period of 10 years after
          the Participant's death, the same monthly amount that was payable to
          the Beneficiary shall be payable for the remainder of such 10-year
          period in the manner and subject to the provisions of Section 5.3
          hereof.

     (3)  A Participant may elect, or, in the event that a specific election has
          not been made by the Participant and filed with the Committee prior to
          his death, his designated Beneficiary may elect, in writing filed with
          the Committee, that, in lieu of payment of the benefit provided under
          this Section 2.4(B) (or, if applicable, under Section 2.3(F) or
          2.4(A)(3) hereof) in the manner described above, such benefit will be
          paid on an actuarially equivalent basis to the designated Beneficiary
          commencing on the first day of any month that is on or after the date
          of the Participant's death and is on or prior to the Participant's
          Required Beginning Date and is payable in accordance with one of the
          options described below:

                                      2-11

<PAGE>

          Option A: A monthly retirement income in equal amounts that is
          --------
                    payable to the Beneficiary for his lifetime, with the added
                    provision that payments in the same monthly amount will be
                    made for the remainder of a 10-year period certain in the
                    event of the death of the Beneficiary prior to the
                    expiration of such specified period certain.

          Option B: A retirement income in equal amounts that is payable for
          --------
                    either a 5 year or ten year period certain which is
                    specified by the Participant or his Beneficiary, as the case
                    may be, in his written election filed with the Committee. In
                    the event of the Beneficiary's death prior to the expiration
                    of such specified period certain, the same amount shall be
                    payable for the remainder of the specified period certain in
                    the manner and subject to the provisions of Section 5.3
                    hereof.

          Option C: A lump-sum payment; provided, however, that such option is
          --------
                    only available to Participants other than CCB Retirement
                    Plan Participants who have not performed an Hour of Service
                    on or after August 1, 2001 and other than Electing CCB
                    Retirement Plan Participants; and provided further, that any
                    former participant in the Security Capital Bancorp
                    Employees' Pension Plan who is not otherwise eligible for a
                    lump sum payment hereunder, but whose benefits were
                    transferred to the CCB Retirement Plan as part of the merger
                    of such plan with the CCB Retirement Plan which occurred as
                    of May 19, 1995, may elect this option if the actuarial
                    equivalent value of such Participant's accured benefit under
                    the Security Capital Bancorp Employees' Pension Plan
                    determined as of May 19, 1995 is $10,000 or less. A
                    Beneficiary may elect a lump-sum payment only within four
                    months of receipt of a certification of plan benefits.

          Provided, however, that payment of any such benefit shall be subject
          to the provisions of Section 2.4(B)(4) below.

     (4)  Any form of payment applicable to the death benefit provided under
          this Section 2.4(B) (or, if applicable, under Section 2.3(F) or
          2.4(A)(3) hereof), which has been designated by a Participant prior to
          January 1, 1984 under the terms of the Superseded Plan and which
          satisfies the traditional rule in Section 242(b)(2) of the Tax Equity
          and Fiscal Responsibility Act of 1982 (P.L. 97-248), will continue in
          effect on and after the Effective Date with respect to the death
          benefits provided under this Section 2.4(B) (or, if applicable, under
          Section 2.3(F) or 2.4(A)(3) hereof) unless such designated form of
          payment has been or is subsequently revoked or changed (a change of
          Beneficiaries under the designation will not be considered to be a
          revocation or change of such form of payment so long as the change in
          Beneficiaries does not alter, directly or indirectly, the period over
          which distributions are to be made under such form of payment);
          provided,

                                      2-12

<PAGE>

          however, if a Participant, whose death occurs on or after his Initial
          Vesting Date, had been married to his spouse throughout the one-year
          period immediately preceding his death and he had designated a person
          other than his spouse as his Beneficiary and such spouse has not
          consented to such other person being designated, the provisions of
          Section 4.1(D) hereof shall apply with respect to payments due his
          surviving spouse, if any. Subject to the preceding sentence and except
          to the extent otherwise permissible under Section 401(a)(9) of the
          Internal Revenue Code including the provisions of Proposed Regulation
          1.401(a)(9)-2 and regulations issued pursuant thereto, the benefit
          payable under this Section 2.4(B) (or, if applicable, under Section
          2.3(F) or 2.4(A)(3) hereof) on behalf of any Participant must be
          payable in a manner that satisfies the restrictions of Section
          401(a)(9) of the Internal Revenue Code including the provisions of
          Proposed Regulation 1.401(a)(9)-2 and must:

          (a)  commence not later than the Participant's Required Beginning
               Date; provided, however, if the Beneficiary is not the
               Participant's spouse, distribution must commence not later than
               one year after the date of the Participant's death or, if the
               Participant's surviving spouse was his Beneficiary and such
               surviving spouse dies prior to the commencement of benefit
               payments, distribution must commence not later than one year
               after the date of such surviving spouse's death; and

          (b)  be distributed to the Participant's Beneficiary over one or a
               combination of the following periods:

               (i)  the life of his Beneficiary; or

               (ii) a period certain not extending beyond the life expectancy of
                    the Beneficiary;

          provided, however, if the Participant has no designated Beneficiary or
          if the designated Beneficiary is not a living person, such benefit
          must be distributed in its entirety to the Beneficiary not later than
          the fifth anniversary of the date of (i) the Participant's death or
          (ii) the death of the Participant's spouse, whichever death is the
          later to occur. Any amount payable to a child of the Participant shall
          be treated for the purposes of this Section 2.4(B)(4) as if it had
          been payable to the surviving spouse of the Participant if such amount
          that is payable to the child will become payable to such surviving
          spouse upon such child's reaching majority (or upon the occurrence of
          such other designated event permitted under regulations issued with
          respect to Section 401(a)(9) of the Internal Revenue Code including
          the provisions of Proposed Regulation 1.401(a)(9)-2). In the event
          that the Beneficiary to receive the death benefit payable under
          Section 2.3(F), 2.4(A)(3) or 2.4(B) hereof on behalf of a Participant
          whose death occurs prior to his Normal Retirement Date is his
          surviving spouse, the retirement income payable to such surviving
          spouse under Section 2.3(F), 2.4(A)(3) or 2.4(B) hereof shall be
          deferred and be payable on an actuarially equivalent basis to such
          surviving

                                      2-13

<PAGE>

          spouse commencing on the Participant's Normal Retirement Date, if such
          surviving spouse is then living, unless (i) the surviving spouse
          consents or elects in writing to receive such benefit commencing as of
          a date that is prior to the Participant's Normal Retirement Date and
          is on or after the date of the Participant's death, (ii) the date of
          death of the Participant is prior to his Initial Vesting Date, (iii)
          the Participant had not been married to his surviving spouse
          throughout the one-year period immediately preceding his death or (iv)
          a lump-sum payment is payable to his surviving spouse under the
          provisions of Section 3.2 hereof.

     (5)  If the service of a Participant is terminated by reason of his death
          on or after his Required Beginning Date, there shall be payable to the
          Participant's designated Beneficiary the monthly retirement income,
          payable in the manner described in Section 2.4(B)(2) or 2.4(B)(3)
          above beginning on the first day of the month coincident with or next
          following the date of the Participant's death, that can be provided on
          an actuarially equivalent basis by an amount equal to the excess, if
          any, of:

          (a)  the amount described in Section 2.4(B)(1)(a) or Section
               2.4(B)(1)(b), whichever is applicable;

          over

          (b)  the sum of:

               (i)  the actuarially equivalent lump sum value, determined as of
                    the Participant's Required Beginning Date, of the retirement
                    income that was payable on his behalf commencing on his
                    Required Beginning Date, accumulated with interest from his
                    Required Beginning Date until the date of his death;

               plus

               (ii) the sum of the actuarially equivalent lump sum values,
                    determined as of each applicable Post Payment Recalculation
                    Date occurring after the Participant's Required Beginning
                    Date, of the additional retirement income, if any, payable
                    to such Participant commencing on such applicable Post
                    Payment Recalculation Date, accumulated with interest from
                    the applicable Post Payment Recalculation Date to the date
                    of his death.

     Additional retirement income payments may be payable after the
     Participant's death to his joint pensioner or other Beneficiary, depending
     upon the form of payment of the retirement income that the Participant was
     receiving immediately prior to his death and taking into account the
     increase, if any, that would have applied under the provisions of Section
     2.1(D) hereof to the amount of retirement income payable to the Participant

                                      2-14

<PAGE>

     commencing as of the first day of the month coincident with or next
     following the date of the Participant's death if the Participant had
     retired immediately prior to his death and had survived to such day.

                                      2-15

<PAGE>

                                    SECTION 3
                                    ---------
                SPECIAL PROVISIONS REGARDING PAYMENT OF BENEFITS
                ------------------------------------------------

3.1  OPTIONAL FORMS OF RETIREMENT INCOME
     -----------------------------------

     In lieu of the amount and form of retirement income commencing on the
Participant's regularly scheduled Annuity Starting Date which is payable,
subject to the provisions of Section 4.1 hereof, in the event of his normal
retirement, early retirement, disability retirement or termination of service,
as determined and specified in Section 2.1, 2.2, 2.3 or 2.4(A) hereof, whichever
is applicable, such Participant, upon written request to the Committee, may
elect to receive a retirement income or benefit of equivalent actuarial value
payable in accordance with one of the options described below commencing on his
regularly scheduled Annuity Starting Date or commencing on such later date,
which shall not be later than his Required Beginning Date, as the Participant
may specify in his written request to the Committee.

     Option 1:      A retirement income of modified monthly amount that is
                    payable in equal monthly amounts to the Participant for his
                    lifetime, and, in the event that the Participant predeceases
                    a joint pensioner designated by him, a percentage, which is
                    either 50% or 100% and is specified by the Participant in
                    his written request to the Committee, of such modified
                    monthly amount will be payable after the death of the
                    Participant to such designated joint pensioner for the
                    lifetime of such joint pensioner. This option is referred to
                    herein as the "Qualified Joint and 50% Survivor Annuity
                    Option" when the spouse of the Participant is the designated
                    joint pensioner and the specified percentage is 50%.

     Option 2:      A retirement income that is payable in equal monthly amounts
                    to the Participant for his lifetime.

     Option 3:      A retirement income that is payable in equal monthly amounts
                    to the Participant for his lifetime, with the added
                    provision that payments will be made for the remainder of a
                    10 year, 15 year or 20 year period certain, as specified by
                    the Participant in which written request to the Committee.

     Option 4:      A lump-sum payment; provided however, that such option is
                    only available to Participants other than CCB Retirement
                    Plan Participants who have not performed an Hour of Service
                    on or after August 1, 2001 and other than Electing CCB
                    Retirement Plan Participants; and provided further, that any
                    former participant in the Security Capital Bancorp
                    Employees' Pension Plan who is not otherwise eligible for a
                    lump sum payment hereunder, but whose benefits were
                    transferred to the CCB Retirement Plan as part of the merger
                    of such plan with the CCB Retirement Plan which occurred as
                    of May 19, 1995, may elect this option if the actuarial
                    equivalent value of such Participant's accrued benefit under
                    the Security Capital Bancorp Employees' Pension Plan
                    determined as of May 19, 1995 is $10,000 or less. In the
                    case of a distribution that is

                                      3-1

<PAGE>

                    in excess of the maximum amount permissible as an
                    involuntary cash-out under Sections 411(a)(11) and 417(e) of
                    the Internal Revenue Code, the Participant and his spouse,
                    if any, must elect in writing to receive such lump-sum
                    payment in lieu of a monthly income payable from the Plan. A
                    Participant may make this election only within four months
                    of his receipt of a certification of his retirement plan
                    benefits.

     The amount of retirement income determined under any of the above optional
forms of payment must satisfy the permitted disparity requirements of Sections
401(a)(4) and 401(1) of the Internal Revenue Code and rulings and regulations
issued with respect thereto, and, any provisions hereof to the contrary
notwithstanding, any optional form of payment which would otherwise be permitted
under the provisions of this Section 3.1 shall not be available to a Participant
if the amount of retirement income payable under such option would result in the
amount of retirement income payable on behalf of such Participant under the Plan
being increased by a percentage that would cause the disparity in the rate of
employer-derived benefits under the Plan to exceed the maximum disparity
permitted under Sections 401(a)(4) and 401(1) of the Internal Revenue Code and
rulings and regulations issued with respect thereto.

     Any optional form of payment designated by a Participant prior to January
1, 1984, which satisfies the transitional rule in Section 242(b)(2) of the Tax
Equity and Fiscal Responsibility Act of 1982 (P.L. 97-248), will continue in
effect on and after the Effective Date of the Plan unless such optional form of
payment has been or is subsequently revoked or changed (a change of
Beneficiaries under the designation will not be considered to be a revocation or
change of such optional form of payment so long as the change in Beneficiaries
does not alter, directly or indirectly, the period over which distributions are
to be made under such form of payment); provided, however, that the provisions
of Section 4.1(C) hereof shall apply if the Participant has a spouse at the date
on which his initial payment under such optional form is due and his spouse does
not consent to such optional form of payment. Subject to the preceding sentence
but notwithstanding any other provision of this Section 3.1 to the contrary, any
option elected under this Section 3.1 must provide that the entire interest of
the Participant will be expected to be distributed to the Participant and his
Beneficiaries and joint pensioners, in a manner that satisfies the restrictions
of Section 401(a)(9) of the Internal Revenue Code including the provisions of
Proposed Regulation 1.401(a)(9)-2, over one or a combination of the following
periods:

     (1)  the life of the Participant;

     (2)  the lives of the Participant and his designated Beneficiary or joint
          pensioner;

     (3)  a period certain not extending beyond the life expectancy of the
          Participant; or

     (4)  a period certain not extending beyond the joint life and last survivor
          expectancy of the Participant and his designated Beneficiary or joint
          pensioner.

     Any amount that is payable to the child of a Participant under an optional
form of payment hereunder shall be treated for the purposes of satisfying the
requirements of this paragraph as if it had been payable to the surviving spouse
of the Participant if such amount that

                                      3-2

<PAGE>

is payable to the child will become payable to such surviving spouse upon such
child's reaching majority (or upon the occurrence of such other designated event
permitted under regulations issued with respect to Section 401(a)(9) of the
Internal Revenue Code including the provisions of Proposed Regulation
1.401(a)(9)-2).

     Retirement income payments will be made under the option elected in
accordance with the provisions of this Section and will be subject to the
following limitations:

     (1)  If a Participant's service is terminated by reason of his death prior
          to his Annuity Starting Date, no benefit will be payable under the
          option to any person, but a benefit may be payable on his behalf in
          accordance with the provisions of Section 2.4(B) hereof.

     (2)  If a terminated Participant dies after the date of termination of his
          service and prior to his Annuity Starting Date, no benefit will be
          payable under the option to any person, but a benefit may be payable
          on his behalf under the provisions of Section 2.4(A)(3) hereof.

     (3)  In the case of a Participant who is married and who elects an option
          under which the commencement of payment of his retirement income is
          deferred beyond his regularly scheduled Annuity Starting Date, the
          option elected by such Participant must provide that a monthly
          lifetime income equal to or greater than a qualified preretirement
          survivor annuity (within the meaning of Section 417(c) of the Internal
          Revenue Code) will be payable to his surviving spouse in the event of
          his death after such regularly scheduled Annuity Starting Date and
          prior to his elected Annuity Starting Date unless his spouse consents
          to the option not providing such an income.

     (4)  If the designated Beneficiary or joint pensioner dies before the
          Participant's Annuity Starting Date, the option elected will be
          canceled automatically and the retirement income payable to the
          Participant will be paid in the applicable form described in Section 2
          hereof unless a new election is made in accordance with the provisions
          of this Section or unless a new Beneficiary or joint pensioner is
          designated by the Participant prior to the date that his retirement
          income commences under the Plan and within 90 days after the death of
          the prior Beneficiary or joint pensioner.

     (5)  If the Participant and, if applicable, his joint pensioner and his
          designated Beneficiary all die after the Participant's Annuity
          Starting Date but before the full payment has been effected under any
          option providing for payments for a period certain and if the commuted
          value of the remaining payments is equal to or less than the maximum
          amount that is permissible as an involuntary cashout of accrued
          benefits under Sections 411(a)(11) and 417(e) of the Internal Revenue
          Code and regulations issued with respect thereto, the commuted value
          of the remaining payments shall, subject to the provisions of Section
          3.2 hereof, be paid in a lump sum in accordance with the provisions of
          Section 5.3 hereof.

                                      3-3

<PAGE>

     (6)  If the Participant dies after his Annuity Starting Date, payment of
          his remaining interest, if any, shall be distributed, to the extent
          required by Section 401(a)(9) of the Internal Revenue Code including
          the provisions of Proposed Regulation 1.401(a)(9)-2 and regulations
          issued with respect thereto, at least as rapidly as provided under the
          method of payment in effect prior to his death.

3.2  LUMP-SUM PAYMENT OF SMALL RETIREMENT INCOME
     -------------------------------------------

     Notwithstanding any provision of the Plan to the contrary, if the
actuarially equivalent lump sum value of the retirement income or other benefit
payable to any person entitled to any benefit hereunder is equal to or less than
the maximum amount that is permissible as an involuntary cash-out of accrued
benefits under Sections 411(a)(11) and 417(e) of the Internal Revenue Code and
regulations issued with respect thereto ($5,000 as of January 1, 1998), the
actuarial equivalent of such retirement income or other benefit shall, subject
to the provisions below, be paid in a lump sum.

     If the present value of the vested accrued benefit that is payable on
behalf of any Participant whose service is terminated (either before, on or
after the Effective Date) is zero, the Participant shall be deemed to have
received a distribution of his vested accrued benefit as of the date of
termination of his service.

3.3  BENEFITS APPLICABLE TO PARTICIPANT WHO HAS BEEN
     -----------------------------------------------
     OR IS EMPLOYED BY TWO OR MORE EMPLOYERS
     ---------------------------------------

     In the event that a Participant's service is terminated for any reason and
such Participant has been or is employed by any two or more Employers, his
retirement or termination benefit, if any, shall be computed by applying the
benefit formulas as if all the Employers were a single Employer; provided,
however, if the Plan does not represent a single plan with respect to all such
Employers, there must be a proper allocation (taking into account the Credited
Service and Compensation applicable to each Employer or group of Employers with
respect to which the Plan represents a single plan) of the costs of the
resulting benefits among the Employers (with respect to which the Plan does not
represent a single plan) by which such Participant has been or is employed.

3.4  NO DUPLICATION OF BENEFITS
     --------------------------

     Unless the context clearly provides otherwise, there shall be no
duplication of benefits under the Plan or under any Supplement hereto, and the
benefits payable under any Section of the Plan to or on behalf of a Participant
shall be inclusive of the benefits, if any, concurrently payable to or on behalf
of the same Participant under all other sections of the Plan and under any
Supplement hereto.

                                      3-4

<PAGE>

                                    SECTION 4
                                    ---------
                  GOVERNMENTAL REQUIREMENTS AFFECTING BENEFITS
                  --------------------------------------------

4.1  SPECIAL PROVISIONS REGARDING AMOUNT AND PAYMENT OF RETIREMENT INCOME
     --------------------------------------------------------------------

     The amount and payment of retirement income determined under Sections 2.1,
2.2, 2.3 and 2.4 hereof shall be subjected to the following provisions of this
Section 4.1.

     (A)  Limitation Imposed by Section 415 of Internal Revenue Code:

     (1)  Maximum Amount of Retirement Income: Any provisions herein to the
          -----------------------------------
          contrary notwithstanding, in no event shall the monthly retirement
          income that is payable on or after the first day of the limitation
          year beginning in 1987 to a Participant hereunder exceed the maximum
          amount of retirement income for defined benefit plans as specified in
          Section 415 of the Internal Revenue Code and regulations and rulings
          issued pursuant thereto; provided, however, that:

          (a)  the maximum amount of retirement income applicable to a
               Participant who was a participant in the Superseded Plan, if any,
               before the limitation year beginning in 1983 and whose Credited
               Service includes service that was accrued prior to such
               limitation year, shall not be less than his current accrued
               benefit within the meaning of Section 235(g)(4) of the Tax Equity
               and Fiscal Responsibility Act of 1982;

          and

          (b)  such maximum amount of retirement income applicable to a
               Participant who was a participant in the Superseded Plan, if any,
               before the limitation year beginning in 1987 and whose Credited
               Service includes service that was accrued prior to such
               limitation year, shall not be less than his current accrued
               benefit within the meaning of Section 1106(i)(3)(B) of the Tax
               Reform Act of 1986;

          and provided further, however, for any Plan Year ending on or before
          December 31, 1999, in the event that the sum of the defined benefit
          plan fraction and defined contribution plan fraction of a Participant,
          who is a participant in both a defined benefit plan and a defined
          contribution plan maintained by any Controlled Group Members, would
          exceed 1.0, the monthly retirement income payable on his behalf under
          the defined benefit plans shall be reduced to the amount that will
          result in such sum being equal to 1.0. In determining the maximum
          monthly retirement income payable on behalf of any Participant, all
          defined benefit plans (whether or not terminated) of the Controlled
          Group Members are to be treated as one defined benefit plan; and all
          defined contribution plans (whether or not terminated) of the
          Controlled Group Members are to be treated as one defined contribution
          plan. The proportion of the maximum monthly retirement income
          applicable to all such

                                      4-1

<PAGE>

          defined benefit plans of the Controlled Group Members shall be
          determined on a pro rat-a basis depending upon the actuarially
          equivalent amount of retirement income other-wise accrued under each
          such defined benefit plan.

     (2)  Actuarial Assumptions: The mortality and interest assumptions that are
          ---------------------
          used to compute the actuarially equivalent maximum amounts of
          retirement income permitted under the provisions of this Section
          4.1(A) shall be the same as those that are used in computing
          actuarially equivalent benefits payable on behalf of a Participant
          upon his retirement or termination of service and upon the exercise of
          optional forms of retirement income under the Plan except that:

          (a)  the interest rate assumption shall not be less than 5% for the
               purposes of converting the maximum retirement income to a form
               other than a straight life annuity (with no ancillary benefits);

          (b)  the interest rate assumption shall not be greater than 5% for the
               purposes of adjusting the maximum retirement income payable to a
               Participant who is over the social security retirement age within
               the meaning of Section 415(b)(8) of the Internal Revenue Code so
               that it is actuarially equivalent to such a retirement income
               commencing at the social security retirement age; and

          (c)  the factor for adjusting the maximum permissible retirement
               income to a Participant who is less than age 62 years so that it
               is actuarially equivalent to such a retirement income commencing
               at age 62 years shall be equal to (i) the factor for determining
               actuarial equivalence for early retirement under the Plan or (ii)
               an actuarially computed reduction factor determined using an
               interest rate assumption of 5% and the mortality assumptions that
               apply in determining actuarially equivalent monthly retirement
               incomes under the Plan (except that the mortality decrement shall
               be ignored if a death benefit at least equal to the actuarially
               equivalent lump sum value of the Participant's Accrued Benefit
               would be payable under the Plan on behalf of the Participant if
               he remained in the service of the Employer and his service were
               to be terminated by, reason of his death prior to his Normal
               Retirement Date), whichever factor will provide the greater
               reduction. The factor for determining actuarial equivalence for
               early retirement under the Plan for any given age below age 62
               years shall be determined by dividing (aa) the product of the
               early retirement adjustment factor that applies under the Plan at
               such given age multiplied by a factor that will convert, if
               applicable, the amount of retirement income payable in the manner
               described in Section 2.2(C) hereof commencing at such given age
               to an actuarially equivalent amount of retirement income payable
               as straight life annuity commencing at such given age by (bb) the
               pro-duct of the early retirement adjustment factor that applies
               under the Plan at age 62 years multiplied by a factor that will
               convert, if applicable, the amount of retirement income payable
               in the manner described in Section 2.2 hereof commencing at age
               62 years to an actuarially

                                      4-2

<PAGE>

               equivalent amount of retirement income payable as a straight life
               annuity commencing at age 62 years (where such actuarial
               conversion factors used in (aa) and (bb) above shall be
               determined in accordance with the provisions of this Section
               4.1(A)).

     (3) Cost-of-Living Adjustments: In the event that the maximum amount of
     ------------------------------
     retirement income permitted under Section 415 of the Internal Revenue Code
     is increased after the date of commencement of a Participant's retirement
     income and prior to the date of termination of the Plan due to any
     cost-of-living adjustment announced by the Internal Revenue Service
     pursuant to the provisions of Section 415(d) of the Internal Revenue Code,
     the amount of monthly retirement income payable under the Plan to a
     Participant whose retirement income is restricted due to the provisions of
     such Section of the Internal Revenue Code shall be increased, effective as
     of January 1st of the calendar year for which such increase becomes
     effective or, if applicable, as of such other date as the Secretary of the
     Treasury or his delegate may prescribe as the date on which such increase
     shall become effective, to reflect the increase in the amount of retirement
     income that may be payable under the Plan as a result of such
     cost-of-living adjustment; provided, however, if the Employer maintains an
     "excess benefit plan" (within the meaning of Section 3(36) of the Employee
     Retirement Income Security Act of 1974) for the purpose of providing
     benefits for certain Participants in excess of the limitations on
     contributions and benefits imposed by Section 415 of the Internal Revenue
     Code and if the Participant or his Beneficiary receives or has received a
     benefit or benefits under such excess benefit plan and a portion of such
     benefit or benefits would be duplicated by the cost-of-living adjustment
     provided under this paragraph, then such cost-of-living adjustment that
     would represent a duplication of benefits shall not apply to the
     Participant or Beneficiary unless the value of the benefit payable from the
     excess benefit plan that would cause such duplication of benefits under
     this Plan is returned to the Employer by the Participant or Beneficiary
     within 60 days of the effective date of such cost-of-living adjustment or
     the date that such cost-of-living adjustment is announced by the Internal
     Revenue Service, whichever date is later; and provided further, however,
     that such 60-day period may be extended by the Committee if, in its
     opinion, reasonable cause exists for such an extension.

          (4) Special Rule for Participants in the National Bank of Commerce
              --------------------------------------------------------------
     Supplemental Executive Retirement Plan. Notwithstanding the foregoing, the
     --------------------------------------
     maximum monthly retirement income provided to any Participant who received
     a distribution from the National Bank of Commerce Supplemental Executive
     Retirement Plan prior to January 1, 2001 shall not exceed the limitations
     contained in Code Section 415 in effect on December 31, 2001.

     (B)  Requirement With Respect to Form of Payment: The Committee shall
          -------------------------------------------
provide each Participant, during the period beginning 90 days before his Annuity
Starting Date and ending 30 days before his Annuity Starting Date (or as soon
after the expiration of such period as is administratively practicable), written
notification of the terms and conditions of payment that is provided under
Section 2.1(C), 2.2(C), 2.3(E) or 2.4(A) hereof, whichever is applicable,
commencing as of his Annuity Starting Date, and, if the Participant is married,
the terms and

                                      4-3

<PAGE>

conditions of payment that is provided under the Qualified Joint and 50%
Survivor Annuity Option commencing as of such date and the relative financial
effect on the Participant's retirement income under such forms of payment. Any
provisions of Section 2.1, 2.2, 2.3, 2.4(A) or 3.1 hereof to the contrary
notwithstanding, if a Participant does not elect, in writing filed with the
Committee during the election period described below, to receive the retirement
income payable on his behalf on and after his Annuity Starting Date either (i)
under the form of payment that is specified in Section 2.1 (C), 2.2(C), 2.3(E)
or 2.4(A)(2), whichever is applicable, or (ii) under an optional form of payment
described in and subject to the provisions of Section 3.1 hereof, such
Participant shall be deemed to have elected, and the retirement income payable
on and after his Annuity Starting Date shall automatically be paid in accordance
with the provisions of, either:

     (1)  if he does not have a spouse at his Annuity Starting Date, the form of
          payment that is specified in Section 2.1(C), 2.2(C), 2.3(E) or
          2.4(A)(2), whichever is applicable; or

     (2)  if he has a spouse at his Annuity Starting Date, the Qualified Joint
          and 50% Survivor Annuity Option; provided, however, if payment to the
          Participant in the form of a Qualified Joint and 50% Survivor Annuity
          would result in the amount of retirement income payable on behalf of
          such Participant being increased by a percentage that would cause the
          disparity in the rate of his employer-derived benefits under the Plan
          to exceed the maximum disparity permitted under Section 401(1) of the
          Internal Revenue Code and rulings and regulations issued with respect
          thereto, the Qualified Joint and Survivor Annuity of such Participant
          shall be changed to an actuarially equivalent Qualified Joint and
          Survivor Annuity that provides payments in equal monthly amounts to
          the Participant for his lifetime and in the event that he predeceases
          his spouse, the percentage of the monthly retirement income payable to
          such surviving spouse for life shall be increased (in increments of
          5%) until the permitted disparity provided under Section 401(1) of the
          Internal Revenue Code is satisfied or until re-aching a maximum of
          100%, and, if a joint and 100% survivor annuity will not satisfy the
          permitted disparity requirements of said Section 4.01(1), a period
          certain for which payments will be made shall be added to the joint
          and 100% survivor annuity (in increments of one year) until such
          permitted disparity requirements are satisfied.

Any Participant may make an election under this Section at any time (and any
number of times) prior to the commencement of his retirement income or other
benefit payments and during the period beginning on the date which is 90 days
prior to his Annuity Starting Date and ending on the latest to occur of (i) his
Annuity Starting Date, (ii) the date which is 90 days after the date on which he
was provided with the general written explanation described above or (iii) the
date which is 90 days after the date on which he was provided with any specific
detailed information concerning the payment of his retirement income that is
required to be furnished due to the request of the Participant. If any such
Participant does not file his election with the Committee prior to the
expiration of the election period described above, the commencement of his
retirement income will be delayed until the end of such election period or until
such earlier date

                                      4-4

<PAGE>

as of which he files his election with the Committee, but he will be entitled to
a retroactive payment with respect to those retirement income payments which
were delayed. If any Participant has elected a form of payment other than the
automatic form provided above and his retirement income or other benefit
payments have not commenced, he may subsequently revoke such election, in
writing filed with the Committee within the election period described above, in
order to receive his retirement income payable in accordance with the automatic
form provided above. Any provisions of Section 3.1 hereof to the contrary
notwithstanding, if any Participant is not provided with the written
notification described in the first sentence of this Section at least 30 days
before his Annuity Starting Date but he files his election with the Committee,
and his retirement income or other benefit commences, prior to the date which is
30 days after the date on which he was provided with such written notification,
he may subsequently, in writing filed with the Committee prior to the expiration
of such 30-day period, revoke such election and elect to receive his retirement
income payable under any other form of payment that was available to him on his
Annuity Starting Date; provided, however, in order for such revocation and new
election to become effective, he shall be required to return to the Fund, prior
to the expiration of such 30-day period, the portion, if any, of the payments
that he has received that is in excess of the payments due under his newly
elected form of payment, or, at the option of the Participant, future payments
due under such newly elected form of payment may be reduced, over a period not
to exceed 12 months (or such longer period as is required to recover such excess
if the Participant's payments are reduced to zero), until such excess has been
recovered. Any provisions herein to the contrary notwithstanding, the consent of
the Participant's spouse during the applicable election period shall be required
in order for the Participant to receive his retirement income in a form other
than that provided under a Qualified Joint and Survivor Annuity.

     (D)  Qualified Preretirement Survivor Annuity: If a deceased Participant,
          ----------------------------------------
whose death occurs on or after his Initial Vesting Date and prior to his Annuity
Starting Date had been married to his spouse throughout the one-year period
immediately preceding his death and he had designated a person other than his
spouse as his Beneficiary and such spouse has not consented to such other person
being designated as the Beneficiary, the Participant shall be deemed to have:

     (1)  revoked his prior designation of Beneficiary;

     (2)  designated such spouse as his Beneficiary to receive a portion of the
          death benefit payable on his behalf under Section 2.3(F), 2.4(A)(3) or
          2.4(B), whichever is applicable;

     (3)  specified that the portion of the benefit provided under Section
          2.3(F), 2.4(A)(3) or 2.4(B) that is payable to his surviving spouse
          will be payable as an actuarially equivalent monthly income payable on
          the first day of each month with the first payment being due (only if
          said spouse is then living) on the Participant's Normal Retirement
          Date or the first day of the month coincident with or next following
          the date of the Participant's death, whichever is later, and with the
          last payment being the payment due immediately preceding such spouse's
          death;

                                      4-5

<PAGE>

     (4)  specified that the portion of the benefit provided under Section
          2.3(F), 2.4(A)(3) or 2.4(B) that is payable to the surviving spouse
          shall have an actuarially equivalent lump sum value, determined as of
          the date of his death, of the monthly retirement income that would be
          payable to his surviving spouse, commencing on the Participant's
          Earliest Annuity Commencment Date, under the Qualified Joint and 50%
          Survivor Annuity Option if:

          (a)  the Participant's service had been terminated on the date of his
               death for a reason other than disability retirement or death (or,
               if the Particpant is a vested terminated Participant entitled to
               a benefit under Section 2.4(A) hereof, he had survived to the
               Earliest Annuity Commencement Date);

          (b)  the Participant had (for the purposes of determining the amount
               of such monthly retirement income commencing at his Earliest
               Annuity Commencement Date) waived the death benefit coverage
               under Section 2.4(A)(3) hereof, if applicable, during the period
               beginning on the date of his death and ending on his Earliest
               Annuity Commencement Date; and

          (c)  the Participant had died immediately after such commencement of
               payment (one-half of the intial payment which would have been due
               the Participant on his Earliest Annuity Commencement Date shall
               be included in the determination of such lump sum value); and

     (5)  designated such other person (or persons) that was named as his
          Beneficiary under such revoked designation as the Beneficiary to
          receive the remaining portion of such benefit payable on his behalf
          under and in accordance with the provisions of Section 2.3(F),
          2.4(A)(3) or 2.4(B) hereof.

     In lieu of the payment of such benefit to the surviving spouse of a
Participant in the form of monthly income described in Section 4.1(D)(3) above
commencing at the Participant's Normal Retirement Date, such benefit may be paid
on an actuarially equivalent basis to the Participant's spouse in such other
manner and form permitted under Section 2.4(B) hereof and commencing on such
other date permitted under Section 2.4(B) hereof as the surviving spouse may
elect in writing filed with the Committee. For the purposes of Sections
4.1(D)(3) and 4.1(D)(4) above, the Earliest Annuity Commencement Date of a
deceased disabled Participant on whose behalf a death benefit is payable under
Section 2.3(F) hereof and the monthly retirement income that would be payable to
his surviving spouse, commencing on his Earliest Annuity Commencement Date,
under the Qualified Joint and 50% Survivor Annuity Option, shall be determined
as though such Participant had recovered from his total and permanent disability
and had reentered the service of the Employer immediately prior to his death.

     If a deceased Participant, whose death occurs on or after his Initial
Vesting Date and prior to his Annuity Starting Date, had been married to his
spouse throughout the one-year period immediately preceding his death and he had
designated a person other than his spouse as his Beneficiary and such spouse has
consented prior to the Participant's attainment of the age of 35 years to such
other person being designated as the Beneficiary but has not consented to such

                                      4-6

<PAGE>

designation on or after either the Participant's attainment of such age or his
separation from service, unless it is otherwise permissible under the provisions
of Section 417 (or any other applicable section) of the Internal Revenue Code or
regulations or rulings issued pursuant thereto for such a spouse to elect to
waive his or her right to the qualified preretirement survivor annuity, such
consent of such spouse shall be invalid and the benefit payable on behalf of
such Participant shall be determined and payable in the manner described above
as though the Participant spouse had not consented to such other person being
designated as the Beneficiary of the Participant.

     The Committee shall provide each Employee, who is a Participant in the
Plan, within the one-year period immediately following the date on which he
attains the age of 32 years or on which he becomes a Participant in the Plan,
whichever is later, or, if his service is terminated on or after his Initial
Vesting Date and prior to his attaining the age of 35 years, the date of
termination of his service or as soon thereafter as is administratively
practicable, with written notification of (i) the terms and conditions upon
which the Qualified Preretirement Survivor Annuity described above will be
payable to his surviving spouse, (ii) the Participant's right to designate at
any time prior to his death a person other than his spouse as his Beneficiary
and the effect that such a designation will have on the Qualified Preretirement
Survivor Annuity, (iii) the rights of the Participant's spouse in the event that
the spouse does not consent to such designation and (iv) the right of the
Participant to change his Beneficiary designation in accordance with the
provisions of Section 5.2 hereof at any time prior to his death and the effect
that such a change will have upon the Qualified Preretirement Survivor Annuity.

     If the Beneficiary of a Participant is his spouse but the Participant
elects, pursuant to the provisions of Section 2.4(A)(3) or 2.4(B) hereof,
whichever is applicable, an actuarially equivalent form of payment of the
benefit provided under such applicable Section that does not provide for monthly
payments during the lifetime of his spouse in an amount at least as great as the
actuarially equivalent income, if any, that would have been payable to such
spouse under the provisions of the Qualified Joint and 50% Survivor Annuity
Option if the Participant had retired under the provisions of Section 2.1 or 2.2
hereof or his retirement income payments due under Section 2.4(A) hereof had
commenced, whichever is applicable, on the day before his death while said
option was in effect and he had died immediately thereafter, the Committee shall
inform such Participant that such election will constitute an election not to
receive a benefit which has the effect of a Qualified Preretirement Survivor
Annuity provided under a qualified joint and survivor annuity as described in
Section 417 of the Internal Revenue Code, and the consent of the Participant's
spouse shall be required in order for such an election to become effective.

     There shall be no duplication between the benefits provided under Sections
2.3(F), 2.4(A)(3) and 2.4(B) and under the Qualified Preretirement Survivor
Annuity described in this Section 4.1(D), but the benefits under each shall be
inclusive of the benefits under the other.

     (E)  Spousal Consent Requirement and Waiver: Any provisions herein to the
          --------------------------------------
contrary notwithstanding, if the consent of the spouse of the Participant is
required for any reason under the provisions hereof, such consent in order to be
effective must be in writing and witnessed by a Plan representative or a notary
public. In the event that such consent is with respect to the election of a form
of payment other than a Qualified Joint and Survivor Annuity or the

                                      4-7

<PAGE>

designation of a person other than the spouse as the Participant's Beneficiary,
such consent must acknowledge the specific form of payment that has been elected
or the person who has been designated as Beneficiary, as the case may be, and
must acknowledge the effect of such consent. Any of the above to the contrary
notwithstanding, such spousal consent for any reason hereunder shall, unless
otherwise required by the Committee or by applicable law, be waived for the
purposes of the Plan if:

     (1)  the spouse has previously consented to such specified action in
          accordance with the provisions above and such previous consent (a)
          permits changes with respect to such specified action without any
          requirement of further consent by such spouse and (b) acknowledges the
          effect of such consent by the spouse;

     or

     (2)  it is established to the satisfaction of the Committee that such
          consent may not be obtained because there is no spouse, because the
          spouse cannot be located or because of such other circumstances as the
          Secretary of the Treasury or his delegate may prescribe by regulations
          as reasons for waiving the spousal consent requirement.

     (F)  Latest Date of Commencement of Payments: Except to the extent
          ---------------------------------------
otherwise permissible under rules or regulations issued by the Internal Revenue
Service, distribution of the accrued benefit to which a Participant has a
nonforfeitable interest must commence on a date not later than the earlier to
occur of:

     (1)  his Required Beginning Date, regardless of whether or not his service
          has been terminated; or

     (2)  the later of:

          (a)  the date that is no later than the 60th day after the close of
               the Plan Year during which (i) his service is terminated for any
               reason, (ii) he attains the age of 65 years or (iii) the tenth
               anniversary of the date on which he initially commenced
               participation in the Plan or Superseded Plan, whichever is
               latest, occurs; or

          (b)  the date that the Participant elects in accordance with the
               provisions of Section 3.1 hereof as the date of commencement of
               his retirement income;

provided, however, if an election of a form of payment has been made by a
Participant prior to January 1, 1984 that provides for the commencement of his
benefit at a date later than the date applicable under (1) or (2) above and such
election both (i) satisfies the transitional rule in Section 242(b)(2) of the
Tax Equity and Fiscal Responsibility Act of 1982 (P.L. 97-248) and (ii) it has
not been subsequently revoked or changed (a change of Beneficiaries under the
designation will not be considered to be a revocation or change of such form of
payment so long as the change in Beneficiaries does not alter, directly or
indirectly, the period over which distributions are to be made under such form
of payment), distribution of the Participant's accrued benefit shall not be
required to commence prior to the date of commencement specified in such
election.

                                      4-8

<PAGE>

     (G)  No Benefit Reduction Due to Post Termination Social Security Changes:
          --------------------------------------------------------------------
Benefits under the Plan shall not be decreased by reason of any increase in the
benefit levels payable under Title II of the Social Security Act or by reason of
any increase in the wage base under such Title II, if such increase takes place
after September 2, 1974 or (if later) the earlier of the date of first receipt
of such benefits or the date of the Participant's separation from service, as
the case may be.

     (H)  Minimum Preserved Benefit Due to Certain Amendments: In the event that
          ---------------------------------------------------
the Plan or Superseded Plan has been or is amended effective as of a date on or
after January 1, 1989 to eliminate or reduce a subsidy or an early retirement
benefit or to change the actuarial assumptions used to determine actuarially
equivalent benefits payable thereunder, the monthly retirement income or other
benefit, if any, payable under the provisions of Section 2.1, 2.2, 2.3 or 2.4
(and Section 3.1 if an optional form of payment is applicable) to a Participant,
who was a participant in the Plan or Superseded Plan as of the day immediately
preceding the date that the elimination, reduction or change becomes effective
(herein referred to as the 'Preservation Date') and who retires or whose service
is terminated after the Preservation Date, shall be at least equal to the
corresponding amount of the monthly retirement income or other benefit, if any,
payable to him under the provisions of such applicable Section of the Plan (or,
if applicable, the Section of the Superseded Plan that corresponds to such
applicable Section of the Plan) as in effect on the Preservation Date computed
using his Credited Service, Final Average Monthly Compensation and Covered
Compensation (or, if applicable, their corresponding terms under the Superseded
Plan) determined as of the Preservation Date under the provisions of the Plan
(or, if applicable, the Superseded Plan) as in effect on such date and using, if
applicable, the mortality table and interest rate assumptions that applied under
the provisions of the Plan (or, if applicable, the Superseded Plan) as in effect
on the Preservation Date to compute actuarially equivalent benefits payable to a
Participant who retired or whose service was terminated on the Preservation
Date.

     (I)  Direct Rollover Options for Eligible Rollover Distributions:
          -----------------------------------------------------------
Notwithstanding any provision of the Plan to the contrary that would otherwise
limit a Distributee's election under this section, a Distributee may elect, at
the time and in the manner prescribed by the Committee, to have any portion of
an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan
specified by the Distributee in a direct rollover.

4.2  LIMITATIONS ON BENEFITS REQUIRED BY THE INTERNAL REVENUE SERVICE
     ----------------------------------------------------------------

     (A)  Limitation in the Event of Plan Termination: In the event that the
          -------------------------------------------
Plan is terminated, the benefit of any Participant who is a Highly Compensated
Employee (or a highly compensated former Employee) shall be limited to a benefit
that is nondiscriminatory under Section 401(a)(4) of the Internal Revenue Code
and regulations issued with respect thereto.

                                      4-9

<PAGE>

     (B)  Limitation on Annual Payments:
          -----------------------------

     (1)  The provisions of this Section (B) shall apply during each Plan Year
          to those Participants who during such Plan Year (a) are among the 25
          highest-paid Participants (including former Participants) in the Plan
          (determined with respect to each Employer or group of Employers with
          respect to which the Plan represents a separate single plan) and (b)
          are Highly Compensated Employees (or highly compensated former
          Employees) and whose annual payments under the Plan must be restricted
          due to the provisions of Section 401(a)(4) of the Internal Revenue
          Code and regulations issued with respect thereto.

     (2)  To the extent required by Section 401(a)(4) of the Internal Revenue
          Code and regulations issued with respect thereto, the annual benefit
          payable under the Plan to any such Participant to whom the provisions
          of this Section (B) are applicable shall not exceed an amount equal to
          the payments that would be made on his behalf under a single life
          annuity that is the actuarial equivalent of the sum of his accrued
          benefit and his other benefits under the Plan; provided, however, that
          such restriction shall not apply if.

          (a)  after payment of the "benefits" (as defined below) to the
               Participants to whom the provisions of this Section (B) are
               applicable, the remaining value of Plan assets equals or exceeds
               110% of the value of current liabilities within the meaning of
               Section 4120)(7) of the Internal Revenue Code and regulations
               issued with respect thereto;

          or

          (b)  the value of the 'benefits' (as defined below) for such
               Participant is less than 1% of the value of current liabilities
               within the meaning of Section 4120)(7) of the Internal Revenue
               Code and regulations issued with respect thereto.

     (3)  For the purposes of this Section (B), the term 'benefit' shall have
          the meaning assigned in Treasury Regulation 1.401(a)(4)-5(c) and shall
          include loans in excess of the amounts set forth in Section
          72(p)(2)(A) of the Internal Revenue Code, any periodic income, any
          withdrawal values payable to a living Employee, and any death benefits
          not provided for by insurance on the Employee's life.

                                      4-10

<PAGE>

4.3  BENEFITS NOFORFEITABLE IF PLAN IS TERMINATED
     --------------------------------------------

     In the event of the termination or partial termination of the Plan, the
rights of each affected Participant in the Plan to benefits accrued to such date
of termination, to the extent then funded, shall be nonforfeitable, where such
benefits shall be determined and distributed as provided in Section 4.5 hereof;
provided, however, if the participation in the Plan of one or more but not all
Employers that are members of a group of Employers with respect to which the
Plan represents a single plan is terminated, the Plan shall not be considered to
have been terminated for the purposes of this Section 4.3 (although a partial
termination of the Plan may result because of such termination of
participation). Unless specifically, required otherwise by law or by rules or
regulations of the Internal Revenue Service, the nonforfeitable rights granted
to Participants under the provisions of this Section shall not apply with
respect to (i) any benefits (or portions thereof that have been cashed out,
whether voluntarily or involuntarily, under the provisions hereof and that have
not been reinstated (by repayment or by the reinstatement of Credited Service
accrued prior to the date of such cashout) in accordance with the provisions
hereof prior to the date of the termination or partial termination of the Plan
or (ii) any nonvested benefits at the date of termination of service of a
terminated or retired Participant whose service was terminated prior to the date
of termination or partial termination of the Plan.

4.4  MERGER OF PLAN
     --------------

     In the case of the merger or consolidation of the Plan with, or the
transfer of assets or liabilities to, another qualified retirement plan, each
Participant must be entitled to receive a benefit, upon termination of such
other retirement plan after such merger, consolidation or transfer, which is at
least equal to the benefit which he would have been entitled to receive
immediately before the merger, consolidation or transfer if the Plan had been
terminated at that time.

4.5  TERMINATION OF PLAN AND DISTRIBUTION OF TRUST FUND
     --------------------------------------------------

     In the event the Primary Sponsor shall be the subject of a Change of
Ownership or Effective Control, the Plan will automatically be terminated. Upon
termination of the Plan in accordance with the provisions hereof, the share of
the assets of the Trust Fund available for distribution to the affected
Participants and Beneficiaries shall be allocated and distributed in accordance
with the following procedure.

     (A)  The Committee shall determine the date of distribution and the share
in the value of the assets of the Trust Fund that is attributable to each
Employer or group of Employers with respect to which the Plan represents a
single plan.

     (B)  The distribution of the asset value will, subject to the provisions of
Section 417(e)(1) of the Internal Revenue Code, be provided by the purchase of
insured annuities from a company or companies selected by the Committee for each
class of Participants and other persons entitled to benefits under the Plan, as
specified in (C) below, except that, in lieu of the purchase of an annuity, a
lump-sum distribution shall be made to or on behalf of a Participant if the
present value actuarial equivalent of the Particpant's Accrued Benefit exceeds
$5,000 and the

                                      4-11

<PAGE>

Participant elects a lump sum distribution or (i) the actuarially equivalent
lump sum value of the benefit to be distributed to him or on his behalf under
the provisions of this Section 4.5 is equal to or less than $5,000, or is equal
to or less than such larger amount that is permitted as an involuntary cashout
of benefits under rules and regulations of the Internal Revenue Service and
Pension Benefit Guaranty Corporation, and (ii) such distribution may be made
without the necessity of having the consent of the recipient under any
applicable rules or regulations of the Internal Revenue Service or Pension
Benefit Guaranty Corporation. Any annuities purchased pursuant to the provisions
of this Section 4.5 will be subject to the provisions hereof pertaining to the
Qualified Joint and 50% Survivor Annuity Option and to the Qualified
Preretirement Survivor Annuity.

     (C)  The Committee shall determine the asset value available for
distribution on behalf of each Employer or group of Employers with respect to
which the Plan represents a single plan after taking into account the expenses
of such distribution. After having determined such asset value available for
distribution to each such Employer or group of Employers, as the case may be,
and subject to the applicable provisions of any Supplement hereto pertaining to
the distribution of assets upon the termination of the Plan, the Committee shall
allocate such asset value (allocated to the particular Employer or group of
Employers) as of the date of termination of the Plan in accordance with Section
4044 of the Employee Retirement Income Security Act of 1974, as amended.

     (D)  In the event there be asset value remaining after satisfaction of all
liabilities of the Plan to Participants and Beneficiaries, the Plan shall be
amended in order to allocate any such residual assets, after purchase of
annuities for inactive Participants, to the active Participants in the plan on
such date of plan termination. The amendment to the Plan shall provide an
additional benefit equal to the Participant's Final Average Monthly Compensation
multiplied by his Credited Service as of the date of termination further
multiplied by a percentage which will exactly eliminate the residual assets
based upon the mortality and interest rate assumptions described in Section
1.1(B)(2) of the Plan. If the Plan terminates, the benefit for Participants in
the active service of the Primary Sponsor shall be paid in a lump sum as soon as
practical after approval of the appropriate governmental agencies.

For the purpose of this Section, Change in Ownership or Effective Control shall
be defined and deemed to have occurred if

               (1) any individual, entity or group (within the meaning of
          Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934,
          as amended (the "Exchange Act")) (a "Person") acquires beneficial
          ownership (within the meaning of Rule 13d-3 promulgated under the
          Exchange Act) of voting securities of the Primary Sponsor where such
          acquisition causes such person to own twenty percent (20%) or more of
          the combined voting power of the then outstanding voting securities of
          the Primary Sponsor entitled to vote generally in the election of
          directors (the "Outstanding Corporation Voting Securities"); provided,
          however, that for purposes of this Subsection (1), the following
          acquisitions shall not be deemed to result in a Change of Ownership or
          Effective Control: (A) any acquisition directly from the Primary
          Sponsor, (B) any acquisition by the Primary

                                      4-12

<PAGE>

          Sponsor, (C) any acquisition by any employee benefit plan (or related
          trust) sponsored or maintained by the Primary Sponsor or any
          corporation controlled by the Primary Sponsor or (D) any acquisition
          by any corporation pursuant to a transaction that complies with
          clauses (A), (B) and (C) of Subsection (3) below; and provided,
          further, that if any Person's beneficial ownership of the Outstanding
          Corporation Voting Securities reaches or exceeds 20% as a result of a
          transaction described in clause (A) or (B) above, and such Person
          subsequently acquires beneficial ownership of additional voting
          securities of the Primary Sponsor, such subsequent acquisition shall
          be treated as an acquisition that causes such Person to own twenty
          percent (20%) or more of the Outstanding Corporation Voting
          Securities; or

               (2) individuals who as of the date hereof, constitute the Board
          of Directors of the Primary Sponsor (the "Incumbent Board") cease for
          any reason to constitute at least a majority of the Board of Directors
          of the Primary Sponsor; provided, however, that any individual
          becoming a director subsequent to the date hereof whose election, or
          nomination for election by the Primary Sponsor's shareholders, was
          approved by a vote of at least two-thirds 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 of Directors of the Primary Sponsor; or

               (3) the shareholders of the Primary Sponsor approve of a
          reorganization, merger or consolidation or sale or other disposition
          of all or substantially all of the assets of the Primary Sponsor
          ("Business Combination") or, if consummation of such Business
          Combination is subject, at the time of such approval by shareholders,
          to the consent of any government or governmental agency, the obtaining
          of such consent (either explicitly or implicitly by consummation);
          excluding, however, such a Business Combination pursuant to which (A)
          all or substantially all of the individuals and entities who were the
          beneficial owners of the Outstanding Corporation Voting Securities
          immediately prior to such Business Combination beneficially own,
          directly or indirectly, more than sixty percent (60%) of,
          respectively, the then outstanding shares of common stock and the
          combined voting power of the then outstanding voting securities
          entitled to vote generally in the election of directors, as the case
          may be, of the corporation resulting from such Business Combination
          (including, without limitation, a corporation that as a result of such
          transaction owns the Primary Sponsor or all or substantially all of
          the Primary Sponsor'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 Corporation Voting Securities, (B) no Person (excluding
          any employee benefit plan (or related trust) of the Primary Sponsor or
          such corporation resulting from such Business Combination)
          beneficially owns, directly or indirectly, twenty

                                      4-13

<PAGE>

          percent (20%) or more of, respectively, the then outstanding shares of
          common stock of the corporation resulting from such Business
          Combination or the combined voting power of the then outstanding
          voting securities of such corporation except to the extent that such
          ownership existed prior to the Business Combination and (C) at least a
          majority of the members of the board of directors of the corporation
          resulting from such Business Combination were members of the Incumbent
          Board at the time of the execution of the initial agreement, or of the
          action of the Board, providing for such Business Combination; or

               (4) approval by the shareholders of the Primary Sponsor of a
          complete liquidation or dissolution of the Primary Sponsor.

     The successful closing of a merger agreement between National Commerce
Bancorporation and CCB Financial Corporation on or before December 31, 2000
shall not be considered a Change of Ownership or Effective Control for the
purposes of this Plan.

     (E)  The order of priorities for, and the amounts and methods of, the
distributions set forth in (C) above and the rights of Participants and
Beneficiaries to benefits under the Plan shall be subject (i) to the
distribution rules set forth in the Plan, (ii) to the limitations provided by
Section of the Plan, (iii) to any changes, including the recapture of any prior
distributions to Participants, as may be ordered by the Pension Benefit Guaranty
Corporation and (iv) to any changes required by the Internal Revenue Service as
a condition for issuing a favorable determination letter stating that the
distribution of assets will not adversely affect the continued qualified status
of the Plan under Section 401(a) of the Internal Revenue Code.

     (F)  As soon as practicable after both (a) the date that the assets may be
distributed under the rules and regulations of the Pension Benefit Guaranty
Corporation and (b) the date that a favorable determination letter is received
from the Internal Revenue Service stating that in its opinion the method of
distribution will not adversely affect the continued qualified status of the
Plan under Section 401(a) of the Internal Revenue Code, the Committee shall
direct the Trustee to distribute the assets to the affected parties in
accordance with such method.

4.6  SPECIAL PROVISIONS THAT APPLY IF PLAN IS TOP-HEAVY
     --------------------------------------------------

     The provisions of this Section 4.6 shall apply if the Superseded Plan was
or the Plan is a "top-heavy plan" within the meaning of Section 416(g) of the
Internal Revenue Code with respect to any Plan Year beginning after December 31,
1983.

     (A)  Determination of Plan Years in Which Plan is Top-heavy: The Plan shall
          -------------------------------------------------------
          be top-heavy with respect to an applicable Plan Year if:

     (1)  either:

          (a)  any Participant, former Participant or Beneficiary in the Plan is
               a 'key Employee" within the meanings of Sections 416(i)(1) and
               416(i)(5) of the

                                      4-14

<PAGE>

               Internal Revenue Code (hereinafter referred to in this Section
               4.6 as "Key-Employees"); or

          (b)  the Plan is required to be combined with any other plan, which is
               included in the Aggregation Group (as defined below) and which
               has a participant who is a Key Employee, in order to enable such
               other plan to meet the requirements of Section 401(a)(4) or
               Section 410 of the Internal Revenue Code;

     and

     (2)  the ratio (determined in accordance with Section 416 of the Internal
          Revenue Code) as of the last day of the preceding Plan Year or, in the
          case of the first Plan Year, the last day of such first Plan Year
          (such day, whether applicable to the first Plan Year or to subsequent
          Plan Years, is hereinafter referred to in this Section 4.6 as the
          'Determination Date') of:

          (a)  the sum of (i) the present value of the cumulative accrued
               benefits for all Key Employees under all defined benefit plans
               included in the Aggregation Group plus (ii) the aggregate of the
               individual accounts of all Key Employees under all defined
               contribution plans included in such Aggregation Group;

          to

          (b)  a similar sum determined for all Participants, former
               Participants and Beneficiaries - excluding any such Participant
               or former Participant (or his Beneficiary) who was a Key Employee
               for any prior Plan Year but who is not currently a Key Employee
               and also excluding, for Plan Years beginning after December 31,
               1984, any Participant or former Participant (or his Beneficiary)
               who has not at any time during the five-year period ending on the
               Determination Date performed services for any employer
               maintaining a plan included in the Aggregation Group - under all
               defined benefit plans and defined contribution plans included in
               such Aggregation Group; is greater than 60%.

     For the purposes of this Section 4.6, the Aggregation Group shall mean the
Plan plus all other defined benefit plans and defined contribution plans
(including any such plans that terminated during the five-year period ending on
the Determination Date), if any, maintained by the Controlled Group Members;
provided, however, that any defined benefit plan or defined contribution plan of
any Controlled Group Member that (i) does not have any participant who is a Key
Employee and (ii) is not required to be combined with any other plan, which is
included in the Aggregation Group and which has a participant who is a Key
Employee, in order to enable such other plan to meet the requirements of Section
401(a)(4) or Section 410 of the Internal Revenue Code, shall be included in the
Aggregation Group only if such defined benefit plan or defined contribution
plan, together with other plans that are included in the Aggregation Group,

                                      4-15

<PAGE>

as combined group satisfy the requirements of Sections 401(a)(4) and 410 of the
Internal Revenue Code.

     The present value of an accrued benefit under the Plan shall, for the
purposes of this Section 4.6, be determined as of the most recent valuation date
that (i) is used for the Plan Year for computing Plan costs for minimum funding
purposes (regardless of whether a valuation is actually performed for that year)
and (ii) is within the 12-month period ending on the applicable Determination
Date (such valuation date is herein referred to in this Section 4.6 as the
'Valuation Date'). Such present value of accrued benefits under the Plan shall
be computed using 5% interest and the mortality table used for such Plan Year
for computing Plan costs for minimum funding purposes.

     The present value of the cumulative accrued benefits under the other
defined benefit plans included in the Aggregation Group and the aggregate of the
individual accounts under the defined contribution plans included in such
Aggregation Group shall be determined separately for each such plan in
accordance with Section 416 of the Internal Revenue Code and regulations issued
with respect thereto as of the "determination date" that is applicable to each
such separate plan and that falls within the same calendar year that the
Determination Date applicable to the Plan falls.

     Unless required other-wise under Section 416 of the Internal Revenue Code
and regulations issued thereunder, a Participant's (or Beneficiary's) accrued
benefit under the Plan shall be equal to the sum of:

     (1)  an amount equal to either:

          (a)  if his service has not been terminated and he has not reached his
               Normal Retirement Date as of the Valuation Date, the Accrued
               Benefit that he has accrued as of the Valuation Date;

          (b)  if his service has not been terminated and be has reached his
               Normal Retirement Date as of the Valuation Date, the monthly
               retirement income to which he would have been entitled under the
               normal retirement provisions of the Plan if he had retired on the
               Valuation Date;

          or

          (c)  if his service has been terminated as of the Valuation Date, the
               amount of retirement income or other benefit that is payable on
               his behalf under the Plan on and after the Valuation Date;

          plus

     (2)  the aggregate distributions made on his behalf during the five-year
          period ending on the Determination Date;

                                      4-16

<PAGE>

provided, however, that his estimated accrued benefit between the Valuation Date
and Determination Date applicable to the first Plan Year shall be included as
part of his accrued benefit with respect to the first Plan Year only. Any
provisions hereof to the contrary notwithstanding and solely for the purpose of
determining if the Plan is top-heavy with respect to an applicable Plan Year
beginning after December 31, 1986, the accrued benefit of any Employee who is
not a Key Employee shall be determined under the method which is used for
accrual purposes for all defined benefit plans included in the Aggregation Group
or, if a single method is not used for all such defined benefit plans, the
accrued benefit of such Employee shall be determined as though it accrued not
more rapidly than the slowest accrual rate permitted under the fractional
accrual rule of Section 41 1 (b)(1)(C) of the Internal Revenue Code.

     (B)  Minimum Vesting Provisions if Plan Becomes Top-Heavy: Any other
          -----------------------------------------------------
provision of the Plan to the contrary notwithstanding, the Initial Vesting Date
of a Participant in the Plan, who has accrued an Hour of Service during any Plan
Year that is subsequent to the last Plan Year that the Plan was not top-heavy,
for the purpose of determining his eligibility for the benefit provided under
Section 2.4(A) hereof during any Plan Year that is subsequent to the last Plan
Year that the Plan was not top-heavy, shall not be later than (i) the date as of
which he completes two years of Vesting Service or (ii) the first day of the
Plan Year immediately following the last Plan Year that the Plan was not
top-heavy, whichever is later, but the Vested Percentage of the Participant for
the purposes of Section 2.4(A)(1) shall be 100% with respect to the portion of
his Accrued Benefit that is attributable to his own contributions, if any, and
shall not be less than the percentage specified in the schedule below, based
upon the Participant's number of years (ignoring fractions) of Vesting Service
as of the date of termination of his service, with respect to the portion of his
Accrued Benefit that is attributable to employer contributions:

                    Years of Vesting                Vested
                        Service                   Percentage
                    ----------------              ----------
                       Less than 2                     0%
                       2                              20%
                       3                              40%
                       4                              60%
                       5 or More                     100%

In the event that the Plan ceases to be top-heavy with respect to any subsequent
Plan Year, the following provisions will apply with respect to the minimum
benefits to which such a Participant is entitled under Section 2.4(A) hereof
during such subsequent Plan Years that the Plan is not top-heavy:

     (1)  if the Participant had not completed at least two years of Vesting
          Service as of the last day of the last Plan Year during which the Plan
          was top-heavy, his nonforfeitable right to the benefits to which he is
          entitled under Sect-ion 2.4(A) hereof shall be determined as though
          the Plan had never been top-heavy;

     (2)  if the Participant had completed at least two but had not completed at
          least three years of Vesting Service as of the last day of the last
          Plan Year during which the Plan was top-heavy, he shall be eligible
          for a minimum benefit payable under

                                      4-17

<PAGE>

          Section 2.4(A) hereof; such minimum benefit provided under Section
          2.4(A)(1) shall be based upon (a) 100% of the portion of his Accrued
          Benefit that he has accrued as of the date of termination of his
          service that is attributable to his own contributions, if any, plus
          (b) the product of (i) the portion of the Accrued Benefit that he had
          accrued as of the date of termination of his service that is
          attributable to employer contributions multiplied by (ii) his Vested
          Percentage determined as of the last day of the last Plan Year during
          which the Plan was top-heavy;

     (3)  if the Participant had completed at least three years of Vesting
          Service as of the last day of the last Plan Year during which the Plan
          was top-heavy, he shall be eligible for the benefit provided under
          Section 2.4(A) hereof, but the Participant's Vested Percentage shall
          be determined in the same manner as though the Plan had remained
          top-heavy; and

     (4)  the Accrued Benefit that a Participant, whose Vesting Service includes
          service that was accrued on or prior to the last day of the last Plan
          Year that the Plan was top-heavy, has accrued as of any give date
          shall not be less than the actuarial equivalent of (a) the benefit
          provided on his behalf under Section 4.6(C) (1) below as of such given
          date plus (b) the benefit provided on his behalf under Section
          4.6(C)(2)(a) below as of the last day of the last Plan Year during
          which the Plan was top-heavy less (c) the amount of the benefit
          provided on his behalf under Section 4.6(C)(2)(b) below as of such
          given date.

     (C)  Minimum Benefit If Plan Becomes Top-Heavy: In the event that the
          ------------------------------------------
service of a Participant is terminated on or after his Initial Vesting Date for
any reason, the retirement income payable to the Participant under the
provisions of Section 2.1, 2.2, 2.3 or 2.4(A) hereof or, if the service of the
Participant is terminated by reason of his death, the retirement income which he
has accrued as of the date of his death that is used to determine the benefit
payable on his behalf under the provisions of Section 2.4(B) hereof, whichever
is applicable, shall not be less than that amount of retirement income which is
actuarially equivalent (based upon the interest and mortality assumptions that
are being used under the Plan as of the date of his retirement or termination of
service to determine actuarially equivalent non-decreasing annuities) to an
amount equal to the excess, if any, of:

     (1)  a monthly retirement income payable to the Participant for life (with
          w ancillary benefits) commencing at his Normal Retirement Date in an
          amount equal to (i) 2% of his 'IRC 416 Final Average Monthly
          Compensation' multiplied by (ii) his number of years of Vesting
          Service, not in excess of 10 years, that were accrued during those
          Plan Years in which the Plan was top-heavy, with the resulting product
          of (i) and (ii) multiplied by (iii) his Vested Percentage at the date
          of his retirement or termination of service; provided, however, if the
          Participant retires after his Normal Retirement Date, the amount of
          the monthly retirement income determined under this Subparagraph (a)
          shall not be less than the actuarial equivalent of the monthly
          retirement income determined in accordance with this subparagraph that
          would have been payable to the Participant if he had retired on his
          Normal Retirement Date;

                                      4-18

<PAGE>

     over

     (2)  the monthly retirement income payable to the Participant for life
          (with no ancillary benefits) commencing at his Normal Retirement Date
          in an amount equal to the sum of:

          (a)  such amount of income, if any, that he has a nonforfeitable right
               to receive and that is attributable to employer contributions and
               is payable to the Participant under the other defined benefit
               plans, if any, which are included in the Aggregation Group;

          plus

          (b)  such amount of income that can be provided on an actuarially
               equivalent basis (based upon the interest and mortality
               assumptions that are being used under the Plan as of the date of
               his retirement or termination of service to determine actuarially
               equivalent non-decreasing annuities) by the amounts, if any, that
               he has a nonforfeitable right to receive and that are
               attributable to employer contributions and forfeitures that are
               credited to his account under the defined contribution plans, if
               any, included in the Aggregation Group;

provided, however, if the Aggregation Group includes one or more defined
contribution plans and if, with respect to each Plan Year that the Plan is
top-heavy, the Participant has received an allocation of employer contributions
and forfeitures to his account under such defined contribution plan or plans
which is equal to or greater than 5% of the IRC 415 Compensation that he
received during such Plan Year from the employers maintaining plans included in
the Aggregation Group, the minimum benefit described above in this Section
4.6(C) shall not apply to such Participant.

     For the purposes of this Section 4.6(C), a Participant's "IRC 416 Final
Average Monthly Compensation" shall be equal to his average monthly rate of IRC
415 Compensation for the five consecutive calendar years, which are prior to the
January 1st immediately following (i) the date of the Participant's retirement
or termination of service or (ii) the close of the last Plan Year in which the
Plan is top-heavy, whichever is earlier, during which he received the highest
aggregate IRC 415 Compensation. Such average monthly rate will be determined by
dividing the total of such IRC 415 Compensation that he received during such
five-consecutive-calendar year period from the employers maintaining plans
included in the Aggregation Group by the product equal to 12 times the number of
years of Vesting Service which be accrued during such five-calendar-year period.
In the event that the Participant does not receive both IRC 415 Compensation and
Vesting Service during a calendar year or calendar years, such calendar year or
calendar years during which he did not receive both IRC 415 Compensation and
Vesting Service shall be ignored and excluded in determining the five
consecutive calendar years during which he received the highest aggregate IRC
415 Compensation.

                                      4-19

<PAGE>

                                    SECTION 5
                                    ---------

                 MISCELLANEOUS PROVISIONS REGARDING PARTICIPANTS
                 -----------------------------------------------

5.1  PARTICIPANTS TO FURNISH REQUIRED INFORMATION
     --------------------------------------------

     Each Participant, his spouse and his Beneficiaries and joint pensioners
will furnish to the Committee such information as the Committee considers
necessary or desirable for purposes of administering the Plan, and the
provisions of the Plan respecting any payments thereunder are conditional upon
the Participant's, Beneficiary's or joint pensioner's furnishing promptly such
true, full and complete information as the Committee may request.

     Each Participant will submit proof of his age and marital status and proof
of the age and continued life of each Beneficiary and joint pensioner designated
or selected by him to the Committee at such time as required by the Committee.
The Committee will, if such proof of age, marital status or continued life is
not submitted as required, use as conclusive evidence thereof, such information
as is deemed by it to be reliable, regardless of the source of such information.
Any adjustment required by reason of lack of proof or the misstatement of the
age of persons entitled to benefits hereunder, by the Participant or otherwise,
will be in such manner as the Committee deems equitable.

     Any notice or information which, according to the terms of the Plan or the
rules of the Committee, must be filed with the Committee, shall be deemed so
filed at the time that it is actually received by the Committee.

     The Employer, the Committee, and any person or persons involved in the
administration of the Plan shall be entitled to rely upon any certification,
statement, or representation made or evidence furnished by an Employee,
Participant, Beneficiary or joint pensioner with respect to his age or other
facts required to be determined under any of the provisions of the Plan and
shall not be liable on account of the payment of any monies or the doing of any
act or failure to act in reliance thereon. Any such certification, statement,
representation or evidence, upon being duly made or furnished, shall be
conclusively binding upon the person furnishing same; but it shall not be
binding upon the Employer, the Committee, or any other person or persons
involved in the administration of the Plan, and nothing herein contained shall
be construed to prevent any of such parties from contesting any such
certification, statement, representation or evidence or to relieve the Employee,
Participant, Beneficiary or joint pensioner from the duty of submitting
satisfactory proof of any such fact.

5.2  BENEFICIARIES
     -------------

     Subject to the provisions of the following paragraphs of this section, each
Participant may, on a form provided for that purpose, signed and filed with the
Committee, designate a Beneficiary to receive the benefit, if any, which may be
payable under the Plan in the event of his death, and each designation may be
revoked by such Participant by signing and filing with the Committee a new
designation of Beneficiary form.

                                      5-1

<PAGE>

     If a deceased Participant, who has been married to his spouse throughout
the one-year period immediately preceding his death, has designated a person
other than his spouse as his Beneficiary and such spouse has not consented in
accordance with the provisions of Section 4.1(E) hereof, either after the date
of the Participant's separation from service or on or after the date that the
Participant attained the age of 35 years, to such other person being designated
as the Beneficiary, the provisions of Section 4.1(D) hereof, relating to the
qualified preretirement survivor annuity payable to his surviving spouse, will
apply in the event of his death on or after his Initial Vesting Date, and the
Participant will automatically be deemed to have changed his designation of
Beneficiary to the extent necessary to comply with the provisions of Section
4.1(D).

     If a deceased Participant who had a spouse at the date of his death failed
to designate a Beneficiary in accordance with the provisions of this section, he
shall be deemed to have designated his spouse as his Beneficiary. If a deceased
Participant who had no spouse at the date of his death failed to designate a
Beneficiary in accordance with the provisions of this section or if a deceased
Participant (whether or not he has a surviving spouse at the date of his death)
had previously designated a Beneficiary but no designated Beneficiary is
surviving at the date of his death, the death benefit, if any, that may be
payable under the Plan with respect to such deceased Participant may be paid, in
the discretion of the Committee but subject to the provisions of Sections 4.1(D)
and 4.1(E) hereof if the spouse of such deceased Participant is surviving,
either to:

     (1)  any one or more of the persons comprising the group consisting of the
          Participant's spouse, the Participant's descendants, the Participant's
          parents or the Participant's heirs-at-law, and the Committee may
          direct the payment of the entire benefit to any member of such group
          or the apportionment of such benefit among any two or more of them in
          such shares as the Committee, in its sole discretion, shall determine;
          or

     (2)  the estate of such deceased Participant;

or in the event the Committee does not so direct any of such payments, the
Committee may elect to have a court of applicable jurisdiction determine to whom
a payment or payments shall be paid. In any of such cases, if the commuted value
of the remaining monthly income payments is equal to or less than the maximum
amount that is permissible as an involuntary cashout of accrued benefits under
Sections 411(a)(11) and 417(e) of the Internal Revenue Code and regulations
issued with respect thereto, the commuted value of the remaining payments shall,
subject to the provisions of Section 3.2 hereof, be paid in a lump sum. Any
payment made to any person pursuant to the provisions of this Section 5.2 shall
operate as a complete discharge of all obligations under the Plan with respect
to such deceased Participant and shall not be subject to review by anyone but
shall be final, binding and conclusive on all persons ever interested hereunder.

                                      5-2

<PAGE>

5.3  CONTINGENT BENEFICIARIES
     ------------------------

     In the event of the death of a Beneficiary who survives the Participant and
who, at the Beneficiary's death, is receiving benefits pursuant to the
provisions of the Plan within any certain period specified under the Plan with
respect to which death benefits are payable under the Plan after the
Participant's death, the same amount of monthly retirement income that the
Beneficiary was receiving shall be payable for the remainder of such specified
certain period to a person designated by the Participant (in the manner provided
in Section 5.2) to receive the remaining death benefits, if any, payable in the
event of such contingency or, if no person was so named, then to a person
designated by the Beneficiary (in the manner provided in Section 5.2) of the
deceased Participant to receive the remaining death benefits, if any, payable in
the event of such contingency; provided, however, that if no person so
designated be living upon the occurrence of such contingency, then the remaining
death benefits, if any, shall be payable for the remainder of such specified
certain period, in the discretion of the Committee, either to:

     (1)  all or any one or more of the persons comprising the group consisting
          of the Participant's spouse, the Beneficiary's spouse, the
          Participant's descendants, the Beneficiary's descendants, the
          Participant's parents, the Beneficiary's parents, the Participant's
          heirs-at-law or the Beneficiary's heirs-at-law, and the Committee may
          direct the payment of the entire benefit to any member of such group
          or the apportionment of such benefit among any two or more of them in
          such shares as the Committee, in its sole discretion, shall determine;

     or

     (2)  the estate of such deceased Beneficiary;

or in the event the Committee does not so direct any of such payments, the
Committee may elect to have a court of applicable jurisdiction determine to whom
a payment or payments shall be paid. In any of such cases, if the commuted value
of the monthly income payments due for the remainder of the specified certain
period is equal to or less than the maximum amount that is permissible as an
involuntary cashout of accrued benefits under Sections 411(a)(11) and 417(e) of
the Internal Revenue Code and regulations issued with respect thereto, the
commuted value of the remaining payments shall, subject to the provisions of
Section 3.2 hereof, be paid in a lump sum. Any payments made to any person
pursuant to the provisions of this Section 5.3 shall operate as a complete
discharge of all obligations under the Plan with respect to such deceased
Beneficiary and shall not be subject to review by anyone but shall be final,
binding and conclusive on all persons ever interested hereunder.

5.4  PARTICIPANT'S RIGHTS IN TRUST FUND
     ----------------------------------

     No Participant or other person shall have any interest in or any right in,
to or under the Trust Fund, or any part of the assets held thereunder, except as
to the extent expressly provided in the Plan.

                                      5-3

<PAGE>

5.5  BENEFITS NOT ASSIGNABLE
     -----------------------

     Except to the extent required to comply with a qualified domestic relations
order as described in Sections 401(a)(13) and 414(p) of the Internal Revenue
Code, no benefits, rights or accounts shall exist under the Plan which are
subject in any manner to voluntary or involuntary anticipation, alienation,
sale, transfer, assignment, pledge, encumbrance or charge, and any attempt so to
anticipate, alienate, transfer, assign, pledge, encumber or charge the same
shall be null and void; nor shall any such benefit, right or account under the
Plan be in any manner liable for or subject to the debts, contracts,
liabilities, engagements, torts or other obligations of the person entitled to
such benefit, right or account; nor shall any benefit, right or account under
the Plan constitute an asset in case of the bankruptcy, receivership or divorce
of any person entitled under the Plan; and any such benefit, right or account
under the Plan shall be payable only directly to the Participant or Beneficiary,
as the case may be. Where a qualified domestic relations order has been received
by the Committee, the terms and benefits of the Plan will be considered to have
been modified with respect to the Participant affected to the extent that such
order requires benefits to be paid to specified individuals other than the
Participant.

5.6  BENEFITS PAYABLE TO MINORS AND INCOMPETENTS
     -------------------------------------------

     Whenever any person entitled to payments under the Plan shall be a minor or
under other legal disability or in the sole judgment of the Committee shall
otherwise be unable to apply such payments to his own best interest and
advantage (as in the case of illness, whether mental or physical, or where the
person not under legal disability is unable to preserve his estate for his own
best interest), the Committee may in the exercise of its discretion direct all
or any portion of such payments to be made in any one or more of the following
ways unless claim shall have been made therefor by an existing and duly
appointed guardian, tutor, conservator, committee or other duly appointed legal
representative, in which event payment shall be made to such representative:

     (A)  directly to such person unless such person shall be an infant or shall
have been legally adjudicated incompetent at the time of the payment;

     (B)  to the spouse, child, parent or other blood relative to be expended on
behalf of the person entitled or on behalf of those dependents as to whom the
person entitled has the duty of support; or

     (C)  to a recognized charity or governmental institution to be expended for
the benefit of the person entitled or for the benefit of those dependents as to
whom the person entitled has the duty of support.

     The decision of the Committee will, in each case, be final and binding upon
all persons, and the Committee shall not be obliged to see to the proper
application or expenditure of any payments so made. Any payment made pursuant to
the power herein conferred upon the Committee shall operate as a complete
discharge of the obligations of the Trustee and of the Committee.

                                      5-4

<PAGE>

5.7  CONDITIONS OF EMPLOYMENT NOT AFFECTED BY PLAN
     ---------------------------------------------

     The establishment and maintenance of the Plan will not be construed as
conferring any legal rights upon any Participant to the continuation of his
employment with the Employer, nor will the Plan interfere with the right of the
Employer to discipline, lay off or discharge any Participant. The adoption and
maintenance of the Plan shall not be deemed to constitute a contract between the
Employer and any Employee or to be a consideration for, inducement to, or
condition of employment of any person.

5.8  NOTIFICATION OF MAILING ADDRESS
     -------------------------------

     Each Participant and other person entitled to benefits hereunder shall file
with the Committee from time to time, in writing, his post office address and
each change of post office address, and any check representing payment hereunder
and any communication addressed to a Participant, a former Participant, a
Beneficiary or a pensioner hereunder at his last address filed with the
Committee (or, if no such address has been filed, then at his last address as
indicated on the records of the Employer) shall be binding on such person for
all purposes of the Plan, and neither the Committee nor the Trustee shall be
obliged to search for or ascertain the location of any such person.

     If the Committee, for any reason, is in doubt as to whether retirement
income payments are being received by the person entitled thereto, it may, by
registered mail addressed to such person and to such person's designated
Beneficiary, if any, at their address last known to the Committee, notify such
person and his Beneficiary that all unmailed and future retirement income
payments shall be henceforth withheld until the Committee is provided with
evidence of such person's continued life and his proper mailing address or with
evidence of such person's death. In the event that (i) such notification is
mailed to such person and his designated Beneficiary, (ii) the Committee is not
furnished with evidence of such person's continued life and proper mailing
address or with evidence of his death within three years of the date such
notification was mailed and (iii) the Committee is unable to find any person to
whom payment is due under the provisions of the Plan within three years of the
date such notification was mailed, all retirement income and other benefit
payments due shall be forfeited at the end of such three-year period following
the date such notification was mailed; provided, however, if claim for any
forfeited benefit is subsequently made by any such person to whom payment is due
under the Plan, such forfeited benefits due such person shall be reinstated.

5.9  WRITTEN COMMUNICATIONS REQUIRED
     -------------------------------

     Any notice, request, instruction, or other communication to be given or
made hereunder shall be in writing and may be delivered to the addressee
personally, may be delivered to the addressee by a commercial delivery service
at the last address for notice shown on the Committee's records, or may be
deposited in the United States mail fully postpaid and properly addressed to
such addressee at the last address for notice shown on the Committee's records.

                                      5-5

<PAGE>

5.10 BENEFITS PAYABLE AT OFFICE OF TRUSTEE
     -------------------------------------

     All benefits hereunder, and installments thereof, shall be payable at the
office of the Trustee.

5.11 APPEAL TO COMMITTEE
     -------------------

     A Participant or Beneficiary who feels he is being denied any benefit or
right provided under the Plan must file a written claim with the Committee. All
such claims shall be submitted on a form provided by the Committee which shall
be signed by the claimant and shall be considered filed on the date the claim is
received by the Committee.

     Upon the receipt of such a claim and in the event the claim is denied, the
Committee shall, within 90 days after its receipt of such claim, provide such
claimant a written statement which shall be delivered or mailed to the claimant
by certified or registered mail to his last known address, which statement shall
contain the following:

     (A)  the specific reason or reasons for the denial of benefits;

     (B)  a specific reference to the pertinent provisions of the Plan upon
          which the denial is based;

     (C)  a description of any additional material or information that is
          necessary; and

     (D)  an explanation of the review procedure provided below;

provided, however, in the event that special circumstances require an extension
of time for processing the claim, the Committee shall provide such claimant with
such written statement described above not later than 180 days after receipt of
the claimant's claim, but, in such event, the Committee shall furnish the
claimant, within 90 days after its receipt of such claim, written notification
of the extension explaining the circumstances requiring such extension and the
date that it is anticipated that such written statement will be furnished.

     Within 60 days after receipt of a notice of a denial of benefits as
provided above, if the claimant disagrees with the denial of benefits, the
claimant or his authorized representative must request, in writing, that the
Committee review his claim and may request to appear before the Committee for
such review. In conducting its review, the Committee shall consider any written
statement or other evidence presented by the claimant or his authorized
representative in support of his claim. The Committee shall give the claimant
and his authorized representative reasonable access to all pertinent documents
which the Committee deems pertinent and necessary for the preparation of his
claim.

     Within 60 days after receipt by the Committee of a written application for
review of his claim, the Committee shall notify the claimant of its decision by
delivery or by certified or registered mail to his last known address; provided,
however, in the event that special circumstances require an extension of time
for processing such application, the Committee shall

                                      5-6

<PAGE>

so notify the claimant of its decision not later than 120 days after receipt of
such application, but, in such event, the Committee shall furnish the claimant,
within 60 days after its receipt of such application, written notification of
the extension explaining the circumstances requiring such extension and the date
that it is anticipated that its decision will be furnished. The decision of the
Committee shall be in writing and shall include the specific reasons for the
decision presented in a manner calculated to be understood by the claimant and
shall contain reference to all relevant Plan provisions on which the decision
was based. The decision of the Committee shall be final and conclusive.

                                      5-7

<PAGE>

                                    SECTION 6
                                    ---------
                 MISCELLANEOUS PROVISIONS REGARDING THE EMPLOYER
                 -----------------------------------------------

6.1  CONTRIBUTIONS
     -------------

     No contributions shall be required of or permitted to be made by any
Participant. The Employer intends, but does not guarantee, to make annual
contributions in amounts at least equal to the amounts, if any, required to meet
the minimum funding requirements of Section 412 of the Internal Revenue Code, as
specified in the actuary's valuation reports for the applicable periods of time.
Subject to applicable provisions of law, neither the Employer nor any of its
officers, agents or Employees, nor any member of its board of directors, nor any
partner or sole proprietor, guarantees, in any manner the payment of benefits
under the Plan.

6.2  EMPLOYER'S CONTRIBUTIONS IRREVOCABLE
     ------------------------------------

     The Employer shall have no right, title or interest in the Trust Fund or in
any part thereof, and no contributions made thereto shall revert to the Employer
except such part of the Trust Fund, if any, that remains therein after the
satisfaction of all liabilities to persons entitled to benefits under the Plan
and except as provided in the following paragraph.

     All contributions to the Plan are made subject to the qualification of the
Plan under Section 401 of the Internal Revenue Code and to their deductibility
under Section 404 of said Code. In the event that the Plan represents a newly
established retirement plan (and not an amendment of an existing retirement
plan) with respect to an Employer and such qualification of the Plan is denied,
the total contributions of the Employer, adjusted for any earnings or losses of
the Trust Fund attributable thereto, shall be returned to the Employer within
one year of the date of denial of qualification. In the event that a
contribution either is made by a good faith mistake of fact or is disallowed. as
a tax deductible expense under Section 404 of the Internal Revenue Code, the
excess of the amount contributed over either the amount that would have been
contributed if there had not been such a mistake or the amount that is allowed
as a tax deductible expense, as the case may be, with such excess reduced by the
net losses, if any, of the Trust Fund attributable thereto (but without any
increase due to the net earnings, if any, of the Trust Fund attributable
thereto), shall be returned to the Employer within one year of the date of the
mistaken payment or the disallowance of the deduction, as the case may be.

6.3  FORFEITURES
     -----------

     Forfeitures shall not be used to increase the benefits that any Participant
would otherwise receive under the Plan at any time prior to the termination of
the Plan but shall be anticipated in determining the costs under the Plan.

                                      6-1

<PAGE>

6.4  AMENDMENT OF PLAN
     -----------------

     The Plan may be amended from time to time in any respect whatever by formal
action on the part of the Primary Sponsor in the manner described in Section 6.7
hereof specifying such amendment, subject only to the following limitations:

     (A)  Under no condition shall such amendment result in or permit the return
          or repayment to any Employer of any property held or acquired by the
          Trustee hereunder or the proceeds thereof or result in or permit the
          distribution of any such property for the benefit of anyone other than
          the Participants and their Beneficiaries or joint pensioners, except
          to the extent provided by Section 4.5 and Section 6.6 hereof with
          respect to termination of the Plan and expenses of administration,
          respectively.

     (B)  Under no condition shall such amendment change the duties or
          responsibilities of the Trustee hereunder without its written consent.

     Except to the extent permissible to comply with any laws or regulations of
the United States or of any state to qualify this as a tax-exempt plan and
trust, no amendment may be made that would result in a slower rate of vesting
under the Plan for any Participant who has completed at least three years of
Vesting Service as of the effective date of such amendment or, if later, as of
the date such amendment is adopted, unless such amendment provides that each
such Participant may elect, during the period described below, to retain the
rate of vesting in effect under the Plan prior to such amendment in lieu of the
new rate of vesting. The period during which the election described in the
preceding sentence may be made shall begin no later than the date the Plan
amendment is adopted and shall end no earlier than 60 days after (i) the date
the amendment is adopted, (ii) the effective date of such amendment or (iii) the
date the Participant is notified in writing of the amendment by the Committee,
whichever is the latest date to occur.

     Subject to the foregoing limitations, any amendment may be made
retroactively which, in the judgment of the Committee, is necessary or advisable
provided that such retroactive amendment does not deprive a Participant, without
his consent, of a right to receive benefits hereunder which have already vested
and matured in such Participant, except such modification or amendment as shall
be necessary to comply with any laws or regulations of the United States or of
any state to qualify this as a tax-exempt plan and trust.

     The participation in the Plan of Employers other than the Primary Sponsor
shall not limit the power of the Primary Sponsor under the foregoing provisions,
and all amendments by the Primary Sponsor to the Plan shall be binding upon all
other Employers.

     Any Supplement to the Plan adopted by an Employer or Employers shall apply
only to the Employees of the Employer or Employers adopting such supplement and
shall not affect the continued operation of the Plan with respect to any other
Employers.

                                      6-2

<PAGE>

6.5  TERMINATION OF PLAN
     -------------------

     The Plan may be terminated by the Primary Sponsor at any time by formal
action, in the manner described in Section 6.7 hereof, specifying (a) that the
Plan is being terminated and (b) the date as of which the termination is to be
effective. In the event the Plan is to be terminated, the Primary Sponsor shall
notify the Committee and the Trustee of such termination.

     The Plan or participation in the Plan may be terminated in the manner
described above with respect to one, but less than all, of the Employers
theretofore parties hereto and the Plan continued for the remaining Employer or
Employers. The Plan or participation in the Plan shall automatically terminate
as to a particular Employer only upon dissolution of such Employer or upon its
liquidation, merger or consolidation without provisions being made by its
successor, if any, for the continuation of the Plan.

     In the event of the liquidation, dissolution, merger or consolidation of
the Employer under such circumstances that there shall be a successor person,
firm or corporation continuing and carrying on all or a substantial part of its
business, such successor may be substituted for the Employer under the terms of
the Plan by formal action on the part of such successor in the manner described
in Section 6.7 hereof specifying its election to continue the Plan.

6.6  EXPENSES OF ADMINISTRTION
     -------------------------

     The Employer may pay all expenses incurred in the establishment and
administration of the Plan, including expenses and fees of the Trustee, but it
shall not be obligated to do so, and any such expenses not so paid by the
Employer shall be paid from the Trust Fund.

6.7  FORMAL ACTION BY EMPLOYER
     -------------------------

     Any formal action herein permitted or required to be taken by an Employer
shall be:

     (1)  if and when a partnership, by written instrument executed by one or
          more of its general partners or by written instrument executed by a
          person or group of persons who has been authorized by written
          instrument executed by one or more general partners as having
          authority to take such action;

     (2)  if and when a proprietorship, by written instrument executed by the
          proprietor or by written instrument executed by a person or group of
          persons who has been authorized by written instrument executed by the
          proprietor as having authority to take such action;

     (3)  if and when a corporation, by resolution of its board of directors or
          other governing board, or by written instrument executed by a person
          or group of persons who has been authorized by resolution of its board
          of directors or other governing board as having authority to take such
          action; or

     (4)  if and when a joint venture, by formal action on the part of the joint
          venturers in the manner described above.

                                      6-3

<PAGE>

                                    SECTION 7
                                    ---------
                                 ADMINISTRATION
                                 --------------

7.1  ADMINISTRATION BY COMMITTEE
     ---------------------------

     The Plan will be administered by the Administrative Committee appointed by
the Primary Sponsor by formal action on its part in the manner described in
Section 6.7 hereof. Such Committee will consist of (a) a chairman and at least
two additional members or (b) a single individual. Each member may, but need
not, be a director, proprietor, partner, officer or Employee of any Employer,
and each such member shall be appointed by the Primary Sponsor to serve until
his successor shall be appointed in like manner. Any member of the Committee may
resign by delivering his written resignation to the Primary Sponsor and to the
other members, if any, of the Committee. The Primary Sponsor by formal action on
its part in the manner described in Section 6.7 hereof may remove any member of
the Committee by so notifying the member and other Committee members, if any, in
writing. Vacancies on the Committee shall be filled by formal action on the part
of the Primary Sponsor in the manner described in Section 6.7 hereof.

     The Committee, in its discretion, may delegate all or any part of its
responsibilities of administering the provisions of the Plan with respect to any
Employer or group of Employers to one or more individuals whom will be appointed
by such Employer or group of Employers by formal action on its or their part in
the manner described in Section 6.7 hereof. In such event, references to the
"Committee" in any provisions hereof which apply with respect to such delegated
responsibilities shall refer to such individuals instead of the Administrative
Committee.

7.2  OFFICERS AND EMPLOYEES OF COMMITTEE
     -----------------------------------

     The Committee may appoint a secretary who may, but need not, be a member of
the Committee and may employ such agents, clerical and other services, legal
counsel, accountants and actuaries as may be required for the purpose of
administering the Plan. Any person or firm so employed may be a person or firm
then, theretofore or thereafter serving the Employer in any capacity. The
Committee and any individual member of the Committee and any agent thereof shall
be fully protected when acting in a prudent manner and relying in good faith
upon the advice of the following professional consultants or advisors employed
by the Employer or the Committee: any attorney insofar as legal matters are
concerned, any certified public accountant insofar as accounting matters are
concerned and any enrolled actuary insofar as actuarial matters are concerned.

7.3  ACTION BY COMMITTEE
     -------------------

     A majority of the members of the Committee shall constitute a quorum for
the transaction of business and shall have full power to act hereunder. The
Committee may act either at a meeting at which a quorum is present or by a
writing subscribed by at least a majority of the members of the Committee then
serving. Any written memorandum signed by the secretary or any member of the
Committee who has been authorized to act on behalf of the Committee shall

                                      7-1

<PAGE>

have the same force and effect as a formal resolution adopted in open meeting.
Minutes of all meetings of the Committee and a record of any action taken by the
Committee shall be kept in written form by the secretary appointed by the
Committee or, if no secretary has been appointed by the Committee, by an
individual member of the Committee. The Committee shall give to the Trustee any
order, direction, consent or advice required under the terms of the Trust
Agreement, and the Trustee shall be entitled to rely on any instrument delivered
to it and signed by the secretary or any authorized member of the Committee as
evidencing the action of the Committee.

     A member of the Committee may not vote or decide upon any matter relating
solely to himself or vote in any case in which his individual right or claim to
any benefit under the Plan is particularly involved. If, in any case in which
any Committee member is so disqualified to act, the remaining members cannot
agree or if there is only one individual member of the Committee, the Primary
Sponsor, by formal action on its part in the manner described in Section 6.7
hereof, will appoint a temporary substitute member to exercise all of the powers
of a qualified member concerning the matter in which the disqualified member is
not qualified to act.

7.4  RULES AND REGULATIONS OF COMMITTEE
     ----------------------------------

     The Committee shall have the authority to make such rules and regulations
and to take such action as may be necessary to carry out the provisions of the
Plan and will, subject to the provisions of the Plan, decide any questions
arising in the administration, interpretation and application of the Plan, which
decisions shall be conclusive and binding on all parties. The Committee may
allocate or delegate any part of its authority and duties as it deems expedient.

7.5  POWERS OF COMMITTEE
     -------------------

     In order to effectuate the purposes of the Plan, the Committee shall have
the power to construe the Plan and to make equitable adjustments for any
mistakes or errors made in the administration of the Plan, and all such actions
or determinations made by the Committee in good faith shall not be subject to
review by anyone. The Committee is given the power to appoint, in its
discretion, one or more Investment Managers to manage, including the power to
acquire or dispose of, all or any portion of the assets of the Plan and Trust
Fund. The Committee is also given the power to serve as paying agent for the
Trust Fund, if it so desires, or to appoint, in its discretion, a paying agent
or agents to disburse the benefits payable from the Trust Fund and to authorize
and direct the Trustee to make distribution to the Committee as paying agent or
to such other paying agent as the Committee shall direct in writing.

7.6  DUTIES OF COMMITTEE
     -------------------

     The Committee shall, as a part of its general duty to supervise and
administer the Plan:

     (1)  determine all facts and maintain records with respect to any
          Employee's age, amount of Compensation, length of service, Hours of
          Service, Vesting Service, Credited Service and date of initial
          coverage under the Plan, and by application of the facts so determined
          and any other facts deemed material, determine the amount, if any, of
          benefit payable under the Plan on behalf of a Participant;

                                      7-2

<PAGE>

     (2)  establish, carry out and periodically review a funding policy and
          method consistent with the objectives of the Plan and the applicable
          lawful requirements of Title I of the Employee Retirement Income
          Security Act of 1974; provided, however, that any decisions pertaining
          to the amount and timing of contributions by the Employer to the Trust
          Fund are delegated to the Employer;

     (3)  give the Trustee specific directions in writing with respect to:

          (a)  the making of distribution payments, giving the names of the
               payees, the amounts to be paid and the time or times when
               payments shall be made; and

          (b)  the making of any other payments which the Trustee is not by the
               terms of the Trust Agreement authorized to make without a
               direction in writing of the Committee;

     (4)  furnish the Trustee with such information (including information
          relative to the liquidity needs of the Plan) as is deemed necessary
          for the Trustee to carry out the purposes of the Trust Agreement;

     (5)  comply with all applicable lawful reporting and disclosure
          requirements of the Employee Retirement Income Security Act of 1974;

     (6)  comply (or transfer responsibility for compliance to the Trustee) with
          all applicable Federal income tax withholding requirements for
          distribution payments imposed by the Tax Equity and Fiscal
          Responsibility Act of 1982;

     (7)  engage on behalf of all Plan Participants an independent qualified
          public accountant to examine the financial statements and other
          records of the Plan for the purposes of an annual audit and opinion as
          to whether the financial statements and schedules in the annual report
          of the Plan are presented fairly in conformity with generally accepted
          accounting principles, unless such audit is waived by the Secretary of
          Labor or his delegate or unless such audit is otherwise not required;
          and

     (8)  engage on behalf of all Plan Participants an enrolled actuary to
          prepare required actuarial statements, unless this requirement is
          waived by the Secretary of Labor or his delegate or unless such
          actuarial statements are otherwise not required.

     The foregoing list of express duties is not intended to be either complete
or conclusive, and the Committee shall, in addition, exercise such other powers
and perform such other duties as it may deem necessary, desirable, advisable or
proper for the supervision and administration of the Plan.

                                      7-3

<PAGE>

7.7  INDEMNIFICATION OF MEMBERS OF COMMITTEE
     ---------------------------------------

     To the extent not covered by insurance or if there is a failure to provide
full insurance coverage for any reason and to the extent permissible under
corporate by-laws and other applicable laws and regulations, the Employers agree
to hold harmless and indemnify the members of the Committee against any and all
claims and causes of action by or on behalf of any and all parties whomsoever
and all losses therefrom, including, without limitation, costs of defense and
attorneys' fees, based upon or arising out of any act or omission relating to or
in connection with the Plan and Trust Agreement other than losses resulting from
any such person's fraud or willful misconduct.

7.8  ACTUARY
     -------

     The actuary will do such technical and advisory work as the Committee or
the Employer may request, including analysis of the experience of the Plan from
time to time, the preparation of actuarial tables for the making of computations
thereunder, and the submission of actuarial reports to the Primary Sponsor,
which reports shall contain an actuarial valuation showing the financial
condition of the Plan, a statement of the contributions to be made by the
Employers and such other information as may be required by the Committee. The
actuary shall be appointed by the Primary Sponsor to serve as long as it is
agreeable to the Committee, the Primary Sponsor and the actuary.

7.9  FIDUCIARIES
     -----------

     The Trustee is the named fiduciary hereunder with respect to the powers,
duties and responsibilities of investment of the Trust Fund, and the Committee
is the plan administrator and is the named fiduciary hereunder with respect to
the other powers, duties and responsibilities of the administration of the Plan;
provided, however, that certain powers, duties and responsibilities of each of
said named fiduciaries are specifically delegated to others under the provisions
of the Plan and Trust Agreement, and other powers, duties and responsibilities
of any fiduciaries may be delegated by written agreement to others to the extent
permitted under the provisions of the Plan and Trust Agreement.

     The powers and duties of each fiduciary hereunder, whether or not a named
fiduciary, shall be limited to those specifically delegated to each of them
under the terms of the Plan and Trust Agreement. It is intended that the
provisions of the Plan and Trust Agreement allocate to each fiduciary the
individual responsibilities for the prudent execution of the functions assigned
to each fiduciary. None of the allocated responsibilities or any other
responsibilities shall be shared by two or more fiduciaries unless such sharing
shall be provided by a specific provision in the Plan or the Trust Agreement. If
any of the enumerated responsibilities of a fiduciary are specifically waived by
the Secretary of Labor, then such enumerated responsibilities shall also be
deemed to be waived for the purposes of the Plan and Trust Agreement. Whenever
one fiduciary is required by the Plan or the Trust Agreement to follow the
directions of another fiduciary, the two fiduciaries shall not be deemed to have
been assigned a share of any responsibility, but the responsibility of the
fiduciary giving the directions shall be deemed to be his sole responsibility
and the responsibility of the fiduciary receiving those directions shall be to
follow same insofar

                                      7-4

<PAGE>

as such instructions on their face are proper under applicable law. Any
fiduciary may employ one or more persons to render advice with respect to any
responsibility such fiduciary has under the Plan or Trust Agreement.

     Each fiduciary may, but need not, be a director, proprietor, partner,
officer or Employee of the Employer. Nothing in the Plan shall be construed to
prohibit any fiduciary from:

     (1)  serving in more than one fiduciary capacity with respect to the Plan
          and Trust Agreement;

     (2)  receiving any benefit to which he may be entitled as a Participant or
          Beneficiary in the Plan, so long as the benefit is computed and paid
          on a basis that is consistent with the terms of the Plan as applied to
          all other Participants and Beneficiaries; or

     (3)  receiving any reasonable compensation for services rendered, or for
          the reimbursement of expenses properly and actually incurred in the
          performance of his duties with respect to the Plan, except that no
          person so serving who already receives full-time pay from an Employer
          shall receive compensation from the Plan, except for reimbursement of
          expenses properly and actually incurred.

     Each fiduciary shall be bonded as required by applicable law or statute of
the United States, or of any state having appropriate jurisdiction, unless such
bond may under such law or statute be waived by the parties to the Trust
Agreement. The Employer shall pay the cost of bonding any fiduciary who is an
Employee of the Employer.

7.10 APPLICABLE LAW
     --------------

     The Plan will, unless superseded by federal law, be construed and enforced
according to the laws of the State of Tennessee, and all provisions of the Plan
will, unless superseded by federal law, be administered according to the laws of
the said state.

                                      7-5

<PAGE>

                                    SECTION 8
                                    ---------
                                   TRUST FUND
                                   ----------

8.1  PURPOSE OF TRUST FUND
     ---------------------

     The Trust Fund has been created and will be maintained for the purposes of
the Plan, and the moneys thereof will be invested in accordance with the terms
of the agreement and declaration of trust which forms a part of the Plan. All
contributions will be paid into the Trust Fund, and all benefits under the Plan
will be paid from the Trust Fund.

8.2  BENEFITS SUPPORTED ONLY BY TRUST FUND
     -------------------------------------

     Subject to applicable provisions of law, any person having any claim under
the Plan will look solely to the assets of the Trust Fund for satisfaction.

8.3  TRUST FUND APPLICABLE ONLY TO PAYMENT OF BENEFITS
     -------------------------------------------------

     The Trust Fund will be used and applied only in accordance with the
provisions of the Plan, to provide the benefits thereof, and no part of the
corpus or income of the Trust Fund will be used for, or diverted to, purposes
other than for the exclusive benefit of Participants and other persons
thereunder entitled to benefits, except to the extent provided in Section 4.5
and Section 6.6 hereof with respect to termination of the Plan and expenses of
administration, respectively.

                                      8-1

<PAGE>

     IN WITNESS WHEREOF, National Commerce Financial Corporation has caused this
instrument to be executed by its duly authorized officers on this     day of
                                                                  ---
              , 2001, effective as of July 31, 2001.
--------------

(CORPORATE SEAL)

                     NATIONAL COMMERCE FINANCIAL CORPORATION

                     By:
                           -----------------------------
                     Title:
                           -----------------------------

<PAGE>

                                FIRST SUPPLEMENT
                                ----------------
                                       TO
                                       --
             NATIONAL COMMERCE FINANCIAL CORPORATION RETIREMENT PLAN
             -------------------------------------------------------
                As Amended and Restated Effective August 1, 2001

(A)  FIRST SUPPLEMENT A PART OF PLAN
     -------------------------------

     (1)  This FIRST SUPPLEMENT TO NATIONAL COMMERCE FINANCIAL CORPORATION
          RETIREMENT PLAN (herein referred to as the "First Supplement") forms a
          part of the National Commerce Financial Corporation Retirement Plan.

     (2)  All terms used in this First Supplement shall have the meanings
          assigned to them in the provisions of the Plan unless otherwise
          qualified by the context. There shall be no duplication of benefits
          provided under the Plan and this First Supplement, and the actuarially
          equivalent benefits payable under one shall be inclusive of the
          actuarially equivalent benefits payable under the other unless
          specifically provided otherwise in the provisions of the Plan or this
          First Supplement.

(B)  SPECIAL PROVISIONS APPLICABLE TO PARTICIPANTS WHO WERE PARTICIPANTS IN THE
     --------------------------------------------------------------------------
     NBC RETIREMENT PLAN AS OF FEBRUARY 28, 1994
     -------------------------------------------

     The provisions of this Section (B) shall apply only to those Participants
who were active NBC Retirement Plan Participants as of February 28, 1994.

     For purposes of the provisions of Section (B)(1) and (B)(2) of the First
Supplement, Final Average Monthly Compensation will be based on the assumption
that the Participant's basic rate of Compensation as of January 1, 1994 (plus
any bonus paid in January 1994) continues unchanged until his date of retirement
or termination of service. However, a Participant who had attained the age of 55
as of February 28, 1994 shall have his Final Average Monthly Compensation
determined on actual Compensation.

     (1)  Minimum Normal Retirement Income: Subject to the provisions of Section
          --------------------------------
          4.1 of the Plan, the monthly amount of retirement income determined
          under Section 2.1(B) of the Plan which is payable in accordance with
          the provisions of Section 2.1(C) of the Plan to a Participant to whom
          the provisions of this Section (B) are applicable who retires on or
          after his Normal Retirement Date shall not be less than the sum of:

          (a)  1.65% of his Final Average Monthly Compensation multiplied by his
               number of years of Credited Service;

                    plus

                                      S1-1

<PAGE>

          (b)  0.65% of that portion, if any, of his Final Average Monthly
               Compensation that is in excess of the Covered Compensation that
               applies to him multiplied by his number of years of Credited
               Service that are not in excess of 35 years; provided, however,
               that such product shall not exceed (i) 0.75% of that portion, if
               any, of his Final Average Monthly Compensation at such given date
               that is in excess of the Covered Compensation that applies to him
               at such given date multiplied by (ii) his number of years of
               Credited Service at such given date that are not in excess of 35
               years, with the resulting product multiplied by (iii) a factor
               that will effect a reduction of 1/180 for each month that his
               Normal Retirement Date precedes the date on which he will attain
               his Social Security Retirement Age.

          For purposes of the provisions of the First Supplement, "Social
          Security Retirement Age" shall have the meaning given such term by
          Section 415(b)(8) of the Internal Revenue Code and shall be:

          (a)  age 65 years for a Participant whose date of birth is prior to
               January 1, 1938;

          (b)  age 66 years for a Participant whose date of birth is on or after
               January 1, 1938 and is prior to January 1, 1955; and

          (c)  age 67 years for a Participant whose date of birth is on or after
               January 1, 1955.

     (2)  Minimum Early Retirement Income: Subject to the provisions of Section
          -------------------------------
          4.1 of the Plan, the monthly amount of retirement income determined
          under Section 2.2(B) of the Plan which is payable in accordance with
          the provisions of Section 2.2(C) of the Plan to a Participant to whom
          the provisions of this Section (B) are applicable who retires on or
          after his Early Retirement Date shall not be less than:

          (a)  the amount equal to:

               (i)  1.65% of his Final Average Monthly Compensation multiplied
                    by his number of years of Credited Service which he would
                    have accrued if he had continued in the service of the
                    Employer until his Normal Retirement Date;

               multiplied by

               (ii) the fraction in which the numerator is the Credited Service
                    that he has accrued to such given date and the denominator
                    is the Credited Service that he would accrue on his Normal
                    Retirement Date if he

                                      S1-2

<PAGE>

                    continued in full-time service of the Employer after such
                    given date until his Normal Retirement Date;

               multiplied by

               (iii) his Non-Integrated factor, as specified in the Section
                    2.2(B) of the plan, based upon the number of years and full
                    months by which the Participant's Early Retirement Date
                    precedes his Normal Retirement Date;

          plus

          (b)  the amount equal to:

               (i)  0.65% of that portion, if any, of his Final Average Monthly
                    Compensation that is in excess of the Covered Compensation
                    that applies to him multiplied by his number of years of
                    Credited Service which he would have accrued if he had
                    continued in the service of the Employer until his Normal
                    Retirement Date and that are not in excess of 35 years;
                    provided, however, that such product shall not exceed (i)
                    0.75% of that portion, if any, of his Final Average Monthly
                    Compensation at such given date that is in excess of the
                    Covered Compensation that applies to him at such given date
                    multiplied by (ii) his number of years of Credited Service
                    at such given date that are not in excess of 35 years, with
                    the resulting product multiplied by (iii) a factor that will
                    effect a reduction of 1/180 for each month that his Normal
                    Retirement Date precedes the date on which he will attain
                    his Social Security Retirement Age.

               multiplied by

               (ii) the fraction in which the numerator is the Credited Service
                    that he has accrued to such given date and the denominator
                    is the Credited Service that he would accrue on his Normal
                    Retirement Date if he continued in full-time service of the
                    Employer after such given date until his Normal Retirement
                    Date;

               multiplied by

               (iii) his IRS Defined Actuarial Reduction factor, as specified in
                    Section 2.2(B) of the Plan, based upon the number of years
                    and full months by which the Participant's Early Retirement
                    Date precedes his Normal Retirement Date;

                                      S1-3

<PAGE>

(C)  RIGHT TO AMEND OR TERMINATE FIRST SUPPLEMENT
     --------------------------------------------

     The provisions of Sections 6.4 and 6.5 of the Plan with respect to
amendment and termination thereof shall apply with equal force to this First
Supplement.

                                      S1-4

<PAGE>

                                SECOND SUPPLEMENT
                                -----------------
                                       TO
                                       --
             NATIONAL COMMERCE FINANCIAL CORPORATION RETIREMENT PLAN
             -------------------------------------------------------
                As Amended and Restated Effective August 1, 2001

(A)  SECOND SUPPLEMENT A PART OF PLAN
     --------------------------------

     (1)  This SECOND SUPPLEMENT TO NATIONAL COMMERCE FINANCIAL CORPORATION
          RETIREMENT PLAN (herein referred to as the "Second Supplement") forms
          a part of the National Commerce Financial Corporation Retirement Plan.

     (2)  All terms used in this Second Supplement shall have the meanings
          assigned to them in the provisions of the Plan unless otherwise
          qualified by the context. There shall be no duplication of benefits
          provided under the Plan and this Second Supplement, and the
          actuarially equivalent benefits payable under one shall be inclusive
          of the actuarially equivalent benefits payable under the other unless
          specifically provided otherwise in the provisions of the Plan or this
          Second Supplement.

(B)  SPECIAL PROVISIONS APPLICABLE TO PARTICIPANTS WHO WERE PARTICIPANTS IN THE
     --------------------------------------------------------------------------
     RETIREMENT PLAN FOR EMPLOYEES OF WEST BANK OF MEMPHIS ON MARCH 31, 1998
     -----------------------------------------------------------------------

     (1)  The monthly retirement income payable in the manner described in
          Section 2.1(C) of the Plan to a Participant who was a participant in
          the Retirement Plan for Employees of Bank of West Memphis on March 31,
          1998 and who retires on or after his Normal Retirement Date shall be
          an amount equal to the sum of (1) the Participant's Accrued Benefit as
          of March 31, 1998 under the terms of the Retirement Plan for Employees
          of Bank of West Memphis and (2) the amount determined under Section
          2.1 of the Plan taking into account only the Participant's Credited
          Service after March 31, 1998.

     (2)  The monthly retirement income payable in the manner described in
          Section 2.2(C) of the Plan to a Participant who was a participant in
          the Retirement Plan for Employees of Bank of West Memphis on March 31,
          1998 and who retires prior to his Normal Retirement Date shall be an
          amount equal to the sum of (1) the Participant's early retirement
          benefit based on the Accrued Benefit as of March 31, 1998 under the
          terms of the Retirement Plan for Employees of Bank of West Memphis and
          (2) the amount determined under Section 2.2 of the Plan taking into
          account only the Participant's Credited Service after March 31, 1998.

                                      S2-1

<PAGE>

(C)  RIGHT TO AMEND OR TERMINATE SECOND SUPPLEMENT
     ---------------------------------------------

     The provisions of Sections 6.4 and 6.5 of the Plan with respect to
amendment and termination thereof shall apply with equal force to this Second
Supplement.

                                      S2-2<PAGE>

                     NATIONAL COMMERCE FINANCIAL CORPORATION
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
                            EFFECTIVE AUGUST 1, 2001

<PAGE>

                     NATIONAL COMMERCE FINANCIAL CORPORATION
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
                     --------------------------------------

This Supplemental Executive Retirement Plan, hereinafter referred to as the
Plan, effective as of August 1, 2001, constitutes an amendment and restatement
of both the National Bank of Commerce Supplemental Executive Retirement Plan
(the "NBC Plan") and the CCB Financial Corporation Retirement Income Equity Plan
(the "CCB Plan"), which plans are hereby merged into the Plan. The Plan is being
adopted by National Commerce Financial Corporation to provide additional
retirement income for certain key executives who are managerial or highly
compensated employees within the meaning of Section 201(2) of the Employee
Income Retirement Security Act of 1974, as amended.

                             ARTICLE 1 - DEFINITIONS
                             -----------------------

As used herein, the following terms shall have the following meanings unless a
different meaning is plainly required by the context:

1.1  BASIC PLAN: The National Commence Financial Corporation Retirement Plan in
     ----------
     effect on August 1, 2001 and as it may be amended from time to time.

1.2  BENEFICIARY: The party or parties entitled to receive a Participant's
     -----------
     Benefit in the event of the Participant's death.

1.3  BENEFIT: The benefit payable to the Participant pursuant to Article 3,
     -------
     Article 4 or Article 5.

1.4  BOARD: The Board of Directors of the Corporation.
     -----

1.5  CHANGE IN CONTROL: A Change in Control shall be defined and deemed to have
     -----------------
     occurred if

     (1)  any individual, entity or group (within the meaning of Section
          13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as
          amended (the "Exchange Act")) (a "Person") acquires beneficial
          ownership (within the meaning of Rule 13d-3 promulgated under the
          Exchange Act) of voting securities of the Corporation where such
          acquisition causes such person to own twenty percent (20%) or more of
          the combined voting power of the then outstanding voting securities of
          the Corporation entitled to vote generally in the election of
          directors (the "Outstanding Corporation Voting Securities"); provided,
          however, that for purposes of this Subsection (1), the following
          acquisitions shall not be deemed to result in a Change in Control: (A)
          any acquisition directly from the Corporation, (B) any acquisition by
          the Corporation, (C) any acquisition by any employee benefit plan (or
          related trust) sponsored or maintained by the Corporation or any

<PAGE>

          corporation controlled by the Corporation or (D) any acquisition by
          any corporation pursuant to a transaction that complies with clauses
          (A), (B) and (C) of Subsection (3) below; and provided, further, that
          if any Person's beneficial ownership of the Outstanding Corporation
          Voting Securities reaches or exceeds 20% as a result of a transaction
          described in clause (A) or (B) above, and such Person subsequently
          acquires beneficial ownership of additional voting securities of the
          Corporation, such subsequent acquisition shall be treated as an
          acquisition that causes such Person to own twenty percent (20%) or
          more of the Outstanding Corporation Voting Securities; or

     (2)  individuals who as of the date hereof, constitute the Board (the
          "Incumbent Board") cease for any reason to constitute at least a
          majority of the Board; provided, however, that any individual becoming
          a director subsequent to the date hereof whose election, or nomination
          for election by the Corporation's shareholders, was approved by a vote
          of at least two-thirds 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

     (3)  the shareholders of the Corporation approve of a reorganization,
          merger or consolidation or sale or other disposition of all or
          substantially all of the assets of the Corporation ("Business
          Combination") or, if consummation of such Business Combination is
          subject, at the time of such approval by shareholders, to the consent
          of any government or governmental agency, the obtaining of such
          consent (either explicitly or implicitly by consummation); excluding,
          however, such a Business Combination pursuant to which (A) all or
          substantially all of the individuals and entities who were the
          beneficial owners of the Outstanding Corporation Voting Securities
          immediately prior to such Business Combination beneficially own,
          directly or indirectly, more than sixty percent (60%) of,
          respectively, the then outstanding shares of common stock and the
          combined voting power of the then outstanding voting securities
          entitled to vote generally in the election of directors, as the case
          may be, of the corporation resulting from such Business Combination
          (including, without limitation, a corporation that as a result of such
          transaction owns the Corporation or all or substantially all of the
          Corporation'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 Corporation Voting Securities, (B) no Person (excluding
          any employee benefit plan (or related trust) of the Corporation or
          such corporation resulting from such Business Combination)
          beneficially owns, directly or indirectly, twenty percent (20%) or
          more of, respectively, the then outstanding shares of common stock of
          the corporation resulting from such Business Combination or the
          combined voting power of the then outstanding

                                       2

<PAGE>

          voting securities of such corporation except to the extent that such
          ownership existed prior to the Business Combination and (C) at least a
          majority of the members of the board of directors of the corporation
          resulting from such Business Combination were members of the Incumbent
          Board at the time of the execution of the initial agreement, or of the
          action of the Board, providing for such Business Combination; or

     (4)  approval by the shareholders of the Corporation of a complete
          liquidation or dissolution of the Corporation.

     The successful closing of a merger agreement between National Commerce
     Bancorporation and CCB Financial Corporation on or before December 31, 2000
     shall not be considered a Change in Control for the purposes of this Plan.

1.6  CODE: The Internal Revenue Code of 1986, as amended.
     ----

1.7  COMMITTEE: The Committee shall mean the Administrative Committee appointed
     ---------
     from time to time to administer the Basic Plan.

1.8  COMPENSATION: The total compensation, paid by the Corporation to the
     ------------
     Participant as defined in the Basic Plan (but determined without regard to
     the limitations of Code Section 401(a)(17)) increased by any amounts
     deferred by the Participant (for the year in which such amounts would have
     otherwise been payable) under the Corporation's nonqualified deferred
     compensation plan.

1.9  CORPORATION: Corporation shall mean National Commerce Financial
     -----------
     Corporation, its successors and assigns.

1.10 CREDITED SERVICE: Credited Service shall have the same definition as in the
     ----------------
     Basic Plan.

1.11 EARLY RETIREMENT DATE: The later of the Participant's 55th birthday and the
     ---------------------
     date he completes five Years of Vesting Service.

1.12 FINAL AVERAGE MONTHLY COMPENSATION: The amount obtained by dividing (a) the
     ----------------------------------
     amount of Compensation paid to the Participant during the five consecutive
     calendar years out of the last ten which produces the highest such total by
     (b) the number of months during such period during which the Participant
     received any Compensation.

1.13 IRS MAXIMUM MONTHLY COVERED COMPENSATION: The amount shall be equal to
     ----------------------------------------
     one-twelfth of the "covered compensation", within the meaning of Section
     401(1)(5)(E) of the Internal Revenue Code and regulations and rulings
     issued pursuant thereto, that applies to the Participant based upon his
     year of birth. Any changes in the amount of "covered compensation" that
     become effective after the January 1st

                                       3

<PAGE>

     immediately preceding the date of the Participant's retirement or
     termination of service shall be ignored.

1.14 NORMAL RETIREMENT DATE: A Participant's 65th birthday.
     ----------------------

1.15 PARTICIPANT: Participant shall mean the employees and former employees
     -----------
     identified on the attached Exhibit I.

1.16 SPOUSE: The Participant's lawful Spouse.
     ------

1.17 TERMINATION DATE: The effective date of the termination of the
     ----------------
     Participant's employment; provided, however, that for purposes of this
     Section, the Participant's temporary absence from the service of the
     Corporation with the Corporation's written approval shall not result in the
     termination of his employment unless he fails to return to the service of
     the Corporation on or before the date specified by the Corporation in such
     written approval, in which event such date shall be his Termination Date.

1.18 VESTING SERVICE. Vesting Service shall have the same definition as in the
     ---------------
     Basic Plan.

                            ARTICLE 2 - PARTICIPATION
                            -------------------------

Each employee named on Exhibit I shall participate in the Plan and shall cease
to participate upon his Termination Date if there is no benefit payable from the
Plan, or if there are benefits payable, upon the complete payment of all
benefits due to the Participant. In the event that any such Participant shall
cease to be a member of a select group of highly compensated and managerial
employees within the meaning of Section 201(2) of the Employee Retirement Income
Security Act of 1974, as amended, such Participant shall, notwithstanding
anything to the contrary contained in the Plan, cease to accrue any additional
benefits under the Plan, but shall continue to be a Participant in the Plan for
all other purposes.

                     ARTICLE 3 - NORMAL RETIREMENT BENEFITS
                     --------------------------------------

3.l  ELIGIBILITY: A Participant whose employment terminates on or after his
     -----------
     Normal Retirement Age for any reason other than his death shall receive a
     Benefit pursuant to this Article.

                                       4

<PAGE>

3.2  AMOUNT OF GROUP I PARTICIPANT `S NORMAL RETIREMENT BENEFIT:
     ----------------------------------------------------------

     (A)  A Group I-A's Participant's Benefit pursuant to this Article shall be
          payable on the first day of the month following the Participant's
          Termination Date and, when expressed in the form of a Ten Year Certain
          and Life Annuity, shall be equal to the amount by which (1) exceeds
          (2), where

          (1)  is the equal to (i) minus (ii) plus (iii) below:

               (i)   1.85% of his Final Average Monthly Compensation multiplied
                     by his number of years of Credited Service after August 1,
                     2000 that are not in excess of 35 years.

               (ii)  0.5% of his IRS Maximum Monthly Covered Compensation
                     multiplied by his number of years of Credited Service after
                     August 1, 2000 that are not in excess of 35 years.

               (iii) 1.35% of his Final Average Monthly Compensation multiplied
                     by his number of years of Credited Service after August 1,
                     2000 that are in excess of 35 years.

          (2)  is the increase since August 1, 2000 in the monthly retirement
               benefit, expressed in the form of a Ten Year Certain and Life
               Annuity, which he would be entitled to receive from the Basic
               Plan as of his Termination Date.

     (B)  A Group I-B Participant's Benefit payable pursuant to this Article
          shall be payable on the first day of the month following the
          Participant's Termination Date and, when expressed in the form of a
          Ten Year Certain and Life Annuity, shall be equal to the amount by
          which (1) exceeds (2), where

          (1)  is the equal to (i) minus (ii) plus (iii) below:

               (i)   1.85% of his Final Average Monthly Compensation multiplied
                     by his number of years of Credited Service that are not in
                     excess of 35 years.

               (ii)  0.5% of his IRS Maximum Monthly Covered Compensation
                     multiplied by his number of years of Credited that are not
                     in excess of 35 years.

               (iii) 1.35% of his Final Average Monthly Compensation multiplied
                     by his number of years of Credited Service that are in
                     excess of 35 years.

                                       5

<PAGE>

               Provided however, in the event that a Group I-B Participant was a
               participant in the NBC Plan as of February 28, 1994, in no event
               shall the benefit payable from this plan to such Participant be
               less than the amount computed under the provisions of Section 3.2
               of the NBC Plan in effect on February 28, 1994 assuming the
               Participant's rate of pay as of January 1, 1994 (including any
               bonuses received in 1994) continued unchanged to his Termination
               Date, but based only on Credited Service through December 31,
               2001.

          (2)  is the monthly retirement benefit, expressed in the form of a Ten
               Year Certain and Life Annuity, which he would be entitled to
               receive from the Basic Plan as of his Termination Date.

     (C)  A Group I-C Participant's Benefit pursuant to this Article shall be
          payable on the first day of the month following the Participant's
          Termination Date and, when expressed in the form of a Ten Year Certain
          and Life Annuity, shall be equal to the amount by which (1) plus (2)
          exceeds (3), where

          (1)  is the equal to (i) minus (ii) plus (iii) below:

               (i)   1.85% of his Final Average Monthly Compensation multiplied
                     by his number of years of Credited Service after December
                     31, 2000 that are not in excess of 35 years.

               (ii)  0.5% of his IRS Maximum Monthly Covered Compensation
                     multiplied by his number of years of Credited Service after
                     December 31, 2000 that are not in excess of 35 years.

               (iii) 1.35% of his Final Average Monthly Compensation multiplied
                     by his number of years of Credited Service after December
                     31, 2000 that are in excess of 35 years.

          (2)  is equal to the benefit the Participant accrued under the CCB
               Plan as of December 31, 2000, expressed in the form of a Ten Year
               Certain and Life Annuity, based on the Participant's Credited
               Service through December 31, 2000 and final average compensation
               (as calculated under the provisions of the CCB Plan as they
               existed on July 31, 2001) determined as of the Participant's
               Termination Date.

          (3)  is the monthly retirement benefit, expressed in the form of a Ten
               Year Certain and Life Annuity, which he would be entitled to
               receive from the Basic Plan as of his Termination Date.

3.3  AMOUNT OF GROUP II PARTICIPANT'S BENEFIT: A Group II Participant's Benefit
     ----------------------------------------
     pursuant to this Article shall be payable on the first day of the month
     following the

                                       6

<PAGE>

     Participant's Termination Date and, when expressed in the form of a Ten
     Year Certain and Life Annuity, shall be equal to the amount by which the
     sum of (A) plus (B) plus (C) exceeds (D), where

     (A)  is 1.35% of his Final Average Monthly Compensation determined and
          frozen as of December 31, 2001 and not in excess of the limitation of
          Code Section 401(a)(17) in effect as of such date, multiplied by his
          number of years of Credited Service completed by the Participant prior
          to January 1, 2002.

     (B)  is .50% of his Final Average Monthly Compensation determined and
          frozen as of December 31, 2001 and not in excess of the limitation of
          Code Section 401(a)(17) in effect as of such date, in excess of the
          Participant's IRS Maximum Monthly Covered Compensation determined as
          of December 31, 2001,

     (C)  is the actuarial equivalent (based on the actuarial equivalence
          factors contained in the Basic Plan) expressed in the form of a Ten
          Year Certain and Life Annuity, of the product of (1) and (2), where

          (1)  is the cumulative sum of the Participant's Benefit Percentages
               (determined using the table below) based on the number of years
               and months of Credited Service completed by the Participant after
               December 31, 2001; provided, however, that years and months of
               Credited Service completed prior to January 1, 2002, will be
               taken into account solely for the purpose of determining the
               Benefit Percentage attributable to each year and month of
               Credited Service performed after December 31, 2001, but no
               Benefit Percentage shall be assigned to any year of Credited
               Service performed prior to January 1, 2002.

               Years of Credited Service          Benefit Percentages
               -------------------------          -------------------

                      1 to 5                          2% Per Year
                      6 to 10                         4% Per Year
                      11 to 20                        6% Per Year
                      21 to 30                        8% Per Year
                      31 or more                     10% Per Year

               The percentage is prorated for partial years by crediting 1/12th
               for each completed month of Credited Service.

          (2)  is the Participant's Final Average Compensation as of the
               Participant's Termination Date.

     (D)  is the monthly benefit which he would be entitled to receive from the
          Basic Plan, expressed in the form of a Ten Year Certain and Life
          Annuity, as of his Termination Date.

                                       7

<PAGE>

3.4  AMOUNT OF GROUP III PARTICIPANT'S BENEFIT:
     -----------------------------------------

     (A)  Grandfathered Group III Participants. The Benefit payable pursuant to
          ------------------------------------
          this Article for a Group III Participant who as of December 31, 2001
          had attained age 55 with 5 years of Vesting Service or had attained
          age 50 with 10 years of Vesting Service shall be payable on the first
          day of the month following the Participant's Termination Date and,
          when expressed in the form of a Ten Year Certain and Life Annuity,
          shall be equal to the amount by which the greater of (1) or (2)
          exceeds (3), where

          (1)  is equal to the benefit the Participant would have accrued under
               the CCB Plan, expressed in the form of a Ten Year Certain and
               Life Annuity, if that plan had continued in effect under the
               terms of such plan in effect as of July 31, 2001, based on the
               Participant's service and final average compensation determined
               as of the Participant's Termination Date.

          (2)  is the actuarial equivalent (based on the actuarial equivalence
               factors contained in the Basic Plan) expressed in the form of a
               Ten Year Certain and Life Annuity, of the product of (i) and
               (ii), where

               (i)   is the cumulative sum of the Participant's Benefit
                     Percentages (determined using the table below) based on the
                     number of years and months of Credited Service completed by
                     the Participant.

                     Years of Credited Service          Benefit Percentages
                     -------------------------          -------------------

                             1 to 5                         2% Per Year
                             6 to 10                        4% Per Year
                             11 to 20                       6% Per Year
                             21 to 30                       8% Per Year
                             31 or more                    10% Per Year

                     The percentage is prorated for partial years by crediting
                     1/12th for each completed month of Credited Service.

               (ii)  is the Participant's Final Average Compensation as of the
                     Participant's Termination Date.

          (3)  is the monthly benefit, expressed in the form of a Ten Year
               Certain and Life Annuity, which he would be entitled to receive
               from the Basic Plan as of his Termination Date.

     (B)  Other Group III Participants. The Benefit payable pursuant to this
          ----------------------------
          Article for a Group III Participant who is not described in Subsection
          3.4(A) shall be payable

                                       8

<PAGE>

          on the first day of the month following the Participant's Termination
          Date and, when expressed in the form of a Ten Year Certain and Life
          Annuity, shall be equal to the amount by which (1) exceeds (2), where

          (1)  the benefit described in Section 1.1(A)(37)(c) of the Basic Plan
               determined by using Final Average Compensation as defined in this
               Plan (provided, however, that for purposes of Section
               1.1(a)(37)(c)(ii)(I) of the Basic Plan, Final Average
               Compensation shall be determined as of December 31, 2001).

          (2)  is the monthly benefit, expressed in the form of a Ten Year
               Certain and Life Annuity, which he would be entitled to receive
               from the Basic Plan as of his Termination Date.

3.5  AMOUNT OF GROUP IV PARTICIPANT'S BENEFIT. The Benefit payable pursuant to
     ----------------------------------------
     this Article for a Group IV Participant shall be payable on the first day
     of the month following the Participant's Termination Date and, when
     expressed in the form of a Ten Year Certain and Life Annuity, shall be the
     amount by which (A) exceeds (B), where

     (A)  is equal to the monthly benefit determined under the provisions of the
          CCB Financial Corporation Retirement Plan as they existed July 31,
          2001, expressed in the form of a Ten Year Certain and Life Annuity,
          assuming such provisions remain in effect until the Participant's
          retirement date, determined without regard to the Code Section
          401(a)(17) limit.

     (B)  is the monthly benefit, expressed in the form of a Ten Year Certain
          and Life Annuity, which he would be entitled to receive from the Basic
          Plan as of his Termination Date.

3.6  AMOUNT OF GROUP V PARTICIPANT'S BENEFIT. The Benefit payable pursuant to
     ---------------------------------------
     this Article for a Group V Participant shall be payable on the first day of
     the month following the Participant's Termination Date and, when expressed
     in the form of a Ten Year Certain and Life Annuity, shall be the amount by
     which (A) exceeds (B), where

     (A)  is the retirement benefit the Participant's would have accrued under
          the Basic Plan, expressed in the form of a Ten Year Certain and Life
          Annuity, had the Participant received 5 years of additional Credited
          Service under the Basic Plan.

     (B)  is the monthly benefit, expressed in the form of a Ten Year Certain
          and Life Annuity, which he would be entitled to receive from the Basic
          Plan as of his Termination Date.

                                       9

<PAGE>

                      ARTICLE 4 - EARLY RETIREMENT BENEFITS
                      -------------------------------------

4.1  ELIGIBILITY. A Participant whose employment terminates on or after his
     -----------
     Early Retirement Date and prior to his Normal Retirement Age for any reason
     other than his death shall receive a Benefit pursuant to this Article.

4.2  AMOUNT OF GROUP I PARTICIPANT'S BENEFIT:
     ---------------------------------------

     (A)  A Group I-A's Participant's Benefit pursuant to this Article shall be
          payable on the first day of the month following the Participant's
          Termination Date and, when expressed in the form of a Ten Year Certain
          and Life Annuity, shall be the amount by which (1) exceeds (2), with
          the result being multiplied by the factors specified in Section 1 of
          Appendix A, where

          (1)  is the equal to (i) minus (ii) plus (iii) below:

               (i)   1.85% of his Final Average Monthly Compensation multiplied
                     by his number of years of Credited Service after August 1,
                     2000 that are not in excess of 35 years.

               (ii)  0.5% of his IRS Maximum Monthly Covered Compensation
                     multiplied by his number of years of Credited Service after
                     August 1, 2000 that are not in excess of 35 years.

               (iii) 1.35% of his Final Average Monthly Compensation multiplied
                     by his number of years of Credited Service after August 1,
                     2000 that are in excess of 35 years.

          (2)  is the increase since August 1, 2000 in the monthly normal
               retirement benefit, expressed in the form of a Ten Year Certain
               and Life Annuity, which he would be entitled to receive from the
               Basic Plan as his Termination Date.

     (B)  A Group I-B Participant's Benefit payable pursuant to this Article
          shall be payable on the first day of the month following the
          Participant's Termination Date and, when expressed in the form of a
          Ten Year Certain and Life Annuity, shall be the amount by which (1)
          exceeds (2), where

          (1)  is the equal to (i) minus (ii) plus (iii) below:

               (i)   1.85% of his Final Average Monthly Compensation multiplied
                     by his number of years of Credited Service that are not in
                     excess of 35 years, multiplied by the factors specified in
                     Section 1 of Appendix A hereto to reflect early
                     commencement.

                                       10

<PAGE>

               (ii)  0.5% of his IRS Maximum Monthly Covered Compensation
                     multiplied by his number of years of Credited that are not
                     in excess of 35 years, multiplied by the factors specified
                     in Section 2 of Appendix A hereto to reflect early
                     commencement.

               (iii) 1.35% of his Final Average Monthly Compensation multiplied
                     by his number of years of Credited Service that are in
                     excess of 35 years, multiplied by the factors specified in
                     Section 1 of Appendix A hereto to reflect early
                     commencement.

               Provided however, in the event that a Group I-B Participant was a
               participant in the NBC Plan as of February 28, 1994, in no event
               shall the benefit payable from this plan to such Participant be
               less than the amount computed under the provisions of Section 3.2
               of the NBC Plan in effect on February 28, 1994 assuming the
               Participant's rate of pay as of January 1, 1994 (including any
               bonuses received in 1994) continued unchanged to his Termination,
               but based only on Credited Service through December 31, 2001.

          (2)  is the immediate monthly retirement benefit, expressed in the
               form of a Ten Year Certain and Life Annuity, which he would be
               entitled to receive from the Basic Plan as of his Termination
               Date.

     (C)  A Group I-C Participant's Benefit payable pursuant to this Article
          shall be payable on the first day of the month following the
          Participant's Termination Date and, when expressed in the form of a
          Ten Year Certain and Life Annuity, shall be the amount by which (1)
          plus (2) exceeds (3), where

          (1)  is the equal to (i) minus (ii) plus (iii) below:

               (i)   1.85% of his Final Average Monthly Compensation multiplied
                     by his number of years of Credited Service after December
                     31, 2000 that are not in excess of 35 years, multiplied by
                     the factors specified in Section 1 of Appendix A hereto to
                     reflect early commencement.

               (ii)  0.5% of his IRS Maximum Monthly Covered Compensation
                     multiplied by his number of years of Credited Service after
                     December 31, 2000 that are not in excess of 35 years,
                     multiplied by the factors specified in Section 2 of
                     Appendix A hereto to reflect early commencement.

               (iii) 1.35% of his Final Average Monthly Compensation multiplied
                     by his number of years of Credited Service after December
                     31, 2000

                                       11

<PAGE>

                     that are in excess of 35 years, multiplied by the factors
                     specified in Section 1 of Appendix A hereto to reflect
                     early commencement.

          (2)  is equal to the benefit the Participant accrued under the CCB
               Plan as of December 31, 2000, expressed in the form of a Ten Year
               Certain and Life Annuity, based on the Participant's Credited
               Service through December 31, 2000 and final average compensation
               (as calculated under the provisions of the CCB Plan as they
               existed on July 31, 2001) determined as of the Participant's
               termination of employment or retirement with the Corporation,
               multiplied by the early retirement factors of the CCB Plan in
               effect as of July 31, 2001 to reflect early commencement.

          (3)  is the immediate monthly retirement benefit, expressed in the
               form of a Ten Year Certain and Life Annuity, which he would be
               entitled to receive as of the date of his retirement from the
               Basic Plan as of his Termination Date.

4.3  AMOUNT OF GROUP II PARTICIPANT'S BENEFIT: A Group II Participant's Benefit
     ----------------------------------------
     pursuant to this Article shall be payable on the first day of the month
     following the Participant's Termination Date and, when expressed in the
     form of a Ten Year Certain and Life Annuity, shall be the amount by which
     the sum of (A) plus (B) plus (C) exceeds (D), where

     (A)  is 1.35% of his Final Average Monthly Compensation determined and
          frozen as of December 31, 2001 and not in excess of the limitation of
          Code Section 401(a)(17) in effect as of such date, multiplied by his
          number of years of Credited Service completed by the Participant prior
          to January 1, 2002, multiplied by the factors specified in Section 1
          of Appendix A hereof to reflect early commencement.

     (B)  is .50% of his Final Average Monthly Compensation determined and
          frozen as of December 31, 2001 and not in excess of the limitation of
          Code Section 401(a)(17) in effect as of such date, in excess of the
          Participant's IRS Maximum Monthly Covered Compensation determined as
          of December 31, 2001, multiplied by the factors specified in Section 2
          of Appendix A hereof to reflect early commencement.

     (C)  is the actuarial present value (determined using the actuarial
          equivalent factors utilized by the Basic Plan as of the date of
          determination), expressed in the form of a Ten Year Certain and Life
          Annuity, of the product of (1) and (2) (which amount is otherwise
          payable on the first day of the month following the date the
          Participant would attain Normal Retirement Age), where

          (1)  is the cumulative sum of the Participant's Benefit Percentages
               (determined using the table below) based on the number of years
               and months of Credited Service completed by the Participant after
               December 31, 2001;

                                       12

<PAGE>

               provided, however, that years and months of Credited Service
               completed prior to January 1, 2002, will be taken into account
               solely for the purpose of determining the Benefit Percentage
               attributable to each year and month of Credited Service performed
               after December 31, 2001, but no Benefit Percentage shall be
               assigned to any year of Credited Service performed prior to
               January 1, 2002.

               Years of Credited Service          Benefit Percentages
               -------------------------          -------------------

                       1 to 5                         2% Per Year
                       6 to 10                        4% Per Year
                       11 to 20                       6% Per Year
                       21 to 30                       8% Per Year
                       31 or more                    10% Per Year

               The percentage is prorated for partial years by crediting 1/12th
               for each completed month of Credited Service.

          (2)  is the Participant's Final Average Compensation as of the date of
               the Participant's termination of employment.

     (D)  is the immediate monthly benefit, expressed in the form of a Ten Year
          Certain and Life Annuity, which he would be entitled to receive from
          the Basic Plan as of his Termination Date.

4.4  AMOUNT OF GROUP III PARTICIPANT'S BENEFIT:
     -----------------------------------------

     (A)  Grandfathered Group III Participants. The Benefit payable pursuant to
          ------------------------------------
          this Article for a Group III Participants who as of December 31, 2001
          had attained age 55 with 5 years of Vesting Service or had attained
          age 50 with 10 years of Vesting Service shall be payable on the first
          day of the month following the Participant's Termination Date and,
          when expressed in the form of a Ten Year Certain and Life Annuity,
          shall be the amount by which the greater of (1) or (2) exceeds (3),
          where

          (1)  is equal to the benefit the Participant would have accrued under
               the CCB Plan if that plan had continued in effect under the terms
               of such plan in effect as of July 31, 2001, based on the
               Participant's service and final average compensation determined
               as of the Participant's termination of employment or retirement
               with the Corporation, multiplied by the early retirement factors
               of the CCB Plan in effect as of July 31, 2001 to reflect early
               commencement.

          (2)  is the actuarial present value (determined using the actuarial
               equivalent factors utilized by the Basic Plan as of the date of
               determination), expressed in the form of a Ten Year and Certain
               Annuity, of the product of

                                       13

<PAGE>

               (i) and (ii) (which amount is otherwise payable on the first day
               of the month following the date the Participant would attain
               Normal Retirement Age), where

               (i)   is the cumulative sum of the Participant's Benefit
                     Percentages (determined using the table below) based on the
                     number of years and months of Credited Service completed by
                     the Participant.

                     Years of Credited Service          Benefit Percentages
                     -------------------------          -------------------

                             1 to 5                         2% Per Year
                             6 to 10                        4% Per Year
                             11 to 20                       6% Per Year
                             21 to 30                       8% Per Year
                             31 or more                    10% Per Year

                     The percentage is prorated for partial years by crediting
                     1/12th for each completed month of Credited Service.

               (ii)  is the Participant's Final Average Compensation as of the
                     date of the Participant's Termination Date.

          (3)  is the immediate monthly benefit, expressed in the form of a Ten
               Year Certain and Life Annuity, which he would be entitled to from
               the Basic Plan as of his Termination Date.

     (B)  Other Group III Participants. The Benefit payable pursuant to this
          ----------------------------
          Article for a Group III Participant who is not described in Subsection
          4.4(A) and who terminates for reasons other than death shall be
          payable on the first day of the month following the Participant's
          Termination Date and, when expressed in the form of a Ten Year Certain
          and Life Annuity, shall be equal to the amount by which (1) exceeds
          (2), where

          (1)  the benefit described in Section 1.1(A)(37)(c) of the Basic Plan
               determined by using Final Average Compensation as defined in this
               Plan (provided, however, that for purposes of Section
               1.1(A)(37)(c)(ii)(I) of the Basic Plan, Final Average
               Compensation shall be determined as of December 31, 2001);

          (2)  is the immediately monthly benefit, expressed in the form of a
               Ten Year Certain and Life Annuity, which he would be entitled to
               receive from the Basic Plan as of his Termination Date.

4.5  AMOUNT OF GROUP IV PARTICIPANT'S BENEFIT. The Benefit payable pursuant to
     ----------------------------------------
     this Article for a Group IV Participant shall be payable on the first day
     of the month

                                       14

<PAGE>

     following the Participant's Termination Date and, when expressed in the
     form of a Ten Year Certain and Life Annuity, shall be the amount by which
     (A) exceeds (B), where

     (A)  is equal to the monthly benefit, expressed in the form of a Ten Year
          Certain and Life Annuity, determined under the provisions of the CCB
          Financial Corporation Retirement Plan as they existed July 31, 2001
          assuming such provisions remain in effect until the Participant's
          retirement date (including any early reduction factors), determined
          without regard to the Code Section 401(a)(17) limit.

     (B)  is theimmeidate monthly benefit, expressed in the form of a Ten Year
          Certain and Life Annuity, which he would be entitled to receive from
          the Basic Plan as of his Termination Date.

4.6  AMOUNT OF GROUP V PARTICIPANT'S BENEFIT. The Benefit payable pursuant to
     ---------------------------------------
     this Article for a Group V Participant shall be payable on the first day of
     the month following the Participant's Termination Date and, when expressed
     in the form of a Ten Year Certain and Life Annuity, shall be the amount by
     which (A) exceeds (B), where

     (A)  is the immediate retirement benefit, expressed in the form of a Ten
          Year Certain and Life Annuity, as of the date of the Participant's
          retirement that the Participant would have been entitled to receive
          under the Basic Plan had the Participant received 5 years of
          additional Credited Service under the Basic Plan.

     (B)  is the immediate monthly benefit, expressed in the form of a Ten Year
          Certain and Life Annuity, which he would be entitled to receive from
          the Basic Plan as of his Termination Date.

                           ARTICLE 5 - VESTED BENEFITS
                           ---------------------------

5.1  ELIGIBILITY: A Participant whose employment terminates prior to his Early
     -----------
     Retirement Date or Normal Retirement Date for any reason other than his
     death and who has been credited with at least five (5) years of Vesting
     Service shall receive a Retirement Benefit pursuant to this Article.
     Notwithstanding the foregoing, upon a Change of Control, any Participant
     who is employed by the Corporation on such date shall be fully vested in
     his Benefit and shall be entitled to a Benefit pursuant to this Article if
     the Participant terminates employment on or before his Early Retirement
     Date or Normal Retirement Date.

5.2  AMOUNT.
     ------

     (a)  The Benefit of a Participant (other than a Group IV Participant)
          payable pursuant to this Article shall be payable on the first day of
          the month following the Participant's Termination Date and, when
          expressed in the form of a Ten Year Certain and Life Annuity, shall
          equal the actuarial equivalent (determined using

                                       15

<PAGE>

          the actuarial equivalence factors in effect under the Basic Plan as of
          the Participant's Termination Date) of the Benefit determined under
          the applicable Section of Article 3 hereof (assuming for this purpose
          that such benefit is payable commencing on the Participant's Normal
          Retirement Date), based on the class of Participant in which the
          Participant is a member.

     (b)  The Benefit of a Group IV Participant payable pursuant to this Article
          shall be payable on the first day of the month following the later of
          the date the Participant attains age 55 or the Participant's
          Termination Date and, when expressed in the form of a Ten Year Certain
          and Life Annuity, shall equal the actuarial equivalent (determined
          using the actuarial equivalence factors in effect under the Basic Plan
          as of the Participant's Termination Date) of the Benefit determined
          under Section 3.5 hereof (assuming for this purpose that such benefit
          is payable commencing on the Participant's Normal Retirement Date).

                    ARTICLE 6 - PRE-RETIREMENT DEATH BENEFIT
                    ----------------------------------------

6.1  ELIGIBILITY: The Beneficiary of a Participant whose employment is
     -----------
     terminated by reason of his death shall receive a death benefit pursuant to
     this Article.

6.2  AMOUNT:
     ------

     (a)  PRIOR TO EARLY RETIREMENT DATE.
          ------------------------------

          (1)  The death benefit payable pursuant to this Article to the
               Beneficiary of a Participant (other than a Group IV Participant)
               who dies while an employee of the Corporation or one of its
               subsidiaries on and prior to his Early Retirement Date, shall
               equal the actuarial equivalent amount as of the date of the
               Participant's death (determined using the actuarial equivalent
               factors in effect under the Basic Plan as of the Participant's
               Termination Date) of the benefit determined under Plan Section
               5.2. The benefit shall be payable to the Beneficiary as of the
               first day of the month following receipt by the Corporation of
               notice of the Participant's death.

          (2)  The death benefit payable pursuant to this Article to the
               Beneficiary of a Group IV Participant who dies while an employee
               of the Corporation or one of its subsidiaries on and prior to his
               Early Retirement Date, shall equal the amount that would be
               payable to such Beneficiary if the Participant had as of the date
               of this death terminated employment with a vested benefit under
               Plan Section 5.2, survived to age 55, elected pursuant to Plan
               Section 7.1 to receive his Benefit in the form of a Joint and 50%
               Survivor Annuity with his Beneficiary and died immediately
               thereafter. The benefit payable to the Beneficary of a Group IV
               Paricipant shall be payable as of the first day of the month
               following the later of receipt by the

                                       16

<PAGE>

               Corporation of notice of the Participant's death or the date the
               Participant would have attained age 55.

     (b)  ON OR AFTER EARLY RETIREMENT DATE AND PRIOR TO NORMAL RETIREMENT
          ----------------------------------------------------------------
          DATE.The death benefit payable pursuant to this Article to the
          ----
          Beneficiary of a Participant who dies while an employee of the
          Corporation or one of its subsidiaries on or after his Early
          Retirement Date and prior to his Normal Retirement Date, shall equal
          the benefit determined under the applicable Section of Article 4 based
          on the class of Participant in which the Participant was a member.

     (c)  ON OR AFTER NORMAL RETIREMENT DATE.The death benefit payable pursuant
          ----------------------------------
          to this Article to the Beneficiary of a Participant who dies while an
          employee of the Corporation or one of its subsidiaries on or after his
          Normal Retirement Date, shall equal the benefit determined under the
          applicable Section of Article 3 based on the class of Participant in
          which the Participant was a member.

6.3  PAYMENT OF DEATH BENEFITS: The Beneficiary shall receive the death benefit
     -------------------------
     in the form of a Ten Years Certain and Life Annuity, or if elected, another
     form of payment as provided in the Basic Plan and elected by the
     Participant. However, if the actuarial present value of the Beneficiary's
     benefit is less than $5,000, the benefit shall be payable in a lump sum.

                   ARTICLE 7 - PAYMENT OF RETIREMENT BENEFITS
                   ------------------------------------------

7.1  FORM OF PAYMENT: The Benefit from the Plan shall be payable in the form of
     ---------------
     a Ten Years Certain and Life Annuity if the Participant does not have a
     Spouse, and in the form of an actuarially equivalent Joint and 50% Survivor
     Annuity if the Participant has a Spouse. If the Participant elects at least
     twelve months in advance of the Participant's Termination Date by delivery
     to the Corporation of an election form in such manner as the Corporation
     from time to time specifies, the Benefit may be payable in any actuarial
     equivalent optional form of benefit available under the Basic Plan based on
     the factors for determining actuarial equivalence in effect on the
     Participant's Termination Date under the Basic Plan. Any such election may
     be revoked or modified by delivery of a new election form to the Committee,
     but such revocation or modification shall not be effective until twelve
     months following receipt by the Corporation.

7.2  EFFECT OF CHANGE OF CONTROL: Notwithstanding Section 7.1, in the event of a
     ---------------------------
     Change in Control, the Participant's Benefit may be paid in a lump-sum
     distribution if so elected on the Participant Election Form. This special
     lump-sum option available in the event of a Change of Control is applicable
     to both inactive Participants (whether or not in

                                       17

<PAGE>

     pay status) at the time of the Change of Control and to active Participants
     (whether or not in pay status) upon termination of employment following a
     Change in Control.

7.3  CASH OUT OF SMALL BENEFITS: If the actuarial present value (determined
     --------------------------
     using the actuarial factors then in effect under the Basic Plan) of the
     Participant's Benefit is less than $5,000, the Benefit shall be payable in
     a lump sum.

                      ARTICLE 8 - AMENDMENT AND TERMINATION
                      -------------------------------------

8.1  AMENDMENT: The Corporation may amend any or all of the provisions of this
     ---------
     Plan at any time without the consent of any Participant or Beneficiary;
     provided, however, that no such amendment shall deprive any Participant or
     Beneficiary of any Benefit which had accrued prior to the effective date of
     such amendment.

8.2  TERMINATION: The Corporation may terminate the Plan at any time and shall
     -----------
     cease paying Benefits hereunder immediately upon the effective date of such
     termination. Within 90 days following such effective date, the Corporation
     shall pay:

     (a)  to each Participant or Beneficiary to whom payment of a Benefit has
          commenced as of such effective date an amount equal to the present
          value of the installments of such Benefit coming due on or after such
          date; and

     (b)  to each other Participant an amount equal to the present value of any
          Benefit to which he would be entitled had he voluntarily, terminated
          his employment on such effective date.

In determining the amount to be paid to a Participant or Beneficiary pursuant to
this Section, the Corporation shall use the discount rate and mortality tables
as specified by the definition of actuarial equivalence in the Basic Plan.

                           ARTICLE 9 - ADMINISTRATION
                           --------------------------

9.1  ADMINISTRATION: The Committee shall administer the Plan and shall have all
     --------------
     powers necessary or appropriate to enable it to carry out its duties
     including, without limitation, the power to interpret the Plan and to make,
     establish and change rules and procedures with respect to the operation of
     the Plan. The Committee shall have the authority to decide all questions
     arising under the Plan including those involving an individual's
     eligibility for Benefits and to determine the amount of any Benefit to be
     paid to any Participant or Beneficiary hereunder. All such decisions shall
     be conclusive and binding on all persons.

9.2  REQUIRED INFORMATION: Each Participant and Beneficiary shall furnish the
     --------------------
     Committee such information as it shall consider necessary or desirable for
     purposes of

                                       18

<PAGE>

     administering the Plan. The provisions of the Plan respecting the payment
     of any Benefit are conditional upon the Committee's prompt receipt of such
     information. The Corporation, the Committee and any other party involved in
     the administration of the Plan shall be entitled to rely upon any
     information furnished by a Participant or Beneficiary with respect to any
     matters required to be determined hereunder and shall not be liable on
     account of the payment of any monies or the doing of any act or failure to
     act in reliance thereon.

9.3  CLAIMS: Any person having a claim for the payment of a Benefit shall file
     ------
     such claim with the Committee in writing on a form furnished by the
     Committee.

     (a)  Denial of Claims: In the event any such claim is denied or not paid
          ----------------
          within 60 days after the date of the filing thereof, the Committee
          shall notify the claimant in writing of the specific reasons for the
          denial or nonpayment, the specific provisions of this Plan upon which
          such denial or nonpayment is based and the appeal procedures set forth
          below.

     (b)  Appeal Procedures: The Committee shall review appeals of claims which
          -----------------
          have been denied or have not been paid. Any claimant whose claim has
          been denied or has not been paid within said 60 day period may file a
          written appeal of such denial or nonpayment with the Committee within
          90 days after the expiration of said 60 day period together with such
          information concerning such claim as the claimant desires the
          Committee to consider in its review of such denial or nonpayment. Not
          later than 60 days after its receipt of any such appeal, the Committee
          shall notify the claimant in writing of its decision on such appeal
          setting forth the specific reasons for its decision and the provisions
          of the Plan upon which its decision is based.

9.4  DISPUTES: If a dispute arises as to the proper recipient of any payment,
     --------
     the Committee, in its sole discretion, may withhold or cause such payment
     to be withheld until the dispute shall have been settled or determined by a
     court of competent jurisdiction.

                           ARTICLE 10 - MISCELLANEOUS
                           --------------------------

10.1 OWNERSHIP OF ASSETS: Any assets which may be used to discharge the
     -------------------
     Corporation's obligations under this Plan shall be and remain the property
     of the Corporation, no person other than the Corporation shall, by virtue
     of this Plan, have any interest in such assets and no Participant or
     Beneficiary shall have any right, title or interest in, or claim to, any
     investment the Corporation may make to aid the Corporation in meeting its
     obligations hereunder. To the extent that any person acquires a right to
     receive payments from the Corporation under this Plan, such right shall be
     no greater than the right of any unsecured general creditor of the
     Corporation.

                                       19

<PAGE>

10.2 NO ASSIGNMENT: No Benefit payable hereunder shall be subject in any manner
     -------------
     to anticipation, alienation, sale, transfer, assignment, pledge or
     encumbrance and any attempt to anticipate, alienate, sell, transfer,
     assign, pledge or encumber or charge the same shall be void. No such
     Benefit shall in any manner be subject to the debts or liabilities of any
     Participant or Beneficiary nor shall it be subject to attachment or legal
     process for or against such person and the same shall not be recognized
     hereunder except to such extent as may be required by law.

10.3 EFFECT ON EMPLOYMENT: Nothing contained herein shall give any Participant
     --------------------
     the right to be retained in the service of the Corporation or to interfere
     with the right of the Corporation to discharge any Participant at any time
     regardless of the effect which such discharge shall or may have upon such
     individual as a Participant.

10.4 PAYMENTS TO MINOR OR INCOMPETENT: In making any payment to or for the
     --------------------------------
     benefit of any minor or incompetent person or any other person who, in the
     opinion of the Committee, is otherwise unable to apply such distribution to
     his own best interest and advantage, the Committee, in its sole discretion
     may direct that such distribution be made directly to such person, to the
     legal guardian, conservator or custodian of such person for the use and
     benefit of such person or to a relative of such person to be expended by
     such relative for the benefit of such person. The Committee shall not be
     obligated to see the application of any such payment.

10.5 INDEMNIFICATION: The Corporation agrees to hold harmless and indemnify the
     ---------------
     members of the Committee and all directors, officers and employees of the
     Corporation against any and all parties whomsoever, and all losses
     therefrom, including without limitation, costs of defense and attorneys'
     fees, based upon or arising out of any act or omission relating to, or in
     connection with, this Plan other than losses resulting from such person's
     fraud or willful misconduct.

10.6 BINDING ON EMPLOYER, PARTICIPANTS AND THEIR SUCCESSORS: This Plan shall be
     ------------------------------------------------------
     binding upon and inure to the benefit of the Corporation and to any other
     Employers participating in this Plan, their successors and assigns and the
     participant and his heirs, executors, Committees and duly appointed legal
     representatives.

10.7 RIGHTS OF AFFILIATES TO PARTICIPATE: Any Employer participating in the
     -----------------------------------
     Basic Plan may, in the future, adopt this Plan provided that proper action
     is taken by the Board of Directors of such Employer and the participation
     of such Employer is approved by the Board of Directors of the Corporation.
     The administrative powers and control of the Corporation, as provided in
     this Plan, shall not be deemed diminished under this Plan by reason of the
     participation of any other Employer and the administrative pointers and
     control granted hereunder to the Committee shall be binding upon any
     Employer adopting this Plan. Each Employer adopting this Plan shall have
     the obligation to pay the benefits to its employees hereunder and no other
     Employer shall have such obligation and any failure by a particular
     Employer to live up to its obligations under this Plan shall have no

                                       20

<PAGE>

     effect on any other Employer. Any Employer may discontinue this Plan at any
     time by proper action of its Board of Directors subject to the provisions
     of Article 8.

10.8 APPLICABLE LAW: The provisions of this Plan shall be interpreted and
     --------------
     construed according to the laws of the State of Tennessee.

10.9 EFFECTIVE DATE: This Plan shall be effective August 1, 2001, with respect
     --------------
     to payments made to or on behalf of participants on and after such date.

IN WITNESS WHEREOF, NATIONAL COMMERCE FINANCIAL CORPORATION, TENNESSEE has
caused this instrument to be executed by its duly authorized officers on this
      day of                   , 2001, effective as of August 1, 2001.
-----        ------------------

(CORPORATE SEAL)

ATTEST:                                     NATIONAL COMMERCE FINANCIAL
                                            CORPORATION

                                            By:
-----------------------------------             --------------------------------

                                            Title:
                                                   -----------------------------

                                       21

<PAGE>

                                    EXHIBIT I
                                    ---------

                       -------------------------------------
                       GROUP I-A PARTICIPANTS
                       -------------------------------------
                       Thomas M. Garrott
                       -------------------------------------
                       Mackie H. Gober
                       -------------------------------------
                       Gary Lazarini
                       -------------------------------------
                       David Popwell
                       -------------------------------------
                       William R. Reed, Jr.
                       -------------------------------------

                       -------------------------------------
                       GROUP I-B PARTICIPANTS
                       -------------------------------------
                       Donald B. Clanton
                       -------------------------------------
                       Walter B. Howell, Jr.
                       -------------------------------------

                       -------------------------------------
                       GROUP I-C PARTICIPANTS
                       -------------------------------------
                       James S. Edwards
                       -------------------------------------
                       Sheldon M. Fox
                       -------------------------------------
                       Richard L. Furr
                       -------------------------------------
                       E. C. Roessler
                       -------------------------------------

                       -------------------------------------
                       GROUP II PARTICIPANTS
                       -------------------------------------
                       Walter Bowick, IV
                       -------------------------------------
                       Aubrey Cox
                       -------------------------------------
                       Samuel Ettinghoff
                       -------------------------------------
                       John Fisher
                       -------------------------------------
                       Joseph Gilmore
                       -------------------------------------
                       William Glaus
                       -------------------------------------
                       Charles Grantham
                       -------------------------------------
                       Stephen Horn
                       -------------------------------------
                       W. Jones, Jr.
                       -------------------------------------
                       Dennis Korner
                       -------------------------------------
                       Fletcher Maynard, Jr.
                       -------------------------------------
                       William Menkel
                       -------------------------------------
                       John Presley
                       -------------------------------------
                       Thomas Ramer
                       -------------------------------------
                       Ronald Reddin
                       -------------------------------------
                       Michael Reddoch
                       -------------------------------------
                       John Womble
                       -------------------------------------

     Group III Participants are those persons who were participants in the CCB
     Plan on July 31, 2001 who are not members of Group I Participants or Group
     IV Participants.

                                       22

<PAGE>

     Group IV Participants are persons who were participants in the CCB Plan on
     July 31, 2001, who are not members of Group I Participants and who are
     "Electing CCB Plan Participants" as defined in the Basic Plan.

     Group V Participants are the following employees of First Mercantile Trust
     Company: Kenneth Lenoir, Scott Lenoir and Ronald Hodges.

                                       23

<PAGE>

                                   APPENDIX A
                                   ----------

                                    SECTION 1
                                    ---------

    Non-Integrated Early Retirement Reduction Factors By Years and Months By
                                                                          --
           Which Early Retirement Date Precedes Normal Retirement Date
           -----------------------------------------------------------

<TABLE>
<CAPTION>
                                                          Months
-----------------------------------------------------------------------------------------------------
Years     0       1       2       3       4       5       6       7       8       9      10      11
-----------------------------------------------------------------------------------------------------

 <S>    <C>     <C>     <C>     <C>     <C>     <C>     <C>     <C>     <C>     <C>     <C>     <C>
  0     1.000   1.000   1.000   1.000   1.000   1,000   1,000   1.000   1.000   1.000   1.000   1.000
  1     1.000   1.000   1.000   1.000   1.000   1,000   1,000   1.(00   1.000   1.000   1.000   1.000
  2     1.000   1.000   1.000   1.000   1.000   1,000   1,000   1.000   1.000   1.000   1.000   1.000
  3     1.000   1.000   1.000   1.000   1.000   1,000   1,000   1.000   1.000   1.000   1.000   1.000
  4     1.000   1.000   1.000   1.000   1.000   1,000   1,000   1.000   1.000   1.000   1.000   1.000
  5     1.000    .995    .990    .985    .980    .975    .970    .965    .960    .955    .950    .945
  6      .940    .935    .930    .925    .920    .915    .910    .905    .900    .895    .890    .885
  7      .880    .875    .870    .865    .860    .855    .850    .845    .840    .835    .830    .825
  8      .820    .815    .810    .805    .800    .795    .790    .785    .780    .775    .770    .765
  9      .760    .755    .750    .745    .740    .735    .730    .725    .720    .715    .710    .705
 10      .700
</TABLE>

                                    SECTION 2
                                    ---------

           IRS Defined Actuarial Reduction Factors By Years and Months
         By Which Early Retirement Date Precedes Normal Retirement Date
         --------------------------------------------------------------

<TABLE>
<CAPTION>
                                     Months
------------------------------------------------------------------------------------------
Years     0      1      2      3      4      5      6      7      8      9      10     11
------------------------------------------------------------------------------------------

 <S>    <C>     <C>    <C>    <C>    <C>    <C>    <C>    <C>    <C>    <C>    <C>    <C>
  0     1.000   .994   .989   .983   .978   .972   .967   .961   .956   .950   .944   .939
  1      .933   .928   .922   .917   .911   .906   .900   .894   .889   .883   .879   .872
  2      .867   .861   .856   .850   .844   .839   .833   .828   .822   .817   .811   .806
  3      .800   .794   .789   .783   .778   .772   .767   .761   .756   .750   .744   .739
  4      .733   .728   .722   .717   .711   .706   .700   .694   .689   .683   .678   .672
  5      .667   .664   .661   .658   .656   .653   .650   .647   .644   .642   .639   .636
  6      .633   .631   .628   .625   .622   .619   .617   .614   .611   .608   .606   .603
  7      .600   .597   .594   .592   .589   .586   .583   .581   .578   .575   .572   .569
  8      .567   .564   .561   .558   .556   .553   .550   .547   .544   .542   .539   .536
  9      .533   .531   .528   .525   .522   .519   .517   .514   .511   .508   .506   .503
 10      .500
</TABLE>

                                       24

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