Document:

exv10w3

EXHIBIT 10.3

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

     THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) is made effective October 1,
2009, between APOTHECARY Rx, LLC, an Oklahoma limited liability company (the “Company”), GRAYMARK
HEALTHCARE, INC, an Oklahoma corporation (“GRMH”), and LEWIS P. ZEIDNER, an individual (the
“Executive” and collectively with the Company and GRMH, the “parties” or individually the “party”).
This Agreement amends, supplements and restates in whole the Employment Agreement amongst the
Company, GRMH and Executive made effective January 1, 2008 (the “Original Agreement”).

     WHEREAS, the Company and GRMH desire to retain the services of the Executive and the Executive
desires to make the Executive’s services available to the Company and GRMH, and

     WHEREAS, GRMH is the sole owner of the Company.

     NOW, THEREFORE, in consideration of the mutual promises herein contained, the Company, GRMH
and the Executive agree as follows:

1. Employment. The Company and GRMH hereby employ the Executive as an employee and the
Executive hereby accepts such employment subject to the terms and conditions contained in this
Agreement. Subject to the terms of this Agreement, the employment relationships of the Executive
with the Company and GRMH are “at will” and either can terminate this Agreement with or without
cause as provided in this Agreement.

2. Executive’s Duties. The Executive is employed on a full-time basis. Throughout the
term of this Agreement, the Executive will use the Executive’s best efforts and due diligence to
assist GRMH in the acquisition and operation of pharmacies and sleep centers, and the long term
profitable operation of the Company and GRMH consistent with developing and maintaining quality
business operations.

	 	2.1	 	Specific Duties. The Executive will serve as the President and/or
Chief Executive Officer of the Company and SDC Holdings, LLC (one of GRMH’s
wholly-owned subsidiaries) and Chief Operating Officer of GRMH or such other position
and title as the Company or GRMH and Executive shall mutually determine from time to
time. The Executive will use the Executive’s best efforts to perform all of the
services required to fully and faithfully execute the offices and positions to which
the Executive is appointed and such other services as may be reasonably directed by the
Company or GRMH in accordance with this Agreement. More specifically the Executive
shall have general executive charge, management and control, of the properties,
business and operations of the Company and SDC Holdings, LLC and GRMH with all such
powers as may be reasonably incident to such responsibilities and authority including
matters related to budgeting and cost containment, employment of personnel and
personnel terminations, and general contracting in the normal course of business.

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	 	2.2	 	Rules and Regulations. Each of the Company and GRMH may adopt an
employee manual which addresses frequently asked questions regarding employee
relations with the Company. The employee manual will be subject to change without
notice in the sole discretion of the Company or GRMH at any time. The Executive
agrees to comply with the applicable employee manual except to the extent
inconsistent with this Agreement. In the event of a conflict between the employee
manual and this Agreement, this Agreement will control over the terms of the
employee manual.

3. Other Activities. Except for the activities (the “Permitted Activities”) expressly
permitted by this Agreement or approved by the governing body of the Company and the Board of
Directors of GRMH in writing, during the term of this Agreement, the Executive will not: (a) serve
as an officer or director of any corporation, partnership, company or firm whose securities are
publicly traded; (b) except for passive investments that do not violate this Agreement and do not
interfere with the full time employment of Executive, serve as a general partner, manager or
officer of any corporation, partnership, limited liability company, other company or firm; or (c)
directly or indirectly invest in, participate in or acquire an interest in any company, business or
entity which is engaged, directly or indirectly, in the retail sale of pharmaceutical drugs or
providing of sleep diagnostic services. The limitations in this Section 3 will not prohibit a
passive investment by the Executive in publicly traded securities where the equity interest owned
by the Executive does not exceed 2% of the total outstanding equity interests of the publicly
traded company. The Executive shall disclose in writing to the Company and the Board of Directors
of GRMH all above Permitted Activities at the time of the execution of this Agreement and
thereafter upon written request. The Company and GRMH expressly acknowledge that, during the term
of this Agreement, the Executive may serve as a director of, and own not more than 2% of the total
outstanding equity of, eq-Life LLC.

4. GRMH Management Committee. Executive hereby agrees to the termination of the Management
Committee and the Executive’s appointment to the Management Committee as contemplated in the
Original Agreement.

5. Executive’s Compensation. The Company agrees to compensate the Executive, subject to
the terms of this Agreement, as follows:

	 	5.1	 	Base Salary. A base salary (the “Base Salary”), in an annual rate of
not less than Two Hundred Thirty-five Thousand Dollars ($235,000). The Base Salary
will commence on the Effective Date of this Agreement and will be payable in arrears
bi-weekly during the term of this Agreement with the first installment to be paid on
the Company’s next regular pay period after the Effective Date of this Agreement.
	 
	 	5.2	 	Stock Option Awards.

5.2.1 Base Stock Option Awards. Upon execution of this Agreement the
Executive shall be awarded stock options exercisable for the purchase of One Hundred
Thousand (100,000) common stock shares and on September 30, 2010 and 2011 for
services performed during the preceding twelve (12) months, the Executive shall be
awarded stock options exercisable for the purchase of Seventy-Five Thousand (75,000)
common stock shares of GRMH (collectively the “Option Shares”) for the closing sale
price (or, if not available on that date, the most recently reported closing sale
price) in accordance with the Graymark Healthcare, Inc. 2008 Long-term

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Incentive Plan (the “2008 Plan”) (or a substitute or successor plan to the 2008
Plan) substantially in the form attached to this Agreement as Appendix A, Appendix B
and Appendix C (each referred to as the “Stock Option Award”).

5.2.1 Company Performance Stock Option Awards. In the event the Company
shall during the 12 months ending on September 30, 2010 or 2011 achieve operating
results equal to or in excess of ninety percent (90%) of the budgeted net income for
such 12 months (the “12-month Budgeted Income Level”), the Executive shall be
awarded stock options pursuant to a Stock Option Award Agreement exercisable for the
purchase of Twenty-Five Thousand (25,000) common stock shares of GRMH in accordance
with the 2008 Plan. Provided, however, in the event the operations of the Company
fails to achieve the 12-month Budged Income Lever during the applicable 12-month
period, the Compensation Committee and Board of Directors may in their sole
discretion authorize and approve a stock option award to the Executive exercisable
for up to Twenty-Five Thousand (25,000) common stock shares based upon and in
recognition of trends and developments within the retail pharmacy industry that
contributed to the failure to achieve the 12-month Budgeted Income Level and in
recognition that the failure to achieve the 12-month Budged Income Level was not
attributable to the failure of Executive to devote time, attention and effort to the
business endeavors of the Company. The stock options awarded pursuant to this
Section 5.2.2 shall be under the 2008 Plan and evidenced by one or more Stock Option
Award Agreements and shall be in addition to the stock options awarded to the
Executive pursuant to Section 5.2.1. Each stock option award pursuant to this
Section 5.2.2 shall vest in three equal installments, the first installment to vest
on October 1, 2010 or October 1, 2011, as may be applicable, and the second and
third installments shall vest on the first and second anniversary date of the
applicable Stock Option Award Agreement. Furthermore, in the event the Company
shall be sold or otherwise divested by GRMH prior to (i) September 30, 2010, the
Executive shall be deemed for purposes of this Section 5.2.2 to have achieved the
12-month Budgeted Income level for each of the 12-month periods ending September 30,
2010 and 2011 and shall be awarded the stock options on an accelerated basis
pursuant to this Section 5.2.2 or (ii) September 30, 2011, the Executive shall be
deemed for purposes of this Section 5.2.2 to have achieved the 12-month Budgeted
Income level for each of the 12-month periods ending September 30, 2011 and shall be
awarded the stock options on an accelerated basis pursuant to this Section 5.2.2.

5.2.3 Continuous Employment and Change of Control. Subject to the
requirement of the Executive’s continuous employment by the Company and GRMH, in the
event of a “change of control” (as defined in the 2008 Plan), fifty percent (50%) of
the unvested common stock shares for which the stock options may be exercised as
evidenced by a Stock Option Award Agreement executed and delivered to the Executive
prior to the “change of control” shall immediately vest and become exercisable by
the Executive.

	 	5.3	 	Bonus. In addition to the Base Salary described at Section 5.1 of this
Agreement, the Company and GRMH may periodically review and may pay bonus compensation
to the Executive. Any bonus compensation determined to be paid, if any, will be at the

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	 	 	 	absolute discretion of the Company or GRMH in such amounts and at such times as the
Company or GRMH may determine.

	 	5.4	 	Benefits. During the term of this Agreement, the Executive shall be
entitled to participate in any employee benefit plans and programs which are maintained
by the Company or GRMH for and generally available to employees of the Company or GRMH,
all in accordance with the terms of such plans and programs. In addition, the
Executive shall be entitled to participate in any employee benefit plans and programs
that are maintained by the Company or GRMH for and generally available to its executive
officers, all in accordance with the terms of such plans and programs. The Company or
GRMH shall reimburse the Executive for all reasonable and ordinary expenses incurred by
him on behalf of the Company or GRMH in the course of the Executive’s duties upon the
presentation by the Executive of appropriate documentation substantiating the amount of
and purpose for which such expenses were incurred, in accordance with Company or GRMH
policy. The Executive will be entitled to take up to four (4) weeks of paid vacation
each calendar year during the term of this Agreement, without carryover to the
following calendar year.
	 
	 	5.5	 	Compensation Review. The compensation of the Executive will be
reviewed not less frequently than annually by the Company and GRMH.

6. Term. In the absence of termination as set forth in Section 7 below, this Agreement
shall extend for a term of three (3) years commencing on the Effective Date of this Agreement and
ending on September 30, 2012 (the “Employment Period”); provided, however, that commencing on the
one-year anniversary of the Effective Date and each annual anniversary of such date (the “Renewal
Date”) the Employment Period shall be automatically extended so as to terminate three (3) years
from such Renewal Date. If at least 120 days prior to the Renewal Date, the Company or GRMH gives
Executive notice that the Employment Period will not be so extended, this Agreement will continue
for the remainder of the then current Employment Period and expire. The Employment Period may be
sooner terminated under Section 7 of this Agreement.

7. Termination. This Agreement will continue in effect until the expiration of the term
set forth in Section 6 of this Agreement, unless earlier terminated pursuant to this Section 7.

	 	7.1	 	Termination by Company. The Company and GRMH will have the following
rights to terminate this Agreement:

7.1.1 Termination without Cause. The Company and GRMH may terminate this
Agreement without cause at any time by the service of written notice of termination
to the Executive specifying an effective date of such termination not sooner than
thirty (30) days after the date of such notice (the “Termination Date”). In the
event this Agreement is terminated without cause by the Company and GRMH (i) the
Executive shall be entitled to receive all compensation, reimbursements and benefits
hereunder which were either payable to the Executive or which had been earned by the
Executive as of the Termination Date, and (ii) the Executive will receive as
severance compensation, conditioned upon Executive being in compliance with all
provisions of this Agreement and no default having occurred or be continuing: (x)
the sum of Two Hundred Thirty-five Thousand ($235,000) less all applicable

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federal
and state payroll tax withholdings (if any), to be paid in equal monthly
installments over twelve (12) months without interest; and (y) the continuance of
all benefits under Section 5.3 of this Agreement for one (1) year after the
Termination Date. The parties acknowledge that the amount payable pursuant to clause
(ii) (x) includes payment for all vacation pay payable to the Executive through the
Termination Date and, therefore, no amounts shall be payable pursuant to clause (i)
for accrued vacation pay. Provided however, no payment under this section 7.1.1
shall be due or payable to Executive after the Termination Date in the event that
Executive shall assert or claim that any part of any this Agreement (including but
not limited to Sections 8, 9, 10 or 11) is invalid or unenforceable, in whole or
part.

7.1.2 Termination for Cause. The Company or GRMH may terminate this
Agreement for cause upon written notice if the Executive: (a) engages in gross
personal misconduct which materially injures the Company or GRMH, or any fraud or
deceit regarding the business of the Company or GRMH or its or their customers or
suppliers; (b) enters a plea of nolo contendere to or is convicted of a felony; (c)
willfully and repeatedly fails to perform the Executive’s duties under this
Agreement after receiving notice and being provided an opportunity to correct such
actions or (d) breaches any material term or provision of this Agreement (“for
cause”). In the event this Agreement is terminated for cause by the Company or
GRMH, (i) the Executive shall be entitled to receive all compensation,
reimbursements and benefits under this Agreement that are either payable to the
Executive or that are earned by the Executive as of the Termination Date, and (ii)
the Company and GRMH will not have any obligation to provide any further payments or
benefits to the Executive after the effective date of such termination. This
Agreement will not be deemed to have terminated for cause unless a written
determination specifying the reasons for such termination shall be made and
delivered to the Executive by the Company and GRMH. Thereafter, the Executive shall
have the right for a period of thirty (30) days to request a Company and GRMH
meeting to be held at a mutually agreeable time and location within such thirty (30)
days and attended by the governing body (or a representative appointed for this
purpose) of the Company and GRMH then serving, at which meeting the Executive will
have an opportunity to be heard. In the event of a termination for cause by the
Company and GRMH, Executive acknowledges the Funding Agreement (defined below) shall
continue in full force and effect.

	 	7.2	 	Termination by Executive. The Executive will have the following rights
to terminate this Agreement:

7.2.1 Termination Without Cause. The Executive may voluntarily terminate
this Agreement without cause by the service of written notice of such termination to
the Company and GRMH specifying an effective date of such termination thirty (30)
days after the date of such notice, during which time Executive may use remaining
accrued vacation days or, at the option of the Company and GRMH, be paid for such
days. In the event this Agreement is terminated without cause by the Executive, (i)
the Executive shall be entitled to receive all compensation, reimbursements and
benefits hereunder that are either payable to the Executive or that had been earned
by the Executive as of the Termination Date, and (ii) the Company and GRMH will have
no further obligations to Executive hereunder including, without limitation, any

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obligation of either the Company or GRMH to provide any further compensation,
payments or benefits to the Executive after the effective date of such termination.
In the event this Agreement is terminated without cause by the Executive, Executive
acknowledges the Funding Agreement (defined below) shall continue in full force and
effect.

7.2.2 Termination for Cause. The Executive may terminate this Agreement at
any time for cause by giving written notice thereof to the Company and GRMH. For
purposes of this Section 7.2.2, the term “cause” shall mean a breach by the Company
or GRMH of any material term or provision set forth in Sections 5.1 or 5.3 of this
Agreement for the payment of compensation or benefits to which Executive is entitled
under this Agreement, which breach is not cured within thirty (30) days after notice
of such breach to the Company and GRMH by the Executive setting forth the facts upon
which the breach is based. In the event this Agreement is terminated by the
Executive for cause, (i) the Executive shall be entitled to receive all
compensation, reimbursements and benefits hereunder which were either payable to the
Executive or which had been earned by the Executive as of the termination date, and
(ii) the Executive shall be entitled to receive as termination compensation: (x) the
sum of Two Hundred Thirty-five Thousand Dollars ($235,000) less all applicable
federal and state payroll tax withholdings (if any), to be paid within thirty (30)
days after the termination date; and (y) the continuance of all benefits under
Section 5.3 of this Agreement for one (1) year after the Termination Date.

	 	7.3	 	Incapacity of Executive. If the Executive suffers from a physical or
mental condition which, in the reasonable judgment of the Company and GRMH, prevents
the Executive in whole or in part from performing the duties specified herein for a
period of three (3) consecutive months, the employment of Executive may be terminated.
The termination for such incapacity shall be deemed as a termination with cause, and
all compensation and benefits payable under Section 5 of this Agreement will be
continued for six (6) months if the Executive shall be in compliance with all of the
material terms of this Agreement, and no default by Executive under this Agreement
shall have occurred or shall be continuing. Notwithstanding the foregoing, the
Executive’s Base Salary specified in Section 5.1 of this Agreement will be reduced by
any benefits payable under any disability plans provided by the Company and GRMH under
Section 5 of this Agreement. Provided however, that no such compensation as set forth
in this 7.3 shall be due and payable in the event that and to the extent of a default
that has occurred and is continuing under the terms of the Funding Agreement.
	 
	 	7.4	 	Death of Executive. If the Executive should become deceased during the
term of this Agreement, such shall be deemed a termination for cause and the Company or
GRMH may thereafter terminate this Agreement without compensation to the Executive’s
estate except: (a) the obligation to continue the Base Salary payments under Section
5.1 of this Agreement for six (6) months after the effective date of such termination,
and (b) the obligation to continue the benefits described in Section 5.3 of this
Agreement, if any or if applicable, for six (6) months after the effective date of such
termination, in both cases if the Executive was in compliance with all of the material
terms of this Agreement and no default by the Executive under this

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	 	 	 	Agreement has occurred or is continuing. Provided however, that no such
compensation as set forth in this 7.4 shall be due and payable in the event that and
to the extent of a default that has occurred and is continuing under the terms of
the Funding Agreement.

	 	7.5	 	Effect of Termination. The termination of this Agreement will
terminate all obligations of the Executive to render services on behalf of the Company
and GRMY, provided that the Executive will maintain the confidentiality of all
information that is acquired by the Executive during the term of the Executive’s
employment in accordance with Section 8 of this Agreement. Except as otherwise
provided in this Section 7, no accrued bonus, severance pay or other form of
compensation will be payable by the Company or GRMH to the Executive by reason of the
termination of this Agreement. All keys, entry cards, credit cards, files, records,
financial information, furniture, furnishings, equipment, computers and laptops,
software, supplies and other items relating to the Company or GRMH will remain the
property of the Company or GRMH, as may be applicable. The Executive shall have the
right to retain and remove all personal property and effects that are owned by the
Executive and located in the offices of the Company or GRMH. All such personal items
will be removed from such offices no later than ten (10) days after the effective date
of termination and the Company or GRMH, as may be applicable, shall be authorized to
discard any items remaining thereafter. Prior to the effective date of termination,
the Executive will cooperate with the Company and GRMH to provide for the orderly
termination of the Executive’s employment.
	 
	 	7.6	 	Condition. As a condition precedent to the right to receive the
payments set forth in this Section 7, the Executive (or his personal representative)
shall execute a waiver and release of all claims against the Company, its governing
body, and GRMH and its governing body and the other party to the Funding Agreement,
which the Executive has or may have, in form reasonably acceptable to the Company and
GRMH, other than as to the right to receive payments as provided in this Section 7 or
as set forth in and applicable under Section 7.7 below and the Executive shall be and
remain in compliance at all times with this Agreement. Each of the Company and GRMH
shall have the right of offset under this Agreement.
	 
	 	7.7	 	Release of Executive. GRMH and the Company agree that if the employment
of Executive with the Company and GRMH is terminated pursuant to Section 7.1.1 or
7.2.2, GRMH and Company shall cause the Executive to be discharged and released from
all personal guarantees of debt provided by the Executive on behalf of the Company or
GRMH, including but not limited to that certain Loan Agreement among GRMH, SDC
Holdings, LLC, the Company, Oliver Company Holdings, LLC, Roy T. Oliver, Stanton M.
Nelson, Roy T. Oliver as Trustee of the Roy T. Oliver Revocable Trust dated June 15,
2004, Vahid Salalati, Kevin Lewis, Roger Ely, the Executive and Arvest Bank, dated May
21, 2008 and as amended and the related agreements and documents thereunder (the
“Funding Agreement”). GRMH and Company agree that if the employment of Executive with
the Company and GRMH is terminated pursuant to Section 7.3 or 7.4, GRMH and Company
shall cause Executive to be discharged and released from all personal guarantees of
debt provided by the Executive on behalf of the Company or GRMH, except that

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	 	 	 	Executive acknowledges and agrees that such guarantees (including under the Funding
Agreement) shall continue to apply to the extent of but limited to the shares of
GRMH issued to Executive.

8. Confidentiality. The Executive recognizes that the nature of the Executive’s
services are such that the Executive will have access to information which constitutes trade
secrets, and/or is of a business or confidential nature, that is of great value to the Company or
GRMH. The Executive agrees not to disclose to any person other than the employees or approved
legal counsel of the Company or GRMH nor use for any purpose, other than the performance of this
Agreement, any such confidential information (“Confidential Information”), regardless of the source
of the Confidential Information or how same shall be obtained. All such Confidential Information
shall be the sole and exclusive property of the Company or GRMH, as applicable. Confidential
Information includes, but is not limited to, data or material (regardless of form) which is any of
the following: (a) trade secret, non-public information, or information proprietary to the Company
or GRMH, (b) information pertaining to proposed or pending pharmacy acquisitions or sales, proposed
or pending sleep center acquisitions, or other proposed or pending business of GRMH or the Company
and (c) financial information or business plans of the Company or GRMH. The Executive agrees that
the provisions of this Section 8 will survive the termination, expiration or cancellation of this
Agreement for a period of two (2) years. The Executive will, upon any termination of this Agreement
(or at any other time requested by the Company or GRMH), deliver to the Company and GRMH, as may be
applicable, all originals and copies of the documents or materials containing Confidential
Information. For purposes of this Agreement, GRMH expressly includes any of their affiliated
corporations, partnerships, limited liability companies and other entities.

9. Restrictive Covenant. Notwithstanding any provision of this Agreement to the contrary,
and in further consideration of the terms of this Agreement, for a period of twenty-four (24)
months after Executive is no longer employed by the Company and GRMH for any reason with or without
cause as applicable, the Executive will not directly or indirectly:

	 	(a)	 	acquire, attempt to acquire, solicit, perform services in any capacity for, or aid
another in the acquisition or attempted acquisition of an interest in any business that is
involved in the acquisition of retail pharmacies or that is involved in the retail sale of
pharmaceutical drugs or the providing of sleep disorder diagnostic services, in any city in
the United States where GRMH or any of its affiliated corporations, partnerships, limited
liability companies or other entities owns a pharmacy or sleep center, or that is within 40
miles of a pharmacy or sleep center location owned by GRMH or any of its affiliated
corporations, partnerships, limited liability companies or other entities; or
	 
	 	(b)	 	solicit, induce, entice or attempt to entice any employee, officer or director (except
the Executive’s personal secretary, if any), contractor, customer, vendor or subcontractor
of GRMH or any of its affiliated corporations, partnerships, limited liability companies or
other entities to terminate or breach any relationship with GRMH or any of its affiliated
corporations, partnerships, limited liability companies or other entities, or
	 
	 	(c)	 	solicit, induce, entice or attempt to entice any customer, vendor or subcontractor of
GRMH or any of its affiliated corporations, partnerships, limited liability companies or
other entities to cease doing business with GRMH or any of its affiliated corporations,
partnerships, limited liability companies or other entities.

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     Executive agrees that the Executive will not circumvent or attempt to circumvent the foregoing
agreements by any future arrangement or through the actions of a third party.

     Executive agrees the above separate restrictions will not work any undue hardship on
Executive, such restrictions are reasonable and that such restrictions will not keep Executive from
earning a living or obtaining reasonable employment. Executive is a stockholder of GRMH and former
direct member of the Company and agrees that the restrictions herein are in further consideration
thereof, this Agreement and the sale and transfer of all goodwill associated with the former
ownership of Company held by Executive pursuant to that certain Exchange Agreement dated November
19, 2007.

10. Proprietary Matters. The Executive expressly understands and agrees that any and all
improvements, inventions, discoveries, processes, applications, patents, copyrights, trade names,
trademarks, know-how, trade secrets, or other proprietary matters (“Proprietary Items”) that are
principally related to the business of the Company or GRMH and which were generated or conceived by
the Executive during the term of this Agreement, whether generated or conceived during the
Executive’s regular working hours or otherwise, and whether patentable, subject to copyright or
trademark protection or not, will be the sole and exclusive property of the Company or GRMH, as
applicable. Whenever requested by the Company or GRMH (either during the term of this Agreement or
thereafter), the Executive will assign or execute any and all applications, assignments and or
other instruments and do all things reasonably necessary or appropriate in order to permit the
Company or GRMH, as may be applicable, to: (a) assign and convey or otherwise make available to
the Company or GRMH the sole and exclusive right, title, and interest in and to the Proprietary
Items; or (b) apply for, obtain, maintain, enforce and defend patents, copyrights, trade names, or
trademarks of the United States or of foreign countries for the Proprietary Items. In the event
any action requested by the Company or GRMH to be taken by the Executive after the termination of
this Agreement involves more than a de minimis amount of time, the Company or GRMH shall reasonably
compensate the Executive for his time.

11. Arbitration. The parties will attempt to promptly resolve any dispute or
controversy arising out of or relating to this Agreement or termination of the Executive by the
Company or GRMH. Any negotiations pursuant to this Section 11 shall be confidential and will be
treated as compromise and settlement negotiations for all purposes. If the parties are unable to
resolve the dispute, the dispute will be submitted to binding arbitration before a single
arbitrator in accordance with the Rules for Commercial Cases of the American Arbitration
Association and shall be undertaken pursuant to the Federal Arbitration Act. The arbitrator will
be instructed and empowered to take reasonable steps to expedite the arbitration and the
arbitrator’s judgment will be final and binding upon the parties subject solely to challenge on the
grounds of fraud or gross misconduct. The arbitrator is not empowered to award punitive or
exemplary damages but only compensatory damages and each party hereby irrevocably waives any
damages or right thereto other than such compensatory damages. The arbitrator shall be empowered
to apply the remedy of specific enforcement. The arbitration will be held in Oklahoma City,
Oklahoma. Judgment upon any verdict in arbitration may be entered in any court of competent
jurisdiction. Each party will initially bear its own costs in connection with the arbitration and
the costs of the arbitrator will be borne by the party who the arbitrator determines did not
prevail in the matter. The procedures specified in this Section 11 will be the sole and exclusive
remedies and procedures for the resolution of disputes and controversies between the parties
arising out of or relating to this Agreement. Notwithstanding the foregoing, a party may seek

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a preliminary injunction or other provisional judicial relief if in such party’s judgment such
action is necessary to avoid irreparable damage or to preserve the status quo pending arbitration.
The parties hereby consent to the exclusive jurisdiction of and proper venue in, either the Federal
District Court for the Western District of Oklahoma or Oklahoma County District Court, sitting in
Oklahoma County, Oklahoma (as applicable) for purposes of any permitted action in the nature of a
preliminary injunction.

12. Miscellaneous. The parties further agree as follows:

	 	12.1	 	Time. Time is of the essence of each provision of this Agreement.
	 
	 	12.2	 	Notices. Any notice, payment, demand or communication required or
permitted to be given by any provision of this Agreement will be in writing and will be
deemed to have been given when delivered personally or by confirmed telefacsimile to
the party designated to receive such notice, or on the date following the day sent by
overnight courier, or on the third (3rd) business day after the same is sent by
certified mail, postage and charges prepaid, directed to the following address or to
such other or additional addresses as any party might designate by written notice to
the other party:

	 	 	 
	To the Company:

	 	ApothecaryRx, LLC

210 Park Avenue, Suite 1350

Oklahoma City, Oklahoma, 73102
	 
	 	 
	To the Executive:

	 	Mr. Lewis P. Zeidner

5400 Union Terrace Lane North

Plymouth, Minnesota 55442
	 
	 	 
	To GRMH:

	 	Graymark Healthcare, Inc.

210 Park Avenue, Suite 1350

Oklahoma City, Oklahoma, 73102

	 	12.3	 	Assignment. Neither this Agreement nor any of the parties’ rights or
obligations hereunder can be transferred or assigned without the prior written consent
of the other parties to this Agreement, except that this Agreement shall be assignable
to any successor in interest of the Company or GRMH or any successor in interest to
substantially all of the assets of the Company or GRMH.
	 
	 	12.4	 	Construction and Severability. This Agreement is intended to be
interpreted, construed and enforced in accordance with the laws of the State of
Oklahoma, notwithstanding any conflict of law principles. The rule of construction that
an agreement shall be construed against the drafter shall not apply as all parties
hereto have negotiated and drafted this Agreement. If any provision of this Agreement
or the application thereof to any person or circumstance is determined, to any extent,
to be invalid or unenforceable, the remainder of this Agreement, or the application of
such provision to persons or circumstances other than those as to which the same is
held invalid or unenforceable, will not be affected thereby, and each term and
provision of this Agreement will be valid and enforceable to the fullest extent
permitted by law.

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	 	12.5	 	Entire Agreement. Except as provided in this Agreement, this Agreement
is the final, complete and exclusive expression of the agreement among and between the
Company, GRMH and the Executive, supersedes and replaces in all respects the Original
Agreement and any other prior employment agreements and on execution the employment
relationship among and between the Company, GRMH and the Executive after the effective
date of this Agreement will be governed by the terms of this Agreement and not by the
Original Agreement or any other agreements, oral or otherwise. That certain Employment
Agreement by and between Company and Executive dated June 30, 2006 (“Prior Agreement”)
was terminated pursuant to the Original Agreement and Executive waived and released
any claim the Executive had or may have had under or relating to the Prior Agreement.
No modification of this Agreement will be effective unless made by a written agreement
executed by all of the parties. No inducement to any party exists except as set forth
in this Agreement in writing. This Agreement may be executed in multiple counterparts,
each of which shall be deemed an original but all of which taken together shall
constitute one and the same instrument.
	 
	 	12.6	 	Binding Effect. This Agreement will be binding on the parties and
their respective successors, legal representatives and permitted assigns.
	 
	 	12.7	 	Attorneys’ Fees. If any party institutes a permissible action or
proceeding or an arbitration against any other party relating to the provisions of this
Agreement or any default hereunder, the unsuccessful party to such action or proceeding
will reimburse the successful party therein for the reasonable expenses of attorneys’
fees and disbursements and litigation expenses incurred by the successful party.

[SIGNATURES ON FOLLOWING PAGE]

11

 

     IN WITNESS WHEREOF, the undersigned have executed this Agreement to be effective as of the
Effective Date.

	 	 	 	 	 
	 	APOTHECARYRx, LLC, an Oklahoma limited liability company

 	 
	 	By:  	/S/ STANTON NELSON
 	 
	 	 	Stanton Nelson, Manager 	 
	 	Date: October 13, 2009

(the “Company”) 	 
	 

	 	 	 	 	 
	 	 	 
	 	                                              /S/ LEWIS P. ZEIDNER
 	 
	 	LEWIS P. ZEIDNER, individually 	 
	 	Date: October 13, 2009

(the “Executive”) 	 
	 
	 	Graymark Healthcare, Inc.

 	 
	 	By:  	/S/ STANTON NELSON
 	 
	 	 	Stanton Nelson, Chief Executive Officer 	 
	 	Date: October 13, 2009

(“GRMH”) 	 
	 

12ex10_1.htm

    Exhibit
10.1

    
 

    
      AMEREN
DEFERRED COMPENSATION PLAN

      AS
AMENDED AND RESTATED

      EFFECTIVE
JANUARY 1, 2010

      

      WHEREAS, Ameren Corporation amended and
restated the Ameren Corporation Deferred Compensation Plan (“Plan”) effective
January 1, 2008;

      

      WHEREAS, Ameren Corporation reserved
the right to amend the Plan; and

      

      WHEREAS, effective January 1, 2010,
Ameren Corporation desires to amend the Plan to change the interest crediting
rates for deferrals made with respect to Plan Years (as defined herein)
commencing on and after January 1, 2010 and to add a 401(k) Restoration Benefit
(as defined herein);

      

      NOW, THEREFORE, effective January 1,
2010, the Plan is amended and restated as follows:

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                AMEREN
      DEFERRED COMPENSATION PLAN

              

      

      
        	
                 
      

              	
                As
      Amended and Restated Effective January 1, 2010

                 

              

      

      
        
          

        

      
        	
                1.  

              	
                PURPOSE AND
      AMENDMENT

              

      

      

      
        	
                 
      

              	
                The
      purpose of the Ameren Deferred Compensation Plan (“Plan”) is to provide
      eligible participants with the opportunity to defer up to 50 percent of
      Salary and some or all of the Incentive Awards awarded pursuant to the
      Ameren Corporation Executive Incentive Compensation Program and to provide
      a 401(k) Restoration Benefit.  Participation in the Plan is
      voluntary.  The implementation of the Plan will provide Ameren
      Corporation and its subsidiaries (“Ameren”) with the means to attract and
      retain key employees by offering a competitive compensation deferral
      program.  The Plan is administered by Ameren Services Company
      (“Company”).

              

      

      

      
        	
                2.  

              	
                DEFINITIONS

              

      

      

      
        	
                 
      

              	
                Certain
      words and phrases are defined when first used in later paragraphs of the
      Plan.  In addition, the following words and phrases when used
      herein, unless the context clearly requires otherwise, shall have the
      following respective meanings:

              

      

      

      
        	
                A.  

              	
                Ameren:  As
      used herein shall mean Ameren Corporation and its
      subsidiaries.

              

      

      

      
        	
                B.  

              	
                Board:  The
      Board of Directors of Ameren
Corporation.

              

      

      

      
        	
                C.  

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

              

      

      

      
        	
                D.  

              	
                Company:  As
      used herein shall mean Ameren Services Company, as agent for Ameren and as
      administrator of the Plan.

              

      

      

      
        	
                E.  

              	
                Deferral
      Account:  Book entries reflecting each Participant’s
      Deferred Amount, Matching Credits and Interest credited or debited, as
      applicable, thereon pursuant to the provisions of
      Section 6.  A separate Deferral Account shall be maintained
      for each Deferral Commitment commenced
  hereunder.

              

      

      

      
        	
                F.  

              	
                Deferral
      Commitment:  The sum of the Salary and Incentive Award
      deferrals to which the Participant obligates himself pursuant to the
      provisions of Section 4.

              

      

      

      
        	
                G.  

              	
                Deferred
      Amount:  The amount of Salary and Incentive Award which a
      Participant elects to defer pursuant to the provisions of the
      Plan.

              

      

      

      
        	
                H.  

              	
                Effective
      Date:  January 1, 2010, as restated and amended from time
      to time.

              

      

      

      
        	
                I.  

              	
                401(k) Restoration
      Benefit:  The 401(k) Restoration Deferrals described in
      Section 4.A, together with the Matching Credits described in Section
      7.C.

                 

                 

              

      

      

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

      
        	
                J.  

              	
                401(k) Restoration
      Deferrals:  The 401(k) Restoration Deferrals described in
      Section 4.A.

              

      

      

      
        	
                K.  

              	
                Incentive
      Award:  The portion of an incentive award awarded to an
      officer, executive or other employee of Ameren pursuant to the provisions
      of the Ameren Executive Incentive Compensation Program which is deferred
      pursuant to the provisions of the
Plan.

              

      

      

      
        	
                L.  

              	
                Interest:  The
      amount of interest which a Participant shall be deemed to earn on his
      Deferred Amounts and which shall be credited to his Deferral Account as
      determined pursuant to Section 7 and the hypothetical earnings or losses
      on his 401(k) Restoration Benefit which shall be credited or debited to
      his Deferral Account as determined pursuant to Section
  7.

              

      

      

      
        	
                M.  

              	
                Matching
      Credits:  The Matching Credits described in Section
      7.C.

              

      

      

      
        	
                N.  

              	
                Participant:  Any
      person eligible to participate in the Plan pursuant to Section 3 who
      elects or has elected to defer a portion of his Salary and/or Incentive
      Awards pursuant to the provisions of the
Plan.

              

      

      

      
        	
                 
      

              	
                For
      purposes of Sections 8 and 9, a Participant who transfers employment to
      any subsidiary of Ameren Corporation or other entity in which Ameren
      Corporation has a 20 percent or greater ownership interest shall be deemed
      not to have terminated employment as long as such Participant is an
      employee of such a subsidiary or entity.  However, deferral
      elections made by such individual with respect to Salary earned in the
      year of the transfer and deferral elections made prior to the date of
      transfer with respect to Incentive Awards shall remain in effect after the
      transfer.

              

      

      

      
        	
                O.  

              	
                Performance-Based
      Compensation:  An Incentive Award that (a) is based on
      services performed over a period of at least 12 months and (b) constitutes
      performance-based compensation as defined in Treasury Regulations issued
      under Code Section 409A.

              

      

      

      
        	
                P.  

              	
                Plan:  The
      Ameren Deferred Compensation Plan, as amended and
  restated.

              

      

      

      
        	
                Q.  

              	
                Plan
      Year:  The 12-month period commencing January 1 and
      ending on December 31.

              

      

      

      
        	
                R.  

              	
                Retirement:  Termination
      of employment after attainment of at least age
  55.

              

      

      

      
        	
                S.  

              	
                Salary:  The
      annual base pay of a Participant, exclusive of any income from
      commissions, benefits, allowances, and/or other incentive plans paid by
      Ameren.

              

      

       

      
 

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      
        	
                T.  

              	
                Specified
      Employee:  A key employee (as defined in Code Section
      416(i) without regard to Code Section 416(i)(5)) determined in accordance
      with the meaning of such term under Code Section 409A and the regulations
      promulgated thereunder and the resolutions of the Board of Directors of
      Ameren Corporation governing such
determination.

              

      

      

      
        	
                3.  

              	
                ELIGIBILITY

              

      

      

      
        	
                 
      

              	
                Any
      employee of Ameren who is designated and treated by Ameren as a member of
      the Ameren Leadership Team shall be eligible to participate in the Plan,
      unless the Administrative Committee of Ameren Corporation designates such
      person as ineligible for the Plan, and except as otherwise provided in the
      Amendment to the Plan dated June 13, 2008.  Any individual
      who is eligible to participate in the Plan may become a Participant by
      commencing a Deferral Commitment.  The 401(k) Restoration
      Benefit shall only be available to eligible officers of Ameren whose total
      Salary and Incentive Awards for a Plan Year exceeds the limit on
      compensation in effect under Code
  Section 401(a)(17).

              

      

      

      
        	
                4.  

              	
                COMMENCING A DEFERRAL
      COMMITMENT

              

      

      

      
        	
              	
                A.

              	
                Maximum
      Deferrals:

              

      

      

      
        	
                 
      

              	
                A
      Participant may commence a Deferral Commitment by making an election to
      defer a percentage of Salary, in 1 percent increments, up to a maximum of
      50 percent. The amount of Salary deferred may not reduce the amount of the
      Participant’s non-deferred Salary for the year of deferral below the
      maximum level of “Federal Insurance Contributions Act taxable wages”
      (i.e., the FICA taxable wage base).  Upon application to the
      Company by a Participant, the Company may, in its discretion, permit a
      Participant to defer Salary in excess of 50 percent or waive the FICA
      taxable wage base limitation.  A Participant may defer receiving
      some or all of an Incentive Award granted to such Participant, as
      described above, by electing to defer receiving either a percentage of an
      Incentive Award otherwise payable to him or by electing to defer all of an
      Incentive Award greater than a set dollar
  amount.

              

      

      

      
        	
                 
      

              	
                A
      Participant who is an officer of Ameren may also make a Deferral
      Commitment to defer a percentage of Salary and/or Incentive Awards in
      excess of the limit on compensation in effect under Code
      Section 401(a)(17) for the Plan Year to which such Deferral
      Commitment relates, in 1 percent increments, up to a maximum of
      6 percent of total Salary and Incentive Awards.  These
      deferrals shall be referred to in the Plan as 401(k) Restoration
      Deferrals.

              

      

      

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      
        	
              	
                B.

              	
                Irrevocability of
      Deferral Commitment:

              

      

      

      
        	
                 
      

              	
                During
      a Plan Year, a Deferral Commitment shall be irrevocable, and the deferral
      percentage or amount elected by the Participant thereunder shall not be
      increased or decreased.

              

      

      

      
        	
              	
                C.

              	
                Term of Deferral
      Commitment:

              

      

      

      
        	
                 
      

              	
                The
      term of a normal Deferral Commitment shall be the Plan
    Year.

              

      

      

      
        	
              	
                D.

              	
                Crediting of Deferred
      Amounts:

              

      

      

      
        	
                 
      

              	
                The
      Participant’s Deferred Amounts shall be credited to his Deferral Account
      by no later than the end of the month in which such amounts would, but for
      such deferral, be payable to the
Participant.

              

      

      

      
        	
                5.  

              	
                TERMS OF DEFERRAL
      ELECTION

              

      

      

      
        	
                 
      

              	
                A
      Participant’s written election to defer Salary and/or Incentive Award for
      a Plan Year shall indicate the percentage or amount of Salary and/or
      Incentive Award which the Participant is electing to defer under the Plan
      and the method of distribution of such amounts, as permitted under Section
      8.  Such election shall be made in accordance with procedures
      established by the Company by no later than the last date specified for
      such election, which shall not be later than (a) in the case of an
      election to defer Salary or an Incentive Award that is not
      Performance-Based Compensation, the December 31 preceding the first day of
      the Plan Year for which the Salary or Incentive Award is earned or (b) in
      the case of an election to defer an Incentive Award which is
      Performance-Based Compensation, a date (as determined by the Company) no
      later than the date that is six months before the end of the performance
      period, provided that, (1) the Participant continuously performs services
      from the date the performance criteria are established through the date
      the Participant makes his or her election and (2) the Incentive Award is
      not substantially certain to be paid and is not readily ascertainable as
      of such date.  An election to make 401(k) Restoration Deferrals
      must also be made in accordance with these timing
      requirements.  Therefore, the Company shall determine and
      describe in the deferral election process whether an election to make
      401(k) Restoration Deferrals shall be satisfied by deferring Salary and/or
      Incentive Awards.

              

      

      

      
        	
                 
      

              	
                In
      the case of a Participant who first becomes eligible to participate in
      this Plan during a Plan Year, an election to defer Salary and/or an
      Incentive Award may be made within 30 days after the date the
      employee first becomes eligible to participate in the Plan, provided that
      the employee has not previously been eligible to participate in any other
      nonqualified account balance plan maintained by Ameren (as defined in
      Treasury Regulation Section 1.409A-1(c)(2)(i)(A)), with respect to Salary
      and Incentive Awards paid for services to be performed subsequent to the
      election, which shall be irrevocable during such initial year of
      participation.  With respect to an Incentive Award, such initial
      election shall apply only to the portion of such compensation equal to the
      total amount of 

              

      

       

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

         

        compensation for the
performance period multiplied by the ratio of the number of days remaining in
the performance period after the election over the total number of days in the
performance period.  However, an election with respect to an Incentive
Award may apply to the entire Incentive Award, if elected by the Participant,
and/or be made at a later date if otherwise permitted under Section 5(b).

         

      

      
        	
                6.  

              	
                PARTICIPANT DEFERRAL
      ACCOUNT

              

      

      

      
        	
                 
      

              	
                There
      shall be established a Deferral Account in the name of each Participant
      who elects to defer Salary and/or an Incentive Award by commencing a
      Deferral Commitment under the provisions of the Plan. A separate Deferral
      Account will be maintained for each Deferral Commitment commenced by each
      Participant with respect to Salary and Incentive Awards related to that
      Deferral Commitment and, if applicable, Matching Credits and Interest
      credited or debited, as applicable.  The Deferral Account shall
      reflect the value of the Participant’s Deferred Amounts plus Interest
      credited thereon with respect to the specific Deferral
      Commitment.  The records for each Deferral Account maintained
      for the Participant shall be available for inspection by the Participant
      at reasonable times, and the Company shall make available to the
      Participant a statement indicating the aggregate amount credited to each
      of the Participant’s Deferral Accounts and the value of each such Deferral
      Account.

              

      

      

      
        	
                7.  

              	
                INTEREST AND MATCHING
      CREDITS ON DEFERRED AMOUNTS

              

      

      

      
        	
                A.  

              	
                With
      respect to Deferred Amounts other than 401(k) Restoration Benefits,
      Interest calculated at the rate or rates, as hereinafter described, shall
      accrue from the date Salary and/or Incentive Awards deferrals are credited
      to the Participant’s Deferral Account and shall be compounded annually and
      credited to the Participant’s Deferral Account as of the last business day
      of each Plan Year (or as of such other dates as determined by the Company)
      for which the Participant has a Deferral Account balance. While the
      Participant is employed by Ameren, the Participant’s Deferral Account
      balance shall earn Interest at the “Plan Interest Rate.”  After
      retirement, termination of employment (in the case of a Specified Employee
      subject to a 6-month delay described in Section 9.C) or following the
      death of the Participant, the Participant’s Deferral Account balance shall
      earn Interest at the “Base Interest
Rate.”

              

      

      

      
        	
                 
      

              	
                For
      this purpose, Interest is calculated annually as of the first day of the
      Plan Year.  The “Plan Interest Rate” for any Plan Year
      commencing before January 1, 2010 shall be 150 percent of the average
      Mergent’s Seasoned AAA Corporate Bond Yield Index (“Mergent’s Index”
      formerly called “Moody’s Index”) for the previous calendar
      year.  The “Plan Interest Rate” for any Plan Year commencing on
      and after January 1, 2010 shall be 120 percent of the applicable federal
      long-term rate, with annual compounding (as prescribed under section
      1274(d) of the Code) (“AFR”) for the December immediately preceding such
      Plan Year.

              

      

       

      
 

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      
        	
                 
      

              	
                The
      “Base Interest Rate” for any Plan Year commencing before January 1, 2010
      shall be equal to the average Mergent’s Index for the previous calendar
      year.  The “Base Interest Rate” for any Plan Year commencing on
      and after January 1, 2010 shall be equal to 120 percent of the AFR for the
      December immediately preceding such Plan
Year.

              

      

      

      
        	
                B.  

              	
                A
      Participant’s 401(k) Restoration Benefit shall be credited with earnings
      and losses based on hypothetical investments selected by the Participant,
      in accordance with the investment options and procedures adopted by the
      Company in its sole discretion from time to time.  A
      Participant’s 401(k) Restoration Benefit shall be adjusted periodically as
      determined in accordance with procedures established by the Company to
      reflect investment gains and
losses.

              

      

      

      
        	
                C.  

              	
                Matching
      Credits.  Ameren shall credit each Participant’s Deferral
      Account with a matching credit equal to 100 percent of the first 3 percent
      of Salary and Incentive Awards and 50 percent of the remaining Salary and
      Incentive Awards deferred by the Participant as a 401(k) Restoration
      Deferral under Section 4.A.  Such Matching Credits shall be
      credited to a Participant’s Deferral Account as soon as administratively
      feasible following the Participant’s
deferral.

              

      

      

      
        	
                8.  

              	
                DISTRIBUTION AT
      RETIREMENT

              

      

      

      At the
time that a Participant makes an election to defer Salary and/or Incentive
Awards under the Plan, he shall select a method for the distribution of the
balance of that Deferral Account.  Upon Retirement, the balance of
each of the Participant’s Deferral Account(s) shall be distributed to the
Participant according to the pay-out method selected by the Participant;
provided that, any Deferral Account which is subject to a scheduled payment
option pursuant to Section 10 as of the year in which the Participant retires or
a year following the year in which a Participant retires shall be paid under
Alternative 1.  A Participant may elect to receive his account
distribution as a lump sum or in substantially equal installments over a set
period up to 15 years.  Under either payment method, a Participant can
elect to commence distribution at the time of Retirement or defer such
payment(s) until March 1 of the calendar year following Retirement. (For
example, a Participant whose Retirement is effective June 1, 2009, may
defer payment from his Deferral Account(s) until March 1,
2010.)  Notwithstanding a Participant’s election, payment of benefits
shall not be made or commence under this Section 8 prior to the date which is 6
months after the date of a Participant’s Retirement in the case of a Participant
who is determined to be a Specified Employee at the time of his
Retirement.  During such 6-month delay, a Participant’s Deferral
Account will be credited with Interest at the rate determined under Section
7.  Any payments that would have been paid during such 6-month period
shall be paid in a lump sum to the Participant as of the day after the last day
of such 6-month period, and all other payments following such 6-month period
shall be paid in accordance with the terms of the Plan and the Participant’s
election.

       

      
 

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      
        	
                 
      

              	
                A.

              	
                Distribution
      Alternatives:

              

      

      

      
        	
                1.  

              	
                The
      balance of the Participant’s Deferral Account to be distributed in a
      single lump sum, payable the first day of the first month following the
      month in which Retirement occurs.

              

      

      

      
        	
                2.  

              	
                The
      balance of the Participant’s Deferral Account to be distributed in a
      single lump sum, payable on March 1 of the calendar year following
      Retirement.

              

      

      

      
        	
                3.  

              	
                The
      balance of the Participant’s Deferral Account to be distributed in
      substantially equal installments over a period of 5 years commencing at
      Retirement.

              

      

      

      
        	
                4.  

              	
                The
      balance of the Participant’s Deferral Account to be distributed in
      substantially equal installments over a period of 5 years commencing on
      March 1 of the calendar year following
  Retirement.

              

      

      

      
        	
                5.  

              	
                The
      balance of the Participant’s Deferral Account to be distributed in
      substantially equal installments over a period of 10 years commencing at
      Retirement.

              

      

      

      
        	
                6.  

              	
                The
      balance of the Participant’s Deferral Account to be distributed in
      substantially equal installments over a period of 10 years commencing on
      March 1 of the calendar year following
  Retirement.

              

      

      

      
        	
                7.  

              	
                The
      balance of the Participant’s Deferral Account to be distributed in
      substantially equal installments over a period of 15 years commencing at
      Retirement.

              

      

      

      
        	
                8.  

              	
                The
      balance of the Participant’s Deferral Account to be distributed in
      substantially equal installments over a period of 15 years commencing on
      March 1 of the calendar year following
  Retirement.

              

      

      

      
        	
                 
      

              	
                Installment
      payments (Alternatives 3 through 8) shall be paid annually, unless the
      Participant elects, at the time Alternatives 3 through 8, as applicable,
      are elected, to receive them on a monthly basis.  The
      distribution options available in circumstances where the Participant
      dies, either before or after Retirement, or is placed on disability status
      prior to Retirement are described in Sections 10 and 11.  The
      deferral of payments to the calendar year following Retirement
      (Alternatives 2, 4, 6 and 8) is not permitted in cases of death or
      long-term disability.

              

      

       

      
        	
                 
      

              	
                B.

              	
                Subsequent Election
      Changes:

              

      

      

      
        	
                 
      

              	
                On
      and after January 1, 2009, a Participant may elect to change his method of
      distribution with respect to one or more Deferral Accounts in accordance
      with 

              

      

       

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      
rules
established by the Company.  If a Participant makes such election,
then (a) such election shall not take effect until at least 12 months after
the date on which such election is made, and submitted to the Company; (b) the
first payment with respect to which such election is made shall be deferred for
a period of not less than 5 years from the date such payment would otherwise
have been made; (c) any election related to a payment that was otherwise to be
made at a specified time may not be made less than 12 months prior to the date
of the first scheduled payment; and (d) with respect to a change in payment
form, such change may not impermissibly accelerate the time or schedule of any
payment under the Plan, except as provided in regulations promulgated by the
Secretary of Treasury.

       

      
        	
                 
      

              	
                A
      change in the method of distribution must also be made in accordance with
      the rules and procedures established by the
  Company.

              

      

      

      
        	
                9.  

              	
                TERMINATION OF
      EMPLOYMENT PRIOR TO BECOMING ELIGIBLE FOR
  RETIREMENT

              

      

      

      
        	
                A.  

              	
                General:

              

      

      

      
        	
                 
      

              	
                Except
      as described in Paragraph B, if a Participant terminates employment from
      Ameren after completing one or more Deferral Commitments but prior to
      becoming eligible for Retirement, the balance of the Participant’s
      corresponding Deferral Account(s), including any Deferral Accounts subject
      to a scheduled payment option under Section 10, shall be distributed in a
      single lump sum to the Participant no later than 30 days after the date
      the Participant terminates employment.  The Participant shall
      not have a right to designate the taxable year of the
    payment.

              

      

      

      
        	
                B.  

              	
                Change of
      Control:

              

      

      

      
        	
                 
      

              	
                In
      the event that a Participant terminates employment from Ameren after
      completing one or more Deferral Commitments but prior to becoming eligible
      for Retirement and after the occurrence of a Change of Control, the
      balance of the Participant’s Deferral Account(s), including Interest
      calculated at the Plan Interest Rate, shall be distributed in a single
      lump sum to the Participant no later than 30 days after the date the
      Participant terminates employment.  For purposes of this
      Paragraph, Change of Control shall have the same meaning that it has in
      the Second Amended and Restated Ameren Corporation Change of Control
      Severance Plan, as amended.  The participant shall not have the
      right to designate the taxable year of the
  payment.

              

      

      

      
        	
                 
      

              	
                C.

              	
                Specified Employee
      Restriction:

              

      

      

      
        	
                 
      

              	
                Notwithstanding
      the above, payment of benefits shall not be made under this Section 9
      prior to the date which is 6 months after the date of a Participant’s
      termination of employment in the case of a Participant who is determined
      to be a 

              

      

       

       

      
 

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

      Specified Employee at the time
of his termination of employment.  In such case, the lump sum amount
determined under Section 9.A or 9.B, as appropriate, shall be paid to the
Participant as of the day after the last day of such 6-month period.

       

      
        	
                 
      

              	
                D.

              	
                Termination of
      Employment:

              

      

      

      
        	
                 
      

              	
                For
      purposes of Sections 2.R, 8 and 9, a Participant shall be deemed to have
      terminated employment if Ameren and the Participant reasonably anticipate
      a permanent reduction in his or her level of bona fide services to a level
      less than 50 percent of the average level of bona fide services
      provided by the Participant in the immediately preceding 36-month
      period.  Notwithstanding the preceding sentence, no termination
      of employment shall occur (a) while the Participant is on military leave,
      sick leave, or other bona fide leave-of-absence which does not exceed six
      months or such longer period during which the Participant retains a right
      to reemployment with Ameren pursuant to law or by contract; or (b) while
      the Participant is on a leave-of-absence due to a medically determinable
      physical or mental impairment that can be expected to last for a
      continuous period of six months or more and results in the Participant
      being unable to perform services for Ameren in his or her position or a
      substantially similar position and that does not exceed 29
      months.  A leave of absence will be a bona fide leave-of-absence
      only if there is a reasonable expectation that the Participant will return
      to perform services for Ameren.

              

      

      

      
        	
                10.  

              	
                SCHEDULED PAYMENT
      OPTION

              

      

      

      
        	
                 
      

              	
                At
      the time a Participant makes an election to defer Salary and/or Incentive
      Awards under the Plan, he or she may elect for the distribution of the
      balance of that Deferral Account, to be made in a specified year; provided
      such year is at least three years after the year to which the deferral
      relates.  Distributions pursuant to this scheduled payment
      option shall be paid in a lump sum no later than the December 31st of the
      specified year.

              

      

      

      
        	
                11.  

              	
                TOTAL DISABILITY OF
      PARTICIPANT

              

      

      

      
        	
                 
      

              	
                In
      the event that it is determined by a duly licensed physician selected by
      the Company that, because of ill health, accident or other disability, a
      Participant is no longer able, properly and satisfactorily, to perform his
      regular duties and responsibilities, and therefore, such Participant has
      been placed on long term disability (“LTD”), the Company shall commence
      distribution of the Participant’s Deferral Account(s) in accordance with
      the distribution method selected by the Participant, but only if the
      Participant is disabled within the meaning of Code Section 409A(a)(2)(C).
      Where a Participant had elected a deferral option (Section 8, Alternatives
      2, 4, 6 and 8), payments will be made in the same form as elected (i.e.,
      lump sum or installment) but will commence no later than 30 days after the
      Participant’s LTD effective date, to the extent a distribution is
      permitted under the previous sentence.  The Participant shall
      not have a right to designate the taxable year of the
      payment.  Under this provision, a Participant on
  

              

      

       

       

      
 

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

         

        LTD
status may receive a distribution from his Deferral Account(s) prior to
attaining age 55.

         

      

      
        	
                12.  

              	
                DEATH OF
      PARTICIPANT

              

      

      

      
        	
                A.  

              	
                Prior to
      Retirement:

              

      

      

      
        	
                 
      

              	
                In
      the event of the Participant’s death after attaining at least age 55, the
      Company shall commence distribution of the Participant’s Deferral
      Account(s) to the Participant’s designated beneficiary(ies) according to
      the method(s) selected by the Participant pursuant to Section
      8.  If a Participant dies prior to attaining age 55 and prior to
      receiving benefits under the Plan, the Company shall commence distribution
      to the Participant’s designated beneficiary(ies) in a lump
      sum.  Even if the Participant had chosen a deferral option
      (Section 8, Alternatives 2, 4, 6 and 8), payment will commence as soon as
      administratively feasible but no later than 30 days after the month in
      which the Participant’s death occurs.  Neither the Participant
      nor a beneficiary shall have a right to designate the taxable year of the
      payment.

              

      

      

      
        	
                B.  

              	
                After
      Retirement:

              

      

      

      
        	
                 
      

              	
                In
      the event a Participant dies after his Retirement but prior to receiving
      benefits under the Plan, the Company shall commence distribution of the
      Participant’s Deferral Account(s) to the Participant’s designated
      beneficiary(ies).  Such payments will be made in the same form
      as elected (i.e., lump sum or installment) but will commence as soon as
      administratively feasible, but no later than 30 days after the month in
      which the Participant’s death occurs.  Neither the Participant
      nor a beneficiary shall have a right to designate the taxable year of the
      payment.  Where a Participant who is receiving benefits dies,
      the Company shall continue to make distributions to the Participant’s
      designated beneficiary(ies) in accordance with the method selected by the
      Participant.

              

      

      

      
        	
                13.  

              	
                HARDSHIP
      DISTRIBUTION

              

      

      

      
        	
                 
      

              	
                In
      the event that a Participant (or in the case of the Participant’s death,
      his beneficiary) suffers a Financial Hardship, the Company may, if it
      deems advisable in its sole and absolute discretion, distribute on behalf
      of the Participant, his beneficiary or his legal representative, any
      portion of the Participant’s Deferral Account(s), but in no event more
      than the amount reasonably necessary to relieve the Financial Hardship
      upon which the request is based, plus the federal and state taxes due on
      the withdrawal, as determined by the Company.  Any such hardship
      distribution shall be made at such times as the Company shall determine,
      and the Participant’s Deferral Account(s) shall be reduced by the amount
      so distributed and/or utilized.  Financial Hardship means a
      severe financial hardship to a Participant resulting from an illness or
      accident of the Participant, his or her spouse or a dependent (as defined
      in Code Section 152(a)) of the Participant, loss of
  the

              

      

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

      Participant’s
property due to casualty, or other similar extraordinary and unforeseeable
circumstances arising as a result of events beyond the control of the
Participant.

      
        	
                 

                 
      

                 

              	
                 

                Notwithstanding
      any other provision of this Plan, if a Participant receives a safe harbor
      hardship distribution under any tax-qualified employee retirement plan
      maintained by his or her employer, all deferral elections of the
      Participant under the Plan shall be suspended for a period of at least 6
      months, and the Participant shall not be eligible to resume deferrals
      hereunder until the Plan Year beginning after expiration of such 6-month
      period.

              

      

      

      
        	
                14.  

              	
                DESIGNATION OF
      BENEFICIARY

              

      

      

      
        	
                 
      

              	
                The
      Participant shall designate in writing, on a form approved by the Company,
      one or more primary and/or secondary beneficiaries who shall receive
      distributions otherwise payable to the Participant or as otherwise
      authorized by the Plan, and such beneficiary designation shall be
      controlling with respect to all Deferral Accounts such Participant may
      have pursuant to the provisions of the Plan.  The Participant’s
      spouse, if any, must consent in writing to the designation of a primary
      beneficiary(ies) other than such spouse as the sole primary
      beneficiary.  Subject to the requirement of the preceding
      sentence, the Participant shall have the right, at any time and for any
      reason, to submit a revised designation of beneficiary.  Such
      revised designation of beneficiary shall become effective provided it is
      delivered to the Company prior to the death of such Participant, and it
      shall supersede all prior designations of beneficiary submitted by the
      Participant.  A beneficiary may be a natural person or an entity
      (such as a trust or a charitable
organization).

              

      

      

      
        	
                 
      

              	
                If
      no designation of beneficiary has been received by the Company from the
      Participant prior to his death, or if the beneficiary(ies) designated by
      the Participant has not survived the Participant or cannot otherwise be
      located by the Company within a reasonable period of time, distributions
      shall be made to the person or persons in the first of the following
      classes of successive preference:

              

      

      

      
        	
                1.  

              	
                The
      Participant’s surviving spouse.

              

      

      

      
        	
                2.  

              	
                The
      Participant’s surviving children,
equally.

              

      

      

      
        	
                3.  

              	
                The
      Participant’s surviving parents,
equally.

              

      

      

      
        	
                4.  

              	
                The
      Participant’s surviving brothers and sisters,
  equally.

              

      

      

      
        	
                5.  

              	
                The
      Participant’s personal representative(s), executor(s) or
      administrator(s).

              

      

       

       

      
 

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      
        	
                15.  

              	
                PAYMENTS TO MINORS OR
      INCOMPETENTS

              

      

      

      
        	
                 
      

              	
                Whenever,
      in the Company’s opinion, a person entitled to receive any payment under
      the Plan is a minor, is under a legal or other disability or is so
      incapacitated as to be unable to manage his financial affairs, a
      distribution may be made to such person or to his legal representative or
      to a relative or friend of such person for his benefit, or for the benefit
      of such person in whatever manner the Company considers
      advisable.  Any payment of a benefit in accordance with the
      provisions of this Section shall be a complete discharge of any liability
      for the making of such payment under the provisions of the
      Plan.

              

      

      

      
        	
                16.  

              	
                ADMINISTRATION

              

      

      

      
        	
                 
      

              	
                Except
      as specified otherwise in the Plan, the Company shall have full power and
      discretion to administer, construe and interpret the Plan.  Any
      authorized action or decision under the provisions of the Plan undertaken
      by the Company arising out of, or in connection with the administration,
      construction, interpretation or effect of the Plan, or recommendations in
      accordance therewith, or any rules and regulations adopted by the Company
      shall be conclusive and binding on all Participants and their
      beneficiaries and all other persons
whosoever.

              

      

      

      
        	
                17.  

              	
                MISCELLANEOUS

              

      

      

      
        	
                A.  

              	
                No Trust
      Created:  The arrangements hereunder are unfunded for tax
      purposes and for the purposes of ERISA, Title I. Nothing contained in the
      Plan, and no action taken pursuant to its provisions shall create, or be
      construed to create, a trust, escrow of any kind, or a fiduciary
      relationship between Ameren and the Participant, his designated
      beneficiary(ies), other beneficiaries of the Participant or any other
      person.

              

      

      

      
        	
                B.  

              	
                Unsecured General
      Creditor Status:  Distributions to the Participant or his
      designated beneficiary(ies) or any other beneficiary(ies) hereunder shall
      be made from assets which prior to distribution shall continue, for all
      purposes, to be a part of the general corporate assets and no person
      (including Participants) shall have any interest in such assets of Ameren,
      including without limitation the proceeds of life or other insurance
      policies, by virtue of the provisions of the Plan.  To the
      extent that any person, including the Participant, acquires a right to
      receive distributions under the provisions hereof, such right shall be no
      greater than the right of any unsecured general creditor of
      Ameren  and the obligation to pay constitutes a mere promise of
      Ameren to make payments in the
future.

              

      

      

      
        	
                C.  

              	
                Recovery of
      Costs:  In the event that the Company purchases an
      insurance policy or policies insuring the life of a Participant or any
      other property to allow Ameren to recover the costs of providing deferred
      compensation in whole or in part, hereunder, neither the Participant, his
      beneficiary(ies) nor any other person or persons shall have any rights
      therein whatsoever. Ameren shall be the sole owner
  

              

      

       

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

       

      and beneficiary of any such
insurance policy and shall possess and may exercise all incidents of ownership
therein.

       

      
        	
                D.  

              	
                Protective
      Provisions:  A Participant shall cooperate with the
      Company by providing all information requested including a medical
      history.  In connection therewith, the Company reserves the
      right to require that the Participant submit to a physical examination if
      such examination is deemed to be necessary or appropriate.  The
      costs of all such physical examinations will be paid by the
      Company.  If the Participant refuses to cooperate with the
      Company, the Company shall have no further obligation to the Participant
      under the provisions of the Plan.  If the Participant makes any
      material misstatement of information or non-disclosure of medical history,
      then no benefits shall be payable to the Participant or his
      beneficiary(ies) over and above actual Salary and Incentive Award
      deferrals.

              

      

      

      
        	
                E.  

              	
                No Contract of
      Employment:  Nothing contained herein shall be construed
      to be a contract of employment for any term of years, nor a conferring
      upon the Participant the right to continue to be employed in his present
      capacity, or in any capacity.  It is expressly understood that
      the Plan relates to the payment of deferred compensation for the
      Participant’s services normally distributable after termination of his
      employment, and the Plan is not in any way intended to be an employment
      contract.

              

      

      

      
        	
                F.  

              	
                Spendthrift
      Provisions:  Neither the Participant, his
      beneficiary(ies), nor any other person or persons shall have any power or
      right to sell, alienate, attach, garnish, transfer, assign, anticipate,
      pledge or otherwise encumber any part or all of a Deferral Account
      maintained or distributable hereunder. No amounts hereunder shall be
      subject to seizure by any creditor of the Participant or a beneficiary,
      beneficiary(ies) or any other person or persons by a proceeding at law or
      in equity, nor shall such amounts be transferable by operation of law in
      the event of divorce, legal separation, bankruptcy, insolvency or death of
      the Participant, his beneficiary(ies), or any other person or
      persons.  Any such attempted assignment or transfer shall be
      null and void.

              

      

      

      
        	
                G.  

              	
                Withholding
      Taxes:  To the extent required by the law in effect at
      the time that deferrals are made hereunder, the Company shall withhold
      from non-deferred compensation the payroll taxes required to be withheld
      by the federal or any state or local
government.

              

      

      

      
        	
                H.  

              	
                Suspension,
      Termination and Amendment:  The Board of Directors of
      Ameren Corporation shall have the power to suspend or terminate the Plan
      in whole or in part at any time, and from time-to-time to extend, modify,
      amend or revise the Plan in such respects as the Board of Directors by
      resolution may deem advisable, provided that (1) no such extension,
      modification, amendment or revision shall deprive a Participant, or any
      beneficiary(ies) thereof, of any part or all of the Participant’s Deferral
      Account and (2) no attempt to terminate the Plan shall be
  

              

      

       

       

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

      effective
unless such termination complies with the restrictions and requirements
applicable under Code Section 409A and the regulations promulgated thereunder in
effect at the time of such termination.

       

      
        	
                I.  

              	
                Conflicts:  Any
      conflict in the language or terms or interpretation of the language or
      terms of the Plan between this Plan document and any other document which
      purports to describe the rights, benefits, duties or obligations of any
      Participant, Ameren or any other person or entity shall be resolved in
      favor of this Plan document.

              

      

      

      
        	
                J.  

              	
                Validity:  In
      the event any provision of the Plan is held invalid, void, or
      unenforceable, the same shall not affect, in any respect whatsoever, the
      validity of any other provision of the
Plan.

              

      

      

      
        	
                K.  

              	
                Captions:  The
      captions of the articles and sections of the Plan are for convenience only
      and shall not control nor affect the meaning or construction of any of its
      provisions.

              

      

      

      
        	
                L.  

              	
                Gender and
      Plurals:  Wherever used in the Plan, words in the
      masculine gender shall include masculine or feminine gender, and, unless
      the context otherwise requires, words in the singular shall include the
      plural, and words in the plural shall include the
  singular.

              

      

      

      
        	
                M.  

              	
                Notice:  Any
      election, beneficiary designation, notice, consent or demand required or
      permitted to be given under the provisions of the Plan shall be in writing
      and shall be signed by the Participant.  If such election,
      beneficiary designation, notice, consent or demand is mailed by a
      Participant, it shall be sent by United States Certified Mail, postage
      prepaid, and addressed to the chief human resources officer, Ameren
      Services Company, P. O. Box 66149, St. Louis, Missouri
      63166-6149. The date of such mailing shall be deemed to be the date of
      such notice, consent or demand.

              

      

      

      
        	
                N.  

              	
                Governing
      Law:  The Plan, and the rights of the parties hereunder,
      shall be governed by and construed in accordance with the laws of the
      State of Missouri.

              

      

      

      
        	
                O.  

              	
                Disputes:  A
      Participant who believes that he is being denied a benefit to which he is
      entitled (hereinafter referred to as “Claimant”), or his representative,
      may file a written request for such benefit with the Plan Administrator of
      the Plan setting forth his claim.  The request must be addressed
      to:  Ameren Services Company, Employee Benefits Department, P.O.
      Box 66149, MC 533, St. Louis, Missouri 63166-6149, Attention: Plan
      Administrator, Deferred Compensation
Plan.

              

      

      

      Upon
receipt of a claim, the Company shall advise the Claimant that a reply will be
forthcoming within 90 days and shall in fact deliver such reply within such
period.  However, the Company may extend the reply period for an
additional 90 days for reasonable cause.  If the claim is denied
in whole or in part, the 

       

       

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

       

      Company
will adopt a written opinion using language calculated to be understood by the
Claimant setting forth:

      

      
        	
                 
      

              	
                1.

              	
                the
      specific reason or reasons for
denial,

              

      

      
        	
                 
      

              	
                2.

              	
                specific
      references to pertinent Plan provisions on which the denial is
      based,

              

      

      
        	
                 
      

              	
                3.

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

              

      

      
        	
                 
      

              	
                4.

              	
                appropriate
      information as to the steps to be taken if the Claimant wishes to submit
      the claim for review, including a statement of the Claimant’s right to
      bring a civil action following an adverse benefit determination on review,
      and

              

      

      
        	
                 
      

              	
                5.

              	
                the
      time limits for requesting a review and for the actual
    review.

              

      

      

      Within 60
days after the receipt by the Claimant of the written opinion described above,
the Claimant may request in writing that the Company review its
determination.  The Claimant or his duly authorized representative may
submit written comments, documents, records or other information relating to the
denied claim, which shall be considered in the review under this subsection
without regard to whether such information was submitted or considered in the
initial benefit determination.  The Claimant or his duly authorized
representative shall be provided, upon request and free of charge, reasonable
access to, and copies of, all documents, records and other information relevant
to his claim.  If the Claimant does not request a review of the
Company’s determination within such 60-day period, he shall be barred and
estopped from challenging its determination.

      

      Within 60
days after the Company’s receipt of a request for review, it will review its
prior determination.  After considering all materials presented by the
Claimant, the Company will render a written opinion setting forth the specific
reasons for his decision and containing specific references to the pertinent
Plan provisions on which his decision is based.  If special
circumstances require that the 60-day period be extended, the Company will so
notify the Claimant and will render the decision as soon as possible but not
later than 120 days after receipt of the request for review.  If the
Company makes an adverse benefit determination on review, the Company will
render a written opinion using language calculated to be understood by the
Claimant setting forth:

      

      
        	
                 
      

              	
                1.

              	
                the
      specific reason or reasons for
denial,

              

      

      
        	
                 
      

              	
                2.

              	
                specific
      references to pertinent Plan provisions on which the denial is
      based,

              

      

      
        	
                 
      

              	
                3.

              	
                a
      statement that the Claimant is entitled to receive, upon request and free
      of charge, reasonable access to, and copies of, all documents, records and
      other information relevant to his claim,
and

              

      

       

       

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

       

      
        	
                 
      

              	
                4.

              	
                a
      statement of the Claimant’s right to bring a civil action following an
      adverse benefit determination on
review.

              

      

       

      

      
        P.    
Interpretation of
Plan:  All provisions of this Plan shall be interpreted in a
manner so as to be consistent with Section 409A of the Code and the regulations
issued thereunder.

      

      

      IN WITNESS WHEREOF, the foregoing
restatement was adopted on the 12th day of October, 2009.

       

      
        AMEREN SERVICES COMPANY

         

        On behalf of AMEREN
CORPORATION

         

        By:    /s/ Mark
C.
Lindgren                  
     

         

        Name:    Mark C.
Lindgren                  
      

         

        Title:      Vice
President, Corporate HR    

         

         

        16

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