Document:

Exhibit 10.1 Ball Corporation 2005 Deferred Compensation Plan

    

      Exhibit 10.1

      

      

      

      

      

      

      

      

      

      

      

      

       

      

       

      Ball
        Corporation

       

      2005
        Deferred Compensation Plan

       

      

      Effective
        January 1, 2005

       

      

      

      

      
        
          
            

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
            Ball
              Corporation 2005 Deferred Compensation Plan For
              Directors

          

        

      

      

        
          	
                  Article I

                	 
	
                  Establishment
                    and Purpose

                	
                  1

                
	 	 
	
                  Article II

                	 
	
                  Definitions

                	
                  1

                
	 	 
	
                  Article III

                	 
	
                  Eligibility
                    and Participation

                	
                  9

                
	 	 
	
                  Article IV

                	 
	
                  Deferral
                    Elections

                	
                  10

                
	 	 
	
                  Article V

                	 
	
                  Modification
                    to Payment Schedules

                	
                  13

                
	 	 
	
                  Article VI

                	 
	
                  Company
                    Awards

                	
                  14

                
	 	 
	
                  Article VII

                	 
	
                  Valuation
                    of Account Balances; Investments

                	
                  15

                
	 	 
	
                  Article VIII

                	 
	
                  Distributions
                    and Withdrawals

                	
                  16

                
	 	 
	
                  Article IX

                	 
	
                  Administration

                	
                  18

                
	 	 
	
                  Article X

                	 
	
                  Amendment
                    and Termination

                	
                  20

                
	 	 
	
                  Article XI

                	 
	
                  Informal
                    Funding

                	
                  22

                
	 	 
	
                  Article XII

                	 
	
                  Claims

                	
                  22

                
	 	 
	
                  Article XIII

                	 
	
                  General
                    Conditions

                	
                  25

                

        

       

      
        
          
            

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
            Ball
              Corporation 2005 Deferred Compensation Plan For Directors

            

            

          

        

      

      Article I

      Establishment
        and Purpose

      

      Ball
        Corporation (the “Company”) has maintained and will continue to maintain the
        Ball Corporation 2001 Deferred Compensation Plan and predecessor deferred
        compensation plans (the “Grandfathered Plans”).

      

      The
        Company hereby adopts the Ball Corporation 2005 Deferred Compensation Plan,
        restated as of April 26, 2006 (the “Plan”). The purpose of the Plan
        continues to be to attract and retain key Employees by providing such Employees
        the opportunity to defer the cash portion of their annual incentive awards
        and
        other cash compensation specified by the Human Resources Committee (the “HR
        Committee”) of the Board of Directors.

      

      In
        December, 2005, the Company adopted an interim document in response to proposed
        Treasury regulations published on October 4, 2005, that required the
        Company to adopt written amendments prior to December 31, 2005, with
        respect to items of transition relief described in Notice 2005-1 and that
        expired on December 31, 2005. The interim document was intended to satisfy
        the amendment requirements of the proposed regulations without the amendment
        constituting a “material modification” to the Grandfathered Plans, but subject
        to restatement in 2006 to reflect the requirements of Code Section 409A.
        Accordingly, the Company adopts this Plan document, as of the date set forth
        on
        the signature page below and effective as of the Effective Date, to comply
        with
        the requirements of Code Section 409A.

      

      The
        Plan
        is intended to be an unfunded arrangement providing deferred compensation
        to
        eligible employees who are part of a select group of management or highly
        compensated employees of the Company within the meaning of Sections 201(2),
        301(a)(3) and 401(a)(1) of ERISA.

      

      

      Article II

      Definitions

      

      
        	
                2.1

              	
                Account.
                  Account means a bookkeeping account maintained by the Plan Administrator
                  to record the Company’s payment obligation to a Participant as determined
                  under the terms of the Plan. The Plan Administrator may maintain
                  an
                  Account to record the total obligation to a Participant and component
                  Accounts to reflect amounts payable at different times and in different
                  forms pursuant to the terms of a Participant’s Deferral Election. Without
                  limiting the Plan Administrator’s authority to establish Accounts as it
                  deems necessary, Accounts may include, for each Participant,
                  (i) Separation Accounts, (ii) Specified Date Accounts, and/or
                  (iii) any Retirement Restoration Account. Reference to an Account
                  means any such Account established by the Plan Administrator, as
                  the
                  context requires. Accounts are intended to constitute unfunded
                  obligations
                  of the Company within the meaning of Sections 201(2), 301(a)(3) and
                  401(a)(1) of ERISA.

              

      

      

      
        
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            Corporation 2005 Deferred Compensation Plan

          

          

        

      

      
        	 	
                Accounts
                  under this Plan shall reflect only those amounts considered to
                  be
                  Deferrals as defined in this Plan. The provisions of this Plan
                  shall apply
                  only to such Accounts and shall not apply to any Grandfathered
                  Plan
                  accounts.

              

      

      

      
        	
                2.2

              	
                Account
                  Balance.
                  Account Balance means, with respect to any Account, the total amount
                  of
                  the Company’s payment obligation from such Account as of the most recent
                  Valuation Date.

              

      

      

      
        	
                2.3

              	
                Affiliate.
                  Affiliate means a corporation, trade or business that, together
                  with the
                  Company, is treated as a single employer under Code Section 414(b) or
                  (c).

              

      

      

      
        	
                2.4

              	
                Beneficiary.
                  Beneficiary means a natural person, estate, or trust designated
                  by a
                  Participant to receive benefits to which a Beneficiary is entitled
                  in
                  accordance with provisions of the Plan. The Participant’s spouse, if
                  living, otherwise the Participant’s estate, shall be the Beneficiary
                  if:

              

      

      

      
        	 	
                (a)

              	
                the
                  Participant has not designated a natural person or trust as Beneficiary,
                  or

              

      

      

      
        	 	
                (b)

              	
                all
                  designated Beneficiaries have predeceased the
                  Participant.

              

      

      

      
        	 	
                A
                  former spouse shall have no interest under the Plan, as Beneficiary
                  or
                  otherwise, unless (i) the Participant designates such person as a
                  Beneficiary after dissolution of the marriage or (ii) such interest
                  is ordered under a domestic relations order described in
                  Section 8.9.

              

      

      

      
        	
                2.5

              	
                Business
                  Day.
                  A
                  Business Day is each day on which the New York Stock Exchange is open
                  for business.

              

      

      

      
        	
                2.6

              	
                Change
                  in Control.
                  Change in Control occurs on the date on which there is (i) a change
                  in the ownership of the Company, (ii) a change in the effective
                  control of the Company or (iii) a change in the ownership of a
                  substantial portion of the Company’s assets. For purposes of this Section,
                  a change in ownership of the Company occurs on the date on which
                  any one
                  person or more than one person acting as a group acquires ownership
                  of
                  stock of the Company that, together with stock held by such person
                  or
                  group constitutes more than 50% of the total fair market value
                  or total
                  voting power of the stock of the Company. A change in the effective
                  control of the Company occurs on the date on which either (i) a
                  person or more than one person acting as a group acquires ownership
                  of
                  stock of the Company possessing 35% or more of the total voting
                  power of
                  the stock of the Company or (ii) a majority of members of the
                  Company’s Board of Directors is replaced during any twelve (12)-month
                  period by directors whose appointment or election is not endorsed
                  by a
                  majority of the members of the Company’s Board of Directors prior to the
                  date of the appointment or election. A change in the ownership
                  of a
                  substantial portion of assets occurs on the date on which any one
                  person
                  or more than one person acting as a group acquires assets from
                  the Company
                  that have a total gross fair market value equal to or more than
                  40% of the
                  total gross fair market value of all of the assets of the Company
                  immediately prior to such acquisition or
                  acquisitions.

              

      

      
        
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            Corporation 2005 Deferred Compensation Plan

          

          

        

      

      

      
        	 	
                Reference
                  to the Company under this Section 2.6 also shall mean Affiliates for
                  whom a Participant is providing services at the time of a Change
                  in
                  Control affecting such Affiliate.

              

      

      

      
        	 	
                The
                  determination as to the occurrence of a Change in Control shall
                  be based
                  on objective facts and in accordance with the requirements of Code
                  Section 409A.

              

      

      

      
        	
                2.7

              	
                Claimant.
                  Claimant means a Participant or Beneficiary filing a claim under
                  Article XII of this Plan.

              

      

      

      
        	
                2.8

              	
                Code.
                  Code means the Internal Revenue Code of 1986, as amended from time
                  to
                  time.

              

      

      

      
        	
                2.9

              	
                Code
                  Section 409A.
                  Code Section 409A means Section 409A of the Code, and the regulations
                  and
                  other guidance issued by the Treasury Department and Internal Revenue
                  Service thereunder.

              

      

      

      
        	
                2.10

              	
                Company.
                  Company means Ball Corporation.

              

      

      

      
        	
                2.11

              	
                Company
                  Award.
                  Company Award means a credit by the Company to a Participant’s Account(s)
                  in accordance with the provisions of Article VI of the Plan. Except
                  as otherwise provided in Article VI, Company Awards are credited at
                  the sole discretion of the Company and the fact that a Company
                  Award is
                  credited in one year shall not obligate the Company to continue
                  to make
                  such Company Award in subsequent
                  years.

              

      

      

      
        	
                2.12

              	
                Compensation.
                  Compensation means a Participant’s annual incentive awards. Compensation
                  may also include such other cash or equity-based compensation,
                  (if any)
                  that is determined by the HR Committee of the Board of Directors,
                  in its
                  sole discretion, as eligible for deferral under the terms of this
                  Plan.
                  Compensation shall not include any compensation that has been previously
                  deferred under this Plan or any other arrangement subject to Code
                  Section 409A, or accounts maintained under the Grandfathered
                  Plans.

              

      

      

      
        	
                2.13

              	
                Death
                  Benefit.
                  Death Benefit means payment to a Participant’s Beneficiary(ies) due to the
                  death of the Participant. Death Benefits will be paid in accordance
                  with
                  Section 8.4.

              

      

      

      
        	
                2.14

              	
                Deferral.
                  Deferral means the credits to a Participant’s Accounts attributable to
                  deferrals of Compensation described in Prop. Treas. Reg.
                  Section 1.409A-1(b)(1) and Earnings on such amounts as provided in
                  Prop. Treas. Reg. Section 1.409A-1(b)(2), except where the context of
                  the Plan clearly indicates
                  otherwise.

              

      

      

      
        	
                2.15

              	
                Deferral
                  Election.
                  Deferral Election means an agreement between a Participant and
                  the Company
                  specifying any or all of the following: (i) the amount of each
                  component of Compensation subject to the Deferral Election;
                  (ii) investment allocation described in Section 7.2; and
                  (iii) Payment Schedule. The Plan Administrator may permit different
                  deferral amounts for each component of Compensation and may establish a
                  minimum or maximum deferral amount for each such
                  component.

              

      

      
        
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            Corporation 2005 Deferred Compensation Plan

          

          

        

      

      

      
        	 	
                A
                  Deferral Election must be submitted to the Company in accordance
                  with the
                  Plan and under procedures established by the Plan Administrator
                  from time
                  to time. A Deferral Election may be modified by a subsequent investment
                  reallocation described in Section 7.2, or payment modification
                  described in Article V submitted to the Company in accordance with
                  the terms of this Plan and procedures adopted by the Plan
                  Administrator.

              

      

      

      
        	 	
                The
                  Plan Administrator may reduce a Participant’s Deferral Election as
                  necessary to permit sufficient non-deferred Compensation from which
                  the
                  Company may satisfy a Participant’s obligations regarding welfare plans
                  and from which to satisfy tax withholding obligations, and/or to
                  conform
                  the Deferral Election and the Plan to applicable
                  law.

              

      

      

      
        	
                2.16

              	
                Disability.
                  Disability means disability under the Company’s long-term disability
                  programs for Eligible Employees.

              

      

      

      
        	
                2.17

              	
                Earnings.
                  Earnings means an adjustment to the value of an Account in accordance
                  with
                  Article VII.

              

      

      

      
        	
                2.18

              	
                Effective
                  Date.
                  Effective Date means January 1, 2005, with respect to Compensation
                  “deferred” on or after such date. Deferrals of Compensation that was
                  earned and vested as of December 31, 2004, and credited to a
                  Participant’s account under the Ball Corporation 2001 Deferred
                  Compensation Plan shall not be subject to this Plan, even if such
                  deferrals were credited after December 31,
                  2004.

              

      

      

      
        	
                2.19

              	
                Eligible
                  Employee.
                  Eligible Employee means a member of a “select group of management or
                  highly compensated employees” of the Company or an Affiliate within the
                  meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA, as
                  determined by the HR Committee of the Board of Directors (or the
                  Plan
                  Administrator, if such authority is delegated by the HR Committee)
                  from
                  time to time in its sole
                  discretion.

              

      

      

      
        	
                2.20

              	
                Employee.
                  Employee means an employee of the Company and any former employee
                  who
                  continues to provide services to the Company pursuant to Prop.
                  Treas. Reg.
                  Section 1.409A-1(h)(1)(ii).

              

      

      

      
        	
                2.21

              	
                ERISA.
                  ERISA means the Employee Retirement Income Security Act of 1974,
                  as
                  amended from time to time.

              

      

      

      
        	
                2.22

              	
                Participant.
                  Participant means an Eligible Employee who has received notification
                  of
                  his or her eligibility to defer Compensation under the Plan under
                  Section 3.1 and any other person with an Account Balance greater than
                  zero, regardless of whether such individual continues to be an
                  Eligible
                  Employee of the Company. A Participant’s continued participation in the
                  Plan shall be governed by Section 3.2 and Section 3.3 of the
                  Plan.

              

      

      

      
        	
                2.23

              	
                Payment
                  Schedule.
                  Payment Schedule means the date as of which payment under the Plan
                  will
                  commence and the form in which such payment will be
                  made.

              

      

      
        
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            Corporation 2005 Deferred Compensation Plan

          

          

        

      

      

      
        	 	
                (a)

              	
                Separation
                  Payments. A
                  Participant may elect a Deferral Election that establishes a Separation
                  Account the number of years following Separation from Service when
                  payment
                  will be made from the Account (e.g., “Third year following Separation from
                  Service”). Subject to the payment rules set forth below, payment under
                  such an election will be made on or after January 1 of the specified
                  year. If no payment year is specified, payment will be made in
                  the year
                  following the year in which the Participant’s Separation from Service
                  occurs.

              

      

      

      
        	 	 	
                The
                  following rules apply to any Payment Schedule commencing in the
                  year
                  following the year in which a Participant’s Separation from Service
                  occurs. If the Separation from Service occurs prior to July 1,
                  payment will be made on or after January 1 of the following year. If
                  the Separation from Service occurs on or after July 1, payment will
                  be made on or after July 1 of the following year. Payments delayed to
                  a date later than the dates specified in the preceding sentence
                  pursuant
                  to the provisions of Sections 8.6 and 8.10 will be treated as
                  payments made as of such specified
                  dates.

              

      

      

      
        	 	 	
                Payment
                  will be made in a single lump sum unless the Participant specifies
                  an
                  alternative form of payment in the Deferral Election establishing
                  a
                  Separation Account. Alternative forms of payment include (i) a lump
                  sum payment between 0% and 100% of the Account Balance and (ii) any
                  remaining Account Balance payable in a series of substantially
                  equal
                  annual installments from two (2) to fifteen (15) years. For purposes
                  of
                  Article V, (i) each lump sum payment and (ii) each series
                  of substantially equal installments will be treated as separate
                  forms of
                  payment and any series of substantially equal annual installments
                  will be
                  treated as a single form of payment. If a partial lump sum is paid,
                  and
                  unless the Participant specifies an alternative commencement date
                  for the
                  installment payments or modifies the installments pursuant to
                  Article V, the payment commencement date for the installments will be
                  the first anniversary of the lump sum payment commencement
                  date.

              

      

      

      
        	 	 	
                Notwithstanding
                  the foregoing, if a Participant Separates from Service prior to
                  attaining
                  age 55, he or she will receive all Account Balances in a single
                  lump sum,
                  commencing in the year following the year in which the Separation
                  from
                  Service occurs. Participants may not file an election under Article V
                  to modify the time or form of a payment described in this
                  paragraph.

              

      

      

      
        	 	
                (b)

              	
                Specified
                  Date Payments. Payment
                  from a Participant’s Specified Date Account will be made on or after
                  January 1 of the year specified under the elections described in
                  Section 4.5.

              

      

      

      
        	 	 	
                Payment
                  will be made in a single lump sum unless the Participant specifies
                  an
                  alternative form of payment in his first Deferral Election. Alternative
                  forms of payment include (i) a lump sum payment between 0% and 100%
                  of the Account Balance and (ii) any remaining Account Balance payable
                  in a series of 

              

      

      
        
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            Corporation 2005 Deferred Compensation Plan

          

          

        

      

      
        	 	 	
                substantially
                  equal annual installments from two (2) to fifteen (15) years. For
                  purposes
                  of Article V, (i) each lump sum payment and (ii) each
                  series of substantially equal installments elected by the Participant
                  will
                  be treated as separate forms of payment and any series of substantially
                  equal installments will be treated as a single form of payment.
                  If a
                  partial lump sum is paid, and unless the Participant specifies
                  an
                  alternative commencement date for the installment payments or modifies
                  the
                  installments pursuant to Article V, the payment commencement date for
                  the installments will be the first anniversary of the lump sum
                  payment
                  commencement date.

              

      

      

      
        	 	 	
                Notwithstanding
                  the foregoing, if a Participant Separates from Service prior to
                  attaining
                  age 55, all unpaid Specified Date Accounts will be paid in a single
                  lump
                  sum commencing in the year following the year in which the Separation
                  from
                  Service occurs. Participants may not file an election under Article V
                  to modify the time or form of a payment described in this
                  paragraph.

              

      

      

      
        	 	
                (c)

              	
                Death
                  Payments.
                  Payment will be made from all Accounts according to the Payment
                  Schedule
                  in effect for each such Account, except that the commencement date
                  under
                  such Payment Schedules on or after January 1 of the year following
                  the year in which the Participant’s death
                  occurs.

              

      

      

      
        	 	
                (d)

              	
                Retirement
                  Restoration Benefit.
                  A
                  Participant entitled to a Retirement Restoration Benefit will receive
                  a
                  single lump sum payment on or after January 1 of the year following
                  the year in which occurs the earliest of (i) the date a Participant
                  attains age 65, (ii) Unforeseeable Emergency (iii) death or
                  (iv) Separation from Service.

              

      

      

      
        	
                2.24

              	
                Performance-Based
                  Compensation.
                  Performance-Based Compensation means Compensation where the amount
                  of, or
                  entitlement to, the Compensation is contingent on the satisfaction
                  of
                  preestablished organizational or individual performance criteria
                  relating
                  to a performance period of at least twelve (12) consecutive months
                  in
                  which the Participant performs services for the Company. Organizational
                  or
                  individual performance criteria are considered preestablished if
                  established not later than ninety (90) days after the commencement
                  of the
                  period of service to which the criteria relate, provided that the
                  outcome
                  is substantially uncertain at the time the criteria are established.
                  Performance-Based Compensation may include payments based on performance
                  criteria that are not approved by the Board of Directors, a committee
                  of
                  the Board or by the stockholders of the Company. Performance-Based
                  Compensation does not include any amount or portion of any amount
                  that
                  will be paid either regardless of performance, or based upon a
                  level of
                  performance that is substantially certain to be met at the time
                  the
                  criteria is established. Performance criteria may be subjective
                  but must
                  relate to the performance of the Participant, a group of Employees
                  that
                  includes the Participant or a business unit (which may include
                  the
                  Company) for which the Participant provides services. The determination
                  that any subjective performance criteria have been met shall not
                  be made
                  by the Participant or by a family member of the Participant, or
                  by a
                  person under the supervision of the Participant or a Participant’s family
                  members where 

              

      

      
        
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            Corporation 2005 Deferred Compensation Plan

          

          

        

      

      
        	 	
                any
                  amount of the compensation of such person is controlled in whole
                  or in
                  part by the Participant or such family member. Compensation based
                  on
                  Company stock performance may constitute Performance-Based Compensation
                  if
                  it is based solely on an increase in the value of such stock after
                  the
                  date of grant or award. The determination of whether Compensation
                  qualifies as “Performance-Based Compensation” will be made in accordance
                  with Prop. Treas. Reg. Section 1.409A-1(e) and subsequent
                  guidance.

              

      

      

      
        	
                2.25

              	
                Plan.
                  Plan means the Ball Corporation 2005 Deferred Compensation Plan,
                  as
                  amended from time to time.

              

      

      

      
        	
                2.26

              	
                Plan
                  Administrator.
                  Plan Administrator means the Deferred Compensation Committee of
                  the
                  Company, acting pursuant to the powers and authority granted under
                  Section 9.1 of the Plan.

              

      

      

      
        	
                2.27

              	
                Plan
                  Year.
                  Plan Year means January 1 through
                  December 31.

              

      

      

      
        	
                2.28

              	
                Retirement
                  Restoration Account.
                  Retirement Restoration Account means the Account established to
                  record the
                  Restoration Contribution specified in Section 6.3 and to pay the
                  Retirement Restoration Benefit.

              

      

      

      
        	
                2.29

              	
                Retirement
                  Restoration Benefit.
                  Retirement Restoration Benefit means the benefit payable under
                  Section 8.3.

              

      

      

      
        	
                2.30

              	
                Separation
                  Account.
                  Separation Account means an Account established under a Deferral
                  Election,
                  as described in Section 4.4 to record an amount payable to a
                  Participant due to his or her Separation from Service and the year
                  in
                  which payment from such Separation Account will be made. A Participant
                  may
                  establish and maintain at any one time no more than the maximum
                  number of
                  Separation Accounts specified by the Plan
                  Administrator.

              

      

      

      
        	
                2.31

              	
                Separation
                  from Service.
                  An Employee incurs a Separation from Service upon termination of
                  employment with the Company. The occurrence of a Separation from
                  Service
                  is determined by the Plan Administrator under the facts and circumstances
                  and in accordance with Code
                  Section 409A.

              

      

      

      
        	 	
                (a)

              	
                Leaves
                  of Absence.
                  A
                  Participant remains an Employee during military leave, sick leave,
                  or
                  other bona
                  fide
                  leave of absence (such as temporary employment by the government)
                  if the
                  period of such leave does not exceed six (6) months or such longer
                  period
                  as is provided either by statute or by contract. If the period
                  of leave
                  exceeds six (6) months and the Participant’s right to reemployment after
                  such extended leave is not provided either by statute or by contract,
                  the
                  employment relationship is deemed to terminate on the first day
                  immediately following such six(6)-month period. In this regard,
                  a
                  Participant who is an Eligible Employee at the time he or she is
                  placed on
                  disability leave of absence in accordance with the Company’s policies and
                  procedures shall continue to be an Employee and shall not incur
                  a
                  Separation from Service until the earlier of

              

      

      
        
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            Corporation 2005 Deferred Compensation Plan

          

          

        

      

      
        	 	 	
                (i) termination
                  of employment, (ii) attainment of age 65, or (iii) the
                  Participant’s death.

              

      

      

      
        	 	
                (b)

              	
                Continuing
                  Services Post-Employment. A
                  former Employee shall not be considered to have terminated employment
                  if
                  he or she continues to provide more than “insignificant services” as
                  defined in Prop. Treas. Reg. Section
                  1.409A-1(h)(ii).

              

      

      

      
        	 	
                (c)

              	
                Sale
                  of Assets. A
                  Separation from Service shall not include a termination of employment
                  provided under the terms of a sale of assets of the Company or
                  an
                  Affiliate if (i) the purchaser hires the Participant as an employee
                  or other service provider upon the closing of the transaction and
                  (ii) the purchaser assumes the liability under the Plan for payment
                  of such Participant’s Accounts.

              

      

      

      
        	
                2.32

              	
                Specified
                  Date Account.
                  Specified Date Account means an Account established under a Deferral
                  Election, as described in Section 4.5 to record an amount payable to
                  a Participant in a year specified in such Deferral Election according
                  to
                  the Payment Schedule in effect for such Account. A Participant
                  may
                  establish and maintain at any one time no more than the maximum
                  number of
                  Separation Accounts specified by the Plan
                  Administrator.

              

      

      

      
        	
                2.33

              	
                Substantial
                  Risk of Forfeiture.
                  Substantial Risk of Forfeiture shall have the meaning specified
                  in Prop.
                  Treas. Reg.
                  Section 1.409A-1(d).

              

      

      

      
        	
                2.34

              	
                Target
                  Total Annual Compensation.
                  Target Total Annual Compensation means, for purposes of determining
                  the
                  contribution to a Participant’s Retirement Restoration Account, the total
                  as of the last date prior to salary continuance of (i) the
                  Participant’s annualized salary for the calendar year, plus (ii) the
                  Participant’s target annual incentive award under the Ball Corporation
                  Economic Value Added Incentive Compensation Plan, or any successor
                  plan.

              

      

      

      
        	
                2.35

              	
                Unforeseeable
                  Emergency.
                  An Unforeseeable Emergency is a severe financial hardship of the
                  Participant or Beneficiary resulting from an illness or accident
                  of the
                  Participant or Beneficiary, the Participant’s or Beneficiary’s spouse, or
                  the Participant’s or Beneficiary’s dependent (as defined in Code
                  Section 152(a)); loss of the Participant’s or Beneficiary’s property
                  due to casualty (including the need to rebuild a home following
                  damage to
                  a home not otherwise covered by insurance, for example, not as
                  a result of
                  a natural disaster); or other similar extraordinary and unforeseeable
                  circumstances arising as a result of events beyond the control
                  of the
                  Participant or Beneficiary. For example, the imminent foreclosure
                  of or
                  eviction from the Participant’s or Beneficiary’s primary residence may
                  constitute an Unforeseeable Emergency. In addition, the need to
                  pay for
                  medical expenses, including nonrefundable deductibles, as well
                  as for the
                  costs of prescription drug medication, may constitute an Unforeseeable
                  Emergency. Finally, the need to pay for the funeral expenses of
                  a spouse
                  or a dependent (as defined in Code Section 152(a)) may also
                  constitute an Unforeseeable Emergency. Except as otherwise provided
                  in
                  this Section, the purchase of a home and the payment of college
                  tuition
                  are 

              

      

      
        
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                not
                  Unforeseeable Emergencies. Whether a Participant or Beneficiary
                  is faced
                  with an Unforeseeable Emergency permitting a distribution under
                  Section 8.5 of the Plan is to be determined by the Plan Administrator
                  based on the relevant facts and circumstances of each case, but,
                  in any
                  case, a distribution on account of Unforeseeable Emergency may
                  not be made
                  to the extent that such emergency is or may be reimbursed through
                  insurance or otherwise, by liquidation of the Participant’s assets, to the
                  extent the liquidation of such assets would not cause severe financial
                  hardship, or by cessation of deferrals under this
                  Plan.

              

      

      

      
        	
                2.36

              	
                Valuation
                  Date.
                  Valuation Date shall mean each Business Day selected by the Plan
                  Administrator, in its discretion, for determining the value of
                  Accounts.

              

      

      

      

      Article III

      Eligibility
        and Participation

      

      
        	
                3.1

              	
                Eligibility
                  and Participation.
                  An Eligible Employee becomes eligible to file a Deferral Election
                  upon
                  receipt of notification of eligibility from the Plan Administrator.
                  Such
                  Eligible Employee becomes a Participant upon the earlier to occur
                  of
                  (i) a credit of Company Awards under Article VI or
                  (ii) filing his or her initial Deferral Election in accordance with
                  Article IV.

              

      

      

      
        	
                3.2

              	
                Duration.
                  A
                  Participant shall be eligible to defer Compensation and receive
                  allocations of Company Awards, subject to the terms of the Plan,
                  for as
                  long as such Participant is an Eligible Employee. A Participant
                  who is no
                  longer an Eligible Employee but continues to be employed by the
                  Company
                  may not defer Compensation but may otherwise exercise all of the
                  rights of
                  a Participant under the Plan with respect to his or her Accounts.
                  On and
                  after a Separation from Service, a Participant shall remain a Participant
                  as long as his or her Accounts are greater than zero and during
                  such time
                  may continue to make investment elections under Article VII. An
                  individual shall cease participation in the Plan when all benefits
                  under
                  the Plan to which he or she is entitled have been
                  paid.

              

      

      

      
        	 	
                A
                  Participant who is an Eligible Employee at the time he or she is
                  placed on
                  disability leave of absence in accordance with the Company’s policies and
                  procedures shall continue to be an Eligible Employee and a Participant
                  eligible for Company Awards under Section 6.3 until the earlier of
                  (i) it is determined by the Plan Administrator that the Eligible
                  Employee is no longer eligible for the Retirement Restoration Benefit,
                  (ii) notification of termination of employment, (iii) attainment
                  of age 65, or (iv) the Participant’s
                  death.

              

      

      

      
        	
                3.3

              	
                Revocation
                  of Future Participation.
                  Notwithstanding the provisions of Section 3.2, the Plan Administrator
                  may, in its discretion, revoke such Participant’s eligibility to make
                  future deferrals under this Plan. Such revocation will not affect
                  in any
                  manner a Participant’s Accounts or other terms of this
                  Plan.

              

      

      
        
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      Article IV

      Deferral
        Elections

      

      
        	
                4.1

              	
                Deferral
                  Elections, Generally.
                  An
                  Eligible Employee shall make a Deferral Election by completing
                  and
                  submitting a deferral agreement during the enrollment periods established
                  by the Plan Administrator and in the manner specified by the Plan
                  Administrator. The Deferral Election shall designate a dollar amount
                  or
                  whole percentage of Compensation to be
                  deferred.

              

      

      

      
        	 	
                Deferral
                  Elections are considered to be effective on the date they become
                  irrevocable as of the dates set forth in Section 4.2 unless the form
                  of Deferral Agreement provided by the Plan Administrator specifies
                  an
                  earlier date. Notwithstanding the foregoing, a Deferral Election
                  may be
                  suspended in the event of an Unforeseeable Emergency (regardless
                  of
                  whether a payment is made to the Participant due to such Unforeseeable
                  Emergency). A Deferral Election that is not timely filed with respect
                  to a
                  service period or component of Compensation shall be considered
                  void and
                  shall have no effect with respect to such service period or
                  Compensation.

              

      

      

      
        	 	
                The
                  HR Committee of the Board of Directors, in its sole discretion,
                  may
                  specify the components of Compensation subject to deferral. The
                  Plan
                  Administrator may establish a minimum or maximum deferral amount
                  for each
                  component of Compensation and the timing of submission of Deferral
                  Elections with respect to such
                  Compensation.

              

      

      

      
        	
                4.2

              	
                Timing
                  Requirements for Deferral Elections.

              

      

      

      
        	 	
                (a)

              	
                First
                  Year of Eligibility.
                  An
                  Eligible Employee may submit a Deferral Election within thirty
                  (30) days
                  of receipt of the notification of his eligible status under
                  Section 3.1. The Deferral Election described in this paragraph
                  becomes irrevocable on the first day following such 30th day. An
                  Eligible
                  Employee may file a Deferral Election under this Section 4.2(a) only
                  if he or she does not participate in any other “account balance plan” as
                  defined in Prop. Treas. Reg. Section 1.409A-1(c)(i)(A) maintained
                  by the
                  Company or an Affiliate, other than as permitted in Prop. Treas.
                  Reg.
                  Section 1.409A-1(c)(ii).

              

      

      

      
        	 	 	
                A
                  Deferral Election filed under this Section 4.2(a) applies to
                  Compensation earned on and after the date the Deferral Election
                  becomes
                  irrevocable. For Compensation that is earned based upon a specified
                  performance period (e.g., over a calendar year), where a Deferral
                  Election
                  is made in the first year of eligibility but after the beginning
                  of the
                  service period, the election will be deemed to apply to Compensation
                  paid
                  for services performed subsequent to the election if the election
                  applies
                  to the portion of the Compensation equal to the total amount of
                  the
                  Compensation for the service period multiplied by the ratio of
                  

              

      

      
        
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                the
                  number of days remaining in the performance period after the Deferral
                  Election becomes irrevocable over the total number of days in the
                  service
                  period.

              

      

      

      
        	 	 	
                Eligibility
                  to submit a Deferral Election during the thirty (30)-day period
                  specified
                  in this Section 4.2(a) shall not preclude an Eligible Employee from
                  also filing any Deferral Elections in accordance with Section 4.2(b)
                  through (g) during or after such thirty (30)-day
                  period.

              

      

      

      
        	 	
                (b)

              	
                Salary
                  and Other Non-Performance-Based Compensation.
                  Subject to the authority of the HR Committee of the Board of Directors
                  to
                  identify deferrable components of Compensation under Section 4.1 and
                  the Plan Administrator’s authority to establish maximum and minimum
                  deferrals under Sections 2.15 and 4.1, a Participant may defer salary
                  and other non-Performance-Based Compensation by filing a Deferral
                  Election
                  no later than December 31 of the year prior to the year in which such
                  Compensation is earned. A Deferral Election described in this paragraph
                  shall become irrevocable with respect to such Compensation as of
                  January 1 of the year in which such Compensation is
                  earned.

              

      

      

      
        	 	
                (c)

              	
                Performance-Based
                  Compensation.
                  A
                  Deferral Election may be filed with respect to Performance-Based
                  Compensation, provided that:

              

      

      

      
        	 	
                (1)

              	
                the
                  Participant performs services continuously from a date no later
                  than the
                  date upon which the performance criteria for such Performance-Based
                  Compensation are established through a date no earlier than the
                  date upon
                  which the Participant submits a Deferral
                  Election;

              

      

      

      
        	 	
                (2)

              	
                the
                  Deferral Election is submitted at the times and in the manner established
                  by the Plan Administrator, but in no event later than the date
                  that is six
                  (6) months before the end of the performance period during which
                  such
                  Performance-Based Compensation is earned;
                  and

              

      

      

      
        	 	
                (3)

              	
                in
                  no event may an election to defer Performance-Based Compensation
                  be made
                  after such Performance-Based Compensation has become both substantially
                  certain to be paid and readily
                  ascertainable.

              

      

      

      
        	 	 	
                A
                  Deferral Election becomes irrevocable with respect to Performance-Based
                  Compensation as of the day immediately following the latest date
                  described
                  in paragraph (c)(2).

              

      

      

      
        	 	 	
                Nothing
                  in Section 4.2(a) shall preclude an Eligible Employee from filing a
                  Deferral Election in his initial year of eligibility under this
                  Section 4.2(c), even if such election is made later than thirty (30)
                  days after notification of eligibility under
                  Section 3.1.

              

      

      

      
        	 	
                (d)

              	
                Short-Term
                  Deferrals.
                  Compensation that meets the definition of a “short-term deferral”
                  described in Prop. Treas. Reg. Section 1.409A-1(b)(4) may be deferred
                  

              

      

      
        
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                under
                  a Deferral Election filed not later than twelve (12) months prior
                  to the
                  date on which the substantial risk of forfeiture lapses. The Payment
                  Schedule for such Deferral must specify a commencement date no
                  earlier
                  than five (5) years after the forfeiture restriction
                  lapses.

              

      

      

      
        	 	
                (e)

              	
                Deferral
                  Election With Respect to Certain Forfeitable
                  Rights.
                  With respect to a legally binding right to a payment in a subsequent
                  year
                  that is subject to a forfeiture condition requiring the Participant’s
                  continued services for a period of at least twelve (12) months
                  from the
                  date the Participant obtains the legally binding right, an election
                  to
                  defer such Compensation may be made on or before the 30th day after
                  the
                  Participant obtains the legally binding right to the Compensation,
                  provided that the election is made at least twelve (12) months
                  in advance
                  of the earliest date at which the forfeiture condition could lapse.
                  The
                  Deferral Election described in this paragraph becomes irrevocable
                  after
                  such 30th day.

              

      

      

      
        	 	
                (f)

              	
                Deferral
                  Under Non-Elective Arrangement.
                  An
                  arrangement satisfying the requirements of Prop. Treas. Reg.
                  Section 1.409A-2(a)(12) shall be treated as a valid Deferral Election
                  subject to the terms of the Plan if such agreement (i) incorporates
                  the provisions of this Plan document by reference or conduct, (ii) is
                  classified as an “individual account plan” under Code Section 409A,
                  and (iii) otherwise complies with Code
                  Section 409A.

              

      

      

      
        	 	
                (g)

              	
                2005
                  Elections.
                  The Plan Administrator has the authority, effective January 1, 2005,
                  to allow any or all Participants to make or modify a Deferral Election
                  with respect to deferrals subject to Code Section 409A, which relate
                  all or in part to services performed prior to December 31, 2005. Such
                  election or modification must be filed with the Plan Administrator
                  no
                  later than March 15, 2005.

              

      

      

      
        	
                4.3

              	
                “Evergreen”
                  Deferral Elections.
                  The Plan Administrator may provide in the form of Deferral Election
                  that
                  such Deferral Election remain in effect until terminated or modified
                  by
                  the Participant. Such “evergreen” Deferral Elections become effective with
                  respect to an item of Compensation on the date such election becomes
                  irrevocable under Section 4.2. A Participant whose Deferral Election
                  is suspended due to an Unforeseeable Emergency will be required
                  to file a
                  new Deferral Election under this Article IV in order to continue
                  making Deferrals under the Plan.

              

      

      

      
        	
                4.4

              	
                Separation
                  Account Elections.
                  A
                  Participant’s Deferral Election may establish one or more Separation
                  Accounts (up to the maximum number of such Accounts established
                  by the
                  Plan Administrator) from which payment will be made due to a Participant’s
                  Separation from Service. The Deferral Election establishing a Separation
                  Account shall specify the Payment Schedule for such
                  Account.

              

      

      

      
        	
                4.5

              	
                Specified
                  Date Account Elections.
                  A
                  Participant’s Deferral Election may establish one or more Specified Date
                  Accounts (up to the maximum number of such Accounts established
                  

              

      

      
        
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                by
                  the Plan Administrator). The Deferral Election establishing a Specified
                  Date Account shall specify the Payment Schedule for such
                  Account.

              

      

      

      
        	 	
                (a)

              	
                Allocation
                  of Deferrals.
                  A
                  Deferral Election may allocate Deferrals to one or more Specified
                  Date
                  Accounts, provided that the payment commencement date for such
                  Accounts
                  occurs on or after the first day of the third Plan Year after the
                  Plan
                  Year to which the Compensation subject to the Deferral Election
                  is earned.
                  If a Deferral Election would result in an allocation of Deferrals
                  to a
                  Specified Date Account with a payment date occurring earlier than
                  the
                  minimum deferral period, such allocation will be treated as an
                  unallocated
                  Deferral, subject to the provisions of
                  Section 4.6.

              

      

      

      
        	 	
                (b)

              	
                Effect
                  of Earlier Separation From Service. The
                  unpaid Account Balance of any Specified Date Account will be combined
                  with
                  the Separation Account in the event of the Participant’s Separation from
                  Service prior to attaining age 55, and will be paid in a single
                  lump sum
                  in accordance with
                  Section 2.23(a).

              

      

      

      
        	
                4.6

              	
                Unspecified
                  Deferral Allocations.
                  Deferrals that are not allocated to a Separation Account or Specified
                  Date
                  Account under the terms of a Deferral Election will be allocated
                  to the
                  Separation Account with the earliest payment commencement
                  year.

              

      

      

      
        	 	
                If
                  a Separation Account has not been established, the Administrator
                  shall
                  establish a Separation Account to receive such Deferrals. Subject
                  to the
                  modification rules under Article V, such Account will be payable in a
                  single lump sum in the year following the year in which the Participant’s
                  Separation from Service occurs.

              

      

      

      
        	
                4.7

              	
                Deductions
                  from Pay.
                  The Plan Administrator has the authority to determine the payroll
                  practices under which any component of Compensation subject to
                  a Deferral
                  election will be deducted from a Participant’s
                  Compensation.

              

      

      

      

      Article V

      Modifications
        to Payment Schedules

      

      
        	
                5.1

              	
                Participant’s
                  Right to Modify.
                  Subject to Section 5.2, a Participant may modify the Payment Schedule
                  with respect to an Account, provided such modification complies
                  with the
                  requirements of Sections 5.1(a) and
                  (b).

              

      

      

      
        	 	
                (a)

              	
                Time
                  of Election. The
                  date on which a modification election is submitted to the Plan
                  Administrator must be at least twelve (12) months prior to the
                  January 1 or July 1 on which payment commences under the Payment
                  Schedule in effect prior to modification, and (ii) the date payments
                  commence under the modified Payment Schedule occurs no earlier
                  than five
                  (5) years after the January 1 or July 1 of the year payment
                  would have commenced under the Payment Schedule in effect prior
                  to the
                  effective date of the modification. Under no circumstances
                  

              

      

      
        
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                may
                  a modification election result in an acceleration of payments in
                  violation
                  of Code Section 409A.

              

      

      

      
        	 	
                (b)

              	
                Effective
                  Date. A
                  modification election described in Section 5.1(a) becomes effective
                  on the date that is twelve (12) months after the date the modification
                  is
                  filed with the Plan Administrator. Until such modification election
                  becomes effective, payment will be made in accordance with the
                  Payment
                  Schedule in effect prior to such
                  modification.

              

      

      

      
        	 	
                (c)

              	
                Effect
                  on Other Accounts. An
                  election to modify a Payment Schedule is specific to the Specified
                  Date or
                  Separation Account to which it applies, and shall not be construed
                  to
                  affect the Payment Schedules of any other
                  Accounts.

              

      

      

      
        	 	
                (D)

              	
                Effect
                  of Modification Election Upon Death or Unforeseeable
                  Emergency.
                  A
                  modification election described in this Section shall have no effect
                  on
                  the commencement date of payments due to death or Unforeseeable
                  Emergency.

              

      

      

      
        	
                5.2

              	
                Modifications
                  Authorized Under Notice 2005-1 and Proposed Regulations.
                  Notwithstanding any provision of this Plan to the contrary, during
                  calendar years 2005 and 2006, a Participant may modify any Payment
                  Schedule of any Account without regard to the requirements of
                  Section 5.1(a) and (b); provided, however, that any modification
                  election submitted during 2006 purporting to modify an Account
                  with a
                  Payment Schedule commencing during 2006 or which would cause the
                  commencement date of the Payment Schedule for an Account to be
                  accelerated
                  into 2006 shall be null and void to the extent such election is
                  inconsistent with this paragraph. The Plan Administrator has the
                  authority
                  to prescribe the time and manner under which such modifications
                  may be
                  made.

              

      

      

      

      Article VI

      Company
        Awards

      

      
        	
                6.1

              	
                Company
                  Awards.
                  The HR Committee of the Board of Directors or the Plan Administrator,
                  if
                  such authority is delegated, may, in its sole and absolute discretion,
                  authorize Company Awards to one, some, or all of the Participant(s)
                  in an
                  amount determined in its sole and absolute discretion. A Company
                  Award may
                  be made at any time during the calendar year and may consist of
“matching”
                  contributions. The HR Committee of the Board of Directors or its
                  delegate
                  shall be under no obligation to make contributions to the Plan
                  unless the
                  Company has entered into a separate agreement (such as an employment
                  agreement) to make such
                  contributions.

              

      

      

      
        	
                6.2

              	
                Vesting.
                  Company Awards and the Earnings thereon, shall vest in accordance
                  with the
                  vesting schedule(s) established by the Plan Administrator at the
                  time that
                  the Company Award is made. The unvested portion shall be forfeited
                  upon
                  Separation from Service. The Plan Administrator may, at any time,
                  in its
                  sole discretion, increase a Participant’s

              

      

      
        
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                vested
                  interest in a Company Award or restore any forfeiture. Notwithstanding
                  the
                  foregoing, any decision to accelerate vesting with respect to a
                  Participant subject to SEC Rule 16b shall be approved by the HR
                  Committee of the Board of
                  Directors.

              

      

      

      
        	
                6.3

              	
                Retirement
                  Restoration Due to Disability.
                  The Company will make an annual contribution to a Participant’s Retirement
                  Restoration Account during each year in which a Participant is
                  receiving
                  disability benefits from the Company. The amount of the contribution
                  will
                  equal 12.5% of the Participant’s Target Total Annual Compensation, up to a
                  maximum of $70,000. The Retirement Restoration Account will be
                  100% vested
                  at all times. Contributions under this Section 6.3 shall be made
                  during such times as the Company is receiving payments under a
                  policy of
                  insurance that are payable due to the Participant’s
                  disability.

              

      

      

      

      Article VII

      Valuation
        of Account Balances; Investments

      

      
        	
                7.1

              	
                Valuation.
                  Deferrals shall be credited to appropriate Accounts on the date
                  such
                  Compensation would have been paid to the Participant absent the
                  Deferral
                  Election. Company Awards shall be credited in accordance with the
                  provisions of Article VI, as determined by the Plan Administrator.
                  Account Balances will be adjusted as of each subsequent Valuation
                  Date to
                  reflect Earnings and payments since the previous Valuation Date.
                  Valuation
                  of Accounts shall be performed under procedures approved by the
                  Plan
                  Administrator.

              

      

      

      
        	
                7.2

              	
                Earnings
                  Credit.
                  Subject to the Plan Administrator’s procedures for valuing payments from
                  the Plan, each Account will be credited with earnings on each Business
                  Day, based upon the Participant’s allocation of Deferrals among a menu of
                  investment options selected in advance by the Plan
                  Administrator.

              

      

      

      
        	 	
                (a)

              	
                Investment
                  Options.
                  Investment options will consist of actual investments, which may
                  include
                  stocks, bonds, mutual fund shares and other investments. The Plan
                  Administrator, in its sole discretion, shall be permitted to add
                  or remove
                  Investment Funds from the Plan menu from time to time provided
                  that any
                  such additions or removals of Investment Funds shall not be effective
                  with
                  respect to any period prior to the effective date of such
                  change.

              

      

      

      
        	 	 	
                A
                  Participant’s investment allocation constitutes a deemed, not actual,
                  investment among the investment options comprising the investment
                  menu. At
                  no time shall a Participant have any real or beneficial ownership
                  in any
                  investment option included in the investment menu, nor shall the
                  Company
                  or any trustee acting on its behalf have any obligation to purchase
                  actual
                  securities as a result of a Participant’s investment allocation. A
                  Participant’s investment allocation shall be used solely for purposes of
                  adjusting the value of a Participant’s Account

              

      

      
        
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                Balances
                  and the amount of the Company’s corresponding payment obligation under the
                  terms of the Plan.

              

      

      

      
        	 	
                (b)

              	
                Participant
                  Allocations.
                  A
                  Participant’s Deferral Election shall specify the manner in which future
                  Deferrals credited to each Account will be invested. Deferrals
                  may be
                  allocated among the investment options in increments of 1%. The
                  Participant’s investment allocation will become effective on the same
                  Business Day or, in the case of investment allocations received
                  after a
                  time specified by the Plan Administrator, the next Business Day.
                  The
                  investment allocation will remain in effect until the Participant
                  modifies
                  the investment allocation in accordance with procedures adopted
                  by the
                  Plan Administrator.

              

      

      

      
        	 	 	
                Participants
                  may reallocate current Account Balances among the investment options
                  in
                  increments of 1% by filing a new allocation election at the time
                  and in
                  the form specified by the Plan Administrator. The Participant’s investment
                  allocation will become effective on the same Business Day or, in
                  the case
                  of asset allocations received after a time specified by the Plan
                  Administrator, the next Business Day. The allocation election shall
                  apply
                  prospectively to the Account or Accounts identified in the
                  election.

              

      

      

      
        	 	
                (c)

              	
                Unallocated
                  Deferrals and Accounts.
                  If any portion of a Deferral or Account Balance has not been allocated
                  to
                  an investment option, such portion shall be invested in an option,
                  the
                  primary objective of which is the preservation of
                  capital.

              

      

      

      

      Article VIII

      Distributions
        and Withdrawals

      

      
        	
                8.1

              	
                Separation
                  Account Payments.
                  Payments will be made from all Separation Accounts according to
                  the
                  Payment Schedule specified in Section 2.23(a). The amount of the
                  payments will be based on the Separation Account Balance and will
                  be paid
                  in accordance with the provisions of
                  Section 8.6.

              

      

      

      
        	
                8.2

              	
                Specified
                  Date Account Payments.
                  Subject to an earlier Separation from Service described in
                  Section 4.5(b), the Account Balance of each Specified Date Account
                  will be paid in accordance with the Payment Schedule in effect
                  for such
                  Account and the provisions of
                  Section 8.6.

              

      

      

      
        	
                8.3

              	
                Retirement
                  Restoration Benefit.
                  The Company shall pay or commence payment of the Retirement Restoration
                  Benefit according to the Payment Schedule specified in
                  Section 2.23(d).

              

      

      

      
        	
                8.4

              	
                Death
                  Benefit.
                  If payments have commenced from a Participant’s Accounts as of the time of
                  the Participant’s death, the Beneficiary(ies) will continue to receive the
                  remaining 

              

      

      
        
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                payments
                  under the Payment Schedule in effect for such Account. If payments
                  have
                  not commenced from an Account, payment will be made in accordance
                  with the
                  Payment Schedule for a death benefit described in
                  Section 2.23(c).

              

      

      

      
        	
                8.5

              	
                Unforeseeable
                  Emergency.
                  A
                  Participant may submit a written request to the Plan Administrator
                  to
                  receive a distribution from his or her Account Balance(s) if the
                  Participant experiences an Unforeseeable Emergency. Distributions
                  of
                  amounts in the event of an Unforeseeable Emergency are limited
                  to the
                  extent reasonably needed to satisfy the emergency need which cannot
                  be met
                  with other resources of the Participant. The amount of such distribution
                  shall be subtracted first from the Participant’s Separation Account with
                  the latest payment commencement date until depleted and then from
                  the next
                  latest Separation Accounts and then Specified Date
                  Accounts.

              

      

      

      
        	 	
                A
                  withdrawal by a Participant who is a “16b Officer” must be approved by the
                  HR Committee of the Board of
                  Directors.

              

      

      

      
        	
                8.6

              	
                Valuation
                  and Payment.
                  Payment of benefits under the Plan will be based on the valuation
                  of the
                  applicable Account Balance as of the Valuation Date specified by
                  the Plan
                  Administrator in its discretion.

              

      

      

      
        	 	
                Payment
                  is treated as made upon the payment commencement date under the
                  applicable
                  Payment Schedule if the payment is made on or after such date in
                  the same
                  calendar year or, if later, by the 15th day of the third calendar
                  month
                  following the date specified under the arrangement. If a calculation
                  of
                  the amount of the payment is not administratively practical due
                  to events
                  beyond the control of the Participant, the payment will be treated
                  as made
                  upon the date specified under the Payment Schedule if the payment
                  is made
                  during the first calendar year in which the payment becomes
                  administratively practicable.

              

      

      

      
        	
                8.7

              	
                Installments;
                  Declining Balance Calculation.
                  If a Payment Schedule specifies installment payments, annual payments
                  will
                  be made beginning as of the payment commencement date for such
                  installments and shall continue on each anniversary thereof until
                  the
                  number of installment payments specified in the Payment Schedule
                  has been
                  paid. The amount of each installment payment shall be determined
                  by
                  dividing (a) by (b):

              

      

      

      
        	 	
                (a)

              	
                equals
                  the Account Balance as of the Valuation Date
                  and

              

      

      

      
        	 	
                (b)

              	
                equals
                  the remaining number of installment
                  payments.

              

      

      

      
        	
                8.8

              	
                “De
                  Minimis Account” Balance.
                  Any provision in this Plan to the contrary notwithstanding, payment
                  to a
                  Participant or Beneficiary will be made in a single lump sum, provided
                  (i) the payment accompanies the entirety of the Participant’s
                  interest in the Plan and all similar arrangements that constitute
                  a
                  nonqualified deferred compensation arrangement under Prop. Treas.
                  Reg.
                  Section 1.409A-1(c); (ii) the payment is made on or before the
                  later of December 31 of the calendar year in which occurs the
                  Participant’s Separation from Service, or the 15th day of the third month
                  following the Participant’s 

              

      

      
        
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                Separation
                  from Service; (iii) the payment is not greater than $25,000. Any
                  Payment Schedule contrary to the provisions of this Section 8.8 shall
                  be null and void.

              

      

      

      
        	
                8.9

              	
                Domestic
                  Relations Order.
                  Notwithstanding any benefit, Payment Schedule or other provision
                  of this
                  Plan regarding the time and form of payment, the Plan Administrator
                  may
                  pay all or a portion of a Participant’s Accounts to an “alternate payee”
                  as specified under the terms of a domestic relations order (defined
                  in
                  Code Section 414(p)(1)(B)). If a time or form of payment is not
                  specified
                  in such order, payment will be made to such alternate payee(s)
                  in a single
                  lump sum as soon as is administratively practical following the
                  Plan
                  Administrator’s determination that the order meets the requirements of
                  this Section 8.9.

              

      

      

      
        	
                8.10

              	
                Permissible
                  Payment Delays.
                  The Company may delay any payment to a Participant upon the Plan
                  Administrator’s reasonable anticipation of one or more of the
                  following:

              

      

      

      
        	 	
                (a)

              	
                The
                  Company’s income tax deduction with respect to such payment would be
                  limited or eliminated by application of Code Section 162(m);
                  or

              

      

      

      
        	 	
                (b)

              	
                Making
                  such payment would violate a term of a loan agreement to which
                  the Company
                  or an Affiliate is a party, or other similar contract to which
                  the
                  Company, or an Affiliate, is a party, and such violation would
                  cause
                  material harm to the Company or an Affiliate;
                  or

              

      

      

      
        	 	
                (c)

              	
                Making
                  such payment would violate federal securities laws or other applicable
                  law.

              

      

      

      

      Article IX

      Administration

      

      
        	
                9.1

              	
                Plan
                  Administration.
                  This Plan shall be administered by the Deferred Compensation Committee
                  of
                  the Company which shall act as the Plan Administrator. The Plan
                  Administrator shall have discretionary authority to make, amend,
                  interpret
                  and enforce all appropriate rules and regulations for the administration
                  of this Plan and to utilize its discretion to decide or resolve
                  any and
                  all questions, including but not limited to eligibility for benefits
                  and
                  interpretations of this Plan and its terms, as may arise in connection
                  with the Plan. Claims for benefits shall be filed with the Plan
                  Administrator and resolved in accordance with the claims procedures
                  in
                  Article XII. The Plan Administrator may exercise such additional
                  powers and authority as may be delegated to the Plan Administrator
                  by the
                  HR Committee of the Board of Directors and such powers as are conferred
                  under the terms of the Plan.

              

      

      

      
        	
                9.2

              	
                Administration
                  Upon Change in Control.
                  Upon a Change in Control the members of the HR Committee of the
                  Board of
                  Directors, as constituted immediately prior to such Change in Control,
                  shall act as the Plan
                  Administrator.

              

      

      
        
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                Upon
                  such Change in Control, the management of the successor to the
                  Company may
                  not act, directly or indirectly, to remove the Plan Administrator,
                  unless
                  2/3rds of the members of the Board of Directors of the Company
                  and a
                  majority of Participants and Beneficiaries with Account Balances
                  consent
                  to the removal and replacement of the Plan Administrator. The individual
                  who was the Chief Executive Officer of the Company (or if such
                  person is
                  unable or unwilling to act, the next highest ranking officer) prior
                  to the
                  Change in Control shall have the authority (but shall not be obligated)
                  to
                  appoint an independent third party to act as the Plan Administrator
                  in
                  lieu of the members of the HR Committee of the Board of Directors.
                  Notwithstanding the foregoing, neither the members of the HR Committee
                  of
                  the Board of Directors nor the officer described above shall have
                  authority to direct investment of trust assets under any rabbi
                  trust
                  described in Section 11.2.

              

      

      

      
        	 	
                The
                  members of the HR Committee of the Board of Directors, acting as
                  the Plan
                  Administrator, shall have the exclusive authority to interpret
                  the terms
                  of the Plan and resolve claims under the claims procedure (except
                  appeals
                  brought by a Participant or
                  Beneficiary).

              

      

      

      
        	 	
                The
                  successor organization to the Company shall, with respect to the
                  individuals acting as the Plan Administrator identified under this
                  Section, (i) pay all reasonable expenses and fees of the Plan
                  Administrator, (ii) indemnify the Plan Administrator (including
                  individual members of the HR Committee of the Board of Directors)
                  against
                  any costs, expenses and liabilities including, without limitation,
                  attorneys’ fees and expenses arising in connection with the performance of
                  the Plan Administrator hereunder, except with respect to matters
                  resulting
                  from the Plan Administrator’s gross negligence or willful misconduct and
                  (iii) supply full and timely information to the Plan Administrator on
                  all matters related to the Plan, any rabbi trust, Participants,
                  Beneficiary(ies) and Accounts as the Plan Administrator may reasonably
                  require.

              

      

      

      
        	
                9.3

              	
                Withholding.
                  The Company shall have the right to withhold from any payment due
                  under
                  the Plan (or any amount deferred into the Plan) any taxes required
                  by law
                  to be withheld in respect of such payment (or
                  Deferral).

              

      

      

      
        	
                9.4

              	
                Indemnification.
                  The Company shall indemnify and hold harmless each employee, officer,
                  director, agent or organization, to whom or to which it delegated
                  duties,
                  responsibilities, and authority under the Plan or otherwise with
                  respect
                  to administration of the Plan, including, without limitation, the
                  Plan
                  Administrator, the HR Committee of the Board of Directors and their
                  agents, against all claims, liabilities, fines and penalties, and
                  all
                  expenses reasonably incurred by or imposed upon him or it (including
                  but
                  not limited to reasonable attorney fees) which arise as a result
                  of his or
                  its actions or failure to act in connection with the operation
                  and
                  administration of the Plan to the extent lawfully allowable and
                  to the
                  extent that such claim, liability, fine, penalty, or expense is
                  not paid
                  for by liability insurance purchased or paid for by the Company.
                  Notwithstanding the foregoing, the Company shall not indemnify
                  any person
                  or organization if his or its actions or failure to act are due
                  to gross
                  negligence or willful 

              

      

      
        
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                misconduct
                  or for any such amount incurred through any settlement or compromise
                  of
                  any action unless the Company consents in writing to such settlement
                  or
                  compromise.

              

      

      

      
        	
                9.5

              	
                Expenses.
                  The direct out of pocket expenses of administering the Plan shall
                  be paid
                  by the Company.

              

      

      

      
        	
                9.6

              	
                Delegation
                  of Authority.
                  In the administration of this Plan, the Plan Administrator may,
                  from time
                  to time, employ agents and delegate to them such administrative
                  duties as
                  it sees fit, and may from time to time consult with legal counsel
                  who
                  shall be legal counsel to the
                  Company.

              

      

      

      
        	
                9.7

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

              

      

      

      

      Article X

      Amendment
        and Termination

      

      
        	
                10.1

              	
                Amendment
                  and Termination.
                  The Plan is intended to be permanent, but the HR Committee of the
                  Board of
                  Directors of the Company may at any time and from time to time
                  amend the
                  Plan or may terminate the Plan as provided in this
                  Section 10.1.

              

      

      

      
        	 	
                (a)

              	
                Amendments.
                  The
                  Company, by action taken by the HR Committee of the Board of Directors,
                  may amend the Plan at any time, provided that any such amendment
                  shall not
                  reduce the vested Account Balances of any Participant accrued as
                  of the
                  date of any such amendment or restatement (as if the Participant
                  had
                  incurred a voluntary Separation from Service on such date) or reduce
                  any
                  rights of a Participant under the Plan or other Plan features with
                  respect
                  to vested Deferrals made prior to the date of any such amendment
                  or
                  restatement without the consent of the Participant. The HR Committee
                  of
                  the Board of Directors of the Company may delegate to the Plan
                  Administrator the authority to amend the Plan without the consent
                  of the
                  Board of Directors of the Company for the purpose of (i) conforming
                  the Plan to the requirements of law, (ii) to facilitate
                  administration, (iii) to clarify provisions based on the Plan
                  Administrator’s interpretation of the document and (iv) to make such
                  other amendments as the Board may
                  authorize.

              

      

      

      
        	 	
                (b)

              	
                Termination.
                  The Company, by action taken by the HR Committee of the Board of
                  Directors, may terminate the Plan and pay Participants and Beneficiaries
                  their Account Balances in a single lump sum under the following
                  conditions:

              

      

      

      
        	 	
                (1)

              	
                Company’s
                  Discretion.
                  The Company may terminate the Plan in its discretion, provided
                  that
                  (i) all arrangements sponsored by the Company that would be
                  aggregated with any terminated arrangement under Prop.
                  

              

      

      
        
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                Treas.
                  Reg. Section 1.409A-1(c) if the same Participant participated in all
                  of the arrangements, are terminated; (ii) no payments other than
                  payments that would be payable under the terms of the arrangements
                  if the
                  termination had not occurred are made within twelve (12) months
                  of the
                  termination of the arrangements; (iii) all payments are made within
                  twenty-four (24) months of the termination of the arrangements;
                  and
                  (iv) the Company or its Affiliates do not adopt a new arrangement
                  that would be aggregated with any terminated arrangement under
                  Prop.
                  Treas. Reg. Section 1.409A-1(c) if the same Participant participated
                  in both arrangements, at any time within five (5) years following
                  the date
                  of termination of the arrangement.

              

      

      

      
        	 	
                (2)

              	
                Change
                  in Control.
                  The Company may terminate the Plan within the thirty (30) days
                  preceding
                  or the twelve (12) months following a Change in Control (as defined
                  in
                  Prop. Treas. Reg. Section 1.409A-2(g)(4)(i)). For purposes of this
                  paragraph, a Change in Control shall be defined as provided in
                  Prop.
                  Treas. Reg. Section 1.409A-2(g)(4)(i). The Plan is considered terminated
                  under this paragraph only if all substantially similar arrangements
                  are
                  terminated, and all participants under such arrangements are required
                  to
                  receive all amounts of compensation deferred under the terminated
                  arrangements within twelve (12) months of the termination of such
                  arrangements.

              

      

      

      
        	 	
                (3)

              	
                Dissolution;
                  Bankruptcy Court Order.
                  The Company may terminate the Plan within twelve (12) months of
                  a
                  corporate dissolution taxed under Code Section 331, or with the
                  approval of a bankruptcy court pursuant to 11 U.S.C. Section
                  403(b)(1)(A), provided that the vested Account Balances are included
                  in
                  Participants’ gross incomes in the latest of (i) the calendar year in
                  which the Plan terminates; (ii) the calendar year in which the amount
                  is no longer subject to a substantial risk of forfeiture; or
                  (iii) the first calendar year in which the payment is
                  administratively practicable.

              

      

      

      
        	
                10.2

              	
                Accounts
                  Taxable Under Code Section 409A.
                  The Plan is intended to constitute a plan of deferred compensation
                  that
                  meets the requirements for deferral of income taxation under Code
                  Section
                  409A. The Plan Administrator, pursuant to its authority to interpret
                  the
                  Plan, may sever from the Plan or any Deferral Election any provision
                  or
                  exercise of a right that otherwise would result in a violation
                  of Code
                  Section 409A. If, after application of the preceding sentence,
                  the Plan
                  Administrator determines that a Participant’s Accounts are taxable or if
                  such Participant receives a notice of deficiency from the Internal
                  Revenue
                  Service due to a violation of Code Section 409A, such Participant
                  will receive payment from his or her Accounts in a single lump
                  sum. The
                  amount of the payment shall not exceed the lesser of (i) the
                  Participant’s Account Balance or (ii) an amount equal to the amount
                  of income included in taxable income as a result of such violation,
                  plus
                  an additional amount, to the extent permissible under Treasury
                  Department
                  regulations, for penalties under Code Section 409A, other taxes
                  and
                  

              

      

      
        
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                interest
                  or other costs. Payment under this Section 10.2, including the amount
                  of any taxes, penalties, interest or other costs, shall be applied
                  against
                  the Participant’s Accounts and shall constitute fulfillment of the
                  Company’s payment obligation to such Participant under the Plan to the
                  extent of any such payments.

              

      

      

      

      Article XI

      Informal
        Funding

      

      
        	
                11.1

              	
                General
                  Assets.
                  Obligations established under the terms of the Plan may be satisfied
                  from
                  the general funds of the Company, an Affiliate, or a trust described
                  in
                  Section 11.2. No Participant, spouse or Beneficiary shall have any
                  right, title or interest whatever in assets of the Company or an
                  Affiliate. Nothing contained in this Plan, and no action taken
                  pursuant to
                  its provisions, shall create or be construed to create a trust
                  of any
                  kind, or a fiduciary relationship, between the Company or its Affiliates
                  and any Employee, spouse, or Beneficiary. To the extent that any
                  person
                  acquires a right to receive payments from the Company hereunder,
                  such
                  rights are no greater than the right of an unsecured general creditor
                  of
                  the Company.

              

      

      

      
        	
                11.2

              	
                Rabbi
                  Trust.
                  The Company or an Affiliate may, at its sole discretion, establish
                  a
                  grantor trust, commonly known as a rabbi trust, as a vehicle for
                  accumulating assets to pay benefits under the Plan. Payments under
                  the
                  Plan may be paid from the general assets of the Company or from
                  the assets
                  of any such rabbi trust. Payment from any such source shall reduce
                  the
                  Company’s obligation to the Participant or Beneficiary under the
                  Plan.

              

      

      

      

      Article XII

      Claims

      

      
        	
                12.1

              	
                Filing
                  a Claim.
                  Any controversy or claim arising out of or relating to the Plan
                  shall be
                  filed in writing with the Plan Administrator which shall make all
                  determinations concerning such claim. Any claim filed with the
                  Plan
                  Administrator and any decision by the Plan Administrator denying
                  such
                  claim shall be in writing and shall be delivered to the Participant
                  or
                  Beneficiary filing the claim
                  (Claimant).

              

      

      

      
        	
                12.2

              	
                In
                  General.
                  Notice of a denial of benefits will be provided within ninety (90)
                  days of
                  the Plan Administrator’s receipt of the Claimant’s claim for benefits. If
                  the Plan Administrator determines that it needs additional time
                  to review
                  the claim, the Plan Administrator will provide the Claimant with
                  a notice
                  of the extension before the end of the initial ninety (90)-day
                  period. The
                  extension will not be more than ninety (90) days from the end of
                  the
                  initial ninety (90)-day period and the notice of extension will
                  explain
                  the special circumstances that require the extension and the date
                  by which
                  the Plan Administrator expects to make a
                  decision.

              

      

      

      
        
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                12.3

              	
                Contents
                  of Notice.
                  If a claim for benefits is completely or partially denied, notice
                  of such
                  denial shall be in writing and shall set forth the reasons for
                  denial in
                  plain language. The notice shall (i) cite the pertinent provisions of
                  the Plan document and (ii) explain, where appropriate, how the
                  Claimant can perfect the claim, including a description of any
                  additional
                  material or information necessary to complete the claim and why
                  such
                  material or information is necessary. The claim denial also shall
                  include
                  an explanation of the claims review procedures and the time limits
                  applicable to such procedures, including a statement of the Claimant’s
                  right to bring a civil action under Section 502(a) of ERISA following
                  an adverse decision on review.

              

      

      

      
        	
                12.4

              	
                Appeal
                  of Denied Claims.
                  A
                  Claimant whose claim has been completely or partially denied shall
                  be
                  entitled to appeal the claim denial by filing a written appeal
                  with the
                  Plan Administrator. A Claimant who timely requests a review of
                  the denied
                  claim (or his or her authorized representative) may review, upon
                  request
                  and free of charge, copies of all documents, records and other
                  information
                  relevant to the denial and may submit written comments, documents,
                  records
                  and other information relevant to the claim to the Plan Administrator.
                  All
                  written comments, documents, records, and other information shall
                  be
                  considered “relevant” if the information (i) was relied upon in
                  making a benefits determination, (ii) was submitted, considered or
                  generated in the course of making a benefits decision regardless
                  of
                  whether it was relied upon to make the decision, or
                  (iii) demonstrates compliance with administrative processes and
                  safeguards established for making benefit decisions. The Plan
                  Administrator may, in its sole discretion and if it deems appropriate
                  or
                  necessary, decide to hold a hearing with respect to the claim
                  appeal.

              

      

      

      
        	 	
                (a)

              	
                In
                  General.
                  Appeal of a denied benefits claim must be filed in writing with
                  the Plan
                  Administrator no later than sixty (60) days after receipt of the
                  written
                  notification of such claim denial. The Plan Administrator shall
                  make its
                  decision regarding the merits of the denied claim within sixty
                  (60) days
                  following receipt of the appeal (or within one hundred and twenty
                  (120)
                  days after such receipt, in a case where there are special circumstances
                  requiring extension of time for reviewing the appealed claim).
                  If an
                  extension of time for reviewing the appeal is required because
                  of special
                  circumstances, written notice of the extension shall be furnished
                  to the
                  Claimant prior to the commencement of the extension. The notice
                  will
                  indicate the special circumstances requiring the extension of time
                  and the
                  date by which the Plan Administrator expects to render the determination
                  on review. The review will take into account comments, documents,
                  records
                  and other information submitted by the Claimant relating to the
                  claim
                  without regard to whether such information was submitted or considered
                  in
                  the initial benefit determination.

              

      

      

      
        	 	
                (b)

              	
                Contents
                  of Notice.
                  If
                  a benefits claim is completely or partially denied on review, notice
                  of
                  such denial shall be in writing and shall set forth the reasons
                  for denial
                  in plain language. The decision on review shall set forth (i) the
                  specific reason or reasons for the denial, (ii) specific references
                  to the pertinent Plan provisions on which the denial is based,
                  (iii) a statement that the Claimant is entitled to receive, upon
                  request and free of charge, reasonable access to and
                  

              

      

      
        
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                copies
                  of all documents, records, or other information relevant (as defined
                  above) to the Claimant’s claim, and (iv) a statement describing any
                  voluntary appeal procedures offered by the plan and a statement
                  of the
                  Claimant’s right to bring an action under Section 502(a) of
                  ERISA.

              

      

      

      
        	 	
                (c)

              	
                Claims
                  Appeals Upon Change in Control.
                  Upon a Change in Control, the members of the Deferred Compensation
                  Committee, as constituted immediately prior to such Change in Control,
                  shall continue to act as the Plan
                  Administrator.

              

      

      

      
        	 	 	
                Upon
                  such Change in Control, the Company may not remove any member of
                  the
                  Deferred Compensation Committee but may replace resigning members
                  if
                  2/3rds of the members of the Board of Directors of the Company
                  and a
                  majority of Participants and Beneficiaries with Account Balances
                  consent
                  to the replacement.

              

      

      

      
        	 	 	
                The
                  Plan Administrator shall have the exclusive authority at the appeals
                  stage
                  to interpret the terms of the Plan and resolve appeals under the
                  Claims
                  Procedure.

              

      

      

      
        	 	 	
                The
                  Company shall, with respect to the Plan Administrator identified
                  under
                  this Section, (i) pay all reasonable expenses and fees of the Plan
                  Administrator, (ii) indemnify the Plan Administrator (including
                  individual committee members) against any costs, expenses and liabilities
                  including, without limitation, attorneys’ fees and expenses arising in
                  connection with the performance of the Plan Administrator hereunder,
                  except with respect to matters resulting from the Plan Administrator’s
                  gross negligence or willful misconduct, and (iii) supply full and
                  timely information to the Plan Administrator on all matters related
                  to the
                  Plan, any rabbi trust, Participants, Beneficiaries and Accounts
                  as the
                  Plan Administrator may reasonably
                  require.

              

      

      

      
        	
                12.5

              	
                Legal
                  Action.
                  A
                  Claimant may not bring any legal action, including commencement
                  of any
                  arbitration, relating to a claim for benefits under the Plan unless
                  and
                  until the Claimant has followed the claims procedures under the
                  Plan and
                  exhausted his or her administrative remedies under such claims
                  procedures.

              

      

      

      
        	 	
                If
                  a Participant or Beneficiary prevails in a legal proceeding brought
                  under
                  the Plan to enforce the rights of such Participant or any other
                  similarly
                  situated Participant or Beneficiary, in whole or in part, the Company
                  shall reimburse such Participant or Beneficiary for all legal costs,
                  expenses, attorneys’ fees and such other liabilities incurred as a result
                  of such proceedings. If the legal proceeding is brought in connection
                  with
                  a Change in Control, or a “change in control” as defined in a rabbi trust
                  described in Section 11.2, the Participant or Beneficiary may file a
                  claim directly with the trustees for reimbursement of such costs,
                  expenses
                  and fees. For purposes of the preceding sentence, the amount of
                  the claim
                  shall be treated as if it were an addition to the Participant’s or
                  Beneficiary’s Account Balance and will be in included in determining the
                  Company’s trust funding obligation under
                  Section 11.2.

              

      

      

      
        
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            Corporation 2005 Deferred Compensation Plan

          

          

        

      

      
        	
                12.6

              	
                Discretion
                  of Plan Administrator.
                  All interpretations, determinations and decisions of the Plan
                  Administrator with respect to any claim shall be made in its sole
                  discretion, and shall be final and
                  conclusive.

              

      

      

      

      Article XIII

      General
        Conditions

      

      
        	
                13.1

              	
                Anti-Assignment
                  Rule.
                  No interest of any Participant, spouse or Beneficiary under this
                  Plan and
                  no benefit payable hereunder shall be assigned as security for
                  a loan, and
                  any such purported assignment shall be null, void and of no effect,
                  nor
                  shall any such interest or any such benefit be subject in any manner,
                  either voluntarily or involuntarily, to anticipation, sale, transfer,
                  assignment or encumbrance by or through any Participant, spouse
                  or
                  Beneficiary.

              

      

      

      
        	
                13.2

              	
                No
                  Legal or Equitable Rights or Interest.
                  No Participant or other person shall have any legal or equitable
                  rights or
                  interest in this Plan that are not expressly granted in this Plan.
                  Participation in this Plan does not give any person any right to
                  be
                  retained in the service of the Company or any of its subsidiaries
                  or
                  affiliated companies. The right and power of the Company to dismiss
                  or
                  discharge an Employee is expressly reserved. Notwithstanding the
                  provisions of Section 10.2, the Company makes no representations or
                  warranties as to the tax consequences to a Participant or a Participant’s
                  beneficiary(ies) resulting from a deferral of income pursuant to
                  the
                  Plan.

              

      

      

      
        	
                13.3

              	
                No
                  Employment Contract.
                  Nothing contained herein shall be construed to constitute a contract
                  of
                  employment between an Employee and the Company or any of its subsidiaries
                  or affiliated companies.

              

      

      

      
        	
                13.4

              	
                Notice.
                  Any notice or filing required or permitted to be delivered to the
                  Plan
                  Administrator under this Plan shall be delivered in writing, in
                  person, or
                  through such electronic means as is established by the Plan Administrator.
                  Notice shall be deemed given as of the date of delivery or, if
                  delivery is
                  made by mail, as of the date shown on the postmark on the receipt
                  for
                  registration or certification. Written transmission shall be sent
                  by
                  certified mail to:

              

      

      

      

      Ball
        Corporation

      10
        Longs Peak Drive

      Broomfield,
        CO 80021

      Attn:
        Deferred Compensation Plan Administrator

      

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

              

      

      

      
        
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          Ball
            Corporation 2005 Deferred Compensation Plan

          

          

        

      

      
        	
                13.5

              	
                Headings.
                  The headings of Sections are included solely for convenience of
                  reference,
                  and if there is any conflict between such headings and the text of this
                  Plan, the text shall control.

              

      

      

      
        	
                13.6

              	
                Invalid
                  or Unenforceable Provisions.
                  If any provision of this Plan shall be held invalid or unenforceable,
                  such
                  invalidity or unenforceability shall not affect any other provisions
                  hereof and the Plan Administrator may elect in its sole discretion
                  to
                  construe such invalid or unenforceable provisions in a manner that
                  conforms to applicable law or as if such provisions, to the extent
                  invalid
                  or unenforceable, had not been
                  included.

              

      

      

      
        	
                13.7

              	
                Governing
                  Law.
                  To the extent not preempted by ERISA, the laws of the State of
                  Indiana
                  shall govern the construction and administration of the
                  Plan.

              

      

      

      

      

      IN
        WITNESS WHEREOF,
        the undersigned executed this Plan as of the 26th day of April, 2006 to be
        effective as of the Effective Date.

      

      

      Ball
        Corporation

      

      By: David
        A. Westerlund (Print Name)

      

      Its:
        Executive Vice President, Administration, and Corporate
        Secretary (Title)

      

      

       /s/
        David A. Westerlund (Signature)

       

      

        
          
            Page
              26 of
              26Exhibit 10.2 Ball Corporation 2005 Deferred Compensation Company Stock Plan

    Exhibit
      10.2

    

    

    

    

    

    

    

    

    

    

    

    

     

    

     

    Ball
      Corporation

     

    2005
      Deferred Compensation

     

    Company
      Stock Plan

     

    

    Effective
      January 1, 2005

     

    

    

    

    
      
        
          

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          Ball
            Corporation 2005 Deferred Compensation Company Stock
            Plan

        

      

    

    

    

      
        	
                Article I

              	 
	
                Establishment
                  and Purpose

              	
                1

              
	 	 
	
                Article II

              	 
	
                Definitions

              	
                1

              
	 	 
	
                Article III

              	 
	
                Eligibility
                  and Participation

              	
                9

              
	 	 
	
                Article IV

              	 
	
                Deferral
                  Elections

              	
                9

              
	 	 
	
                Article V

              	 
	
                Modifications
                  to Payment Schedules

              	
                13

              
	 	 
	
                Article VI

              	 
	
                Company
                  Awards

              	
                14

              
	 	 
	
                Article VII

              	 
	
                Valuation
                  of Account Balances, Earnings

              	
                15

              
	 	 
	
                Article VIII

              	 
	
                Distributions
                  and Withdrawals

              	
                17

              
	 	 
	
                Article IX

              	 
	
                Administration

              	
                17

              
	 	 
	
                Article X

              	 
	
                Amendment
                  and Termination

              	
                19

              
	 	 
	
                Article XI

              	 
	
                Informal
                  Funding

              	
                20

              
	 	 
	
                Article XII

              	 
	
                Claims

              	
                21

              
	 	 
	
                Article XIII

              	 
	
                General
                  Conditions

              	
                23

              

      

    

    

    Schedule
      A - Company Matching Contributions

    

    

    
      
        
          

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          Ball
            Corporation 2005 Deferred Compensation Company Stock Plan

          

          

        

      

    

    Article I

    Establishment
      and Purpose

    

    Ball
      Corporation (the “Company”) has maintained and will continue to maintain the
      Ball Corporation 2000 Deferred Compensation Company Stock Plan and predecessor
      plans (the “Grandfathered Plans”).

    

    The
      Company hereby adopts the Ball Corporation 2005 Deferred Compensation Company
      Stock Plan, restated as of April 26, 2006 (the “Plan”). The purpose of the
      Plan continues to be to attract and retain key Employees and Directors by
      providing such Employees and Directors with the opportunity to defer the cash
      portion of their annual incentive awards (or, in the case of Directors, the
      non-equity portion of their Annual Incentive Retainer) and other cash
      compensation specified by the Human Resources Committee (the “HR Committee”) of
      the Board of Directors under a nonqualified plan that also aligns the interests
      of such Employees and Directors with the Company stockholders.

    

    In
      December, 2005, the Company adopted an interim document in response to proposed
      Treasury regulations published on October 4, 2005, that required the
      Company to adopt written amendments prior to December 31, 2005, with
      respect to items of transition relief described in Notice 2005-1 and that
      expired on December 31, 2005. The interim document was intended to satisfy
      the amendment requirements of the proposed regulations without the amendment
      constituting a “material modification” to the Grandfathered Plans, but subject
      to restatement in 2006 to reflect the requirements of Code Section 409A.
      Accordingly, the Company adopts this Plan document, as of the date set forth
      on
      the signature page below and effective as of the Effective Date, to comply
      with
      the requirements of Code Section 409A.

    

    The
      Plan
      is intended to be an unfunded arrangement providing deferred compensation to
      eligible employees who are part of a select group of management or highly
      compensated employees of the Company within the meaning of Sections 201(2),
      301(a)(3) and 401(a)(1) of ERISA.

    

    

    Article II

    Definitions

    

    
      	
              2.1

            	
              Account.
                Account means a bookkeeping account maintained by the Plan Administrator
                to record the Company’s payment obligation to a Participant as determined
                under the terms of the Plan. The Plan Administrator may maintain
                an
                Account to record the total obligation to a Participant and component
                Accounts to reflect amounts payable at different times and in different
                forms pursuant to the terms of a Participant’s Deferral Election. Without
                limiting the Plan Administrator’s authority to establish Accounts as it
                deems necessary, Accounts may include, for each Participant, Separation
                Accounts up to a maximum number established by the Plan Administrator.
                Reference to an Account means any such Account established by the
                Plan
                Administrator, as the context requires. Accounts are intended to
                constitute unfunded obligations of the Company within the meaning
                of
                Sections 201(2), 301(a)(3) and 401(a)(1) of
                ERISA.

            

    

    
      
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        Ball
          Corporation 2005 Deferred Compensation Company Stock Plan

        

        

      

    

    

    
      	 	
              Accounts
                under this Plan shall reflect only those amounts considered to be
                Deferrals as defined in this Plan. The provisions of this Plan shall
                apply
                only to such Accounts and shall not apply to any Grandfathered Plan
                accounts.

            

    

    

    
      	
              2.2

            	
              Account
                Balance.
                Account Balance means, with respect to any Account, the total amount
                of
                the Company’s payment obligation from such Account as of the most recent
                Valuation Date.

            

    

    

    
      	
              2.3

            	
              Affiliate.
                Affiliate means a corporation, trade or business that, together with
                the
                Company, is treated as a single employer under Code Section 414(b) or
                (c).

            

    

    

    
      	
              2.4

            	
              Beneficiary.
                Beneficiary means a natural person, estate, or trust designated by
                a
                Participant to receive benefits to which a Beneficiary is entitled
                in
                accordance with provisions of the Plan. The Participant’s spouse, if
                living, otherwise the Participant’s estate, shall be the Beneficiary
                if:

            

    

    

    
      	 	
              (a)

            	
              the
                Participant has not designated a natural person or trust as Beneficiary,
                or

            

    

    

    
      	 	
              (b)

            	
              all
                designated Beneficiaries have predeceased the
                Participant.

            

    

    

    
      	 	
              A
                former spouse shall have no interest under the Plan, as Beneficiary
                or
                otherwise, unless (i) the Participant designates such person as a
                Beneficiary after dissolution of the marriage or (ii) such interest
                is ordered under a domestic relations order described in
                Section 8.7.

            

    

    

    
      	
              2.5

            	
              Business
                Day.
                A
                Business Day is each day on which the New York Stock Exchange is
                open for
                business.

            

    

    

    
      	
              2.6

            	
              Change
                in Control.
                Change in Control occurs on the date on which there is (i) a change
                in the ownership of the Company, (ii) a change in the effective
                control of the Company or (iii) a change in the ownership of a
                substantial portion of the Company’s assets. For purposes of this Section,
                a change in ownership of the Company occurs on the date on which
                any one
                person or more than one person acting as a group acquires ownership
                of
                stock of the Company that, together with stock held by such person
                or
                group constitutes more than 50% of the total fair market value or
                total
                voting power of the stock of the Company. A change in the effective
                control of the Company occurs on the date on which either (i) a
                person or more than one person acting as a group acquires ownership
                of
                stock of the Company possessing 35% or more of the total voting power
                of
                the stock of the Company or (ii) a majority of members of the
                Company’s Board of Directors is replaced during any twelve (12)-month
                period by directors whose appointment or election is not endorsed
                by a
                majority of the members of the Company’s Board of Directors prior to the
                date of the appointment or election. A change in the ownership of
                a
                substantial portion of assets occurs on the date on which any one
                person
                or more than one person acting as a group acquires assets from the
                Company
                that have a total gross fair market value equal to
                

            

    

    
      
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        Ball
          Corporation 2005 Deferred Compensation Company Stock Plan

        

        

      

    

    
      	 	
              or
                more than 40% of the total gross fair market value of all of the
                assets of
                the Company immediately prior to such acquisition or
                acquisitions.

            

    

    

    
      	 	
              Reference
                to the Company under this Section 2.6 also shall mean Affiliates for
                whom a Participant is providing services at the time of a Change
                in
                Control affecting such Affiliate.

            

    

    

    
      	 	
              The
                determination as to the occurrence of a Change in Control shall be
                based
                on objective facts and in accordance with the requirements of Code
                Section 409A.

            

    

    

    
      	
              2.7

            	
              Claimant.
                Claimant means a Participant or Beneficiary filing a claim under
                Article XII of this Plan.

            

    

    

    
      	
              2.8

            	
              Code.
                Code means the Internal Revenue Code of 1986, as amended from time
                to
                time.

            

    

    

    
      	
              2.9

            	
              Code
                Section 409A.
                Code Section 409A means Section 409A of the Code, and the
                regulations and other guidance issued by the Treasury Department
                and
                Internal Revenue Service
                thereunder.

            

    

    

    
      	
              2.10

            	
              Company.
                Company means Ball Corporation.

            

    

    

    
      	
              2.11

            	
              Company
                Award.
                Company Award means a credit by the Company to a Participant’s Account(s)
                in accordance with the provisions of Article VI of the Plan. Except
                as otherwise provided in Article VI, Company Awards are credited at
                the sole discretion of the Company and the fact that a Company Award
                is
                credited in one year shall not obligate the Company to continue to
                make
                such Company Award in subsequent
                years.

            

    

    

    
      	
              2.12

            	
              Company
                Stock.
                Company Stock means the common stock of Ball
                Corporation.

            

    

    

    
      	
              2.13

            	
              Compensation.
                Compensation means a Participant’s annual incentive awards. Compensation
                may also include such other cash or equity-based compensation, (if
                any)
                that is determined by the HR Committee of the Board of Directors,
                in its
                sole discretion, as eligible for deferral under the terms of this
                Plan.
                Compensation for Directors includes the non-equity portion of the
                Annual
                Incentive Retainer and other compensation for services performed
                as a
                Director. Compensation shall not include any compensation that has
                been
                previously deferred under this Plan or any other arrangement subject
                to
                Code Section 409A, or accounts maintained under the Grandfathered
                Plans.

            

    

    

    
      	
              2.14

            	
              Death
                Benefit.
                Death Benefit means payment to a Participant’s Beneficiary(ies) due to the
                death of the Participant. Death Benefits will be paid in accordance
                with
                Section 8.2.

            

    

    

    
      	
              2.15

            	
              Deferral.
                Deferral means the credits to a Participant’s Accounts attributable to
                deferrals of Compensation described in Prop. Treas. Reg.
                Section 1.409A-1(b)(1) and Earnings on such amounts as provided in
                Prop. Treas. Reg. Section 1.409A-1(b)(2), except where the context of
                the Plan clearly indicates
                otherwise.

            

    

    

    
      
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        Ball
          Corporation 2005 Deferred Compensation Company Stock Plan

        

        

      

    

    
      	
              2.16

            	
              Deferral
                Election.
                Deferral Election means an agreement between a Participant and the
                Company
                specifying any or all of the following: (i) the amount of each
                component of Compensation subject to the Deferral Election; and
                (ii) Payment Schedule. The Plan Administrator may permit different
                deferral amounts for each component of Compensation and may establish
                a
                minimum or maximum deferral amount for each such
                component.

            

    

    

    
      	 	
              A
                Deferral Election must be submitted to the Company in accordance
                with the
                Plan and under procedures established by the Plan Administrator from
                time
                to time. A Deferral Election may be modified as described in
                Article V if such modification is submitted to the Company in
                accordance with the terms of this Plan and procedures adopted by
                the Plan
                Administrator.

            

    

    

    
      	 	
              The
                Plan Administrator may reduce a Participant’s Deferral Election as
                necessary to permit sufficient non-deferred Compensation from which
                the
                Company may satisfy a Participant’s obligations regarding welfare plans
                and from which to satisfy tax withholding obligations, and/or to
                conform
                the Deferral Election and the Plan to applicable
                law.

            

    

    

    
      	
              2.17

            	
              Director.
                Director means a non-employee member of the Board of Directors of
                the
                Company.

            

    

    

    
      	
              2.18

            	
              Disability.
                Disability means disability under the Company’s long-term disability
                programs for Eligible Employees.

            

    

    

    
      	
              2.19

            	
              Dividend.
                Dividend means an amount credited to an Account concurrent with the
                quarterly dividend payable with respect to Company Stock. The amount
                of
                such credit will equal the number of Units credited to such Account
                as of
                the record date for determining dividends payable to shareholders
                of the
                Company multiplied by the amount of quarterly dividend payable with
                respect to one share of Company
                Stock.

            

    

    

    
      	
              2.20

            	
              Earnings.
                Earnings means an adjustment to the value of an Account in accordance
                with
                Article VII.

            

    

    

    
      	
              2.21

            	
              Effective
                Date.
                Effective Date means January 1, 2005, with respect to Compensation
                “deferred” on or after such date. Deferrals of Compensation that was
                earned and vested as of December 31, 2004, and credited to a
                Participant’s account under the Ball Corporation 2000 Deferred
                Compensation Company Stock Plan and predecessor plans shall not be
                subject
                to this Plan, even if such deferrals were credited after December 31,
                2004.

            

    

    

    
      	
              2.22

            	
              Eligible
                Employee.
                Eligible Employee means a member of a “select group of management or
                highly compensated employees” of the Company or an Affiliate within the
                meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA, as
                determined by the HR Committee of the Board of Directors (or the
                Plan
                Administrator, if such authority is delegated by the HR Committee)
                from
                time to time in its sole discretion. An Eligible
                

            

    

    
      
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        Ball
          Corporation 2005 Deferred Compensation Company Stock Plan

        

        

      

    

    
      	 	
              Employee
                shall also include any member of the Company’s Board of Directors, as the
                context requires.

            

    

    

    
      	
              2.23

            	
              Employee.
                Employee means an employee of the Company and any former employee
                who
                continues to provide services to the Company pursuant to Prop. Treas.
                Reg.
                Section 1.409A-1(h)(1)(ii).

            

    

    

    
      	
              2.24

            	
              ERISA.
                ERISA means the Employee Retirement Income Security Act of 1974,
                as
                amended from time to time.

            

    

    

    
      	
              2.25

            	
              Participant.
                Participant means an Eligible Employee who has received notification
                of
                his or her eligibility to defer Compensation under the Plan under
                Section 3.1 and any other person with an Account Balance greater than
                zero, regardless of whether such individual continues to be an Eligible
                Employee or a Director. A Participant’s continued participation in the
                Plan shall be governed by Section 3.2 and Section 3.3 of the
                Plan.

            

    

    

    
      	
              2.26

            	
              Payment
                Schedule.
                Payment Schedule means the date as of which payment under the Plan
                will
                commence and the form in which such payment will be
                made.

            

    

    

    
      	 	
              (a)

            	
              Separation
                Payments. A
                Participant may elect a Deferral Election that establishes a Separation
                Account the number of years following Separation from Service when
                payment
                will be made from the Account (e.g., “Third year following Separation from
                Service”). Subject to the payment rules set forth below, payment under
                such an election will be made on or after January 1 of the specified
                year. If no payment year is specified, payment will be made in the
                year
                following the year in which the Participant’s Separation from Service
                occurs.

            

    

    

    
      	 	 	
              The
                following rules apply to any Payment Schedule commencing in the year
                following the year in which a Participant’s Separation from Service
                occurs. If the Separation from Service occurs prior to July 1,
                payment will be made on or after January 1 of the following year. If
                the Separation from Service occurs on or after July 1, payment will
                be made on or after July 1 of the following year. Payments delayed to
                a date later than the dates specified in the preceding sentence pursuant
                to the provisions of Sections 8.4 and 8.8 will be treated as payments
                made as of such specified dates.

            

    

    

    
      	 	 	
              Payment
                will be made in a single lump sum unless the Participant specifies
                an
                alternative form of payment in the Deferral Election establishing
                a
                Separation Account. Alternative forms of payment include (i) a lump
                sum payment between 0% and 100% of the Account Balance and (ii) any
                remaining Account Balance payable in a series of substantially equal
                annual installments from two (2) to fifteen (15) years. For purposes
                of
                Article V, (i) each lump sum payment and (ii) each series
                of substantially equal installments will be treated as separate forms
                of
                payment and any series of substantially equal annual installments
                will be
                treated as a single form of payment. If a partial lump sum is paid,
                and
                unless the Participant specifies an alternative commencement date
                for the
                installment 

            

    

    
      
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              payments
                or modifies the installments pursuant to Article V, the payment
                commencement date for the installments will be the first anniversary
                of
                the lump sum payment commencement
                date.

            

    

    

    
      	 	 	
              Notwithstanding
                the foregoing, if a Participant Separates from Service prior to attaining
                age 55, he or she will receive all Account Balances in a single lump
                sum,
                commencing in the year following the year in which the Separation
                from
                Service occurs. Participants may not file an election under Article V
                to modify the time or form of a payment described in this
                paragraph.

            

    

    

    
      	 	
              (b)

            	
              Death
                Payments.
                Payment will be made from all Accounts according to the Payment Schedule
                in effect for each such Account, except that the commencement date
                under
                such Payment Schedules on or after January 1 of the year following
                the year in which the Participant’s death
                occurs.

            

    

    

    
      	
              2.27

            	
              Performance-Based
                Compensation.
                Performance-Based Compensation means Compensation where the amount
                of, or
                entitlement to, the Compensation is contingent on the satisfaction
                of
                preestablished organizational or individual performance criteria
                relating
                to a performance period of at least twelve (12) consecutive months
                in
                which the Participant performs services for the Company. Organizational
                or
                individual performance criteria are considered preestablished if
                established not later than ninety (90) days after the commencement
                of the
                period of service to which the criteria relate, provided that the
                outcome
                is substantially uncertain at the time the criteria are established.
                Performance-Based Compensation may include payments based on performance
                criteria that are not approved by the Board of Directors, a committee
                of
                the Board or by the stockholders of the Company. Performance-Based
                Compensation does not include any amount or portion of any amount
                that
                will be paid either regardless of performance, or based upon a level
                of
                performance that is substantially certain to be met at the time the
                criteria is established. Performance criteria may be subjective but
                must
                relate to the performance of the Participant, a group of Employees
                that
                includes the Participant or a business unit (which may include the
                Company) for which the Participant provides services. For a Director,
                the
                performance criteria must relate to the performance of such Director,
                a
                Directors’ committee on which such Director serves or the Board of
                Directors as a whole. The determination that any subjective performance
                criteria have been met shall not be made by the Participant or by
                a family
                member of the Participant, or by a person under the supervision of
                the
                Participant or a Participant’s family members where any amount of the
                compensation of such person is controlled in whole or in part by
                the
                Participant or such family member. Compensation based on Company
                stock
                performance may constitute Performance-Based Compensation if it is
                based
                solely on an increase in the value of such stock after the date of
                grant
                or award. The determination of whether Compensation qualifies as
                “Performance-Based Compensation” will be made in accordance with Prop.
                Treas. Reg. Section 1.409A-1(e) and subsequent
                guidance.

            

    

    

    
      	
              2.28

            	
              Plan.
                Plan means the Ball Corporation 2005 Deferred Compensation Company
                Stock
                Plan, as amended from time to time.

            

    

    

    
      
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        Ball
          Corporation 2005 Deferred Compensation Company Stock Plan

        

        

      

    

    
      	
              2.29

            	
              Plan
                Administrator.
                Plan Administrator means the Deferred Compensation Committee of the
                Company, acting pursuant to the powers and authority granted under
                Section 9.1 of the Plan.

            

    

    

    
      	
              2.30

            	
              Plan
                Year.
                Plan Year means January 1 through
                December 31.

            

    

    

    
      	
              2.31

            	
              Separation
                Account.
                Separation Account means an Account established under a Deferral
                Election,
                as described in Section 4.4 to record an amount payable to a
                Participant due to his or her Separation from Service and the year
                in
                which payment from such Separation Account will be made. A Participant
                may
                establish and maintain at any one time no more than the maximum number
                of
                Separation Accounts specified by the Plan
                Administrator.

            

    

    

    
      	
              2.32

            	
              Separation
                from Service.
                An Employee incurs a Separation from Service upon termination of
                employment with the Company. A Director incurs a Separation from
                Service
                as of the first day on which he or she no longer performs services
                for the
                Company as a Director. The occurrence of a Separation from Service
                is
                determined by the Plan Administrator under the facts and circumstances,
                in
                accordance with Code Section 409A and the following
                provisions.

            

    

    

    
      	 	
              (a)

            	
              Leaves
                of Absence.
                A
                Participant remains an Employee or Director during military leave,
                sick
                leave, or other bona
                fide
                leave of absence (such as temporary employment by the government)
                if the
                period of such leave does not exceed six (6) months or such longer
                period
                as is provided either by statute or by contract. If the period of
                leave
                exceeds six (6) months and the Participant’s right to reemployment after
                such extended leave is not provided either by statute or by contract,
                the
                employment relationship is deemed to terminate on the first day
                immediately following such six (6)-month period. In this regard,
                a
                Participant who is an Eligible Employee at the time he or she is
                placed on
                disability leave of absence in accordance with the Company’s policies and
                procedures shall continue to be an Employee and shall not incur a
                Separation from Service until the earlier of (i) termination of
                employment, (ii) attainment of age 65, or (iii) the
                Participant’s death.

            

    

    

    
      	 	
              (b)

            	
              Continuing
                Services Post-Employment. A
                former Employee or Director shall not be considered to have terminated
                employment if he or she continues to provide more than “insignificant
                services” as defined in Prop. Treas. Reg.
                Section 1.409A-1(h)(ii).

            

    

    

    
      	 	
              (c)

            	
              Sale
                of Assets. A
                Separation from Service shall not include a termination of employment
                provided under the terms of a sale of assets of the Company or an
                Affiliate if (i) the purchaser hires the Participant as an employee
                or other service provider upon the closing of the transaction and
                (ii) the purchaser assumes the liability under the Plan for payment
                of such Participant’s Accounts.

            

    

    

    
      	
              2.33

            	
              Substantial
                Risk of Forfeiture.
                Substantial Risk of Forfeiture shall have the meaning specified in
                Prop.
                Treas. Reg.
                Section 1.409A-1(d).

            

    

    
      
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              2.34

            	
              Unforeseeable
                Emergency.
                An Unforeseeable Emergency is a severe financial hardship of the
                Participant or Beneficiary resulting from an illness or accident
                of the
                Participant or Beneficiary, the Participant’s or Beneficiary’s spouse, or
                the Participant’s or Beneficiary’s dependent (as defined in Code
                Section 152(a)); loss of the Participant’s or Beneficiary’s property
                due to casualty (including the need to rebuild a home following damage
                to
                a home not otherwise covered by insurance, for example, not as a
                result of
                a natural disaster); or other similar extraordinary and unforeseeable
                circumstances arising as a result of events beyond the control of
                the
                Participant or Beneficiary. For example, the imminent foreclosure
                of or
                eviction from the Participant’s or Beneficiary’s primary residence may
                constitute an Unforeseeable Emergency. In addition, the need to pay
                for
                medical expenses, including nonrefundable deductibles, as well as
                for the
                costs of prescription drug medication, may constitute an Unforeseeable
                Emergency. Finally, the need to pay for the funeral expenses of a
                spouse
                or a dependent (as defined in Code Section 152(a)) may also
                constitute an Unforeseeable Emergency. Except as otherwise provided
                in
                this Section, the purchase of a home and the payment of college tuition
                are not Unforeseeable Emergencies. Whether a Participant or Beneficiary
                is
                faced with an Unforeseeable Emergency permitting a distribution under
                Section 8.3 of the Plan is to be determined by the Plan Administrator
                based on the relevant facts and circumstances of each case, but,
                in any
                case, a distribution on account of Unforeseeable Emergency may not
                be made
                to the extent that such emergency is or may be reimbursed through
                insurance or otherwise, by liquidation of the Participant’s assets, to the
                extent the liquidation of such assets would not cause severe financial
                hardship, or by cessation of deferrals under this
                Plan.

            

    

    

    
      	
              2.35

            	
              Unit.
                Unit means the Units credited to a Participant’s Accounts pursuant to
                Article VII. For valuation and distribution purposes, each Unit shall
                be equivalent to one share of Company Stock as of the applicable
                Valuation
                Date. All Deferrals and Company Awards shall be credited to a
                Participant’s Accounts in Units, or fractional Units, with each Unit
                having a value equivalent to one share of Company Stock. With respect
                to
                any amount credited to a Participant’s Accounts as of January 1 in
                any year, the number of such credited Units shall be determined by
                dividing the amount credited to the Participant’s Account (including any
                related matching contributions) by the closing price of one share
                of
                Company Stock indicated in the New York Stock Exchange Composite
                Listing as of the preceding Business Day. With respect to any amount
                credited to a Participant’s Accounts (including any related matching
                contributions) as of any day of the year other than January 1, the
                number of such credited Units shall be determined based on the closing
                price of one share of Company Stock indicated in the New York Stock
                Exchange Composite Listing as of the Business Day on which the Deferral
                is
                credited.

            

    

    

    
      	
              2.36

            	
              Changes
                in Capitalization.
                If there is any change in the number or class of shares of Company
                Stock
                through the declaration of a stock dividend or other extraordinary
                dividends, or recapitalization resulting in stock splits, or combinations
                or exchanges of such shares or in the event of similar corporate
                transactions, the Units in each Participant’s Deferred Compensation
                Account shall be equitably adjusted to reflect any
                

            

    

    
      
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              such
                change in the number or class of issued shares of Company Stock or
                to
                reflect such similar corporate
                transaction.

            

    

    

    
      	
              2.37

            	
              Valuation
                Date.
                Valuation Date shall mean each Business Day selected by the Plan
                Administrator, in its discretion, for determining the value of
                Accounts.

            

    

    

    

    Article III

    Eligibility
      and Participation

    

    
      	
              3.1

            	
              Eligibility
                and Participation.
                An Eligible Employee becomes eligible to file a Deferral Election
                upon
                receipt of notification of eligibility from the Plan Administrator.
                Such
                Eligible Employee becomes a Participant upon the earlier to occur
                of
                (i) a credit of Company Awards under Article VI or
                (ii) filing his or her initial Deferral Election in accordance with
                Article IV. A Director becomes eligible to file a Deferral Election
                upon acceptance of his or her appointment as a
                Director.

            

    

    

    
      	
              3.2

            	
              Duration.
                A
                Participant shall be eligible to defer Compensation and receive
                allocations of Company Awards, subject to the terms of the Plan,
                for as
                long as such Participant is an Eligible Employee or Director. A
                Participant who is no longer an Eligible Employee but continues to
                be
                employed by the Company may not defer Compensation but may otherwise
                exercise all of the rights of a Participant under the Plan with respect
                to
                his or her Accounts. On and after a Separation from Service, a Participant
                shall remain a Participant as long as his or her Accounts are greater
                than
                zero and during such time may continue to make investment elections
                under
                Article VII. An individual shall cease participation in the Plan when
                all benefits under the Plan to which he or she is entitled have been
                paid.

            

    

    

    
      	
              3.3

            	
              Revocation
                of Future Participation.
                Notwithstanding the provisions of Section 3.2, the Plan Administrator
                may, in its discretion, revoke such Participant’s eligibility to make
                future deferrals under this Plan. Such revocation will not affect
                in any
                manner a Participant’s Accounts or other terms of this
                Plan.

            

    

    

    

    Article IV

    Deferral
      Elections

    

    
      	
              4.1

            	
              Deferral
                Elections, Generally.
                An Eligible Employee or Director shall make a Deferral Election by
                completing and submitting a deferral agreement during the enrollment
                periods established by the Plan Administrator and in the manner specified
                by the Plan Administrator. The Deferral Election shall designate
                a dollar
                amount or whole percentage of Compensation to be
                deferred.

            

    

    

    
      	 	
              Deferral
                Elections are considered to be effective on the date they become
                irrevocable as of the dates set forth in Section 4.2 unless the form
                of Deferral Agreement provided by

            

    

    
      
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              the
                Plan Administrator specifies an earlier date. Notwithstanding the
                foregoing, a Deferral Election may be suspended in the event of an
                Unforeseeable Emergency (regardless of whether a payment is made
                to the
                Participant due to such Unforeseeable Emergency). A Deferral Election
                that
                is not timely filed with respect to a service period or component
                of
                Compensation shall be considered void and shall have no effect with
                respect to such service period or
                Compensation.

            

    

    

    
      	 	
              The
                HR Committee of the Board of Directors, in its sole discretion, may
                specify the components of Compensation subject to deferral. The Plan
                Administrator may establish a minimum or maximum deferral amount
                for each
                component of Compensation and the timing of submission of Deferral
                Elections with respect to such
                Compensation.

            

    

    

    
      	
              4.2

            	
              Timing
                Requirements for Deferral Elections.

            

    

    

    
      	 	
              (a)

            	
              First
                Year of Eligibility.
                An
                Eligible Employee may submit a Deferral Election within thirty (30)
                days
                of receipt of the notification of his eligible status under
                Section 3.1. A Director may submit a Deferral Election within thirty
                (30) days of accepting his or her appointment as a Director. The
                Deferral
                Election described in this paragraph becomes irrevocable on the first
                day
                following such 30th day. An Eligible Employee or Director may file
                a
                Deferral Election under this Section 4.2(a) only if he or she does
                not participate in any other “account balance plan” as defined in Prop.
                Treas. Reg. Section 1.409A-1(c)(i)(A) maintained by the Company or an
                Affiliate, other than as permitted in Prop. Treas. Reg.
                Section 1.409A-1(c)(ii).

            

    

    

    
      	 	 	
              A
                Deferral Election filed under this Section 4.2(a) applies to
                Compensation earned on and after the date the Deferral Election becomes
                irrevocable. For Compensation that is earned based upon a specified
                performance period (e.g., over a calendar year), where a Deferral
                Election
                is made in the first year of eligibility but after the beginning
                of the
                service period, the election will be deemed to apply to Compensation
                paid
                for services performed subsequent to the election if the election
                applies
                to the portion of the Compensation equal to the total amount of the
                Compensation for the service period multiplied by the ratio of the
                number
                of days remaining in the performance period after the Deferral Election
                becomes irrevocable over the total number of days in the service
                period.

            

    

    

    
      	 	 	
              Eligibility
                to submit a Deferral Election during the thirty (30)-day period specified
                in this Section 4.2(a) shall not preclude an Eligible Employee from
                also filing any Deferral Elections in accordance with Section 4.2(b)
                through (g) during or after such thirty (30)-day
                period.

            

    

    

    
      	 	
              (b)

            	
              Salary
                and Other Non-Performance-Based Compensation.
                Subject to the authority of the HR Committee of the Board of Directors
                to
                identify deferrable components of Compensation under Section 4.1 and
                the Plan Administrator’s authority to establish maximum and minimum
                deferrals under Sections 2.16 and 4.1, a Participant may defer salary
                and other non-Performance-Based

            

    

    
      
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              Compensation
                by filing a Deferral Election no later than December 31 of the year
                prior to the year in which such Compensation is earned. A Deferral
                Election described in this paragraph shall become irrevocable with
                respect
                to such Compensation as of January 1 of the year in which such
                Compensation is earned.

            

    

    

    
      	 	
              (c)

            	
              Performance-Based
                Compensation.
                A
                Deferral Election may be filed with respect to Performance-Based
                Compensation, provided that:

            

    

    

    
      	 	
              (1)

            	
              the
                Participant performs services continuously from a date no later than
                the
                date upon which the performance criteria for such Performance-Based
                Compensation are established through a date no earlier than the date
                upon
                which the Participant submits a Deferral
                Election;

            

    

    

    
      	 	
              (2)

            	
              the
                Deferral Election is submitted at the times and in the manner established
                by the Plan Administrator, but in no event later than the date that
                is six
                (6) months before the end of the performance period during which
                such
                Performance-Based Compensation is earned;
                and

            

    

    

    
      	 	
              (3)

            	
              in
                no event may an election to defer Performance-Based Compensation
                be made
                after such Performance-Based Compensation has become both substantially
                certain to be paid and readily
                ascertainable.

            

    

    

    
      	 	 	
              A
                Deferral Election becomes irrevocable with respect to Performance-Based
                Compensation as of the day immediately following the latest date
                described
                in paragraph (c)(2).

            

    

    

    
      	 	 	
              Nothing
                in Section 4.2(a) shall preclude an Eligible Employee from filing a
                Deferral Election in his initial year of eligibility under this
                Section 4.2(c), even if such election is made later than thirty (30)
                days after notification of eligibility under
                Section 3.1.

            

    

    

    
      	 	
              (d)

            	
              Short-Term
                Deferrals.
                Compensation that meets the definition of a “short-term deferral”
                described in Prop. Treas. Reg. Section 1.409A-1(b)(4) may be deferred
                under a Deferral Election filed not later than twelve (12) months
                prior to
                the date on which the substantial risk of forfeiture lapses. The
                Payment
                Schedule for such Deferral must specify a commencement date no earlier
                than five (5) years after the forfeiture restriction
                lapses.

            

    

    

    
      	 	
              (e)

            	
              Deferral
                Election With Respect to Certain Forfeitable
                Rights.
                With respect to a legally binding right to a payment in a subsequent
                year
                that is subject to a forfeiture condition requiring the Participant’s
                continued services for a period of at least twelve (12) months from
                the
                date the Participant obtains the legally binding right, an election
                to
                defer such Compensation may be made on or before the 30th day after
                the
                Participant obtains the legally binding right to the Compensation,
                provided that the election is made at least twelve (12) months in
                advance
                of the earliest date at which the forfeiture condition could lapse.
                The
                

            

    

    
      
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              Deferral
                Election described in this paragraph becomes irrevocable after such
                30th
                day.

            

    

    

    
      	 	
              (f)

            	
              Deferral
                Under Non-Elective Arrangement.
                An
                arrangement satisfying the requirements of Prop. Treas. Reg.
                Section 1.409A-2(a)(12) shall be treated as a valid Deferral Election
                subject to the terms of the Plan if such agreement (i) incorporates
                the provisions of this Plan document by reference or conduct, (ii) is
                classified as an “individual account plan” under Code Section 409A,
                and (iii) otherwise complies with Code
                Section 409A.

            

    

    

    
      	 	
              (g)

            	
              2005
                Elections.
                The Plan Administrator has the authority, effective January 1, 2005,
                to allow any or all Participants to make or modify a Deferral Election
                with respect to deferrals subject to Code Section 409A, which relate
                all or in part to services performed prior to December 31, 2005. Such
                election or modification must be filed with the Plan Administrator
                no
                later than March 15, 2005.

            

    

    

    
      	
              4.3

            	
              “Evergreen”
                Deferral Elections.
                The Plan Administrator may provide in the form of Deferral Election
                that
                such Deferral Election remain in effect until terminated or modified
                by
                the Participant. Such “evergreen” Deferral Elections become effective with
                respect to an item of Compensation on the date such election becomes
                irrevocable under Section 4.2. A Participant whose Deferral Election
                is suspended due to an Unforeseeable Emergency will be required to
                file a
                new Deferral Election under this Article IV in order to continue
                making Deferrals under the Plan.

            

    

    

    
      	
              4.4

            	
              Separation
                Account Elections.
                A
                Participant’s Deferral Election may establish one or more Separation
                Accounts (up to the maximum number of such Accounts established by
                the
                Plan Administrator) from which payment will be made due to a Participant’s
                Separation from Service. The Deferral Election establishing a Separation
                Account shall specify the Payment Schedule for such
                Account.

            

    

    

    
      	
              4.5

            	
              Unspecified
                Deferral Allocations.
                Deferrals that are not allocated to a Separation Account under the
                terms
                of a Deferral Election will be allocated to the Separation Account
                with
                the earliest payment commencement year. If a Separation Account has
                not
                been established, the Plan Administrator shall establish a Separation
                Account to receive such Deferrals. Subject to the modification rules
                under
                Article V, such Account will be payable in a single lump sum in the
                year following the year in which the Participant’s Separation from Service
                occurs.

            

    

    

    
      	
              4.6

            	
              Deductions
                from Pay.
                The Plan Administrator has the authority to determine the payroll
                practices under which any component of Compensation subject to a
                Deferral
                election will be deducted from a Participant’s
                Compensation.

            

    

    

    

    
      
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    Article V

    Modifications
      to Payment Schedules

    

    
      	
              5.1

            	
              Participant’s
                Right to Modify.
                Subject to Section 5.2, a Participant may modify the Payment Schedule
                with respect to an Account, provided such modification complies with
                the
                requirements of Sections 5.1(a) and
                (b).

            

    

    

    
      	 	
              (a)

            	
              Time
                of Election. The
                date on which a modification election is submitted to the Plan
                Administrator must be at least twelve (12) months prior to the
                January 1 or July 1 on which payment commences under the Payment
                Schedule in effect prior to modification, and (ii) the date payments
                commence under the modified Payment Schedule occurs no earlier than
                five
                (5) years after the January 1 or July 1 of the year the payment
                would have commenced under the Payment Schedule in effect prior to
                the
                effective date of the modification. Under no circumstances may a
                modification election result in an acceleration of payments in violation
                of Code Section 409A.

            

    

    

    
      	 	
              (b)

            	
              Effective
                Date. A
                modification election described in Section 5.1(a) becomes effective
                on the date that is twelve (12) months after the date the modification
                is
                filed with the Plan Administrator. Until such modification election
                becomes effective, payment will be made in accordance with the Payment
                Schedule in effect prior to such
                modification.

            

    

    

    
      	 	
              (c)

            	
              Effect
                on Other Accounts. An
                election to modify a Payment Schedule is specific to the Specified
                Date or
                Separation Account to which it applies, and shall not be construed
                to
                affect the Payment Schedules of any other
                Accounts.

            

    

    

    
      	 	
              (d)

            	
              Effect
                of Modification Election Upon Death or Unforeseeable
                Emergency.
                A
                modification election described in this Section shall have no effect
                on
                the commencement date of payments due to death or Unforeseeable
                Emergency.

            

    

    

    
      	
              5.2

            	
              Modifications
                Authorized Under Notice 2005-1 and Proposed Regulations.
                Notwithstanding any provision of this Plan to the contrary, during
                calendar years 2005 and 2006, a Participant may modify any Payment
                Schedule of any Account without regard to the requirements of
                Section 5.1(a) and (b); provided, however, that any modification
                election submitted during 2006 purporting to modify an Account with
                a
                Payment Schedule commencing during 2006 or which would cause the
                commencement date of the Payment Schedule for an Account to be accelerated
                into 2006 shall be null and void to the extent such election is
                inconsistent with this paragraph. The Plan Administrator has the
                authority
                to prescribe the time and manner under which such modifications may
                be
                made.

            

    

    

    

    
      
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    Article VI

    Company
      Awards

    

    
      	
              6.1

            	
              Company
                Awards.
                The HR Committee of the Board of Directors, or the Plan Administrator
                if
                such authority is delegated, may, in its sole and absolute discretion,
                authorize Company Awards to one, some, or all of the Participant(s)
                in an
                amount determined in its sole and absolute discretion. A Company
                Award may
                be made at any time during the calendar year and may consist of “matching”
                contributions. The HR Committee of the Board of Directors or its
                delegate
                shall be under no obligation to make contributions to the Plan unless
                the
                Company has entered into a separate agreement (such as an employment
                agreement) to make such
                contributions.

            

    

    

    
      	
              6.2

            	
              Vesting.
                Company Awards and the Earnings thereon, shall vest in accordance
                with the
                vesting schedule(s) established by the Plan Administrator at the
                time that
                the Company Award is made. The unvested portion shall be forfeited
                upon
                Separation from Service. The Plan Administrator may, at any time,
                in its
                sole discretion, increase a Participant’s vested interest in a Company
                Award or restore any forfeiture. Notwithstanding the foregoing, any
                decision to accelerate vesting with respect to a Participant subject
                to
                SEC Rule 16b shall be approved by the HR Committee of the Board of
                Directors.

            

    

    

    

    Article VII

    Valuation
      of Account Balances; Earnings

    

    
      	
              7.1

            	
              Valuation.
                A
                Participant’s Accounts shall be valued on each Business Day as
                follows:

            

    

    

    
      	 	
              (a)

            	
              Crediting
                Deferrals and Dividends. Deferrals
                of annual incentive awards (and any related matching contributions
                specified on Schedule A) shall be credited to the applicable
                Participant Accounts and converted to Units as of the January 1
                following the year in which services were performed. Deferrals pertaining
                to forms of Compensation other than annual incentive awards shall
                be
                credited to the applicable Participant’s Accounts as of the day such
                Compensation otherwise would have been paid and shall be converted
                to
                Units as of such date. Dividends shall be credited to the applicable
                Participant Accounts as of the dividend payment date for Company
                Stock.

            

    

    

    
      	 	
              (b)

            	
              Conversion
                to Units. Amounts
                credited to a Participant’s Account shall be converted to Units. In the
                case of annual incentive awards and any related matching contributions,
                the number of Units shall be determined by dividing the amount credited
                to
                the Participant’s account on such day by the closing price of one share of
                Company Stock indicated in the New York Stock Exchange Composite
                Listing as of the preceding Business Day. For all other Deferrals,
                Units
                shall be determined using the closing price on the same day on which
                the
                Deferral is credited to the Participant’s
                Accounts.

            

    

    

    
      
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              (c)

            	
              Payments
                and Forfeitures. The
                number of Units shall be reduced to reflect payments and any forfeitures
                from the applicable Participant Account(s) on such
                day.

            

    

    

    
      	 	
              (d)

            	
              Earnings.
                After
                the adjustments described in (a) through (c) above, a Participant’s
                Accounts will be adjusted as of the close of business on such day
                and each
                subsequent Business Day to reflect the total value of Units credited
                to
                such Accounts. The value of each such Account shall be determined
                by
                multiplying the total number of Units and fractions thereof credited
                to
                each Account by the closing price of one share of Company Stock indicated
                in the New York Stock Exchange Composite Listing as of each Business
                Day.

            

    

    

    

    Article VIII

    Distributions
      and Withdrawals

    

    
      	
              8.1

            	
              Separation
                Account Payments.
                Payments will be made from all Separation Accounts according to the
                Payment Schedule specified in Section 2.26(a). The amount of the
                payments will be based on the Separation Account Balance and will
                be paid
                in accordance with the provisions of
                Section 8.4.

            

    

    

    
      	
              8.2

            	
              Death
                Benefit.
                If payments have commenced from a Participant’s Accounts as of the time of
                the Participant’s death, the Beneficiary(ies) will continue to receive the
                remaining payments under the Payment Schedule in effect for such
                Account.
                If payments have not commenced from an Account, payment will be made
                in
                accordance with the Payment Schedule for a death benefit described
                in
                Section 2.26(b).

            

    

    

    
      	
              8.3

            	
              Unforeseeable
                Emergency.
                A
                Participant may submit a written request to the Plan Administrator
                to
                receive a distribution from his or her Account Balance(s) if the
                Participant experiences an Unforeseeable Emergency. Distributions
                of
                amounts in the event of an Unforeseeable Emergency are limited to
                the
                extent reasonably needed to satisfy the emergency need which cannot
                be met
                with other resources of the Participant. The amount of such distribution
                shall be subtracted first from the Participant’s Separation Account with
                the latest payment commencement date until depleted and then from
                the next
                latest Separation Accounts and then Specified Date
                Accounts.

            

    

    

    
      	 	
              A
                withdrawal by a Participant who is a “16b Officer” must be approved by the
                HR Committee of the Board of
                Directors.

            

    

    

    
      	
              8.4

            	
              Valuation
                and Payment.
                Payment of benefits under the Plan will be based on the valuation
                of the
                applicable Account Balance as of the Valuation Date specified by
                the Plan
                Administrator in its discretion. Benefits payable shall be paid in
                Company
                Stock with one share distributed for each unit credited. All fractional
                shares will be payable in cash.

            

    

    

    
      
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              Payment
                is treated as made upon the payment commencement date under the applicable
                Payment Schedule if the payment is made on or after such date in
                the same
                calendar year or, if later, by the 15th day of the third calendar
                month
                following the date specified under the arrangement. If a calculation
                of
                the amount of the payment is not administratively practical due to
                events
                beyond the control of the Participant, the payment will be treated
                as made
                upon the date specified under the Payment Schedule if the payment
                is made
                during the first calendar year in which the payment becomes
                administratively practicable.

            

    

    

    
      	
              8.5

            	
              Installments;
                Declining Balance Calculation.
                If a Payment Schedule specifies installment payments, annual payments
                will
                be made beginning as of the payment commencement date for such
                installments and shall continue on each anniversary thereof until
                the
                number of installment payments specified in the Payment Schedule
                has been
                paid. The amount of each installment payment shall be determined
                by
                dividing (a) by (b):

            

    

    

    
      	 	
              (a)

            	
              equals
                the Account Balance as of the Valuation Date
                and

            

    

    

    
      	 	
              (b)

            	
              equals
                the remaining number of installment
                payments.

            

    

    

    
      	
              8.6

            	
              “De
                Minimis Account” Balance.
                Any provision in this Plan to the contrary notwithstanding, payment
                to a
                Participant or Beneficiary will be made in a single lump sum, provided
                (i) the payment accompanies the entirety of the Participant’s
                interest in the Plan and all similar arrangements that constitute
                a
                nonqualified deferred compensation arrangement under Prop. Treas.
                Reg.
                Section 1.409A-1(c); (ii) the payment is made on or before the
                later of December 31 of the calendar year in which occurs the
                Participant’s Separation from Service, or the 15th day of the third month
                following the Participant’s Separation from Service; (iii) the payment is
                not greater than $25,000. Any Payment Schedule contrary to the provisions
                of this Section 8.6 shall be null and
                void.

            

    

    

    
      	
              8.7

            	
              Domestic
                Relations Order.
                Notwithstanding any benefit, Payment Schedule or other provision
                of this
                Plan regarding the time and form of payment, the Plan Administrator
                may
                pay all or a portion of a Participant’s Accounts to an “alternate payee”
                as specified under the terms of a domestic relations order (defined
                in
                Code Section 414(p)(1)(B)). If a time or form of payment is not
                specified in such order, payment will be made to such alternate payee(s)
                in a single lump sum as soon as is administratively practical following
                the Plan Administrator’s determination that the order meets the
                requirements of this
                Section 8.7.

            

    

    

    
      	
              8.8

            	
              Permissible
                Payment Delays.
                The Company may delay any payment to a Participant upon the Plan
                Administrator’s reasonable anticipation of one or more of the
                following:

            

    

    

    
      	 	
              (a)

            	
              The
                Company’s income tax deduction with respect to such payment would be
                limited or eliminated by application of Code Section 162(m);
                or

            

    

    

    
      	 	
              (b)

            	
              Making
                such payment would violate a term of a loan agreement to which the
                Company
                or an Affiliate is a party, or other similar contract to which the
                

            

    

    
      
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              Company,
                or an Affiliate, is a party, and such violation would cause material
                harm
                to the Company or an Affiliate; or

            

    

    

    
      	 	
              (c)

            	
              Making
                such payment would violate federal securities laws or other applicable
                law.

            

    

    

    

    Article IX

    Administration

    

    
      	
              9.1

            	
              Plan
                Administration.
                This Plan shall be administered by the Deferred Compensation Committee
                of
                the Company which shall act as the Plan Administrator. The Plan
                Administrator shall have discretionary authority to make, amend,
                interpret
                and enforce all appropriate rules and regulations for the administration
                of this Plan and to utilize its discretion to decide or resolve any
                and
                all questions, including but not limited to eligibility for benefits
                and
                interpretations of this Plan and its terms, as may arise in connection
                with the Plan. Claims for benefits shall be filed with the Plan
                Administrator and resolved in accordance with the claims procedures
                in
                Article XII. The Plan Administrator may exercise such additional
                powers and authority as may be delegated to the Plan Administrator
                by the
                HR Committee of the Board of Directors and such powers as are conferred
                under the terms of the Plan.

            

    

    

    
      	
              9.2

            	
              Administration
                Upon Change in Control.
                Upon a Change in Control the members of the HR Committee of the Board
                of
                Directors, as constituted immediately prior to such Change in Control,
                shall act as the Plan
                Administrator.

            

    

    

    
      	 	
              Upon
                such Change in Control, the management of the successor to the Company
                may
                not act, directly or indirectly, to remove the Plan Administrator,
                unless
                2/3rds of the members of the Board of Directors of the Company and
                a
                majority of Participants and Beneficiaries with Account Balances
                consent
                to the removal and replacement of the Plan Administrator. The individual
                who was the Chief Executive Officer of the Company (or if such person
                is
                unable or unwilling to act, the next highest ranking officer) prior
                to the
                Change in Control shall have the authority (but shall not be obligated)
                to
                appoint an independent third party to act as the Plan Administrator
                in
                lieu of the members of the HR Committee of the Board of Directors.
                Notwithstanding the foregoing, neither the members of the HR Committee
                of
                the Board of Directors nor the officer described above shall have
                authority to direct investment of trust assets under any rabbi trust
                described in Section 11.2.

            

    

    

    
      	 	
              The
                members of the HR Committee of the Board of Directors, acting as
                the Plan
                Administrator, shall have the exclusive authority to interpret the
                terms
                of the Plan and resolve claims under the claims procedure (except
                appeals
                brought by a Participant or
                Beneficiary).

            

    

    

    
      
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              The
                successor organization to the Company shall, with respect to the
                individuals acting as the Plan Administrator identified under this
                Section, (i) pay all reasonable expenses and fees of the Plan
                Administrator, (ii) indemnify the Plan Administrator (including
                individual members of the HR Committee of the Board of Directors)
                against
                any costs, expenses and liabilities including, without limitation,
                attorneys’ fees and expenses arising in connection with the performance of
                the Plan Administrator hereunder, except with respect to matters
                resulting
                from the Plan Administrator’s gross negligence or willful misconduct and
                (iii) supply full and timely information to the Plan Administrator on
                all matters related to the Plan, any rabbi trust, Participants,
                Beneficiary(ies) and Accounts as the Plan Administrator may reasonably
                require.

            

    

    

    
      	
              9.3

            	
              Withholding.
                The Company shall have the right to withhold from any payment due
                under
                the Plan (or any amount deferred into the Plan) any taxes required
                by law
                to be withheld in respect of such payment (or
                Deferral).

            

    

    

    
      	
              9.4

            	
              Indemnification.
                The Company shall indemnify and hold harmless each employee, officer,
                director, agent or organization, to whom or to which it delegated
                duties,
                responsibilities, and authority under the Plan or otherwise with
                respect
                to administration of the Plan, including, without limitation, the
                Plan
                Administrator, the HR Committee of the Board of Directors and their
                agents, against all claims, liabilities, fines and penalties, and
                all
                expenses reasonably incurred by or imposed upon him or it (including
                but
                not limited to reasonable attorney fees) which arise as a result
                of his or
                its actions or failure to act in connection with the operation and
                administration of the Plan to the extent lawfully allowable and to
                the
                extent that such claim, liability, fine, penalty, or expense is not
                paid
                for by liability insurance purchased or paid for by the Company.
                Notwithstanding the foregoing, the Company shall not indemnify any
                person
                or organization if his or its actions or failure to act are due to
                gross
                negligence or willful misconduct or for any such amount incurred
                through
                any settlement or compromise of any action unless the Company consents
                in
                writing to such settlement or
                compromise.

            

    

    

    
      	
              9.5

            	
              Expenses.
                The direct out of pocket expenses of administering the Plan shall
                be paid
                by the Company.

            

    

    

    
      	
              9.6

            	
              Delegation
                of Authority.
                In the administration of this Plan, the Plan Administrator may, from
                time
                to time, employ agents and delegate to them such administrative duties
                as
                it sees fit, and may from time to time consult with legal counsel
                who
                shall be legal counsel to the
                Company.

            

    

    

    
      	
              9.7

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

            

    

    

    

    
      
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    Article X

    Amendment
      and Termination

    

    
      	
              10.1

            	
              Amendment
                and Termination.
                The Plan is intended to be permanent, but the HR Committee of the
                Board of
                Directors of the Company may at any time and from time to time amend
                the
                Plan or may terminate the Plan as provided in this
                Section 10.1

            

    

    

    
      	 	
              (a)

            	
              Amendments.
                The
                Company, by action taken by the HR Committee of the Board of Directors,
                may amend the Plan at any time, provided that any such amendment
                shall not
                reduce the vested Account Balances of any Participant accrued as
                of the
                date of any such amendment or restatement (as if the Participant
                had
                incurred a voluntary Separation from Service on such date) or reduce
                any
                rights of a Participant under the Plan or other Plan features with
                respect
                to vested Deferrals made prior to the date of any such amendment
                or
                restatement without the consent of the Participant. The HR Committee
                of
                the Board of Directors of the Company may delegate to the Plan
                Administrator the authority to amend the Plan without the consent
                of the
                Board of Directors of the Company for the purpose of (i) conforming
                the Plan to the requirements of law, (ii) to facilitate
                administration, (iii) to clarify provisions based on the Plan
                Administrator’s interpretation of the document and (iv) to make such
                other amendments as the Board may
                authorize.

            

    

    

    
      	 	
              (b)

            	
              Termination.
                The Company, by action taken by the HR Committee of the Board of
                Directors, may terminate the Plan and pay Participants and Beneficiaries
                their Account Balances in a single lump sum under the following
                conditions:

            

    

    

    
      	 	
              (1)

            	
              Company’s
                Discretion.
                The Company may terminate the Plan in its discretion, provided that
                (i) all arrangements sponsored by the Company that would be
                aggregated with any terminated arrangement under Prop. Treas. Reg.
                Section 1.409A-1(c) if the same Participant participated in all of
                the arrangements, are terminated; (ii) no payments other than
                payments that would be payable under the terms of the arrangements
                if the
                termination had not occurred are made within twelve (12) months of
                the
                termination of the arrangements; (iii) all payments are made within
                twenty-four (24) months of the termination of the arrangements; and
                (iv) the Company or its Affiliates do not adopt a new arrangement
                that would be aggregated with any terminated arrangement under Prop.
                Treas. Reg. Section 1.409A-1(c) if the same Participant participated
                in both arrangements, at any time within five (5) years following
                the date
                of termination of the arrangement.

            

    

    

    
      	 	
              (2)

            	
              Change
                in Control.
                The Company may terminate the Plan within the thirty (30) days preceding
                or the twelve (12) months following a Change in Control (as defined
                in
                Prop. Treas. Reg. Section 1.409A-2(g)(4)(i)). For purposes of this
                paragraph, a Change in Control shall be defined as provided in Prop.
                Treas. Reg. Section 1.409A-2(g)(4)(i). The Plan is
                

            

    

    
      
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              considered
                terminated under this paragraph only if all substantially similar
                arrangements are terminated, and all participants under such arrangements
                are required to receive all amounts of compensation deferred under
                the
                terminated arrangements within twelve (12) months of the termination
                of
                such arrangements.

            

    

    

    
      	 	
              (3)

            	
              Dissolution;
                Bankruptcy Court Order.
                The Company may terminate the Plan within twelve (12) months of a
                corporate dissolution taxed under Code Section 331, or with the
                approval of a bankruptcy court pursuant to 11 U.S.C.
                Section 403(b)(1)(A), provided that the vested Account Balances are
                included in Participants’ gross incomes in the latest of (i) the
                calendar year in which the Plan terminates; (ii) the calendar year in
                which the amount is no longer subject to a substantial risk of forfeiture;
                or (iii) the first calendar year in which the payment is
                administratively practicable.

            

    

    

    
      	
              10.2

            	
              Accounts
                Taxable Under Code Section 409A.
                The Plan is intended to constitute a plan of deferred compensation
                that
                meets the requirements for deferral of income taxation under Code
                Section 409A. The Plan Administrator, pursuant to its authority to
                interpret the Plan, may sever from the Plan or any Deferral Election
                any
                provision or exercise of a right that otherwise would result in a
                violation of Code Section 409A. If, after application of the
                preceding sentence, the Plan Administrator determines that a Participant’s
                Accounts are taxable or if such Participant receives a notice of
                deficiency from the Internal Revenue Service due to a violation of
                Code
                Section 409A, such Participant will receive payment from his or her
                Accounts in a single lump sum. The amount of the payment shall not
                exceed
                the lesser of (i) the Participant’s Account Balance or (ii) an
                amount equal to the amount of income included in taxable income as
                a
                result of such violation, plus an additional amount, to the extent
                permissible under Treasury Department regulations, for penalties
                under
                Code Section 409A, other taxes and interest or other costs. Payment
                under this Section 10.2, including the amount of any taxes,
                penalties, interest or other costs, shall be applied against the
                    Participant’s Accounts and shall constitute fulfillment of the Company’s
                payment obligation to such Participant under the Plan to the extent
                of any
                such payments.

            

    

    

    

    Article XI

    Informal
      Funding

    

    
      	
              11.1

            	
              General
                Assets.
                Obligations established under the terms of the Plan may be satisfied
                from
                the general funds of the Company, an Affiliate, or a trust described
                in
                Section 11.2. No Participant, spouse or Beneficiary shall have any
                right, title or interest whatever in assets of the Company or an
                Affiliate. Nothing contained in this Plan, and no action taken pursuant
                to
                its provisions, shall create or be construed to create a trust of
                any
                kind, or a fiduciary relationship, between the Company or its Affiliates
                and any Employee, spouse, or Beneficiary. To the extent that any
                person
                acquires a right to receive 

            

    

    
      
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              payments
                from the Company hereunder, such rights are no greater than the right
                of
                an unsecured general creditor of the
                Company.

            

    

    

    
      	
              11.2

            	
              Rabbi
                Trust.
                The Company or an Affiliate may, at its sole discretion, establish
                a
                grantor trust, commonly known as a rabbi trust, as a vehicle for
                accumulating assets to pay benefits under the Plan. Payments under
                the
                Plan may be paid from the general assets of the Company or from the
                assets
                of any such rabbi trust. Payment from any such source shall reduce
                the
                Company’s obligation to the Participant or Beneficiary under the
                Plan.

            

    

    

    

    Article XII

    Claims

    

    
      	
              12.1

            	
              Filing
                a Claim.
                Any controversy or claim arising out of or relating to the Plan shall
                be
                filed in writing with the Plan Administrator which shall make all
                determinations concerning such claim. Any claim filed with the Plan
                Administrator and any decision by the Plan Administrator denying
                such
                claim shall be in writing and shall be delivered to the Participant
                or
                Beneficiary filing the claim
                (Claimant).

            

    

    

    
      	
              12.2

            	
              In
                General.
                Notice of a denial of benefits will be provided within ninety (90)
                days of
                the Plan Administrator’s receipt of the Claimant’s claim for benefits. If
                the Plan Administrator determines that it needs additional time to
                review
                the claim, the Plan Administrator will provide the Claimant with
                a notice
                of the extension before the end of the initial ninety (90)-day period.
                The
                extension will not be more than ninety (90) days from the end of
                the
                initial ninety (90)-day period and the notice of extension will explain
                the special circumstances that require the extension and the date
                by which
                the Plan Administrator expects to make a
                decision.

            

    

    

    
      	
              12.3

            	
              Contents
                of Notice.
                If a claim for benefits is completely or partially denied, notice
                of such
                denial shall be in writing and shall set forth the reasons for denial
                in
                plain language. The notice shall (i) cite the pertinent provisions of
                the Plan document and (ii) explain, where appropriate, how the
                Claimant can perfect the claim, including a description of any additional
                material or information necessary to complete the claim and why such
                material or information is necessary. The claim denial also shall
                include
                an explanation of the claims review procedures and the time limits
                applicable to such procedures, including a statement of the Claimant’s
                right to bring a civil action under Section 502(a) of ERISA following
                an adverse decision on review.

            

    

    

    
      	
              12.4

            	
              Appeal
                of Denied Claims.
                A
                Claimant whose claim has been completely or partially denied shall
                be
                entitled to appeal the claim denial by filing a written appeal with
                the
                Plan Administrator. A Claimant who timely requests a review of the
                denied
                claim (or his or her authorized representative) may review, upon
                request
                and free of charge, copies of all documents, records and other information
                relevant to the denial and may submit written comments, documents,
                records
                and other information relevant to the claim to the Plan Administrator.
                All
                written comments, documents, records, and other information shall
                be
                

            

    

    
      
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              considered
                “relevant” if the information (i) was relied upon in making a
                benefits determination, (ii) was submitted, considered or generated
                in the course of making a benefits decision regardless of whether
                it was
                relied upon to make the decision, or (iii) demonstrates compliance
                with administrative processes and safeguards established for making
                benefit decisions. The Plan Administrator may, in its sole discretion
                and
                if it deems appropriate or necessary, decide to hold a hearing with
                respect to the claim appeal.

            

    

    

    
      	 	
              (a)

            	
              In
                General.
                Appeal of a denied benefits claim must be filed in writing with the
                Plan
                Administrator no later than sixty (60) days after receipt of the
                written
                notification of such claim denial. The Plan Administrator shall make
                its
                decision regarding the merits of the denied claim within sixty (60)
                days
                following receipt of the appeal (or within one hundred and twenty
                (120)
                days after such receipt, in a case where there are special circumstances
                requiring extension of time for reviewing the appealed claim). If
                an
                extension of time for reviewing the appeal is required because of
                special
                circumstances, written notice of the extension shall be furnished
                to the
                Claimant prior to the commencement of the extension. The notice will
                indicate the special circumstances requiring the extension of time
                and the
                date by which the Plan Administrator expects to render the determination
                on review. The review will take into account comments, documents,
                records
                and other information submitted by the Claimant relating to the claim
                without regard to whether such information was submitted or considered
                in
                the initial benefit determination.

            

    

    

    
      	 	
              (b)

            	
              Contents
                of Notice.
                If
                a benefits claim is completely or partially denied on review, notice
                of
                such denial shall be in writing and shall set forth the reasons for
                denial
                in plain language. The decision on review shall set forth (i) the
                specific reason or reasons for the denial, (ii) specific references
                to the pertinent Plan provisions on which the denial is based,
                (iii) a statement that the Claimant is entitled to receive, upon
                request and free of charge, reasonable access to and copies of all
                documents, records, or other information relevant (as defined above)
                to
                the Claimant’s claim, and (iv) a statement describing any voluntary
                appeal procedures offered by the plan and a statement of the Claimant’s
                right to bring an action under Section 502(a) of
                ERISA.

            

    

    

    
      	 	
              (c)

            	
              Claims
                Appeals Upon Change in Control.
                Upon a Change in Control, the Plan Administrator, as constituted
                immediately prior to such Change in Control, shall continue to act
                as the
                Plan Administrator.

            

    

    

    
      	 	 	
              Upon
                such Change in Control, the Company may not remove any member of
                the Plan
                Administrator, but may replace resigning members if 2/3rds of the
                members
                of the Board of Directors of the Company and a majority of Participants
                and Beneficiaries with Account Balances consent to the
                replacement.

            

    

    

    
      	 	 	
              The
                Plan Administrator shall have the exclusive authority at the appeals
                stage
                to interpret the terms of the Plan and resolve appeals under the
                Claims
                Procedure.

            

    

    

    
      
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              The
                Company shall, with respect to the Plan Administrator identified
                under
                this Section, (i) pay all reasonable expenses and fees of the Plan
                Administrator, (ii) indemnify the Plan Administrator (including
                individual committee members) against any costs, expenses and liabilities
                including, without limitation, attorneys’ fees and expenses arising in
                connection with the performance of the Plan Administrator hereunder,
                except with respect to matters resulting from the Plan Administrator’s
                gross negligence or willful misconduct, and (iii) supply full and
                timely information to the Plan Administrator on all matters related
                to the
                Plan, any rabbi trust, Participants, Beneficiaries and Accounts as
                the
                Plan Administrator may reasonably
                require.

            

    

    

    
      	
              12.5

            	
              Legal
                Action.
                A
                Claimant may not bring any legal action, including commencement of
                any
                arbitration, relating to a claim for benefits under the Plan unless
                and
                until the Claimant has followed the claims procedures under the Plan
                and
                exhausted his or her administrative remedies under such claims
                procedures.

            

    

    

    
      	 	
              If
                a Participant or Beneficiary prevails in a legal proceeding brought
                under
                the Plan to enforce the rights of such Participant or any other similarly
                situated Participant or Beneficiary, in whole or in part, the Company
                shall reimburse such Participant or Beneficiary for all legal costs,
                expenses, attorneys’ fees and such other liabilities incurred as a result
                of such proceedings. If the legal proceeding is brought in connection
                with
                a Change in Control, or a “change in control” as defined in a rabbi trust
                described in Section 11.2, the Participant or Beneficiary may file a
                claim directly with the trustees for reimbursement of such costs,
                expenses
                and fees. For purposes of the preceding sentence, the amount of the
                claim
                shall be treated as if it were an addition to the Participant’s or
                Beneficiary’s Account Balance and will be in included in determining the
                Company’s trust funding obligation under
                Section 11.2.

            

    

    

    
      	
              12.6

            	
              Discretion
                of Plan Administrator.
                All interpretations, determinations and decisions of the Plan
                Administrator with respect to any claim shall be made in its sole
                discretion, and shall be final and
                conclusive.

            

    

    

    

    Article XIII

    General
      Conditions

    

    
      	
              13.1

            	
              Anti-Assignment
                Rule.
                No interest of any Participant, spouse or Beneficiary under this
                Plan and
                no benefit payable hereunder shall be assigned as security for a
                loan, and
                any such purported assignment shall be null, void and of no effect,
                nor
                shall any such interest or any such benefit be subject in any manner,
                either voluntarily or involuntarily, to anticipation, sale, transfer,
                assignment or encumbrance by or through any Participant, spouse or
                Beneficiary.

            

    

    

    
      	
              13.2

            	
              No
                Legal or Equitable Rights or Interest.
                No Participant or other person shall have any legal or equitable
                rights or
                interest in this Plan that are not expressly granted in this Plan.
                

            

    

    
      
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        Ball
          Corporation 2005 Deferred Compensation Company Stock Plan

        

        

      

    

    
      	 	
              Participation
                in this Plan does not give any person any right to be retained in
                the
                service of the Company or any of its subsidiaries or affiliated companies.
                The right and power of the Company to dismiss or discharge an Employee
                is
                expressly reserved. Notwithstanding the provisions of Section 10.2,
                the Company makes no representations or warranties as to the tax
                consequences to a Participant or a Participant’s beneficiary(ies)
                resulting from a deferral of income pursuant to the
                Plan.

            

    

    

    
      	
              13.3

            	
              No
                Employment Contract.
                Nothing contained herein shall be construed to constitute a contract
                of
                employment between an Employee and the Company or a Director and
                the
                Company or any of its subsidiaries or affiliated
                companies.

            

    

    

    
      	
              13.4

            	
              Notice.
                Any notice or filing required or permitted to be delivered to the
                Plan
                Administrator under this Plan shall be delivered in writing, in person,
                or
                through such electronic means as is established by the Plan Administrator.
                Notice shall be deemed given as of the date of delivery or, if delivery
                is
                made by mail, as of the date shown on the postmark on the receipt
                for
                registration or certification. Written transmission shall be sent
                by
                certified mail to:

            

    

    

    

    Ball
      Corporation

    10
      Longs Peak Drive

    Broomfield,
      CO 80021

    Attn:
      Deferred Compensation Plan Administrator

    

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

            

    

    

    
      	
              13.5

            	
              Headings.
                The headings of Sections are included solely for convenience of reference,
                and if there is any conflict between such headings and the text of
                this
                Plan, the text shall control.

            

    

    

    
      	
              13.6

            	
              Invalid
                or Unenforceable Provisions.
                If any provision of this Plan shall be held invalid or unenforceable,
                such
                invalidity or unenforceability shall not affect any other provisions
                hereof and the Plan Administrator may elect in its sole discretion
                to
                construe such invalid or unenforceable provisions in a manner that
                conforms to applicable law or as if such provisions, to the extent
                invalid
                or unenforceable, had not been
                included.

            

    

    

    
      
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        Ball
          Corporation 2005 Deferred Compensation Company Stock Plan

        

        

      

    

    
      	
              13.7

            	
              Governing
                Law.
                To the extent not preempted by ERISA, the laws of the State of Indiana
                shall govern the construction and administration of the
                Plan.

            

    

    

    

    
      IN
        WITNESS WHEREOF,
        the undersigned executed this Plan as of the 26th day of April, 2006 to be
        effective as of the Effective Date.

      

      

      Ball
        Corporation

      

      By: David
        A. Westerlund (Print Name)

      

      Its:
        Executive Vice President, Administration, and Corporate
        Secretary (Title)

      

      

       /s/
        David A. Westerlund (Signature)

    

    
      
        
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          Ball
            Corporation 2005 Deferred Compensation Company Stock Plan

          

          

        

      

    

    Schedule A

    

    Company
      Matching Contributions

    

    Until
      modified by the HR Committee of the Board of Directors, Company Award includes
      Company matching contributions. Such contributions shall be an additional credit
      to a Participant’s Accounts, which shall equal 20% of Deferrals credited to an
      Account during a calendar year. The maximum Company Matching Contribution
      credited to a Participant’s Deferred Compensation Account in a calendar year
      shall be $20,000.

    

    Company
      matching contributions shall be 100% vested at all times.

    

    
      
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