Document:

Exhibit
		10.33

	 

	  

	  

	 COOPER-STANDARD
		AUTOMOTIVE
		INC. 

	 DEFERRED
		COMPENSATION PLAN

	  

	 Effective
		January 1, 2005

	 With
		Amendments Through January 1, 2007

	 

	 

	 

	 
	 

	 

	 TABLE
		OF CONTENTS

	 

	 
			 	 	
				Page

				
	
				Article
				  I. PURPOSE
 	 	
				1

				
	
				Section
				  1.1
 	 	
				Statement
				  of Purpose; Effective Date
 	 	
				1

				
	
				Article
				  II. DEFINITIONS AND CONSTRUCTION
 	 	
				2

				
	
				Section
				  2.1
 	 	
				Definitions

					 	
				2

				
	
				Section
				  2.2
 	 	
				Construction

					 	
				7

				
	
				Article
				  III. ELIGIBILITY AND PARTICIPATION
 	 	
				8

				
	
				Section
				  3.1
 	 	
				Eligibility
				  and Participation.
 	 	
				8

				
	
				Section
				  3.2
 	 	
				Termination
				  of Participation
 	 	
				8

				
	
				Section
				  3.3
 	 	
				Ineligible
				  Participant
 	 	
				8

				
	
				Article
				  IV. DEFERRAL OF BASE SALARY AND CASH AWARDS
 	 	
				9

				
	
				Section
				  4.1
 	 	
				Deferral
				  of Base Salary and ADP Returns; Fees
 	 	
				9

				
	
				Section
				  4.2
 	 	
				Deferral
				  of Cash Awards
 	 	
				10

				
	
				Section
				  4.3
 	 	
				Credits
				  to Account
 	 	
				10

				
	
				Section
				  4.4
 	 	
				Vesting
				  of Accounts
 	 	
				10

				
	
				Article
				  V. MATCHING AND DIVIDEND EQUIVALENT UNITS
 	 	
				11

				
	
				Section
				  5.1
 	 	
				Company
				  Matching Stock Units.
 	 	
				11

				
	
				Section
				  5.2
 	 	
				Dividend
				  Equivalent Units on Stock Options
 	 	
				12

				
	
				Article
				  VI. PARTICIPANTS’ ACCOUNTS
 	 	
				13

				
	
				Section
				  6.1
 	 	
				Establishment
				  of Accounts
 	 	
				13

				
	
				Section
				  6.2
 	 	
				Investments

					 	
				13

				
	
				Section
				  6.3
 	 	
				Determination
				  of Accounts
 	 	
				13

				
	
				Section
				  6.4
 	 	
				Adjustments
				  to Accounts
 	 	
				13

				
	
				Section
				  6.5
 	 	
				Statement
				  of Accounts
 	 	
				14

				
	
				Section
				  6.6
 	 	
				Accounts
				  for Record Keeping Purposes Only
 	 	
				14

				
	
				Section
				  6.7
 	 	
				Special
				  Accounting Rules for Stock Units.
 	 	
				14

				
	
				Article
				  VII. FINANCING OF BENEFITS
 	 	
				16

				
	
				Section
				  7.1
 	 	
				Investment
				  of Accounts
 	 	
				16

				
	
				Section
				  7.2
 	 	
				Financing
				  of Benefits
 	 	
				16

				
	
				Section
				  7.3
 	 	
				Funding

					 	
				16

				
	
				Article
				  VIII. DISTRIBUTION OF BENEFITS
 	 	
				18

				
	
				Section
				  8.1
 	 	
				Settlement
				  Date
 	 	
				18

				
	
				Section
				  8.2
 	 	
				Amount
				  to be Distributed
 	 	
				18

				
	
				Section
				  8.3
 	 	
				Distribution
				  Upon Death
 	 	
				18

				
	
				Section
				  8.4
 	 	
				Time and
				  Form of Distribution
 	 	
				18

				
	
				Section
				  8.5
 	 	
				Unforeseeable
				  Emergencies
 	 	
				20

				

 

	  

	 i

	 

		
		

		

	 

	 
			
				Section
				  8.6
 	 	
				Small
				  Benefit
 	 	
				20

				
	
				Article
				  IX. BENEFICIARY DESIGNATION
 	 	
				22

				
	
				Section
				  9.1
 	 	
				Beneficiary
				  Designation
 	 	
				22

				
	
				Section
				  9.2
 	 	
				Facility
				  of Payment
 	 	
				22

				
	
				Section
				  9.3
 	 	
				Amendments

					 	
				22

				
	
				Article
				  X. ADMINISTRATION
 	 	
				23

				
	
				Section
				  10.1
 	 	
				Administration

					 	
				23

				
	
				Section
				  10.2
 	 	
				Plan
				  Administrator
 	 	
				23

				
	
				Section
				  10.3
 	 	
				Binding
				  Effect of Decisions
 	 	
				23

				
	
				Section
				  10.4
 	 	
				Successors

					 	
				23

				
	
				Section
				  10.5
 	 	
				Indemnity
				  of Committee and Administrator
 	 	
				24

				
	
				Section
				  10.6
 	 	
				Claims
				  Procedure
 	 	
				24

				
	
				Section
				  10.7
 	 	
				Expenses

					 	
				25

				
	
				Article
				  XI. AMENDMENT AND TERMINATION OF PLAN
 	 	
				26

				
	
				Section
				  11.1
 	 	
				Amendment

					 	
				26

				
	
				Section
				  11.2
 	 	
				Termination

					 	
				26

				
	
				Article
				  XII. MISCELLANEOUS
 	 	
				28

				
	
				Section
				  12.1
 	 	
				No
				  Guarantee of Employment or Service
 	 	
				28

				
	
				Section
				  12.2
 	 	
				Governing
				  Law
 	 	
				28

				
	
				Section
				  12.3
 	 	
				Nonassignability

					 	
				28

				
	
				Section
				  12.4
 	 	
				Severability

					 	
				28

				
	
				Section
				  12.5
 	 	
				Withholding
				  Taxes
 	 	
				29

				
	
				Section
				  12.6
 	 	
				Legal
				  Fees, Expenses Following a Change of Control
 	 	
				29

				
	
				Section
				  12.7
 	 	
				Top-Hat
				  Plan
 	 	
				29

				
	
				Section
				  12.8
 	 	
				Relationship
				  to Other Plans
 	 	
				30

				
	
				Section
				  12.9
 	 	
				Miscellaneous
				  Distribution Rules
 	 	
				30

				
	
				Section 12.10

					 	
				Compliance
				  with Code Section 409A
 	 	
				31

				

 

	 

	  

	 ii

	 
	 

	 

	 COOPER-STANDARD
		AUTOMOTIVE INC. 

	 EXECUTIVE
		DEFERRED COMPENSATION PLAN

	 

	 ARTICLE
		I.  PURPOSE

	  

	 Section
		1.1 Statement
		of Purpose; Effective Date. The
		Cooper-Standard Automotive Inc. Deferred Compensation Plan is hereby
		established to provide designated management and highly compensated employees
		and non-employee directors with the option to defer the receipt of all or a
		portion of their regular compensation and cash incentive compensation until
		termination of employment or service, and to provide certain holders of stock
		options with dividend equivalent units. It is intended that the Plan will
		assist in attracting and retaining employees and directors of exceptional
		ability by providing these benefits. The Plan shall be effective on the
		Effective Date, and shall apply only to amounts deferred after the Effective
		Date, and any earnings thereon. Amounts deferred prior to the Effective Date
		are governed by the terms of the Cooper Standard Automotive Inc. Pre-2005
		Executive Deferred Compensation Plan.

	  

	 1

	 

		
		

		

	 ARTICLE 
		II. DEFINITIONS AND CONSTRUCTION

	  

	 Section
		2.1 Definitions.
		Whenever the following terms are used in this Plan they shall have the meanings
		specified below unless the context clearly indicates to the
		contrary:

	  

	 (a) “Account” means
		the bookkeeping account maintained on the books of the Company pursuant to
		Articles VI for the purpose of accounting for the allocations and distributions
		made under the Plan. 

	  

	 (b) “Accounting
		Date” means
		each business day; provided that with
		respect to Stock Units, the Accounting Date means each June 30 and December
		31.

	  

	 (c) “Accounting
		Period” means
		the period beginning on the day immediately following an Accounting Date and
		ending on the next following Accounting Date.

	  

	 (d) “Administrator” means a
		committee consisting of one or more persons who shall be appointed by and serve
		at the pleasure of the Committee.

	  

	 (e) “Affiliate” means,
		with respect to an entity, any entity directly or indirectly controlling,
		controlled by, or under common control with, such first entity within the
		meaning of Code Section 414(b) or (c).

	  

	 (f) “Base
		Salary” means a
		Participant’s base earnings paid by the Company without any regard to any
		increases or decreases in base earnings as a result of an election to defer
		base earnings under this Plan, or an election between benefits or cash provided
		under a plan of the Company maintained pursuant to Section 125 or 401(k) of the
		Code. Base
		Salary paid at the beginning of a Plan Year with respect to services performed
		at the end of the prior Plan Year in accordance with normal payroll practices
		will be considered earned in the Plan Year in which such Base Salary is paid.
		

	  

	 (g) “Beneficiary” means
		the person or persons (natural or otherwise) designated or deemed to be
		designated by the Participant pursuant to Article IX to receive benefits
		payable under the Plan in the event of Participant’s death.

	  

	 (h) “Board” means
		the Board of Directors of the Company.

	  

	 (i) “Cash
		Award” means
		an Employee’s awards for a Plan Year which may consist of any annual cash
		incentive award which is earned with respect to services performed by the
		Employee during such Plan Year, whether or not such award is actually paid to
		the Employee during such Plan Year, and any multi-year cash incentive award
		which is earned with respect to a period of service performed by the Employee
		ending in such Plan Year, whether or not such award is actually paid to the
		Employee during such Plan Year.

	  

	 (j) “Cause” means
		termination by the Board of an employee Participant’s employment with the
		Company or an Affiliate because of:

	  

	 2

	 

		
		

		

	 (i) the
		willful and continued failure by the Participant to perform substantially the
		duties of the Participant’s position (other than as a result of a physical
		or mental impairment which constitutes a disability); 

	  

	 (ii) the
		willful engaging of the Participant in conduct which is demonstrably injurious
		to the Company or an Affiliate, monetarily or otherwise; or 

	  

	 (iii) the
		conviction of a criminal violation involving fraud, embezzlement or theft in
		connection with the Participant’s duties or in the course of the
		Participant’s employment or service with the Company or an
		Affiliate.

	  

	 (k) “Change
		of Control”
		means the
		occurrence of any of the following events:

	  

	 (i) the sale
		or disposition, in one or a series of related transactions, of all or
		substantially all of the assets of CSA to any “person” or
		“group” (as such terms are defined in Sections 13(d)(3) and 14(d)(2)
		of the Exchange Act) other than Permitted Holders; or

	  

	 (ii) any
		person or group, other than Permitted Holders, is or becomes the
		“beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the
		Exchange Act), directly or indirectly, of greater than or equal to 50% of the
		total voting power of the voting stock of CSA, including by way of merger,
		consolidation or otherwise, except where one or more of the Sponsors and/or
		their respective Affiliates, immediately following such merger, consolidation
		or other transaction, continue to have the ability to designate or elect a
		majority of the Board (or the board of directors of the resulting entity or its
		parent company).

	  

	 Notwithstanding
		that a transaction or series of transactions does not constitute a Change of
		Control, with respect to any Participant it shall be deemed a Change of Control
		for purposes of the Participant’s entitlement’s hereunder if clause
		(i), above, is satisfied in respect of the business or division in which such
		Participant is principally engaged. For the avoidance of doubt, a Change of
		Control pursuant to the immediately preceding sentence shall not apply to any
		Participant whose employment is not primarily with and for the business or
		division that is sold. For purposes of this Paragraph (l), “Permitted
		Holders” means, as of the date of determination, any and all of (i) an
		employee benefit plan (or trust forming a part thereof) maintained by (A) the
		Company, an Affiliate or a related employer or (B) any corporation or other
		person of which a majority of its voting power of its voting securities or
		equity interest is owned, directly or indirectly, by the Company, an Affiliate
		or a related employer and (ii) the Sponsors and any of their respective
		Affiliates. No “Change of Control” shall occur unless such
		transaction qualifies as a change of control under Code Section
		409A.

	  

	 (l) “Claimant” has the
		meaning set forth in Section 10.6(a).

	  

	 (m) “Code” means
		the Internal Revenue Code of 1986, as amended from time to time. Any reference
		to a provision of the Code shall also include any successor provision
		thereto.

	  

	 (n) “Committee” means
		the Compensation Committee of the Board.

	  

	 3

	 

		
		

		

	 (o) “Company” means
		Cooper-Standard Automotive Inc., and any successor or successors
		thereto.

	  

	 (p) “CSA” means
		Cooper-Standard Holdings Inc., formerly known as CSA Acquisition
		Corp.

	  

	 (q) “Disability”
		means the Participant’s inability to engage in any substantial gainful
		activity by reason of any medically determinable physical or mental impairment
		that can be expected to result in death or can be expected to last for a
		continuous period of not less than 12 months, as determined by the
		Administrator. The Participant will be required to submit such medical evidence
		or to undergo a medical examination by a doctor selected by the Administrator
		as the Administrator determines is necessary in order to make a determination
		hereunder.

	  

	 (r) “Dividend
		Equivalent Unit” means
		the allocation provided for in Section 5.2.

	  

	 (s) “Effective
		Date” means
		January 1, 2005.

	  

	 (t) “Employee” means
		any employee of the Company or an Affiliate who is, as determined by the
		Committee, a member of a “select group of management or highly compensated
		employees” of the Company, within the meaning of ERISA, and who is
		designated by the Committee as an Employee eligible to participate in the
		Plan.

	  

	 (u) “ERISA” means
		the Employee Retirement Income Security Act of 1974, as amended from time to
		time. Any reference to a provision of ERISA shall also include any successor
		provision thereto.

	  

	 (v) “Fair
		Market Value” means
		with respect to a share of Stock, the value of such share as determined by the
		Committee, which may be based on an appraisal performed by an independent
		third-party appraiser. The Committee shall determine Fair Market Value as of
		each June 30 and December 31, and at such other interim dates as the Committee
		shall determine. With respect to any other property, Fair Market Value shall be
		established by the Committee. 

	  

	 (w) “Fees”
		means the amount(s) paid to a Non-Employee Director for service on the Board, a
		committee of the Board or as a chair of a committee, whether paid in cash or
		Stock. 

	  

	 (x) “Good
		Reason” means the occurrence of any of the
		following:

	  

	 (i) If the
		Employee is subject to an employment agreement in effect with the Company, as
		defined in such agreement; or if the Employee is not subject to such an
		employment agreement, a relocation of the office of the Company where the
		Employee is employed to a location that is 150 miles away from the current
		location without the Employee’s written consent, except for relocation to
		the Company’s headquarters and required travel on the Company’s
		business to an extent reasonably required to perform Employee’s assigned
		duties; or

	  

	 (ii) the
		failure of the Company to obtain a satisfactory agreement from any successor to
		assume and agree to perform the Company’s obligations under this
		Plan.

	  

	 4

	 
	 

	 

	 (y) “Incentive
		Compensation Plan” means
		any incentive compensation plan established by CSA or the Company that provides
		for Cash Awards.

	  

	 (z) “Investments” means
		Share
		Units and any other alternatives made available by the Administrator, which
		shall be used for the purpose of measuring hypothetical investment experience
		attributable to a Participant’s Account.

	  

	 (aa) “Matching
		Stock Unit” means
		the allocation provided for in Section 5.1.

	  

	 (bb) “Non-Employee
		Director”
		means a member of the Board who is not an employee of the Company or its
		Affiliates.

	  

	 (cc) “Participant” means
		an Employee or Non-Employee Director participating in the Plan in accordance
		with the provisions of Section 3.1, or a former Employee or Non-Employee
		Director retaining benefits under the Plan that have not been fully
		paid.

	  

	 (dd) “Participation
		Agreement” means
		the agreement(s) submitted by a Participant to the Administrator as provided in
		Section 4.1(b) in the form approved by the Administrator. A
		Participation Agreement must be validly executed to be given
		effect.

	  

	 (ee) “Plan” means
		this Cooper-Standard Automotive Inc. Deferred Compensation Plan as it may, from
		time to time, be amended.

	  

	 (ff) “Plan
		Year” means
		the 12-month period beginning January 1 and ending the following December 31,
		with a first short plan year from December 23, 2004 to December 31,
		2004.

	  

	 (gg) “Request” has the
		meaning set forth in Section 7.1(b). 

	  

	 (hh) “Retirement” means
		termination of employment with the Company and its Affiliates or termination of
		service on the Board, as the case may be, on or after (i) attainment of age 65
		or (ii) attainment of the age and service necessary to qualify for early
		retirement under the Cooper-Standard Automotive Inc. Salaried Retirement Plan,
		as amended.

	  

	 (ii) “Retirement
		Committee” has the
		meaning set forth in Article XIV of the Cooper-Standard Automotive Inc.
		Investment Savings Plan, as amended.

	  

	 (jj) “Separation
		from Service” means
		the date on which a Participant who is an employee terminates employment from
		the Company and its Affiliates, subject to the following:

	  

	 (i) If a
		Participant takes a leave of absence from the Company or an Affiliate for
		purposes of military leave, sick leave or other bona fide leave of absence, the
		Participant’s employment will be deemed to continue for the first six (6)
		months of the leave of absence, or if longer, for so long as the
		Participant’s right to reemployment is provided either by statute or by
		contract. If the period of the leave exceeds six (6) months and the
		Participant’s right to reemployment is not provided by either statute or
		contract, the Participant will be 

	  

	 5

	 
	 

	 

	 considered
		to have incurred a Separation from Service on the first day of the seventh
		(7th) month
		of the leave of absence.

	  

	 (ii) If a
		Participant provides insignificant services to the Company or an Affiliate, the
		Participant is deemed to have incurred a Separation from Service. For this
		purpose, a Participant is not considered to be providing insignificant services
		if he or she provides services at an annual rate that is at least equal to
		twenty percent (20%) of rate of services rendered by such individual, on
		average, during the immediately preceding three (3) calendar years of
		employment (or his or her actual period of employment, if less) and the annual
		remuneration for such services is at least equal to twenty percent (20%) of the
		average annual remuneration earned during the final three (3) full calendar
		years of employment (or his or her actual period of employment, if less).
		

	  

	 (iii) If a
		Participant continues to provide services to the Company or to an Affiliate in
		a capacity other than as an employee, the Participant will not be deemed to
		have Separated from Service if the Participant is providing services at an
		annual rate that is at least fifty percent (50%) of the rate of services
		rendered by such individual, on average, during the immediately preceding three
		(3) calendar years of employment (or his or her actual period of employment, if
		less) and the annual remuneration for such services is at least fifty percent
		(50%) of the average annual remuneration earned during the final three (3) full
		calendar years of employment (or his or her actual period of employment, if
		less).

	  

	 A
		“Separation from Service” for Non-Employee Director Participants is
		the date on which the Non-Employee Director has a good-faith and complete
		termination of services as a member of the Board in accordance with Code
		Section 409A. 

	  

	 (kk) “Settlement
		Date” means
		the date on which a payment is due under the Plan. All
		Settlement Dates, other than upon Separation from Service, shall be deemed to
		be January 1 (or as soon thereafter as is practicable) of the applicable year.
		

	  

	 (ll) “Specified
		Employee” means a
		Participant who is a key employee (as defined in Code Section 416(i), but
		without regard to Code Section 416(i)(5)) of the Company or an Affiliate any of
		the stock of which is publicly traded on an established securities market. A
		Participant is a key employee under Code Section 416(i) if the employee meets
		the requirements of Code Section 416(i)(1)(A)(i), (ii) or (iii), applied in
		accordance with the regulations under Code Section 416, but disregarding Code
		Section 416(i)(5), at any time during the 12-month period ending on an
		identification date. If a person is a key employee as of an identification
		date, the person is treated as a Specified Employee for the 12-month period
		beginning on the first day of the fourth (4th) month
		following the identification date. The identification date for the Plan shall
		be September 30 of each year. Thus, an employee who satisfies the foregoing
		requirements for key employee status as of September 30 of a year shall be
		treated as a Specified Employee for the following calendar year.

	  

	 (mm) “Sponsors” means
		Cypress Merchant Banking Partners II L.P., Cypress Merchant Banking II C.V.,
		55th Street
		Partners II L.P., Cypress Side-By-Side LLC, GS Capital Partners 2000, L.P., GS
		Capital Partners 2000 Offshore, L.P., GS Capital Partners 2000 GmbH &
		

	  

	 6

	 
	 

	 

	 Co.
		Beteiligungs KG, GS Capital Partners 2000 Employee Fund, L.P. and Goldman Sachs
		Direct Investment Fund 2000, L.P.

	  

	 (nn) “Stock” means
		the common stock of the Company.

	  

	 (oo) “Stock
		Unit” means a
		unit equal in value to a share of Stock. 

	  

	 (pp) “Terminated
		Participant” has the
		meaning set forth in Section 12.3(a).

	  

	 (qq) “Trust” has the
		meaning set forth in Section 7.3(a).

	  

	 (rr) “Trust
		Agreement” has the
		meaning set forth in Section 7.3(a).

	  

	 (ss) “Trustee” has the
		meaning set forth in Section 7.3(a).

	  

	 (tt) “Unforeseeable
		Emergency” means
		a severe
		financial hardship of the Participant, resulting from any of the
		following:

	  

	 (i) an
		illness or accident of the Participant, his or her spouse or the
		Participant’s dependent or dependents (as defined in Code Section
		152(a));

	  

	 (ii) a loss
		of the Participant’s property due to casualty (including the need to
		rebuild a home following damage to such home not otherwise covered by
		insurance, for example, as a result of a natural disaster); or

	  

	 (iii) other
		similar extraordinary and unforeseeable circumstances arising as a result of
		events beyond the control of the Participant, as determined by the
		Administrator. 

	  

	 Section
		2.2 Construction.
		Wherever any words are used in the masculine, they shall be construed as if
		they were used in the feminine in all cases where they would so apply; and
		wherever any words are used in the singular or the plural, they shall be
		construed as though they were used in the plural or the singular, as the case
		may be, in all cases where they would so apply. Titles of articles and sections
		are for general information only, and the Plan is not to be construed by
		reference to such items. The words “hereof,” “herein,”
		“hereunder,” and other similar compounds of the word “here”
		shall mean and refer to the entire Plan, and not to any particular provision or
		Section. 

	  

	 7

	 

		
		

		

	 ARTICLE 
		III. ELIGIBILITY
		AND PARTICIPATION

	  

	 Section
		3.1 Eligibility
		and Participation. 

	  

	 (a) Employee
		Eligibility.
		Eligibility to participate in the Plan is limited to those management and/or
		highly compensated Employees who are designated as eligible Employees, from
		time to time, by the Committee. Once
		designated, an Employee shall remain eligible to participate for future Plan
		Years unless otherwise determined by the Committee. 

	  

	 (i) Participation
		in Elective Deferral Component.
		Participation in the elective deferral feature (i.e., deferrals of Base Salary
		and Cash Awards) of the Plan shall be limited to eligible Employees who elect
		to participate in the Plan by filing a completed and executed Participation
		Agreement with the Administrator. An Employee’s initial participation date
		shall be the date the Employee is selected for participation in that component
		of the Plan by the Committee.

	  

	 (ii) Participation
		in Dividend Equivalent Component.
		Participation in the dividend equivalent feature of the Plan shall
		automatically become effective on the date the Employee is selected for
		participation in that component of the Plan by the Committee. 

	  

	 (b) Non-Employee
		Director Eligibility and Participation.
		Effective January 1, 2007, all Non-Employee Directors are automatically
		eligible to participate in the elective deferral component of the Plan.
		Participation is effective on the date the Non-Employee Director is initially
		elected or appointed to the Board. Participation for Non-Employee Directors on
		December 31, 2006 shall be effective on January 1, 2007.

	  

	 Section
		3.2 Termination
		of Participation.
		Participation in the Plan shall continue as long as the Participant is eligible
		to receive benefits under the Plan. A Participant may elect to terminate his or
		her participation in the elective deferral component of the Plan by filing a
		written notice thereof with the Committee. The termination shall be effective
		the first day of the next Plan Year following receipt by the Administrator.
		Amounts credited to such Participant’s Account and any subaccounts with
		respect to periods prior to the effective date of such termination shall
		continue to be payable pursuant to, receive earnings and be credited with gains
		and debited with losses thereon (where applicable), and otherwise be governed
		by, the terms of the Plan.  

	  

	 Section
		3.3 Ineligible
		Participant.
		Notwithstanding any other provisions of this Plan to the contrary, if the
		Administrator determines that any Participant may not qualify as a
		“management or highly compensated employee” within the meaning of
		ERISA or regulations issued thereunder, the Administrator may determine, in its
		sole discretion, that such Participant shall cease to be eligible to
		participate in this Plan. With respect to the elective deferral feature of the
		Plan, participation shall cease as of the end of the Plan Year in which the
		determination is made. With respect to the dividend equivalent feature of the
		Plan, participation shall cease immediately on the date of such determination.
		

	  

	 8

	 

		
		

		

	 ARTICLE 
		IV. DEFERRAL
		OF BASE SALARY AND CASH AWARDS

	  

	 Section
		4.1 Deferral
		of Base Salary and ADP
		Returns; Fees.

	  

	 (a) Base
		Salary Amount.
		With
		respect to each Plan Year, an employee Participant may elect to defer a
		percentage of Base Salary, up to 80% of the
		Participant’s Base Salary (or, if
		less, the amount remaining after the Participant’s Base Salary is reduced
		by all applicable withholding taxes, 401(k) and section 125 plan deductions,
		and all other required or authorized deductions). 

	  

	 (b) ADP
		Returns. With
		respect to each Plan Year beginning on and after January 1, 2007, an employee
		Participant may elect to defer, from his or her Base Salary, an amount equal to
		the amount that would is distributed to him under the Cooper-Standard
		Automotive Inc. Investment Savings Plan (the “401(k)
		Plan”) as a
		result of the
		401(k) Plan’s failure to satisfy the “actual deferral
		percentage” test set forth in Code Section 401(k)(3)(A)(ii) for the prior
		Plan Year. 

	  

	 (c) Fees. With
		respect to each Plan Year, a Non-Employee Director Participant may elect to
		defer a percentage of his Fees, up to 100% of the
		Participant’s Fees. 

	  

	 (d) Initial
		Deferral Election. A
		Participant who first becomes eligible to participate in the Plan during a Plan
		Year may, within 30 days after his initial participation date, elect to
		participate in the Plan by filing a Participation Agreement with the
		Administrator. Such Participation Agreement shall apply only to Base Salary or
		Fees, as the case may be, earned following the filing of such Participation
		Agreement, and shall not apply to deferral of ADP returns. If the Participant
		does not submit a Participation Agreement during his initial 30-day election
		period, the Participant may thereafter elect to participate pursuant to
		subsection (e). A Participant’s initial election to defer Base Salary or
		Fees shall be effective only for the remainder of the Plan Year to which the
		election relates, and shall not apply to any future Plan Years. The election
		shall be irrevocable. Notwithstanding the foregoing, if the Participant was
		previously eligible to participate in this Plan, or another defined
		contribution-type deferred compensation plan that would be required to be
		aggregated with this Plan under Code Section 409A, the Participant shall not be
		eligible for the initial 30-day election period and may only enroll in the Plan
		as of a January 1 pursuant to subsection (e) below. 

	  

	 (e) Annual
		Election. Prior
		to the beginning of each calendar year, within such time periods as the
		Administrator prescribes, a Participant may elect to participate in the Plan by
		filing a Participation Agreement with the Administrator. The election will be
		effective only with respect to Base Salary or Fees, as the case may be, earned
		for services performed in the following Plan Year and/or with respect to ADP
		returns related to the ADP test for the following Plan Year. A
		Participant’s Participation Agreement, once effective, shall be
		irrevocable for the Plan Year to which it relates. A Participant’s
		election shall be effective only for the Plan Year to which the election
		relates, and shall not apply to any future Plan Years. 

	  

	 9

	  

	 

		
		

		

	 Section
		4.2 Deferral
		of Cash Awards.
		

	  

	 (a) Amount. A
		Participant may elect to defer a percentage of his annual, discretionary or
		multi-year Cash Awards, up to 100% of the Participant’s Cash
		Awards.

	  

	 (b) Timing
		of Deferral Election. A
		Participant may irrevocably elect to defer all or a portion of any Cash Award
		by filing a Participation Agreement with the Administrator within the time
		periods that the Administrator prescribes and: 

	  

	 (i) In the
		case of a Cash
		Award that
		does not constitute performance-based compensation for purposes of Code
		Section 409A, before the calendar year (or first calendar year in the case
		of a multi-year award) in which the Participant begins to perform the services
		on which the Cash Award is based; or

	  

	 (ii) In the
		case of any Cash Award that constitutes performance-based compensation for
		purposes of Code Section 409A, at least six (6) months prior to the end of the
		performance period to which the Cash Award relates. 

	  

	 A
		Participant’s election to defer a Cash Award shall be effective only for
		the Cash Award to which the election relates, and shall not apply to any future
		Cash Awards. 

	  

	 Notwithstanding
		the foregoing, for the 2007 Plan Year and, in the Administrator’s
		discretion for the 2008 Plan Year, a Participant may elect to defer his Cash
		Award that would otherwise qualify as a short-term deferral prior to the
		beginning of such Plan Year, as permitted by IRS Notice 2006-79.

	  

	 Section
		4.3 Credits
		to Account. The
		portion of a Participant’s Base Salary, Fees or Cash Award that is
		deferred pursuant to the Participant’s Participation Agreement shall be
		credited to the Participant’s Account as of the date the amounts would
		otherwise have been paid to the Participant. Any withholding of taxes or other
		amounts with respect to any deferred award which is required by state, federal
		or local law shall to the extent possible first be withheld from the
		Participant’s non-deferred compensation.

	  

	 Section
		4.4 Vesting
		of Accounts. Each
		Participant shall at all times have a nonforfeitable interest in his elective
		deferrals and all earnings thereon.

	  

	 10

	 

		
		

		

	 ARTICLE
		V. MATCHING
		AND DIVIDEND EQUIVALENT UNITS 

	  

	 Section
		5.1 Company
		Matching Stock Units. This
		Section 5.1 shall be effective for Plan Years beginning on and after January 1,
		2007, except as provided in subsection (c). 

	  

	 (a) Amount
		of Match. If a
		Participant elects, at the time of making a deferral election, that Base
		Salary, cash Fees and/or Cash Awards that are being deferred for the Plan Year
		will be invested in Company Stock Units pursuant to Section 6.2, the Company
		will credit the Participant’s Stock Unit subaccount as of the last day of
		the Plan Year (the “Allocation
		Date”)
		with Matching Stock Units equal to one hundred percent (100%) of the number of
		Company Stock Units “purchased” with the Participant’s deferrals
		during such year, subject to the limitation in subsection (b). Notwithstanding
		the foregoing, if the Participant has a Separation from Service during a Plan
		Year as a result of death, Disability, Retirement or because his employment is
		terminated by the Company or an Affiliate without Cause or the Participant
		terminates employment for Good Reason, then the Matching Stock Units will be
		credited to the Participant’s Stock Unit Subaccount as of the date of such
		Separation from Service. (For purposes of clarity, Non-Employee Director
		Participants are not
		eligible for an allocation of Matching Stock Units in the event of termination
		without Cause or for Good Reason.)

	  

	 (b) Annual
		Cap.
		Notwithstanding subsection (a) above, the allocation of Company Matching Stock
		Units to Participants is subject to an aggregate annual cap equal to (i) the
		lesser of $1,500,000 (as determined by multiplying the Fair Market Value of a
		share of Stock on the Allocation Date) or 15,000 units, or (ii) such higher
		amount or number of units as is determined by the Committee (the
		“Cap”).
		If the aggregate value or number of Company Matching Stock Units to be
		allocated for a Plan Year exceeds the Cap, then unless the Committee determines
		otherwise, the amount of Company Matching Stock Units credited to the Stock
		Unit subaccount of an eligible Participant for that Plan Year will be
		calculated by multiplying the Cap by the percentage determined by dividing the
		Matching Stock Units which would have otherwise been allocable to the
		Participant for that Plan Year if the Cap were not in place, by the total
		amount of Company Matching Stock Units which would have otherwise been
		allocable to all eligible Plan Participants for that Plan Year if the Cap were
		not in place. The Committee may also place a per participant cap on the number
		of Company Matching Stock Units that may be allocated to a Participant.
		

	  

	 (c) Discretionary
		Matching Stock Units. For
		the 2006 Plan Year, the Board may, in its discretion, allocate Company Matching
		Stock Units to Participants’ Accounts in such percentage as it determines.
		

	  

	 (d) Vesting
		of Matching Stock Credits.
		

	  

	 (i) In
		general, a Participant’s Matching Stock Units shall vest ratably in each
		of the three (3) years following their Allocation Date provided the Participant
		remains an employee of the Company or an Affiliate or a Non-Employee Director,
		as applicable, through the applicable vesting date. That is, one-third of the
		Matching Stock Units will vest on the first (1st)
		anniversary of the Allocation Date, an additional one-third of the Matching
		Stock Units will vest on the second (2nd)
		anniversary of the Allocation Date, and the remaining one-third of
		the

	  

	 11

	 
	 

	 

	 Matching
		Stock Units will vest on the third (3rd)
		anniversary of the Allocation Date, in each case contingent on
		Participant’s continued employment or service as a Non-Employee Director.
		

	  

	 (ii) Notwithstanding
		the foregoing, upon the Participant’s Separation from Service as a result
		of death, Disability, Retirement or because his employment is terminated by the
		Company or an Affiliate without Cause or the Participant terminates employment
		for Good Reason, all of the Participant’s Matching Stock Units shall be
		one hundred percent (100%) vested. (For purposes of clarity, Non-Employee
		Directors are not
		eligible for full vesting of Matching Stock Units in the event of termination
		without Cause or for Good Reason.)

	  

	 (iii) The
		Committee may, in its sole discretion and at any time, vest in whole or in part
		any Matching Stock Units credited to the Participant’s
		Account.

	  

	 (iv) In
		addition, upon the occurrence of a Change of Control, all Matching Stock Units
		credited to the Account of a Participant who is employed by the Company or an
		Affiliate or who is a Non-Employee Director immediately prior to the Change of
		Control shall become one hundred percent (100%) vested. 

	  

	 (v) Any
		Matching Stock Units that are not vested as of the date of the
		Participant’s Separation from Service shall be forfeited.

	  

	 Section
		5.2 Dividend
		Equivalent Units on Stock Options.
		Effective on and after January 1, 2007, if a cash dividend is declared with
		respect to the Company’s Stock, then a Participant who is employed by the
		Company or an Affiliate and who holds a stock option granted by the Company on
		the date such dividend is declared, shall receive a credit to his Dividend
		Equivalent Unit subaccount equal to the amount of the cash dividend per share
		multiplied by the number of stock options held by the Participant that have not
		been exercised as of the dividend declaration date. The credit to the Dividend
		Equivalent Unit subaccount shall be made on the date the dividend is paid.
		Dividend Equivalent Units shall vest in accordance with the terms of the stock
		options with respect to which the units are credited. A Participant may invest
		such vested Dividend Equivalent Units as provided for in Section
		6.2. 

	  

	 12

	 
	 

	 

	 ARTICLE 
		VI. PARTICIPANTS’
		ACCOUNTS

	  

	 Section
		6.1 Establishment
		of Accounts. The
		Company, through its accounting records, shall establish an Account for each
		Participant. In addition, the Company may establish one or more subaccounts of
		a Participant’s Account, if the Company determines that such subaccounts
		are necessary or appropriate in administering the Plan.

	  

	 Section
		6.2 Investments.
		Amounts credited to a Participant’s Account shall reflect the investment
		experience of the Investments selected by the Participant. The Participant may
		make an initial investment election at the time of enrollment in the Plan in
		whole increments of five percent (5%); provided that the deferral of Stock Fees
		shall be automatically invested in Stock Units. A Participant may also elect to
		reallocate his or her Account, and may elect to allocate any future deferrals,
		among the various Investments in whole increments of five percent (5%) from
		time to time as prescribed by the Administrator; provided that amounts deferred
		into Stock Units and Matching Stock Units shall not be eligible for
		re-allocation out of Stock Units, except to the extent that cash amounts
		deferred into Stock Units are not eligible for a Company match due to operation
		of the Cap or other limitations as described in Section 5.1(b). Such investment
		elections shall remain in effect until changed by the Participant. All
		investment elections shall become effective as soon as practicable after
		receipt of such election by the Administrator, and must be made in the form and
		manner and within such time periods as the Administrator prescribes in order to
		be effective. In the absence of an effective election, the Participant’s
		Account shall be deemed invested in the default fund specified by the
		Administrator. The Administrator may impose other rules, conditions and
		restrictions with regard to Investment allocations and changes thereto.
		

	  

	 Section
		6.3 Determination
		of Accounts.

	  

	 (a) Determination
		of Accounts. The
		amount credited to each Participant’s Account as of a particular date
		shall equal the balance of such Account as of such date. 

	  

	 (b) Accounting. The
		Company, through its accounting records, shall maintain a separate and distinct
		record of the amount in each Account as adjusted to reflect any income, gains,
		losses and distributions with respect to such Account.

	  

	 Section
		6.4 Adjustments
		to Accounts.

	  

	 On each
		Accounting Date, the Participant’s Account shall be credited or debited,
		as the case may be, as follows:

	  

	 (a) First,
		the Account shall be credited or debited with an income (loss) and expense
		factor equal to an amount determined by multiplying (i) the balance credited to
		the Participant’s Account as of the immediately preceding Accounting Date
		by (ii) the rate of return net of expenses as determined by the Administrator
		for the Accounting Period or portion thereof ending on such Accounting Date on
		deemed Investments provided for in Section 6.2.

	  

	 (b) Second,
		the Account shall be credited with any allocations under Article IV or
		V.

	  

	 13

	 
	 

	 

	 (c) Finally,
		the Account shall be debited with the amount of any distributions under the
		Plan to or on behalf of the Participant or, in the event of his death, the
		Participant’s Beneficiary.

	  

	 Section
		6.5 Statement
		of Accounts. At
		least annually, a statement shall be furnished to each Participant or, in the
		event of his death, to his Beneficiary, showing the status of the
		Participant’s Account as of the end of the most recent Accounting Period,
		any changes in the Participant’s Account since the date of the most recent
		statement furnished to the Participant, and such other information as the
		Administrator shall determine. 

	  

	 Section
		6.6 Accounts
		for Record Keeping Purposes Only. Plan
		Accounts and the record keeping procedures described herein serve solely as a
		device for determining the amount of benefits accumulated by a Participant
		under the Plan, and shall not constitute or imply an obligation on the part of
		the Company or any Affiliate to fund such benefits. 

	  

	 Section
		6.7 Special
		Accounting Rules for Stock Units.

	  

	 (a) When any
		deferred cash amounts are to be allocated as Stock Units, the amounts shall be
		placed in a temporary accumulation account, which shall be deemed invested in
		such investment fund as the Committee specifies. As of each Accounting Date for
		Stock Units (June 30 and December 31), the balance of a Participant’s
		temporary accumulation account shall be converted to whole and fractional Stock
		Units, with fractional units calculated to three (3) decimal places, by
		dividing the amount to be allocated by the greater of (i) $100 or (ii) the Fair
		Market Value of a share of Stock as determined for the date of such allocation.
		The $100 minimum may be eliminated by the Committee at any time. When any
		deferred Stock Fees are to be allocated as Stock Units, the Participant shall
		be credited with the same number of Stock Units as the number of Shares being
		deferred. 

	  

	 (b) If any
		dividends or other distributions are paid with respect to the Stock while Stock
		Units are credited to a Participant’s Account, such Participant shall be
		credited with a additional Stock Units determined by (i) multiplying the amount
		of cash dividend paid, or the Fair Market Value of other property distributed,
		with respect to one share of Stock, by the number of Stock Units, both vested
		and unvested, credited to the Participant’s Account on the date the
		dividend or distribution is declared, and (ii) dividing that number by the Fair
		Market Value of a share of Stock on the date the dividend is paid or
		distributed. Any additional Stock Units credited to the Participant’s
		Account under this Paragraph (b) shall be subject to the same vesting schedule
		with respect to the underlying Stock Units to which they relate. Any other
		provision of this Plan notwithstanding, if a dividend is paid with respect to
		the Stock in the form of a right or rights to purchase shares of Stock of the
		Company or any entity acquiring the Company, no additional Stock Units shall be
		credited to the Participant’s Account with respect to such dividend, but
		each Stock Unit credited to a Participant’s Account at the time such
		dividend is paid, and each Stock Unit thereafter credited to the
		Participant’s Account at a time when such rights are attached to the
		Stock, shall thereafter be valued on the basis of the aggregate of the then
		Fair Market Value of one share of Stock plus the then Fair Market Value of such
		right or rights then attached to such share of Stock.

	  

	 14

	 

		
		

		

	 (c) In the
		event of any merger, share exchange, reorganization, consolidation,
		recapitalization, stock dividend, stock split or other change in corporate
		structure of the Company affecting the Stock, the Company shall make
		appropriate equitable adjustments with respect to the Stock Units credited to
		the Account of each Participant, including without limitation, adjusting the
		date as of which such Stock Units are valued, as the Committee determines is
		necessary of desirable to prevent the dilution or enlargement of the benefits
		intended to be provided under the Plan.

	  

	 (d) Participants
		shall have no rights as a stockholder pertaining to Stock Units credited to
		their Account.

	  

	 15

	 
	 

	 

	 ARTICLE 
		VII. FINANCING
		OF BENEFITS

	  

	 Section
		7.1 Investment
		of Accounts.
		As soon
		as practicable after the crediting of any amount to a Participant’s
		Account, the Company may, in its sole discretion, direct that the Retirement
		Committee invest the amount credited, in whole or in part, in one or more
		separate investment funds or vehicles, including, without limitation,
		certificates of deposit, mutual funds, money market accounts or funds, limited
		partnerships, real, personal, tangible or intangible property, or debt or
		equity securities, including equity securities of the Company (measured by Fair
		Market Value, book value or any formula selected by the Retirement Committee),
		(collectively the “Invested
		Assets”), as
		the Retirement Committee shall select, or may direct that the Company retain
		the amount credited as cash to be added to its general assets. The Company
		shall be the sole owner and beneficiary of all Invested Assets, and all
		contracts and other evidences of the Invested Assets shall be registered in the
		name of the Company. The Company, under the direction of the Retirement
		Committee, shall have the unrestricted right to sell any of the Invested Assets
		included in any Participant’s Account, and the unrestricted right to
		reinvest the proceeds of the sale in other Invested Assets or to credit the
		proceeds of the sale to a Participant’s Account as cash.
		The Invested Assets may, but are not required to, mirror the Investment
		elections made by the Participant.

	  

	 Section
		7.2 Financing
		of Benefits.
		Benefits payable under the Plan to a Participant or, in the event of his death,
		to his Beneficiary, or to an alternate payee pursuant to a domestic relations
		order, shall be paid by the Company from its general assets. Notwithstanding
		the fact that the Participants’ Accounts may be adjusted by an amount that
		is measured by reference to the performance of the deemed Investments as
		provided in Section 6.1, no Participant, Beneficiary or any other person
		entitled to payment under the Plan shall have any claim, right, security
		interest or other interest in any fund, trust, account, insurance contract, or
		asset of the Company or Affiliate responsible for such payment.

	  

	 Section
		7.3 Funding.

	  

	 (a) Notwithstanding
		the provisions of Section 7.2, nothing in this Plan shall preclude the Company
		from setting aside amounts in trust (the “Trust”)
		pursuant to one or more trust agreements between a trustee and the Company.
		However, Participants, their Beneficiaries or alternate payees, and their
		heirs, successors and assigns, shall have no secured interest or claim in any
		property or assets of the Company or the Trust. The Company’s obligation
		under the Plan shall be merely that of an unfunded and unsecured promise of the
		Company to pay money in the future. Notwithstanding the foregoing, upon the
		earlier to occur of (i) a Change of Control or (ii) a declaration by the Board
		that a Change of Control is imminent, the Company shall promptly, to the extent
		it has not previously done so, and in any event within five (5) business days
		after such Change of Control (or on such fifth business day if the Board has
		declared that a Change of Control is imminent), create an irrevocable trust to
		hold funds to be used in payment of the obligations of the Company under the
		Plan, and the Company shall fund such trust by transferring for the Accounts of
		those Participants whom the Board has identified to the Trustee as having been
		affected by such Change of Control an amount sufficient to fund no less than
		the total value of such Participants’ Accounts under the Plan as of the
		most recent Accounting Date to National City Bank or its successor (the
		“Trustee”) to be
		added to the principal of the trust under the Cooper-Standard Automotive Inc.
		Master Grantor Trust Agreement, between the Company and 

	  

	 16

	 
	 

	 

	 Trustee
		(the “Trust
		Agreement”),
		provided that any funds contained therein or in the Trust shall remain liable
		for the claims of the Company’s general creditors.
		Notwithstanding the foregoing, the Company shall not be obligated to fund the
		Trust at a time when such funding would violate Code Section 409A.

	  

	 (b) Any
		payments of benefits by the Trustee to the Participants pursuant to the Trust
		Agreement shall, to the extent thereof, discharge the Company’s obligation
		to pay benefits under the terms of this Plan, it being the intent of the
		Company that assets in the Trust be held as security for the Company’s
		obligation to pay benefits under this Plan.

	  

	 (c) Any such
		assets held by the Company or an Affiliate in the Trust shall be and remain the
		sole property of the Trust, and the Participants shall have no proprietary
		rights of any nature whatsoever with respect to such assets.

	  

	 17

	 
	 

	 

	 ARTICLE 
		VIII. DISTRIBUTION
		OF BENEFITS

	  

	 Section
		8.1 Settlement
		Date. A
		Participant or, in the event of his death, his Beneficiary shall be entitled to
		distribution of all or a part of the balance of his Account, as provided in
		this Article VIII, following his Settlement Date.

	  

	 Section
		8.2 Amount
		to be Distributed. The
		amount to which a Participant or, in the event of his death, his Beneficiary is
		entitled in accordance with the following provisions of this Article VIII shall
		be based on the Participant’s adjusted Account balance determined as of
		the Accounting Date coincident with or next preceding his
		Settlement Date. 

	  

	 Section
		8.3 Distribution Upon
		Death. Upon
		the death of the Participant, the Company shall pay to the Participant’s
		Beneficiary (or, upon the death of a Beneficiary, to the Beneficiary’s
		estate), as the case may be, the vested balance of the Participant’s
		Account in a cash lump sum. Such payment shall completely discharge the
		Company’s obligations under this Plan. 

	  

	 Section
		8.4 Time
		and Form of Distribution.

	  

	 (a) A
		Participant may specify in a Participation Agreement the time and form of
		distribution for the amounts deferred pursuant to such Participation Agreement
		(including any related Matching Stock Units), as adjusted for earnings or
		losses thereon, as follows:

	  

	 (i) A
		Participant may elect that the deferrals be distributed:

	  

	 (1) Upon the
		Participant’s Separation from Service;

	  

	 (2) Upon the
		later of the Participant’s Separation from Service or a specified year,
		provided that such year must be more than three years following the year to
		which the deferrals relate; or

	  

	 (3) Upon the
		earlier of the Participant’s Separation from Service or a specified year,
		provided that such year must be more than three years following the year to
		which the deferrals relate;

	  

	 provided
		that if, pursuant to clause (3), a Participant erroneously elects a specified
		year that is prior to three years following the year to which the deferrals
		relate, the Participant automatically shall be deemed to have elected the
		fourth year following the year to which the deferrals relate.

	 

	 If a
		Participant elects a specified year, amounts shall be paid in the first quarter
		of such year unless the Participant has elected a date certain in which case
		the payment will be made on or as soon as practicable after the date
		certain.

	 

	 In the
		absence of such an election, deferred amounts shall be distributed upon the
		Participant’s Separation from Service. 

	  

	 18

	 

		
		

		

	 (ii) A
		Participant may elect that the deferrals be distributed upon the
		Participant’s Separation from Service or specified date in one of the
		following forms of distribution:

	  

	 (1) In a
		lump sum;

	  

	 (2) In five
		(5) annual installments, provided, however, that each payment is not less than
		$10,000; or

	  

	 (3) In ten
		(10) annual installments, provided, however, that each payment is not less than
		$10,000; or

	  

	 (4) a
		combination of (i) and (ii), or (i) and (iii), above. The Participant shall
		designate the percentage payable under each option.

	  

	 In the
		absence of such an election, deferred amounts shall be distributed in a lump
		sum. 

	  

	 (iii) Notwithstanding
		the foregoing, the balance of a Participant’s Dividend Equivalent
		subaccount shall automatically be paid upon the Participant’s Separation
		from Service in a cash lump sum. 

	  

	 (iv) The
		Participant’s distribution election shall remain in effect until modified
		by the Participant in accordance with this Section and the terms of the
		Plan.

	  

	 (b) Pursuant
		to the provisions of Code Section 409A, a Participant’s distribution
		election, once made in accordance with the foregoing parameters, may be
		modified: 

	  

	 (i) only if
		permitted by the Administrator, and provided that such change in election may
		not take effect until at least twelve (12) months after the date on which such
		modification is made; and 

	  

	 (ii) with
		respect to a distribution election not related to a payment made on account of
		death, only if such payment is deferred for a period of not less than five (5)
		years from the date the payment would have otherwise been paid (or in the case
		of installments, would have begun to be paid); and

	  

	 (iii) a
		distribution election with respect to a payment to be paid at a specified time
		or pursuant to a fixed schedule may not be changed less than 12 months prior to
		the date on which the payment is scheduled to be paid.

	  

	 (c) All
		distributions from the Participant’s Stock Unit subaccount shall be made
		in the form of shares of Stock, excluding distributions to the
		Participant’s Beneficiary or alternate payee under a domestic relations
		order which shall be paid in cash. Each Stock Unit credited to the
		Participant’s Account shall be paid in the form of one share of Stock. The
		issuance of Stock to a Participant shall be subject to, and conditioned on, the
		Participant’s execution of a shareholder’s agreement in such form as
		is approved by the Board or Committee, and such other documents as are
		generally required of shareholders. 

	  

	 19

	 

		
		

		

	 (d) The
		amount of each installment under Section 8.4(a)(ii) shall be equal to the
		quotient obtained by dividing the Participant’s Account balance subject to
		the installment payment method as of the Settlement Date of such installment
		payment by the number of installment payments remaining to be made to or in
		respect of such Participant at the time of calculation.
		Notwithstanding the foregoing, if the amount of an installment payment (other
		than the final payment) is less than $10,000, then $10,000 shall be paid, even
		if the effect of such payment is to reduce the number of installments that are
		ultimately paid. 

	  

	 (e) Notwithstanding
		any other provision of the Plan, if the Administrator determines that:
		

	  

	 (i) all or
		any portion of a Participant’s Account is required to be included in the
		Participant’s income as a result of a failure to comply with the
		requirements of Code Section 409A and the regulations promulgated
		thereunder, the Company or applicable Affiliate shall immediately distribute
		from the Plan to the Participant or, in the case of the Participant’s
		death, the Participant’s Beneficiary, in one single sum, the amount (but
		not exceeding the amount) that is so taxable. In addition, the Administrator
		may permit an acceleration of the time or schedule of payment otherwise
		applicable to a Participant if (i) payment is necessary to comply with a
		domestic relations order (as defined in Code Section 414(p)(1)(B)) and
		(ii) if the distribution is made to an individual other than the Participant;
		and

	  

	 (ii) the
		Participant is a specified Employee, then any distribution to be made upon a
		Participant’s Separation from Service shall be delayed until the first day
		of the seventh month following the month in which the Participant’s
		Separation from Service occurs. 

	  

	 Section
		8.5 Unforeseeable
		Emergencies. A
		Participant who has incurred an Unforeseeable Emergency may request, and the
		Administrator may, in its sole discretion, approve a distribution of part or
		all of the Participant’s vested Account balance, in accordance with and
		subject to the limitations set forth in this Section. The amount authorized for
		distribution with respect to an Unforeseeable Emergency may not exceed the
		amounts necessary to satisfy the emergency plus amounts necessary to pay taxes
		reasonably anticipated as a result of the distribution, after taking into
		account the extent to which such hardship is or may be relieved through
		reimbursement or compensation by insurance or otherwise by liquidation of the
		Participant’s assets, to the extent that liquidation of such assets would
		not itself cause severe financial hardship. No distributions pursuant to this
		Section 8.5 may be made in excess of the vested value of the Participant’s
		Account at the time of such distribution. 

	  

	 Amounts
		distributed under this Section 8.5 shall first be taken from the portion of the
		Participant’s Account that is not in Stock Units. If Stock Units are
		distributed, they shall be paid in cash based on the most recent Fair Market
		Value as determined prior to the date of distribution.

	  

	 Section
		8.6 Small
		Benefit. In the
		event that, at the time benefits are to commence, the vested balance of the
		portion of the Participant’s Account that is to be paid is $10,000 or
		less, the Company shall pay the benefit in the form of a lump sum payment,
		notwithstanding any 

	  

	 20

	 

		
		

		

	 distribution
		election or other provision of the Plan to the contrary applicable to that
		portion of the Participant’s vested Account. 

	  

	 21

	 

		
		

		

	 ARTICLE 
		IX. BENEFICIARY
		DESIGNATION

	  

	 Section
		9.1 Beneficiary
		Designation.

	  

	 (a) As used
		in the Plan, the term “Beneficiary”
		means:

	  

	 (i) The
		person last designated as his Beneficiary by the Participant in writing on a
		form prescribed by the Administrator;

	  

	 (ii) If there
		is no designated Beneficiary or if the person so designated shall not survive
		the Participant, such Participant’s spouse; or

	  

	 (iii) If no
		such designated Beneficiary and no such spouse is living upon the death of a
		Participant, or if all such persons die prior to the full distribution of the
		Participant’s Account balance, then the legal representative of the last
		survivor of the Participant and such persons, or, if the Administrator shall
		not receive notice of the appointment of any such legal representative within
		one (1) year after such death, the heirs-at-law of such survivor shall be the
		Beneficiaries to whom the then remaining balance of the Participant’s
		Account shall be distributed (in the proportions in which they would inherit
		his intestate personal property).

	  

	 Section
		9.2 Facility
		of Payment.
		Whenever and as often as any Participant or his Beneficiary entitled to
		payments hereunder shall be under a legal disability or, in the sole judgment
		of the Administrator, shall otherwise be unable to apply such payments to his
		own best interests and advantage, the Administrator in the exercise of its
		discretion may direct all or any portion of such payments to be made in any one
		or more of the following ways: (i) directly to him; (ii) to his legal guardian
		or conservator; or (iii) to his spouse or to any other person, to be expended
		for his benefit; and the decision of the Administrator, shall in each case be
		final and binding upon all persons in interest.

	  

	 Section
		9.3 Amendments. A
		Participant may change his Beneficiary designation from time to time by filing
		a new Beneficiary designation with the Administrator. Such new Beneficiary
		designation will cancel all previously filed Beneficiary designations.
		A
		Participant’s designation of his Beneficiary under Section 9.1, or change
		of such designation under this Section 9.3, shall not be effective unless and
		until the Administrator actually receives notice of such designation while the
		Participant is living.

	  

	 22

	 

		
		

		

	 ARTICLE 
		X. ADMINISTRATION

	  

	 Section
		10.1 Administration.

	  

	 (a) The Plan
		shall be administered by the Administrator. The Administrator shall have total
		and exclusive responsibility to control, operate, manage and administer the
		Plan in accordance with its terms.

	  

	 (b) The
		Administrator shall have sole and absolute discretion to interpret the
		provisions of the Plan (including, without limitation, by supplying omissions
		from, correcting deficiencies in, or resolving inconsistencies or ambiguities
		in, the language of the Plan), to make factual findings with respect to any
		issue arising under the Plan, to determine the rights and status under the Plan
		of Participants and other persons, to decide disputes arising under the Plan
		and to make any determinations and findings (including factual findings) with
		respect to the benefits payable thereunder and the persons entitled thereto as
		may be required for the purposes of the Plan. In furtherance of, but without
		limiting the foregoing, the Administrator is hereby granted the following
		specific authorities, which it shall discharge in its sole and absolute
		discretion in accordance with the terms of the Plan (as interpreted, to the
		extent necessary, by the Administrator):

	  

	 (i) To
		determine the amount of benefits, if any, payable to any person under the Plan
		(including, to the extent necessary, making any factual findings with respect
		thereto); and

	  

	 (ii) To
		conduct the claims procedures specified in Section 10.6.

	  

	 All
		decisions of the Administrator as to the facts of any case, as to the
		interpretation of any provision of the Plan or its application to any case, and
		as to any other interpretative matter or other determination or question under
		the Plan shall be final and binding on all parties affected thereby, subject to
		the provisions of Section 10.6.

	  

	 (c) The
		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 may be counsel to the Company.

	  

	 Section
		10.2 Plan
		Administrator. The
		Company shall be the “administrator” under the Plan for purposes of
		ERISA.

	  

	 Section
		10.3 Binding
		Effect of Decisions. All
		decisions and determinations by the Administrator shall be final and binding on
		all parties. All decisions of the Administrator shall be made by the vote of
		the majority, including actions in writing taken without a meeting. All
		elections, notices and directions under the Plan by a Participant shall be made
		on such forms as the Administrator shall prescribe.

	  

	 Section
		10.4 Successors. The
		Company shall require any successor (whether direct or indirect, by purchase,
		merger, consolidation, reorganization or otherwise) to all or substantially all
		of the business and/or assets of the Company expressly to assume and to agree
		to perform this Plan in the same manner and to the same extent the Company
		would be required to perform if no 

	  

	 23

	 
	 

	 

	 such
		succession had taken place. This Plan shall be binding upon and inure to the
		benefit of the Company and any successor of or to the Company, including
		without limitation any persons acquiring directly or indirectly all or
		substantially all of the business and/or assets of the Company whether by sale,
		merger, consolidation, reorganization or otherwise (and such successor shall
		thereafter be deemed the “Company” for the purposes of this Plan),
		and the heirs, Beneficiaries, executors and administrators of each
		Participant.

	  

	 Section
		10.5 Indemnity
		of Committee and Administrator. The
		Company shall indemnify and hold harmless the members of the Committee and the
		Administrator and their duly appointed agents against any and all claims, loss,
		damage, expense or liability arising from any action or failure to act with
		respect to the Plan, except in the case of gross negligence or willful
		misconduct by any such member or agent of the Committee and the
		Administrator.

	  

	 Section
		10.6 Claims
		Procedure.

	  

	 (a) If a
		Participant or his designated Beneficiary (the “Claimant”)
		believes that he or she is entitled to a benefit under the Plan that is not
		provided, the Claimant may file a written claim for payments under this Plan
		with the Administrator. The
		Administrator shall review the claim within 90 days following the date of
		receipt of the claim; provided that the Administrator may determine that an
		additional 90-day extension is necessary due to circumstances beyond the
		Administrator’s control, in which event the Administrator shall notify the
		Claimant prior to the end of the initial period that an extension is needed,
		the reason therefor and the date by which the Administrator expects to render a
		decision. If the Claimant’s claim is denied in whole or part, the
		Administrator shall provide written notice to the Claimant of such denial. The
		written notice shall include the specific reason(s) for the denial; reference
		to specific Plan provisions upon which the denial is based; a description of
		any additional material or information necessary for the Claimant to perfect
		the claim and an explanation of why such material or information is necessary;
		and a description of the Plan’s review procedures (as set forth in
		Paragraph (b)) 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 determination upon review. 

	  

	 (b) The
		Claimant has the right to appeal the Administrator’s decision by filing a
		written appeal to the Administrator within 60 days after Claimant’s
		receipt of the decision or deemed denial. The Claimant will have the
		opportunity, upon request and free of charge, to have reasonable access to and
		copies of all documents, records and other information relevant to the
		Claimant’s appeal. The Claimant may submit written comments, documents,
		records and other information relating to his or her claim with the appeal. The
		Administrator will review all comments, documents, records and other
		information submitted by the Claimant relating to the claim, regardless of
		whether such information was submitted or considered in the initial claim
		determination. The Administrator shall make a determination on the appeal
		within 60 days after receiving the Claimant’s written appeal; provided
		that the Administrator may determine that an additional 60-day extension is
		necessary due to circumstances beyond the Administrator’s control, in
		which event the Administrator shall notify the Claimant prior to the end of the
		initial period that an extension is needed, the reason therefor and the date by
		which the Administrator expects to render a decision. If the Claimant’s
		appeal is denied in whole or part, the Administrator shall provide written
		notice to the claimant of such denial. The written notice shall include the
		

	  

	  

	 24

	 

		
		

		

	 specific
		reason(s) for the denial; reference to specific Plan provisions upon which the
		denial is based; a statement that the Claimant is entitled to receive, upon
		request and free of charge, reasonable access to and copies of all documents,
		records, and other information relevant to the Claimant’s claim; and a
		statement of the Claimant’s right to bring a civil action under
		section 502(a) of ERISA.

	  

	 (c) If the
		Administrator fails to render a decision on a Claimant’s initial claim for
		benefits under the Plan or on the Claimant’s subsequent appeal of the
		Administrator’s adverse decision, such claim or appeal will be deemed to
		be denied. 

	  

	 Section
		10.7 Expenses. All
		direct expenses of the Plan shall be paid by the Company.

	  

	 25

	 

		
		

		

	 ARTICLE 
		XI. AMENDMENT
		AND TERMINATION OF PLAN

	  

	 Section
		11.1 Amendment. The
		Company may at any time amend, suspend or reinstate any or all of the
		provisions of the Plan, except that no such amendment, suspension or
		reinstatement may adversely affect any Participant’s Account balance,
		accrued as of the effective date of such amendment, suspension or
		reinstatement, without such Participant’s prior written consent.
		Notwithstanding the foregoing, any change in the Investments shall not be
		considered an “adverse” amendment. Written notice of any amendment or
		other action with respect to the Plan shall be given to each
		Participant.

	  

	 Section
		11.2 Termination. The
		Company, in its sole discretion, may terminate this Plan at any time and for
		any reason whatsoever (or the Plan shall automatically terminate) in accordance
		with and subject to the following rules:

	  

	 (a) The
		Committee at any time may terminate the Plan and require that all benefits
		accrued be distributed to Participants and Beneficiaries in a single sum
		without regard to a Participant’s prior election as to the form or timing
		of benefit payments, if (i) all plans or arrangements of the same type (as
		defined in regulations issued by the Secretary of the Treasury under Code
		Section 409A) are terminated with respect to all participants, (ii) no payments
		other than those payable under the pre-existing terms of the Plan are made
		within 12 months of the date on which the arrangement is terminated, (iii) all
		payments are completed within 24 months of the termination, and (iv) the
		Company or Affiliate does not, for the five years following the date of
		termination, maintain an arrangement that, under rules prescribed by the
		Secretary of the Treasury, is required to be aggregated with any of the
		terminated arrangements and that covers the Participants.

	  

	 (b) The
		Committee may terminate the Plan and require that all benefits accrued be
		distributed to Participants and Beneficiaries in a single sum without regard to
		a Participant’s prior election as to the form or timing of benefit
		payments, at any time during the period that begins thirty (30) days prior to a
		Change of Control, provided that all substantially similar arrangements (within
		the meaning of Code Section 409A) sponsored by the Company are terminated, so
		that all participants under similar arrangements are required to receive all
		amounts of compensation deferred under the terminated arrangements within
		twelve (12) months of the date of termination of the arrangements.
		

	  

	 (c) The Plan
		shall terminate and all benefits accrued will be distributed in a single sum
		without regard to a Participant’s prior election as to the form of benefit
		payments, if (i) payment is made upon a complete dissolution that is taxed
		under Code Section 331 or upon approval of a bankruptcy court pursuant to
		Section 503(b)(1)(A) of Title 11 of the United States Code, and (ii) the
		amounts deferred under the Plan are included in the gross income of
		Participants and Beneficiaries by the latest of (1) the calendar year in which
		the Plan termination occurs, (2) the calendar year in which the amounts are no
		longer subject to a substantial risk of forfeiture, or (3) the first calendar
		year in which the payment is administratively practicable. 

	  

	 (d) Except
		as provided in Paragraphs (a), (b) and (c) above or as otherwise permitted in
		regulations promulgated by the Secretary of the Treasury under Code Section
		409A, any action that purports to terminate the Plan shall instead be construed
		as an amendment to 

	  

	 26

	 
	 

	 

	 discontinue
		further benefit accruals, but the Plan will continue to operate, in accordance
		with its terms as from time to time amended and in accordance with applicable
		Participant elections, with respect to the Participant’s benefit accrued
		through the date of termination, and in no event shall any such action
		purporting to terminate the Plan form the basis for accelerating distributions
		to Participants and Beneficiaries.

	  

	 (e) Upon
		termination of the Plan, the Administrator shall take those actions necessary
		to administer any Accounts existing prior to the effective date of such
		termination; provided, however, that a termination of the Plan shall not
		adversely affect the value of a Participant’s Account without the
		Participation’s prior written consent. 

	  

	 27

	 

		
		

		

	 ARTICLE
		XII. MISCELLANEOUS

	  

	 Section
		12.1 No
		Guarantee of Employment or
		Service.
		Nothing contained in the Plan shall be construed as a contract of employment
		between the Company and any Employee, or as a right of any Employee or
		Non-Employee Director, to be continued in the employment or service of the
		Company, or as a limitation of the right of the Company to discharge any of its
		Employees, with or without Cause.

	  

	 Section
		12.2 Governing
		Law. All
		questions arising in respect of the Plan, including those pertaining to its
		validity, interpretation and administration, shall be governed, controlled and
		determined in accordance with the applicable provisions of federal law and, to
		the extent not preempted by federal law, the laws of the State of
		Michigan.

	  

	 Section
		12.3 Nonassignability.

	  

	 (a) No right
		or interest under the Plan of a Participant or his or her Beneficiary (or any
		person claiming through or under any of them), other than the surviving spouse
		of any deceased Participant, shall be assignable or transferable in any manner
		or be subject to alienation, anticipation, sale, pledge, encumbrance or other
		legal process or in any manner be liable for or subject to the debts or
		liabilities of any such Participant or Beneficiary. If any Participant or
		Beneficiary (other than the surviving spouse of any deceased Participant) shall
		attempt to or shall transfer, assign, alienate, anticipate, sell, pledge or
		otherwise encumber his or her benefits hereunder or any part thereof, or if by
		reason of his or her bankruptcy or other event happening at any time such
		benefits would devolve upon anyone else or would not be enjoyed by him or her,
		then the Committee, in its discretion, may terminate his or her interest in any
		such benefit to the extent the Committee considers necessary or advisable to
		prevent or limit the effects of such occurrence. Termination shall be effected
		by filing a written “termination declaration” with the General
		Counsel of the Company and making reasonable efforts to deliver a copy to the
		Participant or Beneficiary whose interest is adversely affected (the
		“Terminated
		Participant”).

	  

	 (b) As long
		as the Terminated Participant is alive, any benefits affected by the
		termination shall be retained by the Company and, in the Committee’s sole
		and absolute judgment, may be paid to or expended for the benefit of the
		Terminated Participant, his or her spouse, his or her children or any other
		person or persons in fact dependent upon him or her in such a manner as the
		Committee shall deem proper under the provisions of Code Section 409A. Upon the
		death of the Terminated Participant, all benefits withheld from him or her and
		not paid to others in accordance with the preceding sentence shall be disposed
		of according to the provisions of the Plan that would apply if he or she died
		prior to the time that all benefits to which he or she was entitled were paid
		to him or her.

	  

	 Section
		12.4 Severability. Each
		section, subsection and lesser section of this Plan constitutes a separate and
		distinct undertaking, covenant and/or provision hereof. Whenever possible, each
		provision of this Plan shall be interpreted in such manner as to be effective
		and valid under applicable law. In the event that any provision of this Plan
		shall finally be determined to be unlawful, such provision shall be deemed
		severed from this Plan, but every other provision of this Plan shall remain in
		full force and effect, and in substitution for any such 

	  

	 28

	 

		
		

		

	 provision
		held unlawful, there shall be substituted a provision of similar import
		reflecting the original intention of the patties hereto to the extent
		permissible under law.

	  

	 Section
		12.5 Withholding
		Taxes. (a)
		Notwithstanding the time or schedule of payments otherwise applicable to the
		Participant, the Administrator may direct that distributions from a
		Participant’s vested Account be made (i) to pay the Federal Insurance
		Contributions Act (“FICA”) tax imposed under Code Sections 3101,
		3121(a) and 3121(v)(2) with respect to compensation deferred under the Plan,
		(ii) to pay the income tax at source on wages imposed under Code
		Section 3401 or the corresponding withholding provisions of applicable
		state, local, or foreign tax laws as a result of the payment of FICA taxes, and
		(iii) to pay the additional income tax at source on wages attributable to the
		“pyramiding” of Code Section 3401 wages and taxes; provided that
		the total amount distributed under this provision must not exceed the aggregate
		of the FICA tax and the income tax withholding related to such FICA
		tax.

	  

	 (b) The
		amount of cash or shares of Stock actually distributed to the Participant in
		accordance with the time or schedule of payments applicable to the Participant
		will be reduced by applicable tax withholding except to the extent such
		withholding requirements previously were satisfied in accordance with
		Paragraph (a) above.

	  

	 Section
		12.6 Legal
		Fees, Expenses Following a Change of Control. It is
		the intent of the Company that following a Change of Control no Participant be
		required to incur the expenses associated with the enforcement of his or her
		rights under this Plan by litigation or other legal action because the cost and
		expense thereof would substantially detract from the benefits intended to be
		extended to a Participant hereunder. Accordingly, if following a Change of
		Control it should appear that the Company has failed to comply with any of its
		obligations under this Plan or in the event that the Company or any other
		person takes any action to declare this Plan void or unenforceable, or
		institutes any litigation designed to deny, or to recover from, the Participant
		the benefits intended to be provided to such Participant hereunder, the Company
		irrevocably authorizes such Participant from time to time to retain counsel of
		his or her choice, at the expense of the Company, as hereafter provided, to
		represent such Participant in connection with the initiation or defense of any
		litigation or other legal action, whether by or against the Company or any
		director, officer, stockholder or other person affiliated with the Company in
		any jurisdiction. Notwithstanding any existing or prior attorney-client
		relationship between the Company and such counsel, the Company irrevocably
		consents to such Participant’s entering into an attorney-client
		relationship with such counsel, and in that connection the Company and such
		Participant agree that a confidential relationship shall exist between such
		Participant and such counsel. Following a Change of Control, the Company shall
		pay and be solely responsible for any and all attorneys’ and related fees
		and expenses incurred by such Participant as a result of the Company’s
		failure to perform under this Plan or any provision thereof, or as a result of
		the Company or any person contesting the validity or enforceability of this
		Plan or any provision thereof.

	  

	 Section
		12.7 Top-Hat
		Plan. The
		Plan is intended to be a plan which is unfunded and maintained primarily for
		the purpose of providing deferred compensation for a select group of management
		or highly compensated employees within the meaning of Sections 201, 301 and 401
		of ERISA, and therefore to be exempt from the provisions of Parts 2, 3 and 4 of
		Title I of ERISA. Accordingly, notwithstanding any other provision of the Plan
		and subject to the 

	  

	 29

	 

		
		

		

	 provisions
		of Code Section 409A, the Plan will terminate and no further benefits will
		accrue hereunder in the event it is determined by a court of competent
		jurisdiction or by an opinion of counsel based upon a change in law that the
		Plan constitutes an employee pension benefit plan within the meaning of Section
		3(2) of ERISA, which is not so exempt. In addition and notwithstanding any
		other provision of the Plan, in the absolute discretion of the Committee but
		only to the extent permitted by Code Section 409A, the amount credited to each
		Participant’s Account under the Plan as of the date of termination, which
		shall be an Accounting Date for purposes of the Plan, will be paid immediately
		to such Participant in a single lump sum cash payment. Such payment shall
		completely discharge the Company’s obligations under this
		Plan.

	  

	 Section
		12.8 Relationship
		to Other Plans.
		Subject to the provisions of Code Section 409A, this Plan is intended to serve
		the purposes of and to be consistent with the Incentive Compensation Plans and
		any similar plan approved by the Committee for purposes of this
		Plan.

	  

	 Section
		12.9 Miscellaneous
		Distribution Rules. The
		following rules will supersede any inconsistent distribution provisions of the
		Plan. In the circumstances described in Paragraphs (a), (b) and (c) below, a
		payment that would otherwise be due and payable under the terms of the Plan
		with respect to amounts that are subject to Code Section 409A will be delayed,
		and payment will be made in accordance with this Section.

	  

	 (a) Code
		Section 162(m). If and
		to the extent that the Company reasonably anticipates that its income tax
		deduction with respect to a payment will be limited or eliminated by
		application of Code Section 162(m), the payment shall be deferred until either
		(i) the earliest date at which the Company reasonably anticipates that the
		Company’s deduction for the payment will not be limited or eliminated by
		application of Code Section 162(m), or (ii) the calendar year in which occurs
		the Participant’s Separation from Service.

	  

	 (b) Loan
		Covenants or Similar Contractual Requirements. If and
		to the extent that the Company reasonably anticipates that the making of a
		payment will 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 will cause material harm to the
		Company or an Affiliate, the payment shall be deferred until the earliest date
		at which the Company or Affiliate reasonably anticipates that the making of the
		payment will not cause such violation or such violation will not cause material
		harm to the Company or Affiliate. The foregoing rule shall apply only if the
		Company or Affiliate entered into the loan agreement (including the loan
		covenant) or other similar contract for legitimate business reasons and not for
		the purpose of deferring distribution of amounts subject to Code Section
		409A.

	  

	 (c) Federal
		Securities and Other Applicable Law. If and
		to the extent that the Company reasonably anticipates that the making of a
		payment will violate Federal securities laws or other applicable law, the
		payment shall be deferred until the earliest date at which the Company
		reasonably anticipates that the making of the payment will not cause such
		violation. For this purpose, the making of a payment is not treated as a
		violation of applicable law because the payment would cause the inclusion of
		amounts in gross income of the recipient or result in a penalty or any
		provision of the Code being or becoming applicable.

	  

	 30

	 
	 

	 

	 Section
		12.10 Compliance
		with Code Section 409A.
		Effective January 1, 2005, the Plan was administered in good faith compliance
		with Code Section 409A.

	  

	 31Exhibit 10.34

 

COOPER-STANDARD AUTOMOTIVE INC. 

PRE-2005 EXECUTIVE DEFERRED COMPENSATION PLAN

As
  Amended and Restated Effective January 1, 2005

 

 

 

TABLE OF CONTENTS

 

  	
         

      	
         

      	
         

      	
         

      	
        Page

      	
         

      
	
        Article
          I. PURPOSE

      	
         

      	
        1

      	
         

      
	
        Section
          1.1

      	
         

      	
        Statement
          of Purpose; Effective Date

      	
         

      	
        1

      	
         

      
	 	 	 	 
	
        Article
          II. DEFINITIONS AND CONSTRUCTION

      	
         

      	
        2

      	
         

      
	
        Section
          2.1

      	
         

      	
        Definitions

      	
         

      	
        2

      	
         

      
	
        Section
          2.2

      	
         

      	
        Construction

      	
         

      	
        5

      	
         

      
	 	 	 	 
	
        Article
          III. PARTICIPATION AND DEFERRALS

      	
         

      	
        6

      	
         

      
	
        Section
          3.1

      	
         

      	
        Eligibility
          and Participation

      	
         

      	
        6

      	
         

      
	
        Section
          3.2

      	
         

      	
        Ineligible
          Participant

      	
         

      	
        6

      	
         

      
	 	 	 	 
	
        Article
          IV. DEFERRAL OF BASE SALARY AND CASH AWARDS

      	
         

      	
        8

      	
         

      
	
        Section
          4.1

      	
         

      	
        Deferral
          of Base Salary

      	
         

      	
        8

      	
         

      
	
        Section
          4.2

      	
         

      	
        Deferral
          of Cash Awards

      	
         

      	
        8

      	
         

      
	 	 	 	 
	
        Article
          V. PARTICIPANTS’ ACCOUNTS

      	
         

      	
        9

      	
         

      
	
        Section
          5.1

      	
         

      	
        Establishment
          of Accounts

      	
         

      	
        9

      	
         

      
	
        Section
          5.2

      	
         

      	
        Crediting
          of Base Salary and Cash Awards Deferrals

      	
         

      	
        9

      	
         

      
	
        Section
          5.3

      	
         

      	
        Determination
          of Accounts

      	
         

      	
        9

      	
         

      
	
        Section
          5.4

      	
         

      	
        Adjustments
          to Accounts

      	
         

      	
        9

      	
         

      
	
        Section
          5.5

      	
         

      	
        Statement
          of Accounts

      	
         

      	
        10

      	
         

      
	
        Section
          5.6

      	
         

      	
        Vesting
          of Accounts

      	
         

      	
        10

      	
         

      
	 	 	 	 
	
        Article
          VI. FINANCING OF BENEFITS

      	
         

      	
        11

      	
         

      
	
        Section
          6.1

      	
         

      	
        Investment
          of Accounts

      	
         

      	
        11

      	
         

      
	
        Section
          6.2

      	
         

      	
        Financing
          of Benefits

      	
         

      	
        11

      	
         

      
	
        Section
          6.3

      	
         

      	
        Funding

      	
         

      	
        12

      	
         

      
	 	 	 	 
	
        Article
          VII. DISTRIBUTION OF BENEFITS

      	
         

      	
        13

      	
         

      
	
        Section
          7.1

      	
         

      	
        Settlement
          Date

      	
         

      	
        13

      	
         

      
	
        Section
          7.2

      	
         

      	
        Amount
          to be Distributed

      	
         

      	
        13

      	
         

      
	
        Section
          7.3

      	
         

      	
        Death
          or Termination for Cause Distribution

      	
         

      	
        13

      	
         

      
	
        Section
          7.4

      	
         

      	
        In-Service
          Distribution

      	
         

      	
        13

      	
         

      
	
        Section
          7.5

      	
         

      	
        Form
          of Distribution

      	
         

      	
        13

      	
         

      
	
        Section
          7.6

      	
         

      	
        Hardship
          Distributions

      	
         

      	
        14

      	
         

      
	
        Section
          7.7

      	
         

      	
        Special
          Distributions

      	
         

      	
        14

      	
         

      
	
        Section
          7.8

      	
         

      	
        Small
          Benefit

      	
         

      	
        15

      	
         

      
	 	 	 	 
	
        Article
          VIII. BENEFICIARY DESIGNATION

      	
         

      	
        16

      	
         

      
	
        Section
          8.1

      	
         

      	
        Beneficiary
          Designation

      	
         

      	
        16

      	
         

      
	
        Section
          8.2

      	
         

      	
        Facility
          of Payment

      	
         

      	
        16

      	
         

      
	
        Section
          8.3

      	
         

      	
        Amendments

      	
         

      	
        16

      	
         

      

 

 

i

 

 

 

  	
        Article
          IX. ADMINISTRATION

      	
         

      	
        17

      	
         

      
	
        Section
          9.1

      	
         

      	
        Administration

      	
         

      	
        17

      	
         

      
	
        Section
          9.2

      	
         

      	
        Plan
          Administrator

      	
         

      	
        17

      	
         

      
	
        Section
          9.3

      	
         

      	
        Binding
          Effect of Decisions

      	
         

      	
        17

      	
         

      
	
        Section
          9.4

      	
         

      	
        Successors

      	
         

      	
        18

      	
         

      
	
        Section
          9.5

      	
         

      	
        Indemnity
          of Committee and Administrator

      	
         

      	
        18

      	
         

      
	
        Section
          9.6

      	
         

      	
        Claims
          Procedure

      	
         

      	
        18

      	
         

      
	
        Section
          9.7

      	
         

      	
        Expenses

      	
         

      	
        19

      	
         

      
	 	 	 	 
	
        Article
          X. AMENDMENT AND TERMINATION OF PLAN

      	
         

      	
        20

      	
         

      
	
        Section
          10.1

      	
         

      	
        Amendment

      	
         

      	
        20

      	
         

      
	
        Section
          10.2

      	
         

      	
        Termination

      	
         

      	
        20

      	
         

      
	 	 	 	 
	
        Article
          XI. MISCELLANEOUS

      	
         

      	
        21

      	
         

      
	
        Section
          11.1

      	
         

      	
        No
          Guarantee of Employment

      	
         

      	
        21

      	
         

      
	
        Section
          11.2

      	
         

      	
        Governing
          Law

      	
         

      	
        21

      	
         

      
	
        Section
          11.3

      	
         

      	
        Nonassignability

      	
         

      	
        21

      	
         

      
	
        Section
          11.4

      	
         

      	
        Severability

      	
         

      	
        21

      	
         

      
	
        Section
          11.5

      	
         

      	
        Withholding
          Taxes

      	
         

      	
        22

      	
         

      
	
        Section
          11.6

      	
         

      	
        Legal
          Fees, Expenses Following a Change of Control

      	
         

      	
        22

      	
         

      
	
        Section
          11.7

      	
         

      	
        Top-Hat
          Plan

      	
         

      	
        22

      	
         

      
	
        Section
          11.8

      	
         

      	
        Relationship
          to Other Plans

      	
         

      	
        23

      	
         

      

 

 

ii

 

 

COOPER-STANDARD AUTOMOTIVE, INC. 

EXECUTIVE DEFERRED COMPENSATION PLAN

ARTICLE I.  PURPOSE

Section 1.1 Statement of Purpose; Effective Date. This is the Cooper-Standard Automotive Inc. Executive Deferred Compensation Plan made in the form of this Plan and in related agreements made between the Company and certain management and highly compensated employees of the Company or its Affiliates. The Plan is hereby established to provide designated management and highly compensated employees with the option to defer the receipt of a portion of their regular compensation and cash incentive compensation under any Incentive Compensation Plan. It is intended that the Plan will assist in attracting and retaining employees of exceptional ability by providing these benefits. The Plan shall be effective as the Effective Date for amounts deferred prior to January 1, 2005, and any earnings thereon, which includes amounts
deferred under the Cooper Tire & Rubber Company Deferred Compensation Plan and which became assumed liabilities of the Company in connection with the purchase of the Company by CSA Acquisition Corp., effective December 23, 2004. The terms and conditions of the Plan are set forth below. It is intended that the Plan qualify for the “grandfathered” benefit treatment under Code Section 409A. 

 

 

1

 

 

ARTICLE II. DEFINITIONS AND CONSTRUCTION

Section 2.1 Definitions. Whenever the following terms are used in this Plan they shall have the meanings specified below unless the context clearly indicates to the contrary:

(a) “Account” means the bookkeeping account maintained on the books of the Company pursuant to Articles IV and V for the purpose of accounting for (i) the amount of Base Salary that a Participant elected to defer under the Plan, and (ii) the amount of Cash Award that a Participant elected to defer under the Plan. A Participant’s Account shall consist of (i) a “Cash” Subaccount if the Participant elected to defer the receipt of Base Salary or Cash Awards, and (ii) one or more Subaccounts for Investments.

(b) “Accounting Date” means the last business day of each month and any other date selected by the Committee.

(c) “Accounting Period” means the period beginning on the day immediately following an Accounting Date and ending on the next following Accounting Date.

(d) “Administrator” means a committee consisting of one or more persons who shall be appointed by and serve at the pleasure of the Committee.

(e) “Affiliate” means, with respect to an entity, any entity directly or indirectly controlling, controlled by, or under common control with, such first entity.

(f) “Base Salary” means a Participant’s base earnings paid by the Company without any regard to any increases or decreases in base earnings as a result of an election to defer base earnings under this Plan, or an election between benefits or cash provided under a plan of the Company maintained pursuant to Section 125 or 401(k) of the Code.

(g) “Beneficiary” means the person or persons (natural or otherwise) designated or deemed to be designated by the Participant pursuant to Article VIII to receive benefits payable under the Plan in the event of Participant’s death.

(h) “Board” means the Board of Directors of the Company.

(i) “Cash Award” means an Employee’s awards for a Plan Year which may consist of any annual cash incentive award under any Incentive Compensation Plan which is earned with respect to services performed by the Employee during such Plan Year, whether or not such award is actually paid to the Employee during such Plan Year, and any multi-year cash incentive award under any Incentive Compensation Plan which is earned with respect to a period of service performed by the Employee ending in such Plan Year, whether or not such award is actually paid to the Employee during such Plan Year.

(j) “Cause” means termination of the Participant’s employment with the Company or an Affiliate by the Board because of.

(i) the willful and continued failure by the Participant to perform substantially the duties of the Participant’s position;

 

 

2

 

 

(ii) the willful engaging by the Participant in conduct which is demonstrably injurious to the Company or an Affiliate, monetarily or otherwise; or

(iii) the conviction of a criminal violation involving fraud, embezzlement or theft in connection with Participant’s duties or in the course of Participant’s employment with the Company or an Affiliate.

(k) “Change of Control” means the occurrence of any of the following events:

(i) the sale or disposition, in one or a series of related transactions, of all or substantially all of the assets of CSA to any “person” or “group” (as such terms are defined in Sections 13(d)(3) and 14(d)(2) of the Exchange Act) other than Permitted Holders; or

(ii) any person or group, other than Permitted Holders, is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of greater than or equal to 50% of the total voting power of the voting stock of CSA, including by way of merger, consolidation or otherwise, except where one or more of the Sponsors and/or their respective Affiliates, immediately following such merger, consolidation or other transaction, continue to have the ability to designate or elect a majority of the Board (or the board of directors of the resulting entity or its parent company).

Notwithstanding that a transaction or series of transactions does not constitute a Change of Control, with respect to any Participant it shall be deemed a Change of Control for purposes of the Participant’s entitlement’s hereunder if clause (i), above, is satisfied in respect of the business or division in which such Participant is principally engaged. For the avoidance of doubt, a Change of Control pursuant to the immediately preceding sentence shall not apply to any Participant whose employment is not primarily with and for the business or division that is sold. For purposes of this Section 15, “Permitted Holders” means, as of the date of determination, any and all of (i) an employee benefit plan (or trust forming a part thereof) maintained by (A) the Company, an Affiliate or a related employer or (B) any corporation or other person of which a majority of its voting power of
its voting securities or equity interest is owned, directly or indirectly, by the Company, an Affiliate or a related employer and (ii) the Sponsors and any of their respective Affiliates

(l) “Claimant” has the meaning set forth in Section 9.6(a).

(m) “Code” means the Internal Revenue Code of 1986, as amended from time to time; any reference to a provision of the Code shall also include any successor provision thereto.

(n) “Committee” means the Compensation Committee of the Board.

(o)
  “Company”
  means Cooper-Standard Automotive, Inc. and any successor or successors thereto.

(p)
  “CSA” means CSA Acquisition
  Corp.

 

 

 

3

 

 

(q) “Disability” means when the Participant has been totally disabled by bodily injury or disease so as to prevent him from being physically able to perform Participant’s assigned duties, and such total disability shall have:  (i) continued for five (5) consecutive months, and in the opinion of a qualified physician selected by the Company, such disability will presumably be permanent and continuous during the remainder of the Participant’s life; (ii) entitled the Participant to benefits under any long-term disability plan sponsored by the Company or an Affiliate; or (iii) entitled the Participant to benefits under the Social Security Act of the United States.

(r) “Effective Date” means December 23, 2004. Notwithstanding the foregoing, for purposes of Code Section 409A, the Plan is deemed to be a continuation of the Cooper Tire & Rubber Company Deferred Compensation Plan with respect to amounts deferred under such prior plan prior to the Effective Date.

(s) “Employee” means any employee of the Company or an Affiliate who is, as determined by the Committee, a member of a “select group of management or highly compensated employees” of the Company, within the meaning of Sections 201, 301 and 401 of ERISA, and who is designated by the Committee as an Employee eligible to participate in the Plan.

(t) “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time; any reference to a provision of ERISA shall also include any successor provision thereto.

(u) “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and any rules promulgated thereunder (or any successor provision thereto).

(v) “Financial Hardship” means an unforeseeable financial emergency of the Participant, determined by the Administrator as provided in Section 7.6 on the basis of information supplied by the Participant, arising from an illness, Disability, casualty loss, sudden financial reversal or other such unforeseeable occurrence, but not including foreseeable events such as the purchase of a house or education expenses for children.

(w) “Incentive Compensation Plan” means any incentive compensation plan established by CSA or the Company that provides for Cash Awards.

(x) “Investments” has the meaning set forth in Section 6.1(a).

(y) “Participant” means an Employee participating in the Plan in accordance with the provisions of Section 3.1, or a former Employee retaining benefits under the Plan that have not been fully paid.

(z) “Participation Agreement” means the agreement(s) submitted by a Participant to the Administrator as provided in Section 3.1(b) in the form approved by the Administrator.

(aa) “Plan” means this Cooper-Standard Automotive, Inc. Executive Deferred Compensation Plan as it may, from time to time, be amended.

 

 

4

 

 

(bb) “Plan Year” means the 12-month period beginning January 1 and ending the following December 31, with a first short plan year from December 23, 2004 to December 31, 2004.

(cc) “Request” has the meaning set forth in Section 6.1(b).

(dd) “Retirement” means termination of employment with the Company and its Affiliates on or after (i) attainment of age 65 or (ii) attainment of the age and service necessary to qualify for early retirement under the Cooper-Standard Automotive, Inc. Retirement Plan, as amended.

(ee) “Retirement Committee” has the meaning set forth in Article XIV of the Cooper-Standard Automotive, Inc. Investment Savings Plan, as amended.

(ff) “Settlement Date” means the date on which a Participant terminates employment with the Company. Leaves of absence granted by the Company will not be considered as termination of employment during the term of such leave. Settlement Date shall also include with respect to any deferral the date prior or subsequent to termination of employment selected by a Participant in a Participation Agreement for distribution of all or a portion of the amounts deferred during a Plan Year as provided in Section 7.5.

(gg) “Sponsors” means Cypress Merchant Banking Partners II L.P., Cypress Merchant Banking II C.V., 55th Street Partners II L.P., Cypress Side-By-Side LLC, GS Capital Partners 2000, L.P., GS Capital Partners 2000 Offshore, L.P., GS Capital Partners 2000 GmbH & Co. Beteiligungs KG, GS Capital Partners 2000 Employee Fund, L.P. and Goldman Sachs Direct Investment Fund 2000, L.P.

(hh) “Terminated Participant” has the meaning set forth in Section 11.3(a).

(ii) “Trust” has the meaning set forth in Section 6.3(a).

(jj) “Trust Agreement” has the meaning set forth in Section 6.3(a).

(kk) “Trustee” has the meaning set forth in Section 6.3(a).

Section 2.2 Construction. The masculine gender, where appearing in the Plan, shall be deemed to include the feminine gender, and the singular may include the plural, unless the context clearly indicates to the contrary. The words “hereof,” “herein,” “hereunder,” and other similar compounds of the word “here” shall mean and refer to the entire Plan, and not to any particular provision or Section.

 

 

5

 

 

ARTICLE III.   PARTICIPATION AND DEFERRALS

Section 3.1 Eligibility and Participation.

(a) Eligibility. Eligibility to participate in the Plan is limited to those management and/or highly compensated Employees who have account balances under the Plan as of the Effective Date, December 31, 2004.

(b) Termination of Participation. Participation in the Plan shall continue as long as the Participant is eligible to receive benefits under the Plan. Notwithstanding any other provision of this Article III, a Participant who is actively employed by the Company and who elects a distribution pursuant to Section 7.7 shall immediately terminate his or her participation in the Plan for the balance, if any, of the Plan Year during which the Participant’s election is submitted to the Administrator and for the next two Plan Years.

Section 3.2 Ineligible Participant. Notwithstanding any other provisions of this Plan to the contrary, if the Administrator determines that any Participant may not qualify as a “management or highly compensated employee” within the meaning of ERISA or regulations thereunder, the Administrator may determine, in its sole discretion, that such Participant shall cease to be eligible to participate in this Plan. Upon such determination, the Company shall make an immediate lump sum payment to the Participant equal to the amount credited to his Account. Upon such payment no benefit shall thereafter be payable under this Plan either to the Participant or any Beneficiary of the Participant, and all of the Participant’s elections as to the time and manner of payment of his Account shall be deemed to be cancelled.
Such payment shall completely discharge the Company’s obligations under this Plan.

 

 

6

 

 

ARTICLE IV.   DEFERRAL OF BASE SALARY AND CASH AWARDS

Section 4.1 Deferral of Base Salary. Effective January 1, 2005, no new deferrals of base salary shall be permitted under the Plan. 

Section 4.2 Deferral of Cash Awards. Effective January 1, 2005, no new deferrals of Cash Awards shall be permitted under the Plan. 

 

 

7

 

ARTICLE V.   PARTICIPANTS’ ACCOUNTS

Section 5.1 Establishment of Accounts. The Company, through its accounting records, shall establish an Account for each Participant. In addition, the Company may establish one or more subaccounts of a Participant’s Account, if the Company determines that such subaccounts are necessary or appropriate in administering the Plan.

Section 5.2 Crediting of Base Salary and Cash Awards Deferrals. The portion of a Participant’s Base Salary or Cash Awards that was deferred pursuant to a Participation Agreement was initially credited to the Participant’s Cash Subaccount as of the date the corresponding non-deferred portion of his award would have been paid to the Participant. Any withholding of taxes or other amounts with respect to any deferred award which is required by state, federal or local law shall to the extent possible be withheld from the Participant’s non-deferred compensation.

Section 5.3 Determination of Accounts.

(a) Determination of Accounts. The amount credited to each Participant’s Account as of a particular date shall equal the balance of such Account as of such date. The balance in the Account shall equal the amount credited pursuant to Section 5.2 and shall be adjusted in the manner provided in Section 5.4.

(b) Accounting. The Company, through its accounting records, shall maintain a separate and distinct record of the amount in each Account as adjusted to reflect income, gains, losses and distributions.

Section 5.4 Adjustments to Accounts.

(a) The Participant’s Account shall next be credited or debited, as the case may be, with an income (loss) and expense factor equal to an amount determined by multiplying (i) the balance credited to the Participant’s Account as of the immediately preceding Accounting Date (as adjusted pursuant to Section 5.2 and Section 5.4(a) for the current Accounting Period) by (ii) the rate of return net of expenses as determined by the Administrator for the Accounting Period or portion thereof ending on such Accounting Date on deemed Investments provided for in Section 6.1.

(b) After the crediting or debiting described in subsection (a) above, each Participant’s Account shall be immediately debited with the amount of any distributions under the Plan to or on behalf of the Participant or, in the event of his death, the Participant’s Beneficiary.

Section 5.5 Statement of Accounts. At least annually, a statement shall be furnished to each Participant or, in the event of his death, to his Beneficiary showing the status of his Account as of the end of the most recent Accounting Period, any changes in his Account since the date of the most recent statement furnished to the Participant, and such other information as the Administrator shall determine. 

 

 

8

 

Section 5.6 Vesting of Accounts. Each Participant shall at all times have a nonforfeitable interest in his Account balance.

 

 

9

 

 

ARTICLE VI.   FINANCING OF BENEFITS

Section 6.1 Investment of Accounts.

(a) As soon as practicable after the crediting of any amount to a Participant’s Account, the Company may, in its sole discretion, direct that the Retirement Committee invest the amount credited, in whole or in part, in one or more separate investment funds or vehicles, including, without limitation, certificates of deposit, mutual funds, money market accounts or funds, limited partnerships, real, personal, tangible or intangible property, or debt or equity securities, including equity securities of the Company (measured by market value, book value or any formula selected by the Retirement Committee), (collectively the “Investments”), as the Retirement Committee shall direct, or may direct that the Company retain the amount credited as cash to be added to its general assets. The Company
shall be the sole owner and beneficiary of all Investments, and all contracts and other evidences of the Investments shall be registered in the name of the Company. The Company, under the direction of the Retirement Committee, shall have the unrestricted right to sell any of the Investments included in any Participant’s Account, and the unrestricted right to reinvest the proceeds of the sale in other Investments or to credit the proceeds of the sale to a Participant’s Account as cash.

(b) Each Participant shall file a Request to be effective as of the beginning of the next Accounting Period with respect to the amounts credited to his Account and amounts subsequently credited to his Account. A Request will advise the Administrator as to the Participant’s preference with respect to investment vehicles for all or some portion of such amounts in specified multiples of 5%. The Administrator may, but is under no obligation to, deem such amounts to be invested in accordance with the Request made by the Participant, or the Committee may, instead, in its sole discretion, deem such amounts to be invested in any deemed Investments selected by the Retirement Committee.

(c) A Request, unless modified as described below, shall apply to all amounts credited to a Participant’s Account with respect to each subsequent Plan Year. A Request may be changed with respect to such amounts previously credited to a Participant’s Account as of such date and amounts subsequently credited to his Account by giving the Administrator prior written notice. Any such modified Request shall be effective upon processing by the Administrator but not later than the fifth business day following the day the Request is received by the Administrator.

(d) Earnings on any amounts deemed to have been invested in any Investments shall be deemed to have been reinvested in such Investments.

Section 6.2 Financing of Benefits. Benefits payable under the Plan to a Participant or, in the event of his death, to his Beneficiary shall be paid by the Company from its general assets. Notwithstanding the fact that the Participants’ Accounts may be adjusted by an amount that is measured by reference to the performance of any deemed Investments as provided in Section 6.1, no person entitled to payment under the Plan shall have any claim, right, security interest or other interest in any fund, trust, account, insurance contract, or asset of the Company which may be responsible for such payment.

 

10

 

 

Section 6.3 Funding.

(a) Notwithstanding the provisions of Section 6.2, nothing in this Plan shall preclude the Company from setting aside amounts in trust (the “Trust”) pursuant to one or more trust agreements between a trustee and the Company. However, Participants, their Beneficiaries, and their heirs, successors and assigns, shall have no secured interest or claim in any property or assets of the Company or the Trust. The Company’s obligation under the Plan shall be merely that of an unfunded and unsecured promise of the Company to pay money in the future. Notwithstanding the foregoing, upon the earlier to occur of (i) a Change of Control or (ii) a declaration by the Board that a Change of Control is imminent, the Company shall promptly, to the extent it has not previously done so, and in any event
within five (5) business days after such Change of Control (or on such fifth business day if the Board has declared that a Change of Control is imminent), create an irrevocable trust to hold funds to be used in payment of the obligations of the Company under the Plan, and the Company shall fund such trust by transferring for the Accounts of those Participants whom the Board has identified to the Trustee as having been affected by such Change of Control an amount sufficient to fund no less than the total value of such Participants’ Accounts under the Plan as of the most recent Accounting Date to National City Bank or its successor (the “Trustee”) to be added to the principal of the trust under the Cooper-Standard Automotive, Inc. Master Grantor Trust Agreement, between the Company and Trustee (the “Trust Agreement”), provided that any funds contained therein or in the Trust shall remain liable for the claims of the Company’s general creditors.

(b) Any payments of benefits by the Trustee to the Participant pursuant to the Trust Agreement shall, to the extent thereof, discharge the Company’s obligation to pay benefits under the terms of this Plan, it being the intent of the Company that assets in the Trust be held as security for the Company’s obligation to pay benefits under this Plan.

 

 

11

 

 

ARTICLE VII.   DISTRIBUTION OF BENEFITS

Section 7.1 Settlement Date. A Participant or, in the event of his death, his Beneficiary shall be entitled to distribution of all or a part of the balance of his Account, as provided in this Article VII, following his Settlement Date or Dates.

Section 7.2 Amount to be Distributed. The amount to which a Participant or, in the event of his death, his Beneficiary is entitled in accordance with the following provisions of this Article shall be based on the Participant’s adjusted account balance determined as of the Accounting Date coincident with or next following his Settlement Date or Dates.

Section 7.3 Death or Termination for Cause Distribution. Upon the earlier of (i) termination of service of the Participant as an Employee of the Company for Cause, or (ii) the death of a Participant, the Company shall, in accordance with this Article VII, pay to the Participant or his Beneficiary (or, upon the death of a Beneficiary, to the Beneficiary’s estate), as the case may be, the balance of his Account in a lump sum. Such payment shall completely discharge the Company’s obligations under this Plan.

Section 7.4 In-Service Distribution. A Participant may irrevocably elect to receive an in-service distribution of his deferred Base Salary, Cash Awards and earnings thereon for any Plan Year on or commencing not earlier than the beginning of the third Plan Year following the Plan Year in which such Base Salary and Cash Awards otherwise would have been first payable. A Participant’s election of an in-service distribution shall be made in the Participation Agreement filed as provided in Section 3.1. The Participant shall elect irrevocably to receive such Base Salary and Cash Awards as an in-service distribution under the form provided in Section 7.5(b)(i); provided, however, that Section 7.5(c) shall not apply to an in-service distribution. Any benefits paid to the Participant as an in-service distribution shall reduce
the Participant’s Account.

Section 7.5 Form of Distribution.

(a) As soon as practicable after the end of the Accounting Period in which a Participant’s Settlement Date occurs, but in no event later than 30 days following the end of such Accounting Period, the Company shall distribute or cause to be distributed to the Participant the balance of the Participant’s Account as determined under Section 7.2, under one of the forms provided in this Section. Notwithstanding the foregoing, except as provided in Section 7.3, if elected by the Participant, the distribution of all or a portion of the Participant’s Account may be made or commence on a date between the Settlement Date and the date the Participant attains age sixty-five (65).

(b) Distribution of a Participant’s Cash Subaccount with respect to any Plan Year shall be made in one of the following forms as elected by the Participant:

(i) by payment in cash in a specified sum;

(ii) by payment in cash in not greater than ten annual installments, provided, however, that each payment is not less than $10,000; or

 

 

12

 

 

(iii) a combination of (i) and (ii) above. The Participant shall designate the percentage payable under each option.

(c) The Participant’s election of the form of distribution shall be made by written notice filed with the Administrator at least one (1) year prior to the Participant’s voluntary termination of employment with, or Retirement from, the Company. Any such election may be changed by the Participant at any time and from time to time without the consent of any other person by filing a later signed written election with the Administrator; provided that any election made less than one (1) year prior to the Participant’s voluntary termination of employment or Retirement shall not be valid, and in such case payment shall be made in accordance with the Participant’s prior election; and provided, further, that the Administrator may, in its sole discretion, waive such one (1) year period upon a request of the Participant made while an active or inactive Employee of the Company.

(d) The amount of each installment under Section 7.5(b) shall be equal to the quotient obtained by dividing the Participant’s Account balance as of the date of such installment payment by the number of installment payments remaining to be made to or in respect of such Participant at the time of calculation.

(e) If a Participant fails to make an election in a timely manner as provided in this Section 7.5, distribution shall be made in cash in a single lump sum.

Section 7.6 Hardship Distributions. Upon a finding by the Administrator that a Participant has suffered a Financial Hardship, the Administrator may, in its sole discretion, distribute, or direct the Trustee to distribute, to the Participant an amount which does not exceed the amount required to meet the immediate financial needs created by the Financial Hardship and not reasonably available from other sources of the Participant; provided, however, that in no event shall any amount attributable to a Participation Agreement be distributed less than six (6) months after the date of the applicable Participation Agreement. No distributions pursuant to this Section 7.6 may be made in excess of the value of the Participant’s Account at the time of such distribution.

Section 7.7 Special Distributions. Notwithstanding any other provision of this Article VII, a Participant, whether or not in pay status, may elect to receive a distribution of part or all of his Account in one or more distributions if (and only if) the amount in the Participant’s Account subject to such distribution is reduced by ten percent (10%). Any distribution made pursuant to such an election shall be made as soon as practicable following the date such election is submitted to the Administrator. The remaining ten percent (10%) of the portion of the electing Participant’s Account subject to such distribution shall be forfeited.

Section 7.8 Small Benefit. In the event the Committee determines that the balance of the Participant’s Account is less than $10,000 at the time of commencement of payments, the Company may pay the benefit in the form of a lump sum payment, notwithstanding any provision of the Plan to the contrary. Such lump sum payment shall be equal to the balance of the Participant’s Account, or the portion thereof payable to a Beneficiary.

 

 

13

 

 

ARTICLE VIII.   BENEFICIARY DESIGNATION

Section 8.1 Beneficiary Designation.

(a) As used in the Plan the term “Beneficiary” means:

(i) The person last designated as Beneficiary by the Participant in writing on a form prescribed by the Administrator;

(ii) If there is no designated Beneficiary or if the person so designated shall not survive the Participant, such Participant’s spouse; or

(iii) If no such designated Beneficiary and no such spouse is living upon the death of a Participant, or if all such persons die prior to the full distribution of the Participant’s Account balance, then the legal representative of the last survivor of the Participant and such persons, or, if the Administrator shall not receive notice of the appointment of any such legal representative within one (1) year after such death, the heirs-at-law of such survivor shall be the Beneficiaries to whom the then retraining balance of the Participant’s Account shall be distributed (in the proportions in which they would inherit his intestate personal property).

(b) Any Beneficiary designation may be changed from time to time by the filing of written notice filed with the Administrator. No notice given under this Section shall be effective unless and until the Administrator actually receives such notice.

Section 8.2 Facility of Payment. Whenever and as often as any Participant or his Beneficiary entitled to payments hereunder shall be under a legal Disability or, in the sole judgment of the Administrator, shall otherwise be unable to apply such payments to his own best interests and advantage, the Administrator in the exercise of its discretion may direct all or any portion of such payments to be made in any one or more of the following ways:  (i) directly to him; (ii) to his legal guardian or conservator; or (iii) to his spouse or to any other person, to be expended for his benefit; and the decision of the Administrator, shall in each case be final and binding upon all persons in interest.

Section 8.3 Amendments. Any Beneficiary designation may be changed by a Participant by the filing of a new Beneficiary designation, which will cancel all Beneficiary designations previously filed.

 

 

14

 

 

ARTICLE IX.   ADMINISTRATION

Section 9.1 Administration.

(a) The Plan shall be administered by the Administrator. The Administrator shall have total and exclusive responsibility to control, operate, manage and administer the Plan in accordance with its terms.

(b) The Administrator shall have sole and absolute discretion to interpret the provisions of the Plan (including, without limitation, by supplying omissions from, correcting deficiencies in, or resolving inconsistencies or ambiguities in, the language of the Plan), to make factual findings with respect to any issue arising under the Plan, to determine the rights and status under the Plan of Participants and other persons, to decide disputes arising under the Plan and to make any determinations and findings (including factual findings) with respect to the benefits payable thereunder and the persons entitled thereto as may be required for the purposes of the Plan. In furtherance of, but without limiting the foregoing, the Administrator is hereby granted the following specific authorities, which it shall discharge in its sole and absolute discretion in accordance with the terms of
the Plan (as interpreted, to the extent necessary, by the Administrator):

(i) To determine the amount of benefits, if any, payable to any person under the Plan (including, to the extent necessary, making any factual findings with respect thereto); and

(ii) To conduct the claims procedures specified in Section 9.6.

All decisions of the Administrator as to the facts of any case, as to the interpretation of any provision of the Plan or its application to any case, and as to any other interpretative matter or other determination or question under the Plan shall be final and binding on all parties affected thereby, subject to the provisions of Section 9.6.

(c) The 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 may be counsel to the Company.

Section 9.2 Plan Administrator. The Company shall be the “administrator” under the Plan for purposes of ERISA.

Section 9.3 Binding Effect of Decisions. All decisions and determinations by the Administrator shall be final and binding on all parties. All decisions of the Administrator shall be made by the vote of the majority, including actions in writing taken without a meeting. All elections, notices and directions under the Plan by a Participant shall be made on such forms as the Administrator shall prescribe.

Section 9.4 Successors. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation, reorganization or otherwise) to all or substantially all of the business and/or assets of the Company expressly to assume and to agree to perform this Plan in the same manner and to the same extent the Company would be required to perform if no 

 

 

15

 

 

such succession had taken place. This Plan shall be binding upon and inure to the benefit of the Company and any successor of or to the Company, including without limitation any persons acquiring directly or indirectly all or substantially all of the business and/or assets of the Company whether by sale, merger, consolidation, reorganization or otherwise (and such successor shall thereafter be deemed the “Company” for the purposes of this Plan), and the heirs, Beneficiaries, executors and administrators of each Participant.

Section 9.5 Indemnity of Committee and Administrator. The Company shall indemnify and hold harmless the members of the Committee and the Administrator and their duly appointed agents against any and all claims, loss, damage, expense or liability arising from any action or failure to act with respect to the Plan, except in the case of gross negligence or willful misconduct by any such member or agent of the Committee and the Administrator.

Section 9.6 Claims Procedure.

(a) The Participant or his designated beneficiary (the “Claimant”) may file a written claim for payments under this Plan with the Administrator. Except under special circumstances, such claims shall be approved or denied within ninety (90) days. Any denial of such claim shall be by written notice from the Administrator stating:

(i) the specific reason for the denial;

(ii) the specific provisions of the Plan or related agreements on which the denial is based;

(iii) a description of any additional material or information necessary for the Claimant to perfect the claim, along with an explanation as to why such material or information is necessary; and

(iv) information as to how the Claimant may submit the claim to the Administrator for review.

(b) The Claimant, within ninety (90) days of such notice, may file with the Administrator a written request for a review of the denial. Except under special circumstances, the Administrator’s decision on review shall be made within sixty (60) days of the request. Such decision shall be by a written notice stating the reasons for the decision, and such decision shall be final.

Section 9.7 Expenses. All direct expenses of the Plan shall be paid by the Company.

 

 

16

 

 

ARTICLE X.   AMENDMENT AND TERMINATION OF PLAN

Section 10.1 Amendment. The Company may at any time amend, suspend or reinstate any or all of the provisions of the Plan, except that no such amendment, suspension or reinstatement may adversely affect any Participant’s Account, as it existed as of the effective date of such amendment, suspension or reinstatement, without such Participant’s prior written consent. Written notice of any amendment or other action with respect to the Plan shall be given to each Participant. In addition, no amendment may be made without the Participant’s prior written consent that would be considered a material amendment under Code Section 409A that would cause amounts deferred hereunder to lose their “grandfathered” status under Code Section 409A. 

Section 10.2 Termination. The Company, in its sole discretion, may terminate this Plan at any time and for any reason whatsoever. Upon termination of the Plan, the Administrator shall take those actions necessary to administer any Accounts existing prior to the effective date of such termination; provided, however, that a termination of the Plan shall not adversely affect the value of a Participant’s Account, the earnings credited to a Participant’s Account under Section 5.5(b) or the timing or method of distribution of a Participant’s Account without the Participation’s prior written consent. 

 

 

17

 

 

ARTICLE XI.   MISCELLANEOUS

Section 11.1 No Guarantee of Employment. Nothing contained in the Plan shall be construed as a contract of employment between the Company and any Employee, or as a right of any Employee, to be continued in the employment of the Company, or as a limitation of the right of the Company to discharge any of its Employees, with or without Cause.

Section 11.2 Governing Law. All questions arising in respect of the Plan, including those pertaining to its validity, interpretation and administration, shall be governed, controlled and determined in accordance with the applicable provisions of federal law and, to the extent not preempted by federal law, the laws of the State of Michigan.

Section 11.3 Nonassignability.

(a) No right or interest under the Plan of a Participant or his or her Beneficiary (or any person claiming through or under any of them), other than the surviving spouse of any deceased Participant, shall be assignable or transferable in any manner or be subject to alienation, anticipation, sale, pledge, encumbrance or other legal process or in any manner be liable for or subject to the debts or liabilities of any such Participant or Beneficiary. If any Participant or Beneficiary (other than the surviving spouse of any deceased Participant) shall attempt to or shall transfer, assign, alienate, anticipate, sell, pledge or otherwise encumber his or her benefits hereunder or any part thereof, or if by reason of his or her bankruptcy or other event happening at any time such benefits would devolve upon anyone else or would not be enjoyed by him or her, then the Committee, in its
discretion, may terminate his or her interest in any such benefit to the extent the Committee considers necessary or advisable to prevent or limit the effects of such occurrence. Termination shall be effected by filing a written “termination declaration” with the General Counsel of the Company and making reasonable efforts to deliver a copy to the Participant or Beneficiary whose interest is adversely affected (the “Terminated Participant”).

(b) As long as the Terminated Participant is alive, any benefits affected by the termination shall be retained by the Company and, in the Committee’s sole and absolute judgment, may be paid to or expended for the benefit of the Terminated Participant, his or her spouse, his or her children or any other person or persons in fact dependent upon him or her in such a manner as the Committee shall deem proper. Upon the death of the Terminated Participant, all benefits withheld from him or her and not paid to others in accordance with the preceding sentence shall be disposed of according to the provisions of the Plan that would apply if he or she died prior to the time that all benefits to which he or she was entitled were paid to him or her.

Section 11.4 Severability. Each section, subsection and lesser section of this Plan constitutes a separate and distinct undertaking, covenant and/or provision hereof. Whenever possible, each provision of this Plan shall be interpreted in such manner as to be effective and valid under applicable law. In the event that any provision of this Plan shall finally be determined to be unlawful, such provision shall be deemed severed from this Plan, but every other provision of this Plan shall remain in full force and effect, and in substitution for any such

 

18

 

provision held unlawful, there shall be substituted a provision of similar import reflecting the original intention of the patties hereto to the extent permissible under law.

Section 11.5 Withholding Taxes. If the Company is required to withhold any taxes or other amounts from a Participant’s Account pursuant to any state, federal or local law, such amounts shall be withheld from the amounts paid under the Plan.

Section 11.6 Legal Fees, Expenses Following a Change of Control. It is the intent of the Company that following a Change of Control no Employee or former Employee be required to incur the expenses associated with the enforcement of his or her rights under this Plan by litigation or other legal action because the cost and expense thereof would substantially detract from the benefits intended to be extended to an Employee hereunder. Accordingly, if following a Change of Control it should appear that the Company has failed to comply with any of its obligations under this Plan or in the event that the Company or any other person takes any action to declare this Plan void or unenforceable, or institutes any litigation designed to deny, or to recover from, the Employee the benefits intended to be provided to such
 Employee
hereunder, the Company irrevocably authorizes such Employee from time to time to retain counsel of his or her choice, at the expense of the Company, as hereafter provided, to represent such Employee in connection with the initiation or defense of any litigation or other legal action, whether by or against the Company or any director, officer, stockholder or other person affiliated with the Company in any jurisdiction. Notwithstanding any existing or prior attorney-client relationship between the Company and such counsel, the Company irrevocably consents to such Employee’s entering into an attorney-client relationship with such counsel, and in that connection the Company and such Employee agree that a confidential relationship shall exist between such Employee and such counsel. Following a Change of Control, the Company shall pay and be solely responsible for any and all attorneys’ and related fees and expenses incurred by such Employee as a result of the Company’s
failure to perform under this Plan or any provision thereof, or as a result of the Company or any person contesting the validity or enforceability of this Plan or any provision thereof.

Section 11.7 Top-Hat Plan. The Plan is intended to be a plan which is unfunded and maintained primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees within the meaning of Sections 201, 301 and 401 of ERISA, and therefore to be exempt from the provisions of Parts 2, 3 and 4 of Title I of ERISA. Accordingly, notwithstanding any other provision of the Plan, the Plan will terminate and no further benefits will accrue hereunder in the event it is determined by a court of competent jurisdiction or by an opinion of counsel based upon a change in law that the Plan constitutes an employee pension benefit plan within the meaning of Section 3(2) of ERISA, which is not so exempt. In addition and notwithstanding any other provision of the Plan, in the absolute
discretion of the Committee, the amount credited to each Participant’s Account under the Plan as of the date of termination, which shall be an Accounting Date for purposes of the Plan, will be paid immediately to such Participant in a single lump sum cash payment. Such payment shall completely discharge the Company’s obligations under this Plan.

Section 11.8 Relationship to Other Plans. This Plan is intended to serve the purposes of and to be consistent with the Incentive Compensation Plans and any similar plan approved by the Committee for purposes of this Plan.

 

 

 

19

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}]]