Document:

Exhibit 10.1

(Multicurrency -- Cross Border)

                                    ISDA(R)
                 International Swap Dealers Association, Inc.

                               MASTER AGREEMENT

                          dated as of April 28, 2006

     Wachovia Bank, National Association and STRATS(SM) Trust for Allstate
                            Corporation Securities,
                                 Series 2006-3

have entered and/or anticipate entering into one or more transactions (each a
"Transaction") that are or will be governed by this Master Agreement, which
includes the schedule (the "Schedule"), and the documents and other confirming
evidence (each a "Confirmation") exchanged between the parties confirming
those Transactions.

Accordingly, the parties agree as follows: --

1.    Interpretation

(a) Definitions. The terms defined in Section 14 and in the Schedule will have
the meanings therein specified for the purpose of this Master Agreement.

(b) Inconsistency. In the event of any inconsistency between the provisions of
the Schedule and the other provisions of this Master Agreement, the Schedule
will prevail. In the event of any inconsistency between the provisions of any
Confirmation and this Master Agreement (including the Schedule), such
Confirmation will prevail for the purpose of the relevant Transaction.

(c) Single Agreement. All Transactions are entered into in reliance on the
fact that this Master Agreement and all Confirmations form a single agreement
between the parties (collectively referred to as this "Agreement"), and the
parties would not otherwise enter into any Transactions.

2.    Obligations

(a)   General Conditions.

      (i) Each party will make each payment or delivery specified in each
      Confirmation to be made by it, subject to the other provisions of this
      Agreement.

      (ii) Payments under this Agreement will be made on the due date for
      value on that date in the place of the account specified in the relevant
      Confirmation or otherwise pursuant to this Agreement, in freely
      transferable funds and in the manner customary for payments in the
      required currency. Where settlement is by delivery (that is, other than
      by payment), such delivery will be made for receipt on the due date in
      the manner customary for the relevant obligation unless otherwise
      specified in the relevant Confirmation or elsewhere in this Agreement.

      (iii) Each obligation of each party under Section 2(a)(i) is subject to
      (1) the condition precedent that no Event of Default or Potential Event
      of Default with respect to the other party has occurred and is
      continuing, (2) the condition precedent that no Early Termination Date
      in respect of the relevant Transaction has occurred or been effectively
      designated and (3) each other applicable condition precedent specified
      in this Agreement.

      Copyright (C) 1992 by International Swap Dealers Association, Inc.

<PAGE>

(b) Change of Account. Either party may change its account for receiving a
payment or delivery by giving notice to the other party at least five Local
Business Days prior to the scheduled date for the payment or delivery to which
such change applies unless such other party gives timely notice of a
reasonable objection to such change.

(c) Netting. If on any date amounts would otherwise be payable: --

      (i)   in the same currency; and

      (ii)  in respect of the same Transaction,

by each party to the other, then, on such date, each party's obligation to
make payment of any such amount will be automatically satisfied and discharged
and, if the aggregate amount that would otherwise have been payable by one
party exceeds the aggregate amount that would otherwise have been payable by
the other party, replaced by an obligation upon the party by whom the larger
aggregate amount would have been payable to pay to the other party the excess
of the larger aggregate amount over the smaller aggregate amount.

The parties may elect in respect of two or more Transactions that a net amount
will be determined in respect of all amounts payable on the same date in the
same currency in respect of such Transactions, regardless of whether such
amounts are payable in respect of the same Transaction. The election may be
made in the Schedule or a Confirmation by specifying that subparagraph (ii)
above will not apply to the Transactions identified as being subject to the
election, together with the starting date (in which case subparagraph (ii)
above will not, or will cease to, apply to such Transactions from such date).
This election may be made separately for different groups of Transactions and
will apply separately to each pairing of Offices through which the parties
make and receive payments or deliveries.

(d)   Deduction or Withholding for Tax.

      (i) Gross-Up. All payments under this Agreement will be made without any
      deduction or withholding for or on account of any Tax unless such
      deduction or withholding is required by any applicable law, as modified
      by the practice of any relevant governmental revenue authority, then in
      effect. If a party is so required to deduct or withhold, then that party
      ("X") will: --

            (1) promptly notify the other party ("Y") of such requirement;

            (2) pay to the relevant authorities the full amount required to be
            deducted or withheld (including the full amount required to be
            deducted or withheld from any additional amount paid by X to Y
            under this Section 2(d)) promptly upon the earlier of determining
            that such deduction or withholding is required or receiving notice
            that such amount has been assessed against Y;

            (3) promptly forward to Y an official receipt (or a certified
            copy), or other documentation reasonably acceptable to Y,
            evidencing such payment to such authorities; and

            (4) if such Tax is an Indemnifiable Tax, pay to Y, in addition to
            the payment to which Y is otherwise entitled under this Agreement,
            such additional amount as is necessary to ensure that the net
            amount actually received by Y (free and clear of Indemnifiable
            Taxes, whether assessed against X or Y) will equal the full amount
            Y would have received had no such deduction or withholding been
            required. However, X will not be required to pay any additional
            amount to Y to the extent that it would not be required to be paid
            but for: --

                  (A) the failure by Y to comply with or perform any agreement
                  contained in Section 4(a)(i), 4(a)(iii) or 4(d); or

                  (B) the failure of a representation made by Y pursuant to
                  Section 3(f) to be accurate and true unless such failure
                  would not have occurred but for (I) any action taken by a
                  taxing authority, or brought in a court of competent
                  jurisdiction, on or after the date on which a Transaction is
                  entered into (regardless of whether such action is taken or
                  brought with respect to a party to this Agreement) or (II) a
                  Change in Tax Law.

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      (ii)  Liability. If: --

            (1) X is required by any applicable law, as modified by the
            practice of any relevant governmental revenue authority, to make
            any deduction or withholding in respect of which X would not be
            required to pay an additional amount to Y under Section
            2(d)(i)(4);

            (2) X does not so deduct or withhold; and

            (3) a liability resulting from such Tax is assessed directly
            against X,

      then, except to the extent Y has satisfied or then satisfies the
      liability resulting from such Tax, Y will promptly pay to X the amount
      of such liability (including any related liability for interest, but
      including any related liability for penalties only if Y has failed to
      comply with or perform any agreement contained in Section 4(a)(i),
      4(a)(iii) or 4(d)).

(e) Default Interest; Other Amounts. Prior to the occurrence or effective
designation of an Early Termination Date in respect of the relevant
Transaction, a party that defaults in the performance of any payment
obligation will, to the extent permitted by law and subject to Section 6(c),
be required to pay interest (before as well as after judgment) on the overdue
amount to the other party on demand in the same currency as such overdue
amount, for the period from (and including) the original due date for payment
to (but excluding) the date of actual payment, at the Default Rate. Such
interest will be calculated on the basis of daily compounding and the actual
number of days elapsed. If, prior to the occurrence or effective designation
of an Early Termination Date in respect of the relevant Transaction, a party
defaults in the performance of any obligation required to be settled by
delivery, it will compensate the other party on demand if and to the extent
provided for in the relevant Confirmation or elsewhere in this Agreement.

3.    Representations

Each party represents to the other party (which representations will be deemed
to be repeated by each party on each date on which a Transaction is entered
into and, in the case of the representations in Section 3(f), at all times
until the termination of this Agreement) that: --

(a)   Basic Representations.

      (i) Status. It is duly organised and validly existing under the laws of
      the jurisdiction of its organisation or incorporation and, if relevant
      under such laws, in good standing;

      (ii) Powers. It has the power to execute this Agreement and any other
      documentation relating to this Agreement to which it is a party, to
      deliver this Agreement and any other documentation relating to this
      Agreement that it is required by this Agreement to deliver and to
      perform its obligations under this Agreement and any obligations it has
      under any Credit Support Document to which it is a party and has taken
      all necessary action to authorise such execution, delivery and
      performance;

      (iii) No Violation or Conflict. Such execution, delivery and performance
      do not violate or conflict with any law applicable to it, any provision
      of its constitutional documents, any order or judgment of any court or
      other agency of government applicable to it or any of its assets or any
      contractual restriction binding on or affecting it or any of its assets;

      (iv) Consents. All governmental and other consents that are required to
      have been obtained by it with respect to this Agreement or any Credit
      Support Document to which it is a party have been obtained and are in
      full force and effect and all conditions of any such consents have been
      complied with; and

      (v) Obligations Binding. Its obligations under this Agreement and any
      Credit Support Document to which it is a party constitute its legal,
      valid and binding obligations, enforceable in accordance with their
      respective terms (subject to applicable bankruptcy, reorganisation,
      insolvency, moratorium or similar laws affecting creditors' rights
      generally and subject, as to enforceability, to equitable principles of
      general application (regardless of whether enforcement is sought in a
      proceeding in equity or at law)).

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(b) Absence of Certain Events. No Event of Default or Potential Event of
Default or, to its knowledge, Termination Event with respect to it has
occurred and is continuing and no such event or circumstance would occur as a
result of its entering into or performing its obligations under this Agreement
or any Credit Support Document to which it is a party.

(c) Absence of Litigation. There is not pending or, to its knowledge,
threatened against it or any of its Affiliates any action, suit or proceeding
at law or in equity or before any court, tribunal, governmental body, agency
or official or any arbitrator that is likely to affect the legality, validity
or enforceability against it of this Agreement or any Credit Support Document
to which it is a party or its ability to perform its obligations under this
Agreement or such Credit Support Document.

(d) Accuracy of Specified Information. All applicable information that is
furnished in writing by or on behalf of it to the other party and is
identified for the purpose of this Section 3(d) in the Schedule is, as of the
date of the information, true, accurate and complete in every material
respect.

(e) Payer Tax Representation. Each representation specified in the Schedule as
being made by it for the purpose of this Section 3(e) is accurate and true.

(f) Payee Tax Representations. Each representation specified in the Schedule
as being made by it for the purpose of this Section 3(f) is accurate and true.

4.    Agreements

Each party agrees with the other that, so long as either party has or may have
any obligation under this Agreement or under any Credit Support Document to
which it is a party: --

(a) Furnish Specified Information. It will deliver to the other party or, in
certain cases under subparagraph (iii) below, to such government or taxing
authority as the other party reasonably directs: --

      (i) any forms, documents or certificates relating to taxation specified
      in the Schedule or any Confirmation;

      (ii) any other documents specified in the Schedule or any Confirmation;
      and

      (iii) upon reasonable demand by such other party, any form or document
      that may be required or reasonably requested in writing in order to
      allow such other party or its Credit Support Provider to make a payment
      under this Agreement or any applicable Credit Support Document without
      any deduction or withholding for or on account of any Tax or with such
      deduction or withholding at a reduced rate (so long as the completion,
      execution or submission of such form or document would not materially
      prejudice the legal or commercial position of the party in receipt of
      such demand), with any such form or document to be accurate and
      completed in a manner reasonably satisfactory to such other party and to
      be executed and to be delivered with any reasonably required
      certification,

in each case by the date specified in the Schedule or such Confirmation or, if
none is specified, as soon as reasonably practicable.

(b) Maintain Authorisations. It will use all reasonable efforts to maintain in
full force and effect all consents of any governmental or other authority that
are required to be obtained by it with respect to this Agreement or any Credit
Support Document to which it is a party and will use all reasonable efforts to
obtain any that may become necessary in the future.

(c) Comply with Laws. It will comply in all material respects with all
applicable laws and orders to which it may be subject if failure so to comply
would materially impair its ability to perform its obligations under this
Agreement or any Credit Support Document to which it is a party.

(d) Tax Agreement. It will give notice of any failure of a representation made
by it under Section 3(f) to be accurate and true promptly upon learning of
such failure.

(e) Payment of Stamp Tax. Subject to Section 11, it will pay any Stamp Tax
levied or imposed upon it or in respect of its execution or performance of
this Agreement by a jurisdiction in which it is incorporated,

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<PAGE>

organised, managed and controlled, or considered to have its seat, or in which
a branch or office through which it is acting for the purpose of this
Agreement is located ("Stamp Tax Jurisdiction") and will indemnify the other
party against any Stamp Tax levied or imposed upon the other party or in
respect of the other party's execution or performance of this Agreement by any
such Stamp Tax Jurisdiction which is not also a Stamp Tax Jurisdiction with
respect to the other party.

5.    Events of Default and Termination Events

(a) Events of Default. The occurrence at any time with respect to a party or,
if applicable, any Credit Support Provider of such party or any Specified
Entity of such party of any of the following events constitutes an event of
default (an "Event of Default") with respect to such party: --

      (i) Failure to Pay or Deliver. Failure by the party to make, when due,
      any payment under this Agreement or delivery under Section 2(a)(i) or
      2(e) required to be made by it if such failure is not remedied on or
      before the third Local Business Day after notice of such failure is
      given to the party;

      (ii) Breach of Agreement. Failure by the party to comply with or perform
      any agreement or obligation (other than an obligation to make any
      payment under this Agreement or delivery under Section 2(a)(i) or 2(e)
      or to give notice of a Termination Event or any agreement or obligation
      under Section 4(a)(i), 4(a)(iii) or 4(d)) to be complied with or
      performed by the party in accordance with this Agreement if such failure
      is not remedied on or before the thirtieth day after notice of such
      failure is given to the party;

      (iii) Credit Support Default.

            (1) Failure by the party or any Credit Support Provider of such
            party to comply with or perform any agreement or obligation to be
            complied with or performed by it in accordance with any Credit
            Support Document if such failure is continuing after any
            applicable grace period has elapsed;

            (2) the expiration or termination of such Credit Support Document
            or the failing or ceasing of such Credit Support Document to be in
            full force and effect for the purpose of this Agreement (in either
            case other than in accordance with its terms) prior to the
            satisfaction of all obligations of such party under each
            Transaction to which such Credit Support Document relates without
            the written consent of the other party; or

            (3) the party or such Credit Support Provider disaffirms,
            disclaims, repudiates or rejects, in whole or in part, or
            challenges the validity of, such Credit Support Document;

(iv) Misrepresentation. A representation (other than a representation under
Section 3(e) or (f)) made or repeated or deemed to have been made or repeated
by the party or any Credit Support Provider of such party in this Agreement or
any Credit Support Document proves to have been incorrect or misleading in any
material respect when made or repeated or deemed to have been made or
repeated;

(v) Default under Specified Transaction. The party, any Credit Support
Provider of such party or any applicable Specified Entity of such party (1)
defaults under a Specified Transaction and, after giving effect to any
applicable notice requirement or grace period, there occurs a liquidation of,
an acceleration of obligations under, or an early termination of, that
Specified Transaction, (2) defaults, after giving effect to any applicable
notice requirement or grace period, in making any payment or delivery due on
the last payment, delivery or exchange date of, or any payment on early
termination of, a Specified Transaction (or such default continues for at
least three Local Business Days if there is no applicable notice requirement
or grace period) or (3) disaffirms, disclaims, repudiates or rejects, in whole
or in part, a Specified Transaction (or such action is taken by any person or
entity appointed or empowered to operate it or act on its behalf);

(vi) Cross Default. If "Cross Default" is specified in the Schedule as
applying to the party, the occurrence or existence of (1) a default, event of
default or other similar condition or event (however

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described) in respect of such party, any Credit Support Provider of such party
or any applicable Specified Entity of such party under one or more agreements
or instruments relating to Specified Indebtedness of any of them (individually
or collectively) in an aggregate amount of not less than the applicable
Threshold Amount (as specified in the Schedule) which has resulted in such
Specified Indebtedness becoming, or becoming capable at such time of being
declared, due and payable under such agreements or instruments, before it
would otherwise have been due and payable or (2) a default by such party, such
Credit Support Provider or such Specified Entity (individually or
collectively) in making one or more payments on the due date thereof in an
aggregate amount of not less than the applicable Threshold Amount under such
agreements or instruments (after giving effect to any applicable notice
requirement or grace period);

(vii) Bankruptcy. The party, any Credit Support Provider of such party or any
applicable Specified Entity of such party: --

      (1) is dissolved (other than pursuant to a consolidation, amalgamation
      or merger); (2) becomes insolvent or is unable to pay its debts or fails
      or admits in writing its inability generally to pay its debts as they
      become due; (3) makes a general assignment, arrangement or composition
      with or for the benefit of its creditors; (4) institutes or has
      instituted against it a proceeding seeking a judgment of insolvency or
      bankruptcy or any other relief under any bankruptcy or insolvency law or
      other similar law affecting creditors' rights, or a petition is
      presented for its winding-up or liquidation, and, in the case of any
      such proceeding or petition instituted or presented against it, such
      proceeding or petition (A) results in a judgment of insolvency or
      bankruptcy or the entry of an order for relief or the making of an order
      for its winding-up or liquidation or (B) is not dismissed, discharged,
      stayed or restrained in each case within 30 days of the institution or
      presentation thereof; (5) has a resolution passed for its winding-up,
      official management or liquidation (other than pursuant to a
      consolidation, amalgamation or merger); (6) seeks or becomes subject to
      the appointment of an administrator, provisional liquidator,
      conservator, receiver, trustee, custodian or other similar official for
      it or for all or substantially all its assets; (7) has a secured party
      take possession of all or substantially all its assets or has a
      distress, execution, attachment, sequestration or other legal process
      levied, enforced or sued on or against all or substantially all its
      assets and such secured party maintains possession, or any such process
      is not dismissed, discharged, stayed or restrained, in each case within
      30 days thereafter; (8) causes or is subject to any event with respect
      to it which, under the applicable laws of any jurisdiction, has an
      analogous effect to any of the events specified in clauses (1) to (7)
      (inclusive); or (9) takes any action in furtherance of, or indicating
      its consent to, approval of, or acquiescence in, any of the foregoing
      acts; or

(viii) Merger Without Assumption. The party or any Credit Support Provider of
such party consolidates or amalgamates with, or merges with or into, or
transfers all or substantially all its assets to, another entity and, at the
time of such consolidation, amalgamation, merger or transfer: --

      (1) the resulting, surviving or transferee entity fails to assume all
      the obligations of such party or such Credit Support Provider under this
      Agreement or any Credit Support Document to which it or its predecessor
      was a party by operation of law or pursuant to an agreement reasonably
      satisfactory to the other party to this Agreement; or

      (2) the benefits of any Credit Support Document fail to extend (without
      the consent of the other party) to the performance by such resulting,
      surviving or transferee entity of its obligations under this Agreement.

(b) Termination Events. The occurrence at any time with respect to a party or,
if applicable, any Credit Support Provider of such party or any Specified
Entity of such party of any event specified below constitutes an Illegality if
the event is specified in (i) below, a Tax Event if the event is specified in
(ii) below or a Tax Event Upon Merger if the event is specified in (iii)
below, and, if specified to be applicable, a Credit Event

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Upon Merger if the event is specified pursuant to (iv) below or an Additional
Termination Event if the event is specified pursuant to (v) below: --

      (i) Illegality. Due to the adoption of, or any change in, any applicable
      law after the date on which a Transaction is entered into, or due to the
      promulgation of, or any change in, the interpretation by any court,
      tribunal or regulatory authority with competent jurisdiction of any
      applicable law after such date, it becomes unlawful (other than as a
      result of a breach by the party of Section 4(b)) for such party (which
      will be the Affected Party): --

            (1) to perform any absolute or contingent obligation to make a
            payment or delivery or to receive a payment or delivery in respect
            of such Transaction or to comply with any other material provision
            of this Agreement relating to such Transaction; or

            (2) to perform, or for any Credit Support Provider of such party
            to perform, any contingent or other obligation which the party (or
            such Credit Support Provider) has under any Credit Support
            Document relating to such Transaction;

      (ii) Tax Event. Due to (x) any action taken by a taxing authority, or
      brought in a court of competent jurisdiction, on or after the date on
      which a Transaction is entered into (regardless of whether such action
      is taken or brought with respect to a party to this Agreement) or (y) a
      Change in Tax Law, the party (which will be the Affected Party) will, or
      there is a substantial likelihood that it will, on the next succeeding
      Scheduled Payment Date (1) be required to pay to the other party an
      additional amount in respect of an Indemnifiable Tax under Section
      2(d)(i)(4) (except in respect of interest under Section 2(e), 6(d)(ii)
      or 6(e)) or (2) receive a payment from which an amount is required to be
      deducted or withheld for or on account of a Tax (except in respect of
      interest under Section 2(e), 6(d)(ii) or 6(e)) and no additional amount
      is required to be paid in respect of such Tax under Section 2(d)(i)(4)
      (other than by reason of Section 2(d)(i)(4)(A) or (B));

      (iii) Tax Event Upon Merger. The party (the "Burdened Party") on the
      next succeeding Scheduled Payment Date will either (1) be required to
      pay an additional amount in respect of an Indemnifiable Tax under
      Section 2(d)(i)(4) (except in respect of interest under Section 2(e),
      6(d)(ii) or 6(e)) or (2) receive a payment from which an amount has been
      deducted or withheld for or on account of any Indemnifiable Tax in
      respect of which the other party is not required to pay an additional
      amount (other than by reason of Section 2(d)(i)(4)(A) or (B)), in either
      case as a result of a party consolidating or amalgamating with, or
      merging with or into, or transferring all or substantially all its
      assets to, another entity (which will be the Affected Party) where such
      action does not constitute an event described in Section 5(a)(viii);

      (iv) Credit Event Upon Merger. If "Credit Event Upon Merger" is
      specified in the Schedule as applying to the party, such party ("X"),
      any Credit Support Provider of X or any applicable Specified Entity of X
      consolidates or amalgamates with, or merges with or into, or transfers
      all or substantially all its assets to, another entity and such action
      does not constitute an event described in Section 5(a)(viii) but the
      creditworthiness of the resulting, surviving or transferee entity is
      materially weaker than that of X, such Credit Support Provider or such
      Specified Entity, as the case may be, immediately prior to such action
      (and, in such event, X or its successor or transferee, as appropriate,
      will be the Affected Party); or

      (v) Additional Termination Event. If any "Additional Termination Event"
      is specified in the Schedule or any Confirmation as applying, the
      occurrence of such event (and, in such event, the Affected Party or
      Affected Parties shall be as specified for such Additional Termination
      Event in the Schedule or such Confirmation).

(c) Event of Default and Illegality. If an event or circumstance which would
otherwise constitute or give rise to an Event of Default also constitutes an
Illegality, it will be treated as an Illegality and will not constitute an
Event of Default.

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6.    Early Termination

(a) Right to Terminate Following Event of Default. If at any time an Event of
Default with respect to a party (the "Defaulting Party") has occurred and is
then continuing, the other party (the "Non-defaulting Party") may, by not more
than 20 days notice to the Defaulting Party specifying the relevant Event of
Default, designate a day not earlier than the day such notice is effective as
an Early Termination Date in respect of all outstanding Transactions. If,
however, "Automatic Early Termination" is specified in the Schedule as
applying to a party, then an Early Termination Date in respect of all
outstanding Transactions will occur immediately upon the occurrence with
respect to such party of an Event of Default specified in Section
5(a)(vii)(1), (3), (5), (6) or, to the extent analogous thereto, (8), and as
of the time immediately preceding the institution of the relevant proceeding
or the presentation of the relevant petition upon the occurrence with respect
to such party of an Event of Default specified in Section 5(a)(vii)(4) or, to
the extent analogous thereto, (8).

(b) Right to Terminate Following Termination Event.

      (i) Notice. If a Termination Event occurs, an Affected Party will,
      promptly upon becoming aware of it, notify the other party, specifying
      the nature of that Termination Event and each Affected Transaction and
      will also give such other information about that Termination Event as
      the other party may reasonably require.

      (ii) Transfer to Avoid Termination Event. If either an Illegality under
      Section 5(b)(i)(1) or a Tax Event occurs and there is only one Affected
      Party, or if a Tax Event Upon Merger occurs and the Burdened Party is
      the Affected Party, the Affected Party will, as a condition to its right
      to designate an Early Termination Date under Section 6(b)(iv), use all
      reasonable efforts (which will not require such party to incur a loss,
      excluding immaterial, incidental expenses) to transfer within 20 days
      after it gives notice under Section 6(b)(i) all its rights and
      obligations under this Agreement in respect of the Affected Transactions
      to another of its Offices or Affiliates so that such Termination Event
      ceases to exist.

      If the Affected Party is not able to make such a transfer it will give
      notice to the other party to that effect within such 20 day period,
      whereupon the other party may effect such a transfer within 30 days
      after the notice is given under Section 6(b)(i).

      Any such transfer by a party under this Section 6(b)(ii) will be subject
      to and conditional upon the prior written consent of the other party,
      which consent will not be withheld if such other party's policies in
      effect at such time would permit it to enter into transactions with the
      transferee on the terms proposed.

      (iii) Two Affected Parties. If an Illegality under Section 5(b)(i)(1) or
      a Tax Event occurs and there are two Affected Parties, each party will
      use all reasonable efforts to reach agreement within 30 days after
      notice thereof is given under Section 6(b)(i) on action to avoid that
      Termination Event.

      (iv) Right to Terminate. If: --

            (1) a transfer under Section 6(b)(ii) or an agreement under
            Section 6(b)(iii), as the case may be, has not been effected with
            respect to all Affected Transactions within 30 days after an
            Affected Party gives notice under Section 6(b)(i); or

            (2) an Illegality under Section 5(b)(i)(2), a Credit Event Upon
            Merger or an Additional Termination Event occurs, or a Tax Event
            Upon Merger occurs and the Burdened Party is not the Affected
            Party,

      either party in the case of an Illegality, the Burdened Party in the
      case of a Tax Event Upon Merger, any Affected Party in the case of a Tax
      Event or an Additional Termination Event if there is more than one
      Affected Party, or the party which is not the Affected Party in the case
      of a Credit Event Upon Merger or an Additional Termination Event if
      there is only one Affected Party may, by not more than 20 days notice to
      the other party and provided that the relevant Termination Event is then

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      continuing, designate a day not earlier than the day such notice is
      effective as an Early Termination Date in respect of all Affected
      Transactions.

(c)   Effect of Designation.

      (i) If notice designating an Early Termination Date is given under
      Section 6(a) or (b), the Early Termination Date will occur on the date
      so designated, whether or not the relevant Event of Default or
      Termination Event is then continuing.

      (ii) Upon the occurrence or effective designation of an Early
      Termination Date, no further payments or deliveries under Section
      2(a)(i) or 2(e) in respect of the Terminated Transactions will be
      required to be made, but without prejudice to the other provisions of
      this Agreement. The amount, if any, payable in respect of an Early
      Termination Date shall be determined pursuant to Section 6(e).

(d)   Calculations.

      (i) Statement. On or as soon as reasonably practicable following the
      occurrence of an Early Termination Date, each party will make the
      calculations on its part, if any, contemplated by Section 6(e) and will
      provide to the other party a statement (1) showing, in reasonable
      detail, such calculations (including all relevant quotations and
      specifying any amount payable under Section 6(e)) and (2) giving details
      of the relevant account to which any amount payable to it is to be paid.
      In the absence of written confirmation from the source of a quotation
      obtained in determining a Market Quotation, the records of the party
      obtaining such quotation will be conclusive evidence of the existence
      and accuracy of such quotation.

      (ii) Payment Date. An amount calculated as being due in respect of any
      Early Termination Date under Section 6(e) will be payable on the day
      that notice of the amount payable is effective (in the case of an Early
      Termination Date which is designated or occurs as a result of an Event
      of Default) and on the day which is two Local Business Days after the
      day on which notice of the amount payable is effective (in the case of
      an Early Termination Date which is designated as a result of a
      Termination Event). Such amount will be paid together with (to the
      extent permitted under applicable law) interest thereon (before as well
      as after judgment) in the Termination Currency, from (and including) the
      relevant Early Termination Date to (but excluding) the date such amount
      is paid, at the Applicable Rate. Such interest will be calculated on the
      basis of daily compounding and the actual number of days elapsed.

(e) Payments on Early Termination. If an Early Termination Date occurs, the
following provisions shall apply based on the parties' election in the
Schedule of a payment measure, either "Market Quotation" or "Loss", and a
payment method, either the "First Method" or the "Second Method". If the
parties fail to designate a payment measure or payment method in the Schedule,
it will be deemed that "Market Quotation" or the "Second Method", as the case
may be, shall apply. The amount, if any, payable in respect of an Early
Termination Date and determined pursuant to this Section will be subject to
any Set-off.

      (i)   Events of Default. If the Early Termination Date results from an
            Event of Default: --

            (1) First Method and Market Quotation. If the First Method and
            Market Quotation apply, the Defaulting Party will pay to the
            Non-defaulting Party the excess, if a positive number, of (A) the
            sum of the Settlement Amount (determined by the Non-defaulting
            Party) in respect of the Terminated Transactions and the
            Termination Currency Equivalent of the Unpaid Amounts owing to the
            Non-defaulting Party over (B) the Termination Currency Equivalent
            of the Unpaid Amounts owing to the Defaulting Party.

            (2) First Method and Loss. If the First Method and Loss apply, the
            Defaulting Party will pay to the Non-defaulting Party, if a
            positive number, the Non-defaulting Party's Loss in respect of
            this Agreement.

            (3) Second Method and Market Quotation. If the Second Method and
            Market Quotation apply, an amount will be payable equal to (A) the
            sum of the Settlement Amount (determined by the

                                                                    ISDA(R) 1992

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<PAGE>

            Non-defaulting Party) in respect of the Terminated Transactions
            and the Termination Currency Equivalent of the Unpaid Amounts
            owing to the Non-defaulting Party less (B) the Termination
            Currency Equivalent of the Unpaid Amounts owing to the Defaulting
            Party. If that amount is a positive number, the Defaulting Party
            will pay it to the Non-defaulting Party; if it is a negative
            number, the Non-defaulting Party will pay the absolute value of
            that amount to the Defaulting Party.

            (4) Second Method and Loss. If the Second Method and Loss apply,
            an amount will be payable equal to the Non-defaulting Party's Loss
            in respect of this Agreement. If that amount is a positive number,
            the Defaulting Party will pay it to the Non-defaulting Party; if
            it is a negative number, the Non-defaulting Party will pay the
            absolute value of that amount to the Defaulting Party.

      (ii)  Termination Events. If the Early Termination Date results from a
            Termination Event: --

            (1) One Affected Party. If there is one Affected Party, the amount
            payable will be determined in accordance with Section 6(e)(i)(3),
            if Market Quotation applies, or Section 6(e)(i)(4), if Loss
            applies, except that, in either case, references to the Defaulting
            Party and to the Non-defaulting Party will be deemed to be
            references to the Affected Party and the party which is not the
            Affected Party, respectively, and, if Loss applies and fewer than
            all the Transactions are being terminated, Loss shall be
            calculated in respect of all Terminated Transactions.

            (2) Two Affected Parties. If there are two Affected Parties: --

                  (A) if Market Quotation applies, each party will determine a
                  Settlement Amount in respect of the Terminated Transactions,
                  and an amount will be payable equal to (I) the sum of (a)
                  one-half of the difference between the Settlement Amount of
                  the party with the higher Settlement Amount ("X") and the
                  Settlement Amount of the party with the lower Settlement
                  Amount ("Y") and (b) the Termination Currency Equivalent of
                  the Unpaid Amounts owing to X less (II) the Termination
                  Currency Equivalent of the Unpaid Amounts owing to Y; and

                  (B) if Loss applies, each party will determine its Loss in
                  respect of this Agreement (or, if fewer than all the
                  Transactions are being terminated, in respect of all
                  Terminated Transactions) and an amount will be payable equal
                  to one-half of the difference between the Loss of the party
                  with the higher Loss ("X") and the Loss of the party with
                  the lower Loss ("Y").

            If the amount payable is a positive number, Y will pay it to X; if
            it is a negative number, X will pay the absolute value of that
            amount to Y.

(iii) Adjustment for Bankruptcy. In circumstances where an Early Termination
Date occurs because "Automatic Early Termination" applies in respect of a
party, the amount determined under this Section 6(e) will be subject to such
adjustments as are appropriate and permitted by law to reflect any payments or
deliveries made by one party to the other under this Agreement (and retained
by such other party) during the period from the relevant Early Termination
Date to the date for payment determined under Section 6(d)(ii).

(iv) Pre-Estimate. The parties agree that if Market Quotation applies an
amount recoverable under this Section 6(e) is a reasonable pre-estimate of
loss and not a penalty. Such amount is payable for the loss of bargain and the
loss of protection against future risks and except as otherwise provided in
this Agreement neither party will be entitled to recover any additional
damages as a consequence of such losses.

                                                                    ISDA(R) 1992

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<PAGE>

7.    Transfer

Subject to Section 6(b)(ii), neither this Agreement nor any interest or
obligation in or under this Agreement may be transferred (whether by way of
security or otherwise) by either party without the prior written consent of
the other party, except that: --

(a) a party may make such a transfer of this Agreement pursuant to a
consolidation or amalgamation with, or merger with or into, or transfer of all
or substantially all its assets to, another entity (but without prejudice to
any other right or remedy under this Agreement); and

(b) a party may make such a transfer of all or any part of its interest in any
amount payable to it from a Defaulting Party under Section 6(e).

Any purported transfer that is not in compliance with this Section will be
void.

8.    Contractual Currency

(a) Payment in the Contractual Currency. Each payment under this Agreement
will be made in the relevant currency specified in this Agreement for that
payment (the "Contractual Currency"). To the extent permitted by applicable
law, any obligation to make payments under this Agreement in the Contractual
Currency will not be discharged or satisfied by any tender in any currency
other than the Contractual Currency, except to the extent such tender results
in the actual receipt by the party to which payment is owed, acting in a
reasonable manner and in good faith in converting the currency so tendered
into the Contractual Currency, of the full amount in the Contractual Currency
of all amounts payable in respect of this Agreement. If for any reason the
amount in the Contractual Currency so received falls short of the amount in
the Contractual Currency payable in respect of this Agreement, the party
required to make the payment will, to the extent permitted by applicable law,
immediately pay such additional amount in the Contractual Currency as may be
necessary to compensate for the shortfall. If for any reason the amount in the
Contractual Currency so received exceeds the amount in the Contractual
Currency payable in respect of this Agreement, the party receiving the payment
will refund promptly the amount of such excess.

(b) Judgments. To the extent permitted by applicable law, if any judgment or
order expressed in a currency other than the Contractual Currency is rendered
(i) for the payment of any amount owing in respect of this Agreement, (ii) for
the payment of any amount relating to any early termination in respect of this
Agreement or (iii) in respect of a judgment or order of another court for the
payment of any amount described in (i) or (ii) above, the party seeking
recovery, after recovery in full of the aggregate amount to which such party
is entitled pursuant to the judgment or order, will be entitled to receive
immediately from the other party the amount of any shortfall of the
Contractual Currency received by such party as a consequence of sums paid in
such other currency and will refund promptly to the other party any excess of
the Contractual Currency received by such party as a consequence of sums paid
in such other currency if such shortfall or such excess arises or results from
any variation between the rate of exchange at which the Contractual Currency
is converted into the currency of the judgment or order for the purposes of
such judgment or order and the rate of exchange at which such party is able,
acting in a reasonable manner and in good faith in converting the currency
received into the Contractual Currency, to purchase the Contractual Currency
with the amount of the currency of the judgment or order actually received by
such party. The term "rate of exchange" includes, without limitation, any
premiums and costs of exchange payable in connection with the purchase of or
conversion into the Contractual Currency.

(c) Separate Indemnities. To the extent permitted by applicable law, these
indemnities constitute separate and independent obligations from the other
obligations in this Agreement, will be enforceable as separate and independent
causes of action, will apply notwithstanding any indulgence granted by the
party to which any payment is owed and will not be affected by judgment being
obtained or claim or proof being made for any other sums payable in respect of
this Agreement.

(d) Evidence of Loss. For the purpose of this Section 8, it will be sufficient
for a party to demonstrate that it would have suffered a loss had an actual
exchange or purchase been made.

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<PAGE>

9.    Miscellaneous

(a) Entire Agreement. This Agreement constitutes the entire agreement and
understanding of the parties with respect to its subject matter and supersedes
all oral communication and prior writings with respect thereto.

(b) Amendments. No amendment, modification or waiver in respect of this
Agreement will be effective unless in writing (including a writing evidenced
by a facsimile transmission) and executed by each of the parties or confirmed
by an exchange of telexes or electronic messages on an electronic messaging
system.

(c) Survival of Obligations. Without prejudice to Sections 2(a)(iii) and
6(c)(ii), the obligations of the parties under this Agreement will survive the
termination of any Transaction.

(d) Remedies Cumulative. Except as provided in this Agreement, the rights,
powers, remedies and privileges provided in this Agreement are cumulative and
not exclusive of any rights, powers, remedies and privileges provided by law.

(e) Counterparts and Confirmations.

      (i) This Agreement (and each amendment, modification and waiver in
      respect of it) may be executed and delivered in counterparts (including
      by facsimile transmission), each of which will be deemed an original.

      (ii) The parties intend that they are legally bound by the terms of each
      Transaction from the moment they agree to those terms (whether orally or
      otherwise). A Confirmation shall be entered into as soon as practicable
      and may be executed and delivered in counterparts (including by
      facsimile transmission) or be created by an exchange of telexes or by an
      exchange of electronic messages on an electronic messaging system, which
      in each case will be sufficient for all purposes to evidence a binding
      supplement to this Agreement. The parties will specify therein or
      through another effective means that any such counterpart, telex or
      electronic message constitutes a Confirmation.

(f) No Waiver of Rights. A failure or delay in exercising any right, power or
privilege in respect of this Agreement will not be presumed to operate as a
waiver, and a single or partial exercise of any right, power or privilege will
not be presumed to preclude any subsequent or further exercise, of that right,
power or privilege or the exercise of any other right, power or privilege.

(g) Headings. The headings used in this Agreement are for convenience of
reference only and are not to affect the construction of or to be taken into
consideration in interpreting this Agreement.

10.   Offices; Multibranch Parties

(a) If Section 10(a) is specified in the Schedule as applying, each party that
enters into a Transaction through an Office other than its head or home office
represents to the other party that, notwithstanding the place of booking
office or jurisdiction of incorporation or organisation of such party, the
obligations of such party are the same as if it had entered into the
Transaction through its head or home office. This representation will be
deemed to be repeated by such party on each date on which a Transaction is
entered into.

(b) Neither party may change the Office through which it makes and receives
payments or deliveries for the purpose of a Transaction without the prior
written consent of the other party.

(c) If a party is specified as a Multibranch Party in the Schedule, such
Multibranch Party may make and receive payments or deliveries under any
Transaction through any Office listed in the Schedule, and the Office through
which it makes and receives payments or deliveries with respect to a
Transaction will be specified in the relevant Confirmation.

11.   Expenses

A Defaulting Party will, on demand, indemnify and hold harmless the other
party for and against all reasonable out-of-pocket expenses, including legal
fees and Stamp Tax, incurred by such other party by reason of the enforcement
and protection of its rights under this Agreement or any Credit Support
Document

                                                                    ISDA(R) 1992

                                      12
<PAGE>

to which the Defaulting Party is a party or by reason of the early termination
of any Transaction, including, but not limited to, costs of collection.

12.   Notices

(a) Effectiveness. Any notice or other communication in respect of this
Agreement may be given in any manner set forth below (except that a notice or
other communication under Section 5 or 6 may not be given by facsimile
transmission or electronic messaging system) to the address or number or in
accordance with the electronic messaging system details provided (see the
Schedule) and will be deemed effective as indicated: --

      (i) if in writing and delivered in person or by courier, on the date it
      is delivered;

      (ii) if sent by telex, on the date the recipient's answerback is
      received;

      (iii) if sent by facsimile transmission, on the date that transmission
      is received by a responsible employee of the recipient in legible form
      (it being agreed that the burden of proving receipt will be on the
      sender and will not be met by a transmission report generated by the
      sender's facsimile machine);

      (iv) if sent by certified or registered mail (airmail, if overseas) or
      the equivalent (return receipt requested), on the date that mail is
      delivered or its delivery is attempted; or

      (v) if sent by electronic messaging system, on the date that electronic
      message is received,

unless the date of that delivery (or attempted delivery) or that receipt, as
applicable, is not a Local Business Day or that communication is delivered (or
attempted) or received, as applicable, after the close of business on a Local
Business Day, in which case that communication shall be deemed given and
effective on the first following day that is a Local Business Day.

(b) Change of Addresses. Either party may by notice to the other change the
address, telex or facsimile number or electronic messaging system details at
which notices or other communications are to be given to it.

13.   Governing Law and Jurisdiction

(a) Governing Law. This Agreement will be governed by and construed in
accordance with the law specified in the Schedule.

(b) Jurisdiction. With respect to any suit, action or proceedings relating to
this Agreement ("Proceedings"), each party irrevocably: --

      (i) submits to the jurisdiction of the English courts, if this Agreement
      is expressed to be governed by English law, or to the non-exclusive
      jurisdiction of the courts of the State of New York and the United
      States District Court located in the Borough of Manhattan in New York
      City, if this Agreement is expressed to be governed by the laws of the
      State of New York; and

      (ii) waives any objection which it may have at any time to the laying of
      venue of any Proceedings brought in any such court, waives any claim
      that such Proceedings have been brought in an inconvenient forum and
      further waives the right to object, with respect to such Proceedings,
      that such court does not have any jurisdiction over such party.

Nothing in this Agreement precludes either party from bringing Proceedings in
any other jurisdiction (outside, if this Agreement is expressed to be governed
by English law, the Contracting States, as defined in Section 1(3) of the
Civil Jurisdiction and Judgments Act 1982 or any modification, extension or
re-enactment thereof for the time being in force) nor will the bringing of
Proceedings in any one or more jurisdictions preclude the bringing of
Proceedings in any other jurisdiction.

(c) Service of Process. Each party irrevocably appoints the Process Agent (if
any) specified opposite its name in the Schedule to receive, for it and on its
behalf, service of process in any Proceedings. If for any

                                                                    ISDA(R) 1992

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<PAGE>

reason any party's Process Agent is unable to act as such, such party will
promptly notify the other party and within 30 days appoint a substitute
process agent acceptable to the other party. The parties irrevocably consent
to service of process given in the manner provided for notices in Section 12.
Nothing in this Agreement will affect the right of either party to serve
process in any other manner permitted by law.

(d) Waiver of Immunities. Each party irrevocably waives, to the fullest extent
permitted by applicable law, with respect to itself and its revenues and
assets (irrespective of their use or intended use), all immunity on the
grounds of sovereignty or other similar grounds from (i) suit, (ii)
jurisdiction of any court, (iii) relief by way of injunction, order for
specific performance or for recovery of property, (iv) attachment of its
assets (whether before or after judgment) and (v) execution or enforcement of
any judgment to which it or its revenues or assets might otherwise be entitled
in any Proceedings in the courts of any jurisdiction and irrevocably agrees,
to the extent permitted by applicable law, that it will not claim any such
immunity in any Proceedings.

14.   Definitions

As used in this Agreement: --

"Additional Termination Event" has the meaning specified in Section 5(b).

"Affected Party" has the meaning specified in Section 5(b).

"Affected Transactions" means (a) with respect to any Termination Event
consisting of an Illegality, Tax Event or Tax Event Upon Merger, all
Transactions affected by the occurrence of such Termination Event and (b) with
respect to any other Termination Event, all Transactions.

"Affiliate" means, subject to the Schedule, in relation to any person, any
entity controlled, directly or indirectly, by the person, any entity that
controls, directly or indirectly, the person or any entity directly or
indirectly under common control with the person. For this purpose, "control"
of any entity or person means ownership of a majority of the voting power of
the entity or person.

"Applicable Rate" means: --

(a) in respect of obligations payable or deliverable (or which would have been
but for Section 2(a)(iii)) by a Defaulting Party, the Default Rate;

(b) in respect of an obligation to pay an amount under Section 6(e) of either
party from and after the date (determined in accordance with Section 6(d)(ii))
on which that amount is payable, the Default Rate;

(c) in respect of all other obligations payable or deliverable (or which would
have been but for Section 2(a)(iii)) by a Non-defaulting Party, the
Non-default Rate; and

(d) in all other cases, the Termination Rate.

"Burdened Party" has the meaning specified in Section 5(b).

"Change in Tax Law" means the enactment, promulgation, execution or
ratification of, or any change in or amendment to, any law (or in the
application or official interpretation of any law) that occurs on or after the
date on which the relevant Transaction is entered into.

"consent" includes a consent, approval, action, authorisation, exemption,
notice, filing, registration or exchange control consent.

"Credit Event Upon Merger" has the meaning specified in Section 5(b).

"Credit Support Document" means any agreement or instrument that is specified
as such in this Agreement.

"Credit Support Provider" has the meaning specified in the Schedule.

"Default Rate" means a rate per annum equal to the cost (without proof or
evidence of any actual cost) to the relevant payee (as certified by it) if it
were to fund or of funding the relevant amount plus 1% per annum.

                                                                    ISDA(R) 1992

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<PAGE>

"Defaulting Party" has the meaning specified in Section 6(a).

"Early Termination Date" means the date determined in accordance with Section
6(a) or 6(b)(iv).

"Event of Default" has the meaning specified in Section 5(a) and, if
applicable, in the Schedule.

"Illegality" has the meaning specified in Section 5(b).

"Indemnifiable Tax" means any Tax other than a Tax that would not be imposed
in respect of a payment under this Agreement but for a present or former
connection between the jurisdiction of the government or taxation authority
imposing such Tax and the recipient of such payment or a person related to
such recipient (including, without limitation, a connection arising from such
recipient or related person being or having been a citizen or resident of such
jurisdiction, or being or having been organised, present or engaged in a trade
or business in such jurisdiction, or having or having had a permanent
establishment or fixed place of business in such jurisdiction, but excluding a
connection arising solely from such recipient or related person having
executed, delivered, performed its obligations or received a payment under, or
enforced, this Agreement or a Credit Support Document).

"law" includes any treaty, law, rule or regulation (as modified, in the case
of tax matters, by the practice of any relevant governmental revenue
authority) and "lawful" and "unlawful" will be construed accordingly.

"Local Business Day" means, subject to the Schedule, a day on which commercial
banks are open for business (including dealings in foreign exchange and
foreign currency deposits) (a) in relation to any obligation under Section
2(a)(i), in the place(s) specified in the relevant Confirmation or, if not so
specified, as otherwise agreed by the parties in writing or determined
pursuant to provisions contained, or incorporated by reference, in this
Agreement, (b) in relation to any other payment, in the place where the
relevant account is located and, if different, in the principal financial
centre, if any, of the currency of such payment, (c) in relation to any notice
or other communication, including notice contemplated under Section 5(a)(i),
in the city specified in the address for notice provided by the recipient and,
in the case of a notice contemplated by Section 2(b), in the place where the
relevant new account is to be located and (d) in relation to Section
5(a)(v)(2), in the relevant locations for performance with respect to such
Specified Transaction.

"Loss" means, with respect to this Agreement or one or more Terminated
Transactions, as the case may be, and a party, the Termination Currency
Equivalent of an amount that party reasonably determines in good faith to be
its total losses and costs (or gain, in which case expressed as a negative
number) in connection with this Agreement or that Terminated Transaction or
group of Terminated Transactions, as the case may be, including any loss of
bargain, cost of funding or, at the election of such party but without
duplication, loss or cost incurred as a result of its terminating,
liquidating, obtaining or reestablishing any hedge or related trading position
(or any gain resulting from any of them). Loss includes losses and costs (or
gains) in respect of any payment or delivery required to have been made
(assuming satisfaction of each applicable condition precedent) on or before
the relevant Early Termination Date and not made, except, so as to avoid
duplication, if Section 6(e)(i)(1) or (3) or 6(e)(ii)(2)(A) applies. Loss does
not include a party's legal fees and out-of-pocket expenses referred to under
Section 11. A party will determine its Loss as of the relevant Early
Termination Date, or, if that is not reasonably practicable, as of the
earliest date thereafter as is reasonably practicable. A party may (but need
not) determine its Loss by reference to quotations of relevant rates or prices
from one or more leading dealers in the relevant markets.

"Market Quotation" means, with respect to one or more Terminated Transactions
and a party making the determination, an amount determined on the basis of
quotations from Reference Market-makers. Each quotation will be for an amount,
if any, that would be paid to such party (expressed as a negative number) or
by such party (expressed as a positive number) in consideration of an
agreement between such party (taking into account any existing Credit Support
Document with respect to the obligations of such party) and the quoting
Reference Market-maker to enter into a transaction (the "Replacement
Transaction") that would have the effect of preserving for such party the
economic equivalent of any payment or delivery (whether the underlying
obligation was absolute or contingent and assuming the satisfaction of each
applicable condition precedent) by the parties under Section 2(a)(i) in
respect of such Terminated Transaction or group of Terminated Transactions
that would, but for the occurrence of the relevant Early Termination Date,
have

                                                                    ISDA(R) 1992

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<PAGE>

been required after that date. For this purpose, Unpaid Amounts in respect of
the Terminated Transaction or group of Terminated Transactions are to be
excluded but, without limitation, any payment or delivery that would, but for
the relevant Early Termination Date, have been required (assuming satisfaction
of each applicable condition precedent) after that Early Termination Date is
to be included. The Replacement Transaction would be subject to such
documentation as such party and the Reference Market-maker may, in good faith,
agree. The party making the determination (or its agent) will request each
Reference Market-maker to provide its quotation to the extent reasonably
practicable as of the same day and time (without regard to different time
zones) on or as soon as reasonably practicable after the relevant Early
Termination Date. The day and time as of which those quotations are to be
obtained will be selected in good faith by the party obliged to make a
determination under Section 6(e), and, if each party is so obliged, after
consultation with the other. If more than three quotations are provided, the
Market Quotation will be the arithmetic mean of the quotations, without regard
to the quotations having the highest and lowest values. If exactly three such
quotations are provided, the Market Quotation will be the quotation remaining
after disregarding the highest and lowest quotations. For this purpose, if
more than one quotation has the same highest value or lowest value, then one
of such quotations shall be disregarded. If fewer than three quotations are
provided, it will be deemed that the Market Quotation in respect of such
Terminated Transaction or group of Terminated Transactions cannot be
determined.

"Non-default Rate" means a rate per annum equal to the cost (without proof or
evidence of any actual cost) to the Non-defaulting Party (as certified by it)
if it were to fund the relevant amount.

"Non-defaulting Party" has the meaning specified in Section 6(a).

"Office" means a branch or office of a party, which may be such party's head
or home office.

"Potential Event of Default" means any event which, with the giving of notice
or the lapse of time or both, would constitute an Event of Default.

"Reference Market-makers" means four leading dealers in the relevant market
selected by the party determining a Market Quotation in good faith (a) from
among dealers of the highest credit standing which satisfy all the criteria
that such party applies generally at the time in deciding whether to offer or
to make an extension of credit and (b) to the extent practicable, from among
such dealers having an office in the same city.

"Relevant Jurisdiction" means, with respect to a party, the jurisdictions (a)
in which the party is incorporated, organised, managed and controlled or
considered to have its seat, (b) where an Office through which the party is
acting for purposes of this Agreement is located, (c) in which the party
executes this Agreement and (d) in relation to any payment, from or through
which such payment is made.

"Scheduled Payment Date" means a date on which a payment or delivery is to be
made under Section 2(a)(i) with respect to a Transaction.

"Set-off" means set-off, offset, combination of accounts, right of retention
or withholding or similar right or requirement to which the payer of an amount
under Section 6 is entitled or subject (whether arising under this Agreement,
another contract, applicable law or otherwise) that is exercised by, or
imposed on, such payer.

"Settlement Amount" means, with respect to a party and any Early Termination
Date, the sum of: --

(a) the Termination Currency Equivalent of the Market Quotations (whether
positive or negative) for each Terminated Transaction or group of Terminated
Transactions for which a Market Quotation is determined; and

(b) such party's Loss (whether positive or negative and without reference to
any Unpaid Amounts) for each Terminated Transaction or group of Terminated
Transactions for which a Market Quotation cannot be determined or would not
(in the reasonable belief of the party making the determination) produce a
commercially reasonable result.

"Specified Entity" has the meaning specified in the Schedule.

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<PAGE>

"Specified Indebtedness" means, subject to the Schedule, any obligation
(whether present or future, contingent or otherwise, as principal or surety or
otherwise) in respect of borrowed money.

"Specified Transaction" means, subject to the Schedule, (a) any transaction
(including an agreement with respect thereto) now existing or hereafter
entered into between one party to this Agreement (or any Credit Support
Provider of such party or any applicable Specified Entity of such party) and
the other party to this Agreement (or any Credit Support Provider of such
other party or any applicable Specified Entity of such other party) which is a
rate swap transaction, basis swap, forward rate transaction, commodity swap,
commodity option, equity or equity index swap, equity or equity index option,
bond option, interest rate option, foreign exchange transaction, cap
transaction, floor transaction, collar transaction, currency swap transaction,
cross-currency rate swap transaction, currency option or any other similar
transaction (including any option with respect to any of these transactions),
(b) any combination of these transactions and (c) any other transaction
identified as a Specified Transaction in this Agreement or the relevant
confirmation.

"Stamp Tax" means any stamp, registration, documentation or similar tax.

"Tax" means any present or future tax, levy, impost, duty, charge, assessment
or fee of any nature (including interest, penalties and additions thereto)
that is imposed by any government or other taxing authority in respect of any
payment under this Agreement other than a stamp, registration, documentation
or similar tax.

"Tax Event" has the meaning specified in Section 5(b).

"Tax Event Upon Merger" has the meaning specified in Section 5(b).

"Terminated Transactions" means with respect to any Early Termination Date (a)
if resulting from a Termination Event, all Affected Transactions and (b) if
resulting from an Event of Default, all Transactions (in either case) in
effect immediately before the effectiveness of the notice designating that
Early Termination Date (or, if "Automatic Early Termination" applies,
immediately before that Early Termination Date).

"Termination Currency" has the meaning specified in the Schedule.

"Termination Currency Equivalent" means, in respect of any amount denominated
in the Termination Currency, such Termination Currency amount and, in respect
of any amount denominated in a currency other than the Termination Currency
(the "Other Currency"), the amount in the Termination Currency determined by
the party making the relevant determination as being required to purchase such
amount of such Other Currency as at the relevant Early Termination Date, or,
if the relevant Market Quotation or Loss (as the case may be), is determined
as of a later date, that later date, with the Termination Currency at the rate
equal to the spot exchange rate of the foreign exchange agent (selected as
provided below) for the purchase of such Other Currency with the Termination
Currency at or about 11:00 a.m. (in the city in which such foreign exchange
agent is located) on such date as would be customary for the determination of
such a rate for the purchase of such Other Currency for value on the relevant
Early Termination Date or that later date. The foreign exchange agent will, if
only one party is obliged to make a determination under Section 6(e), be
selected in good faith by that party and otherwise will be agreed by the
parties.

"Termination Event" means an Illegality, a Tax Event or a Tax Event Upon
Merger or, if specified to be applicable, a Credit Event Upon Merger or an
Additional Termination Event.

"Termination Rate" means a rate per annum equal to the arithmetic mean of the
cost (without proof or evidence of any actual cost) to each party (as
certified by such party) if it were to fund or of funding such amounts.

"Unpaid Amounts" owing to any party means, with respect to an Early
Termination Date, the aggregate of (a) in respect of all Terminated
Transactions, the amounts that became payable (or that would have become
payable but for Section 2(a)(iii)) to such party under Section 2(a)(i) on or
prior to such Early Termination Date and which remain unpaid as at such Early
Termination Date and (b) in respect of each Terminated Transaction, for each
obligation under Section 2(a)(i) which was (or would have been but for Section
2(a)(iii)) required to be settled by delivery to such party on or prior to
such Early Termination Date and which has not been so settled as at such Early
Termination Date, an amount equal to the fair market

                                                                    ISDA(R) 1992

                                      17
<PAGE>

value of that which was (or would have been) required to be delivered as of
the originally scheduled date for delivery, in each case together with (to the
extent permitted under applicable law) interest, in the currency of such
amounts, from (and including) the date such amounts or obligations were or
would have been required to have been paid or performed to (but excluding)
such Early Termination Date, at the Applicable Rate. Such amounts of interest
will be calculated on the basis of daily compounding and the actual number of
days elapsed. The fair market value of any obligation referred to in clause
(b) above shall be reasonably determined by the party obliged to make the
determination under Section 6(e) or, if each party is so obliged, it shall be
the average of the Termination Currency Equivalents of the fair market values
reasonably determined by both parties.

IN WITNESS WHEREOF the parties have executed this document on the respective
dates specified below with effect from the date specified on the first page of
this document.

WACHOVIA BANK, NATIONAL ASSOCIATION       STRATS(SM) TRUST FOR ALLSTATE
                                          CORPORATION SECURITIES, SERIES 2006-3

                                          By: The Bank of New York, as Trustee

By: /s/ Jeremy Swinson                    By: /s/ Kevin Pennant
   ---------------------------------         ----------------------------------
   Name:  Jeremy Swinson                     Name:  Kevin Pennant
   Title: Vice President                     Title: Assistant Vice President
   Date:  April 27, 2006                     Date:  April 28, 2006

                                                                    ISDA(R) 1992

                                      18
<PAGE>

                                                                Execution Copy

                                   SCHEDULE
                                    to the
                               MASTER AGREEMENT
                      dated as of April 28, 2006 between
                WACHOVIA BANK, NATIONAL ASSOCIATION ("Party A")
                                      and
             STRATS(SM) TRUST FOR ALLSTATE CORPORATION SECURITIES,
                           SERIES 2006-3 ("Party B")

Part 1. Termination Provisions

(a)   "Specified Entity" means, with respect to Party A for all purposes of
      this Agreement, none specified, and with respect to Party B for all
      purposes of this Agreement, none specified.

(b)   "Specified Transaction" has its meaning as defined in Section 14 of this
      Agreement.

(c)   "Cross Default" does not apply to Party A or Party B.

(d)   "Credit Event Upon Merger" does not apply to Party A or Party B.

(e)   "Automatic Early Termination" does not apply to Party A or Party B.

(f)   Payments on Early Termination. Except as otherwise provided in this
      Schedule, "Market Quotation" and the "Second Method" apply. In the case
      of any Terminated Transaction that is, or is subject to, any unexercised
      option, the words "economic equivalent of any payment or delivery"
      appearing in the definition of "Market Quotation" shall be construed to
      take into account the economic equivalent of the option. Additionally,
      in the event an Early Termination Date is designated by Party B in
      connection with an Event of Default or Termination Event with respect to
      which Party A is the Defaulting Party or sole Affected Party, then in no
      event shall any amount be payable under Section 6(e) of the Agreement by
      either Party A or Party B.

(g)   "Termination Currency" means United States Dollars.

(h)   Limitation on Defaults. The Events of Default specified in Section 5 of
      this Agreement shall not apply to Party A or Party B except for the
      following:

      (i)   Section 5(a)(i) of this Agreement (Failure to Pay or Deliver).

      (ii)  Section 5(a)(vii) of this Agreement (Bankruptcy), provided that,
            the failure to make any payment of interest on or principal of the
            Certificates which does not give rise to an event of default
            pursuant to the terms of the Trust Agreement shall not be deemed
            to constitute a Bankruptcy within the meaning of clause (2)
            thereof with respect to Party B; and

      (iii) Section 5(a)(viii) of this Agreement (Merger Without Assumption).

<PAGE>

(i)   Additional Termination Events.

      (i)   The occurrence of any of the following events shall be an
            Additional Termination Event:

            (A)   The failure of Party A to comply with the following:

                  (i)   Upon the occurrence of an S&P Required Rating
                        Downgrade Event (as defined below), Party A shall make
                        a Permitted Transfer in accordance with the provisions
                        of Part 6(a)(ii) of this Schedule within seven (7)
                        Business Days of such S&P Required Rating Downgrade
                        Event, provided, however, that termination due to any
                        such S&P Required Rating Downgrade Event shall not be
                        permitted if S&P confirms in writing that it will not
                        downgrade, reduce, suspend or withdraw S&P's
                        then-current rating on the Certificates if this
                        Agreement remains in full force and effect with
                        respect to each Transaction hereunder. Party A shall
                        notify Party B within one (1) Business Day of the
                        occurrence of a S&P Required Rating Downgrade Event.
                        Such Permitted Transfer by Party A shall have the
                        effect that no Additional Termination Event under this
                        Part 1(i)(i)(A)(i) shall exist with respect to the
                        Affected Transactions; or

                  (ii)  Upon the occurrence of a Collateral Rating Downgrade
                        Event (as defined below), Party A shall, on or before
                        the Credit Support Commencement Date, either (i) amend
                        the Credit Support Annex with Party B and obtain S&P's
                        confirmation in writing that such amended Credit
                        Support Annex will not cause the reduction or
                        withdrawal of its then current rating of any
                        outstanding class of Certificates under the Trust
                        Agreement with respect to which it has previously
                        issued a rating and Party A shall transfer to Party
                        B's Custodian under such amended Credit Support Annex
                        an amount of Eligible Collateral equal to the Delivery
                        Amount required to be transferred with respect to the
                        Affected Transactions in accordance with such amended
                        Credit Support Annex, (ii) make a Permitted Transfer
                        with respect to the Affected Transactions or (iii)
                        provide Alternative Credit Support (as defined below)
                        with respect to the Affected Transactions. Party A
                        shall notify Party B within five (5) Business Days of
                        the occurrence of a Collateral Rating Downgrade Event.
                        Such posting of collateral pursuant to an amended
                        Credit Support Annex, the provision of Alternative
                        Credit Support or such Permitted Transfer by Party A,
                        shall have the effect that no Additional Termination
                        Event under this Part 1(i)(i)(A)(ii) shall exist with
                        respect to the Affected Transactions;

            (B)   The Certificates become due and payable prior to their final
                  scheduled maturity date for any reason;

                                     -2-
<PAGE>

            (C)   Party B fails to comply with sub-paragraph (e)(i) of Part 6
                  of this Schedule; any prepayment, redemption, retirement,
                  liquidation or distribution of the Underlying Securities
                  (including as a result of a Payment Default, an Acceleration
                  or an SEC Reporting Failure (as such terms are defined in
                  the Trust Agreement)) or other prepayment in full of all
                  Certificates outstanding occurs under the Trust Agreement
                  (or any notice is given to that effect and such prepayment,
                  redemption, retirement, liquidation or distribution of the
                  Underlying Securities is not capable of being rescinded);
                  any Trust Termination Event (as defined in the Trust
                  Agreement) occurs under the Trust Agreement (or any notice
                  is given by the Trustee or any other party authorized by the
                  terms of the Trust Agreement of by law) and the Trustee, the
                  Certificateholders or any other authorized party thereunder
                  takes any action or exercises any rights or remedies under
                  the Trust Agreement or under law that would result in (1)
                  the appropriation of all right, title and interest in and to
                  the assets under the Trust Agreement in satisfaction, in
                  whole or in part, of the obligations secured thereby, (2)
                  the sale, liquidation or disposition of the assets under the
                  Trust Agreement and the application of the proceeds thereof,
                  in whole or in part, to the obligations secured thereby, or
                  (3) the release of the security interest in the assets
                  granted under the Trust Agreement in exchange for receiving
                  either the payment, in whole or in part, of the obligations
                  secured thereby or substitute collateral or credit support;

            (D)   Party B fails to comply with sub-paragraph (j)(i) of Part 1
                  of this Schedule to the extent of the applicable Affected
                  Notional Amount as described in that paragraph; or

            (E)   On any Distribution Date, the significance percentage
                  represented by the Transactions under this Agreement is 10%
                  or more and Party A fails to: (x) post Collateral to secure
                  its obligations hereunder in accordance with the terms of
                  the Credit Support Annex in an amount sufficient to reduce
                  the significance percentage to 7% or less; (y) provide
                  financial information and all necessary consents meeting the
                  applicable requirements of Item 1115(b) of Regulation AB; or
                  (z) transfer this Agreement in accordance with Part 6(a)
                  hereof to another swap provider that provides, as to itself,
                  the financial information and consents described in clause
                  (y) and that is otherwise acceptable to Party B, the
                  Depositor and Trustee and as to which S&P has given its
                  prior written confirmation that such transfer will not
                  result in a reduction or withdrawal of the then current
                  rating of the Certificates.

      (ii)  For purposes of the right to terminate under Section 6(b)(iv),
            Party A will be the sole Affected Party for any Additional
            Termination Event described in clause (A)(i), clause (A)(ii) and
            clause (E) of sub-paragraph (i) above, and Party B will be the
            sole Affected Party for any other Additional Termination Event.

      (iii) Notwithstanding which party is the Affected Party for any
            Additional Termination Event, upon the occurrence of an Early
            Termination Date for any Additional

                                     -3-
<PAGE>

            Termination Event under this Part 1(i), Party A shall make the
            calculations under Section 6(e) of this Agreement as though it
            were the non-Affected Party for purposes of Section 6(e)(ii)(1) of
            this Agreement.

      (iv)  "Hedge Counterparty Required Rating" means, as applicable, at any
            time that any Certificates are outstanding under the Trust
            Agreement and have a long-term rating of at least A by S&P, BBB-;
            provided that should S&P effect an overall downward adjustment of
            its approach to assigning short-term or long-term debt ratings,
            then the applicable Hedge Counterparty Required Rating shall be
            downwardly adjusted accordingly so long as the Rating Agency
            Condition (as defined herein) is satisfied.

      (v)   "Hedge Counterparty Collateral Threshold Rating" means, so long as
            any Certificates are outstanding under the Trust Agreement and are
            rated by S&P, the applicable "Party A Long-Term Collateral
            Threshold Rating" as set forth in the following table and
            determined based upon the applicable "Actual Certificate Rating"
            and the applicable "Party A Short-Term Collateral Threshold
            Rating":

            --------------------------------------------------------------------
                                     Party A Short-Term     Party A Long-Term
             Actual Certificate     Collateral Threshold   Collateral Threshold
                  Rating(1)               Rating(2)              Rating(3)
            --------------------------------------------------------------------
            AA- or above          A-1                     A
            --------------------------------------------------------------------
            AA- or above          Unrated                 A+
            --------------------------------------------------------------------
            A+                    A-2 or unrated          A-
            --------------------------------------------------------------------
            A                     A-2 or unrated          A-
            --------------------------------------------------------------------
            A- or below           Not applicable          Same rating as the
                                                          Actual Certificate
                                                          Rating
            --------------------------------------------------------------------

            provided that should S&P effect an overall downward adjustment of
            its approach to assigning short-term or long-term debt ratings,
            then the applicable Hedge Counterparty Collateral Threshold Rating
            shall be downwardly adjusted accordingly; so long as the Rating
            Agency Condition is satisfied.

      (vi)  "S&P Required Rating Downgrade Event" means, for the purposes of
            Part 1(i)(i)(A)(i), the unsecured and unsubordinated debt
            obligations of Party A, or its Credit Support Provider, as
            applicable, are withdrawn or assigned a rating by S&P below the
            Hedge Counterparty Required Rating.

-----------------

(1)   For purposes hereof, the term "Actual Certificate Rating" means the
      actual long-term rating assigned by S&P with respect to the Certificates
      outstanding under the Trust Agreement, and in the event S&P has assigned
      more than one long-term rating with respect to the Certificates, then
      the Actual Certificate Rating shall be the highest of such long-term
      ratings.

(2)   For purposes hereof, the term "Party A Short-Term Collateral Threshold
      Rating shall mean the rating assigned by S&P with respect to the
      short-term debt of Party A, if any.

(3)   For purposes hereof, the term "Party A Long-Term Collateral Threshold
      Rating shall mean the rating assigned by S&P with respect to the
      long-term debt of Party A.

                                     -4-
<PAGE>

      (vii) "Collateral Rating Downgrade Event" means, for the purposes of
            Part 1(i)(i)(A)(ii), the unsecured and unsubordinated debt
            obligations of Party A or its Credit Support Provider, as
            applicable, are assigned a rating by S&P below the Hedge
            Counterparty Collateral Threshold Rating.

      (viii) "Alternative Credit Support" means an absolute and unconditional
            guarantee, credit intermediation arrangement, letter of credit or
            other additional credit support or collateral, in a form which
            meets S&P's then current criteria with respect to such types of
            credit support reasonably acceptable to S&P and for which S&P
            confirms in writing that such support will not cause the reduction
            or withdrawal of its then current rating of any outstanding class
            of Certificates under the Trust Agreement with respect to which it
            has previously issued a rating.

      (ix)  "S&P" means, Standard & Poor's Ratings Services, a division of The
            McGraw-Hill Companies ("S&P") (so long as any Certificates deemed
            outstanding under the Trust Agreement are rated by S&P).

(j)   Mandatory Reduction Events. To protect Party A's interest in the Trust
      Agreement as a source of payment for Party B's obligations hereunder,
      including the priority of those payments under the Trust Agreement, the
      following provisions shall apply with respect to all Transactions
      hereunder:

      (i)   If as the result of any payment, repayment, retirement or
            redemption of any amount of the Principal Balance under the Trust
            Agreement on any date (a "Principal Payment Date"), (A) the
            Principal Balance would be reduced to zero, or (B) the Hedge
            Notional Amount would exceed the remaining Principal Balance
            (after giving effect to that repayment), (the "Mandatory Reduction
            Event"), then not later than 1:00 p.m. (New York City time) on the
            date ("Mandatory Reduction Date") which is the second New York
            Business Day prior to that Principal Payment Date, then Party B
            shall:

            (1)   notify Party A of the Mandatory Reduction Event, including
                  the amount to be repaid and the outstanding Hedge Notional
                  Amount; and

            (2)   specify in that notice each outstanding Transaction
                  hereunder and the corresponding amount by which the
                  Transactional Notional Amount of that Transaction is to be
                  reduced for the Mandatory Reduction Event ("Affected
                  Notional Amount") so that the Hedge Notional Amount for any
                  date (after giving effect to all such reductions) would not
                  exceed the Principal Balance for that date (after giving
                  effect to any repayment) (except that if the Principal
                  Balance is reduced to zero, the Hedge Notional Amount shall
                  be reduced to zero).

      "Hedge Notional Amount" means, as of the date of determination, an
      amount equal to the aggregate Notional Amount outstanding on that date
      and for the then current Calculation

                                     -5-
<PAGE>

      Period of all Transactions outstanding under any Swap Agreement (as
      defined in the Trust Agreement) then in effect.

      "Principal Balance" means, on any date, the aggregate principal amount
      of the Certificates, outstanding under the Trust Agreement on that date,
      after giving effect to all repayments, redemptions, advances or
      distributions of principal thereon on that date.

      (ii)  For each Transaction for which a corresponding Affected Notional
            Amount is specified ("Affected Transaction") pursuant to
            sub-paragraph (i) above, the Notional Amount of that Affected
            Transaction shall be reduced as of the Mandatory Reduction Date by
            an amount equal to the Affected Notional Amount (and, if the
            Notional Amount otherwise accretes or amortizes after the
            Mandatory Reduction Date, the effect of that reduction shall be to
            reduce proportionately the Notional Amount of each future
            Calculation Period remaining under the Transaction), and an
            Additional Termination Event and Early Termination Date shall be
            deemed to have occurred on the Mandatory Reduction Date for that
            Transaction and Party B will be the sole Affected Party. For
            purposes of such Early Termination Date, the term "Terminated
            Transaction" as used in Section 6(e) of this Agreement shall be
            only that part of the Affected Transaction relating to the
            Affected Notional Amount, and the remainder of the Affected
            Transaction shall continue in full force and effect as a
            Transaction hereunder subject to the terms of this Agreement. The
            amount payable under Section 6(e) of this Agreement with respect
            to any such Early Termination Date shall be due and payable in
            accordance with such Section 6(e), provided that such payment
            shall be made no later than the next "Distribution Date" under the
            Trust Agreement to occur after the Mandatory Reduction Date, and
            provided further that the Market Quotation with respect to any
            Terminated Transaction under this sub-paragraph (ii) shall be
            determined on the basis of the quotation of one Reference
            Market-maker selected by Party A, which may be Party A to the
            extent its quotation is reasonably determined in good faith.

(k)   Events of Default. An Event of Default shall not occur with respect to
      Party A under Section 5(a)(v)(1) or (2) or Section 5(a)(vi) when the
      failure to pay or deliver, or the default, event of default or other
      similar condition or event, as the case may be, arises solely (i) out of
      a wire transfer problem or an operational or administrative error or
      omission (so long as the required funds or property required to make
      that payment or delivery were otherwise available to Party A), or (ii)
      from the general unavailability of the relevant currency due to exchange
      controls or other similar governmental action, but in either case only
      if the payment or delivery is made within three Local Business Days
      after the problem has been corrected, the error or omission has been
      discovered or the currency becomes generally available.

(l)   Modification of Section 5(a)(i) - Failure to Pay or Deliver. Section
      5(a)(i) is hereby amended to add the following language immediately
      after the word "party" at the end of the third line of such subsection
      "provided, however, such cure period shall not apply with respect to any
      amounts payable on the Termination Date".

                                     -6-
<PAGE>

(m)   Reports. For purposes hereof, Party B shall cause to be delivered to
      Party A within 10 days of the end of each calendar month a statement
      ("Reporting Statement") showing the Stated Amount of all Outstanding
      Certificates as of the end of such month and the Hedge Notional Amount
      as of the end of such month and each following month during the term of
      this Agreement for all outstanding Transactions under all Swap
      Agreements which Party B has entered into, whether the same have already
      commenced or are scheduled to commence on a future date.

Part 2. Tax Provisions

(a)   Payer Tax Representations. For the purpose of Section 3(e) of this
      Agreement, each party makes the following representation:

      It is not required by any applicable law, as modified by the practice of
      any relevant governmental revenue authority, of any Relevant
      Jurisdiction to make any deduction or withholding for or on account of
      any Tax from any payment (other than interest under Section 2(e),
      6(d)(ii) or 6(e) of this Agreement) to be made by it to the other party
      under this Agreement.

      In making this representation, a party may rely on (i) the accuracy of
      any representations made by the other party pursuant to Section 3(f) of
      this Agreement, (ii) the satisfaction of the agreement contained in
      Section 4(a)(i) or 4(a)(iii) of this Agreement, and the accuracy and
      effectiveness of any document provided by the other party pursuant to
      Section 4(a)(i) or 4(a)(iii) of this Agreement, and (iii) the
      satisfaction of the agreement of the other party contained in Section
      4(d) of this Agreement, provided that it shall not be a breach of this
      representation where reliance is placed on clause (ii) above and the
      other party does not deliver a form or document under Section 4(a)(iii)
      by reason of material prejudice to its legal or commercial position.

(b)   Payee Tax Representations. For the purpose of Section 3(f) of this
      Agreement:

      (i)   Party A makes the following representation(s):

            (A)   It is a national banking association organized or formed
                  under the laws of the United States and is a United States
                  resident for United States federal income tax purposes.

            (B)   Party A makes no other Payee Tax Representations.

      (ii)  Party B makes the following representation(s):

            (A)   It is a common law trust organized or formed under the laws
                  of New York.

                                     -7-
<PAGE>

      (c)   Tax Forms.

            (i)   Delivery of Tax Forms. For the purpose of Section 4(a)(i),
                  and without limiting Section 4(a)(iii), each party agrees to
                  duly complete, execute and deliver to the other party the
                  tax forms specified below with respect to it (A) before the
                  first Payment Date under this Agreement, (B) promptly upon
                  reasonable demand by the other party and (C) promptly upon
                  learning that any such form previously provided by the party
                  has become obsolete or incorrect.

                  In addition, in the case of any tax form that is a Periodic
                  Tax Form required to be delivered by Party B under this
                  Agreement, Party B agrees to renew such tax form prior to
                  its expiration by completing, executing and delivering to
                  Party A that tax form ("Renewal Tax Form") in each
                  succeeding third year following the year of execution of any
                  such tax form or Renewal Tax Form delivered by Party B to
                  Party A under this Agreement so that Party A receives each
                  Renewal Tax Form not later than December 31 of the relevant
                  year. "Periodic Tax Form" means any IRS Form W-9 that is
                  delivered by Party B to Party A without a U.S. Taxpayer
                  Identification Number.

            (ii)  Tax Forms to be Delivered by Party A:

                  Party A will deliver a correct, complete and duly executed
                  U.S. Internal Revenue Service Form W-9 (or successor
                  thereto), together with appropriate attachments, that
                  eliminates U.S. federal withholding and backup withholding
                  tax on payments to Party A under this Agreement.

            (iii) Tax forms to be Delivered by Party B:

                  Party B will deliver a correct, complete and duly executed
                  U.S. Internal Revenue Service Form W-9 (or successor
                  thereto), together with appropriate attachments, that
                  eliminates U.S. federal withholding and backup withholding
                  tax on payments to Party B under this Agreement.

Part 3. Documents

(a)   Delivery of Documents. When it delivers this Agreement, each party shall
      also deliver its Closing Documents to the other party in form and
      substance reasonably satisfactory to the other party. For each
      Transaction, a party shall deliver, promptly upon request, a duly
      executed incumbency certificate for the person(s) executing each
      Confirmation for that Transaction on behalf of that party.

(b)   Closing Documents.

      (i)   For Party A, "Closing Documents" mean:

            (A)   an opinion of Party A's counsel addressed to Party B in form
                  and substance acceptable to Party B;

                                     -8-
<PAGE>

            (B)   a duly executed incumbency certificate for each person
                  executing this Agreement for Party A, or in lieu thereof, a
                  copy of the relevant pages of its official signature book;
                  and

            (C)   each Credit Support Document (if any) specified for Party A
                  in this Schedule, together with a duly executed incumbency
                  certificate for the person(s) executing that Credit Support
                  Document, or in lieu thereof, a copy of the relevant pages
                  of its official signature book.

      (ii)  For Party B, "Closing Documents" mean:

            (A)   an opinion of Party B's counsel addressed to Party A in form
                  and substance acceptable to Party A;

            (B)   a duly executed copy of the Trust Agreement and the other
                  operative documents relating thereto and referred to
                  therein, executed and delivered by the parties thereto.

            (C)   a copy, certified by the secretary or assistant secretary of
                  Party B, of the resolutions of the board of directors or
                  extracts from the bylaws of Party B authorizing the
                  execution, delivery and performance by Party B of this
                  Agreement and authorizing Party B to enter into Transactions
                  hereunder; and

            (D)   a duly executed certificate of the secretary or assistant
                  secretary of Party B certifying the name and true signature
                  of each person authorized to execute this Agreement and
                  enter into Transactions for Party B.

Part 4. Miscellaneous

(a)   Addresses for Notices. For purposes of Section 12(a) of this Agreement,
      all notices to a party shall, with respect to any particular
      Transaction, be sent to its address, telex number or facsimile number
      specified in the relevant Confirmation, provided that any notice under
      Section 5 or 6 of this Agreement, and any notice under this Agreement
      not related to a particular Transaction, shall be sent to a party at its
      address, telex number or facsimile number specified below; provided
      further that any notice under the Credit Support Annex shall be sent to
      a party at its address, telex number or facsimile number specified in
      the Credit Support Annex.

      To Party A:

      WACHOVIA BANK, NATIONAL ASSOCIATION
      301 South College, DC-8
      Charlotte, NC 28202-0600
      Attention: Bruce M. Young
      Senior Vice President, Risk Management

                                     -9-
<PAGE>

      Fax: (704) 383-0575
      Phone: (704) 383-8778

      To Party B:

      STRATS(SM) Trust for Allstate Corporation Securities, Series 2006-3
      The Bank of New York
      101 Barclay Street, 8 East
      New York, NY 10286

      Attention: Kevin Pennant

      Fax:  (212) 815-2849
      Phone:      (212) 815-2850

(b)   Process Agent. Not applicable.

(c)   Offices. Section 10(a) applies.

(d)   Multibranch Party. Neither party is a Multibranch Party.

(e)   "Calculation Agent" means Party A.

(f)   Credit Support Document.

      (i)   For Party A, the following is a Credit Support Document: a Credit
            Support Annex dated the date hereof and duly executed and
            delivered by Party A and Party B and any applicable document
            governing Alternative Credit Support beginning on the effective
            date of such document.

      (ii)  For Party B, the following is a Credit Support Document: a Credit
            Support Annex dated the date hereof and duly executed and
            delivered by Party A and Party B.

(g)   Credit Support Provider.

      (i)   For Party A, Credit Support Provider means: none specified;
            provided that such party (other than Party A) executing a document
            governing Alternative Credit Support shall be a Credit Support
            Provider hereunder beginning on the effective date of such
            document.

      (ii)  For Party B, Credit Support Provider means: none specified.

(h)   Governing Law. This Agreement will be governed by and construed in
      accordance with the law (and not the law of conflicts except with
      respect to ss.ss. 5-1401 and 5-1402 of the New York General Obligations
      Law) of the State of New York.

                                     -10-
<PAGE>

(i)   Waiver of Jury Trial. To the extent permitted by applicable law, each
      party irrevocably waives any and all right to trial by jury in any legal
      proceeding in connection with this Agreement, any Credit Support
      Document to which it is a party, or any Transaction.

(j)   Netting of Payments. Section 2(c)(ii) of this Agreement will apply.

(k)   "Affiliate" has its meaning as defined in Section 14 of this Agreement.

Part 5. Other Provisions

(a)   ISDA Publications.

      (i)   2000 ISDA Definitions. This Agreement and each Transaction are
            subject to the 2000 ISDA Definitions (including its Annex)
            published by the International Swaps and Derivatives Association,
            Inc. (together, the "2000 ISDA Definitions") and will be governed
            by the provisions of the 2000 ISDA Definitions. The provisions of
            the 2000 ISDA Definitions are incorporated by reference in, and
            shall form part of, this Agreement and each Confirmation. Any
            reference to a "Swap Transaction" in the 2000 ISDA Definitions is
            deemed to be a reference to a "Transaction" for purposes of this
            Agreement or any Confirmation, and any reference to a
            "Transaction" in this Agreement or any Confirmation is deemed to
            be a reference to a "Swap Transaction" for purposes of the 2000
            ISDA Definitions. The provisions of this Agreement (exclusive of
            the 2000 ISDA Definitions) shall prevail in the event of any
            conflict between such provisions and the 2000 ISDA Definitions.

(b)   Additional Representations. Section 3 is amended by adding the following
      Sections 3(g), (h), (i) and (j):

      "(g) Non-Reliance. For any Relevant Agreement: (i) it acts as principal
      and not as agent; (ii) it acknowledges that the other party acts only at
      arm's length and is not its agent, broker, advisor or fiduciary in any
      respect, and any agency, brokerage, advisory or fiduciary services that
      the other party (or any of its affiliates) may otherwise provide to the
      party (or to any of its affiliates) excludes the Relevant Agreement;
      (iii) with respect to Party A, it understands the Relevant Agreement and
      those risks, has determined they are appropriate for it, and willingly
      assumes those risks, and with respect to Party B, it has been directed
      to execute the Relevant Agreement and it understands the Relevant
      Agreement and those risks and willingly assumes those risks; (iv) it has
      not relied and will not be relying upon any evaluation or advice
      (including any recommendation, opinion, or representation) from the
      other party, or the representatives or advisors of the other party
      (except representations expressly made in the Relevant Agreement or an
      opinion of counsel required thereunder); and (vi) if a party is acting
      as a Calculation Agent or Valuation Agent, it does so not as the other
      party's agent or fiduciary, but on an arm's length basis for the purpose
      of performing an administrative function in good faith.

                                     -11-
<PAGE>

      "Relevant Agreement" means this Agreement, each Transaction, each
      Confirmation, any Credit Support Document, and any agreement (including
      any amendment, modification, transfer or early termination) between the
      parties relating thereto or to any Transaction.

      (h) Eligibility. It is an "eligible contract participant" within the
      meaning of the Commodity Exchange Act (as amended by the Commodity
      Futures Modernization Act of 2000).

      (i) FDIC Requirements. If it is a bank subject to the requirements of 12
      U.S.C. ss. 1823(e), its execution, delivery and performance of this
      Agreement (including the Schedule, Credit Support Annex and each
      Confirmation) have been approved by its board of directors or its loan
      committee, such approval is reflected in the minutes of said board of
      directors or loan committee, and this Agreement (including the Schedule,
      Credit Support Annex and each Confirmation) will be maintained as one of
      its official records continuously from the time of its execution (or in
      the case of any Confirmation, continuously until such time as the
      relevant Transaction matures and the obligations therefor are satisfied
      in full).

      (j) ERISA. It is not (i) an employee benefit plan as defined in Section
      3(3) of the Employee Retirement Income Security Act of 1974, as amended
      ("ERISA") or a plan as defined in Section 4975(e) of the Internal
      Revenue Code of 1986, as amended (the "Code"), subject to Title I of
      ERISA or Section 4975 of the Code, or a plan as so defined but which is
      not subject to Title I of ERISA or Section 4975 of the Code (each, an
      "ERISA Plan"), (ii) a person or entity acting on behalf of an ERISA
      Plan, or (iii) a person or entity the assets of which constitute assets
      of an ERISA Plan.

(c)   Recorded Conversations. Each party and any of its Affiliates may
      electronically record any of its telephone conversations with the other
      party or with any of the other party's Affiliates in connection with
      this Agreement or any Transaction, and any such recordings may be
      submitted in evidence in any proceeding to establish any matters
      pertinent to this Agreement or any Transaction.

(d)   Confirmation Procedures. Upon receipt thereof, Party B shall examine the
      terms of each Confirmation sent by Party A, and unless Party B objects
      to the terms within three New York business days after receipt of that
      Confirmation, those terms shall be deemed accepted and correct absent
      manifest error, in which case that Confirmation will be sufficient to
      form a binding supplement to this Agreement notwithstanding Section
      9(e)(ii) of this Agreement.

Part 6. Additional Terms Relating to the Trust Agreement

(a)   Permitted Transfers.

      (i)   Notwithstanding Section 7 of this Agreement, Party A may make a
            Permitted Transfer without the prior written consent of Party B,
            and at Party A's own cost and expense, if either of the following
            events occurs:

            (A)   the unsecured and unsubordinated debt obligations of Party A
                  are rated below the Hedge Counterparty Required Rating or
                  the Hedge Counterparty Collateral Threshold Rating by S&P at
                  the time of the transfer; or

                                     -12-
<PAGE>

            (B)   any Tax Event or Tax Event Upon Merger exists with respect
                  to Party A at the time of the transfer.

      (ii)  "Permitted Transfer" means a transfer, in whole but not in part,
            of all of Party A's rights and obligations under this Agreement
            and which meets all of the following requirements:

            (A)   the transferee is a "Qualified Hedge Party" (as defined in
                  the Trust Agreement) or a recognized dealer in interest rate
                  swaps organized under the laws of the United States of
                  America or a jurisdiction located in the United States of
                  America (or another jurisdiction reasonably acceptable to
                  Party B and the Trustee under the Trust Agreement) that, at
                  the time of the transfer, maintains (or its proposed
                  guarantor maintains) the Hedge Counterparty Required Rating
                  from S&P on its unsecured and unsubordinated debt, deposit
                  or letter of credit obligations;

            (B)   S&P confirms in writing that such transfer will not result
                  in a reduction or withdrawal of its then current rating of
                  the Certificates under the Trust Agreement with respect to
                  which it has previously issued a rating;

            (C)   neither an Event of Default with respect to the transferee
                  nor a Termination Event would exist immediately after that
                  transfer;

            (D)   the transferee executes and delivers a written agreement
                  reasonably satisfactory to Party B and the Trustee under the
                  Trust Agreement in which the transferee, among other things,
                  legally and effectively accepts all the rights and assumes
                  all the obligations of Party A under this Agreement; and

            (E)   such transfer otherwise complies with the terms of the Trust
                  Agreement.

(b)   Transfer. No Party to this Agreement may transfer its obligations under
      this Agreement pursuant to Sections 6(b)(ii) or 7(a) of this Agreement
      except upon written confirmation from S&P that, any such reduction would
      not cause S&P's then-current rating on the Certificates to be adversely
      qualified, reduced, suspended or withdrawn. Upon the occurrence of a
      Collateral Rating Downgrade Event, Party A will use its best efforts to
      make a Permitted Transfer with respect to the Affected Transactions,
      provided that Party A does not otherwise elect to avoid an Additional
      Termination Event under Part 1(i)(i)(B) of this Scheduled by either (i)
      amending the Credit Support Annex with Party B, or (ii) providing
      Alternative Credit Support, each in accordance with the provisions
      specified in Part 1(i)(i)(B) of this Schedule; provided, however, in no
      event shall Party A's failure to make any such Permitted Transfer
      constitute an Event of Default.

(c)   Payments. All payments to Party B under this Agreement or any
      Transaction shall be made to the Certificate Account created under the
      Trust Agreement.

(d)   Set-off. Party A and Party B hereby waive any and all right of set-off
      with respect to any amounts due under this Agreement or any Transaction,
      provided that nothing herein shall be

                                     -13-
<PAGE>

      construed to waive or otherwise limit the netting provisions contained
      in Sections 2(c) and 6(e) of this Agreement or the setoff rights
      contained in any Credit Support Annex.

(e)   Trust Agreement

      (i)   Party B hereby acknowledges that Party A is a secured party under
            the Trust Agreement with respect to this Agreement and a
            third-party beneficiary under the Trust Agreement and Party B
            agrees for the benefit of Party A that neither it nor any other
            Person will take any action (whether in the form of an amendment,
            a modification, waiver, approval, consent or otherwise) which may
            have a material adverse effect with respect to the rights,
            interest or benefits granted to Party A under the Trust Agreement
            with respect to this Agreement, whether or not this Agreement is
            specifically referred to or identified therein.

      (ii)  On the date Party B executes and delivers this Agreement and on
            each date on which a Transaction is entered into, Party B hereby
            represents and warrants to Party A: that the Trust Agreement is in
            full force and effect; that Party B is not party to any separate
            agreement with any of the parties to the Trust Agreement that
            would have the effect of diminishing or impairing the rights,
            interests or benefits that have been granted to Party A under, and
            which are expressly set forth in, the Trust Agreement; that Party
            B's obligations under this Agreement are secured under the Trust
            Agreement; and that nothing herein violates or conflicts with any
            of the provisions of the Trust Agreement or any other documents
            executed in connection therewith.

(f)   Consent to Notice & Communications. Party B hereby consents to the
      giving to the Trustee of notice by Party A of Party A's address and
      telecopy and telephone numbers for all purposes of the Trust Agreement,
      and in addition, Party A shall also be entitled at any time to provide
      the Trustee with copies of this Agreement, including all Confirmations.
      In addition, Party A shall not be precluded from communicating with the
      Trustee or any party to, or any third party beneficiary under, the Trust
      Agreement for the purpose of exercising, enforcing or protecting any of
      Party A's rights or remedies under this Agreement or any rights,
      interests or benefits granted to Party A under the Trust Agreement.

(g)   No Bankruptcy Petition. Party A agrees that, prior to the date which is
      at least one year and one day after all Rated Indebtedness (as
      hereinafter defined) has been paid in full, it will not institute
      against, or join any other person or entity in instituting against,
      Party B any bankruptcy, reorganization, arrangement, insolvency,
      moratorium or liquidation proceedings, or other proceedings under
      federal or State bankruptcy or similar laws, provided that nothing
      herein shall preclude, or be deemed to estop, Party A from taking any
      action in any case or proceeding voluntarily filed or commenced by or on
      behalf of Party B or in any involuntary case or proceeding after it has
      commenced.

(h)   Limitation of Liability. Notwithstanding anything contained herein to
      the contrary, in executing this Agreement (including the Schedule,
      Credit Support Annex and each Confirmation) on behalf of Party B, the
      Trustee is acting solely in its capacity as trustee of Party B and not
      in its individual capacity, and in no event shall the Trustee, in its
      individual

                                     -14-
<PAGE>

      capacity or as beneficial owner of Party B, have any liability for the
      representations, warranties, covenants, agreements or other obligations
      of Party B hereunder, for which recourse shall be had solely to the
      assets of Party B.

(i)   Party A Rights Solely Against Collateral. The liability of Party B to
      Party A hereunder is limited in recourse to the assets of Party B and to
      the extent that the proceeds of such assets, when applied in accordance
      with the Trust Agreement, are insufficient to meet the obligations of
      Party B hereunder in full, Party B shall have no further liability in
      respect of any such outstanding obligations and any obligations of Party
      B which remain outstanding shall be extinguished. Party A further agrees
      that it shall not take any action against the directors, shareholders,
      administrator or officers of Party B to recover any amounts due
      hereunder (absent fraud or willful misconduct by any such person). This
      clause shall survive the termination of this agreement for any reason.

Part 7. Definitions:

      All capitalized terms used herein and not defined, shall have the
      definition ascribed to them in the Trust Agreement.

      "Credit Support Commencement Date" means the thirtieth (30th) calendar
      day after the occurrence of the Collateral Rating Downgrade Event.

      "Depositor" means Synthetic Fixed-Income Securities, Inc.

      "Rated Indebtedness" means the Certificates issued under the Trust
      Agreement.

      "Rating Agency Condition" means, S&P has confirmed in writing that it
      will not withdraw, suspend or reduce the applicable rating on the
      Certificates.

      "Securities Intermediary" means The Bank of New York or any successor,
      acting as Securities Intermediary pursuant to the Trust Agreement.

      "Trust Agreement" means that certain trust agreement dated February 28,
      2006 and including the related series supplement dated April 28, 2006
      between Synthetic Fixed-Income Securities, Inc and The Bank of New York,
      as trustee, pursuant to which Party B was formed.

      "Trustee" means The Bank of New York or any successor, acting as Trustee
      pursuant to the Trust Agreement.

                                     -15-
<PAGE>

IN WITNESS WHEREOF, the parties have executed this Schedule by their duly
authorized signatories as of the date hereof.

WACHOVIA BANK, NATIONAL ASSOCIATION

By: /s/ Jeremy Swinson
    -----------------------
    Name:  Jeremy Swinson
    Title: Vice President

STRATS(SM) TRUST FOR ALLSTATE CORPORATION SECURITIES, SERIES 2006-3

By:  The Bank of New York, as Trustee

By: /s/ Kevin Pennant
    ---------------------------
    Name:  Kevin Pennant
    Title: Assistant Vice President

                                     S-1

<PAGE>

                                                                Execution Copy

                                    ISDA(R)
            International Swaps and Derivatives Association, Inc.

                             CREDIT SUPPORT ANNEX
                            to the Schedule to the
                             ISDA MASTER AGREEMENT
                          dated as of April 28, 2006
                                    between
                WACHOVIA BANK, NATIONAL ASSOCIATION ("Party A")
                                      and
             STRATS(SM) TRUST FOR ALLSTATE CORPORATION SECURITIES,
                                 SERIES 2006-3

                                  ("Party B")
This Annex supplements, forms part of, and is subject to, the ISDA Master
Agreement referred to above (this "Agreement"), is part of its Schedule and is
a Credit Support Document under this Agreement with respect to Party A.

Accordingly, the parties agree as follows:

Paragraphs 1 - 12. Incorporation

Paragraphs 1 through 12 inclusive of the ISDA Credit Support Annex (Bilateral
Form) (ISDA Agreements Subject to New York Law Only) published in 1994 by the
International Swaps and Derivatives Association, Inc. are incorporated herein
by reference and made a part hereof, except as follows:

      Paragraph 1(b) is hereby amended in its entirety to read as follows:

      "(b)  Secured Party and Pledgor. Notwithstanding anything contained in
            this Annex to the contrary, (i) all references in this Annex to
            the "Secured Party" and all references to "other party" in
            Paragraphs 2, 9 and 11(b) of this Annex, will be to Party B
            exclusively, and (iii) all references in this Annex to the
            "Pledgor" and all references to "Each party" or "a party" in
            Paragraphs 2, 9 and 11(b) of this Annex, will be to Party A
            exclusively."

      Paragraph 7(iii) shall not apply to Party A or Party B.

Paragraph 13. Elections and Variables

(a)   Security Interest for "Obligations". The term "Obligations" as used in
      this Annex includes no obligations of Secured Party and, for purposes of
      the definition of Obligations in Paragraph 12, includes no additional
      obligations of Pledgor.

                                     A-1
<PAGE>

(b)   Credit Support Obligations.

      (i)   Delivery Amount, Return Amount and Credit Support Amount.

            (A)   "Delivery Amount" has the meaning specified in Paragraph
                  3(a).

            (B)   "Return Amount" has the meaning specified in Paragraph 3(b).

            (C)   "Credit Support Amount" has the meaning specified in
                  Paragraph 3.

      (ii)  Eligible Collateral. The following items will qualify as "Eligible
            Collateral":

                                     A-2
<PAGE>

                                                                  Valuation
                                                              Percentage (S&P):

      (A)   U.S. Cash:  U.S. Dollars in depositary                   100%
            account form.

      (B)   U.S. Treasury Securities: negotiable debt               98.60%
            obligations issued by the U.S. Treasury
            Department ("Treasuries") having a
            remaining maturity of up to and not more
            than 1 year.

      (C)   Treasuries having a remaining maturity of               94.10%
            greater than 1 year but not more than 5
            years.

      (D)   Treasuries having a remaining maturity of               90.70%
            greater than 5 years but not more than 10
            years.

      (E)   Treasuries having a remaining maturity of               85.30%
            greater than 10 years but not more than 20
            years.

      (F)   Treasuries having a remaining maturity of               85.30%
            greater than 20 years not more than 30
            years.

                            A-3
<PAGE>

      (iii) Other Eligible Support. Not applicable.

      (iv)  Thresholds.

            "Independent Amount" means for Pledgor: zero.

            "Independent Amount" means for Secured Party:
            zero

            (A)   "Threshold" means an amount equal to seven percent (7%) of the
                  Underlying Securities (as defined in the Trust Agreement) held
                  by Party B, as calculated by Party A.

            (B)   "Minimum Transfer Amount" is $50,000.00 for any Delivery
                  Amount of Pledgor, and zero for any Return Amount of Secured
                  Party.

            (C)   Rounding: The Delivery Amount and the Return Amount will be
                  rounded down to the nearest integral multiple of $10,000.

(c)   Valuation and Timing.

      (i)   "Valuation Agent" means, for purposes of Paragraphs 3, 4(d)(ii), 5
            and 6(d), the Pledgor.

      (ii)  "Valuation Date" means, monthly on the 1st calendar day of each
            month, commencing on May 1, 2006, or if such date is not a business
            day, the next succeeding business day.

      (iii) "Valuation Time" means the close of business in New York City on the
            Local Business Day before the Valuation Date or date of calculation,
            as applicable; provided that the calculations of Value and Exposure
            will be made as of approximately the same time on the same date.

      (iv)  "Notification Time" means 11:00 a.m., New York time, on a Local
            Business Day.

(d)   Conditions Precedent and Secured Party's Rights and Remedies. No Specified
      Conditions apply.

(e)   Substitution.

      (i)   "Substitution Date" has the meaning specified in Paragraph 4(d)(ii).

      (ii)  Consent. The Pledgor is not required to obtain the Secured Party's
            consent for any substitution pursuant to Paragraph 4(d).

                                      A-4
<PAGE>

(f)   Dispute Resolution.

      (i)   "Resolution Time" means 1:00 p.m., New York time, on the Local
            Business Day following the date on which the notice is given that
            gives rise to a dispute under Paragraph 5.

      (ii)  Value. For the purpose of Paragraphs 5(i)(C) and 5(ii), the Value of
            Posted Credit Support other than Cash will be calculated based upon
            the mid-point between the bid and offered purchase rates or prices
            for that Posted Credit Support as reported on the Bloomberg
            electronic service as of the Resolution Time, of if unavailable, as
            quoted to the Valuation Agent as of the Resolution Time by a dealer
            in that Posted Credit Support of recognized standing selected in
            good faith by the Valuation Agent, which calculation shall include
            any unpaid interest on that Posted Credit Support.

      (iii) Alternative. The provisions of Paragraph 5 will apply.

(g)   Holding and Using Posted Collateral.

      (i)   Eligibility to Hold Posted Collateral; Custodians. Secured Party
            will not be entitled to hold Posted Collateral itself, and instead
            the Secured Party will be entitled to hold Posted Collateral through
            a Custodian pursuant to Paragraph 6(b), provided that (1) Posted
            Collateral may be held in New York or an alternative jurisdiction
            acceptable to Party A, (2) the Custodian shall at all times be a
            bank or trust company with total assets in excess of $10 billion and
            having a rating assigned to its unsecured and unsubordinated
            long-term debt or deposit obligations of at least BBB+ from S&P and
            (3) Posted Collateral may be held by the Trustee (acting as trustee
            on behalf of the Secured Party). Initially the Custodian will be The
            Bank of New York.

      (ii)  Use of Posted Collateral. The provisions of Paragraph 6(c) will not
            apply to Secured Party and without prejudice to Secured Party's
            rights under Paragraph 8 of the Credit Support Annex, Secured Party
            will not take any action specified in such Section 6(c).

(h)   Interest Amount.

      (i)   Interest Rate. The "Interest Rate" will be the rate actually earned
            by the Custodian on the Posted Collateral as from time to time in
            effect and the Custodian shall hold all Posted Collateral in the
            form of Cash in Eligible Investments (as defined in the Trust
            Agreement) at the direction of the Pledgor. Custodian will provide
            details concerning such earnings upon Party A's request.

      (ii)  Transfer of Interest Amount. The Transfer of the Interest Amount
            will be made on the first Local Business Day of each calendar month
            and on any Local Business Day that Posted Collateral in the form of
            Cash is Transferred to the Pledgor pursuant to Paragraph 3(b).

      (iii) Alternative to Interest Amount. The provisions of Paragraph 6(d)(ii)
            will apply.

                                      A-5
<PAGE>

(i)   Additional Representation(s). Not applicable.

(j)   Other Eligible Support and Other Posted Support. Not applicable.

(k)   Demands and Notices. All demands, specifications and notices under this
      Annex will be made to a party as follows unless otherwise specified from
      time to time by that party for purposes of this Annex in a written notice
      given to the other party:

      To Pledgor:
      WACHOVIA BANK, NATIONAL ASSOCIATION
      201 South College Street, 6th Floor
      Charlotte, NC 28288-0601

      Attention:  Collateral Management Group

      Fax:   (704) 383-3194
      Phone: (704) 383-9529

      To Secured Party:
      STRATS(SM) TRUST FOR ALLSTATE CORPORATION SECURITIES, SERIES 2006-3
      The Bank of New York
      101 Barclay Street, 8 East
      New York, NY 10286

      Attention: Kevin Pennant

      Fax:   (212) 815-2849
      Phone: (212) 815-2850

(l)   Addresses for Transfers.

      (i)   For each Transfer hereunder to Pledgor, instructions will be
            provided by Pledgor for that specific Transfer.

      (ii)  For each Transfer hereunder to Secured Party, instructions will be
            provided by Secured Party for that specific Transfer.

(m)   Miscellaneous.

      (i)   Exposure. The definition of "Exposure" in Paragraph 12 is amended in
            its entirety to read as follows:

            "Exposure" means for any Valuation Date or other date for which
            Exposure is calculated, and subject to Paragraph 5 in the case of a
            dispute, the amount calculated by Party A based upon a reasonable
            good faith estimate of the unmitigated maximum

                                      A-6
<PAGE>

            probable credit exposure that Party B has to Party A with respect to
            all Transactions under the Agreement. The calculation of Exposure
            shall be made in substantially the same manner as that used in Party
            A's internal risk management process in respect of similar
            agreements.

      (ii)  Limited Applicability. Notwithstanding anything contained herein or
            in the Agreement, to the contrary, in no event shall Party A be
            required to post any Collateral to Party B under the terms of this
            Credit Support Annex, and Party B shall immediately return, or cause
            its Custodian to return, to Party A any and all Posted Collateral,
            in the event that: (x) Party A elects to provide to Party B the
            financial information and all necessary consents to meet the
            applicable requirements of Item 1115(b) of Regulation AB (as
            reasonably determined by Party B and the Depositor); (y) the
            "significance percentage" (as described in Item 1115 of Regulation
            AB) represented by the Transactions under this Agreement, and
            exclusive of any Posted Collateral under this Credit Support Annex,
            is less than 10% (as reasonably determined by Party B and the
            Depositor); or (z) Regulation AB is either (i) amended or modified
            in such a manner as to no longer required the disclosure of
            financial information concerning Party A with respect to the
            Agreement, or (ii) withdrawn or repealed, and no other similar rule,
            regulation or statute that applies to Party B or the Certificates is
            enacted or adopted which would require the disclosure of financial
            information concerning Party A with respect to the Agreement.

                                      A-7
<PAGE>

IN WITNESS WHEREOF the parties have executed this Credit Support Annex as of the
date hereof.

WACHOVIA BANK, NATIONAL ASSOCIATION

By: /s/ Jeremy Swinson
    --------------------------
    Name:  Jeremy Swinson
    Title: Vice President

STRATS(SM) TRUST FOR ALLSTATE CORPORATION SECURITIES, SERIES 2006-3

By: The Bank of New York, as Trustee

By: /s/ Kevin Pennant
    -------------------------
    Name:  Kevin Pennant
    Title: Assistant Vice President

                                      S-1

<PAGE>

                       FORWARD RATE AGREEMENT CONFIRMATION

[LOGO OMITTED]  WACHOVIA

Date:                March 31, 2006
To:                  STRATS (SM) Trust for Allstate Corporation Securities,
                     Series 2006-3 ("Counterparty")
Address:             The Bank of New York, as Trustee
                     101 Barclay Street
                     New York NY
                     10286 USA
Fax:                 212-815-2850
Attention:           Sir or Madam
From:                Wachovia Bank, N.A. ("Wachovia")
Ref.                 No: 1401515, 1401514, 1401513, 1401512, 1401508, 1401507,
                     1401506, 1401505, 1401504, 1401499, 1401498, 1401497,
                     1422849 (Internal Reference 1404672)

Dear Sir or Madam:

This confirms the terms of the Transaction described below between Counterparty
and Wachovia. The definitions and provisions contained in the 2000 ISDA
Definitions, as published by the International Swaps and Derivatives
Association, Inc., are incorporated into this Confirmation. In the event of any
inconsistency between those definitions and provisions and this Confirmation,
this Confirmation will govern (the "Definitions"). The parties hereby
acknowledge and agree that this Confirmation is intended to document 13 separate
Transactions, one of which shall apply with respect to each Payment Date
specified herein

1. The terms of the particular Transactions to which the Confirmation relates
are as follows:

Transaction Type:            Forward Rate Agreement
Currency for Payments:       U.S. Dollars
Notional Amount:             USD 35,000,000.00
     Trade Date:             March 31, 2006
     Effective Date:         April 28, 2006
     Termination Date:       May 01, 2007
     Fixed Rate Payer:       Wachovia
     Fixed Rate:             7.20%
     Period End Dates:       Monthly on the 1st of each month commencing May 01,
                             2006, through and including the Termination Date;
                             No Adjustment.
     Payment Dates:          Monthly on the 1st of each month commencing May 01,
                             2006, through and including the Termination Date
     Floating Rate Option:   USD-TBILL-H.15
     Designated Maturity:    3 Months
     Spread:                 None
     Fixed Rate Day Count
     Fraction:               30/360
     Reset Dates:            The Monday immediately preceding the first day of
                             each Calculation Period
     FRA Discounting:        Inapplicable
     FRA Amount:             Notwithstanding anything contained herein or in
                             the Definitions to the contrary, the only amount
                             payable hereunder with respect to each Payment

<PAGE>

                             Date hereunder shall be the FRA Amount (as
                             hereinafter defined), if any, which FRA Amount
                             shall be payable by Wachovia to the Counterparty on
                             each Payment Date. For purposes hereof, the term
                             "FRA Amount" shall mean, with respect to each
                             Calculation Period, the result of subtracting the
                             "Floating Amount" (as hereinafter defined) from the
                             "Fixed Amount" (as hereinafter defined); provided,
                             however, if such result is a negative number, then
                             the FRA Amount shall be deemed to be zero, and no
                             FRA Amount shall be payable by Wachovia to the
                             Counterparty.

                             For purposes hereof, the term "Fixed Amount" shall
                             mean the product of the following formula:

                             Notional Amount x Fixed Rate x (30/360).

                             For purposes hereof, the term "Floating Amount"
                             shall mean the product of the following formula:

                             Notional Amount x Floating Rate x (30/360).

2. The additional provisions of this Confirmation are as follows:

Calculation Agent:           Wachovia
Payment Instructions:        Wachovia Bank, N.A.
                             CIB Group, ABA 053000219
                             Ref: Derivative Desk (Trade No: 1401515, 1401514,
                             1401513, 1401512, 1401508, 1401507, 1401506,
                             1401505, 1401504, 1401499, 1401498, 1401497,
                             1422849 (Internal Reference 1404672))
                             Account #: 04659360006116
Wachovia Contacts:           Settlement and/or Rate Resets:
                             1-800-249-3865
                             1-704-383-8429

                             Documentation:
                             Tel: (704) 383-4599
                             Fax: (704) 383-9139

                             Collateral:
                             Tel: (704) 383-9529
                             Please quote transaction reference number.

Payments to Counterparty:    The Bank of New York
                             ABA #: 021000018
                             GLA #: 111-565
                             Account #: 338133 STRATS Allstate Series 2006-3
                             Phone: 1-212-815-2849 Fax: 1-212-815-2850

Documentation

This Confirmation supplements, forms part of, and is subject to, the ISDA Master
Agreement between Wachovia and Counterparty dated as of April 28, 2006, as
amended and supplemented from time to time (the "ISDA Master Agreement"). All
provisions contained or incorporated by reference in the Master

<PAGE>

Agreement will govern this Confirmation except as expressly modified herein.

<PAGE>

Please confirm that the foregoing correctly sets forth the terms of our
agreement by executing a copy of this Confirmation and returning it to us.

                               Very truly yours,
                               Wachovia Bank, N.A.

                               By: /s/ Kim V. Farr
                               --------------------------------
                               Name: Kim V. Farr
                               Title: Director

                               SP__

                               Ref. No. 1401515, 1401514, 1401513, 1401512,
                               1401508, 1401507, 1401506, 1401505, 1401504,
                               1401499, 1401498, 1401497, 1422849 (Internal
                               Reference 1404672)

Accepted and Confirmed as of date first
written above:
STRATS (SM) Trust for Allstate
Corporation Securities, Series 2006-3

By:  The Bank of New York, as Trustee

By: /s/ Kevin Pennant
-------------------------------
Name: Kevin Pennant
Title: Assistant Vice President

<PAGE>

                          SWAP TRANSACTION CONFIRMATION

[LOGO OMITTED] WACHOVIA

Date:                March 31, 2006
To:                  STRATS (SM) Trust for Allstate Corporation Securities,
                     Series 2006-3 ("Counterparty")
Address:             The Bank of New York, as Trustee
                     101 Barclay Street
                     New York NY
                     10286 USA
Fax:                 212-815-2850
Attention:           Sir or Madam
From:                Wachovia Bank, N.A. ("Wachovia")
Ref. No:             1393468, 1404674

Dear Sir or Madam:

This confirms the terms of the Transaction described below between Counterparty
and Wachovia. The definitions and provisions contained in the 2000 ISDA
Definitions, as published by the International Swaps and Derivatives
Association, Inc., are incorporated into this Confirmation. In the event of any
inconsistency between those definitions and provisions and this Confirmation,
this Confirmation will govern. Fixed Amounts and Floating Amounts for each
applicable Payment Date hereunder will be calculated in accordance with the ISDA
Definitions, and if any Fixed Amount and Floating Amount are due for the same
Payment Date hereunder, then those amounts shall not be payable and instead the
Fixed Rate Payer shall pay the positive amount, if any, which results from the
Floating Amount being subtracted from the Fixed Amount and the Floating Rate
Payer shall pay the positive amount, if any, which results from the Fixed Amount
being subtracted from the Floating Amount.

1. The terms of the particular Transaction to which the Confirmation relates are
as follows:

Transaction Type:            Interest Rate Swap
Currency for Payments:       U.S. Dollars
Notional Amount:             USD 35,000,000.00
Term:
     Trade Date:             March 31, 2006
     Effective Date:         April 28, 2006, in respect of the Fixed Amounts and
                             the Floating Amounts May 01, 2007, in respect of
                             the Interest Rate Cap
     Termination Date:       April 01, 2036

Fixed Amounts:

     Fixed Rate Payer:       Counterparty
     Period End Dates:       Semi-annually on the 1st of each May and November
                             commencing May 01, 2006, through and including the
                             Termination Date; No Adjustment.
     Payment Dates:          Semi-annually on the 1st of each May and November
                             commencing May 01, 2006, through and including the
                             Termination Date
     Business Day
     Convention:             Following
     Business Day:           New York
     Fixed Rate:             5.95%
     Fixed Rate Day Count
     Fraction:               30/360

<PAGE>

Additional Fixed Amount:

     Fixed Amount Payer:     Wachovia
     Fixed Amount:           USD 1,469,000.00
     Payment Date:           April 28, 2006
Floating Amounts:

     Floating Rate Payer:    Wachovia
     Period End Dates:       Monthly on the 1st of each month commencing May 01,
                             2006, through and including the Termination Date;
                             No Adjustment.
     Payment Dates:          Monthly on the 1st of each month commencing May 01,
                             2006, through and including the Termination Date
     Business Day
     Convention:             Following
     Business Day:           New York
     Floating Rate Option:   USD-TBILL-H.15
     Designated Maturity:    3 Months
     Spread:                 Plus  0.80%
     Floating Rate Day
     Count Fraction:         30/360
     Reset Dates:            The Monday immediately preceding the first day of
                             each Calculation Period.
     Compounding:            Inapplicable
     Rounding convention:    5 decimal places per the ISDA Definitions.

Interest Rate Cap:

     Floating Rate Payer:    Counterparty
     Cap Rate:               8.00%
     Period End Dates:       Monthly on the 1st of each month commencing June
                             01, 2007, through and including the Termination
                             Date; No Adjustment.
     Payment Dates:          Monthly on the 1st of each month commencing June
                             01, 2007, through and including the Termination
                             Date
     Business Day
     Convention:             Following
     Business Day:           New York
     Floating Rate Option:   USD-TBILL-H.15
     Designated Maturity:    3 Months
     Spread:                 Plus  0.80%
     Floating Rate Day
     Count Fraction:         30/360
     Reset Dates:            The Monday immediately preceding the first day of
                             each Calculation Period.
     Compounding:            Inapplicable
     Rounding Convention:    5 decimal places per the ISDA Definitions.

2. The additional provisions of this Confirmation are as follows:

Calculation Agent:           Wachovia
Payment Instructions:        Wachovia Bank, N.A.
                             CIB Group, ABA 053000219
                             Ref: Derivative Desk (Trade No: 1393468, 1404674)
                             Account #: 04659360006116
Wachovia Contacts:           Settlement and/or Rate Resets:

<PAGE>

                             1-800-249-3865
                             1-704-383-8429

                             Documentation:
                             Tel:  (704) 383-4599
                             Fax:  (704) 383-9139

                             Collateral:
                             Tel: (704) 383-9529
                             Please quote transaction reference number.
Payments to Counterparty:    The Bank of New York
                             ABA #: 021000018
                             GLA #: 111-565
                             Account #: 338133 STRATS Allstate Series 2006-3
                             Phone: 1-212-815-2849 Fax: 1-212-815-2850

Documentation

This Confirmation supplements, forms part of, and is subject to, the ISDA Master
Agreement between Wachovia and Counterparty dated as of April 28, 2006, as
amended and supplemented from time to time (the "ISDA Master Agreement"). All
provisions contained or incorporated by reference in the Master Agreement will
govern this Confirmation except as expressly modified herein.

<PAGE>

Please confirm that the foregoing correctly sets forth the terms of our
agreement by executing a copy of this Confirmation and returning it to us.

                                 Very truly yours,
                                 Wachovia Bank, N.A.

                                 By: /s/ Kim V. Farr
                                 -------------------------------
                                 Name: Kim V. Farr
                                 Title: Director

                                 SP__

                                 Ref. No. 1393468, 1404674

Accepted and Confirmed as
of date first written above:
STRATS (SM) Trust for Allstate
Corporation Securities, Series 2006-3

By:  The Bank of New York, as Trustee

By: /s/ Kevin Pennant
--------------------------------
Name:   Kevin Pennant
Title:  Assistant Vice PresidentExhibit 10.1 ESPP

     

      
        

      

    

    Exhibit
      10.1

    KEY
      TECHNOLOGY, INC.

    

    RESTATED
      1996 EMPLOYEE STOCK PURCHASE PLAN

    (Including
      Amendment No. 1)1

    

    ARTICLE
      1

    PURPOSE

    

    The
      purpose of the Key Technology, Inc. 1996 Employee Stock Purchase Plan (the
      "Plan") is to provide a convenient and practical means by which employees of
      Key
      Technology, Inc. (the "Corporation") and the employees of any Participating
      Subsidiary (as defined below) may acquire stock of the Corporation. The
      Corporation believes that employee ownership of its stock will mutually benefit
      the employees and the Corporation by creating a greater community of interest
      between the Corporation's stockholders and its employees. The Corporation
      intends that the Plan qualify as an "employee stock purchase plan" within the
      meaning of Section 423 of the Code (as defined below). Further, the Corporation
      intends that the Plan satisfy the requirements of Rule 16b-3 under the
      Securities Exchange Act. The Plan was amended effective as of November 8, 2005
      to shorten the waiting period for participation 

    

    ARTICLE
      2

    DEFINITIONS

    

    The
      following terms, when capitalized, shall have the meaning specified below unless
      a different meaning is plainly required by the context.

    

    2.1. "Account"
      means each separate account maintained for a Participant under the Plan. Each
      Account shall be credited with a Participant's contributions and shall be
      charged for the purchase of Shares. A Participant shall be fully vested in
      his
      or her Account at all times.

    

    2.2. "Board
      of
      Directors" means the Board of Directors of the Corporation. 

    

    2.3. "Code"
      means the Internal Revenue Code of 1986, as amended. 

    

    2.4. “Committee"
      means the Committee appointed by the Board of Directors under Article 8, or,
      if
      no such Committee is appointed, shall mean the Board of Directors.

    

    2.5. "Compensation"
      means the total cash compensation paid to an Employee as salary, wages or other
      compensation.

    

    2.6. "Common
      Stock" means the common stock of the Corporation. 

    _______________________

    1
      Amendment No. 1 was adopted by the Board of Directors effective November 8,
      2005
      amending Section 3.1(b) to shorten the waiting period for eligibility to
      participate from two years to 30 days.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.7. "Corporation"
      means Key Technology, Inc., an Oregon corporation. 

    

    2.8. "Disability"
      means a mental or physical impairment which is expected, in the opinion of
      the
      Corporation and an independent physician, to result in death or to last for
      a
      continuous period of 12 months or more and which causes the Employee to be
      unable to perform his or her regular duties as an employee of the Corporation.
      Disability shall be deemed to have occurred on the first day after the
      Corporation and the independent physician have furnished their opinion of
      Disability to the Plan Administrator. 

    

    2.9. "Employee"
      means any person who performs services for an Employer in a regular employee
      status. A person rendering services to an Employer as an independent consultant
      or contractor shall not be considered as an Employee for purposes of the
      Plan. 

    

    2.10. "Employer"
      means, collectively, the Corporation and any Participating Subsidiary, or any
      successor entity that continues the Plan. 

    

    2.11. "Employment"
      means the period during which an individual is an Employee. Employment shall
      commence on the day the individual first performs services for an Employer
      as an
      Employee and shall terminate on the day such services cease. 

    

    2.12. "Enrollment
      Date" means the first day of each Offering Period. 

    

    2.13. "Notice
      of Withdrawal" means the form provided by the Corporation on which an Employee
      may elect to withdraw the entire amount credited to his or her Account under
      the
      Plan and terminate his or her participation in a then current Offering.

    

    2.14. "Offering"
      means the offering of Shares pursuant to the Plan during an Offering Period.
      

    

    2.15. "Offering
      Period" means any one of the four separate three-month periods commencing on
      October 1, January 1, April 1, and July 1 of each year; provided, however,
      that
      the first Offering Period shall be set by the Plan Administrator and shall
      continue through the earlier of the next succeeding December 31, March 31,
      June
      30 or September 30, at which time such Offering shall terminate. 

    

    2.16. "Participant"
      means an Employee who is participating in an Offering under the Plan.

    

    2.17. "Participating
      Subsidiary" means a Subsidiary designated by the Board of Directors as
      participating in the Plan. 

    

    2.18. "Payroll
      Deduction Authorization Form" means the form provided by the Corporation on
      which an Employee may elect to participate in the Plan and designate the
      percentage of his or her Compensation to be contributed to his or her Account
      through payroll deductions. 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.19. "Plan"
      means this Employee Stock Purchase Plan. 

    

    2.20. "Plan
      Administrator" means the Board of Directors or the Committee, whichever shall
      be
      administering the Plan from time to time. 

    

    2.21. "Purchase
      Date" means the last business day of any Offering Period. 

    

    2.22. "Retirement"
      means a Participant's termination of Employment on or after (a) attaining the
      age of 65, or (b) Disability. 

    

    2.23. "Share"
      means one share of Common Stock. 

    

    2.24. "Subsidiary"
      means any corporation, association or other business entity of which 50% or
      more
      of the total combined voting power is owned or controlled, directly or
      indirectly, by the Corporation or one or more of its Subsidiaries or both.
      

    

    2.25. "Valuation
      Day" means the date upon which the fair market value of Shares is to be
      determined for purposes of setting the price of Shares under Section
5.2
      (the
      applicable Purchase Date). If the Purchase Date is not a date on which the
      fair
      market value may be determined in accordance with Section 5.3,
      the
      Valuation Date shall be the first date prior to the Purchase Date on which
      such
      fair market value may be determined. 

    

    ARTICLE
      3

    EMPLOYEE
      PARTICIPATION

    

    3.1. Requirements
      for Participation.
      A person
      shall be eligible to participate in the Plan on the first Enrollment Date on
      which he or she meets all of the following requirements and such person will
      continue to be eligible so long as the requirements are met: 

    

    
      	 	
              (a)

            	
              The
                person is an Employee of an Employer;

            

    

    

    
      	 	
              (b)

            	
              The
                person has been employed by an Employer for 30 days or longer, and
                

            

    

    

    (c) The
      person is customarily employed by an Employer for at least twenty (20) hours
      per
      week and more than five (5) months per fiscal year of the Employer.

    

    3.2 Enrollment.
      Any
      Employee qualified to participate in the Plan as provided in Section
0
      may
      elect to participate in the Plan, effective as of any future Enrollment Date,
      by
      completing and filing a Payroll Deduction Authorization Form as provided in
      Section 4.1.
      Absent
      withdrawal from the Plan pursuant to Section 6.3,
      a
      Participant who has elected to participate in the Plan by completing and filing
      a Payroll Deduction Authorization Form with respect to an Offering Period will
      automatically be re-enrolled in the Plan on the next Enrollment Date immediately
      following the expiration of the Offering of which he or she is then a
      Participant, and the terms of the Payroll Deduction Authorization Form then
      on
      file with the 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Corporation
      shall remain applicable for each subsequent Offering Period until modified
      in
      accordance with Section 4.5. 

    

    3.3 Option
      for Shares.
      As of
      each Enrollment Date, until the supply of Shares reserved under the Plan is
      exhausted, the Corporation shall grant an option to purchase Shares under the
      terms of the Plan to each Employee who has elected to participate in the
      Offering. The number of shares covered by any such option shall be determined
      pursuant to Article 5. 

    

    3.4 Ineligibility.
      A
      Participant shall become ineligible to participate in the Plan and shall cease
      to be a Participant when any of the following occurs: 

    

    (a) The
      entity of which the Participant is an Employee ceases to be an Employer as
      defined in Section 2.10;
      or

    

    (b) The
      Participant ceases to be an eligible Employee as defined in Section
      3.1.

    

    The
      payroll deductions credited to the Account of any Participant who becomes
      ineligible during an Offering Period shall be returned to the Participant,
      and
      the ineligible Participant shall have no right to purchase Shares at the next
      Purchase Date.

    

    3.5 Limitations
      on Participation. 

    

    (a) Employees
      who are also directors or officers of the Corporation may participate only
      in
      accordance with Rule 16b-3 under the Securities Exchange Act of 1934, as
      amended. 

    

    (b) No
      Employee may obtain an option to purchase Shares under the Plan if, immediately
      after such option is granted, the Employee owns or is deemed to own Shares
      possessing five percent or more of the combined voting power or value of all
      classes of stock of the Corporation or a Subsidiary of the Corporation. For
      purposes of determining share ownership, the rules of Section 424(d) of the
      Code
      shall apply and Shares that the Employee may purchase under any options or
      rights to purchase, whether or not vested, shall be treated as Shares owned
      by
      the Employee.

    

    (c) No
      Employee may obtain an option to purchase Shares under the Plan which permits
      the Employee's rights to purchase Shares under the Plan and any other employee
      stock purchase plan of the Corporation or any Subsidiary of the Corporation
      to
      accrue at a rate that exceeds $25,000 of fair market value of Shares (determined
      as of the Enrollment Date) for each calendar year in which such option to
      purchase Shares are outstanding. For this purpose, the right to purchase Shares
      accrues on the Purchase Date of an Offering Period. This Section shall be
      interpreted to permit an Employee to purchase the maximum number of Shares
      permitted under Section 423(b)(8) of the Code and regulations and
      interpretations adopted thereunder.

    

    ARTICLE
      4

    PAYROLL DEDUCTIONS

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    4.1 Payroll
      Deduction Authorization.
      An
      Employee may contribute to the Plan only by means of payroll deduction. A
      Payroll Deduction Authorization Form must be filed with the enrolling
      individual's payroll office not less than 15 days prior to the Enrollment Date
      as of which the payroll deductions are to take effect. 

    

    4.2 Amount
      of Deductions.
      A
      Participant may make contributions to the Plan at a rate not less than $10.00
      and not more than five percent of the Participant's Compensation during each
      pay
      period in the Offering Period, or such other minimum or maximum amounts or
      percentages as the Plan Administrator shall establish from time to
      time.

    

    4.3 Commencement
      of Deductions.
      Payroll
      deductions for a Participant shall commence with the first paycheck following
      the Enrollment Date of the Offering for which his or her Payroll Deduction
      Authorization Form is effective and shall continue indefinitely, unless modified
      or terminated as provided in Section 4.5
      or as
      otherwise provided in the Plan.

     

    
      4.4 Accounts.
        All
        payroll deductions made for a Participant shall be credited to his or her
        Account under the Plan. Following each Purchase Date, the Plan Administrator
        shall promptly deliver a report to each Participant setting forth the aggregate
        payroll deductions credited to such Participant's Account during the preceding
        three months and the number of Shares purchased. 

      

      4.5 Modification
        of Authorized Deductions. 

    

     

    (a) Subject
      to the limitations of Section 4.2,
      a
      Participant may, prior to the commencement of each Offering Period in which
      he
      or she will be a Participant, increase or reduce the amount of his or her
      payroll deduction, effective for all subsequent payroll periods, by completing
      an amended Payroll Deduction Authorization Form and filing it with his or her
      payroll office not less than 15 days prior to the commencement of the Offering
      Period as of which the increase or reduction is to take effect. 

     

    (b) A
      Participant may at any time discontinue his or her payroll deductions by
      completing a Notice of Withdrawal Form and filing it with his or her payroll
      office at least 15 days prior to the next Purchase Date. After such filing,
      the
      Participant's participation in the Offering will terminate without automatic
      reenrollment under Section 3.2,
      and any
      payroll deductions credited to such Participant's Account shall be returned
      to
      the Participant. 

     

    4.6 Insufficient
      Funds.
      If a
      payroll deduction cannot be made in whole or in part because the Participant's
      pay for the period in question is insufficient to fund the deduction after
      having first withheld all the amounts otherwise deductible from his or her
      pay,
      the amount that 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    was
      not
      withheld cannot be made up by the Participant nor will it be withheld from
      subsequent paychecks. 

    

    ARTICLE
      5

    PURCHASES
      OF SHARES

    

    5.1 Purchase
      of Shares.
      Subject
      to the limitations of Article 6, on each Purchase Date, the Corporation shall
      apply the amount credited to each Participant's Account to the purchase of
      as
      many full Shares that may be purchased with such amount at the price set forth
      in Section 5.2,
      and
      shall issue such Shares to the Participant. 

    

    5.2 Price.
      The
      price of Shares to be purchased under Section 5.1
      on any
      Purchase Date shall be 85% of the fair market value of the Shares on the
      Purchase Date of the Offering.

    

    5.3 Fair
      Market Value.
      The fair
      market value of the Shares on any date shall be equal to the closing price
      of
      such shares on the Valuation Date, as reported in the Wall Street Journal or
      other reputable publication as determined by the Plan Administrator. If no
      closing price is reported, the fair market value shall be determined in good
      faith by the Plan Administrator. Such determination shall be conclusive and
      binding on all persons.

    

    5.4 Unused
      Contributions.
      Any
      amount credited to a Participant's Account and remaining therein immediately
      after a Purchase Date because it was less than the amount required to purchase
      a
      full Share shall be carried forward in such Participant's Account for
      application on the next succeeding Purchase Date. No interest will be paid
      on
      the amounts accumulated.

    

    5.5 Delivery
      and Custody of Shares.
      Shares
      purchased by a Participant pursuant to the Plan shall be delivered to an
      investment or financial firm appointed by the Plan Administrator to act as
      custodian on behalf of the Participant.

    

    ARTICLE
      6

    TERMINATION
      AND WITHDRAWAL

    

    6.1 Termination
      of Employment.
      Upon
      termination of a Participant's Employment for any reason other than death,
      Disability or Retirement, the payroll deductions credited to such Participant's
      Account shall be returned to the Participant. Such Participant shall have no
      right to acquire Shares on any Purchase Date subsequent to termination of his
      or
      her Employment. 

    

    6.2 Termination
      upon Death, Disability or Retirement.
      Upon
      termination of the Participant's Employment because of his or her death,
      Disability or Retirement, the payroll deductions credited to his or her Account
      shall be used to purchase Shares on the next Purchase Date. Any remaining
      balance in the Participant's Account shall be returned to him or her or, in
      the
      case of death, to the deceased Participant's estate. 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    6.3 Withdrawal.
      A
      Participant may withdraw the entire amount credited to his or her Account under
      the Plan and thereby terminate participation in the current Offering at any
      time
      by filing a Notice of Withdrawal with the Corporation, but in no case may a
      Participant withdraw amounts within the 15 days immediately preceding a Purchase
      Date for that Offering. Any amount withdrawn shall be paid to the Participant
      promptly after receipt of proper Notice of Withdrawal and no further payroll
      deductions shall be made unless a Payroll Deduction Authorization Form directing
      further deductions is or has been submitted.

    

    ARTICLE
      7

    SHARES
      PURCHASED UNDER THE PLAN

    

    7.1 Source
      and Limitation of Shares. 

    

    (a) The
      Corporation has reserved for sale under the Plan 500,000 shares of its Common
      Stock, subject to adjustment upon changes in capitalization of the Corporation
      as provided in Section 9.2.
      Shares
      sold under the Plan shall be newly issued shares, and all shares sold under
      the
      Plan shall be counted against the 500,000 Share limitation. 

    

    (b) If
      there
      is an insufficient number of Shares to permit the full exercise of all existing
      options to purchase Shares, or if the legal obligations of the Corporation
      prohibit the issuance of all Shares purchasable upon the full exercise of such
      options, the Plan Administrator shall make a pro rata allocation of the Shares
      remaining available in as nearly a uniform and equitable manner as possible,
      based on the aggregate amounts then credited to each Participant's Account.
      In
      such event, payroll deductions to be made shall be reduced accordingly and
      the
      Plan Administrator shall give written notice of such reduction to each
      Participant affected. Any amount remaining in a Participant's Account
      immediately after all available Shares have been purchased will be promptly
      remitted to such Participant. No payroll deductions shall be permitted under
      the
      Plan at any time when no Shares are available. 

    

    7.2 Delivery
      of Shares.
      The
      options to purchase Shares granted pursuant to this Plan are subject to the
      terms and conditions of the Plan, as interpreted by the Plan Administrator
      from
      time to time. The Participant shall have no interest in Shares purchasable
      under
      the Plan until payment for the Shares has been completed at the close of
      business on the relevant Purchase Date. The Plan provides only an unfunded,
      unsecured promise by the Employer to pay money or property in the future. Except
      with respect to the Shares purchased on a Purchase Date, an Employee choosing
      to
      participate in the Plan shall have no greater rights than an unsecured creditor
      of the Corporation. After the purchase of the Shares, the Participant shall
      be
      entitled to all rights of a stockholder of the Corporation. 

    

    ARTICLE
      8

    ADMINISTRATION

    

    8.1 Plan
      Administrator.
      At the
      discretion of the Board of Directors, the Plan shall be administered by the
      Board of Directors or by a Committee appointed by the Board of 

    Directors
      in accordance with Rule 16b-3 under the Securities Exchange Act of 1934, as
      

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    amended.
      Each member of the Committee shall be either a director, an officer or an
      Employee of the Corporation. Each member shall serve for a term commencing
      on a
      date specified by the Board of Directors and continuing until he or she dies,
      resigns or is removed from the office by the Board of Directors. 

    

    8.2 Powers.
      The Plan
      Administrator shall be vested with full authority to make, administer and
      interpret all rules and regulations as it deems necessary to administer the
      Plan. Any determination, decision or act of the Plan Administrator with respect
      to any action in connection with the construction, interpretation,
      administration or application of the Plan shall be final, conclusive and binding
      upon all Participants and any and all other persons claiming under or through
      any Participant. The provisions of the Plan shall be construed in a manner
      consistent with the requirements of Section 423 of the Code. 

    

    8.3 Payroll
      Deductions by Participating Subsidiary.
      If
      payroll deductions are made by a Participating Subsidiary, that corporation
      will
      promptly remit the amount of the deduction to the Corporation. 

    

    ARTICLE
      9

    CHANGES
      IN CAPITALIZATION, MERGER, ETC.

    

    9.1 Rights
      of the Corporation.
      The
      grant of an option to purchase Shares pursuant to this Plan shall not affect
      in
      any way the right or power of the Corporation to make adjustments,
      reclassifications, reorganizations or other changes of its capital or business
      structure or to merge or to consolidate or to dissolve, liquidate or transfer
      all or any part of its divisions, subsidiaries, business or assets.

    

    9.2 Recapitalization.
      Subject
      to any required action by the stockholders, the number of Shares covered by
      the
      Plan as provided in Section 7.1
      and the
      price per Share, to the extent appropriate, shall be proportionately adjusted
      for any increase or decrease in the number of issued Shares of the Corporation
      resulting from a subdivision or consolidation of Shares or the payment of a
      stock dividend on the Shares. The determination of whether an adjustment shall
      be made and the manner of any adjustment shall be made by the Plan Administrator
      without any further approval from the stockholders, which determination shall
      be
      conclusive. 

    

    9.3 Consolidation
      or Merger.
      In the
      event of the consolidation or merger of the Corporation with or into any other
      business entity, or the sale by the Corporation of substantially all of its
      assets, the successor may continue the Plan by resolution of its board of
      directors or agreement of its partners or proprietors. If, within 90 days after
      the effective date of a consolidation, merger or sale of assets, the successor
      corporation, partnership or proprietorship does not adopt the Plan, the Plan
      shall be terminated in accordance with Section 11.2.
      

    

    ARTICLE
      10

    STOCKHOLDER
      APPROVAL AND RULINGS

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    The
      Plan
      is subject to the affirmative vote of the holders of a majority of the
      outstanding shares of the Corporation present in person or by proxy at a meeting
      of stockholders within 12 months after the date the Plan is adopted. If the
      Plan
      is not so approved by the stockholders within 12 months after the date the
      Plan
      is adopted, the Plan shall not be qualified under Section 423 of the Code.
      In
      that case, the benefits to the Participants under the Plan shall be taxable
      as
      provided by law. 

    

    ARTICLE
      11

    AMENDMENT
      AND TERMINATION OF THE PLAN

    

    11.1 Amendment.
      The
      Board of Directors may at any time amend the Plan. Except as otherwise provided,
      no amendment may adversely affect or change any option to purchase Shares
      previously granted to any Participant. No amendment shall be made without prior
      approval of the stockholders of the Corporation if the amendment would:

    

    (a) Permit
      the sale of more Shares than are authorized under Section 7.1;
      

    

    (b) Permit
      the sale of Shares to employees of any entity which is not an Employer as
      defined in Section 2.10;
      

    

    (c) Materially
      increase the benefits accruing to Participants under the Plan; or

    

    (d) Materially
      modify the requirements as to eligibility for participation in the
      Plan. 

    

    11.2 Termination.
      The Plan
      is intended to be a permanent program, but the Corporation shall have the right
      at any time to declare the Plan terminated completely. Upon such termination,
      any amounts then credited to the Accounts of Participants for the then current
      Offering Period shall be returned to such Participants. 

    

    ARTICLE
      12

    MISCELLANEOUS

    

    12.1 Non-Transferability.
      Neither
      payroll deductions credited to a Participant's Account nor any options with
      regard to the purchase of Shares under the Plan may be assigned, transferred,
      pledged or otherwise disposed of in any way by the Participant, and any
      attempted assignment, transfer, pledge, or other disposition shall be null
      and
      void. The Corporation may treat any such act as an election to withdraw funds
      in
      accordance with Section 6.3.
      

    

    12.2 Use
      of Funds.
      All
      payroll deductions received or held by the Corporation under the Plan may be
      used by the Corporation for any corporate purposes and the Corporation shall
      not
      be obligated to segregate the payroll deductions. 

    

    12.3 Expenses.
      All
      expenses of administering the Plan shall be borne by the Corporation and its
      Participating Subsidiaries. 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    12.4 No
      Interest.
      No
      Participant shall be entitled to any payment or credit for interest with respect
      to or on payroll deductions contemplated by the Plan, or on any other assets
      held for the Participant's Account. 

    

    12.5 Registration
      and Qualification of Shares.
      The
      Offering of the Shares shall be subject to the Corporation obtaining any
      registration or qualification of the Shares under any federal or state law
      or
      the obtaining of the consent or approval of any governmental regulatory body
      which the Corporation shall determine, in its sole discretion, is necessary
      or
      desirable as a condition to, or in connection with, the Offering or the issue
      or
      purchase of the Shares covered. The Corporation shall make every reasonable
      effort to effect such registration or qualification or to obtain such consent
      or
      approval. 

    

    12.6 Plan
      Not a Contract of Employment.
      The Plan
      is strictly a voluntary undertaking on the part of the Employer and shall not
      constitute a contract between the Employer and any Employee, or an inducement
      or
      a condition of the employment of any Employee. Except as otherwise required
      by
      law, nothing contained in the Plan shall give any Employee the right to be
      retained in the service of the Employer or to interfere with or restrict the
      right of the Employer, which is hereby expressly reserved, to discharge or
      retire any Employee at any time, with or without cause and with or without
      notice. Except as otherwise required by law, inclusion under the Plan will
      not
      give any Employee any right or claim to any benefit except to the extent such
      right has specifically become fixed under the terms of the Plan. 

    

    12.7 Termination
      of Employment.
      A
      person's Employment shall not terminate or be considered to have ceased on
      account of an authorized leave of absence, sick leave or vacation. 

    

    12.8 Substantial
      Performances.
      The
      doctrine of substantial performance shall have no application to any Employee
      or
      Participant. 

    

    12.9 Service
      of Process.
      The
      Secretary of the Corporation is designated agent for service of legal process
      on
      the Plan. 

    

    12.10 Notice.
      All
      notices or other communications by a Participant to the Corporation under or
      in
      connection with the Plan shall be deemed to have been duly given when received
      by the Plan Administrator. Any notice required by the Plan to be received by
      the
      Corporation prior to an Enrollment Date, payroll period or other specified
      date,
      and received by the Plan Administrator subsequent to such date shall be
      effective on the next occurring Enrollment Date, payroll period or other
      specified date to which such notice applies. 

    

    12.11 Governing
      Law.
      The Plan
      shall be interpreted, administered and enforced in accordance with the Code,
      and
      the rights of Participants, former Participants, and all other persons shall
      be
      determined in accordance with it. To the extent that state law is applicable,
      however, the laws of the State of Washington shall apply. 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    12.12 Plurals.
      Where
      the context so indicates, the singular shall include the plural and vice versa.
      

    

    12.13 Titles.
      Titles
      of Articles and Sections are provided for convenience only and are not to serve
      as the basis for interpretation or construction of the Plan. 

    

    12.14 References.
      Unless
      the context clearly indicates to the contrary, reference to a Plan provision,
      statute, regulation or document shall be construed as referring to any
      subsequently enacted, adopted or executed counterpart. 

    

    12.15 Responsibility.
      Neither
      the Corporation, its Board of Directors, any Participating Subsidiary, nor
      any
      officer or employee of any of them shall be liable to any Employee under the
      law
      for any mistake of judgment or for any omission or wrongful act unless resulting
      from willful misconduct or intentional misfeasance.

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