Document:

EXHIBIT 4.15

                          WESTINGHOUSE SAVINGS PROGRAM

                         Restated as of January 1, 1994

                                  WORKING COPY
           (INCLUDING AMENDMENTS ADOPTED THROUGH THE DATE OF THE CLOSE
                          OF THE CBS / VIACOM MERGER)

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                                TABLE OF CONTENTS

                                                                            Page
                                                                            ----

ARTICLE I       ELIGIBILITY AND PARTICIPATION.................................4
ARTICLE II      CONTRIBUTIONS.................................................6
ARTICLE III     INVESTMENT OPTIONS AND TRANSFERS TO AND FROM THE TRUST.......23
ARTICLE IV      VALUATION OF INVESTMENTS AND CREDITS TO ACCOUNTS.............27
ARTICLE V       VESTING OF ACCOUNTS..........................................29
ARTICLE VI      DISTRIBUTION OF ACCOUNTS UPON TERMINATION, RETIREMENT,
                OR DEATH.....................................................32
ARTICLE VII     IN-SERVICE WITHDRAWALS.......................................41
ARTICLE VIII    LOANS........................................................45
ARTICLE IX      DESIGNATION OF BENEFICIARY...................................49
ARTICLE X       VOTING OF STOCK..............................................51
ARTICLE XI      TENDER OFFERS................................................52
ARTICLE XII     EFFECTIVE DATE OF THE PLAN...................................53
ARTICLE XIII    TERMINATION OR SUSPENSION OF THE PLAN........................54
ARTICLE XIV     TRUSTEE......................................................56
ARTICLE XV      ADMINISTRATION...............................................57
ARTICLE XVI     GENERAL PROVISIONS...........................................68
ARTICLE XVII    DEFINITIONS..................................................71
APPENDIX B      TOP HEAVY PROVISIONS.........................................97

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                                    ARTICLE I

                          ELIGIBILITY AND PARTICIPATION

1.       Any Employee shall be eligible to participate in the Plan immediately
         upon employment by an Employer. To participate an Employee must apply
         in accordance with reasonable procedures established by the Plan
         Administrator.

2.       If a Participant transfers employment from an Employer to an Affiliated
         Entity or an Excluded Unit, he shall remain a Participant for all
         purposes of the Plan, except that he shall not be eligible to
         contribute and no Employer Match Contributions shall be made on his
         behalf for the period of time he is employed by the Affiliated Entity
         or Excluded Unit. If an employee transfers from an Affiliated Entity or
         an Excluded Unit to an Employer, service with the Affiliated Entity or
         Excluded Unit shall be recognized as Eligibility Service under this
         Plan.

3.       If a Retired Participant or a Terminated Participant is rehired as an
         Employee, he may immediately participate in the Plan, and any previous
         Eligibility Service shall be restored.

4.       If a Retired Participant is rehired as an Employee and he has Accounts
         remaining in this Plan, the Plan Administrator will segregate any new
         contributions into separate Accounts so that the Accounts as a Retired
         Participant are always available for immediate withdrawal under any
         circumstances.

5.       Effective at the beginning of the day (00:00:00 a.m.) on January 1,
         2000, no individual may make any Pre-Tax Contributions, After-Tax
         Contributions, or any other type of contributions to the Plan, nor
         shall any Employer Match Contributions or any other type of
         contributions be made to the Plan after such time.

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                                   ARTICLE II

                                  CONTRIBUTIONS

1.       A Participant may elect to save at a rate of two percent (2%) to twenty
         percent (20%) of his Compensation, in increments of one percent (1%),
         on an after-tax basis, a pre-tax basis or a combination thereof.
         Contributions to the Plan on an after-tax basis as After-Tax
         Contributions shall be allocated to the Participant's After-Tax Account
         and contributions to the Plan on a pre-tax basis as Pre-Tax
         Contributions shall be allocated to the Participant's Pre-Tax Account.
         Each Participant shall make such election with the Plan Administrator,
         in accordance with reasonable procedures established by the Plan
         Administrator, specifying the portion of his Compensation that is to be
         contributed to the Plan as After-Tax and/or Pre-Tax Contributions. The
         election of the Participant shall remain in effect until a new election
         from that Participant is received by the Plan Administrator.

2.       Effective as of the last business day of each Calendar Month, for each
         dollar a Participant contributes on either an after-tax basis or a
         pre-tax basis, his Employer shall contribute fifty cents (50(cent))
         into the Participant's Employer Match Contribution Account, subject to
         a maximum Employer Match Contribution of three percent (3%) of the
         Participant's Compensation for that month; provided that such Employer
         Match Contribution may, at the discretion of the Administrative
         Managers and Financial Managers, be made in the form of shares of
         Viacom Inc. Common Stock equal in value to the Employer Match
         Contribution as determined based on the closing price of Viacom Inc.
         Common Stock on the NYSE as of the last business day of such Calendar
         Month, rather than in cash, with respect to each Participant (i) who is
         not represented by a labor organization or other representative which
         is recognized by an Employer as a representative for the

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         purpose of collective bargaining, or (ii) who is represented by a labor
         organization or other representative which is recognized by an Employer
         as a representative for the purpose of collective bargaining, to the
         extent that such labor organization or other representative makes a
         request that represented Participants be eligible for Employer Match
         Contributions in the form of shares of Viacom Inc. Common Stock and the
         Administrative Managers designate such represented Participants as
         eligible for Employer Match Contributions in the form of shares of
         Viacom Inc. Common Stock.

3.       Any amounts credited to any Account for a Participant that are
         forfeited by such Participant pursuant to any provision of the Plan
         shall not be returned to the Company but shall be used to reduce the
         obligations of the Company to make Employer Match Contributions under
         the Plan.

4.       Treatment of Excess Elective Deferral Amounts. Effective January 1,
         1987, the Plan shall not incur any Excess Elective Deferrals as defined
         in section 402(g) of the Code. Notwithstanding any other provision of
         the Plan, Excess Elective Deferrals as adjusted for income or losses
         thereon shall be distributed to the Participants in accordance with
         this Article.

         a.   For purposes of this Article, the following definitions shall have
              the following meanings:

              (1)  "Elective Deferrals" for a taxable year means the sum of all
                   Employer contributions made on behalf of a Participant
                   pursuant to an election to defer under any qualified CODA as
                   described in section 401(k) of the Code, any simplified
                   employee pension cash or

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                   deferred arrangement as described in section 402(h)(1)(B) of
                   the Code, any eligible deferred compensation plan under
                   section 457 of the Code, any plan as described under section
                   501(c)(18) of the Code, and any employer contributions made
                   on behalf of a Participant for the purchase of an annuity
                   contract under section 403(b) of the Code pursuant to a
                   salary reduction agreement.

              (2)  "Excess Elective Deferrals" shall mean those Elective
                   Deferrals that are includable in a Participant's gross income
                   under section 402(g) of the Code because they exceed the
                   Dollar Limit. Excess Elective Deferrals shall be treated as
                   Annual Additions under the Plan, unless they are distributed
                   by April 15 of the year following the calendar year in which
                   they were made.

         b.   A Participant may assign to this Plan any Excess Elective
              Deferrals made during the taxable year of the Participant by
              filing a claim in writing with the Plan Administrator no later
              than March 1 following the year in which the Excess Elective
              Deferral was made. Said claim shall specify the Participant's
              Excess Elective Deferral amount for the preceding calendar year,
              and shall be accompanied by the Participant's written statement
              that if such amounts are not distributed, such Excess Elective
              Deferral amount, when added to amounts deferred under other plans
              or arrangements described in section 401(k), 408(k), 457,
              501(c)(18) or 403(b) of the Code shall exceed the Dollar Limit for
              the year in which the deferral occurred. A Participant shall be
              deemed to have given the notification described above if the
              Excess Elective Deferral results from Elective Deferrals to this
              Plan or other plans of the Employer or the Employer's Controlled
              Group.

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         c.   A Participant who has an Excess Elective Deferral during a taxable
              year may receive a corrective distribution. Such a corrective
              distribution shall be made if:

              (1)  the Participant designates the distribution as an Excess
                   Elective Deferral or is deemed to make the designation under
                   paragraph 4.b above;

              (2)  the corrective distribution is made after the date on which
                   the Plan received the Excess Elective Deferral; and

              (3)  the Plan Administrator designates the distribution as a
                   distribution of an Excess Elective Deferral.

         d.   The Excess Elective Deferral distributed to a Participant with
              respect to a calendar year shall be adjusted to reflect income or
              loss in the Participant's Pre-Tax Account for the taxable year
              allocable thereto. The income or loss allocable to such Excess
              Elective Deferral Amount shall be determined in accordance with
              section 402(g) of the Code and the regulations thereunder.

         e.   Excess Elective Deferral amounts, as adjusted for income and
              losses, shall be distributed to the Participant no later than
              April 15 of the year following the calendar year in which such
              Excess Elective Deferral was made.

5.       Actual Deferral Percentage Test. Effective January 1, 1989, the actual
         deferral percentage (ADP) for Participants who are Highly Compensated
         Employees shall not exceed the greater of a or b as follows:

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         a.   the ADP of Participants who are Non-Highly Compensated Employees
              times 1.25; or

         b.   the ADP of Participants who are Non-Highly Compensated Employees
              times 2.0, but not to exceed the ADP of Participants who are
              Non-Highly Compensated Employees by more than two (2) percentage
              points.

6.       ADP Formula.

         a.   The ADP for a specified group of Participants for a Plan Year
              shall be the average of the Actual Deferral Ratios (ADR)
              calculated separately for each Participant in such group.

              For purposes of determining the ADP of a Highly Compensated
              Employee or a Highly Compensated Employee in the group consisting
              of the ten Highly Compensated Employees paid the greatest
              Compensation during the Plan Year, the Employee's Pre-Tax
              Contributions shall include the Pre-Tax Contributions of Family
              Members; and such Family Members shall be disregarded as separate
              Employees in determining the ADP both for Participants who are
              Non-Highly Compensated Employees and for Participants who are
              Highly Compensated Employees.

              The Plan Administrator shall determine as soon as practicable
              after the end of the Plan Year whether the ADP for Highly
              Compensated Employees satisfies either of the tests contained in
              Article II.5. In the event neither test is satisfied, the Plan
              Administrator may elect either of the following:

              (1)  to recharacterize all or any portion of the Pre-Tax
                   Contributions for

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                   Highly Compensated Employees as After-Tax Contributions as
                   provided in Article II.8;

              (2)  to reduce the allowable Pre-Tax Contributions for Highly
                   Compensated Employees as provided in Article II.9; or

              (3)  to make an Additional Contribution (subject to the
                   requirements of Article II.10) for all or a portion of
                   Non-Highly Compensated Employees eligible to make
                   contributions under Article II.1. in a level dollar amount or
                   a uniform percentage of Compensation, as the Company shall
                   elect, within the time period required by any applicable law
                   or regulation.

         b.   The Plan shall take into account the ADRs of all eligible
              Employees for purposes of the ADP test. For this purpose, an
              eligible Employee is any Employee who is directly or indirectly
              eligible to make Pre-Tax Contributions under the Plan for all or a
              portion of a Plan Year, including an Employee who would be
              eligible but for his failure to make Pre-Tax Contributions and an
              Employee whose eligibility to make Pre-Tax Contributions has been
              suspended because of an election not to participate. In the case
              of an eligible Employee who makes no Pre-Tax Contributions, the
              ADR for such Employee that is to be included in determining the
              ADP is zero.

         c.   A Pre-Tax Contribution shall be taken into account under the ADP
              test for a Plan Year only if it relates to Compensation that
              either would have been received by the Employee in the Plan Year
              (but for the deferral election) or is attributable to services
              performed by the Employee in the Plan Year and

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              would have been received by the Employee within 2 1/2 months after
              the close of the Plan Year (but for the deferral election).

         d.   A Pre-Tax Contribution shall be taken into account under the ADP
              test for a Plan Year only if it is contributed to the Trust before
              the last day of the twelve-month period immediately following the
              Plan Year to which the contribution relates and is allocated
              within the Plan Year to which the contribution relates. A Pre-Tax
              Contribution is considered allocated as of a date within a Plan
              Year if the allocation is not contingent on participation or
              performance of services after such date.

         e.   The ADR and ADP shall be calculated to the nearest .01 percent.

7.       Calculations of Excess Contributions.

         a.   The amount of Pre-Tax Contributions for a Highly Compensated
              Employee in excess of that permitted under Article II.5.
              (hereinafter, Excess Contributions) shall be determined in the
              following manner. First, the ADR of the Highly Compensated
              Employee with the highest ADR is reduced to the extent necessary
              to satisfy the ADP test or cause such ADR to equal the ADR of the
              Highly Compensated Employee with the next highest ADR. This
              process is repeated until the ADP test is satisfied. The amount of
              Excess Contributions for a Highly Compensated Employee is the
              difference between the total of Pre-Tax and other contributions
              (if any) taken into account for the ADP test, and the product of
              the Employee's ADR at the time the ADP test is satisfied, as
              determined above, multiplied by the Employee's Compensation.

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         b.   In the case of a Highly Compensated Employee whose ADR is
              determined under the family aggregation rules, the amount of
              Excess Contributions shall be determined as provided in Article
              II.7.a. The Excess Contributions for the family unit are allocated
              among the Family Members in proportion to the contributions of
              each Family Member that have been combined.

         c.   The amount of Excess Contributions that are recharacterized under
              Article II.8, or distributed under Article II.9, with respect to
              an Employee for a Plan Year, shall be reduced by Excess Elective
              Deferrals previously distributed to the Employee for the
              Employee's taxable year ending with or within the Plan Year, in
              accordance with section 402(g)(2) of the Code, and Excess Elective
              Deferrals to be distributed for a taxable year will be reduced by
              Excess Contributions previously distributed or recharacterized for
              the Plan Year beginning in such taxable year.

8.       Recharacterization of Excess Contributions. Excess Contributions may be
         recharacterized as After-Tax Contributions. Recharacterized amounts
         shall be reallocated to the Participant's After-Tax Account, but shall
         continue to be fully vested and subject to distribution limitations
         that apply to Pre-Tax Accounts. In no event shall amounts be
         recharacterized by a Highly Compensated Employee to the extent such
         amount in combination with other contributions exceeds any other limit
         under the Plan. Recharacterization must occur no later than April 15 of
         the year following the Plan Year in which the original contributions
         were made.

9.       Distribution of Excess Contributions. Excess Contributions may be
         distributed to Participants on whose behalf such Excess Contributions
         were made no later than

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         the last day of the Plan Year following the Plan Year for which they
         were made. Excess Contributions that are distributed shall be adjusted
         to reflect income (or loss) allocable thereon, determined using a
         reasonable method of computing the income (or loss) allocable to Excess
         Contributions, provided that the method does not violate Code section
         401(a)(4), is used consistently for all Participants and for all
         corrective distributions under the Plan for the Plan Year, and is used
         by the Plan for allocating income (or loss) to Participant Accounts.

10.      Additional and Employer Match Contributions. Additional Contributions
         and Employer Match Contributions may be treated as Pre-Tax
         Contributions for purposes of the ADP test only if such contributions
         are non-forfeitable when made and subject to the same distribution
         restrictions that apply to elective contributions. Additional
         Contributions and Employer Match Contributions which may be treated as
         Pre-Tax Contributions must satisfy these requirements without regard to
         whether they are actually taken into account as Pre-Tax Contributions
         for purposes of satisfying the ADP tests.

         Additional Contributions and/or Employer Match Contributions may be
         treated as Pre-Tax Contributions only if the conditions described in
         section 1.401(k)-1(b)(5) of the Treasury regulations are satisfied.

         The amount of the Additional and Employer Match Contributions for
         Non-Highly Compensated Employees made under this Article II.10, the
         distribution of Excess Contributions for Highly Compensated Employees
         in accordance with Article II.9, or the recharacterized contributions
         under Article II.8, shall be such that at least one of the tests
         contained in Article II.5 is satisfied.

11.      Forfeiture of Employer Match Contributions. Any Employer Match
         Contributions

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         made on account of an Excess Contribution or an Excess Elective
         Deferral shall be forfeited and shall be used to reduce the amount of
         Employer Match Contributions required to be made by the Company for the
         year of forfeiture.

12.      Actual Contribution Percentage Test. Effective January 1, 1987, the
         actual contribution percentage (ACP) for Participants who are Highly
         Compensated Employees shall not exceed the greater of a or b as
         follows:

         a.   the ACP of Participants who are Non-Highly Compensated Employees
              times 1.25; or

         b.   the ACP of Participants who are Non-Highly Compensated Employees
              times 2.0, but not to exceed the ACP of Participants who are
              Non-Highly Compensated Employees by more than two (2) percentage
              points.

13.      ACP Formula.

         a.   The ACP for a specified group of Participants for a Plan Year
              shall be the average of the Actual Contribution Ratios (ACR)
              calculated separately for each Participant in such group.

              For purposes of determining the ACP of a Highly Compensated
              Employee or a Highly Compensated Employee in the group consisting
              of the ten Highly Compensated Employees paid the greatest
              Compensation during the Plan Year, the Employee's Employer Match
              Contribution and After-Tax Contributions shall include the
              Employer Match Contributions and After-Tax Contributions of Family
              Members; and such Family Members shall be disregarded as separate
              Employees in determining the ACP both

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              for Participants who are Non-Highly Compensated Employees and for
              Participants who are Highly Compensated Employees.

              The Plan Administrator shall determine as soon as practicable
              after the end of the Plan Year whether the ACP for Highly
              Compensated Employees satisfies either of the tests contained in
              Article II.12. In the event neither test is satisfied, the Plan
              Administrator may elect either of the following:

              (1)  to reduce the allowable Employer Match Contribution and/or
                   After-Tax Contributions for Highly Compensated Employees as
                   provided in Article II.14; or

              (2)  to make an Additional Contribution for all or a portion of
                   Non-Highly Compensated Employees eligible to make
                   contributions under Article II.1 in a level dollar amount or
                   a uniform percentage of Compensation, as the Plan
                   Administrator shall elect, within the time period required by
                   any applicable law or regulation.

         b.   The Plan shall take into account the ACRs of all eligible
              Employees for purposes of the ACP test. For this purpose, an
              eligible Employee is any Employee who is directly or indirectly
              eligible to receive an allocation of Employer Match Contributions,
              including an Employee who would be eligible but for his failure to
              make After-Tax and/or Pre-Tax Contributions and an Employee whose
              right to receive Employer Match Contributions has been suspended
              because of an election not to participate. In the case of an
              eligible Employee who receives no Employer Match Contributions,
              the ACR that is to be included in determining the ACP is zero.

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         c.   An Employer Match Contribution shall be taken into account under
              the ACP test for a Plan Year only if it is made on account of the
              eligible Employee's After-Tax and/or Pre-Tax Contributions for the
              Plan Year, contributed to the Trust before the last day of the
              twelve-month period immediately following the Plan Year to which
              the contributions relate and is allocated within the Plan Year to
              which the contributions relate. Employer Match Contributions which
              are used to meet the requirements of section 401(k)(3)(A) of the
              Code are not taken into account.

         d.   The ACR and ACP shall be calculated to the nearest .01 percent.

14.      Calculation of Excess Aggregate Contributions.

         a.   The amount of contributions for a Highly Compensated Employee in
              excess of that permitted under Article II.12 (hereinafter, Excess
              Aggregate Contributions) shall be determined in the following
              manner. First, the ACR of the Highly Compensated Employee with the
              highest ACR is reduced (first, as to After-Tax Contributions, if
              any, then as to Employer Match Contributions) to the extent
              necessary to satisfy the ACP test or cause such ACR to equal the
              ACR of the Highly Compensated Employee with the next highest ACR.

              This process is repeated until the ACP test is satisfied. The
              amount of Excess Aggregate Contribution for a Highly Compensated
              Employee is the difference between the total of Employer Match
              Contributions and other contributions taken into account for the
              ACP test, and the product of the Employee's ACR at the time the
              ACP test is satisfied, as determined above, multiplied by the
              Employee's Compensation.

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         b.   In the case of a Highly Compensated Employee whose ACR is
              determined under the family aggregation rules, the amount of
              Excess Aggregate Contributions shall be determined as provided in
              Article II.14.a. The Excess Aggregate Contributions for the family
              unit are allocated among the Family Members in proportion to the
              contributions of each Family Member that have been combined.

         c.   The amount of Excess Aggregate Contributions for a Plan Year shall
              be determined only after first determining the Excess
              Contributions that are treated as Employee After-Tax Contributions
              (if any) due to recharacterization of such contributions made to
              this Plan, or to another plan aggregated with this Plan under
              Article II.19, for the Plan Year.

15.      Distribution of Excess Aggregate Contributions. Excess Aggregate
         Contributions shall be distributed, in a manner that satisfies the
         requirements described in section 1.401(a)(4)-4 of the Treasury
         regulations (so that after correction each level of matching
         contributions will be currently and effectively available to a group of
         employees that satisfies Code section 410(b)), to Participants on whose
         behalf such Excess Aggregate Contributions were made (on the basis of
         the respective portions of such Excess Aggregate Contributions
         attributable to each Highly Compensated Employee), to the extent
         vested, no later than the last day of the Plan Year following the Plan
         Year for which they were made. Non-vested Excess Aggregate
         Contributions shall be applied as provided in Article II.17. Excess
         Aggregate Contributions shall be adjusted to reflect income (or loss)
         allocable thereon, determined using a reasonable method of computing
         the income (or loss) allocable to Excess Aggregate Contributions,
         provided that the method does not

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         violate Code section 401(a)(4), is used consistently for all
         Participants and for all corrective distributions under the Plan for
         the Plan Year, and is used by the Plan for allocating income (or loss)
         to Participant Accounts.

16.      Additional Contributions. Additional Contributions may be treated as
         Employer Match Contributions only if the conditions described in
         Treasury regulation 1.401(m)-1(b)(5) are satisfied.

         The amount of Additional Contributions for Non-Highly Compensated
         Employees made under this Article II.16, or the distribution of Excess
         Aggregate Contributions to Highly Compensated Employees under Article
         II.15 shall be such that at least one of the tests contained in Article
         II.12 are satisfied.

17.      Forfeitures. Amounts forfeited by Highly Compensated Employees due to
         the distribution of Excess Aggregate Contributions shall be treated as
         an Annual Addition under the Plan and shall be applied to reduce future
         Employer Match Contributions required to be made by the Company. No
         forfeiture arising under this Article shall be allocated to the account
         of any Highly Compensated Employee.

18.      Aggregate Limit. The sum of the ADP and ACP for Highly Compensated
         Employees, determined after any corrections required to meet the ADP
         test or ACP test, shall not exceed the Aggregate Limit as defined
         herein. If the limit is exceeded, then either the ADR or ACR, as the
         Plan Administrator shall elect, for all affected Highly Compensated
         Employees, shall be reduced in accordance with Article II.6.a or
         Article 13.a as applicable. The amounts of the reduction for each
         Highly Compensated Employee shall be treated as an Excess Contribution
         or Excess Aggregate Contribution, as appropriate. "Aggregate Limit"
         means the greater of a or b below:

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         a.   The sum of:

              (1)  One hundred twenty-five percent (125%) of the greater of the
                   ADP for eligible Non-Highly Compensated Employees or the ACP
                   for eligible Non-Highly Compensated Employees for the Plan
                   Year; and

              (2)  Two (2) plus the lesser of such ADP or ACP, but not greater
                   than two hundred percent (200%) of the lesser amount; or

         b.   The sum of:

              (1)  One hundred twenty-five percent (125%) of the lesser of the
                   ADP for the eligible Non-Highly Compensated Employees or the
                   ACP for the eligible Non-Highly Compensated Employees for the
                   Plan Year; and

              (2)  Two (2) plus the greater of such ADP or ACP, but not greater
                   than two hundred percent (200%) of the greater amount.

19.      Special Rules.

         a.   The ADR and ACR for any Participant who is a Highly Compensated
              Employee for the Plan Year and who is eligible to make Pre-Tax

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              Contributions, or to have Employer Match Contributions allocated
              to his account, or to make After-Tax Contributions, under two (2)
              or more plans that are maintained by an Employer or the Employer's
              Controlled Group shall be determined as if all such contributions
              were made under a single plan.

         b.   In the event that this Plan satisfies the requirements of sections
              410(b) and 401(a)(4) of the Code only if aggregated with one or
              more other plans, or if one or more other plans satisfy the
              requirements of sections 410(b) and 401(a)(4) of the Code only if
              aggregated with this Plan, then the contribution percentages and
              deferral percentages of Participants shall be determined as if all
              such plans were a single plan.

         c.   The determination and treatment of the contribution percentage of
              any Participant shall satisfy such other requirements as may be
              prescribed by the Secretary of the Treasury.

20.      Adjustments to Contribution Limits. Notwithstanding any other Plan
         provision, the Plan Administrator may limit the Pre-Tax Contribution
         percentage for Employees who have reached the Dollar Limit, or the
         Pre-Tax and/or After-Tax Contribution percentage(s) for all or a class
         of Highly Compensated Employees, as it determines is necessary or
         desirable to assure that the Plan satisfies the requirements of this
         Article II. To the extent no other Plan requirement is violated, that
         portion of any elected Pre-Tax Contribution percentage which is limited
         under this Article II.20 shall instead be treated as an election to
         make After-Tax Contributions.

21.      Adjustments to Contributions. A Participant may increase or decrease
         his rate of

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         After-Tax and/or Pre-Tax Contributions at any time by making a new
         election with the Plan Administrator in accordance with reasonable
         procedures established by the Plan Administrator. A Participant may
         suspend After-Tax and/or Pre-Tax Contributions at any time by providing
         notice to the Plan Administrator in accordance with reasonable
         procedures established by the Plan Administrator. A Participant may
         recommence After-Tax and/or Pre-Tax Contributions to the Plan at any
         time by making a new election with the Plan Administrator. All
         elections of adjustments to contributions shall be effective as soon as
         practicable after the election is filed with the Plan Administrator.

22.      Permitted Employer Refunds. Employer contributions hereunder shall be
         refunded to the Employer under the limited circumstances listed below:

         a.   Any contribution made by the Employer due to a mistake of fact
              shall be refunded to the Employer within one year of such
              contribution.

         b.   Employer contributions are expressly conditioned on deductibility
              under section 404 of the Code. Any contribution that is disallowed
              as a deduction shall be refunded to the Employer within one year
              of such disallowance.

         c.   Refunds of contributions due to a disallowance of deduction or
              mistake of fact shall not include earnings attributable to the
              amount being refunded due to disallowance or mistake, but losses
              thereto shall reduce the amount to be refunded.

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                                   ARTICLE III

             INVESTMENT OPTIONS AND TRANSFERS TO AND FROM THE TRUST

1.       All contributions to the Participants' Accounts shall be invested in
         one or more of the Investment Funds, which shall be designated by the
         Financial Managers, subject to the approval of the Administrative
         Managers. Investment Funds may include (but are not limited to) the
         Company Stock Fund, the Fixed Income Fund and Mutual Funds as
         designated by the Financial Managers, subject to the approval of the
         Administrative Managers. The Financial Managers, subject to the
         approval of the Administrative Managers, in their discretion, may
         change or terminate the existing Investment Funds or establish
         additional Investment Funds at any time. However, any Investment Fund
         that is not an investment company registered under the Investment
         Company Act of 1940 shall be managed by an Investment Manager appointed
         by the Financial Managers. The selection of Investment Fund choices and
         the administration of Plan investments are intended to comply with the
         requirements of section 404(c)of ERISA and the regulations thereunder.
         To the extent the requirements of section 404(c) of ERISA are
         satisfied, neither the Administrative Managers, the Financial Managers,
         the Plan Administrator, the Trustee, nor any other Plan fiduciary,
         shall be responsible for any losses resulting from a Participant's
         individual selection of Investment Fund choices.

2.       All funds of the Plan shall be invested by the Trustee in accordance
         with the provisions of the Plan and Trust Agreement.

3.       A Participant shall elect an investment mix in accordance with
         reasonable procedures established by the Plan Administrator. Effective
         October 1, 1994,

                                       21
<PAGE>

         contributions may be invested in any combination of the investment
         options available under the Plan in increments of one percent (1%). The
         Participant may change his election at any time by notifying the Plan
         Administrator, in accordance with reasonable procedures established by
         the Plan Administrator, to be effective with the first payroll
         disbursed after receipt and completion of processing by the Plan
         Administrator of such direction.

         Notwithstanding the above paragraph, Employer Match Contributions made
         in the form of Viacom Inc. Common Stock pursuant to Article II.2 shall
         be invested in the Company Stock Fund. A Participant may not elect to
         have such Employer Match Contributions, at the time contributed to the
         Plan, invested in an investment option other than the Company Stock
         Fund.

4.       The shares of Viacom Inc. Common Stock required each day for purposes
         of the Plan shall be purchased by the Trustee on the open market, from
         the Company or from such other person or persons and at such time or
         times as the Trustee may in its sole discretion determine in accordance
         with ERISA. Any shares purchased from the Company for a particular
         calendar day may be authorized and unissued shares or treasury shares,
         as the Company shall determine.

5.       A Participant other than a Terminated Participant who has received a
         Rollover Distribution from a qualified defined contribution plan or a
         distribution from an individual retirement account (as described in
         section 408(d)(3)(A) of the Code) may elect, in accordance with
         reasonable procedures established by the Plan Administrator, to roll
         over not more than the cash value of the distribution, less any amount
         attributable to the Participant's After-Tax Contributions, to his
         After-Tax Account within sixty (60) days of receipt of such
         distribution. In addition, (a) a Participant other than a Terminated
         Participant may authorize the Trustee of the

                                       22
<PAGE>

         Westinghouse Pension Plan to transfer the entire balance to the credit
         of the Participant in such plan directly to the Trust of this Plan, and
         (b) a Participant who has received a Rollover Distribution from the CBS
         Employee Investment Fund may elect, in accordance with reasonable
         procedures established by the Plan Administrator, to roll over not more
         than the cash value of the distribution, less any amount attributable
         to the Participant's After-Tax Contributions, to his After-Tax Account
         within sixty (60) days of receipt of such distribution. Effective
         October 1, 1994, the Participant may elect to invest any amount rolled
         over or transferred to this Plan in any of the investment options
         available under the Plan in increments of one percent (1%).

6.       Any Participant who ceases to be an Employee shall continue to have the
         authority to direct the investment of his Accounts in accordance with
         the provisions of Article III.7.

7.       Contributions made by or on behalf of a Participant shall be invested
         in the Investment Fund or Funds selected by the Participant until the
         effective date of a new designation which has been properly provided to
         the Plan Administrator in accordance with reasonable procedures
         established by the Plan Administrator. A designation provided by a
         Participant changing his investment options shall apply to investment
         of future deposits and/or to amounts already accumulated in his
         Accounts. A Participant may change his investment options for new
         contributions and/or change his investment selection with regard to
         amounts already accumulated in his Accounts at any time by providing
         notice to the Plan Administrator in accordance with reasonable
         procedures established by the Plan Administrator. Any changes in a
         Participant's investment mix made under this Article III.7 for new
         contributions will take effect as soon as practicable. Effective
         October 1, 1994, any changes in a Participant's investments made under

                                       23
<PAGE>

         this Article III.7 for amounts already accumulated in his Accounts will
         take effect at the end of the Trading Day on which the transaction has
         been accepted by the Plan Administrator. Such change shall be subject
         to any actions taken by the Mutual Fund sponsors based upon liquidity
         needs.

         Notwithstanding the above paragraph, to the extent that Employer Match
         Contributions are made in Viacom Inc. Common Stock pursuant to Article
         II.2, a Participant may not elect to have such Employer Match
         Contributions, at the time contributed to the Plan, invested in an
         investment option other than the Company Stock Fund. A Participant may,
         however, elect to change his investment selection for any such Employer
         Match Contributions that have already been made to his Employer Match
         Contribution Account. Such change in investment selection will not
         affect Employer Match Contributions made to the Company Stock Fund
         after the effective date of such change.

8.       In the event an Employer should sell or acquire shares of stock or
         other assets or properties of any other company which has a defined
         contribution plan, qualified under Section 401(a) of the Code, in
         effect at the time of such sale or acquisition, the Administrative
         Managers and Financial Managers may, in such manner and to such extent
         as they deem advisable, accept a trust to trust transfer of assets from
         the defined contribution plan of such company for any employees who
         will become, or will remain as, a Participant in the Westinghouse
         Savings Program, provided that the trust from which such assets are
         transferred permits the transfer to be made and the transfer will not
         jeopardize the tax exempt status of the Savings Program or the Savings
         Program trust or create adverse tax consequences for the Employer. The
         assets transferred shall be allocated to the Participant's After-Tax
         Account.

                                       24
<PAGE>

                                   ARTICLE IV

                VALUATION OF INVESTMENTS AND CREDITS TO ACCOUNTS

1.       The Value of each Participant's Accounts as of each Valuation Date
         shall be determined after reflecting any transfers, withdrawals, or
         contributions as of such date.

2.       Effective October 1, 1994, the interests of a Participant in the
         Company Stock Fund and the Fixed Income Fund shall be represented by
         Units that shall be valued and credited to each Participant's Accounts
         as follows:

         a.   Any Participants' Accounts which contained the Company Stock Fund
              and/or the Fixed Income Fund on September 30, 1994, shall be
              credited with a number of Units equivalent in Value to the Value
              of such Funds in each such Account as of September 30, 1994.

         b.   The Value of a Unit of the Company Stock Fund and the Fixed Income
              Fund within each Account of the Participant shall be determined as
              of each Valuation Date by dividing the total number of Units
              within each such fund immediately prior to the Valuation Date into
              the Value of all the assets then held by the Trustee with respect
              to such Fund.

3.       For investments in the Company Stock Fund and the Fixed Income Fund,
         the appropriate Accounts of each Participant as of each Valuation Date
         shall be credited with that number of Units (calculated to the fourth
         decimal place) determined by dividing (a) contributions made and
         amounts transferred into each of the funds by or on behalf of such
         Participant by (b) the Value of a Unit of such fund as of the Valuation
         Date.

                                       25
<PAGE>

4.       For investments in each of the Mutual Funds, the appropriate Accounts
         of each Participant as of each Valuation Date shall be credited with
         that number of whole and fractional shares of the Mutual Fund
         (calculated to the fourth decimal place) determined by dividing (a)
         contributions, dividends and amounts transferred into each of the funds
         by (b) the closing share price of the Mutual Fund as of the Valuation
         Date.

5.       Each Participant shall be furnished with a statement of his Accounts
         under the Plan, as required by section 404(c) of ERISA and the
         regulations thereunder, and any other applicable provision of ERISA.

                                       26
<PAGE>

                                    ARTICLE V

                               VESTING OF ACCOUNTS

1.       A Participant shall at all times be one hundred percent (100%) vested
         in, and have a nonforfeitable right to, his After-Tax and Pre-Tax
         Accounts.

2.       A Participant who had an Account in the Plan on December 31, 1988 and
         any Employee who accrued Eligibility Service with an Employer any time
         prior to January 1, 1989 shall be vested in, and have a nonforfeitable
         right to, his Employer Match Contribution Account effective January 1,
         1989. A Participant who began accruing Eligibility Service on or after
         January 1, 1989 shall not be vested in any portion of his Employer
         Match Contribution Account until he accrues five (5) years of
         Eligibility Service, at which time he shall become one hundred percent
         (100%) vested in, and have a nonforfeitable right to, his Employer
         Match Contribution Account. Notwithstanding the foregoing, the Employer
         Match Contribution Account shall become one hundred percent (100%)
         vested upon the retirement or death of a Participant. In addition, the
         Employer Match Contribution of a Participant who is a "Business
         Employee" (as that term is defined in Section 1.1 of an Asset Purchase
         Agreement dated November 14, 1997 between the Company and Siemens Power
         Generation Corporation ("Purchase Agreement")) or are, pursuant to the
         Purchase Agreement, deemed to be employees of the Purchaser as of the
         Closing Date shall become one hundred percent (100%) vested on the
         Closing Date under the Purchase Agreement; provided that amounts vested
         under the terms of this sentence (and are not otherwise vested) shall
         not be available for withdrawal under the terms of Article VII.4 until
         such time as such amounts are transferred to a Code section 401(k) plan
         maintained by Siemens Power Generation Corporation pursuant to the
         terms of the Purchase Agreement. In addition, the Employer Match
         Contribution of a

                                       27
<PAGE>

         Participant who is a "Continued Employee" (as that term is defined in
         Section 1.1 of the Asset Purchase Agreement dated May 22, 1998 between
         the Company and Emerson Electric Co. ("Purchase Agreement")) shall
         become one hundred percent (100%) vested on the date that the assets
         are transferred to the Purchaser's 401(k) plan pursuant to the Purchase
         Agreement. In addition, the Employer Match Contribution of a
         Participant who is a "Business Employee" (as that term is defined in
         Section 1.1 of Asset Purchase Agreements dated as of June 25, 1998
         between the Company and WGNH Acquisition, LLC ("Purchase Agreements"))
         or, pursuant to the Purchase Agreements, deemed to be an employee of
         the Purchaser as of April 1, 1999 shall become one hundred percent
         (100%) vested on the date of the transfer of account balances to the
         Purchaser's plan under the Purchase Agreements. In addition, the
         Employer Match Contribution of a Participant who is a "Continued
         Employee" (as that term is defined in Section 1.1 of the Asset Purchase
         Agreement dated April 28, 1999 between the Company and Bechtel
         National, Inc. ("Purchase Agreement")) shall become one hundred percent
         (100%) vested on the date that the assets are transferred to the
         Purchaser's 401(k) plan pursuant to the Purchase Agreement.

3.       If a Participant terminates employment prior to becoming a Vested
         Participant, the current value of his Employer Match Contribution
         Account will be forfeited. If the Terminated Participant is
         subsequently re-employed by an Employer or an Affiliated Entity, the
         dollar value of the forfeited amount shall be restored to his Employer
         Match Contribution Account without adjustment for gains or losses since
         the date of forfeiture.

4.       Any forfeited amounts that are restored pursuant to Article V.3 shall
         be invested in accordance with the investment election in effect at the
         time of restoration. In

                                       28
<PAGE>

         the event the Participant does not have a current investment election
         in effect, the restored amount will be invested in the Fixed Income
         Fund.

                                       29
<PAGE>

                                   ARTICLE VI

         DISTRIBUTION OF ACCOUNTS UPON TERMINATION, RETIREMENT, OR DEATH

1.       In the event a Participant becomes a Terminated Participant, the
         following shall apply:

         a.   If the total value of vested Accounts is $3,500 or less, a total
              distribution shall be made automatically to a Terminated
              Participant. A Terminated Participant shall be entitled to receive
              cash in lieu of Viacom Inc. Common Stock. Distributions of all
              other Investment Funds shall be made in cash. If no direction is
              provided to the Plan Administrator within a reasonable time on or
              after termination of employment, amounts invested in the Company
              Stock Fund, if any, shall be paid in Viacom Inc. Common Stock.

         b.   If the total value of vested Accounts exceeds $3,500, the
              Terminated Participant may elect a total distribution (in
              Securities and/or cash) or may elect to leave his vested Accounts
              in the Plan. If he elects to leave his vested Accounts in the
              Plan, all of his Accounts shall continue to be invested as they
              were immediately prior to his becoming a Terminated Participant,
              unless he elects to transfer such investments to any other
              available investment option in the Plan. Amounts that remain in
              the Plan must be withdrawn (in one lump sum only) by the
              Terminated Participant's Normal Retirement Date; no partial
              distributions shall be permitted. Participants will be entitled to
              receive an amount equivalent to the value of the vested Accounts
              on the first Valuation Date after the distribution has been
              approved by the Plan Administrator. If no direction is provided by
              the Participant on or prior to the Terminated Participant's Normal
              Retirement

                                       30
<PAGE>

              Date, amounts invested in the Company Stock Fund shall be paid in
              Viacom Inc. Common Stock. Distributions of all other Investment
              Funds shall be made in cash.

2.       In the event a Participant becomes a Retired Participant, the following
         shall apply:

         a.   The Retired Participant may elect an immediate distribution of all
              of his Accounts in the form of Securities and/or cash. If he
              elects an immediate distribution, such Accounts shall be
              distributed to him as soon as practicable after his retirement. A
              Retired Participant shall be entitled to receive cash in lieu of
              Viacom Inc. Common Stock. Distributions of all other Investment
              Funds shall be made in cash.

         b.   The Retired Participant may elect to have his Accounts distributed
              in accordance with one of the following options:

              (1)  He may elect to receive monthly or annual installments, the
                   amount of which is determined by the Retired Participant at
                   retirement. Installments will begin as soon as practicable
                   after the request is received from the Retired Participant
                   and approved by the Plan Administrator. Each subsequent
                   annual installment will be processed as soon as practicable
                   on the annual anniversary of the first payment. Monthly
                   installments shall be processed as of the last Valuation Date
                   in each month.

                   Effective October 1, 1994, all payments under this option
                   will be in cash and will be derived from the available
                   Accounts of the Retired Participant based upon the following
                   hierarchy:

                                       31
<PAGE>

                   (i)   After-Tax Account (including rollover amounts);

                   (ii)  Employer Match Contribution Account;

                   (iii) Pre-Tax Account.

                   Within each Account, the payments will be prorated across all
                   Investment Funds in that Account.

                   A Retired Participant who elects to receive monthly or annual
                   installments pursuant to this Article VI.2.b(1) may cancel or
                   change such election at any time. He may also elect a partial
                   distribution as described in Article VI.2.b(2).

                   Notwithstanding the above, payments under this option must be
                   at least equivalent to the amount required under section
                   401(a)(9) of the Code and regulations issued thereunder as
                   described in Paragraph 6 of this Article VI.

              (2)  He may elect to defer receipt of his Accounts until such time
                   as he instructs the Plan Administrator that he wishes to
                   receive his Accounts in whole or in part. In no event,
                   however, may he defer receipt of his first payment beyond
                   April 1 following the calendar year in which he attains age
                   70-1/2, and such first payment and all subsequent payments
                   must be at least equal to the amounts required under section
                   401(a)(9) of the Code and regulations issued thereunder as
                   described in Paragraph 6 of this Article VI. A Retired
                   Participant may request a distribution at any time. Effective
                   October 1, 1994, the distribution may be either (a) prorated
                   across all

                                       32
<PAGE>

                   Investment Funds in which the Retired Participant is invested
                   or (b) directed against specific funds based upon the
                   Participant's request. Distributions from the Company Stock
                   Fund may be either in cash or Securities at the election of
                   the Participant. All other Investment Funds shall be
                   distributed in cash. The distribution shall be derived from
                   the available Accounts of the Retired Participant based upon
                   the following hierarchy:

                   (i)   After-Tax Account (including rollover amounts);

                   (ii)  Employer Match Contribution Account;

                   (iii) Pre-Tax Account.

3.       A Participant who becomes a Totally Disabled Participant as defined in
         Article XVII.57 shall be treated for the purpose of this Article VI as
         though he were retired on the date he is declared a Totally Disabled
         Participant, and he shall be entitled to the same options set forth
         above in Paragraph 2 of this Article VI.

4.       In the event of the death of a Participant who is not a Terminated
         Participant, the following shall apply:

         a.   If the total value of Accounts is $3,500 or less, a total
              distribution shall be made automatically to the designated
              Beneficiary.

         b.   If the total value of Accounts exceeds $3,500 and the designated
              Beneficiary is not the Surviving Spouse, a total distribution
              shall be made automatically to the designated Beneficiary.

         c.   If the total value of Accounts exceeds $3,500 and the designated
              Beneficiary is the Surviving Spouse, the Surviving Spouse may
              elect a total

                                       33
<PAGE>

              distribution or may elect to leave his Accounts in the Plan. If
              the Surviving Spouse elects to leave his Accounts in the Plan, he
              shall be treated as a Retired Participant and the investment and
              payment options which are available to Retired Participants shall
              be available to the Surviving Spouse.

         d.   Upon direction to the Plan Administrator by the Beneficiary, cash
              shall be paid in lieu of Viacom Inc. Common Stock. Distributions
              of all other Investment Funds shall be made in cash.

5.       In the event of the death of a Terminated Participant, a total
         distribution shall be made automatically to the designated Beneficiary.
         Upon direction to the Plan Administrator by the Beneficiary, cash shall
         be paid in lieu of Viacom Inc. Common Stock. Distributions of all other
         Investment Funds shall be made in cash.

6.       In no event shall a Participant (or Beneficiary, if applicable) receive
         less than the minimum annual payment as required by section 401(a)(9)
         of the Code and regulations thereunder, including regulation section
         1.401(a)(9)-2. The provisions of this Paragraph 6 override any
         distribution options in the Plan which are inconsistent with section
         401(a)(9) of the Code. The first minimum payment for a Participant who
         has attained age 70 1/2 shall be determined by dividing (i) the
         Participant's total Account balance at the beginning of the year in
         which he attains age 70 1/2 by (ii) the joint life expectancy factor
         set forth in the Code for the lives of that Participant and his
         designated Beneficiary, if any. The first minimum payment must be made
         by April 1 of the year following the year during which the Participant
         attains age 70-1/2. The second minimum payment uses the Participant's
         total Account balance at the end of the year during which he attains
         age 70-1/2 (reduced by the first payment if such payment is not made
         during the

                                       34
<PAGE>

         year in which he attains age 70-1/2) and the original joint life
         expectancy factor decreased by one (1) year. This second minimum
         payment is due by the end of the year following the year during which
         he attains age 70-1/2. All subsequent minimum payments are required to
         be made by the end of each year using the total balance in the
         Participant's Accounts at the end of the previous year and the previous
         joint life expectancy factor decreased by one (1) year.

         If the Participant dies before the time when distributions are
         considered to have commenced in accordance with Code section 401(a)(9),
         distributions will satisfy Code section 401(a)(9) as follows: (i) any
         remaining portion of the Participant's Accounts that is not payable to
         a Beneficiary will be distributed within five years after the
         Participant's death; and (ii) any portion of the Participant's interest
         that is payable to a Beneficiary will be distributed either (a) if the
         Beneficiary elects, within five years after the Participant's death, or
         (b) over the life of the Beneficiary or over a period certain not
         extending beyond the life expectancy of the Beneficiary, commencing no
         later than the end of the calendar year following the calendar year in
         which the Participant died (or, if the Beneficiary is the Participant's
         surviving spouse, commencing not later than the end of the calendar
         year following the calendar year in which the Participant would have
         attained age 70-1/2). If the Participant dies after the time when
         distributions are considered to have commenced in accordance with Code
         section 401(a)(9), any remaining portion of the Participant's Accounts
         will be distributed at least as rapidly as under the distribution
         method being used under Code section 401(a)(9)(A)(ii) as of the
         Participant's death.

7.       Unless the Alternate Payee is an Employee or a Retired Participant, any
         amounts segregated under this Plan for the benefit of the Alternate
         Payee pursuant to a QDRO shall be distributed to the Alternate Payee as
         soon as practicable following

                                       35
<PAGE>

         the qualification of the QDRO by the Plan Administrator.

8.       Each Participant shall keep the Plan Administrator informed of his
         current address and the current address of his Beneficiary(ies).
         Neither the Plan Administrator, the Company, the Administrative
         Managers, the Financial Managers nor the Trustee shall be obligated to
         search for the whereabouts of any person. If the location of a
         Participant is not made known to the Plan Administrator and after
         diligent efforts to ascertain the whereabouts of the Participant or
         Beneficiary(ies) prove unsuccessful, the balance in the Participant's
         Accounts shall be deemed a forfeiture and shall be used to reduce the
         amount of Employer Match Contributions required to be made by the
         Employer to the Plan for the Plan Year next following the year in which
         the forfeiture occurs; provided, however, that in the event that the
         Participant or a Beneficiary makes a claim for any amount that has been
         forfeited, the Accounts which have been forfeited shall be reinstated
         without adjustment for gains or losses.

9.       Subject to the provisions of Article VI.6, unless otherwise elected by
         a Participant, distribution of Plan benefits will begin not later than
         sixty (60) days after the close of the Plan Year in which the latest of
         the following occurs:

         a.   the Participant attains age 65;

         b.   the 10th anniversary of the date the Participant commenced
              participation in the Plan; or

         c.   the date the Participant terminates service with an Employer.

10.      Rollovers Out of the Plan. Notwithstanding any provision of the Plan to
         the

                                       36
<PAGE>

         contrary that would otherwise limit a Distributee's election under this
         Article, a "Distributee" (as defined in Article VI.11) may elect, at
         the time and in the manner prescribed by the Plan Administrator, to
         have any portion of an "Eligible Rollover Distribution" (as defined in
         Article VI.12) paid directly to an "Eligible Retirement Plan" (as
         defined in Article VI.13) specified by the Distributee in a "Direct
         Rollover" (as defined in Article VI.14).

11.      Distributee. A Distributee includes an Employee or former Employee. In
         addition, the Employee's or former Employee's Surviving Spouse and the
         Employee's or former Employee's spouse or former spouse who is the
         Alternate Payee under a QDRO, as defined in section 414(p) of the Code,
         are Distributees with regard to the interest of the spouse or former
         spouse.

12.      Eligible Rollover Distribution. An Eligible Rollover Distribution is
         any distribution of all or any portion of the balance to the credit of
         the Distributee, except that an Eligible Rollover Distribution does not
         include: any distribution that is one of a series of substantially
         equal periodic payments (not less frequently than annually) made for
         the life (or life expectancy) of the Distributee or the joint lives (or
         joint life expectancies) of the Distributee and the Distributee's
         designated Beneficiary, or for a specified period of ten (10) years or
         more; any distribution to the extent such distribution is required
         under section 401(a)(9) of the Code; and the portion of any
         distribution that is not includable in gross income (determined without
         regard to the exclusion for net unrealized appreciation with respect to
         employer securities).

13.      Eligible Retirement Plan. An Eligible Retirement Plan is an individual
         retirement account described in section 408(a) of the Code, an
         individual retirement annuity described in section 408(b) of the Code,
         an annuity plan described in section 403(a) of the Code, or a qualified
         trust described in section 401(a) of the Code,

                                       37
<PAGE>

         that accepts the Distributee's Eligible Rollover Distribution. However,
         in the case of an Eligible Rollover Distribution to the Surviving
         Spouse, an Eligible Retirement Plan is an individual retirement account
         or individual retirement annuity.

14.      Direct Rollover. A Direct Rollover is a payment by the Plan to the
         Eligible Retirement Plan specified by the Distributee.

15.      A Terminated Participant or a Retired Participant may authorize the
         Trustee of this Plan to transfer the entire balance to the credit of
         such Participant from the Trust of this Plan to the trust of any other
         qualified plan which permits such transfers. Any transfer would be in a
         form acceptable to the plan to which such distribution is being
         transferred subject to the terms of this Plan.

                                       38
<PAGE>

                                   ARTICLE VII

                             IN-SERVICE WITHDRAWALS

1.       A Vested Participant shall be permitted to make a withdrawal for any
         reason from his After-Tax Account. A Non-Vested Participant shall be
         permitted to make a withdrawal for any reason from that portion of his
         After-Tax Account which represents contributions that were not matched
         by contributions in the Employer Match Contribution Account. A
         Non-Vested Participant shall be permitted to make a withdrawal from
         that portion of his After-Tax Account which represents contributions
         that were matched by contributions in the Employer Match Contribution
         Account only in the case of a hardship as defined in Paragraph 2 of
         this Article VII. This hardship withdrawal is available to a Non-Vested
         Participant only after he has withdrawn the total amount available
         under the terms of this Article VII.

2.       A Non-Vested Participant shall be permitted to make a withdrawal from
         his Pre-Tax Account only in the case of a hardship. A Vested
         Participant shall be permitted to make a withdrawal for any reason from
         his Pre-Tax Account upon the attainment of age 59 1/2. A Vested
         Participant shall be permitted to make a withdrawal from his Pre-Tax
         Account before attaining age 59 1/2 only in the case of hardship.
         Hardship withdrawals from the Pre-Tax Account are limited to the amount
         contributed by the Participant to the Pre-Tax Account or the value of
         the Account, whichever is less. The following situations are considered
         to constitute a hardship for purposes of this Plan:

         a.   medical expenses (described in section 213(d) of the Code)
              incurred by the Participant, his spouse, his children, or his
              dependents;

                                       39
<PAGE>

         b.   purchase of a principal residence of the Participant (excluding
              mortgage payments);

         c.   payment of tuition for the next twelve (12) months of
              post-secondary education for the Participant, his spouse, his
              children, or his dependents;

         d.   the need to prevent eviction of the Participant from his principal
              residence or foreclosure on the mortgage of the Participant's
              principal residence; or

         e.   an immediate and heavy financial need as determined in a uniform
              and nondiscriminatory manner by the Plan Administrator based upon
              the facts and circumstances of a particular situation.

3.       Each time a Participant applies for a hardship withdrawal, he must
         submit documentation to substantiate the withdrawal as required by the
         Plan Administrator. A hardship withdrawal shall not be permitted from
         the Pre-Tax Account and/or the After-Tax Account (matched portion) if
         the Participant has other resources available to meet the financial
         need. In order to qualify for a hardship withdrawal from his Pre-Tax
         Account and/or the After-Tax Account (matched portion), a Participant
         must withdraw the total amount available for withdrawal absent hardship
         from his After-Tax Account and Employer Match Contribution Account and
         submit a statement that acknowledges that his situation cannot be
         relieved by any of the following:

         a.   the proceeds from an insurance policy;

         b.   the reasonable liquidation of the Participant's assets;

                                       40
<PAGE>

         c.   the discontinuance of the Participant's contributions under the
              Plan; or

         d.   a loan from his Pre-Tax Account, a distribution or loan from any
              other plan, or a commercial loan.

         If a loan is available from this Plan in the amount that would satisfy
         the hardship request, a Pre-Tax Account hardship withdrawal will not be
         permitted.

4.       A Vested Participant shall be permitted to make a withdrawal for any
         reason from his Employer Match Contribution Account. A Non-Vested
         Participant shall not be permitted to make a withdrawal from his
         Employer Match Contribution Account.

5.       To the extent permitted in Paragraphs 1, 2, 3 and 4 of this Article
         VII, in-service withdrawals will be permitted at any time. A request
         for an in-service withdrawal must be made to the Plan Administrator.
         Effective October 1, 1994, all withdrawals, with the exception of
         hardship withdrawals, may be either (a) prorated across all Investments
         Funds in which the Participant is invested or (b) directed against
         specific Funds based upon the Participant's request. The Participant
         may elect to receive Viacom Inc. Common Stock in the form of cash or
         Securities. Distributions of all other Investment Funds shall be made
         in cash. All non-hardship withdrawals will be derived from the
         available Accounts of each Participant based upon the following
         hierarchy:

         a.   Vested Participants:

              (1)  After-Tax Account (including rollover amounts);

              (2)  Employer Match Contribution Account;

              (3)  Pre-Tax Account.

         b.   Non-Vested Participants:

                                       41
<PAGE>

              (1)  Unmatched After-Tax Account (including rollover amounts).

              Hardship withdrawals will be derived from the Account from which
              the hardship is being taken and will be prorated across all
              Investment Funds in which the Participant is invested in that
              Account. Hardship withdrawals shall be paid in cash only.

                                       42
<PAGE>

                                  ARTICLE VIII

                                      LOANS

A Participant, other than a Terminated Participant, a Retired Participant, a
Totally Disabled Participant or a Surviving Spouse, may request a loan from his
Accounts in the Plan (excluding the Employer Match Contribution Account if he is
a Non-Vested Participant) in accordance with the following:

a.       Loans must be requested in multiples of $100 with a minimum amount of
         $1,000. The maximum loan amount is limited by law to be fifty percent
         (50%) of the vested balance in his Accounts, with an overall maximum of
         $50,000 reduced by the highest outstanding loan balance during the
         preceding twelve (12) months. If a Participant requests a loan that
         exceeds the balance in his available Accounts, the loan will be issued
         for the maximum amount available.

b.       The Plan Administrator shall determine whether the application for a
         loan is to be approved. All applications for loans shall be evaluated
         in a uniform and nondiscriminatory manner. A Participant who takes a
         loan from the Plan shall be subject to, and will be required to comply
         with the specific terms and conditions of any loans made under the
         Plan, as established by the Plan Administrator.

c.       To the extent permitted in this Article VIII, a Participant will be
         permitted to have up to two (2) outstanding loans at any given time.
         Loans may be either (i) prorated across all Investment Funds in which
         the Participant is invested or (ii) directed against specific Funds
         based upon the Participant's request. All loans will be derived from
         the available Accounts of each

                                       43
<PAGE>

         Participant based upon the following hierarchy:

              (1)  Vested Participants:

                   (i)   Pre-Tax Account;

                   (ii)  Employer Match Account;

                   (iii) After-Tax Account (including rollover amounts).

              (2)  Non-Vested Participants:

                   (i)   Pre-Tax Account;

                   (ii)  After-Tax Account (including rollover amounts).

d.       Loans shall be made to the Participant in cash and shall be derived
         from the Participant's Investment Funds based upon the Value as of the
         first Valuation Date after the loan has been approved by the Plan
         Administrator.

e.       Loan repayments shall be made by payroll deductions. The Participant
         may elect repayment periods of six (6) to sixty (60) months in
         increments of six (6) months. At any time prior to the due date of the
         final loan payment, the Participant may elect to partially repay the
         loan or make repayment in full. During the repayment period, loan
         repayments shall be allocated to the Accounts of Participants in
         reverse order from which the loan was derived. Repayments shall be
         invested in the investment options in effect for current contributions
         at the time the repayments are made. In the event the Participant does
         not have a current election in effect for either his Pre-Tax
         Contributions or his After-Tax Contributions, the current election in
         effect

                                       44
<PAGE>

         for his Employer Match Contribution Account shall be used. If a current
         election does not exist for his Employer Match Contribution Account,
         then the repayments shall be invested in the Fixed Income Fund.
         Repayments to the Company Stock Fund and the Fixed Income Fund shall
         purchase Units based upon the Value of each Unit on the Valuation Date
         in which the Accounts of Participants are credited. Repayments to each
         of the Mutual Funds will be credited with shares based upon the closing
         price of the Mutual Fund on the Valuation Date in which the Accounts of
         Participants are credited.

f.       For each Calendar Month, the interest rate to be charged for the term
         of the loans initiated in the Calendar Month shall be the Bankers Trust
         prime interest rate at the close of business on the last business day
         of the preceding Calendar Month plus one percent (1%).

g.       A Participant shall be required to continue to meet his loan repayment
         obligation for any period during which he is not receiving pay due to
         disability, layoff, furlough or leave of absence. In such event, the
         Participant shall be required to make his scheduled loan repayments by
         check or money order. Retired Participants and Totally Disabled
         Participants may elect to continue to make repayments by check or money
         order. A Terminated Participant or Surviving Spouse may repay his total
         outstanding loan balance in a single payment within sixty (60) days of
         his termination only if the total value of his vested Accounts plus his
         outstanding loan balance exceed $3,500. If such a Terminated
         Participant or Surviving Spouse does not repay the loan within 60 days
         after termination, the outstanding loan balance will be treated as a
         distribution.

                                       45
<PAGE>

h.       Any loans made, renewed, renegotiated, modified, or extended on or
         after October 1, 1994 shall be subject to the provisions of this
         Article VIII. All loans previously made shall be subject to the rules
         in effect under the Plan at the time the loan was made.

Notwithstanding any other provisions of this Article VIII, effective at the
beginning of the day (00:00:00 a.m.) on January 1, 2000, no individual shall be
entitled to obtain a new loan from the Plan. In addition, effective as of the
same time, repayment of any outstanding loan shall be made by personal check,
and not by payroll deductions, in accordance with procedures established by the
Plan Administrator.

                                       46
<PAGE>

                                   ARTICLE IX

                           DESIGNATION OF BENEFICIARY

1.       Each Participant shall file with the Plan Administrator a written
         designation of Beneficiary which shall be effective when received by
         the Plan Administrator. A Beneficiary designation may be changed by the
         Participant at any time upon written notice to the Plan Administrator,
         subject to the rules below for married Participants.

2.       The Beneficiary of a married Participant must be the Participant's
         spouse unless the Participant's spouse has given written consent to the
         designation of some other person or persons as a Beneficiary. Such
         consent must be witnessed by a notary public. Notwithstanding the
         foregoing, if a Participant establishes to the satisfaction of the Plan
         Administrator that a written consent cannot be obtained because the
         spouse cannot be located, or because of such other circumstances as may
         be permitted by law, spousal consent shall not be required. Any consent
         (or establishment that consent is not required) necessary under this
         provision will be valid only with respect to such spouse, but may not
         be revoked by such spouse. A revocation of a prior waiver may be made
         by a Participant without the consent of the spouse at any time before
         the Participant's retirement date. The number of revocations by a
         Participant shall not be limited. Any new waiver or change of
         Beneficiary will require a new spousal consent.

3.       An unmarried Participant may designate any person or persons as a
         Beneficiary without restriction. However, an unmarried Participant who
         later marries must at that time obtain spousal consent (as described in
         Paragraph 2) in order for the Participant's existing Beneficiary
         designation to remain valid. If a divorced Participant later remarries,
         the Participant must obtain the consent of the

                                       47
<PAGE>

         Participant's new spouse to the Beneficiary designation, even if the
         Participant obtained the consent of the Participant's former spouse to
         the Beneficiary designation.

4.       In the absence of spousal consent to the designation of some other
         person or persons as a Beneficiary, the Participant's interest in the
         Plan shall be distributed to the Surviving Spouse at the time of such
         Participant's death in accordance with the provisions of Paragraphs 4
         or 5 of Article VI. Notwithstanding the fact that a Participant has
         obtained spousal consent to the designation of some other person or
         persons as a Beneficiary, if the validly designated Beneficiary is not
         living at the time of such Participant's death, or if such designation
         is not effective for any reason, then the death benefit shall be
         payable to the deceased Participant's Spouse. If there is no Surviving
         Spouse, distribution shall be made to the legal representative of the
         Participant.

5.       No Beneficiary shall, prior to the death of the Participant by whom he
         has been designated, acquire any interest in the Participant's Accounts
         in the Plan or in the assets of the Trust.

                                       48
<PAGE>

                                    ARTICLE X

                                 VOTING OF STOCK

1.       Prior to each meeting of stockholders of Viacom, each Participant will
         be furnished any proxy material relating to such meeting, together with
         a form to be sent to the Trustee on which may be set forth the
         Participant's instructions as to the manner of voting the shares of
         Viacom Inc. Common Stock then held by the Trustee under the Plan to the
         extent of his proportionate interest therein. Upon receipt of such
         instructions, the Trustee shall vote such shares in accordance
         therewith.

2.       With respect to shares for which the Trustee receives no Participant
         instructions, the Trustee shall not vote such shares.

                                       49
<PAGE>

                                   ARTICLE XI

                                  TENDER OFFERS

As soon as practicable after the commencement of a tender offer or exchange
offer ("Offer") for shares of Viacom Inc. Common Stock, Viacom shall use
reasonable best efforts to cause each Participant, whose Participant's Account
has credited to it a proportionate share of the Viacom Inc. Common Stock in the
Trust, to be advised in writing of the terms of the Offer, together with forms
by which the Participant may instruct the Trustee, or revoke such instruction,
to tender his proportionate shares credited to the Trust, to the extent
permitted under the terms of any such Offer. The Trustee shall follow the
directions of each Participant but the Trustee shall not tender such
proportionate share of shares for which no instructions are received. The number
of shares of Viacom Inc. Common Stock with respect to which a Participant may
provide instructions shall be the total number of shares of Viacom Inc. Common
Stock credited to the Trust, whether or not the shares are vested, as of the
last day of the month preceding the month during which the Offer commenced or
such other date which may be designated by Viacom, in its sole discretion, as it
deems appropriate for reasons of administrative convenience. The giving of the
instructions to the Trustee to tender shares and the tender thereof shall not be
deemed a withdrawal or suspension from the Trust or a forfeiture of any portion
of the Participant's interest in the Trust. Any securities received by the
Trustee as a result of a tender of shares of Viacom Inc. Common Stock hereunder
shall be held, and any cash so received shall be invested in short-term
investments, for the account of each Participant with respect to whom shares of
Viacom Inc. Common Stock were tendered pending any reinvestment by the Trustee,
as it may deem appropriate, consistent with the purposes of the Plan or in any
investment option of the Plan as the Participant may direct.

                                       50
<PAGE>

                                   ARTICLE XII

                           EFFECTIVE DATE OF THE PLAN

         Effective on January 1, 1994, the Westinghouse Personal Savings Plan
and the Westinghouse Personal Investment Plan were merged into one plan, the
Westinghouse Savings program.

         The Westinghouse Personal Savings Plan and the Westinghouse Personal
Investment Plan, having first become effective on July 3, 1967, and having
thereafter been amended from time to time, are hereby again amended and
restated, subject to the approval of the Board and to compliance with such laws
and other governmental regulations and receipt of such rulings as Viacom shall
deem necessary or advisable with respect to the Plans and the Trust. Except as
otherwise indicated, all amendments become effective January 1, 1994. To the
extent an effective date other than January 1, 1994 is indicated, prior versions
of the Plans should be consulted for the application of specific provisions.
Additionally, prior versions of the Plans apply to any Participant who received
his distribution on or before December 31, 1993. This restated and amended Plan
is conditioned upon and subject to obtaining and retaining such approval of the
Commissioner of Internal Revenue as may be necessary to establish the
deductibility for income tax purposes of any and all contributions hereunder,
other than Employee After-Tax Contributions.

                                       51
<PAGE>

                                  ARTICLE XIII

                      TERMINATION OR SUSPENSION OF THE PLAN

1.       Viacom, acting by written resolution of the Board, may at any time, and
         from time to time amend, in whole or in part, any and all of the
         provisions of the Plan, suspend the Plan or terminate the Plan. The
         Administrative Managers and the Financial Managers may also adopt
         certain Plan amendments in accordance with Article XV.2 and Article
         XV.3. Notwithstanding the above, no amendment, suspension or
         termination shall adversely affect any rights of a Participant to
         amounts credited to his Accounts prior to the date of amendment,
         suspension or termination. Furthermore, if the vesting schedule of the
         Plan is amended, in the case of an Employee who is a Participant as of
         the later of the date such amendment is adopted or the date it becomes
         effective, the nonforfeitable percentage (determined as of such date)
         of such Employee's Employer Match Contribution Account will not be less
         than the percentage computed under the Plan without regard to such
         amendment.

2.       In the event of the termination or partial termination of the Plan or
         upon complete discontinuation of contributions to the Plan, there shall
         automatically vest in each Participant affected by such termination or
         partial termination all rights to the entire amount credited to his
         Employer Match Contribution Account, and all amounts then credited to
         all Accounts for each Participant affected by such termination or
         partial termination shall be distributed to him in accordance with
         ERISA and the Code.

3.       If the Plan's vesting schedule is amended, or the Plan is amended in
         any way that directly or indirectly affects the computation of the
         nonforfeitable percentage of Participants' Employer Match Contribution
         Accounts, or if the Plan is deemed

                                       52
<PAGE>

         amended by an automatic change to or from a top-heavy vesting schedule,
         each Participant with at least 3 years of Eligibility Service may
         elect, within a reasonable period after the adoption of the amendment
         or change, to have the nonforfeitable percentage computed without
         regard to such amendment or change.

                                       53
<PAGE>

                                   ARTICLE XIV

                                     TRUSTEE

1.       The Board on behalf of Viacom shall appoint one or more individuals or
         corporations to act as Trustee under the Plan and may at any time
         remove any Trustee and appoint a successor Trustee.

2.       The Company and the Trustee shall enter into a trust agreement
         providing for the Trust. The Company may also from time to time enter
         into such further agreements with the Trustee or other parties, make
         such amendments to such trust agreement or further agreements, and take
         such other steps and execute such other instruments as it, in its sole
         discretion, may deem necessary or desirable to carry the Plan into
         effect or to facilitate its administration.

                                       54
<PAGE>

                                   ARTICLE XV

                                 ADMINISTRATION

1.       Viacom.

              Viacom is the sponsor and "named fiduciary" of the Plan within the
              meaning of section 402(a)(2) of ERISA. Viacom has all powers and
              responsibilities not otherwise assigned to the Trustee or the
              Investment Manager(s).

2.       Administrative Managers.

              Acting on behalf of Viacom, and subject to the terms of the Plan,
              the Trust Agreement and applicable resolutions of the Board, the
              Administrative Managers have full and absolute discretion and
              authority to control and manage the operation and administration
              of the Plan, and to interpret and apply the terms of the Plan and
              the Trust Agreement. This full and absolute discretion and
              authority includes, but is not limited to, the power to:

              a.   interpret, construe, and apply the provisions of the Plan and
                   Trust Agreement, and any construction adopted by the
                   Administrative Managers in good faith shall be final and
                   binding;

              b.   adopt Plan amendments that (1) are required by ERISA or other
                   applicable law or regulation governing qualification of
                   employee benefit plans, or are necessary for Plan
                   administration, and which do not materially increase costs to
                   the Plan or Viacom, (2) implement special rules in Article
                   XVI.5 for acquisitions, sales, and other dispositions, or (3)
                   clarify ambiguous or unclear Plan provisions; provided that
                   such amendments will be made in writing, will be

                                       55
<PAGE>

                   made according to procedures established by the
                   Administrative Managers, and, with respect to amendments made
                   pursuant to paragraphs (1) and (2) of this Article XV.2.b,
                   will be subject to the approval of the Financial Managers;

              c.   review appeals from the denial of benefits.

              The Administrative Managers may employ, appoint, and dismiss
              advisors as the Administrative Managers deem necessary to carry
              out the provisions of the Plan and the Trust Agreement, including
              attorneys, accountants, actuaries, clerks, or other agents, and
              may delegate any of their authority and duties to such persons.

3.       Financial Managers.

              Acting on behalf of Viacom, and subject to the terms of the Plan,
              the Trust Agreement and applicable resolutions of the Board, the
              Financial Managers shall have full and absolute discretion and
              authority to:

              a.   change or terminate the existing Investment Fund options
                   offered under the Plan or establish additional Investment
                   Fund options;

              b.   appoint and dismiss Investment Managers (as described by
                   section 3(38) of ERISA) and the Trustee;

              c.   provide guidelines and directions to, and monitor the
                   performance of, Investment Managers and the Trustee;

              d.   manage the cost and financial aspects of the Plan; and

                                       56
<PAGE>

              e.   adopt Plan amendments that (1) are required by ERISA or other
                   applicable law or regulation governing qualification of
                   employee benefit plans and which do not materially increase
                   costs to the Plan or Viacom, or (2) implement special rules
                   in Article XVI.5 for acquisitions, sales, and other
                   dispositions; provided that such amendments will be made in
                   writing, will be made according to procedures established by
                   the Financial Managers, and will be subject to the approval
                   of the Administrative Managers.

              The Financial Managers may employ, appoint, and dismiss advisors
              as the Financial Managers deem necessary to carry out the
              provisions of the Plan and the Trust Agreement, including
              attorneys, accountants, actuaries, clerks, or other agents, and
              may delegate any of their authority and duties to such persons.

4.       Plan Administrator.

              Viacom shall be the Administrator. The Plan Administrator is
              responsible for, and has authority to:

              a.   adopt reasonable and uniform rules and procedures as
                   necessary or appropriate for Plan administration and the
                   processing of claims for benefits;

              b.   make all initial determinations regarding claims for
                   benefits, including authority to interpret and apply any
                   applicable Plan provisions to the facts involved in each
                   benefits claim, and provide notice described in Article XV.8
                   to any claimant whose claim is denied;

                                       57
<PAGE>

              c.   direct the Trustee regarding: (1) payment of benefits to
                   Participants, and (2) payment of the reasonable and necessary
                   expenses of the Plan from Plan assets;

              d.   obtain fidelity bonds and fiduciary insurance coverage, in
                   accordance with applicable provisions of ERISA; and

              e.   comply with and monitor the Plan's continued compliance with
                   all governmental laws and regulations relating to
                   recordkeeping and reporting of Participants' benefits, other
                   notifications to Participants, registration with the Internal
                   Revenue Service, and reports to the Department of Labor.

5.       Trustee.

              The Trustee has exclusive responsibility for control and
              management of Plan assets, in accordance with the Trust Agreement.
              The Trustee is responsible for, and has authority to:

              a.   invest, manage, and control Plan assets, subject to the
                   direction of the Financial Managers and Investment Manager(s)
                   appointed by the Financial Managers;

              b.   maintain records and accounts of all contributions, receipts,
                   investments, distributions, expenses, disbursements, and all
                   other transactions; and

                                       58
<PAGE>

              c.   prepare records, reports, statements, tax returns, and forms
                   required to be furnished to Participants or filed with the
                   Secretary of Labor or Treasury, as required by the Trust
                   Agreement, or the directions of the Administrative Managers.

6.       Allocation of Fiduciary Authority.

              Viacom, the Trustee and the Investment Manager(s), and any other
              person having fiduciary responsibility, as described by section
              3121 of ERISA, with respect to the Plan (collectively, the "Plan
              Fiduciaries") each have individual responsibility for the prudent
              execution of their responsibilities assigned under this Plan, and
              are not responsible for acts or failures by another Fiduciary,
              unless the Plan provides for shared fiduciary responsibility. Plan
              Fiduciaries are obligated to discharge their duties with respect
              to the Plan solely and exclusively in the interest of Plan
              Participants and their Beneficiaries, and with the care, skill,
              prudence, and diligence under the circumstances then prevailing
              that a prudent man acting in a like capacity and familiar with
              such matters would use in the conduct of an enterprise of like
              character and with like aims.

              Whenever the Plan or Trust Agreement requires one Fiduciary to
              provide information or direct the activities of another Fiduciary,
              the two may not be deemed to have shared fiduciary responsibility
              -- rather, the Fiduciary giving directions or providing
              information is solely responsible for prudently directing or
              informing the other, and the Fiduciary receiving the direction or
              information is entitled to rely on that direction or information
              as proper under the Plan, the Trust Agreement, and applicable law.

              Any individual may serve in more than one capacity, e.g. the same

                                       59
<PAGE>

              individual may serve as an Administrative Manager and as an agent
              of Viacom or the Plan Administrator.

7.       Indemnification.

              a.   To the extent permitted by applicable law, the Board, the
                   Administrative Managers, the Financial Managers, the Plan
                   Administrator, the Trustee and any person to whom duties and
                   responsibilities have been allocated or delegated under this
                   Plan and Trust ("Covered Persons") shall be indemnified and
                   saved harmless by the Plan and Trust from and against any and
                   all claims of liability arising in connection with the
                   exercise of the Covered Person's duties and responsibilities
                   with respect to the Plan and Trust by reason of any act or
                   omission, including all expenses reasonably incurred in the
                   defense of such act or omission, unless

                   (1)  it will be established by final judgment of a court of
                        competent jurisdiction that such act or omission,
                        including all expenses reasonably incurred in the
                        defense of such act or omission, involved a violation of
                        the duties imposed by Part 4 of Subtitle B of Title I of
                        ERISA on the part of such Covered Person, or

                   (2)  in the event of settlement or other disposition of such
                        claim involving the Plan and Trust, it is determined by
                        written opinion of independent counsel that such act or
                        omission involved a violation of the duties imposed by
                        Part 4 of Subtitle B of Title I of ERISA on the part of
                        such Covered Person.

                                       60
<PAGE>

              b.   To the extent permitted by applicable law, the Trust will pay
                   expenses (including reasonable attorneys' fees and
                   disbursements), judgments, fines, and amounts paid in
                   settlement incurred by the Covered Person in connection with
                   any of the proceedings described above, provided that:

                   (1)  the Covered Person will repay such advanced expenses to
                        the Trust, plus reasonable interest, if it is
                        established by a final judgment of a court of competent
                        jurisdiction, or by written opinion of independent
                        counsel under the circumstances described above, that
                        the Covered Person violated duties under Part 4 of
                        Subtitle B of Title I of ERISA; and

                   (2)  the Covered Person will make appropriate arrangements
                        for repayment of advanced expenses.

                   Notwithstanding the foregoing, no such advanced expenses will
                   be made in connection with any claim against a Covered Person
                   that is made by the Plan, provided that upon final
                   disposition of such claim, the expenses (including reasonable
                   attorneys' fees and disbursements), judgments, fines, and
                   amounts paid in settlement incurred by the Covered Person
                   will be reimbursed by the Plan to the extent provided above.

8.       Claims for Benefits.

              Each person (including any Employee, former Employee, Surviving
              Spouse, or other Plan Beneficiary) must file a written claim with
              the Plan Administrator for any benefit to which that person
              believes he is entitled

                                       61
<PAGE>

              under this Plan, in accordance with reasonable procedures
              established by the Plan Administrator.

              Generally, the Plan Administrator is required to decide each claim
              within ninety (90) days of the date on which the claim is filed.
              If special circumstances require a longer period for adjudication,
              the Plan Administrator must notify the claimant in writing of the
              reasons for an extension of time, and the date by which the
              Administrator will decide the claim, before the ninety (90) day
              period expires. Extensions beyond ninety (90) days after the
              expiration of the initial ninety (90) day period are not
              permitted. If the Administrator does not notify the claimant of
              its decision to grant or deny a claim within the time specified by
              this section, the claim will be deemed to have been denied and the
              appeal procedure described in Article XV.9 below will become
              available to the claimant.

9.       Notice of Denial.

              If the Plan Administrator denies a claim for benefits under the
              Plan, the claimant will receive a written notice that explains:

              a.   the specific reason for the denial, including specific
                   reference to pertinent Plan provisions on which the denial is
                   based;

              b.   any additional information or material necessary to perfect a
                   claim, with an explanation of why such material is necessary,
                   if any information would be helpful or appropriate to further
                   consideration of the claim; and

              c.   the steps to be taken if the claimant wishes to appeal,
                   including the time available for appeal.

                                       62
<PAGE>

10.      Appeal of Denied Claims for Benefits.

              Claimants must submit a written request appealing the denial of a
              claim within sixty (60) days after receipt of notice described by
              Article XV.8. Claimants may review all pertinent documents, and
              submit issues and comments in writing. The Administrative Managers
              (or their delegate) will provide a full and fair review of all
              appeals from denial of a claim for benefits, and their decision
              will be final and binding.

              The decision of the Administrative Mangers (or their delegate)
              ordinarily will be given within sixty (60) days after receipt of a
              written request for appeal, unless special circumstances require
              an extension (such as for a hearing). If an extension of time for
              appeal is necessary, the claimant will receive written notice of
              the extension before the sixty (60) day period expires. The
              decision may not be delayed beyond one-hundred twenty (120) days
              after receipt of the written request for appeal. Notice of the
              decision on appeal will be provided in writing, and will explain
              the basis for the decision, including reference to applicable
              provisions of the Plan, in a manner calculated to be understood by
              the person who appealed the denial of a claim.

11.      Exhaustion of Remedies.

              No legal action for benefits under the Plan may be brought unless
              and until the following steps have occurred:

              a.   the claimant has submitted a written application for benefits
                   in accordance with Article XV.7;

                                       63
<PAGE>

              b.   the claimant has been notified that the claim has been
                   denied, as provided by Article XV.8;

              c.   the claimant has filed a written request appealing the denial
                   in accordance with Article XV.9; and

              d.   the claimant has been notified in writing that the
                   Administrative Managers (or their delegate) have denied the
                   claimant's appeal, or the Administrative Managers have failed
                   to act on the appeal within the time prescribed by Article
                   XV.9.

12.      Spendthrift Provision.

              No Plan benefit will be subject in any manner to anticipation,
              pledge, encumbrance, alienation, levy, or assignment, nor to
              seizure, attachment, or other legal process for the debts of any
              Employee, former Employee, or other Plan Beneficiary, except
              pursuant to a Qualified Domestic Relations Order under section
              414(p) of the Code or a domestic relations order entered before
              January 1, 1985, that the Plan Administrator treats as a Qualified
              Domestic Relations Order.

13.      Payment in Event of Incapacity.

              If the Plan Administrator determines that a person entitled to
              receive any Plan benefit is under a legal disability or is
              incapacitated in any way so as to be unable to manage his
              financial affairs, the Plan Administrator may direct that payments
              be made to such person's legal representative, or to a relative or
              other individual for such person's benefit, or to otherwise apply
              the payment for the benefit of such person, subject to such
              conditions as the Plan Administrator deems appropriate. Any
              payment of a benefit in

                                       64
<PAGE>

              accordance with the provisions of this Section will be a complete
              discharge of any liability by the Plan to make such payment.

14.      Expenses of the Plan.

              Reasonable expenses of the Plan may be paid from Plan assets,
              unless paid by Viacom. Viacom is entitled to reimbursement of
              direct expenses properly and actually incurred in providing
              services to the Plan, in accordance with applicable provisions of
              ERISA.

15.      Governing Law.

              The Plan will be construed, interpreted, and enforced according to
              the laws of Pennsylvania, to the extent such laws are not
              inconsistent with and preempted by ERISA.

                                       65
<PAGE>

                                   ARTICLE XVI

                               GENERAL PROVISIONS

1.       The act of establishing the Plan, any provision hereof or any action
         taken hereunder shall not be construed as giving any Participant the
         right to be retained as an Employee of an Employer, and the right of an
         Employer to terminate the employment of any Employee is specifically
         reserved.

2.       An Employer may require compliance with or satisfaction of any legal
         requirement which may be deemed by it necessary as a condition for
         participation in the Plan or for distribution of interests or benefits
         hereunder.

3.       By participating in the Plan or accepting any benefits hereunder, a
         Participant and any person claiming under or through him shall thereby
         be conclusively deemed to have accepted and consented to the
         application to him of the provisions of the Plan as interpreted by the
         Administrative Managers, as set forth in Article XV.

4.       In the case of any merger or consolidation with, or transfer of assets
         or liabilities to any other plan, each Participant in this Plan shall
         (if the Plan then terminated) receive a benefit immediately after the
         merger, consolidation or transfer, which is equal to or greater than
         the benefit he would have been entitled to receive immediately before
         the merger, consolidation or transfer (if this Plan had then
         terminated).

5.       Any provisions in this Plan to the contrary notwithstanding, in the
         event an Employee transfers directly to any other corporation or
         affiliate thereof in connection with the transfer to such other
         corporation maintained or operated under contract by an Employer, or
         who may be transferred by any such other

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<PAGE>

         corporation or affiliate thereof to another affiliate thereof
         subsequent to his transfer from an Employer, the Administrative
         Managers and the Financial Managers may, for legitimate business
         reasons including a reciprocal service agreement, treat service with
         any such other corporations as service with an Employer for purposes of
         vesting and for determining eligibility for any account balance to the
         date of such transfer or any other benefits under this Plan which are
         dependent on a service-eligibility requirement.

6.       SEG Transaction.

         On August 4, 1997, the account balance of SEG Carlsbad participants in
         the SEG 401(k) plan were transferred from the Principal Group to the
         Westinghouse Savings Program. Certain of these account balances were
         subsequently transferred from the Westinghouse Savings Program to this
         Plan on or about April 1, 1999. These account balances while with the
         Principal Group were subject to, and continue to be subject to, the
         following optional forms of distribution to former SEG Carlsbad
         participants and beneficiaries, in addition to being subject to the
         normal forms of distribution and optional forms of distribution set out
         in Article VI:

              a.   Straight life annuity;

              b.   Single life annuity with certain periods of 5, 10 or 15
                   years;

              c.   Single life annuity with installment refund;

              d.   Survivorship life annuity with installment refund and
                   survivorship percentages of 50, 66-2/3 (limited to

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<PAGE>

                   distributions commencing prior to January 1, 2000), or 100;
                   or

              e.   Fixed period annuity for a period which is not less than 60
                   months and does not exceed the life expectancy of the
                   participant and the named beneficiary.

         A married former SEG Carlsbad participant who elects an annuity under
         one of the above options must obtain the consent of his spouse
         according to the rules described below. If such consent is not properly
         obtained, the participant's benefit will be paid in the form of a
         survivorship life annuity with installment refund and survivorship
         percentages of 50, and with the participant's spouse as beneficiary (a
         qualified joint and survivor annuity). The Plan Administrator will
         provide each participant who elects an annuity under one of the above
         options, within no less than 30 days and no more than 90 days prior to
         the date payments begin under this Plan, a written explanation of: (i)
         the terms and conditions of the qualified joint and survivor annuity
         option; (ii) the participant's right to make (and the effect of) an
         election to waive the qualified joint and survivor annuity; (iii) the
         rights of a participant's spouse; and (iv) the right to make (and the
         effect of) a revocation of a previous election to waive the qualified
         joint and survivor annuity. Within the above 90-day period ending on
         the date payments begin, the participant must submit a written waiver
         of the qualified joint and survivor annuity option containing the
         consent of the participant's spouse. The spouse's consent must
         acknowledge the effect of the waiver and must be witnessed by a notary
         public. A revocation of a prior waiver may be made by a participant
         without the consent of the spouse at any time before the commencement
         of payments under the distribution option.

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                                  ARTICLE XVII

                                   DEFINITIONS

For purposes of the Plan, masculine pronouns include both men and women unless
the context indicates otherwise. The following words and phrases shall have the
meanings set forth below:

1.       "Accounts" shall mean the After-Tax Account, the Pre-Tax Account, the
         Employer Match Contribution Account, Additional Contribution Account,
         and Top-Heavy Contribution Account.

2.       "Actual Contribution Ratio (ACR)" shall mean, with respect to any
         Participant for a Plan Year, a fraction the numerator of which equals
         the Employer Match Contributions and After-Tax Contributions paid to
         the Trust for a Plan Year on behalf of such Participant and the
         denominator of which equals the Participant's Compensation (as defined
         in Article XVII.19) for the Plan Year.

3.       "Actual Deferral Ratio (ADR)" shall mean, with respect to any
         Participant for a Plan Year, a fraction the numerator of which equals
         the Pre-Tax Contributions paid to the Trust for the Plan Year on behalf
         of such Participant and the denominator of which equals the
         Participant's Compensation (as defined in Article XVII.19) for the Plan
         Year.

4.       "Additional Contribution" shall mean a qualified non-elective
         contribution as defined in Treasury Regulation section
         1.401(k)-1(g)(13)(ii) (which imposes an immediate forfeiture
         requirement and distribution restrictions described in Article
         XVII.47).

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<PAGE>

5.       "Additional Contribution Account" shall mean an account established and
         maintained on behalf of an Employee to which his Additional
         Contributions are allocated.

6.       "Administrative Managers" shall mean the person(s) appointed by Viacom,
         by written action of the Chief Operating Officer of Viacom, to act on
         behalf of Viacom as the sponsor and "named fiduciary" (within the
         meaning of section 402(a)(2) of ERISA), as appropriate, with respect to
         Plan administrative matters. When performing any activity or exercising
         any authority under the provisions of the Plan, the Administrative
         Managers shall be deemed to act solely on behalf of Viacom, and not in
         an individual capacity.

7.       "Affiliated Entity" shall mean a subsidiary which is at least 50% owned
         by the Company or a partnership or joint venture in which the Company
         is at least a fifty percent (50%) owner that has not been designated as
         an Employer. The term Affiliated Entity shall include all entities in
         the Controlled Group of each Employer.

8.       "After-Tax Account" shall mean the Savings, Voluntary, and Lay-Away
         Accounts (as defined in the August 1, 1985 Plan document) as of
         December 31, 1988 and all After-Tax Contributions made to the Plan by
         the Participant after December 31, 1988, with earnings thereon.

9.       "After-Tax Contribution" shall mean a contribution to the Plan deducted
         from a Participant's Compensation on an after-tax basis in accordance
         with the Participant's election made under Article II.

10.      "Alternate Payee" shall mean the recipient or recipients of payments
         made

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<PAGE>

         pursuant to a Qualified Domestic Relations Order.

11.      "Annual Addition" shall mean the total for the Limitation Year of the
         items listed below allocated to the account of an Employee under all
         defined contribution plans sponsored by the Employer or the Employer's
         Controlled Group (except that, for the purpose of this definition,
         "more than fifty percent (50%)" shall be substituted for "eighty
         percent (80%)" each place it appears in section 1563(a)(1) of the
         Code):

              a.   employer contributions;

              b.   forfeitures;

              c.   employee contributions (other than rollovers); and

              d.   amounts described in section 415(l)(1) or 419A(d)(2) of the
                   Code.

12.      "Beneficiary" shall mean the person, or persons or entity named by a
         Participant by written designation to receive benefits in the event of
         the Participant's death as described in Article IX.

13.      "Board" shall mean the Board of Directors of Viacom.

14.      "Calendar Month" shall mean, with respect to Employees paid on a weekly
         basis, the number of weekly payroll periods included by an Employer in
         a particular calendar month for accounting purposes and, with respect
         to Employees paid on a monthly basis, the particular calendar month.

15.      "Casual Employee" shall mean a person who is hired either:

              a.   For a predetermined limited period of time not to exceed
                   three (3) months, or

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<PAGE>

              b.   For the purpose of completing a specific task that is
                   anticipated not to exceed five (5) months and who has no
                   expectation of continued employment beyond the completion of
                   that task.

         The determination of who is a Casual Employee shall be made on a
         uniform and nondiscriminatory basis.

16.      Reserved.

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

18.      "Company" shall mean Viacom Services Inc., VI Services Corporation, and
         Westinghouse CBS Holding Company, Inc. Prior to the date of the close
         of the CBS / Viacom merger, the "Company" was Westinghouse Electric
         Corporation.

18A.     "Company Stock Fund" shall mean a fund primarily invested in the Viacom
         Inc. Common Stock.

19.      "Compensation" shall mean wages within the meaning of Code section
         3401(a) and all other payments of compensation to an Employee by the
         Employer (in the course of the Employers' trade or business) for which
         the Employer is required to furnish the Employee a written statement on
         Form W-2 under sections 6041(d), 6051(a)(3) and 6052 of the Code, and
         amounts contributed by the Employer pursuant to a salary reduction
         agreement that are not includible in the gross income of the Employee
         under sections 125, 402(e)(3) or 402(h) of the Code. Notwithstanding
         the preceding sentence, the term Compensation shall not include

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<PAGE>

         reimbursements or other expense allowances; fringe benefits (cash and
         noncash); moving expenses; deferred compensation; welfare benefits; and
         100% of an annual incentive award, under a management incentive
         program, if paid to a Highly Compensated Employee.

         For Plan Years beginning on or after January 1, 1994, the Compensation,
         expressed on an annualized basis, taken into account under the Plan
         shall not exceed $150,000, as adjusted by the Commissioner for
         increases in the cost-of-living in accordance with section
         401(a)(17)(B) of the Code.

         In determining the Compensation of an Employee for purposes of this
         limit, the rules of section 414(q)(6) of the Code shall apply, except
         in applying such rules, the term "family" shall include only the spouse
         of the Employee and any lineal descendants of the Employee who have not
         attained age 19 before the close of the year. If, as a result of the
         application of such rules the adjusted annual compensation limit is
         exceeded, then the limitation shall be prorated among the affected
         individuals in proportion to each such individual's Compensation
         determined under this Article XVII.19 prior to the application of this
         limitation.

20.      "Controlled Group" means with respect to an Employer:

              a.   any corporation which is a member of a controlled group of
                   corporations within the meaning of section 1563(a) of the
                   Code, determined without regard to sections 1563(a)(4) and
                   (e)(3)(C), including the Employer;

              b.   any trade or business under common control with such
                   Employer, within the meaning of section 414(c) of the Code;

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<PAGE>

              c.   any employer which is included with such Employer in an
                   affiliated service group, within the meaning of section
                   414(m) of the Code; or

              d.   any other entity required to be aggregated with the Employer
                   pursuant to regulations under section 414(o) of the Code.

21.      "Dollar Limit" shall mean the dollar limitation under section 402(g) of
         the Code in effect for a calendar year.

22.      "Eligibility Service" shall mean service determined as follows:

              a.   For all Employees except part-time Employees who are
                   regularly scheduled to work less than twenty-four (24) hours
                   per week:

                   (1) Subject to the qualifications and limitations stated
                       below in Article XVII.22.a(2) and 22.a(3), Eligibility
                       Service means all periods of service as an Employee with
                       the Employer for which the Employee is directly or
                       indirectly paid, or entitled to payment, by the Employer
                       for the performance of duties, and time spent on any of
                       the following:

                       (a)  furlough;

                       (b)  disability up to a maximum continuous period of two
                            (2) years;

                       (c)  leaves of absence (other than military leaves and

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<PAGE>

                            leaves for personal reasons including educational
                            leaves) up to a maximum of two (2) years, or up to a
                            maximum of four (4) years if such leave began prior
                            to January 1, 1995;

                       (d)  military leaves of absence up to a maximum equal to
                            that period of time during which reemployment is
                            required under applicable Federal statutes; or

                       (e)  layoffs up to a continuous period of one year.

                       If while an Employee is on disability leave of absence
                       under Article XVII.22.a(1)(b) above he is laid off, he
                       shall begin to accrue service only under Article
                       XVII.22.a(1)(e) above from that time and shall continue
                       to be credited with Eligibility Service under
                       subparagraph (e) for up to one (1) year, but in no event
                       shall the combined service in such situation under (b)
                       and (e) exceed two (2) years. Eligibility Service shall
                       be expressed in whole years and fractions thereof. Any
                       fraction of a year shall be expressed as a decimal ratio
                       of actual calendar days of service to the number of days
                       in that year.

                   (2) Periods of employment in an Excluded Unit, with an
                       Affiliated Entity, or as a leased employee (as defined in
                       section 414(n)(2) of the Code) of an Employer or a member
                       of the Employer's Controlled Group shall count as
                       Eligibility Service.

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<PAGE>

                   (3) Effective on and after January 1, 1976:

                       (a)  If the Employee is absent from service for any
                            reason which does not otherwise qualify him for
                            Eligibility Service under the Plan, and such absence
                            is not due to quit, discharge, release, retirement
                            or death, he shall receive Eligibility Service of up
                            to one (1) year for any continuous period of
                            absence.

                       (b)  If the Employee is separated from service by reason
                            of a quit, discharge, release or retirement, and
                            then is reemployed within twelve (12) months of the
                            date he was separated, the Employee's Eligibility
                            Service shall include the period between the date he
                            was separated and the date he was reemployed.

                       (c)  Notwithstanding the provisions of (i) and (ii)
                            above, if the Employee is separated from service by
                            reason of a quit, discharge, release or retirement
                            during an absence from service of twelve (12) months
                            or less for any reason other than a quit, discharge,
                            release or retirement and then is reemployed within
                            twelve (12) months of the date on which he was first
                            absent from service, the Employee's Eligibility
                            Service shall include the period between his last
                            day worked and the date he returns to work.

                   b.  For part-time Employees who are regularly scheduled to
                       work less

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<PAGE>

                       than twenty-four (24) hours per week and, beginning
                       October 1, 1997, Casual Employees, with respect to any
                       calendar year beginning on or after January 1, 1989, an
                       Employee shall receive one (1) full year of Eligibility
                       Service for any calendar year in which he works at least
                       1,000 hours. If such Employee works less than 1,000 hours
                       in any calendar year, he shall receive Eligibility
                       Service which shall be determined by dividing the number
                       of hours worked by 2,000, subject to a maximum of one (1)
                       full year. For the purposes of this Article XVII.22.b,
                       hours worked shall mean: (i) each hour for which an
                       Employee is paid, or entitled to payment, for the
                       performance of duties for the Employer (which hours will
                       be credited to the calendar year in which the duties are
                       performed); (ii) each hour for which an employee is paid,
                       or entitled to payment, by the Employer on account of a
                       period of time during which no duties are performed due
                       to vacation, holiday, illness, incapacity (including
                       disability), layoff, jury duty, military duty or leave of
                       absence (provided that no more than 501 hours will be
                       credited for any single continuous period whether or not
                       such period occurs in a single calendar year, and that
                       hours will be calculated and credited pursuant to 29 Code
                       of Federal Regulations, section 2530.200b-2, as
                       promulgated by the United States Department of Labor);
                       and (iii) each hour for which back pay, irrespective of
                       mitigation of damages, is either awarded or agreed to by
                       the Employer (which hours will be credited to the
                       calendar year to which the award or agreement pertains
                       rather than the calendar year in which the award,
                       agreement, or payment is made), excluding any hours
                       credited under (i) or (ii) above.

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<PAGE>

                       For any Plan Year in which an Employee falls into both
                       categories a and b described above, he shall receive
                       Eligibility Service under the category which is most
                       advantageous to him.

                   c.  For periods before October 1, 1997, in the case of a
                       Casual Employee who later becomes an Employee, such
                       person shall receive one (1) full year of Eligibility
                       Service for any calendar year in which he worked at least
                       1,000 hours as a Casual Employee.

23.      "Employee" shall mean: a person who is either not represented or who is
         employed in a unit represented by a labor organization or other
         representative which is recognized by an Employer as the representative
         of such unit for the purpose of collective bargaining and has entered
         into a written agreement with an Employer providing for participation
         in the Plan by the Employees in such unit, provided:

              (a)  such person is in the regular service of an Employer and is
                   neither employed in an Excluded Unit, a Casual Employee prior
                   to October 1, 1997, nor a leased employee (as defined in
                   section 414(n)(2) of the Code); or

              (b)  such person is a citizen of the United States or a resident
                   alien (as defined in section 7701(b) of the Code) who is an
                   Employee of either a domestic subsidiary (as defined in
                   section 407 of the Code) or of a foreign subsidiary as to
                   which an Employer has entered into an agreement under section
                   3121(1) of the Code and with respect to whom contributions
                   under a funded plan of deferred compensation (whether or not
                   described in sections 401(a), 403(a) or 405(a) of the

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<PAGE>

                   Code) are not provided by any person or company other than
                   the Employer with respect to the remuneration paid to the
                   citizens by the domestic or foreign subsidiary.

24.      "Employer" shall mean (a) the Company, (b) a subsidiary company which
         has been designated by the Administrative Managers on behalf of the
         Company as eligible to participate in the Plan, or (c) a joint venture
         in which the Company is participating which has been designated by the
         Administrative Managers on behalf of the Company as eligible to
         participate in the Plan, and which has entered into an agreement to
         participate in this Plan.

25.      "Employer Match Contribution Account" shall mean the Booster Account
         (as defined in the August 1, 1985 Plan text) as of December 31, 1988
         and all Employer Match Contributions made to the Plan by the Employer
         after December 31, 1988 with earnings thereon.

26.      "Employer Match Contribution" shall mean a contribution made by the
         Employer pursuant to Article II of the Plan.

27.      "ERISA" shall mean the Employee Retirement Income Security Act of 1974,
         as amended.

28.      "Excluded Unit" shall mean a group of employees who have been
         designated by the Administrative Managers as not eligible to
         participate in this Plan.

29.      "Family Member" shall mean an individual who is the spouse, lineal
         ascendant or lineal descendant of an Employee or former Employee, or
         the spouse of such lineal ascendant or descendant.

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<PAGE>

30.      "Financial Managers" shall mean the person(s) appointed by Viacom, by
         written action of the Chief Operating Officer of Viacom, to act on
         behalf of Viacom as the sponsor and "named fiduciary" of the Plan
         (within the meaning of section 402(a)(2) of ERISA), as appropriate,
         with respect to Plan financial matters. When performing any activity or
         exercising any authority under the provisions of the Plan, the
         Financial Managers shall be deemed to act solely on behalf of Viacom,
         and not in an individual capacity.

31.      "Fixed Income Fund" shall mean an Investment Fund designed to preserve
         capital and to provide a relatively stable and predictable rate of
         interest.

32.      "Highly Compensated Employee" shall mean any active or former Employee
         of an Employer who performs service during the determination year and
         is described in one or more of the following groups:

              a.   (1)  An individual employed by an Employer or an entity in
                        the Employer's Controlled Group who is a five percent
                        (5%) owner as defined in section 416(i)(1)(B)(i) of the
                        Code at any time during the determination year or
                        look-back year;

                   (2)  An individual employed by an Employer or an entity in
                        the Employer's Controlled Group who receives
                        compensation in excess of $75,000 during the look-back
                        year;

                   (3)  An individual employed by an Employer or an entity in
                        the Employer's Controlled Group who receives
                        compensation in excess of $50,000 during the look-back
                        year and is a member

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<PAGE>

                        of the top-paid group, as defined in section 414(q)(4)
                        of the Code, for the look-back year;

                   (4)  An individual employed by an Employer or an entity in
                        the Employer's Controlled Group who is an officer, as
                        defined in section 416(i) of the Code, during the
                        look-back year and who receives compensation in the
                        look-back year greater than fifty percent (50%) of the
                        dollar limitation in effect under section 415(b)(1)(A)
                        of the Code for the calendar year in which the look-back
                        year begins; or

                   (5)  An individual employed by an Employer or an entity in
                        the Employer's Controlled Group who both is described in
                        paragraph a.(2), (3), or (4) above when these paragraphs
                        are modified to substitute the determination year for
                        the look-back year and is one of the one hundred (100)
                        Employees who receive the most compensation from the
                        Employer or the entity during the determination year.

              b.   The terms "determination year" and "look-back year" shall
                   mean respectively, the Plan Year and the twelve (12) month
                   period immediately preceding the determination year.

              c.   The $75,000 and $50,000 amounts set forth in paragraphs a.(2)
                   and (3) above shall be indexed for changes in the cost of
                   living in accordance with section 415(d) of the Code.

              d.   If no officer satisfies the requirements of paragraph a.(4)
                   above

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<PAGE>

                   during a look-back year, then the highest paid officer for
                   such year shall be treated as a Highly Compensated Employee.
                   In addition, no more than 50 individuals (or, if lesser, the
                   greater of three individuals or 10 percent of employees
                   without regard to any exclusions) shall be treated as
                   officers for purposes of paragraph a.(4) above in determining
                   the group of highly compensated employees for any
                   determination year or look-back year.

              e.   If the Employee is, during a determination or look-back year,
                   a Family Member (as defined in section 414(q)(c) of the Code)
                   of either an active or former five percent (5%)
                   owner-Employee or one (1) of the ten (10) most Highly
                   Compensated Employees during such year, then the compensation
                   of the Family Member and that Employee shall be aggregated.
                   The Family Member and Employee shall be treated as a single
                   Employee receiving compensation and Plan contributions or
                   benefits equal to the sum of such compensation and
                   contributions or benefits of the Family Member and Employee.

              f.   A Highly Compensated Former Employee includes any Employee
                   who separated or was deemed to have separated from service
                   prior to the determination year, performs no service for the
                   Employer during the determination year, and was an active
                   Highly Compensated Employee for either the separation year or
                   any determination year ending on or after the Employee's 55th
                   birthday.

              g.   For purposes of this definition, the term "compensation"
                   shall mean compensation as defined in section 415(c)(3) of
                   the Code. The determination of who is a Highly Compensated
                   Employee shall be

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<PAGE>

                   made in accordance with section 414(q) of the Code and the
                   regulations thereunder.

33.      "Investment Fund" shall mean an investment option, selected by the
         Financial Managers, subject to the approval of the Administrative
         Managers, under Article III.1 of the Plan, to which Participants may
         direct investment of amounts in their Accounts. Investment Funds may
         include the Fixed Income Fund, the Company Stock Fund, the Mutual Funds
         and any other investment option selected by the Financial Managers,
         subject to the approval of the Administrative Managers.

34.      "Investment Manager" shall mean a fiduciary appointed by the Financial
         Managers to manage the investment of any portion of the assets of the
         Plan. Each Investment Manager shall either (a) satisfy the conditions
         to be an "Investment Manager," as described by section 3(38) of ERISA,
         or (b) be a "named fiduciary" of the Plan.

35.      "Layoff" shall mean the termination of the employment of an Employee
         with an Employer or Affiliated Entity through no fault of the Employee
         for lack of work for reasons associated with the business where the
         Employer or Affiliated Entity determines there is a reasonable
         expectation of recall within one year. Notwithstanding the foregoing, a
         person who would otherwise be considered to be on Layoff may take
         certain actions which would result in the severance of his relationship
         with the Employer. At the time such action is taken, that person shall
         become a voluntary quit and shall no longer be considered on Layoff.

36.      "Limitation Year" shall mean the Plan Year.

37.      "Mutual Fund" shall mean an open-end investment company registered
         under

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<PAGE>

         the Investment Company Act of 1940 that is selected by the Financial
         Managers, subject to the approval of the Administrative Managers, as an
         Investment Fund under Article III.1 of the Plan.

38.      "NAV" shall mean the net asset value of a share or Unit of a mutual
         fund. Net asset value is the price or market value of an individual
         share of a mutual fund. Generally, net asset value is calculated daily
         and is determined by adding up the value of all the securities and cash
         in a fund's portfolio, subtracting liabilities if there are any, and
         dividing that number by the number of shares the fund has issued.
         Except for money market funds, the share value will usually change
         daily.

39.      "Non-Highly Compensated Employee" shall mean any Employee who is
         neither a Highly Compensated Employee nor a Family Member of a Highly
         Compensated Employee.

40.      "Non-Vested Participant" shall mean an Active Participant who does not
         have a nonforfeitable right to his Employer Match Contribution Account.

41.      "Normal Retirement Date" shall mean the first of the month following
         the later of the month during which the Participant's 65th birthday
         occurs or the month during which the Participant completes five (5)
         years of Eligibility Service.

42.      "NYSE" shall mean the New York Stock Exchange.

43.      "Participant" shall mean any person who has an Account in the Plan.

44.      "Plan" shall mean the Westinghouse Savings Program as set forth in this
         document or as amended from time to time, which is intended to be a
         multiple

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<PAGE>

         employer plan subject to the provisions of section 413(c) of the Code
         and to be qualified under section 401(a) and section 401(k) of the
         Code. The portion of the Plan which covers represented Employees is
         intended to be a collectively bargained plan subject to section 413 of
         the Code.

45.      "Plan Administrator" shall mean Viacom.

46.      "Plan Year" shall mean the calendar year.

47.      "Pre-Tax Account" shall mean the Sure and Matured Sure Accounts (as
         defined in the August 1, 1985 Plan document) as of December 31, 1988
         and all Pre-Tax Contributions made to the Plan by the Participants
         after December 31, 1988, with earnings thereon. Pre-Tax Accounts are
         subject to the distribution restrictions set out in section
         1.401(k)-1(d)(1) of the Treasury regulations (which permits
         distributions only after one of the following events: (i) an employee's
         retirement, death, disability, or separation from service; (ii) the
         termination of a plan without establishment or maintenance of another
         defined contribution plan other than an ESOP or SEP (but only with
         respect to lump sum distributions); (iii) an employee's attainment of
         age 59 1/2 or hardship (but only with respect to a profit-sharing or
         stock bonus plan); (iv) the sale or other disposition to an unrelated
         corporation of substantially all of the assets used in a trade or
         business (but only with respect to lump sum distributions to employees
         who continue employment with the acquiring corporation and where the
         acquiring corporation does not maintain the plan after the disposition;
         and (iv) the sale or other disposition of a subsidiary to an unrelated
         entity (but only with respect to lump sum distributions to employees
         who continue employment with the subsidiary where the acquiring entity
         does not maintain the plan after the disposition)).

                                       85
<PAGE>

48.      "Pre-Tax Contribution" shall mean a contribution to the Plan deducted
         from a Participant's Compensation on a pre-tax basis in accordance with
         the Participant's election made under Article II.

49.      "Qualified Domestic Relations Order" or "QDRO" shall mean a court order
         as defined in section 414(p) of the Code.

50.      "Retired Participant" shall mean a Participant who is no longer an
         Employee and who has retired under an Employer pension plan. This term
         does not refer to a Participant who has terminated with a right to a
         vested pension under an Employer pension plan.

51.      "Rollover Distribution" shall mean one or more distributions which,
         under section 402 of the Code, are eligible for rollover to this Plan.

52.      "Securities" as used in Articles VI and VII, shall mean the full shares
         of Viacom Inc. Common Stock, including cash with respect to any
         fractional shares to which the Units in a Participant's Accounts can be
         converted.

53.      "Surviving Spouse" shall mean the spouse of a Participant on the date
         of his death.

54.      "Terminated Participant" shall mean a Participant (not including a
         Participant who has been on Layoff for twelve (12) months or less or is
         employed at an Affiliated Entity or employed in an Excluded Unit) who
         is no longer an Employee and is not a Retired Participant as defined in
         this Article XVII.50.

55.      "Top-Heavy Contribution" shall mean a contribution made by the Employer

                                       86
<PAGE>

         pursuant to Appendix B of the Plan.

56.      "Top-Heavy Contribution Account" shall mean an account established and
         maintained on behalf of a Participant to which his Top-Heavy
         Contributions, if any, are allocated.

57.      "Totally Disabled Participant" shall mean a Participant who at the time
         he stops accruing Eligibility Service is not able, because of injury or
         sickness, to engage in any gainful occupation for which he is
         reasonably fitted by education, training or experience provided he has
         completed at least ten (10) years of Eligibility Service.

58.      "Trading Day" shall mean any day on which the NYSE is open for
         business.

59.      "Trust" shall mean the Westinghouse Savings Program Trust established
         pursuant to the Plan.

60.      "Trustee" shall mean the trustee(s) from time to time in office
         pursuant to appointments made in accordance with the Plan.

61.      "Unit" shall mean the equitable share interest of a Participant within
         the Company Stock Fund and the Fixed Income Fund.

62.      "Valuation Date" shall mean any Trading Day. For valuations made prior
         to October 1, 1994, the term "Valuation Date" shall mean the last day
         of each Calendar Month.

63.      "Value - Value with respect to the Company Stock Fund" shall be
         determined as of each Valuation Date based upon the closing price of
         Viacom Inc. Common

                                       87
<PAGE>

         Stock as reported on the NYSE and the value of other investments within
         the Fund including accrued dividends or interest on such date, if any.

64.      "Value - Value with respect to the Fixed Income Fund" shall be
         determined as of each Valuation Date based upon the amounts invested
         including accrued interest.

65.      "Value - Value with respect to each Mutual Fund" shall be determined as
         of each Valuation Date and shall be based upon the published NAV of the
         Mutual Fund on such date.

66.      "Vested Participant" shall mean a Participant who has a nonforfeitable
         right to his Employer Match Contribution Account under the requirements
         of Article V.

66A.     "Viacom" means Viacom Inc., a Delaware Corporation.

67.      "Viacom Inc. Common Stock" shall mean the Class B common stock of
         Viacom Inc.

                                       88
<PAGE>

                                   APPENDIX A

                             SECTION 415 LIMITATIONS

In the event the provisions contained in this Appendix A are inconsistent with
the terms contained in the remainder of the Plan, the provisions of this
Appendix A shall take precedence.

A.       Overall Limits on Contributions. Contributions made on behalf of any
         Participant during any Plan Year shall be subject to the following:

         1.   In no event shall the Annual Addition for a Participant exceed the
              lesser of:

              a.   Twenty-five percent (25%) of the Participant's compensation
                   (as defined in section 415(c)(3) of the Code) for the
                   Limitation Year; or

              b.   The "defined contribution dollar limitation," which shall
                   mean $30,000 or, if greater, one-fourth of the defined
                   benefit dollar limitation under section 415(b)(1) of the Code
                   for the Limitation Year.

         2.   Contributions made on behalf of a Participant during a payroll
              period which begins in one Plan Year but ends in the next
              succeeding Plan Year shall be deemed an Annual Addition for the
              next succeeding Plan Year.

         3.   If an Employee is or was a Participant in one or more defined
              benefit plans and one or more defined contribution plans
              maintained or ever maintained by the Employer:

                                       89
<PAGE>

              a.   The sum of the defined benefit plan fraction and the defined
                   contribution plan fraction for any Limitation Year may not
                   exceed 1.0. The "defined benefit plan fraction" for any year
                   is a fraction the numerator of which equals the projected
                   annual benefit of the Participant under the Plan (determined
                   as of the close of the Plan Year), and the denominator of
                   which equals the lesser of:

                   (1)  The product of 1.25 multiplied by $90,000 or the
                        applicable dollar limit which is in effect for such
                        year; or

                   (2)  The product of 1.4 multiplied by 100 percent of the
                        Participant's average compensation (as defined in
                        section 415(c)(3) of the Code) for his high three
                        consecutive calendar years of active participation.

                   Notwithstanding the above, if the Employee was a participant
                   as of the first day of the first Limitation Year beginning
                   after December 31, 1986, in one or more defined benefit plans
                   maintained by the Employer in existence on May 6, 1986, the
                   denominator of this fraction shall not be less than 125
                   percent of the sum of the annual benefits under such plans
                   which the Participant had accrued as of the close of the last
                   Limitation year beginning before January 1, 1987,
                   disregarding any changes in the terms and conditions of the
                   Plan after May 5, 1986. The preceding sentence applies only
                   if the defined benefit plan individually and in the aggregate
                   satisfied the requirements of section 415 of the Code for all
                   Limitation Years beginning before January 1, 1987.

                                       90
<PAGE>

              b.   The defined contribution plan fraction for any year is a
                   fraction the numerator of which equals the sum of the Annual
                   Additions to the Participant's Accounts as of the close of
                   the plan year, and the denominator of which equals the sum of
                   the lesser of the following amounts determined for such year
                   and for each prior year:

                   (1)  The product of 1.25 multiplied by $30,000 or the
                        applicable dollar limit which is in effect for such plan
                        year; or

                   (2)  The product of 1.4 multiplied by 25 percent of the
                        Participant's compensation (as defined in section
                        415(c)(3) of the Code).

              Notwithstanding the above, if the Employee was a Participant as of
              the end of the first day of the first Limitation Year beginning
              after December 31, 1986, in one or more defined contribution plans
              maintained by the Employer which were in existence on May 6, 1986,
              the numerator of this fraction shall be adjusted if the sum of
              this fraction and the defined benefit fraction would otherwise
              exceed 1.0 under the terms of this Plan. Under the adjustment, an
              amount equal to the product of (i) the excess of the sum of the
              fractions over 1.0 times (ii) the denominator of this fraction,
              will be permanently subtracted from the numerator of this
              fraction. The adjustment is calculated using the fractions as they
              would be computed as of the end of the last Limitation Year
              beginning before January 1, 1987, and disregarding any changes in
              the terms and conditions of the Plan made after May 6, 1986, but
              using the limitation of section 415 of the Code applicable to the
              first Limitation Year beginning on or after January 1, 1987.

                                       91
<PAGE>

         5.   The limitations of this Appendix A shall be applied to this Plan
              after they are applied to any other defined contribution plan of
              the Employer or Employer's Controlled Group. This Appendix A shall
              be satisfied prior to satisfying the ADP test.

         6.   If an Employer or the Employer's Controlled Group maintains or
              maintained a defined benefit plan and the amount contributed to
              the Trust in respect of any Plan Year would cause the amount
              allocated to any Participant under all defined contribution plans
              maintained by the Employer or the Employer's Controlled Group to
              exceed the maximum allocation as determined in paragraph A.5, then
              the allocation with respect to such Participant shall be reduced
              by the amount of such excess. To the extent administratively
              feasible, the limitation of this paragraph shall be applied to the
              Participant's benefit payable from the defined benefit plan prior
              to reduction of the Participant's Annual Addition under this Plan.
              The excess allocation shall be treated in accordance with
              paragraph A.3 or A.4, as applicable.

B.       Distributions Of Excessive Annual Additions

         1.   If, as a result of a reasonable error in estimating a
              Participant's compensation (as defined in section 415(c)(3) of the
              Code), a reasonable error in determining the amount of Participant
              Pre-Tax Contributions (within the meaning of section 402(g)(3) of
              the Code) that may be made with respect to any Participant under
              the limits of Section A.1 of this Appendix A or other facts and
              circumstances to which Regulation 1.415-6(b)(6) shall be
              applicable, the Annual Additions under this Plan would cause the
              maximum Annual Additions to be exceeded for any Participant,

                                       92
<PAGE>

              the Administrator may return any Participant After-Tax
              Contributions credited for the year or may distribute any
              Participant Pre-Tax Contributions (within the meaning of section
              402(g)(3) of the Code) necessary to eliminate the "excess amount."

         2.   For purposes of this Section, "excess amount" for any Participant
              for a year means the excess, if any, of the Annual Additions which
              would be credited to his Accounts under the terms of the Plan
              without regard to the limitations of section 415 of the Code over
              the maximum Annual Additions determined pursuant to Section A.1 of
              this Appendix A.

         3.   The Company retains the right to adjust both Participant's Pre-Tax
              and After-Tax Contributions to ensure compliance with Code section
              415(c) limits.

         4.   If the Annual Addition must be limited for any Participant after
              application of the above in order to comply with section 415 of
              the Code, the excess amounts in the Participant's account in the
              next Limitation Year must be held unallocated in a suspense
              account for the Limitation Year and allocated and reallocated to
              all the Participants in the Plan. The excess amounts must be used
              to reduce Employer contributions for the next Limitation Year (and
              succeeding Limitation years, as necessary) for all of the
              Participants in the Plan. Furthermore, the excess amounts will be
              used to reduce Employer contributions for the next Limitation Year
              (and succeeding Limitation years, as necessary) for all of the
              remaining Participants in the Plan. Excess amounts may not be
              distributed to Participants or former Participants except as
              provided in paragraph B.1.

                                       93
<PAGE>

         5.   Excess amounts refunded under this Subsection shall not be
              considered Pre-Tax Contributions for purposes of the annual Dollar
              Limit in section 402(g) of the Code and the ADP test in Article
              II, nor After-Tax Contributions for the purpose of the ACP test in
              Article II and shall not be considered as an eligible rollover
              distribution for purposes of Article VI.12.

         6.   Distributions of Participant After-Tax Contributions and
              Participant Pre-Tax Contributions pursuant to this Section shall
              include investment gains and losses attributable thereon.

         7.   Determinations whether to distribute Participant After-Tax
              Contributions or Participant Pre-Tax Contributions, determinations
              of the investment alternative(s) from which the distribution is to
              be made, and computations of attributable investment gains and
              losses shall be made by the Plan Administrator in its discretion
              pursuant to reasonable and uniform procedures.

                                       94
<PAGE>

                                   APPENDIX B

                              TOP HEAVY PROVISIONS

A.       Top-Heavy Preemption. During any Plan Year in which this Plan is
         Top-Heavy, as defined in Appendix B Paragraph B below, the Plan shall
         be governed in accordance with this Appendix, which shall control over
         other provisions.

B.       Top-Heavy Definitions. For purposes of this Appendix, the following
         definitions shall apply:

         1.   "Compensation" shall mean Compensation as defined in section
              415(c)(3) of the Code.

         2.   "Contribution Rate" shall mean the sum of contributions made by
              the Employer under this Plan, excluding, effective January 1,
              1989, salary deferral contributions made under this or any other
              plan maintained by the Employer, plus forfeitures allocated to the
              Participant's Accounts for the Plan Year, divided by the
              Participant's Compensation for the Plan Year. To determine the
              Contribution Rate, the Plan Administrator shall consider all
              qualified defined contribution plans (within the meaning of the
              Code) maintained by the Employer, as a single plan.

         3.   "Determination Date" shall mean the last day of the preceding Plan
              Year, except that in the initial Plan Year, Determination Date
              shall mean the last day of such Plan Year. For the purposes of
              testing the Top-Heavy status of Required and Permissive
              Aggregation Groups, Determination Date shall mean the last day of
              each respective plan's Plan Year which occurs in the calendar year
              coincident with the Determination Date of this Plan.

                                       95
<PAGE>

         4.   "Key Employee" shall mean any Employee or former Employee (and the
              Beneficiaries of such Employee) who at any time during the
              "Determination Period" was an officer of the Employer if such
              individual's annual Compensation exceeds 50 percent of the dollar
              limitation under section 415(b)(1)(A) of the Code, an owner (or
              considered an owner under section 318 of the Code) of one of the
              ten largest interests in the Employer if such individual's
              Compensation exceeds 100 percent of the dollar limitation under
              section 415(c)(1)(A) of the Code, a 5 percent owner of the
              Employer, or a 1 percent owner of the Employer who has an annual
              Compensation of more than $150,000. The "Determination Period" is
              the Plan Year containing the determination date and the four
              preceding Plan Years.

              The determination of who is a Key Employee will be made in
              accordance with section 416(i)(1) of the Code and the regulations
              thereunder.

         5.   "Non-Key Employee" shall mean any Employee currently eligible to
              participate in the Plan who is not a Key Employee.

         6.   "Permissive Aggregation Group" shall mean the Required Aggregation
              Group plus any other qualified plans maintained by the Employer or
              the Employer's Controlled Group, but only if such resultant group
              would satisfy, in the aggregate, the requirements of section
              401(a)(4) and 410 of the Code. The Plan Administrator shall
              determine which plans to take into account in determining the
              Permissive Aggregation Group.

         7.   Required Aggregation Group" shall mean:

                                       96
<PAGE>

              a.   Each qualified plan of the Employer or the Employer's
                   Controlled Group (including any terminated plan that covered
                   a Key Employee and was maintained within the five-year period
                   ending on the Determination Date) in which at least one Key
                   Employee participates during the Plan Year containing the
                   Determination Date or any of the four preceding Plan Years;
                   and

              b.   Any other qualified plan of the Employer or the Employer's
                   Controlled Group which enables a plan described in a. above,
                   to meet the requirements of section 401(a)(4) or 410 of the
                   Code.

         8.   "Top-Heavy" shall describe the status of the Plan in any Plan Year
              if the "Top-Heavy Ratio" as of the Determination Date exceeds 60
              percent.

              a.   "Top-Heavy Ratio" is a fraction as of the Determination Date
                   as follows:

                              Accrued Benefit of all Key Employees
                              ------------------------------------
                                Accrued Benefits of all Employees

              b.   Notwithstanding a above, the Top-Heavy Ratio shall be
                   computed pursuant to section 416(g) of the Code, and any
                   regulations issued thereunder.

              c.   Solely for the purpose of determining if the Plan, or any
                   other plan included in a Required Aggregation Group of which
                   this Plan is a part, is Top-Heavy (within the meaning of
                   section 416(g) of the

                                       97
<PAGE>

                   Code), the accrued benefit of an Employee other than a Key
                   Employee (within the meaning of section 416(i)(1) of the
                   Code) shall be determined (a) under the method, if any, that
                   uniformly applies for accrual purposes under all plans
                   maintained by the Employer or the Employer's Controlled Group
                   or, if there is no such method, then (b) as if such benefit
                   accrued not more rapidly than the slowest accrual rate
                   permitted under the fractional rule accrual of section
                   411(b)(1)(C) of the Code.

              d.   For purposes of this Appendix only, "Accrued Benefit" shall
                   include or exclude rollovers as determined under Treasury
                   regulation 1.416-1,T-32.

              e.   If an individual is not a Key Employee but was a Key Employee
                   in a prior year or if any individual has not performed
                   services for the Employer at any time during the five-year
                   period ending on the Determination Date, any Accrued Benefit
                   for any such individual shall not be taken into account in
                   determining the Top-Heavy status of the Plan.

              f.   The value of Account balances and the present value of
                   Accrued Benefits will be determined as of the most recent
                   Valuation Date that falls within or ends with the
                   twelve-month period ending on the Determination Date, except
                   as provided in section 416 of the Code and the regulations
                   thereunder for the first and second plan years of a defined
                   benefit plan.

              g.   The Accrued Benefit shall include any part of any Account
                   balance

                                       98
<PAGE>

                   distributed in the five-year period ending on the
                   Determination Date.

              h.   The present value shall be based only on the interest rate
                   and mortality rates specified in the defined benefit plan.

C.       Aggregation of Plans. All Required Aggregation Groups shall be
         considered (pursuant to section 416(g) of the Code) with this Plan in
         determining whether this Plan is Top-Heavy.

         1.   If such aggregation constitutes a Top-Heavy group, each plan so
              aggregated shall be considered Top-Heavy.

         2.   If such aggregation does not constitute a Top-Heavy group, none of
              the plans so aggregated shall be considered Top-Heavy.

         At the direction of the Plan Administrator and subject to the
         restrictions of sections 401(a)(4) and 410 of the Code, Permissive
         Aggregation Groups may be considered with this Plan plus any Required
         Aggregation Groups to determine whether such group is Top-Heavy. If
         such aggregation does not constitute a Top-Heavy group, none of the
         plans so aggregated shall be considered Top-Heavy.

D.       Minimum Contribution Rate. Subject to Paragraph G below, for any Plan
         Year in which this Plan is Top-Heavy, a minimum contribution shall be
         made for each Non-Key Employee as of the last day of the Plan Year
         which shall equal the lesser of:

         1.   Three percent (3%) of Compensation; or

                                       99
<PAGE>

         2.   The highest Contribution Rate (calculated, for this purpose only,
              by including salary deferral contributions made under this or any
              other plan maintained by the Employer) received by a Key Employee
              in that Plan Year.

         This Top-Heavy Contribution shall be made irrespective of such Non-Key
         Employee's hours of service, Compensation or failure to make
         contributions, as applicable hereunder.

E.       Deposit of Minimum Contribution. The Plan Administrator shall deposit
         any minimum contribution made under this Appendix to a "Top-Heavy
         Contribution Account" for each Non-Key Employee. Such account shall
         become part of his Accrued Benefit and shall vest pursuant to Appendix
         B Paragraph F hereof.

F.       Top-Heavy Vesting Schedule. In any Plan Year in which this Plan is
         Top-Heavy, any Participant who is credited with at least one hour of
         service during such Plan Year shall vest in accordance with Article V
         or the following schedule, whichever produces the greater benefit:

         During any Plan Year in which this Plan is not Top-Heavy, vesting shall
         be determined pursuant to Article V, except that non-forfeitable rights
         obtained under the Top-Heavy vesting schedule shall be preserved.

         In any Top Heavy Plan Year, with respect to an Employer, the accrued
         benefit under the Plan of each Employee of such Employer shall be fully
         vested and nonforfeitable if he has credit for three years of
         Eligibility Service. In the event the Plan, with respect to an
         Employer, ceases to be a Top Heavy Plan for any Plan Year subsequent to
         a Top Heavy Plan Year, the accrued benefit of any Employee

                                      100
<PAGE>

         of such Employer that has been fully vested in accordance with the
         preceding section shall remain fully vested.

G.       Combined Defined Benefit and Defined Contribution Plans. In the event
         that the Employer maintains a defined benefit and a defined
         contribution plan, and

         1.   The defined benefit plan benefits a Key Employee and depends on
              this Plan to satisfy sections 401(a)(4) and 410 of the Code, the
              minimum Contribution Rate for Non- Key Employees hereunder shall
              be five percent (5%), irrespective of the Contribution Rate for
              Key Employees (unless the Employee provides for the minimum
              required Top-Heavy benefit accrual for the Plan Year under the
              defined benefit plan); and

         2.   The figure "1.0" shall be substituted for the figure "1.25" as it
              applies in Appendix A if:

              a.   The Top-Heavy Ratio exceeds 90 percent, or

              b.   The Plan is Top-Heavy for the Plan Year, and the Contribution
                   Rate under Appendix B Paragraph D is less than seven and
                   one-half percent (7 1/2%) (unless the Employer provides for
                   the minimum required Top-Heavy benefit accrual for the Plan
                   Year under the defined benefit plan).

                                      101EXHIBIT 4.16

                          CBS EMPLOYEE INVESTMENT FUND

              FOR ELIGIBLE EMPLOYEES OF CBS BROADCASTING, INC. AND
                   CERTAIN OF ITS SUBSIDIARIES AND AFFILIATES

                      AS RESTATED EFFECTIVE JANUARY 1, 1998

                                  WORKING COPY
                          (INCLUDING AMENDMENTS ADOPTED
                      THROUGH THE DATE OF THE CLOSE OF THE
                              CBS / VIACOM MERGER)

                       (Changes Are Subject to IRS Review
                        and Contingent Upon IRS Approval)

<PAGE>

                          CBS EMPLOYEE INVESTMENT FUND

                                    Contents

I.       The Purpose of the Plan; the Trust...................................1

II       Participation........................................................2

III.     Accounts.............................................................4

IV.      Employee Contributions; Contribution Elections; Investment
           Directions; Conversion Directions; Rollover Contributions..........8

V.       Employer's Matching Contributions...................................25

VI.      Termination of Participation; Withdrawals; Determination

           and Payment of Benefits...........................................28

VII.     The Managers........................................................47

VIII.    Administration......................................................48

IX.      Definitions; Construction...........................................54

X.       Adoption by Subsidiaries............................................69

XI.      Amendment; Termination..............................................70

XII.     Limitations.........................................................73

XIII.    Interpretation......................................................77

XIV.     Top-Heavy Plan......................................................78

XV.      Midwest Communications, Inc. Transaction............................82

XVI.     Merger of Radford Studio Center Inc. 401(k) Tax
         Sheltered Savings Plan and Trust....................................86

<PAGE>

XVII.    Direct Rollover of Amounts from Plans in Which Employees
         of WPRI-TV Participated.............................................87

XVIII.   Direct Rollover of Amounts from Plans in Which Employees
         of TNN/CMT Cable Networks Participated..............................89

XIX.     Account Transfers...................................................91

APPENDIX A...................................................................96

<PAGE>

                          CBS EMPLOYEE INVESTMENT FUND

I.       The Purpose of the Plan; the Trust
         ----------------------------------

         A. The purpose of the Investment Fund, the plan embodied herein, is to
provide Employees of CBS and certain of its subsidiaries and affiliates who are
eligible to participate therein a convenient way to save for their retirement.
It is intended that at all times the Investment Fund and the related Trust will
constitute a plan qualified under Section 401(a) and exempt under Section 501(a)
of the Internal Revenue Code, as amended ("the Code"), and will comply with the
requirements of Section 401(k) of the Code and of the Employee Retirement Income
Security Act of 1974 ("ERISA"). The Investment Fund embodied herein constitutes
an amendment to and restatement of the Investment Fund in effect on December 31,
1997, and is effective January 1, 1998, or such other date as provided in a
resolution of the Board of Directors (or such other corporate body as shall have
amendment authority) or in the Plan or as required (and to the extent required)
by applicable law. Nothing in this amendment and restatement shall have the
effect of reducing any participant's rights to accrued benefits (including
optional forms of benefit) under the terms of the Investment Fund in effect on
December 31, 1997.

         B. As a part of the Investment Fund, and solely to aid in the proper
execution thereof, CBS and the other Employers have entered into the Trust
Agreement. The Trust has been created solely to aid in the proper execution of
the Investment Fund and shall be availed of solely for such purpose. Each
provision of the Trust Agreement shall be deemed to be a provision hereof as
fully as if it were set forth herein.

         C. The Investment Fund, as amended to December 31, 1997, shall continue
to be applicable to all former Employees whose employment (and participation)
terminated prior to January 1, 1998, except as otherwise provided herein. The
Investment Fund, as amended as of January 1, 1998 and as may be amended
thereafter, shall be applicable to all Employees who are or become eligible to
participate therein on or after such date.

         D. Certain terms used herein and in the Trust Agreement are defined and
set forth in alphabetical order in Paragraph A of Article IX hereof.

<PAGE>

II       Participation.
         --------------

         A. This Section II.A applies to Employees employed on other than a
full-time basis. Each such person who, on January 1, 1997 or on the first day of
any monthly accounting period commencing subsequent to such date,

                  (1)  is an Employee of one or more of the Employers and
         either (a) during the 12-month period preceding such date or, in the
         case of an Employee employed on other than a full-time basis, during
         any 12-month period subsequent to December 31, 1975 preceding such date
         has been such an Employee, or (b) is included in a group determined by
         the Board to be eligible to participate in the Investment Fund after
         employment by one or more of the Employers during such period of less
         than one year as the Board has determined, and during such period has
         continuously been such an Employee, and

                  (2)      has completed a year of service,

         shall become eligible to participate in the Investment Fund on the
         first day of his earliest payroll period commencing with or within such
         monthly accounting period. Any participant and any Employee eligible to
         participate in the Investment Fund whose employment terminated or who
         incurs a break in service and who shall again become an Employee shall
         be eligible to participate in the Investment Fund on the date he is
         reemployed or returns from a break in service, as the case may be.

         Solely for the purpose of determining whether an Employee has completed
a year of service in accordance with clause (2) of Section A., an Employee who
was employed by WPRI-TV or WGPR-TV on the date the assets of those two stations
were acquired by CBS (the "Acquisition Date") shall be credited with a year of
service for each year of the Employee's employment with the seller of WPRI-TV
and WGPR-TV.

         Solely for the purpose of determining whether an Employee has completed
a year of service in accordance with clause (2) of Section A., an Employee who
was employed by the seller of TNN/CMT Cable Networks prior to the date the
assets related to that network were acquired by CBS (the "Gaylord Acquisition
Date") and became an Employee of CBS on the Gaylord Acquisition Date shall be
credited with a year of service for each year of the Employee's employment with
the seller of TNN/CMT Cable Networks.

                                       2
<PAGE>

         B. This Section II.B applies to Employees employed on a full-time
basis. Each such person who is an Employee of one or more of the Employers shall
immediately become eligible to participate in the Investment Fund.

         C. Any person described in Section II.A or II.B who is eligible to
participate in the CBS News Special Projects Inc. Employee Investment Fund shall
be excluded from participation in this Investment Fund as of the date such
person becomes eligible to participate in the CBS News Special Projects Inc.
Employee Investment Fund. Any person who was eligible to participate in the CBS
News Special Projects Inc. Employee Investment Fund and is subsequently employed
or reemployed by CBS shall be immediately eligible to participate in this
Investment Fund upon such date of employment or reemployment.

         D. Each new Employee described in Section II.A or II.B. who shall
become eligible to participate in the Investment Fund and who shall file with
CBS his election to do so shall become a participant therein on the first day of
the first payroll period after the enrollment election has been processed by
CBS. Such election shall be processed as quickly as reasonably practicable, but
under no circumstances shall contributions be made retroactive to a period
preceding completion of the election and enrollment process. A participant may
be such by reason of his concurrent employment by two or more Employers. Any
such participant shall be entitled to participate in the Investment Fund as an
Employee of each such Employer.

         E. In no event, however, shall a "leased employee," as defined in
Section 414(n) of the Code, be entitled to participate in the Investment Fund.

                                       3
<PAGE>

III.     Accounts.
         ---------

         A. CBS shall cause to be established a separate (i) Stable Value Fund
account, (ii) S&P 500 Index Fund account, (iii) Value U.S. Equity Fund account,
(iv) Small Cap U.S. Equity Fund account, (v) International Equity Index Fund
account, (vi) Short Term Life Cycle Fund account, (vii) Medium Term Life Cycle
Fund account, (viii) Long Term Life Cycle Fund, and (ix) Self Directed Fund
account for each participant, and within each such account a separate after-tax
subaccount, a separate before-tax subaccount, a separate Employer matching
contributions subaccount, and a separate rollover contributions subaccount to
account respectively for contributions to the account made on an after-tax
basis, a before-tax basis, a matching basis, and a rollover basis, which shall
be used in connection with the investment by the Trustee of specified portions
(if any) of such participant's contributions, Employer matching contributions,
and rollover contributions in securities and other properties.

         B. 1. CBS shall cause to be established a separate Company Stock Fund
account for each participant, and within each such account a separate after-tax
subaccount, a separate before-tax subaccount, a separate Employer matching
contributions subaccount, and a separate rollover contributions subaccount to
account respectively for contributions to the account made on an after-tax
basis, a before-tax basis, a matching basis, and a rollover basis, which shall
be used in connection with the investment by the Trustee of specified portions
(if any) of such participant's contributions, Employer matching contributions,
and rollover contributions in Viacom Inc. Stock.

         When a tender or exchange offer or other offer to purchase Viacom Inc.
Stock (other than on an all-cash basis) is made, CBS shall cause to be
established a separate, numerically designated Company Stock Fund account for
each participant who shall have instructed the Trustee, pursuant to subparagraph
2 of Paragraph L of Article VIII, to tender or sell shares of Viacom Inc. Stock
representing Company Stock Fund units credited to such participant's Company
Stock Fund account. Such newly established, numerically designated Company Stock
Fund accounts shall be used only in connection with the investment by the
Trustee of the securities or other property received by the Trustee with respect
to such participant's Company Stock Fund units, and held by the Trustee in
separate, numerically designated Company Stock Fund accounts, as a consequence
of the closing of such a transaction. Such numerically designated Company Stock
Fund account of a participant shall be respectively credited with numerically
designated Company Stock Fund units representing such participant's proportional
share of the Company Stock Fund, as initially valued and as periodically
thereafter valued on a valuation date.

                                       4
<PAGE>

         2. CBS shall cause to be established a separate Infinity Stock Fund
account for each participant, and within each such account a separate after-tax
subaccount, a separate before-tax subaccount, a separate Employer matching
contributions subaccount, and a separate rollover contributions subaccount to
account respectively for contributions to account made on an after-tax basis, a
before-tax basis, a matching basis, and a rollover basis, which shall be used in
connection with the investment by the Trustee of specified portions (if any) of
such participant's contributions, Employer matching contributions in Infinity
Stock.

         When a tender or exchange offer or other offer to purchase Infinity
Stock (other than on an all-cash basis) is made, CBS shall cause to be
established a separate, numerically designed Infinity Stock Fund account for
each participant who shall have instructed the Trustee, pursuant to subparagraph
2 of Paragraph M of Article VIII, to tender or sell shares of Infinity Stock
representing Infinity Stock Fund units credited to such participant's Infinity
Stock Fund account. Such newly established, numerically designated Infinity
Stock Fund accounts shall be used only in connection with the investment by the
Trustee of the securities or other property received by the Trustee with respect
to such participant's Infinity Stock Fund units, and held by the Trustee in
separate, numerically designated Infinity Stock Fund accounts, as a consequence
of the closing of such a transaction. Such numerically designated Infinity Stock
Fund account of a participant shall be respectively credited with numerically
designated Infinity Stock Fund units representing such participant's
proportional share of the Infinity Stock Fund, as initially valued and as
periodically thereafter on a valuation date.

         C. Effective March 1, 1996, at any time that the value of a
participant's interest in each fund of the Investment Fund is measured in units,
the number of units credited to each participant's fund accounts due to a
participant's contributions, Employer matching contributions, or rollover
contributions shall be determined by dividing the amount of such contributions
by the unit value of the fund as of the valuation date concurrent with or
immediately preceding the date that such contributions are transferred to the
Trustee. Earnings and losses are allocated within each fund as of each valuation
date (but not less frequently than annually) to determine the unit value of each
fund. Each participant's share of such earnings and losses will be determined as
of each valuation date by multiplying the number of units in the participant's
account by the unit value on the valuation date. The net value of a
participant's account shall be the value of a participant's account in all funds
as of a valuation date, and shall be equal to the sum of the products obtained
by multiplying the number of units credited to a participant in each fund by
each fund's unit value as of the applicable valuation date. At any time that the
method of valuation under the Investment Fund changes from dollar valuation
(described below) to this method, the value of a participant's account on such
transition date shall be

                                       5
<PAGE>

determined by dividing the dollar value of the participant's account by the unit
value assigned to each unit on such transition date. Effective January 1, 1998,
a participant's interest in the following Funds will be measured in units:
Stable Value Fund; S&P 500 Index Fund; Value U.S. Equity Fund; International
Equity Index Fund; Company Stock Fund; and Infinity Stock Fund.

         Effective for the period January 1, 1996 through February 29, 1996, the
above method shall be used to value a participant's account, provided however,
that the number of units credited to each participant's fund accounts due to a
participant's contributions, Employer matching contributions, or rollover
contributions shall be determined by dividing the amount of such contributions
by the unit value of the fund as of the last valuation date of the month in
which such contributions are transferred to the Trustee, and each participant's
share of earnings and losses will be determined as of each valuation date by
multiplying the number of units in the participant's account as of the last day
of the month (reduced by the number of units attributable to contributions for
such month) by the unit value on the last valuation date of the month.

         For periods prior to January 1, 1996 and at any time that the value of
the Investment Fund is not measured in units, as of each valuation date, the
earnings, losses, appreciation and depreciation of each fund account in the
Investment Fund since the last preceding valuation date shall be allocated among
the accounts of participants in the proportion that the adjusted value of each
participant's account in such fund account bore to the value of all
participant's accounts in such fund account on the last valuation date. The net
value of a participant's account shall be the value of a participant's account
in all funds as of a valuation date. The adjusted value of each participant's
account shall be determined by reducing the participant's account balance as of
the immediately prior valuation date by any distributions, forfeitures, and
withdrawals made since such valuation date. At any time that the method of
valuation under the Investment Fund changes from unit valuation to this method,
the value of each fund account under a participant's account shall be determined
as of the transition date by multiplying the number of units in each fund
account under the participant's account by the unit value on the transition
date. Effective January 1, 1998, a participant's interest in the following Funds
will not be measured in units: Small Cap U.S. Equity Fund; Short Term Life Cycle
Fund; Medium Term Life Cycle Fund; Long Term Life Cycle Fund; and Self Directed
Fund.

         If any participant's account is credited with an incorrect amount of
before-tax contributions, after-tax contributions, Employer matching
contributions, or rollover contributions, or earnings on any such contributions,
or if an error is made with respect to the investment of the assets of the
Investment Fund which error results in an error in the

                                       6
<PAGE>

amount credited to a participant's account, and either such failure is due to
administrative error in determining or allocating the proper amount of such
contributions or earnings, the Employer may make additional contributions to the
account of any affected participant or re-allocate contributions and earnings
within the Investment Fund to place the affected participants' accounts in the
position that would have existed if the error(s) had not been made.

         D. Quarterly account fees associated with a participant's balance in a
Self Directed Fund account during the quarter will be charged to the
participant's non-Self Directed Fund accounts. Commissions, special handling
fees, and other transaction charges associated with transactions in a
participant's Self Directed Fund account will be charged to the participant's
Self Directed Fund account; and investment management fees, brokerage fees, and
other transfer taxes and expenses relating to the purchase or sale of securities
associated with a particular non-Self Directed Fund account will be charged to
such Fund. Trustee fees from Boston Safe Deposit and Trust Company, or a
successor Trustee, will be charged on a pro rata basis to all participant
accounts.

         E. Amounts in the Employer's matching contributions forfeiture account
may, as determined by the Administrative Managers, be used to pay the reasonable
and necessary expenses of the Investment Fund (to the extent that they are not
charged to participant accounts pursuant to paragraph D above), or to reduce
future Employer matching contributions required to be made by the Employer.

                                       7
<PAGE>

IV.      Employee Contributions; Contribution Elections; Investment
         Directions; Conversion Directions; Rollover Contributions
         ----------------------------------------------------------

         Three methods of making contributions to the Investment Fund are
provided: the required basic contribution and the voluntary supplemental
contribution (both pursuant to contribution elections), and the periodic special
contribution.

         Each contribution election of a participant with respect to the
required basic contribution and the voluntary supplemental contribution shall be
made in such manner (including telephonic notice) as the Administrative Managers
may from time to time prescribe and shall specify the participant's: (i)
designation of the percent of his salary to constitute the contribution amount;
(ii) investment direction as to the mode of investment of such contribution; and
(iii) election (a) to have such contribution amount (or, with respect to the
voluntary supplemental contribution and to Part A and Part C participants, a
portion thereof) treated as an "after-tax" contribution and his authorization to
his Employer to withhold from his salary and pay to the Trustee the contribution
amount to his after-tax subaccount(s) and/or (b) to have such contribution
amount (or, with respect to the voluntary supplemental contribution and to Part
A and Part C participants, a portion thereof) treated as a "before-tax"
contribution and his salary deferral agreement with his Employer to defer
payment to him of, and to pay to the Trustee, the contribution amount to his
before-tax subaccount(s). For purposes of Section 401(k) of the Code only, all
amounts designated by a participant as before-tax contributions and credited to
his before-tax subaccounts shall be considered Employer contributions made
pursuant to a participant's election. For purposes of this Article IV, an
employee or participant shall be deemed to have filed the necessary elections or
modifications described in the following paragraphs by providing telephonic
notice in the manner prescribed by the Administrative Managers.

         Contributions, benefits and service credit with respect to qualified
military service will be provided in accordance with Section 414(u) of the Code.

                                       8
<PAGE>

         (i)  The required basic contribution and the voluntary
              supplemental contribution:

         A.1. As a part of, or concurrently with, his participation election,
each Employee who is a Part B participant shall file with CBS a contribution
election, with respect to such Employee's required basic contribution for and
during those of such Employee's payroll periods for which such contribution
election shall be in effect, which shall designate either 1, 1-1/2, 2, 2-1/2,
or, if applicable, 3 or 4 percent of such Employee's salary from his Employer
during such periods as such contribution and which shall include an election to
have all of such contribution amount treated either as an after-tax or as a
before-tax contribution. At any time after filing a contribution election with
respect to a required basic contribution, except as otherwise provided in
Paragraph A of Article VI hereof, a participant may file a modification thereof
either to designate a different permitted percent of his salary as his required
basic contribution, or to change his election as to the after-tax or before-tax
treatment of such contribution amount, or both; provided that, after December
31, 1997, a contribution designation may not be changed from a full percentage
election to a half percentage election.

         Employees who are Part A participants may not make required basic
contribution elections.

         As a part of, or concurrently with, his participation election, each
Employee who is a Part C participant shall file with CBS a contribution
election, with respect to such Employee's required basic contribution for and
during those of such Employee's payroll periods for which such contribution
election shall be in effect, which shall designate either 2, 3, 4, 5, or 6
percent of such Employee's salary from his Employer during such periods as such
contribution and which shall include an election to have all or a portion of
such contribution amount treated as an after-tax or as a before-tax
contribution. At any time after filing a contribution election with respect to a
required basic contribution, except as otherwise provided in Paragraph A of
Article VI hereof, a participant may file a modification thereof either to
designate a different permitted percent of his salary as his required basic
contribution, or to change his election as to the after-tax or before-tax
treatment of such contribution amount, or both. A participant, in filing a
contribution election (or modification thereof) with respect to his required
basic contribution, shall designate which portion (which may be all, or none, or
any percentage thereof divisible by five) of the amount of his salary so
designated shall be treated as an after-tax contribution and which portion
treated as a before-tax contribution, the total of such portions to equal 100
percent of the required basic contribution amount.

                                       9
<PAGE>

              2. At the time of his participation election, or at any time
thereafter (except during any period when a suspension of his contribution
election for his required basic contribution is in effect), a participant whose
required basic contribution is the maximum basic contribution (or who is a Part
A participant) may also file with CBS a contribution election providing for his
Employer to pay to the Trustee as such Employee's voluntary supplemental
contribution to the Investment Fund the percentage therein specified, which may
be any whole number of such Employee's salary from such Employer for those of
such Employee's payroll periods for which contribution elections for his
required basic contribution and for a voluntary supplemental contribution shall
be in effect. Notwithstanding the foregoing, in no event shall the participant's
voluntary supplemental contributions when added to the participant's required
basic contributions exceed 15 percent of the Employee's salary. Any participant
who has filed a contribution election for a voluntary supplemental contribution
may at any time thereafter file with CBS a modification of such contribution
election for his voluntary supplemental contribution as then in effect which
shall provide that his Employer shall pay to the Trustee as such participant's
voluntary supplemental contribution to the Investment Fund a specified
percentage of such participant's salary from such Employer different from the
percentage provided in such participant's voluntary supplemental contribution
election as then in effect. The percentage specified in such a modification
shall be any whole number that does not cause contributions to exceed the 15
percent limitation. A participant, in filing a contribution election (or
modification thereof) with respect to his voluntary supplemental contribution,
shall designate which portion (which may be all, or none, or any percentage
thereof divisible by five) of the amount of his salary so designated shall be
treated as an after-tax contribution and which portion treated as a before-tax
contribution, the total of such portions to equal 100 percent of the voluntary
supplemental contribution amount.

              3. Any participant may also at any time file with CBS a suspension
of such participant's contribution election for his required basic contribution
as then in effect which shall provide that his Employer shall not pay to the
Trustee as such participant's required basic contribution to the Investment Fund
any portion of such participant's salary from such Employer. Such a suspension
of a participant's contribution election for his required basic contribution
shall automatically cause a suspension of his contribution election, if any,
then in effect for a voluntary supplemental contribution. Except as otherwise
provided in Paragraph A of Article VI hereof, any such participant may at any
time file a new contribution election with CBS.

         B.1. As a part of every contribution election each Employee shall also
file with CBS such Employee's direction with respect to the portion of such
Employee's required basic contribution (and voluntary supplemental contribution,
if any)

                                       10
<PAGE>

for each of his payroll periods for which such investment direction shall be in
effect which is to be contributed to any one or more of the available Funds (not
including the Self Directed Fund), and credited to such Employee's account in
each such Fund. Up to 100 percent of the total of an Employee's required basic
contribution and, if any, voluntary supplemental contribution may be directed to
be contributed to any of the available Funds (not including the Self Directed
Fund). All contributions under the Investment Fund shall be effected in
accordance with the provisions of subparagraph 5 of Paragraph B of Article IX
hereof.

              2. Subject to such conditions as the Administrative Managers shall
prescribe on a uniform basis, any participant may from time to time file with
CBS a modification of such participant's investment direction as made in
connection with a contribution election or elections then in effect. Such
modification shall become effective on the next date (of which there shall be
not fewer than two in any calendar year) which the Administrative Managers shall
specify for the effective date of such modifications.

         C. Each Employer shall withhold and/or defer from the payment of the
salary of each participant for each payroll period with respect to which there
shall be a contribution election or elections of such participant in effect the
percentage of the salary of such participant specified in such election or
elections and, as promptly as shall be practicable after such payroll period,
(1) such Employer shall pay to the Trustee the aggregate amount of such
Employer's said withholdings and/or deferrals for such payroll period, and (2)
CBS or its designee shall contribute the amounts so paid to it into the
available Funds (not including the Self Directed Fund), credit such
contributions to the various Fund accounts of the respective participants whose
contributions are so paid to it and credit such amounts to the various available
Funds, all in conformity with the respective investment directions of such
participants for such payroll periods. Such credits as result from contributions
elected to be made on an after-tax basis shall be credited to the after-tax
subaccounts of the Fund accounts of the respective participants, and such
credits as result from contributions elected to be made on a before-tax basis
shall be credited to the before-tax subaccounts of the Fund accounts of the
respective participants.

         (ii) the periodic special contribution:
              ---------------------------------

         A.1. At such intervals and subject to such conditions as the
Administrative Managers shall prescribe on a uniform basis, each participant who
at that time has in effect a contribution election for a required basic
contribution (or is a Part A

                                       11
<PAGE>

participant) shall be provided the opportunity to make a periodic special
contribution, on an after-tax basis, by a cash payment to the Investment Fund.

              2. The amount of any periodic special contribution of a
participant may be in such amount as such participant shall elect but not in
excess of:

                   (a) 140 percent of the total of all his actual contributions,
         if any, made by him to the Investment Fund through payroll
         authorizations at any time from the date he first became a participant
         in the Investment Fund to June 30, 1977 (which amount shall be
         described as a participant's "past frozen credit"), plus

                   (b) the difference, if any, between (i) the total of (y) the
         aggregate amount he could have contributed to the Investment Fund as
         required basic contributions and voluntary supplemental contributions
         subsequent to June 30, 1977 if at all times subsequent to that date he
         had had in effect payroll authorizations (throughout the period ended
         December 31, 1983) and contribution elections (throughout the period
         commencing January 1, 1984) for the required basic contribution and the
         voluntary supplemental contribution for the maximum percentage of base
         salary permitted plus (z) the withdrawals made by him subsequent to
         June 30, 1977, and (ii) the total of all his actual contributions made
         as required basic contributions, voluntary supplemental contributions
         and periodic special contributions to the Investment Fund subsequent to
         June 30, 1977.

              3. Periodic special contributions shall be allocated to available
Funds (not including the Self Directed Fund) pursuant to elections applicable to
required basic contributions and voluntary supplemental contributions.

         (iii)  limitations:
                -----------

         A. Notwithstanding anything contained in the foregoing provisions of
this Article IV, the following rules and limitations shall apply to a
participant's before-tax basic required contributions and, if applicable,
before-tax voluntary supplemental contributions. If the Administrative Managers
shall at any time determine that the spread between the then-current percentage
of salary being contributed to the Investment Fund by means of before-tax
contributions for (i) "highly compensated eligible Employees" and (ii) the
remaining eligible Employees, is such that before-tax contributions under the
Investment Fund would fail to satisfy either of the "actual deferral percentage
tests" for the current plan year (assuming such percentages had been and would
continue in

                                       12
<PAGE>

constant effect for the entire plan year), the Administrative Managers, in their
sole discretion, may unilaterally reduce, on a prospective basis, the maximum
percentage of salary with respect to which such "highly compensated eligible
Employees" elected to defer as before-tax contributions under the Investment
Fund. The participant's salary deferral agreement incorporated in his
contribution election shall be automatically adjusted, without any further
action on the part of such participant or his Employer, to conform to the new
limitation imposed by the Administrative Managers and unless such participant
otherwise instructs CBS in a written notice or such other form of notice
(including telephonic notice) as may be prescribed by the Administrative
Managers, his after-tax contribution agreement incorporated in his contribution
election (if one is then in effect) also shall be automatically adjusted so as
to increase the percentage of his salary which shall be contributed pursuant
thereto by the amount of such automatic adjustment. The Administrative Managers,
in their sole discretion, may at any time remove any limitation imposed by them
under this provision and any modifications to the participant's contribution
election resulting from such limitation shall automatically cease to be
effective and such contribution election shall continue in effect under the
terms that existed immediately prior to such modifications.

         For purposes of this Paragraph A, the following terms shall have the
following meanings:

         "Actual deferral percentage tests" shall mean either of the following:

         1.   the "actual deferral percentage" for the group of "highly
              compensated eligible Employees" is not more than the "actual
              deferral percentage" for all other eligible Employees for the
              preceding plan year multiplied by 1.25; or

         2.   the excess of the "actual deferral percentage" for the group of
              "highly compensated eligible Employees" over the "actual deferral
              percentage" for all other eligible Employees for the preceding
              plan year is not more than two percentage points, and the "actual
              deferral percentage" for the group of "highly compensated eligible
              Employees" is not more than the "actual deferral percentage" of
              all other eligible Employees for the preceding plan year
              multiplied by 2.0.

         "Actual deferral percentage" with respect to any group of active
eligible Employees for a plan year shall mean the average of the ratios
(calculated separately for each eligible Employee in the group) of

                                       13
<PAGE>

         1.   the amount of before-tax contributions authorized by the eligible
              Employee to be paid to the Investment Fund for such plan year, to

         2.   the eligible Employee's salary for such plan year.

         For purposes of determining "actual deferral percentages", any eligible
Employee who is suspended from participation shall be treated as an eligible
Employee. For purposes of determining the actual deferral percentage, any plans
which are treated as one plan for purposes of section 410(b) shall be treated as
one plan. If a highly compensated eligible Employee participates in two or more
plans of an Employer, all contributions under those plans shall be aggregated
for purposes of determining the actual contribution percentage of such highly
compensated eligible Employee.

         The term "highly compensated eligible Employees" includes those
participants who meet the definition of "highly compensated Employee" as
determined under Section 414(q) of the Code and the regulations issued
thereunder. The term "highly compensated Employee" includes highly compensated
active Employees and highly compensated former Employees. A highly compensated
active Employee means an Employee of the Employer or an affiliated company who
performs services for the Employer or an affiliated company during the current
plan year (the "determination year") and who, during the preceding plan year
(the "look-back year"), was an Employee who received compensation in excess of
$80,000 (adjusted for plan years after 1997 at the same time and in the same
manner as under Section 415(d) of the Code). A "highly compensated active
Employee" also includes an Employee who was at any time during the determination
year or the look-back year a five-percent owner of the Employer as defined in
Section 416(i)(1) of the Code.

         A "highly compensated former Employee" means an Employee who separated
from service prior to the determination year, who performed no services for an
Employer during the determination year, and who was a highly compensated active
Employee for either such Employee's separation year or any determination year
ending on or after the Employee's 55th birthday. An Employee who separated from
service before January 1, 1987 will be a highly compensated former Employee only
if the Employee was a five-percent owner or received compensation in excess of
$50,000 during the Employee's separation year (or the year preceding such
separation year) or any year ending on or after such Employee's 55th birthday
(or the last year ending before such Employee's 55th birthday).

         For purposes of determining highly compensated Employees,
"compensation" shall be determined in the same manner as "annual compensation"
in Article XII of the

                                       14
<PAGE>

Plan, increased by before-tax contributions under a cafeteria plan (as defined
in Section 125 of the Code) maintained by the Employer or an affiliated company.

         The determination of highly compensated eligible Employees may be made
by the Administrative Managers on the basis of the "top-paid group" election or
the substantiation guidelines in accordance with such regulations, notices or
other guidance issued under Section 414(q) of the Code.

         Notwithstanding the foregoing, the Administrative Managers may elect to
determine the permissible actual deferral percentage for highly compensated
eligible Employees for any plan year beginning on or after January 1, 1997 on
the basis of the actual deferral percentage of the group of non-highly
compensated employees for the current plan year rather than the preceding plan
year, in accordance with such regulations, notices or other guidance issued
under Section 401(k) of the Code.

         If after the close of any plan year the Administrative Managers shall
determine that the Investment Fund failed to satisfy either of the "actual
deferral percentage tests", the Administrative Managers may utilize any
combination of the following methods to assure that the Investment Fund complies
with one or both of the "actual deferral percentage tests":

         1.   The "excess deferrals" and the income allocable thereto shall be
              distributed to the applicable "highly compensated eligible
              Employees" as soon as practicable after the end of such plan year,
              but no later than 12 months after the close of such plan year; the
              amount of income allocable to each affected highly compensated
              eligible Employee's excess deferrals shall be determined by
              multiplying the income for the plan year allocable to the eligible
              Employee's before-tax contributions (defined below) by a fraction,
              the numerator of which is the highly compensated eligible
              Employee's excess deferrals for the plan year and the denominator
              of which is the sum of: (A) the eligible Employee's account
              balance attributable to before-tax contributions as of the first
              day of the plan year, plus (B) the eligible Employee's before-tax
              contributions for the plan year. The income for the plan year
              allocable to each affected highly compensated eligible Employee's
              before-tax contributions shall be determined by subtracting the
              amount in the denominator of the above-described fraction from the
              account balance attributable to before-tax contributions
              determined as of the last day of the plan year. The amount of
              excess deferrals that may be distributed under this Paragraph A
              with respect to any participant for any plan year shall be

                                       15

<PAGE>

              reduced by the amount of any excess before-tax contributions
              previously distributed pursuant to Paragraph C, if any, for such
              plan year; or

         2.   The "excess deferrals" shall be recharacterized as after-tax
              contributions in accordance with regulations issued under Section
              401(k)(3) of the Code to the extent required to comply with either
              of the "actual deferral percentage tests". Such recharacterized
              amounts shall continue to be treated as before-tax contributions
              for all other purposes under the Code, in accordance with Reg. ss.
              1.401(k)-1(f)(3)(ii)(B).

         "Excess deferrals" shall mean, with respect to each "highly compensated
eligible Employee", the amount equal to total before-tax contributions made on
behalf of the eligible Employee (determined prior to the application of the
leveling procedure described below) minus the product of the eligible Employee's
"actual deferral percentage" (determined after application of the leveling
procedure described below) multiplied by the eligible Employee's salary. In
accordance with the regulations issued under Section 401(k) of the Code, "excess
deferrals" shall be determined by a leveling procedure under which the "actual
deferral percentage" of the "highly compensated eligible Employee" with the
highest such percentage shall be reduced to the extent required to satisfy
either of the "actual deferral percentage tests" or, if it results in a lower
reduction, to the extent required to cause such "highly compensated eligible
Employee's" "actual deferral percentage" to equal the "actual deferral
percentage" of the "highly compensated eligible Employee" with the next highest
"actual deferral percentage". This leveling procedure shall be repeated until
the requirements of either of the "actual deferral percentage tests" are first
satisfied. Once the leveling procedure has been completed, the total dollar
amount of excess deferrals shall be determined. This amount shall be distributed
in accordance with a leveling procedure under which the dollar amount of
before-tax contributions of the highly compensated eligible Employee with the
highest dollar amount of before-tax contributions shall be reduced to the extent
required to distribute the total amount of excess deferrals or, if it results in
a lower reduction, to the extent required to cause such highly compensated
eligible Employee's dollar amount of before-tax contributions to equal the
dollar amount of before-tax contributions of the highly compensated eligible
Employee with the next highest dollar amount of before-tax contributions. This
distribution procedure shall be repeated until all excess deferrals have been
distributed.

         B. Notwithstanding anything contained in the foregoing provisions of
this Article IV or in the provisions of Article V, the provisions on limitations
set forth in Article XII shall apply to limit Employee and Employer matching
contributions in any calendar year which exceed those specified in Article XII.

                                       16
<PAGE>

         C. Notwithstanding anything contained in the foregoing provisions of
this Article IV or in the provisions of Article V, in no event may the amount of
an eligible Employee's before-tax contributions to the Plan, in addition to all
such before-tax contributions under all other cash or deferred arrangements (as
defined in Section 401(k) of the Code) in which an eligible Employee
participates, exceed $7,000 (adjusted for increases in the cost-of-living under
Section 402(g) of the Code) in any calendar year. If in any calendar year an
eligible Employee's total before-tax contributions under the Investment Fund, in
addition to all such salary reduction contributions under all other qualified
cash or deferred arrangements (as defined in Section 401(k) of the Code)
maintained by the Employer or an affiliated company in which the eligible
Employee participates, exceed $7,000 (as adjusted), the excess before-tax
contributions (before-tax contributions in excess of $7,000 (as adjusted))
together with earnings thereon shall be distributed to the eligible Employee as
soon as practicable after the Administrative Managers determine that the excess
before-tax contribution was made, but no later than April 15 of the calendar
year following the calendar year in which the excess before-tax contribution was
made. If an eligible Employee participates in another cash or deferred
arrangement which is not maintained by an Employer or an affiliated company in
any calendar year and his total before-tax contributions under the Investment
Fund and such other plan exceed $7,000 (as adjusted) in a calendar year, he may
request to receive a distribution of the amount of the excess before-tax
contributions (a deferral in excess of $7,000 (as adjusted)) that is
attributable to before-tax contributions in the Investment Fund together with
earnings thereon, notwithstanding any limitations on distributions contained in
the Investment Fund. Such distribution shall be made by the April 15 following
the plan year of the excess before-tax contributions provided that the eligible
Employee notifies the Administrative Managers of the amount of the excess
before-tax contributions that is attributable to before-tax contributions to the
Investment Fund and requests such a distribution. The eligible Employee's notice
must be received by CBS no later than the March 1 following the plan year of the
excess before-tax contributions. In the absence of such notice, the amount of
such excess before-tax contributions attributable to before-tax contributions to
the Investment Fund shall be subject to all requirements on withdrawals and
distributions in the Investment Fund. The amount of excess before-tax
contributions that may be distributed under this Paragraph C with respect to any
eligible Employee for any calendar year shall be reduced by the amount of any
excess deferrals previously distributed pursuant to Paragraph A of this Article
IV, if any, for such year. The amount of earnings allocable to each affected
Employee's excess before-tax contributions shall be determined by multiplying
the income for the plan year allocable to the Employee's before-tax
contributions by a fraction, the numerator of which is the Employee's excess
before-tax contributions for the calendar year, and the denominator of which is
the sum of: (A) the Employee's account balance attributable to

                                       17
<PAGE>

before-tax contributions as of the first day of the calendar year, plus (B) the
Employee's before-tax contributions for the calendar year. The earnings for the
calendar year allocable to each affected Employee's before-tax contributions
shall be determined by subtracting the amount in the denominator of the
above-described fraction from the account balance attributable to before-tax
contributions determined as of the last day of the calendar year.

         D. Notwithstanding anything contained in the foregoing provisions of
this Article IV or in the provisions of Article V, the following rules and
limitations shall apply to a participant's after-tax basic required
contributions, after-tax voluntary supplemental contributions, Employers'
matching contributions, and, if applicable, after-tax periodic special
contributions. If the Administrative Managers shall at any time determine that
the spread between the Employers' matching contributions and the then current
percentage of salary being contributed to the Investment Fund by means of
after-tax contributions for (1) "highly compensated eligible Employees" of the
Employers, and (2) the remaining eligible Employees is such that Employers'
matching contributions and after-tax contributions under the Investment Fund
would fail to satisfy either of the "actual contribution percentage tests" or
the "multiple use test" for the current plan year (assuming such percentages had
been and would continue in constant effect for the plan year), the
Administrative Managers, in their sole discretion, may unilaterally reduce, on a
prospective basis, the maximum percentage of salary with respect to which
"highly compensated eligible Employees" elected to contribute as after-tax
contributions under the Investment Fund. The participant's after-tax
contribution agreement incorporated in his contribution election shall be
automatically adjusted, without any further action on the part of such
participant or his Employer, to conform to the new limitation imposed by the
Administrative Managers. The Administrative Managers, in their sole discretion,
may at any time remove any limitation imposed by it under this provision and any
modifications to the participant's contribution election resulting from such
limitation shall automatically cease to be effective and such contribution
election shall continue in effect under the terms that existed immediately prior
to such modifications.

         For purposes of this Paragraph D, the following terms shall have the
following meanings:

         "Actual contribution percentage test" shall mean either of the
following:

         1.   The "actual contribution percentage" for the group of "highly
              compensated eligible Employees" is not more than the "actual
              contribution percentage"

                                       18
<PAGE>

              for all other eligible Employees for the preceding plan year
              multiplied by 1.25; or

         2.   The excess of the "actual contribution percentage" for the group
              of "highly compensated eligible Employees" over the "actual
              contribution percentage" of all other eligible Employees for the
              preceding plan year is not more than two percentage points, and
              the "actual contribution percentage" for the group of "highly
              compensated eligible Employees" is not more than the "actual
              contribution percentage" of all other eligible Employees for the
              preceding plan year multiplied by 2.0.

         "Actual contribution percentage" with respect to any specified group of
active eligible Employees for a plan year shall mean the average of the ratios
(calculated separately for each eligible Employee in the group) of:

         1.   the amount of Employers' matching contributions and after-tax
              contributions, plus the amount of any before-tax contributions
              recharacterized pursuant to Article IV, the amount of any
              before-tax contributions treated as Employers' matching
              contributions for purposes of the "actual contribution percentage
              test", contributed to the Investment Fund on behalf of each such
              eligible Employee for such plan year, to

         2.   the eligible Employee's salary for such plan year.

         For purposes of determining "actual contribution percentages", any
eligible Employee who is suspended from participation shall be treated as an
eligible Employee. In all events, "actual contribution percentages" will be
determined in accordance with all of the applicable requirements of Section
401(m) of the Code and the regulations issued thereunder. For purposes of
determining the actual contribution percentage, any plans which are treated as
one plan for purposes of section 410(b) shall be treated as one plan. If a
highly compensated eligible Employee participates in two or more plans of an
employer, all contributions under those plans shall be aggregated for purposes
of determining the actual contribution percentage of such highly compensated
eligible Employee.

         Notwithstanding the foregoing, the Administrative Managers may elect to
determine the permissible actual contribution percentage for highly compensated
eligible Employees for any plan year beginning on or after January 1, 1997 on
the basis of the actual contribution percentage of the group of non-highly
compensated employees for the

                                       19
<PAGE>

current plan year rather than the preceding plan year, in accordance with such
regulations, notices or other guidance issued under Section 401(m) of the Code.

         The term "highly compensated eligible Employee" shall have the same
meaning as in Article IV, Paragraph A.

         The term "multiple use test" shall mean the rules prohibiting the
multiple use of the alternative limitation described in Section
401(k)(3)(A)(ii)(II) and Section 401(m)(2)(A)(ii) of the Code, and the
provisions of Treas. Reg. Section 1.401(m)-2(b) and any further guidance issued
thereunder.

         If after the close of any plan year the Administrative Managers shall
determine that the Investment Fund failed to satisfy either of the "actual
contribution percentage tests", the Administrative Managers may utilize any
combination of the following methods to assure that the Investment Fund complies
with one or more of the "actual contribution percentage tests":

         1.   The "excess aggregate contributions" made with respect to "highly
              compensated eligible Employees" with respect to such plan year,
              and any income allocable thereto, determined in accordance with
              regulations issued under Section 401(m) of the Code, shall be
              distributed to the applicable "highly compensated eligible
              Employees" in an amount equal to each such Employee's after-tax
              contributions (including recharacterized before-tax contribution)
              as soon as practicable after the end of such plan year, but no
              later than 12 months after the close of such plan year.

         2.   If the Investment Fund fails to satisfy either of the "actual
              contribution percentage tests" following the distribution of
              after-tax contributions and income described under (1) above, the
              remaining "excess aggregate contributions" made on behalf of
              "highly compensated eligible Employees" with respect to such plan
              year, and the income allocable thereto, determined in accordance
              with regulations under Section 401(m) of the Code shall be
              distributed to the applicable "highly compensated eligible
              Employees" as soon as practicable after the end of such plan year,
              but no later than 12 months after the close of such plan year.

         3.   Before-tax contributions may be treated as Employer matching
              contributions solely for the purposes of satisfying either of the
              "actual contribution percentage tests".

                                       20
<PAGE>

         "Excess aggregate contributions" shall mean with respect to each
"highly compensated eligible Employee," the amount equal to the total Employer
matching contributions made on his behalf and his after-tax contributions
(including the amount of any before-tax contributions recharacterized pursuant
to Article IV) determined prior to the application of the leveling procedure
described below minus the product of the eligible Employee's contribution
percentage, determined after the application of the leveling procedure described
below, multiplied by the eligible Employee's compensation. Under the leveling
procedure, the contribution percentage of the "highly compensated eligible
Employee" with the highest such percentage is reduced to the extent required to
enable the Plan to satisfy either of the "actual contribution percentage tests",
or it results in a lower reduction, to the extent required to cause such
eligible Employee's contribution percentage to equal that of the "highly
compensated eligible Employee" with the next highest contribution percentage.
This leveling procedure is repeated until the Plan complies with either of the
"actual contribution percentage tests". Once the leveling procedure has been
completed, the total dollar amount of excess aggregate contributions shall be
determined. This amount shall be distributed in accordance with a leveling
procedure under which the dollar amount of after-tax contributions of the highly
compensated eligible Employee with the highest dollar amount of after-tax and
matching Employer contributions shall be reduced to the extent required to
distribute the total amount of excess aggregate contributions or, if it results
in a lower reduction, to the extent required to cause such highly compensated
eligible Employee's dollar amount of after-tax and matching Employer
contributions to equal the dollar amount of after-tax and matching Employer
contributions of the highly compensated eligible Employee with the next highest
dollar amount of after-tax and Employer matching contributions. This
distribution procedure shall be repeated until all excess aggregate
contributions have been distributed. In no case shall the amount of "excess
aggregate contributions" with respect to any "highly compensated eligible
Employee" exceed the after-tax contributions and Employer matching contributions
made on behalf of such eligible Employee in any plan year.

         E. Notwithstanding anything to the contrary in this Article IV,
Employer matching contributions, before-tax contributions and after-tax
contributions may not be made to this Investment Fund in violation of the
"multiple use test." If such multiple use occurs, the actual contribution
percentages for all "highly compensated eligible Employees" (determined after
applying the "actual deferral percentage" and "actual contribution percentage"
tests) shall be reduced in accordance with Treas. Reg. Section 1.401(m)-2(c) and
any further guidance issued thereunder in order to prevent such multiple use of
the alternative limitation.

                                       21
<PAGE>

         F. Notwithstanding anything in the Investment Fund to the contrary, if
the rate of the Employers' matching contributions (determined after application
of the corrective mechanisms described in Paragraph A, Paragraph C and Paragraph
D) discriminates in favor of "highly compensated eligible Employees," the
Employer matching contribution attributable to any excess deferrals, excess
before-tax contributions of each affected "highly compensated eligible Employee"
shall be charged to the participant's Employer matching contributions subaccount
and credited to his Employer's matching contributions forfeiture account so that
the rate of Employer matching contributions is nondiscriminatory. Any such
charges shall be made no later than the end of the plan year following the plan
year for which the Employer's matching contribution was made.

         (iv)  reallocation directions:
               -----------------------

         Subject to such conditions as the Administrative Managers shall
prescribe on a uniform basis, any participant may from time to time reallocate
in whole percentages his various Fund account balances among the various
available Funds, including to and from a Self Directed Fund account. The
following restrictions shall apply, however, to reallocations into the Self
Directed Fund: (I) in order for an amount to be reallocated to a participant's
Self Directed Fund account, the amount in the participant's Self Directed Fund
account immediately following the reallocation may not exceed 50 percent of the
participant's entire Investment Fund account balance (net of any participant
loans); (II) the initial reallocation of amounts into a participant's Self
Directed Fund account may not be in an amount less than $2,500; (III) any
subsequent reallocation of amounts into a participant's Self Directed Fund
account may not be in an amount less than $1,000; (IV) a participant must
complete such application and disclosure documents as are required by the
Administrative Managers to open a Self Directed Fund account; and (V) amounts
reallocated to a participant's Self Directed Fund account may not have been in
the participant's Stable Value Fund account during the 90-day period prior to
the reallocation into the Self Directed Fund account.

         Following a reallocation, amounts that have been transferred shall
retain the after-tax, before-tax, matching, or rollover character which was
attributable to such amounts immediately prior to the reallocation. For
investment reallocation directions filed effective with commencement of daily
valuation under the Investment Fund, any such reallocation direction shall
become effective on the valuation date coincident with or next following the
date on which such investment reallocation direction was made. A participant may
elect to make unlimited reallocations with respect to his accounts in any
calendar quarter.

                                       22
<PAGE>

         A participant's reallocation request (as well as other requests and
elections permitted under this Section IV) may be made on such forms and in such
manner as permitted by the Administrative Managers, including through telephonic
notice procedures.

         (v)  rollover contributions:
              ----------------------

         A. Any Employee who receives an "eligible rollover distribution" from
any qualified plan (or a conduit IRA that satisfies the conditions of Code
Section 408(d)(3)(A)(ii)) shall be eligible to make a rollover contribution of
such "eligible rollover distribution" to the Investment Fund. The Trustee shall
credit the amount of any rollover contribution to the participant's rollover
contributions account, in accordance with the participant's designation, as of
the date the rollover contribution is made.

         B. The term rollover contribution means the contribution of an
"eligible rollover distribution" to the Trustee by the Employee or the trustee
of another "eligible retirement plan" (as defined in Section 402(c)(8)(B) of the
Code).

         C. For purposes of this Section IV.(v), the term "eligible rollover
distribution" means:

            1.   part or all of the amount (other than nondeductible employee
                 contributions) received by such Employee or distributed
                 directly to this Plan on such Employee's behalf from an
                 employee plan and trust described in Code Section 401(a) which
                 is exempt from tax under Code Section 501(a) (or a conduit IRA
                 that satisfies the conditions of Code Section
                 408(d)(3)(A)(ii)).

In all events, such amount shall constitute an "eligible rollover distribution"
only if such amount qualifies as such under Code Section 402(c) and the
regulations and other guidance thereunder and is a distribution of all or any
portion of the balance to the credit of the Employee from the distributing plan
or conduit IRA other than any distribution: (1) that is one of a series of
substantially equal periodic payments (not less frequently than annually) made
for the life (or life expectancy) of the distributee or for a specified period
of ten years or more; (2) to the extent such distribution is required under Code
Section 401(a)(9); (3) to the extent such distribution is not includible in
gross income (determined without regard to the exclusion for net unrealized
appreciation with respect to employer securities); or (4) that is made to a
non-spouse beneficiary.

                                       23
<PAGE>

            2.   Once accepted by the Trust, an amount rolled over pursuant to
                 this Section IV.(v) shall be credited to the participant's
                 accounts, and invested in the funds in accordance with the
                 participant's directions for such amounts. Thereafter, such
                 rolled over amounts shall be administered and invested in
                 accordance with Article IV and subject to the distribution
                 provisions set forth in Article VI. For purposes of Article VI,
                 except as otherwise provided in Paragraph G of Article VI,
                 rolled over amounts shall be subject to the same provisions as
                 a participant's before-tax subaccount. The limitations of
                 Article IV, Section (iii) and Article XII shall not apply to
                 rollover contributions. All rollover contributions shall be
                 made in cash and shall be fully vested. No Employer's matching
                 contributions shall be made with respect to rollover
                 contributions.

                                       24
<PAGE>

V.       Employer's Matching Contributions
         ---------------------------------

         A. Part A Participants. This Section V.A shall apply to Part A
participants and only to Part A participants. Such Part A participants who are
employed on the last day of a plan year (or who retire or experience a
disability during the plan year) or such other Part A participants as are
established by the Administrative Managers as eligible to receive a
discretionary Employer matching contribution may be eligible to receive a
discretionary Employer matching contribution based on their before-tax
contributions up to as much as 5% of salary. Whether such a discretionary
matching contribution shall be made, which Part A participants shall be eligible
to receive the discretionary matching contribution, how much of a Part A
participant's before-tax contributions (not exceeding 5% of salary) shall be
eligible for matching, how much the Employer shall contribute for each dollar of
before-tax contributions that are eligible for matching, and the other terms of
such a discretionary matching contribution, are entirely within the discretion
of the Administrative Managers, to be determined on an annual basis.

         B. Part B Participants. This Section V.B shall apply to Part B
participants and only to Part B participants. Except as otherwise provided in
the last sentence of this paragraph, as of and as promptly as shall be
practicable after the close of each pay period, (a) each Employer shall pay to
the Trustee, as such Employer's matching contribution, the amount which will
enable CBS or its designee to effect the credits hereinafter in this Article V
referred to in the Employer matching contribution subaccounts of those Part B
participants whose required basic contributions shall be or shall have been paid
to the Trustee by such Employer as of such valuation date, and (b) CBS or its
designee shall credit such matching contributions to Part B participants'
Employer matching contributions subaccounts. Notwithstanding the foregoing
provisions of this Article V, no Employer shall make a matching contribution as
of any valuation date in excess of whichever shall be greater of the amount of
such Employer's earnings and profits for such Employer's taxable year in which
such valuation date shall occur or the amount of such Employer's earnings and
profits as of the end of such taxable year, prior, in either case, to any charge
for such contribution; if and to the extent that any Employer shall not be able
to make such a matching contribution because it shall have insufficient such
earnings and profits, the other Employers shall, in such proportions as the
Administrative Managers shall determine and subject to the same limitations
based upon their earnings and profits, make such matching contribution on behalf
of such first-mentioned Employer. With respect to a Part B participant for whom
the numerical total of his or her attained years of age plus the full years of
his or her continuous employment period is less than 55, the Employer's matching
contribution to be credited to such Part B participant's Employer matching
contribution subaccount shall be of a value equal to 100% of his or her required
basic contribution. With respect to a Part B participant whose required basic
contribution

                                       25
<PAGE>

is the maximum permitted amount of 2-1/2 percent of his or her salary and for
whom the numerical total of his or her attained years of age plus the full years
of his or her continuous employment period equals 55 or greater, the Employer's
matching contribution to be credited to such Part B participant's Employer
matching contribution subaccount shall be increased to be of a value equal to
(i) 120 percent of his or her required basic contribution if the Part B
participant has not attained age 50 or (ii) 160 percent of his or her required
basic contribution if the Part B participant has attained age 50. Such increased
rate of Employer's matching contribution shall become effective as of and as
promptly as shall be practicable after January 1 of the year in which a Part B
participant shall satisfy the one or several requirements for entitlement
thereto, but shall be made only if the total of the Part B participant's
required basic contribution election and voluntary supplemental contribution
election as then in effect, as a percentage of the Part B participant's salary,
equals or exceeds such increased rate. The manner for payment, conversion,
charging and crediting of Employer's matching contributions at such increased
rates shall be identical to that provided in the first sentence of this Article,
and the making thereof shall not be deemed to contravene the final sentence of
this paragraph. No Employer matching contributions shall be made with respect to
voluntary supplemental contributions or periodic special contributions of a Part
B participant.

         C. Part C Participants. This Section V.C shall apply to Part C
participants and only to Part C participants. Effective as of the last business
day of each calendar month, for each dollar of required basic contributions a
Part C participant contributes on either an after-tax basis or a pre-tax basis,
his Employer shall contribute fifty cents (50(cent)) into the Part C
participant's Employer matching contributions account; provided that such
Employer Match Contribution may, at the discretion of the Administrative
Managers, be made in the form of shares of Viacom Inc. Stock equal in value to
the Employer matching contribution as determined based on the closing price of
Viacom Inc. Stock on the New York Stock Exchange as of the last business day of
such calendar month, rather than in cash, with respect to each Part C
participant (i) who is not represented by a labor organization or other
representative which is recognized by an Employer as a representative for the
purpose of collective bargaining, or (ii) who is represented by a labor
organization or other representative which is recognized by an Employer as
representative for the purpose of collective bargaining, to the extent that such
labor organization or other representative makes a request that represented Part
C participants be eligible for Employer matching contributions in the form of
shares of Viacom Inc. Stock and the Administrative Managers designated such
represented Part C participants as eligible for Employer matching contributions
in the form of shares of Viacom Inc. Stock.

                                       26
<PAGE>

         D. Employer matching contributions and service credit with respect to
qualified military service will be provided in accordance with Section 414(u) of
the Code.

         E. Effective January 1, 1997, Employer matching contributions which are
credited to a participant's Employer matching contributions subaccount shall be
invested in the Company Stock Fund. At any time following the date on which such
Employer matching contributions are credited to a participant's Employer
matching contributions subaccount, the participant may elect, in accordance with
Paragraph (iv) of Article IV to reallocate the amount of such Employer matching
contributions held in the Company Stock Fund to other investment alternatives
available under the Plan.

                                       27
<PAGE>

VI.      Termination of Participation; Withdrawals;
         Determination and Payment of Benefits
         ------------------------------------------

         A.1. Nothing contained herein shall require any Employer to continue
any participant in its employ, or require any participant to continue in the
employ of any Employer, or require any Employer to continue to pay compensation
to any participant during a leave of absence, or require any Employer to pay
compensation to any participant during a leave of absence at the same rate as
prior to the commencement thereof. Except as otherwise provided in the next
sentence of this Paragraph A, if the employment of any participant by an
Employer shall terminate for any reason whatever, including his death, his
participation in the Investment Fund shall terminate as of the date of such
termination of employment. In any event, (a) if, concurrently with the
termination of the employment of a participant by any of the Employers, such
participant shall become an employee of a non-Fund subsidiary, or (b) if a
participant shall either (i) be transferred to a group of employees not
determined by the Board to be eligible to participate in the Investment Fund or
(ii) become an employee whose principal terms and conditions of employment are
subject to the terms of a collective bargaining agreement which does not provide
for eligibility for participation in the Investment Fund, his participation in
the Investment Fund shall not terminate until the business day on which he shall
no longer be an Employee of any of the Employers or an employee of any non-Fund
subsidiary and he shall be deemed to have suspended his contribution election as
then in effect for those of his consecutive payroll periods which shall be
co-extensive with the period during which he shall be an employee of a non-Fund
subsidiary or any employee included in such an ineligible group or an employee
whose principal employment terms and conditions are subject to such a collective
bargaining agreement, as the case may be, and such contribution election shall
not be subject to renewal during such payroll periods.

              Notwithstanding the preceding paragraph or any other provisions of
the Plan to the contrary, if a participant's employment with an Employer is
terminated due to the transfer by CBS of certain in-house functions to a
corporation or other service provider which is not an affiliated company of CBS,
such participant shall be treated as having "separated from service" for
purposes of section 401(k)(2)(B)(i)(I) of the Code and shall be eligible for a
termination benefit in accordance with Paragraph C.

         B.1. A participant may file with CBS or its designee a request to have
paid to him the amount equal to whichever shall be the lesser of (a) the amount
specified in, or computed in accordance with, such request, or (b) the amount
equal to the sum of the value as of the most recent valuation date following
receipt by CBS or its designee of the participant's request (in accordance with
the Administrative Managers' processing rules)

                                       28
<PAGE>

of the participant's after-tax subaccounts (but excluding amounts in the
participant's Self Directed Fund account). Such request shall specify the
extent, if any, to which after-tax subaccount amounts in each of the Funds (not
including the Self Directed Fund) shall respectively be charged to effect such
withdrawal. The Administrative Managers shall, as of and as promptly as shall be
practicable after such valuation date, effect the charges so specified to such
accounts, and make such payment to such participant. After a participant has
attained age 59-1/2, the foregoing provisions limiting the right of withdrawal
to the amount of the after-tax subaccounts shall lapse, and the withdrawal may
be requested and effected of amounts which include the value of the
participant's before-tax, vested Employer matching contributions, and rollover
contributions subaccounts as well as his after-tax subaccounts then credited to
such participant's accounts. A participant's Self Directed Fund account is not
available as a source of withdrawals.

              For purposes of this Paragraph B.1 of Article VI, a participant's
withdrawal request may be made solely through the telephonic notice procedures
(including with participants' consents through endorsement or deposit of the
distributed amounts) in the manner prescribed by the Administrative Managers.
Notwithstanding the foregoing, if a participant's request is made pursuant to
such telephonic notice, the amount payable to such participant shall be based on
the value of the participant's subaccounts as of the valuation date determined
in accordance with the valuation procedures established by the Administrative
Managers and the Trustee for processing such requests. The amount withdrawn
shall be charged on a pro rata basis to each fund in the participant's account
if the participant's request is made pursuant to telephonic notice, unless the
participant separately provides notice to the Administrative Managers or its
designee that the amount withdrawn is to be charged to a specific fund or funds.

              A participant may make no more than two withdrawal requests under
this Paragraph B.1 in any calendar year.

           2. Prior to his attainment of age 59-1/2, a participant who has
already withdrawn the maximum amount allowable under this Article VI may, in
accordance with the foregoing procedures, request a withdrawal, to meet a bona
fide financial emergency, of amounts in the participant's before-tax, vested
Employer matching contributions, and rollover contributions subaccounts thereof.
Any such withdrawal request may be made on such forms and in such manner as
prescribed by the Administrative Managers, including through telephonic notice
procedures (which shall include participants' consents through endorsement or
deposit of the withdrawn amounts). Any withdrawal request granted under this
Paragraph B.2 shall be deemed to be one of the two withdrawal requests under
Paragraph B.1 for the calendar year. In considering and making

                                       29
<PAGE>

determinations upon such hardship requests, the Administrative Managers will act
on the basis of positive evidence which the participant will be required to
furnish, and will make its determinations on a uniform and nondiscriminatory
basis. Consent for such hardship withdrawals will be granted if and only to the
extent that the Administrative Managers determine that (i) the distribution is
necessary in light of immediate and heavy financial needs of the participant,
(ii) the distribution will not exceed the amount required to meet such financial
needs, and (iii) funds to meet such financial needs are not reasonably available
from other resources of the participant. Such determination shall be made in
accordance with the following guidelines:

                   (a) Demonstration of Need. The participant must establish an
         immediate and heavy financial need for a withdrawal of funds pursuant
         to this section. The Administrative Managers shall determine, in a
         nondiscriminatory manner and in accordance with the provisions of
         Section 401(k) of the Code, whether a participant has a financial
         hardship. For this purpose, the term "financial hardship" shall be
         determined in accordance with the regulations issued pursuant to
         Section 401(k) of the Code and any other notices or rulings of general
         applicability issued under Section 401(k) of the Code and, to the
         extent permitted by such regulations, shall be limited to any financial
         need arising from: (1) medical expenses previously incurred or expenses
         necessary to obtain medical care not covered by insurance and arising
         from serious illness, accident or total disability of the participant
         or any member of his family, (2) expenses relating to the payment of
         tuition for the next 12 months of post-secondary education of a
         participant, his spouse or dependent, (3) the expenses (excluding
         mortgage payments) required for the purchase of a primary residence for
         the participant, or (4) expenses relating to the need to prevent the
         eviction of the participant from his principal residence or foreclosure
         on the mortgage of the participant's principal residence.

                   (b) Amount of Hardship Withdrawal. The amount of any
         withdrawal by a participant under subsection (a) above shall not exceed
         the amount required to meet the immediate financial need created by the
         hardship. In no event may the amount of any withdrawal exceed the
         lesser of: (1) the total value of the participant's before-tax
         contributions determined as of December 31, 1988 (taking into account
         earnings and losses attributable to such amounts), plus the total
         amount of the participant's before-tax contributions that are made
         after December 31, 1988, or (2) the value of all before-tax
         contributions made to the Plan (taking into account earnings and losses
         attributable to such amounts).

                                       30
<PAGE>

                   (c) Availability of Other Resources. In order to make a
         withdrawal under this paragraph, the participant must establish that he
         cannot relieve the financial hardship with assets that are reasonably
         available to the participant from other resources of the participant.
         For this purpose, the Administrative Managers may reasonably rely upon
         a participant's representation that the financial hardship cannot be
         relieved through: (i) reimbursement or compensation by insurance or
         otherwise, (ii) reasonable liquidation of the participant's assets, to
         the extent such liquidation would not itself cause an immediate and
         heavy financial need, (iii) cessation of before-tax contributions and
         after-tax contributions under the Investment Fund, or (iv) nontaxable
         (at the time of the loan) loans from plans maintained by the Employer
         or by any other employer or by borrowing from commercial sources on
         reasonable commercial terms (except to the extent any such borrowing
         would fail to alleviate the hardship or the repayment of such borrowing
         would cause a financial hardship). A participant's resources shall be
         deemed to include those assets of his spouse and minor children that
         are reasonably available to the participant. In the absence of such
         representations, a participant shall be deemed to have no other
         resources reasonably available if: (i) the participant has obtained all
         withdrawals, distributions and loans currently available to the
         participant under the Investment Fund and all other plans maintained by
         the Employer or an affiliated company (except to the extent any such
         borrowing would fail to alleviate the hardship or the repayment of such
         borrowing would cause a financial hardship); and (ii) the amount of the
         participant's before-tax contributions under the Investment Fund and
         under all plans maintained by the Employer or an affiliated company for
         the year following the year of the withdrawal are limited to the
         applicable limit under Section 402(g) of the Code for such year minus
         the participant's before-tax contributions for the year of the hardship
         withdrawal.

         C.1.   Except as otherwise provided in Paragraph E of this Article VI,
each participant whose employment (and participation) shall terminate at any
time for any reason whatever shall be entitled to receive as a termination
benefit the amount equal to the value on the valuation date immediately
following or coincident with his termination date of the amounts credited to his
before-tax subaccounts, after-tax subaccounts, and rollover contribution
subaccounts, all as of such termination date; provided that, amounts must have
been reallocated from his Self Directed Fund account to another available Fund
before such amounts are available for distribution.

           2. Except as otherwise provided in Paragraph E of this Article VI,
each participant whose employment (and participation) shall terminate either (a)
for any reason on or subsequent to his 65th birthday or (b) at any time by
reason of his death or his

                                       31
<PAGE>

disability or (c) at any time prior to his 65th birthday when his continuous
employment period shall be three or more years, shall be entitled to receive as
a termination benefit the amount equal to the value on the valuation date
immediately following or coincident with his termination date of the amounts
credited to his Employer matching contributions subaccounts; provided that,
amounts must have been reallocated from his Self Directed Fund account to
another available Fund before such amounts are available for distribution.

           3. Except as otherwise provided in Paragraph E of this Article VI,
each participant whose employment (and participation) shall terminate, other
than by reason of his death or his disability, at any time prior to his 65th
birthday when his continuous employment period shall be less than three years,
shall be entitled to receive as a termination benefit the amount equal to the
value on the valuation date immediately following or coincident with his
termination date of the vested amounts credited to his Employer matching
contributions subaccounts as of such termination date. If a participant
terminates employment prior to the date on which he is fully vested in his
account and receives a distribution of such account, the Administrative Managers
shall, as of and as promptly as shall be practicable after such valuation date,
charge to such former participant's Employer matching contributions subaccount
and credit to his Employer's matching contributions forfeiture account, the
unvested Employer matching contributions units credited to such former
participant's Employer matching contributions subaccount as of such termination
date; provided, however, that if such participant returns to employment before
incurring five consecutive one-year breaks-in-service, he shall be entitled to
repay to the Investment Fund the amount of his termination benefit attributable
to his Employer matching contributions subaccount if such repayment is made
prior to the fifth anniversary of his resumption of employment. In that event,
such participant shall have credited to his Employer matching contributions
subaccount the unvested Employer matching contributions amounts which were
credited to his account as of his prior termination date and the Employer's
matching contributions forfeiture account shall be charged in an identical
amount.

         D. Upon the termination of a participant's employment (and
participation) at any time for any reason whatever, and upon the termination of
a participant's employment (but not his participation) under the circumstances
referred to in the third sentence of Paragraph A of this Article VI, his
Employer shall repay to such former participant (or, in the event of his death,
to his executors or administrators) or to such participant any amounts withheld
or deferred from his salary, pursuant to a contribution election in effect prior
to such termination, which have not been transferred to the Trustee.

                                       32
<PAGE>

         E.1. (a) Any participant may file with CBS an election to have his
termination benefit (other than a termination benefit payable by reason of his
death) paid in a single payment or in a series of monthly or annual installments
over a period not exceeding the lesser of 20 years or the life expectancy of
such participant or the life expectancy of such participant and any individual
designated as a beneficiary by such participant, provided that if the
beneficiary is not the spouse of the participant, the present value of the
installments payable to the participant shall at least equal 50 percent of the
present value of the total installments payable to the participant and his
beneficiary. Such single payment or the first such installment payment shall be
made at the time specified in such election but not later than April 1 of the
calendar year following the later of the calendar year in which such participant
attains age 70-1/2, or the year in which such participant retires. If a
participant is receiving his termination benefit in a series of installments and
dies before his entire interest has been distributed to him, the balance of his
termination benefit shall continue to be paid in such installments or, if his
beneficiary so elects, in a single payment. The value of his termination
benefit, if made in a single payment, shall be determined as of the valuation
date determined in accordance with the procedures established by the
Administrative Managers and the Trustee for processing distributions. The
valuation date for any installment payment shall be the valuation date on which
the installment payment is processed, in accordance with procedures established
by the Administrative Managers and the Trustee.

         (b) Any participant may file with CBS an election to have a termination
benefit payable by reason of his death paid in a single payment to be paid to
his beneficiary at the time specified in such election but not later than five
years after the date of his death or in a series of monthly or annual
installments to an individual designated as his beneficiary over a period not
exceeding the lesser of 20 years or the life expectancy of such beneficiary and
beginning at the time specified in such election but not later than one year
after the date of his death (or if the participant's beneficiary is his
surviving spouse, the date on which the participant would have attained age
70-1/2).

         (c) Any participant may also, not less than 30 days prior to his
termination date, modify or revoke any distribution election theretofore made by
him. If any participant shall not have a distribution election in effect on his
termination date, his termination benefit shall be paid to him (or in the event
of his death, to his beneficiaries) in a single payment, provided, that if the
value on the valuation date coincident with or immediately following such
termination date of the amounts credited to his Fund accounts as of such
termination date (or as of the date of any prior distribution or withdrawal)
shall exceed $5,000, his termination benefit shall not be immediately
distributed without his consent. If any participant does not

                                       33
<PAGE>

consent to such a distribution, the termination benefit will not be paid until
the earliest of his attainment of age 70-1/2, his consent to a distribution, or
his death. Upon the earliest of such dates, his entire termination benefit shall
be paid to him or his beneficiary in accordance with the participant's
distribution election. The value of his termination benefit shall be determined
as of the earliest to occur of the valuation date coincident with or (i)
immediately following his attainment of age 70-1/2, or (ii) immediately
following the receipt by CBS of his consent to an immediate distribution, in
accordance with the procedures established by the Administrative Managers and
the Trustee for processing distributions, or (iii) immediately following his
death.

         (d) Prior to July 1, 1997, for the sole purpose of determining a
participant's entitlement to a distribution under this Article VI, except as
provided below, no distribution shall be permitted upon the sale or other
business disposition by CBS or an affiliated company of a trade or business or
the sale by CBS or an affiliated company of its interest in a subsidiary, with
respect to a participant who is employed by such trade or business or subsidiary
immediately prior to such sale or disposition and who continues in the employ of
(i) the employer that acquires the assets of such trade or business or acquires
the interest of such subsidiary or (ii) any other entity related to such
employer.

         Notwithstanding the preceding paragraph or any other provisions of the
Plan, for the sole purpose of determining a participant's entitlement to a
distribution of his entire account under this Article VI, a distribution may be
made on account of the disposition of WCAU-TV, WCIX-TV (provided, however, that
this provision shall not apply to any employee of WCIX-TV who had not received a
distribution as of November 24, 1995 and who continues in the employ of the
corporation that acquired WCIX-TV), WPRI-TV, KTXQ-FM, KRRW-FM, KKRW-FM, or
KLOU-FM with respect to any participant whose employment with an Employer is
terminated due to such disposition and who continues in the employ of the
corporation that acquires WCAU-TV, WCIX-TV, WPRI-TV, KTXQ-FM, KRRW-FM, KKRW-FM,
or KLOU-FM.

         On and after July 1, 1997, a participant shall be entitled to a
distribution upon (i) the sale or other business disposition by CBS or an
affiliated company of at least 85 percent of the assets used by CBS or the
affiliated company in a trade or business to an unrelated corporation which does
not maintain the Plan, but only if the participant continues in the employ of
the employer that acquires the assets of such trade or business or any other
entity related to such employer and only if CBS continues to maintain this Plan,
or (ii) the sale or other disposition by the employer of its interest in a
subsidiary to an unrelated entity which does not maintain the Plan, but only if
the participant continues

                                       34
<PAGE>

in the employ of the employer that acquires the interest of such subsidiary or
any other entity related to such employer and only if CBS continues to maintain
this Plan.

         In accordance with the requirements of Code section 401(k) and the
regulations thereunder, distributions on account of the disposition of WCAU-TV,
WCIX-TV, WPRI-TV, KTXQ-FM, KRRW-FM, KKRW-FM, KLOU-FM or any disposition
described in the immediately preceding paragraph shall be only in the form of a
single sum distribution, and may not be made in the form of installments, as
described in Section E.1.(a) of this Article. In addition, in order for a
participant to receive a distribution on account of such dispositions, the
participant must properly elect to receive such distribution no later than the
end of the second calendar year after the calendar year in which the applicable
disposition occurred.

         (e) To the extent distributions commence in the form of a series of
monthly or annual installments, the Self Directed Fund shall not be available
thereafter as an investment option for amounts not yet distributed.

           2 . (a) A distribution election shall be set forth in a written
notice given to CBS and, if made, such notice shall be given during the 90-day
period before the date the payment of his termination benefit shall commence,
which period shall be extended, if necessary, to include at least the 90 days
after the date the information referred to in section (b) of this subparagraph 2
shall have been given to such participant; provided, however, that if such
participant shall have given notice less than 90 days before the date on which
the payment of his termination benefit shall commence of his intent to terminate
employment, such election period shall end on the later of such date or the 30th
day after the date on which such notice shall have been given, which period
shall be extended, if necessary, to include at least 30 days after the
information referred to in section (b) of this subparagraph 2 shall have been
given to such participant. Elections hereunder shall be revocable during such
election period.

         Notwithstanding the foregoing, distribution of a participant's account
under the Plan may occur prior to thirty (30) days after the Administrative
Managers provide notice pursuant to section (b) of this subparagraph 2,
provided:

              (i) The Administrative Managers inform the participant that he has
         a right to a period of at least thirty (30) days after receiving the
         notice to consider the decision of whether to receive an immediate
         distribution; and

              (ii) the participant, after receiving the notice, affirmatively
         elects to receive an immediate distribution.

                                       35
<PAGE>

                   (b) Within seven days after the commencement of such election
         period, or, if earlier, nine months prior to a participant's attainment
         of age 55, such participant shall be furnished with a notice written in
         non-technical terms of the availability of the distribution election.

           3. Any participant may, in accordance with the provisions of section
(a) of subparagraph 2 of this Paragraph E, file with CBS an election to have
that portion of his termination benefit consisting of amounts credited to his
Company Stock Fund account paid to him (or, in the event of his death, to his
beneficiaries), to the extent possible, in shares of Viacom Inc. Stock in lieu
of in cash ("a stock election"). Any participant may also, in accordance with
such provisions of said section (a), revoke any such election theretofore made
by him.

           4. Notwithstanding any other provisions of Paragraph E of this
Article VI, if a participant is married, any designation of a beneficiary other
than the participant's spouse shall be given effect only if such spouse consents
in writing to such designation and such consent acknowledges that such spouse is
thereby waiving in favor of such other beneficiary the right to receive the
amount payable hereunder upon the death of the participant and such consent is
witnessed by a notary public. The preceding sentence shall not apply to a
designation by a participant who establishes to the satisfaction of the
Administrative Managers that his spouse cannot be located. No designation of a
beneficiary made before a participant is married shall be given effect after the
participant becomes married.

           5. Notwithstanding any other provision of Paragraph E of this Article
VI, a participant shall be deemed to have filed all distribution election forms
or requests and any subsequent modifications or revocations (other than the
designation of beneficiary described in subparagraph 3 of this paragraph E) by
providing telephonic notice in the manner prescribed by the Administrative
Managers (which shall include participants' consents through endorsement or
deposit of the distributed amounts). Notwithstanding the foregoing, if a
participant's request is made pursuant to such telephonic notice, the value of
such participant's termination benefit shall be based on the value of the
participant's termination benefit as of the valuation date determined in
accordance with the valuation procedures established by the Administrative
Managers and the Trustee for processing such requests.

         F.1. If any former participant shall have in effect a distribution
election referred to in section (b) of subparagraph 1 of Paragraph E of this
Article VI, or if any

                                       36
<PAGE>

former participant shall have in effect a distribution election referred to in
section (a) of said subparagraph 1 and shall die prior to the payment of his
termination benefit in full:

                   (a) As of and as promptly as shall be practicable after the
         valuation date immediately following or coincident with such former
         participant's termination date (if such distribution election shall be
         one referred to in said section (b)) or the valuation date immediately
         following or coincident with the date of such former participant's
         death (if such distribution election shall be one referred to in said
         section (a) and such participant shall die prior to the payment of his
         entire termination benefit in full), as the case may be:

                       (i) The Administrative Managers shall determine the value
                   of the amounts credited to such former participant's accounts
                   as of such termination date or as of the date of the death of
                   such former participant, as the case may be.

                       (ii) The Administrative Managers shall charge such
                   amounts, to the extent vested, to such respective accounts.

                       (iii) If such distribution election shall be one referred
                   to in said section (a) or said section (b), the Trustee shall
                   pay to such former participant or his beneficiaries, as the
                   case may be, the amounts so charged.

                   (b) If a stock election of such former participant shall be
         in effect, as of and as promptly as shall be practicable after the
         applicable valuation date referred to in section (a) of this
         subparagraph 1:

                       (i) The Trustee shall distribute to such former
                   participant or his beneficiaries, as the case may be, the
                   largest possible number of full shares of Viacom Inc. Stock,
                   registered in the name of such former participant or his
                   beneficiaries, along with cash for fractional shares, the
                   total value of which shall be equal to the value of the
                   amounts credited to his Company Stock Fund account as of the
                   valuation date or as of the date of the death of such former
                   participant, as the case may be.

                       (ii) The Administrative Managers shall charge the amounts
                   so distributed to the Company Stock Fund account of such
                   former participant.

                                       37
<PAGE>

           2. If any former participant shall have in effect a distribution
election referred to in section (a) of subparagraph 1 of Paragraph E of this
Article VI:

                   (a) As of and as promptly as shall be practicable after the
         valuation date immediately following or coincident with such former
         participant's termination date or the filing by such participant of the
         aforementioned distribution election, whichever shall be the later, and
         (I) if such distribution election shall be one requiring monthly
         installments, as of and as promptly as shall be practicable after each
         subsequent valuation date or (II) if such distribution election shall
         be one requiring annual installments, as of and as promptly as shall be
         practicable after each subsequent valuation occurring during the same
         calendar month as such first-mentioned valuation date, and in either
         case, to and including the valuation date as of which such former
         participant's termination benefit shall have been paid in full, or to
         and including the valuation date immediately following the date of such
         former participant's death (if such former participant shall die prior
         to the payment of his termination benefit in full), as the case may be:

                        (i) The Administrative Managers shall determine the
                    vested amounts then credited to such former participant's
                    accounts.

                        (ii) The Trustee shall pay to such former participant or
                    his beneficiaries, as the case may be, that fraction of the
                    respective amounts determined pursuant to the provisions of
                    subsection (i) of this section (a) the numerator of which
                    shall be one and the denominator of which shall be the total
                    number of installments specified to be paid in the
                    distribution election of such former participant minus the
                    number of such installments paid as of valuation dates prior
                    to the valuation date first referred to in this section (a).

                        (iii) The Administrative Managers shall charge to the
                    Fund accounts of such former participant the fraction
                    determined pursuant to the provisions of subsection (ii) of
                    this section (a) of the respective amounts credited to such
                    accounts as of the valuation date first referred to in this
                    section (a) and make corresponding charges (net of
                    applicable fees) to the Fund accounts.

                   (b) If a former participant's distribution election shall be
         one requiring monthly or annual installments, no stock election shall
         be available under this Paragraph F.

                                       38
<PAGE>

           3. All payments made by the Trustee to any former participant (and/or
his beneficiaries) pursuant to the foregoing provisions of this Paragraph F
shall be subject to such withholding and to such other deductions as shall at
the time of such payment be required by reason of any income tax or other law,
whether of the United States or of any other jurisdiction, and, in the case of
payments to beneficiaries of former participants, the delivery to the Trustee of
all appropriate tax waivers and other documents.

           4. Notwithstanding anything contained herein to the contrary, the
payment of any benefits to any former participant (and/or his beneficiaries)
shall commence, unless such former participant (and/or his beneficiaries) shall
elect otherwise hereunder, not later than the 60th day after the close of the
calendar year in which occurs his 65th birthday or his retirement in a calendar
year thereafter, whichever shall last occur.

           5. Notwithstanding anything contained herein to the contrary, if a
participant shall attain age 70-1/2 on or after January 1, 1988 and prior to
January 1, 1997, whether or not such participant continues as an Employee, such
participant shall commence receiving minimum required distributions in
accordance with the requirements of Section 401(a)(9) of the Code and the
regulations and other guidance thereunder unless such participant had not
received any minimum required distributions as of December 31, 1996. If such
participant fails to request a withdrawal in accordance with the otherwise
applicable provisions of Article VI, he shall receive minimum distributions for
each year beginning no later than April 1 of the calendar year following the
year in which he attains age 70-1/2 and by each December 31 thereafter based on
the participant's life expectancy determined without recalculation. Such minimum
required distributions shall continue to be made until the participant's entire
interest has been paid. In all events, distributions will comply with the
incidental death benefits requirements of Section 401(a)(9)(G) of the Code and
the regulations issued thereunder.

         If a participant shall attain age 70-1/2 on or after January 1, 1997
and/or attained age 70-1/2 on or after January 1, 1996 and has not commenced
receiving minimum required distributions in accordance with Section 401(a)(9) of
the Code prior to January 1, 1997, such participant shall commence receiving
minimum required distributions in accordance with the requirements of the Code
and the regulations and other guidance thereunder not later than the April 1
following the close of the later of (i) the calendar year in which the
participant attains age 70-1/2, or (ii) the calendar year in which the
participant terminates employment.

           6. Any benefits payable to a participant or beneficiary which are not
claimed for a period of five years from the date of entitlement, as determined
by the

                                       39
<PAGE>

Administrative Managers and following a diligent effort to locate such
participant or beneficiary, shall with the approval of the Administrative
Managers be charged to such former participant's or beneficiary's accounts and
credited to his Employer's matching contributions forfeiture account; provided,
however, that if a claim for such forfeited benefits is made by the participant
or beneficiary, all such amounts shall be reinstated to the accounts of the
participant or beneficiary.

           7. If the Administrative Managers shall determine that a participant,
terminated participant, or any other person entitled to a benefit under the
Investment Fund (the "Recipient") is unable to care for his affairs because of
illness, accident, or mental or physical incapacity, or because the Recipient is
a minor, the Administrative Managers may direct that any benefit payment due the
Recipient be paid to his duly appointed legal representative; or if no such
representative is appointed, to the Recipient's spouse, child, parent, or other
blood relative, or to a person with whom the Recipient resides or who has
incurred expense on behalf of the Recipient. Any such payment so made shall be a
complete discharge of the liabilities of the Investment Fund with respect to the
Recipient.

           8. Notwithstanding any other provision of Paragraph F of this Article
VI, a participant shall be deemed to have filed all distribution election forms
or requests and any subsequent modifications or revocations by providing
telephonic notice in the manner prescribed by the Administrative Managers (which
shall include participants' consents through endorsement or deposit of the
distributed amounts). Notwithstanding the foregoing, if a participant's request
is made pursuant to such telephonic notice, or such other procedure as may be
designated by the Administrative Managers to satisfy the requirements of this
subparagraph 8, the value of such participant's termination benefit shall be
based on the value of the participant's termination benefit as of the valuation
date determined in accordance with the valuation procedures established by the
Administrative Managers and the Trustee for processing such requests.

         G.1. The Administrative Managers may determine to make a loan to any
participant who then qualifies as an Employee under Article IX, Paragraph A,
subparagraph 36, or is otherwise a "party in interest" with respect to the
Investment Fund under Section 3(14) of ERISA. The total amount of each loan will
be subject to the following rules:

                   (a) The loan must be for a minimum of $1,000. Loans above the
         minimum amount may be made only in multiples of $100.

                   (b) The maximum amount of the loan will be limited to the
         lesser of:

                                       40
<PAGE>

                        (i) $50,000 (reduced by the highest outstanding balance
                    of any loan from the Investment Fund during the one-year
                    period ending on the date before the date such loan is
                    made), or

                        (ii) one-half of the market value of the vested portions
                    of all the participant's separate accounts on the valuation
                    date determined in accordance with the valuation procedures
                    established by the Administrative Managers and the Trustee
                    for processing loan requests.

                   (c) A participant may have only two outstanding loans at any
         one time and may not have more than one loan per calendar year. One of
         the outstanding loans must be for a primary residence.

           2. Any loan to a participant shall be secured by the pledge of all
the participant's right, title and interest in the vested portion of the
participant's accounts in the Investment Fund, provided, however, that in no
event shall more than 50 percent of the vested portion of the participant's
account, determined at the time the loan is made, be pledged as collateral for
the loan. Such pledge shall be evidenced by the execution of a promissory note
by the participant, which promissory note shall provide that, in the event of
any default by the participant on a loan repayment, the Administrative Managers
shall be authorized (to the extent permitted by law) to deduct the amount of the
loan outstanding and any unpaid interest due thereon from the participant's
wages or salary to be thereafter paid by the Employer, and to take any and all
other actions necessary and appropriate to enforce collection of the unpaid
loan. Such promissory note also shall provide that, in the event that a
participant is eligible for and elects a direct rollover to a qualified plan of
another employer in accordance with Paragraph VI.H. of the Plan, the promissory
note may be assigned by the Plan's Trustee to the trustee of the qualified plan
if such qualified plan agrees to accept a direct rollover of the indebtedness
evidences by such promissory note.

           3. There shall be deducted from the accounts of a participant to whom
a loan is made an amount having a value equal to the principal amount of the
loan plus any loan set-up charge implemented by the Administrative Managers. The
proceeds of any loan shall be charged against the accounts of the borrowing
participant according to the order in which items (i) and (ii) are presented, as
the amounts described in each successive paragraph are exhausted: (i) before-tax
subaccounts; (ii) rollover subaccounts; (iii) after-tax subaccounts; and (iv)
Employer matching contributions subaccounts. The loan proceeds shall be deducted
from the various investment funds in which the participant's accounts are
invested on a pro rata basis. However, the Self Directed Fund is not available
as a source for loan proceeds.

                                       41
<PAGE>

           4. The rate of interest charged on any loan to a participant shall be
a reasonable rate of interest determined by the Administrative Managers taking
into consideration interest rates being charged under generally prevailing
market conditions. The Administrative Managers shall not discriminate among
participants in the matter of interest rates, but loans granted at different
times may bear different interest rates if, in the opinion of the Administrative
Managers, the difference in rates is justified by a change in general economic
conditions.

           5. Loans shall be repaid in accordance with the following procedures:

                   (a) Any loan to a participant shall be repaid within five
         years of the date on which the loan is made (or upon the participant's
         termination of employment with Employer, if earlier), except that in
         the case of a loan to a participant that is used to acquire a principal
         residence of the participant, such loan may be repaid over a longer
         period of time, not to exceed 15 years, as determined by the
         Administrative Managers. Repayments of principal and interest on any
         loan shall be made by substantially level payments (not less frequently
         than quarterly) by payroll deduction and shall be applied to reduce the
         principal as well as the accrued interest of the loan. Notwithstanding
         the foregoing, any participant whose employment with an Employer is
         terminated due to the disposition of WCAU-TV or WCIX-TV and who
         continues in employment with the entity which acquires WCAU-TV or
         WCIX-TV shall be permitted to continue repayment of any loan
         outstanding at the time of such disposition under the loan's original
         repayment schedule. Such repayment schedule may continue for so long as
         the acquiring entity provides a payroll deduction system whereby such
         participant can continue such repayments. In the event that such
         payroll deduction becomes unavailable or the Administrative Managers
         determine that any affected participant's loan will not be repaid
         through substantially level payments not less frequently than
         quarterly, the provisions of subparagraph 6 shall apply.

                   (b) If a participant is transferred from employment with an
         Employer to employment with an Affiliated Company or another entity
         affiliated with the Employer as the Administrative Managers in their
         discretion may determine, he shall not be treated as having terminated
         employment and the Administrative Managers shall make arrangements for
         the loan to be repaid in accordance with the loan agreement. For this
         purpose, the Administrative Managers may, but are not required to,
         authorize the transfer of the loan to a qualified plan maintained by
         such Affiliated Company. In the absence of such arrangements,

                                       42
<PAGE>

         the loan shall be deemed to be in default, and shall be subject to the
         provisions of subparagraph 6.

                   (c) The Administrative Managers shall have the sole
         responsibility for assuring that a participant timely makes all loan
         repayments. Each loan repayment shall be paid to the Investment Fund,
         and shall be accompanied by written instructions from the
         Administrative Managers that: (1) identify the participant on whose
         behalf the loan repayment is being made; and (2) specify the separate
         accounts of the participant to which the loan repayment should be
         credited and the investment of the loan repayment in accordance with
         the investment procedures of Article IV.

                   (d) A participant may prepay the entire outstanding loan
         balance with respect to the loan at any time without penalty.

                   (e) The Administrative Managers may implement a reasonable
         loan set-up charge for all loans.

           6. In the event of a default by a participant on a loan repayment,
all remaining payments on the loan shall be immediately due and payable. In the
case of any participant who is not entitled to a distribution under Article VI,
the Administrative Managers shall, to the extent permitted by law, deduct the
total amount of the loan outstanding and any unpaid interest due thereon from
the wages or salary payable to the participant by the Employer in accordance
with the participant's promissory note. In addition, the Administrative Managers
shall take any and all other actions necessary and appropriate to enforce
collection of the unpaid loan, although foreclosure on the note and attachment
of security shall not occur until a distributable event occurs under the
Investment Fund with respect to before-tax contributions. In the case of any
participant or beneficiary who is entitled to a distribution or withdrawal under
Article VI, the Administrative Managers shall deduct the total amount of the
loan outstanding and any unpaid interest due thereon from the amounts to be
distributed from the participant's separate accounts under the Investment Fund
in order to satisfy the amount due.

           7. A request by a participant for a loan shall be made in such manner
(including telephonic notice) as the Administrative Managers may prescribe and
shall specify the amount of the loan. The terms and conditions on which the
Administrative Managers shall approve loans shall be applied on a uniform and
reasonably equivalent basis with respect to all participants. Notwithstanding
the foregoing, the Administrative Managers or its representatives may apply
different terms and conditions for loans to Employees who are not actively
employed by an Employer, or for whom payroll

                                       43
<PAGE>

deduction is not available, based on economic and other differences affecting
the individuals' ability to repay any loan.

         If a participant's request for a loan is approved by the Administrative
Managers, the Administrative Managers shall cause the loan to be made in a lump
sum payment of cash to the participant. A participant's consent to the terms of
any such loan may be evidenced by the participant's consent through endorsement
or deposit of the loan proceeds.

         Effective October 1, 1999, the Administrative Managers have retained
Dreyfus Service Corporation ("Dreyfus") to administer the loan program
established in this Article VI, Paragraph G. As soon as practicable after
October 1, 1999, all participant requests for loans shall be directed to
Dreyfus. Loan administration shall be undertaken by Dreyfus as soon as
administratively practicable after October 1, 1999.

           8. All loan repayments by the participant shall be credited to such
separate accounts and reinvested in accordance with the Employee's investment
directions pursuant to Article IV, Part (i), Paragraph (B).

           9. Notwithstanding the foregoing, no loan shall be made to a
participant during the period in which the Administrative Managers are making a
determination of whether a domestic relations order affecting the participant's
account is a qualified domestic relations order, within the meaning of Section
414(p) of the Code. Further, if the Administrative Managers are in receipt of a
qualified domestic relations order with respect to any participant's accounts,
they may prohibit such participant from obtaining a loan until the alternate
payee's rights under such order are satisfied.

           10. In the event that a payment is required to be made to a
beneficiary upon the death of a participant or an alternate payee pursuant to a
qualified domestic relations order, within the meaning of Section 414(p) of the
Code, while the participant whose account is the subject of such order has a
loan outstanding, the Administrative Managers, in their discretion, may direct
that the participant's promissory note be transferred to the beneficiary or the
alternate payee, as applicable.

                                       44
<PAGE>

         H.1. At the request (which shall include a request made pursuant to
telephonic notice procedures established by the Administrative Managers) of a
distributee (which shall mean a participant, a surviving spouse of a
participant, or a spouse or former spouse of a participant that is an
alternative payee under a qualified domestic relations order), and upon consent
of the Administrative Managers, the Trustee shall effectuate a direct rollover
distribution of the amount requested by the distributee, in accordance with
Section 401(a)(31) of the Code, to an eligible retirement plan (as defined in
Section 402(c)(8)(B) of the Code). Such amount may constitute all or part of any
distribution otherwise to be made hereunder to the distributee, provided that
such distribution constitutes an "eligible rollover distribution," as defined in
Section 402(c) of the Code and the regulations and other guidance issued
thereunder. All direct rollover distributions shall be made in accordance with
the following subparagraphs 2 through 6. For purposes of this Paragraph H, the
following terms have the following meanings:

                   (a) The term "eligible rollover distribution" means any
         distribution of all or any portion of the balance to the credit of the
         distributee, except that an eligible rollover distribution does not
         include: any distribution that is one of a series of substantially
         equal periodic payments (not less frequently than annually) made for
         the life (or life expectancy) of the distributee or for a specified
         period of 10 years or more; or any distribution to the extent such
         distribution is required under Section 401(a)(9) of the Code; or any
         distribution to the extent such distribution is not includible in gross
         income (determined without regard to the exclusion for net unrealized
         appreciation with respect to Employer securities).

                   (b) The term "eligible retirement plan" means an individual
         retirement account described in Section 408(a) of the Code, an
         individual retirement annuity described in Section 408(b) of the Code,
         or a qualified trust described in Section 401(a) of the Code, that
         accepts the distributee's eligible rollover distribution. However, in
         the case of an eligible rollover distribution to a surviving spouse, an
         eligible retirement plan is an individual retirement account or
         individual retirement annuity.

                   2. A direct rollover distribution shall only be made to one
eligible retirement plan; a distributee may not elect to have a direct rollover
distribution apportioned between or among more than one eligible retirement
plan.

                   3. Direct rollover distributions shall be made in cash in the
form of a check made out to the trustee of the eligible retirement plan, in
accordance with procedures established by the Administrative Managers, plus
shares of Viacom Inc. Stock otherwise distributable hereunder to the
distributee, which shares shall be registered in a manner

                                       45
<PAGE>

necessary to effectuate a direct rollover under Section 401(a)(31) of the Code.
In addition, if a participant's employment with an Employer is terminated due to
the transfer by CBS of certain in-house functions to a corporation or other
service provider which is not an affiliated company of CBS and if the direct
rollover is to be made to a qualified trust described in Section 401(a) of the
Code, a direct rollover distribution may include a promissory note evidencing
the distributee's indebtedness under the provisions of Paragraph VI.G. of the
Plan.

           4. Amounts attributable to after-tax Employee contributions shall be
distributed directly to the distributee and may not be distributed in a direct
rollover distribution.

           5. No direct rollover distribution shall be made unless the
distributee furnishes CBS with such information as the Administrative Managers
shall require, including but not limited to: the name of the recipient eligible
retirement plan, a representation from a representative of the recipient plan
that it is an eligible retirement plan, and any account number or other
identifying information.

           6. If a distributee's distribution is otherwise to be paid in the
form of installment payments, the distributee must make a separate direct
rollover distribution request with respect to each calendar year during which
installment payments are made.

           7. If a distributee does not elect a direct rollover distribution
within 60 days following the date that such amounts first become available for
distribution, and the participant's account balance is not greater than $5,000,
the participant's account balance shall be paid to such distributee, reduced by
any applicable income tax withholding, as soon as practicable thereafter.

                                       46
<PAGE>

VII.     The Managers
         ---------

         A. The Financial Managers may at any time or from time to time appoint
one or more investment managers, each of which shall in its sole discretion
direct the Trustee in the investment or reinvestment of all or part of the Trust
Fund under the Trust Agreement as designated by such Financial Managers.

         B. Reserved.

         C. In the event of any disagreement among the Administrative Managers
or Financial Managers at any time acting hereunder and authorized to act with
respect to any matter, the decision of a majority of such Administrative
Managers or Financial Managers authorized to act upon such matter shall be
controlling and shall be binding and conclusive upon all persons, including,
without in any manner limiting the generality of the foregoing, the Employers,
the other Administrative Managers or Financial Managers, the Trustee, all
persons at any time in the employ of any of the Employers and the participants,
the former participants and their respective beneficiaries, and upon the
respective successors, assigns, executors and administrators of all of the
foregoing.

         D. Each additional and each successor Administrative Manager or
Financial Manager at any time acting hereunder shall have all of the rights and
powers (including discretionary rights and powers) and all of the privileges and
immunities hereby conferred upon the original Administrative Managers or
Financial Managers, and all of the duties and obligations so imposed upon the
original Administrative Managers or Financial Managers.

         E. In the event an Administrative Manager or Financial Manager at any
time acting hereunder shall be required to give any bond or other security for
the faithful performance of his duties as an Administrative Manager or Financial
Manager, the cost of such bond or other security shall be paid by CBS.

                                       47
<PAGE>

VIII.    Administration.
         ---------------

         A. CBS shall be the "administrator" of the Investment Fund within the
meaning of Section 3(16)(A) of the Act and shall have the power in its
discretion to administer and construe the Investment Fund, determine questions
of fact and law arising under the Investment Fund, direct disbursements by the
Trustee and exercise the other rights and powers specified herein. The rights,
powers, authority, duties, and obligations of CBS as the administrator of the
Investment Fund are delegated to the Administrative Managers.

         B. CBS, the Administrative Managers, and the Financial Managers may
each retain auditors, accountants and legal counsel selected by them, and CBS,
the Administrative Managers, and the Financial Managers may each retain such
other persons as they deem appropriate in connection with administering the
Investment Fund. Any Administrative or Financial Manager may himself act in any
such capacity, and any such auditors, accountants and legal counsel may be
persons acting in a similar capacity for any Employer and may be Employees of
any Employer. To the extent permitted by law, the opinion of any such auditor,
accountant or legal counsel shall be full and complete authority and protection
in respect of any action taken, suffered or omitted by the Administrative
Managers or Financial Managers in good faith and in accordance with such
opinion.

         C. The Administrative Managers or Financial Managers may allocate
responsibility among themselves, and the Administrative Managers or Financial
Managers may designate other persons to carry out their fiduciary
responsibilities under the Investment Fund, and, without in any manner limiting
the generality of the foregoing, may, by a written instrument, (1) designate
each or any of the Administrative Managers or Financial Managers and/or any
other person or persons, severally or jointly, to execute, on behalf of the
Administrative Managers or Financial Managers, all documents and other
instruments proper, necessary or desirable in order to effectuate the purposes
of the Investment Fund, and (2) revoke or change any such designation
theretofore made. Any Administrative Manager or Financial Manager, acting by
himself, may similarly revoke any such designation theretofore made. Any third
party may rely upon the continued effectiveness of any such designation until
such third party shall have notice of the change or revocation thereof. The
Administrative Managers and Financial Managers may also employ, appoint, and
dismiss advisors and administrators as they deem necessary to carry out the
provisions of the Plan, including attorneys, accountants, actuaries, clerks,
committees, or other agents, and may delegate any of their authority and duties
to such persons.

                                       48
<PAGE>

         D. Each Administrative Manager or Financial Manager who shall not be an
Employee shall be entitled to receive, as compensation for his services
hereunder, such fees as he and CBS may from time to time agree. CBS shall pay
such compensation and shall also pay (and/or reimburse the Administrative
Managers and Financial Managers for) the reasonable expenses incurred by them in
the administration of the Investment Fund, including the fees and compensation
of the persons referred to in Paragraphs A and B of this Article VIII.

         E. To the extent that the Employers and/or the Administrative Managers
shall prescribe forms for use by the participants, the former participants and
their respective beneficiaries in communicating with any Employer, the
Administrative Managers, or the Trustee, the Administrative Managers shall
establish periods during which communications may be received or shall designate
representatives to whom communications shall be delivered, and the Employer, the
Administrative Managers and the Trustee shall respectively be protected in
disregarding any notice or communication for which a form shall so have been
prescribed and which shall not be made in such form, and any notice or
communication for the receipt of which a period shall so have been established
and which shall not be received during such period, and any notice or
communication for the receipt of which a representative shall have been
designated and which shall not be received by such representative. Each
Employer, the Administrative Managers, and the Trustee shall respectively also
be protected in acting upon any notice or other communication purporting to be
signed by any person and reasonably believed to be genuine and accurate.

         F. To the extent permitted by law, all determinations hereunder by an
Employer or the Administrative Managers shall be made in the sole and absolute
discretion of such Employer or of the Administrative Managers, as the case may
be. Neither any Employer nor the Administrative Managers, in making any
determination, or in taking any action, in connection with the administration of
the Investment Fund, shall discriminate in favor of Employees who are officers
or shareholders of any Employer or persons whose principal duties consist of
supervising the work of other Employees or persons who are highly compensated
Employees.

         G. Subject to the applicable provisions of paragraph H of this Article
VIII, in the event that any disputed matter shall arise hereunder, including,
without in any manner limiting the generality of the foregoing, any matter
relating to the eligibility of any person to participate in the Investment Fund,
the participation of any person therein, the amounts payable to any person
hereunder and the applicability and interpretation of the provisions hereof, the
decision of the Administrative Managers upon such matter shall be binding and
conclusive upon all persons, including, without in any manner limiting the
generality

                                       49
<PAGE>

of the foregoing, the Employers, the Trustee, all persons at any time in the
employ of any of the Employers and the participants, the former participants and
their respective beneficiaries, and upon the respective successors, assigns,
executors and administrators of all of the foregoing.

         H. All claims for benefits under the Investment Fund by a participant
or his beneficiary shall be made in writing to a person designated by the
Administrative Managers for such purpose. If the designated person receiving a
claim for benefits believes that the claim should be denied, he shall notify the
claimant in writing of the denial of the claim within 90 days after his receipt
thereof unless he shall prior to the end of such 90-day period notify the
claimant of any special circumstances requiring an extension of time, not to
exceed an additional 90-day period, to respond to such claim and the date by
which it is expected a decision will be rendered. Such notice shall (1) set
forth the specific reason or reasons for the denial, making reference to the
pertinent provisions of the Investment Fund or of Investment Fund documents on
which the denial is based, (2) describe any additional material or information
that must be received before the claim request may be reconsidered and explain
the reason why such material or information, if any, is needed and (3) inform
the claimant of his right pursuant to this Paragraph H to request review of the
decision by the Administrative Managers (as the delegate of the
"administrator"). A claimant who believes that he has submitted all available
and relevant information may appeal the denial of a claim to the Administrative
Managers by submitting a written request for review to the Administrative
Managers within 60 days after the date on which such denial is received. Such
period may be extended by the Administrative Managers for good cause shown. The
person making the request for review may examine pertinent Investment Fund
documents and the request for review may discuss any issues relevant to the
claim. The Administrative Managers shall decide whether or not to grant the
claim within 60 days after receipt of the request for review, but this period
may be extended by the Administrative Managers for up to an additional 60 days
in special circumstances. The Administrative Managers' decision shall be in
writing, shall include specific reasons for the decision and shall refer to
pertinent provisions of the Investment Fund or of Investment Fund documents on
which the decision is based.

         I. Notwithstanding anything in the Trust Agreement to the contrary, the
Financial Managers shall have the sole power to (1) appoint the Trustee, (2)
remove any Trustee then acting hereunder by giving written notice of such
removal to such Trustee, to the other Employers and to the Administrative
Managers, and (3) approve or disapprove the accounting by a retiring Trustee
referred to in the Trust Agreement. The Trustee shall have sole responsibility
for the Trust Fund, except as may otherwise be designated by the Financial
Managers in accordance with law.

                                       50
<PAGE>

         J. Each fiduciary under the Investment Fund shall discharge his duties
with respect to the Investment Fund solely in the interests of the participants
and their beneficiaries with the care, skill, prudence and diligence under the
circumstances then prevailing that a prudent man acting in a like capacity and
familiar with such matters would use in the conduct of an enterprise of a like
character and with like aims. No fiduciary under the Investment Fund shall be
liable for an act or omission of another person in carrying out any fiduciary
responsibility where such fiduciary responsibility is allocated to such other
person by the Investment Fund or pursuant to a procedure established in the
Investment Fund except as otherwise provided in Section 405 of the Act. CBS
hereby indemnifies each Administrative Manager, each Financial Manager, each
officer, and each Employee of the Employers against any liabilities or expenses,
including attorneys' fees, reasonably incurred by him in connection with any
actual or threatened legal action to which he might become a party by reason of
being a fiduciary with respect to the Investment Fund except to the extent that
he shall be adjudged in such action to be liable for gross negligence or willful
misconduct in the performance of his duties as a fiduciary. Any person or group
of persons may serve in more than one fiduciary capacity with respect to the
Investment Fund.

         K. The sole interest of each participant, each former participant and
each beneficiary of a participant or former participant hereunder shall be to
receive the benefits provided for herein as and when the same shall become due
and payable in accordance with the terms hereof, and neither any participant nor
any former participant nor any beneficiary of a participant or former
participant shall have any right, title or interest in or to the Trust Fund or
to any other monies or other properties at any time held by or receivable by the
Trustee. The right of any participant or any former participant and of any
beneficiary of any participant or former participant to receive or have applied
to his use any payment becoming due hereunder shall not be subject to alienation
or assignment, and, if any such participant or former participant or beneficiary
shall attempt to assign, transfer or otherwise dispose of any such right, or if
any such right shall be subjected to attachment, execution, garnishment,
sequestration or other seizure under any legal, equitable or other process, it
shall, if and to the extent that the Administrative Managers shall so determine,
pass and be transferred to such one or more as may be appointed by the
Administrative Managers from among the beneficiaries of such participant or
former participant and the spouse and blood relatives of such participant,
former participant or beneficiary, and in such proportions as the Administrative
Managers shall determine.

             Nothing contained in the foregoing paragraph shall prohibit the
payment of benefits to an 'alternate payee' pursuant to a 'qualified domestic
relations order,' as said

                                       51
<PAGE>

quoted terms are defined in, and in accordance with, Section 206(d) of the Act.
Distributions pursuant to a 'qualified domestic relations order' may be made
prior to the participant's attainment of 'earliest retirement age.' The
Administrative Managers is authorized and directed to develop procedures for the
administration of 'qualified domestic relations orders' including procedures
authorizing a suspension of activity in a participant's account pending a final
determination as to whether such an order will be submitted for review by the
Administrative Managers and whether any such submitted order is qualified.

         L.1. All Viacom Inc. Stock (including fractional shares) representing
amounts credited to a participant's Company Stock Fund account as of the
valuation date preceding by the shortest practicable interval a record date
established generally for fixing the right of holders of Viacom Inc. Stock to
vote shall be voted by the Trustee in accordance with instructions from such
participant. CBS shall provide participants with notices and proxy or
information statements when voting rights are to be exercised, the content of
which must be generally the same as that provided to record holders of Viacom
Inc. Stock. Fractional shares shall be voted by the Trustee on a combined basis,
so as to reflect the instructions of the participants with respect to such
shares. The Trustee shall vote all Viacom Inc. Stock for which it has not
received participants' instructions, including all Viacom Inc. Stock held by it
as of such record date but which is not as of that date allocated to
participants' accounts, in the same manner as a majority of the Viacom Inc.
Stock representing all of the amounts credited to the Common Stock Fund accounts
of participants who have submitted voting instructions is voted.

           2. In the event that a tender or exchange offer or other offer to
purchase Viacom Inc. Stock is made by an individual or entity for all or a
portion of the outstanding Viacom Inc. Stock or the Viacom Inc. Stock held in
the Trust Fund, the Trustee shall not tender or sell any Viacom Inc. Stock held
by it in the Company Stock Fund except upon specific written instructions from
each participant directing that the Viacom Inc. Stock representing amounts
credited to the participant's Company Stock Fund account be so tendered or sold.
CBS shall provide participants with notices and information with respect to any
such offer in a timely fashion so as to permit each participant an opportunity
to submit instructions to the Trustee with respect to his tendering or not
tendering the Viacom Inc. Stock representing such amounts credited to such
participant's Company Stock Fund account.

         M.1. All Infinity Stock (including fractional shares) representing
amounts credited to a participant's Infinity Stock Fund account as of the
valuation date preceding by the shortest practical interval a record date
established generally for fixing the right of holders of Infinity Stock to vote
shall be voted by the Trustee in accordance with

                                       52
<PAGE>

instructions from such participant. CBS shall provide participants with notices
and proxy or information statements when voting rights are to be exercised, the
content of which must be generally the same as that provided to record holders
of Infinity Stock. Fractional shares shall be voted by the Trustee on a combined
basis, so as to reflect the instructions of the participants with respect to
such shares. The Trustee shall vote all Infinity Stock for which it has not
received participants' instructions, including all Infinity Stock held by it as
of such record date but which is not as of that date allocated to participants'
accounts, in the same manner as a majority of the Infinity Stock representing
all of the amounts credited to the Common Stock Fund accounts of participants
who have submitted voting instructions is voted.

           2. In the event that a tender or exchange offer or other offer to
purchase Infinity Stock is made by an individual or entity for all or a portion
of the outstanding Infinity Stock or the Infinity Stock held in the Trust Fund,
the Trustee shall not tender or sell any Infinity held in the Trust Fund except
upon specific written instructions from each participant directing that the
Infinity Stock representing amounts credited to the participant's Infinity Stock
Fund account be so tendered or sold. CBS shall provide participants with notices
and information with respect to any such offer in a timely fashion so as to
permit each participant an opportunity to submit instructions to the Trustee
with respect to his tendering or not tendering the Infinity Stock representing
such amounts credited to such participant's Infinity Stock Fund account.

                                       53
<PAGE>

IX.      Definitions; Construction.
         --------------------------

         A. As used herein and in the Trust Agreement, the following terms shall
have the following respective meanings:

           1. Reserved.

           2. "Account", as used with respect to a participant, shall mean each
         of his Stable Value Fund account, S&P 500 Index Fund account, Value
         U.S. Equity Fund account, Small Cap U.S. Equity Fund account,
         International Equity Index Fund account, Short Term Life Cycle Fund
         account, Medium Term Life Cycle Fund account, Long Term Life Cycle Fund
         account, Company Stock Fund account, Infinity Stock Fund account, and
         Self Directed Fund account, including any loans made to the participant
         under Article VI, Paragraph G, the funds of which are attributable to
         such accounts, and, as used with respect to an Employer, shall mean its
         Employer's matching contributions forfeiture account.

           3. "Act" shall mean the Employee Retirement Income Security Act of
         1974, as it may be amended from time to time.

           3A. "Administrative Managers" shall mean the person(s) appointed by
         Viacom, by written action of the Chief Operating Officer of Viacom, to
         act on behalf of Viacom as the sponsor and "named fiduciary" (within
         the meaning of section 402(a)(2) of ERISA), as appropriate, with
         respect to Plan administrative matters. When performing any activity or
         exercising any authority under the provisions of the Plan, the
         Administrative Managers shall be deemed to act solely on behalf of
         Viacom, and not in an individual capacity.

           4. "Affiliated company" shall mean a corporation or other entity that
         is required to be aggregated with CBS pursuant to Code sections 414(b),
         (c), (m), or (o) of the Code but only to the extent so required.

           5. "After-tax subaccount", as used with respect to a participant,
         shall mean the subaccount established within such Fund accounts, to
         account for contributions thereto made as after-tax contributions.

           6. Reserved.

                                       54
<PAGE>

           7. "Anniversary year". The anniversary year of any Employee shall be
         each 12-month period commencing on the first day of the calendar month
         in which his employment commences.

           8. Reserved.

           9. Reserved.

           10. "Before-tax subaccount", as used with respect to a participant,
         shall mean the subaccount established within such participant's Fund
         accounts, to account for contributions thereto made as before-tax
         contributions.

           11. "Beneficiaries", as used with respect to a participant or a
         former participant, shall mean the surviving spouse of such participant
         or, if such participant has no spouse or if the spouse of such
         participant shall have consented thereto in a writing acknowledging
         that such spouse is thereby waiving in favor of such other
         beneficiaries the right to receive the amount payable hereunder upon
         the death of such participant, and such consent is witnessed by a
         notary public, the person or persons designated by such participant or
         former participant to receive any payments provided for in Paragraph F
         of Article VI hereof, and, if and to the extent that such a designation
         shall not be in force at the time of such payment, his spouse, or if he
         has no spouse, his executors or administrators.

           12. Reserved.

           13. "Board" shall mean both the Board of Directors of CBS and any
         committee which shall be designated by said Board of Directors from
         among its members and which shall have the authority of said Board of
         Directors with respect to the Investment Fund and the Trust.

           14. "Break in service", as used with respect to an Employee, shall
         mean any anniversary year in which he completes less than 501 hours of
         service.

           Solely for purposes of determining whether a break in service has
         occurred, if an Employee is absent from work by reason of her
         pregnancy, the birth of a child of the Employee, or the placement of a
         child with the Employee in connection with the adoption of such child
         by the Employee or for purposes of caring for such child for a period
         beginning immediately following such birth or placement, the Employee
         shall be credited with the hours of service which otherwise would
         normally have been credited to the Employee but for such absence, but
         in no event less than eight hours of service per day of such absence
         and more than 501 hours with respect to any

                                       55
<PAGE>

         one such pregnancy, birth or placement. Such hours of service shall be
         credited to the calendar year in which the absence from work begins
         only if the effect of so doing would be to prevent the occurrence of a
         break in service in such calendar year, and in any other case to the
         immediately following calendar year.

           15. Reserved.

           16. "Business day" shall mean any day on which the New York Stock
         Exchange or any successor to its business is open for trading.

           17. "CBS" shall mean CBS Broadcasting, Inc. and its successors.

           18. "CBS fiscal year" shall mean the period of 12 consecutive monthly
         accounting periods used by CBS in the maintenance of its accounts.

           19. "CBS Combined Pension Plan" shall mean the pension plan adopted
         by CBS on December 16, 1942, as amended prior to December 26, 1968, and
         the pension plan adopted by CBS stockholders on April 20, 1960, as
         amended prior to December 26, 1968, as said pension plans were further
         amended and combined, effective December 26, 1968, and as said pension
         plan was further amended, as in effect at the time with respect to
         which said term is used.

           20. "Code" shall mean the Internal Revenue Code of 1986 as in effect
         at the time with respect to which such term is used.

           21. Reserved.

           22. "Continuous employment period", as used with respect to a
         participant, shall mean such participant's total years of service. For
         purposes of determining a participant's continuous employment period
         under Article VI, Sections C.2 or C.3., if a participant's employment
         with the Employers ceased on account of the disposition of WCIX-TV and
         the participant was not fully vested in his benefit under the Plan on
         the date of such disposition, such participant's years of service shall
         include the participant's years of service in continuous employment
         with the purchaser of WCIX-TV on and after the date of such
         disposition.

           For purposes of determining a participant's continuous employment
         period under Article VI, Sections C.2 or C.3, the continuous employment
         period of a participant who was employed by WPRI-TV or WGPR-TV on the
         date the assets of

                                       56
<PAGE>

         WPRI-TV and WGPR-TV were acquired by CBS shall be deemed to include the
         participant's period of employment with the seller of WPRI-TV and
         WGPR-TV.

           For purposes of determining a participant's continuous employment
         period under Article VI, Sections C.2 or C.3, the continuous employment
         period of a participant who was employed by the Corporation and who
         transfers employment directly from the Corporation to an Employer shall
         be deemed to include the participant's period of employment with the
         Corporation.

           For purposes of determining a participant's continuous employment
         period under Article VI, Sections C.2 or C.3, the continuous employment
         period of a participant who was employed by the seller of TNN/CMT Cable
         Networks prior to the Gaylord Acquisition Date and became an Employee
         of CBS on the Gaylord Acquisition Date shall be deemed to include the
         participant's period of employment with the seller of TNN/CMT Cable
         Networks.

           23. "Contribution" shall mean, unless the context shall otherwise
         clearly require, each of (a) a participant's contribution in any
         category, (b) an Employer contribution, (c) an Employer's matching
         contribution, and (d) a rollover contribution. In particular, a
         participant's "required basic contribution" shall mean that
         contribution described in subparagraph 1 of Paragraph A of Part (i) of
         Article IV hereof; a participant's "voluntary supplemental
         contribution" shall mean that contribution described in subparagraph 2
         of Paragraph A of Part (i) of Article IV hereof; and a participant's
         "periodic special contribution" shall mean that contribution described
         in Part (ii) of Article IV hereof.

           24. "Contribution election", as used with respect to a participant
         and with respect to any time, shall mean such participant's election
         referred to in Article IV hereof.

           25. "Corporation" shall mean Viacom Services Inc., VI Services
         Corporation, and Westinghouse CBS Holding Company, Inc. Prior to the
         date of the close of the CBS / Viacom merger, the "Corporation" was CBS
         Corporation.

           26. Reserved.

           27. Reserved.

           28. Reserved.

                                       57
<PAGE>

           29. "Disability" shall mean a state of physical or mental incapacity
         of a participant such that, in the opinion of the Administrative
         Managers based upon a certificate from a physician or physicians
         satisfactory to the Administrative Managers, such participant, by
         reason of injury, illness or disease, is unable to fulfill the
         requirements of his position as an Employee of his Employer.

           30. "Distribution election", as used with respect to a participant,
         shall mean such participant's election referred to in subparagraph 1 of
         Paragraph E of Article VI hereof or a determination of the
         Administrative Managers not inconsistent with law in lieu thereof.

           31. Reserved.

           32. Reserved.

           33. Reserved.

           34. "Earnings and profits" shall have the same meaning as when used
         in Section 316(a) of the Code.

           35. Reserved.

           36. "Employee" shall mean a person who (a) is principally employed in
         the United States and/or is a citizen of the United States, (b) is not
         included in a group determined by the Board not to be eligible for
         participation in the Investment Fund and (c) is either (i) employed by
         one or more of the Employers as an executive or an office employee or
         as an employee in a classification of hourly employees specified by the
         Board whose terms and conditions of employment are not subject to the
         provisions of a collective bargaining agreement and who (in any such
         category of employment) is a participant under the CBS Pension Plan
         Document component of the CBS Combined Pension Plan or would have been
         such but for his failure to meet the age requirements thereof or (ii)
         employed by one or more of the Employers as an employee whose principal
         terms and conditions of employment are subject to the provisions of a
         collective bargaining agreement which provides for eligibility for
         participation in the Investment Fund or (iii) employed by one or more
         of the Employers in a group determined by the Board to be eligible for
         participation in the Investment Fund. "Employee" shall also mean a
         person (i) who is employed by any foreign subsidiary of CBS to which
         U.S. Social Security coverage has been extended by an agreement entered
         into by CBS under Section 3121(1) of the Code, (ii) as to whom no
         contributions under any other funded plan of deferred compensation are

                                       58
<PAGE>

         being provided by any other person with respect to the remuneration
         paid to such individual by the foreign subsidiary and (iii) who is a
         citizen of the United States; for the purposes of the Investment Fund
         only, CBS shall be deemed to be the Employer of such Employees,
         provided, however, that "Employee" shall not include "leased
         employees". A "leased employee" shall mean any person (other than an
         employee of CBS) who pursuant to an agreement between CBS and any other
         person has performed services for CBS on a substantially full time
         basis for a period of at least one year, and such services are
         performed under the primary direction or control of CBS; provided,
         however, that a leased employee shall not be considered an employee of
         CBS if (i) such employee is covered by a money purchase plan providing:
         (1) a nonintegrated employer contribution rate of at least 10 percent
         of compensation, as defined in section 415(c)(3) of the Code, but
         including amounts contributed pursuant to a salary reduction agreement
         which are excludable from the employee's gross income under section
         125, section 402(a)(8), section 402(h) or section 403(b) of the Code,
         (2) immediate participation, and (3) full and immediate vesting; (ii)
         leased employees do not constitute more than 20 percent of the CBS
         non-highly compensated workforce.

           In addition, "Employee" shall not include any individual who is
         receiving compensation solely from, or who is on the payroll of, an
         Affiliated Company that is not a participating Employer under the Plan.
         Notwithstanding the foregoing, any individual who is receiving
         compensation solely from, or who is on the payroll of, CBS and is an
         employee of an Affiliated Company that is not a participating Employer
         under the Plan shall be deemed to be an Employee hereunder if such
         individual would be an Employee if the individual were rendering
         services to CBS.

           "Employee" shall not include any individual who is employed by
         Infinity Broadcasting Corporation or Infinity Media Corporation, except
         to the extent such individual is covered by a collective bargaining
         agreement that provides for continued eligibility for such individuals
         in the Investment Fund or is the General Counsel of Infinity
         Broadcasting Corporation as of the day following the date of the close
         of the CBS / Viacom merger. Effective January 1, 1999, through the date
         of the close of the CBS / Viacom merger, "Employee" also shall not
         include those individuals who, as of January 1, 1999, are the Chief
         Executive Officer of CBS Corporation and the Senior Vice President -
         Finance of CBS Corporation. Effective as of the day following the date
         of the close of the CBS / Viacom merger, "Employee" also shall not
         include the individual who, as of such date, is the Chief Financial
         Officer of Infinity Broadcasting Corporation.

                                       59
<PAGE>

           37. "Employer" shall mean each of (a) CBS, (b) each subsidiary which
         executes the Trust Agreement as of June 29, 1969 and (c) each
         subsidiary which adopts the Investment Fund and becomes a party to the
         Trust Agreement as provided in Paragraphs A and B of Article X hereof.

           38. "Employer contributions", as used with respect to a participant,
         shall mean those contributions made to such participant's Fund accounts
         on a before-tax basis pursuant to a salary deferral agreement with his
         Employer forming part of his contribution election as in effect from
         time to time.

           39. "Employer matching contributions subaccount", as used with
         respect to a participant, shall mean the separate subaccount which is
         required to be established with respect to such participant as provided
         in Article III hereof.

           40. Reserved.

           41. "Employer's matching contribution" shall mean a payment made to
         the Trustee by an Employer as provided in Article V hereof.

           42. "Employer's matching contributions forfeiture account" shall mean
         the separate account established for purposes of receiving forfeitures
         from participants' accounts pursuant to Sections IV.(iii)F., VI.C.3,
         VI.F.6., and IX.76.d.

           43. "Fiduciary" shall mean any person to the extent that he (a)
         exercises any discretionary authority or discretionary control
         respecting management of the Investment Fund or exercises any authority
         or control respecting management or disposition of its assets, (b)
         renders investment advice for a fee or other compensation, direct or
         indirect, with respect to any moneys or other property of the
         Investment Fund, or has any authority or responsibility to do so, or
         (c) has any discretionary authority or discretionary responsibility in
         the administration of the Investment Fund.

           43A. "Financial Managers" shall mean the person(s) appointed by
         Viacom, by written action of the Chief Operating Officer of Viacom, to
         act on behalf of Viacom as the sponsor and "named fiduciary" of the
         Plan (within the meaning of section 402(a)(2) of ERISA), as
         appropriate, with respect to Plan financial matters. When performing
         any activity or exercising any authority under the provisions of the
         Plan, the Financial Managers shall be deemed to act solely on behalf of
         Viacom, and not in an individual capacity.

                                       60
<PAGE>

           44. "Former participant" shall mean a person whose participation in
         the Investment Fund shall have terminated as provided in Paragraph A of
         Article VI hereof.

           45. "Fund" shall mean each of the Stable Value Fund, the S&P 500
         Index Fund, the Value U.S. Equity Fund, the Small Cap U.S. Equity Fund,
         the International Index Equity Fund, the Short Term Life Cycle Fund,
         the Medium Term Life Cycle Fund, the Long Term Life Cycle Fund, the
         Company Stock Fund, the Infinity Stock Fund, and the Self Directed
         Fund.

           46. "Hour of service", as used with respect to any person employed in
         regularly scheduled part-time employment, shall mean each hour for
         which he shall be directly or indirectly paid or entitled to payment

                   (a) for services he performs for CBS; or,

                   (b) except as expressly provided in the Investment Fund,
         solely for purposes of determining eligibility to participate therein
         and the extent to which his Employer matching contributions shall have
         vested, and subject to the provisions of this Section 36, for services
         he performs for any affiliated company, or any predecessor corporation
         of CBS, or corporation merged, consolidated, or liquidated into CBS or
         its predecessor, or a corporation substantially all of the assets of
         which were acquired by CBS to the extent the Administrative Managers so
         direct consistent with Regulations issued by the Secretary of the
         Treasury.

           With respect to every person employed on a full-time basis, 190 hours
         of service shall be credited for each calendar month in which he has
         actually performed at least one hour of service.

           In addition to the foregoing, the following provisions shall apply,
         where appropriate, to the computation of hours of service. Any Employee
         may be credited with hours of service for each calendar month in which
         he has a leave of absence of at least one calendar day. Any Employee
         may be credited with years of service for any period for which back
         pay, irrespective of mitigation of damages, may be awarded or agreed to
         by CBS or an affiliated company, in which event such hours of service
         shall be credited to each anniversary year to which each such award
         pertains. An Employee shall be credited with hours of service for any
         period for which he is directly or indirectly paid or entitled to
         payment by CBS or any affiliated company for reasons (such as
         vacations, sickness or disability) other than for his performance of
         services, and such hours of service and the computation period or
         periods to which

                                       61
<PAGE>

         such hours shall be credited shall be determined in accordance with
         Section 2530.200b-2 of the Regulations prescribed by the Secretary of
         Labor. Notwithstanding any other provision of the Investment Fund, in
         no event shall any person be credited with hours of service for any
         period prior to January 1, 1976 during which he was employed on other
         than a full-time basis.

           Notwithstanding the foregoing to the extent that records for a
         computation period do not accurately reflect the actual number of hours
         of service required to be credited to a contract employee (i.e., an
         employee who is not classified as a full-time employee or a regularly
         scheduled part-time employee), 45 hours of service shall be credited
         for each calendar week in which a weekly contract employee has actually
         performed at least one hour of service, and 10 hours of service shall
         be credited for each day on which a daily contract employee has
         actually performed at least one hour of service.

           46A. "Infinity Stock" shall mean the Class A common stock of Infinity
         Broadcasting Corporation, or any other common stock which Infinity
         Broadcasting Corporation is authorized to issue at the time with
         respect to which such a term is used.

           47. "Investment direction", as used with respect to a participant and
         with respect to any time, shall mean such participant's direction
         referred to in subparagraph 1 of Paragraph B of Part (i) or in
         subparagraph 3 of Paragraph A of Part (ii) of Article IV hereof, as
         modified prior to the time with respect to which such term is used.

           48. "Investment Fund" or "Plan" shall mean the plan embodied herein.

           49. "Investment manager" shall mean a fiduciary appointed by the
         Financial Managers who (a) has the authority to direct the investment
         and reinvestment of all or any part of the Trust Fund under the Trust
         Agreement; (b) is registered as an investment adviser under the
         Investment Advisers Act of 1940, is a bank as defined in the Investment
         Advisers Act of 1940 or is an insurance company qualified to perform
         services described in clause (a) above under the laws of more than one
         state; and (c) has acknowledged in writing that it is a fiduciary with
         respect to the Investment Fund.

           50. "Leave of absence" shall mean a leave of absence from the employ
         of one or more of the Employers granted, prospectively or
         retroactively, to an Employee at any time for a specific purpose.

                                       62
<PAGE>

           51. "Monthly accounting period" shall mean each calendar month.

           52. "Non-Fund subsidiary" shall mean a subsidiary or affiliate which
         is not an Employer.

           52A. "Part A participants" shall mean all participants except Part B
         participants, if any, and Part C participants, if any.

           52B. "Part B participants" shall mean participants who are not
         employees of the Corporation and are described as follows: no
         participants are Part B participants.

           52C. "Part C participants" shall mean participants who are employees
         of the Corporation and are described as follows: no participants are
         Part C participants.

           53. "Participant", as used with respect to the Investment Fund, shall
         mean an Employee of one or more of the Employers who shall have become
         a participant in the Investment Fund as provided in Paragraph B of
         Article II hereof and whose participation shall not have terminated as
         provided in Paragraph A of Article VI hereof. Such term shall, if the
         context shall permit, include a former participant.

           54. "Participant's contributions", as used with respect to a
         participant, shall mean the amount of such participant's salary
         withheld and/or deferred by his Employer pursuant to such participant's
         contribution election and paid to the Trustee by such Employer as
         provided in Paragraph C of Part (i) of Article IV hereof.

           55. "Participation election" shall mean the election of an Employee
         to become a participant.

           56. "Participation period", as used with respect to a participant,
         shall mean the period during which such participant shall be a
         participant in the Investment Fund.

           57. "Payroll period", as used with respect to a participant, shall
         mean the regular period (whether weekly or biweekly or semimonthly or
         otherwise) on the basis of which such participant's Employer pays such
         participant's salary.

           58. "Plan year" shall mean a calendar year.

                                       63
<PAGE>

           59. "Salary", as used with respect to a participant, with respect to
         an Employer and with respect to a payroll period, shall mean the
         regular compensation paid by such Employer to such participant for such
         payroll period, inclusive of all amounts of regular compensation
         deferred by such participant in accordance with his contribution
         election which are contributed to such participant's Fund accounts on a
         before-tax basis as Employer contributions, but excluding bonus
         payments, overtime compensation, deferred compensation and additional
         compensation of every other kind so paid, or, in the case of certain
         categories of Employees whose regular compensation is not payable
         entirely on a weekly or biweekly or semimonthly salary basis, such
         other compensation as, and to the extent that, the Board shall
         determine, as described in Appendix A. Notwithstanding any provision in
         the Investment Fund to the contrary, in no event may the contributions
         made to the Investment Fund by or on behalf of any participant in any
         plan year exceed the maximum percentage allowed under subparagraphs 1
         and 2 of Paragraph (i)A of Article IV and Article V multiplied by the
         Employee's salary not in excess of $200,000 for any plan year beginning
         after December 31, 1988, and prior to January 1, 1994, or $150,000 for
         any plan year beginning after December 31, 1993 (or, with respect to
         either such dollar amount, such larger amount as the Secretary of the
         Treasury may determine for such plan year under Section 401(a)(17) of
         the Code). Such dollar limitation on the amount of salary taken into
         account shall also be applied for purposes of the limitations of
         Paragraph (iii) of Article IV. For purposes of this dollar limitation
         only, in determining the salary of any Employee, the rules of Section
         414(q)(6) of the Code shall apply, except that in applying such rules,
         the term "family" shall include only the spouse of the Employee and any
         lineal descendants of the Employee who have not attained age 19 before
         the close of the year. In applying the dollar limitation to each family
         member of a group subject to Code section 414(q)(6), the compensation
         limitation shall be allocated among the family members in proportion to
         the salary of each family member (prior to such dollar limitation) that
         is combined to determine the dollar limitation.

           60. "Subsidiary" shall mean a corporation which is controlled by CBS,
         directly or indirectly.

           61. "Taxable year" shall have the same meaning as when used in
         Section 441(b) of the Code.

           62. "Termination benefit", as used with respect to a participant,
         shall mean the benefit which such participant shall be entitled to
         receive by reason of the termination of his participation (as provided
         in Paragraphs C, E and F of Article VI

                                       64
<PAGE>

         hereof). Notwithstanding the foregoing, if a participant's employment
         with the Employers ceased on account of the disposition of WCAU-TV and
         the participant was not fully vested in his benefit under the Plan on
         the date of such disposition, such participant shall become fully
         vested in his Employer match subaccount on the date of such
         disposition.

           63. "Termination date", as used with respect to a participant, shall
         mean the date of the termination of such participant's participation as
         provided in Paragraph A of Article VI hereof.

           64. "Trust" shall mean the trust created by and under the Trust
         Agreement.

           65. "Trust Agreement" shall mean the trust agreement by and among the
         Employers and the Trustee, dated as of June 29, 1969, including the
         successor Trust Agreement dated September 1, 1986, as the same may at
         any time and from time to time be amended.

           66. "Trustee", as used with respect to any time, shall mean the
         Trustee acting under the Trust Agreement at such time.

           67. "Trust Fund" shall mean all property which shall be held by the
         Trustee, as trustee under the Trust Agreement, at the time with respect
         to which such term is used.

           68. Reserved.

           69. "Unvested Employer matching contributions", as used with respect
         to a participant and with respect to any time, shall mean those of the
         Employer matching contributions credited to such participant's Employer
         matching contributions subaccount as of such time which shall not be
         vested Employer matching contributions.

           70. "Valuation date" shall mean the last business day of a calendar
         month or such other day or dates established by the Administrative
         Managers and the Trustee for purposes of valuing contributions,
         distributions, withdrawals, loans, and/or participant investment
         election changes.

           71. "Value", as used generally, shall mean fair market value, as used
         with respect to a unit and as of July 31, 1969, shall mean $1.00 and as
         used with 65

                                       65
<PAGE>

         respect to a unit and as of a date subsequent to July 31, 1969,
         shall mean the value of the Fund in which such unit is held at such
         date divided by the number of units which are then held in said Fund.
         As of January 2, 1996, "value" shall mean $10.00 and, as used with
         respect to any valuation date subsequent to January 2, 1996, `Value'
         shall mean the total market value of the Fund in which the unit is held
         at such date divided by the number of units which are then held in said
         Fund.

           72. "Vested Employer matching contributions", as used as of a
         valuation date or a termination date with respect to (a) a participant
         whose continuous employment period on such date is three or more years
         of service or (b) a participant whose 65th birthday is not subsequent
         to such date or (c) a former participant whose participation shall have
         terminated by reason of his death or his disability, shall mean all of
         the Employer matching contributions credited to such participant's
         Employer matching contributions subaccount as of such date; said term,
         as so used with respect to a participant whose continuous employment
         period on such date is less than three full years, whose 65th birthday
         is subsequent to such date and whose participation shall not have
         terminated by reason of his death or his disability, shall mean 33-1/3
         percent of the Employer matching contributions credited to such
         participant's Employer matching contributions subaccount as of such
         date multiplied by the number of years of service included in his
         continuous employment period on such date.

           73. "Viacom" shall mean Viacom Inc., a Delaware Corporation.

           73A. "Viacom Inc. Stock" shall mean the Class B common stock of
         Viacom.

           74. "Withdrawal" shall mean a payment made to a participant as
         provided in subparagraph 1 of Paragraph B of Article VI hereof.

           75. "Year" shall mean any period of 12 consecutive monthly accounting
         periods.

           76. "Year of service", as used with respect to an Employee or a
         participant, as the case may be, shall mean each anniversary year in
         which he shall complete at least 1,000 hours of service, subject,
         however, to the following:

                   (a) Solely with respect to eligibility of an Employee
         employed on other than a full-time basis, such Employee shall be
         credited with a year of service if

                                       66
<PAGE>

         he completes 1,000 hours of service in his first anniversary year
         following December 31, 1975.

                   (b) Solely for the purpose of determining the extent to which
         such participant shall have a vested interest in the Employer matching
         contribution units, if such participant shall not have completed a year
         of service in the anniversary year in which he became a participant, or
         in the preceding plan year, he shall nevertheless be credited with one
         year of service for the anniversary year in which he became a
         participant.

                   (c) The period in which services shall have been performed by
         an Employee prior to a break in service shall not be included in
         determining his years of service unless

                   (i) such services shall have been performed prior to January
              1, 1976, in which event the period in which such services shall
              have been performed shall be included in determining such
              Employee's years of service in accordance with the break in
              service rules under the Investment Fund in effect prior to such
              date or

                   (ii) such services shall have been performed after December
              31, 1975 by an Employee who shall have a vested interest in the
              Employer matching contributions prior to such break in service,
              or, if no Employer matching contributions shall have vested, the
              number of consecutive anniversary years during which such break in
              service shall have continued shall be less than the greater of
              five or the number of years of service that shall have been
              accumulated immediately preceding such break in service.

                   (d) The period in which services shall have been performed by
         an Employee after five or more consecutive one-year breaks in service
         shall not be included in determining years of service for the purpose
         of causing his vested interest in the Employer matching contributions,
         as of the date immediately preceding such a break in service, to be
         increased; accordingly, any such pre-break Employer matching
         contributions not previously forfeited shall be forfeited into the
         Employer's matching contributions forfeiture account after five or more
         consecutive one-year breaks in service.

                   (e) For purposes of applying the requirement of Section
         II.A.(2) that a non-full-time Employee complete a year of service in
         order to be eligible to

                                       67
<PAGE>

         participate in the Investment Fund, the term "anniversary year" shall
         be deemed to mean the first 12-month period commencing on the first day
         of the calendar month in which his employment commences, and then each
         calendar year commencing after the commencement of the first
         anniversary year.

         B. For the purposes hereof:

           1. To the extent that the context shall permit, any masculine pronoun
         used herein shall be construed to include also the similar feminine
         pronoun, any singular word so used shall be construed to include also
         the similar plural word and any plural word so used shall be construed
         to include also the similar singular word.

           2. Any reference herein to any date or day shall be deemed to be a
         reference to the close of business on such date or day.

           3. Terms used herein with respect to a participant which are defined
         in Paragraph A of this Article IX shall have the same respective
         meanings when used with respect to an Employee.

           4. If any Employer shall at any time grant (or shall at any time have
         granted) to an Employee a leave of absence from his employment by such
         Employer, whether such leave shall commence (or shall have commenced)
         and/or shall be granted (or shall have been granted) prior to, at the
         time of, or subsequent to such Employee's having become a participant,
         such Employee shall be deemed to be (or to have been) in the employ of
         such Employer during such leave of absence. That portion of the period
         of such leave of absence which shall commence on the actual
         commencement of such leave of absence shall not be deemed to interrupt
         the continuity of such participant's participation period, but shall
         not be included therein unless such Employee shall receive a salary
         from his Employer during all or a portion of such leave of absence and
         shall make contributions during such period.

           5. In order to convert an amount to a number of units as of any date,
         such amount shall be divided by the value of one such unit on such
         date, in order to convert a number of units to an amount as of any
         date, such number shall be multiplied by the value of one such unit on
         such date, and in order to convert a number of units of one
         classification into a number of units of another classification as of
         any date, such first-mentioned number shall be multiplied by the value
         of one unit of such classification first referred to on such date and
         the product thus determined shall be divided by the value of one unit
         of such other classification on such date.

                                       68
<PAGE>

X.       Adoption by Subsidiaries.
         ------------------------

         A. Any subsidiary or affiliate may, pursuant to a resolution of its
board of directors, with the consent of the Administrative Managers, adopt the
Investment Fund for the exclusive benefit of its employees eligible to
participate therein. Such adoption shall be effective as of the first day of any
monthly accounting period specified by such subsidiary and consented to by the
Board.

         B. Each subsidiary adopting the Investment Fund as provided in
Paragraph A of this Article X shall enter into an agreement with the other
Employers and the Trustee pursuant to which such subsidiary shall become a party
to the Trust Agreement.

                                       69
<PAGE>

XI.      Amendment; Termination.
         -----------------------

         A. CBS may, at any time and from time to time, amend the Investment
Fund pursuant to a resolution or written instrument of the Board (or its duly
authorized designees), delivered to the Trustee and to the other Employers; CBS
may also, at any time and from time to time, amend the Investment Fund pursuant
to a joint resolution or written instrument of the Administrative Managers and
Financial Managers, delivered to the Trustee and to the other Employers, but
only with respect to amendments that (i) are required by ERISA or other
applicable law or regulation governing qualification of employee benefit plans,
(ii) are necessary for Plan administration and do not materially increase costs
to the Investment Fund or the Employers, or (iii) clarify ambiguous or unclear
Investment Fund provisions. However, (1) no such amendment or termination shall
adversely affect amounts credited to any participant's or former participant's
accounts on the date of such amendment or termination, nor shall, to the extent
prohibited under Section 411(d)(6) of the Code, any amendment result in
depriving a participant of the right to elect an optional form of benefit which,
but for the provisions of such amendment, such participant (or his or her
beneficiaries) would have been entitled to elect with respect to his or her
vested benefit, (2) no such amendment shall adversely affect any participant's
or former participant's interest in those of the Employer matching contributions
credited to his Employer matching contributions subaccount on the date of such
amendment which would be vested Employer matching contributions if the date of
such amendment were his termination date, (3) no such amendment shall result in
a change in the substance of Paragraph B of this Article XI with respect to
participants who are such on the date of such amendment, (4) notwithstanding any
such amendment and notwithstanding any such termination, it shall be impossible,
whether by operation or natural termination of the Trust or pursuant to the
provisions of this Paragraph A, or by the happening of a contingency or by
arrangement or by any other means, for any part of the corpus of or the income
from the Trust to be used for, or diverted to, purposes other than the exclusive
benefit of the participants, the former participants and their respective
beneficiaries, (5) no such amendment shall increase the duties, responsibilities
or obligations of any Administrative Manager or Financial Manager unless he
shall consent thereto, (6) no such amendment shall increase the duties,
responsibilities or obligations of the Trustee unless it shall consent thereto,
and (7) no such amendment shall increase the duties, responsibilities or
obligations of an Employer unless it shall consent thereto. In addition, any
Employer may, pursuant to a resolution of its board of directors, by a written
instrument delivered to the Trustee and to the other Employers, terminate the
Investment Fund with respect to its Employees.

         B. In the event of, and upon, an Employer's termination of the
Investment Fund or permanent discontinuance of contributions other than by
reason of being merged

                                       70
<PAGE>

into, or consolidated with, another Employer, whether or not the Trust shall
also terminate concurrently therewith, (1) the interest in his Employer matching
contributions subaccount of each participant who shall be or shall have been an
Employee of such Employer shall vest and the Administrative Managers shall, as
of and as promptly as shall be practicable after the valuation date concurrent
with, or next succeeding, the date of such termination or permanent
discontinuance, allocate unallocated Employer matching contributions pro rata to
the Employer matching contributions in the Employer matching contributions
subaccounts of the participants who shall have been Employees of such Employer
on the date of such termination or permanent discontinuance, and (2) the Trustee
shall, as of and as promptly as shall be practicable after the valuation date
next succeeding whichever shall occur first of such participant ceasing to be an
Employee of CBS and all subsidiaries and the termination of the Trust, pay or
distribute to such participant (or his beneficiaries) in the manner provided in
Paragraph F of Article VI hereof the benefits to which he is (or they are)
entitled. In the event of, and upon, the termination of the Investment Fund by
an Employer with respect to some but less than all of the Employees of such
Employer (a "partial termination"), (1) the interest in the Employer matching
contributions subaccount of each participant affected by such partial
termination shall vest and (2) as of and as promptly as shall be practicable
after the valuation date concurrent with, or next succeeding, the date of such
partial termination, (a) the Administrative Managers shall allocate any
unallocated Employer matching contributions pro rata to the Employer matching
contributions in the Employer matching contributions subaccounts of the
participants affected by such partial termination and (b) the Trustee shall pay
or distribute to each such participant (or his beneficiaries) in the manner
provided in Paragraph F of Article VI hereof the benefits to which he is (or
they are) entitled. In the event of the complete or partial termination of the
Investment Fund, or the complete discontinuance of contributions thereto, the
account balances of all affected participants shall become fully vested.

         C. In the event of any merger or consolidation of the Investment Fund
and/or the Trust hereunder with, or transfer of the assets or liabilities of the
Investment Fund and/or Trust to, any other plan, the terms of such merger,
consolidation or transfer shall be such that each participant would receive (in
the event of termination of the Investment Fund or its successor immediately
thereafter) a benefit which is no less than he would have received in the event
of termination of the Investment Fund immediately prior to such merger,
consolidation or transfer.

           1. Anything herein to the contrary notwithstanding, the Administrator
shall direct the Trustee to transfer, as of January 1, 1991, to the trustee of
the trust established under the CBS News Special Projects Inc. Employee
Investment Fund maintained by CBS News Special Projects Inc. for the benefit of
employees of CBS News

                                       71
<PAGE>

Special Projects Inc. who were Employees of CBS participating in the Investment
Fund immediately prior to employ with CBS News Special Projects Inc. an amount
from the Trust equal to the balance in such participants' accounts determined as
of the transfer date. After December 31, 1990, the former CBS Employees
described above shall be entitled to no further allocations under this
Investment Fund.

           2. Anything herein to the contrary notwithstanding, the Administrator
shall direct the Trustee to transfer, as of the transfer date, to the trustee of
the trust established under the CBS News Special Projects Inc. Employee
Investment Fund maintained by CBS News Special Projects Inc. for the benefit of
employees of CBS News Special Projects Inc. who were Employees of CBS
participating in the Investment Fund immediately prior to employ with CBS News
Special Projects Inc., an amount from the Trust equal to the balance in such
participants' accounts determined as of the transfer date. Effective with the
transfer date, the former CBS Employees described above shall be entitled to no
further allocations under this Investment Fund.

           3. Subject to the approval of the Administrative Managers, the
Trustee shall accept a transfer of assets and liabilities accrued by a
participant under any other plan which transfer shall be in accordance with the
requirements of Section 414(1) of the Code. In no event shall the accrued
benefit of any such participant under this Investment Fund immediately after
such transfer be less than the accrued benefit of such participant under the
transferor plan immediately prior to such transfer. In addition, any
distribution, withdrawal, or other rights available to each affected participant
under the terms of the transferor plan as of the date of such transfer which are
protected under Section 411(d)(6) of the Code shall continue to be available
with respect to such transferred account balances.

         D. Notwithstanding anything hereinbefore to the contrary, a matching
contribution hereunder by any Employer which (1) was made under a mistake of
fact or (2) was conditioned upon deduction of such contribution under Section
404 of the Code and such deduction is disallowed, shall be returned to the
Employer within one year after the payment of the contribution or the
disallowance of the deduction (to the extent disallowed), whichever may be
applicable.

                                       72
<PAGE>

XII.     Limitations.
         ------------

         A. Subject to the adjustments hereinafter set forth, the maximum annual
addition to a participant's account shall in no event exceed the lesser of (1)
$30,000 (adjusted annually, effective January 1, 1988, to reflect increases in
the cost of living, in accordance with Regulations issued by the Secretary of
the Treasury under Section 415 of the Code) or (2) 25 percent of his annual
compensation.

         B. For the purpose of Paragraph A of this Article XII:

           1. "Annual addition" shall mean, as used with respect to a
participant, the sum for any calendar year of (1) the Employer's contributions
(including before-tax required basic contributions, before-tax voluntary
supplemental contributions and Employer matching contributions); (2) any
forfeitures under the applicable terms, if any, of the Investment Fund; (3) the
participant's after-tax contributions; and (4) amounts described in Section
415(l)(1) and Section 419A(d)(2) of the Code. Notwithstanding the foregoing,
annual additions for any calendar year beginning before January 1, 1987 shall
include a participant's after-tax contributions only to the extent greater than
the lesser of (a) such participant's after-tax contributions in excess of six
percent of his compensation or (b) one-half of such participant's after-tax
contributions; provided, however, with respect to calendar years prior to
January 1, 1976, the amount of a participant's contributions for each year shall
be deemed to be an amount equal to the excess of the aggregate of the
participant's contributions prior to January 1, 1976 (without regard to such
contributions made on or after October 1, 1973 under the terms of the Investment
Fund in effect as of such date) over 10 percent of his compensation for each
calendar year of his participation in the Investment Fund prior to such date,
multiplied by a fraction, the numerator of which shall be 1 and the denominator
of which shall be the number of calendar years during which he was a participant
prior to January 1, 1976.

           2. "Annual compensation" shall mean a participant's wages within the
meaning of Section 3401(a) of the Code and all other payments of compensation to
an Employee by his Employer (in the course of the Employer's trade or business)
for which the Employer is required to furnish the Employee a written statement
under Section 6041(d), Section 6051(a)(3) and Section 6052 of the Code,
determined without regard to any rules under Section 3401(a) of the Code that
limit the remuneration included in wages based on the nature or location of the
employment or the services performed (such as the exception for agricultural
labor in Section 3401(a)(2) of the Code), and including amounts paid or
reimbursed by the Employer for moving expenses incurred by the Employee.

                                       73
<PAGE>

         C. The limitations set forth in this Article with respect to any
participant who at any time participates in any other defined contribution plan
maintained by the Employer or in more than one defined benefit plan maintained
by the Employer shall apply as if the total annual addition allocated to the
participant under all such defined contribution plans in which the participant
so participates are allocated under a single plan and as if the total benefits
payable to the participant under all defined benefit plans maintained by the
Employer are payable from a single plan.

           For purposes of this Article, the term "Employer" shall include any
affiliated company as defined in Paragraph 4 of Article IX hereof and modified
by Section 415(h) of the Code.

         D. In the case of a person who is a participant both in the Investment
Fund and the CBS Combined Pension Plan or any other applicable defined plan, the
sum of the defined benefit plan fraction and the defined contribution plan
fraction (as each such term is hereinafter defined) for any calendar year shall
not exceed 1.0.

         E. For the purpose of determining the sum referred to in Paragraph D of
this Article XII, the following shall apply:

            (1) "Defined benefit plan fraction" shall mean a fraction, (i) the
numerator of which shall be the annual benefit payable with respect to a
participant under the CBS Combined Pension Plan and any other applicable defined
benefit plan determined without regard to the limitation provisions required by
Section 415(b) of the Code and (ii) the denominator of which shall be the
maximum benefit payable under such Section, increased as provided by Section
415(e)(2)(B) of the Code as amended by the Tax Equity and Fiscal Responsibility
Act of 1982 ("TEFRA"); provided, however, that in the case of any participant in
the CBS Combined Pension Plan whose benefit is described in Section 6.04C
thereof prior to increasing the denominator of the fraction pursuant to Section
415(e)(2)(B) of the Code, the numerator of the defined benefit plan fraction
shall be deemed not to exceed the denominator of such fraction.

            (2) "Defined contribution plan fraction" shall mean a fraction, (i)
the numerator of which shall be the aggregate annual additions (as hereinafter
defined), with respect to a participant in the Investment Fund or any other
defined contribution plan maintained by an Employer, determined as of the close
of the calendar year in which such additions accrued, determined without regard
to the limitation provisions required by Section 415(c) of the Code, and (ii)
the denominator of which shall be the aggregate maximum annual additions
determined by applying the provisions of said Section 415(c) for each calendar
year of the participant's service, taking into account the transition rules

                                       74
<PAGE>

for years ending prior to January 1, 1983 prescribed under the Investment Fund
or other applicable plans and under the Act and TEFRA, including the rules of
Section 415(e)(3) of the Code as amended by TEFRA, unless the Administrative
Managers elect to apply the rules of Section 415(e)(6) of the Code, as added by
TEFRA; provided, however, that in the case of calendar years prior to January 1,
1976 prior to increasing the denominator of the fraction pursuant to Section
415(e)(3)(B) or Section 415(e)(6)(B) of the Code, the numerator of the defined
contribution plan factor shall be deemed not to exceed the denominator of such
fraction.

         F. The limitation referred to in Paragraph D of this Article XII shall
not apply with respect to any participant who on September 2, 1974 was a
participant both in the Investment Fund and the CBS Combined Pension Plan if the
defined benefit fraction with respect to such a person shall not be increased,
by amendment or otherwise, after September 2, 1974 and no contributions to his
account are made under the Investment Fund after such date.

         G. If, prior to the allocation of contributions on behalf of any
participant, it is determined that the limitation on annual additions prescribed
under Paragraph A hereof or the limitation applicable to a combination of plans
prescribed under Paragraph D hereof would be exceeded in any year, contributions
shall be reduced, in the following order, but only to the extent necessary to
satisfy the limitations:

            (1) First, periodic special contributions shall be reduced;

            (2) Second, after-tax voluntary supplemental contributions shall be
         reduced;

            (3) Third, before-tax voluntary supplemental contributions shall be
         reduced;

            (4) Fourth, after-tax required basic contributions shall be reduced;

            (5) Fifth, before-tax required basic contributions shall be reduced;

            (6) Sixth, Employer matching contributions shall be reduced.

              Any amount which may not be allocated to the account of a
participant by reason of (2), (3), (4) or (5) hereof shall not be withheld
and/or deferred from his salary but shall be paid to him. Any amount which may
not be allocated to the account of a participant by reason of (6) hereof shall
be retained in the general assets of the Employer,

                                       75
<PAGE>

if the Administrative Managers so direct, or paid to such participant upon such
terms and conditions as the Administrative Managers may from time to time
prescribe.

         H. Notwithstanding the provisions of Paragraph G, in the event that the
limitations prescribed under Paragraph D would be exceeded with respect to any
participant who participates in the Investment Fund and the CBS Combined Pension
Plan or any other applicable defined benefit plan, the benefits under the
defined benefit plan shall be reduced or frozen prior to making any adjustments
under the Investment Fund.

         I. In the event that, notwithstanding Paragraph G hereof, the
limitations with respect to annual additions prescribed hereunder are exceeded
with respect to any participant and such excess arises as a consequence of the
crediting of forfeitures to the participant's account or a reasonable error in
estimating the participant's compensation or a reasonable error in determining
the amount of before-tax contributions that may be made with respect to any
individual within the limits of Section 415 of the Code, such excess shall be
disposed of by returning to the participant his after-tax contributions, if any,
for the year in which the excess arose, together with the earnings thereon, but
only to the extent necessary to cause the annual additions to the participant's
account to equal, but not exceed, the limitations prescribed hereunder. In the
event that after such contributions and earnings are returned there remains an
excess, before-tax contributions, if any, for the year in which the excess
arose, shall be returned to the participant, but only to the extent necessary to
cause the annual additions to the participant's account to equal, but not
exceed, the limitations prescribed hereunder. In the event that after such
contributions are returned there remains an excess, such excess shall be held in
a suspense account and allocated to the account of the participant in succeeding
years or, if his employment has terminated and there remains an amount standing
to his credit in a suspense account, among the accounts of all participants. Any
before-tax or after-tax contributions that are returned to the participant in
accordance with this Paragraph shall not be taken into account in applying the
limitations of Paragraphs (iii)(A), (iii)(C) and (iii)(D) of Article IV.

                                       76
<PAGE>

XIII.    Interpretation.
         ---------------

         Anything in the Investment Fund or the Trust Agreement to the contrary
notwithstanding, no provision thereof shall be so construed as to violate the
requirements of the Act. To the extent that state law shall not be preempted by
the provisions of the Act or any other laws of the United States heretofore or
hereafter enacted, as the same may be amended from time to time, the Investment
Fund shall be administered, construed and enforced according to the laws of the
State of New York.

                                       77
<PAGE>

XIV.     Top-Heavy Plan.
         ---------------

         A. Effective January 1, 1984, the Investment Fund shall meet the
requirements of this Article XIV in the event that the Investment Fund is or
becomes a top-heavy plan.

         B. 1. Subject to the aggregation rules set forth in subparagraph 2 of
this Paragraph B, the Investment Fund shall be considered a top-heavy plan
pursuant to Section 416(g) of the Code in any plan year beginning after December
31, 1983 if, as of the determination date, the present value of the cumulative
accrued benefits of all Key Employees exceeds 60 percent of the present value of
the cumulative accrued benefits of all of the Employees as of such date,
excluding former Key Employees and, except for the plan year beginning January
1, 1984, excluding any Employee who has not performed services for the Employer
during the five consecutive plan year period ending on the determination date,
but taking into account in computing the ratio any distributions made during the
five consecutive plan year period ending on the determination date. For purposes
of the above ratio, the present value of a Key Employee's accrued benefit shall
be counted only once each plan year, notwithstanding the fact that an individual
may be considered a Key Employee for more than one reason in any plan year.

            2. For purposes of determining whether the Investment Fund is a
top-heavy plan and for purposes of meeting the requirements of this Article XIV,
the Investment Fund shall be aggregated and coordinated with other qualified
plans in a required aggregation group and may be aggregated or coordinated with
other qualified plans in a permissive aggregation group. If such required
aggregation group is top-heavy, this Investment Fund shall be considered a
top-heavy plan. If such permissive aggregation group is not top-heavy, this
Investment Fund shall not be a top-heavy plan.

         C. For the purpose of determining whether the Investment Fund is
top-heavy, the following definitions shall be applicable:

            1. Determination and Valuation Dates. The term "determination date"
shall mean, in the case of any plan year, the last day of the preceding plan
year. The amount of an individual's accrued benefit and the present value
thereof shall be determined as of the valuation date and shall include any
contribution actually made after such valuation date but on or before the
determination date. The term "valuation date" means the most recent value
determination date defined in subparagraph 70 of Paragraph A of Article IX
hereof occurring within a 12-month period ending on the determination date.

                                       78
<PAGE>

            2. Key Employee. An individual shall be considered a Key Employee if
he is an Employee or former Employee who at any time during the current plan
year or any of the four preceding plan years:

              (a) was an officer of the Employer who has annual compensation
         from the Employer in the applicable plan year in excess of 50 percent
         of the amount in effect under Section 415(b)(1)(A) of the Code;
         provided, however, that the number of individuals treated as Key
         Employees by reason of being officers hereunder shall not exceed the
         lesser of 50 or 10 percent of all Employees, and provided further that
         if the number of Employees treated as officers is limited to 50
         hereunder, the individuals treated as Key Employees shall be those who,
         while officers, received the greatest annual compensation in the
         applicable plan year and any of the four preceding plan years (without
         regard to the limitation set forth in Section 416(d) of the Code); or

              (b) was one of the 10 Employees owning or considered as owning the
         largest interests in the Employer who has annual compensation from the
         Employer in the applicable plan year in excess of the dollar limitation
         under Section 415(c)(1)(A) of the Code as increased under Section
         415(d) of the Code; or

              (c) was a more than five percent owner of the Employer; or

              (d) was a more than one percent owner of the Employer whose annual
         compensation from the Employer in the applicable plan year exceeded
         $150,000.

         For purposes of determining who is a Key Employee, ownership shall mean
ownership of the outstanding stock of the Employer or of the total combined
voting power of all stock of the Employer, taking into account the constructive
ownership rules of Section 318 of the Code, as modified by Section 416(i)(1) of
the Code.

         For purposes of section (a) of this subparagraph but not for purposes
of sections (b), (c) and (d) of this subparagraph (except for purposes of
determining compensation under section (d) of this subparagraph), the term
"Employer" shall include any entity aggregated with an Employer pursuant to
Section 414(b), (c) or (m) of the Code.

         For purposes of section (b) of this subparagraph, an Employee (or
former Employee) who has some ownership interest is considered to be one of the
top 10 owners unless at least 10 other Employees (or former Employees) own a
greater interest than such Employee (or former Employee); provided that if an
Employee has the same

                                       79
<PAGE>

ownership interest as another Employee, the Employee having greater annual
compensation from the Employer is considered to have the larger ownership
interest.

            3. Non-Key Employee. The term "Non-Key Employee" shall mean any
Employee who is a participant and who is not a Key Employee.

            4. Beneficiary. Whenever the term "Key Employee", "former Key
Employee", or "Non-Key Employee" is used herein, it includes the beneficiary or
beneficiaries of such individual. If an individual is a Key Employee by reason
of the foregoing sentence as well as a Key Employee in his own right, both the
present value of his inherited accrued benefit and the present value of his own
accrued benefit will be considered his accrued benefit for purposes of
determining whether the Investment Fund is a top-heavy plan.

            5. Compensation and Compensation Limitation. For purposes of this
Article XIV, except as otherwise specifically provided, the term "compensation"
means the amount stated on an Employee's Form W-2 for the calendar year that
ends with or within the plan year; provided that the annual compensation of a
Key Employee taken into account under the Investment Fund shall not exceed
$200,000, for plan years beginning before January 1, 1994, or $150,000, for plan
years beginning after December 31, 1993, and in either case adjusted for
increases in the cost of living pursuant to regulations issued under Section
401(a)(17) of the Code.

            6. Required Aggregation Group. The term "required aggregation group"
shall mean all other qualified defined benefit and defined contribution plans,
(including terminated plans which were maintained within the last five years
ending on the determination date for the plan year in question and which would,
but for the fact that the plan is terminated, be part of the required
aggregation group), maintained by the Employer in which a Key Employee
participates, and each other plan of the Employer which enables any plan in
which a Key Employee participates to meet the requirements of Section 401(a)(4)
or 410 of the Code.

            7. Permissive Aggregation Group. The term "permissive aggregation
group" shall mean all other qualified defined benefit and defined contribution
plans maintained by the Employer that meet the requirements of Sections
401(a)(4) and 410 of the Code when considered with a required aggregation group.

            8. Present Value of Accrued Benefit. The present value of an
individual's accrued benefit shall mean the sum of the value as of the most
recent valuation date of the

                                       80
<PAGE>

amounts credited to his Fund accounts as of the determination date and
contributions due as of the determination date.

         D. In the event the Investment Fund is determined to be top-heavy for
any plan year, the following requirements shall be applicable.

            1. Minimum Allocation. (a) In the case of a Non-Key Employee who is
covered under this Investment Fund but does not participate in any qualified
defined benefit plan maintained by the Employer, the minimum allocation of
contributions (not including before-tax contributions) plus forfeitures
allocated to the account of each such Non-Key Employee who has not separated
from service at the end of a plan year in which the Investment Fund is top-heavy
shall equal the lesser of three percent of compensation for such plan year or
the largest percentage of compensation provided on behalf of any Key Employee
for such plan year. For purposes of determining the minimum required
contribution, the before-tax contributions made on behalf of key employees shall
be taken into account. The minimum allocation provided hereunder may not be
suspended or forfeited under Sections 411(a)(3)(B) or 411(a)(3)(D) of the Code.
The minimum allocation shall be made for a Non-Key Employee for each plan year
in which the Investment Fund is top-heavy, even if he has not completed a year
of service in such plan year or if he has declined to elect to have salary
reduction contributions made on his behalf.

              (b) A Non-Key Employee who is covered under this Investment Fund
and under a qualified defined benefit plan maintained by the Employer shall not
be entitled to the minimum allocation under this Investment Fund but shall
receive the minimum benefit provided under the terms of the qualified defined
benefit plan.

            2. Limitations on Annual Additions and Benefits. For purposes of
computing the defined benefit plan fraction and defined contribution plan
fraction as set forth in Sections 415(e)(2)(B) and 415(e)(3)(B) of the Code, the
dollar limitations on benefits and annual additions applicable to a limitation
year shall be multiplied by 1.0 rather than by 1.25.

                                       81
<PAGE>

XV.      Midwest Communications, Inc. Transaction.
         -----------------------------------------

A.       Transfer of Accounts from the Midwest Communications,
         Inc. Retirement Savings Plan to Investment Fund:
         -----------------------------------------------------

            1. All individuals who were salaried, nonunion employees of Midwest
Communications, Inc. and who were eligible to participate in the Midwest
Communications, Inc. Retirement Savings Plan as of February 5, 1992, shall be
eligible to participate in the Investment Fund with respect to compensation
earned after April 5, 1992. Amounts credited to the accounts of such
Participants of the Midwest Communications, Inc. Retirement Savings Plan who are
participants under the Investment Fund shall be transferred to the Investment
Fund effective April 30, 1992 ("Transferred Amount(s)").

            2. All individuals who were union employees of Midwest
Communications, Inc. and who were eligible to participate in the Midwest
Communications, Inc. Retirement Savings Plan shall be eligible to participate in
the Investment Fund as of the date specified by the individual collective
bargaining agreement with respect to compensation earned after the date
specified in such agreement. Amounts credited to the accounts of such
Participants of the Midwest Communications, Inc. Retirement Savings Plan who are
participants under the Investment Fund shall be transferred to the Investment
Fund effective as of the valuation date following the date specified in the
particular collective bargaining agreement for their eligibility to participate
in the Investment Fund ("Transferred Amount(s)").

            3. Transferred Amounts shall be subject to the following procedures:

               (i) Allocation and Accounting for Transferred Amounts: The
         portion of a participant's Transferred Amount representing before-tax
         contributions shall be allocated to his before-tax subaccount; the
         portion representing rollover contributions shall be allocated to his
         Rollover Contribution Account; and the remaining portion shall be
         allocated to the participant's Employer matching contribution
         subaccount.

               (ii) Investment of Transferred Amounts: Transferred Amounts shall
         be invested in Funds A, B, D and E as directed by the participant in
         accordance with the investment provisions of Article III and IV. In the
         event the participant fails to issue an investment direction, the
         Transferred Amounts shall be invested in Fund B.

               (iii) Vesting in Transferred Amounts: A participant's vested
         interest in his Transferred Amount shall be determined in accordance
         with the rules of

                                       82
<PAGE>

         subparagraph 72 of Paragraph A of Article IX hereof, provided that all
         prior service credit with Midwest Communications, Inc. shall be treated
         as service with CBS, and further provided that a participant's vested
         interest in the Transferred Amounts under the Investment Fund shall be
         no less than his vested interest under the Transferor Plan determined
         as of the date such amounts are transferred to this Investment Fund.

            (iv) Distribution and Withdrawals of Transferred Amounts: The
         requirements of Article VI shall govern the withdrawal and distribution
         of Transferred Amounts in the same manner as if such amounts were
         originally contributed to this Investment Fund, provided that in the
         event former Participants in the Midwest Communications, Inc.
         Retirement Savings Plan had Rollover Contribution Accounts thereunder,
         these amounts will be available for withdrawal under the withdrawal
         rules of Section 7.1 of that Plan, to wit:

         "Withdrawals from Rollover Account: A Participant may withdraw from his
         Rollover Account an amount not less than the lesser of One Thousand
         Dollars or the balance of such Account and not in excess of the amount
         of such Account balance as of the Valuation Date that next follows by
         at least thirty days (or such shorter period as the Administrator may
         by uniform rule allow) the date on which the Administrator receives a
         complete and accurate written withdrawal application from the
         Participant in form prescribed by the Administrator. Such withdrawal
         distribution shall be made by the Trustee as soon as administratively
         practicable following such Valuation Date." Section 2.28 of the Midwest
         Communications, Inc. Retirement Savings Plan provides that the
         Valuation Date is the last day of each calendar month and such interim
         dates as the Administrator may from time to time specify pursuant to
         Section 5.2(B).

         B. Merger of WCCO Television, Inc. AFTRA 401(k) Plan into Investment
            Fund:
            -----------------------------------------------------------------

            1. All individuals who were Participants in the WCCO Television,
Inc. AFTRA 401(k) Plan as of August 21, 1992 shall be eligible to participate in
the Investment Fund with respect to compensation earned after August 23, 1992.
Amounts credited to the accounts of such Participants of the WCCO Television,
Inc. AFTRA 401(k) Plan who are participants under the Investment Fund shall be
transferred to the Investment Fund effective September 2, 1992 ("Transferred
Amount(s)").

            Effective August 31, 1992, the participants shall direct the Trustee
of the CBS Employee Investment Fund to transfer the total of their account
balance(s) in the WCCO Television, Inc. AFTRA 401(k) Plan to the designated Fund
account(s) under the Investment Fund.

                                       83
<PAGE>

            2. Transferred Amounts shall be subject to the following procedures:

                   (i) Allocation and Accounting for Transferred Amounts: The
               portion of a participant's Transferred Amount representing
               before-tax contributions shall be allocated to his Before-Tax
               Account; the portion representing rollover contributions shall be
               allocated to his Rollover Contribution Account.

                   (ii) Investment of Transferred Amounts: Transferred Amounts
              shall be invested in Funds A, B and D as directed by the
              participant in accordance with the investment provisions of
              Article III and IV. In the event the participant fails to issue an
              investment direction, the Transferred Amounts shall be invested in
              Fund B.

                   (iii) Vesting in Transferred Amounts: A participant's vested
              interest in his Transferred Amount shall be determined in
              accordance with the rules of subparagraph 62 of Paragraph A of
              Article IX hereof, provided that all prior service credit with
              Midwest Communications, Inc. shall be treated as service with CBS,
              and further provided that a participant's vested interest in the
              Transferred Amounts under the Investment Fund shall be no less
              than his vested interest under the Transferor Plan determined as
              of the date such amounts are transferred to this Investment Fund.

                   (iv) Distribution and Withdrawals of Transferred Amounts: The
              requirements of Article VI shall govern the withdrawal and
              distribution of Transferred Amounts in the same manner as if such
              amounts were originally contributed to this Investment Fund,
              provided that in the event former Participants in the WCCO
              Television, Inc. AFTRA 401(k) Plan had Rollover Contribution
              Accounts thereunder, these amounts will be available for
              withdrawal under the withdrawal rules of Section 7.1 of that Plan,
              to wit:

              "Withdrawals from Rollover Account: A Participant may withdraw
              from his Rollover Account an amount not less than the lesser of
              One Thousand Dollars or the balance of such Account and not in
              excess of the amount of such Account balance as of the Valuation
              Date that next follows by at least thirty days (or such shorter
              period as the Administrator may by uniform rule allow) the date on
              which the Administrator receives a complete and accurate written
              withdrawal application from the Participant in form prescribed by
              the Administrator. Such withdrawal distribution shall be made by
              the Trustee as soon as administratively practicable following such
              Valuation Date." Section 2.27 of the WCCO Television, Inc. AFTRA
              401(k) Plan provides that the Valuation Date is the last day of
              each calendar month and such interim dates as the Administrator
              may from time to time specify pursuant to Section 5.2(B).

                                       84
<PAGE>

XVI.     Merger of Radford Studio Center Inc. 401(k) Tax
         Sheltered Savings Plan and Trust.
         -----------------------------------------------

         1. All individuals who were employees of Radford Studio Center Inc. and
who were eligible to participate in the Radford Studio Center Inc. 401(k) Tax
Sheltered Savings Plan and Trust as of November 30, 1994, shall be eligible to
participate in the Investment Fund with respect to compensation earned after
November 30, 1994. Amounts credited to the accounts of such participants of the
Radford Studio Center Inc. 401(k) Tax Sheltered Savings Plan who are
participants under the Investment Fund shall be transferred to the Investment
Fund effective as of December 1, 1994 ("Radford Transferred Amount(s)").

         2. Radford Transferred Amounts shall be subject to the following
procedures:

            (i) Allocation and Accounting for Radford Transferred Amounts: The
         portion of a participant's Radford Transferred Amount representing
         before-tax contributions shall be allocated to his Before-Tax Account.

            (ii) Investment of Radford Transferred Amounts: Radford Transferred
         Amounts shall be invested in Funds A, B, D, and E as directed by the
         participant in accordance with provisions of Article III and IV. In the
         event the participant fails to issue an investment direction, the
         Radford Transferred Amounts shall be invested in Fund B.

            (iii) Vesting in Radford Transferred Amounts: A participant shall be
         fully vested in his interest in the Radford Transferred Amount.

            (iv) Distribution and Withdrawals of Radford Transferred Amounts:
         The requirements of Article VI shall govern the withdrawal and
         distribution of Radford Transferred Amounts in the same manner as if
         such amounts were originally contributed to this Investment Fund.

                                       85
<PAGE>

XVII.    Direct Rollover of Amounts from Plans in Which Employees
         of WPRI-TV Participated.
         --------------------------------------------------------

         1. Any Employee who:

            (i) was an employee of the seller of WPRI-TV and prior to the date
         the assets related to that station were acquired by CBS (the
         "Acquisition Date");

            (ii) became an Employee of CBS on the Acquisition Date; and

            (iii) receives an "eligible rollover distribution" from any
         qualified plan sponsored by the seller

         shall be eligible to make a direct rollover contribution of such
         "eligible rollover distribution" to the Investment Fund. The Trustee
         shall credit the amount of any direct rollover contribution to the
         participant's Rollover Account, in accordance with the participant's
         designation, as of the date the direct rollover contribution is made.

         2. The term direct rollover contribution means the contribution of an
"eligible rollover distribution" to the Trustee by the Employee or the trustee
of another "eligible retirement plan" (as defined in Section 402(c)(8)(B) of the
Code) in the form of a direct transfer under Section 401(a)(31) of the Code.

         3. For purposes of this Article XVII, the term "eligible rollover
distribution" means:

           A. part or all of the amount (other than nondeductible employee
         contributions) received by such Employee or distributed directly to
         this Plan on such Employee's behalf from an employee plan and trust
         described in Code Section 401(a) which is exempt from tax under Code
         Section 501(a) and which is sponsored by the seller of WPRI-TV.

           In all events, such amount shall constitute an "eligible rollover
         distribution" only if such amount qualifies as such under Code Section
         402(c) and the regulations and other guidance thereunder and is a
         distribution of all or any portion of the balance to the credit of the
         Employee from the distributing plan other than any distribution: (1)
         that is one of a series of substantially equal periodic payments (not
         less frequently than annually) made for the life (or life expectancy)
         of the distributee or for a specified period of ten years or more; (2)
         to the extent such distribution is required under Code Section
         401(a)(9); (3) to the extent such distribution is not

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<PAGE>

includible in gross income (determined without regard to the exclusion for net
unrealized appreciation with respect to employer securities); or (4) that is
made to a non-spouse beneficiary.

         B. Once accepted by the Trust, an amount rolled over pursuant to this
Article XVII shall be credited to the participant's accounts, and invested in
the funds in accordance with the participant's directions for such amounts.
Thereafter, such rolled over amounts shall be administered and invested in
accordance with Article IV and subject to the distribution provisions set forth
in Article VI. For purposes of Article VI, rolled over amounts shall be subject
to the same provisions as a participant's after-tax subaccount; provided,
however, that such amounts shall not be available for withdrawal under Paragraph
B.1 of Article VI. The limitations of Article IV, Section (iii) and Article XII
shall not apply to rollover contributions. All rollover contributions shall be
made in cash and shall be fully vested. No Employer's matching contributions
shall be made with respect to rollover contributions.

                                       87
<PAGE>

XVIII.   Direct Rollover of Amounts from Plans in Which Employees
         of TNN/CMT Cable Networks Participated.
         --------------------------------------------------------

         1. Any Employee who:

            (i) was an employee of the seller of TNN/CMT Cable Networks prior to
         the date the assets related to that network were acquired by CBS (the
         "Gaylord Acquisition Date");

            (ii) became an Employee of CBS on the Gaylord Acquisition Date; and

            (iii) receives an "eligible rollover distribution" from any
         qualified plan sponsored by the seller in connection with such sale no
         later than December 31, 1999.

shall be eligible to make a direct rollover contribution of such "eligible
rollover distribution" to the Investment Fund. The Trustee shall credit the
amount of any direct rollover contribution to the participant's Rollover
Account, in accordance with the participant's designation, as of the date the
direct rollover contribution is made.

         2. The term direct rollover contribution means the contribution of an
"eligible rollover distribution" to the Trustee by the Employee or the trustee
of another "eligible retirement plan" (as defined in Section 402(c)(8)(B) of the
Code) in the form of a direct transfer under Section 401(a)(31) of the Code.

         3. For purposes of this Article XVIII, the term "eligible rollover
distribution" means:

           A. part or all of the amount (other than nondeductible employee
         contributions) received by such Employee or distributed directly to
         this Plan on such Employee's behalf from an employee plan and trust
         described in Code Section 401(a) which is exempt from tax under Code
         Section 501(a) and which is sponsored by the seller of the TNN/CMT
         Cable Networks. An eligible rollover distribution which is a direct
         rollover contribution shall include, pursuant to procedures established
         by the Administrator, promissory notes reflecting a loan issued by the
         seller's plan described in the preceding sentence; provided, however,
         that an election to directly roll over such notes to the EIF shall be
         effective only if made by a date to be specified by the Administrator
         and communicated to eligible Employees at least two weeks prior to such
         date.

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<PAGE>

           In all events, such amount shall constitute an "eligible rollover
         distribution" only if such amount qualifies as such under Code Section
         402(c) and the regulations and other guidance thereunder and is a
         distribution of all or any portion of the balance to the credit of the
         Employee from the distributing plan other than any distribution: (1)
         that is one of a series of substantially equal periodic payments (not
         less frequently than annually) made for the life (or life expectancy)
         of the distributee or for a specified period of ten years or more; (2)
         to the extent such distribution is required under Code Section
         401(a)(9); (3) to the extent such distribution is not includible in
         gross income (determined without regard to the exclusion for net
         unrealized appreciation with respect to employer securities); or (4)
         that is made to a non-spouse beneficiary.

           If all or any portion of a direct rollover contribution is received
         in the form of a promissory note described in the first paragraph of
         this subsection A, the participant making such a direct rollover
         contribution shall execute a new payroll withholding agreement and, to
         the extent required to permit the continued enforcement and
         administration of such note and loan, a new loan agreement that is
         consistent with the provisions of Article VII of this Plan and the
         Plan's procedures regarding loans, including the repayment period for
         the remaining loan balance. The interest rate applicable to the new
         loan agreement shall be the interest rate in effect for the loan
         immediately prior to rollover.

           B. Once accepted by the Trust, an amount rolled over pursuant to this
         Article XVIII shall be credited to the participant's accounts, and
         invested in the funds in accordance with the participant's directions
         for such amounts. Thereafter, such rolled over amounts shall be
         administered and invested in accordance with Article IV and subject to
         the distribution provisions set forth in Article VI. For purposes of
         Article VI, except as otherwise provided in Paragraph G of Article VI,
         rolled over amounts shall be subject to the same provisions as a
         participant's before-tax subaccount. The limitations of Article IV,
         Section (iii) and Article XII shall not apply to rollover
         contributions. All rollover contributions (other than those made in the
         form of a promissory note as described above) shall be made in cash and
         shall be fully vested. No Employer's matching contributions shall be
         made with respect to rollover contributions.

                                       89
<PAGE>

XIX.     Account Transfers.
         ------------------

           A. 1998 Transfer of Accounts from the Westinghouse Savings Program to
              the Investment Fund.
              ------------------------------------------------------------------

              1. All individuals who, as of December 31, 1997, were employees of
the Corporation (i) primarily providing services to a subsidiary or division of
the Corporation that was part of Westinghouse Electric Corporation prior to
November 24, 1995 and engaged in the business of radio and/or television
broadcasting, cable operations, satellite operations, or related businesses, or
(ii) providing management services in a position that had been moved or
identified as being moved from Pittsburgh to New York City, and who were
eligible to participate in the Westinghouse Savings Program, shall be eligible
to participate in the Investment Fund with respect to compensation earned after
December 31, 1997. Amounts credited to the accounts of such Participants in the
Westinghouse Savings Program who are participants under the Investment Fund
shall be transferred to the Investment Fund effective January 2, 1998
("Transferred Amount(s)").

              2. Transferred Amounts shall be subject to the following
procedures:

                 (i) Allocation and Accounting for Transferred Amounts: The
portion of a participant's Transferred Amount representing before-tax
contributions shall be allocated to his before-tax subaccount; the portion
representing after-tax contributions shall be allocated to his after-tax
subaccount; the portion representing rollover contributions shall be allocated
to his rollover contributions account; and the remaining portion shall be
allocated to the participant's Employer matching contribution subaccount. To the
extent a participant described in this Section XV.A has an election in place for
contributions in excess of 15% of the Employee's salary, contributions will be
reduced to 15% of the Employee's salary, first through a reduction to after-tax
contributions, then through a reduction to before-tax contributions.

                 (ii) Investment of Transferred Amounts: Transferred Amounts
shall be invested in available Funds as directed by the participant in
accordance with the investment provisions of Article III and IV. In the event
the participant fails to issue an investment direction, the Transferred Amounts
shall be invested in the Stable Value Fund.

                 (iii) Vesting in Transferred Amounts: A participant's vested
interest in his Transferred Amount shall be determined in accordance with the
rules of

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<PAGE>

subparagraph 72 of Paragraph A of Article IX hereof, provided that all
prior service credit taken into account under the Westinghouse Savings Program
shall be treated as service with CBS, and further provided that a participant's
vested interest in the Transferred Amounts under the Investment Fund shall be no
less than his vested interest under the Westinghouse Savings Program determined
as of the date such amounts are transferred to this Investment Fund.

                 (iv) Distribution and Withdrawals of Transferred Amounts: The
requirements of Article VI shall govern the withdrawal and distribution of
Transferred Amounts in the same manner as if such amounts were originally
contributed to this Investment Fund. In addition, (a) to the extent that a
distribution or withdrawal (other than on account of hardship) consists of
amounts in the Company Stock Fund, the participant may, with respect to
Transferred Amounts in such Company Stock Fund, elect to receive such amounts in
cash or Viacom Inc. Stock, (b) a participant may withdraw at any time the
Transferred Amounts credited to his rollover contributions subaccount, (c) a
participant who is 100% vested in his Employer matching contributions subaccount
may elect at any time to withdraw Transferred Amounts credited to such
subaccount, and (d) a retired participant (a participant who has retired under
an Employer pension plan or who suffers a disability) may elect to have his
accounts distributed in cash, in automatic monthly or annual installments,
specified by the participant at retirement, without regard to the limitation in
Article VI.E.1(a) that the period over which such payments may be made may not
exceed 20 years. A retired participant who elects to receive monthly or annual
installments may cancel or change such election at any time. A retired
participant may elect a total or partial distribution of his accounts.

                 (v) Loans: A participant's Transferred Amount may include,
pursuant to procedures established by the Administrative Managers, as many as
two loans, without regard to whether one of the loans is for a primary
residence. Such loans may be reamortized to reflect different payroll periods.

         B. 2000 Transfer of Accounts from the Westinghouse Savings Program to
            the Investment Fund
           -------------------------------------------------------------------

            1. Any employee of the Corporation who was a participant in the
Westinghouse Savings Program at the end of the day on December 31, 1999 and is
an active employee of the Corporation on January 1, 2000 shall be eligible to
participate in the Investment Fund, effective January 1, 2000, with respect to
compensation earned after December 31, 1999. Effective January 1, 2000, the
Corporation shall be treated as an Employer under the Investment Fund with
respect to such individuals ("Transferred

                                       91
<PAGE>

 Individuals").

            2. All contributions made to the Investment Fund after December 31,
1999 shall be invested in accordance with a Transferred Individual's investment
direction as in effect under the Westinghouse Savings Program on December 8,
1999, until the Transferred Individual makes a different election with respect
to such contributions in accordance with Article IV.

            3. Amounts credited to accounts of participants in the Westinghouse
Savings Program who, as of December 31, 1999, are active employees of the
Corporation or an Employer and who (i) provided management services in a
position that after December 31, 1997 and before January 1, 2000 had been moved
from Pittsburgh to New York City, and whose accounts under the Westinghouse
Savings Program have not previously been spun-off and merged into the Investment
Fund, or (ii) provide services in Pittsburgh and have not been designated as
eligible for permanent job separation benefits under the Westinghouse Pension
Plan as of December 31, 1999, shall be transferred to the Investment Fund
effective January 6, 2000 ("Transferred Amount(s)").

            4. Transferred Amounts shall be subject to the following procedures:

               (i) Allocation and Accounting for Transferred Amounts: The
portion of a participant's Transferred Amount representing before-tax
contributions shall be allocated to his before-tax subaccount; the portion
representing after-tax contributions shall be allocated to his after-tax
subaccount; the portion representing rollover contributions shall be allocated
to his rollover contributions account; and the remaining portion shall be
allocated to the participant's Employer matching contribution subaccount. To the
extent a participant described in this Section XX.B has an election in place for
contributions in excess of 15% of the Employee's salary, contributions will be
reduced to 15% of the Employee's salary, first through a reduction to after-tax
contributions, then through a reduction to before-tax contributions.

               (ii) Investment of Transferred Amounts: Transferred Amounts shall
be invested in available Funds as follows:

        Investment under Westinghouse
                Savings Program                      Fund
                ---------------                      ----

      Fixed Income Fund                          Stable Value Fund

                                       92
<PAGE>

BT LifeCycle Short Range Fund                    Short Term Life Cycle Fund
BT LifeCycle Mid-Range Fund                      Medium Term Life Cycle Fund
JPM Institutional Diversified Fund               Medium Term Life Cycle Fund
BT LifeCycle Long Range Fund                     Long Term Life Cycle Fund
BT Equity 500 Index Fund                         S&P 500 Index Fund
Fidelity Growth & Income Portfolio               S&P 500 Index Fund
Janus Fund                                       S&P 500 Index Fund
American Century Ultra Fund                      Small Cap U.S. Equity Fund
JPM International Equity Fund                    International Equity Index Fund
CBS Stock Fund                                   Company Stock Fund (CBS)
Infinity Stock Fund                              Infinity Stock Fund

               (iii) Vesting in Transferred Amounts: A participant's vested
interest in his Transferred Amount shall be determined in accordance with the
rules of subparagraph 72 of Paragraph A of Article IX hereof, provided that all
prior service credit taken into account under the Westinghouse Savings Program
shall be treated as service with CBS, and further provided that a participant's
vested interest in the Transferred Amounts under the Investment Fund shall be no
less than his vested interest under the Westinghouse Savings Program determined
as of the date such amounts are transferred to this Investment Fund.

               (iv) Distribution and Withdrawals of Transferred Amounts: The
requirements of Article VI shall govern the withdrawal and distribution of
Transferred Amounts in the same manner as if such amounts were originally
contributed to this Investment Fund. In addition, (a) to the extent that a
distribution or withdrawal (other than account of hardship) consists of amounts
in the Company Stock Fund, the participant may, with respect to Transferred
Amounts in such Company Stock Fund, elect to receive such amounts in cash or
Viacom Inc. Stock, (b) a participant may withdraw at any time the Transferred
Amounts credited to his rollover contributions subaccount, (c) a participant who
is 100% vested in his Employer matching contributions subaccount may elect at
any time to withdraw Transferred Amounts credited to such subaccount, and (d) a
retired participant (a participant who has retired under an Employer pension
plan or who suffers a disability) may elect to have his accounts distributed in
cash, in automatic monthly or annual installments, specified by the participant
at retirement, without regard to the limitation in Article VI.E.1(a) that the
period over which such payments may be made may not exceed 20 years. A retired
participant who elects to receive monthly or annual installments may cancel or
change such election at any time. A retired participant may elect a total or
partial distribution of his accounts.

                                       93
<PAGE>

               (v) Loans: A participant's Transferred Amount may include,
pursuant to procedures established by the Administrative Managers, as many as
two loans, without regard to whether one of the loans is for a primary
residence. Such loans may be reamortized to reflect different payroll periods.

                                       94
<PAGE>

                                   APPENDIX A
                                   ----------

1.    Salary for Employees Not on Basic Payroll (Not Including Employees of the
      Corporation Primarily Providing Services to a Subsidiary or Division of
      the Corporation that was Part of Westinghouse Electric Corporation Prior
      to November 24, 1995 and Engaged in the Business of Radio and/or
      Television Broadcasting, Cable Operations, Satellite Operations, or
      Related Businesses)

      This appendix sets forth the definition of "salary" in the case of certain
categories of Employees whose regular compensation is not payable entirely on a
weekly or biweekly or semimonthly salary basis.

      Salespeople on commission. The salary of a salesperson shall be equal to
the sum of:

      (a)    100% of the first $40,000 (or such other amount as the Board of
             Directors may determine by resolution) of base salary and
             commissions earned during the previous calendar year, plus

      (b)    50% of base salary and commissions exceeding $40,000 (or such other
             amount as the Board of Directors may determine by resolution)
             during the previous calendar year.

      In no event will the salary for a salesperson be less than the
salesperson's base salary.

      Talent employees. The salary of a "talent employee" shall be equal to the
sum of:

      (a)    100% of the talent employee's actual compensation (excluding
             bonuses, overtime, deferred compensation and additional
             compensation of any kind) up to $100,000, plus

      (b)    50% of the talent employee's actual compensation (excluding
             bonuses, overtime, deferred compensation and additional
             compensation of any kind) in excess of $100,000.

         In no event shall compensation in excess of $550,000 be considered in
determining a talent employee's salary. Further, in no event shall a talent
employee's salary in any year be less than the lesser of (1) such talent
employee's salary in the prior year, or (2) such talent employee's actual
compensation for the current year.

                                       95
<PAGE>

2.    Salary for Employees Not on Basic Payroll Who are Employees of the
      Corporation Primarily Providing Services to a Subsidiary or Division of
      the Corporation that was Part of Westinghouse Electric Corporation Prior
      to November 24, 1995 and Engaged in the Business of Radio and/or
      Television Broadcasting, Cable Operations, Satellite Operations, or
      Related Businesses)

      This appendix sets forth the definition of "salary" in the case of certain
categories of Employees whose regular compensation is not payable entirely on a
weekly or biweekly or semimonthly salary basis.

      Salespeople on commission. The salary of a salesperson shall be equal to:

      (a)    for individuals employed during the period December 1, 1995 through
             November 30, 1996, 100% of base salary and commissions earned
             during the 12-month period of December 1, 1995 through November 30,
             1996; or

      (b)    for individuals not employed during the period December 1, 1995
             through November 30, 1996, 100% of base salary and commissions
             projected to be earned during the current year.

      In no event will the salary of a salesperson be less than the
salesperson's base salary.

                                       96

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