Document:

ex4-1.htm

    Exhibit
4.1

    

    Execution
Version

     

    STOCKHOLDER
VOTING AGREEMENT

    

    THIS STOCKHOLDER VOTING
AGREEMENT (this “Agreement") is made this 12th
day of September, 2008, by and among Liberty Tire Services, LLC, a Delaware
limited liability company (“LTS”); Liberty Tire Services
of Ohio, LLC, a Delaware limited liability company and wholly owned subsidiary
of LTS (“Purchaser”);
GreenMan Technologies, Inc., a Delaware corporation (“GTI”); GreenMan Technologies
of Iowa, Inc., an Iowa corporation and wholly owned subsidiary of GTI (“GTIA”); GreenMan Technologies
of Minnesota, Inc., a Minnesota corporation and wholly owned subsidiary of GTI
(“GTMN” and, together
with GTIA, “Sellers”);
and the stockholders of GTI listed on Schedule A to this
Agreement (collectively, the “Stockholders” and each,
individually, a “Stockholder”).

    

    WHEREAS,
as of the date hereof, the Stockholders are the legal and beneficial owners of
record of shares of Common Stock of GTI as set forth on Schedule A attached
hereto (such shares, together with any shares of Common Stock or other voting or
equity securities of GTI hereafter acquired by any Stockholder prior to the
termination of this Agreement, being referred to herein collectively as the
“Shares”);

    

    WHEREAS, pursuant to the Asset Purchase
Agreement dated as of the date hereof (the “Purchase Agreement”), by and
among LTS, Purchaser, GTI, and Sellers, Purchaser has agreed to acquire
substantially all of the assets related to or used in connection with Sellers’
businesses of tire collection, disposal, shredding, processing, recycling and
sale of used tires, including without limitation the production of tire derived
fuel chips, tire derived mulch, tire shreds, crumb rubber and other tire derived
feedstock, located primarily in Iowa and Minnesota, although they also conduct
business in Illinois, Indiana, Kansas, Michigan, Missouri, Nebraska, North
Dakota, South Dakota and Wisconsin (such assets, as more specifically defined in
the Purchase Agreement, the “Purchased
Assets”);

    

    WHEREAS, as a condition to the
willingness of Purchaser to enter into the Purchase Agreement, Purchaser has
required that the Stockholders agree, and in order to induce the Purchaser to
enter into the Purchase Agreement, the Stockholders are willing to agree, during
the Term (as defined below), to vote in favor of the adoption of the Purchase
Agreement, the sale and purchase of the Purchased Assets and the transactions
contemplated by the Purchase Agreement and each other agreement contemplated
thereby (the “Contemplated
Transactions”) and to restrict the transfer or disposition of any of the
Shares; and

    

    WHEREAS, capitalized terms used in this
Agreement without definition shall have such meanings as ascribed to them under
the Purchase Agreement.

    

    NOW, THEREFORE, in consideration of the
foregoing and the mutual covenants and agreements contained herein, and for
other good and valuable consideration, the receipt of which is acknowledged by
each party hereto, and intending to be legally bound hereby, the parties hereby
agree, severally and not jointly, as follows:

    

    
      
         

      

      
        
        

         

      

      
         

      

    

    Section
1.       Voting of
Shares.  Each Stockholder covenants and agrees that during the
period beginning on the date hereof and ending on the earlier to occur of (i)
the Effective Time and (ii) the termination of the Purchase Agreement in
accordance with its terms (such date, the “Expiration Date”), at any
regular, special or adjourned meeting of the stockholders of GTI, however called
(a “Stockholders’
Meeting”), and in any action by written consent of the stockholders of
GTI (a “Written
Consent”), such Stockholder will vote, or cause to be voted by proxy or
otherwise, all of its respective Shares (i) in favor of the adoption of the
Purchase Agreement (as the Purchase Agreement may be modified or amended from
time to time in a manner not adverse to the Stockholders) and the approval of
the Contemplated Transactions, and (ii) against any Acquisition Proposal and
against any other action or transaction that may reasonably be construed to make
the consummation of the Contemplated Transactions by Purchaser more difficult or
expensive.  Prior to the Expiration Date, no Stockholder shall enter
into any agreement or understanding with any person or vote or give instructions
in any manner inconsistent with this Section 1.

    

    Section
2.       Transfer of
Shares.  Each Stockholder covenants and agrees that during the
Term that such Stockholder will not directly or indirectly (i) sell, assign,
transfer (including by merger, interspousal disposition pursuant to a domestic
relations proceeding or otherwise by operation of law), pledge, encumber or
otherwise dispose of any of its Shares, (ii) deposit any of its Shares into a
voting trust or enter into a voting agreement or arrangement with respect to the
Shares or grant any proxy or power of attorney with respect thereto which is
inconsistent with this Agreement or (iii) enter into any contract, option or
other voluntary arrangement or undertaking with respect to the direct or
indirect sale, assignment, transfer (including by merger, interspousal
disposition pursuant to a domestic relations proceeding or otherwise by
operation of law) or other disposition of any Shares.  In the event
any party to this Agreement dies prior to the Expiration Date, then this
Agreement shall be binding on the descendants, executors, administrators, heirs
and assigns of such party.  Any action or attempted action in
violation of this Agreement shall be null and void.

     

    Section
3.       Representations and
Warranties of the Stockholders.  Each Stockholder on its own
behalf hereby severally represents and warrants to Purchaser, solely with
respect to itself and its ownership of its Shares, but not with respect to any
other Stockholder, as follows:

    

    (a)           Ownership of
Shares.  On the date hereof, and except as specifically set
forth on Schedule
A attached hereto, such Shares are owned of record, legally, beneficially and
exclusively by such Stockholder.  Such Stockholder has sole
voting power, without restrictions, with respect to all of such
Shares.  Such Stockholder does not beneficially own any shares of
capital stock of GTI other than the Shares.

    

    (b)           Power; Binding
Agreement.  Such Stockholder has the legal capacity, power and
authority to enter into and perform all of its obligations under this Agreement.
This Agreement has been duly and validly executed and delivered by such
Stockholder and constitutes a valid and binding obligation of such Stockholder,
enforceable against such Stockholder in accordance with its terms.

    

    (c)           No
Encumbrances.  As of the date hereof the Shares are, and at all
times during the Term the Shares will be, free and clear of any Security Rights or other
Encumbrances.

    

    
      
         

      

      
        2

         

      

      
         

      

    

    Section
4.       No
Solicitation.  During the Term, each Stockholder agrees, in his
or her capacity as a stockholder of GTI, that he or she will not, nor will he or
she authorize or permit any of his or her agents and representatives to,
directly or indirectly, (a) initiate, solicit or encourage any inquiries or the
making of any Acquisition Proposal, (b) enter into any agreement with respect to
any Acquisition Proposal, or (c) participate in any discussions or negotiations
regarding, or furnish to any person any information with respect to, or take any
other action to facilitate any inquiries or the making of any proposal that
constitutes, or may reasonably be expected to lead to, any Acquisition
Proposal.  Notwithstanding the foregoing, each Stockholder who serves
as an officer or director of GTI may take such actions as are allowed under the
provisions of Section 3.7 of the Purchase Agreement.

    

    Section
5.       Termination.  The
term of this Agreement shall commence on the date as of which this agreement is
executed and shall continue in effect until the Expiration Date (the “Term”); provided, however, that at any time
from and after the date hereof this Agreement may be terminated by the written
agreement of the parties hereto, effective as of the date of such
writing.

    

    Section
6.       Specific
Performance.  Each party expressly understands and agrees that
any breach of this Agreement would cause irreparable harm to the other parties
and that, in addition to any other remedy which such party might have, an
aggrieved party shall be entitled to injunctive relief for, and to prevent, any
such breach, without the necessity of posting any bond or other
security.  The breaching party hereby agrees that should any aggrieved
party institute any action or proceeding for injunctive or similar equitable
relief to enforce these covenants, the breaching party waives and agrees not to
assert the claims or defenses that the aggrieved party has an adequate remedy at
law or that the aggrieved party will not suffer irreparable damage.

    

    Section
7.       Fiduciary
Duties.  Each Stockholder is signing this Agreement solely in
such Stockholder’s capacity as an owner of its respective Shares, and nothing
herein shall prohibit, prevent or preclude such Stockholder from taking or not
taking any action in his capacity as an officer or director of GTI.

    

    Section
8.       Miscellaneous.

    

    (a)           All notices given or made in connection
with this Agreement shall be in writing.  Delivery of written
notices shall be effective
upon receipt.  All deliveries shall be made to the following
addresses:

     

    if to LTS or
the Purchaser,
to:

     

    Liberty
Tire Services, LLC

    Dominion
Tower, Suite 3100

    625
Liberty Avenue

    Pittsburgh,
PA 15222

    Telephone:  412-562-0148

    Facsimile:  412-562-0248

    Attn:  Jeffrey
D. Kendall and General Counsel

    E-mail:  JKendall@LibertyTire.com

    

    
      
         

      

      
        3

         

      

      
         

      

    

    With a copy (which shall not constitute
notice) to:

     

    K&L
Gates LLP

    Henry W.
Oliver Building

    535
Smithfield Street

    Pittsburgh,
PA 15222

    Attn:  David
L. Forney, Esq.

    Telephone:  412-355-6330

    Facsimile:  412-355-6501

    E-mail:  David.Forney@klgates.com

    

    if to GTI or
Sellers, to:

     

    GreenMan
Technologies, Inc.

    7 Kimball
Lane, Building A

    Lynnfield,
MA 01940

    Attn:  Charles
E. Coppa, CFO

    Telephone:  781-224-2411

    Facsimile:  781-224-0114

    E-mail:  Coppagmt@aol.com

    

    With a copy (which shall not constitute
notice) to:

     

    Morse,
Barnes-Brown & Pendleton, P.C.

    Reservoir
Place

    1601
Trapelo Road

    Waltham,
MA 02451

    Attn:  Carl
Barnes, Esq.

    Telephone:  781-622-5930

    Facsimile:  781-622-5933

    E-mail:  cbarnes@mbbp.com

    

    If to the
Stockholders:

    

    At the addresses set forth on Schedule A attached
hereto,

    

    With a copy (which shall not constitute
notice) to:

    

    GreenMan
Technologies, Inc.

    7 Kimball
Lane, Building A

    Lynnfield,
MA 01940

    Attn:  Charles
E. Coppa, CFO

    Telephone:  781-224-2411

    Facsimile:  781-224-0114

    E-mail:  Coppagmt@aol.com

     

    or, at such other address as any of the
parties shall have furnished in writing to the other parties
hereto.

    

    
      
         

      

      
        4

         

      

      
         

      

    

    (b)           This Agreement and the agreements
specifically referred to herein, or in the Purchase Agreement, supersede any and
all oral or written agreements or understandings heretofore made relating to the
subject matter hereof and constitute the entire agreement of the parties
relating to the subject matter hereof.  This Agreement may not be
amended, modified or rescinded except by an instrument in writing signed by each
of the parties hereto.

    

    (c)           If any provision of this Agreement shall
be declared void or unenforceable by any judicial or administrative authority,
the validity of any other provision shall not be affected
thereby.  The parties hereto further agree to replace such void or
unenforceable provision of this Agreement with a valid and enforceable provision
that will achieve, to the extent possible, the mutual economic, business and
other purposes of such void or unenforceable provision.

    

    (d)           This
Agreement shall be binding upon and inure to the benefit of the parties, their
respective successors and permitted assigns.

    

    (e)           This
Agreement shall be governed by and construed in accordance with the laws of the
State of Delaware, without regard to its conflict of laws
doctrines.

    

    (f)           The
parties shall cooperate in good faith to resolve any dispute that may arise
under this Agreement; provided, that if any party
believes such dispute cannot be resolved by mutual agreement, then such dispute
shall be resolved by arbitration in accordance with the Streamlined Arbitration
Rules and Procedures (the “Rules”) of the American Arbitration
Association.  Any such arbitration shall be conducted in Wilmington,
Delaware or such other place as is mutually acceptable to the Stockholders and
the Purchaser by one arbitrator mutually acceptable to the parties involved in
such arbitration or, if such parties are unable to agree on an arbitrator, the
arbitrator shall be appointed in accordance with the rules of the American
Arbitration Association.  The decision and award of any such
arbitrator (which may include specific performance and injunctive relief) shall
be made in writing, and shall be final and valid, nonappealable, binding upon
the parties involved in such arbitration, and enforceable by any such party in
any court of competent jurisdiction.  Notwithstanding any provision of
this Agreement or the Rules to the contrary, no party will be eligible to
receive, and the arbitrator shall not have the authority to award, exemplary,
punitive, incidental, indirect or consequential damages, and the arbitrator
shall not have the authority to amend this Agreement.  In the event
that any dispute regarding this Agreement is resolved by arbitration pursuant to
this Section 8(f), the prevailing party shall be entitled to recover from the
non-prevailing party (or parties) the fees, costs and expenses (including, but
not limited to, the reasonable fees and expenses of counsel) incurred by the
prevailing party in connection with such action.

    

    (g)           Notwithstanding
the provisions of, and in addition to the rights set forth in, Section 8(f),
in the event of a breach of the
provisions of this
Agreement by a party to this Agreement during the Term, any non-breaching party
shall have the right to specific performance and injunctive relief, it being
acknowledged and agreed that money damages will not provide an adequate
remedy.

    

    
      
         

      

      
        5

         

      

      
         

      

    

    (h)           In the event litigation is maintained by
a party to this Agreement against any other party to enforce an arbitration
award rendered under
Section 8(f) or to seek specific performance of injunctive relief under Section
8(g), then the party prevailing in such litigation shall be entitled to recover
from the non-prevailing party reasonable attorneys' fees and costs of
suit.

    

    (i)           No
remedy conferred by any of the specific provisions of this Agreement is intended
to be exclusive of any other remedy, and each and every remedy will be
cumulative and will be in addition to every other remedy given here or now or
hereafter existing at law or in equity or by statute or otherwise. The election
of any one or more remedies will not constitute a waiver of the right to pursue
other available remedies.

    

    (j)           This Agreement may be executed in
several counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.

    

    (k)           No
Stockholder shall have any liability for any misrepresentation or breach by any
other Stockholder hereunder.

    

    

    [Signature
Page to follow]

    
      
         

      

      
        6

         

      

      
         

      

    

    IN WITNESS WHEREOF, the parties have
caused this Agreement to be duly executed under seal as of the date first
written above.

    

    

    LIBERTY
TIRE SERVICES, LLC

    

    BY: /s/Jeffrey D. Kendall    

    NAME:  Jeffrey
D. Kendall

    TITLE:  CEO

    

    

    LIBERTY
TIRE SERVICES OF OHIO, LLC

    

    BY: /s/Jeffrey D. Kendall    

    NAME:  Jeffrey
D. Kendall

    TITLE:  CEO

    

    

    GREENMAN
TECHNOLOGIES, INC.

    

    BY: /s/Lyle Jensen    

    NAME:   Lyle
Jensen

    TITLE:  CEO

    

    

    GREENMAN
TECHNOLOGIES OF

    MINNESOTA,
INC.

    

    BY: /s/Lyle Jensen    

    NAME:   Lyle
Jensen

    TITLE:  CEO

    

    

    GREENMAN
TECHNOLOGIES OF

    IOWA,
INC.

    

    BY: /s/Lyle Jensen    

    NAME:   Lyle
Jensen

    TITLE:  CEO

    

    

    
      
         

      

      
        7

      

      
         

      

    

     

    STOCKHOLDERS:

    

    

    /s/Maurice E. Needham    

    Maurice
E. Needham

    

    

    /s/Lyle Jensen    

    Lyle
Jensen

    

        

    /s/Allen Kahn    

    Dr. Allen
Kahn

    

    

    /s/Lew F. Boyd    

    Lew F.
Boyd

    

    

    /s/Nicholas
DeBenedictis    

    Nicholas
DeBenedictis

    

    

    /s/Charles E. Coppa    

    Charles
E. Coppa

    

    

    

    

    
      
         

      

      
        8

         

      

      
         

      

    

    SCHEDULE
A

    TO

    STOCKHOLDER VOTING
AGREEMENT

    

    

    

    
      	
              Stockholder

            	 
      	
              Shares
      Held

               

            
	
              Maurice
      E. Needham

              c/o
      Greenman Technologies, Inc.

              7
      Kimball Lane, Building A

              Lynnfield,
      MA 01940

               

            	 
      	
              1,268,783
      shares of Common Stock

               

               

               

            
	
              Lyle
      Jensen

              c/o
      Greenman Technologies, Inc.

              7
      Kimball Lane, Building A

              Lynnfield,
      MA 01940

               

            	 
      	
              635,052
      shares of Common Stock

               

            
	
              Dr.
      Allen Kahn

              c/o
      Greenman Technologies, Inc.

              7
      Kimball Lane, Building A

              Lynnfield,
      MA 01940

               

            	 
      	
              4,348,431
      shares of Common Stock

               

            
	
              Lew
      F. Boyd

              c/o
      Greenman Technologies, Inc.

              7
      Kimball Lane, Building A

              Lynnfield,
      MA 01940

               

            	 
      	
              275,678
      shares of Common Stock

            
	
              Nicholas
      DeBenedictis

              c/o
      Greenman Technologies, Inc.

              7
      Kimball Lane, Building A

              Lynnfield,
      MA 01940

               

            	 
      	
              397,454
      shares of Common Stock

               

               

            
	
              Charles
      E. Coppa

              c/o
      Greenman Technologies, Inc.

              7
      Kimball Lane, Building A

              Lynnfield,
      MA 01940

            	 
      	
              387,828
      shares of Common Stock

            

    

    

    

    
      
         

      

      
        9Exhibit 10.1

MIDWEST FEDERAL SAVINGS AND LOAN ASSOCIATION

OF ST. JOSEPH

EMPLOYEE STOCK OWNERSHIP PLAN

(adopted effective January 1, 200__)

MIDWEST FEDERAL SAVINGS AND LOAN ASSOCIATION OF ST.
JOSEPH

EMPLOYEE STOCK OWNERSHIP PLAN

          This
Employee Stock Ownership Plan (the “Plan”) has been executed on the ___day of
__________, 200__, by Midwest Federal Savings and Loan Association of St.
Joseph, a federally chartered savings and loan association. 

W I T N E S S E T H  T H A T

          WHEREAS,
the board of directors of the Association has resolved to adopt an employee
stock ownership plan for eligible employees of the Association and subsidiaries
of the Association, if any, in accordance with the terms and conditions set
forth herein; 

          NOW,
THEREFORE, the Association hereby adopts the following Plan setting forth the
terms and conditions pertaining to contributions by the Employer and the
payment of benefits to Participants and Beneficiaries. 

          IN
WITNESS WHEREOF, the Association has adopted this Plan and caused this
instrument to be executed by its duly authorized officers as of the above date.

	
 

	
 

	
ATTEST:

	
MIDWEST
 FEDERAL SAVINGS

	
 

	
AND LOAN
 ASSOCIATION OF

	
 

	
ST.
 JOSEPH

	
 

	
 

	

	

	
Secretary

	
President and Chief
 Executive Officer

CONTENTS

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Page No.

	
 

	
 

	
 

	
 

	 

	
Section 1.

	
 

	
Plan Identity

	
1

	
 

	
1.1

	
 

	
Name

	
1

	
 

	
1.2

	
 

	
Purpose

	
1

	
 

	
1.3

	
 

	
Effective Date

	
1

	
 

	
1.4

	
 

	
Fiscal Period

	
1

	
 

	
1.5

	
 

	
Single Plan for All Employers

	
1

	
 

	
1.6

	
 

	
Interpretation of Provisions

	
1

	
Section 2.

	
 

	
Definitions

	
1

	
Section 3.

	
 

	
Eligibility for Participation

	
8

	
 

	
3.1

	
 

	
Initial Eligibility

	
8

	
 

	
3.2

	
 

	
Definition of Eligibility Year

	
8

	
 

	
3.3

	
 

	
Terminated Employees

	
9

	
 

	
3.4

	
 

	
Certain Employees Ineligible

	
9

	
 

	
3.5

	
 

	
Participation and Reparticipation

	
9

	
 

	
3.6

	
 

	
Omission of Eligible Employee

	
9

	
 

	
3.7

	
 

	
Inclusion of Ineligible Employee

	
9

	
Section 4.

	
 

	
Contributions and Credits

	
10

	
 

	
4.1

	
 

	
Discretionary Contributions

	
10

	
 

	
4.2

	
 

	
Contributions for Stock Obligations

	
10

	
 

	
4.3

	
 

	
Conditions as to Contributions

	
10

	
 

	
4.4

	
 

	
Rollover Contributions

	
11

	
Section 5.

	
 

	
Limitations on Contributions and Allocations

	
11

	
 

	
5.1

	
 

	
Limitation on Annual Additions

	
11

	
 

	
5.2

	
 

	
Effect of Limitations

	
12

	
 

	
5.3

	
 

	
Limitations as to Certain Participants

	
12

	
 

	
5.4

	
 

	
Erroneous Allocations

	
13

	
Section 6.

	
 

	
Trust Fund and Its Investment

	
13

	
 

	
6.1

	
 

	
Creation of Trust Fund

	
13

	
 

	
6.2

	
 

	
Stock Fund and Investment Fund

	
13

	
 

	
6.3

	
 

	
Acquisition of Stock

	
14

	
 

	
6.4

	
 

	
Participants’ Option to Diversify

	
14

	
Section 7.

	
 

	
Voting Rights and Dividends on Stock

	
15

	
 

	
7.1

	
 

	
Voting and Tendering of Stock

	
15

	
 

	
7.2

	
 

	
Application of Dividends

	
16

	
Section 8.

	
 

	
Adjustments to Accounts

	
17

	
 

	
8.1

	
 

	
ESOP Allocations

	
17

	
 

	
8.2

	
 

	
Charges to Accounts

	
18

	
 

	
8.3

	
 

	
Stock Fund Account

	
18

	
 

	
8.4

	
 

	
Investment Fund Account

	
18

	
 

	
8.5

	
 

	
Adjustment to Value of Trust Fund

	
18

	
 

	
8.6

	
 

	
Participant Statements

	
18

	
Section 9.

	
 

	
Vesting of Participants’ Interests

	
19

	
 

	
9.1

	
 

	
Deferred Vesting in Accounts

	
19

	
 

	
9.2

	
 

	
Computation of Vesting Years

	
19

	
 

	
9.3

	
 

	
Full Vesting Upon Certain Events

	
20

	
 

	
9.4

	
 

	
Full Vesting Upon Plan Termination

	
21

	
 

	
 

	
 

	
 

	
 

	
 

	
9.5

	
 

	
Forfeiture, Repayment, and Restoral

	
21

	
 

	
9.6

	
 

	
Accounting for Forfeitures

	
21

	
 

	
9.7

	
 

	
Vesting and Nonforfeitability

	
21

	
Section 10.

	
 

	
Payment of Benefits

	
21

	
 

	
10.1

	
 

	
Benefits for Participants

	
21

	
 

	
10.2

	
 

	
Time for Distribution

	
22

	
 

	
10.3

	
 

	
Marital Status

	
23

	
 

	
10.4

	
 

	
Delay in Benefit Determination

	
23

	
 

	
10.5

	
 

	
Accounting for Benefit Payments

	
23

	
 

	
10.6

	
 

	
Options to Receive and Sell Stock

	
23

	
 

	
10.7

	
 

	
Restrictions on Disposition of Stock

	
24

	
 

	
10.8

	
 

	
Continuing Loan Provisions; Creations of Protections and Rights

	
25

	
 

	
10.9

	
 

	
Direct Rollover of Eligible Distribution

	
25

	
 

	
10.10

	
 

	
Waiver of 30-Day Period After Notice of Distribution

	
26

	
Section 11.

	
 

	
Rules Governing Benefit Claims and Review of Appeals

	
26

	
 

	
11.1

	
 

	
Claim for Benefits

	
26

	
 

	
11.2

	
 

	
Notification by Committee

	
26

	
 

	
11.3

	
 

	
Claims Review Procedure

	
26

	
Section 12.

	
 

	
The Committee and its Functions

	
26

	
 

	
12.1

	
 

	
Authority of Committee

	
26

	
 

	
12.2

	
 

	
Identity of Committee

	
27

	
 

	
12.3

	
 

	
Duties of Committee

	
27

	
 

	
12.4

	
 

	
Valuation of Stock

	
27

	
 

	
12.5

	
 

	
Compliance with ERISA

	
27

	
 

	
12.6

	
 

	
Action by Committee

	
28

	
 

	
12.7

	
 

	
Execution of Documents

	
28

	
 

	
12.8

	
 

	
Adoption of Rules

	
28

	
 

	
12.9

	
 

	
Responsibilities to Participants

	
28

	
 

	
12.10

	
 

	
Alternative Payees in Event of Incapacity

	
28

	
 

	
12.11

	
 

	
Indemnification by Employers

	
28

	
 

	
12.12

	
 

	
Nonparticipation by Interested Member

	
28

	
Section 13.

	
 

	
Adoption, Amendment, or Termination of the Plan

	
28

	
 

	
13.1

	
 

	
Adoption of Plan by Other Employers

	
28

	
 

	
13.2

	
 

	
Plan Adoption Subject to Qualification

	
29

	
 

	
13.3

	
 

	
Right to Amend or Terminate

	
29

	
Section 14.

	
 

	
Miscellaneous Provisions

	
29

	
 

	
14.1

	
 

	
Plan Creates No Employment Rights

	
29

	
 

	
14.2

	
 

	
Nonassignability of Benefits

	
29

	
 

	
14.3

	
 

	
Limit of Employer Liability

	
30

	
 

	
14.4

	
 

	
Treatment of Expenses

	
30

	
 

	
14.5

	
 

	
Number and Gender

	
30

	
 

	
14.6

	
 

	
Nondiversion of Assets

	
30

	
 

	
14.7

	
 

	
Separability of Provisions

	
30

	
 

	
14.8

	
 

	
Service of Process

	
30

	
 

	
14.9

	
 

	
Governing State Law

	
30

	
 

	
14.10

	
 

	
Employer Contributions Conditioned on Deductibility

	
30

	
 

	
14.11

	
 

	
Unclaimed Accounts

	
30

	
 

	
14.12

	
 

	
Qualified Domestic Relations Order

	
31

	
 

	
14.13

	
 

	
Use of Electronic Mediums to Provide Notices and Make
 Participant Elections

	
31

(ii)

	
 

	
 

	
 

	
 

	
 

	
Section 15.

	
 

	
Top-Heavy Provisions

	
31

	
 

	
15.1

	
 

	
Top-Heavy Plan

	
31

	
 

	
15.2

	
 

	
Definitions

	
32

	
 

	
15.3

	
 

	
Top-Heavy Rules of Application

	
33

	
 

	
15.4

	
 

	
Minimum Contributions

	
33

	
 

	
15.5

	
 

	
Top-Heavy Provisions Control in Top-Heavy Plan

	
34

(iii)

MIDWEST FEDERAL SAVINGS AND LOAN ASSOCIATION
OF ST. JOSEPH

EMPLOYEE STOCK OWNERSHIP PLAN

Section 1. Plan Identity. 

          1.1          Name.
The name of this Plan is “Midwest Federal Savings and Loan Association of St.
Joseph Employee Stock Ownership Plan.”  

          1.2          Purpose.
The purpose of this Plan is to describe the terms and conditions under which
contributions made pursuant to the Plan will be credited and paid to the
Participants and their Beneficiaries.  

          1.3          Effective
Date. The Effective Date of this Plan is January 1, 200__.  

          1.4          Fiscal
Period. This Plan shall be operated on the basis of a January 1 to December 31
fiscal year for the purpose of keeping the Plan’s books and records and
distributing or filing any reports or returns required by law.  

          1.5          Single
Plan for All Employers. This Plan shall be treated as a single plan with
respect to all participating Employers for the purpose of crediting
contributions and forfeitures and distributing benefits, determining whether
there has been any termination of Service, and applying the limitations set
forth in Section 5.  

          1.6          Interpretation
of Provisions. The Employers intend this Plan and the Trust Agreement to be a
qualified stock bonus plan under Section 401(a) of the Code and an employee
stock ownership plan within the meaning of Section 407(d)(6) of ERISA and
Section 4975(e)(7) of the Code. The Plan is intended to have its assets
invested primarily in qualifying employer securities of one or more Employers
within the meaning of Section 407(d)(3) of ERISA, and to satisfy any
requirement under ERISA or the Code applicable to such a plan.  

          Accordingly,
the Plan and Trust Agreement shall be interpreted and applied in a manner
consistent with this intent and shall be administered at all times and in all
respects in a nondiscriminatory manner. 

Section 2. Definitions.

          The
following capitalized words and phrases shall have the meanings specified when
used in this Plan and in the Trust Agreement, unless the context clearly
indicates otherwise: 

          “Account” means a Participant’s
interest in
the assets accumulated under this Plan as expressed in terms of a separate
account balance which is periodically adjusted to reflect his Employer’s
contributions, the Plan’s investment experience, and distributions and
forfeitures. 

          “Active Participant” means a Participant
who has satisfied the eligibility requirements under Section 3 and who has at least
1,000 Hours of Service during the current Plan Year. However, a Participant
shall not qualify as an Active Participant unless (i) he is in active Service
with an Employer as of the last day of the Plan Year, or (ii) he is on a
Recognized Absence as of that date, or (iii) his Service terminated during the
Plan Year by reason of Disability, death, or Normal Retirement. 

          “Association” means Midwest Federal
Savings
and Loan Association of St. Joseph and any entity which succeeds to the
business of Midwest Federal Savings and Loan Association of St. Joseph and
adopts this Plan as its own pursuant to Section 13.1 of the Plan.

          “Beneficiary” means the person or persons
who are designated by a Participant to receive benefits payable under the Plan
on the Participant’s death. In the absence of any designation or if all the
designated Beneficiaries shall die before the Participant dies or shall die
before all benefits have been paid, the Participant’s Beneficiary shall be his
surviving Spouse, if any, or his estate if he is not survived by a Spouse. The
Committee may rely upon the advice of the Participant’s executor or
administrator as to the identity of the Participant’s Spouse. 

          “Break in Service” means any Plan Year,
or,
for the initial eligibility computation period under Section 3.2, the
12-consecutive month period beginning on the first day of which an Employee has
an Hour of Service, in which an Employee has 500 or fewer Hours of Service.
Solely for this purpose, an Employee shall be considered employed for his
normal hours of paid employment during a Recognized Absence (said Employee
shall not be credited with more than 501 Hours of Service to avoid a Break in
Service), unless he does not resume his Service at the end of the Recognized
Absence. Further, if an Employee is absent for any period (i) by reason of the
Employee’s pregnancy, (ii) by reason of the birth of the Employee’s child,
(iii) by reason of the placement of a child with the Employee in connection
with the Employee’s adoption of the child, or (iv) for purposes of caring for
such child for a period beginning immediately after such birth or placement,
the Employee shall be credited with the Hours of Service which would normally
have been credited but for such absence, up to a maximum of 501 Hours of
Service. Hours of Service shall be credited only in the year in which the
absence from work begins, if a Participant would be prevented from incurring a
one-year Break in Service in such year solely because the period of absence is
treated as Hours of Service, or in any other case, in the immediately following
year. 

          “Code” means the Internal Revenue Code of
1986, as amended. 

          “Committee” means the committee
responsible
for the administration of this Plan in accordance with Section 12. 

          “Company” means St. Joseph Bancorp, Inc.,
the holding company of the Association, and any successor entity which succeeds
to the business of the Company. 

          “Disability” means the inability to
engage
in any substantial gainful activity by reason of any medically determinable
physical or mental impairment which can be expected to result in death or which
has lasted or can be expected to last for a continuous period of not less than
12 months. An individual shall not be considered to be permanently and totally
disabled unless he furnishes proof of the existence thereof in such form and
manner, and at such times, as the Committee may require. 

          “Eligible Employee” means an Employee,
other than an Employee identified in Section 3.4, who has performed 1,000 Hours
of Service in the applicable Eligibility Year in accordance with Section 3.2
and who has attained age 21. 

          “Employee” means any individual who is or
has been employed or self-employed by an Employer. “Employee” also means an
individual employed by a leasing organization who, pursuant to an agreement
between an Employer and the leasing organization, has performed services for
the Employer and any related persons (within the meaning of Section 414(n)(6)
of the Code) on a substantially full-time basis for more than one year, if such
services are performed under the primary direction or control of the Employer.
However, such a “leased employee” shall not be considered an Employee if (i) he
participates in a money purchase pension plan sponsored by the leasing
organization which provides for immediate participation, immediate full
vesting, and an annual contribution of at least 10 percent of the Employee’s
415 Compensation, and (ii) leased employees do not constitute more than 20
percent of the Employer’s total work force (including leased employees, but
excluding Highly Compensated Employees and any other Employees who have not
performed services for the Employer on a substantially full-time basis for at
least one year). 

-2-

          “Employer” means the Association or any
affiliate within the purview of section 414(b), (c) or (m) and 415(h) of the
Code, any other corporation, partnership, or proprietorship which adopts this
Plan with the Association’s consent pursuant to Section 13.1, and any entity
which succeeds to the business of any Employer and adopts the Plan pursuant to
Section 13.2. 

          “Entry Date” means the Effective Date of
the Plan and each July 1 and January 1 of each Plan Year after the Effective
Date. 

          “ERISA” means the Employee Retirement
Income Security Act of 1974 (P.L. 93-406, as amended). 

          “415 Compensation” shall mean:

	
 

	
 

	
 

	
          (a)          Wages
 (including overtime pay, bonuses and commissions), as defined in Code Section
 3401(a) for purposes of income tax withholding at the source. 

	
 

	
 

	
 

	
          (b)          Any
 elective deferral as defined in Code Section 402(g)(3) (any Employer
 contributions made on behalf of a Participant to the extent not includible in
 gross income and any Employer contributions to purchase an annuity contract
 under Code Section 403(b) under a salary reduction agreement) and any amount
 which is contributed or deferred by the Employer at the election of the
 Participant and which is not includible in gross income of the Participant by
 reason of Code Section 125(including any “deemed” Code Section 125
 compensation) (Cafeteria Plan), Code Section 457 or 132(f)(4) shall also be
 included in the definition of 415 Compensation.

	
 

	
 

	
 

	
          (c)          Taxable
 post-severance payments from a non-qualified, unfunded deferred compensation
 plan shall be included in the definition of Section 415 Compensation, but
 only if such amounts are paid within the later of (i) 2 1⁄2 months after
 severance from employment or (ii) the end of the limitation year that
 includes the date of severance that are payments that, absent a severance
 from employment, would have been paid to the Participant as regular
 compensation for services, or payments from accrued bona-fide sick, vacation,
 or other leave. To the extent permitted by Treasury Regulations Section
 1.415-1 et seq., such limitations shall not apply to disabled Participants
 and to Participants who severed employment due to qualified military service.
 “Severance from employment” shall be interpreted as set forth in Treasury
 Regulations Section 1.401(k)-1 et seq.

	
 

	
 

	
 

	
          (d)          415
 Compensation shall include amounts that are includible in income under Code
 Section 409A or Code Section 457(f)(1)(A). 

	
 

	
 

	
 

	
          (e)          415
 Compensation in excess of $230,000 (as indexed) shall be disregarded for all
 Participants. For purposes of this sub-section, the $230,000 limit shall be
 referred to as the “applicable limit” for the Plan Year in question. The
 $230,000 limit shall be adjusted for increases in the cost of living in
 accordance with Section 401(a)(17)(B) of the Code, effective for the Plan
 Year which begins within the applicable calendar year. For purposes of the
 applicable limit, 415 Compensation shall be prorated over short Plan Years
 and only compensation for the portion of the Plan Year during which the
 individual was a Participant shall be taken into account.

          “Highly Compensated Employee” for any
Plan
Year means an Employee who, during either that or the immediately preceding
Plan Year was at any time a five percent owner of the Employer (as defined in
Code Section 416(i)(1)) or, during the immediately preceding Plan Year, had 415
Compensation exceeding $100,000 (the limit for 2007) and was among the most
highly compensated one-fifth of all Employees (the $100,000 amount is adjusted
at the same time and in the same manner as under Code Section 415(d), the
Highly Compensated Employee dollar limit for 2008 is $105,000). For these
purposes, “the most highly compensated one-fifth of all Employees” shall be
determined by taking into account all individuals working 

-3-

for all
related Employer entities described in the definition of “Service,” but
excluding any individual who has not completed six months of Service, who
normally works fewer than 171⁄2 hours per week or in fewer than six months per
year, who has not reached age 21, whose employment is covered by a collective
bargaining agreement, or who is a nonresident alien who receives no earned
income from United States sources. The applicable year for which a
determination is being made is called a “determination year” and the preceding
12-month period is called a look-back year. 

          “Hours of Service” means hours to be
credited to an Employee under the following rules: 

	
 

	
 

	
 

	
          (a)          Each
 hour for which an Employee is paid or is entitled to be paid for services to
 an Employer is an Hour of Service.

	
 

	
 

	
 

	
          (b)          Each
 hour for which an Employee is directly or indirectly paid or is entitled to
 be paid for a period of vacation, holidays, illness, disability, lay-off,
 jury duty, temporary military duty, or leave of absence is an Hour of
 Service. However, except as otherwise specifically provided, no more than 501
 Hours of Service shall be credited for any single continuous period which an
 Employee performs no duties. No more than 501 Hours of Service will be
 credited under this paragraph for any single continuous period (whether or
 not such period occurs in a single computation period). Further, no Hours of
 Service shall be credited on account of payments made solely under a plan
 maintained to comply with worker’s compensation, unemployment compensation,
 or disability insurance laws, or to reimburse an Employee for medical
 expenses. 

	
 

	
 

	
 

	
          (c)          Each
 hour for which back pay (ignoring any mitigation of damages) is either
 awarded or agreed to by an Employer is an Hour of Service. However, no more
 than 501 Hours of Service shall be credited for any single continuous period
 during which an Employee would not have performed any duties. The same Hours
 of Service will not be credited both under paragraph (a) or (b) as the case
 may be, and under this paragraph (c). These hours will be credited to the
 employee for the computation period or periods to which the award or
 agreement pertains rather than the computation period in which the award
 agreement or payment is made. 

	
 

	
 

	
 

	
          (d)          Hours
 of Service shall be credited in any one period only under one of the
 foregoing paragraphs (a), (b) and (c); an Employee may not get double credit
 for the same period. 

	
 

	
 

	
 

	
          (e)          If
 an Employer finds it impractical to count the actual Hours of Service for any
 class or group of non-hourly Employees, each Employee in that class or group
 shall be credited with 90 Hours of Service for each bi-weekly pay period in
 which he has at least one Hour of Service. However, an Employee shall be
 credited only for his normal working hours during a paid absence. 

	
 

	
 

	
 

	
          (f)          Hours
 of Service to be credited on account of a payment to an Employee (including
 back pay) shall be recorded in the period of Service for which the payment
 was made. If the period overlaps two or more Plan Years, the Hours of Service
 credit shall be allocated in proportion to the respective portions of the
 period included in the several Plan Years. However, in the case of periods of
 31 days or less, the Administrator may apply a uniform policy of crediting
 the Hours of Service to either the first Plan Year or the second. 

	
 

	
 

	
 

	
          (g)          In
 all respects an Employee’s Hours of Service shall be counted as required by
 Section 2530.200b-2(b) and (c) of the Department of Labor’s regulations under
 Title I of ERISA. 

          “Investment Fund” means that portion of
the
Trust Fund consisting of assets other than Stock. Notwithstanding the above,
assets from the Investment Fund may be used to purchase Stock in the open 

-4-

market or
otherwise, or used to pay on the Stock Obligation, and shares so purchased will
be allocated to a Participant’s Stock Fund. 

          “Normal Retirement” means retirement on
or
after the Participant’s Normal Retirement Date. 

          “Normal Retirement Date” means the
Participant’s 65th birthday. 

          “Participant” means any Eligible Employee
who is an Active Participant participating in the Plan, or Eligible Employee or
former Employee who was previously an Active Participant and still has a
balance credited to his Account. 

          “Period of Uniformed Service” means the
length of time that an Employee serves in the Uniformed Services. 

          “Plan Year” means the twelve-month period
commencing January 1 and ending December 31 and each period of 12 consecutive
months beginning on January 1 of each succeeding year.

          “Recognized Absence” means a period for
which — 

	
 

	
 

	
 

	
          (a)          an
 Employer grants an Employee a leave of absence for a limited period, but only
 if an Employer grants such leave on a nondiscriminatory basis; or 

	
 

	
 

	
 

	
          (b)          an
 Employee is temporarily laid off by an Employer because of a change in
 business conditions; or 

	
 

	
 

	
 

	
          (c)          an
 Employee is on active military duty, but only to the extent that his
 employment rights are protected by the Military Selective Service Act of 1967
 (38 U.S.C. Sec. 2021). 

          “Reemployment After a Period of Uniformed
Service” 

                   (a)          “Reemployment
(or Reemployed) After a Period of Uniformed Service” means that an Employee
returned to employment with a Participating Employer, within the time frame set
forth in subparagraph (b) below, after a Period of Uniformed Service in the
Uniformed Services and the following rules corresponding to provisions of the
Uniformed Services Employment and Reemployment Rights Act of 1994 (“USERRA”)
apply: (i) he or she gives sufficient notice of leave to the Participating
Employer prior to commencing a Period of Uniformed Service, or is excused from
providing such notice; (ii) his or her employment with the Participating
Employer prior to a Period of Uniformed Service was not of a brief,
nonrecurrent nature that would preclude a reasonable expectation that such
employment would continue indefinitely or for a significant period; (iii) the
Participating Employer’s circumstances have not changed so that reemployment is
unreasonable or an undue hardship to the Participating Employer; and (iv) the
applicable cumulative Periods of Uniformed Service under USERRA equals five years
or less, unless service in the Uniformed Services: 

	
 

	
 

	
 

	
                         
(1)          in
 excess of five years is required to complete an initial Period of Uniformed
 Service; 

	
 

	
 

	
 

	
                         
(2)          prevents
 the Participant from obtaining orders releasing him or her from such Period
 of Uniformed Service prior to the expiration of a five-year period (through
 no fault of the Participant); 

-5-

	
 

	
 

	
 

	
                              (3)          is
 required in the National Guard for drill and instruction, field exercises or
 active duty training, or to fulfill necessary additional training, or to
 fulfill necessary additional training requirements certified in writing by
 the Secretary of the branch of Uniformed Services concerned; or 

	
 

	
 

	
 

	
                              (4)          for
 a Participant is 

	
 

	
 

	
 

	
                                   (A)          required
 other than for training under any provisions of law during a war or national
 agency declared by the President or Congress; 

	
 

	
 

	
 

	
                                   (B)          required
 (other than for training) in support of an operational mission for which
 personnel have been ordered to active duty other than during war or national
 emergency; 

	
 

	
 

	
 

	
                                   (C)          required
 in support of a critical mission or requirement of the Uniformed Services; or
 

	
 

	
 

	
 

	
                                   (D)          the
 result of being called into service as a member of the National Guard by the
 President in the case of rebellion or danger of rebellion against the
 authority of the United States Government or if the President is unable to
 execute the laws of the United States with the regular forces. 

                    (b)
              The
applicable statutory time frames within which an Employee must report to a
Participating Employer after a Period of Uniformed Service are as follows: 

	
 

	
 

	
 

	
                              (1)          If
 the Period of Uniformed Service was less than 31 days, 

	
 

	
 

	
 

	
                                   (A)          not
 later than the beginning of the first full regularly scheduled work period on
 the first full calendar day following the completion of the Period of
 Uniformed Service and the expiration of eight hours after a period of time
 allowing for the safe transportation of the Employee from the place of
 service in the Uniformed Services to the Employee’s residence; or 

	
 

	
 

	
 

	
                                   (B)          as
 soon as possible after the expiration of the eight-hour period of time
 referred to in Clause (A), if reporting within the period referred to in such
 clause is impossible or unreasonable through no fault of the Employee. 

	
 

	
 

	
 

	
                              (2)          In
 the case of an Employee whose Period of Uniformed Service was for more than
 30 days but less than 181 days, by submitting an application for reemployment
 with a Participating Employer not later than 14 days after the completion of
 the Period of Uniformed Service or, if submitting such application within
 such period is impossible or unreasonable through no fault of the Employee,
 the next first full calendar day when submission of such application becomes
 reasonable. 

	
 

	
 

	
 

	
                              (3)          In
 the case of an Employee whose Period of Uniformed Service was for more than
 180 days, by submitting an application for reemployment with a Participating
 Employer not later than 90 days after the completion of the Period of
 Uniformed Service. 

	
 

	
 

	
 

	
                              (4)          In
 the case of an Employee who is hospitalized for, or convalescing from, an
 illness or injury related to the Period of Uniformed Service the Employee
 shall apply for reemployment with a Participating Employer at the end of the
 period that is necessary for the 

-6-

	
 

	
 

	
 

	
Employee to
 recover. Such period of recovery shall not exceed two years, unless
 circumstances beyond the Employee’s control make reporting as above
 unreasonable or impossible. 

               
     (c)            Notwithstanding
subparagraph (a), Reemployment After a Period of Uniformed Service terminates
upon the occurrence of any of the following: 

	
 

	
 

	
 

	
               
           
(1)          a
 dishonorable or bad conduct discharge from the Uniformed Services; 

	
 

	
 

	
 

	
              
             (2)         any other
 discharge from the Uniformed Services under circumstances other than an
 honorable condition; 

	
 

	
 

	
 

	
    
       
               (3)         a discharge of
 a commissioned officer from the Uniformed Services by court martial, by
 commutation of sentence by court martial, or, in time of war, by the
 President; or 

	
 

	
 

	
 

	
       
                 
 (4)         a demotion of
 a commissioned officer in the Uniformed Services for absence without
 authorized leave of at least 3 months confinement under a sentence by court
 martial, or confinement in a federal or state penitentiary after being found
 guilty of a crime under a final sentence. 

          “Service” means an Employee’s
period(s) of
employment or self-employment with an Employer, excluding for initial
eligibility purposes any period in which the individual was a nonresident alien
and did not receive from an Employer any earned income which constituted income
from sources within the United States. An Employee’s Service shall include any
Service which constitutes Service with a predecessor Employer within the
meaning of Section 414(a) of the Code, provided, however, that Service with an
acquired entity shall not be considered Service under the Plan unless required
by applicable law or agreed to by the parties to such transaction. An
Employee’s Service shall also include any Service with an entity which is not
an Employer, but only either (i) in which the other entity is a member of a controlled
group of corporations or is under common control with other trades and
businesses within the meaning of Section 414(b) or 414(c) of the Code, and a
member of the controlled group or one of the trades and businesses is an
Employer, (ii) in which the other entity is a member of an affiliated service
group within the meaning of Section 414(m) of the Code, and a member of the
affiliated service group is an Employer, or (iii) all Employers aggregated with
the Employer under Section 414(o) of the Code (but not until the Proposed
Regulations under Section 414(o) become effective). Notwithstanding any
provision of this Plan to the contrary, contributions, benefits and service
credit with respect to qualified military service will be provided in accordance
with Section 414(u) of the Code. 

          “Spouse” means the individual, if any, to
whom a Participant is lawfully married on the date benefit payments to the
Participant are to begin, or on the date of the Participant’s death, if
earlier. A former Spouse shall be treated as the Spouse or surviving Spouse to
the extent provided under a qualified domestic relations order as described in
section 414(p) of the Code. 

          “Stock” means shares of the
Company’s
voting common stock or preferred stock meeting the requirements of Section
409(e)(3) of the Code issued by an Employer which is a member of the same
controlled group of corporations within the meaning of Code Section 414(b). The
term “Stock” shall include fractional shares, unless the context clearly
indicates otherwise. 

          “Stock Fund” means that portion of the
Trust Fund consisting of Stock. 

          “Stock Obligation” means an indebtedness
arising from any extension of credit to the Plan or the Trust which satisfies
the requirements set forth in Section 6.3 and which was obtained for any or all
of the following purposes: 

-7-

	
 

	
 

	
 

	
 

	
(i)

	
to acquire
 qualifying Employer securities as defined in Treasury Regulations §
 54.4975-12; 

	
 

	
 

	
 

	
 

	
(ii)

	
to repay
 such Stock Obligation; or 

	
 

	
 

	
 

	
 

	
(iii)

	
to repay a
 prior exempt loan. 

          “Trust” or “Trust Fund”
means the trust fund created under this Plan.  

          “Trust Agreement” means the agreement
between the Association and the Trustee concerning the Trust Fund. If any
assets of the Trust Fund are held in a co-mingled trust fund with assets of
other qualified retirement plans, “Trust Agreement” shall be deemed to include
the trust agreement governing that co-mingled trust fund. With respect to the
allocation of investment responsibility for the assets of the Trust Fund, the
provisions of Article II of the Trust Agreement are incorporated herein by
reference. 

          “Trustee” means one or more corporate
persons or individuals selected from time to time by the Association to serve
as trustee or co-trustees of the Trust Fund. 

          “Unallocated Stock Fund” means that
portion
of the Stock Fund consisting of the Plan’s holding of Stock which have been
acquired in exchange for one or more Stock Obligations and which have not yet
been allocated to the Participant’s Accounts in accordance with Section 4.2. 

          “Uniformed Service” means the performance
of duty on a voluntary or involuntary basis in the uniformed service of the
United States, including the U.S. Public Health Services, under competent
authority and includes active duty, active duty for training, initial activity
duty for training, inactive duty training, full-time National Guard duty, and
the period for which a person is absent from a position of employment for
purposes of an examination to determine the fitness of the person to perform
any such duty. 

          “Valuation Date” means for so long as
there
is a generally-recognized market for the Stock each business day. If at any
time there shall be no generally-recognized market for the Stock, then
“Valuation Date” shall mean the last day of the Plan Year and each other date
as of which the Committee shall determine the investment experience of the
Investment Fund and adjust the Participants’ Accounts accordingly. 

          “Valuation Period” means the period
following a Valuation Date and ending with the next Valuation Date. 

          “Vesting Year” means a unit of Service
credited to a Participant pursuant to Section 9.2 for purposes of determining
his vested interest in his Account. 

Section 3.          
Eligibility for
Participation.  

          3.1          Initial
Eligibility. An Eligible Employee shall enter the Plan as of the Entry Date
coincident with or next following the last day of the Eligible Employee’s first
Eligibility Year and attainment of age 21.  

          3.2          Definition
of Eligibility Year. “Eligibility Year” means an applicable eligibility period
(as defined below) in which the Eligible Employee has completed 1,000 Hours of
Service for the Employer. For this purpose:  

          (i)          an
Eligible Employee’s first “eligibility period” is the 12-consecutive month
period beginning on the first day on which he has an Hour of Service, and 

-8-

          (ii)          his
subsequent eligibility periods will be 12-consecutive month periods beginning
on each January 1 after that first day of Service. 

          3.3          Terminated Employees. No Employee shall
have any interest or rights under this Plan if he is never in active Service
with an Employer on or after the Effective Date. 

          3.4          Certain Employees Ineligible. 

	
 

	
 

	
 

	
               3.4-1.     No
 Employee shall participate in the Plan while his Service is covered by a
 collective bargaining agreement between an Employer and the Employee’s
 collective bargaining representative if (i) retirement benefits have been the
 subject of good faith bargaining between the Employer and the representative
 and (ii) the collective bargaining agreement does not provide for the
 Employee’s participation in the Plan. 

	
 

	
 

	
 

	
               3.4-2.     Leased
 Employees are not eligible to participate in the Plan. 

	
 

	
 

	
 

	
               3.4-3.     Employees
 who are nonresident aliens with no earned income (within the meaning of Code
 Section 911(d)(2)) from the Employer which constitutes income from sources
 within the United States (within the meaning of Code Section 861(a)(3)). 

	
 

	
 

	
 

	
               3.4-4.     An
 Eligible Employee may elect not to participate in the Plan, provided,
 however, such election is made solely to meet the requirements of Code
 Section 409(n). For an election to be effective for a particular Plan Year,
 the Eligible Employee or Participant must file the election in writing with
 the Plan Administrator no later than the last day of the Plan Year for which the
 election is to be effective. The Employer may not make a contribution under
 the Plan for the Eligible Employee or for the Participant for the Plan Year
 for which the election is effective, nor for any succeeding Plan Year, unless
 the Eligible Employee or Participant re-elects to participate in the Plan.
 The Eligible Employee or Participant may elect again not to participate, but
 not earlier than the first Plan Year following the Plan Year in which the
 re-election was first effective. 

          3.5          Participation and Reparticipation. Subject to the
satisfaction of the foregoing requirements, an Eligible Employee shall
participate in the Plan during each period of his Service from the date on
which he first becomes eligible until his termination. For this purpose, an
Eligible Employee who returns before five (5) consecutive one year Breaks in
Service who previously satisfied the initial eligibility requirements or who
returns after five (5) consecutive one year Breaks in Service with a vested
Account balance in the Plan shall re-enter the Plan as of the date of his
return to Service with an Employer. 

          3.6          Omission of Eligible Employee. If, in
any Plan Year, any Eligible Employee who should be included as a Participant in
the Plan is erroneously omitted and discovery of such omission is not made
until after a contribution by his Employer for the year has been made, the
Employer shall make a subsequent contribution with respect to the omitted
Eligible Employee in the amount which the said Employer would have contributed
regardless of whether or not it is deductible in whole or in part in any
taxable year under applicable provisions of the Code. 

          3.7          Inclusion of Ineligible Employee. If,
in any Plan Year, any person who should not have been included as a Participant
in the Plan is erroneously included and discovery of such incorrect inclusion
is not made until after a contribution for the year has been made, the Employer
shall not be entitled to recover the contribution made with respect to the
ineligible person regardless of whether or not a deduction is allowable with
respect to such contribution. In such event, the amount contributed with
respect to the ineligible person shall constitute a forfeiture for the fiscal
year in which the discovery is made. Any person who, after the close of a Plan
Year, is retroactively treated by the Company, an affiliated company or any 

-9-

other party as an Employee for such prior Plan Year shall not, for
purposes of the Plan, be considered an Employee for such prior Plan Year unless
expressly so treated as such by the Company.

	
 

	
 

	
Section 4.

	
Contributions and Credits.

          4.1         Discretionary Contributions.

          4.1-1.     The
Employer shall from time to time contribute, with respect to a Plan Year, such
amounts as it may determine from time to time. The Employer shall have no
obligation to contribute any amount under this Plan except as so determined in
its sole discretion. The Employer’s contributions and available forfeitures for
a Plan Year shall be credited as of the last day of the year to the Accounts of
the Active Participants in the manner set forth in Section 8.1-2.

          4.1-2.
    Upon a Participant’s Reemployment After a
Period of Uniformed Service, the Employer shall make an additional contribution
on behalf of such Participant that would have been made on his or her behalf
during the Plan Year or Years corresponding to the Participant’s Period of
Uniformed Service.

          4.2         Contributions for Stock
Obligations. If the Trustee, upon
instructions from the Committee, incurs any Stock Obligation upon the purchase
of Stock, the Employer may contribute for each Plan Year an amount sufficient
to cover all payments of principal and interest as they come due under the
terms of the Stock Obligation. If there is more than one Stock Obligation, the
Employer shall designate the one to which any contribution is to be applied.
Investment earnings realized on Employer contributions and any dividends paid
by the Employer on Stock held in the Unallocated Stock Account, shall be
applied to the Stock Obligation related to that Stock, subject to Section 7.2.

          In each
Plan Year in which Employer contributions, earnings on contributions, or
dividends on Stock in the Unallocated Stock Fund are used as payments under a
Stock Obligation, a certain number of shares of the Stock acquired with that
Stock Obligation which is then held in the Unallocated Stock Fund shall be
released for allocation among the Participants. The number of shares released
shall bear the same ratio to the total number of those shares then held in the
Unallocated Stock Fund (prior to the release) as (i) the principal and interest
payments made on the Stock Obligation in the current Plan Year bears to (ii)
the sum of (i) above, and the remaining principal and interest payments
required (or projected to be required on the basis of the interest rate in
effect at the end of the Plan Year) to satisfy the Stock Obligation.

          At the
direction of the Committee, the current and projected payments of interest
under a Stock Obligation may be ignored in calculating the number of shares to
be released in each year if (i) the Stock Obligation provides for annual
payments of principal and interest at a cumulative rate that is not less rapid
at any time than level annual payments of such amounts for 10 years, (ii) the
interest included in any payment is ignored only to the extent that it would be
determined to be interest under standard loan amortization tables, and (iii)
the term of the Stock Obligation, by reason of renewal, extension, or
refinancing, has not exceeded 10 years from the original acquisition of the
Stock.

          4.3         Conditions as to
Contributions. Employers’ contributions
shall in all events be subject to the limitations set forth in Section 5.
Contributions may be made in the form of cash, or securities and other property
to the extent permissible under ERISA, including Stock, and shall be held by
the Trustee in accordance with the Trust Agreement. In addition to the
provisions of Section 13.3 for the return of an Employer’s contributions in
connection with a failure of the Plan to qualify initially under the Code, any
amount contributed by an Employer due to a good faith mistake of fact, or based
upon a good faith but erroneous determination of its deductibility under
Section 404 of the Code, shall be returned to the Employer within one year
after the date on which the contribution was originally made, or within one
year after its nondeductibility has been finally determined. However, the
amount to be returned shall be reduced to take

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account of any adverse investment experience within the Trust Fund in
order that the balance credited to each Participant’s Account is not less that
it would have been if the contribution had never been made.

          4.4         Rollover Contributions.
This Plan shall not accept a direct rollover or rollover contribution of an
“eligible rollover distribution” as such term is defined in Section 10.9-1 of
the Plan.

	
 

	
 

	
Section 5.

	
Limitations on Contributions and Allocations.

          5.1         Limitation on Annual
Additions.
Notwithstanding anything herein to the contrary, allocation of Employer
contributions for any Plan Year shall be subject to the following:

	
 

	
 

	
 

	
              5.1-1     If
 allocation of Employer contributions in accordance with Section 4.1 will
 result in an allocation of more than one-third the total contributions for a
 Plan Year to the Accounts of Highly Compensated Employees, then allocation of
 such amount shall be adjusted so that such excess will not occur.

	
 

	
 

	
 

	
              5.1-2     After
 adjustment, if any, required by the preceding paragraph, the annual additions
 during any Plan Year to any Participant’s Account under this and any other
 defined contribution plans maintained by the Employer or an affiliate (within
 the purview of Section 414(b), (c) and (m) and Section 415(h) of the Code,
 which affiliate shall be deemed the Employer for this purpose) shall not
 exceed the lesser of $46,000 (or such other dollar amount which results from
 cost-of-living adjustments under Section 415(d) of the Code) (the “dollar
 limitation”) or 100 percent of the Participant’s 415 Compensation for such
 limitation year (the “percentage limitation”). The percentage limitation
 shall not apply to any contribution for medical benefits after separation
 from service (within the meaning of Section 401(h) or Section 419A(f)(2) of
 the Code) which is otherwise treated as an annual addition. If, as a result
 of the allocation of forfeitures, a reasonable error in estimating a
 Participant’s annual compensation, a reasonable error in determining the
 amount of elective deferrals (within the meaning of Code Section 402(g)(3))
 that may be made with respect to any individual under the limits of Code
 Section 415, or under other limited facts and circumstances that the
 Commissioner of the Internal Revenue Service finds justify the availability
 of the rules set forth in this paragraph, the annual additions under the
 terms of the Plan for a particular Participant would cause the limitations of
 Code Section 415 applicable to that Participant for the limitation year to be
 exceeded, the excess amounts shall not be deemed annual additions in that limitation
 year if they are treated in accordance with any one of the following:

	
 

	
 

	
 

	
             (i)     Any
 excess amount at the end of the Plan Year that cannot be allocated to the
 Participant’s Account shall be reallocated to the remaining Participants who
 are eligible for an allocation of Employer contributions for the Plan Year.
 The reallocation shall be made in accordance with Section 4.1 of the Plan as
 if the Participant whose Account otherwise would receive the excess amount is
 not eligible for an allocation of Employer contributions.

	
 

	
 

	
 

	
             (ii)     If
 the allocation or reallocation of the excess amounts causes the limitations
 of Code section 415 to be exceeded with respect to each Participant for the
 limitation year, then the excess amount will be held unallocated in a
 suspense account. The suspense account will be applied to reduce future
 Employer contributions for all remaining Participants in the next limitation
 year and each succeeding limitation year if necessary.

	
 

	
 

	
 

	
             (iii)    If
 a suspense account is in existence at any time during a limitation year, it
 will not participate in any allocation of investment gains and losses. All
 amounts held in suspense accounts must be allocated to Participants’ Accounts
 before any contributions may be made to the Plan for the limitation year.

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             (iv)     If
 a suspense account exists at the time of Plan termination, amounts held in
 the suspense account that cannot be allocated shall revert to the Employer.

	
 

	
 

	
 

	
             5.1-3     For
 purposes of this Section 5.1, the “annual addition” to a Participant’s
 Accounts means the sum of (i) Employer contributions, (ii) Employee
 contributions, if any, and (iii) forfeitures. For these purposes, annual
 additions to a defined contribution plan shall not include the allocation of
 the excess amounts remaining in the Unallocated Stock Fund subsequent to a
 sale of stock from such fund in accordance with a transaction described in
 Section 8.1 of the Plan.

	
 

	
 

	
 

	
             5.1-4     Notwithstanding
 the foregoing, if no more than one-third of the Employer contributions to the
 Plan for a year which are deductible under Section 404(a)(9) of the Code are
 allocated to Highly Compensated Employees (within the meaning of Section
 414(q) of the Internal Revenue Code), the limitations imposed herein shall
 not apply to:

	
 

	
 

	
 

	
             (i)        forfeitures
 of Employer securities (within the meaning of Section 409 of the Code) under
 the Plan if such securities were acquired with the proceeds of a loan
 described in Section 404(a)(9)(A) of the Code), or

	
 

	
 

	
 

	
             (ii)       Employer
 contributions to the Plan which are deductible under Section 404(a)(9)(B) and
 charged against a Participant’s Account.

	
 

	
 

	
 

	
             5.1-5     If
 the Employer contributes amounts, on behalf of Eligible Employees covered by
 this Plan, to other “defined contribution plans” as defined in Section 3(34)
 of ERISA, the limitation on annual additions provided in this Section shall
 be applied to annual additions in the aggregate to this Plan and to such
 other plans. Reduction of annual additions, where required, shall be
 accomplished first by reductions under such other plan pursuant to the
 directions of the named fiduciary for administration of such other plans or
 under priorities, if any, established under the terms of such other plans and
 then by allocating any remaining excess for this Plan in the manner and
 priority set out above with respect to this Plan. 

	
 

	
 

	
 

	
             5.1-6     A
 limitation year shall mean each 12 consecutive month period ending on
 December 31.

          5.2       Effect of Limitations. The Committee shall take
whatever action may be necessary from time to time to assure compliance with
the limitations set forth in Section 5.1. Specifically, the Committee shall see
that each Employer restrict its contributions for any Plan Year to an amount
which, taking into account the amount of available forfeitures, may be
completely allocated to the Participants consistent with those limitations.
Where the limitations would otherwise be exceeded by any Participant, further
allocations to the Participant shall be curtailed to the extent necessary to
satisfy the limitations. Where an excessive amount is contributed on account of
a mistake as to one or more Participants’ compensation, or there is an amount
of forfeitures which may not be credited in the Plan Year in which it becomes
available, the amount shall be corrected in accordance with Section 5.1-2 of
the Plan. If it is determined at any time that the Committee and/or Trustee has
erred in accepting and allocating any contributions or forfeitures under this
Plan, or in allocating net gain or loss pursuant to Sections 8.2 and 8.3, then
the Committee, in a uniform and nondiscriminatory manner, shall determine the
manner in which such error shall be corrected and shall promptly advise the
Trustee in writing of such error and of the method for correcting such error.
The Accounts of any or all Participants may be revised, if necessary, in order
to correct such error.

          5.3       Limitations as to Certain
Participants. Aside from the limitations
set forth in Section 5.1, if the Plan acquires any Stock in a transaction as to
which a selling shareholder or the estate of a deceased shareholder is claiming
the benefit of Section 1042 of the Code, the Committee shall see that none of
such 

-12-

Stock, and no other assets in lieu of such Stock, are allocated to the
Accounts of certain Participants in order to comply with Section 409(n) of the
Code.

          This
restriction shall apply at all times to a Participant who owns (taking into
account the attribution rules under Section 318(a) of the Code, without regard
to the exception for employee plan trusts in Section 318(a)(2)(B)(i) more
than 25 percent of any class of stock of a corporation which issued the Stock
acquired by the Plan, or another corporation within the same controlled group,
as defined in Section 409(l)(4) of the Code (any such class of stock hereafter
called a “Related Class”). For this purpose, a Participant who owns more than
25 percent of any Related Class at any time within the one year preceding the
Plan’s purchase of the Stock shall be subject to the restriction as to all
allocations of the Stock, but any other Participant shall be subject to the
restriction only as to allocations which occur at a time when he owns more than
25 percent of any Related Class.

          Further,
this restriction shall apply to the selling shareholder claiming the benefit of
Section 1042 and any other Participant who is related to such a shareholder
within the meaning of Section 267(b) of the Code, during the period beginning
on the date of sale and ending on the later of (1) the date that is ten years
after the date of sale, or (2) the date of the Plan allocation attributable to
the final payment of acquisition indebtedness incurred in connection with the
sale.

          This
restriction shall not apply to any Participant who is a lineal descendant of a
selling shareholder if the aggregate amounts allocated under the Plan for the
benefit of all such descendants do not exceed five percent of the Stock
acquired from the shareholder.

          5.4         Erroneous Allocations. No Participant shall be
entitled to any annual additions or other allocations to his Account in excess
of those permitted under Section 5. If it is determined at any time that the
administrator and/or Trustee have erred in accepting and allocating any
contributions or forfeitures under this Plan, or in allocating investment
adjustments, or in excluding or including any person as a Participant, then the
administrator, in a uniform and nondiscriminatory manner, shall determine the
manner in which such error shall be corrected, after taking into consideration
Sections 3.6 and 3.7 and any revenue procedure or other notice published by the
Internal Revenue Service regarding permissible correction methods, if
applicable, and shall promptly advise the Trustee in writing of such error and
of the method for correcting such error. The Accounts of any or all
Participants may be revised, if necessary, in order to correct such error.

	
 

	
 

	
Section 6.

	
Trust Fund and Its Investment.

          6.1         Creation of Trust Fund. All amounts received under
the Plan from Employers and investments shall be held as the Trust Fund
pursuant to the terms of this Plan and of the Trust Agreement between the
Association and the Trustee. The benefits described in this Plan shall be
payable only from the assets of the Trust Fund, and none of the Association,
any other Employer, its board of directors or trustees, its stockholders, its
officers, its employees, the Committee, and the Trustee shall be liable for
payment of any benefit under this Plan except from the Trust Fund.

          6.2         Stock Fund and Investment
Fund. The Trust Fund held by the
Trustee shall be divided into the Stock Fund, consisting entirely of Stock, and
the Investment Fund, consisting of all assets of the Trust other than Stock.
The Trustee shall have no investment responsibility for the Stock Fund, but shall
accept any Employer contributions made in the form of Stock, and shall acquire,
sell, exchange, distribute, and otherwise deal with and dispose of Stock in
accordance with the instructions of the Committee. The Trustee shall have full
responsibility for the investment of the Investment Fund, except to the extent
such responsibility may be delegated from time to time to one or more
investment managers pursuant to Section 2.3 of the Trust Agreement, or to the
extent the Committee directs the Trustee to purchase Stock with the assets in
the Investment Fund.

-13-

          6.3    Acquisition of Stock. From time to time the
Committee may, in its sole discretion, direct the Trustee to acquire Stock from
the issuing Employer or from shareholders, including shareholders who are or
have been Employees, Participants, or fiduciaries with respect to the Plan. The
Trustee shall pay for such Stock no more than its fair market value, which
shall be determined conclusively by the Committee pursuant to Section 12.4. The
Committee may direct the Trustee to finance the acquisition of Stock by
incurring or assuming indebtedness to the seller or another party which
indebtedness shall be called a “Stock Obligation.” The term “Stock Obligation”
shall refer to a loan made to the Plan by a disqualified person within the
meaning of Section 4975(e)(2) of the Code, or a loan to the Plan which is
guaranteed by a disqualified person. A Stock Obligation includes a direct loan
of cash, a purchase-money transaction, and an assumption of an obligation of a
tax-qualified employee stock ownership plan under Section 4975(e)(7) of the
Code (“ESOP”). For these purposes, the term “guarantee” shall include an
unsecured guarantee and the use of assets of a disqualified person as
collateral for a loan, even though the use of assets may not be a guarantee
under applicable state law. An amendment of a Stock Obligation in order to
qualify as an “exempt loan” is not a refinancing of the Stock Obligation or the
making of another Stock Obligation. The term “exempt loan” refers to a loan
that is primarily for the benefit of the Plan participants and their
beneficiaries and that satisfies the provisions of this paragraph. A
“non-exempt loan” fails to satisfy this paragraph. Any Stock Obligation shall
be subject to the following conditions and limitations:

	
 

	
 

	
 

	
          6.3-1 A
 Stock Obligation shall be for a specific term, shall not be payable on demand
 except in the event of default, and shall bear a reasonable rate of interest.

	
 

	
 

	
 

	
          6.3-2 A
 Stock Obligation may, but need not, be secured by a collateral pledge of
 either the Stock acquired in exchange for the Stock Obligation, or the Stock
 previously pledged in connection with a prior Stock Obligation which is being
 repaid with the proceeds of the current Stock Obligation. No other assets of
 the Plan and Trust may be used as collateral for a Stock Obligation, and no
 creditor under a Stock Obligation shall have any right or recourse to any
 Plan and Trust assets other than Stock remaining subject to a collateral
 pledge.

	
 

	
 

	
 

	
          6.3-3 Any
 pledge of Stock to secure a Stock Obligation must provide for the release of
 pledged Stock in connection with payments on the Stock obligations in the
 ratio prescribed in Section 4.2.

	
 

	
 

	
 

	
          6.3-4
 Repayments of principal and interest on any Stock Obligation shall be made by
 the Trustee only from Employer cash contributions designated for such
 payments, from earnings on such contributions, and from cash dividends
 received on Stock, in the last case, however, subject to the further
 requirements of Section 7.2. The payment on the Stock Obligation during the
 Plan Year must not exceed an amount equal to the sum of contributions and
 earnings received during such year or prior to such year, less such payments
 in prior years. Such contributions and earnings must be accounted for
 separately in the books and accounts of the Plan until the Stock Obligation
 is fully repaid.

	
 

	
 

	
 

	
          6.3-5 In
 the event of default of a Stock Obligation, the value of Plan assets
 transferred in satisfaction of the Stock Obligation must not exceed the
 amount of the default. If the lender is a disqualified person within the
 meaning of Section 4975 of the Code, a Stock Obligation must provide for a
 transfer of Plan assets upon default only upon and to the extent of the
 failure of the Plan to meet the payment schedule of said Stock Obligation.
 For purposes of this paragraph, the making of a guarantee does not make a
 person a lender.

          6.4    Participants’ Option to
Diversify.
The Committee shall provide for a procedure under which each Participant may,
during the qualified election period, elect to “diversify” a portion of the
Employer Stock allocated to his Account, as provided in Section 401(a)(28)(B)
of the Code. An election to 

-14-

diversify must be made on the prescribed form and filed with the
Committee within the period specified herein. For each of the first five (5)
Plan years in the qualified election period, the Participant may elect to
diversify an amount which does not exceed 25% of the number of shares allocated
to his Account since the inception of the Plan, less all shares with respect to
which an election under this Section has already been made. For the last year
of the qualified election period, the Participant may elect to have up to 50
percent of the value of his Account committed to other investments, less all
shares with respect to which an election under this Section has already been
made. The term “qualified election period” shall mean the six (6) Plan Year
period beginning with the first Plan Year in which a Participant has both
attained age 55 and completed 10 years of participation in the Plan. A
Participant’s election to diversify his Account may be made within each year of
the qualified election period and shall continue for the 90-day period
immediately following the last day of each year in the qualified election
period. Once a Participant makes such election, the Plan must complete
diversification in accordance with such election within 90 days after the end
of the period during which the election could be made for the Plan Year. In the
discretion of the Committee, the Plan may satisfy the diversification
requirement by any of the following methods:

	
 

	
 

	
 

	
          6.4-1    The
 Plan may distribute all or part of the amount subject to the diversification
 election.

	
 

	
 

	
 

	
          6.4-2    The
 Plan may offer the Participant at least three other distinct investment
 options, if available under the Plan. The other investment options shall
 satisfy the requirements of Regulations under Section 404(c) of the Employee
 Retirement Income Security Act of 1974, as amended (“ERISA”).

	
 

	
 

	
 

	
          6.4-3    The
 Plan may transfer the portion of the Participant’s Account subject to the
 diversification election to another qualified defined contribution plan of
 the Employer that offers at least three investment options satisfying the
 requirements of the Regulations under Section 404(c) of ERISA.

	
 

	
 

	
Section 7.

	
Voting Rights and Dividends on Stock.

	
 

	
 

	
              7.1

	
Voting and Tendering of Stock.

	
 

	
 

	
 

	
          7.1-1.
 The Trustee generally shall vote all shares of Stock held under the Plan in
 accordance with the written instructions of the Committee. However, if any
 Employer has a registration-type class of securities within the meaning of
 Section 409(e)(4) of the Code, or if a matter submitted to the holders of the
 Stock involves a merger, consolidation, recapitalization, reclassification,
 liquidation, dissolution, or sale of substantially all assets of an entity,
 then (i) the shares of Stock which have been allocated to Participants’
 Accounts shall be voted by the Trustee in accordance with the Participants’
 written instructions, and (ii) the Trustee shall vote any unallocated Stock,
 allocated Stock for which it has received no voting instructions, and Stock
 for which Participants vote to “abstain,” in the same proportions as it votes
 the allocated Stock for which it has received instructions from Participants.
 In the event no shares of Stock have been allocated to Participants’ Accounts
 at the time Stock is to be voted and any exempt loan which may be outstanding
 is not in default, each Participant shall be deemed to have one share of
 Stock allocated to his or her Account for the sole purpose of providing the
 Trustee with voting instructions.

          Notwithstanding
any provision hereunder to the contrary, all unallocated shares of Stock must
be voted by the Trustee in a manner determined by the Trustee to be for the
exclusive benefit of the Participants and Beneficiaries. Whenever such voting
rights are to be exercised, the Employers shall provide the Trustee, in a
timely manner, with the same notices and other materials as are provided to
other holders of the Stock, which the Trustee shall distribute to the
Participants. The Participants shall be provided with adequate 

-15-

opportunity to deliver their instructions to the Trustee regarding the
voting of Stock allocated to their Accounts. The instructions of the
Participants’ with respect to the voting of allocated shares hereunder shall be
confidential.

	
 

	
 

	
 

	
          7.1-2 In
 the event of a tender offer, Stock shall be tendered by the Trustee in the
 same manner as set forth above with respect to the voting of Stock.
 Notwithstanding any provision hereunder to the contrary, Stock must be
 tendered by the Trustee in a manner determined by the Trustee to be for the
 exclusive benefit of the Participants and Beneficiaries.

	
 

	
 

	
 

	
7.2     Application of
Dividends.

	
 

	
 

	
 

	
          7.2-1     Stock Dividends. Dividends
 on Stock which are received by the Trustee in the form of additional Stock
 shall be retained in the Stock Fund, and shall be allocated among the
 Participants’ Accounts and the Unallocated Stock Fund in accordance with
 their holdings of the Stock on which the dividends are paid.

	
 

	
 

	
 

	
          7.2-2     Cash Dividends. The
 treatment of dividends paid in cash shall be determined after consideration
 to whether the cash dividends are paid on Stock held in Participants’
 Accounts or the Unallocated Stock Fund.

	
 

	
 

	
 

	
                       (i)     On
 Stock in Participants’ Accounts. (A) Employer Exercises Discretion.
 Dividends on Stock credited to Participants’ Accounts which are received by
 the Trustee in the form of cash shall, at the direction of the Employer
 paying the dividends, either (i) be credited to the Accounts in accordance
 with Section 8.4(c) and invested as part of the Investment Fund, (ii) be
 distributed immediately to the Participants in proportion with the
 Participants’ Stock Fund Account balance (iii) be distributed to the
 Participants within 90 days of the close of the Plan Year in which paid in
 proportion with the Participants’ Stock Fund Account balance or (iv) be used
 to make payments on the Stock Obligation. If dividends on Stock allocated to
 a Participant’s Account are used to repay the Stock Obligation, Stock with a
 fair market value equal to the dividends so used must be allocated to such
 Participant’s Account in lieu of the dividends.

	
 

	
 

	
 

	
                       (B)     Participant
 Exercises Discretion over Dividend. In addition, in the sole discretion
 of the Employer, the Employer may grant Participants the right to elect: (I)
 to have cash dividends paid on shares of Stock credited to such Participants’
 Stock Fund Accounts distributed to the Participant, or (II) to leave the cash
 dividends allocated to the Participant’s Account in the Plan, to be credited
 to the Stock Fund Account and invested in shares of Stock. Dividends on which
 such election may be made will be fully vested in the Participant (even if
 not otherwise vested, absent the ability to make such election). Accordingly,
 the Employer may choose to offer this election only to Participants who are
 fully vested in their Account. In the event the Employer elects to give
 Participants the right to determine the treatment of such dividends, the
 Participant’s election shall be made by filing with the Committee the
 appropriate written direction as provided by the Committee at such time and
 in accordance with such procedures and limitations which the Committee may
 from time to time establish; provided, however, that the procedures
 established by the Committee shall provide a reasonable opportunity to change
 the election at least annually, may establish a default election if a
 Participant fails to make an affirmative election within the time established
 for making elections, may provide that the election is applicable for the
 Plan Year and cannot be revoked with respect to such Plan Year, shall
 otherwise be implemented in a manner such that the dividends paid or
 reinvested will constitute “applicable dividends” which may be deducted under
 Code Section 404(k), and are in accordance with applicable guidance issued or
 to be issued by the Secretary of the Treasury. If the Employer elects to give
 Participants the right to exercise the discretion in this

-16-

	
 

	
 

	
 

	
Paragraph 7.2-2(i)(B), the ability to make such election shall
 be available to the Participant with respect to dividends paid for the entire
 Plan Year.

	
 

	
 

	
 

	
                           (ii)     On
 Stock in the Unallocated Stock Fund. Dividends received on shares of
 Stock held in the Unallocated Stock Fund shall be applied to the repayment of
 principal and interest then due on the Stock Obligation used to acquire such
 shares. If the amount of dividends exceeds the amount needed to repay such
 principal and interest (including any prepayments of principal and interest
 deemed advisable by the Employer), then in the sole discretion of the
 Committee, the excess shall: (A) be allocated to Active Participants on a
 non-discriminatory basis, consistent with Section 7.2-2(i) above, and in
 the discretion of the Committee, treated as a dividend described in such
 Section, or (B) be deemed to be general earnings of the Trust Fund and used
 for paying appropriate Plan or Trust related expenditures for the Plan Year.
 Notwithstanding the foregoing, dividends paid on a share of Stock may not be
 used to make payments on a particular Stock Obligation unless the share was
 acquired with the proceeds of such loan or a refinancing of such loan.

	
 

	
 

	
Section 8.

	
Adjustments to Accounts.

          8.1     ESOP Allocations. Amounts available for allocation for a particular Plan Year will
be divided into two categories. The first category relates to shares of Stock
released from the Unallocated Stock Fund attributable to using cash dividends
to make Stock Obligation payments. The second category relates to contributions
made by the Employer, shares of Stock released from the Unallocated Stock Fund
on the basis of Employer contributions (or on the basis of the complete
repayment of the Stock Obligation through the sale or other disposition of
Stock in the Unallocated Stock Fund) and amounts forfeited from Stock Fund
Accounts pursuant to Section 9.5.

	
 

	
 

	
 

	
          8.1-1.    Shares
 of Stock attributable to the first category will be allocated to the Stock
 Fund Accounts of eligible Participants as follows:

	
 

	
 

	
 

	
             (i)     first,
 if dividends paid on shares of Stock held in Participants’ Stock Fund
 Accounts are used to make payments on an Stock Obligation, there shall be
 allocated to each such account a number of shares of Stock released from the
 Unallocated Stock Fund with a fair market value (determined as of the
 Valuation Date coincident with or immediately preceding the loan payment
 date) that at least equals the amount of dividends so used,

	
 

	
 

	
 

	
             (ii)     second,
 if necessary, any remaining shares of Stock shall be applied to reinstate
 amounts forfeited from Stock Fund Accounts of former employees who are
 entitled to a reinstatement under Section 9.5, and

	
 

	
 

	
 

	
             (iii)     finally,
 any remaining shares of Stock shall be allocated as a general investment gain
 in proportion to the number of shares held in the Active Participants’ Stock
 Fund Accounts as of the last Valuation Date of the Plan Year for which they
 are allocated in the same manner as described in Section 7.2-2(i).

	
 

	
 

	
 

	
          8.1-2.    Shares
 of Stock or cash attributable to the second category (i.e., Employer
 contributions, Stock released from the Unallocated Stock Fund on the basis of
 Employer contributions, and amounts forfeited) will be allocated to the Stock
 Fund Accounts or Investment Fund Accounts, as the case may be, pro rata, in
 proportion to the 415 Compensation of each Active Participant that was earned
 by such Participant during the period of the Plan Year in which such person
 participated in the Plan compared to total 415 Compensation for all Active
 Participants. 

-17-

	
 

	
 

	
 

	
          8.1-3.        Shares
 of Stock or cash attributable to contributions made under Section 4.1-2
 shall be allocated specifically to the Participants on whose behalf such
 contributions were made.

          8.2     Charges to Accounts. When a Valuation Date occurs, any distributions made to or on behalf of
any Participant or Beneficiary since the last preceding Valuation Date shall be
charged to the proper Accounts maintained for that Participant or Beneficiary.

          8.3     Stock Fund Account. Subject to the provisions of Sections 5 and 8.1, as of the
last day of each Plan Year, the Trustee shall credit to each Participant’s
Stock Fund Account: (a) the Participant’s allocable share of Stock purchased by
the Trustee or contributed by the Employer to the Trust Fund for that year; (b)
the Participant’s allocable share of the Stock that is released from the
Unallocated Stock Fund for that year; (c) the Participant’s allocable share of
any forfeitures of Stock arising under the Plan during that year; and (d) any
stock dividends declared and paid during that year on Stock credited to the
Participant’s Stock Fund Account.

          If, in any
Plan Year during which an outstanding Stock Obligation exists, the Employer
directs the Trustee to sell or otherwise dispose of a number of shares of Stock
in the Unallocated Stock Fund sufficient to repay, in its entirety, the Stock
Obligations, and following such repayment, there remains Stock or other assets
in the Unallocated Stock Fund, such Stock or other assets shall be allocated as
of the last day of the Plan Year in which the repayment occurred as earnings of
the Plan to Active Participants, in proportion to the number of shares held in
Active Participants’ Stock Fund Accounts.

          8.4     Investment Fund Account. Subject to the provisions of
Sections 5 and 8.1 as of the last day of each Plan Year, the Trustee shall
credit to each Participant’s Investment Fund Account: (a) the Participant’s
allocable share of any contribution for that year made by the Employer in cash
or in property other than Stock that is not used by the Trustee to purchase
Employer Stock or to make payments due under a Stock Obligation; (b) the
Participant’s allocable share of any forfeitures from the Investment Fund
Accounts of other Participants arising under the Plan during that year; (c) any
cash dividends paid during that year on Stock credited to the Participant’s
Stock Fund Account, other than dividends which are paid directly to the
Participant and other than dividends which are used to repay Stock Obligation;
and (d) the share of the net income or loss of the Trust Fund properly
allocable to that Participant’s Investment Fund Account, as provided in Section
8.5.

          8.5     Adjustment to Value of Trust
Fund. As of the last day of each
Plan Year, the Trustee shall determine: (i) the net worth of that portion of
the Trust Fund which consists of properties other than Stock (the “Investment
Fund”); and (ii) the increase or decrease in the net worth of the Investment
Fund since the last day of the preceding Plan Year. The net worth of the
Investment Fund shall be the fair market value of all properties held by the
Trustee under the Trust Agreement other than Stock, net of liabilities other
than liabilities to Participants and their beneficiaries. The Trustee shall
allocate to the Investment Fund Account of each Participant that percentage of
the increase or decrease in the net worth of the Investment Fund equal to the
ratio which the balances credited to the Participant’s Investment Fund Account
bear to the total amount credited to all Participants’ Investments Fund
Accounts. This allocation shall be made after application of Section 7.2, but
before application of Sections 8.1, 8.4 and 5.1.

          8.6     Participant Statements. Each Plan Year, the Trustee
will provide each Participant with a statement of his or her Account balances,
and the vested percentage thereof, as of the last day of the Plan Year.

-18-

	
 

	
 

	
Section 9.

	
Vesting of Participants’ Interests. 

          9.1          Vesting in Accounts. A Participant’s
vested interest in his Account shall be based on his Vesting Years in
accordance with the following table, subject to the balance of this Section 9: 

	
 

	
 

	
 

	
 

	
 

	
Vesting

 Years

	
 

	
Percentage of

 Interest Vested

	
 

	

	
 

	 

	
 

	
 

	
 

	
 

	
 

	
 

	
Fewer than 1

	
 

	
0

	
%

	
 

	
1

	
 

	
20

	
%

	
 

	
2

	
 

	
40

	
%

	
 

	
3

	
 

	
60

	
%

	
 

	
4

	
 

	
80

	
%

	
 

	
5 or more

	
 

	
100

	
%

	
 

          9.2          Computation of Vesting Years. For
purposes of this Plan, a “Vesting Year” means generally a Plan Year in which an
Eligible Employee has performed at least 1,000 Hours of Service, beginning with
the first Plan Year in which the Eligible Employee has completed an Hour of
Service with the Employer, and including Service with other Employers as provided
in the definition of “Service.” Notwithstanding the above, an Eligible Employee
who was employed with the Association in its pre-conversion mutual form (the
“Mutual Association”) shall receive credit for vesting purposes for each
calendar year, up to five years, of continuous employment with the Mutual
Association in which such Eligible Employee completed 1,000 Hours of Service
(such years shall also be referred to as “Vesting Years”). However, a
Participant’s Vesting Years shall be computed subject to the following
conditions and qualifications: 

	
 

	
 

	
 

	
                9.2-1            A
 Participant’s Vesting Years shall not include any Service prior to the date
 on which an Employee attains age 18. 

	
 

	
 

	
 

	
                9.2-2            To
 the extent applicable, a Participant’s vested interest in his Account
 accumulated before five (5) consecutive one year Breaks in Service shall be
 determined without regard to any Service after such five consecutive Breaks
 in Service. Further, if a Participant has five (5) consecutive one year
 Breaks in Service before his interest in his Account has become vested to
 some extent, pre-Break in Service years of Service shall not be required to
 be taken into account for purposes of determining his post-Break in Service
 vested percentage. 

	
 

	
 

	
 

	
                9.2-3
           To the extent
 applicable, in the case of a Participant who has five (5) or more consecutive
 one year Breaks in Service, the Participant’s pre-Break in Service will count
 in vesting of the Employer-derived post-Break in Service accrued benefit only
 if either: 

	
 

	
 

	
 

	
                (i)                such
 Participant has any nonforfeitable interest in the accrued benefit
 attributable to Employer contributions at the time of separation from
 Service, or 

	
 

	
 

	
 

	
                (ii)
               upon
 returning to Service the number of consecutive one year Breaks in Service is
 less than the number of years of Service. 

	
 

	
 

	
 

	
                9.2-4
          Notwithstanding
 any provision of the Plan to the contrary, calculation of service for
 determining Vesting Years with respect to qualified military service will be
 provided in accordance with Section 414(u) of the Code. 

-19-

	
 

	
 

	
 

	
                9.2-5          To
 the extent applicable, if any amendment changes the vesting schedule,
 including an automatic change to or from a top-heavy vesting schedule, any
 Participant with three (3) or more Vesting Years may, by filing a written
 request with the Employer, elect to have his vested percentage computed under
 the vesting schedule in effect prior to the amendment. The election period
 must begin not later than the later of sixty (60) days after the amendment is
 adopted, the amendment becomes effective, or the Participant is issued
 written notice of the amendment by the Employer or the Committee. 

	
 

	
 

	
          9.3          Full Vesting Upon Certain Events. 

	
 

	
 

	
                9.3-1          Notwithstanding
 Section 9.1, a Participant’s interest in his Account shall fully vest on the Participant’s
 Normal Retirement Date. The Participant’s interest shall also fully vest in
 the event that his Service is terminated by Disability or by death. 

	
 

	
 

	
 

	
                9.3-2          The
 Participant’s interest in his Account shall also fully vest in the event of a
 “Change in Control” of the Association, or the Company. For these purposes,
 “Change in Control” shall mean an event of a nature that (i) would be
 required to be reported in response to Item 5.01 of the Current Report on
 Form 8K, as in effect on the date hereof, pursuant to Section 13 or 15(d) of
 the Securities Exchange Act of 1934 (the “Exchange Act”); or (ii) results in
 a Change in Control of the Association or the Company within the meaning of
 the Home Owners’ Loan Act, as amended, and applicable rules and regulations
 promulgated thereunder as in effect at the time of the Change in Control
 (collectively, the “HOLA”); or (iii) without limitation such a Change in
 Control shall be deemed to have occurred at such time as (a) any “Person” (as
 the term is used in Sections 13(d) and 14(d) of the Exchange Act) is or
 becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange
 Act), directly or indirectly, of securities of the Association or the Company
 representing 25% or more of the Association’s or the Company’s outstanding
 securities except for any securities purchased by the Association’s employee
 stock ownership plan or trust; or (b) individuals who constitute the Board on
 the date hereof (the “Incumbent Board”) cease for any reason to constitute at
 least a majority thereof, provided, however, that this sub-section (b)
 shall not apply if the Incumbent Board is replaced by the appointment by a
 Federal banking agency of a conservator or receiver for the Association and, provided further that any person
 becoming a director subsequent to the date hereof whose election was approved
 by a vote of at least two-thirds of the directors comprising the Incumbent
 Board or whose nomination for election by the Company’s stockholders was
 approved by the same Nominating Committee serving under an Incumbent Board,
 shall be, for purposes of this clause (b), considered as though he were a
 member of the Incumbent Board; or (c) a reorganization, merger,
 consolidation, sale of all or substantially all the assets of the Association
 or the Company, or similar transaction in which the Association or Company is
 not the surviving institution occurs; or (d) a proxy statement is distributed
 soliciting proxies from stockholders of the Company, by someone other than
 the current management of the Company, seeking stockholder approval of a plan
 of reorganization, merger or consolidation of the Company or similar
 transaction with one or more corporations as a result of which the
 outstanding shares of the class of securities then subject to the Plan are to
 be exchanged for or converted into cash or property or securities not issued
 by the Company; or (e) a tender offer is made for 25% or more of the voting
 securities of the Company and the shareholders owning beneficially or of
 record 25% or more of the outstanding securities of the Company have tendered
 or offered to sell their shares pursuant to such tender offer and such
 tendered shares have been accepted by the tender offeror. Notwithstanding
 anything herein to the contrary, the reorganization of the Company by way of
 a second step conversion shall not be considered a “Change in Control.” 

	
 

	
 

	
 

	
                9.3-3          Upon
 a Change in Control described in 9.3-2, the Plan shall be terminated and the
 Plan Administrator shall direct the Trustee to sell a sufficient amount of
 Stock from the Unallocated 

-20-

	
 

	
 

	
 

	
Stock Fund
 to repay any outstanding Stock Obligation in full. The proceeds of such sale
 shall be used to repay such Stock Obligation. After repayment of the Stock
 Obligation, all remaining shares in the Unallocated Stock Fund (or the
 proceeds thereof, if applicable) shall be deemed to be earnings and shall be
 allocated in accordance with the requirements of Section 8.3. 

          9.4          Full Vesting Upon Plan Termination.
Notwithstanding Section 9.1, a Participant’s interest in his Account shall
fully vest upon termination of this Plan or upon the permanent and complete
discontinuance of contributions by his Employer. In the event of a partial
termination, the interest of each affected Participant shall fully vest with
respect to that part of the Plan which is terminated. 

          9.5          Forfeiture, Repayment, and Restoral. If
a Participant’s Service terminates before his interest in his Account is fully
vested, that portion which has not vested shall be forfeited after a one-year
break in service. If a Participant’s Service terminates prior to having any
portion of his Account become vested, such Participant shall be deemed to have
received a distribution of his vested interest immediately upon his termination
of Service. 

          If
a Participant who has suffered a forfeiture of the nonvested portion of his
Account returns to Service before he has five (5) consecutive one-year Breaks
in Service, the nonvested portion shall be restored, provided that, if the
Participant had received a distribution of his vested Account balance, the
amount distributed shall be repaid prior to such restoral. The Participant may
repay such amount at any time within five years after he has returned to
Service. The amount repaid shall be credited to his Account at the time it is
repaid; an additional amount equal to that portion of his Account which was
previously forfeited shall be restored to his Account at the same time from
other Employees’ forfeitures and, if such forfeitures are insufficient, then
from amounts allocated in accordance with Section 8.1-1(ii), and if
insufficient, then from a special contribution by his Employer for that year. A
Participant who was deemed to have received a distribution of his vested
interest in the Plan shall have his Account restored as of the first day on
which he performs an Hour of Service after his return. 

          In
addition, if a Participant did not receive a distribution of his vested Account
balance but his non-vested Account balance was forfeited after a one-year Break
in Service, such nonvested Account balance shall be restored if the Plan
terminates before the Participant has a five-year Break in Service. If the
Participant did not receive a distribution of his vested Account balance, any
forfeiture restored shall include earnings that would have been credited to the
Account but for the forfeiture. 

          9.6          Accounting for Forfeitures. If a
portion of a Participant’s Account is forfeited, Stock allocated to said
Participant’s Account shall be forfeited only after other assets are forfeited.
If interests in more than one class of Stock have been allocated to a
Participant’s Account, the Participant must be treated as forfeiting the same
proportion of each class of Stock. A forfeiture shall be charged to the
Participant’s Account as of the first day of the first Valuation Period in
which the forfeiture becomes certain pursuant to Section 9.5. Except as
otherwise provided in that Section, a forfeiture shall be added to the
contributions of the terminated Participant’s Employer which are to be credited
to other Participants pursuant to Section 4.1 as of the last day of the Plan
Year in which the forfeiture becomes certain. 

          9.7          Vesting and Nonforfeitability. A
Participant’s interest in his Account which has become vested shall be
nonforfeitable for any reason. 

	
 

	
 

	
Section 10.

	
  Payment of Benefits. 

          10.1        Benefits for Participants. For a
Participant whose Service ends for any reason, distribution will be made to or
for the benefit of the Participant or, in the case of the Participant’s death,
his Beneficiary, by payment in a lump sum, in accordance with Section 10.2.
Prior to any such distribution, any Participant 

-21-

entitled to a
distribution will receive a form upon which the Participant can elect the
manner of such distribution (e.g., whether to receive the distribution directly
or transfer such distribution to an individual retirement account or other
tax-qualified plan), a special tax notice regarding the consequences of such
distribution, and, if applicable, that the Participant has the right not to
consent to a distribution at such time. 

          If
a Participant so desires, he may direct how his benefits are to be paid to his
Beneficiary. Effective January 1, 2007, notice to the Participant with regard
to having the right to elect the manner in which his vested Account balance
will be distributed to him may be given up to 180 days before the first day of
the first period for which an amount is payable. If a deceased Participant did
not file a direction with the Committee, the Participant’s benefits shall be
distributed to his Beneficiary in a lump sum. Notwithstanding any provision to
the contrary, if the value of a Participant’s vested Account balance at the
time of any distribution does not exceed $1,000, then such Participant’s vested
Account shall be distributed, without regard to whether the Participant
consents, in a lump sum within 60 days after the end of the Plan Year in which
employment terminates. If the value of a Participant’s vested Account balance
is in excess of $5,000, then his benefits shall not be paid prior to his Normal
Retirement Date unless he elects an early payment date in a written election
filed with the Committee. A Participant may modify such an election at any
time, provided any new benefit payment date is at least 30 days after a
modified election is delivered to the Committee. Failure of a Participant to
consent to a distribution prior his Normal Retirement Date shall be deemed to
be an election to defer commencement of payment of any benefit under this
section. Notwithstanding the foregoing, unless a Participant elects to receive
a distribution, the Plan administrator shall transfer accounts of $1,000 or
more, but not exceeding $5,000, in a direct rollover to an individual
retirement plan designated by the Plan administrator in accordance with Code
Section 401(a)(31)(B) and the regulations promulgated thereunder. All distributions
of $5,000 or less that are made pursuant to this Section without the
Participant’s consent shall be made in cash. 

          10.2          Time for Distribution. 

	
 

	
 

	
 

	
                 10.2-1  If
 the Participant and, if applicable, with the consent of the Participant’s
 spouse, elects the distribution of the Participant’s Account balance in the
 Plan, distribution shall commence as soon as practicable following his
 termination of Service, but no later than one year after the close of the
 Plan Year in which the Participant separates from service by reason of
 attainment of Normal Retirement Age under the Plan, Disability, or death, or
 which is the fifth Plan Year following the Plan Year in which the Participant
 otherwise separates from Service, except that this clause shall not apply if
 the Participant is reemployed by the Employer before distribution is required
 to begin. 

	
 

	
 

	
 

	
                 10.2-2
 Unless the Participant elects otherwise, the distribution of the balance of a
 Participant’s Account shall commence not later than the 60th day after the
 latest of the close of the Plan Year in which - 

	
 

	
 

	
 

	
                 (i)          the
 Participant attains the age of 65; 

	
 

	
 

	
 

	
                 (ii)         occurs
 the tenth anniversary of the year in which the Participant commenced
 participation in the Plan; or 

	
 

	
 

	
 

	
                 (iii)
        the Participant terminates
 his Service with the Employer.

	
 

	
 

	
 

	
                 10.2-3
 Notwithstanding anything to the contrary, (1) with respect to a 5-percent
 owner (as defined in Code Section 416), distribution of a Participant’s
 Account shall commence (whether or not he remains in the employ of the
 Employer) not later than the April 1 of the calendar year next following the
 calendar year in which the Participant attains age 701⁄2, and (2) with respect
 to all other Participants, payment of a Participant’s benefit will commence
 not later than April 1 of the calendar 

-22-

	
 

	
 

	
 

	
year
 following the calendar year in which the Participant attains age 701⁄2, or, if
 later, the year in which the Participant retires. A Participant’s benefit
 from that portion of his Account committed to the Investment Fund shall be
 calculated on the basis of the most recent Valuation Date before the date of
 payment. 

	
 

	
 

	
 

	
                 10.2-4
 Distribution of a Participant’s Account balance after his death shall comply
 with the following requirements: 

	
 

	
 

	
 

	
                 (i)          If
 a Participant dies before his distributions have commenced, distribution of
 his Account to his Beneficiary shall commence not later than one year after
 the end of the Plan Year in which the Participant died; however, if the
 Participant’s Beneficiary is his surviving Spouse, distributions may commence
 on the date on which the Participant would have attained age 701⁄2. In either
 case, distributions shall be completed within five years after they commence.
 

	
 

	
 

	
 

	
                (ii)          If
 the Participant dies after distribution has commenced pursuant to Section
 10.1 but before his entire interest in the Plan has been distributed to him,
 then the remaining portion of that interest shall, in accordance with Section
 401(a)(9) of the Code, be distributed at least as rapidly as under the method
 of distribution being used under Section 10.1 at the date of his death. 

	
 

	
 

	
 

	
               (iii)          If
 a married Participant dies before his benefit payments begin, then the
 Committee shall cause the balance in his Account to be paid to his
 Beneficiary, provided, however, that no election by a married Participant of
 a different Beneficiary than his surviving Spouse shall be valid unless the
 election is accompanied by the Spouse’s written consent, which (i) must
 acknowledge the effect of the election, (ii) must explicitly provide either
 that the designated Beneficiary may not subsequently be changed by the
 Participant without the Spouse’s further consent, or that it may be changed
 without such consent, and (iii) must be witnessed by the Committee, its
 representative, or a notary public. This requirement shall not apply if the
 Participant establishes to the Committee’s satisfaction that the Spouse may
 not be located. 

	
 

	
 

	
 

	
                 10.2-5
   All distributions under this section shall be determined and made in
 accordance with Code Section 401(a)(9) and final Treasury Regulations
 Sections 1.401(a)(9)-1 through 1.401(a)(9)-9, including the minimum
 distribution incidental benefit requirements of Code Section 401(a)(9)(G).
 These provisions override any distribution options in the Plan inconsistent
 with Code Section 401(a)(9). 

          10.3          Marital Status. The Committee, the
Plan, the Trustee, and the Employers shall be fully protected and discharged
from any liability to the extent of any benefit payments made as a result of
the Committee’s good faith and reasonable reliance upon information obtained
from a Participant and his Employer as to his marital status. 

          10.4          Delay in Benefit Determination. If the
Committee is unable to determine the benefits payable to a Participant or
Beneficiary on or before the latest date prescribed for payment pursuant to
Section 10.1 or 10.2, the benefits shall in any event be paid within 60 days
after they can first be determined, with whatever makeup payments may be
appropriate in view of the delay. 

          10.5          Accounting for Benefit Payments. Any
benefit payment shall be charged to the Participant’s Account as of the first
day of the Valuation Period in which the payment is made. 

          10.6          Options to Receive Stock. Unless
ownership of virtually all Stock is restricted to active Employees and
qualified retirement plans for the benefit of Employees pursuant to the
certificates of incorporation or by-laws of the Employers issuing Stock, a
terminated Participant or the Beneficiary of a 

-23-

deceased
Participant may instruct the Committee to distribute the Participant’s entire
vested interest in his Account in the form of Stock. In that event, the
Committee shall apply the Participant’s vested interest in the Investment Fund
to purchase sufficient Stock from the Stock Fund or from any owner of Stock to
make the required distribution. In all other cases, other than as specifically
set forth in Section 10.1, the Participant’s vested interest in the Stock Fund
shall be distributed in shares of Stock, and his vested interest in the
Investment Fund shall be distributed in cash. If Stock acquired with the
proceeds of a Stock Obligation available for distribution consist of more than
one class of Stock, the Participant (or Beneficiary, if applicable) must
receive substantially the same proportion of each such class. 

          Any
Participant who receives Stock pursuant to Section 10.1, and any person who has
received Stock from the Plan or from such a Participant by reason of the
Participant’s death or incompetence, by reason of divorce or separation from
the Participant, or by reason of a rollover contribution described in Section
402(a)(5) of the Code, shall have the right to require the Employer which
issued the Stock to purchase the Stock for its current fair market value
(hereinafter referred to as the “put right”). The put right shall be
exercisable by written notice to the Committee during the first 60 days after
the Stock is distributed by the Plan, and, if not exercised in that period, during
the first 60 days in the following Plan Year after the Committee has
communicated to the Participant its determination as to the Stock’s current
fair market value. However, the put right shall not apply to the extent that
the Stock, at the time the put right would otherwise be exercisable, may be
sold on an established market in accordance with federal and state securities
laws and regulations. Similarly, the put option shall not apply with respect to
the portion of a Participant’s Account which the Employee elected to have
reinvested under Code Section 401(a)(28)(B). If the put right is exercised, the
Trustee may, if so directed by the Committee in its sole discretion, assume the
Employer’s rights and obligations with respect to purchasing the Stock. Notwithstanding
anything herein to the contrary, in the case of a plan established by a bank
(as defined in Code Section 581), the put option shall not apply if prohibited
by a federal or state law and Participants are entitled to elect their benefits
be distributed in cash. 

          The
Employer or the Trustee, as the case may be, may elect to pay for the Stock in
equal periodic installments, not less frequently than annually, over a period
beginning not later than 30 days after the exercise of the put right and not
exceeding five years, with adequate security and interest at a reasonable rate
on the unpaid balance, all such terms to be set forth in a promissory note
delivered to the seller with normal terms as to acceleration upon any uncured
default. 

          Nothing
contained herein shall be deemed to obligate any Employer to register any Stock
under any federal or state securities law or to create or maintain a public
market to facilitate the transfer or disposition of any Stock. The put right
described herein may only be exercised by a person described in the second
preceding paragraph, and may not be transferred with any Stock to any other
person. As to all Stock purchased by the Plan in exchange for any Stock
Obligation, the put right shall be nonterminable. The put right for Stock
acquired through a Stock Obligation shall continue with respect to such Stock
after the Stock Obligation is repaid or the Plan ceases to be an employee stock
ownership plan. 

          10.7          Restrictions on Disposition of Stock.
Except in the case of Stock which is traded on an established market, a
Participant who receives Stock pursuant to Section 10.1, and any person who has
received Stock from the Plan or from such a Participant by reason of the
Participant’s death or incompetence, by reason of divorce or separation from
the Participant, or by reason of a rollover contribution described in Section
402(a)(5) of the Code, shall, prior to any sale or other transfer of the Stock
to any other person, first offer the Stock to the issuing Employer and to the
Plan at the greater of (i) its current fair market value, or (ii) the purchase
price offered in good faith by an independent third party purchaser. This
restriction shall apply to any transfer, whether voluntary, involuntary, or by
operation of law, and whether for consideration or gratuitous. Either the
Employer or the Trustee may accept the offer within 14 days after it is
delivered. Any Stock distributed by the Plan shall bear a conspicuous legend
describing the right of first refusal under this 

-24-

Section 10.7,
as well as any other restrictions upon the transfer of the Stock imposed by
federal and state securities laws and regulations. 

          10.8          Continuing Loan Provisions; Creations of Protections
and Rights. Except as otherwise provided in Sections 10.6 and
10.7 and this Section, no shares of Employer Stock held or distributed by the
Trustee may be subject to a put, call or other option, or buy-sell arrangement.
The provisions of this Section shall continue to be applicable to such Stock
even if the Plan ceases to be an employee stock ownership plan under Section
4975(e)(7) of the Code. 

          10.9          Direct Rollover of Eligible Distribution.
A Participant or distributee may elect, at the time and in the manner
prescribed by the Trustee or the Committee, to have any portion of an eligible
rollover distribution paid directly to an eligible retirement plan specified by
the Participant or distributee in a direct rollover. 

	
 

	
 

	
 

	
                 10.9-1
 An “eligible rollover” is any distribution that 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
 Participant and the Participant’s Beneficiary, or for a specified period of
 ten years or more; any distribution to the extent such distribution is
 required under Code Section 401(a)(9); any hardship distribution described in
 Section 401(k)(2)(B)(i)(IV) of the Code; and the portion of any distribution
 that is not included in gross income (determined without regard to the
 exclusion for net unrealized appreciation with respect to employer
 securities). A portion of a distribution shall not fail to be an eligible
 rollover distribution merely because the portion consists of after-tax
 employee contributions which are not includible in gross income. However,
 such portion may be transferred only to an individual retirement account or
 annuity described in section 408(a) or (b) of the Code, or to a qualified
 defined contribution plan described in section 401(a) or 403(a) of the Code
 that agrees to separately accounting for the portion of such distribution
 which is includible in gross income and the portion of such distribution
 which is not so includible. 

	
 

	
 

	
 

	
                 10.9-2
 An “eligible retirement plan” is an individual retirement account described
 in Code Section 408(a), an individual retirement annuity described in Code
 Section 408(b), an annuity plan described in Code Section 403(a), or a
 qualified trust described in Code Section 401(a), that accepts the
 distributee’s eligible rollover distribution. An eligible retirement plan
 shall also include an annuity contract described in Section 403(b) of the
 Code and an eligible plan under Section 457(b) of the Code which is
 maintained by a state, or any agency or instrumentality of a state or
 political subdivision of a state and which agrees to separately account for amounts
 transferred into such plan from this Plan. 

	
 

	
 

	
 

	
                 10.9-3
 A “direct rollover” is a payment by the Plan to the eligible retirement plan
 specified by the distributee. 

	
 

	
 

	
 

	
                 10.9-4
 The term “distributee” shall refer to a deceased Participant’s Spouse or a
 Participant’s former Spouse who is the alternate payee under a qualified
 domestic relations order, as defined in Code Section 414(p), and effective
 January 1, 2007, shall include non-spouse Beneficiaries pursuant to Code
 Section 402(c)(11). 

	
 

	
 

	
 

	
                 10.9-5
 The Administrator shall provide Participants or other distributes of eligible
 rollover distributions with a written notice designed to comply with the
 requirements of Code Section 402(f). Such notice shall be provided within a
 reasonable period of time before making an eligible rollover distribution.
 Effective January 1, 2007, such notice may be provided up to 180 days before
 the first day of the first period for which an amount is payable. 

-25-

          10.10      Waiver of 30-Day Period After Notice of Distribution.
If a distribution is one to which Sections 401(a)(11) and 417 of the Code do
not apply, such distribution may commence less than 30 days after the notice
required under Treasury Regulations Section 1.411(a)-11(c) is given, provided
that: 

	
 

	
 

	
 

	
                (i)           the
 Trustee or Committee, as applicable, clearly informs the Participant that the
 Participant has a right to a period of at least 30 days after receiving the
 notice to consider the decision of whether or not to elect a distribution
 (and, if applicable, a particular option), and 

	
 

	
 

	
 

	
                (ii)          the
 Participant, after receiving the notice, affirmatively elects a distribution.
 

	
 

	
 

	
Section 11.

	
Rules Governing Benefit Claims and Review of Appeals.

          11.1        Claim for Benefits. Any Participant or
Beneficiary who qualifies for the payment of benefits shall file a claim for
his benefits with the Committee on a form provided by the Committee. The claim,
including any election of an alternative benefit form, shall be filed at least
30 days before the date on which the benefits are to begin. If a Participant or
Beneficiary fails to file a claim by the day before the date on which benefits become
payable, he shall be presumed to have filed a claim for payment for the
Participant’s benefits in the standard form prescribed by Sections 10.1 or
10.2. 

          11.2        Notification by Committee. Within 90
days after receiving a claim for benefits (or within 180 days, if special
circumstances require an extension of time and written notice of the extension
is given to the Participant or Beneficiary within 90 days after receiving the
claim for benefits), the Committee shall notify the Participant or Beneficiary
whether the claim has been approved or denied. If the Committee denies a claim
in any respect, the Committee shall set forth in a written notice to the
Participant or Beneficiary: 

	
 

	
 

	
 

	
                (i)           each
 specific reason for the denial;

	
 

	
 

	
 

	
                (ii)          specific
 references to the pertinent Plan provisions on which the denial is based; 

	
 

	
 

	
 

	
                (iii)         a
 description of any additional material or information which could be
 submitted by the Participant or Beneficiary to support his claim, with an
 explanation of the relevance of such information; and 

	
 

	
 

	
 

	
                (iv)          an
 explanation of the claims review procedures set forth in Section 11.3. 

          11.3         Claims Review Procedure. Within
60 days after a Participant or Beneficiary receives notice from the Committee
that his claim for benefits has been denied in any respect, he may file with
the Committee a written notice of appeal setting forth his reasons for
disputing the Committee’s determination. In connection with his appeal the
Participant or Beneficiary or his representative may inspect or purchase copies
of pertinent documents and records to the extent not inconsistent with other
Participants’ and Beneficiaries’ rights of privacy. Within 60 days after
receiving a notice of appeal from a prior determination (or within 120 days, if
special circumstances require an extension of time and written notice of the
extension is given to the Participant or Beneficiary and his representative
within 60 days after receiving the notice of appeal), the Committee shall
furnish to the Participant or Beneficiary and his representative, if any, a
written statement of the Committee’s final decision with respect to his claim,
including the reasons for such decision and the particular Plan provisions upon
which it is based. 

	
 

	
 

	
Section 12.

	
The Committee and its Functions.

          12.1         Authority of Committee. The Committee
shall be the “plan administrator” within the meaning of ERISA and shall have
exclusive responsibility and authority to control and manage the operation 

-26-

and administration of the Plan, including the interpretation and
application of its provisions, except to the extent such responsibility and
authority are otherwise specifically (i) allocated to the Association, the
Employers, or the Trustee under the Plan and Trust Agreement, (ii) delegated in
writing to other persons by the Association, the Employers, the Committee, or
the Trustee, or (iii) allocated to other parties by operation of law. The
Committee shall have exclusive responsibility regarding decisions concerning
the payment of benefits under the Plan. The Committee shall have no investment
responsibility with respect to the Investment Fund except to the extent, if
any, specifically provided in the Trust Agreement. In the discharge of its
duties, the Committee may employ accountants, actuaries, legal counsel, and
other agents (who also may be employed by an Employer or the Trustee in the
same or some other capacity) and may pay their reasonable expenses and
compensation.

          12.2     Identity of Committee. The Committee shall
consist
of three or more individuals selected by the Association. Any individual,
including a director, trustee, shareholder, officer, or Employee of an
Employer, shall be eligible to serve as a member of the Committee. The
Association shall have the power to remove any individual serving on the
Committee at any time without cause upon 10 days written notice, and any
individual may resign from the Committee at any time upon 10 days written
notice to the Association. The Association shall notify the Trustee of any
change in membership of the Committee.

          12.3     Duties of Committee. The Committee shall
keep
whatever records may be necessary to implement the Plan and shall furnish
whatever reports may be required from time to time by the Association. The
Committee shall furnish to the Trustee whatever information may be necessary to
properly administer the Trust. The Committee shall see to the filing with the
appropriate government agencies of all reports and returns required of the Plan
under ERISA and other laws.

          Further,
the Committee shall have exclusive responsibility and authority with respect to
the Plan’s holdings of Stock and shall direct the Trustee in all respects
regarding the purchase, retention, sale, exchange, and pledge of Stock and the
creation and satisfaction of Stock Obligations. The Committee shall at all
times act consistently with the Association’s long-term intention that the
Plan, as an employee stock ownership plan, be invested primarily in Stock.
Subject to the direction of the board as to the application of Employer
contributions to Stock Obligations, and subject to the provisions of Sections
6.4 and 10.6 as to Participants’ rights under certain circumstances to have
their Accounts invested in Stock or in assets other than Stock, the Committee
shall determine in its sole discretion the extent to which assets of the Trust
shall be used to repay Stock Obligations, to purchase Stock, or to invest in
other assets to be selected by the Trustee or an investment manager. No
provision of the Plan relating to the allocation or vesting of any interests in
the Stock Fund or the Investment Fund shall restrict the Committee from
changing any holdings of the Trust, whether the changes involve an increase or
a decrease in the Stock or other assets credited to Participants’ Accounts. In
determining the proper extent of the Trust’s investment in Stock, the Committee
shall be authorized to employ investment counsel, legal counsel, appraisers,
and other agents and to pay their reasonable expenses and compensation.

          12.4     Valuation of Stock. If the valuation of any
Stock
is not established by reported trading on a generally recognized public market,
the valuation of such Stock shall be determined by an independent appraiser.
For purposes of the preceding sentence, the term “independent appraiser” means
any appraiser meeting requirements similar to the requirements of the
regulations prescribed under Section 170(a)(1) of the Code. 

          12.5     Compliance with ERISA. The Committee shall
perform
all acts necessary to comply with ERISA. Each individual member or employee of
the Committee shall discharge his duties in good faith and in accordance with
the applicable requirements of ERISA.

-27-

          12.6     Action by Committee. All actions of the
Committee
shall be governed by the affirmative vote of a number of members which is a
majority of the total number of members currently appointed, including
vacancies. 

          12.7     Execution of Documents. Any instrument
executed by
the Committee shall be signed by any member or employee of the Committee.

          12.8     Adoption of Rules. The Committee shall adopt
such rules and regulations of uniform applicability as it deems necessary or
appropriate for the proper administration and interpretation of the Plan.

          12.9     Responsibilities to
Participants. The Committee shall
determine which Employees qualify to enter the Plan. The Committee shall
furnish to each Eligible Employee whatever summary plan descriptions, summary
annual reports, and other notices and information may be required under ERISA.
The Committee also shall determine when a Participant or his Beneficiary
qualifies for the payment of benefits under the Plan. The Committee shall
furnish to each such Participant or Beneficiary whatever information is
required under ERISA (or is otherwise appropriate) to enable the Participant or
Beneficiary to make whatever elections may be available pursuant to Sections 6
and 10, and the Committee shall provide for the payment of benefits in the
proper form and amount from the assets of the Trust Fund. The Committee may
decide in its sole discretion to permit modifications of elections and to defer
or accelerate benefits to the extent consistent with applicable law and the
best interests of the individuals concerned.

          12.10   Alternative Payees in Event of Incapacity.
If the Committee finds at
any time that an individual qualifying for benefits under this Plan is a minor
or is incompetent, the Committee may direct the benefits to be paid, in the
case of a minor, to his parents, his legal guardian, or a custodian for him
under the Uniform Gifts to Minors Act, or, in the case of an incompetent, to
his spouse, or his legal guardian, the payments to be used for the individual’s
benefit. The Committee and the Trustee shall not be obligated to inquire as to
the actual use of the funds by the person receiving them under this Section
12.10, and any such payment shall completely discharge the obligations of the
Plan, the Trustee, the Committee, and the Employers to the extent of the
payment.

          12.11   Indemnification by Employers. Except as
separately agreed
in writing, the Committee, and any member or employee of the Committee, shall
be indemnified and held harmless by the Employer, jointly and severally, to the
fullest extent permitted by ERISA, and subject to and conditioned upon
compliance with 12 C.F.R. Section 545.121, to the extent applicable, against
any and all costs, damages, expenses, and liabilities reasonably incurred by or
imposed upon it or him in connection with any claim made against it or him or
in which it or he may be involved by reason of its or his being, or having
been, the Committee, or a member or employee of the Committee, to the extent
such amounts are not paid by insurance.

          12.12   Nonparticipation by Interested Member. Any
member of the Committee
who also is a Participant in the Plan shall take no part in any determination
specifically relating to his own participation or benefits, unless his
abstention would leave the Committee incapable of acting on the matter.

Section
13.    Adoption,
Amendment, or Termination of the Plan.

          13.1     Adoption of Plan by Other Employers. With
the consent of the
Association, any entity may become a participating Employer under the Plan by
(i) taking such action as shall be necessary to adopt the Plan, (ii) becoming a
party to the Trust Agreement establishing the Trust Fund, and (iii) executing
and delivering such instruments and taking such other action as may be
necessary or desirable to put the Plan into effect with respect to the entity’s
Employees.

-28-

          13.2     Plan Adoption Subject to Qualification.
Notwithstanding any other
provision of the Plan, the adoption of the Plan and the execution of the Trust
Agreement are conditioned upon their being determined initially by the Internal
Revenue Service to meet the qualification requirements of Section 401(a) of the
Code, so that the Employers may deduct currently for federal income tax
purposes their contributions to the Trust and so that the Participants may
exclude the contributions from their gross income and recognize income only
when they receive benefits. In the event that this Plan is held by the Internal
Revenue Service not to qualify initially under Section 401(a), the Plan may be
amended retroactively to the earliest date permitted by U.S. Treasury
Regulations in order to secure qualification under Section 401(a). If this Plan
is held by the Internal Revenue Service not to qualify initially under Section
401(a) either as originally adopted or as amended, each Employer’s
contributions to the Trust under this Plan (including any earnings thereon)
shall be returned to it and this Plan shall be terminated. In the event that
this Plan is amended after its initial qualification and the Plan as amended is
held by the Internal Revenue Service not to qualify under Section 401(a), the
amendment may be modified retroactively to the earliest date permitted by U.S.
Treasury Regulations in order to secure approval of the amendment under Section
401(a).

          13.3     Right to Amend or Terminate. The
Association intends to
continue this Plan as a permanent program. However, each participating Employer
separately reserves the right to suspend, supersede, or terminate the Plan at
any time and for any reason, as it applies to that Employer’s Employees, and
the Association reserves the right to amend, suspend, supersede, merge,
consolidate, or terminate the Plan at any time and for any reason, as it
applies to the Employees of each Employer. No amendment, suspension,
supersession, merger, consolidation, or termination of the Plan shall (i)
reduce any Participant’s or Beneficiary’s proportionate interest in the Trust
Fund, (ii) reduce or restrict, either directly or indirectly, the benefit
provided any Participant prior to the amendment, or (iii) divert any portion of
the Trust Fund to purposes other than the exclusive benefit of the Participants
and their Beneficiaries prior to the satisfaction of all liabilities under the
Plan. Moreover, there shall not be any transfer of assets to a successor plan
or merger or consolidation with another plan unless, in the event of the
termination of the successor plan or the surviving plan immediately following
such transfer, merger, or consolidation, each participant or beneficiary would
be entitled to a benefit equal to or greater than the benefit he would have
been entitled to if the plan in which he was previously a participant or
beneficiary had terminated immediately prior to such transfer, merger, or
consolidation. Following a termination of this Plan by the Association, the
Trustee shall continue to administer the Trust and pay benefits in accordance
with the Plan as amended from time to time and the Committee’s instructions.

Section
14.    Miscellaneous
Provisions.

          14.1     Plan Creates No Employment Rights. Nothing
in this Plan shall
be interpreted as giving any Employee the right to be retained as an Employee
by an Employer, or as limiting or affecting the rights of an Employer to
control its Employees or to terminate the Service of any Employee at any time
and for any reason, subject to any applicable employment or collective
bargaining agreements.

          14.2     Nonassignability of Benefits. No
assignment, pledge, or
other anticipation of benefits from the Plan will be permitted or recognized by
the Employer, the Committee, or the Trustee. Moreover, benefits from the Plan
shall not be subject to attachment, garnishment, or other legal process for
debts or liabilities of any Participant or Beneficiary, to the extent permitted
by law. This prohibition on assignment or alienation shall apply to any
judgment, decree, or order (including approval of a property settlement
agreement) which relates to the provision of child support, alimony, or
property rights to a present or former spouse, child or other dependent of a
Participant pursuant to a state domestic relations or community property law,
unless the judgment, decree, or order is determined by the Committee to be a
qualified domestic relations order within the meaning of Section 414(p) of the
Code, as more fully set forth in Section 14.12 hereof.

-29-

        14.3       Limit of Employer Liability. The liability
of the
Employer with respect to Participants under this Plan shall be limited to
making contributions to the Trust from time to time, in accordance with Section
4.

        14.4       Treatment of Expenses. All expenses
incurred by the
Committee and the Trustee in connection with administering this Plan and Trust
Fund shall be paid by the Trustee from the Trust Fund to the extent the
expenses have not been paid or assumed by the Employer or by the Trustee. The
Committee may determine that, and shall inform the Trustee when, reasonable
expenses may be charged directly to the Account or Accounts of a Participant or
group of Participants to whom or for whose benefit such expenses are allocable,
subject to the guidelines set forth in Field Assistance Bulletin 2003-03, to
the extent not superseded, or any successor directive issued by the Department
of Labor.

        14.5       Number and Gender. Any use of the singular
shall be interpreted to include the plural, and the plural the singular. Any
use of the masculine, feminine, or neuter shall be interpreted to include the
masculine, feminine, or neuter, as the context shall require.

        14.6       Nondiversion of Assets. Except as provided
in
Sections 5.2 and 14.12, under no circumstances shall any portion of the
Trust Fund be diverted to or used for any purpose other than the exclusive
benefit of the Participants and their Beneficiaries prior to the satisfaction
of all liabilities under the Plan.

        14.7       Separability of Provisions. If any
provision of this
Plan is held to be invalid or unenforceable, the other provisions of the Plan
shall not be affected but shall be applied as if the invalid or unenforceable
provision had not been included in the Plan.

        14.8       Service of Process. The agent for the
service of
process upon the Plan shall be the president of the Association, or such other
person as may be designated from time to time by the Association.

        14.9       Governing State Law. This Plan shall be
interpreted in accordance with the laws of the State of Missouri to the extent
those laws are applicable under the provisions of ERISA.

        14.10     Employer Contributions Conditioned on
Deductibility. Employer Contributions to the Plan are
conditioned on deductibility under Code Section 404. In the event that the
Internal Revenue Service shall determine that all or any portion of an Employer
Contribution is not deductible under that Section, the nondeductible portion
shall be returned to the Employer within one year of the disallowance of the
deduction.

        14.11     Unclaimed Accounts. Neither the
Employer nor the Trustees
shall be under any obligation to search for, or ascertain the whereabouts of,
any Participant or Beneficiary. The Employer or the Trustees, by certified or
registered mail addressed to his last known address of record with the
Employer, shall notify any Participant or Beneficiary that he is entitled to a
distribution under this Plan, and the notice shall quote the provisions of this
Section. If the Participant or Beneficiary fails to claim his benefits or make
his whereabouts known in writing to the Employer or the Trustees within seven
(7) calendar years after the date of notification, the benefits of the
Participant or Beneficiary under the Plan will be disposed of as follows:

             (i)     If
the whereabouts of the Participant is unknown but the whereabouts of the
Participant’s Beneficiary is known to the Trustees, distribution will be made
to the Beneficiary.

             (ii)    If
the whereabouts of the Participant and his Beneficiary are unknown to the
Trustees, the Plan will forfeit the benefit, provided that the benefit is
subject to a claim for reinstatement if the Participant or Beneficiary make a claim for the forfeited benefit.

-30-

          Any payment
made pursuant to the power herein conferred upon the Trustees shall operate as
a complete discharge of all obligations of the Trustees, to the extent of the
distributions so made.

          14.12     Qualified Domestic Relations Order.
Section 14.2 shall not apply to a “qualified domestic relations order” defined
in Code Section 414(p), and such other domestic relations orders permitted to
be so treated under the provisions of the Retirement Equity Act of 1984.
Further, to the extent provided under a “qualified domestic relations order,” a
former Spouse of a Participant shall be treated as the Spouse or surviving
Spouse for all purposes under the Plan.

In the case of
any domestic relations order received by the Plan:

	
 

	
 

	
 

	
              (i)          The
 Employer or the Committee shall promptly notify the Participant and any other
 alternate payee of the receipt of such order and the Plan’s procedures for
 determining the qualified status of domestic relations orders, and

	
 

	
 

	
 

	
              (ii)          Within
 a reasonable period after receipt of such order, the Employer or the
 Committee shall determine whether such order is a qualified domestic
 relations order and notify the Participant and each alternate payee of such
 determination. The Employer or the Committee shall establish reasonable
 procedures to determine the qualified status of domestic relations orders and
 to administer distributions under such qualified orders.

          During any
period in which the issue of whether a domestic relations order is a qualified
domestic relations order is being determined (by the Employer or Committee, by
a court of competent jurisdiction, or otherwise), the Employer or the Committee
shall segregate in a separate account in the Plan or in an escrow account the
amounts which would have been payable to the alternate payee during such period
if the order had been determined to be a qualified domestic relations order. If
within eighteen (18) months the order (or modification thereof) is determined
to be a qualified domestic relations order, the Employer or the Committee shall
pay the segregated amounts (plus any interest thereon) to the person or persons
entitled thereto. If within eighteen (18) months it is determined that the
order is not a qualified domestic relations order, or the issue as to whether
such order is a qualified domestic relations order is not resolved, then the
Employer or the Committee shall pay the segregated amounts (plus any interest
thereon) to the person or persons who would have been entitled to such amounts
if there had been no order. Any determination that an order is a qualified
domestic relations order which is made after the close of the eighteen (18)
month period shall be applied prospectively only. The term “alternate payee” means
any Spouse, former Spouse, child or other dependent of a Participant who is
recognized by a domestic relations order as having a right to receive all, or a
portion of, the benefit payable under a Plan with respect to such Participant.

          14.13     Use of
Electronic Media to Provide Notices and Make Participant Elections. Pursuant
to Treasury Regulations Section 1.401(a)-21, the Plan may elect to use
electronic media to provide notices required to be provided to Participants
under the Plan and will accept elections from Participants communicated to the
Plan using such electronic media. 

Section 15.     Top-Heavy
Provisions.

            15.1     Top-Heavy Plan. This Plan is top-heavy
if any of the following conditions exist: 

	
 

	
 

	
 

	
              (i)          If
 the top-heavy ratio for this Plan exceeds sixty percent (60%) and this Plan
 is not part of any required aggregation group or permissive aggregation
 group;

-31-

	
 

	
 

	
 

	
            (ii)          If
 this Plan is a part of a required aggregation group (but is not part of a
 permissive aggregation group) and the aggregate top-heavy ratio for the group
 of Plans exceeds sixty percent (60%); or

	
 

	
 

	
 

	
            (iii)         If
 this Plan is a part of a required aggregation group and part of a permissive
 aggregation group and the aggregate top-heavy ratio for the permissive
 aggregation group exceeds sixty percent (60%). 

          15.2     Definitions.

	
 

	
 

	
 

	
            In making
 this determination, the Committee shall use the following definitions and
 principles:

	
 

	
 

	
 

	
            15.2-1
 The “Determination Date,” with respect to the first Plan Year of any plan,
 means the last day of that Plan Year, and with respect to each subsequent
 Plan Year, means the last day of the preceding Plan Year. If any other plan
 has a Determination Date which differs from this Plan’s Determination Date,
 the top-heaviness of this Plan shall be determined on the basis of the other
 plan’s Determination Date falling within the same calendar years as this
 Plan’s Determination Date.

	
 

	
 

	
 

	
            15.2-2 A
 “Key Employee” means any employee or former employee (including any deceased
 employee) who at any time during the plan year that includes the
 determination date was an officer of the employer having annual compensation
 greater than $150,000 (as adjusted under section 416(i)(1) of the Code), a
 5-percent owner of the employer, or a 1-percent owner of the employer having
 annual compensation of more than $150,000. For this purpose, annual
 compensation means compensation within the meaning of section 415(c)(3) of
 the Code. The determination of who is a key employee will be made in
 accordance with section 416(i)(1) of the Code and the applicable regulations
 and other guidance of general applicability issued thereunder.

	
 

	
 

	
 

	
            15.2-3 A
 “Non-key Employee” means an Employee who at any time during the five years
 ending on the top-heavy Determination Date for the Plan Year has received
 compensation from an Employer and who has never been a Key Employee, and the
 Beneficiary of any such Employee.

	
 

	
 

	
 

	
            15.2-4 A
 “required aggregation group” includes (a) each qualified Plan of the Employer
 in which at least one Key Employee participates in the Plan Year containing
 the Determination Date and (b) any other qualified Plan of the Employer which
 enables a Plan described in (a) to meet the requirements of Code Sections
 401(a)(4) or 410. For purposes of the preceding sentence, a qualified Plan of
 the Employer includes a terminated Plan maintained by the Employer within the
 period ending on the Determination Date. In the case of a required
 aggregation group, each Plan in the group will be considered a top-heavy Plan
 if the required aggregation group is a top-heavy group. No Plan in the
 required aggregation group will be considered a top-heavy Plan if the required
 aggregation group is not a top-heavy group. All Employers aggregated under
 Code Sections 414(b), (c) or (m) or (o) (but only after the Code Section
 414(o) regulations become effective) are considered a single Employer.

	
 

	
 

	
 

	
            15.2-5 A
 “permissive aggregation group” includes the required aggregation group of
 Plans plus any other qualified Plan(s) of the Employer that are not required
 to be aggregated but which, when considered as a group with the required
 aggregation group, satisfy the requirements of Code Sections 401(a)(4) and
 410 and are comparable to the Plans in the required aggregation group. No
 Plan in the permissive aggregation group will be considered a top-heavy Plan
 if the permissive aggregation group is not a top-heavy group. Only a Plan
 that is part of the required aggregation group will be considered a top-heavy
 Plan if the permissive aggregation group is top-heavy.

-32-

          15.3     Top-Heavy Rules of Application.

                      For
purposes of determining the value of Account balances and the present value of
accrued benefits the following provisions shall apply: 

	
 

	
 

	
 

	
            15.3-1
 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 (12) month period ending on the Determination Date.

	
 

	
 

	
 

	
            15.3-2
 For purposes of testing whether this Plan is top-heavy, the present value of
 an individual’s accrued benefits and an individual’s Account balances is
 counted only once each year. 

	
 

	
 

	
 

	
            15.3-3
 The Account balances and accrued benefits of a Participant who is not
 presently a Key Employee but who was a Key Employee in a Plan Year beginning
 on or after January 1, 1984 will be disregarded. 

	
 

	
 

	
 

	
            15.3-4
 Employer contributions attributable to a salary reduction or similar
 arrangement will be taken into account. Employer matching contributions also
 shall be taken into account for purposes of satisfying the minimum
 contribution requirements of Section 416(c)(2) of the Code and the Plan.

	
 

	
 

	
 

	
            15.3-5
 When aggregating Plans, the value of Account balances and accrued benefits
 will be calculated with reference to the Determination Dates that fall within
 the same calendar year.

	
 

	
 

	
 

	
            15.3-6
 The present values of accrued benefits and the amounts of account balances of
 an employee as of the determination date shall be increased by the
 distributions made with respect to the employee under the plan and any plan
 aggregated with the plan under Section 416(g)(2) of the Code during the
 1-year period ending on the determination date. The preceding sentence shall
 also apply to distributions under a terminated plan which, had it not been
 terminated, would have been aggregated with the plan under Section
 416(g)(2)(A)(i) of the Code. In the case of a distribution made for a reason
 other than separation from service, death, or disability, this provision
 shall be applied by substituting “five (5) year period” for “one (1) year
 period.”

	
 

	
 

	
 

	
            15.3-7
 Accrued benefits and Account balances of an individual shall not be taken
 into account for purposes of determining the top-heavy ratios if the
 individual has performed no services for the Employer during the one (1) year
 period ending on the applicable Determination Date. Compensation for purposes
 of this subparagraph shall not include any payments made to an individual by
 the Employer pursuant to a qualified or non-qualified deferred compensation
 plan.

	
 

	
 

	
 

	
            15.3-8
 The present value of the accrued benefits or the amount of the Account
 balances of any Employee participating in this Plan shall not include any
 rollover contributions or other transfers voluntarily initiated by the
 Employee except as described below. If this Plan transfers or rolls over
 funds to another Plan in a transaction voluntarily initiated by the Employee,
 then this Plan shall count the distribution for purposes of determining
 Account balances or the present value of accrued benefits. A transfer
 incident to a merger or consolidation of two or more Plans of the Employer
 (including Plans of related Employers treated as a single Employer under Code
 Section 414), or a transfer or rollover between Plans of the Employer, shall
 not be considered as voluntarily initiated by the Employee. 

          15.4     Minimum Contributions. For any
Top-Heavy Year, each Employer shall make a special contribution on behalf of
each Participant to the extent that the total allocations to his Account
pursuant to Section 4 is less than the lesser of:

-33-

	
 

	
 

	
 

	
            (i)           three
 percent of his 415 Compensation for that year, or

	
 

	
 

	
 

	
            (ii)          the
 highest ratio of such allocation to 415 Compensation received by any Key
 Employee for that year. For purposes of the special contribution of this
 Section 15.2, a Key Employee’s 415 Compensation shall include amounts the Key
 Employee elected to defer under a qualified 401(k) arrangement. Such a
 special contribution shall be made on behalf of each Participant who is
 employed by an Employer on the last day of the Plan Year, regardless of the
 number of his Hours of Service, and shall be allocated to his Account.

           If the Employer maintains a
qualified plan in addition to this Plan and more than one such plan is determined
to be Top-Heavy, a minimum contribution or a minimum benefit shall be provided
in one of such other plans, including a plan that consists solely of a cash or
deferred arrangement which meets the requirements of Section 401(k)(12) of the
Code and matching contributions with respect to which the requirements of
Section 401(m)(11) of the Code are met.

          15.5     Top-Heavy Provisions Control in Top-Heavy
Plan.
In the event this Plan becomes top-heavy and a conflict arises between the top-heavy
provisions herein set forth and the remaining provisions set forth in this
Plan, the top-heavy provisions shall control.

-34-

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