Document:

Exhibit 4.2

 

	
            ARCO 
 
 

______________________________________________

 

1985 EXECUTIVE LONG-TERM INCENTIVE PLAN

 

Effective June 4, 2001

 

As Amended Through

Amendment No. 16

 

WORKING COPY

 

 

 

 

                                          
                                          
  ARCO

	
             
 	
            1985 EXECUTIVE LONG-TERM INCENTIVE PLAN
 

 

	
             
 	
            TABLE OF CONTENTS
 

 

	
             
 	
            PAGE NO.  
 
	
             
 	
            ARTICLE I.  
 	
            GENERAL PROVISIONS
 	
             

	
             
 	
            Section  1
 	
            Purposes of the Plan
 	
            1
 	
             

	
             
 	
            Section  2
 	
            Definitions
 	
            1
 	
             

	
             
 	
            Section  3
 	
            Administration of the Plan
 	
            8
 	
             

									

 

	
             
 	
            ARTICLE II.  
 	
            STOCK OPTIONS
 	
             

	
             
 	
            Section  1
 	
            Grant of Stock Options
 	
            10
 
	
             
 	
            Section  2
 	
            Terms and Conditions of Stock Options
 	
            10
 
							

 

ARTICLE III.  RESTRICTED STOCK

	
             
 	
            Section  1
 	
            Grant of Contingent Restricted Stock
 	
            13
 
	
             
 	
            Section  2
 	
            Grant of Restricted Stock
 	
            13
 
	
             
 	
            Section  3
 	
            Grant of Performance-Based Restricted Stock
 	
            13
 
	
             
 	
            Section  4
 	
            Waiver of Restrictions
 	
            15
 
	
             
 	
            Section  5
 	
            Termination of Employment
 	
            15
 

 

ARTICLE IV.  PERFORMANCE-BASED DIVIDEND SHARE CREDITS

	
             
 	
            Section  1
 	
            Cancellation of Credits Upon Exercise, Expiration
 	
             

	
             
 	
            or Surrender of Stock Option
 	
            17
 	
             

	
             
 	
            Section  2
 	
            Performance-Based Criterion for Dividend
 	
             

	
             
 	
            Share Credits
 	
            17
 	
             

	
             
 	
            Section  3
 	
            Calculation For Payment
 	
            17
 
	
             
 	
            Section  4
 	
            Prospective Dividend Share Credits
 	
            18
 
									

 

	
             
 	
            ARTICLE V.  
 	
            MISCELLANEOUS PROVISIONS
 	
             

	
             
 	
            Section  1
 	
            Option and Restricted Stock Limits
 	
            19
 
	
             
 	
            Section  2
 	
            Adjustment in Terms of Award
 	
            19
 
	
             
 	
            Section  3
 	
            Governmental Regulations
 	
            20
 
	
             
 	
            Section  4
 	
            No Guaranty of Employment
 	
            20
 
	
             
 	
            Section  5
 	
            Relation to Benefit Plans
 	
            20
 
	
             
 	
            Section  6
 	
            Assignment or Transfer
 	
            20
 
	
             
 	
            Section  7
 	
            Rights as Shareholder
 	
            21
 
	
             
 	
            Section  8
 	
            Withholding Taxes
 	
            21
 
	
             
 	
            Section  9
 	
            Amendment and Discontinuance of the Plan
 	
            22
 
	
             
 	
            Section 10
 	
            Effective Date
 	
            22
 
	
             
 	
            Section 11
 	
            Term of Plan
 	
            23
 
							

 

	
             
 	
            ARTICLE VI.  
 	
            ARCO BPA MERGER
 	
             

	
             
 	
            Section  1
 	
            Purpose and Application of the Provisions of Article VI
 	
            24
 
	
             
 	
            Section  2
 	
            Performance Ranking Measurement
 	
            24
 
	
             
 	
            Section  3
 	
            Comparison Group – ARCO BPA Merger
 	
            26
 
	
             
 	
            Section  4
 	
            Grant of Performance-Based Restricted Stock –
 	
             

								

 

 

2

 

 

 

 

	
             
 	
            ARCO BPA Merger
 	
            26
 
	
             
 	
            Section  5
 	
            Exercise of Stock Options
 	
            27
 
					

 

 

	
            ARTICLE VII
 	
            CONSOLIDATION OF STOCK OPTIONS AND PERFORMANCE-BASED DIVIDEND SHARE CREDITS AND RE-PRICING OF STOCK OPTIONS
 

 

3

 

 

 

 

ARTICLE I

GENERAL PROVISIONS

 

	
            Section 1.
 	
            Purposes of the Plan
 

 

The purposes of the Plan are to provide a select group of management and other key employees with a specific incentive to work for the long-range growth and success of the Company and to enable the Company to attract, retain and motivate employees of superior capability.

 

	
            Section 2.
 	
            Definitions
 

 

	
             
 	
            As used herein, the following terms shall have the following meanings:
 

 

 (a)         “Base Salary” means the annualized regular biweekly wages of an Eligible Employee.

 

 (b)         “Change of Control” means:

 

 (i)          Consummation of a reorganization, merger or consolidation or sale of all or substantially all of the assets of ARCO (a “Business Combination”), unless, in each case, following such Business Combination:

 

 (1)        All or substantially all of the individuals and entities who were the beneficial owners, respectively, of the then outstanding shares of common stock (the “Outstanding Common Stock”) of ARCO and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors (the “Outstanding Voting Securities”) of ARCO immediately prior to such Business Combination beneficially own, directly or indirectly, more than 60 percent of, respectively, the then Outstanding Common Stock and the combined voting power of the then Outstanding Voting Securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which,
as a result of such transaction, owns ARCO or all or substantially all of ARCO’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the Outstanding Common Stock and Outstanding Voting Securities, as the case may be;

 

 (2)        No
Person (excluding any corporation resulting from such Business Combination or
any employee benefit plan (or related trust) of ARCO or such corporation
resulting from such Business Combination) beneficially owns, directly or
indirectly, 25 percent or more of, respectively, the then Outstanding Common
Stock of such corporation resulting from such Business Combination or

 

	
             
 	
            1
 

 

 

the combined voting power of the then Outstanding Voting Securities of such
corporation, except to the extent that such ownership existed immediately prior
to the Business Combination; and 

 

 (3)        At least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or

 

 (ii)         The acquisition by any Person of beneficial ownership (within the meaning of Rule 13d-3 or Rule 13d-5 promulgated under the Exchange Act) of 25 percent1 or more of either (A) the Outstanding Common Stock of ARCO or (B) the Outstanding Voting Securities of ARCO; provided, however, that for purposes of this Subsection (ii), the following shall not constitute a Change of Control:  (aa) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by ARCO or any corporation controlled by ARCO; (bb) any acquisition by ARCO or any increase in beneficial ownership resulting solely from an acquisition by ARCO; (cc) any acquisition by any corporation pursuant to a Business Combination which complies with clauses (1), (2) and (3) of Subsection (i); or (dd) any
acquisition directly from ARCO pursuant to a transaction (other than a Business Combination) approved by the Board after July 28, 1997; and provided, further, that in any event, without regard to the manner in which the level of ownership is attained, the ownership by any Person of 40 percent or more of the Outstanding Common Stock of ARCO or Outstanding Voting Securities of ARCO shall constitute a Change of Control; or

 

 (iii)        Individuals who, as of July 28, 1997, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to such date whose election, or nomination for election by ARCO’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, except that any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person shall not be considered an
Incumbent Director2; or

_________________________

1              This percentage shall be 40% in the case of the Vesting of Prospective Dividend Share Credits under Article IV, Section 4 of the Plan and the Pro Rata Payment of Contingent Restricted Stock under Article III, Section 3(b)(v) of the Plan.

2              This provision shall not apply in the case of the Vesting of Prospective Dividend Share Credits under Article IV, Section 4 of the Plan and the Pro Rata Payment of Contingent Restricted Stock under Article III, Section 3(b)(v) of the Plan.            

 

 

	
             
 	
            2
 

 

 

 

 (iv)        Approval by the stockholders of ARCO of a complete liquidation or dissolution of ARCO.

 

 (c)         “Committee” means the Organization and Compensation Committee of the Board.

 

 (d)         “Common Stock” means the common stock of ARCO having a par value of $2.50 per share.

 

	
             
 	
              (e)
 	
            “Company” means ARCO and its Subsidiaries.
 

 

	
             
 	
              (f)
 	
            “Comparison Group” means:
 

 

 (i)          Chevron Corporation, Conoco Inc., Exxon Mobil Corporation, Occidental Petroleum Corporation, Phillips Petroleum Company, Texaco Inc. and Unocal Corporation; provided, however, that if any member of the Comparison Group ceases to exist during a Performance Period (“Terminated Member”) the Organization and Compensation Committee of the Board of Directors (the “Committee”) shall designate another entity as a member of the Comparison Group (“New Member”), which entity shall have characteristics as common as possible with the existing members of the Comparison Group, as determined in the sole discretion of the Committee; provided, further that the performance of the Terminated Member shall be used to calculate the Company Performance Ranking through the date it
ceased to exist and the performance of the New Member shall be used to calculate the Company Performance Ranking for the remainder of the Performance Period.

 

 (ii)       For the 1997–1999 Performance Period, a new company will not be selected to replace Mobil Corporation. Instead, the actual TSR performance of Mobil Corporation will be used through the day the Common Stock of Mobil Corporation ceases trading on the NYSE. In addition, for the time period commencing on the date when the Common Stock of Mobil Corporation ceases trading on the NYSE and ending on the close of an applicable Performance Period, as defined in Article I, Section 2(n) of the Plan, the TSR of Mobil Corporation will be measured by multiplying the price of a share of Common Stock of Exxon Mobil Corporation by 1.32015.

 

 (g)         “Compensation Subcommittee” or “Subcommittee” means the members of the Committee who qualify as outside directors under Section 162(m) of the Internal Revenue Code of 1986, and as “Non-Employee Directors” within the meaning of Section 16 of the 1934 Exchange Act, as amended, and are empowered to establish, and certify to the attainment of, performance criteria prescribed under the Plan.

 

 (h)         “Contingent Restricted Stock” means a contingent grant of shares of Performance-Based Restricted Stock under the terms and conditions set 

 

	
             
 	
            3
 

 

 

forth in Article III, Section 1, that has no indicia of ownership of Common Stock, that is granted at the commencement of a Performance Period and will be converted to an actual award of Performance-Based Restricted Stock, if any, pursuant to the Performance-Based Restricted Stock Payment Schedule.

 

 (i)          “Dividend Rights” means, as of any date, (i) the total number of shares of Common Stock subject to all outstanding and unexercised Stock Options held by an optionee pursuant to the Plan, and (ii) the total number of Dividend Share Credits credited to an optionee on such date.

 

 (j)          “Dividend Share Credits” means, with respect to a Stock Option granted prior to February 24, 1997, the total number of credits allocated to an optionee on any date. The number of Dividend Share Credits credited as of any record date for cash dividends declared on Common Stock shall be the aggregate number derived by (i) multiplying the dividend rate declared per share of Common Stock by the number of Dividend Rights held by an optionee as of the dividend record date, and then (ii) dividing the resulting figure by the Fair Market Value of a share of Common Stock on such record date. Dividend Share Credits attributable to exercised, expired or surrendered Stock Options shall be canceled upon such exercise, expiration or surrender and their treatment
shall be as provided in Article IV of the Plan.

 

 (k)         “Eligible Employee” means a member of a select group of management or other key employee of the Company who, in the opinion of the Committee, is in a position to contribute significantly to long-term profit and growth objectives; provided, however, that no member of the Committee nor any person owning stock possessing more than ten percent of the total combined voting power of all classes of stock of ARCO shall be an Eligible Employee.

 

 (l)          “Employment” means continuous employment with the Company.

 

 (m)       “Fair Market Value” of a share of Common Stock means the mean between the highest and lowest sales prices, or the closing sales price of a share of Common Stock, whichever is higher, on the date in question as reported on the composite tape for issues listed on the New York Stock Exchange. If no transaction was reported on the composite tape in the Common Stock on such date, the prices used shall be the prices reported on the nearest day preceding the date in question. If the Common Stock should not then be listed or admitted to trading on such Exchange, Fair Market Value shall be the mean between the closing bid and asked prices on the date in question as furnished by any member firm of the New York Stock Exchange selected from time to time by the Committee for that purpose.

 

 (n)         “Performance Period” means the period of time established by the Subcommittee at the time of a grant of Contingent Restricted Stock over which the Company’s Performance Ranking will be determined.

 

 

	
             
 	
            4
 

 

 

 

 (o)         “Performance Ranking” means the ranking of the Company in Total Shareholder Return as measured against the Comparison Group over the applicable Performance Period.

 

 (p)         “Performance-Based Restricted Stock” means restricted Common Stock which is granted by the Compensation Subcommittee following its determination of the Company’s Performance Ranking in relation to a grant of Contingent Restricted Stock and calculation of the payment pursuant to the Performance-Based Restricted Stock Payment Schedule. Such Performance-Based Restricted Stock shall be non-transferable and non-assignable during the applicable Restriction Period and may be forfeited if there is a termination of Employment during the Restriction Period for reasons specified in the Plan.

 

 (q)         “Performance-Based Restricted Stock Payment Schedule” means the schedule which is used to calculate the amount of Performance-Based Restricted Stock available to pay Eligible Employees as determined by multiplication of the amount of a grant of Contingent Restricted Stock by the Award Multiple relating to the Company’s Performance Ranking as follows:

 

	
             
 	
            (i)
 	
            General Calculation:
 

 

	
            Company Performance Ranking
 	
            Award

Multiple 
 
	
            

 	
            

 
	
            1
 	
            3.0
 
	
            2
 	
            2.5
 
	
            3
 	
            2.0
 
	
            4
 	
            1.5
 
	
            5
 	
            1.0
 
	
            6
 	
            0.5
 
	
            7
 	
            0
 
	
            8
 	
            0
 
	
            9
 	
            0
 
	
            

 	
            

 

 

	
             
 	
            (ii)
 	
            Special Adjustments:
 

 

 (1)        If one or more companies in the Comparison Group is within one percentage point of the Company’s TSR, the Company’s TSR rank Award Multiple shall be the average of the Company’s Award Multiple and the Award Multiple that would be applicable to such other companies.

 

 (2)        If the Company’s TSR is within one percentage point of the average of the Comparison Group, weighted for market capitalization, the Award Multiple shall be the greater of the Company’s TSR rank Award Multiple or 1.0. The Subcommittee retains discretion to lower the Award Multiple.

 

 

	
             
 	
            5
 

 

 

 

 (r)          “Plan” means this 1985 Executive Long-Term Incentive Plan, including any amendments hereof and rules and regulations hereunder.

 

 (s)         “Restriction Period” means the period specified by the Subcommittee at the time of grant of Restricted Stock during which the restriction and forfeitability conditions described under Section 2 of Article III apply.

 

 (t)          “Restricted Stock” means Common Stock awarded under the Plan which is subject to certain forfeiture and transferability restrictions as provided in the Plan, in regulations of the Committee promulgated thereunder, and in the agreement evidencing the grant of such Restricted Stock.

 

 (u)         “Salary Grade Level” means the classification assigned to an Eligible Employee, based on salary and grade ranking, by ARCO.

 

 (v)         “Stock Options” means options to purchase Common Stock under the terms and conditions set forth in Article II of the Plan. Such options shall not be “Incentive Stock Options” as defined in Section 422(b) of the Internal Revenue Code of 1986, as amended.

 

 (w)        “Subsidiary” means any corporation, the majority of the voting stock of which, or any partnership or joint venture, the majority of the profits interest or capital interest of which, is owned directly or indirectly by ARCO or a member of the Comparison Group, as applicable.

 

 (x)         “Target Investment Value” means one-half of the Total Investment Value.

 

 (y)         “Total Investment Value” means, with respect to each Salary Grade Level, that value which represents the 50th percentile of long-term compensation payable by the Comparison Group, determined annually based on an analysis of market data.

 

 (z)         “Total Shareholder Return” or “TSR” means the sum of the dividends and appreciation or depreciation of the price of a share of Common Stock over the established measurement period. The beginning and ending stock price, as applicable, used to calculate the Total Shareholder Return shall be the average of the closing price on the ten trading days prior to the last trading day of the calendar year, on the last trading day of the calendar year, and on the ten trading days following the last trading day of the calendar year.

 

 (aa)      “Anticipatory Change of Control” means (i) the execution of an agreement or a written document which, if the subject thereof were consummated, would result in a Change of Control; (ii) a public announcement by any Person, including ARCO, of an intent to take an action(s) which, if consummated, would result in a Change of Control; or (iii) the delivery of a signed, written statement to the Trustee of the Change of Control Trust and ARCO’s Independent Auditor by the 

 

	
             
 	
            6
 

 

 

Chief Financial Officer of ARCO and General Counsel of ARCO that an Anticipatory Change of Control is in effect, provided that, with respect to any of the above three circumstances, the Anticipatory Change of Control shall commence only upon approval either by the Board or the Executive Committee of the Board.

 

 (bb)      “ARCO” means Atlantic Richfield Company, its successors and assigns.

 

 (cc)       “Change of Control Trust” means the trust established by ARCO to provide for the payment of any benefits, in whatever form is required, under this Plan on and after a Change of Control.

 

 (dd)      “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

 (ee)      “Person” means any individual, corporation, firm, partnership, governmental body, entity or group and shall include any person within the meaning of §13(d)(3) or §14(d)(2) of the Exchange Act.

 

 (ff)         “Prospective Dividend Share Credits” means the amount of Dividend Share Credits which would be earned with respect to a Stock Option during the period commencing on the date of a Change of Control and concluding on the expiration date of the term of the Stock Option, assuming (i) no exercise of the Option; (ii) a fixed Fair Market Value of a share of Common Stock, and (iii) a fixed dividend, on such Common Stock. Both Fair Market Value and the dividend rate shall be determined as of the record date of the quarterly dividend on such Common Stock immediately preceding the Change of Control.

 

 (gg)      “Special Plan Administrator” means the entity designated in the Change of Control Trust as having full Administrative powers under Article I, Section 3 of this Plan on and after a Change of Control, including, but not limited to, all interpretive and decision powers reserved to the Committee or the Subcommittee prior to a Change of Control.

 

 (hh)      “Board” means the Board of Directors of ARCO established by the Articles of Incorporation of ARCO.

 

 (ii)         “Executive Committee” means the Executive Committee of the Board as established by the Board of Directors of ARCO.

 

	
            Section 3.
 	
            Administration of the Plan
 

 

 (a)        Prior to a Change of Control, the Plan shall be administered by the Committee or, where specified herein, by the Subcommittee. The Committee or Subcommittee, as applicable, is authorized to interpret the Plan, to adopt such rules and regulations as may from time to time be deemed necessary 

 

	
             
 	
            7
 

 

 

for the effective operation of the Plan, and to act upon all matters relating to the granting of awards under the Plan. Any determination, interpretation, construction or other action made or taken pursuant to the provisions of the Plan by or on behalf of the Committee or Subcommittee, as applicable, shall be final, binding and conclusive for all purposes and upon all persons including, without limitation, the Company, the Company’s shareholders and Eligible Employees and their respective successors in interest.

 

 (b)        On and after a Change of Control the Plan shall be administered by the Special Plan Administrator which shall have all powers of the Committee and Subcommittee described under Subsection 3(a) of this Article.

 

 (c)        No member of the Committee or Subcommittee, as applicable, shall be personally liable by reason of any contract or other instrument executed by such member, or on such member’s behalf, in such member’s capacity as a member of the Committee or Subcommittee nor for any mistake of judgment made in good faith, and the Company shall indemnify and hold harmless each member of the Committee or Subcommittee, as applicable, and each other officer, employee or director of the Company to whom any duty or power relating to the administration or interpretation of the Plan has been delegated, against any cost or expense (including counsel fees) or liability (including any sum paid in settlement of a claim with the approval of the Committee or Subcommittee) arising out of any act or omission in
connection with the Plan unless arising out of such person’s own fraud or bad faith.

 

 (d)        Subject to the terms and limitations of Subsection 1(a) of Article II and Section 1 of Article III of the Plan, the Committee or Subcommittee, as applicable, may at the time of the annual grants, make adjustments within the Total Investment Value applicable to all Eligible Employees provided that any reallocation resulting from changes in individual grants may be made only to Eligible Employees in the same Salary Grade Level as the affected individuals, so that the Total Investment Value by Salary Grade Level may not be exceeded.

 

 

	
             
 	
            8
 

 

 

 

ARTICLE II

 

STOCK OPTIONS

 

	
            Section 1.
 	
            Grant of Stock Options
 

 

 (a)         Regular Grants. The Committee may make an annual grant of Stock Options to Eligible Employees in an aggregate amount equal to the Target Investment Value (i.e., one-half of the Total Investment Value), subject to the terms and conditions set forth in the Plan and on such other terms and conditions as are not inconsistent with the purposes and provisions of the Plan, provided, that, the Committee, in its sole discretion, may, at the time of the annual grant, adjust such aggregate amount from zero to three times the Target Investment Value.

 

 (b)         Special Grants. The Committee, in its sole discretion, may make grants of Stock Options in amounts determined to be appropriate by the Committee to:

 

 (i)          Employees of the Company who are not regular Eligible Employees, either at the same time as the regular, annual grant of Stock Options or at other times, and

 

 (ii)         Eligible Employees at times other than the time of the regular, annual grant of Stock Options due to special circumstances, such as commencement of Employment or special achievement.

 

The Committee may, by resolution, delegate to the Chairman of the Board the power to make special grants of Stock Options at times other than the regular, annual grants. Any such grants of Stock Options by the Chairman of the Board will be based upon the recommendations of the Senior Vice President, Human Resources and shall be reported to (or, if necessary, ratified by) the Subcommittee at its next meeting.

 

	
            Section 2.
 	
            Terms and Conditions of Stock Options
 

 

All Stock Options granted under the Plan shall be subject to the following terms and conditions:

 

 (a)         Option Price. The option price per share with respect to each Stock Option shall be fixed by the Committee, but shall not be less than the Fair Market Value of the Common Stock on the date the Stock Option is granted.

 

 (b)         Period of Option. A Stock Option shall expire and all rights thereunder shall end at the expiration of such period (not exceeding ten years) after 

 

	
             
 	
            9
 

 

 

the date the Stock Option is granted as shall be fixed by the Committee at the time it grants the Stock Option.

 

 (c)         Exercise of Option. Stock Options may be exercised during the remaining term of the options in accordance with the following schedule, subject to the provisions of Subsection 2(d) of this Article II:

 

	
      Continuous
        Employment Following 

        Grant
	
      Portion
        Of 

      Grant

      Exercisable

	 
      

 	 
      

 
	  

      1
        year 
	  

      33-1/3%

	 2
        years
	 66-2/3%

	 3
        years
	 100%
        

	 
      

 	 
      

 

 

	
             
 	
            (d)
 	
            Termination of Employment.
 

 

 (i)          If an optionee’s Employment is terminated prior to entitlement to exercise all or a portion of a grant of Stock Options, the optionee will be entitled to exercise all of his or her outstanding Stock Options during the remainder of the term of the Stock Options, if the optionee’s termination is due to (1) total and permanent disability, (2) termination, other than for cause, with a right to an immediate allowance under a retirement plan of the Company, or (3) involuntary termination, other than for cause.

 

 (ii)         If an optionee’s Employment is terminated for cause, regardless of retirement eligibility, or the optionee voluntarily terminates Employment without a right to an immediate retirement allowance under a retirement plan of the Company, any outstanding Stock Options which the optionee is not entitled to exercise shall be canceled and, except as may be provided under Subsection 2(d)(iii) of this Article II, the optionee will be permitted to exercise any Stock Options which the optionee is entitled to exercise immediately prior to his or her date of termination of Employment only during the 60 calendar days following such Employment termination date. 

 

 (iii)        The Committee, in its sole discretion, may increase the portion of a grant of Stock Options which an optionee who terminates Employment under Subsection 2(d)(ii) of this Article II is entitled to exercise and/or the post-termination of Employment period during which some or all of his or her Stock Options may be exercised, provided that in no event may the amount of exercisable Stock Options exceed the amount of the original grant nor may the post-termination of Employment exercise period of such an optionee be longer than 24 months following termination of Employment. The Committee may, by resolution, delegate this power to the Chairman of the Board of the Company, whose decisions shall be based upon the recommendations of the Senior Vice President, Human Resources and shall be reported to the
Committee at its next meeting.

 

 

	
             
 	
            10
 

 

 

 

 (e)         Death. If an optionee dies prior to entitlement to exercise all or a portion of a grant of Stock Options, the designated beneficiary of the optionee or, absent a beneficiary designation, the executor or administrator of his or her estate, will be entitled, commencing on the optionee’s date of death, to exercise all of the optionee’s outstanding Stock Options during the remainder of the period applicable to such Stock Options under Subsection 2(b) of this Article II.

 

 (f)          Change of Control. Except as to any grant of Stock Options after the commencement of an Anticipatory Change of Control related to a merger between Atlantic Richfield Company and BP Amoco, upon the occurrence of a Change of Control, a participant shall be entitled to exercise any outstanding Stock Options which are not otherwise exercisable immediately preceding such a Change of Control.

 

 (g)         Payment for Shares. Every share purchased through the exercise of a Stock Option shall be paid for in full, in cash, within ten business days following the time of exercise or, unless the Stock Option expressly provides otherwise, at the time of exercise in shares of Common Stock valued at their Fair Market Value on the date on which such Stock Option is exercised, or in a combination of cash and such shares.

 

 

	
             
 	
            11
 

 

 

 

ARTICLE III

RESTRICTED STOCK

 

	
            Section 1.
 	
            Grant of Contingent Restricted Stock
 

 

The Subcommittee may make an annual grant of Contingent Restricted Stock to Eligible Employees in an amount of contingent shares equal to the quotient of the Target Investment Value divided by the Fair Market Value of a share of Common Stock on the date of grant. 

 

	
            Section 2.
 	
            Grant of Restricted Stock
 

The Subcommittee may grant Restricted Stock under the Plan to Eligible Employees, and shall, in each case, determine the number of shares of Restricted Stock to be granted and the terms or duration of the restrictions to be imposed upon those shares.

 

	
            Section 3.
 	
            Grant of Performance-Based Restricted Stock
 

 

 (a)         The Subcommittee may grant Performance-Based Restricted Stock under the Plan to Eligible Employees who have been granted Contingent Restricted Stock and the Subcommittee shall in each case determine the number of shares to be granted in accordance with the Performance-Based Restricted Stock Payment Schedule.

 

	
             
 	
            (b)
 	
            Restrictions Applicable to Performance-Based Restricted Stock.
 

 

 (i)          Subject to the provisions of Subsections 3(b)(iii) and (iv) of this Article III, shares of Performance-Based Restricted Stock shall become vested 24 months following the date of grant, if the participant remains in Employment during this period.

 

 (ii)         During the period in which Performance-Based Restricted Stock is not vested, such stock shall be nontransferable and may not be pledged or otherwise encumbered.

 

 (iii)       If a grantee’s Employment is terminated within 24 months following the grant of Performance-Based Restricted Stock due to (1) total and permanent disability; (2) involuntary termination, other than for cause; (3) termination, other than for cause, with a right to an immediate retirement allowance under a retirement plan of the Company; or (4) death, such stock shall be deemed vested on the day the grantee’s employment is terminated.

 

 (iv)       If a grantee terminates Employment within 24 months following the grant of Performance-Based Restricted Stock due to a reason other 

 

	
             
 	
            12
 

 

 

than described under Subsection 3(b)(iii) of this Article III, all stock pursuant to such grant will be forfeited unless the Subcommittee accelerates the vesting of all or a portion of such stock upon its determination that such vesting is in the best interest of the Company. The Subcommittee may, by resolution, delegate this power to the Chairman of the Board, whose decisions will be based upon the recommendations of the Senior Vice President, Human Resources and shall be reported to the Subcommittee at its next meeting.

 

 (v)        (1)        If a Change of Control occurs following any grant of Contingent Restricted Stock, any actual award of Performance-Based Restricted Stock to which the grantee would otherwise be entitled in respect of such Contingent Restricted Stock, based on the Company’s Performance Ranking for the year of the Performance Period on the date of the Change of Control under the applicable Restricted Stock Payment Schedule, shall be satisfied by the grant of shares of Common Stock. The number of shares shall be determined by multiplying the Contingent Restricted Stock by a fraction, the numerator of which is the number of completed months (or fraction thereof) in the Performance Period as of the date of the Change of
Control and the denominator of which is the number of months in such Performance Period. However, if such Contingent Restricted Stock is granted after the commencement of an Anticipatory Change of Control related to a merger of a subsidiary of BP Amoco p.l.c. with and into Atlantic Richfield Company, such grant shall be satisfied by the grant of Performance-Based Restricted Stock subject to normal employment circumstances.

 

 (2)        If a Change of Control under Article I, Section 2(b)(ii), other than by reason of the application of Footnote 1, occurs, and a grantee of Contingent Restricted Stock is terminated by the Company after a Person attains an ownership level of 25 percent but before a Change of Control occurs for any other reason or any Person attains an ownership level of 40 percent or more of the outstanding shares of stock of the Company or the corporation resulting from a Business Combination, as defined in Article I, Section 2(b)(i), any actual award of Performance-Based Restricted Stock to which the grantee would otherwise be entitled, based on the Company’s performance ranking as of the earlier of (A) the end of the Performance Period, or (B) the occurrence of a Change of Control by reason of the application
of Footnote 1 to Article I, Section 2(b)(ii), shall be multiplied by a fraction, the numerator of which is the number of completed months (or fraction thereof) of the Performance Period as of the grantee’s date of termination and the denominator of which is the number of months in such Performance Period, with payment to be made in shares of Common Stock.

 

 (c)         No grant of Performance-Based Restricted Stock may be made to a
“Covered Employee”, as defined in proposed Treasury Regulations
Section 1.162.27, unless the Subcommittee has certified in writing that the
performance 

 

 

	
             
 	
            13
 

 

 

criteria set forth in the Performance-Based Restricted Stock Payment
Schedule have been attained.

 

	
            Section 4.
 	
            Waiver of Restrictions
 

 

 (a)         Restrictions upon vesting and transferability of Restricted Stock may be permitted to lapse as originally provided by the Subcommittee at the time of grant, as provided in the Plan or otherwise as the Subcommittee may determine in its sole discretion.

 

 (b)         Restrictions upon vesting and transferability of Performance-Based Restricted Stock shall lapse as provided in Section 3 of this Article III.

 

 (c)         Except as to any grant of Restricted Stock or Performance-Based Restricted Stock after the commencement of an Anticipatory Change of Control related to a merger between Atlantic Richfield Company and BP Amoco, all shares of Restricted Stock and Performance-Based Restricted Stock shall be deemed vested upon the occurrence of a Change of Control.

 

	
            Section 5.
 	
            Termination of Employment
 

 

 (a)         If a grantee of Contingent Restricted Stock commences Employment following the beginning of a Performance Period, or terminates Employment prior to the end of a Performance Period, as the case may be, except as provided below, any actual award of Performance-Based Restricted Stock to which the grantee would otherwise be entitled under the applicable Restricted Stock Payment Schedule, shall be multiplied by a fraction, the numerator of which is the number of months employed during the Performance Period and the denominator of which is the number of months in such Performance Period, provided that in no event may an award of Performance-Based Restricted Stock be made unless the grantee has been in Employment for at least six months during the Performance Period.

 

 (b)         If, prior to the end of a Performance Period, a grantee of Contingent Restricted Stock terminates Employment due to (i) total and permanent disability; (ii) involuntary termination, other than for cause; or (iii) termination, other than for cause, with a right to an immediate retirement allowance under a retirement plan of the Company, the grantee shall be paid the value determined under Subsection 5(a) of this Article III as of the date of the grantee’s termination, with payment to be made in shares of Common Stock at the end of the Performance Period.

 

 (c)
         If,
prior to the end of a Performance Period, a grantee of Contingent Restricted
Stock terminates Employment due to death, the designated beneficiary of the
grantee or, absent a beneficiary designation, his or her estate, shall be paid
the value determined under Subsection 5(a) of this Article III based on the
Company’s Performance Ranking for the year of the Performance Period which

 

 

	
             
 	
            14
 

 

 

ends closest to the grantee’s death, with payment to be made in shares of
Common Stock as soon as practicable following the end of such year of the
Performance Period.

 

 (d)         If, prior to the end of a Performance Period, a grantee of Contingent Restricted Stock terminates Employment for cause, regardless of retirement eligibility, or voluntarily terminates Employment, other than with a right to an immediate retirement allowance under a retirement plan of the Company, all such Contingent Restricted Stock held by the grantee shall be canceled.

 

 

	
             
 	
            15
 

 

 

ARTICLE IV

PERFORMANCE-BASED DIVIDEND SHARE CREDITS

 

	
            Section 1.
 	
            Cancellation of Credits Upon Exercise, Expiration or Surrender of
 
	
             
 	
            Stock Option
 	
             

 

Dividend Share Credits shall be credited as provided in Article 1, Subsection 2(j) of the Plan. Upon exercise of any Stock Option, in whole or in part, the credited Dividend Share Credits attributable to the exercised Stock Options shall be canceled. Upon expiration of any Stock Option at the end of its original maximum term, the credited Dividend Share Credits attributable to the expired Stock Options shall be canceled. An optionee may elect to surrender for cancellation exercisable Stock Options in whole or in part. Upon surrender and cancellation of any such Stock Options, the Dividend Share Credits attributable to the surrendered Stock Options shall also be canceled. 

 

The shares of Common Stock underlying Stock Options exercised, surrendered or expired pursuant to this Section shall be referred to as the “affected shares” for purposes of the application of the performance criterion set forth in Section 2 of this Article IV. For purposes of the application of such criterion, the date of exercise, surrender or expiration shall be referred to as the “determination date.” 

 

	
            Section 2.
 	
            Performance-Based Criterion For Dividend Share Credits
 

 

Upon the exercise, expiration or surrender of any Stock Option, the Committee shall apply the following performance-based criterion to the Dividend Share Credits allocable to the affected shares: 

 

In order for the performance criterion to be attained, the aggregate Fair Market Value of the canceled Dividend Share Credits must exceed the aggregate option price of the affected shares less their aggregate Fair Market Value on the determination date.

 

The criterion shall be applied independently to each grant in the event of the exercise, cancellation or surrender of Stock Options attributable to multiple grants on the same date.

 

	
            Section 3.
 	
            Calculation For Payment
 

 

If the performance criterion set forth in Section 2 of this Article IV is
attained, a payment in shares of Common Stock shall be made to the optionee,
which shall have a value equal to the Fair Market Value of a share of Common

 

	
             
 	
            16
 

 

 

Stock multiplied by the total number of any canceled Dividend Share Credits,
less the amount by which the aggregate option price of the affected shares
exceeds the aggregate Fair Market Value of underlying shares related to such
Stock Options on the determination date. The optionee may elect to receive a
cash payment in respect of such shares, in which case the shares of Common Stock
otherwise payable to the optionee shall be sold by the Company, at no cost to
the optionee, and the equivalent cash payment shall be made to the
optionee.

 

No payment may be made to a “Covered Employee”, as defined in proposed Treasury Regulations Section 1.162.27, unless the Subcommittee has certified in writing that the performance criterion set forth in Section 2 of this Article IV has been attained.

 

	
            Section 4.
 	
            Prospective Dividend Share Credits
 

 

 (a)         
Upon the occurrence of a Change of Control, the Prospective Dividend Share Credits allocable to an optionee, as of the date of the Change of Control,  shall be credited to the account of the optionee, as described in Subsection (b), and no further Dividend Share Credits shall accrue with respect to such optionee.

 

 (b)         As of the date of a Change of Control, the Dividend Share Credits that would be earned under each outstanding Stock Option for the remaining term of the Stock Option shall be calculated, assuming no further exercises of the Stock Option and using the dividend rate and the Fair Market Value of a share of Common Stock as of the most recent dividend record date relating to Common Stock. The resulting number of Dividend Share Credits shall be added to the Dividend Share Credits held in the participant’s account as of the date of the Change of Control and all such Dividend Share Credits shall be treated as credited under Article I, Subsection 2(j) of the Plan, and the participant shall be entitled to payment in shares of Common Stock of the number of Dividend Share Credits relating to an exercise of Stock Options i

n
 accordance with
Article IV of the Plan.

 

 

	
             
 	
            17
 

 

 

 

ARTICLE V

MISCELLANEOUS PROVISIONS

 

	
            Section 1.
 	
            Option and Restricted Stock Limits
 

 

 (a)          The number of shares of Common Stock upon which Stock Options may be granted or which may be the subject of a grant of Restricted Stock or Performance-Based Restricted Stock during a calendar year shall be eight-tenths of one percent (0.8%) of the total issued and outstanding shares of Common Stock as of December 31 of the immediately preceding calendar year. Any shares of Common Stock available for grant that are not made the subject of a grant during a calendar year, or portion thereof, will be available for grant in any subsequent year, or portion thereof, until the end of the term of the Plan. The number of available shares described in the preceding sentences is subject to adjustment as provided in Section 2 of this Article V. The shares shall be made available from authorized Common Stock, issued or unissued

,
 or from Common Stock
issued and held in the treasury of the Company as shall be determined by the Committee. Shares of Common Stock subject to Stock Options, shares of Restricted Stock and shares of Performance-Based Restricted Stock that are canceled pursuant to Subsection 2(d) of Article II, Section 2 of Article III or Section 3 of Article III of the Plan may be reallocated under the Plan.

 

 (b)         No individual may be granted more than 500,000 shares of Restricted Stock, Performance-Based Restricted Stock and/or Stock Options, regardless of the combination, in any calendar year.

 

	
            Section 2.
 	
            Adjustment in Terms of Award
 

 

In the event of a reorganization, recapitalization, stock split, stock dividend, distribution of assets other than pursuant to a normal cash dividend, combination of shares, merger, consolidation, rights offering, split-up, split-off, spin-off or any other change in the corporate structure or shares of the Company (other than a Change of Control), the Committee may, in its discretion, after consultation with the Chairman of the Board and the President of ARCO, make appropriate adjustments to reflect such event in respect of (a) the limitation in Section 1 of this Article V on the maximum number of shares of Common Stock upon which Stock Options may be granted or which may be the subject of a grant of Restricted Stock or Performance-Based Restricted Stock, (b) the number of shares of Common Stock covered by, and the exercise price per share applicable to, outstanding Stock Options, (c) the
number of shares of Common Stock covered by outstanding awards of Restricted
Stock or Performance-Based Restricted Stock, and (d) the number of outstanding
Dividend Share Credits allocated to optionees’ accounts. In the event that
the Committee, after consultation with the Chairman of the Board and the
President of ARCO, determines that, because of a change (other than a Change of
 

 

	
             
 	
            18
 

 

 

Control) in the Company’s business, operations, corporate structure,
capital structure, assets or manner in which it conducts business, which it
deems to be extraordinary and material, the terms of awards theretofore made are
no longer suitable to the objectives which the Committee sought to achieve when
it made such awards, it may modify the terms of any or all of such awards in
such manner as it may decide is advisable; provided, however, that no award may
be modified in a manner which would be inconsistent with the intent of
Subsection 1(b) or Section 9 of this Article V, or which would result in an
increase in the shares of Performance-Based Restricted Stock.

 

	
            Section 3.
 	
            Governmental Regulations
 

 

The Plan and the grant and exercise of Stock Options, the crediting and payment of Dividend Share Credits and the award of Contingent Restricted Stock, Restricted Stock and Performance-Based Restricted Stock hereunder, shall be subject to all applicable rules and regulations of governmental or other authorities.

 

	
            Section 4.
 	
            No Guaranty of Employment
 

 

The grant of a Stock Option, credit of a Dividend Share Credit, or award of Contingent Restricted Stock, Restricted Stock or Performance-Based Restricted Stock under the Plan shall not confer upon a recipient any right to continue in the employ of the Company nor shall it interfere with or restrict in any way the right of the Company to discharge an Eligible Employee at any time for any reason, with or without good cause.

 

	
            Section 5.
 	
            Relation to Benefit Plans
 

 

Stock Options, Dividend Share Credits, Contingent Restricted Stock, Restricted Stock and Performance-Based Restricted Stock will not be considered as compensation for the purpose of any other benefit plans maintained by the Company.

 

	
            Section 6.
 	
            Assignment or Transfer
 

 

No Stock Option, Dividend Share Credit or share of Contingent Restricted Stock, Restricted Stock or Performance-Based Restricted Stock shall be assignable or transferable by an Eligible Employee otherwise than by will or the laws of descent and distribution.

 

 

	
            Section 7.
 	
            Rights as Shareholder
 

 

 

	
             
 	
            19
 

 

 

 (a)         An Eligible Employee under the Plan shall have no rights of a holder of
Common Stock by virtue of an award of Stock Option or Contingent Restricted
Stock hereunder, unless and until certificates for shares of Common
Stock, Restricted Stock or Performance-Based Restricted Stock are issued to him or her pursuant to the Plan.

 

 (b)         Dividend Share Credits shall not be considered as dividends on Common Stock for any purpose.

 

 (c)         An Eligible Employee who has received an award of Restricted Stock or Performance-Based Restricted Stock shall have the right to vote such stock.  All dividends paid with respect to Restricted Stock or Performance-Based Restricted Stock shall be reinvested in additional shares of Restricted Stock, subject to the same restrictions, including the date on which such restrictions lapse, as the shares of Restricted Stock or Performance-Based Restricted Stock with respect to which the dividends are paid. Stock received with respect to an award of Restricted Stock or Performance-Based Restricted Stock pursuant to a stock split, stock dividend or other change in the capitalization of the Company will be held subject to the same restrictions on transferability that are applicable to such shares of Restricted Stock or
 Performance-Based Restricted Stock.

 

	
            Section 8.
 	
            Withholding Taxes
 

 

 (a)         The Company shall have the right to withhold from salary or otherwise or to cause the employee (or the executor or administrator of his or her estate or his or her distributee) to make payment of any federal, state, local or foreign taxes required to be withheld with respect to any exercise of a Stock Option, stock or cash settlement of a Dividend Share Credit, or award or vesting or deemed vesting of Restricted Stock or Performance-Based Restricted Stock.

 

 (b)         In the case of an exercise of Stock Options, the payment in respect of Dividend Share Credits allocable to the affected shares, or the vesting or deemed vesting of Restricted Stock or Performance-Based Restricted Stock, an Eligible Employee may elect to have the withholding obligation satisfied by having the Company withhold shares of Common Stock received upon an exercise of Stock Options, the payment in respect of Dividend Share Credits allocable to the affected shares or the vesting or deemed vesting of Restricted Stock or Performance-Based Restricted Stock, as the case may be.

 

 

 

	
            Section 9.
 	
            Amendment and Discontinuance of the Plan
 

 

The Board may amend or discontinue the Plan as it shall from time to time consider desirable, provided that:

 

	
             
 	
            20
 

 

 

(a)         Except as provided under Subsection (c) hereof, no amendment shall,
without further approval by the holders of a majority of the shares which are
represented in person or by proxy and entitled to vote on the subject at a
meeting of shareholders of ARCO, change the terms of the Plan so as to increase
the maximum number of shares upon which Stock Options may be granted or which
may be issued upon a grant of Restricted Stock or Performance-Based Restricted
Stock or the payment of Dividend Share Credits from the amounts described in
Subsections 1(a) and (b) of this Article V, reduce the minimum Stock Option
price, or extend the maximum Stock Option period.

 

 (b)         Except as provided under Subsection (c) hereof, no amendment, discontinuance or termination shall deprive persons who hold shares of Contingent Restricted Stock, Restricted Stock or Performance-Based Restricted Stock, or who are entitled to exercise Stock Options, or to receive a settlement of Dividend Share Credits pursuant to the terms and provisions of the Plan, of their rights with respect thereto.

 

 (c)         No amendment may be made during the period of an Anticipatory Change of Control, except that the Board may amend the Plan during such a period as it may deem necessary, upon advice of counsel, to further the interest of the Company, its shareholders and the Plan participants regarding any legal requirements that may be applicable to a Change of Control, including, without limitation, satisfaction of any requirements relating to accomplishing “Pooling” treatment under applicable accounting rules, and any Securities Exchange Act rules or tax rules.

 

 (d)         The Plan may not be amended or terminated on or after a Change of Control until all outstanding Stock Options have been exercised or expired and all payments of Contingent Restricted Stock under the Plan have been made, except as deemed necessary by BP Amoco to make administrative modifications provided that any such modification does not adversely affect the rights or benefits of any Participant, other than a modification which has a de minimis effect on a Participant’s rights, benefits or obligations.

 

	
            Section 10.
 	
            Effective Date
 

 

	
             
 	
            The effective date of the Plan is May 28, 1985.
 

 

 

	
            Section 11.
 	
            Term of Plan
 

 

No Stock Options or Contingent Restricted Stock, Restricted Stock or Performance-Based Restricted Stock may be granted after February 24, 2007.

 

 

	
             
 	
            21
 

 

 

 

ARTICLE VI

ARCO BPA MERGER

 

	
            Section 1.
 	
            Purpose and Application of the Provisions of Article VI
 

 

If the ARCO BPA Merger is consummated prior to the conclusion of any Performance Period, as defined in Article I, Section 2(n) of the Plan relating to any outstanding grants of Contingent Restricted Stock (“CRS”), as defined in Article I, Section 2(h) of the Plan, then, notwithstanding any other provision of the Plan, the following provisions shall apply.

 

	
            Section 2.
 	
            Performance Ranking Measurement
 

 

The ARCO Performance Ranking, as defined in Article I, Section 2(o) of the Plan, will be calculated using each of the following four methods under Subparagraphs (a) through (d) and whichever of the four methods produces the highest Award Multiple, as calculated in the general calculation of the Performance-Based Restricted Stock Payment Schedule, as defined in Article I, Section 2(q) of the Plan, shall be used to determine the number of shares of Common Stock to be awarded to an Eligible Employee:

 

 (a)    (1)    
The TSR of ARCO means the sum of the dividends and appreciation or
          depreciation of the price of a share of Common Stock over the first to occur of
          (i) the end of the established measurement period for the applicable grant of
          CRS, and (ii) the date that ARCO Common Stock ceases trading on the New York
          Stock Exchange (NYSE). If Section 2(a)(1)(ii) is used, the beginning and ending
          stock price used to calculate the TSR of ARCO shall be the average of the
          closing price on the ten NYSE trading days prior to the last NYSE trading day of
          ARCO Common Stock, on the last NYSE trading day of ARCO Common Stock, and on the
          ten NYSE trading days following the last NYSE trading day of ARCO Common Stock,
          using the closing price on the NYSE of a BP Amoco ADS multiplied by the Exchange
          Ratio as defined in Article 1.3.2 of the Agreement and Plan of Merger, dated as
          of March 31, 1999 among BP Amoco p.l.c., Atlantic Richfield Company and Prairie
          Holdings, Inc. (the “Exchange Ratio”) to determine the price of ARCO
          Common Stock for the last ten NYSE trading days.

 

 (2)      The TSR of each member
of the Comparison Group, as defined in Article I, Section 2(f) of the Plan
(“Comparison Group TSR”) means the sum of the dividends and
appreciation or depreciation of the price of a share of Common Stock over the
same measurement period used for ARCO Common Stock in Subsection (1) above. The
beginning and ending stock price used to calculate the TSR of each member of the
Comparison Group shall be the average of the closing price on the ten NYSE
trading days prior to ARCO’s last NYSE trading day, on the last NYSE
trading day of ARCO Common Stock and on the ten NYSE trading days following
ARCO’s last NYSE trading day.

 

 

	
             
 	
            22
 

 

 

 

 (b)    
(1)    The
TSR of ARCO means the sum of the dividends and appreciation or depreciation of
the price of a share of Common Stock over the first to occur of (i) the end of
the established measurement period for the applicable grant of CRS, and (ii) the
date that ARCO Common Stock ceases trading on the NYSE. If Section 2(b)(1)(ii)
is used, the beginning and ending stock price used to calculate the TSR of ARCO
shall be the average of the closing price on the ten NYSE trading days prior to
ARCO’s last NYSE trading day, on the last NYSE trading day of ARCO Common
Stock, and on the ten NYSE trading days of ARCO Common Stock following
ARCO’s last NYSE trading day, using the closing price on the NYSE of a BP
Amoco ADS multiplied by the Exchange Ratio to determine the price of ARCO Common
Stock for each of the above twenty-one days (the ten days before ARCO’s
last NYSE trading day, ARCO’s last NYSE trading day and the ten days
following ARCO’s last NYSE trading day). 

 

(2)    
Comparison Group TSR means sum of the dividends and appreciation or depreciation
of the price of a share of Common Stock over the same measurement period used
for ARCO Common Stock in Subsection (1) above. The beginning and ending stock
price used to calculate the TSR of each member of the Comparison Group shall be
the average of the closing price on the ten NYSE trading days prior to last NYSE
trading day of ARCO Common Stock on the ARCO’s NYSE trading day, and on the
ten NYSE trading days following ARCO’s last NYSE trading day.

 

 (c)
    (1)    
The TSR of ARCO means the sum of the dividends and appreciation or depreciation
of the price of a share of Common Stock over the first to occur of (i) the end
of the established measurement period, or (ii) the date that ARCO Common Stock
ceases trading on the NYSE. If Section 2(c)(1)(ii) is used, the beginning and
ending stock price used to calculate the TSR of ARCO shall be the average of the
closing price on the twenty NYSE trading days prior to the last NYSE trading day
of ARCO Common Stock and on the last NYSE trading day of ARCO Common
Stock.

 

 (2)
    Comparison Group TSR means sum of the dividends and
appreciation or depreciation of the price of a share of Common Stock over the
same measurement period used for ARCO Common Stock in Subsection (1) above. The
beginning and ending stock price used to calculate the TSR of each member of the
Comparison Group shall be the average of the closing price on the twenty NYSE
trading days prior to ARCO’s last NYSE trading day, and on the last NYSE
trading day of ARCO Common Stock .

 

 (d)
    (1)    The TSR of ARCO means the sum
of the dividends and appreciation or depreciation of the price of a share of
Common Stock over the first to occur of (i) the end of the established
measurement period, or (ii) the date that

 

	
             
 	
            23
 

 

 

ARCO Common Stock ceases trading on the NYSE. If Section 2(d)(1)(ii) is used,
the beginning and ending stock price used to calculate the TSR of ARCO shall be
the average of the closing price on the twenty NYSE trading days prior to
ARCO’s last NYSE trading day and on the last NYSE trading day of ARCO
Common Stock, using the closing price on the NYSE of a BP Amoco ADS multiplied
by the Exchange Ratio to determine the price of ARCO Common Stock for each of
the above twenty-one days (the twenty days before ARCO’s last trading day
and ARCO’s last trading day). 

 

 (2)
    Comparison Group TSR means sum of the dividends and
appreciation or depreciation of the price of a share of Common Stock over the
same measurement period used for ARCO Common Stock in Subsection (1) above. The
beginning and ending stock price used to calculate the TSR of each member of the
Comparison Group shall be the average of the closing price on the twenty NYSE
trading days prior to ARCO’s last NYSE trading day, and on the last NYSE
trading day of ARCO Common Stock. 

 

	
            Section 3.
 	
            Comparison Group – ARCO BPA Merger
 

 

Should the merger of Mobil Corporation with Exxon Corporation be consummated prior to the end of a Performance Period for any of the outstanding CRS grants, a new company will not be selected to replace Mobil Corporation. Instead, the actual TSR performance of Mobil Corporation will be used through the day the common stock of Mobil Corporation ceases trading on the NYSE. In addition, for the time period commencing on the date when the common stock of Mobil Corporation ceases trading on the NYSE and ending on the close of an applicable Performance Period, as defined in Article I, Section 2(n) of the Plan, the TSR of Mobil Corporation will be measured by multiplying the price of a share of common stock of Exxon Corporation by the Exchange Ratio in the Merger Agreement between Exxon Corporation and Mobil Corporation in effect as of the completion date of such merger.

 

	
            Section 4.
 	
            Grant of Performance-Based Restricted Stock – ARCO BPA Merger
 

 

Upon the consummation of the ARCO BPA Merger, only Sections 1, 2 and 3 of this Article VI will be used to calculate the number of shares to be granted for all outstanding CRS grants, and the implementation or actions regarding these or any other provisions of the Plan related to effecting these provisions shall be done without any further approvals, actions or changes.

 

	
            Section 5.
 	
            Exercise of Stock Options
 

 

There shall be no execution of any directions to exercise a Stock Option on the
day immediately preceding the date of the ARCO BPA Merger and on the date of the
ARCO BPA Merger and any directions to exercise Stock Options 

 

	
             
 	
            24
 

 

 

which are pending
execution on such dates or are received for execution on such dates shall be
executed commencing on the first day following the date of the ARCO
BPA Merger on which an ADS of BP Amoco is traded on the New York Stock Exchange.

 

 

 

 

 

	
             
 	
            25
 

 

 

ARTICLE VII

 

CONSOLIDATION OF STOCK OPTIONS AND PERFORMANCE-BASED

DIVIDEND SHARE CREDITS AND RE-PRICING OF STOCK OPTIONS

 

With respect to outstanding Stock Options granted under the Plan, from February 1, 1992 through March 1, 1996, the aggregate Option Price for a plan year, as defined in Article II, Section 2(a) of the Plan, with respect to all outstanding Stock Options granted in the respective plan year shall be divided by the sum of the total number of the shares relating to such options and the total number of Performance-Based Dividend Share Credits (any fractional amounts of such Credits shall be rounded to the next whole number) relating to such options, which sum shall constitute a new number of outstanding Stock Options, and the quotient shall be the new Option Price for the outstanding Stock Options. All Performance-Based Dividend Share Credits relating to such Stock Option shall be cancelled. The following example, using assumed numbers, illustrates the application of these provisions.

 

1.     Assume the grant of Stock Options on February 24, 1992 has 720,000 shares relating to outstanding Stock Options, with and Option Price of $31.32 and 398,000 outstanding Performance-Based Dividend Share Credits relating to such Stock Options.

 

2.     The existing Option Price relating to the Stock Options granted on February 24, 1992 shall be changed to a new Option Price and the total amount of such Options shall be changed, as follows:

 

	 	(a)	720,000
        x $31.32 = $22,550,400 [Aggregate Option Price for Stock Option grant
        made on 2/24/92] 

	 	(b)	720,000
        + 398,000 = 1,118,000 [Outstanding Stock Options for grant made on 2/24/92]
        

	 	(c)	$22,550,400
        divided by 1,118,000 = $20.1703 [New Option Price for Stock Option grant
        made on 2/24/92] 

	 	(d)	There
        are 1,118,000 outstanding Stock Options under the grant of Stock Options
        made on February 24, 1992 with an Option Price of $20.1703 

	 	(e)	There
        are no remaining Performance-Based Dividend Share Credits relating to
        the grant of Stock Options made on February 24, 1992. 

 

	
             
 	
            26Exhibit 4.1

BP
EMPLOYEE SAVINGS PLAN

BP EMPLOYEE
SAVINGS PLAN

          BP
Corporation North America Inc. (the “Company”) maintains,
effective January 1, 2002, the BP Employee Savings Plan (the “Plan”) for
the benefit of eligible employees of the Company and its participating
affiliates.  The Plan is intended to
constitute a qualified profit sharing plan, as described in Section 401(a)
of the Code, which includes a qualified cash or deferred arrangement, as
described in Section 401(k) of the Code.

          The
Plan constitutes an amendment and restatement of the Amoco Employee Savings Plan
(“AESP”), and reflects (i) the merger of the BP America Capital Accumulation Plan
(“BP America CAP”) into the Plan on or after April 7, 2000 (concurrently with
the transfer of certain liabilities and assets of AESP and BP America CAP to
the BP
Amoco DirectSave Plan and to the BP Amoco Partnership Savings Plan on or
after April 7, 2000), and (ii) the merger of the CH-Twenty Capital Accumulation
Plan (“CH-20 CAP”) and the Vastar Capital Accumulation Plan (“Vastar CAP”) into
the Plan as of the close of business on December 31, 2001, and the transfer of
certain liabilities and assets of the Atlantic Richfield Capital Accumulation
Plan (“ARCO CAP”) to the Plan as of the close of business on December 31, 2001
(as more fully described in Appendix 16.3).

          The
benefits, rights and features of an individual who participated in this Plan,
CH-20 CAP, Vastar CAP or the portion of ARCO CAP of which the liabilities and
assets are transferred to the Plan before the close of business on December 31,
2001, but who does not have an account balance under the Plan at that time,
will be determined under the applicable instruments in effect for this Plan,
CH-20 CAP, Vastar CAP or ARCO CAP, whichever is applicable, on the earlier of:
(1) the day on which such individual’s account was reduced to zero; or (2) the
day on which such individual’s employment terminated.  The terms of this Plan apply to any accounts created for such
individual hereunder on or after January 1, 2002.

TABLE
OF CONTENTS

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
  

  
	
  ARTICLE I

  	
   

  	
  DEFINITIONS

  	
  1

  	 
 
	
  1.1  

  	
   

  	
   

  	
  “Accounting Period”

  	
  1

  	 
 
	
  1.2  

  	
   

  	
   

  	
  “Accounts”

  	
  1

  	 
 
	
  1.3  

  	
   

  	
   

  	
  “Accrued Benefit”

  	
  2

  	 
 
	
  1.4  

  	
   

  	
   

  	
  “Active Participant”

  	
  2

  	 
 
	
  1.5  

  	
   

  	
   

  	
  “Administrative Named
  Fiduciary”

  	
  2

  	 
 
	
  1.6  

  	
   

  	
   

  	
  “Administrative Services
  Agreement”

  	
  2

  	 
 
	
  1.7  

  	
   

  	
   

  	
  “Administrator”

  	
  2

  	 
 
	
  1.8  

  	
   

  	
   

  	
  “AESP”

  	
  2

  	 
 
	
  1.9  

  	
   

  	
   

  	
  “Alternate Payee”

  	
  2

  	 
 
	
  1.10

  	
   

  	
   

  	
  “American Depositary
  Share”

  	
  2

  	 
 
	
  1.11

  	
   

  	
   

  	
  “Appendix”

  	
  2

  	 
 
	
  1.12

  	
   

  	
   

  	
  “Applicable Named
  Fiduciary”

  	
  2

  	 
 
	
  1.13

  	
   

  	
   

  	
  “ARCO CAP”

  	
  3

  	 
 
	
  1.14

  	
   

  	
   

  	
  “Authorized Absence”

  	
  3

  	 
 
	
  1.15

  	
   

  	
   

  	
  “BP America CAP”

  	
  3

  	 
 
	
  1.16

  	
   

  	
   

  	
  “Beneficiary”

  	
  3

  	 
 
	
  1.17

  	
   

  	
   

  	
  “Board of Directors”

  	
  3

  	 
 
	
  1.18

  	
   

  	
   

  	
  “Break in Service”

  	
  3

  	 
 
	
  1.19

  	
   

  	
   

  	
  “Business Day”

  	
  3

  	 
 
	
  1.20

  	
   

  	
   

  	
  “CH-20 CAP”

  	
  3

  	 
 
	
  1.21

  	
   

  	
   

  	
  “Claims Administrator”

  	
  3

  	 
 
	
  1.22

  	
   

  	
   

  	
  “Code”

  	
  3

  	 
 
	
  1.23

  	
   

  	
   

  	
  “Commonly Administered
  Plan”

  	
  4

  	 
 
	
  1.24

  	
   

  	
   

  	
  “Commonly Controlled
  Entity”

  	
  4

  	 
 
	
  1.25

  	
   

  	
   

  	
  “Company”

  	
  4

  	 
 
	
  1.26

  	
   

  	
   

  	
  “Company Stock”

  	
  4

  	 
 
	
  1.27

  	
   

  	
   

  	
  “Company Stock Fund”

  	
  4

  	 
 
	
  1.28

  	
   

  	
   

  	
  “Compensation”

  	
  4

  	 
 
	
  1.29

  	
   

  	
   

  	
  “Contractor Firm”

  	
  6

  	 
 
	
  1.30

  	
   

  	
   

  	
  “Contribution”

  	
  6

  	 
 
	
  1.31

  	
   

  	
   

  	
  “Contribution Dollar
  Limit”

  	
  7

  	 
 
	
  1.32

  	
   

  	
   

  	
  “Contribution Election” or
  “Election”

  	
  7

  	 
 
	
  1.33

  	
   

  	
   

  	
  “Contribution Percentage”

  	
  7

  	 
 
	
  1.34

  	
   

  	
   

  	
  “Designated Officer”

  	
  7

  	 
 
	
  1.35

  	
   

  	
   

  	
  “Direct Rollover”

  	
  7

  	 
 
	
  1.36

  	
   

  	
   

  	
  “Disability” or “Disabled”

  	
  7

  	 
 
	
  1.37

  	
   

  	
   

  	
  “Distributee”

  	
  7

  	 
 
	
  1.38

  	
   

  	
   

  	
  “Effective Date”

  	
  7

  	 
 
	
  1.39

  	
   

  	
   

  	
  “Eligible Employee”

  	
  7

  	 
 
	
  1.40

  	
   

  	
   

  	
  “Eligible Retirement Plan”

  	
  8

  	 
 
	
  1.41

  	
   

  	
   

  	
  “Eligible Rollover
  Distribution”

  	
  8

  	 
 
	
  1.42

  	
   

  	
   

  	
  “Employee”

  	
  9

  	 
 

i

	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.43

  	
   

  	
   

  	
  “Employer”

  	
  9

  
	
  1.44

  	
   

  	
   

  	
  “Employment Date”

  	
  9

  
	
  1.45

  	
   

  	
   

  	
  “ERISA”

  	
  9

  
	
  1.46

  	
   

  	
   

  	
  “Exchange Election”

  	
  9

  
	
  1.47

  	
   

  	
   

  	
  “Fiduciary”

  	
  9

  
	
  1.48

  	
   

  	
   

  	
  “Heritage Amoco
  Participant”

  	
  9

  
	
  1.49

  	
   

  	
   

  	
  “Heritage ARCO Participant”

  	
  10

  
	
  1.50

  	
   

  	
   

  	
  “Heritage BP Beneficiary”

  	
  10

  
	
  1.51

  	
   

  	
   

  	
  “Heritage BP Participant”

  	
  10

  
	
  1.52

  	
   

  	
   

  	
  “Highly Compensated
  Eligible Employee” or “HCE”

  	
  10

  
	
  1.53

  	
   

  	
   

  	
  “Hour of Service”

  	
  10

  
	
  1.54

  	
   

  	
   

  	
  “Income Fund”

  	
  10

  
	
  1.55

  	
   

  	
   

  	
  “Inactive Participant”

  	
  10

  
	
  1.56

  	
   

  	
   

  	
  “Investment Committee”

  	
  10

  
	
  1.57

  	
   

  	
   

  	
  “Investment Election”

  	
  10

  
	
  1.58

  	
   

  	
   

  	
  “Investment Option”

  	
  10

  
	
  1.59

  	
   

  	
   

  	
  “Member”

  	
  10

  
	
  1.60

  	
   

  	
   

  	
  “Money Market Fund”

  	
  10

  
	
  1.61

  	
   

  	
   

  	
  “Non-Highly Compensated
  Employee” or “NHCE”

  	
  10

  
	
  1.62

  	
   

  	
   

  	
  “Normal Retirement Date”

  	
  10

  
	
  1.63

  	
   

  	
   

  	
  “Participant”

  	
  10

  
	
  1.64

  	
   

  	
   

  	
  “Payment Date”

  	
  10

  
	
  1.65

  	
   

  	
   

  	
  “Plan”

  	
  11

  
	
  1.66

  	
   

  	
   

  	
  “Plan Sponsor”

  	
  11

  
	
  1.67

  	
   

  	
   

  	
  “Plan Year”

  	
  11

  
	
  1.68

  	
   

  	
   

  	
  “Predecessor Company”

  	
  11

  
	
  1.69

  	
   

  	
   

  	
  “QDRO”

  	
  11

  
	
  1.70

  	
   

  	
   

  	
  “Reemployment Date”

  	
  11

  
	
  1.71

  	
   

  	
   

  	
  “Senior Vice President”

  	
  11

  
	
  1.72

  	
   

  	
   

  	
  “Service”

  	
  11

  
	
  1.73

  	
   

  	
   

  	
  “Settlement Date”

  	
  11

  
	
  1.74

  	
   

  	
   

  	
  “Sever from Service”

  	
  11

  
	
  1.75

  	
   

  	
   

  	
  “Severance from Service”

  	
  11

  
	
  1.76

  	
   

  	
   

  	
  “Shareholder Rights”

  	
  11

  
	
  1.77

  	
   

  	
   

  	
  “Spousal Consent”

  	
  11

  
	
  1.78

  	
   

  	
   

  	
  “Spouse”

  	
  12

  
	
  1.79

  	
   

  	
   

  	
  “Sweep Time”

  	
  12

  
	
  1.80

  	
   

  	
   

  	
  “Trade Date”

  	
  12

  
	
  1.81

  	
   

  	
   

  	
  “Trust”

  	
  12

  
	
  1.82

  	
   

  	
   

  	
  “Trust Agreement”

  	
  12

  
	
  1.83

  	
   

  	
   

  	
  “Trust Fund”

  	
  12

  
	
  1.84

  	
   

  	
   

  	
  “Trustee”

  	
  12

  
	
  1.85

  	
   

  	
   

  	
  “Unit Value”

  	
  12

  
	
  1.86

  	
   

  	
   

  	
  “Valuation Time”

  	
  12

  
	
  1.87

  	
   

  	
   

  	
  “Vastar CAP”

  	
  12

  
	
  1.88

  	
   

  	
   

  	
  “Year of Participation”

  	
  12

  

ii

	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE II

  	
   

  	
  PARTICIPATION
  AND SERVICE

  	
  13

  
	
  2.1  

  	
   

  	
   

  	
  Eligibility

  	
  13

  
	
  2.2  

  	
   

  	
   

  	
  Impact of Change of Employment Status on Eligibility

  	
  13

  
	
  2.3  

  	
   

  	
   

  	
  Enrollment

  	
  13

  
	
  2.4  

  	
   

  	
   

  	
  Duration

  	
  13

  
	
  2.5  

  	
   

  	
   

  	
  Service

  	
  13

  
	
  2.6  

  	
   

  	
   

  	
  Other Service-Crediting Provisions

  	
  13

  
	
  2.7  

  	
   

  	
   

  	
  Authorized Absences

  	
  14

  
	
  2.8  

  	
   

  	
   

  	
  Non-duplication

  	
  14

  
	
  2.9  

  	
   

  	
   

  	
  Transfer of Accounts Upon Change of Employment
  Status

  	
  15

  
	
  2.10

  	
   

  	
   

  	
  Transfer of Accounts Upon Outsourcing

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE III

  	
   

  	
  CONTRIBUTIONS

  	
  16

  
	
  3.1  

  	
   

  	
   

  	
  Before-Tax Contributions

  	
  16

  
	
  3.2  

  	
   

  	
   

  	
  After-Tax Contributions

  	
  16

  
	
  3.3  

  	
   

  	
   

  	
  Match Contributions

  	
  16

  
	
  3.4  

  	
   

  	
   

  	
  Rollover Contributions

  	
  17

  
	
  3.5  

  	
   

  	
   

  	
  Election Procedures

  	
  17

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE IV

  	
   

  	
  LIMITATION
ON CONTRIBUTIONS

  	
  19

  
	
  4.1  

  	
   

  	
   

  	
  Limit on Before-Tax Contributions

  	
  19

  
	
  4.2  

  	
   

  	
   

  	
  Actual Deferral Percentage Test

  	
  19

  
	
  4.3  

  	
   

  	
   

  	
  Actual Contribution Percentage Test

  	
  20

  
	
  4.4  

  	
   

  	
   

  	
  Prohibition on Multiple Use

  	
  21

  
	
  4.5  

  	
   

  	
   

  	
  Maximum Contributions

  	
  21

  
	
  4.6  

  	
   

  	
   

  	
  Imposition of Limitations

  	
  22

  
	
  4.7  

  	
   

  	
   

  	
  Return of Excess Annual Additions, Deferrals and
  Contributions

  	
  22

  
	
  4.8  

  	
   

  	
   

  	
  Incorporation by Reference

  	
  26

  
	
  4.9  

  	
   

  	
   

  	
  Catch-Up Contributions

  	
  26

  
	
  4.10

  	
   

  	
   

  	
  Definition of Compensation

  	
  26

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE V

  	
   

  	
  ACCOUNTING
FOR
  PARTICIPANTS’ ACCOUNTS AND FOR INVESTMENT OPTIONS

  	
  27

  
	
  5.1  

  	
   

  	
   

  	
  Individual Participant Accounting

  	
  27

  
	
  5.2  

  	
   

  	
   

  	
  Accounting for Investment Options

  	
  28

  
	
  5.3  

  	
   

  	
   

  	
  Accounts for Beneficiaries and Alternate Payees

  	
  28

  
	
  5.4  

  	
   

  	
   

  	
  Transition Rules

  	
  29

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VI

  	
   

  	
  INVESTMENT
  OPTIONS AND ELECTIONS

  	
  30

  
	
  6.1  

  	
   

  	
   

  	
  Investment of Contributions

  	
  30

  
	
  6.2  

  	
   

  	
   

  	
  Investment of Accounts

  	
  30

  
	
  6.3  

  	
   

  	
   

  	
  Investment Options

  	
  31

  
	
  6.4  

  	
   

  	
   

  	
  Transition Rules

  	
  31

  
	
  6.5  

  	
   

  	
   

  	
  Restricted Investment Options

  	
  31

  
	
  6.6  

  	
   

  	
   

  	
  Risk of Loss

  	
  32

  
	
  6.7  

  	
   

  	
   

  	
  Interests in the Investment Options

  	
  32

  
	
  6.8  

  	
   

  	
   

  	
  Sole Source of Benefits

  	
  32

  

iii

	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.9    

  	
   

  	
   

  	
  Alternate Payees and Beneficiaries

  	
  32

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VII

  	
   

  	
  VESTING AND
  FORFEITURES

  	
  33

  
	
  7.1    

  	
   

  	
   

  	
  Vesting in Match Account

  	
  33

  
	
  7.2    

  	
   

  	
   

  	
  Vesting in Heritage Amoco Match Account

  	
  33

  
	
  7.3    

  	
   

  	
   

  	
  Vesting in Before-Tax, After-Tax and Rollover
  Accounts

  	
  34

  
	
  7.4    

  	
   

  	
   

  	
  Forfeitures

  	
  34

  
	
  7.5    

  	
   

  	
   

  	
  Application of Former Vesting Schedule

  	
  35

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VIII

  	
   

  	
  PARTICIPANT
  LOANS

  	
  36

  
	
  8.1    

  	
   

  	
   

  	
  Participant Loans Permitted

  	
  36

  
	
  8.2    

  	
   

  	
   

  	
  Loan Funding Limits

  	
  36

  
	
  8.3    

  	
   

  	
   

  	
  Maximum Number of Loans

  	
  36

  
	
  8.4    

  	
   

  	
   

  	
  Source of Loan Funding

  	
  36

  
	
  8.5    

  	
   

  	
   

  	
  Interest Rate

  	
  37

  
	
  8.6    

  	
   

  	
   

  	
  Repayment

  	
  37

  
	
  8.7    

  	
   

  	
   

  	
  Reinvestment of Repayments

  	
  37

  
	
  8.8    

  	
   

  	
   

  	
  Loan Application, Note and Security

  	
  37

  
	
  8.9    

  	
   

  	
   

  	
  Default

  	
  37

  
	
  8.10  

  	
   

  	
   

  	
  Foreclosure

  	
  38

  
	
  8.11  

  	
   

  	
   

  	
  Spousal Consent

  	
  38

  
	
  8.12  

  	
   

  	
   

  	
  Special Rules Concerning Loan Repayments While on
  Qualified Military Leave

  	
  38

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE IX

  	
   

  	
  WITHDRAWALS

  	
  40

  
	
  9.1    

  	
   

  	
   

  	
  Withdrawals from After-Tax Account

  	
  40

  
	
  9.2    

  	
   

  	
   

  	
  Withdrawals from Rollover Account

  	
  40

  
	
  9.3    

  	
   

  	
   

  	
  Withdrawals from Match Account

  	
  40

  
	
  9.4    

  	
   

  	
   

  	
  Withdrawals from Before-Tax Account for Hardship

  	
  40

  
	
  9.5    

  	
   

  	
   

  	
  Withdrawals from Before-Tax Account for Other
  Reasons

  	
  42

  
	
  9.6    

  	
   

  	
   

  	
  Partial Withdrawals

  	
  42

  
	
  9.7    

  	
   

  	
   

  	
  Withdrawal Processing Rules

  	
  42

  
	
  9.8    

  	
   

  	
   

  	
  Alternate Payees and Beneficiaries

  	
  43

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE X

  	
   

  	
  ADDITIONAL
  OPTIONAL FORMS OF BENEFIT FOR AN INACTIVE PARTICIPANT

  	
  44

  
	
  10.1  

  	
   

  	
   

  	
  Request for Withdrawal of Benefits

  	
  44

  
	
  10.2  

  	
   

  	
   

  	
  Deadline for Withdrawal

  	
  44

  
	
  10.3  

  	
   

  	
   

  	
  Payment Form and Medium

  	
  45

  
	
  10.4  

  	
   

  	
   

  	
  Small Amounts Paid Immediately

  	
  46

  
	
  10.5  

  	
   

  	
   

  	
  Payment Within Life Expectancy

  	
  46

  
	
  10.6  

  	
   

  	
   

  	
  Incidental Benefit Rule

  	
  46

  
	
  10.7  

  	
   

  	
   

  	
  Continued Payment of Amounts in Payment Status on
  Effective Date

  	
  46

  
	
  10.8  

  	
   

  	
   

  	
  Direct Rollover

  	
  46

  
	
  10.9  

  	
   

  	
   

  	
  Delay

  	
  46

  
	
  10.10

  	
   

  	
   

  	
  Alternate Payees and Beneficiaries

  	
  46

  

iv

	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE XI

  	
   

  	
  REEMPLOYMENT

  	
  47

  
	
  11.1

  	
   

  	
   

  	
  Break in Service Rules

  	
  47

  
	
  11.2

  	
   

  	
   

  	
  Restoration of Forfeited Amounts

  	
  47

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE XII

  	
   

  	
  DISTRIBUTION OF
  ACCRUED BENEFITS ON DEATH

  	
  49

  
	
  12.1

  	
   

  	
   

  	
  Payment to Beneficiary

  	
  49

  
	
  12.2

  	
   

  	
   

  	
  Small Amounts Paid Immediately

  	
  49

  
	
  12.3

  	
   

  	
   

  	
  Beneficiary Designation

  	
  49

  
	
  12.4

  	
   

  	
   

  	
  Direct Rollover

  	
  50

  
	
  12.5

  	
   

  	
   

  	
  Alternate Payees and Beneficiaries

  	
  50

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE XIII

  	
   

  	
  TRUST
  ARRANGEMENT

  	
  51

  
	
  13.1

  	
   

  	
   

  	
  Trust Agreement

  	
  51

  
	
  13.2

  	
   

  	
   

  	
  Separate Entity

  	
  51

  
	
  13.3

  	
   

  	
   

  	
  Plan Asset Valuation

  	
  51

  
	
  13.4

  	
   

  	
   

  	
  Right of Employers to Plan Assets

  	
  51

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE XIV

  	
   

  	
  ADMINISTRATION

  	
  53

  
	
  14.1

  	
   

  	
   

  	
  General

  	
  53

  
	
  14.2

  	
   

  	
   

  	
  Claims Procedure

  	
  57

  
	
  14.3

  	
   

  	
   

  	
  Notices to Participants, Etc

  	
  58

  
	
  14.4

  	
   

  	
   

  	
  Notices to Claims Administrator

  	
  58

  
	
  14.5

  	
   

  	
   

  	
  Actions by the Company

  	
  58

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE XV

  	
   

  	
  ADOPTION AND
  WITHDRAWAL FROM PLAN

  	
  59

  
	
  15.1

  	
   

  	
   

  	
  Adoption by Other Employers

  	
  59

  
	
  15.2

  	
   

  	
   

  	
  Withdrawal from the Plan

  	
  59

  
	
  15.3

  	
   

  	
   

  	
  Employee Transfers Within Participating Group

  	
  59

  
	
  15.4

  	
   

  	
   

  	
  Designation of Agent

  	
  60

  
	
  15.5

  	
   

  	
   

  	
  Designated Officers

  	
  60

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE XVI

  	
   

  	
  AMENDMENT,
  TERMINATION AND MERGER

  	
  61

  
	
  16.1

  	
   

  	
   

  	
  Amendments

  	
  61

  
	
  16.2

  	
   

  	
   

  	
  Plan Termination

  	
  62

  
	
  16.3

  	
   

  	
   

  	
  Plan Merger and Spinoff

  	
  62

  
	
  16.4

  	
   

  	
   

  	
  Design Decisions

  	
  63

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE XVII

  	
   

  	
  SPECIAL
  TOP-HEAVY RULES

  	
  64

  
	
  17.1

  	
   

  	
   

  	
  Application of Article XVII

  	
  64

  
	
  17.2

  	
   

  	
   

  	
  Definitions Concerning Top-Heavy Status

  	
  64

  
	
  17.3

  	
   

  	
   

  	
  Calculation of Top-Heavy Ratio

  	
  65

  
	
  17.4

  	
   

  	
   

  	
  Effect of Top-Heavy Status

  	
  65

  
	
  17.5

  	
   

  	
   

  	
  Effect of Discontinuance of Top-Heavy Status

  	
  65

  
	
  17.6

  	
   

  	
   

  	
  Intent of Article XVII

  	
  66

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE XVIII

  	
   

  	
  MISCELLANEOUS
  PROVISIONS

  	
  67

  
	
   18.1

  	
   

  	
   

  	
  Assignment and Alienation

  	
  67

  

v

	
   

  	
   

  	
   

  	
   

  	
   

  
	
  18.2  

  	
   

  	
   

  	
  Protected Benefits

  	
  67

  
	
  18.3  

  	
   

  	
   

  	
  Plan Does Not Affect Employment Rights

  	
  67

  
	
  18.4  

  	
   

  	
   

  	
  Deduction of Taxes from Amounts Payable

  	
  67

  
	
  18.5  

  	
   

  	
   

  	
  Facility of Payment

  	
  67

  
	
  18.6  

  	
   

  	
   

  	
  Source of Benefits

  	
  68

  
	
  18.7  

  	
   

  	
   

  	
  Reduction for Overpayment

  	
  68

  
	
  18.8  

  	
   

  	
   

  	
  Company Merger

  	
  68

  
	
  18.9  

  	
   

  	
   

  	
  Employees’ Trust

  	
  68

  
	
  18.10

  	
   

  	
   

  	
  Construction

  	
  68

  
	
  18.11

  	
   

  	
   

  	
  Invalidity of Certain Provisions

  	
  68

  
	
  18.12

  	
   

  	
   

  	
  Headings

  	
  69

  
	
  18.13

  	
   

  	
   

  	
  Governing Law

  	
  69

  
	
  18.14

  	
   

  	
   

  	
  Notice and Information Requirements

  	
  69

  
	
  18.15

  	
   

  	
   

  	
  Abandoned ESOP Accounts

  	
  69

  
	
  18.16

  	
   

  	
   

  	
  Reliance on Information Provided to Plan

  	
  69

  
	
  18.17

  	
   

  	
   

  	
  Recognition of Power of Attorney

  	
  69

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  APPENDIX 1.58

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  APPENDIX 16.3

  	
   

  	
   

  

vi

ARTICLE I

DEFINITIONS

          The
following sections of this Article I provide basic definitions of terms used
throughout the Plan, and whenever used herein in a capitalized form, except as
otherwise expressly provided, the terms will be deemed to have the following
meanings:

          1.1
“Accounting Period” means a period, not to exceed 1 year in duration,
designated by the Administrator with respect to each Investment Option.

          1.2
  “Accounts” mean the record of a Participant’s interest in the Plan’s
assets represented by his:

                    (a)     “After-Tax
Account” which is composed of After-Tax Contributions allocated to the
Participant under the Plan, plus all income and gains credited to, and minus
all losses, expenses and withdrawals charged to, such Account.

                    (b)     “Before-Tax
Account” which is composed of Before-Tax Contributions allocated to the
Participant under the Plan, plus all income and gains credited to, and minus
all losses, expenses and withdrawals charged to, such Account.

                    (c)     “Match
Account” which is composed of Match Contributions allocated to the
Participant under the Plan, plus all income and gains credited to, and minus
all losses, expenses and withdrawals charged to, such Account.  There are two types of Match Accounts to
which Match Contributions are allocated:
a Heritage Amoco Match Account for Heritage Amoco Participants and a BP
Match Account for all other Participants.

                    (d)     “Rollover
Account” which is composed of Rollover Contributions made by or allocated
to the Participant under the Plan, plus all income and gains credited to, and
minus all losses, expenses and withdrawals charged to, such Account.  There are two types of Rollover Accounts to
which Rollover Contributions are allocated:
an After-Tax Rollover Account for Rollover Contributions of amounts
which are not includible in gross income, as described in Section 402(c)(2)(A)
of the Code, and a Before-Tax Rollover Account for all other Rollover
Contributions.

As of the merger of CH-20 CAP and Vastar CAP into this
Plan, the accounts held under each such plan have been allocated and posted to
these Accounts in accordance with Appendix 16.3.  As of the transfer of certain liabilities and assets from ARCO
CAP into this Plan, the Accounts held under ARCO CAP have been allocated and
posted to these Accounts in accordance with Appendix 16.3.

With respect to an Alternate Payee or Beneficiary,
references to Accounts will be deemed to be references to all or that portion
of a Participant’s After-Tax Account, Before-Tax Account, Match Account and
Rollover Account which, under the terms of the Plan, has been allocated to an
Account maintained for such Alternate Payee or Beneficiary, plus all income and
gains credited to, and minus all losses, expenses and withdrawals charged to,
such Account.  References herein to
Accounts will also be deemed to include each of a Participant’s Accounts

and references herein to an Account will be deemed to
include any or each of the Participant’s Accounts.

          1.3
“Accrued Benefit” means the shares, units or other Trust Fund assets
allocated and posted to Accounts as of the Valuation Time in accordance with
the terms of this Plan, including any applicable Administrative Services
Agreement.

          1.4
“Active Participant” means a Participant who: (a) is an Employee; or (b)
for periods prior to January 1, 2002, and solely with respect to his Before-Tax
Account (unless the context clearly requires otherwise), is a former Employee
who has not incurred a separation from service under Section 401(k) of the Code
for which a distribution of his Before-Tax Account may be made.

          1.5
“Administrative Named Fiduciary” means a person or entity who:
(a) has the authority to control and manage the operation and
administration of the Plan or the Trust within the meaning of Section 402(a)(1)
of ERISA; (b) has the discretionary authority or discretionary
responsibility to administer the Plan or the Trust within the meaning of
Section 3(21)(A)(ii) of ERISA; or (c) exercises discretionary authority or
discretionary control respecting management of the Plan or the Trust within the
meaning of Section 3(21)(A)(i) of ERISA (other than trustee responsibilities
within the meaning of Section 405(c)(3) of ERISA), and includes the
Administrator and any other person (i) named in the Plan or the Trust; or
(ii) identified by a Designated Officer to be an Administrative Named
Fiduciary.

          1.6
“Administrative Services Agreement” means an agreement with a service
provider to provide administrative services to the Plan.

          1.7
“Administrator” means the Senior Vice President, or if an Applicable
Named Fiduciary has been identified with respect to the authority involved in
the provision of this Plan under consideration, then reference to the
Administrator in that context refers to such Applicable Named Fiduciary.  References in this Plan to the Administrator
will be deemed to be a reference to any person (other than a Fiduciary) to whom
ministerial responsibilities involved in the provisions of this Plan have been
delegated by the Administrator, including under an Administrative Services
Agreement.

          1.8
“AESP” means the Amoco Employee Savings Plan in effect on the date prior
to April 7, 2000.

          1.9
“Alternate Payee” means an individual who is entitled to all or a
portion of a Participant’s Account pursuant to a QDRO.

          1.10     “American
Depositary Share” means a security issued to allow easier holding and
trading of interests in foreign corporations in the United States.

          1.11     “Appendix”
means a written supplement attached to this
Plan and made a part hereof.

          1.12     “Applicable
Named Fiduciary”  means, with
respect to any authority, control or discretion in the operation,
administration or management of the Plan or Trust, the Administrative Named
Fiduciary who is charged with, or who exercises responsibility for, such
matter.

2

          1.13     “ARCO
CAP”  means the Atlantic Richfield
Capital Accumulation Plan in effect on the date prior to the Effective Date.

          1.14     “Authorized
Absence” means an absence from active employment, with or without Compensation,
authorized or recognized by a Commonly Controlled Entity under its standard
personnel practices applicable to the Employee, including any period of time
during which such person is considered to be on a leave of absence while
covered by a disability plan of his Employer.
The date that an Employee’s Authorized Absence ends will be determined
in accordance with the personnel policies of such Commonly Controlled Entity,
which ending date will be no earlier than the date that the Authorized Absence
is scheduled to end, unless the Employee communicates to such Commonly
Controlled Entity that he is to have a Severance from Service as of an earlier
date or such Commonly Controlled Entity causes the Employee to have a Severance
from Service as of an earlier date.

          1.15     “BP
America CAP”  means the BP America
Capital Accumulation Plan in effect on the date prior to April 7, 2000.

          1.16     “Beneficiary”
means an individual entitled to receive any
benefits payable on the death of a Participant in accordance with Sections 12.3
and 12.5.

          1.17     “Board
of Directors”  means the board of
directors of the Company as constituted from time to time.

          1.18     “Break
in Service”  means the period
following a Severance from Service and preceding a Reemployment Date.

          1.19     “Business
Day”  means any day on which the New
York Stock Exchange and the Trustee are open for business.

          1.20     “CH-20
CAP”  means the CH-Twenty Capital
Accumulation Plan in effect on the date prior to the Effective Date.

          1.21     “Claims
Administrator”  means the
Administrator for purposes of the initial review of any claim relating to a
person’s eligibility to participate in the Plan.  For purposes of the initial review of any claim relating to the
amount of a person’s benefit under the Plan, the Administrator acts as the
Claims Administrator unless another Applicable Named Fiduciary has been
identified by a Designated Officer for this purpose, in which case such other
person or entity will be the Claims Administrator for this purpose and will
have the authority of the Administrator with respect to such claim
determination.  The Administrator, in
his sole discretion, determines whether a claim relates to eligibility to
participate in the Plan or relates to the amount of benefit payable under the
Plan.  For purposes of the appeal of all
claims, whether relating to eligibility or amount of benefits, the
Administrator is the Claims Administrator unless another Applicable Named Fiduciary
has been identified by a Designated Officer for this purpose, in which case
such other person or entity will be the Claims Administrator for this purpose.

          1.22     “Code”  means
the Internal Revenue Code of 1986, as
amended.  References to any specific
Section will include any valid regulation promulgated thereunder, and any
statutory provision amending, supplementing or superseding such Section.

3

          1.23     “Commonly
Administered Plan”  means a
qualified plan described in Section 401(a) of the Code which:  (a) is sponsored or maintained by a Commonly
Controlled Entity; (b) has the same recordkeeper as this Plan; and (c) has the
same type of accounts as the Accounts in this Plan.

          1.24     “Commonly
Controlled Entity” means: (a) an Employer and any corporation, trade
or business, but only for so long as it and the Employer are members of a
controlled group of corporations as defined in Section 414(b) of the Code or
under common control as defined in Section 414(c) of the Code; provided,
however, that solely for purposes of the limitations of Section 415 of the
Code, the standard of control under Sections 414(b) and 414(c) of the Code will
be deemed to be “more than 50%” rather than “at least 80%”; (b) an
Employer and an organization, but only for so long as it and the Employer are
members of an affiliated service group as defined in Section 414(m) of the
Code; (c) an Employer and an organization, but only for so long as the
employees of it and the Employer are required to be aggregated under Section
414(o) of the Code; or (d) any other organization designated as such by a
Designated Officer.  An entity will not
be considered a Commonly Controlled Entity before it becomes a Commonly
Controlled Entity pursuant to the preceding sentence.

          1.25     “Company”
means BP Corporation North America Inc., an
Indiana corporation, or any successor corporation by merger, consolidation,
purchase or otherwise, which elects to adopt the Plan. Notwithstanding the
foregoing, in the context of any Plan provision where Company refers to the
issuer of Company Stock, “Company” will mean BP p.l.c., or any successor
thereto.

          1.26     “Company
Stock”  means ordinary shares of BP
p.l.c. in the form of American Depositary Shares.

          1.27     “Company
Stock Fund”  means the BP Stock Fund
Investment Option.

          1.28     “Compensation”
For purposes of Article III, (a) except to
the extent otherwise provided in subsection (b), below, “Compensation” means
amounts that are paid directly by an Employer for personal services and that:

                           (1)     are
paid to an Eligible Employee (except to the extent otherwise provided in
subsection (a)(2)(G), below); and

                           (2)     fall
in one of the following categories:

                                    (A)     basic
salary or wages, including forms of base pay delivered in alternative forms
such as piecework, payment by mileage for drivers, overtime, and shift and rate
differentials;

                                    (B)     pay
in lieu of vacation;

                                    (C)     commissions;

                                    (D)     bonus
payments made under an annual incentive plan at the business unit or stream
level;

4

                                    (E)     lump-sum
performance awards awarded in connection with annual salary administration;

                                    (F)     Alaska
worksite pay premiums, including any North Slope bonus; or 

                                    (G)     amounts
that: (i) are contributed, at the election of an Eligible Employee, on behalf
of the Eligible Employee to a cafeteria plan or a cash or deferred arrangement
and not included in the Eligible Employee’s gross income for federal income tax
purposes by reason of Sections 125, 132(f) or 402(e)(3) of the Code and (ii)
would, were it not for the Eligible Employee’s election, (I) meet the
requirement imposed by subsection (a)(1), above, and (II) fall in one of the
categories listed in subparagraphs (A) through (F) of this subsection (a)(2);
and

                           (3)     do
not fall in any of the following categories:

                                    (A)     sign-on,
retention, or ratification payments;

                                    (B)     severance
or separation payments;

                                    (C)     spot
awards, reward and recognition payments or any other comparable payments;

                                    (D)     remuneration
received attributable to moving or educational expenses;

                                    (E)     expense
allowances, or premium pay based on an Employee’s worksite except for any
Alaska worksite premium payment (including the North Slope bonus);

                                    (F)     tax
reimbursements;

                                    (G)     payments
made pursuant to an employment contract or bonus plan under which such payments
are not intended to be Compensation hereunder;

                                    (H)     payments
in excess of amounts paid pursuant to subsection (a)(2)(A) above, made to
compensate an Employee for having to work during all or part of the 60-day
period following notice in connection with a severance or separation program;
or

                                    (I)     awards
under the 1998 Share Option Plan (or any other income under any equity-based
plan);

                                    (J)     awards
under the BP Long Term Performance Plan; and

                                    (K)     any
other remuneration not described in subparagraphs (A) through (G) of subsection
(a)(2), above.

5

                     (b)     For
purposes of the definition of “Compensation” hereunder:

                               (1)     except
with respect to items of “Compensation” referred to in Sections 1.28(a)(2)(B)
and (b)(3), no amount will be considered “Compensation” hereunder if it is paid
after an individual’s Severance from Service, even if such amount would have
been considered “Compensation” if it were paid while the individual was an
Eligible Employee;

                               (2)     an
amount that should have been paid in a manner that met the requirements imposed
by this Section 1.28 (as modified by subsection (b)(1), above), but that
was mistakenly paid in a different manner, will be treated as meeting the
requirements imposed by this Section 1.28;

                               (3)     all
amounts paid in settlement (including, but not limited to, amounts paid for
front and back pay and emotional distress) to an Eligible Employee will be
excluded from the definition of “Compensation” hereunder unless otherwise
ordered pursuant to the final decision of the presiding court, arbitrator, or
administrative agency after all available appeals have been exhausted; and

                               (4)     if
it is not entirely clear whether an item of remuneration meets the requirements
of subsection (a)(2) or (a)(3), above, the Administrator, in his sole
discretion, will determine whether the item meets the requirements of such
subsection (a)(2) or (a)(3), above.

                    (c)        In
addition to other applicable limitations that may be set forth in the Plan, and
notwithstanding any other contrary provision of the Plan, annual Compensation
taken into account under the Plan for the purpose of calculating the
Contributions to the Plan by or in respect of a Participant for any Plan Year
will not exceed the applicable compensation limit under Section 401(a)(17) of
the Code, as adjusted. 

          1.29   “Contractor
Firm”  means a person or entity
which is not a Commonly Controlled Entity.

          1.30   “Contribution”  means an
amount contributed to the Plan on
behalf of a Participant, in one or more of the following types:

                      (a)     “After-Tax”
which means an amount contributed by the Employee on an after-tax basis in
conjunction with a Contribution Election, as described in Section 3.2.

                      (b)     “Before-Tax”
which means an amount contributed by the Employer on a before-tax basis under
Section 402(g) or 414(v) of the Code in conjunction with a Contribution
Election, as described in Sections 3.1 and 4.9.

                      (c)     “Match”
which means an amount contributed by the Employer based upon the amount
contributed by the Participant, as described in Section 3.3.

                      (d)     “Rollover”
which means an amount contributed by or on behalf of a Participant that
constitutes all or part of an “eligible rollover distribution” (within the
meaning of Section 402(f)(2)(A) of the Code, as described in Section 3.4,
and which satisfies the requirements of Section 402(c)(2) of the Code, to the
extent applicable.

6

          1.31     “Contribution
Dollar Limit”  means the annual
limit imposed on each Participant pursuant to Section 402(g) of the Code (as
indexed pursuant to Section 402(g)(4) of the Code, provided that no such
adjustment will be taken into account hereunder before the Plan Year in which
it becomes effective).

          1.32     “Contribution
Election” or “Election”
means the election made by an Active Participant who is an Eligible
Employee to reduce the Compensation to be paid to him by an amount equal to the
product of his Contribution Percentage and such Compensation subject to the
Contribution Election.  Subject to
Section 3.1(b), such Contribution Election will specify the portion of the
Contribution that is a Before-Tax Contribution and the portion that is an
After-Tax Contribution.

          1.33     “Contribution
Percentage”  means the percentage of
an Eligible Employee’s Compensation which is to be contributed to the Plan by
his Employer as a Contribution, or where the context requires, as a Before-Tax
Contribution or an After-Tax Contribution.

          1.34     “Designated
Officer”  means the Senior Vice
President and any other officer of the Company, the Group Vice President, Human
Resources of BP p.l.c. and any other officer of BP p.l.c., to whom (but only to
the extent specifically provided) authority to act on behalf of the Company has
been granted by the Board of Directors or one of its committees. 

          1.35     “Direct
Rollover” means a payment by the Plan to an Eligible Retirement Plan
specified by a Distributee.

          1.36     “Disability”
or “Disabled”  means the
Participant is disabled for purposes of the Employer’s long term disability
plan.

          1.37     “Distributee”
means a Participant, or a Participant’s
surviving Spouse; or, and only with regard to the interest of an Alternate
Payee, a Participant’s Spouse or former Spouse who is the Alternate Payee.

          1.38     “Effective
Date”  means January 1, 2002, the
date upon which the provisions of this amended and restated document take
effect.

          1.39     “Eligible
Employee”  means an Employee of an
Employer whose Compensation is paid in U.S. currency, except that an Eligible
Employee does not include:

                      (a)     an
Employee who is represented by a union unless the union and the Employer have
entered into a collective bargaining or other agreement that provides that the
Employee may participate in the Plan;

                      (b)     an
Employee, other than a Heritage ARCO Participant, who is a “nonresident alien”
(within the meaning of Section 7701(b)(1)(B) of the Code) and who receives no
“earned income” (within the meaning of Section 911(d)(2) of the Code) from
the Employer that constitutes income from sources within the United States
(within the meaning of Section 861(a)(3) of the Code);

                      (c)     an
individual employed pursuant to an agreement providing that the individual is
not eligible to participate in the Plan;

7

                      (d)     an
individual who is not contemporaneously classified as an Employee for purposes
of the Employer’s payroll system.  In
the event any such individual is reclassified as an Employee for any purpose,
including, without limitation, as a common law or statutory employee, by any
action of any third party, including, without limitation, any government
agency, or as a result of any private lawsuit, action, or administrative
proceeding, such individual will, notwithstanding such reclassification, remain
ineligible for participation hereunder and will not be considered an Eligible
Employee.  In addition to and not in
derogation of the foregoing, the exclusive means for an individual who is not
contemporaneously classified as an Employee of the Employer on the Employer’s
payroll system to become eligible to participate in this Plan is through an
amendment to this Plan which specifically renders such individual eligible for
participation hereunder; 

                      (e)     an
Employee whose basic compensation for services on behalf of an Employer is not
paid directly by an Employer;

                      (f)     an
at site Employee who is associated with Employer-operated (direct operations)
retail locations;

                      (g)     an
Employee who is making contributions to or receiving an employer contribution
under any other tax-qualified defined contribution pension plan that is
sponsored by any Commonly Controlled Entity and that provides for before-tax or
after-tax contributions;

                      (h)     an
into plane fueling or tank farm operations Employee of Air BP (other than an
operations Employee at Cleveland, Hopkins Airport); 

                      (i)     an
Employee who is a resident of Puerto Rico and who is subject to the income tax
laws of Puerto Rico; or

                      (j)     an
Employee covered by a classification which is scheduled in an Appendix.

          1.40     “Eligible
Retirement Plan”  means an
individual retirement account described in Section 408(a) of the Code, an
individual retirement annuity described in Section 408(b) of the Code, an
annuity plan described in Section 403(a) of the Code, an eligible deferred
compensation plan described in Section 457(b) of the Code which is maintained
by an eligible employer described in Section 457(e)(1)(A) of the Code (but only
if such employer agrees to separately account for amounts transferred into such
plan from the Plan), an annuity contract described in Section 403(b) of the
Code, or a qualified trust described in Section 401(a) of the Code which
accepts a Distributee’s Eligible Rollover Distribution.

          1.41     “Eligible
Rollover Distribution”  means any
distribution of all or any portion of the balance to the credit of a
Distributee, except that an Eligible Rollover Distribution does not include any
distribution that is one of a series of substantially equal periodic payments
(not less frequently than annually) made for the life (or life expectancy) of
the Distributee or the joint lives (or joint life expectancies) of the
Distributee and the Distributee’s designated Beneficiary, or for a specified
period of 10 years or more; any distribution to the extent such distribution is
required under Section 401(a)(9) of the Code; or, any “hardship
withdrawal” described in 

8

Treasury Regulation §1.401(k)-1(d)(2)(ii) that may not
be distributed to the Distributee without regard to hardship under
Section 401(k)(2)(B) of the Code.
The portion of a distribution which consists of after-tax contributions
which are not includible in gross income may be transferred only in a trustee-to-trustee
transfer and 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 account for amounts so transferred, including
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.

          1.42     “Employee”
means any person who either: (a) renders
services as a common law employee to a Commonly Controlled Entity and is on the
payroll of such Commonly Controlled Entity; or (b) is on an Authorized Absence
from employment with a Commonly Controlled Entity.  Notwithstanding the foregoing, the term “Employee” does not
include any individual retained by a Commonly Controlled Entity directly or
through an agency or other party to perform services for a Commonly Controlled
Entity (for either a definite or indefinite duration) in the capacity of a
fee-for-service worker or independent contractor or any similar capacity
including, without limitation, any such individual employed by temporary help
firms, technical help firms, staffing firms, employee leasing firms,
professional employer organizations or other staffing firms, whether or not
deemed to be “common law” employees or “leased employees” within the meaning of
Section 414(n) of the Code.

          1.43     “Employer”
means the Company and any Commonly
Controlled Entity that adopts the Plan in accordance with Article XV, as listed
in Appendix 1.43; provided, that an entity will cease to be an Employer when it
ceases to be a Commonly Controlled Entity or it withdraws from the Plan.

          1.44     “Employment
Date”  means the day an Employee
first earns an Hour of Service.

          1.45     “ERISA”  means
the Employee Retirement Income
Security Act of 1974, as amended.
Reference to any specific Section includes any valid regulation
promulgated thereunder, and any statutory provision amending, supplementing or
superseding such Section.

          1.46     “Exchange
Election”  means an election by a
Participant to change the investment of all or some specified portion of such
Participant’s Accounts, as described in Section 6.2.

          1.47     “Fiduciary”
means: (a) any individual or entity which a Designated Officer identifies
to be an Administrative Named Fiduciary with respect to such individual’s or
entity’s authority to control and manage the operation and administration of
the Plan; (b) any individual or entity which an Administrative Named
Fiduciary, acting on behalf of the Plan, designates to be a Fiduciary; or (c)
any other individual or entity who performs a fiduciary function under the Plan
as defined in Section 3(21) of ERISA.

          1.48     “Heritage
Amoco Participant”  means: (a) a
participant with an account balance in AESP on the day prior to April 7, 2000;
(b) an Eligible Employee on the payroll of the Plan Sponsor or a
participating employer in AESP on the day prior to April 7, 2000; or (c) a
rehired former participant in AESP who either (I) is credited with at least 2
years of Service under AESP prior to April 7, 2000, or (II) who as of his
rehire date has not incurred a Break in Service of 7 consecutive years.

9

          1.49     “Heritage
ARCO Participant”  means a
participant or former participant in ARCO CAP prior to the Effective Date.

          1.50     “Heritage
BP Beneficiary”  means the
Beneficiary of a Heritage BP Participant who died prior to April 7, 2000.

          1.51     “Heritage
BP Participant”  means a participant
or former participant in BP America CAP prior to April 7, 2000.

          1.52     “Highly
Compensated Eligible Employee” or “HCE”  means an Eligible Employee who is a “highly compensated
employee”
within the meaning of Section 414(q) of the Code (determined as if the
election described in Section 414(q)(1)(B)(ii) of the Code has not been
made), the provisions of which are incorporated herein by reference.

          1.53     “Hour
of Service”  means an hour for which
an Employee is paid or entitled to be paid, with respect to the performance of
duties for any Commonly Controlled Entity either as regular wages, salary, or
commissions or pursuant to an award or agreement requiring a Commonly
Controlled Entity to pay back wages.
The crediting of an Hour of Service will be made in accordance with
Department of Labor Regulation §2530.200b-2 and 3.

          1.54     “Income
Fund”  means the Investment Option
designated as the Income Fund Investment Option by the Administrator, or if
none, the Money Market Fund.

          1.55     ”Inactive
Participant”  means a Participant
who is not an Active Participant.

          1.56     “Investment
Committee”  means the Investment
Committee designated by the Company for the Trust, or if none, the Chief
Financial Officer of the Company.

          1.57     “Investment
Election”  means an election by
which a Participant directs the investment of his Contributions or amounts
allocated to his Account, as described in Section 6.1.

          1.58     “Investment
Option”  means each of the
Investment Options available under the Plan as listed in Appendix 1.58.

          1.59     ”Member”  means
a Participant, Alternate Payee or
Beneficiary.

          1.60     “Money
Market Fund”  means the Investment
Option designated as the Money Market Fund Investment Option by the
Administrator.

          1.61     “Non-Highly
Compensated Employee” or “NHCE”
means an Eligible Employee who is not an HCE.

          1.62     “Normal
Retirement Date”  means the date on
which a Participant attains age 65.

          1.63     “Participant”
means an individual who is participating in
the Plan after completing the Plan’s requirements for participation, but only
for so long as such individual is considered a Participant in accordance with
Section 2.4.

          1.64     “Payment
Date”  means the date on or after
the Settlement Date on which an individual’s Accrued Benefit is withdrawn (or
commences to be withdrawn), which date will be at least the minimum number of
days required by law, if any, after the date the individual has received such
notice as is required by law, if any, before a withdrawal can be made (or
commenced to be made) as determined by the Administrator.

10

          1.65     “Plan”  means
the BP Employee Savings Plan, as set
forth herein and as hereafter may be amended.

          1.66     “Plan
Sponsor”  means BP Corporation North
America Inc.

          1.67     “Plan
Year”  means each calendar year.

          1.68     “Predecessor
Company”  means an entity or
predecessor thereof, prior, in either case, to its becoming a Commonly
Controlled Entity, or to its assets being acquired by a Commonly Controlled
Entity, as determined by the Company.

          1.69     “QDRO”  means a
domestic relations order which the
Administrator has determined to be a qualified domestic relations order within
the meaning of Section 414(p) of the Code.

          1.70     “Reemployment
Date”  means the first date on which
an Employee completes an Hour of Service by performing services as an Employee
after a Break in Service.

          1.71     “Senior
Vice President”  means the Senior
Vice President - Human Resources of the Company or, upon the resignation or
removal of such Senior Vice President, any successor officer to the Senior Vice
President who performs substantially similar duties with respect to
administration of employee benefits (whether assigned a different title by the
Company or not), or, in the absence of such a successor, the General Counsel of
the Company.

          1.72     “Service”
means a Participant’s service with any
Commonly Controlled Entity, measured in accordance with Article II.

          1.73     “Settlement
Date”  means the date as of which a
financial transaction from a corresponding Trade Date is settled in cash or in
kind.

          1.74     “Sever
from Service”  means to incur a
Severance from Service.

          1.75     “Severance
from Service”  means the earlier of:
(a) the date an Employee terminates employment with any Commonly Controlled
Entity by reason of a resignation, discharge, retirement, or death; or (b) the
first anniversary of the date the Employee is first absent (but not on an
Authorized Absence) from employment by any Commonly Controlled Entity for any
other reason.  An Employee who fails to
return to employment with any Commonly Controlled Entity at the expiration of
an Authorized Absence will be deemed to have Severed from Service on the first
to occur of the expiration of his Authorized Absence or the first anniversary
of the first day of his Authorized Absence.
An Employee who transfers employment between Commonly Controlled
Entities will not be deemed to have Severed from Service.

          1.76     “Shareholder
Rights”  means any right to vote (or
refrain from voting) either in person or by general or limited proxy with
respect to Company Stock.

          1.77     “Spousal
Consent”  means the irrevocable
written consent given by a Spouse to a Participant’s election (or waiver) of a
specified form of benefit or Beneficiary designation.  The Spouse’s consent must acknowledge the effect on the Spouse of
the Participant’s election, waiver or designation and be duly witnessed by a
Plan representative or notary public.
Spousal Consent will be valid only with respect to the Spouse who signs
the Spousal Consent and only for the particular choice made by the Participant
which requires Spousal Consent.  A
Participant may revoke (without Spousal Consent) a prior election, waiver or
designation that required Spousal

11

Consent at any time before the Sweep Time associated
with the Settlement Date upon which payments will begin.  Spousal Consent will not be necessary to the
extent that there is a determination by the Administrator that there is no Spouse,
the Spouse cannot be located or such other circumstances as may be established
by applicable law.

          1.78     “Spouse”  means
a person who, as of the relevant time,
is married to the Participant under the laws of the State of the Participant’s
residence as evidenced by a valid marriage certificate or other proof
acceptable to the Administrator.

          1.79     “Sweep
Time”  means the cutoff time
established by the Administrator to receive notification of a financial
transaction in order to process the transaction with respect to a Trade Date
designated by the Administrator.

          1.80     “Trade
Date”  means the Business Day as of
which a financial transaction is effected.

          1.81     “Trust”  means
the legal entity resulting from the
Trust Agreement, in which some or all of the assets of this Plan will be
received, held, invested and distributed to or for the benefit of Participants
and Beneficiaries.

          1.82     “Trust
Agreement” means the agreement between the Company and the Trustee
establishing the Trust, and any amendments thereto.

          1.83     “Trust
Fund”  means any property, real or
personal, received by and held by the Trustee, plus all income and gains and
minus all losses, expenses, withdrawals and distributions chargeable thereto.

          1.84     “Trustee”
means any corporation, individual or
individuals designated in the Trust Agreement accepting the appointment as
Trustee to execute the duties of the Trustee as set forth in the Trust
Agreement.

          1.85     “Unit
Value”  means the value of a unit in
an applicable Investment Option, as determined in good faith by the Trustee or
the custodian of the Trust Fund, or, in the case of a mutual fund  shares, by the issuer of such mutual fund
shares.

          1.86     “Valuation
Time”  means 4 p.m. (Eastern Time)
or, if earlier, the close of business of the New York Stock Exchange, or as
otherwise determined by the Administrator.

          1.87     “Vastar
CAP”  means the Vastar Capital
Accumulation Plan in effect on the date prior to the Effective Date.

          1.88     “Year
of Participation”  means each year
of Service to the extent earned during the period beginning on the date a
Participant begins making Before-Tax or After-Tax Contributions to the Plan (or
any plan the assets of which are merged into the Plan) and continuing for so
long as the person remains a Participant.

12

ARTICLE II

PARTICIPATION AND SERVICE

          2.1 Eligibility.

                    (a)     Participant
on Effective Date.  Each person who
was a participant with an accrued benefit in the Plan, ARCO CAP, CH-20 CAP or
Vastar CAP immediately before the Effective Date will continue as a Participant
as of the Effective Date, except as provided in Supplement A of Appendix 16.3.

                    (b)     Other
Eligible Employee.  A person who
becomes an Employee will be eligible to become a Participant on his Employment
Date or Reemployment Date, or if later, the date such person becomes an
Eligible Employee.

          2.2
Impact of Change of Employment Status on Eligibility.  An Employee who is not an Eligible Employee
will be eligible to become a Participant on the date he becomes an Eligible
Employee.  If the status of a
Participant changes from Eligible Employee to Employee, such Participant will
cease to be eligible to make or to have Contributions made on his behalf to the
Plan, until such time as such Participant is reemployed by an Employer as an
Eligible Employee.

          2.3
Enrollment.  An Eligible Employee
who is eligible to become a Participant may become a Participant by enrolling
in the Plan, or as otherwise provided in Section 2.9(a).

          2.4
Duration.  A person will cease to
be a Participant on the date that his entire nonforfeitable Accrued Benefit
under the Plan has been withdrawn, or upon his death, whichever occurs first.

          2.5
Service.

                    (a)     Except
as otherwise provided in this Article II and in Article XI, an Employee’s
Service will be the sum of (i) the Employee’s Service as of December 31, 2001,
and (ii) the Employee’s years and fractions of a year (expressed in days) as an
Employee after that date until he Severs from Service.

                    (b)     Solely
for purposes of this Section 2.5, if an Employee completes an Hour of
Service before the first anniversary of his Severance from Service, the
Severance from Service will be deemed not to have occurred for purposes of this
Section 2.5.

          2.6
Other Service-Crediting Provisions.

                    (a)     To
the extent determined by a resolution of a Designated Officer, a Participant’s
Service will include his service as an employee of a Predecessor Company if the
Participant was an employee of the Predecessor Company when it became a
Commonly Controlled Entity.

13

                    (b)     Employment
with a Commonly Controlled Entity before the Effective Date will be disregarded
in determining an Employee’s Service if such employment would  have been disregarded under the rules of the
Plan with regards to breaks in service as such rules were in effect under the
Plan from time to time before the Effective Date.

                    (c)     Service
as a “leased employee” within the meaning of Section 414(n) or (o) of the Code
will be credited for any period during which Section 414 of the Code requires the
person to earn Service as a “leased employee.”

          2.7
Authorized Absences.

                    (a)     The
period of an Authorized Absence will be included in determining an Employee’s
Service according to the rules prescribed by this Section 2.7, except to
the extent additional Service is required to be granted by applicable law.  Solely for purposes of determining the
amount of Service that will be credited in accordance with this
Section 2.7, the period of an Employee’s Authorized Absence will be deemed
to end no later than the date on which the Employee’s employment is terminated.

                    (b)     If
an Employee is absent from employment on account of a medical leave of absence
approved by his Employer or if the Employee is receiving benefits under his
Employer’s Sickness and Disability Benefits policy, his Employer’s Occupational
Illness and Injury policy, or his Employer’s Long-Term Disability Program (or
any successors thereto), he will receive Service for the period of his absence
from employment not to exceed a period of 24 months.

                    (c)     If
an Employee is absent from employment on account of a family leave of absence
approved by his Employer, he will receive Service for the period of his absence
from employment up to a maximum period of 12 months. 

                    (d)     If
an Employee is absent from employment for military service with the armed
forces of the United States and returns to employment within the period
required by the Uniformed Services Employment and Reemployment Rights Act of
1994, or any successor statute, he will receive Service for the period of his
absence from employment.
Notwithstanding any provision of the 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. The Administrator may
reasonably request that a Participant demonstrate that he has engaged in
qualified military service within the meaning of Section 414(u) of the Code.

                    (e)     If
an Employee is absent from employment on account of any Authorized Absence
(other than a leave described in subsections (b), (c), or (d), above) approved
by his Employer, he will receive Service for the period of his absence from
employment up to a maximum period of 12 months.

          2.8
Non-duplication.  Notwithstanding
anything to the contrary in this Article II, a Participant will not receive
credit under the Plan for a single period of service more than once for
computing Service.

14

          2.9
Transfer of Accounts Upon Change of Employment Status.

                    (a)     If,
upon a change of employment status, an Employee who is a participant in a
Commonly Administered Plan (other than the BP Savings and Investment Plan)
becomes an Eligible Employee:

                             (1)     such
Eligible Employee will become a Participant in the Plan as of the transfer
date;

                             (2)     his
contribution elections and investment election made under the Commonly
Administered Plan will automatically be treated as his Contribution Election
and Investment Election under this Plan; and

                             (3)     he
can elect to have his accounts under such Commonly Administered Plan
transferred to the corresponding Accounts to be established on his behalf under
this Plan.

                    (b)     Notwithstanding
the foregoing election, the prior investment election of such Participant will
not continue in effect in this Plan if Investment Options in this Plan and the
Commonly Administered Plan are different.
In that case, the Investment Election will be deemed to be (until
changed) the Money Market Fund, and all amounts transferred to this Plan will
be invested initially in the Money Market Fund and then reinvested pursuant to
an Exchange Election made by the Participant, or as otherwise directed by the
Administrator.

                    (c)     If
the status of a Participant changes from Eligible Employee to Employee and such
Participant becomes eligible to participate in a different Commonly
Administered Plan (other than the BP Savings and Investment Plan), at his
election his Accounts (and the Investment Options in which those Accounts are
invested) under this Plan will be transferred to the corresponding accounts
(and investment options) to be established on his behalf under such Commonly
Administered Plan, subject to the terms of such Commonly Administered
Plan.  

          2.10     Transfer
of Accounts Upon Outsourcing.  If a
Participant ceases to be an Eligible Employee because his employment function
has been outsourced to a Contractor Firm, the Administrator may provide for, or
cause, the Accounts of such Eligible Employee to be transferred to a plan of
the Contractor Firm that is intended to be qualified under Section 401(a)
of the Code in a transfer that complies with the requirements of
Sections 411(d)(6) and 414(l) of the Code.

15

ARTICLE III

CONTRIBUTIONS

          3.1
Before-Tax Contributions.

                    (a)     Any
Participant who is an Eligible Employee may elect to have Before-Tax
Contributions made to the Plan by his Employer in an integral percentage of his
Compensation of not less than 1 percent nor more than 100 percent; provided,
however, that in no event may the percentage of the After-Tax
Contributions of a Participant, when added to the percentage of Before-Tax
Contributions, if any, made on his behalf equal less than 1 percent or more
than 100 percent of his Compensation.
The Compensation of such Participant will be reduced by the percentage
elected under the Contribution Election in effect for such Participant; provided,
however, that no Before-Tax Contributions made with respect to a
year on behalf of a Participant may exceed the limitations set forth in Article
IV.  With respect to each applicable
payroll period, the Employer will contribute as soon as reasonably possible, an
amount to the Trust equal to the Participant’s Before-Tax Contributions for such
payroll period and the Administrator will cause such amount to be allocated and
posted to the Participant’s Before-Tax Account.

                    (b)     Subject
to the right of any Participant who attains age 50 before the close of the
relevant Plan Year to make additional Before-Tax Contributions as catch-up
contributions pursuant to Section 4.9, if the Contribution Dollar Limit
prevents the Employer from making Before-Tax Contributions on behalf of a
Participant, the Participant will be deemed to have elected to make an
After-Tax Contribution pursuant to Section 3.2 with respect to Before-Tax
Contributions the Employer was prevented from making; provided, however, that no
such After-Tax Contributions made with respect to a year on behalf of a
Participant may exceed the limitations set forth in Article IV.

          3.2
After-Tax Contributions.  Any
Participant who is an Eligible Employee may elect to make After-Tax
Contributions to the Plan by payroll deduction in an integral percentage of his
Compensation of not less than 1 percent nor more than 100 percent; provided,
however, that in no event may the percentage of the After-Tax
Contributions of a Participant, when added to the percentage of Before-Tax
Contributions, if any, made on his behalf equal less than 1 percent or more
than 100 percent of his Compensation.
Any payroll deduction with respect to After-Tax Contributions will be
made from the Compensation of a Participant by his Employer in accordance with
the terms of the Contribution Election in effect for such Participant; provided,
however, that no After-Tax Contributions made with respect to a year
on behalf of a Participant may exceed the limitations set forth in Article
IV.  With respect to each applicable
payroll period, the Employer will contribute as soon as reasonably possible, an
amount to the Trust equal to the Participant’s After-Tax Contributions for such
payroll period and the Administrator will cause such amount to be allocated and
posted to the Participant’s After-Tax Account.

          3.3
Match Contributions.  With respect
to each applicable payroll period, the Employer will contribute as soon as
reasonably possible to the Trust as a Match Contribution for investment in the
Company Stock Fund an amount that is equal to 100 percent of the sum of the

16

After-Tax and Before-Tax Contributions, not in excess
of 7 percent of Compensation, made on behalf of, or by, each Participant during
such payroll period; provided, however, that no Match
Contributions made with respect to a year on behalf of a Participant may exceed
the limitations set forth in Article IV.
Match Contributions made on behalf of a Heritage Amoco Participant will
be allocated and posted to such Participant’s Heritage Amoco Match Account and
Match Contributions made on behalf of any other Participant will be allocated
and posted to such Participant’s BP Match Account.  Company Match Contributions will be made in the sole discretion
of the Company in the form of cash or Company Stock.

          3.4
Rollover Contributions. 

                    (a)     Any
Eligible Employee may elect to make a Rollover Contribution to the Plan by
delivering, or causing to be delivered, to the Plan the assets in cash which
constitute such Rollover Contribution, provided that such Rollover Contribution
meets such conditions as the Administrator may establish.  Upon receipt by the Trustee, such assets
will be invested in the Investment Options described in Article VI, in
accordance with the Participant’s Investment Election with respect to such
Rollover Contributions.  The Trustee will
then allocate and post to the Rollover Account of such Participant the amount
of such Rollover Contribution.  No
Rollover Contribution by an Eligible Employee pursuant to this Section 3.4
will be deemed to be a contribution of such Eligible Employee for purposes of
Article IV.

                    (b)     If
it is later determined that an amount transferred pursuant to subsection (a),
above, did not in fact qualify as a Rollover Contribution, the balance
allocated to the Employee’s Rollover Account will immediately be: (i)
segregated from all other Plan assets; (ii) treated as a non-qualified trust
established by and for the benefit of the Employee; and (iii) distributed to
the Employee, as adjusted for earnings and losses.  Any such nonqualifying rollover will be deemed never to have been
a part of the Plan.

                    (c)     A
Participant who is entitled to receive a lump sum distribution from a qualified
plan described in Section 401(a) of the Code maintained by an Employer as
the result of separation of employment or retirement from a Commonly Controlled
Entity may elect to have such lump sum distribution deposited into his Rollover
Account under the Plan.  Such Rollover
Contribution must be made in accordance with procedures that may be specified
by the Administrator.

          3.5
Election Procedures.

                    (a)     A
Participant’s election to make Before-Tax Contributions and After-Tax
Contributions will continue in effect (with automatic adjustment for any change
in his Compensation) until changed or terminated pursuant to procedures
established by the Administrator, suspended under the terms of this Plan, or
until the Participant ceases to be paid as an Eligible Employee.

                    (b)     In
the event of a mistake by either the Employer or the Administrator regarding
the amount of a Participant’s Before-Tax Contributions or After-Tax
Contributions during a Plan Year, the Employer may permit, in its sole
discretion, contributions in excess of

17

the 100 percent limit set forth in Sections 3.1 and
3.2 to be made for 1 or more payroll periods during such Plan Year, but only to
the extent required for such contributions for the Plan Year to equal what they
would have been in the absence of the mistake. 

                    (c)     A
Participant’s election to make Before-Tax Contributions and After-Tax
Contributions may be limited pursuant to procedures established by the
Administrator for purposes of complying with any tax, deferral or other
withholding obligations or elections with respect to such Participant’s
Compensation.

18

ARTICLE
IV

LIMITATION
ON CONTRIBUTIONS

          4.1
Limit on Before-Tax Contributions.
The aggregate elective deferrals (as defined in Section 402(g)(3)
of the Code) made on behalf of each Participant under the Plan for any Plan
Year will not exceed:

                    (a)     the
Contribution Dollar Limit, reduced by:

                    (b)     the
sum of any of the following amounts that were contributed on behalf of the
Participant for the Plan Year under a plan, contract, or arrangement other than
this Plan:

                              (1)     any
employer contribution under a qualified cash or deferred arrangement (as
defined in Section 401(k) of the Code) to the extent not includable in the
Participant’s gross income for the taxable year under Section 402(e)(3) of
the Code (determined without regard to Section 402(g) of the Code);

                              (2)     any
employer contribution to the extent not includable in the Participant’s gross
income for the taxable year under Section 402(h)(1)(B) of the Code
(determined without regard to Section 402(g) of the Code);

                              (3)     any
employer contribution to purchase an annuity contract under Section 403(b)
of the Code under a salary reduction agreement (within the meaning of
Section 3121(a)(5)(D) of the Code); and

                              (4)     any
elective employer contribution under Section 408(p)(2)(A)(i) of the Code;

provided that no contribution described in this
subsection (b) will be taken into account for the purpose of reducing the
dollar limit in subsection (a), above, if the plan, contract, or arrangement is
not maintained by a Commonly Controlled Entity unless the Participant has filed
a notice with the Administrator not later than March 15 of the next Plan Year
regarding such contribution.

          4.2
Actual Deferral Percentage Test.

                    (a)     The
Plan will satisfy the actual deferral percentage test set forth in
Section 401(k)(3) of the Code and Treasury Regulation §1.401(k)-1(b), the
provisions of which (and any subsequent Internal Revenue Service guidance
issued thereunder) are incorporated herein by reference (including, at the
election of the Employer, the making of qualified nonelective contributions, as
defined in Section 401(m)(4)(C) of the Code, to be treated as Before-Tax
Contributions hereunder), each as modified by subsection (b), below.  In accordance with Section 401(k)(3) of
the Code and Treasury Regulation §1.401(k)-1(b), as modified by subsection (b),
below, the actual deferral percentage for HCEs for any Plan Year will not
exceed the greater of:

19

                              (1)     the
actual deferral percentage for NHCEs for the current Plan Year multiplied by
1.25, or

                              (2)     the
lesser of (i) the actual deferral percentage for NHCEs for the current Plan
Year multiplied by 2 and (ii) the actual deferral percentage for NHCEs for the
current Plan Year plus 2%.

                    (b)     In
performing the actual deferral percentage test described in subsection (a),
above, the following special rules will apply:

                              (1)     the
deferral percentages of Participants who are covered by an agreement that the
Secretary of Labor finds to be a collective bargaining agreement between
employee representatives and an Employer will be disaggregated from the
deferral percentages of other Participants and the provisions of this
Section 4.2 will be applied separately with respect to each group.

                              (2)     Employees
who have not become eligible to become Participants will be disregarded in
applying this Section 4.2.

                              (3)     The
Administrator may permissively aggregate the Plan with other plans to the
extent permitted under Treasury Regulation §1.401(k)-1.

          4.3
Actual Contribution Percentage Test.

                    (a)     The
Plan will satisfy the actual contribution percentage test set forth in
Section 401(m)(2) of the Code and Treasury Regulation §1.401(m)-1(b), the
provisions of which (and any subsequent Internal Revenue Service guidance
issued thereunder) are incorporated herein by reference (including, at the
election of the Employer, the making of qualified nonelective contributions, as
defined in Section 401(m)(4)(C) of the Code, to be treated as Before-Tax
Contributions hereunder), each as modified by subsection (b), below. In
accordance with Section 401(m)(2) of the Code and Treasury Regulation
§1.401(m)-1(b), as modified by subsection (b), below, the actual contribution
percentage for HCEs for any Plan Year will not exceed the greater of:

                              (1)     the
actual contribution percentage for NHCEs for the current Plan Year multiplied
by 1.25, or

                              (2)     the
lesser of (i) the actual contribution percentage for NHCEs for the current Plan
Year multiplied by 2 and (ii) the actual contribution percentage for NHCEs for
the current Plan Year plus 2%.

                    (b)     In
performing the actual contribution percentage test described in subsection (a),
above, the following special rules will apply:

                              (1)     the
limit imposed by the actual contribution percentage test will apply only to
HCEs and NHCEs who are not covered by an agreement that the Secretary of 

20

Labor finds to be a collective bargaining agreement
between employee representatives and an Employer;

                              (2)     Employees
who have not become eligible to become Participants will be disregarded in
applying this Section 4.3.

                              (3)     The
Administrator may permissively aggregate the Plan with other plans to the
extent permitted under Treasury Regulation §1.401(m)-1.

          4.4
Prohibition on Multiple Use.  For
Plan Years beginning prior to January 1, 2002, the Plan will not violate the
prohibition against multiple use of the alternative methods of compliance with
Sections 401(k) and (m) of the Code. The prohibition is set forth in
Section 401(m)(9) of the Code and Treasury Regulation §1.401(m)-2, the
provisions of which (and any subsequent Internal Revenue Service guidance
issued thereunder) are incorporated herein by reference, and will be applied
using the current year testing method; provided that:

                    (a)     the
limit imposed by the multiple use test will apply only to HCEs and NHCEs who
are not covered by an agreement that the Secretary of Labor finds to be a
collective bargaining agreement between employee representatives and an
Employer;

                    (b)     the
multiple use test will be applied after taking into account the modifications
to the actual deferral percentage test and the actual contribution percentage
tests made by Sections 4.2(b) and 4.3(b); and

                    (c)     Employees
who have not become eligible to become Participants will be disregarded in
applying this Section 4.4.

          4.5
Maximum Contributions.

                    (a)     In
addition to any other limitation set forth in the Plan and notwithstanding any
other provision of the Plan, in no event will the annual additions allocated to
a Participant’s Account under the Plan, together with the aggregate annual
additions allocated to the Participant’s accounts under all other defined
contribution plans required to be aggregated with the Plan under the provisions
of Section 415 of the Code, exceed the maximum amount permitted under
Section 415 of the Code, the provisions of which are incorporated herein
by reference.

                    (b)     If
the limitations imposed by this Section 4.5 apply to a Participant who is
entitled to annual additions under one or more tax-qualified plans with which
the Plan is aggregated for purposes of Section 415 of the Code, the annual
additions under the Plan and such other plan or plans will be reduced in the
following order, to the extent necessary to prevent the Participant’s benefits
and/or annual additions from exceeding the limitations imposed by this Section:

                              (1)     All
other defined contribution plans in which the Participant participated and with
which the Plan is aggregated for purposes of Section 415 of the Code, in
an 

21

order based on the reverse chronology of the annual
additions to the plans, beginning with the last annual addition and ending with
the first annual addition; and

                              (2)     the
Plan.

          4.6
Imposition of Limitations.
Notwithstanding anything contained in the Plan to the contrary, the
Administrator may, in his sole discretion, limit the amount of a Participant’s
Before-Tax Contributions and After-Tax Contributions during a Plan Year to the
extent that he determines that the imposition of such a limit is necessary or
appropriate to ensure that the Plan will satisfy the requirements of this
Article.  Any such limitation may be
imposed on a Participant at any time and without advance notice to the
Participant, and regardless of whether the Participant is covered by a
collective bargaining agreement between employee representatives and an Employer.  The Administrator can impose limitations
beyond those that are absolutely necessary to satisfy the requirements of this
Article and may, in his sole discretion, impose more restrictive limitations
that are designed to enable the Plan to satisfy those requirements by a
reasonable margin.  Notwithstanding
anything contained in the Plan to the contrary, in the event that the
Contributions to be allocated to a Participant for a particular payroll period
would cause the limitations of Section 4.5 to be exceeded with respect to a
Participant, the Match Contributions which otherwise would be made with respect
to such Participant for such period will be first reduced or eliminated so that
the limitations of Section 4.5 are not exceeded.

          4.7
Return of Excess Annual Additions, Deferrals and Contributions.

                    (a)     If
a Participant’s Before-Tax Contributions or After-Tax Contributions cause the
annual additions allocated to a Participant’s Account to exceed the limit
imposed by Section 4.5, such excess contributions (plus or minus any gains or
losses thereon) will be returned to the Participant in the following order: (i)
After-Tax Contributions for which no Match Contributions were made; (ii)
Before-Tax Contributions for which no Match Contributions were made; (iii)
After-Tax Contributions for which Match Contributions were made; and (iv)
Before-Tax Contributions for which Match Contributions were made.  Contributions returned pursuant to this
subsection (a) will be disregarded in applying the limits imposed by Sections
4.1 through 4.4.

                    (b)     After
any excess annual additions (plus or minus any gains or losses thereon) with
respect to a Plan Year have been distributed as provided in subsection (a),
above, if a Participant’s aggregate elective deferrals (as defined in
Section 402(g)(3) of the Code) with respect to a Plan Year exceed the
Contribution Dollar Limit, the following rules will apply to such excess (the
Participant’s “excess deferrals”):

                              (1)     Not
later than the first January 31 following the close of the Plan Year, the
Participant may allocate to the Plan all or any portion of the Participant’s
excess deferrals for the Plan Year (provided that the amount of the excess deferrals
allocated to the Plan will not exceed the amount of the Participant’s
Before-Tax Contributions to the Plan for the Plan Year that have not been
withdrawn or distributed) and will notify the Administrator of any amount
allocated to the Plan.

22

                              (2)     If
excess deferrals have been made to this Plan, or any other plan maintained by a
Commonly Controlled Entity, on behalf of a Participant for a Plan Year, the
Participant will be deemed to have allocated such excess deferrals to the Plan
pursuant to subsection (b)(1), above, and the Plan will distribute such excess
deferrals pursuant to subsection (b)(3), below.

                              (3)     As
soon as practicable, but in no event later than the first April 15th following
the close of the Plan Year, the Plan will distribute to the Participant the
amount allocated or deemed allocated to the Plan under subsection (b)(1) or
(b)(2), above (plus or minus any gains or losses thereon). The distribution
described in this subsection (b)(3) will be made notwithstanding any other
provision of the Plan.

                    (c)     After
any excess annual additions (plus or minus any gains or losses thereon) with
respect to a Plan Year have been distributed as provided in subsection (a),
above, after any excess deferrals (plus or minus any gains or losses thereon)
with respect to a Plan Year have been distributed as provided in subsection
(b), above, and after any action pursuant to Section 4.6 with respect to the
Plan Year has been taken, if the actual deferral percentage for the Plan Year
of HCEs exceeds the limit imposed by Section 4.2, the following rules apply:

                              (1)     (A)     The
amount of the excess contributions (determined in accordance with Section 401(k)(8)(B)
of the Code and subparagraph (3), below), plus or minus any gains or losses
thereon (including, in the discretion of the Administrator, gains or losses
attributable to the “gap period” within the meaning of Treasury Regulation §1.401(k)-1(f)(4)),
will be distributed to HCEs, beginning with the HCE with the highest dollar
amount of Before-Tax Contributions for the Plan Year in an amount required to
cause that HCE’s Before-Tax Contributions to equal the dollar amount of the
Before-Tax Contributions of the HCE with the next highest dollar amount of
Before-Tax Contributions (or in such lesser amount that is equal to the total
amount of excess contributions). The process described in the preceding
sentence will continue until the reduction equals the total excess
contributions made to the Plan.

                                        (B)     The
distribution described in subparagraph (A), above, will be made as soon as
practicable, but in no event later than the close of the Plan Year following
the close of the Plan Year with respect to which the excess contributions were
made.

                                        (C)     The
gains or losses on excess contributions will be determined by multiplying the
total annual earnings (positive or negative) for the Plan Year in the
Participant’s Before-Tax Account by the following fraction:

                                                  (i)      The
numerator of the fraction will be the amount of the excess contributions.

                                                  (ii)     The
denominator of the fraction will be the value of the Participant’s Before-Tax
Account as of the last day of the Plan Year (or at the end of the gap period,
if elected by the Company), reduced by any positive earnings (or increased by
any negative earnings) credited to the Participant’s Before-Tax Account for the
Plan Year (and for the gap period, if elected by the Company).

23

Notwithstanding the preceding provisions of this
subparagraph (C), in the discretion of the Administrator, the gains and losses
on excess contributions will be determined in accordance with any method
permitted under the Code and the applicable Treasury Regulations.

                              (2)     In
accordance with Treasury Regulations, the Administrator may elect, in his sole
discretion, to treat as an After-Tax Contribution the amount of the excess
contributions attributable to a Participant who is an HCE, except to the extent
that such After-Tax Contribution would cause the Plan to exceed (or to continue
to exceed) the contribution percentage limit imposed by Section 4.3 or to
violate (or to continue to violate) the prohibition against multiple use
imposed by Section 4.4.

                              (3)     The
excess contributions to the Plan will be determined in accordance with
Section 401(k)(8)(B) of the Code by performing the hypothetical
calculation described in this subparagraph (3). The actual deferral percentage
of the HCE with the highest individual actual deferral percentage will be
reduced to the extent necessary to cause his actual deferral percentage to
equal the actual deferral percentage of the HCE with the second highest
individual actual deferral percentage (or, if it would result in a lesser
reduction, to the extent necessary to cause the Plan to satisfy the actual
deferral percentage test under Section 4.2). The excess contribution to the
Plan is the amount by which the Before-Tax Contributions of the HCE with the
highest individual actual deferral percentage would have been reduced after the
hypothetical reduction in actual deferral percentage described in the preceding
sentence. This process will continue until no excess contributions remain.

The distribution described in subparagraph (1), above,
will be made notwithstanding any other provision of the Plan. The amount
distributed pursuant to subparagraph (1), above, or recharacterized pursuant to
subparagraph (2), above, for a Plan Year with respect to a Participant will be
reduced by any excess deferral previously distributed from the Plan to such
Participant for the Participant’s taxable year ending with or within such Plan
Year.

                    (d)     If
a Participant’s Before-Tax Contributions or After-Tax Contributions (plus or
minus any gains or losses thereon) are returned to him pursuant to the
provisions of this Section 4.7, any Match Contributions (plus or minus any
gains or losses thereon) with respect to such returned Before-Tax Contributions
or After-Tax Contributions will be immediately forfeited. Any such forfeitures
will be applied to reduce the Company’s obligation to make Match Contributions
pursuant to Article III.

                    (e)     After
any excess deferrals (plus or minus any gains or losses thereon), and any
excess contributions (plus or minus any gains or losses thereon), with respect
to a Plan Year have been distributed and/or re-characterized, in accordance
with subsections (a), (b), (c), and (d), above, and after any action pursuant
to Section 4.6 with respect to the Plan Year has been taken, if the
contribution percentage for the Plan Year of HCEs exceeds the actual
contribution percentage limit imposed by Section 4.3, the following rules will
apply:

                              (1)     (A)     The
amount of the excess aggregate contributions for the Plan Year (determined in
accordance with Section 401(m)(6)(B) of the Code and subparagraph (3),
below), plus or minus any gains or losses thereon (including, in the discretion
of the

24

Company, gains or losses attributable to the “gap period”
within the meaning of Treasury Regulation §1.401(m)-1(e)(3)), will be
distributed (or, if forfeitable, will be forfeited) as soon as practicable and
in any event before the close of the Plan Year following the close of the Plan
Year with respect to which the excess aggregate contributions were made.

                                        (B)     The
gains or losses on excess aggregate contributions will be determined by
multiplying the total annual earnings (positive or negative) for the Plan Year
in the Participant’s After-Tax and Match Accounts by the following fraction:

                                                  (i)      The
numerator of the fraction will be the amount of the excess aggregate
contributions.

                                                  (ii)     The
denominator of the fraction will be the value of the Participant’s After-Tax
and Match Accounts as of the last day of the Plan Year (or at the end of the
gap period, if elected by the Company), reduced by any positive earnings (or
increased by any negative earnings) credited to the Participant’s After-Tax and
Match Accounts for the Plan Year (and for the gap period, if elected by the
Company).

Notwithstanding the preceding provisions of this
subparagraph (B), in the discretion of the Administrator, the gains and losses
on excess contributions will be determined in accordance with any method
permitted under the Code and the applicable Treasury Regulations.

                              (2)     Any
distribution in accordance with subparagraph (1), above, will be made to HCEs,
beginning with the HCE with the highest dollar amount of After-Tax
Contributions and Match Contributions for the Plan Year in an amount required
to cause that HCE’s After-Tax Contributions and Match Contributions to equal
the dollar amount of the After-Tax Contributions and Match Contributions of the
HCE with the next highest dollar amount of After-Tax Contributions and Match
Contributions (or in such lesser amount that is equal to the total amount of
excess aggregate contributions). This process will continue until the reduction
equals the total excess aggregate contributions made to the Plan. Such
distributions will be made notwithstanding any other provision of the Plan.

                              (3)     The
excess aggregate contributions to the Plan will be determined in accordance
with Section 401(m)(6)(B) of the Code by performing the hypothetical
calculation described in this subparagraph (3). The actual contribution
percentage of the HCE with the highest individual actual contribution
percentage will be reduced to the extent necessary to cause his actual
contribution percentage to equal the actual contribution percentage of the HCE
with the second highest individual actual contribution percentage (or, if it
would result in a lesser reduction, to the extent necessary to cause the Plan
to satisfy the actual contribution percentage under Section 4.3). The excess
aggregate contribution to the Plan is the amount by which the After-Tax
Contributions and Match Contributions on behalf of the HCE with the highest
individual actual contribution percentage would have been reduced after the
hypothetical reduction in actual contribution percentage described in the
preceding sentence. This process will continue until no excess aggregate
contributions remain.

25

The determination of the excess aggregate
contributions under this subsection (e) for any Plan Year will be made after
taking the measures called for by the preceding subsections of this Section
4.7.

                    (f)     For
Plan Years beginning prior to January 1, 2002, if after all the actions
required or permitted by Section 4.6 and the preceding provisions of this
Section 4.7 have been taken, the Before-Tax Contributions, After-Tax
Contributions, and Match Contributions of HCEs cause the Plan to violate the
prohibition against multiple use imposed by Section 4.4, the contribution
percentage of such HCEs will be reduced to the extent necessary to cause the
Plan to comply with that prohibition, and the excess aggregate contributions
will be distributed (or, if forfeitable, will be forfeited) in the manner
described in subsection (e), above.

          4.8
Incorporation by Reference.  Each
incorporation by reference in this Article IV of the provisions of Sections 401(k)(3),
(m)(2), (m)(9) and 415, and the specific underlying regulations thereunder,
includes this incorporation by reference to any subsequent Internal Revenue
Service guidance issued thereunder. 

          4.9
Catch-Up Contributions.
Notwithstanding anything in this Plan to the contrary, with respect to
Contributions for Plan Years beginning after December 31, 2001, all Eligible
Employees who attain age 50 before the close of the relevant Plan Year will be
eligible to make additional Before-Tax Contributions as catch-up contributions
in accordance with, and subject to the limitations of, Section 414(v) of the
Code, the provisions of which are hereby incorporated herein by reference.  Such catch-up contributions will not be
taken into account for purposes of the provisions of the Plan implementing the
required limitations of Sections 402(g) and 415 of the Code, and will not be
subject to the requirements of Section 4.7.
The Plan will not be treated as failing to satisfy the provisions of the
Plan implementing the requirements of Section 401(k)(3), 410(b) or 416 of the
Code by reason of the making of such catch-up contributions. 

          4.10
Definition of Compensation.  For
Plan Years and limitation years beginning on and after January 1, 2001, for
purposes of applying the limitations described in this Article IV, compensation
paid or made available during such Plan Year or limitation year will include
elective amounts that are not included in gross income of the Employee by
reason of Section 132(f) of the Code.
This provision will also apply for purposes of Section 1.52 and Article
XVII of the Plan.

26

ARTICLE
V

ACCOUNTING
FOR PARTICIPANTS’

ACCOUNTS AND FOR INVESTMENT OPTIONS

          5.1
Individual Participant Accounting.

                    (a)     Account Maintenance.  The Administrator will cause the Accounts
for each Participant to reflect transactions involving Contributions and other
allocations thereto, loans, earnings, losses, withdrawals, distributions and
expenses to be allocated and posted to the Accounts in accordance with the
terms of this Plan.  Financial
transactions during or with respect to an Accounting Period will be accounted
for at the individual Account level by allocating and posting each transaction
to the Account as of a Trade Date.  At
any point in time, the value of a Participant’s Accrued Benefit will be equal
to the sum of the aggregate of the following amounts determined under (1), (2)
and (3) with regard to each Investment Option:

                              (1)     the
(A) Unit Values for the portion of his Accounts invested in each Investment
Options under 5.2(a) multiplied by (B) the number of full and fractional units
for each such Investment Option posted to his Accounts;

                              (2)     the
(A) fair market value for the shares for the portion of his Accounts invested
in each Investment Option under 5.2(b) multiplied by (B) the number of full and
fractional shares for each such Investment Option posted to his Accounts; and

                              (3)     the
fair market value of any other assets of the Trust Fund (exclusive of assets
described in (1) and (2)) in which a portion of his Accounts is invested or
held.

                    (b)     Trade
Date Accounting and Investment Cycle.
For any transaction to be processed as of a Trade Date, the
Administrator must receive instructions by the Sweep Time and such instructions
will apply only to amounts held in and posted to the Accounts as of the Trade
Date.  Except as otherwise provided herein,
all transactions will be effected on the Trade Date relating to the Sweep Time
(or as soon thereafter as is administratively possible).

                    (c)     Suspension
of Transactions.  Whenever the
Administrator considers such action to be in the best interest of the
Participants, the Administrator in its discretion may suspend from time to time
the Trade Date or reset the Sweep Time.

                    (d)     How
Fees and Expenses are Charged to Accounts.
Account maintenance fees will be charged to Accounts (to the extent such
fees are not paid by the Employer), provided that no fee will reduce an Account
balance below zero.  Transaction type
fees (such as loan set-up fees, etc.) will be charged to the Accounts involved
in the transaction as determined pursuant to procedures adopted by the
Administrator.  Fees and expenses
incurred for the management and maintenance of Investment Options will be
charged at the Investment Option level and reflected in the net gain or loss of
each Investment Option to the extent not paid by the Employer.

27

                    (e)     Error
Correction.  The Administrator may
correct any errors or omissions in the administration of the Plan by crediting
or charging any Account with the amount that would have been allocated,
credited or charged to the Account had no error or omission been made.  Funds necessary for any such crediting will
be provided through payment made by the Administrator, or, if the Administrator
was not responsible for such error or omission, through payment by the
Employer.

          5.2
Accounting for Investment Options.

                    (a)     Unit
Accounting.  The investments in each
Investment Option designated by the Administrator as subject to unit accounting
will be maintained in full and fractional units.  The Administrator is responsible for determining the number of
full and fractional units of each such Investment Option.

                    (b)     Share
Accounting.  The investments in each
Investment Option designated by the Administrator as subject to share
accounting will be maintained in full and fractional shares.  The Administrator is responsible for
determining the number of full and fractional shares of each such Investment
Option.

          5.3
Accounts for Beneficiaries and Alternate Payees.  A separate Account will be established for
any Beneficiary entitled to any portion of a deceased Participant’s Account,
and for an Alternate Payee as of the date and in accordance with the directions
specified in the QDRO.  Such Account
will be valued and accounted for in the same manner as any other Account.  Beneficiaries and Alternate Payees will be
treated as Participants to the extent provided as follows:

                    (a)     Exchange
Election.  A Beneficiary or an Alternate
Payee may direct or exchange the investment of such Account in the same manner
as a Participant.

                    (b)     Withdrawals
and Forms of Payment.  Payment to a
Beneficiary may be made as provided herein.
An Alternate Payee will receive payment of the amount specified in the
QDRO as soon as administratively possible, regardless of whether the
Participant is an Employee, unless the QDRO specifically provides that payment
be delayed, including at the election of the Alternate Payee.  Payment may be made in the same forms as are
available to the Participant with respect to whom the QDRO has been obtained,
to the extent provided in the QDRO.

                    (c)     Participant
Loans.  A Beneficiary or an
Alternate Payee will not be entitled to borrow from his Account.  If a QDRO specifies that the Alternate Payee
is entitled to any portion of the Account of a Participant who has an
outstanding loan balance, all outstanding loans will continue to be held in the
Participant’s Account and will not be divided between the Participant’s and
Alternate Payee’s Accounts.

                    (d)     Beneficiary.
 A Beneficiary or an Alternate Payee (to the
extent provided for in the QDRO) may designate a Beneficiary in the same manner
as a Participant.

28

          5.4
Transition Rules.  The
Administrator may adopt such procedures, including imposing “transition”
periods, as are necessary to accommodate any plan mergers, Investment Option or
accounting changes or events, or similar events as it determines are necessary
for the proper administration of the Plan.

29

ARTICLE
VI

INVESTMENT
OPTIONS AND ELECTIONS

          6.1
Investment of Contributions.

                    (a)     Investment
Election.  Each Participant may
direct the Administrator, by submission to the Administrator of an Investment
Election, to invest Contributions (and loan repayments) posted to his Accounts
and other amounts allocated and posted to the Participant’s Account in one or
more Investment Options; provided, however, that a separate
Investment Election is required for Rollover Contributions.  Notwithstanding the above, Match
Contributions will be invested directly in the Company Stock Fund.  In the absence of an Investment Election,
Before-Tax Contributions, After-Tax Contributions and Rollover Contributions
(and loan repayments) will be invested in the Money Market Fund.

                    (b)     Effective
Date of Investment Election; Change of Investment Election.  A Participant’s initial Investment Election
will be effective with respect to an Investment Option on the Trade Date which
relates to the Sweep Time on which or prior to which the Investment Election is
received and not revoked pursuant to procedures specified by the Administrator.  A Participant’s Investment Election will
continue in effect, notwithstanding any change in his Compensation or his
Contribution Percentage, until the earliest of: (1) the effective date of
a new Investment Election; or (2) the date he ceases to be a Participant.  A change in Investment Election will be
effective with respect to an Investment Option as soon as administratively
possible after the date the Administrator receives the Participant’s new
Investment Election.  

          6.2
Investment of Accounts.

                    (a)     Exchange
Election.  Notwithstanding a
Participant’s Investment Election, a Participant may direct the Administrator,
by submission of an Exchange Election to the Administrator, to change the
investment of his Accounts between 2 or more Investment Options, on a pro rata
basis with respect to each of the Participant’s Accounts (exclusive of the
Participant’s loans).

                    (b)     Effective
Date of Exchange Election.
An Exchange Election to change a Participant’s investment of his
Accounts in one Investment Option to another Investment Option will be
effective with respect to such Investment Options on the Trade Date(s) which
relates to the Sweep Time on which or prior to which the Exchange Election is
received and not revoked pursuant to procedures specified by the
Administrator.  Notwithstanding the
foregoing, and except as provided in Section 12.1 below, an Exchange Election
made with respect to the Account balance of a Participant who dies on or after
the Effective Date will not be valid if it is made after such time that is
established by the Administrator following the date the Administrator is
notified of such Participant’s death.

                    (c)     Delayed
Effective Date.  Notwithstanding any
provision of this Section 6.2 to the contrary, if the sell portion of an
Exchange Election can not be processed due to a problem in the market, a
liquidity shortage in an Investment Option or disruption of other sell or 

30

buy orders in another Investment Option, the buy
portion of the Exchange Election will not be processed on a Trade Date until
the sell transaction can be processed.

          6.3
Investment Options.  The Plan’s
Investment Options are indicated in Appendix 1.58.  In addition, a Designated Officer may, from time to time, as directed
by the Investment Committee:

                    (a)     limit
or freeze investments in, or transfers from, an Investment Option;

                    (b)     add
funding vehicles thereunder;

                    (c)     liquidate,
consolidate or otherwise reorganize an existing Investment Option; or 

                    (d)     add
new Investment Options to, or delete Investment Options from, Appendix 1.58.

          6.4
Transition Rules.  Effective as
of the date designated by the Designated Officer on which any Investment Option
is addressed under Section 6.3, each Participant will have the opportunity to
make new Investment Elections and Exchange Elections to the Administrator no
later than the applicable Sweep Time.
The Administrator may take such action as the Administrator deems
appropriate, including, but not limited to:

                    (a)     using
any reasonable accounting methods in performing his duties during the period of
transition; 

                    (b)     designating
into which Investment Option a Participant’s Accounts or Contributions will be
invested;

                    (c)     establishing
the method for allocating net investment gains or losses and the extent, if
any, to which amounts received by and distributions paid from the Trust during
this period share in such allocation;

                    (d)     investing
all or a portion of the Trust’s assets in a short-term, interest-bearing
Investment Option during such transition period; 

                    (e)     delaying
any Trade Date during a designated transition period or changing any Sweep Time
or Valuation Time during such transition period; or

                    (f)     designating
how and to what extent a Participant’s Investment Election Exchange Election
will apply to Investment Options.

          6.5
Restricted Investment Options.
Notwithstanding anything contained herein to the contrary: (a) a
Participant may not direct investment of future Contributions or loan
repayments in, or direct transfer of any portion of his Account balance into
the Income Fund; (b) purchases and sales in the Company Stock Fund will be
restricted for Participants subject to applicable statutory, stock exchange or
Company trading restrictions; and (c) amounts invested hereunder

31

will be subject to such restrictions as may be imposed
by (i) the issuer of securities to an Investment Option, or (ii) the
investment manager or advisor of such Investment Option.

          6.6
Risk of Loss.  Neither the Plan
nor the Company guarantees that the fair market value of the Investment
Options, or of any particular Investment Option, will be equal to or greater
than the amounts invested therein.
Neither the Plan nor the Company guarantees that the value of the
Accounts will be equal to or greater than the Contributions allocated
thereto.  Except as required pursuant to
ERISA, each Participant will have sole responsibility for the investment of his
Accounts and for transfers among the available Investment Options, and no
fiduciary, or other person will have any liability for any loss or diminution
in value resulting from any Participants’ exercise of, or failure to
exercise,  such investment
responsibility.  Each Member assumes all
risk of any decrease in the value of the Investment Options and the Accounts.  The Plan is intended to constitute a plan
described in Section 404(c) of ERISA.

          6.7
Interests in the Investment Options.
No Member will have any claim, right, title, or interest in or to any
specific assets of any Investment Option until distribution of such assets is
made to such Member.  No Member will
have any claim, right, title, or interest in or to the Investment Option,
except as and to the extent expressly provided herein.

          6.8
Sole Source of Benefits.  Members
may only seek payment of benefits under the Plan from the Trust, and except as
otherwise required by law, the Employer assumes no responsibility or liability
therefor.

          6.9
Alternate Payees and Beneficiaries.
See Section 5.3 for the treatment of Alternate Payees and
Beneficiaries as Participants for purposes of this Article VI.

32

ARTICLE
VII

VESTING
AND FORFEITURES

          7.1
Vesting in Match Account.  Except
as provided in Section 7.2, an Active Participant will be 100 percent
vested in his Match Account if:

                    (a)     he
is credited with at least 3 years of Service;

                    (b)     he
attains age 65;

                    (c)     he
is declared mentally incompetent or becomes permanently and totally disabled;

                    (d)     he
dies;

                    (e)     his
employment with each Commonly Controlled Entity is terminated:

                              (1)     and
such termination is involuntary and results from the sale or other disposition
of all or part of an Employer to a person or entity which is not a Commonly
Controlled Entity;

                              (2)     under
the terms of (A) a written voluntary or involuntary severance plan of general
application duly adopted by the Company or (B) a separation agreement between
the Participant and an Employer; or

                              (3)     the
Participant’s employment function has been outsourced to a Contractor Firm
pursuant to a contract between the Contractor Firm and an Employer;

                    (f)     as
described in Section 11.1(a), he was ever 100% vested in his Match Account; or

                    (g)     as
of the close of business on December 31, 2001, he (1) was eligible to
participate in, or (2) participated in, and had an account balance under, ARCO
CAP, CH-20 CAP or Vastar CAP.

          7.2
Vesting in Heritage Amoco Match Account.

                    (a)     A
Participant with a Heritage Amoco Match Account who does not have a
nonforfeitable interest in such Account in accordance with Section 7.1, above,
will have a nonforfeitable interest in a portion of such Account as determined
in accordance with the following schedule:

	
 

	
 

	
Years of Service

	
Nonforfeitable Percentage

	
Less than 2

	
0%

	
2 but less than 3

	
25%

	
3 or more

	
100%

33

provided that if a Participant has not made a
withdrawal from his Heritage Amoco Match Account, such Participant’s
nonforfeitable interest in such Account will not be less than:

                              (1)     the
amount in such Account, minus

                              (2)     the
sum of all of the Match Contributions credited to such Account, multiplied by;

                              (3)     the
applicable percentage determined in accordance with the following schedule:

	
 

	
 

	
Years of Service

	
Applicable Percentage

	
Less than 2

	
100%

	
2 but less than 3

	
75%

	
3 or more

	
0%

                    (b)     If
a withdrawal from a Participant’s Heritage Amoco Match Account has been made to
him at a time when he is less than 100 percent vested in such Account balance,
the first vesting schedule in Section 7.2(a) will thereafter apply as
follows:  At any relevant time prior to
a forfeiture of any portion thereof under Section 7.4, a Participant’s vested
interest in his Heritage Amoco Match Account will be equal to P(AB+W)-W, where
P is the Participant’s nonforfeitable percentage at the relevant time; AB is
the Heritage Amoco Match Account balance; and W is the sum of all prior
withdrawals.

          7.3
Vesting in Before-Tax, After-Tax and Rollover Accounts.  A Participant is always 100 percent vested
in his Before-Tax, After-Tax and Rollover Accounts.

          7.4
Forfeitures.

                    (a)     If
any portion of an Inactive Participant’s Match Account is not vested after the
Effective Date, such portion will be forfeited as follows:

                              (1)     If
the Inactive Participant receives a withdrawal of his entire vested interest in
his Account, the non-vested portion of such Account will be forfeited upon the
complete withdrawal of such vested interest, subject to the possibility of
reinstatement as provided in Section 11.2.
For purposes of this subsection, if the value of the Inactive
Participant’s vested interest in such Account balance is zero, the Inactive
Participant will be deemed to have received a withdrawal of his vested interest
immediately following his Severance from Service.

                              (2)     The
non-vested portion of an Inactive Participant’s Match Account will be forfeited
after the Participant has incurred a Break in Service of 7 consecutive 12-month
periods.  The remaining vested portion
of the Participant’s Match Account will be nonforfeitable 

34

                              (3)     and
segregated from the Participant’s Match Account for so long as the Match
Account is not fully vested and such aggregated, vested portion of the Match
Account will no longer be subject to this Article if the Inactive Participant
subsequently becomes an Active Participant.

                    (b)     Notwithstanding
any provisions of this Article VII to the contrary, Match Contributions (plus
or minus any gains or losses thereon) may be forfeited pursuant to the
provisions of Article IV.

                    (c)     Forfeitures
may be applied to reduce the Employer’s obligation to make Contributions
hereunder or to pay reasonable Plan expenses.

          7.5
Application of Former Vesting Schedule.
Notwithstanding anything contained herein to the contrary, in the case
of a Participant who is not credited with an Hour of Service on or after the
Effective Date, the nonforfeitable interest of such Participant in his Match
Account will be determined pursuant to the terms of the Plan in effect prior to
the Effective Date.

35

ARTICLE
VIII

PARTICIPANT
LOANS

          8.1
Participant Loans Permitted.  An
Active Participant will be eligible for a loan with respect to all of his
Accounts pursuant to this Article VIII only to the extent: (a) the Participant
will not be in default on the loan under Section 8.9 immediately after the loan
is made; and (b) in the case of a Participant who has previously defaulted on a
loan (other than a Participant whose outstanding loan balance was repaid in
full in accordance with Section 8.10(c) or who received the defaulted loan in
an actual (not deemed) distribution), the defaulted loan (plus interest accrued
from the date of the default) has been repaid in full.  All loan limits are determined as of the
Trade Date as of which the loan is funded.
The funds will be disbursed to the Participant as soon as is
administratively possible after the next following Settlement Date.

          8.2
Loan Funding Limits.  The loan
amount must be within the following limits:

                    (a)     Plan
Maximum Limit.  Subject to the legal
limit described in (b) below, the maximum a Participant may borrow, including
the outstanding balance of existing Plan loans, is 50 percent of his following
Accounts which are fully vested; disregarding any amount subject to a QDRO:

	
 

	
 

	
 

	
Before-Tax Account

	
 

	
Before-Tax Rollover Account

	
 

	
Match Account

	
 

	
After-Tax Account

	
 

	
After-Tax Rollover
  Account

                    (b)     Legal
Maximum Limit.  The maximum a
Participant may borrow, including the outstanding balance of existing loans, is
based upon the value of his vested interest in this Plan and all other
qualified plans maintained by a Commonly Controlled Entity (the “Vested
Interest”).  The maximum amount is equal
to 50 percent of his Vested Interest, not to exceed $50,000.  However, the $50,000 amount is reduced by the
Participant’s highest outstanding balance of all loans from any Commonly
Controlled Entity’s qualified plans during the 12-month period ending on the
day before the Trade Date on which the loan is made.

                    (c)     Loan
Minimum Limit.  The minimum amount a
Participant can borrow with respect to each loan at any time is $1,000.

          8.3
Maximum Number of Loans.  A
Participant may have only 2 loans outstanding from the Plan at any time;
provided, however, that (i) any loan granted under ARCO CAP, CH-20 CAP or
Vastar CAP, whichever is applicable, and outstanding as of the Effective Date,
will remain outstanding until fully repaid by the Participant, subject to the
terms and conditions of this Article VIII, and (ii) additional loans may be
granted to the Participant under the Plan, but not in excess of the maximum
number of loans set forth above.  

          8.4
Source of Loan Funding.  A loan
to a Participant will be made solely from the assets of his own Accounts. The
available assets will be determined first by Contribution Account.

36

The hierarchy for loan funding by type of Contribution
Account will be the order listed in Section 8.2(a).  Within each Account used for funding, amounts will be taken by
Investment Option in direct proportion to the market value of the Participant’s
interest in each Investment Option as of the Trade Date on which the loan is
made, unless the Participant elects otherwise.

          8.5
Interest Rate.  The interest rate
charged on Participant loans will be fixed throughout the term of the loan and
will equal one plus the prime rate, as published in The Wall Street Journal,
in effect on the last Business Day of the calendar quarter immediately
preceding the calendar quarter in which the loan request is received by the
Administrator.

          8.6
Repayment.  Substantially level
amortization will be required of each loan with payments made at least
monthly.  Loans may be prepaid in full
at any time.  The loan repayment period
will be as mutually agreed upon by the Participant and the Administrator, not
to exceed 5 years or 15 years if the loan is used by the Participant to acquire
the Participant’s principal residence.  

          8.7
Reinvestment of Repayments.  Loan
payments will be invested in Investment Options based upon the Participant’s
current Investment Election for that Account except that the current Investment
Election in effect for Before-Tax and After-Tax Contributions will also be
applied for amounts posted to the Participant’s Match and Rollover Accounts.

          8.8
Loan Application, Note and Security.
A Participant must apply for any loan in accordance with the procedures
established by the Administrator.  The
Administrator will administer Participant loans and will specify the time frame
for approving loan applications.  All
loans will be evidenced by a promissory note and security agreement and secured
only by up to 50 percent of a Participant’s vested Account balance determined
immediately after the origination of the loan.
The Plan will have a lien on such portion of a Participant’s Account to
the extent of any outstanding loan balance.
Each such note will constitute an asset of each of the Accounts from
which the source of the loan originated.
Likewise, each security agreement will represent a liability of each of
the Accounts, but only to the extent that the note constitutes an asset of such
Account. 

          8.9
Default.

                    (a)     A
Participant will default on a loan if any of the following events occurs:

                              (1)     the
Participant’s death;

                              (2)     the
Participant’s failure to make the equivalent of one month’s payment of
principal and interest on the loan;

                              (3)     the
Participant misses less than one month’s repayment but the loan’s term cannot
be extended to recover these repayments without extending its term beyond 5
years;

                              (4)     the
Participant’s failure to perform or observe any covenant, duty, or agreement
under the promissory note evidencing the loan;

37

                              (5)     receipt
by the Plan of an opinion of counsel to the effect that (A) the Plan will, or
could, lose its status as a tax-qualified Plan unless the loan is repaid or (B)
the loan violates, or might violate, any provision of ERISA;

                              (6)     any
portion of the Participant’s Account that secures the loan becomes payable to
the Participant, his surviving Spouse or Beneficiary, an Alternate Payee, or
any other person; or

                              (7)     the
termination of the Plan.

          8.10   Foreclosure.

                    (a)     If
a default on a loan occurs, the Participant, the Participant’s estate, or any
other person will have 90 days from the date of the default to pay the entire
outstanding balance of the loan  to the
Plan or may elect to make one partial payment to the Plan to reduce the
outstanding balance of the loan.  Upon
the death of the Participant, payment may only be made by certified check or
such other means acceptable to the Administrator.

                    (b)     If
full repayment does not happen under Section 8.10(a), the Participant’s
nonforfeitable interest in his Account securing the loan will be applied
immediately, to the extent lawful, when and to the extent the Participant’s
Account is then available for withdrawal in accordance with the applicable
provisions of the Plan, to pay the entire outstanding balance of the loan
(together with accrued and unpaid interest).

                    (c)     Notwithstanding
the foregoing, no portion of the Participant’s Before-Tax Account, or other
Accounts which are not available to be withdrawn, will be withdrawn or applied
to pay an outstanding loan before the date on which it is otherwise
withdrawable under the Plan.  In the
event of a default and failure to repay under Section 8.10(a), the
Administrator will direct the Trustee to report the unpaid balance of the loan
(less amounts withdrawn under Section 8.10(b)) as a taxable distribution.  To the extent that the Participant’s
nonforfeitable interest in his Account securing the loan has not been applied
under Section 8.10(b) to pay the entire outstanding balance of the loan
(together with accrued and unpaid interest), (i) the loan may be repaid, (ii)
the loan will be considered outstanding for purposes of Section 8.3 and (iii)
any repayment will be allocated and posted to the Participant’s After-Tax
Account and treated as an After-Tax Contribution (other than for purposes of
Article IV).

                    (d)     Any
failure by the Administrator to enforce the Plan’s rights with respect to a
default on a loan will not constitute a waiver of such rights either with
respect to that default or any other default.

          8.11   Spousal
Consent.  Spousal Consent will not
be required for any loan.

          8.12   Special
Rules Concerning Loan Repayments While on Qualified Military Leave.  Notwithstanding anything contained herein to
the contrary, if an Employee fails to make one or more loan repayments while he
is on a qualified military leave of absence (as defined in accordance with
Section 414(u)(5) of the Code), no loan will be deemed to be in default solely
as a result of such failure.  As of the
end of the qualified military leave of absence, the term of any 

38

outstanding loan will be extended by the period of the
qualified military leave of absence and the outstanding loan balance will be
reamortized to reflect interest accrued during such period.  If such an extension would, after
reamortizing such loan to reflect loan repayments made and interest accrued
during such qualified military leave of absence, result in smaller monthly loan
repayments than under the terms of the original loan, then the loan term will
be extended but only for such time to ensure that monthly loan repayments
following the qualified military leave of absence are at least equal to monthly
loan repayments under the terms of the original loan.

39

ARTICLE
IX

WITHDRAWALS

          9.1
Withdrawals from After-Tax Account.
By applying to the Administrator in the form and manner prescribed by
the Administrator, an Active Participant may elect to withdraw any portion up
to the entire value of his After-Tax Account.
The withdrawal will be taken first from any After-Tax Contributions made
prior to 1987.  After pre-1987 After-Tax
Contributions are exhausted, such withdrawal will be taken from the balance of
the After-Tax Account with a portion of each withdrawal representing a return
of After-Tax Contributions in an amount equal to the product of (a) the total
withdrawal multiplied by (b) a fraction, the numerator of which is the
Participant’s total After-Tax Contributions remaining in the After-Tax Account,
and Rollover Contributions allocated to the After-Tax Rollover Account, prior
to the withdrawal and the denominator of which is the value of the balance of
the After-Tax Account and After-Tax Rollover Account.  

          9.2
Withdrawals from Rollover Account.
By applying to the Administrator in the form and manner prescribed by
the Administrator, an Active Participant may elect to withdraw any portion, up
to the entire value of his Rollover Account.
The withdrawal will be taken pursuant to the rules set forth in Section
9.1.

          9.3
Withdrawals from Match Account.

                    (a)     By
applying to the Administrator in the form and manner prescribed by the
Administrator, an Active Participant who is fully vested pursuant to Section
7.1 may elect to withdraw any portion, up to the entire value of his Match
Account; provided
that a fully vested Active Participant who does not have at least 5
Years of Participation may only withdraw Match Contributions that have been in
the Plan for at least 2 years.  For
purposes of determining Years of Participation in the Plan and the amount of
time that Match Contributions have been in the Plan, periods of participation
and accumulation under another plan may be considered, pursuant to procedures
established by the Administrator, in the case of a transfer of assets and
liabilities from such plan to the Plan.

                    (b)     By
applying to the Administrator in the form and manner prescribed by the
Administrator, an Active Participant may elect to withdraw any portion, up to
the value of his Heritage Amoco Match Account, minus the greater of:

                              (1)     the
sum of all Match Contributions made with respect to the Participant during the
24-month period preceding the date of the withdrawal, or

                              (2)     the
sum of all Match Contributions made with respect to the Participant in which
the Participant would not have a nonforfeitable interest under Article VII if
the Participant Severed from Service on the date of the withdrawal.

          9.4
Withdrawals from Before-Tax Account for Hardship.

40

                    (a)     Subject
to the provisions of this Section 9.4, an Active Participant may apply to the
Administrator in the form and manner prescribed by the Administrator, for a
withdrawal from his Before-Tax Account excluding any earnings posted to his
Before-Tax Account after December 31, 1988; provided that he has first withdrawn the
total value of his After-Tax Account, the total value of his Rollover Account,
and, to the extent the Participant is vested, the total value of his Match
Account pursuant to Sections 9.1, 9.2 and 9.3.

                    (b)     A
withdrawal under this Section 9.4 will be permitted only if the Administrator
determines that such withdrawal is (1) on account of a Participant’s “Deemed
Financial Need” and (2) “Deemed Necessary” to satisfy the financial need. 

                    A “Deemed Financial Need” will be limited to financial
commitments relating to:

                              (1)     costs
directly related to the purchase or construction (excluding mortgage payments
or balloon payments) of a Participant’s principal residence;

                              (2)     the
payment of expenses for medical care described in Section 213(d) of the
Code previously incurred by the Participant, the Participant’s Spouse, or any
dependents of the Participant (as defined in Section 152 of the Code) or
necessary for those persons to obtain medical care described in Section 213(d)
of the Code;

                              (3)     payment
of tuition and related educational fees and room and board expenses for the
next 12 months of post-secondary education for the Participant, his Spouse,
children or dependents (as defined in Section 152 of the Code); 

                              (4)     necessary
payments to prevent the eviction of the Participant from his principal
residence or the foreclosure on the mortgage of the Participant’s principal
residence; or

                              (5)     the
payment of funeral or burial expenses for the Participant’s Spouse or any
dependents of the Participant (as defined in Section 152 of the Code).

                    A
withdrawal is “Deemed Necessary” to satisfy the financial need only if all of
these conditions are met:

                              (1)     the
withdrawal may not exceed the dollar amount needed to satisfy the Participant’s
documented financial hardship, plus an amount necessary to pay federal, state,
or local income taxes or penalties reasonably anticipated to result from such
withdrawal;

                              (2)     the
Participant must have obtained all distributions, other than financial hardship
distributions, and all nontaxable loans under all plans maintained by any
Commonly Controlled Entity;

                              (3)     the
Participant will be suspended from making Before-Tax Contributions and
After-Tax Contributions (or similar contributions under any other qualified or
nonqualified plan of deferred compensation maintained by a Commonly Controlled
Entity) (i) with respect to any financial hardship withdrawal before January 1,
2001, for at least 12 months 

41

from the date the withdrawal is received, or (ii) with
respect to any financial hardship withdrawal on or after January 1, 2001, for
at least 6 months from the date the withdrawal is received, or until January 1,
2002, if later; and

                              (4)     the
Contribution Dollar Limit for the taxable year immediately following the
taxable year in which the financial hardship withdrawal is received will be
reduced by the Before-Tax Contributions for the taxable year in which the
financial hardship withdrawal is received.

          9.5
Withdrawals from Before-Tax Account for Other Reasons.  By applying to the Administrator in the form
and manner prescribed by the Administrator, an Active Participant who (a) has
attained age 59-1/2, or (b) becomes Disabled, may elect to withdraw any
portion, up to the entire value of his Before-Tax Account.

          9.6
Partial Withdrawals.  By applying
to the Administrator in the form and manner prescribed by the Administrator, an
Inactive Participant may make a pro rata withdrawal from all Accounts of any
amount up to the entire vested portion of the value of those Accounts.

          9.7
Withdrawal Processing Rules.

                    (a)     Minimum
Amount.  There is no minimum amount
for any type of withdrawal.

                    (b)     Permitted
Frequency.  There is no maximum
number of withdrawals permitted in any Plan Year.

                    (c)     Application
by Participant.  A Participant must
submit a withdrawal request in accordance with procedures established by the
Administrator.  A Participant who is not
an Employee may make a withdrawal request, even if the Participant is receiving
amounts pursuant to a systematic withdrawal plan under Article X.

                    (d)     Approval
by Administrator.  The Administrator
is responsible for determining that a withdrawal request conforms to the
requirements described in this Section.

                    (e)     Time
of Processing.  Except as otherwise
provided herein, the Administrator will process all withdrawal requests which
it receives by the Sweep Time that relates to the Payment Date, based on the
value as of the Trade Date to which it relates, and fund them on the next
Settlement Date.  The Administrator will
then make payment to the Participant as soon thereafter as is administratively
possible.

                    (f)     Medium
and Form of Payment.  The medium of
payment for withdrawals is all cash; provided however, a withdrawal may be
paid, as directed by the Participant, all in kind to the extent the withdrawal
is funded from the Company Stock Fund.
The form of payment for all withdrawals will be a single installment.

                    (g)     Investment
Option Sources.  Within each Account
used for funding a withdrawal, amounts will be taken by Investment Option in
direct proportion to the market value 

42

of the Participant’s interest in each Investment
Option (which excludes the Participant’s loans) as of the Trade Date on which
the withdrawal is processed, unless the Participant elects a withdrawal from
specific Investment Option(s).

                    (h)     Direct
Rollover.  With respect to any cash
payment hereunder which constitutes an Eligible Rollover Distribution, a
Distributee may direct the Administrator to have such payment paid to an
Eligible Retirement Plan.

                    (i)     Outstanding
Loan.  Notwithstanding any other
provision of this Article IX, the portion of a Participant’s Account that
secures a loan to such Participant under Article VIII may not be taken as a
withdrawal.

                    (j)     Spousal
Consent.  Spousal Consent will not
be required for any withdrawal.

                    (k)     Required
Withdrawals.  Notwithstanding any
provision of the Plan to the contrary, the Payment Date of the Accrued Benefit
of a Participant who is a 5-percent owner (as defined in Section 416 of the
Code), will not be later than April 1 following the calendar year in which
the Participant attains age 70-1/2 (with required withdrawals to be made by
each December 31 thereafter) and will comply with the requirements of
Section 401(a)(9) of the Code and the Treasury Regulations promulgated
thereunder.  With respect to
distributions under the Plan made for calendar years beginning on or after
January 1, 2001, the Plan will apply the minimum distribution requirements of
Section 401(a)(9) of the Code in accordance with the regulations under Section
401(a)(9) of the Code that were proposed on January 17, 2001, notwithstanding
any provision of the Plan to the contrary.
This provision will continue in effect until the end of the last
calendar year beginning before the effective date of the final regulations
under Section 401(a)(9) of the Code or such other date as may be specified in
guidance published by the Internal Revenue Service.

                    (l)     Hierarchy.
 Except in the case of a withdrawal from a
specific Account pursuant to and only to the extent permitted by Sections 9.1,
9.2, 9.3, 9.4 or 9.5, the funds used to finance a withdrawal described in
Section 9.6 will be derived from the Participant’s Accounts (exclusive of the
Participant’s loans) in the following order (to the extent necessary to finance
the withdrawal):

	
 

	
 

	
 

	
After-Tax Account

	
 

	
After-Tax Rollover
  Account

	
 

	
Before-Tax Rollover
  Account

	
 

	
Match Account (to the extent vested)

	
 

	
Before-Tax Account (but only for a withdrawal under
  Section 9.5 or for an Inactive Participant making a withdrawal under
  Section 9.6)

          9.8
Alternate Payees and Beneficiaries.
See Section 5.3 for the application of the provisions of this
Article IX to Alternate Payees and Beneficiaries.  In the event of a Participant’s death, see Article XII for the
rules regarding the timing and form of distributions following such
Participant’s death.

43

ARTICLE
X

ADDITIONAL
OPTIONAL FORMS OF BENEFIT

FOR AN INACTIVE PARTICIPANT

          10.1     Request
for Withdrawal of Benefits.

                      (a)     Request
for Withdrawal.  Subject to the
other requirements of this Article, an Inactive Participant may elect to have
all of his vested Accrued Benefit paid to him beginning upon any Settlement
Date following his Severance from Service (and prior to a Reemployment Date) in
a form of payment allowed hereunder.  

                      (b)     Failure
to Request Withdrawal.  If an
Inactive Participant fails to submit a withdrawal request in accordance with
procedures established by the Administrator by the last Payment Date permitted
under this Article, his vested Accrued Benefit will be valued as of the
Valuation Date which immediately precedes such latest date of withdrawal (the
“Default Valuation Date”) and a notice of such withdrawal will be issued to his
last known address as soon as administratively possible.  If the Participant does not respond to the
notice or cannot be located, his vested Accrued Benefit determined on the
Default Valuation Date will be treated as a forfeiture.  If the Participant subsequently files a
claim, the amount forfeited (unadjusted for gains and losses) will be
reinstated to his Accounts and distributed as soon as administratively
possible, and such payment will be accounted for by charging it against the
forfeiture account or, to the extent the forfeiture account is insufficient, by
a contribution from the Employer of the affected Inactive Participant.

          10.2     Deadline
for Withdrawal.

                      (a)     Required
Commencement at Retirement.  A
Participant must make a request for payment before payment must commence under
this Section 10.2(a).  In addition to
any other Plan requirements and unless the Inactive Participant elects
otherwise, or cannot be located, but subject to the preceding sentence, the
Payment Date of an Inactive Participant’s vested Accrued Benefit will be not
later than 60 days after the latest of the close of the Plan Year in which: (i)
the Participant attains the earlier of age 65 or his Normal Retirement Date;
(ii) occurs the tenth anniversary of the Plan Year in which the Inactive
Participant commenced participation in the Plan; or (iii) the Participant had a
Severance from Service.  However, if the
amount of the payment or the location of the Inactive Participant (after a
reasonable search) cannot be ascertained by that deadline, payment will be made
no later than 60 days after the earliest date on which such amount or location
is ascertained.  

                      (b)     Minimum
Required Distributions.  In any
case, the Payment Date of the Accrued Benefit of a Participant (i) who is
not an Employee, or (ii) who is an Employee and who is a 5-percent owner
(as defined in Section 416 of the Code), will not be later than
April 1 following the calendar year in which the Participant attains age
70-1/2 (with required distributions to be made by each December 31
thereafter) and will comply with the requirements of Section 401(a)(9) of the
Code and the Treasury Regulations promulgated thereunder.  With respect to distributions under the Plan
made for calendar years beginning on or after January 1,

44

2001, the Plan will apply the minimum distribution
requirements of Section 401(a)(9) of the Code in accordance with the
regulations under Section 401(a)(9) of the Code that were proposed on January
17, 2001, notwithstanding any provision of the Plan to the contrary.  This provision will continue in effect until
the end of the last calendar year beginning before the effective date of the
final regulations under Section 401(a)(9) of the Code or such other date as may
be specified in guidance published by the Internal Revenue Service.

          10.3     Payment
Form and Medium.

                      (a)     General.
An Inactive Participant’s vested Accrued
Benefit may be paid:

                                (1)     in
the form of a single sum, or

                                (2)     under
a systematic withdrawal plan (installments) permitted under the Plan.

          Within
each Account used for funding a withdrawal, amounts will be taken by Investment
Option in direct proportion to the market value of the Participant’s interest
in each Investment Option at the Trade Date for which the distribution is made,
unless the Participant elects a withdrawal from specific Investment Option(s).

                      (b)     Medium
of Payment.  Payments will be made
in cash; alternatively, to the extent the withdrawal is funded from the Company
Stock Fund, the Inactive Participant can elect to receive payment in whole
shares of Company Stock or a combination of whole shares and cash. 

                      (c)     All
withdrawals pursuant to Section 10.3(a)(2) will be made exclusively in cash in
accordance with the following rules:

                               (1)     The
funds used to finance the withdrawal will be derived from the Inactive
Participant’s Account (exclusive of the Participant’s loans) in the following
order (to the extent necessary to obtain the amount necessary to finance the
distribution):

	
   

  	
   

  
	
   

  	
  After-Tax Account (unmatched first)

  
	
   

  	
  After-Tax Rollover
  Account

  
	
   

  	
  Before-Tax Rollover
  Account

  
	
   

  	
  Match Account (to the extent vested)

  
	
   

  	
  Before-Tax Account (unmatched first)

  

                               (2)     Within
each Account used for funding a withdrawal, amounts will be taken in direct
proportion to the market value of the Participant’s interest in each Investment
Option at the Trade Date on which the withdrawal is made.

                      (d)     An
Inactive Participant who is receiving withdrawals pursuant to Section
10.3(a)(2) may elect to accelerate payments, receive a lump-sum distribution of
the remainder of his Accounts or to receive a withdrawal under Article IX.

45

          10.4     Small
Amounts Paid Immediately.  If an
Inactive Participant’s vested Accrued Benefit is $5,000 or less (or such larger
amount as may be specified in Section 411(a)(11) of the Code) at any time,
including after withdrawals (except installment payments) have commenced, the
Inactive Participant’s Accrued Benefit will be paid as a single sum as soon as
administratively possible, pursuant to such procedures as may be established by
the Administrator.

          10.5     Payment
Within Life Expectancy.  An Inactive
Participant’s payment election must be consistent with the requirement of
Section 401(a)(9) of the Code that all payments are to be completed within
a period not to exceed the lives or the joint and last survivor life expectancy
of the Inactive Participant and his Beneficiary.  The life expectancies of an Inactive Participant and his
Beneficiary may be recalculated annually.
If the Inactive Participant does not properly notify the Administrator
regarding whether life expectancies will be recalculated annually, they will
not be.  A single life expectancy will
be used if the Inactive Participant does not properly notify the Administrator
regarding the period to be used.  The
elections regarding the life expectancy or expectancies to be used with respect
to an Inactive Participant’s payment election and the extent to which
recalculation will apply will be irrevocable.

          10.6     Incidental
Benefit Rule.  The Participant’s
payment election must be consistent with the requirement that, if the
Participant’s Spouse is not his sole primary Beneficiary, the minimum annual
distribution for each calendar year, beginning with the year in which he
attains age 70-1/2, will not be less than the quotient obtained by dividing
(a) the Inactive Participant’s vested Accrued Benefit as of the last Trade
Date of the preceding year by (b) the applicable divisor as determined
under the incidental benefit requirements of Section 401(a)(9) of the
Code.

          10.7     Continued
Payment of Amounts in Payment Status on Effective Date.  Any person who became an Inactive
Participant on the Effective Date only because he had an Accrued Benefit and
who had commenced to receive payments prior to the Effective Date will continue
to receive such payments in the same form and payment schedule under this Plan.

          10.8     Direct
Rollover.  With respect to any cash
payment hereunder which constitutes an Eligible Rollover Distribution, a
Distributee may direct the Administrator to have such payment paid to an
Eligible Retirement Plan.

          10.9     Delay.  Notwithstanding
any other provision of the
Plan, a payment will not be considered to be made after the applicable Payment
Date merely because actual payment is reasonably delayed for the calculation
and/or distribution of the benefit amount, or to ascertain the location of the
payee, if all payments due are actually made.

          10.10   Alternate
Payees and Beneficiaries.  See
Section 5.3 for the application of the provisions of this Article X to
Alternate Payees and Beneficiaries.  In
the event of a Participant’s death, see Article XII for the rules regarding the
timing and form of distributions following such Participant’s death.

46

ARTICLE
XI

REEMPLOYMENT

          11.1     Break
in Service Rules.

                      (a)     Subject
to subsection (b), a Participant who is at least partially vested in his Match
Account will always have all periods of Service recognized under the Plan,
regardless of the length of any Break in Service.  Notwithstanding anything in subsection (b) to the contrary, any
Participant who was fully vested in his Match Account will, upon reemployment,
be fully vested in his Match Account, regardless of his period of Service
recognized under the Plan or regardless of the length of any Break in Service.

                      (b)     If
an Inactive Participant returns to employment as an Employee at a time after he
has incurred a Break in Service of at least 7 consecutive 12-month periods,
upon his Reemployment Date with any Commonly Controlled Entity, his Service
earned after such Break in Service will be disregarded for  purposes of determining the Participant’s
vested interest in his Match Account attributable to employment before such
Break in Service.

                      (c)     If
an Inactive Participant who is not at least partially vested in his Match
Account returns to employment as an Employee at a time after he has incurred a
Break in Service of at least one 12-month period, but less than 7 consecutive
12-month periods, the period of such Break in Service will be excluded in
determining such Employee’s Service.

                      (d)     If
an Inactive Participant who is not at least partially vested in his Match
Account returns to employment as an Employee at a time after he has incurred a
Break in Service of at least 7 consecutive 12-month periods, upon his
Reemployment Date his Service earned prior to such Break in Service will be
disregarded for all purposes.

          11.2     Restoration
of Forfeited Amounts.

                      (a)     If
a Participant forfeits any portion of his Account under Section 7.4(a) because
of the withdrawal of his complete vested interest in his Accounts after April
7, 2000, but again becomes an Employee before the date he incurs a Break in
Service of at least 7 consecutive 12-month periods, then the amount so
forfeited, without any adjustment for the earnings, expenses, losses, or gains
of the assets credited to his Accounts since the date forfeited, will be
recredited to his Accounts.  The amount
to be recredited pursuant to this paragraph will be accounted for by charging
it against the forfeiture account or, to the extent the forfeiture account is
insufficient, by a contribution from the Employer of the affected Participant.

                      (b)     A
Heritage BP Participant who Severed from Service while under BP America CAP
prior to April 7, 2000, and who subsequently has a Reemployment Date after
April 7, 2000, within 7 years of such Severance from Service will have any
forfeited amount restored to his Match Account, adjusted as though such amounts
had been invested in the Income Fund since the date forfeited and invested in
accordance with the Participant’s new Investment Election for Before-Tax and
After-Tax Contributions.  However, if
such a Participant had received a distribution of part or all of his Accounts,
he must repay, in cash, the full amount of 

47

such distribution on or before his final repayment
date before any such forfeited amount will be restored to his Accounts and
invested in accordance with the Participant’s Investment Election for
Before-Tax and After-Tax Contributions. In this case, no interest will be
accrued on such forfeited amount from the time of the distribution until the
time the distribution is repaid.  For
purposes of repaying the distribution amounts the “final repayment date” will
be 5 years after his Reemployment Date.
Amounts previously forfeited after a Break in Service of at least 7
consecutive 12-month periods will not be restored.

                      (c)     A
Heritage Amoco Participant who Severed from Service while under AESP prior to
April 7, 2000, and subsequently has a Reemployment Date after April 7, 2000,
within 7 years of such Severance from Service will have any forfeited amount,
without any adjustment for the earnings, expenses, losses, or gains of the
assets allocated to his Accounts since the date forfeited, restored to his
Match Account and invested in accordance with the Participant’s new Investment
Election for Before-Tax and After-Tax Contributions.  Amounts previously forfeited after a Break in Service of at least
7 consecutive 12-month periods will not be restored.

                      (d)     Notwithstanding
the foregoing paragraph (c), a Heritage Amoco participant who Severed from
Service while under AESP prior to April 7, 2000, and had a Break in Service of
at least 5 consecutive years prior to April 7, 2000 (determined under the terms
of AESP as in effect immediately prior to April 7, 2000), will not have any
forfeited amount restored to his Match Account.

48

ARTICLE
XII

DISTRIBUTION
OF ACCRUED BENEFITS ON DEATH

          12.1     Payment
to Beneficiary.  In the case of a
Participant’s death, distribution of the Participant’s vested Accounts will be
made in accordance with procedures established by the Administrator, and
subject to an applicable election, by December 31 of the year in which the
fifth anniversary of the Participant’s death occurs.

          12.2     Small
Amounts Paid Immediately.  If a
Beneficiary’s vested Accrued Benefit is $5,000 or less (or such larger amount
as may be specified in Section 411(a)(11) of the Code) at any time, including
after payments hereunder have commenced, the Beneficiary’s Accrued Benefit will
be paid as a single sum as soon as administratively possible, pursuant to such
procedures as may be established by the Administrator.

          12.3     Beneficiary
Designation.

                      (a)     Each
Participant may designate the Beneficiary who is to receive the Participant’s
remaining Plan interest at his death.
The Participant may change his designation of Beneficiary by filing a
new designation with the Administrator.
Notwithstanding any designation to the contrary, the Participant’s Beneficiary
will be the Participant’s surviving Spouse, unless such designation includes
Spousal Consent.  In the absence of
Spousal Consent, a Participant will be deemed to have designated his surviving
Spouse as his Beneficiary unless and to the extent that such designation is
inconsistent with a QDRO.  If the
Participant dies leaving no Spouse and either (1) the Participant failed to
file a valid Beneficiary designation, or (2) all persons designated as
Beneficiary have predeceased the Participant, the Administrator will have the
Trustee distribute such Participant’s Accrued Benefit in a single sum to his
estate by December 31 of the year in which the fifth anniversary of the
Participant’s death occurs.

                      (b)     Subject
to the provisions of this Section, a Participant may designate a Beneficiary
under the Plan at any time by making the designation in the form and manner and
at the time determined by the Administrator.
No such designation will be effective until and unless it is received by
the Administrator.

                      (c)     Subject
to the provisions of this Section, a Participant may revoke a prior designation
of a Beneficiary at any time by making the revocation in the form and manner
and at the time determined by the Administrator.  No such revocation will be effective until and unless it is
received by the Administrator.

                      (d)     Subject
to the provisions of this Section, if a Participant designates his Spouse as
his Beneficiary, except to the extent required by applicable law, that
designation will not be revoked or otherwise altered or affected by any:

                                (1)     change
in the marital status of the Participant and such Spouse,

                                (2)     agreement
between the Participant and such Spouse.

49

                      (e)     If
a Participant designates his Spouse as his Beneficiary, and the Administrator
receives a QDRO with respect to the marriage, separation or divorce of the
Participant and such Spouse, such Spouse will cease to be the Participant’s
Beneficiary unless and until the Participant again designates his Spouse as his
Beneficiary in accordance with the provisions of this Section, except to the
extent otherwise provided in the QDRO.

                      (f)     A
Participant’s Beneficiary may not be changed following the Participant’s death,
including, but not limited to, by a disclaimer otherwise valid under applicable
law.

          12.4     Direct
Rollover.  With respect to any cash
payment hereunder which constitutes an Eligible Rollover Distribution, a
Distributee may direct the Administrator to have such payment paid to an
Eligible Retirement Plan.

          12.5     Alternate
Payees and Beneficiaries.  See
Section 5.3 for the application of the provisions of this Article XII to
Alternate Payees and Beneficiaries.
Notwithstanding anything herein to the contrary, the death of a
Beneficiary will not extend the time period described in Section 12.1 with
respect to the Beneficiary of such Beneficiary, if any.

50

ARTICLE
XIII

TRUST
ARRANGEMENT

          13.1     Trust
Agreement.  A Designated Officer may
enter into one or more Trust Agreements to provide for the holding, investment
and payment of Plan assets.  All Trust
Agreements, as from time to time amended, will continue in force and will be
deemed to form a part of the Plan.
Subject to the requirements of the Code and ERISA, the Administrator may
cause assets of the Plan which are securities to be held in the name of a
nominee or in street name provided such securities are held on behalf of the
Plan by:

                      (a)     a
bank or trust company that is subject to supervision by the United States or a
State, or a nominee of such bank or trust company;

                      (b)     a
broker or dealer registered under the Securities Exchange Act of 1934, or a
nominee of such broker or dealer; or

                      (c)     a
“clearing agency” as defined in Section 3(a)(23) of the Securities Exchange Act
of 1934, or its nominee.

          13.2     Separate
Entity.  The Trust Fund under this
Plan from its inception will be a separate entity aside and apart from the
Employers or their assets, and the corpus and income thereof will in no event
and in no manner whatsoever be subject to the rights or claims of any creditor
of any Employer.

          13.3     Plan
Asset Valuation.  As of the
Valuation Time each Business Day, the value of the Plan’s assets held or posted
to an Investment Option will be determined.

          13.4     Right
of Employers to Plan Assets.  The
Employers will have no right or claim of any nature in or to the assets of the
Plan except the right to require the Trustee to hold, use, apply, and pay such
assets in its possession in accordance with the Plan for the exclusive benefit
of the Participants or their Beneficiaries and for defraying the reasonable
expenses of administering the Plan; provided, that:

                      (a)     if
the Plan receives an adverse determination with respect to its initial
qualification under Sections 401(a), 401(k) and 401(m) of the Code,
Contributions conditioned upon the qualification of the Plan will be returned
to the appropriate Employer within 1 year of such denial of qualification;
provided, that the application for determination of initial qualification is
made by the time prescribed by law for filing the respective Employer’s return
for the taxable year in which the Plan is adopted, or by such later date as is
prescribed by the Secretary of the Treasury under Section 403(c)(2)(B) of
ERISA;

                      (b)     if,
and to the extent that, deduction for a Contribution under Section 404 of
the Code is disallowed, Contributions conditioned upon deductibility will be
returned to the appropriate Employer within 1 year after the disallowance of
the deduction; 

51

                      (c)     if,
and to the extent that, a Contribution is made through mistake of fact, such
Contribution will be returned to the appropriate Employer within 1 year of the
payment of the Contribution; and

                      (d)     any
amounts held suspended pursuant to the limitations of Section 415 of the
Code will be returned to the Employers upon termination of the Plan.

All Contributions made hereunder are hereby expressly
conditioned upon the Plan being qualified under Sections 401(a), 401(k)
and 401(m) of the Code and a deduction being allowed for such contributions
under Section 404 of the Code.
Before-Tax Contributions returned to an Employer pursuant to this
Section will be paid to the Participant for whom contributed as soon as
administratively convenient.  If these
provisions result in the return of Contributions after such amounts have been
allocated to Accounts, such Accounts will be reduced by the amount of the
allocation attributable to such amount, adjusted for any losses or expenses. 

52

ARTICLE
XIV

ADMINISTRATION

          14.1     General.

                      (a)     Designated
Officer and Administrator.  The
Company, through its by-laws and the authority vested in the Board of
Directors, hereby:

                                (1)     enables
a Designated Officer to have the power and authority to act, to the extent
provided herein, on behalf of the Company, with respect to matters which relate
to the Plan, but not on behalf of the Plan; and

                                (2)     establishes
the Administrator and enables the Administrator to have the power and authority
to act, to the extent provided herein, on behalf of the Plan, but not on behalf
of an Employer or the Company.

                      (b)     Designated
Officer Acting on Behalf of the Company.
Each Designated Officer will have the following authority and control,
and such other authority and control as will be granted to it, from time to
time, by the Board of Directors or one of its committees, to act on behalf of
the Company but subject to any limitations imposed on such authority and
control by the Board of Directors or one of its committees:

                                (1)     to
identify (and remove) any person as an Administrative Named Fiduciary with
respect to certain authority to control and manage the administration and
operation of the Plan, in the manner provided herein;

                                (2)     to
consult with legal counsel, independent consulting or evaluation firms,
accountants, actuaries, or other advisors, as necessary, to perform its
functions;

                                (3)     to
determine what expenses, if any, related to the operation and administration of
the Plan will be paid from Employer assets, subject to applicable law;

                                (4)     to
establish such policies and, through the use of such method of taking action as
will be selected by a Designated Officer, to make such delegations or
designations as may be necessary or incidental to a Designated Officer’s
authority and control over the Plan to such officers or executives as have
functional responsibility in the respective areas;

                                (5)     to
amend, in part or completely, the Plan document;

                                (6)     to
add a corporation or business entity as a participating Employer or to remove
such corporation or entity as a participating Employer on such terms and in
such manner as a Designated Officer, in its discretion, will determine; and

53

                                (7)     to
take all other actions allocated to a Designated Officer in this Plan or which
a Designated Officer determines in good faith to be necessary or desirable to
fulfill its duties and obligations under the Plan.

                      (c)     Administrator
as an Applicable Named Fiduciary.
The Administrator, acting on behalf of the Plan and subject to the last
sentence of this Section 14.1(c), will be an Applicable Named Fiduciary with
respect to the authority to manage and control the administration and operation
of the Plan, including without limitation, the following:

                                (1)     to
appoint and compensate from the Trust Fund such specialists (including
attorneys, actuaries, consultants and accountants) to aid it in the operation
and administration of the Plan, and arrange for such other services, as the
Administrator considers necessary or appropriate in carrying out the provisions
of the Plan;

                                (2)     to
appoint and compensate from the Trust Fund an independent outside accountant to
conduct such audits of the financial statements of the Plan as the
Administrator considers necessary or appropriate;

                                (3)     to
execute on behalf of the Plan, or to cause the Trustee to execute on behalf of
the Plan, Administrative Services Agreements or other contracts which are
legally enforceable and binding on the Plan, subject to ERISA;

                                (4)     to
authorize a person who may, but need not, be an officer or Employee of an
Employer to be this Plan’s agent for service of legal process and to execute
documents on behalf of the Administrator, including any instructions to the
Trustee;

                                (5)     to
authorize a settlement or compromise any litigation resulting in a final
liability to the Plan and Trust; and

                                (6)     to
delegate its authority and control over management and operation of the Plan to
a Fiduciary pursuant to the procedures herein or to empower certain entities to
act as its agent with respect to such authority and control; 

                                (7)     to
make a claim determination, based upon (i) the information known to the
Administrator, (ii) determinations made by an Employer, (iii) such other
information presented to the Administrator in a manner consistent with its
rules and procedures for presenting evidence, and (iv) such final
determinations as may be made by each other Applicable Named Fiduciary within
the scope of its authority and control, all as are determined to be relevant by
the Administrator, as to any matter or issue presented to him through the
Plan’s appeals procedure; 

                                (8)     maintain
participant records;

                                (9)     administer
QDROs; and

54

                                (10)    to
determine eligibility for participation and benefits under this Plan,
including, without limitation, the determination of those individuals who are
deemed to be an Employee of any Commonly Controlled Entity.

                              A
Designated Officer will not be an Applicable Named Fiduciary whenever it acts
on behalf of the Company rather than as, for example, Administrator and,
notwithstanding any other term or provision of the Plan, the Administrator will
cease to be an Applicable Named Fiduciary with respect to any specified portion
of the operation and administration of the Plan, to the extent that another
Applicable Named Fiduciary is designated pursuant to the procedure in the Plan
to severally have authority to manage and control such portion of the operation
and administration of the Plan.

                      (d)     Procedures
for Identification of an Administrative Named Fiduciary.  A Designated Officer, acting on behalf of
the Company, may from time to time, identify (or revoke such identification of)
a person to be an Administrative Named Fiduciary with respect to some portion
of the authority to manage and control operation and administration of the
Plan.  Such identification will either
(i) involve the designation of the person by name or title in the Plan or
Trust document and specification in the Plan or Trust document of the
management and control authority with respect to which the person will be an
Administrative Named Fiduciary; or (ii) refer to an Administrative
Services Agreement with such person to provide services to or on behalf of the
Plan or Trust and use such Administrative Services Agreement as a means for
specifying the management and control authority with respect to which such
person will be an Administrative Named Fiduciary.  A Designated Officer may make such identification by use of such
method of taking action as such Designated Officer may select.  The Board of Directors, by resolution, may
also identify (or revoke such identification of) a person to be an
Administrative Named Fiduciary with respect to some portion of the authority to
manage and control the operation and administration of the Plan.  No person who is identified as an
Administrative Named Fiduciary hereunder must consent to such identification
nor will it be necessary for a Designated Officer to seek such person’s acquiescence;
however, where such person has not signed an Administrative Services Agreement,
he must be given notification of the services to be performed and perform such
services.  The authority to manage and
control, which any person who is identified to be an Administrative Named
Fiduciary hereunder may have, will be several and not joint with the
Administrator and will result in the Administrator no longer being an
Administrative Named Fiduciary with respect to, nor having any longer, such
authority to manage and control.  On and
after the designation of a person as an Administrative Named Fiduciary, the
Company, the Employer, each Designated Officer, the Administrator, and any
other Administrative Named Fiduciary with respect to the Plan, will have no
liability for the acts (or failure to act) of any such Administrative Named
Fiduciary except to the extent of its co-fiduciary duty under ERISA.

                      (e)     Discretionary
Authority of Administrative Named Fiduciary.  Each Administrative Named Fiduciary on behalf of the Plan will
enforce the Plan in accordance with its terms.
Each Administrative Named Fiduciary will have full and complete
authority to control and manage that portion of the administration and
operation of the Plan allocated to such Administrative Named Fiduciary,
including, but not limited to, the authority and discretion to:

55

                               (1)     Formulate,
adopt, issue and apply procedures and rules and change, alter or amend such
procedures and rules in accordance with law and as may be consistent with the
terms of the Plan;

                               (2)     Exercise
such discretion as may be required to construe and apply the provisions of the
Plan, subject only to the terms and conditions of the Plan; and

                                (3)     To
take all other actions already described in this Plan or which the
Administrative Named Fiduciary determines in good faith to be necessary or
desirable to fulfill its duties and obligations under the Plan.

                      (f)     Allocations
and Delegations of Responsibility.

                               (1)     Delegations.
Each Administrative Named Fiduciary may
designate persons (other than an Administrative Named Fiduciary) to carry out
Fiduciary responsibilities it may have with respect to the Plan and make a
change of delegated responsibilities; provided, however, trustee
responsibilities may only be delegated to an investment manager as described in
ERISA.  Such delegation will either: (A) specify
the delegated person by name or position and specify the discretionary
authority with respect to which the person will be a Fiduciary; or
(B) refer to an Administrative Services Agreement with such person to
provide services to the Plan on behalf of the delegating Administrative Named
Fiduciary as a means of specifying the discretionary authority with respect to
which such person will be a Fiduciary.
The Administrative Named Fiduciary may make such delegations by use of
such method of taking action which it may select.  No person (other than an investment manager (as defined in
Section 3(38) of ERISA)) to whom Fiduciary responsibility has been
delegated must consent to being a Fiduciary nor will it be necessary for the
delegating Administrative Named Fiduciary to seek such person’s acquiescence;
however, where such person has not signed an Administrative Services Agreement,
he must be given notification of the services to be performed and perform such
services.  The discretionary authority
any person who is delegated Fiduciary responsibilities hereunder may have will
be several and not joint with the delegating Administrative Named
Fiduciary.   A delegation of Fiduciary
responsibility to a person which is not implemented in the manner set forth herein
will not be void; however, whether the delegating Administrative Named
Fiduciary will have joint liability for acts of such person will be determined
by applicable law.

                               (2)     Allocations.
A Designated Officer, acting on behalf of
the Company, may allocate Fiduciary responsibilities (other than trustee
responsibilities described in Section 405(c)(3) of ERISA) among named
fiduciaries when it identifies an Administrative Named Fiduciary in the manner
described in paragraph (d) hereof, or may reallocate Fiduciary responsibilities
among existing named fiduciaries by action of a Designated Officer in
accordance with paragraph (d) hereof.
An allocation of Fiduciary responsibility to a person which is not
implemented in the manner set forth herein will not be void, however, such
person may not be an Administrative Named Fiduciary with respect to the Plan.

                               (3)     Limit
on Liability.  Fiduciary duties and
responsibilities which have been allocated or delegated pursuant to the terms
of the Plan are intended to limit the liability, if any, of the Company, an
Employer and the members of the Board of Directors, the 

56

Administrator, each Designated Officer and each
Administrative Named Fiduciary, as appropriate, in accordance with the
provisions of Section 405(c) of ERISA.

                      (g)     Fiduciary
Capacity.  Any person or group of
persons may serve in more than one Fiduciary capacity with respect to the
Plan.  The Administrator’s status as an
employee of the Company will not disqualify such individual from taking any
action hereunder or render such individual accountable for any distribution or
other material advantage such individual may receive under the Plan.

                      (h)     Applicable
Named Fiduciary Decisions Final.
The decision of the Administrator or another Applicable Named Fiduciary
in matters within its jurisdiction will be final, binding, and conclusive upon
Company, the Employer, the Trustee, each Employee, Participant, Spouse and
Beneficiary, and every other person or party interested or concerned.

                      (i)     No
Agency.  Each Administrative Named
Fiduciary will perform (or fail to perform) its responsibilities and duties or
discretionary authority with respect to the Plan as an independent contractor
and not as an agent of the Plan, the Company, any Employer, or the
Administrator.  No agency is intended to
be created nor is any Designated Officer empowered to create an agency
relationship with an Administrative Named Fiduciary.

                      (j)     Employer’s
Agent.  The Company and each
Designated Officer will act as agent for each Employer when acting hereunder.

          14.2     Claims
Procedure.

                      (a)     Initial
Review of Claim.  If any individual
believes that he has improperly been excluded from participation in the Plan,
or if a Member believes he is entitled to benefits in an amount greater than
those which he is receiving or has received, he may file a claim with the
Claims Administrator.  Such a claim will
be in writing and state the nature of the claim, the facts supporting the
claim, the amount claimed, and the address of the claimant.  The Claims Administrator will review the
claim and, unless special circumstances require an extension of time, within 90
days after receipt of the claim, mail written notice by registered or certified
mail to the claimant of the decision with respect to the claim.  If special circumstances require an
extension of time, the claimant will be so advised in writing mailed within the
initial 90-day period and in no event will such an extension exceed 90
days.  The notice of the decision with
respect to the claim will be written in a manner calculated to be understood by
the claimant and, if the claim is wholly or partially denied, set forth the
specific reasons for the denial, specific references to the pertinent Plan
provisions on which the denial is based, a description of any additional
material or information necessary for the claimant to perfect the claim and an
explanation of why such material or information is necessary, and an
explanation of the claim review procedure under the Plan, including a notice
that (i) the claimant or his duly authorized representative may request a
review of the denial in accordance with the procedures set forth in subsection
(b) of this Section, (ii) the claimant may have reasonable access to pertinent
documents, and (iii) the claimant may submit comments in writing to the Claims
Administrator. 

57

                      (b)     Appeal
of Claim.  Within 60 days after
notice of the denial has been received by the claimant, the claimant or his
duly authorized representative may request a review of the denial by the Claims
Administrator by filing with the Claims Administrator, a written request for
such review.  If a request is so filed,
review of the denial will be made by the Claims Administrator within 60 days
after receipt of such request, unless special circumstances require an
extension of time, and the claimant will be given written notice of the
resulting final decision.  If special
circumstances require an extension of time, the claimant will be so advised in
writing mailed within the initial 60-day period and in no event will an
extension exceed 60 days.  The notice of
the Claims Administrator’s final decision will include specific reasons for the
decision and specific references to the pertinent Plan provisions on which the
decision is based and will be written in a manner calculated to be understood
by the claimant.

          14.3     Notices
to Participants, Etc.  Any notice,
report or statement given, made, delivered or transmitted to a Participant or
any other person entitled to or claiming benefits under the Plan will be deemed
to have been duly given, made or transmitted when sent via messenger, delivery
service, facsimile or mailed by first class mail with postage prepaid and
addressed to the Participant or such person at the address last appearing on
the records of the Administrator or the Applicable Named Fiduciary, whichever
is applicable.  A Participant or other
person may record any change of his address from time to time by following the
procedures established by the Administrator.

          14.4     Notices
to Claims Administrator.  Any
written direction, notice or other communication from Participants or any other
person entitled to or claiming benefits under the Plan to the Claims
Administrator will be deemed to have been duly given, made or transmitted
either when delivered to such location as will be specified upon the forms
prescribed by the Claims Administrator for the giving of such direction, notice
or other communication or when otherwise received by the Claims Administrator.

          14.5     Actions
by the Company.  Whenever the
Company or an Employer have the authority to take action under this Plan, the
following person or persons will have the authority to act on behalf of the
Company or Employer:

                      (a)     action(s)
may be taken by resolution of the Board of Directors;

                      (b)     the
Designated Officer, unless such authority has been expressly limited by the
terms of this Plan or the enabling resolutions of the Board of Directors or one
of its committees.

58

ARTICLE
XV

ADOPTION
AND WITHDRAWAL FROM PLAN

          15.1     Adoption
by Other Employers. 

                      (a)     With
the consent of a Designated Officer, any Commonly Controlled Entity may adopt
this Plan and participate herein (for purposes of this Article XVI, a “Participating
Employer”), effective as of the date specified in such adoption, by filing with
the Designated Officer a certified copy of a resolution of its board of
directors or other governing authority to that effect, and such other
instruments as the Designated Officer may require, and, if the resolution
involves a change in the Trust Agreement, the Designated Officer’s filing with
the Trustee a copy of such resolution, together with a certified copy of the
consent of the Designated Officer approving such adoption.

                      (b)     The
adoption resolution may contain such specific changes and variations in the
terms of the Plan or Trust Agreement that apply to such Participating Employer
and its Employees as may be acceptable to the Designated Officer and if the
resolution involves a change in the Trust Agreement, the Trustee.  However, the sole, exclusive right to amend
the Plan or the Trust Agreement in any other respect is reserved in accordance
with Section 16.1, and any such amendment will be binding upon the
Participating Employer; provided that no amendment without the consent of a
Participating Employer may alter specific changes and variations in the Plan or
Trust Agreement terms adopted by the Participating Employer in its adoption resolution.  The adoption resolution will become, as to
such Participating Employer and its Employees, a part of this Plan and the
Trust Agreement.  It will not be
necessary for the Participating Employer to sign or execute the Plan, the Trust
Agreement, or any amendment thereof. The coverage date of the Plan for any
Participating Employer will be the date stated in the adoption resolution, and
from and after such effective date, such Participating Employer will assume all
the rights, obligations and liabilities of an individual Employer entity under
the Plan and the Trust Agreement.  The
administrative powers and control of the Company and any Designated Officer, as
provided in the Plan and the Trust Agreement, including the exclusive right to
amend the Plan and the Trust Agreement, and the administrative powers of the
Company to appoint and remove the Trustee, and its successors, will not be
diminished by reason of the participation of any Participating Employer in the
Plan.

          15.2     Withdrawal
from the Plan.  With the consent of
a Designated Officer, a Participating Employer may discontinue or revoke its
participation in the Plan on at least 90 days’ notice by filing a properly
executed document with the Designated Officer.
Notwithstanding the foregoing, a Participating Employer will be deemed
to have terminated its participation in the Plan when it ceases to be a
Commonly Controlled Entity.

          15.3     Employee
Transfers Within Participating Group .
It is anticipated that an Employee may be transferred between
Participating Employers.  No such
transfer will be deemed a Severance from Service.

59

          15.4     Designation
of Agent.  Each Participating
Employer will be deemed a part of the Company; provided that, with respect to
its relations with the Trustee and the Administrator in connection with the
Plan, each Participating Employer will be deemed to have irrevocably designated
the Company and each Designated Officer as its agent.

          15.5     Designated
Officers.  Only the Senior Vice
President or the Group Vice President of BP p.l.c. can act as a Designated
Officer under this Article XV unless the Board of Directors has specifically
granted authority outside of this Plan to another Designated Officer to act
under this Article XV, and then only to the extent so granted.

60

ARTICLE
XVI

AMENDMENT,
TERMINATION AND MERGER

          16.1     Amendments.

                      (a)     Power
to Amend. The Company may at any time and from time to time amend, suspend
or modify the Plan, in whole or in part, by written instrument duly adopted by:
(i) the Board of Directors; or (ii) any Designated Officer, if the Board
of Directors has delegated to such Designated Officer the authority to execute
such amendments.  Any such amendment,
suspension or modification will become effective on such date as the Board of
Directors or such Designated Officer, as the case may be, will determine, and
may apply retroactively or prospectively to Members at the time thereof, as
well as to future Members; provided, however, that no amendment will:

                               (1)     increase
the duties or liabilities of the Trustee or the Administrator without its
written consent;

                               (2)     have
the effect of vesting in any Employer any interest in any funds, securities or
other property, subject to the terms of this Plan and the Trust Agreement;

                               (3)     authorize
or permit at any time any part of the corpus or income of the Plan’s assets to
be used or diverted to purposes other than for the exclusive benefit of
Members;

                               (4)     except
to the extent permissible under ERISA and the Code, make it possible for any
portion of the Trust assets to revert to an Employer to be used for, or
diverted to, any purpose other than for the exclusive benefit of Members
entitled to Plan benefits and to defray reasonable expenses of administering
the Plan;

                               (5)     permit
an Employee to be paid the balance of his Before-Tax Account unless the payment
would otherwise be permitted under Section 401(k) of the Code; and

                               (6)     have
any retroactive effect as to deprive any such person of any benefit already
accrued, except that no amendment made in order to conform the Plan as a plan
described in Section 401(a) of the Code of which amendments are permitted
by the Code or are required or permitted by any other statute relating to
employees’ trusts, or any official regulations or ruling issued pursuant
thereto, will be considered prejudicial to the rights of any such person.

                      (b)     Restriction
on Amendment.  No amendment to the
Plan will deprive a Participant of his nonforfeitable rights to benefits
accrued to the date of the amendment.
In addition to the foregoing, the Plan will not be amended so as to
eliminate an optional form of payment of an Accrued Benefit attributable to
employment prior to the date of the amendment, except to the extent permissible
under ERISA and the Code.  The foregoing
limitations do not apply to benefit accruals occurring after the date of the
amendment.

61

                      (c)     A
Designated Officer.  The Senior Vice
President or the Group Vice President of BP p.l.c. acting as a Designated
Officer on behalf of the Company, may amend, modify, change or revise the Plan
or any Appendix, in whole or in part, or with respect to all persons or a
designated group of persons unless the Board of Directors has specifically
granted authority outside of this Plan to another Designated Officer to act
under this Article XVI, and then only to the extent so granted; provided
however (1) no such action may be taken if it could not have been adopted
under this Section by the Board of Directors; and (2) no such action may
amend Articles XIV and XVI.

          16.2     Plan
Termination.  It is the expectation
of the Company that it will continue the Plan and the payment of Contributions
hereunder indefinitely, but the continuation of the Plan and the payment of
Contributions hereunder is not assumed as a contractual obligation of the
Company or any other Employer.  The
Company reserves the right, at any time, to terminate the Plan, or to reduce,
suspend or discontinue its or any other Employer’s Contributions hereunder,
provided, however, that the Contributions for any Plan Year accrued or
determined prior to the end of such year will not after the end of such year be
retroactively reduced, suspended or discontinued except as may be permitted by
law.  Upon termination of the Plan or
complete discontinuance of Contributions hereunder (other than for the reason
that the Employer has had no net profits or accumulated net profits), each
Participant’s Accrued Benefit will be fully vested.  Upon termination of the Plan or a complete discontinuance of
Contributions, unclaimed amounts will be applied as forfeitures and any
unallocated amounts will be allocated to Participants who are Eligible
Employees as of the date of such termination or discontinuance on the basis of
Compensation for the Plan Year (or short Plan Year).  Upon a partial termination of the Plan, to the extent required by
law or in the sole discretion of the Plan Administrator, the Accrued Benefit of
each affected Participant will be fully vested.  In the event of termination of the Plan, the Administrator will
direct the Trustee to distribute to each Participant the entire amount of his
Accrued Benefit as soon as administratively possible, but not earlier than
would be permitted in order to retain the Plan’s qualified status under
Sections 401(a), (k) and (m) of the Code, as if all Participants who are
Employees had incurred a Severance from Service on the Plan’s termination
date.  Should a Participant or a
Beneficiary not elect immediate payment of a nonforfeitable Accrued Benefit in
excess of $5,000, the Administrator will direct the Trustee to continue the
Plan and Trust Agreement for the sole purpose of paying to such Participant his
Accrued Benefit or death benefit, respectively, unless in the opinion of the
Administrator, to make immediate single sum payments to such Participant or
Beneficiary would not adversely affect the tax qualified status of the Plan
upon termination and would not impose additional liability upon any Employer or
the Trustee.

          16.3     Plan
Merger and Spinoff.

                      (a)     General.
The Plan will not merge or consolidate with,
or transfer any assets or liabilities to any other plan, unless each person
entitled to benefits would receive a benefit immediately after the merger,
consolidation or transfer (if the Plan were then terminated) which is equal to
or greater than the benefit he would have been entitled to immediately before
the merger, consolidation or transfer (if the Plan were then terminated).  The Designated Officer will amend or take
such other action as is necessary to amend the Plan in order to satisfy the
requirements applicable to any merger, consolidation or transfer of assets and
liabilities.

62

                      (b)     Appendix.
Appendix 16.3 (i) sets forth special
provisions which apply to the merger of CH-20 CAP and Vastar CAP into the Plan
and which reflect the transfer of certain liabilities and assets from ARCO CAP
to the Plan as of the Effective Date, and (ii) may set forth such special
provisions as may apply to any other merger, consolidation or transfer of
assets and liabilities.

          16.4     Design
Decisions.  Decisions regarding the
design of the Plan (including any decision to amend or terminate, or to not amend
or terminate the Plan) will be made in a settlor capacity and will not be
governed by the fiduciary responsibility provisions of ERISA.

63

ARTICLE
XVII

SPECIAL
TOP-HEAVY RULES

          17.1     Application
of Article XVII.  This Article XVII
will apply only if the Plan is Top-Heavy, as defined below.  If, as of any Top-Heavy Determination Date,
as defined below, the Plan is Top-Heavy, the provisions of Section 17.4 will
take effect as of the first day of the Plan Year next following the Top-Heavy
Determination Date and will continue to be in effect until the first day of any
subsequent Plan Year following a Top-Heavy Determination Date as of which it is
determined that the Plan is no longer Top-Heavy.

          17.2     Definitions
Concerning Top-Heavy Status.  In
addition to the definitions set forth in Article I, the following definitions
will apply for purposes of this Article XVII, and will be interpreted in
accordance with the provisions of Section 416 of the Code:

                      (a)     Aggregation
Group - a group of Company Plans consisting of each Company Plan in the
Required Aggregation Group and each other Company Plan selected by the Company
for inclusion in the Aggregation Group that would not, by its inclusion,
prevent the group of Company Plans included in the Aggregation Group from
continuing to meet the requirements of Section 401(a)(4) and 410 of the Code.

                      (b)     Annual
Compensation - compensation for a calendar year within the meaning of
Treasury Regulation §1.415-2(d)(11)(ii) to the extent that such compensation
does not exceed the annual compensation limit in effect for the calendar year
under Section 401(a)(17) of the Code.

                      (c)     Company
Plan - any plan of any Commonly Controlled Entity that is, or that has been
determined by the Internal Revenue Service to be, qualified under Section
401(a) or 403(a) of the Code.

                      (d)     Key
Employee - any employee of any Commonly Controlled Entity who satisfies the
criteria set forth in Section 416(i)(1) of the Code.

                      (e)     Required
Aggregation Group - one or more Company Plans comprising each Company Plan
in which a Key Employee is a participant and each Company Plan that enables any
Company Plan in which a Key Employee is a participant to meet the requirements
of Section 401 (a)(4) or 410 of the Code.

                      (f)     Top-Heavy
- the Plan is included in an Aggregation Group under which, as of the Top-Heavy
Determination Date, the sum of the actuarial present value of the cumulative
accrued benefits for Key Employees under all defined benefit plans in the
Aggregation Group and the aggregate of the accounts of Key Employees under all
defined contribution plans in the Aggregation Group exceeds 60 percent of the
analogous sum determined for all employees.
The determination of whether the Plan is Top-Heavy will be made in
accordance with Section 416(g)(2)(B) of the Code.

64

                      (g)     Top-Heavy
Determination Date - the December 31 immediately preceding the Plan Year
for which the determination is made.

                      (h)     Top-Heavy
Ratio - the percentage calculated in accordance with subparagraph (f),
above, and Section 416(g)(2) of the Code.

                      (i)     Top-Heavy
Year - a Plan Year for which the Plan is Top-Heavy.

          17.3     Calculation
of Top-Heavy Ratio.  The Top-Heavy
Ratio with respect to any Plan Year will be determined in accordance with the
following rules:

                      (a)     Determination
of Accrued Benefits:  The accrued
benefit of any current Participant will be calculated, as of the most recent
valuation date that is within a 12-month period ending on the Top-Heavy
Determination Date, as if the Participant had voluntarily terminated employment
as of such valuation date.  Such
valuation date will be the same valuation date used for computing plan costs
for purposes of the minimum funding provisions of Section 412 of the Code.  Unless, as of the valuation date, the Plan
provides for a nonproportional subsidy, the actuarial present value of the
accrued benefit will reflect a retirement income commencing at age 65 (or
attained age, if later).  If, as of the
valuation date, the Plan provides for a nonproportional subsidy, the benefit
will be assumed to commence at the age at which the benefit is most valuable.

                      (b)     Aggregation.
The Plan will be aggregated with all Company
Plans included in the Aggregation Group.

          17.4     Effect
of Top-Heavy Status.

                      (a)     Minimum
Contribution.  Notwithstanding
Article III, as of the last day of each Top-Heavy Year, the Employer will make,
for each Participant, (i) the contributions it otherwise would have made under
the Plan for such Top-Heavy Year, or if greater, (ii) contributions for such
Top-Heavy Year that, when added to the contributions made by the Employer for
such Participant (and any forfeitures allocated to his Accounts) for such
Top-Heavy Year under all other defined contribution plans of any Commonly
Controlled Entity, aggregate three percent of his Annual Compensation; provided
that the Plan will meet the requirements of this subsection (a) without taking
into account Before-Tax Contributions or other employer contributions attributable
to a salary reduction or similar arrangement.

                      (b)     Inapplicability
to Union Employees.  The preceding
provisions of this Section 17.4 will not apply with respect to any employee
included in a unit of employees covered by an agreement that the Secretary of
Labor finds to be a collective bargaining agreement between employee
representatives and the Employer, if there is evidence that retirement benefits
were the subject of good faith bargaining between such employee representatives
and the Employer.

          17.5     Effect
of Discontinuance of Top-Heavy Status.
If, for any Plan Year after a Top-Heavy Year, the Plan is no longer
Top-Heavy, the provisions of Section 17.4 will not apply with respect to such
Plan Year.

65

          17.6     Intent
of Article XVII.  This Article XVII
is intended to satisfy the requirements imposed by Section 416 of the Code
and will be construed in a manner that will effectuate this intent.  This Article XVII will not be construed in a
manner that would impose requirements on the Plan that are more stringent than
those imposed by Section 416 of the Code.

66

ARTICLE
XVIII

MISCELLANEOUS
PROVISIONS

          18.1     Assignment
and Alienation.  As provided by
Section 401(a)(13) of the Code and to the extent not otherwise required by
law, no benefit provided by the Plan may be anticipated, assigned or alienated,
except:

                      (a)     to
create, assign or recognize a right to any benefit with respect to a
Participant pursuant to a QDRO, 

                      (b)     to
use a Participant’s vested Account balance as security for a loan from the Plan
which is permitted pursuant to Section 4975 of the Code, or

                      (c)     to
allow the enforcement of a federal tax levy made pursuant to Section 6331 of
the Code, or the collection by the United States on a judgment resulting from
an unpaid tax assessment.

          18.2     Protected
Benefits.  All benefits which are
protected by the terms of Section 411(d)(6) of the Code and
Section 204(g) of ERISA, which cannot be eliminated without adversely
affecting the qualified status of the Plan on and after the Effective Date,
will be provided under this Plan to Participants for whom such benefits are
protected.  The Administrator will cause
such benefits to be determined and the terms and provisions of any relevant
plan setting forth such protected benefits are incorporated herein by reference
and made a part hereof, but only to the extent such terms and provisions are so
protected.  Otherwise, they will operate
within the terms and provisions of this Plan, as determined by the
Administrator.

          18.3     Plan
Does Not Affect Employment Rights.
The Plan does not provide any employment rights to any Employee.  The Employer expressly reserves the right to
discharge an Employee at any time, with or without cause, without regard to the
effect such discharge would have upon the Employee’s interest in the Plan.

          18.4     Deduction
of Taxes from Amounts Payable.  The
Trustee will deduct from the amount to be distributed such amount as the
Administrator, in his sole discretion, deems proper to protect the Trustee and
the Plan’s assets held under the Trust Agreement against liability for the
payment of death, succession, inheritance, income, or other taxes, and out of
money so deducted, the Trustee may discharge any such liability and pay the
amount remaining to the Participant, the Beneficiary or the deceased
Participant’s estate, as the case may be.

          18.5     Facility
of Payment.  If a Member is declared
an incompetent or is a minor and a conservator, guardian, or other person
legally charged with his care has been appointed, any benefits to which such
Member is entitled will be payable to such conservator, guardian, or other
person legally charged with his care.
The decision of the Administrator in such matters will be final,
binding, and conclusive upon the Employer and the Trustee and upon each Member,
and every other person or party interested or concerned.  An Employer, the Trustee and the
Administrator will not be under any duty to see to the proper application of
such payments.

67

          18.6     Source
of Benefits.  All benefits payable
under the Plan will be paid or provided for solely from the Plan’s assets held
under the Trust Agreement and the Employers assume no liability or
responsibility therefor.

          18.7     Reduction
for Overpayment.  The Administrator
will, whenever it determines that a person has received benefit payments under
this Plan in excess of the amount to which the person is entitled under the
terms of the Plan, make a reasonable attempt to collect such overpayment from
the person.  The amount of any
overpayment may be set off against further amounts payable to or on account of
the person who received the overpayment.

          18.8     Company
Merger.  In the event any successor
corporation to the Company, by merger, consolidation, purchase or otherwise,
will elect to adopt the Plan, such successor corporation will be substituted hereunder
for the Company upon filing in writing with the Trustee its election so to do.

          18.9     Employees’
Trust.  The Plan and Trust Agreement
are created for the exclusive purpose of providing benefits to the Members of
the Plan and defraying reasonable expenses of administering the Plan.  The Plan and Trust Agreement will be
interpreted and operated in a manner consistent with their being, respectively,
a Plan described in Sections 401(a), 401(k) and 401(m) of the Code and
Trust Agreements exempt under Section 501(a) of the Code.  The Designated Officer and the Administrator
are authorized to the fullest extent allowed by law, to take whatever action
may be required to correct any such interpretational or operational violation
which would result in the Plan not being a plan described in
Sections 401(a), 401(k) and 401(m) of the Code and Trust Agreements exempt
under Section 501(a) of the Code.
At no time will the assets of the Plan be diverted from the above
purpose.

          18.10   Construction.  Unless the contrary
is plainly required by
the context, wherever any words are used herein in the masculine gender, they
will be construed as though they were also used in the feminine gender, and
vice versa; wherever any words are used herein in the singular form, they will
be construed as though they were also used in the plural form, and vice versa;
and wherever the words “herein,” “hereof,” “hereunder,” and words of similar
import are used, they will be construed to refer to the Plan in its entirety
and not only to the portion of the Plan in which they appear.  Any election, direction, notice or
designation (or similar action) to be made by a Member hereunder will be made
in such manner as is provided for by, and acceptable to, the Administrator.  No such election, direction, notice or
designation (or similar action) will be deemed to have been given to the
Administrator unless it is properly completed and delivered to the
Administrator in accordance with the procedures established by such Administrator
for such purpose, and will take effect at such time as is established by the
Administrator, which in any event will not be earlier than is administratively
possible.

          18.11   Invalidity
of Certain Provisions.  If any
provision of this Plan will be held invalid or unenforceable, such invalidity
or unenforceability will not affect any other provisions hereof and the Plan
will be construed and enforced as if such provisions, to the extent invalid or
unenforceable, had not been included.

68

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

          18.13   Governing
Law.  The Plan will be construed,
administered and regulated in accordance with the provisions of ERISA and, to
the extent not preempted thereby, in accordance with the laws of the State of
Illinois, determined without regard to its choice of law rules.

          18.14   Notice
and Information Requirements.
Except as otherwise provided in this Plan or in the Trust Agreement, the
Employer will have no duty or obligation to affirmatively disclose to any
Member, nor will any Member have any right to be advised of, any material
information regarding the Employer, at any time prior to, upon or in connection
with the Employer’s purchase, or any other distribution or transfer (or
decision to defer any such distribution) of any Company Stock or any other
stock held under the Plan.

          18.15   Abandoned
ESOP Accounts.  Effective November
30, 1989, the abandoned accounts and related assets under the Amoco Corporation
Employee Stock Ownership Plan (“ESOP”) were transferred to the Plan. To the
extent that valid claims had not been made for them on December 31, 1990, the
accounts transferred from the ESOP were forfeited on January 1, 1991. If
the Administrator determines that an individual has made a valid claim for
benefits under the ESOP, such benefits will be paid from the Plan. Such distribution
will be made from any available forfeitures under the Plan and then from
additional employer contributions if necessary.  The benefit distributed with respect to an abandoned ESOP account
will be equal to the value of the applicable account on January 1, 1991.

          18.16   Reliance
on Information Provided to Plan.
Notwithstanding anything contained herein to the contrary, if an
individual is provided a statement in confirmation of any election or
information provided to the Plan by such individual hereunder, the election or
information reflected on such confirmation statement will be deemed to be
accurate and may be conclusively relied upon for all purposes hereunder unless
the individual timely demonstrates to the Administrator, in the form and manner
established by the Administrator, that the election or information reflected on
the confirmation statement is not what the individual had originally delivered
to the Administrator.

          18.17   Recognition
of Power of Attorney.  Notwithstanding
anything in this Plan to the contrary, the Administrator may, in his
discretion, refuse to recognize any agent of a Participant who seeks to act on
behalf of such Participant pursuant to a power of attorney unless and to the
extent the power of attorney conforms with guidelines adopted by the
Administrator from time to time.

69

Executed this ____ day of ___________________, 2001.

	
   

  	
   

  	
   

  	
   

  
	
   

  	
  BP CORPORATION NORTH AMERICA INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
  

  

70

APPENDIX
1.43

TO

BP EMPLOYEE SAVINGS PLAN

LIST
OF ADOPTING COMMONLY CONTROLLED ENTITIES

	
   

  	
   

  
	
  1.

  	
  Atlantic Richfield Company

  
	
  2.

  	
  BP Amoco Chemical Company

  
	
  3.

  	
  BP America Production Company

  
	
  4.

  	
  BP Products North America Inc.

  
	
  5.

  	
  BP West Coast Products LLC

  
	
  6.

  	
  BP Pipelines (North America) Inc.

  
	
  7.

  	
  BP America Chemicals Company

  
	
  8.

  	
  BP Exploration (Alaska) Inc.

  
	
  9.

  	
  Dome Petroleum Corp.

  
	
  10.

  	
  BP Amoco Polymers Inc.

  

71

APPENDIX
1.58

TO

BP EMPLOYEE SAVINGS PLAN

CORE
INVESTMENT OPTIONS

	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Short-Terms

  	
   

  
	
   

  	
   

  	
  Money Market Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  Bond

  	
   

  	
   

  
	
   

  	
   

  	
  Bond Index Fund

  
	
   

  	
   

  	
  Bond Index Fund – Long Duration

  
	
   

  	
   

  	
  Bond Index Fund – Short Duration

  
	
   

  	
   

  	
  Income Fund (Frozen)

  
	
   

  	
   

  	
   

  
	
   

  	
  Hybrid

  
	
   

  	
   

  	
  Balanced Index Fund – Aggressive

  
	
   

  	
   

  	
  Balanced Index Fund – Conservative

  
	
   

  	
   

  	
  Balanced Index Fund – Moderate

  
	
   

  	
   

  	
   

  
	
   

  	
  Large Cap

  
	
   

  	
   

  	
  Equity Index Fund

  
	
   

  	
   

  	
  Equity Index Fund – Growth

  
	
   

  	
   

  	
  Equity Index Fund – Value

  
	
   

  	
   

  	
   

  
	
   

  	
  Mid Cap

  
	
   

  	
   

  	
  Mid-Cap Equity Index Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  Small Cap

  
	
   

  	
   

  	
  Small-Cap Equity Index Fund

  
	
   

  	
   

  	
  Small-Cap Equity Index Fund – Growth

  
	
   

  	
   

  	
  Small-Cap Equity Index Fund – Value

  
	
   

  	
   

  	
   

  
	
   

  	
  International

  
	
   

  	
   

  	
  International Equity Index Fund

  
	
   

  	
   

  	
  International Equity Index Fund – Europe

  
	
   

  	
   

  	
  International Equity Index Fund - Far East

  
	
   

  	
   

  	
   

  
	
   

  	
  Company Stock

  
	
   

  	
   

  	
  BP Stock Fund

  

72

MUTUAL
  FUND WINDOW INVESTMENT OPTIONS

	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Short-Term

  
	
   

  	
   

  	
  Fidelity Retirement Money Market Portfolio

  
	
   

  	
   

  	
   

  
	
   

  	
  Bond Funds

  
	
   

  	
   

  	
  Intermediate-Term Government

  
	
   

  	
   

  	
   

  	
  Fidelity Government Income Fund

  
	
   

  	
   

  	
   

  	
  Strong Government Securities Fund

  
	
   

  	
   

  	
   

  	
  T. Rowe Price U.S. Treasury Intermediate Bond Fund

  
	
   

  	
   

  	
   

  	
  USAA GNMA Trust

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Long-Term Government

  
	
   

  	
   

  	
   

  	
  PIMCO Long-Term U.S. Government Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Short-Term Bond

  
	
   

  	
   

  	
   

  	
  Harbor Short Duration Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Institutional Short-Intermediate Government
  Fund

  
	
   

  	
   

  	
   

  	
  PIMCO Low Duration Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Intermediate-Term Bond

  
	
   

  	
   

  	
   

  	
  Dodge & Cox Income Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Investment Grade Bond Fund

  
	
   

  	
   

  	
   

  	
  Harbor Bond Fund

  
	
   

  	
   

  	
   

  	
  INVESCO Select Income Fund

  
	
   

  	
   

  	
   

  	
  Morgan Stanley Institutional Fixed Income Portfolio

  
	
   

  	
   

  	
   

  	
  PIMCO Total Return Fund

  
	
   

  	
   

  	
   

  	
  PIMCO Total Return Fund III

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Long-Term Bond

  
	
   

  	
   

  	
   

  	
  USAA Income Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Multi-Sector Bond

  
	
   

  	
   

  	
   

  	
  Dreyfus Core Bond Fund

  
	
   

  	
   

  	
   

  	
  Janus Flexible Income Fund

  
	
   

  	
   

  	
   

  	
  T. Rowe Price Spectrum Income Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  High Yield Bond

  
	
   

  	
   

  	
   

  	
  Fidelity Capital & Income Fund

  
	
   

  	
   

  	
   

  	
  Fidelity High Income
  Fund

  
	
   

  	
   

  	
   

  	
  INVESCO High Yield Fund

  
	
   

  	
   

  	
   

  	
  Morgan Stanley Institutional High Yield Portfolio

  
	
   

  	
   

  	
   

  	
  PIMCO High Yield Fund

  

73

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Convertible Bond

  
	
   

  	
   

  	
   

  	
  Fidelity Convertible Securities Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Emerging Markets Bond

  
	
   

  	
   

  	
   

  	
  Fidelity New Markets Income Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  International Bond

  
	
   

  	
   

  	
   

  	
  Payden Global Fixed Income Fund

  
	
   

  	
   

  	
   

  	
  PIMCO Foreign Bond Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Hybrid Funds

  
	
   

  	
   

  	
  Domestic Hybrid

  
	
   

  	
   

  	
   

  	
  Calvert Social Investment Fund Balanced Portfolio

  
	
   

  	
   

  	
   

  	
  Columbia Balanced Fund, Inc.

  
	
   

  	
   

  	
   

  	
  Dreyfus Founders Balanced Fund F

  
	
   

  	
   

  	
   

  	
  Dreyfus Premier Balanced Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Balanced Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Puritan® Fund

  
	
   

  	
   

  	
   

  	
  INVESCO Total Return Fund

  
	
   

  	
   

  	
   

  	
  Janus Balanced Fund

  
	
   

  	
   

  	
   

  	
  Morgan Stanley Institutional Balanced Portfolio

  
	
   

  	
   

  	
   

  	
  Vanguard Asset Allocation Fund

  
	
   

  	
   

  	
   

  	
  Vanguard Wellesley Income Fund

  
	
   

  	
   

  	
   

  	
  Vanguard Wellington Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Large Cap U.S. Stock Funds

  
	
   

  	
   

  	
  Large Cap Value

  
	
   

  	
   

  	
   

  	
  American Century Equity Growth Fund

  
	
   

  	
   

  	
   

  	
  American Century Income & Growth Fund

  
	
   

  	
   

  	
   

  	
  American Funds American Mutual Fund

  
	
   

  	
   

  	
   

  	
  Clipper Fund

  
	
   

  	
   

  	
   

  	
  Dreyfus Premier Strategies Value Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Equity-Income Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Equity-Income II Fund

  
	
   

  	
   

  	
   

  	
  American Funds Fundamental Investors

  
	
   

  	
   

  	
   

  	
  INVESCO Value Equity Fund

  
	
   

  	
   

  	
   

  	
  American Funds Investment Company of America

  
	
   

  	
   

  	
   

  	
  Legg Mason Value Trust, Inc.

  
	
   

  	
   

  	
   

  	
  Morgan Stanley Institutional Equity Portfolio

  
	
   

  	
   

  	
   

  	
  T. Rowe Price Equity Income Fund, Inc.

  
	
   

  	
   

  	
   

  	
  Vanguard Equity Income Fund

  
	
   

  	
   

  	
   

  	
  Vanguard Growth and Income Fund

  
	
   

  	
   

  	
   

  	
  Vanguard Windsor Fund

  
	
   

  	
   

  	
   

  	
  Vanguard Windsor II Fund

  
	
   

  	
   

  	
   

  	
  CS Warburg Pincus Value Fund II

  
	
   

  	
   

  	
   

  	
  American Funds Washington Mutual Investors Fund

  

74

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Large Cap Blend

  
	
   

  	
   

  	
   

  	
  AIM Blue Chip Fund

  
	
   

  	
   

  	
   

  	
  Domini Social Equity Fund

  
	
   

  	
   

  	
   

  	
  Dreyfus Appreciation Fund, Inc.

  
	
   

  	
   

  	
   

  	
  Dreyfus Disciplined Stock Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Blue Chip Growth Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Disciplined Equity Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Dividend Growth Fund

  
	
   

  	
   

  	
   

  	
  Fidelity FiftyTM

  
	
   

  	
   

  	
   

  	
  Fidelity FundTM

  
	
   

  	
   

  	
   

  	
  Fidelity TechnoQuant® Growth Fund

  
	
   

  	
   

  	
   

  	
  INVESCO Equity Income Fund

  
	
   

  	
   

  	
   

  	
  Morgan Stanley Dean Witter Institutional Fund, Inc.
  –
Equity Growth Portfolio Class A

  
	
   

  	
   

  	
   

  	
  PIMCO StocksPLUS Fund

  
	
   

  	
   

  	
   

  	
  T. Rowe Price Blue Chip Growth Fund

  
	
   

  	
   

  	
   

  	
  T. Rowe Price Dividend Growth Fund

  
	
   

  	
   

  	
   

  	
  T. Rowe Price Growth Stock Fund

  
	
   

  	
   

  	
   

  	
  USAA Growth Fund

  
	
   

  	
   

  	
   

  	
  Vanguard PRIMECAP Fund

  
	
   

  	
   

  	
   

  	
  CS Warburg Pincus Capital Appreciation Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Large Cap Growth

  
	
   

  	
   

  	
   

  	
  Alger Capital Appreciation Retirement Portfolio

  
	
   

  	
   

  	
   

  	
  Columbia Growth Fund

  
	
   

  	
   

  	
   

  	
  Dreyfus Founders Growth Fund F

  
	
   

  	
   

  	
   

  	
  Dreyfus Premier Third Century Fund, Inc.

  
	
   

  	
   

  	
   

  	
  Dreyfus Premier Worldwide Growth Fund, Inc.

  
	
   

  	
   

  	
   

  	
  Fidelity Growth Company Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Large Cap Stock Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Independence Fund

  
	
   

  	
   

  	
   

  	
  Harbor Capital Appreciation Fund

  
	
   

  	
   

  	
   

  	
  INVESCO Blue Chip Growth Fund

  
	
   

  	
   

  	
   

  	
  Janus Fund

  
	
   

  	
   

  	
   

  	
  Janus Growth and Income Fund

  
	
   

  	
   

  	
   

  	
  Janus Twenty Fund

  
	
   

  	
   

  	
   

  	
  Merrill Lynch Fundamental Growth Fund, Inc.

  
	
   

  	
   

  	
   

  	
  Papp America – Abroad Fund

  
	
   

  	
   

  	
   

  	
  Putnam Investors Fund A

  
	
   

  	
   

  	
   

  	
  Scudder Large Company Growth Fund

  
	
   

  	
   

  	
   

  	
  Strong Large Cap Growth Fund

  
	
   

  	
   

  	
   

  	
  Vanguard U.S. Growth Fund

  

75

	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Medium Cap U.S. Stock Funds

  
	
   

  	
   

  	
  Medium Cap Value

  
	
   

  	
   

  	
   

  	
  American Century Equity Income Fund

  
	
   

  	
   

  	
   

  	
  American Century Value Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Value Fund

  
	
   

  	
   

  	
   

  	
  Strong Opportunity Fund

  
	
   

  	
   

  	
   

  	
  Strong Multi-Cap Value Fund

  
	
   

  	
   

  	
   

  	
  T. Rowe Price Value Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Medium Cap Blend

  
	
   

  	
   

  	
   

  	
  Ariel Appreciation Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Capital Appreciation Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Trend Fund

  
	
   

  	
   

  	
   

  	
  Legg Mason Special Investment Trust, Inc.

  
	
   

  	
   

  	
   

  	
  Montgomery Global 20 Funds® – Class R

  
	
   

  	
   

  	
   

  	
  Neuberger Berman Socially Responsive Trust

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Medium Cap Growth

  
	
   

  	
   

  	
   

  	
  Alger MidCap Growth Retirement Portfolio

  
	
   

  	
   

  	
   

  	
  Alger Small Cap Retirement Portfolio

  
	
   

  	
   

  	
   

  	
  Baron Asset Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Aggressive Growth Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Export and Multinational Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Mid-Cap Stock Fund

  
	
   

  	
   

  	
   

  	
  Fidelity OTC Portfolio

  
	
   

  	
   

  	
   

  	
  INVESCO Dynamics Fund

  
	
   

  	
   

  	
   

  	
  Morgan Stanley Institutional Mid Cap Growth
  Portfolio

  
	
   

  	
   

  	
   

  	
  Strong Growth Fund

  
	
   

  	
   

  	
   

  	
  T. Rowe Price Mid-Cap Growth Fund

  
	
   

  	
   

  	
   

  	
  CS Warburg Pincus Emerging Growth Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Small Cap U.S. Stock Funds

  
	
   

  	
   

  	
  Small Cap Value

  
	
   

  	
   

  	
   

  	
  Franklin Balance Sheet Investment Fund Class A

  
	
   

  	
   

  	
   

  	
  PIMCO Small-Cap Value Fund

  
	
   

  	
   

  	
   

  	
  CS Warburg Pincus Small Company Value Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Small Cap Blend

  
	
   

  	
   

  	
   

  	
  Liberty Acorn Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Small Cap Selector

  
	
   

  	
   

  	
   

  	
  Morgan Stanley Institutional Small Cap Value
  Portfolio

  
	
   

  	
   

  	
   

  	
  Neuberger Berman Genesis Trust

  
	
   

  	
   

  	
   

  	
  PIMCO Micro-Cap Growth Fund

  
	
   

  	
   

  	
   

  	
  T. Rowe Price Small-Cap Stock Fund

  

76

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Small Cap Growth

  
	
   

  	
   

  	
   

  	
  Baron Growth Fund

  
	
   

  	
   

  	
   

  	
  Delaware Trend Fund

  
	
   

  	
   

  	
   

  	
  Dreyfus Founders Discovery Fund F

  
	
   

  	
   

  	
   

  	
  Franklin Small Cap Growth Fund I – Class A

  
	
   

  	
   

  	
   

  	
  INVESCO Small Company Growth Fund

  
	
   

  	
   

  	
   

  	
  Managers Special Equity Fund

  
	
   

  	
   

  	
   

  	
      Morgan Stanley Dean Witter Institutional Fund, Inc.
  – 

  
	
   

  	
   

  	
   

  	
          Small Company Growth

  
	
   

  	
   

  	
   

  	
          Portfolio Class B

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Specialty U.S. Stock Funds

  
	
   

  	
   

  	
  Specialty-Health Care

  
	
   

  	
   

  	
   

  	
  INVESCO Health Sciences Fund

  
	
   

  	
   

  	
   

  	
  T. Rowe Price Health Sciences

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Specialty-Real Estate

  
	
   

  	
   

  	
   

  	
  Cohen & Steers Realty Shares

  
	
   

  	
   

  	
   

  	
  Fidelity Real Estate Investment Portfolio

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Specialty Technology

  
	
   

  	
   

  	
   

  	
  Morgan Stanley Dean Witter Institutional Fund, Inc.
  – 

  
	
   

  	
   

  	
   

  	
  Technology Portfolio

  
	
   

  	
   

  	
   

  	
  Class A

  
	
   

  	
   

  	
   

  	
  MunderNetNet

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  PBGH Technology & Communications Fund

  
	
   

  	
   

  	
   

  	
  PIMCO Innovation Institutional Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Specialty-Utilities

  
	
   

  	
   

  	
   

  	
  Fidelity Utilities Fund

  
	
   

  	
   

  	
   

  	
  INVESCO Utilities Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  International Stock Funds

  
	
   

  	
   

  	
  Foreign Stock

  
	
   

  	
   

  	
   

  	
  American Century International Growth Fund

  
	
   

  	
   

  	
   

  	
  Deutsche International Equity Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Aggressive International Fund­*

  
	
   

  	
   

  	
   

  	
  Fidelity Diversified International Fund

  
	
   

  	
   

  	
   

  	
  Fidelity International Growth & Income Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Overseas Fund

  
	
   

  	
   

  	
   

  	
  GAM International Fund A

  
	
   

  	
   

  	
   

  	
  J.P. Morgan Institutional International Equity Fund

  
	
   

  	
   

  	
   

  	
  Lazard International Equity Portfolio

  

*
Formerly known as Fidelity International Value Fund

77

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Managers International Equity Fund

  
	
   

  	
   

  	
   

  	
  Putnam International Growth Fund A

  
	
   

  	
   

  	
   

  	
  Templeton Foreign Fund A

  
	
   

  	
   

  	
   

  	
  CS Warburg Pincus International Equity Fund

  
	
   

  	
   

  	
   

  	
  Europe Stock

  
	
   

  	
   

  	
   

  	
  Fidelity Europe Capital Appreciation Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Europe Fund

  
	
   

  	
   

  	
   

  	
  INVESCO European Fund

  
	
   

  	
   

  	
   

  	
  Merrill Lynch EuroFund

  
	
   

  	
   

  	
   

  	
  Putnam Europe Growth Fund A

  
	
   

  	
   

  	
   

  	
  T. Rowe Price European Stock Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  International Hybrid

  
	
   

  	
   

  	
   

  	
  AIM Global Growth A Fund (renamed as of June 9,
  2000)

  
	
   

  	
   

  	
   

  	
  Fidelity Global Balanced Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Latin America Stock

  
	
   

  	
   

  	
   

  	
  Fidelity Latin America Fund

  
	
   

  	
   

  	
   

  	
  Scudder Latin America Fund

  
	
   

  	
   

  	
   

  	
  T. Rowe Price Latin America Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Diversified Pacific Asia Stock

  
	
   

  	
   

  	
   

  	
  Fidelity Pacific Basin Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Southeast Asia Fund

  
	
   

  	
   

  	
   

  	
  Merrill Lynch Pacific Fund, Inc.

  
	
   

  	
   

  	
   

  	
  Putnam Asia Pacific Growth Fund A

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Japan Stock

  
	
   

  	
   

  	
   

  	
  Fidelity Japan Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Diversified Emerging Markets Stock

  
	
   

  	
   

  	
   

  	
  Fidelity Emerging Markets Fund

  
	
   

  	
   

  	
   

  	
  Lazard Emerging Markets Portfolio

  
	
   

  	
   

  	
   

  	
  Templeton Developing Markets Trust A

  
	
   

  	
   

  	
   

  	
  Templeton Institutional Funds, Inc. – Emerging
  Markets

  
	
   

  	
   

  	
   

  	
  Series

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  World Stock

  
	
   

  	
   

  	
   

  	
  American Funds Capital World Growth and Income Fund

  
	
   

  	
   

  	
   

  	
  Janus Worldwide Fund

  
	
   

  	
   

  	
   

  	
  Mutual Discovery Fund Class A

  
	
   

  	
   

  	
   

  	
  American Funds New Perspective Fund

  
	
   

  	
   

  	
   

  	
  Putnam Global Growth Fund A

  
	
   

  	
   

  	
   

  	
  Templeton Growth Fund, Inc. A

  
	
   

  	
   

  	
   

  	
  Templeton World Fund A

  

78

	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Hybrid Asset Allocation Funds

  
	
   

  	
   

  	
   

  	
  Fidelity Freedom Income® Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Freedom 2000® Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Freedom 2010® Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Freedom 2020® Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Freedom 2030® Fund

  

79

APPENDIX
16.3

TO

BP EMPLOYEE SAVINGS PLAN

SUPPLEMENT A

          16.3(a) Purpose.
The purpose of this Supplement A is to set
forth the special provisions (not otherwise set forth in the Plan) which apply
to the Participants in ARCO CAP (other than represented employees as of
December 31, 2001, employed at the Los Angeles Refinery plant), CH-20 CAP and
Vastar CAP immediately prior to the Effective Date, and including Alternative
Payees and eligible Beneficiaries of such persons (collectively, the “CAP Participants”),
notwithstanding any other provisions of the Plan to the contrary.

          (b)           Accounts.
As of the Effective Date, each CAP
Participant will have allocated and posted to the Accounts under the Plan the
amounts credited to such CAP Participant’s accounts under ARCO CAP, CH-20 CAP
or Vastar CAP, whichever is applicable, in accordance with the following
Schedule:

	
 

	
 

	
 

	
 

	
 

	
 

	
CAP
  Account

	
 

	
Plan
  Account

	
 

	
 

	

	
 

	

	
 

	
 

	
 

	
 

	
 

	
Member Contributions subaccount

	
After-Tax Account

	
 

	
Elective Deferrals subaccount

	
Before-Tax Account

	
 

	
Matching Contributions subaccount

	
Match Account

	
 

	
Rollover subaccount

	
Rollover Account

          (c)           Service.
For periods prior to the Effective Date, the
determination of a Participant’s Service will be made pursuant to the records
of ARCO CAP, CH-20 CAP or Vastar CAP immediately prior to the Effective Date.

          (d)           Investment
and Contribution Elections and Beneficiary Designation.  Notwithstanding anything to the contrary,
any investment election, contribution election or beneficiary designation duly
filed, and not otherwise revoked, under ARCO CAP, CH-20 CAP or Vastar CAP
immediately before the Effective Date will continue in effect as a valid
Investment Election, Contribution Election or Beneficiary designation under the
Plan until the earliest of: (1) the effective date of a new Investment
Election, Contribution Election or Beneficiary designation; or (2) the
date the individual ceases to be a Participant.

80

FIRST
AMENDMENT

OF

BP EMPLOYEE SAVINGS PLAN

(As Amended and Restated Effective as
of January 1, 2002)

          WHEREAS,
BP Corporation North America Inc. (the “Corporation”) maintains the BP Employee
Savings Plan (the “Plan”);

          WHEREAS,
the Plan has been amended and restated and further amendment of the Plan is now
considered desirable; 

          WHEREAS,
pursuant to the power delegated to a Designated Officer under Section 16.1 of
the Plan, the Senior Vice President, Human Resources, as a Designated officer
of the Corporation, has the authority to amend the Plan;   and

          WHEREAS,
in all other respects, the Plan, as amended, will continue in full force and
effect.

          NOW,
THEREFORE,  the Senior Vice President,
Human Resources of the Corporation hereby amends the Plan in the following
particulars:

     1. Effective February 1,
2002, by substituting the following for
Section 1.60 of the Plan:

	
 

	
 

	
 

	
     “1.60 ‘Money Market
  Fund’ means the Investment Option designated as the Short-Term
  Investments Fund by the Administrator.”

     2. Effective May 1,
2002, by substituting the following for
Section 1.28 of the Plan:

	
 

	
 

	
 

	
     “1.28
‘Compensation’
  For purposes of Article III:

	
 

	
 

	
 

	
      (a) except to the
  extent otherwise provided in subsection (b) below, ‘Compensation’ means amounts
  that are paid directly by an Employer for personal services and that:

	
 

	
 

	
 

	
     (1)     are
  paid to an Eligible Employee (except to the extent otherwise provided in
  subsection (a)(2)(F), below);  and

	
 

	
 

	
 

	
     (2)     fall
  in one of the following categories:

81

	
 

	
 

	
 

	
               (A)     basic
  salary or wages, including forms of base pay delivered in alternative forms
  such as piecework, payment by mileage for drivers, overtime, and shift and
  rate differentials;

	
 

	
 

	
 

	
               (B)     pay
  in lieu of vacation;

	
 

	
 

	
 

	
               (C)     commissions;

	
 

	
 

	
 

	
               (D)     bonus
  payments made under an annual incentive plan at the business unit or stream
  level (other than bonus payments made prior to the time that payments are
  made to similarly situated active Employees of the business unit or stream in
  connection with an Employee’s termination of employment);

	
 

	
 

	
 

	
               (E)     lump-sum
  performance awards awarded in connection with annual salary administration;
  or

	
 

	
 

	
 

	
               (F)     amounts
  that: (i)  are contributed, at the
  election of an Eligible Employee, on behalf of the Eligible Employee to a
  cafeteria plan or a cash or deferred arrangement and not included in the
  Eligible Employee’s gross income for federal income tax purposes by reason of
  Sections 125, 132(f) or 402(e)(3) of the Code and (ii) would, were it not for
  the Eligible Employee’s election, (I) meet the requirement imposed by
  subsection (a)(1), above, and (II) fall in one of the categories listed in
  subparagraphs (A) through (E) of this subsection (a)(2);  and

	
 

	
 

	
 

	
     (3)     do
  not fall in any of the following categories:

	
 

	
 

	
 

	
               (A)     sign-on,
  retention, or ratification payments;

	
 

	
 

	
 

	
               (B)     severance
  or separation payments;

	
 

	
 

	
 

	
               (C)     spot
  awards, reward and recognition payments or any other comparable payments;

	
 

	
 

	
 

	
               (D)     remuneration
  received attributable to moving or educational expenses;

	
 

	
 

	
 

	
               (E)     expense
  allowances, or premium pay based on an Employee’s worksite;

	
 

	
 

	
 

	
               (F)     tax
  reimbursements;

82

	
 

	
 

	
 

	
               (G)     payments
  made pursuant to an employment contract or bonus plan under which such
  payments are not intended to be Compensation hereunder;

	
 

	
 

	
 

	
               (H)     payments
  in excess of amounts paid pursuant to subsection (a)(2)(A) above, made to
  compensate an Employee for having to work during all or part of the 60-day
  period following notice in connection with a severance or separation program;
  or

	
 

	
 

	
 

	
               (I)     awards
  under the 1998 Share Option Plan (or any other income under any equity-based
  plan);

	
 

	
 

	
 

	
               (J)     awards
  under the BP Long Term Performance Plan; and

	
 

	
 

	
 

	
               (K)     any
  other remuneration not described in subparagraphs (A) through (F) of
  subsection (a)(2), above.

	
 

	
 

	
 

	
(b)     For purposes of the
  definition of ‘Compensation’ hereunder:

	
 

	
 

	
 

	
          (1)     except
  with respect to items of ‘Compensation’ referred to in Section 1.28(a)(2)(B)
  and (b)(3), no amount will be considered ‘Compensation’ hereunder if: (A) it
  is payable after an individual’s Severance from Service, or (B) if it is
  actually paid later than 30 days following an individual’s Severance from
  Service even if such amount would have been considered ‘Compensation’ if it
  were paid while the individual was an Eligible Employee;

	
 

	
 

	
 

	
          (2)     an
  amount that should have been paid in a manner that met the requirements
  imposed by this Section 1.28 (as modified by subsection (b)(1), above), but
  that was mistakenly paid in a different manner, will be treated as meeting
  the requirements imposed by this Section 1.28;

	
 

	
 

	
 

	
          (3)     all
  amounts paid in settlement (including, but not limited to, amounts paid for
  front and back pay and emotional distress) to an Eligible Employee will be
  excluded from the definition of ‘Compensation’ hereunder unless otherwise
  ordered pursuant to the final decision of the presiding court, arbitrator, or
  administrative agency after all available appeals have been exhausted; and

	
 

	
 

	
 

	
          (4)     if
  it is not entirely clear whether an item of remuneration meets the
  requirements of subsection (a)(2) or (a)(3), above, the Administrator, in his
  sole discretion, will determine whether the item meets the requirements of
  such subsection (a)(2) or (a)(3), above.

	
 

	
 

	
 

	
(c)     In addition to
  other applicable limitations that may be set forth in the 

83

	
 

	
 

	
 

	
Plan, and notwithstanding any other contrary
  provision of the Plan, annual Compensation taken into account under the Plan
  for the purpose of calculating the Contributions to the Plan by or in respect
  of a Participant for any Plan Year will not exceed the applicable
  compensation limit under Section 401(a)(17) of the Code, as adjusted.”

*     *     *     *     *

          I,
Donald Packham, Vice President, Human Resources of the Corporation, hereby
approve and adopt the foregoing amendment to the Plan.

	
 

	
 

	
 

	
Dated this 22nd day of April, 2002

	
 

	
 

	
 

	

	
 

	
Senior Vice President, Human Resources

  BP Corporation North America Inc.

84

SECOND
AMENDMENT

OF

BP
EMPLOYEE SAVINGS PLAN

(As Amended and Restated Effective as
of January 1, 2002)

          WHEREAS,
BP Corporation North America Inc. (the “Corporation”) maintains the BP Employee
Savings Plan (the “Plan”);

          WHEREAS,
the Plan has previously been amended and further amendment of the Plan now is
considered desirable; and

          WHEREAS,
pursuant to the power delegated to a Designated Officer under Section 16.1 of
the Plan, the Senior Vice President, Human Resources, as a Designated officer
of the Corporation, has the authority to amend the Plan; and

          WHEREAS,
in all other respects, the Plan, as amended, will continue in full force and
effect.

          NOW,
THEREFORE, the Senior Vice President, Human Resources, of the Corporation
hereby amends the Plan, in the following particulars:

          1.    Effective
as of June 1, 2002, by substituting the following for Appendix 1.58 of the
Plan:

“APPENDIX 1.58

TO

BP EMPLOYEE SAVINGS PLAN

CORE INVESTMENT OPTIONS

	
 

	
 

	
         Short-Term

	
 

	
Short-Term Investments Fund

	
 

	
 

	
         Bond

	
 

	
Bond Index Fund

85

	
 

	
 

	
 

	
Bond Index Fund - Long Duration

	
 

	
Bond Index Fund - Short Duration

	
 

	
Income Fund

	
 

	
 

	
         Hybrid

	
 

	
Balanced Index Fund – Aggressive

	
 

	
Balanced Index Fund – Conservative

	
 

	
Balanced Index Fund – Moderate

	
 

	
 

	
         Large
  Cap

	
 

	
Equity Index Fund

	
 

	
Equity Index Fund – Growth

	
 

	
Equity Index Fund – Value

	
 

	
 

	
         Mid
  Cap

	
 

	
Mid-Cap Equity Index Fund

	
 

	
 

	
         Small
  Cap

	
 

	
Small-Cap Equity Index Fund

	
 

	
Small-Cap Equity Index Fund – Growth

	
 

	
Small-Cap Equity Index Fund – Value

	
 

	
 

	
         International

	
 

	
International Equity Index Fund

	
 

	
International Equity Index Fund – Europe

	
 

	
International Equity Index Fund – Far East

	
 

	
 

	
         Company
  Stock

	
 

	
BP Stock Fund

MUTUAL FUND WINDOW INVESTMENT
OPTIONS

	
 

	
 

	
         Short-Term

	
 

	
                    Fidelity
  Retirement Money Market Portfolio

	
                    Fidelity
  Spartan U.S. Treasury Money Market Fund

	
 

	
 

	
         Bond
  Funds

	
 

	
                    Intermediate-Term
  Government

	
 

	
Fidelity Government Income Fund

	
 

	
Strong Government Securities Fund

	
 

	
T. Rowe Price U.S. Treasury Intermediate Bond Fund

	
 

	
USAA GNMA Trust

	
 

	
 

	
                    Long-Term
  Government

	
 

	
PIMCO Long-Term U.S. Government Fund

86

	
 

	
 

	
                    Short-Term
  Bond

	
 

	
Harbor Short Duration Fund

	
 

	
Fidelity Institutional Short-Intermediate Government
  Fund

	
 

	
PIMCO Low Duration Fund

	
 

	
 

	
                    Intermediate-Term
  Bond

	
 

	
Dodge & Cox Income Fund

	
 

	
Fidelity Investment Grade Bond Fund

	
 

	
Harbor Bond Fund

	
 

	
INVESCO Select Income Fund

	
 

	
Morgan Stanley Institutional Fixed Income Portfolio

	
 

	
PIMCO Total Return Fund

	
 

	
PIMCO Total Return Fund III

	
 

	
 

	
                    Long-Term
  Bond

	
 

	
USAA Income Fund

	
 

	
 

	
                    Multi-Sector
  Bond

	
 

	
Dreyfus Core Bond Fund

	
 

	
Janus Flexible Income Fund

	
 

	
T. Rowe Price Spectrum Income Fund

	
 

	
 

	
                    High
  Yield Bond

	
 

	
Fidelity Capital & Income Fund

	
 

	
Fidelity High Income Fund

	
 

	
INVESCO High Yield Fund

	
 

	
Morgan Stanley Institutional High Yield Portfolio

	
 

	
PIMCO High Yield Fund

	
 

	
 

	
                    Convertible
  Bond

	
 

	
Fidelity Convertible Securities Fund

	
 

	
Calamos Convertible Fund – Class A

	
 

	
 

	
                    Emerging
  Markets Bond

	
 

	
Fidelity New Markets Income Fund

	
 

	
 

	
                    International
  Bond

	
 

	
Payden Global Fixed Income Fund

	
 

	
PIMCO Foreign Bond Fund

	
 

	
 

	
         Hybrid
  Funds

87

	
 

	
 

	
                    Domestic
  Hybrid

	
 

	
Calvert Social Investment Fund Balanced Portfolio

	
 

	
Columbia Balanced Fund, Inc.

	
 

	
Dreyfus Founders Balanced Fund F

	
 

	
Dreyfus Premier Balanced Fund

	
 

	
Fidelity Balanced Fund

	
 

	
Fidelity Puritan® Fund

	
 

	
INVESCO Total Return Fund

	
 

	
Janus Balanced Fund

	
 

	
Morgan Stanley Institutional Balanced Portfolio

	
 

	
Vanguard Asset Allocation Fund

	
 

	
Vanguard Wellesley Income Fund

	
 

	
Vanguard Wellington Fund

	
 

	
 

	
         Large
  Cap U.S. Stock Funds

	
                    Large
  Cap Value

	
 

	
American Century Equity Growth Fund

	
 

	
American Century Income & Growth Fund

	
 

	
American Funds American Mutual Fund

	
 

	
American Funds Investment Company of America

	
 

	
American Funds Washington Mutual Investors Fund 

	
 

	
Clipper Fund

	
 

	
Credit Suisse Large Cap Value Fund

	
 

	
Dreyfus Aggressive Value Fund

	
 

	
Fidelity Equity-Income Fund

	
 

	
Fidelity Equity-Income II Fund

	
 

	
Fundamental Investors

	
 

	
INVESCO Value Equity Fund

	
 

	
Legg Mason Value Trust, Inc.

	
 

	
Morgan Stanley Institutional Equity Portfolio

	
 

	
T. Rowe Price Equity Income Fund, Inc.

	
 

	
Vanguard Equity Income Fund

	
 

	
Vanguard Growth and Income Fund

	
 

	
Vanguard Windsor Fund

	
 

	
Vanguard Windsor II Fund

	
 

	
 

	
                    Large
  Cap Blend

	
 

	
AIM Blue Chip Fund

	
 

	
Credit Suisse Capital Appreciation Fund

	
 

	
Domini Social Equity Fund

	
 

	
Dreyfus Appreciation Fund, Inc.

	
 

	
Dreyfus Disciplined Stock Fund

	
 

	
Fidelity Blue Chip Growth Fund

	
 

	
Fidelity Disciplined Equity Fund

	
 

	
Fidelity Dividend Growth Fund

88

	
 

	
 

	
 

	
Fidelity Fiftysm

	
 

	
Fidelity Fund

	
 

	
Fidelity TechnoQuant® Growth Fund

	
 

	
INVESCO Equity Income Fund

	
 

	
Morgan Stanley Dean Witter Institutional Fund, Inc.
  – 

	
 

	
          Equity
  Growth Portfolio Class A

	
 

	
PIMCO StocksPLUS Fund

	
 

	
T. Rowe Price Blue Chip Growth Fund

	
 

	
T. Rowe Price Dividend Growth Fund

	
 

	
T. Rowe Price Growth Stock Fund

	
 

	
USAA Growth Fund

	
 

	
Vanguard PRIMECAP Fund

	
 

	
 

	
                    Large
  Cap Growth

	
 

	
Alger Capital Appreciation Retirement Portfolio

	
 

	
Columbia Growth Fund

	
 

	
Dreyfus Founders Growth Fund F

	
 

	
Dreyfus Premier Third Century Fund, Inc.

	
 

	
Dreyfus Premier Worldwide Growth Fund, Inc.

	
 

	
Fidelity Growth Company Fund

	
 

	
Fidelity Large Cap Stock Fund

	
 

	
Fidelity Retirement Growth Fund

	
 

	
Harbor Capital Appreciation Fund

	
 

	
INVESCO Blue Chip Growth Fund

	
 

	
Janus Fund

	
 

	
Janus Growth and Income Fund

	
 

	
Janus Twenty Fund

	
 

	
Merrill Lynch Fundamental Growth Fund, Inc.

	
 

	
Papp America – Abroad Fund

	
 

	
Putnam Investors Fund A

	
 

	
Scudder Large Company Growth Fund

	
 

	
Strong Large Cap Growth Fund

	
 

	
Vanguard U.S. Growth Fund

	
 

	
 

	
         Medium
  Cap U.S. Stock Funds

	
                    Medium
  Cap Value

	
 

	
American Century Equity Income Fund

	
 

	
American Century Value Fund

	
 

	
Fidelity Value Fund

	
 

	
Strong Opportunity Fund

	
 

	
Strong Multi-Cap Value Fund

	
 

	
T. Rowe Price Value Fund

	
 

	
 

	
                    Medium
  Cap Blend

89

	
 

	
 

	
 

	
Ariel Appreciation Fund

	
 

	
Fidelity Capital Appreciation Fund

	
 

	
Fidelity Trend Fund

	
 

	
Legg Mason Special Investment Trust, Inc.

	
 

	
Montgomery Global 20 Fund® – Class
R

	
 

	
Neuberger Berman Socially Responsive Trust

	
 

	
 

	
                    Medium
  Cap Growth

	
 

	
Alger MidCap Growth Retirement Portfolio

	
 

	
Alger Small Cap Retirement Portfolio

	
 

	
Baron Asset Fund

	
 

	
Credit Suisse Emerging Growth Fund

	
 

	
Fidelity Aggressive Growth Fund

	
 

	
Fidelity Export and Multinational Fund

	
 

	
Fidelity Mid-Cap Stock Fund

	
 

	
Fidelity OTC Portfolio

	
 

	
INVESCO Dynamics Fund

	
 

	
MAS Mid Cap Growth Portfolio

	
 

	
Strong Growth Fund

	
 

	
T. Rowe Price Mid-Cap Growth Fund

	
 

	
 

	
         Small
  Cap U.S. Stock Funds

	
                    Small
  Cap Value

	
 

	
Credit Suisse Small Cap Value Fund

	
 

	
Franklin Balance Sheet Investment Fund Class A

	
 

	
PIMCO Small-Cap Value Fund

	
 

	
 

	
                    Small
  Cap Blend

	
 

	
Fidelity Small Cap Selector

	
 

	
Liberty Acorn Fund

	
 

	
Morgan Stanley Institutional Small Cap Value
  Portfolio

	
 

	
Neuberger Berman Genesis Trust

	
 

	
PIMCO Micro-Cap Growth Fund

	
 

	
T. Rowe Price Small-Cap Stock Fund

	
 

	
 

	
                    Small
  Cap Growth

	
 

	
Baron Growth Fund

	
 

	
Delaware Trend Fund

	
 

	
Dreyfus Founders Discovery Fund F

	
 

	
Franklin Small Cap Growth Fund I – Class A

	
 

	
INVESCO Small Company Growth Fund

	
 

	
Managers Special Equity Fund

	
 

	
Morgan Stanley Dean Witter Institutional Fund, Inc.
  – 

	
 

	
          Small
  Company Growth Portfolio Class B

90

	
 

	
 

	
         Specialty
  U.S. Stock Funds

	
                    Specialty-Health
  Care

	
 

	
INVESCO Health Sciences Fund

	
 

	
T. Rowe Price Health Sciences

	
 

	
 

	
                    Specialty-Natural
  Resources

	
 

	
T. Rowe Price New Era Fund

	
 

	
 

	
                    Specialty-Real
  Estate

	
 

	
Cohen & Steers Realty Shares

	
 

	
Fidelity Real Estate Investment Portfolio

	
 

	
 

	
                    Specialty
  Technology

	
 

	
Morgan Stanley Dean Witter Institutional Fund, Inc.
  –

	
                    Technology
  Portfolio Class A

	
 

	
MunderNetNet

	
                    PBGH
  Technology & Communications Fund

	
 

	
PIMCO Innovation Institutional Fund

	
 

	
 

	
                    Specialty-Utilities

	
 

	
Fidelity Utilities Fund

	
 

	
INVESCO Utilities Fund

	
 

	
 

	
         International
  Stock Funds

	
                    Foreign
  Stock

	
 

	
American Century International Growth Fund

	
 

	
Credit Suisse International Equity Fund

	
 

	
Deutsche International Equity Fund

	
 

	
Fidelity Aggressive International Fund

	
 

	
Fidelity Diversified International Fund

	
 

	
Fidelity International Growth & Income Fund

	
 

	
Fidelity Overseas Fund

	
 

	
GAM International Fund A

	
 

	
J.P. Morgan Institutional International Equity Fund

	
 

	
Lazard International Equity Portfolio

	
 

	
Managers International Equity Fund

	
 

	
Putnam International Growth Fund A

	
 

	
Templeton Foreign Fund A

	
 

	
 

	
                    Europe
  Stock

	
 

	
Fidelity Europe Capital Appreciation Fund

	
 

	
Fidelity Europe Fund

	
 

	
INVESCO European Fund

	
 

	
Merrill Lynch EuroFund

91

	
 

	
 

	
 

	
Putnam Europe Growth Fund A

	
 

	
T. Rowe Price European Stock Fund

	
 

	
 

	
                    International
  Hybrid

	
 

	
AIM Global Growth A Fund

	
 

	
Fidelity Global Balanced Fund

	
 

	
 

	
                    Latin
  America Stock

	
 

	
Fidelity Latin America Fund

	
 

	
Scudder Latin America Fund

	
 

	
T. Rowe Price Latin America Fund

	
 

	
 

	
                    Diversified
  Pacific Asia Stock

	
 

	
Fidelity Pacific Basin Fund

	
 

	
Fidelity Southeast Asia Fund

	
 

	
Merrill Lynch Pacific Fund, Inc.

	
 

	
Putnam Asia Pacific Growth Fund A

	
 

	
 

	
                    Pacific/Asia
  Ex Japan Stock

	
 

	
AIM Asian Growth Fund A

	
 

	
Scudder Pacific Opportunities Fund – Class S

	
 

	
 

	
                    Japan
  Stock

	
 

	
Fidelity Japan Fund

	
 

	
The Japan Fund, Inc. - Class S

	
 

	
 

	
                    Diversified
  Emerging Markets Stock

	
 

	
Fidelity Emerging Markets Fund

	
 

	
Lazard Emerging Markets Portfolio

	
 

	
Templeton Developing Markets Trust A

	
 

	
Templeton Institutional Funds, Inc. – Emerging
  Markets Series

	
 

	
 

	
                    World Stock

	
 

	
American Funds Capital World Growth and Income Fund

	
 

	
American Funds New Perspective Fund

	
 

	
Janus Worldwide Fund

	
 

	
Mutual Discovery Fund Class A

	
 

	
Putnam Global Growth Fund A

	
 

	
Templeton Growth Fund, Inc. A

	
 

	
Templeton World Fund A

	
 

	
 

	
         Hybrid
  Asset Allocation Funds

	
                    Fidelity
  Freedom Income® Fund

	
                    Fidelity
  Freedom 2000® Fund

	
                    Fidelity
  Freedom 2010® Fund

92

	
 

	
 

	
                    Fidelity
  Freedom 2020® Fund

	
                    Fidelity
  Freedom 2030® Fund”

          2.    Effective
July 1, 2002, by adding the following new Supplement B at the end of Appendix
16.3 of the Plan as a part thereof:

“SUPPLEMENT B

	
 

	
 

	
 

	
          16.3
  (a)     Purpose.  The purpose of this Supplement B is to set forth the special
  provisions (not otherwise set forth in the Plan) which apply to the
  participants in the BP Savings and Investment Plan (the “SIP”) immediately
  prior to July 1, 2002, and including Alternative Payees and eligible
  Beneficiaries of such persons (collectively, the “SIP Participants”),
  notwithstanding any other provisions of the Plan to the contrary.

	
 

	
 

	
 

	
          (b)     Accounts.
As of July 1, 2002, each SIP Participant
  will have allocated and posted to the Accounts under the Plan the amounts
  credited to such SIP Participant’s accounts under the SIP, whichever is
  applicable, in accordance with the following Schedule:

	
 

	
 

	
 

	
 

	
 

	
 

	
SIP
  Account

	
 

	
Plan
  Account

	
 

	
 

	

	
 

	

	
 

	
 

	
 

	
 

	
 

	
After-Tax Account

	
After-Tax Account

	
 

	
Before-Tax Account

	
Before-Tax Account

	
 

	
Match Account

	
Match Account

	
 

	
Rollover Account

	
Rollover Account

	
 

	
 

	
 

	
          (c)     Service.
For periods prior to July 1, 2002, the
  determination of a Participant’s Service will be made pursuant to the records
  of the SIP immediately prior to July 1, 2002.

	
 

	
 

	
 

	
          (d)     Investment
  and Contribution Elections and Beneficiary Designation.  Notwithstanding anything contained herein
  to the contrary, any investment election, contribution election or
  beneficiary designation accepted by the Plan Administrator and not otherwise
  revoked, under the SIP immediately before July 1, 2002, will continue in
  effect as a valid Investment Election, Contribution Election or Beneficiary
  designation under the Plan until the earliest of: (1) the effective date
  of a new Investment Election, Contribution Election or Beneficiary
  designation; or (2) with respect to any Investment Election or
  Contribution Election, the date the individual ceases to be a
  Participant.  Notwithstanding anything
  to the contrary in the SIP as in effect immediately prior to July 1, 2002,
  Match Contributions to be made to the Plan 

93

	
 

	
 

	
 

	
on or after July 1, 2002, to which SIP Participants
  are entitled with respect to periods beginning before that date will be made
  in Company Stock in accordance with the terms of the Plan.

	
 

	
 

	
 

	
          (e)     Vesting.
Notwithstanding anything contained herein
  to the contrary, in the case of a SIP Participant who is not credited with an
  Hour of Service on or after July 1, 2002, the nonforfeitable interest of such
  SIP Participant in his Match Account under the SIP will be determined
  pursuant to the terms of the SIP as in effect immediately prior to July 1, 2002.”

*     *     *     *     *

          I,
Donald Packham, Senior Vice President, Human Resources, of the Corporation,
hereby approve and adopt the foregoing amendment to the Plan.

	
 

	
 

	
 

	
 

	
Dated this 21st day of June, 2002

	
 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Senior Vice President, Human Resources

  BP Corporation North America Inc.

	
 

94

THIRD
AMENDMENT

OF

BP
EMPLOYEE SAVINGS PLAN

(As
Amended and Restated Generally Effective as of January 1, 2002)

          WHEREAS,
BP Corporation North America Inc. (the “Corporation”) maintains the BP Employee
Savings Plan (the “Plan”);

          WHEREAS,
the Plan has previously been amended and further amendment of the Plan is now
considered desirable to (i) comply with the Economic Growth and Tax Relief
Reconciliation Act of 2001 (“EGTRRA”), and (ii) reflect the merger of the
Prestige Stations, Inc. 401(k) Plan (the “PSI Plan”) into the Plan on December
1, 2002; and

          WHEREAS,
pursuant to the power delegated to a Designated Officer under Section 16.1 of
the Plan, the Senior Vice President, Human Resources, as a Designated Officer
of the Corporation, has the authority to amend the Plan; 

          NOW,
THEREFORE, the Senior Vice President, Human Resources of the Corporation hereby
amends the Plan in the following particulars in order to reflect certain
provisions of EGTRRA. This amendment is intended, in part, as good faith
compliance with the requirements of EGTRRA and, where applicable, is to be
construed in accordance with EGTRRA and guidance issued thereunder. Except for
provisions relating to the merger of the PSI Plan into the Plan or as otherwise
provided herein, this amendment is effective as of the first day of the first
plan year beginning after December 31, 2001, and unless otherwise extended by
law, will not apply to taxable years, plan years or limitation years beginning
after December 31, 2010.

	
   

  	
   

  
	
                  1.   
  By adding the following new language to the end of the Section 1.31 of the
  Plan as a part thereof:

  
	
   

  	
   

  
	
   

  	
  “, determined without regard to catch-up
  contributions under Section 414(v) of the Code.”

  

95

	
   

  	
   

  
	
                  2.   
  Effective with respect to distributions made after December 31, 2001, by
  adding the following new sentence to the end of Section 1.40 of the Plan as a
  part thereof:

  
	
   

  	
   

  
	
   

  	
  “This definition of ‘Eligible Retirement Plan’ will
  also apply in the case of a distribution to a surviving Spouse, or to a
  Spouse or former Spouse who is the Alternate Payee under a QDRO.”

  
	
   

  	
   

  
	
                  3.   
  Effective with respect to distributions made after December 31, 2001, by
  substituting the following for Section 1.41 of the Plan:

  
	
   

  	
   

  
	
   

  	
       “1.41 ‘Eligible
  Rollover Distribution’ means any distribution of all or any portion of
  the balance to the credit of a Distributee, except that an Eligible Rollover
  Distribution does not include any distribution that is one of a series of
  substantially equal periodic payments (not less frequently than annually)
  made for the life (or life expectancy) of the Distributee or the joint lives
  (or joint life expectancies) of the Distributee and the Distributee’s
  designated Beneficiary, or for a specified period of 10 years or more; any
  distribution to the extent such distribution is required under Section
  401(a)(9) of the Code; or any ‘hardship withdrawal’, whether described in
  Section 401(k)(2)(B) of the Code and the regulations promulgated thereunder
  or otherwise. The portion of a distribution which consists of after-tax
  contributions which are not includible in gross income may be transferred
  only in a trustee-to-trustee transfer and 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 account for amounts so
  transferred, including 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.”

  
	
   

  	
   

  
	
                  4.   
  By adding the following new language to the end of the last paragraph of
  Section 9.4(b) of the Plan as a part thereof:

  
	
   

  	
   

  
	
   

  	
  “; provided, however, that the provisions set forth
  in this sentence will not apply effective for calendar years beginning after
  December 31, 2001, to Participants who withdrew all or a part of their
  Before-Tax Account under this Section 9.3 after December 31, 2000.”

  
	
   

  	
   

  
	
                  5.   
  By substituting the following for the title of Section 14.2 of the Plan.

  
	
   

  	
   

  
	
   

  	
  “14.2     Claims
  Procedure for Claims Made Prior to January 1, 2002.”

  

96

	
   

  	
   

  
	
                  6.   
  By renumbering Section 14.3, 14.4 and 14.5 as Sections 14.4, 14.5 and 14.6,
  respectively, and by adding the following new Section 14.3 to the Plan as a
  part thereof:

  
	
   

  	
   

  
	
   

  	
  “14.3     Claims
  Procedure for Claims Made On and After January 1, 2002

  
	
   

  	
   

  
	
   

  	
                (a)     Definitions.
  For purposes of this Section 14.3, the following words or phrases in quotes
  when capitalized will have the meaning set forth below:

  
	
   

  	
   

  
	
   

  	
                          (1)     ‘Adverse
  Benefit Determination’ means a denial, reduction or the termination of, or a
  failure to provide or make payment (in whole or in part) with respect to a
  Claim for a benefit, including any such denial, reduction, termination, or
  failure to provide or make payment that is based on a determination of a
  Participant’s or Beneficiary’s eligibility to participate in the Plan.

  
	
   

  	
   

  
	
   

  	
                          (2)     ‘Claim’
  means a request for a benefit or eligibility to participate in the Plan, made
  by a Claimant in accordance with the Plan’s procedures for filing Claims, as
  described in this Section 14.3.

  
	
   

  	
   

  
	
   

  	
                          (3)     ‘Claimant’
  is defined in Section 14.3(b)(2).

  
	
   

  	
   

  
	
   

  	
                          (4)     ‘Notice’
  or ‘Notification’ means the delivery or furnishing of information to an
  individual in a manner that satisfies applicable Department of Labor
  regulations with respect to material required to be furnished or made
  available to an individual.

  
	
   

  	
   

  
	
   

  	
                          (5)     ‘Relevant
  Documents’ include documents, records or other information with respect to a
  Claim that:

  
	
   

  	
   

  
	
   

  	
                                     (A)     were
  relied upon by the Claims Administrator in making the benefit determination;

  
	
   

  	
   

  
	
   

  	
                                     (B)     were
  submitted to, considered by or generated for, the Claims Administrator in the
  course of making the benefit determination, without regard to whether such
  documents, records or other information were relied upon by the Claims
  Administrator in making the benefit determination;

  
	
   

  	
   

  
	
   

  	
                                     (C)     demonstrate
  compliance with administrative processes and safeguards required in making
  the benefit determination; or

  
	
   

  	
   

  
	
   

  	
                                     (D)     constitute
  a statement of policy or guidance with respect to the Plan concerning the
  denied benefit for the Participant’s

  

97

	
   

  	
   

  
	
   

  	
  circumstances, without regard to whether such advice
  was relied upon by the Claims Administrator in making the benefit
  determination.

  
	
   

  	
   

  
	
   

  	
                (b)     Procedure
  for Filing a Claim. In order for a communication from a Claimant to
  constitute a valid Claim, it must satisfy the following paragraphs (1) and
  (2) of this paragraph (b).

  
	
   

  	
   

  
	
   

  	
                          (1)     Any
  Claim submitted by a Claimant must be in writing on the appropriate Claim
  form (or in such other manner acceptable to the Claims Administrator) and
  delivered, along with any supporting comments, documents, records and other
  information, to the Claims Administrator in person, or by mail postage paid,
  to the address for the Claims Administrator provided in the Summary Plan
  Description.

  
	
   

  	
   

  
	
   

  	
                          (2)     Claims
  and appeals of denied Claims may be pursued by a Participant or an authorized
  representative of the Participant (each of whom will be referred to in this
  section as a ‘Claimant’). However, the Claims Administrator may establish
  reasonable procedures for determining whether an individual has been
  authorized to act on behalf of a Participant.

  
	
   

  	
   

  
	
   

  	
                (c)     Initial
  Claim Review. The initial Claim review will be conducted by the Claims
  Administrator, with or without the presence of the Claimant, as determined by
  the Claims Administrator in its discretion. The Claims Administrator will
  consider the applicable terms and provisions of the Plan and amendments to
  the Plan, information and evidence that is presented by the Claimant and any
  other information it deems relevant. In reviewing the Claim, the Claims
  Administrator will also consider and be consistent with prior determinations
  of Claims from other Claimants who were similarly situated and which have
  been processed through the Plan’s claims and appeals procedures within the
  past 24 months.

  
	
   

  	
   

  
	
   

  	
                (d)     Initial
  Benefit Determination.

  
	
   

  	
   

  
	
   

  	
                          (1)     The
  Claims Administrator will notify the Claimant of the Claims Administrator’s
  determination within a reasonable period of time, but in any event (except as
  described in paragraph (2) below) within 90 days after receipt of the Claim
  by the Claims Administrator.

  
	
   

  	
   

  
	
   

  	
                          (2)     The
  Claims Administrator may extend the period for making the benefit
  determination by 90 days if it determines that such an extension is necessary
  due to matters beyond the control of the Plan and if it notifies the
  Claimant, prior to the expiration of the initial 90 day period, of
  circumstances requiring the extension of time and the date by which the
  Claims Administrator expects to render a decision.

  

98

	
   

  	
   

  
	
   

  	
                (e)     Manner
  and Content of Notification of Adverse Benefit Determination.

  
	
   

  	
   

  
	
   

  	
                          (1)     The
  Claims Administrator will provide a Claimant with written or electronic
  Notice of any Adverse Benefit Determination, in accordance with applicable
  Department of Labor regulations.

  
	
   

  	
   

  
	
   

  	
                          (2)     The
  Notification will set forth in a manner calculated to be understood by the
  Claimant:

  
	
   

  	
   

  
	
   

  	
                                    (A)     The
  specific reason or reasons for the Adverse Benefit Determination;

  
	
   

  	
   

  
	
   

  	
                                    (B)     Reference
  to the specific provision(s) of the Plan on which the determination is based;

  
	
   

  	
   

  
	
   

  	
                                    (C)     Description
  of any additional material or information necessary for the Claimant to
  perfect the Claim and an explanation of why such material or information is
  necessary;

  
	
   

  	
   

  
	
   

  	
                                    (D)     A
  description of the Plan’s review procedures and the time limits applicable to
  such procedures, including a statement of the Claimant’s right to bring a
  civil action under Section 502(a) of ERISA following an Adverse Benefit
  Determination on review.

  
	
   

  	
   

  
	
   

  	
                (f)     Procedure
  for Filing a Review of an Adverse Benefit Determination.

  
	
   

  	
   

  
	
   

  	
                          (1)     Any
  appeal of an Adverse Benefit Determination by a Claimant must be brought to
  the Claims Administrator within 60 days after receipt of the Notice of the
  Adverse Benefit Determination. Failure to appeal within such 60-day period
  will be deemed to be a failure to exhaust all administrative remedies under
  the Plan. The appeal must be in writing utilizing the appropriate form
  provided by the Claims Administrator (or in such other manner acceptable to
  the Claims Administrator); provided, however, that if the Claims
  Administrator does not provide the appropriate form, no particular form is
  required to be utilized by the Participant. The appeal must be filed with the
  Claims Administrator at the address listed in the Summary Plan Description.

  
	
   

  	
   

  
	
   

  	
                          (2)     A
  Claimant will have the opportunity to submit written comments, documents,
  records and other information relating to the Claim.

  
	
   

  	
   

  
	
   

  	
                (g)     Review
  Procedures for Adverse Benefit Determinations.

  
	
   

  	
   

  
	
   

  	
                          (1)     The
  Claims Administrator will provide a review that takes

  

99

	
   

  	
   

  
	
   

  	
  into account all comments, documents, records and
  other information submitted by the Claimant without regard to whether such
  information was submitted or considered in the initial benefit determination.

  
	
   

  	
   

  
	
   

  	
                          (2)     The
  Claimant will be provided, upon request and free of charge, reasonable access
  to and copies of all Relevant Documents.

  
	
   

  	
   

  
	
   

  	
                          (3)     The
  review procedure may not require more than two levels of appeals of an Adverse
  Benefit Determination.

  
	
   

  	
   

  
	
   

  	
                (h)     Timing
  and Notification of Benefit Determination on Review. The Claims
  Administrator will notify the Claimant within a reasonable period of time,
  but in any event within 60 days after the Claimant’s request for review,
  unless the Claims Administrator determines that special circumstances require
  an extension of time for processing the review of the Adverse Benefit
  Determination. If the Claims Administrator determines that an extension is
  required, written Notice will be furnished to the Claimant prior to the end
  of the initial 60-day period indicating the special circumstances requiring
  an extension of time and the date by which the Claims Administrator expects
  to render the determination on review, which in any event will be within 60
  days from the end of the initial 60-day period. If such an extension is
  necessary due to a failure of the Claimant to submit the information
  necessary to decide the Claim, the period in which the Claims Administrator
  is required to make a decision will be tolled from the date on which the
  notification is sent to the Claimant until the Claimant adequately responds
  to the request for additional information.

  
	
   

  	
   

  
	
   

  	
                (i)     Manner
  and Content of Notification of Benefit Determination on Review.

  
	
   

  	
   

  
	
   

  	
                         (1)     The
  Claims Administrator will provide a written or electronic Notice of the
  Plan’s benefit determination on review, in accordance with applicable
  Department of Labor regulations.

  
	
   

  	
   

  
	
   

  	
                         (2)     The
  Notification will set forth:

  
	
   

  	
   

  
	
   

  	
                                    (A)     The
  specific reason or reasons for the Adverse Benefit Determination;

  
	
   

  	
   

  
	
   

  	
                                    (B)     Reference
  to the specific provision(s) of the Plan on which the determination is based;

  
	
   

  	
   

  
	
   

  	
                                    (C)     A
  statement that the Claimant is entitled to receive, upon request and free of
  charge, reasonable access to and copies of all Relevant Documents; and

  

100

	
   

  	
   

  
	
   

  	
                                    (D)     A
  statement of the Claimant’s right to bring a civil action under Section
  502(a) of ERISA following an Adverse Benefit Determination on review.

  
	
   

  	
   

  
	
   

  	
                (k)     Collectively
  Bargained Benefits.

  
	
   

  	
   

  
	
   

  	
                          (1)     Where
  benefits are provided pursuant to a collective bargaining agreement and such
  collective bargaining agreement maintains or incorporates by specific
  reference: (i) provisions concerning the filing of a Claim for a benefit and
  the initial disposition of a Claim; and (ii) a grievance and arbitration
  procedure to which Adverse Benefit Determinations are subject, then Section
  14.3(c) through and including Section 14.3(i) will not apply to such Claim.

  
	
   

  	
   

  
	
   

  	
                          (2)     Where
  benefits are provided pursuant to a collective bargaining agreement and such
  collective bargaining agreement maintains or incorporates by specific
  reference a grievance and arbitration procedure to which Adverse Benefit
  Determinations are subject, then Sections 14.3(f) through and including
  Section 14.3(i) will not apply to such Claim.

  
	
   

  	
   

  
	
   

  	
                (l)     Statute
  of Limitations. No cause of action may be brought by a Claimant who has
  received an Adverse Benefit Determination later than two years following the
  date of such Adverse Benefit Determination.”

  
	
   

  	
   

  
	
   

  	
                7.
  By adding the following new sentences to the end of Section 17.3(a) of the
  Plan as a part thereof:

  
	
   

  	
   

  
	
   

  	
  “The present values of accrued benefits and the
  amounts of account balances of an employee as of the Top-Heavy Determination
  Date will 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 Top-Heavy Determination
  Date. The preceding sentence will 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 severance from service, death, or
  disability, this provision will be applied by substituting ‘5-year period’
  for ‘1-year period’. The accrued benefits and accounts of any individual who
  has not performed services for the employer during the 1-year period ending
  on the determination date will not be taken into account.”

  
	
   

  	
   

  
	
   

  	
                8.
  By adding the following new sentences to the end of Section 17.4(a) of the
  Plan as a part thereof:

  
	
   

  	
   

  
	
   

  	
  “Employer matching contributions will be taken into
  account for purposes of

  

101

	
   

  	
   

  
	
   

  	
  satisfying the minimum contribution requirements of
  section 416(c)(2) of the Code and the Plan. The preceding sentence will apply
  with respect to matching contributions under the Plan or, if the Plan
  provides that the minimum contribution requirement will be met in another
  plan, such other plan. Employer matching contributions that are used to
  satisfy the minimum contribution requirements will be treated as matching
  contributions for purposes of the actual contribution percentage test and
  other requirements of Section 401(m) of the Code.”

  
	
   

  	
   

  
	
   

  	
                9.
  By adding the following new Section 18.18 to the end of Article XVIII of the
  Plan as a part thereof:

  
	
   

  	
   

  
	
   

  	
  “18.18. Minimum Distribution Requirements.

  
	
   

  	
   

  
	
   

  	
               (a)     General
  Rules.

  
	
   

  	
   

  
	
   

  	
                         (1)     Effective
  Date. The provisions of this Section 18.18 will apply for purposes of
  determining required minimum distributions for calendar years beginning with
  the 2003 calendar year.

  
	
   

  	
   

  
	
   

  	
                         (2)     Coordination
  with Minimum Distribution Requirements Previously in Effect. Required
  minimum distributions for 2002 under this Section 18.18 will be determined as
  follows. If the total amount of 2002 required minimum distributions under the
  Plan made to the distributee prior to the effective date of this Section
  18.18 equals or exceeds the required minimum distributions determined under
  this Section 18.18, then no additional distributions will be required to be
  made for 2002 on or after such date to the distributee. If the total amount
  of 2002 required minimum distributions under the Plan made to the distributee
  prior to the effective date of this Section 18.18 is less than the amount
  determined under this Section 18.18, then required minimum distributions for
  2002 on and after such date will be determined so that the total amount of
  required minimum distributions for 2002 made to the distributee will be the
  amount determined under this Section 18.18. This Section 18.18(a)(2) does not
  apply.

  
	
   

  	
   

  
	
   

  	
                         (3)     Precedence.
  The requirements of this Section 18.18 will take precedence over any
  inconsistent provisions of the Plan.

  
	
   

  	
   

  
	
   

  	
                         (4)     Requirements
  of Treasury Regulations Incorporated. All distributions required under
  this Section 18.18 will be determined and made in accordance with the
  Treasury regulations under Section 401(a)(9) of the Code.

  
	
   

  	
   

  
	
   

  	
                         (5)     TEFRA
  Section 242(b)(2) Elections. Notwithstanding the other provisions of this
  Section 18.18, distributions may be made under a designation made before
  January 1, 1984, in accordance with Section 242(b)(2) of 

  
	
   

  	
   

  

102

	
   

  	
   

  
	
   

  	
  the Tax Equity and Fiscal Responsibility Act (TEFRA)
  and the provisions of the plan that relate to Section 242(b)(2) of TEFRA.

  
	
   

  	
   

  
	
   

  	
               (b)     Time
  and Manner of Distribution.

  
	
   

  	
   

  
	
   

  	
                         (1)     Required
  Beginning Date. The Participant’s entire interest will be distributed, or
  begin to be distributed, to the Participant no later than the Participant’s
  required beginning date.

  
	
   

  	
   

  
	
   

  	
                         (2)     Death
  of Participant Before Distributions Begin. If the Participant dies before
  distributions begin, the Participant’s entire interest will be distributed,
  or begin to be distributed, no later than as follows:

  
	
   

  	
   

  
	
   

  	
                                    (A)     If
  the Participant’s surviving Spouse is the Participant’s sole designated
  Beneficiary, then distributions to the surviving Spouse will begin by
  December 31 of the calendar year immediately following the calendar year in
  which the Participant died, or by December 31 of the calendar year in which
  the Participant would have attained age 70 1/2, if later.

  
	
   

  	
   

  
	
   

  	
                                    (B)     If
  the Participant’s surviving Spouse is not the Participant’s sole designated
  Beneficiary, then distributions to the designated Beneficiary will begin by
  December 31 of the calendar year immediately following the calendar year in
  which the Participant died.

  
	
   

  	
   

  
	
   

  	
                                    (C)     If
  there is no designated Beneficiary as of September 30 of the year following
  the year of the Participant’s death, the Participant’s entire interest will
  be distributed by December 31 of the calendar year containing the fifth
  anniversary of the Participant’s death.

  
	
   

  	
   

  
	
   

  	
                                    (D)     If
  the Participant’s surviving Spouse is the Participant’s sole designated
  Beneficiary and the surviving Spouse dies after the Participant but before
  distributions to the surviving Spouse begin, this Section 18.18(b)(2), other
  than Section 18.18(b)(2)(A), will apply as if the surviving Spouse were the
  Participant.

  
	
   

  	
   

  
	
   

  	
               For purposes of this Section 18.18(b)(2) and Section
  18.18(d) below, unless Section 18.18(b)(2)(D) applies, distributions are
  considered to begin on the Participant’s required beginning date. If Section
  18.18(b)(2)(D) applies, distributions are considered to begin on the date
  distributions are required to begin to the surviving Spouse under Section
  18.18(b)(2)(A). If distributions under an annuity purchased from an insurance
  company irrevocably commence to the Participant before the Participant’s
  required beginning date (or to the Participant’s surviving Spouse before the date
  distributions are required to begin to the surviving Spouse under Section
  18.18(b)(2)(A), the date distributions are considered to begin is the date
  distributions actually commence.

  

103

	
   

  	
   

  
	
   

  	
                         (3)     Forms
  of Distribution. Unless the Participant’s interest is distributed in the
  form of an annuity purchased from an insurance company or in a single sum on
  or before the required beginning date, as of the first distribution calendar
  year distributions will be made in accordance with Sections 18.18(c) and (d).
  If the Participant’s interest is distributed in the form of an annuity
  purchased from an insurance company, distributions thereunder will be made in
  accordance with the requirements of Section 401(a)(9) of the Code and the
  Treasury regulations.

  
	
   

  	
   

  
	
   

  	
               (c)     Required
  Minimum Distributions During Participant’s Lifetime.

  
	
   

  	
   

  
	
   

  	
                         (1)     Amount
  of Required Minimum Distribution For Each Distribution Calendar Year.
  During the Participant’s lifetime, the minimum amount that will be
  distributed for each distribution calendar year is the lesser of:

  
	
   

  	
   

  
	
   

  	
                                   (A)     the
  quotient obtained by dividing the Participant’s account balance by the
  distribution period in the Uniform Lifetime Table set forth in Section
  1.401(a)(9)-9 of the Treasury regulations, using the Participant’s age as of
  the Participant’s birthday in the distribution calendar year; or

  
	
   

  	
   

  
	
   

  	
                                   (B)     if
  the Participant’s sole designated Beneficiary for the distribution calendar
  year is the Participant’s Spouse, the quotient obtained by dividing the
  Participant’s account balance by the number in the Joint and Last Survivor
  Table set forth in Section 1.401(a)(9)-9 of the Treasury regulations, using
  the Participant’s and Spouse’s attained ages as of the Participant’s and
  Spouse’s birthdays in the distribution calendar year.

  
	
   

  	
   

  
	
   

  	
                         (2)     Lifetime
  Required Minimum Distributions Continue Through Year of Participant’s Death.
  Required minimum distributions will be determined under this Section 18.18(c)
  beginning with the first distribution calendar year and up to and including
  the distribution calendar year that includes the Participant’s date of death.

  
	
   

  	
   

  
	
   

  	
               (d)     Required
  Minimum Distributions After Participant’s Death.

  
	
   

  	
   

  
	
   

  	
                         (1)     Death
  On or After Date Distributions Begin.

  
	
   

  	
   

  
	
   

  	
                                   (A)     Participant
  Survived by Designated Beneficiary. If the Participant dies on or after
  the date distributions begin and there is a designated Beneficiary, the
  minimum amount that will be distributed for each distribution calendar year
  after the year of the Participant’s death is the quotient obtained by
  dividing the Participant’s account balance by the longer of the remaining
  life expectancy of the Participant or the remaining life expectancy of the
  Participant’s designated Beneficiary, determined as follows:

  

104

	
   

  	
   

  
	
   

  	
                                              (i)     The
  Participant’s remaining life expectancy is calculated using the age of the
  Participant in the year of death, reduced by one for each subsequent year.

  
	
   

  	
   

  
	
   

  	
                                              (ii)     If
  the Participant’s surviving Spouse is the Participant’s sole designated
  Beneficiary, the remaining life expectancy of the surviving Spouse is
  calculated for each distribution calendar year after the year of the
  Participant’s death using the surviving Spouse’s age as of the Spouse’s
  birthday in that year. For distribution calendar years after the year of the
  surviving Spouse’s death, the remaining life expectancy of the surviving
  Spouse is calculated using the age of the surviving Spouse as of the Spouse’s
  birthday in the calendar year of the Spouse’s death, reduced by one for each
  subsequent calendar year.

  
	
   

  	
   

  
	
   

  	
                                              (iii)     If
  the Participant’s surviving Spouse is not the Participant’s sole designated
  Beneficiary, the designated Beneficiary’s remaining life expectancy is
  calculated using the age of the Beneficiary in the year following the year of
  the Participant’s death, reduced by one for each subsequent year.

  
	
   

  	
   

  
	
   

  	
                                   (B)     No
  Designated Beneficiary. If the Participant dies on or after the date
  distributions begin and there is no designated Beneficiary as of September 30
  of the year after the year of the Participant’s death, the minimum amount
  that will be distributed for each distribution calendar year after the year
  of the Participant’s death is the quotient obtained by dividing the
  Participant’s account balance by the Participant’s remaining life expectancy
  calculated using the age of the Participant in the year of death, reduced by
  one for each subsequent year.

  
	
   

  	
   

  
	
   

  	
                         (2)     Death
  Before Date Distributions Begin.

  
	
   

  	
   

  
	
   

  	
                                    (A)     Participant
  Survived by Designated Beneficiary. Except as provided in the adoption
  agreement, if the Participant dies before the date distributions begin and
  there is a designated Beneficiary, the minimum amount that will be
  distributed for each distribution calendar year after the year of the
  Participant’s death is the quotient obtained by dividing the Participant’s
  account balance by the remaining life expectancy of the Participant’s
  designated Beneficiary, determined as provided in Section 18.18(d)(1).

  
	
   

  	
   

  
	
   

  	
                                    (B)     No
  Designated Beneficiary. If the Participant dies before the date
  distributions begin and there is no designated Beneficiary as of September 30
  of the year following the year of the Participant’s death, distribution of
  the Participant’s entire interest will be completed by December 31 of the
  calendar year containing the fifth anniversary of the Participant’s death.

  

105

	
   

  	
   

  
	
   

  	
                                    (C)     Death
  of Surviving Spouse Before Distributions to Surviving Spouse Are Required to
  Begin. If the Participant dies before the date distributions begin, the
  Participant’s surviving Spouse is the Participant’s sole designated
  Beneficiary, and the surviving Spouse dies before distributions are required
  to begin to the surviving Spouse under Section 18.18(b)(2)(A), this Section
  18.18(d)(2) will apply as if the surviving Spouse were the Participant.

  
	
   

  	
   

  
	
   

  	
               (e)     Definitions.

  
	
   

  	
   

  
	
   

  	
                         (1)     Designated
  Beneficiary. The individual who is designated as the Beneficiary under
  Section 12.3 and is the designated Beneficiary under Section 401(a)(9)
  of the Code and Section 1.401(a)(9)-1, Q&A-4, of the Treasury
  Regulations.

  
	
   

  	
   

  
	
   

  	
                         (2)     Distribution
  calendar year. A calendar year for which a minimum distribution is
  required. For distributions beginning before the Participant’s death, the
  first distribution calendar year is the calendar year immediately preceding
  the calendar year which contains the Participant’s required beginning date.
  For distributions beginning after the Participant’s death, the first
  distribution calendar year is the calendar year in which distributions are
  required to begin under Section 18.18(b)(2). The required minimum
  distribution for the Participant’s first distribution calendar year will be
  made on or before the Participant’s required beginning date. The required
  minimum distribution for other distribution calendar years, including the
  required minimum distribution for the distribution calendar year in which the
  Participant’s required beginning date occurs, will be made on or before
  December 31 of that distribution calendar year.

  
	
   

  	
   

  
	
   

  	
                         (3)     Life
  expectancy. Life expectancy as computed by use of the Single Life Table
  in Section 1.401(a)(9)-9 of the Treasury Regulations.

  
	
   

  	
   

  
	
   

  	
                         (4)     Participant’s
  account balance. The account balance as of the last valuation date in the
  calendar year immediately preceding the distribution calendar year (valuation
  calendar year) increased by the amount of any contributions made and
  allocated or forfeitures allocated to the account balance as of dates in the
  valuation calendar year after the valuation date and decreased by
  distributions made in the valuation calendar year after the valuation date.
  The account balance for the valuation calendar year includes any amounts
  rolled over or transferred to the Plan either in the valuation calendar year
  or in the distribution calendar year if distributed or transferred in the
  valuation calendar year.

  
	
   

  	
   

  
	
   

  	
                         (5)     Required
  beginning date. The date specified in Section 10.2.”

  
	
   

  	
   

  
	
           10.
  Effective December 1, 2002, by adding the following new Supplement B to the
  end of Appendix 16.3 of the Plan as a part thereof:

  

106

	
   

  	
   

  
	
   

  	
  “SUPPLEMENT B

  
	
   

  	
   

  
	
   

  	
                16.3
  (a)     Purpose. The purpose of this
  Supplement B is to provide for the merger of the Prestige Stations, Inc.
  401(k) Plan (the ‘PSI Plan’) into the Plan in compliance with the
  requirements of Section 414(l) of the Code and to set forth the special
  provisions (not otherwise set forth in the Plan) which apply to the
  participants in PSI Plan immediately prior to December 1, 2002, and including
  Alternative Payees and eligible Beneficiaries of such persons (collectively,
  the ‘PSI Participants’), notwithstanding any other provisions of the Plan to
  the contrary.

  
	
   

  	
   

  
	
   

  	
                (b)     Accounts.
  As of December 1, 2002, each PSI Participant will have allocated and posted
  to the Accounts under the Plan the amounts credited to such PSI Participant’s
  accounts under the PSI Plan in accordance with the following Schedule:

  

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  PSI
  Account

  	
   

  	
   

  	
   

  	
  Plan
  Account

  	
   

  	
   

  
	
   

  	
   

  	
  

  	
   

  	
   

  	
   

  	
  

  	
   

  	
   

  
	
   

  	
  Elective Deferral Account

  	
   

  	
  Before-Tax Account

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Company Contribution Account (including match and
  supplemental company contributions)

  	
   

  	
  Prior Company Contribution Account

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Rollover Account

  	
   

  	
  Rollover Account

  

	
   

  	
   

  
	
   

  	
                (c)     Service.
  For periods prior to the Effective Date, the determination of a Participant’s
  Service will be made pursuant to the records of the PSI Plan immediately
  prior to December 1, 2002.

  
	
   

  	
   

  
	
   

  	
                (d)     Investment
  and Contribution Elections and Beneficiary Designation. Notwithstanding
  anything to the contrary, any investment election, contribution election or
  Beneficiary designation duly filed, and not otherwise revoked, under the PSI
  Plan immediately before December 1, 2002, will continue in effect as a valid
  Investment Election, Contribution Election or Beneficiary designation under
  the Plan until the earliest of: (1) the effective date of a new
  Investment Election, Contribution Election or Beneficiary designation or (2) the
  date the individual ceases to be a Participant.

  
	
   

  	
   

  
	
   

  	
                (e)     Notwithstanding
  anything in the Plan to the contrary, any PSI Participant who is not fully
  vested in his PSI Participant’s Company Contribution Account as of December
  1, 2002 will be vested in any and all amounts transferred from such PSI
  Participant’s Company Contribution Account to such PSI Participant’s Prior
  Company Contribution Account as determined in accordance with the following
  schedule:

  

107

	
    

   	
    

   
	
   Years of Service

   	
   Nonforfeitable Percentage

   
	
  Less than 1

  	
  0%

  
	
  1 but less than 2

  	
  20%

  
	
  2 but less than 3

  	
  40%

  
	
  3 or more

  	
  100%

  

	
   

  	
   

  
	
   

  	
                (f)     A
  PSI Participant who Severed from Service while under the PSI Plan prior to
  December 1, 2002, and subsequently has a Reemployment Date after December 1,
  2002, within 7 years of such Severance from Service will have any forfeited
  amount, without any adjustment for the earnings, expenses, losses, or gains
  of the assets allocated to his Accounts since the date forfeited, restored to
  his Prior Company Contribution Account and invested in accordance with the
  Participant’s new Investment Election for Before-Tax and After-Tax
  Contributions. Amounts previously forfeited after a Break in Service of at
  least 7 consecutive 12-month periods will not be restored.

  
	
   

  	
   

  
	
   

  	
                (g)     Notwithstanding
  the foregoing paragraph (f), a PSI Participant who Severed from Service while
  under the PSI Plan prior to December 1, 2002, and had a Break in Service of
  at least 5 consecutive years prior to December 1, 2002 (determined under the
  terms of the PSI Plan as in effect immediately prior to December 1, 2002),
  will not have any forfeited amount restored to his Prior Company Contribution
  Account.”

  
	
   

  	
   

  
	
   

  	
  In all other respects, the Plan, as amended, will
  continue in full force and effect.

  

*  *  *  *  *

	
   

  	
   

  
	
             I,
  Donald Packham, Senior Vice President, Human Resources, of the Corporation,
  hereby approve and adopt the foregoing amendment to the Plan.

  

	
   

  	
   

  
	
   

  	
  Dated this 29th day of November, 2002.

  
	
   

  	
   

  
	
   

  	
  

  
	
   

  	
  Senior Vice President, Human Resources

  
	
   

  	
  BP Corporation North America Inc.

  

108

FOURTH
AMENDMENT

OF

BP EMPLOYEE SAVINGS PLAN

(As
Amended and Restated Generally Effective as of January 1, 2002)

         WHEREAS,
BP Corporation North America Inc. (the “Corporation”) maintains the BP Employee
Savings Plan (the “Plan”);

         WHEREAS,
the Plan has previously been amended and further amendment of the Plan is now
considered desirable to clarify certain changes set forth in the Third
Amendment of the Plan; and 

         WHEREAS,
pursuant to the power delegated to a Designated Officer under Section 16.1 of
the Plan, the Senior Vice President, Human Resources, as a Designated Officer
of the Corporation, has the authority to amend the Plan;

         NOW,
THEREFORE, the Senior Vice President, Human Resources, of the Corporation
hereby amends the Plan in the following particulars:

	
   

  	
   

  
	
           1.
  Effective January 1, 2003, by adding the following new sentences to the end
  of Section 1.46 of the Plan as a part thereof:

  
	
   

  	
   

  
	
   

  	
  “Rules applicable to Exchange Elections may be
  established by the Administrator. Such rules may, among other things, limit
  the Investment Options that may be elected by the Participant and establish
  the time and manner in which such an election may be made.”

  
	
   

  	
   

  
	
           2.
  Effective January 1, 2003, by adding the following new sentences to the end
  of Section 1.57 of the Plan as a part thereof:

  
	
   

  	
   

  
	
   

  	
  “Rules applicable to Investment Elections may be
  established by the Administrator. Such rules may, among other things, limit
  the Investment Options that may be elected by the Participant and establish
  the time and manner in which such an election may be made.”

  

109

	
   

  	
   

  
	
           3.
  Effective January 1, 2003, by substituting the following for the second and
  third sentences of Section 3.4(a) of the Plan:

  
	
   

  	
   

  
	
   

  	
  “The Trustee will allocate and post to the Rollover
  Account of such Participant the amount of such Rollover Contribution.”

  
	
   

  	
   

  
	
   

  	
  4. Effective January 1, 2003, by substituting the
  following for Section 6.1(a) of the Plan:

  
	
   

  	
   

  
	
   

  	
  “6.1 Investment of Contributions.:

  
	
   

  	
   

  
	
   

  	
            (a)
  Investment Elections. Each Participant may direct the Administrator,
  by submission to the Administrator of an Investment Election, to invest
  Contributions (and loan repayments) posted to his Accounts and other amounts
  allocated and posted to the Participant’s Account in one or more Investment
  Options; provided, however,
  that Investment Elections may only be accepted for Rollover Contributions to
  the extent allowed by the Administrator. Nothwithstanding the above, Match
  Contributions will be invested directly in the Company Stock Fund. In the
  absence of an Investment Election, and subject to such rules as the
  Administrator may make, any other Contributions (and loan repayments) will be
  invested in the Short-Term Investment Fund.”

  
	
   

  	
   

  
	
           5.
  By adding the following new sentence to the end of Section 14.3(a)(2) of the
  Plan as a part thereof:

  
	
   

  	
   

  
	
   

  	
  “For this purpose, an inquiry or request for
  reconsideration made under the Plan’s established administrative procedures
  will not constitute a Claim.”

  
	
   

  	
   

  
	
           6.
  By deleting Section 14.3(k) of the Plan and renumbering Section 14.3(1) of
  the Plan accordingly.

  
	
   

  	
   

  
	
   

  	
  7.
By substituting the following for Section
  18.18(b)(2)(B) of the Plan:

  
	
   

  	
   

  
	
   

  	
                      “(B)
  If the Participant’s surviving Spouse is not the Participant’s sole
  designated Beneficiary, the Participant’s entire interest will be distributed
  to the designated Beneficiary by December 31 of the calendar year containing
  the fifth anniversary of the Participant’s death. If the Participant’s surviving
  Spouse is the Participant’s sole designated Beneficiary and the surviving
  Spouse dies after the Participant but before distributions to either the
  Participant or the surviving Spouse begin, this provision will apply as if
  the surviving Spouse were the Participant.”

  
	
   

  	
   

  
	
   

  	
  8. By substituting the following for Section
  18.18(d)(2)(A) of the Plan:

  

110

	
   

  	
   

  
	
   

  	
                      “(A)
  Participant Survived by Designated Beneficiary. To the extent Section
  18.18(b)(2)(B) does not contain the ‘five-year rule,’ if the Participant dies
  before the date distributions begin and there is a designated Beneficiary,
  the minimum amount htat will be distributed for each distribution calendar
  year after the year of the Participants’ death is the quotient obtained by
  dividing the Participant’s account balance by the remaining life expectancy
  of the Participant’s designated Beneficiary, determined as provided in
  Section 18.18(d((1).”

  
	
   

  	
   

  
	
   

  	
  In all other respects, the Plan
  will remain in full force and effect.

  

*     *     *     *     *

         I,
Donald Packham, Senior Vice President, Human Resources, of the Corporation,
hereby approve and adopt the foregoing amendment to the Plan.

	
   

  	
   

  	
   

  
	
   

  	
  Dated this 31st day of December, 2002.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  

  	
   

  
	
   

  	
  Senior Vice President, Human Resources

  	
   

  
	
   

  	
  BP Corporation North America Inc.

  	
   

  

111

FIFTH
AMENDMENT

OF

BP EMPLOYEE SAVINGS PLAN

(As
Amended and Restated Generally Effective as of January 1, 2002)

         WHEREAS,
BP Corporation North America Inc. (the “Corporation”) maintains the BP Employee
Savings Plan (the “Plan”);

         WHEREAS,
the Plan has previously been amended and further amendment of the Plan is now
considered desirable;  and 

         WHEREAS,
pursuant to the power delegated to a Designated Officer under Section 16.1 of
the Plan, the Senior Vice President, Human Resources, as a Designated Officer
of the Corporation, has the authority to amend the Plan;

         NOW,
THEREFORE, the Senior Vice President, Human Resources, of the Corporation
hereby amends the Plan in the following particulars:

	
   

  	
   

  
	
   

  
	
   

  
	
           1.
   Effective April 1, 2003, by substituting the following for Section 1.39(h) of
  the Plan:

  
	
   

  	
   

  
	
   

  	
            “(h)
  An hourly Employee of Air BP Into Plane Fueling or Fuel System Operations
  (other than an Into Plane Fueling or Fuel System Operations Employee at
  Cleveland, Hopkins Airport);”

  
	
   

  	
   

  
	
           2.
   Effective April 1, 2003, by adding the following new Section 3.6 to the Plan
  as a part thereof:

  
	
   

  
	
   

  	
            “3.6
   Employer Contribution on Return from Qualified Military Leave. If an Employee:
  (i) was absent from employment for qualified military service with the armed
  forces of the United States, (ii) returns to employment after March 31, 2003
  and within the period required by the Uniform Services Employment and
  Reemployment Rights Act of 1994, or any successor statute, and (iii) was a
  Participant at the commencement of the qualified military leave, then
  following his return to employment with an Employer, the Employer will
  contribute to the Trust an amount determined under this Section 3.6 as a
  contribution to the Participant’s Match Account and invested in the Company
  Stock Fund as soon as administratively practicable following the Employee’s
  return from qualified military leave. The 

  

112

	
   

  	
   

  
	
   

  	
  amount of the contribution will equal the maximum
  Match Contribution the Employee would have been entitled to under the Plan
  had the Employee not been on qualified military leave and been contributing
  to the Plan during the leave period at a rate which would have entitled the
  Employee to the highest possible Match Contribution, reduced by the Match
  Contribution actually made on behalf of the Employee during the leave period;
  provided, however, that no contribution made with respect to a year on behalf
  of a Participant may exceed the limitations under Section 415 of the Code
  applicable to the year to which the missed Match Contribution relates. The
  missed compensation to be considered for purposes of calculating the
  contribution under this Section 3.6 will be the Employee’s compensation as
  that term is defined under Section 414(u)(7) of the Code, reduced by
  Compensation actually paid to the Employee during the leave period. The
  contribution under this Section will be in satisfaction of any amount
  otherwise required to be contributed by the Employer pursuant to Section
  414(u) of the Code or Section 2.7 of the Plan.”

  
	
   

  	
   

  
	
           3.
   Effective March 3, 2003, by substituting the following for Section 8.6 of the
  Plan:

  
	
   

  
	
   

  	
            “8.6
   Repayment.  Substantially level
  amortization will be required of each loan with payments made at least
  monthly. Loans may be prepaid in full or in part at any time. The loan
  repayment period will be as mutually agreed upon by the Participant and the
  Administrator, not to exceed five years or fifteen years if the loan is used
  by the Participant to acquire the Participant’s principal residence.”

  
	
   

  	
   

  
	
   

  	
  In all other respects, the Plan
  will remain in full force and effect.

  

*     *     *     *     *

         I,
Donald Packham, Senior Vice President, Human Resources, of the Corporation,
hereby approve and adopt the foregoing amendment to the Plan.

	
   

  	
   

  	
   

  
	
   

  	
  Dated this ____ day of March, 2003.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  

  	
   

  
	
   

  	
  Senior Vice President, Human Resources

  	
   

  
	
   

  	
  BP Corporation North America Inc.

  	
   

  

113

SIXTH
AMENDMENT

OF

BP EMPLOYEE SAVINGS PLAN

(As
Amended and Restated Generally Effective as of January 1, 2002)

         WHEREAS,
BP Corporation North America Inc. (the “Corporation”) maintains the BP Employee
Savings Plan (the “Plan”);

         WHEREAS,
the Plan has previously been amended and further amendment of the Plan is now
considered desirable; and

         WHEREAS,
pursuant to the power delegated to a Designated Officer under Section 16.1 of
the Plan, the Senior Vice President, Human Resources, as a Designated Officer
of the Corporation, has the authority to amend the Plan;

         NOW,
THEREFORE, the Senior Vice President, Human Resources of the Corporation hereby
amends the Plan, effective as of January 1, 2002, by adding the following new
paragraph at the end of the Introduction:

	
   

  	
   

  	
   

  
	
   

  	
            “The
  Plan, as set forth in this document, is hereby effective as amended and
  restated as of January 1, 2002, except to the extent that failure to
  retroactively make any provision effective prior to January 1, 2002, would
  result in the Plan (as it existed prior to January 1, 2002) containing a
  disqualifying provision, as defined in Revenue Procedure 99-23 (as modified
  by any Treasury guidance modifying the term ‘disqualifying provision’), or an
  operational defect, as defined in Revenue Procedure 2001-17 (as modified by
  any Treasury guidance modifying the term ‘operational defect’), in which case
  such provision (and any definitions pertinent to the application of such
  provision) shall be retroactively effective to a date which will result in no
  such disqualifying provision or operational defect in the Plan prior to
  January 1, 2002.”

  	
   

  

*     *     *     *     *

         I,
Donald Packham, Senior Vice President, Human Resources of the Corporation,
hereby approve and adopt the foregoing amendment to the Plan.

	
   

  	
   

  	
   

  
	
   

  	
  Dated this ___ day of __________, 2003.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  

  	
   

  
	
   

  	
  Senior Vice President, Human Resources

  	
   

  
	
   

  	
  BP Corporation North America Inc.

  	
   

  

114

SEVENTH AMENDMENT

OF

BP
EMPLOYEE SAVINGS PLAN

(As Amended and Restated Generally
Effective as of January 1, 2002)

          WHEREAS,
BP Corporation North America Inc. (the “Corporation”) maintains the BP Employee
Savings Plan (the “Plan”); and

          WHEREAS,
the Plan has previously been amended and further amendment of the Plan now is
considered desirable; and

          WHEREAS,
pursuant to the power delegated to a Designated Officer under Section 16.1 of
the Plan, the Senior Vice President, Human Resources, as a Designated officer
of the Corporation, has the authority to amend the Plan; and

          WHEREAS,
in all other respects, the Plan, as amended, will continue in full force and
effect.

          NOW,
THEREFORE, the Senior Vice President, Human Resources, of the Corporation
hereby amends the Plan, in the following particulars:

          1.     Effective
December 31, by adding the following new language to the end of the second
paragraph of the Introduction to the Plan as part thereof:

	
   

  	
   

  
	
   

  	
  “, (iii) the merger of the Burmah Castrol Group
  U.S.A. Thrift Plan (the “Castrol Thrift Plan”) into the Plan as of the close
  of business December 31, 2003 (as more fully described in Appendix 16.3); and

  
	
   

  	
   

  
	
   

  	
  (iv) the merger of the BP Solar 401(k) Plan (the
  “Solar 401(k) Plan”) into the Plan as of the close of business January 2,
  2004 (as more fully described in Appendix 16.3).”

  

          2.     Effective
December 31, 2003, by adding the following new sentences to the end of the
third paragraph of the Introduction to the Plan as part thereof:

	
   

  	
   

  
	
   

  	
  “The benefits, rights and features of an individual
  who participated in the Castrol Thrift Plan or the Solar 401(k) Plan of which
  the liabilities and assets are transferred to the Plan 

  

115

	
   

  	
   

  
	
   

  	
  before the close of business on December 31, 2003
  and January 2, 2004 respectively, but who does not have an account balance
  under the Plan at that time, will be determined under the applicable
  instruments in effect for Castrol Thrift Plan or the Solar 401(k) Plan,
  whichever is applicable, on the earlier of: (1) the day on which such
  individual’s account was reduced to zero; or (2) the day on which such
  individual’s employment terminated. The terms of this Plan apply to any
  accounts created for such individual hereunder on or after January 1, 2004.”

  

          3.     Effective
December 31, 2003, by adding the following paragraph after the first paragraph
following Section 1.2(d) of the Plan as a part thereof:

	
   

  	
   

  
	
   

  	
  “As of the merger of the Castrol Thrift Plan and the
  Solar 401(k) Plan into this Plan, the accounts held under each such plans
  have been allocated and posted to these Accounts in accordance with Appendix
  16.3.”

  

          4.     Effective
December 31, 2003, by adding the following new definitions to the end of
Article I of the Plan as a part thereof:

	
   

  	
   

  
	
   

  	
  “1.89        ‘Castrol
  Thrift Plan’ means the Burmah Castrol Group U.S.A. Thrift Plan as in
  effect on December 31, 2003.

  
	
   

  	
   

  
	
   

  	
  1.90          ‘Solar
  401(k) Plan’ means the BP Solar 401(k) Plan as in effect on December 31,
  2003.”

  

          5.     Effective
September 1, 2003, by adding the following new definition to the end of Article
I of the Plan as a part thereof:

	
   

  	
   

  
	
   

  	
  “1.91        “TNK-BP
  Employee” means a Participant who, with the consent of the Company,
  terminated employment with a Participating Employer in order to accept
  immediate employment with TNK-BP (or, as determined in the Administrator’s
  sole discretion, an affiliate supporting the TNK-BP venture).”

  

          6.     Effective
September 1, 2003, by adding the following subsection (c) to the end of Section
2.5 of the Plan as a part thereof:

	
   

  	
   

  
	
   

  	
  “(c) Notwithstanding the foregoing, a TNK-BP
  Employee’s period of time with TNK-BP

  

116

	
   

  	
   

  
	
   

  	
  (a joint venture of BP p.l.c. and the Alfa Group and
  Access-Renova) shall constitute Service with a Commonly Controlled Entity for
  purposes of the Plan. Recognition of Service under this paragraph shall cease
  upon the earlier of the Participant’s termination of employment from TNK-BP
  or the termination of BP p.l.c.’s entire interest in TNK-BP.”

  

          7.     Effective
April 1, 2003, by substituting the following for the first sentence of Section
3.6 of the Plan:

	
   

  	
   

  
	
   

  	
  “If an Employee: (i) was absent from employment for
  qualified military service with the armed forces of the United States on or
  after January 1, 2001, (ii) returns to employment with the Employer within
  the period required by the Uniformed Services Employment and Reemployment Act
  of 1994, or any successor statute, and (iii) was eligible to participate in
  the Plan at the commencement of the qualified military leave, then following
  his return to employment with the Employer, the Employer will contribute to
  the Trust an amount determined under this Section 3.6 as a contribution to
  the Participant’s Match Account and invested in the Company Stock Fund as
  soon as administratively practicable following the Employee’s return from
  qualified military leave.”

  

          8.     Effective
December 31, 2003, by adding the following language to the end of Section 6.5
of the Plan as part thereof:

	
   

  	
   

  
	
   

  	
  “In addition, the Plan Administrator reserves the
  right to take any and all actions he determines to be appropriate to minimize
  plan disruptions, and to protect the interest of all Plan Participants,
  including disruptions caused by excessive Participant trading or for any
  other reason. Such actions may include establishing redemption fees (and the
  terms and conditions thereof) or establishing rules which may operate to
  limit or restrict Participant rights under the Plan to effectuate
  transactions. The Plan Administrator may implement such actions without prior
  notice to Plan Participants.” 

  

          9.     Effective
January 1, 2004, by adding the following clarifying language to the end of
Section 7.1(e) of the Plan as part thereof:

	
   

  	
   

  
	
   

  	
  “; provided however, that the expiration of a
  contract period for term contract employees will not be considered an
  involuntary termination nor a separation agreement resulting in full vesting
  under the Plan.”

  

117

          10.     Effective
January 1, 2004, by adding the following names to the end of Appendix 1.43 of
the Plan as a part thereof:

	
   

  	
   

  
	
   

  	
  “11. BP Global Special Products (America) Inc.
  (formerly Dussek)

  
	
   

  	
   

  
	
   

  	
  12. Burmah Castrol Holdings Inc.

  
	
   

  	
   

  
	
   

  	
  13. Castrol Caribbean & Central America Inc.

  
	
   

  	
   

  
	
   

  	
  14. Castrol Heavy Duty Lubricants Inc.

  
	
   

  	
   

  
	
   

  	
  15. Castrol Industrial North America Inc.

  
	
   

  	
   

  
	
   

  	
  16. Castrol North America Inc.

  
	
   

  	
   

  
	
   

  	
  17.  BP Solar
  International LLC

  
	
   

  	
   

  
	
   

  	
  18. Arco Aluminum, Inc.”

  

          11.     Effective
September 30, 2003, by substituting the following for Appendix 1.58 of the
Plan:

	
   

  	
   

  	
   

  	
   

  
	
   

  	
  18.18

  	
  “APPENDIX 1.58

  
	
  TO

  
	
   

  	
   

  	
  (a)

  	
  BP EMPLOYEE SAVINGS PLAN

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (b)

  	
  CORE INVESTMENT OPTIONS

  

	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Short-Term

  	
   

  
	
   

  	
   

  	
  Short-Term Investments Fund

  
	
    

  	
   

  	
   

  	
   

  
	
   

  	
  Bond

  
	
   

  	
   

  	
  Bond Index Fund

  
	
   

  	
   

  	
  Bond Index Fund - Long Duration

  
	
   

  	
   

  	
  Bond Index Fund - Short Duration

  
	
   

  	
   

  	
  Income Fund (frozen – closed to new investments)

  
	
    

  	
   

  	
   

  	
   

  
	
   

  	
  Hybrid

  
	
   

  	
   

  	
  Balanced Index Fund – Aggressive

  
	
   

  	
   

  	
  Balanced Index Fund – Conservative

  
	
   

  	
   

  	
  Balanced Index Fund – Moderate

  
	
   

  	
   

  	
   

  
	
   

  	
  Large Cap

  
	
   

  	
   

  	
  Equity Index Fund

  

118

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Equity Index Fund – Growth

  
	
   

  	
   

  	
  Equity Index Fund – Value

  
	
   

  	
   

  	
   

  
	
   

  	
  Mid Cap

  
	
   

  	
   

  	
  Mid-Cap Equity Index Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  Small Cap

  
	
   

  	
   

  	
  Small-Cap Equity Index Fund

  
	
   

  	
   

  	
  Small-Cap Equity Index Fund – Growth

  
	
   

  	
   

  	
  Small-Cap Equity Index Fund – Value

  
	
   

  	
   

  	
   

  
	
   

  	
  International

  
	
   

  	
   

  	
  International Equity Index Fund

  
	
   

  	
   

  	
  International Equity Index Fund – Europe

  
	
   

  	
   

  	
  International Equity Index Fund – Pacific

  
	
   

  	
   

  	
   

  
	
   

  	
  Company Stock

  
	
   

  	
   

  	
  BP Stock Fund

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  MUTUAL
  FUND WINDOW INVESTMENT OPTIONS

  
	
   

  	
   

  	
   

  
	
   

  	
  Short-Term

  
	
   

  	
   

  	
  Fidelity Retirement Money Market Portfolio

  
	
   

  	
   

  	
  Fidelity Spartan U.S. Treasury Money Market Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  Bond Funds

  
	
   

  	
   

  	
  Intermediate-Term Government

  
	
   

  	
   

  	
   

  	
  Fidelity Government Income Fund

  
	
   

  	
   

  	
   

  	
  Strong Government Securities Fund

  
	
   

  	
   

  	
   

  	
  T. Rowe Price U.S. Treasury Intermediate Bond Fund

  
	
   

  	
   

  	
   

  	
  USAA GNMA Trust

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Long-Term Government

  
	
   

  	
   

  	
   

  	
  PIMCO Long-Term U.S. Government Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Short-Term Bond

  
	
   

  	
   

  	
   

  	
  Harbor Short Duration Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Institutional Short-Intermediate Government
  Fund

  
	
   

  	
   

  	
   

  	
  PIMCO Low Duration Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Intermediate-Term Bond

  
	
   

  	
   

  	
   

  	
  Dodge & Cox Income Fund

  
	
   

  	
   

  	
   

  	
  Dreyfus Premier Core Bond Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Investment Grade Bond Fund

  

119

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Harbor Bond Fund

  
	
   

  	
   

  	
   

  	
  INVESCO Select Income Fund

  
	
   

  	
   

  	
   

  	
  Janus Flexible Income Fund

  
	
   

  	
   

  	
   

  	
  MSIF Trust Core Plus Fixed Income Portfolio

  
	
   

  	
   

  	
   

  	
  PIMCO Total Return Fund

  
	
   

  	
   

  	
   

  	
  PIMCO Total Return Fund III

  
	
   

  	
   

  	
   

  	
  T. Rowe Price Spectrum Income Fund

  
	
   

  	
   

  	
   

  	
  USAA Income Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  High Yield Bond

  
	
   

  	
   

  	
   

  	
  Fidelity Capital & Income Fund

  
	
   

  	
   

  	
   

  	
  Fidelity High Income Fund

  
	
   

  	
   

  	
   

  	
  INVESCO High Yield Fund

  
	
   

  	
   

  	
   

  	
  MSIF Trust High Yield Portfolio

  
	
   

  	
   

  	
   

  	
  PIMCO High Yield Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Convertible Bond

  
	
   

  	
   

  	
   

  	
  Fidelity Convertible Securities Fund

  
	
   

  	
   

  	
   

  	
  Calamos Convertible Fund – Class A (closed to

  
	
   

  	
   

  	
   

  	
  new investments 4/30/03)

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Emerging Markets Bond

  
	
   

  	
   

  	
   

  	
  Fidelity New Markets Income Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  International Bond

  
	
   

  	
   

  	
   

  	
  Payden & Rygel Global Fixed Income Fund

  
	
   

  	
   

  	
   

  	
  PIMCO Foreign Bond Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Hybrid Funds

  
	
   

  	
   

  	
  Domestic Hybrid

  
	
   

  	
   

  	
   

  	
  Calvert Social Investment Fund Balanced Portfolio

  
	
   

  	
   

  	
   

  	
  Columbia Balanced Fund, Inc.

  
	
   

  	
   

  	
   

  	
  Dreyfus Founders Balanced Fund

  
	
   

  	
   

  	
   

  	
  Dreyfus Premier Balanced Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Balanced Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Puritan® Fund

  
	
   

  	
   

  	
   

  	
  INVESCO Total Return Fund

  
	
   

  	
   

  	
   

  	
  Janus Balanced Fund

  
	
   

  	
   

  	
   

  	
  MSIF Trust Balanced Portfolio

  
	
   

  	
   

  	
   

  	
  Vanguard Asset Allocation Fund

  
	
   

  	
   

  	
   

  	
  Vanguard Wellesley Income Fund

  
	
   

  	
   

  	
   

  	
  Vanguard Wellington Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Large Cap U.S. Stock Funds

  
	
   

  	
   

  	
  Large Cap Value

  

120

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  American Century Income & Growth Fund

  
	
   

  	
   

  	
   

  	
  American Fundamental Investors Fund

  
	
   

  	
   

  	
   

  	
  American Mutual Fund

  
	
   

  	
   

  	
   

  	
  American Investment Company of America

  
	
   

  	
   

  	
   

  	
  American Washington Mutual Investors Fund 

  
	
   

  	
   

  	
   

  	
  Clipper Fund

  
	
   

  	
   

  	
   

  	
  Credit Suisse Large Cap Value Fund

  
	
   

  	
   

  	
   

  	
  Dreyfus Premier Strategic Value Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Equity-Income Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Equity-Income II Fund

  
	
   

  	
   

  	
   

  	
  INVESCO Value Equity Fund

  
	
   

  	
   

  	
   

  	
  T. Rowe Price Dividend Growth Fund

  
	
   

  	
   

  	
   

  	
  T. Rowe Price Equity Income Fund, Inc.

  
	
   

  	
   

  	
   

  	
  T. Rowe Price Value Fund

  
	
   

  	
   

  	
   

  	
  Vanguard Equity Income Fund

  
	
   

  	
   

  	
   

  	
  Vanguard Windsor Fund

  
	
   

  	
   

  	
   

  	
  Vanguard Windsor II Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Large Cap Blend

  
	
   

  	
   

  	
   

  	
  Credit Suisse Capital Appreciation Fund

  
	
   

  	
   

  	
   

  	
  Domini Social Equity Fund

  
	
   

  	
   

  	
   

  	
  Dreyfus Appreciation Fund, Inc.

  
	
   

  	
   

  	
   

  	
  Dreyfus Disciplined Stock Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Disciplined Equity Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Dividend Growth Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Export and Multinational Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Fiftysm

  
	
   

  	
   

  	
   

  	
  Fidelity Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Trend Fund

  
	
   

  	
   

  	
   

  	
  INVESCO Core Equity Income Fund

  
	
   

  	
   

  	
   

  	
  Legg Mason Value Trust, Inc.

  
	
   

  	
   

  	
   

  	
  Neuberger Berman Socially Responsive Trust

  
	
   

  	
   

  	
   

  	
  PIMCO StocksPLUS Fund

  
	
   

  	
   

  	
   

  	
  MSIF Trust Equity Portfolio

  
	
   

  	
   

  	
   

  	
  Putnam Investors Fund A

  
	
   

  	
   

  	
   

  	
  Vanguard Growth and Income Fund

  
	
   

  	
   

  	
   

  	
  Vanguard PRIMECAP Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Large Cap Growth

  
	
   

  	
   

  	
   

  	
  AIM Blue Chip Fund

  
	
   

  	
   

  	
   

  	
  Alger Capital Appreciation Institutional Portfolio

  
	
   

  	
   

  	
   

  	
  American Century Equity Growth Fund

  
	
   

  	
   

  	
   

  	
  Columbia Growth Fund

  
	
   

  	
   

  	
   

  	
  Dreyfus Founders Growth Fund F

  
	
   

  	
   

  	
   

  	
  Dreyfus Premier Third Century Fund, Inc.

  

121

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Fidelity Capital Appreciation Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Blue Chip Growth Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Growth Company Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Large Cap Stock Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Independence Fund

  
	
   

  	
   

  	
   

  	
  Fidelity OTC Portfolio

  
	
   

  	
   

  	
   

  	
  Fidelity Focused Stock Fund

  
	
   

  	
   

  	
   

  	
  Harbor Capital Appreciation Fund

  
	
   

  	
   

  	
   

  	
  INVESCO Growth Fund

  
	
   

  	
   

  	
   

  	
  Janus Fund

  
	
   

  	
   

  	
   

  	
  Janus Growth and Income Fund

  
	
   

  	
   

  	
   

  	
  Janus Twenty Fund

  
	
   

  	
   

  	
   

  	
  Merrill Lynch Fundamental Growth Fund, Inc.

  
	
   

  	
   

  	
   

  	
  Morgan Stanley Dean Witter Institutional Fund, Inc.
  – 

  
	
   

  	
   

  	
   

  	
             Equity Growth Portfolio Class A

  
	
   

  	
   

  	
   

  	
  Papp America – Abroad Fund

  
	
   

  	
   

  	
   

  	
  Scudder Large Company Growth Fund

  
	
   

  	
   

  	
   

  	
  Strong Growth Fund

  
	
   

  	
   

  	
   

  	
  Strong Large Cap Growth Fund

  
	
   

  	
   

  	
   

  	
  T. Rowe Price Blue Chip Growth Fund

  
	
   

  	
   

  	
   

  	
  T. Rowe Price Growth Stock Fund

  
	
   

  	
   

  	
   

  	
  USAA Growth Fund

  
	
   

  	
   

  	
   

  	
  Vanguard U.S. Growth Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Medium Cap U.S. Stock Funds

  
	
   

  	
   

  	
  Medium Cap Value

  
	
   

  	
   

  	
   

  	
  American Century Equity Income Fund

  
	
   

  	
   

  	
   

  	
  American Century Value Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Value Fund

  
	
   

  	
   

  	
   

  	
  Strong Multi-Cap Value Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Medium Cap Blend

  
	
   

  	
   

  	
   

  	
  Ariel Appreciation Fund

  
	
   

  	
   

  	
   

  	
  Legg Mason Special Investment Trust, Inc.

  
	
   

  	
   

  	
   

  	
  Montgomery Global 20 Fund® – Class R
  (eliminated 6/19/03)

  
	
   

  	
   

  	
   

  	
  Strong Opportunity Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Medium Cap Growth

  
	
   

  	
   

  	
   

  	
  Alger MidCap Growth Institutional Portfolio

  
	
   

  	
   

  	
   

  	
  Baron Asset Fund

  
	
   

  	
   

  	
   

  	
  Credit Suisse Emerging Growth Fund

  
	
   

  	
   

  	
   

  	
  Delaware Trend Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Aggressive Growth Fund

  
	
   

  	
   

  	
   

  	
  Fidelity Mid-Cap Stock Fund

  
	
   

  	
   

  	
   

  	
  INVESCO Dynamics Fund

  

122

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
MSIF Trust Mid Cap Growth

	
 

	
 

	
 

	
T. Rowe Price Mid-Cap Growth Fund

	
 

	
 

	
 

	
 

	
 

	
Small Cap U.S. Stock Funds

	
 

	
 

	
Small Cap Value

	
 

	
 

	
 

	
Franklin Balance Sheet Investment Fund Class A

	
 

	
 

	
 

	
PIMCO NFJ Small-Cap Value Fund

	
 

	
 

	
 

	
 

	
 

	
 

	
Small Cap Blend

	
 

	
 

	
 

	
Credit Suisse Small Cap Value Fund

	
 

	
 

	
 

	
Morgan Stanley Institutional Small Cap Core
  Portfolio

	
 

	
 

	
 

	
Neuberger Berman Genesis Trust

	
 

	
 

	
 

	
T. Rowe Price Small-Cap Stock Fund

	
 

	
 

	
 

	
 

	
 

	
 

	
Small Cap Growth

	
 

	
 

	
 

	
Alger Small Cap Institutional Portfolio

	
 

	
 

	
 

	
Baron Growth Fund

	
 

	
 

	
 

	
Dreyfus Founders Discovery Fund F

	
 

	
 

	
 

	
Fidelity Small Cap Independence

	
 

	
 

	
 

	
Franklin Small Mid Cap Growth Fund I – Class A

	
 

	
 

	
 

	
INVESCO Small Company Growth Fund

	
 

	
 

	
 

	
Liberty Acorn Fund

	
 

	
 

	
 

	
Managers Special Equity Fund

	
 

	
 

	
 

	
Morgan Stanley Dean Witter Institutional Fund, Inc.
  –

	
 

	
 

	
 

	
          Small
  Company Growth-Portfolio Class B

	
 

	
 

	
 

	
PIMCO Emerging Companies Fund

	
 

	
 

	
 

	
 

	
 

	
Specialty U.S. Stock Funds

	
 

	
 

	
Specialty-Health Care

	
 

	
 

	
 

	
INVESCO Health Sciences Fund

	
 

	
 

	
 

	
T. Rowe Price Health Sciences Fund

	
 

	
 

	
 

	
 

	
 

	
 

	
Specialty-Natural Resources

	
 

	
 

	
 

	
T. Rowe Price New Era Fund

	
 

	
 

	
 

	
 

	
 

	
 

	
Specialty-Real Estate

	
 

	
 

	
 

	
Cohen & Steers Realty Shares

	
 

	
 

	
 

	
Fidelity Real Estate Investment Portfolio

	
 

	
 

	
 

	
 

	
 

	
 

	
Specialty Technology

	
 

	
 

	
 

	
Morgan Stanley Institutional Fund, Inc. –

	
 

	
 

	
 

	
          Technology
  Portfolio Class A

	
 

	
 

	
 

	
Munder NetNet

	
 

	
 

	
 

	
PBGH Technology & Communications Fund

	
 

	
 

	
 

	
PIMCO PEA Innovation Institutional Fund

123

	
 

	
 

	
 

	
 

	
 

	
 

	
Specialty-Utilities

	
 

	
 

	
 

	
Fidelity Utilities Fund

	
 

	
 

	
 

	
INVESCO Utilities Fund

	
 

	
 

	
 

	
 

	
 

	
International Stock Funds

	
 

	
 

	
Foreign Stock

	
 

	
 

	
 

	
American Century International Growth Fund

	
 

	
 

	
 

	
Credit Suisse International Focus Fund

	
 

	
 

	
 

	
Fidelity Aggressive International Fund

	
 

	
 

	
 

	
Fidelity Diversified International Fund

	
 

	
 

	
 

	
Fidelity Emerging Markets Fund

	
 

	
 

	
 

	
Fidelity Global Balanced Fund

	
 

	
 

	
 

	
Fidelity International Growth & Income Fund

	
 

	
 

	
 

	
Fidelity Overseas Fund

	
 

	
 

	
 

	
GAM International Fund A

	
 

	
 

	
 

	
J.P. Morgan Fleming International Value Fund

	
 

	
 

	
 

	
Lazard Emerging Markets Portfolio

	
 

	
 

	
 

	
Lazard International Equity Portfolio

	
 

	
 

	
 

	
Managers International Equity Fund

	
 

	
 

	
 

	
Putnam International Equity Fund A

	
 

	
 

	
 

	
Scudder International Equity Fund

	
 

	
 

	
 

	
Templeton Developing Markets Trust A

	
 

	
 

	
 

	
Templeton Foreign Fund A

	
 

	
 

	
 

	
Templeton Institutional Funds, Inc. – Emerging
  Markets Series

	
 

	
 

	
 

	
 

	
 

	
 

	
Europe Stock

	
 

	
 

	
 

	
Fidelity Europe Capital Appreciation Fund

	
 

	
 

	
 

	
Fidelity Europe Fund

	
 

	
 

	
 

	
INVESCO European Fund

	
 

	
 

	
 

	
Merrill Lynch EuroFund

	
 

	
 

	
 

	
Putnam Europe Equity Fund A

	
 

	
 

	
 

	
T. Rowe Price European Stock Fund

	
 

	
 

	
 

	
 

	
 

	
 

	
Latin America Stock

	
 

	
 

	
 

	
Fidelity Latin America Fund

	
 

	
 

	
 

	
Scudder Latin America Fund

	
 

	
 

	
 

	
T. Rowe Price Latin America Fund

	
 

	
 

	
 

	
 

	
 

	
 

	
Diversified Pacific Asia Stock

	
 

	
 

	
 

	
Fidelity Pacific Basin Fund

	
 

	
 

	
 

	
Fidelity Southeast Asia Fund

	
 

	
 

	
 

	
Merrill Lynch Pacific Fund, Inc.

	
 

	
 

	
 

	
 

	
 

	
 

	
Pacific/Asia Ex Japan Stock

124

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
AIM Asian Pacific Growth Fund A

	
 

	
 

	
 

	
Scudder Pacific Opportunities Fund – Class S

	
 

	
 

	
 

	
 

	
 

	
 

	
Japan Stock

	
 

	
 

	
 

	
Fidelity Japan Fund

	
 

	
 

	
 

	
The Japan Fund, Inc. - Class S

	
 

	
 

	
 

	
 

	
 

	
 

	
World Stock

	
 

	
 

	
 

	
AIM Global Growth A Fund

	
 

	
 

	
 

	
American Funds Capital World Growth and Income Fund

	
 

	
 

	
 

	
American Funds New Perspective Fund

	
 

	
 

	
 

	
Dreyfus Premier Worldwide Growth Fund, Inc.

	
 

	
 

	
 

	
Janus Worldwide Fund

	
 

	
 

	
 

	
Mutual Discovery Fund Class A

	
 

	
 

	
 

	
Putnam Global Equity Fund A

	
 

	
 

	
 

	
Templeton Growth Fund, Inc. A

	
 

	
 

	
 

	
Templeton World Fund A

	
 

	
 

	
 

	
 

	
 

	
Hybrid Asset Allocation Funds

	
 

	
 

	
Fidelity Freedom Income® Fund

	
 

	
 

	
Fidelity Freedom 2000® Fund

	
 

	
 

	
Fidelity Freedom 2010® Fund

	
 

	
 

	
Fidelity Freedom 2020® Fund

	
 

	
 

	
Fidelity Freedom 2030® Fund”

         12.
  Effective December 1, 2001, by replacing the phrase “Supplement B” with the
phrase “Supplement C” each time it appears in Item 10 of the Third Amendment to
the Plan.

         13.
  Effective January 1, 2004, by adding the following new Supplement D at the end
of Appendix 16.3 of the Plan as a part thereof:

“SUPPLEMENT D

	
 

	
 

	
 

	
         16.3
  (a)     Purpose. The purpose of this
  Supplement D is to set forth the special provisions (not otherwise set forth
  in the Plan) which apply to the participants in the Burmah Castrol Group
  U.S.A. Thrift Plan (the ‘Castrol Thrift Plan’) immediately prior to January
  1, 2004, and including Alternative Payees and eligible Beneficiaries of such
  persons (collectively, the ‘Castrol Thrift Plan Participants’),
  notwithstanding any other provisions of the Plan to the contrary.

	
 

	
 

	
 

	
          (b)     Accounts.
  As of January 1, 2004, each Castrol Thrift Plan Participant 

125

	
 

	
 

	
 

	
 

	
 

	
will have
  allocated and posted to the Accounts under the Plan the amounts credited to
  such Castrol Thrift Plan Participant’s accounts under the Castrol Thrift
  Plan, whichever is applicable, in accordance with the following Schedule:

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Castrol Thrift Plan Account

	
 

	
Plan Account

	
 

	
 

	
 

	
 

	
 

	
 

	
ARTICLE
  XIX
                            Voluntary
  Contribution Account           

	
                    After-Tax
  Account

	
 

	
 

	
 

	
 

	
 

	
Pre-Tax Account

	
 

	
Before-Tax Account

	
 

	
 

	
Incentive Contribution Account

	
 

	
Match Account

	
 

	
 

	
Rollover Account

	
 

	
Rollover Account

	
 

	
 

	
Prior Plan Pre-Tax Account

	
 

	
Before-Tax Account

	
 

	
 

	
Prior Plan ESOP Account

	
 

	
Prior Plan Company

	
 

	
 

	
 

	
 

	
          Contribution
  Account

	
 

	
 

	
Prior Life Insurance Account

	
 

	
Prior Plan Company

	
 

	
 

	
 

	
 

	
          Contribution
  Account

	
 

	
 

	
 

	
         (c)     Service.
  For periods prior to January 1, 2004, the determination of a Participant’s
  Service will be made pursuant to the records of the Castrol Thrift Plan
  immediately prior to January 1, 2004.

	
 

	
 

	
 

	
         (d)     Investment
  and Contribution Elections and Beneficiary Designation. Notwithstanding
  anything contained herein to the contrary, any investment election,
  contribution election or beneficiary designation accepted by the Plan Administrator
  and not otherwise revoked, under the Castrol Thrift Plan immediately before
  January 1, 2004, will continue in effect as a valid Investment Election,
  Contribution Election or Beneficiary designation under the Plan until the
  earliest of: (1) the effective date of a new Investment Election,
  Contribution Election or Beneficiary designation; or (2) with respect to
  any Investment Election or Contribution Election, the date the individual
  ceases to be a Participant. Notwithstanding anything to the contrary in the
  Castrol Thrift Plan as in effect immediately prior to January 1, 2004, Match
  Contributions to be made to the Plan on or after January 1, 2004, to which
  Castrol Thrift Plan Participants are entitled with respect to periods
  beginning before that date will be made in Company Stock in accordance with
  the terms of the Plan.

	
 

	
 

	
 

	
         (e)     Vesting.
  Notwithstanding anything contained herein to the contrary, an Eligible
  Employee who becomes a Participant in the Plan on January 1, 2004, and who
  was eligible to participate in the Castrol Thrift Plan on December 31, 2003
  will be fully vested in his Match Account under the Plan.”

         14.
 Effective January 2, 2004, by adding the following new Supplement E at the end
of Appendix 16.3 of the Plan as a part thereof:

126

“SUPPLEMENT E

	
 

	
 

	
 

	
          16.3
  (a)     Purpose. The purpose of this
  Supplement E is to set forth the special provisions (not otherwise set forth
  in the Plan) which apply to the participants in the BP Solar 401(k) Plan (the
  ‘Solar Plan’) immediately prior to January 2, 2004, and including Alternative
  Payees and eligible Beneficiaries of such persons (collectively, the ‘Solar
  Plan Participants’), notwithstanding any other provisions of the Plan to the
  contrary.

	
 

	
 

	
 

	
          (b)     Accounts.
  As of January 2, 2004, each Solar Plan Participant will have allocated and
  posted to the Accounts under the Plan the amounts credited to such Solar Plan
  Participant’s accounts under the Solar Plan, whichever is applicable, in
  accordance with the following schedule:

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
                     Solar
  Plan Account

	
Plan Account

	
 

	
ARTICLE
 XX

	
     Before-Tax Account                             

	
                          

	
Before-Tax Account

	
 

	
 

	
 

	
 

	
 

	
 

	
ARTICLE
XXI  

	
            Match Account                              

	
                          

	
Match Account

	
 

	
 

	
 

	
 

	
 

	
 

	
                     Rollover
  Account

	
Rollover Account

	
 

	
 

	
 

	
          (c)     Service.
  For periods prior to January 2, 2004, the determination of a Participant’s
  Service will be made pursuant to the records of the Solar Plan immediately
  prior to January 2, 2004.

	
 

	
 

	
 

	
          (d)     Investment
  and Contribution Elections and Beneficiary Designation. Notwithstanding
  anything contained herein to the contrary, any investment election,
  contribution election or beneficiary designation accepted by the Plan
  Administrator and not otherwise revoked, under the Solar Plan immediately
  before January 2, 2004, will continue in effect as a valid Investment
  Election (as mapped to the Plan investment funds), Contribution Election or
  Beneficiary designation under the Plan until the earliest of: (1) the
  effective date of a new Investment Election, Contribution Election or
  Beneficiary designation; or (2) with respect to any Investment Election
  or Contribution Election, the date the individual ceases to be a Participant.
  Notwithstanding anything to the contrary in the Solar Plan as in effect
  immediately prior to January 2, 2004, Match Contributions to be made to the
  Plan on or after January 2, 2004, to which Solar Plan Participants are
  entitled with respect to periods beginning before that date will be made in
  Company Stock in accordance with the terms of the Plan.

	
 

	
 

	
 

	
          (e)     Vesting.
  Notwithstanding anything contained herein to the contrary, an Eligible
  Employee who becomes a Participant in the Plan on January 2, 2004, and who
  was eligible to participate in the Solar 401(k) Plan on December 31, 2003
  will be fully vested in his Match Account under the Plan.”

127

*     *     *     *     *

          I,
Donald Packham, Senior Vice President, Human Resources, of the Corporation,
hereby approve and adopt the foregoing amendment to the Plan.

	
 

	
 

	
 

	
 

	
Dated this 23rd day of December, 2003

	
 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Senior Vice President, Human Resources

	
 

	
 

	
BP Corporation North America Inc.

	
 

128

EIGHTH
AMENDMENT

OF

BP EMPLOYEE SAVINGS PLAN

(Amended
and Restated Generally Effective as of January 1, 2002)

          WHEREAS,
BP Corporation North America Inc. (the “Corporation”) maintains the BP Employee
Savings Plan (the “Plan”);

          WHEREAS,
the Plan has previously been amended and further amendment of the Plan now is
considered desirable;

          WHEREAS,
the Corporation owns all of the outstanding stock of BP Company North America
Inc. (“BPCNAI”), BPCNAI owns all of the outstanding stock of BP Amoco Chemical
Company (“BPAC”), BPAC owns all of the outstanding stock of BP Amoco Chemical
Holding Company (the “BPACHC”) and BPACHC owns all of the outstanding stock of
Amoco Fabrics and Fibers Company (“AFFC”);

          WHEREAS,
under a Stock Purchase Agreement (the “Agreement”) entered into as of October
4, 2004, by and between AFFC Acquisition Co., a Delaware corporation (the
“Buyer”), and BPACHC, Buyer will purchase, among other things, all of the
outstanding stock of AFFC;

          WHEREAS,
employees of AFFC and certain employees of BPAC who are assigned to perform
work on a full-time basis on behalf of AFFC immediately prior to “Closing” (as
that term is defined under the Agreement) are participants in the Plan;

          WHEREAS,
contingent on the completion of the transactions under the Agreement, by
Resolution of the Board of Directors of the Corporation, the Corporation has
agreed to amend the Plan to reflect full vesting of applicable participant
accounts under the Plan; 

          WHEREAS,
pursuant to the power delegated to a Designated Officer under Section 16.1 of
the Plan, the President of the Corporation as a Designated Officer, has the
authority to amend the Plan;  and

          WHEREAS,
in all other respects, the Plan, as amended, will continue in full force and
effect;

129

          NOW,
THEREFORE, contingent on the completion of the transactions under the
Agreement, effective as of the date of Closing under the Agreement, the
President of the Corporation hereby amends the Plan, by adding the following
new subsection (4) to the end of Section 7.1(e) of the Plan as a part thereof:

	
   

  	
   

  
	
   

  	
            “(4)
  and such termination results directly from the sale of all of the outstanding
  stock of Amoco Fabrics and Fiber Company and certain assets of Amoco Fabrics
  & Fibers Ltd. under the Stock Purchase Agreement entered into as of
  October 4, 2004, by and between AFFC Acquisition Co., a Delaware corporation
  and BP Amoco Chemical Holding Company.”

  

*     *     *     *     *

I, Ross J. Pillari, President of the Corporation,
hereby approve and adopt the foregoing amendment to the Plan.

	
   

  	
   

  
	
   

  	
  Dated this 29th day of November, 2004

  
	
   

  	
   

  
	
   

  	
  

  
	
   

  	
  President

  
	
   

  	
  BP Corporation North America Inc.

  

130

NINTH
AMENDMENT

OF

BP EMPLOYEE SAVINGS PLAN

(As
Amended and Restated Generally Effective as of January 1, 2002)

          WHEREAS,
BP Corporation North America Inc. (the “Corporation”) maintains the BP Employee
Savings Plan (the “Plan”); 

          WHEREAS,
the Plan has previously been amended and further amendment of the Plan now is
considered desirable; and

          WHEREAS,
pursuant to the power delegated to a Designated Officer under Section 16.1 of
the Plan, the Senior Vice President, Human Resources, as a Designated Officer
of the Corporation (or his delegee), has the authority to amend the Plan; 

          NOW,
THEREFORE, the Senior Vice President, Human Resources (or his delegee), of the
Corporation hereby amends the Plan, in the following particulars:

          1.  Effective
January 1, 2004, by substituting
the following for Section 1.16 of the Plan:

	
   

  	
   

  
	
   

  	
            “1.16
‘Beneficiary’ means one person, more than
one person or a trust or legal entity entitled to receive any benefits
payable on the death of a Participant in accordance with Sections 12.3 and
12.5. Beneficiaries shall be
designated on such forms or in such manner as determined by the
Administrator.” 

  

          2.  Effective August
9, 2004, by substituting
the following for subparagraph (F) in Section 1.28(a)(2) of the Plan and by
adding the following new subparagraph (G) to the end of Section 1.28(a)(2) of
the Plan as a part thereof: 

	
   

  	
   

  
	
   

  	
            “(F)     amounts that: (i)  are contributed, at
  the election of an Eligible Employee, on behalf of the Eligible Employee to a
  cafeteria plan or a cash or deferred arrangement and not included in the
  Eligible Employee’s gross income for federal income tax purposes by reason of
  Sections 125, 132(f) or 402(e)(3) of the Code and (ii) would, were it not for
  the Eligible Employee’s election, (I) meet the requirement imposed by
  subsection (a)(1), above, and (II) fall in one of 

  

131

	
   

  	
   

  
	
   

  	
  the categories listed in subparagraphs (A) through
  (E) or (G) of this subsection (a)(2); or

  
	
   

  	
   

  
	
   

  	
            (G)     amounts classified as ‘Fire Brigade Pay’ paid to Eligible Employees covered
  by a collective bargaining agreement and employed at the Carson California
  Refinery; and”

  

          3.
Effective as of January 1, 2005, by adding the following new subsection (k) to
the end of Section 1.39 of the Plan as a part thereof:

	
   

  	
   

  
	
   

  	
            “(k)     Effective January 1, 2005, salaried employees of BP West Coast Products LLC,
  who were previously eligible to participate in the Plan will cease to be
  eligible to participate in the Plan.”

  

          4.  Effective
January 1, 2004, by adding the
following new subsection (d) to the end of
Section 2.6 of the Plan as a part thereof:

	
   

  	
   

  
	
   

  	
            
  “(d)     To the extent determined by
  resolution of a Designated Officer, a Participant’s Service will include his
  service as an employee of a Related Company, as defined herein, if the
  Participant was an employee of the Related Company immediately prior to
  becoming a Participant.  A ‘Related
  Company’ is a company in which a Commonly Controlled Entity has an ownership
  interest or a company that has provided services to a Commonly Controlled
  Entity.”

  

          5.  Effective
January 1, 2005, by substituting
the phrase “for investment in accordance with Section 6.1 of the Plan” for the
phrase “for investment in the Company Stock Fund” in the first sentence of
Section 3.3 of the Plan.

          6.  Effective
January 1, 2005, by substituting
the following for the last sentence of Section 3.3 of the Plan:

          “Company
Match Contributions will be made by the Company in the form of cash.”

132

          7.  Effective
January 1, 2005, by substituting
the phrase “and invested in accordance with Section 6.1 of the Plan” for the
phrase “and invested in the Company Stock Fund” in the first sentence of
Section 3.6 of the Plan.

          8.  Effective
January 1, 2005, by deleting the
second sentence in Section 6.1(a) of the Plan and by substituting the following
for the third sentence in Section 6.1(a) of the Plan:

          “In
the absence of an Investment Election, and subject to such rules as the
Administrator may make, Contributions (and loan repayments) will be invested in
the Short-Term Investment Fund.”

          9.  Effective June
1, 2004, by substituting the
following for subparagraphs (2) and (3) of Section 7.1 (e) of the Plan:

	
   

  	
   

  
	
   

  	
            “(2)  under
the terms of a written voluntary or
  involuntary severance plan of general application duly adopted by the
  Company; or 

  
	
   

  	
   

  
	
   

  	
            (3)  such
termination is involuntary and a
  result of the outsourcing of the Participant’s employment function pursuant
  to an agreement between a Contractor Firm and an Employer;

  
	
   

  	
   

  
	
   

  	
  provided, however, that the expiration or
  termination of an employment contract between the Employer and Eligible
  Employee will not be considered an involuntary termination or a severance
  resulting in full vesting under this Section 7.1 of the Plan.”

  

          10.  Effective
January 1, 2005, by deleting the
reference to “BP West Coast Products LLC” in Appendix 1.43 of the Plan.

          11.  Effective
September 30, 2004, by
substituting the following for Appendix 1.58 of the Plan:

133

“APPENDIX
1.58

TO

BP EMPLOYEE SAVINGS PLAN

CORE
INVESTMENT OPTIONS

	
   

  	
   

  
	
  Short-Term

  
	
   

  	
  Short-Term Investments Fund

  
	
   

  	
   

  
	
  Bond

  
	
   

  	
  Bond Index Fund

  
	
   

  	
  Bond Index Fund - Long Duration

  
	
   

  	
  Bond Index Fund - Short Duration

  
	
   

  	
  Income Fund (frozen – closed to new investments)

  
	
   

  	
   

  
	
  Hybrid

  
	
   

  	
  Balanced Index Fund – Aggressive

  
	
   

  	
  Balanced Index Fund – Conservative

  
	
   

  	
  Balanced Index Fund – Moderate

  
	
   

  	
   

  
	
  Large Cap

  
	
   

  	
  Equity Index Fund

  
	
   

  	
  Equity Index Fund – Growth

  
	
   

  	
  Equity Index Fund – Value

  
	
   

  	
   

  
	
  Mid Cap

  
	
   

  	
  Mid-Cap Equity Index Fund

  
	
   

  	
   

  
	
  Small Cap

  
	
   

  	
  Small-Cap Equity Index Fund

  
	
   

  	
  Small-Cap Equity Index Fund – Growth

  
	
   

  	
  Small-Cap Equity Index Fund – Value

  

134

	
   

  	
   

  
	
  International

  
	
   

  	
  International Equity Index Fund

  
	
   

  	
  International Equity Index Fund – Europe

  
	
   

  	
  International Equity Index Fund – Pacific

  
	
   

  	
   

  
	
  Company Stock

  
	
   

  	
  BP Stock Fund

  

MUTUAL FUND WINDOW INVESTMENT OPTIONS

	
   

  	
   

  	
   

  
	
  Short-Term

  
	
   

  	
  Fidelity
  Retirement Money Market Portfolio

  
	
   

  	
  Spartan U.S.
  Treasury Money Market Fund

  
	
   

  	
   

  
	
  Bond Funds

  
	
   

  	
  Intermediate-Term Government

  
	
   

  	
   

  	
  Fidelity
  Government Income Fund

  
	
   

  	
   

  	
  Strong
  Government Securities Fund-Investor Class

  
	
   

  	
   

  	
  T. Rowe
Price
  U.S. Treasury Intermediate Bond Fund

  
	
   

  	
   

  	
  USAA GNMA
Trust

  
	
   

  	
   

  	
   

  
	
   

  	
  Long-Term Government

  
	
   

  	
   

  	
  PIMCO
Long-Term
  U.S. Government Fund Institutional Class

  
	
   

  	
   

  	
   

  
	
   

  	
  Short-Term Bond

  
	
   

  	
   

  	
  Harbor Short
  Duration Fund

  
	
   

  	
   

  	
  Fidelity
  Institutional Short-Intermediate Government Fund

  
	
   

  	
   

  	
  PIMCO Low
  Duration Fund Institutional Class

  
	
   

  	
   

  	
   

  
	
   

  	
  Intermediate-Term Bond

  
	
   

  	
   

  	
  AIM Income
  Fund-Investor Class

  
	
   

  	
   

  	
  Dodge &
Cox
  Income Fund

  

135

	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Dreyfus
Premier
  Core Bond Fund – Class A

  
	
   

  	
   

  	
  Fidelity
  Investment Grade Bond Fund

  
	
   

  	
   

  	
  Harbor Bond
Fund

  
	
   

  	
   

  	
  Janus
Flexible
  Income Fund

  
	
   

  	
   

  	
  MSIF Trust
Core
  Plus Fixed Income Portfolio Institutional Class

  
	
   

  	
   

  	
  PIMCO Total
  Return Fund Institutional Class

  
	
   

  	
   

  	
  PIMCO Total
  Return Fund III Institutional Class

  
	
   

  	
   

  	
  T. Rowe
Price
  Spectrum Income Fund

  
	
   

  	
   

  	
  USAA Income
Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  High Yield Bond

  
	
   

  	
   

  	
  AIM High
Yield
  Fund-Investor Class

  
	
   

  	
   

  	
  Fidelity
Capital
  & Income Fund

  
	
   

  	
   

  	
  Fidelity
High
  Income Fund

  
	
   

  	
   

  	
  MSIF Trust
High
  Yield Institutional Class

  
	
   

  	
   

  	
  PIMCO High
Yield
  Fund Institutional Class

  
	
   

  	
   

  	
   

  
	
   

  	
  Convertible Bond

  
	
   

  	
   

  	
  Fidelity
  Convertible Securities Fund

  
	
   

  	
   

  	
  Calamos
  Convertible Fund – Class A (closed to new investments 4/30/03)

  
	
   

  	
   

  	
   

  
	
   

  	
  Emerging Markets Bond

  
	
   

  	
   

  	
  Fidelity New
  Markets Income Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  International Bond

  
	
   

  	
   

  	
  Payden &
  Rygel Global Fixed Income Fund – Class R

  
	
   

  	
   

  	
  PIMCO
Foreign
  Bond Fund (U.S. Dollar-Hedged) Institutional Class

  
	
   

  	
   

  	
   

  
	
  Hybrid Funds

  
	
   

  	
  Domestic Hybrid

  
	
   

  	
   

  	
  Calvert
Social
  Investment Fund Balanced Portfolio Class A

  

136

	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Columbia
Balanced
  Fund – Class Z

  
	
   

  	
   

  	
  Dreyfus
Founders
  Balanced Fund Class F

  
	
   

  	
   

  	
  Dreyfus
Premier
  Balanced Fund Class R

  
	
   

  	
   

  	
  Fidelity
  Balanced Fund

  
	
   

  	
   

  	
  Fidelity
Puritan®
  Fund

  
	
   

  	
   

  	
  INVESCO
Total
  Return Fund – Investor Class (closed to new investments

  
	
   

  	
   

  	
  Janus
Balanced
  Fund

  
	
   

  	
   

  	
  MSIF Trust
  Balanced Portfolio Advisor Class

  
	
   

  	
   

  	
  Vanguard
Asset
  Allocation Fund

  
	
   

  	
   

  	
  Vanguard
  Wellesley Income Fund – Admiral Class

  
	
   

  	
   

  	
  Vanguard
  Wellington Fund – Admiral Class

  

	
   

  	
   

  	
   

  
	
  Large Cap U.S. Stock Funds

  
	
   

  	
  Large Cap Value

  
	
   

  	
   

  	
  AIM Large
Cap
  Basic Value Fund-Investor Class

  
	
   

  	
   

  	
  American
Century
  Income & Growth Fund – Investor Class

  
	
   

  	
   

  	
  American
  Fundamental Investors Fund – Class A

  
	
   

  	
   

  	
  American
  Investment Company of America – Class A

  
	
   

  	
   

  	
  American
Mutual
  Fund – Class A

  
	
   

  	
   

  	
  American
  Washington Mutual Investors Fund – Class A 

  
	
   

  	
   

  	
  Clipper
Fund

  
	
   

  	
   

  	
  Credit
Suisse
  Large Cap Value Fund – Class A

  
	
   

  	
   

  	
  Dreyfus
Premier
  Strategic Value Fund – Class A

  
	
   

  	
   

  	
  Fidelity
  Equity-Income Fund

  
	
   

  	
   

  	
  Fidelity
  Equity-Income II Fund

  
	
   

  	
   

  	
  T. Rowe
Price
  Dividend Growth Fund

  
	
   

  	
   

  	
  T. Rowe
Price
  Equity Income Fund, Inc.

  
	
   

  	
   

  	
  T. Rowe
Price
  Value Fund

  
	
   

  	
   

  	
  Vanguard
Equity
  Income Fund – Admiral Class

  
	
   

  	
   

  	
  Vanguard
Windsor
  Fund – Admiral Class

  
	
   

  	
   

  	
  Vanguard
Windsor
  II Fund – Admiral Class

  

137

	
   

  	
   

  	
   

  
	
   

  	
  Large Cap Blend

  
	
   

  	
   

  	
  American
Century
  Equity Growth Fund Investor Class

  
	
   

  	
   

  	
  Domini
Social
  Equity Fund

  
	
   

  	
   

  	
  Dreyfus
  Appreciation Fund, Inc.

  
	
   

  	
   

  	
  Dreyfus
  Disciplined Stock Fund – Class R

  
	
   

  	
   

  	
  Fidelity
  Disciplined Equity Fund

  
	
   

  	
   

  	
  Fidelity
  Dividend Growth Fund

  
	
   

  	
   

  	
  Fidelity
Export
  and Multinational Fund

  
	
   

  	
   

  	
  Fidelity
Fiftysm

  
	
   

  	
   

  	
  Fidelity
Fund

  
	
   

  	
   

  	
  Fidelity
Trend
  Fund

  
	
   

  	
   

  	
  INVESCO Core
  Equity Income Fund – Investor Class

  
	
   

  	
   

  	
  Legg Mason
Value
  Trust, Inc. Institutional Class

  
	
   

  	
   

  	
  MSIF Trust
  Equity Portfolio Institutional Class

  
	
   

  	
   

  	
  Neuberger
Berman
  Socially Responsive Trust Class

  
	
   

  	
   

  	
  PIMCO
StocksPLUS
  Fund Institutional Class

  
	
   

  	
   

  	
  Putnam
Investors
  Fund Class A

  
	
   

  	
   

  	
  Vanguard
Growth
  and Income Fund – Admiral Class

  
	
   

  	
   

  	
  Vanguard
  PRIMECAP Fund – Admiral Class

  
	
   

  	
   

  	
   

  
	
   

  	
  Large Cap Growth

  
	
   

  	
   

  	
  AIM Blue
Chip
  Fund Class A

  
	
   

  	
   

  	
  AIM Large
Cap
  Growth Fund-Investor Class

  
	
   

  	
   

  	
  Alger
Capital Appreciation
  Institutional Portfolio – Institutional Class

  
	
   

  	
   

  	
  Columbia
Growth
  Fund – Class Z

  
	
   

  	
   

  	
  Credit
Suisse
  Capital Appreciation Fund – Common Shares

  
	
   

  	
   

  	
  Dreyfus
Founders
  Growth Fund – Class F

  
	
   

  	
   

  	
  Dreyfus
Premier
  Third Century Fund, Inc. Class Z

  
	
   

  	
   

  	
  Fidelity
Blue
  Chip Growth Fund

  
	
   

  	
   

  	
  Fidelity
Capital
  Appreciation Fund

  
	
   

  	
   

  	
  Fidelity
Focused
  Stock Fund

  
	
   

  	
   

  	
  Fidelity
Growth
  Company Fund

  

138

	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Fidelity
  Independence Fund

  
	
   

  	
   

  	
  Fidelity
Large
  Cap Stock Fund

  
	
   

  	
   

  	
  Fidelity OTC
  Portfolio

  
	
   

  	
   

  	
  Harbor
Capital
  Appreciation Fund

  
	
   

  	
   

  	
  Janus
Fund

  
	
   

  	
   

  	
  Janus
Growth and
  Income Fund

  
	
   

  	
   

  	
  Janus Twenty
  Fund

  
	
   

  	
   

  	
  Merrill
Lynch
  Fundamental Growth Fund, Inc. Class I

  
	
   

  	
   

  	
  Morgan
Stanley
  Institutional Fund, Inc. – 

  
	
   

  	
   

  	
  Equity
Growth
  Portfolio - Class A

  
	
   

  	
   

  	
  Pioneer Papp
  Strategic Growth Fund

  
	
   

  	
   

  	
  Scudder
Large
  Company Growth Fund – Class S

  
	
   

  	
   

  	
  Strong
Growth
  Fund – Investor Class

  
	
   

  	
   

  	
  Strong
Large Cap
  Growth Fund – Investor Class

  
	
   

  	
   

  	
  T. Rowe
Price
  Blue Chip Growth Fund

  
	
   

  	
   

  	
  T. Rowe
Price
  Growth Stock Fund

  
	
   

  	
   

  	
  USAA Growth
Fund

  
	
   

  	
   

  	
  Vanguard
U.S.
  Growth Fund – Admiral Class

  
	
   

  	
   

  	
   

  
	
  Medium Cap U.S. Stock Funds

  
	
   

  	
  Medium Cap Value

  
	
   

  	
   

  	
  American
Century
  Equity Income Fund Investor Class

  
	
   

  	
   

  	
  American
Century
  Value Fund Investor Class

  
	
   

  	
   

  	
  Fidelity
Value
  Fund

  
	
   

  	
   

  	
  Strong
Multi-Cap
  Value Fund – Investor Class

  
	
   

  	
   

  	
   

  
	
   

  	
  Medium Cap Blend

  
	
   

  	
   

  	
  Ariel
  Appreciation Fund

  
	
   

  	
   

  	
  Legg Mason
  Special Investment Trust, Inc. Primary Class

  
	
   

  	
   

  	
  Strong
  Opportunity Fund – Investor Class

  
	
   

  	
   

  	
   

  
	
   

  	
  Medium Cap Growth

  

139

	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Alger MidCap
  Growth Institutional Portfolio – Institutional Class

  
	
   

  	
   

  	
  Baron Asset
Fund

  
	
   

  	
   

  	
  Credit
Suisse
  Mid Cap Growth Fund

  
	
   

  	
   

  	
  Delaware
Trend
  Fund Institutional Class

  
	
   

  	
   

  	
  Fidelity
  Aggressive Growth Fund

  
	
   

  	
   

  	
  Fidelity
Mid-Cap
  Stock Fund

  
	
   

  	
   

  	
  Franklin
  Small-Mid Cap Growth Fund  – Class A

  
	
   

  	
   

  	
  INVESCO
Dynamics
  Fund – Investor Class

  
	
   

  	
   

  	
  MSIF Trust
Mid
  Cap Growth Institutional Class

  
	
   

  	
   

  	
  T. Rowe
Price
  Mid-Cap Growth Fund

  
	
   

  	
   

  	
   

  
	
  Small Cap U.S. Stock Funds

  
	
   

  	
  Small Cap Value

  
	
   

  	
   

  	
  Franklin
Balance
  Sheet Investment Fund Class A

  
	
   

  	
   

  	
  PIMCO NFJ
  Small-Cap Value Fund Institutional Class

  
	
   

  	
   

  	
  Strong
Advisor
  Small Cap Value Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  Small Cap Blend

  
	
   

  	
   

  	
  Credit
Suisse
  Small Cap Value Fund Common

  
	
   

  	
   

  	
  MSIF Trust
U.S.
  Small Cap Value Portfolio Institutional Class

  
	
   

  	
   

  	
  Neuberger
Berman
  Genesis Trust Class

  
	
   

  	
   

  	
  T. Rowe
Price
  Small-Cap Stock Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  Small Cap Growth

  
	
   

  	
   

  	
  Alger Small
Cap
  Institutional Portfolio

  
	
   

  	
   

  	
  Baron Growth
  Fund

  
	
   

  	
   

  	
  Columbia
Acorn
  Fund-Class Z

  
	
   

  	
   

  	
  Dreyfus
Founders
  Discovery Fund Class F

  
	
   

  	
   

  	
  Fidelity
Small
  Cap Independence

  
	
   

  	
   

  	
  INVESCO
Small
  Company Growth Fund – Investor Class

  
	
   

  	
   

  	
  Managers
Special
  Equity Fund

  
	
   

  	
   

  	
  Morgan
Stanley
  Institutional Fund, Inc. – 

  

140

	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Small
Company
  Growth Portfolio Class B

  
	
   

  	
   

  	
  PIMCO CCM
  Emerging Companies Institutional Class

  
	
   

  	
   

  	
   

  
	
  Specialty U.S. Stock Funds

  
	
   

  	
  Specialty-Health Care

  
	
   

  	
   

  	
  INVESCO
Health
  Sciences Fund – Investor Class

  
	
   

  	
   

  	
  T. Rowe
Price
  Health Sciences Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  Specialty-Natural Resources

  
	
   

  	
   

  	
  T. Rowe
Price
  New Era Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  Specialty-Real Estate

  
	
   

  	
   

  	
  Cohen &
  Steers Realty Shares

  
	
   

  	
   

  	
  Fidelity
Real
  Estate Investment Portfolio

  
	
   

  	
   

  	
   

  
	
   

  	
  Specialty Technology

  
	
   

  	
   

  	
  Munder
NetNet
  Class A

  
	
   

  	
   

  	
  PBGH
Technology
  & Communications Fund

  
	
   

  	
   

  	
  PIMCO PEA
  Innovation Fund Institutional Class

  
	
   

  	
   

  	
   

  
	
   

  	
  Specialty-Utilities

  
	
   

  	
   

  	
  Fidelity
  Utilities Fund

  
	
   

  	
   

  	
  INVESCO
  Utilities Fund – Investor Class

  
	
   

  	
   

  	
   

  
	
  International Stock Funds

  
	
   

  	
  Foreign Stock

  
	
   

  	
   

  	
  American
Century
  International Growth Fund Investor Class

  
	
   

  	
   

  	
  Credit
Suisse
  International Focus Fund – Common Shares

  
	
   

  	
   

  	
  Fidelity
  Aggressive International Fund

  
	
   

  	
   

  	
  Fidelity
  Diversified International Fund

  
	
   

  	
   

  	
  Fidelity
  Emerging Markets Fund

  
	
   

  	
   

  	
  Fidelity
Global
  Balanced Fund

  

141

	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Fidelity
International
  Growth & Income Fund

  
	
   

  	
   

  	
  Fidelity
  Overseas Fund

  
	
   

  	
   

  	
  GAM
  International Fund Class A

  
	
   

  	
   

  	
  J.P. Morgan
  Fleming International Value Fund, Institutional Class

  
	
   

  	
   

  	
  Lazard
Emerging
  Markets Portfolio Institutional Class

  
	
   

  	
   

  	
  Lazard
  International Equity Portfolio Institutional Class

  
	
   

  	
   

  	
  Managers
  International Equity Fund

  
	
   

  	
   

  	
  Putnam
  International Equity Fund Class A

  
	
   

  	
   

  	
  Scudder
  International Equity Fund – Investment Class

  
	
   

  	
   

  	
  Templeton
  Developing Markets Trust Class A

  
	
   

  	
   

  	
  Templeton
  Foreign Fund Class A

  
	
   

  	
   

  	
  Templeton
Institutional
  Funds, Inc. – Emerging Markets Series – Institutional Class

  
	
   

  	
   

  	
   

  
	
   

  	
  Europe Stock

  
	
   

  	
   

  	
  AIM European
  Growth Fund

  
	
   

  	
   

  	
  Fidelity
Europe
  Capital Appreciation Fund

  
	
   

  	
   

  	
  Fidelity
Europe
  Fund

  
	
   

  	
   

  	
  Merrill
Lynch
  EuroFund Class I

  
	
   

  	
   

  	
  Putnam
Europe
  Equity Fund Class A

  
	
   

  	
   

  	
  T. Rowe
Price
  European Stock Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  Latin America Stock

  
	
   

  	
   

  	
  Fidelity
Latin
  America Fund

  
	
   

  	
   

  	
  Scudder
Latin
  America Fund – Class S

  
	
   

  	
   

  	
  T. Rowe
Price
  Latin America Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  Diversified Pacific Asia Stock

  
	
   

  	
   

  	
  Fidelity
Pacific
  Basin Fund

  
	
   

  	
   

  	
  Fidelity
Southeast
  Asia Fund

  
	
   

  	
   

  	
  Merrill
Lynch
  Pacific Fund, Inc. Class I

  

142

	
 

	
 

	
 

	
 

	
Pacific/Asia Ex Japan Stock

	
 

	
 

	
AIM Asian Pacific Growth Fund – Class A

	
 

	
 

	
Scudder Pacific Opportunities Fund – Class S

	
 

	
 

	
 

	
 

	
Japan Stock

	
 

	
 

	
Fidelity Japan Fund

	
 

	
 

	
The Japan Fund, Inc. - Class S

	
 

	
 

	
 

	
 

	
World Stock

	
 

	
 

	
AIM Global Growth Fund Class A

	
 

	
 

	
American Funds Capital World Growth and Income Fund
  – Class A

	
 

	
 

	
American Funds New Perspective Fund – Class A

	
 

	
 

	
Dreyfus Premier Worldwide Growth Fund, Inc. Class R

	
 

	
 

	
Janus Worldwide Fund

	
 

	
 

	
Mutual Discovery Fund Class A

	
 

	
 

	
Putnam Global Equity Fund – Class A

	
 

	
 

	
Templeton Growth Fund, Inc. A

	
 

	
 

	
Templeton World Fund Class A

	
 

	
 

	
 

	
Hybrid Asset Allocation Funds

	
 

	
Fidelity Freedom Income® Fund

	
 

	
Fidelity Freedom 2000® Fund

	
 

	
Fidelity Freedom 2010® Fund

	
 

	
Fidelity Freedom 2020® Fund

	
 

	
Fidelity Freedom 2030® Fund”

          12.  Effective
January 1, 2005, by adding the
following new subsection (h) to the end of Section 16.3 in Supplement C as a
part thereof:

	
 

	
 

	
 

	
          “(h)          Effective
  January 1, 2005, Eligible Employees who are salaried employees of BP West
  Coast Products LLC who were eligible to participate in the Plan on December
  31, 2004, shall no longer be eligible to participate in the Plan and the
  account balances of 

143

	
 

	
 

	
 

	
such participants shall be transferred to the BP
  Partnership Savings Plan as soon as practicable on or after January 1, 2005.”

          13.  Effective
January 1, 2005, by adding the
following new Supplement F to the end of Appendix 16.3 of the Plan as a part
thereof:

“SUPPLEMENT F

	
 

	
 

	
 

	
          16.3
  (a)     Purpose.  The purpose of this Supplement F is to set forth the special
  provisions (not otherwise set forth in the Plan) which apply to the
  participants in the Amoco Fabrics and Fibers Hourly 401(k) Savings Plan (the
  ‘AFFC Hourly Savings Plan’) and the Amoco Fabrics and Fibers Salaried 401(k)
  Savings Plan (the ‘AFFC Salaried Savings Plan’) (collectively, the ‘AFFC
  Savings Plans’) immediately prior to January 1, 2005, and including Alternate
  Payees and eligible Beneficiaries of such persons (collectively, the ‘AFFC
  Savings Plan Participants’), notwithstanding any other provisions of the Plan
  to the contrary.

	
 

	
 

	
 

	
          (b)
  Accounts.  As of January 1,
  2005, each AFFC Savings Plan Participant will have allocated and posted to
  the Accounts under the Plan the amounts credited to such AFFC Savings Plan
  Participant’s accounts under the applicable AFFC Savings Plan, whichever is
  applicable, in accordance with the following Schedule:

	
 

	
 

	
 

	
 

	
 

	
 

	
AFFC Savings Plans

	
 

	
Plan Account

	
 

	
 

	

	
 

	

	
 

	
 

	
 

	
After-Tax Account

	
After-Tax Account

	
 

	
Before-Tax Account

	
Before-Tax Account

	
 

	
Match Account

	
Match Account

	
 

	
Rollover Account

	
Rollover Account

	
 

	
 

	
 

	
          (c)     Service.  For periods
prior to January 1, 2005, the
  determination of a Participant’s Service will be made pursuant to the records
  of the applicable AFFC Savings Plan immediately prior to January 1, 2005.

	
 

	
 

	
 

	
          (d)     Investment
  and Contribution Elections and Beneficiary Designation.  Notwithstanding anything contained herein
  to the contrary, any investment election, contribution election or
  beneficiary designation accepted by the Plans’Administrator and not otherwise
  revoked, under the applicable AFFC Savings Plan immediately before January 1,

144

	
 

	
 

	
 

	
2005, will continue in effect as a valid Investment
  Election, Contribution Election or Beneficiary designation

145

	
 

	
 

	
 

	
under the Plan until the earliest of: (1) the
  effective date of a new Investment Election, Contribution Election or
  Beneficiary designation; or (2) with respect to any Investment Election or
  Contribution Election, the date the individual ceases to be a Participant.

*   *   *   *   *

          I,
Jeffery S. Heller, Assistant General Counsel of the Corporation, and delegee of
the Senior Vice President, Human Resources, of the Corporation, hereby approve and
adopt the foregoing amendment to the Plan.

	
 

	
 

	
 

	
Dated this 30th day of December, 2004.

	
 

	
 

	
 

	

	
 

	
Assistant General Counsel

  BP Corporation North America Inc.

146

TENTH
AMENDMENT

OF

BP
EMPLOYEE SAVINGS PLAN

(As Amended and Restated Generally
Effective as of January 1, 2002)

          WHEREAS,
BP Corporation North America Inc. (the “Corporation”) maintains the BP Employee
Savings Plan (the “Plan”); 

          WHEREAS,
the Plan has previously been amended and further amendment of the Plan now is
considered desirable; 

          WHEREAS,
pursuant to the power delegated to a Designated Officer under Section 16.1 of
the Plan, the Senior Vice President, Human Resources, as a Designated Officer
of the Corporation, has the authority to amend the Plan; and

          WHEREAS,
in all other respects, the Plan, as amended, will continue in full force and
effect;

          NOW,
THEREFORE, the Senior Vice President, Human Resources, of the Corporation
hereby amends the Plan in the following particulars:

          1.  
Effective April 1, 2005, by adding the following new language to the end of the
second paragraph of the Introduction to the Plan as a part thereof:

	
 

	
 

	
 

	
          “(v)  the
merger of the BP Solvay Polyethylene
  North America Savings Plan (the “BP Solvay Plan”) into the Plan as of  April 1, 2005 (as more fully described in
  Appendix 16.3).”

          2.  
Effective April 1, 2005, by adding the following new sentences to the end of
the third paragraph of the Introduction to the Plan as a part thereof:

	
 

	
 

	
 

	
“The benefits, rights and features of an individual
  who participated in the BP Solvay Plan of which the liabilities and assets
  are transferred to the Plan before the close of business on April 1, 2005,
  but who does not have an account balance under the Plan at that time, will be
  determined under the applicable instruments in effect for the BP Solvay Plan,
  on the earlier of: (1) the day on which such individual’s account was reduced
  to zero; or (2) the day on which such individual’s employment terminated.  The terms of this Plan apply to any 

147

	
 

	
 

	
 

	
accounts created for such individual hereunder on or
  after April 1, 2005.”

          3.  
Effective April 1, 2005, by adding the following paragraph after the first
paragraph following Section 1.2(d) of the Plan as a part thereof:

	
 

	
 

	
 

	
“As of the merger of the BP Solvay Plan into this
  Plan, the accounts held under such plan have been allocated and posted to
  these Accounts in accordance with Appendix 16.3.”

          4.  
Effective January 1, 2005, by adding the following new subparagraphs (L) and
(M) to the end of Section 1.28(a)(3) of the Plan as a part thereof:

	
 

	
 

	
 

	
“(L) amounts deferred under the BP p.l.c. Deferred
  Annual Bonus Plan      2005; and

	
 

	
(M) amounts deferred under the BP p.l.c. Medium Term
  Performance Plan 2005.”

          5.  
Effective April 1, 2005, by adding the following new definition to the end of
Article I of the Plan as a part thereof:

	
 

	
 

	
 

	
     “1.91  ‘BP Solvay Plan’
means the BP
  Solvay Polyethylene North America Savings Plan as in effect on March 31, 2005.”

          6.  Effective as of
January 1, 2004, by adding
the following language to the end of Section 2.6(d) of the Plan as a part
thereof:

          “prior
to the employee’s transfer.”

          7.  Effective June
1, 2004, by substituting the
following for subparagraph (2) of Section 7.1(e) of the Plan:

	
 

	
 

	
 

	
“under the terms of a written voluntary or
  involuntary severance plan of general application duly adopted by the
  Company, regardless of whether a release, as required under such plan, is
  executed by the Participant, or”

          8.  Effective March
28, 2005, by adding the
following language to the end of Section 10.4 of the Plan as a part thereof:

148

	
 

	
 

	
 

	
“In the event of a mandatory distribution greater
  than $1,000 in accordance with the provisions of this Section 10.4, if the
  Participant does not elect to have such distribution paid directly to an
  eligible retirement plan specified by the Participant in a direct rollover or
  to receive the distribution directly in accordance with this Section 10.4,
  then the Plan Administrator will pay the distribution in a direct rollover to
  an individual retirement plan designated by the Plan Administrator.”

          9.  Effective April
1, 2005 by adding the
following name to the end of Appendix 1.43 of the Plan as a part thereof:

          “19.
O&L USA LLC”

          10.  Effective April
1, 2005, by adding the
following new Supplement G to the end of Appendix 16.3 of the Plan as a part
thereof:

“SUPPLEMENT G

	
 

	
 

	
 

	
          16.3
  (a)     Purpose.   The purpose of this Supplement G is to set forth the special
  provisions (not otherwise set forth in the Plan) which apply to the
  participants in the BP Solvay Polyethylene North America Savings Plan (the
  ‘BP Solvay Plan’) immediately prior to April 1, 2005, and including
  Alternative Payees and eligible Beneficiaries of such persons (collectively,
  the ‘BP Solvay Participants’), notwithstanding any other provisions of the
  Plan to the contrary.

	
 

	
 

	
 

	
          (b)     Accounts.  As of April 1,
2005, each BP Solvay Plan
  Participant will have allocated and posted to the Accounts under the Plan the
  amounts credited to such BP Solvay Plan Participant’s accounts under the BP
  Solvay Plan, whichever is applicable, in accordance with the following
  Schedule:

	
 

	
 

	
 

	
 

	
 

	
 

	
BP Solvay Plan Account

	
 

	
Plan Account 

	
 

	
 

	

	
 

	

	
 

	
 

	
Pre-Tax

	
 

	
Before Tax

	
 

	
Pre-Tax Unmatched

	
 

	
Before Tax Unmatched

	
 

	
Company Match

	
 

	
Prior Company Plan Contribution

	
 

	
Rollover

	
 

	
Rollover

	
 

	
Prior Pre-Tax

	
 

	
Before Tax Unmatched

	
 

	
Prior After-Tax

	
 

	
After-Tax Unmatched

	
 

	
Prior Pre-Tax II

	
 

	
Before Tax

	
 

	
Prior Company II

	
 

	
Prior Company Plan Contribution

	
 

	
 

	
 

	
          (c)     Service.  For periods
prior to April 1, 2005, the
  determination of a Participant’s Service will be made pursuant to the records
  of the BP Solvay Plan 

149

	
 

	
 

	
 

	
immediately prior to April 1, 2005.

	
 

	
 

	
 

	
          (d)     Investment
  and Contribution Elections and Beneficiary Designation.  Notwithstanding anything contained herein
  to the contrary, any investment election (as determined pursuant to the
  mapping strategy), contribution election or beneficiary designation accepted
  by the Plan Administrator and not otherwise revoked, under the BP Solvay Plan
  immediately before April 1, 2005, will continue in effect as a valid
  Investment Election, Contribution Election or Beneficiary designation under
  the Plan until the earliest of: (1) the effective date of a new
  Investment Election (as mapped to the Plan investment funds as described
  below), Contribution Election or Beneficiary designation; or (2) with
  respect to any Investment Election or Contribution Election, the date the
  individual ceases to be a Participant.

	
 

	
 

	
 

	
          (e)     Vesting.  Notwithstanding
anything contained herein
  to the contrary, an individual who becomes a Participant in the Plan on April
  1, 2005 and who was eligible to participate in the BP Solvay Plan on March
  31, 2005 will be fully vested under the Plan.”

*   *   *   *   *

          I,
Simon F. Drysdale, Senior Vice President, Human Resources of the Corporation,
hereby approve and adopt the foregoing amendment to the Plan.

	
 

	
 

	
 

	
Dated this 31st day of March, 2005

	
 

	
 

	
 

	

	
 

	
Senior Vice President, Human Resources

  BP Corporation North America Inc.

150

ELEVENTH
AMENDMENT

OF

BP
EMPLOYEE SAVINGS PLAN

(As Amended and Restated Generally
Effective as of January 1, 2002)

          WHEREAS,
BP Corporation North America Inc. (the “Corporation”) maintains the BP Employee
Savings Plan (the “Plan”); and

          WHEREAS,
the Plan has previously been amended and further amendment of the Plan now is
considered desirable; and

          WHEREAS,
pursuant to the power delegated to a Designated Officer under Section 16.1 of
the Plan, the Senior Vice President, Human Resources, as a Designated Officer
of the Corporation (or his delegee), has the authority to amend the Plan; and

          WHEREAS,
in all other respects, the Plan, as amended, will continue in full force and
effect.

          NOW,
THEREFORE, the Senior Vice President, Human Resources (or his delegee), of the
Corporation hereby amends the Plan effective July 1, 2005, by substituting the
following for Section 1.39(f) of the Plan:

	
   

  	
   

  
	
   

  	
  “(f) an at site Employee who is associated with
  Employer–operated (direct operations) retail locations, employees of the
  retail Customer Solutions Center hired, or transferring to such position from
  Eligible Employee status, after June 30, 2005, and a Compliance Specialist of
  the USCO.”

  

*     *     *     *     *

          I,
Jeffery S. Heller, Assistant General Counsel of the Corporation, and delegee of
the Senior Vice President, Human Resources, of the Corporation, hereby approve
and adopt the foregoing amendment to the Plan.

	
   

  	
   

  
	
   

  	
  Dated this 27th day of June, 2005

  
	
   

  	
   

  
	
   

  	
  

  
	
   

  	
  Assistant General Counsel

  
	
   

  	
  BP Corporation North America Inc.

  

151

TWELFTH
AMENDMENT

OF

BP
EMPLOYEE SAVINGS PLAN

(As Amended and Restated Generally
Effective as of January 1, 2002)

          WHEREAS,
BP Corporation North America Inc. (the “Corporation”) maintains the BP Employee
Savings Plan (the “Plan”); 

          WHEREAS,
the Plan has previously been amended and further amendment of the Plan now is
considered desirable; 

          WHEREAS,
pursuant to the power delegated to a Designated Officer under Section 16.1 of
the Plan, the President of the Corporation, or his delegate, as a Designated
Officer, has the authority to amend the Plan; and

          NOW,
THEREFORE, the President of the Corporation, or his delegate, hereby amends the
Plan, effective September 1, 2005, by adding the following new subsection (l)
to the end of Section 1.39 of the Plan as a part thereof:

	
   

  	
   

  
	
   

  	
          “(l)
  a salaried Employee of BP Products North America Inc., below level I,
  commencing employment after August 31, 2005, in support of U.S. Convenience
  Operations site payroll and benefits .”

  

*     *     *     *     *

          I,
Jeffrey S. Heller, Assistant General Counsel of the Corporation, acting with
the authority delegated by the President of the Corporation, hereby approve and
adopt the foregoing amendment to the Plan.

	
   

  	
   

  
	
   

  	
  Dated this 15th day of September, 2005.

  
	
   

  	
   

  
	
   

  	
  

  
	
   

  	
  Assistant General Counsel

  
	
   

  	
  BP Corporation North America Inc.

  

152

THIRTEENTH
AMENDMENT

OF

BP
EMPLOYEE SAVINGS PLAN

(As Amended and Restated Generally
Effective as of January 1, 2002)

          WHEREAS,
BP Corporation North America Inc. (the “Corporation”) maintains the BP Employee
Savings Plan (the “Plan”); 

          WHEREAS,
the Plan has previously been amended and further amendment of the Plan now is
considered desirable; 

          WHEREAS,
pursuant to the power delegated to a Designated Officer under Section 16.1 of
the Plan, the President of the Corporation, as a Designated Officer of the
Corporation, or his delegate, has the authority to amend the Plan; and

          WHEREAS,
in all other respects the Plan, as amended, will continue in full force and
effect. 

          NOW,
THEREFORE, the President of the Corporation, or his delegate, hereby amends the
Plan, in the following particulars:

          1.
 Effective January 3, 2006, by deleting the phrase “(a) a Participant may not direct investment of
future Contributions or loan repayments in, or direct transfer of any portion
of his Account balance into, the Income Fund” in Section 6.5 of the
Plan.

          2.
 Effective June 1, 2005, by adding the following new language to the end of
subparagraph (e)(1) of Section 7.1 of the Plan as a part thereof:

          “;
or as a result of the closing of, or the cessation of operations at, a
facility;”

153

          3.
Effective as of the renaming of Castrol North America Inc., by adding BP
Lubricants USA Inc. to the list of Adopting Commonly Controlled Entities in
Appendix 1.43 and effective as described below, by deleting the following names
from the list:

	
   

  	
   

  
	
   

  	
  “O&D USA LLC
  (subsequently known as Innovene USA LLC) as of December 12, 2005;

  
	
   

  	
  BP America
  Chemicals Company as of renaming;

  
	
   

  	
  Castrol North
  America Inc. as of the renaming;

  
	
   

  	
  Castrol Heavy
  Duty Lubricants as of the merger into BP Lubricants USA Inc.” 

  

          4.
Effective September 30, 2005, by substituting the following for Appendix 1.58
of the Plan:

“APPENDIX 1.58

TO

BP
EMPLOYEE SAVINGS PLAN

CORE
INVESTMENT OPTIONS

	
   

  	
   

  
	
  Short-Term

  
	
   

  
	
   

  	
  Short-Term
  Investments Fund

  
	
   

  	
   

  
	
  Bond

  
	
   

  
	
   

  	
  Bond Index Fund

  
	
   

  	
  Bond Index Fund - Long Duration

  
	
   

  	
  Bond Index Fund - Short Duration

  
	
   

  	
  Income Fund
  (frozen - closed to new investments; fund will be open to new investments as
  of January 3, 2006)

  
	
   

  	
   

  
	
  Hybrid

  
	
   

  
	
   

  	
  Balanced Index Fund – Aggressive

  
	
   

  	
  Balanced Index Fund – Conservative

  
	
   

  	
  Balanced Index Fund – Moderate

  
	
   

  	
   

  
	
  Large Cap

  

154

	
   

  	
   

  
	
   

  	
  Equity Index Fund

  
	
   

  	
  Equity Index Fund – Growth

  
	
   

  	
  Equity Index Fund – Value

  
	
   

  	
   

  
	
  Mid Cap

  
	
   

  
	
   

  	
  Mid-Cap Equity Index Fund

  
	
   

  	
   

  
	
  Small Cap

  
	
   

  
	
   

  	
  Small-Cap Equity Index Fund

  
	
   

  	
  Small-Cap Equity Index Fund – Growth

  
	
   

  	
  Small-Cap Equity Index Fund – Value

  
	
   

  	
   

  
	
  International

  
	
   

  
	
   

  	
  International Equity Index Fund

  
	
   

  	
  International Equity Index Fund – Europe

  
	
   

  	
  International Equity Index Fund – Pacific

  
	
   

  	
   

  
	
  Company Stock

  
	
   

  
	
   

  	
  BP Stock Fund

  

MUTUAL
FUND WINDOW INVESTMENT OPTIONS

	
   

  	
   

  	
   

  
	
  Short-Term

  
	
   

  
	
   

  	
  Fidelity Retirement Money Market Portfolio

  
	
   

  	
  U.S. Treasury Money Market Fund

  
	
   

  	
   

  
	
  Bond Funds

  
	
   

  
	
   

  	
  Long-Term Government

  
	
   

  	
   

  	
  PIMCO Long-Term
  U.S. Government Fund Institutional Class

  
	
   

  	
   

  	
   

  
	
   

  	
  Short-Term Bond

  
	
   

  	
   

  	
  Fidelity
  Institutional Short-Intermediate Government Fund

  

155

	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Harbor Short
  Duration Fund

  
	
   

  	
   

  	
  PIMCO Low
  Duration Fund Institutional Class

  
	
   

  	
   

  	
   

  
	
   

  	
  Intermediate-Term Bond

  
	
   

  	
   

  	
  AIM Income
  Fund-Investor Class

  
	
   

  	
   

  	
  Dodge & Cox
  Income Fund

  
	
   

  	
   

  	
  Dreyfus Premier
  Core Bond Fund – Class A

  
	
   

  	
   

  	
  Fidelity
  Government Income Fund

  
	
   

  	
   

  	
  Fidelity
  Investment Grade Bond Fund

  
	
   

  	
   

  	
  Harbor Bond Fund

  
	
   

  	
   

  	
  Janus Flexible
  Bond Fund

  
	
   

  	
   

  	
  MSIF Trust Core
  Plus Fixed Income Portfolio Institutional Class

  
	
   

  	
   

  	
  PIMCO Total
  Return Fund Institutional Class

  
	
   

  	
   

  	
  PIMCO Total
  Return Fund III Institutional Class

  
	
   

  	
   

  	
  T. Rowe Price
  Spectrum Income Fund

  
	
   

  	
   

  	
  T. Rowe Price
  U.S. Treasury Intermediate Bond Fund 

  
	
   

  	
   

  	
  USAA GNMA Trust 

  
	
   

  	
   

  	
  USAA Income Fund
  

  
	
   

  	
   

  	
  Wells Fargo
  Advantage Government Securities Fund- Investor Class

  
	
   

  	
   

  	
   

  
	
   

  	
  High Yield Bond

  
	
   

  	
   

  	
  AIM High Yield
  Fund-Investor Class

  
	
   

  	
   

  	
  Fidelity Capital
  & Income Fund

  
	
   

  	
   

  	
  Fidelity High
  Income Fund

  
	
   

  	
   

  	
  MSIF Trust High
  Yield Institutional Class

  
	
   

  	
   

  	
  PIMCO High Yield
  Fund Institutional Class

  
	
   

  	
   

  	
   

  
	
   

  	
  Convertible Bond

  
	
   

  	
   

  	
  Fidelity
  Convertible Securities Fund

  
	
   

  	
   

  	
  Calamos
  Convertible Fund – Class A (closed to new investments 4/30/03)

  

156

	
   

  	
   

  	
   

  
	
   

  	
  Emerging Markets Bond

  
	
   

  	
   

  	
  Fidelity New Markets Income Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  International Bond

  
	
   

  	
   

  	
  Payden & Rygel Global Fixed Income Fund – Class
  R

  
	
   

  	
   

  	
  PIMCO Foreign Bond Fund (U.S. Dollar-Hedged)
  Institutional Class

  
	
   

  	
   

  	
   

  
	
  Hybrid Funds

  
	
   

  
	
   

  	
  Domestic Hybrid

  
	
   

  	
   

  	
  Calvert Social
  Investment Fund Balanced Portfolio Class A

  
	
   

  	
   

  	
  Columbia
  Balanced Fund – Class Z

  
	
   

  	
   

  	
  Dreyfus Founders
  Balanced Fund Class F

  
	
   

  	
   

  	
  Dreyfus Premier
  Balanced Fund Class R

  
	
   

  	
   

  	
  Fidelity
  Balanced Fund

  
	
   

  	
   

  	
  Fidelity
Puritan®
  Fund

  
	
   

  	
   

  	
  Janus Balanced
  Fund

  
	
   

  	
   

  	
  MSIF Trust
  Balanced Portfolio Advisor Class

  
	
   

  	
   

  	
  Vanguard Asset
  Allocation Fund

  
	
   

  	
   

  	
  Vanguard
  Wellesley Income Fund – Admiral Class

  
	
   

  	
   

  	
  Vanguard
  Wellington Fund – Admiral Class

  
	
   

  	
   

  	
   

  
	
  Large Cap U.S. Stock Funds

  
	
   

  
	
   

  	
  Large Cap Value

  
	
   

  	
   

  	
  AIM Large Cap Basic Value Fund-Investor Class

  
	
   

  	
   

  	
  American Century Equity Income Fund Investor Class

  
	
   

  	
   

  	
  American Century Income & Growth Fund Investor
  Class

  
	
   

  	
   

  	
  American Century Value Fund Investor Class

  
	
   

  	
   

  	
  American Fundamental Investors Fund – Class A

  
	
   

  	
   

  	
  American Investment Company of America – Class A

  
	
   

  	
   

  	
  American Mutual Fund – Class A

  
	
   

  	
   

  	
  American Washington Mutual Investors Fund – Class A 

  
	
   

  	
   

  	
  Clipper Fund

  

157

	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Credit Suisse Large Cap Value Fund – Class A

  
	
   

  	
   

  	
  Dreyfus Premier
  Strategic Value Fund – Class A

  
	
   

  	
   

  	
  Fidelity Equity-Income
  Fund

  
	
   

  	
   

  	
  Fidelity Equity-Income
  II Fund

  
	
   

  	
   

  	
  T. Rowe Price Dividend
  Growth Fund

  
	
   

  	
   

  	
  T. Rowe Price Equity
  Income Fund, Inc.

  
	
   

  	
   

  	
  T. Rowe Price Value
  Fund

  
	
   

  	
   

  	
  Vanguard Equity Income
  Fund – Admiral Class

  
	
   

  	
   

  	
  Vanguard Windsor Fund –
  Admiral Class

  
	
   

  	
   

  	
  Vanguard Windsor II
  Fund – Admiral Class

  
	
   

  	
   

  	
   

  
	
   

  	
  Large Cap Blend

  
	
   

  	
   

  	
  American Century
  Equity Growth Fund Investor Class

  
	
   

  	
   

  	
  Domini Social
  Equity Fund

  
	
   

  	
   

  	
  Dreyfus
  Appreciation Fund, Inc.

  
	
   

  	
   

  	
  Dreyfus
  Disciplined Stock Fund – Class R

  
	
   

  	
   

  	
  Fidelity
  Disciplined Equity Fund

  
	
   

  	
   

  	
  Fidelity
  Dividend Growth Fund

  
	
   

  	
   

  	
  Fidelity Export
  and Multinational Fund

  
	
   

  	
   

  	
  Fidelity
Fiftysm

  
	
   

  	
   

  	
  Fidelity Fund

  
	
   

  	
   

  	
  Fidelity Trend
  Fund

  
	
   

  	
   

  	
  Legg Mason Value
  Trust, Inc. Institutional Class

  
	
   

  	
   

  	
  MSIF Trust
  Equity Portfolio Institutional Class

  
	
   

  	
   

  	
  Neuberger Berman
  Socially Responsive Trust Class

  
	
   

  	
   

  	
  PIMCO StocksPLUS
  Fund Institutional Class

  
	
   

  	
   

  	
  Putnam Investors
  Fund Class A

  
	
   

  	
   

  	
  Vanguard Growth
  and Income Fund – Admiral Class

  
	
   

  	
   

  	
  Vanguard
  PRIMECAP Fund – Admiral Class

  
	
   

  	
   

  	
   

  
	
   

  	
  Large Cap Growth

  
	
   

  	
   

  	
  AIM Blue Chip Fund Class A

  

158

	
   

  	
   

  	
   

  
	
   

  	
   

  	
  AIM Large Cap
  Growth Fund-Investor Class

  
	
   

  	
   

  	
  Alger Capital
  Appreciation Institutional Portfolio – Institutional Class

  
	
   

  	
   

  	
  Credit Suisse
  Capital Appreciation Fund – Common Shares

  
	
   

  	
   

  	
  Dreyfus Founders
  Growth Fund – Class F

  
	
   

  	
   

  	
  Dreyfus Premier
  Third Century Fund, Inc. Class Z

  
	
   

  	
   

  	
  Fidelity Blue
  Chip Growth Fund

  
	
   

  	
   

  	
  Fidelity Capital
  Appreciation Fund

  
	
   

  	
   

  	
  Fidelity Focused
  Stock Fund

  
	
   

  	
   

  	
  Fidelity Growth
  Company Fund

  
	
   

  	
   

  	
  Fidelity
  Independence Fund

  
	
   

  	
   

  	
  Fidelity Large
  Cap Stock Fund

  
	
   

  	
   

  	
  Fidelity OTC
  Portfolio

  
	
   

  	
   

  	
  Harbor Capital
  Appreciation Fund

  
	
   

  	
   

  	
  Janus Fund

  
	
   

  	
   

  	
  Janus Growth and
  Income Fund

  
	
   

  	
   

  	
  Janus Twenty
  Fund

  
	
   

  	
   

  	
  Merrill Lynch
  Fundamental Growth Fund, Inc. Class I

  
	
   

  	
   

  	
  Morgan Stanley
  Institutional Fund, Inc. –
        Equity Growth Portfolio - Class A

  
	
   

  	
   

  	
  Pioneer Growth
  Leader Fund Class A

  
	
   

  	
   

  	
  Scudder Large
  Company Growth Fund – Class S

  
	
   

  	
   

  	
  T. Rowe Price
  Blue Chip Growth Fund

  
	
   

  	
   

  	
  T. Rowe Price
  Growth Stock Fund

  
	
   

  	
   

  	
  USAA Growth Fund

  
	
   

  	
   

  	
  Vanguard U.S.
  Growth Fund – Admiral Class

  
	
   

  	
   

  	
  Wells Fargo
  Advantage Growth Fund – Investor Class

  
	
   

  	
   

  	
  Wells Fargo
  Advantage Large Cap Growth Fund – Investor Class

  
	
   

  	
   

  	
   

  
	
  Medium Cap U.S.
  Stock Funds

  
	
   

  	
  Medium Cap Value

  
	
   

  	
   

  	
  Fidelity Value
  Fund

  

159

	
   

  	
   

  	
   

  
	
   

  	
  Medium Cap Blend

  
	
   

  	
   

  	
  Ariel Appreciation Fund

  
	
   

  	
   

  	
  Legg Mason Special Investment Trust, Inc. Primary
  Class

  
	
   

  	
   

  	
  Wells Fargo Advantage Opportunity Fund 

  
	
   

  	
   

  	
   

  
	
   

  	
  Medium Cap Growth

  
	
   

  	
   

  	
  AIM Dynamics Fund – Investor Class

  
	
   

  	
   

  	
  Alger MidCap Growth Institutional Portfolio –
  Institutional Class 

  
	
   

  	
   

  	
  Baron Asset Fund

  
	
   

  	
   

  	
  Credit Suisse Mid Cap Growth Fund

  
	
   

  	
   

  	
  Delaware Trend Fund Institutional Class

  
	
   

  	
   

  	
  Fidelity Aggressive Growth Fund

  
	
   

  	
   

  	
  Fidelity Mid-Cap Stock Fund

  
	
   

  	
   

  	
  Franklin Small-Mid Cap Growth Fund  – Class A

  
	
   

  	
   

  	
  MSIF Trust Mid Cap Growth Institutional Class

  
	
   

  	
   

  	
  T. Rowe Price Mid-Cap Growth Fund

  
	
   

  	
   

  	
   

  
	
  Small Cap U.S. Stock Funds

  
	
   

  	
  Small Cap Value

  
	
   

  	
   

  	
  Allianz NFJ Small Cap Value - Institutional Class 

  
	
   

  	
   

  	
  Franklin Balance Sheet Investment Fund Class A

  
	
   

  	
   

  	
   

  
	
   

  	
  Small Cap Blend

  
	
   

  	
   

  	
  Credit Suisse Small Cap Value Fund Common

  
	
   

  	
   

  	
  MSIF Trust U.S. Small Cap Value Portfolio
  Institutional Class

  
	
   

  	
   

  	
  Neuberger Berman Genesis Fund Trust Class

  
	
   

  	
   

  	
  T. Rowe Price Small-Cap Stock Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  Small Cap Growth

  
	
   

  	
   

  	
  AIM Small Company Growth Fund – Investor Class 

  
	
   

  	
   

  	
  Alger Small Cap Institutional Portfolio 

  
	
   

  	
   

  	
  Allianz CCM Emerging Companies- Institutional Class

  

160

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Baron Growth Fund

  
	
   

  	
   

  	
  Columbia Acorn Fund-Class Z

  
	
   

  	
   

  	
  Dreyfus Founders Discovery Fund Class F

  
	
   

  	
   

  	
  Fidelity Small Cap Independence

  
	
   

  	
   

  	
  Managers Special Equity Fund

  
	
   

  	
   

  	
  Morgan Stanley Institutional Fund, Inc. – 

  
	
   

  	
   

  	
   

  	
  Small Company Growth Portfolio Class B

  
	
   

  	
   

  	
   

  	
   

  
	
  Specialty U.S. Stock Funds

  
	
   

  	
  Specialty-Health Care

  
	
   

  	
   

  	
  T. Rowe Price Health Sciences Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  Specialty-Natural Resources

  
	
   

  	
   

  	
  T. Rowe Price New Era Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  Specialty-Real Estate

  
	
   

  	
   

  	
  Cohen & Steers Realty Shares

  
	
   

  	
   

  	
  Fidelity Real Estate Investment Portfolio

  
	
   

  	
   

  	
   

  
	
   

  	
  Specialty Technology

  
	
   

  	
   

  	
  Munder Internet Fund Class A

  
	
   

  	
   

  	
  PBHG Technology & Communications Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  Specialty-Utilities

  
	
   

  	
   

  	
  AIM Utilities Fund-Investor Class 

  
	
   

  	
   

  	
  Fidelity Utilities Fund

  
	
   

  	
   

  	
   

  	
   

  
	
  International Stock Funds

  
	
   

  	
  Foreign Stock

  
	
   

  	
   

  	
  American Century International Growth Fund Investor
  Class

  
	
   

  	
   

  	
  Credit Suisse International Focus Fund – Common
  Shares

  

161

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Fidelity Aggressive International Fund

  
	
   

  	
   

  	
  Fidelity Diversified International Fund

  
	
   

  	
   

  	
  Fidelity Emerging Markets Fund

  
	
   

  	
   

  	
  Fidelity Global Balanced Fund

  
	
   

  	
   

  	
  Fidelity International Discovery Fund

  
	
   

  	
   

  	
  Fidelity Overseas Fund

  
	
   

  	
   

  	
  GAM International Equity Fund Class A

  
	
   

  	
   

  	
  J.P. Morgan International Value Fund, Institutional
  Class

  
	
   

  	
   

  	
  Lazard Emerging Markets Portfolio Institutional
  Class

  
	
   

  	
   

  	
  Lazard International Equity Portfolio Institutional
  Class

  
	
   

  	
   

  	
  Managers International Equity Fund

  
	
   

  	
   

  	
  Putnam International Equity Fund Class A

  
	
   

  	
   

  	
  Scudder International Equity Fund – Investment Class

  
	
   

  	
   

  	
  Templeton Developing Markets Trust Class A

  
	
   

  	
   

  	
  Templeton Foreign Fund Class A

  
	
   

  	
   

  	
  Templeton Institutional Funds, Inc. – Emerging
  Markets Series –

  
	
   

  	
   

  	
   

  	
  Institutional Class

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Europe Stock

  
	
   

  	
   

  	
  AIM European Growth Fund

  
	
   

  	
   

  	
  Fidelity Europe Capital Appreciation Fund

  
	
   

  	
   

  	
  Fidelity Europe Fund

  
	
   

  	
   

  	
  Merrill Lynch EuroFund Class I

  
	
   

  	
   

  	
  Putnam Europe Equity Fund Class A

  
	
   

  	
   

  	
  T. Rowe Price European Stock Fund

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Latin America Stock

  
	
   

  	
   

  	
  Fidelity Latin America Fund

  
	
   

  	
   

  	
  Scudder Latin America Fund – Class S

  
	
   

  	
   

  	
  T. Rowe Price Latin America Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  Diversified Pacific Asia Stock

  

162

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  AIM Asian Pacific Growth Fund – Class A

  
	
   

  	
   

  	
  Fidelity Pacific Basin Fund 

  
	
   

  	
   

  	
  Fidelity Southeast Asia Fund

  
	
   

  	
   

  	
  Merrill Lynch Pacific Fund, Inc. Class I

  
	
   

  	
   

  	
  Scudder Pacific Opportunities Fund – Class S

  
	
   

  	
   

  	
   

  
	
   

  	
  Japan Stock

  
	
   

  	
   

  	
  Fidelity Japan Fund

  
	
   

  	
   

  	
  The Japan Fund, Inc. - Class S

  
	
   

  	
   

  	
   

  
	
   

  	
  World Stock

  
	
   

  	
   

  	
  AIM Global Growth Fund Class A

  
	
   

  	
   

  	
  American Funds Capital World Growth and Income Fund
  – Class A

  
	
   

  	
   

  	
  American Funds New Perspective Fund – Class A

  
	
   

  	
   

  	
  Dreyfus Premier Worldwide Growth Fund, Inc. Class R

  
	
   

  	
   

  	
  Janus Worldwide Fund

  
	
   

  	
   

  	
  Mutual Discovery Fund Class A

  
	
   

  	
   

  	
  Putnam Global Equity Fund – Class A

  
	
   

  	
   

  	
  Templeton Growth Fund, Inc. A

  
	
   

  	
   

  	
  Templeton World Fund Class A

  
	
   

  	
   

  	
   

  
	
  Hybrid Asset Allocation Funds

  
	
   

  	
  Fidelity Freedom Income® Fund

  
	
   

  	
  Fidelity Freedom 2000® Fund

  
	
   

  	
  Fidelity Freedom 2010® Fund

  
	
   

  	
  Fidelity Freedom 2020® Fund

  
	
   

  	
  Fidelity Freedom 2030® Fund”

  

          5.     Effective
January 3, 2006, by deleting the phrase “(frozen – closed to new investments)” after the phrase “Income Fund”
in the fifth investment option listed in Appendix 1.58 of the Plan.

163

*     *     *     *     *

          I,
Jeffery S. Heller, Assistant General Counsel of the Corporation, and delegate
of the President of the Corporation, hereby approve and adopt the foregoing
amendment to the Plan.

	
   

  	
   

  
	
   

  	
  Dated this 29th day of December, 2005.

  
	
   

  	
   

  
	
   

  	
  

  
	
   

  	
  Assistant General Counsel

  
	
   

  	
  BP Corporation North America Inc.

  

164

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