Document:

Ball Corporation 2005 Deferred Compensation Plan

    Exhibit
      10.1

     

    Ball
      Corporation

    2005
      Deferred Compensation 

    Plan

    

    Effective
      January 1, 2005

    

    
      
        
          

        

         

      

      
         

        
          

        

      

      
         

        
          

        

      

    

    
 

    Ball
      Corporation 2005 Deferred Compensation Plan

     

    Article
      I 

    Establishment
      and Purpose 

    

    Article
      II

    Definitions 

    

    Article
      III

    Eligibility
      and Participation 

    

    Article
      IV

    Deferral
      Elections 

    

    Article
      V

    Company
      Awards 

    

    Article
      VI

    Valuation
      of Accounts; Deemed Investments 

    

    Article
      VII

    Distribution
      and Withdrawals 

    

    Article
      VIII

    Administration 

    

    Article
      IX

    Amendment
      and Termination 

    

    Article
      X

    Informal
      Funding 

    

    Article
      XI

    Claims 

    

    Article
      XII

    General
      Conditions 

    

    

    
      
        
          

        

         

      

      
         

        
          

        

      

      
         

        
          

        

      

    

    Article
      I

    Establishment
      and Purpose

    

    

    Ball
      Corporation (the “Company”) has maintained and will continue to maintain the
      Ball Corporation 2001 Deferred Compensation Plan, the Ball Corporation 2000
      Deferred Compensation Company Stock Plan, and the Ball Corporation 2002 Deferred
      Compensation Plan for Directors (the “Grandfathered Plans”). 

    

    Effective
      January 1, 2005 the Company hereby adopts the Ball Corporation 2005 Deferred
      Compensation Plan (the “2005 Plan” or the “Plan”). The purpose of the Plan is to
      continue to provide Participants with an opportunity to defer receipt of a
      portion of their salary, bonus and other specified cash compensation in
      compliance with Internal Revenue Code Section 409A. 

    

    In
      addition, proposed Treasury regulations published on October 4, 2005, require
      the Company to adopt written amendments prior to December 31, 2005 with respect
      to items of transition relief described in Notice 2005-1 that expire on December
      31, 2005. This Plan document is intended to satisfy the amendment requirements
      of the proposed regulations without the amendment constituting a “material
      modification” to the Grandfathered Plans. The Company expects to review and
      restate the Plan in 2006 in accordance with the extended transition relief
      deadlines set forth in the proposed regulations.

    

    The
      Plan
      is not intended to meet the qualification requirements of Code Section 401(a),
      but is intended to meet the requirements Code Section 409A, and to be an
      unfunded arrangement providing deferred compensation to eligible employees
      who
      are part of a select group of management or highly compensated employees of
      the
      Company, its subsidiaries and affiliates, within the meaning of Sections 201,
      301 and 401 of ERISA. The Plan is intended to be exempt from the requirements
      of
      Parts 2, 3 and 4 of Title I of ERISA as a "top hat" plan, and to be eligible
      for
      the alternative method of compliance for reporting and disclosure available
      for
      unfunded "top hat" plans.

    

    Article
      II

    Definitions

    

    
      	
              2.1

            	
              Account.
                Account means a bookkeeping account maintained by the Plan Administrator
                to record deferrals allocated to it by the Participant, the Company
                in the
                form of Company Awards (if any), returns on Deemed Investments, payments,
                and such other transactions, if any, that may be required to properly
                administer the Plan. Without limiting the Plan Administrator’s authority
                to establish Accounts as it deems necessary, Accounts may include,
                for
                each Participant, (a) Separation Accounts (b) Specified Date Accounts
                and/or (c) any Deferred Disability Account. Such Accounts shall be
                used to
                determine the amount of benefits payable to a Participant or Beneficiary
                in accordance with the form of payment and timing requirements specified
                in the Participant’s Compensation Deferral Agreements and subject to the
                terms of the Plan. The Account shall not constitute or be treated
                as an
                escrow, trust fund, or any other type of funded account for Code
                or ERISA
                purposes and amounts credited thereto shall not be considered “plan
                assets” for federal income tax or ERISA purposes. Accounts under this Plan
                shall reflect only those amounts considered to be Deferrals as defined
                in
                this Plan. 

            

    

    
      
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    The
      provisions of this Plan shall apply only to such Accounts and shall not apply
      to
      any Grandfathered Plan accounts.

    

    
      	
              2.2

            	
              Account
                Balance.
                Account Balance means, with respect to any Account, the value on
                each
                Business Day of such Account. The Account Balance is determined as
                of the
                Payment Date (or Business Day next preceding the Payment Date if
                not on a
                Business Day) for the purpose of paying any benefit under the provisions
                of Article VII.

            

    

    

    
      	
              2.3

            	
              Allocation
                Election.
                Allocation Election means a choice by a Participant of one or more
                Investment Options, and the allocation among them, in which future
                Participant deferrals and/or existing Account Balances are Deemed
                Invested
                for purposes of determining earnings in a particular
                Account.

            

    

    

    
      	
              2.4

            	
              Beneficiary.
                Beneficiary means a person, estate, or trust designated by a Participant
                to receive benefits to which such Beneficiary is entitled in accordance
                with provisions of the Plan. The Participant’s spouse, if living,
                otherwise the Participant’s estate, shall be the Beneficiary
                if

            

    

    

    
      	 	
              a.

            	
              the
                Participant has not designated a person or trust as Beneficiary,
                or

            

    

    
      	 	
              b.

            	
              the
                designated Beneficiary(ies) has/have all predeceased the
                Participant.

            

    

    

    
      	
              2.5

            	
              Business
                Day.
                A
                Business Day is each day on which the New York Stock Exchange is
                open for
                business.

            

    

    

    
      	
              2.6

            	
              Change
                in Control.
                Change of Control shall have the meaning given to a “change in control” or
                similar term as defined in the trust established under Section 10.2.
                If
                such trust does not define “change in control” or a similar term, Change
                in Control shall have the same definition as the definition under
                Section
                409A of the Code.

            

    

    

    
      	
              2.7

            	
              Code.
                Code means the Internal Revenue Code of 1986, as amended from time
                to
                time, the Treasury Department regulations issued thereunder, and
                applicable Notices, Revenue Rulings and similar guidance issued by
                the
                Internal Revenue Service.

            

    

    

    
      	
              2.8

            	
              Committee.
                Committee means the Deferred Compensation Committee of the Company.
                

            

    

    

    
      
        	
                2.9

              	
                Company.
                  Company means Ball Corporation, its subsidiares and its
                  successors.

              

      

       

    

    
      	
              2.10

            	
              Company
                Award.
                Company Award means a credit by the Company to a Separation or Specified
                Date Account as specified by the Company in accordance with the provisions
                of Article V of the Plan. Company Awards are made or not made in
                the sole
                discretion of the Company and the fact that a Company Award is made
                in one
                year shall not obligate the Company to continue to make such Company
                Award
                in subsequent years.

            

    

    

    
      	
              2.11

            	
              Compensation.
                Compensation means, for purposes of this Plan, annual incentive awards
                and
                long-term incentive compensation. Compensation may also include,
                without
                limitation, base salary (including any deferred salary under a Code
                Section 401(k) or 125 plan) and such other cash or equity-based
                compensation (if any) that is determined by the Plan Administrator,
                in its
                sole discretion, as eligible for deferral under the terms of this
                Plan.
                

            

    

    
      
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              2.12

            	
              Compensation
                Deferral Agreement.
                Compensation Deferral Agreement means an agreement submitted to the
                Plan
                Administrator in which a Participant (a) makes an election to defer
                Compensation in accordance with Article IV, (b) makes an Allocation
                Election with respect to his or her Accounts, (c) specifies the Accounts
                that will be credited with deferrals under the Agreement, (d) specifies
                the Payment Dates for each such Account and (e) specifies a Payment
                Schedule with respect to payments from each such Account. A Compensation
                Deferral Agreement is effective (and irrevocable, subject to the
                provisions of the Plan) with respect to a service period or Company
                Contribution as of the first day following the election period specified
                in Article IV or as provided under Treasury Department regulations.
                A
                Compensation Deferral Agreement remains in effect until modified
                in
                accordance with the Plan. 

            

    

    

    Notwithstanding
      the foregoing, and subject to the provisions of Section 3.3, the Plan
      Administrator may modify a Participant’s Compensation Deferral Agreement at any
      time to conform the Compensation Deferral Agreement and the Plan to applicable
      law. The Compensation Deferral Agreement will consist of an agreement prepared
      under the authority of the Plan Administrator which may be modified from time
      to
      time, consistent with the material terms of the Plan and the Plan
      Administrator’s authority as delegated by the HR Committee of the Board of
      Directors of the Company. A completed Compensation Deferral Agreement, and
      any
      modifications thereto authorized under the Plan, may be submitted to the Plan
      Administrator in paper or electronic form, under procedures prescribed by the
      Plan Administrator.

    

    
      	
              2.13

            	
              Death
                Distribution.
                Death Distribution shall mean the payment of the Participant’s Account
                Balances, to the Participant's Beneficiary(ies) in accordance with
                Article
                VII of the Plan.

            

    

    

    
      	
              2.14

            	
              Deemed
                Investment.
                A
                Deemed Investment means the conversion of a dollar amount of deferred
                Compensation and Company Awards (if any) credited to a Participant’s
                Deferred Compensation Account into notional shares or units of ownership
                (or a fraction of such measures of ownership, if applicable) of a
                security
                (e.g. mutual fund, company stock, or other investment) which is referred
                to by the Investment Option(s) selected by the Participant. The conversion
                shall occur as if shares (or units) of the designated investment
                were
                being purchased (or sold, in the case of a distribution) at the purchase
                price as of the close of business of the day on which the Deemed
                Investment occurs. At no time shall a Participant have any real or
                beneficial ownership in the actual security to which the Investment
                Option
                refers, irrespective of whether such a Deemed Investment is mirrored
                by an
                actual identical investment by the Company or a trustee acting on
                behalf
                of the Company. 

            

    

    

    
      	
              2.15

            	
              Deferral.
                Deferral means a deferral of Compensation that is subject to the
                deferral
                election and payment requirements of Code Section
                409A.

            

    

    

    
      	
              2.16

            	
              Deferred
                Compensation Account.
                Deferred Compensation Account means the Account maintained by the
                Plan
                Administrator that records the total amount of liability of the Company
                to
                a Participant at any point in time, and includes all unpaid Account
                Balances.

            

    

    
      
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              2.17

            	
              Deferred
                Disability Account.
                Deferred Disability Account means the Account established to record
                the
                Deferred Disability Contribution specified in Section 5.3 and to
                pay the
                Deferred Disability Benefit under Section
                7.5.

            

    

    

    
      	
              2.18

            	
              Disability.
                Disability means disability under the Company’s long-term disability
                programs for Eligible Employees.

            

    

    

    
      	
              2.19

            	
              Effective
                Date.
                Effective Date means January 1, 2005 with respect to Deferrals occurring
                on or after such date.

            

    

    

    
      	
              2.20

            	
              Eligible
                Employee.
                Eligible Employee means an Employee of the Company or its subsidiaries
                who
                is part of a select group of management or highly compensated employees
                of
                the Company (which also includes for this purpose its subsidiaries
                and
                affiliated companies) within the meaning of Sections 201(2), 301(a)(3)
                and
                401(a)(1) of ERISA, and who is selected by the Plan Administrator
                to
                participate in the Plan. 

            

    

    

    
      	
              2.21

            	
              Employee.
                Employee means a common law employee of the Company or its
                subsidiaries.

            

    

    

    
      	
              2.22

            	
              ERISA.
                ERISA means the Employee Retirement Income Security Act of 1974,
                as
                amended from time to time.

            

    

    

    
      	
              2.23

            	
              Investment
                Option.
                Investment Option means a notional investment approved by the Plan
                Administrator for use as part of an Investment Option menu, which
                a
                Participant may elect as a measuring device to determine Deemed Investment
                earnings (positive or negative) to be valued in the Participant's
                Account(s). The Participant has no legal or beneficial ownership
                in the
                security or other investment represented by the Investment
                Option.

            

    

    

    
      	
              2.24

            	
              Participant.
                Participant means an Eligible Employee employed by the Company or
                its
                subsidiaries who: (a) has elected to defer Compensation in accordance
                with
                the Plan; (b) has received a Company Award; or (c) has a Deferred
                Compensation Account Balance greater than zero regardless of whether
                the
                Participant is still employed by the Company or its subsidiaries.
                A
                Participant’s continued participation in the Plan shall be governed by
                Section 3.2 of the Plan.

            

    

    

    
      	
              2.25

            	
              Payment
                Date.
                Payment Date means the date on which payments from an Account are
                scheduled to commence. 

            

    

    

    a. 
Separation
      Accounts.
      A
      Participant may elect in a Compensation Deferral Agreement that establishes
      a
      Separation Account the number of years following Separation from Service when
      payment will be made from the Account (e.g., “Third year following Separation
      from Service”). The Payment Date is January 1 of such year. If no Payment Date
      is designated, the Payment Date is January 1 of the year following the year
      in
      which the Participant has a Separation from Service.

    

    b. 
Specified
      Date Accounts. The
      Payment Date for a Specified Date Account is January 1 of the year specified
      for
      such Account.

    
      
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    c. 
Separation
      Prior to Age 55. In
      the
      event a Participant Separates from Service prior to attaining age 55, the
      Payment Date for all Accounts is January 1 of the year following the year in
      which the Separation from Service occurred.

    

    d. 
Death.
      In
      the
      event of the Participant’s death, the Payment Date for payments to Beneficiaries
      is January 1 of the year following the year in which the Participant
      died.

    

    e. 
Deferred
      Disability Benefit. A
      Participant entitled to a Deferred Disability Benefit will receive payment
      commencing January 1 of the year following the year in which the Participant
      attains age 65.

    

    f. 
Administration.
      Pursuant
      to Code Section 409A, payment will be treated as made upon the applicable
      Payment Date if the payment is made by the later of the first date it is
      administratively feasible to do so after such Payment Date or the end of the
      calendar year containing such Payment Date. The Plan Administrator shall adopt
      such administrative procedures as are necessary to reasonably ensure that
      payments scheduled for January 1 of a given year will be made after January
      1 of
      such year and before February 15 of such year.

    

    In
      addition, to facilitate administration of the Plan, all Participants shall
      be
      treated as “specified employees” as defined in Code Section 409A. Accordingly,
if
      a
      Payment Date occurs in the year following a Separation from Service, payment
      will be made as follows:

    

    
      	 	
              1.

            	
              If
                Separation from Service occurs prior to July 1, actual payment will
                be
                made no earlier than January 1 of the year next following the year
                in
                which the Separation from Service occurred, and, except where required
                for
                administrative necessity, no later than February 15 of such
                year.

            

    

    

    
      	 	
              2.

            	
              If
                Separation from Service occurs on or after July 1 and before December
                31,
                actual payment will be made no earlier than July 1 of the year next
                following the year in which the Separation from Service occurred,
                and,
                except where required for administrative necessity, no later than
                August
                15 of such year.

            

    

    

    
      	
              2.26

            	
              Payment
                Schedule.
                Payment Schedule means the form in which payments will be made from
                the
                Account established under the Plan. The Payment Schedule for an Account
                will be a single lump sum unless the Participant elects an alternative
                Payment Schedule at the time(s) and in the manner specified in this
                Plan.

            

    

    

    A
      Participant may elect to receive a Separation Account or Specified Date Account
      (a) in a lump sum from 0% to 100% of the Account Balance, and (b) the balance,
      if any, in annual installments from two (2) to fifteen (15) years. If the lump
      sum is less than 100%, then (i) the lump sum and (ii) the series of annual
      installments will each be treated as separate Payment Schedules for purposes
      of
      the payment modification provisions of Section 4.6c.

    

    All
      Accounts will be paid to a Participant who Separates from Service prior to
      attaining age 55 in a single lump sum, regardless of any other Payment Schedule
      that may be in effect for the Accounts.

    
      
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    A
      Death
      Distribution will be paid from each Account pursuant to the Payment Schedule
      in
      effect for each such Account.

    

    A
      Deferred Disability Benefit will be paid in a single lump sum.

    

    Notwithstanding
      any Payment Schedule elected by a Participant, distributions shall not be made
      in such a manner as to cause the acceleration of a payment in violation of
      Code
      Section 409A. The Plan Administrator retains the authority to determine when
      and
      to what extent a payment option, unless modified, would result in acceleration
      of a payment and to make corresponding adjustments to the Participant’s Payment
      Schedule to avoid an impermissible acceleration.

    

    
      	
              2.27

            	
              Performance-Based
                Compensation.
                Performance-Based Compensation means Compensation based on services
                performed over a period of not less than twelve months and which
                meets the
                following requirements: (a) the payment of the Compensation or the
                amount
                of the Compensation is contingent upon the satisfaction of organizational
                or individual performance criteria that are established within the
                first
                90 days of the performance period, and (b) the performance criteria
                are
                not substantially certain to be met at the time a Compensation Deferral
                Agreement is submitted to the Plan Administrator. Performance criteria
                may
                be subjective but must relate to the performance of the Participant,
                a
                group of Employees that includes the Participant or a business unit
                (which
                may include the Company) for which the Participant provides services.
                The
                determination that any subjective performance criteria have been
                met shall
                not be made by the Participant or by a family member of the Participant.
                Performance-Based Compensation does not include any amount or portion
                of
                any amount that will be paid regardless of performance or which is
                based
                on a level of performance that is substantially certain to be met
                at the
                time the criteria is established. The definition of Performance-Based
                Compensation shall at all times be applied consistently with the
                provisions of Code Section 409A, which are incorporated by
                reference.

            

    

    

    
      	
              2.28

            	
              Plan.
                Plan means the Ball Corporation Deferred Compensation Plan as documented
                herein and as may be amended from time to time
                hereafter.

            

    

    

    
      	
              2.29

            	
              Plan
                Administrator.
                Plan Administrator means the Deferred Compensation Committee of the
                Company. 

            

    

    

    
      	
              2.30

            	
              Separation
                from Service.
                Separation from Service or Separates from Service shall mean a
                Participant’s termination of employment with the Company or its
                subsidiaries for any reason. The foregoing not withstanding, if a
                Participant transfers to the employ of the Company or any other entity
                that is within the controlled group of entities described in Section
                414(b),(c),(m) or (o) of the Code that includes the Company, no Separation
                from Service shall be deemed to have occurred for purposes of this
                Plan.
                Whether a Separation from Service has occurred will be subject to
                Treasury
                Department regulations promulgated under Code Section
                409A.

            

    

    

    
      	
              2.31

            	
              Separation
                Account.
                A
                Separation Account is an Account established to record amounts subject
                to
                payment upon Separation from Service as described in Section
                4.6a.

            

    

    
      
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              2.32

            	
              Specified
                Date Account.
                A
                Specified Date Account is an Account established to record amounts
                subject
                to specified Payment Dates as described in Section
                4.6b.

            

    

    

    
      	
              2.33

            	
              Target
                Total Annual Compensation.
                Target Total Annual Compensation means, with respect to a Participant,
                the
                total of the Participant’s annual salary for the calendar year, plus the
                target annual incentive award established pursuant to the Ball Corporation
                Economic Value Added Incentive Compensation Plan, or any successor
                plan.

            

    

    

    
      	
              2.34

            	
              Unforeseeable
                Emergency.
                An unforeseeable emergency is a severe financial hardship to the
                Participant resulting from a sudden and unexpected illness or accident
                of
                the Participant or of a dependent (as defined in Code Section 152(a))
                of
                the Participant, loss of the Participant's property due to casualty,
                or
                other similar extraordinary and unforeseeable circumstances arising
                as a
                result of events beyond the control of the Participant, as defined
                in
                Prop. Treas. Reg. 1.409A-3(g)(3). The Plan Administrator, in its
                sole
                discretion and subject to the requirements of Code Section 409A,
                shall
                determine whether a Participant has experienced an Unforeseeable
                Emergency. Imminent foreclosure or eviction from the Participant’s or
                Beneficiary’s primary residence, the need to pay medical expenses, and
                funeral expenses of a spouse or dependent may constitute an Unforeseeable
                Emergency. The purchase of a home and the payment of college tuition
                are
                not Unforeseeable Emergencies.

            

    

    

    Article
      III

    Eligibility
      and Participation

    

    

    
      	
              3.1

            	
              Eligibility
                and Participation.
                Each Eligible Employee shall be eligible to participate in this Plan.
                An
                Eligible Employee becomes a Participant upon submission of a Compensation
                Deferral Agreement to the Plan
                Administrator.

            

    

    

    
      	
              3.2

            	
              Duration.
                A
                Participant shall be eligible to defer Compensation and receive
                allocations of Company Awards subject to the terms of the Plan as
                long as
                such Participant is an Eligible
                Employee.

            

    

     

           
A
      Participant who is an Eligible Employee at the time he or she is placed on
      a
      disability leave of absence in accordance with the Company’s policies and
      procedures shall continue to be a Participant eligible to receive Company Awards
      under Section 5.3 during such leave of absence.

    

           
A
      Participant who is no longer an Eligible Employee but continues to be employed
      by the Company may not defer Compensation but may otherwise exercise all of
      the
      rights of a Participant under the Plan with respect to his or her Deferred
      Compensation Account. On and after a Separation from Service, a Participant
      shall remain a Participant as long as his or her Compensation Deferral Account
      is greater than zero and during such time may continue to make Allocation
      Elections. An individual shall cease participation in the Plan when all benefits
      under the Plan to which he or she is entitled have been paid.

    

    
      
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              3.3

            	
              Revocation
                of Future Participation.
                Notwithstanding the provisions of Section 3.2, the Committee may,
                in its
                discretion, revoke such Participant’s eligibility to make future deferrals
                under this Plan. Such revocation will not affect in any manner a
                Participant’s Deferred Compensation Account or other terms of this
                Plan.

            

    

    

    
      	
              3.4

            	
              Notification.
                Each newly Eligible Employee shall be notified by the Plan Administrator,
                in writing, of the date of his or her initial eligibility to participate
                in this Plan.

            

    

    

    Article
      IV

    Deferral
      Elections

    

    

    
      	
              4.1

            	
              Deferral
                Elections.
                A
                Participant shall make Deferral elections by completing and submitting
                to
                the Plan Administrator the Compensation Deferral Agreement which
                shall
                specify the amount of the Deferral, Account designation for the Deferral
                (Specified Date Account or Separation Account), Allocation Election,
                Payment Date and Payment Schedule, as described in this Article IV.
                A
                Participant may establish up to six Accounts which may be designated
                as
                Separation Accounts or Specified Date
                Accounts.

            

    

    

    
      	
              4.2

            	
              Time
                of Election.

            

    

    

    
      	 	
              a.

            	
              Initial
                Eligibility.
                In the case of the calendar year in which an Employee first becomes
                an
                Eligible Employee, a Compensation Deferral Agreement that defers
                Compensation with respect to services to be performed in such calendar
                year and subsequent to the election may be submitted to the Plan
                Administrator within 30 days after such Eligible Employee becomes
                eligible
                to participate in the Plan.

            

    

    

    Eligible
      Employees who became Employees after January 1 of the calendar year may defer
      an
      annual incentive award for such calendar year. The election will be deemed
      to
      apply to services after the election if the maximum deferral is no greater
      than
      the portion
      of the Compensation equal to the total amount of the Compensation for the
      service period multiplied by the ratio of the number of days remaining in the
      performance period after the election over the total number of days in the
      performance period.

    

    Notwithstanding
      the foregoing, an Employee who was performing services for the Company as of
      January 1 and who became and Eligible Employee prior to June 1 may elect to
      defer an annual incentive award that qualifies as Performance-Based
      Compensation, in accordance with the requirements of paragraph c., below.
      Subject to Code Section 409A, such Eligible Employee may defer the maximum
      bonus
      permitted by the Plan Administrator for all Participants in such
      year.

    

    If
      an
      Eligible Employee does not submit a Compensation Deferral Agreement within
      the
      first 30 days of his or her eligibility to participate in the Plan, such
      Eligible Employee may submit a Compensation Deferral Agreement at such other
      times as are specified in this Plan. Such Compensation Deferral Agreement shall
      constitute the initial deferral election with respect to the Payment Schedule
      applicable to the Participant’s Separation and/or Specified Date Accounts
      established under such Compensation Deferral Agreement.

    
      
        8

         

      

      
         

        
          

        

      

      
         

      

    

    
      	 	
              b.

            	
              Subsequent
                Years.
                For any subsequent year, the Compensation Deferral Agreement containing
                the election to defer Compensation (other than Performance-Based
                Compensation described in Section 4.2c. below) for services performed
                during such year must be submitted to the Plan Administrator no later
                than
                December 31 of the preceding calendar
                year.

            

    

    

    
      	 	
              c.

            	
              Performance-Based
                Compensation.
                In
                the case of any Performance-Based Compensation based upon a performance
                period of at least 12 months, provided that the Participant performed
                services continuously from a date no later than the date upon which
                the
                performance criteria are established through a date no earlier than
                the
                date upon which the service provider makes an initial deferral election,
                an initial deferral election may be made with respect to such
                Performance-Based Compensation no later than the date that is six
                months
                before the end of the performance period, provided that in no event
                may an
                election to defer Performance-Based Compensation be made after such
                Compensation has become both substantially certain to be paid and
                readily
                ascertainable. A
                Participant may elect to defer Performance-Based Compensation in
                his or
                her initial year of eligibility or any subsequent year, provided
                the
                requirements of this paragraph c. are
                satisfied.

            

    

    

    d.   
      Automatic
      Renewals. The
      Plan
      Administrator may, in its discretion, provide for automatically renewable
      Compensation Deferral Agreements. An automatically renewable Compensation
      Deferral Agreement deferring annual incentive awards and other Compensation
      permitted by the Plan Administrator will remain in effect for all future
      calendar years and performance periods unless modified or revoked during the
      applicable enrollment period specified in a. through c. above.

    
      	 	
              e.

            	
              Non-elective
                Deferrals.
                The HR Committee of the Company’s Board of Directors may specify deferrals
                of Compensation that, if paid, would be non-deductible under the
                provisions of Code Section 162(m). Such amounts will be credited
                to a
                Separation Account designated by the
                Company.

            

    

    

    
      	 	
              f.

            	
              Awards
                Subject to Forfeiture.
                A
                Participant may elect to defer Compensation awarded during the calendar
                year, provided (i) the initial election with respect to such award
                is
                filed with the Plan Administrator no later than 30 days after the
                award is
                made, (ii) such award is subject to a substantial risk of forfeiture
                for a
                period of not less than thirteen (13) months from the date of the
                award
                and (iii) the award would, absent the deferral, be payable no later
                than
                2-1/2 months following the calendar year in which such award is no
                longer
                subject to a substantial risk of
                forfeiture.

            

    

    

    An
      election to defer Compensation after the 30-day period described above may
      be
      filed no later than a date that is twelve (12) months prior to the date on
      which
      such award or portion thereof is no longer subject to a substantial risk of
      forfeiture (the “vesting date”), provided that the payment under the
      Compensation Deferral Agreement occurs no earlier than five (5) years after
      the
      vesting date.

    

    
      	 	
              g.

            	
              2005
                Elections.
                The Plan Administrator has the authority, effective January 1, 2005
                to
                allow any or all Participants to make or modify a Compensation Deferral
                Agreement with respect to deferrals subject to Code Section 409A,
                which
                relate all or in part to services performed prior to December 31,
                2005.
                Such election or modification must be filed with the Plan Administrator
                no
                later than March 15, 2005.

            

    

    
      
        9

         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              4.3

            	
              Amount
                of Deferral.
                The deferral election under a Compensation Deferral Agreement shall
                designate a dollar amount or whole percentage of Compensation to
                be
                deferred. The Plan Administrator may establish a minimum or maximum
                deferral amount for each component of Compensation and may permit
                separate
                elections for each component of Compensation.

            

    

    

    
      	
              4.4

            	
              Changes
                To A Deferral Election.

            

    

    

    
      	 	
              a.

            	
              Reductions
                for Withholding.
                A
                Participant’s Deferral Election may be reduced by such amount as is
                necessary to enable the Company to satisfy any tax withholding and
                payroll
                deduction obligations of the Participant and the Company as are required
                by law, the requirements of any benefit programs sponsored by the
                Company
                and Company procedures. Such reductions shall not be required if
                the
                Participant makes alternative arrangements with the Company for payment
                of
                such amounts.

            

    

    

    
      	 	
              b.

            	
              Participant’s
                Right to Modify or Revoke.
                An election to defer Compensation described in Section 4.2b. may
                be
                modified or revoked no later than the day preceding the first day
                of the
                calendar year to which such election applies. An election to defer
                Performance-Based Compensation may be modified or revoked no later
                than
                the last day a deferral election may be filed under Section 4.2c
                with
                respect to such Compensation. Notwithstanding the foregoing, a Participant
                may revoke an election as provided in Section 4.4c. Modifications
                and
                revocations must be submitted during such times as are specified
                by the
                Plan Administrator.

            

    

    

    
      	 	
              c.

            	
              Unforeseeable
                Emergency.
                A
                Participant may revoke an election to defer Compensation during the
                calendar year in which such Compensation is earned (or, in the case
                of
                Performance-Based Compensation, after the deadline specified in the
                enrollment materials) in the case of (a) an Unforeseeable Emergency
                or (b)
                a hardship distribution to the Participant described in Treas. Reg.
                Section 1.401(k)-1(d)(3).

            

    

    

    
      	
              4.5

            	
              Allocation
                Elections.
                A
                Participant’s deferral election may also specify the Investment Options in
                which deferrals will be deemed to be invested in accordance with
                Section
                6.2.

            

    

    

    
      	
              4.6

            	
              Payment
                Dates and Payment Schedules.
                

            

    

    

    
      	 	
              a.

            	
              Separation
                Payments.
                A
                Participant’s Compensation Deferral Agreement may designate one or more
                specified Payment Dates for payment of Deferrals after Separation
                from
                Service. The Plan Administrator shall create a Separation Account
                for each
                such Payment Date, to be credited with the portion of Deferrals allocated
                to such Separation Account. A Participant may maintain up to six
                Separation Accounts, reduced by the number of Specified Date Accounts
                established under paragraph 4.6b.,
                below.

            

    

    

    In
      the
      case of a Separation from Service prior to the date the Participant attains
      age
      55, all Separation Accounts will be paid as of the Payment Date specified in
      Section 2.25 in the form of a single lump sum.

    
      
        10

         

      

      
         

        
          

        

      

      
         

      

    

    In
      the
      case of a Separation from Service on or after a Participant attains age 55,
      payment will be made as of the Payment Date and under the Payment Schedule
      designated by the Participant. The Participant may designate the Payment Date
      and Payment Schedule for a Separation Account no later than the applicable
      submission deadline described in Section 4.2 for the Compensation Deferral
      Agreement that establishes such Separation Account. If no Payment Date is
      specified, the Payment Date is the date specified in Section 2.25. If no Payment
      Schedule is specified, payment shall be made in a single lump sum.

    

    Deferrals
      that are not allocated to a Separation Account or Specified Date Account under
      the terms of a Deferred Compensation Agreement will be allocated to the
      Separation Account with the earliest Payment Date. If a Participant has more
      than one Separation Account with the same Payment Date, the allocation will
      be
      made to the Separation Account with the shortest Payment Schedule. The
      determination of the Payment Date and Payment Schedules for purposes of this
      paragraph shall be determined at the time the Compensation Deferral Agreement
      authorizing the Deferral was filed with the Plan Administrator. If a Separation
      Account has not been established, the Administrator shall establish a Separation
      Account payable as of the Payment Date specified in 2.25 and payable in a single
      lump sum. 

    

    
      	 	
              b.

            	
              Specified
                Date Payment.
                A
                Participant’s Compensation Deferral Agreement may designate specified
                Payment Dates which may occur no earlier than the minimum deferral
                period
                specified by the Plan Administrator from time to time. The Plan
                Administrator shall create a Specified Date Account for each Payment
                Date,
                to be credited with the portion of Deferrals allocated to such Specified
                Date Account under the Compensation Deferral Agreement. A Participant
                may
                maintain up to six Specified Date Accounts, reduced by the number
                of
                Separation Accounts established under paragraph 4.6a.,
                above.

            

    

    

    The
      Participant must designate a Payment Date and Payment Schedule for each
      Specified Date Account no later than the applicable submission deadline
      described in Section 4.2 for the Deferred Compensation Agreement that
      establishes the Specified Date Account. If a Payment Date is not specified,
      the
      Specified Date Account will be converted to a Separation Account and such
      Account will be paid in a single lump sum as of the Payment Date specified
      in
      Section 2.25. 

    

    
      	 	
              c.

            	
              Modification
                to Payment Date and/or Payment Schedule.
                The Participant may modify a Payment Date and/or a Payment Schedule
                for a
                Separation Account or Specified Date Account as
                follows:

            

    

    

    
      	 	
              i.

            	
              An
                existing Payment Date and/or Payment Schedule may be changed so long
                as
                (i) the election may not take effect until at least twelve (12) months
                after the date on which the election is made, (ii) the date that
                such
                election is submitted to the Plan Administrator is at least twelve
                (12)
                months prior to the current Payment Date, and (iii) the Payment Date
                after
                modification is at least five (5) years after the current Payment
                Date.

            

    

    
      
        11

         

      

      
         

        
          

        

      

      
         

      

    

    
      	 	
              ii.

            	
              A
                modification that does not conform to the requirements of this paragraph
                c. shall be deemed not to have been made and will be disregarded
                by the
                Plan Administrator. In such a case, the Plan Administrator will pay
                benefits as of the Payment Date and under the Payment Schedule in
                effect
                prior to the nonconforming
                modification.

            

    

    

    
      	 	
              iii.

            	
              An
                election to change Payment Date and/or Payment Schedule is specific
                to the
                Account to which it refers, and shall not affect other Accounts or
                the
                ability of the Participant to designate new Payment Dates and Payment
                Schedules with respect to future
                Deferrals.

            

    

    

    
      	 	
              iv.

            	
              The
                modification of a Payment Date shall be further subject to the
                requirements of Code Section 409A.

            

    

    

    
      	 	
              d.

            	
              2005
                and 2006 Modifications to Payment Elections.
                During 2005 and 2006, the Plan Administrator may, in its discretion,
                permit Participants to establish Separation Accounts and/or Specified
                Date
                Accounts, to designate a Payment Date and Payment Schedule for each
                such
                Account and to allocate existing Account balances among such Accounts.
                Participants may also be permitted to modify any Payment Date and/or
                Payment Schedule associated with a Separation Account or Specified
                Date
                Account. Elections may be filed with the Plan Administrator pursuant
                to
                this paragraph without regard to (i) the requirements in paragraph
                c.,
                above and (ii) the prohibition on acceleration of payments under
                Code
                Section 409A. 

            

    

    

    Modification
      elections filed pursuant to this paragraph d. shall be subject to the following
      rules. A modification to a Payment Date scheduled in 2005 or 2006 must be filed
      prior to the scheduled Payment Date and no later than December 31, 2005. A
      modification to a Payment Date scheduled in 2007 or later must be filed no
      later
      than December 31, 2006. A modification filed on or after January 1, 2006 may
      not
      accelerate a payment from a later year into 2006. Subject to the foregoing
      limitations, the Plan Administrator has the authority to prescribe the time,
      manner and scope of any election to modify a Payment Date or Payment Schedule
      under the terms of this paragraph.

    

    
      	 	
              e.

            	
              Company’s
                Right to Modify.
                The Plan Administrator may modify a Payment Schedule election as
                necessary
                (and only as necessary) to conform the Payment Schedule to applicable
                law.

            

    

    

    
      
        12

         

      

      
         

        
          

        

      

      
         

      

    

    Article
      V

    Company
      Contributions

    

    

    
      	
              5.1

            	
              Company
                Awards.
                The HR Committee of the Board of Directors may, in its sole and absolute
                discretion, authorize Company Awards to one, some, or all of the
                Participant(s) in an amount determined in the sole and absolute discretion
                of the Committee. A Company Award may be made at any time during
                the
                calendar year and may consist of “matching” contributions. The HR
                Committee of the Board of Directors shall be under no obligation
                to make
                contributions to the Plan unless the Company has entered into a separate
                agreement (such as an employment agreement) to make such
                contributions.

            

    

    

    
      	
              5.2

            	
              Vesting.
                Company Awards and the Deemed Investment earnings thereon, shall
                vest in
                accordance with the vesting schedule(s) established by the Plan
                Administrator at the time that the Company Award is made. The unvested
                portion shall be forfeited upon Separation from Service. The Committee
                may, at any time, in its sole discretion, increase a Participant’s vested
                interest in a Company Award or restore any
                forfeiture.

            

    

    

    
      	
              5.3

            	
              Deferred
                Disability Contribution. 
                The Company will make an annual contribution to a Participant’s Account
                (known as a Deferred Disability Account) during each year in which
                a
                Participant is receiving disability benefits from the Company.  The
                amount of the Disability Contribution will equal 12.5% of the
                Participant’s Target Total Annual Compensation (defined below), up to a
                maximum of $70,000.  The Disability Contribution Account will be 100%
                vested at all times.  Payment from the Disability Contribution
                Account will be made on the earliest to occur of (a) the date a
                Participant attains age 65, (b) Unforeseeable Emergency or (c)
                death.  Payment will be made under the Payment Schedule in effect for
                the Participant’s Separation and Specified Date Accounts. Contributions
                under this Section 5.3 shall be made during such times as the Company
                is
                receiving payments under a policy of insurance that are payable due
                to the
                Participant’s disability.

            

    

    

    For
      purposes of this Section 5.3, Target Total Annual Compensation means, as of
      the
      last date prior to salary continuance, the total of (i) Participant’s annualized
      salary and the (ii) the Participant’s target annual incentive award under the
      Ball Corporation Economic Value Added Incentive Compensation Plan.

    

    Article
      VI

    Valuation
      of Accounts; Deemed Investments

    

    

    
      	
              6.1

            	
              Valuation.
                The valuation of a Participant’s Accounts will be adjusted as of each
                Business Day to reflect deferrals, earnings on Deemed Investments
                and
                distributions since the previous Business Day. The valuation of a
                benefit
                payable under Article VII will be determined as of the Business Day
                prior
                to the date payment is made from the Plan. The Plan Administrator
                may
                adopt such additional or alternative procedures as it may reasonably
                determine are appropriate for the valuation of Participant
                Accounts.

            

    

    
      
        13

         

      

      
         

        
          

        

      

      
         

      

    

    Deferrals
      pertaining to base salary shall be deducted on a proportionate basis from each
      paycheck the Participant receives during the calendar year and credited to
      the
      Participant’s Accounts as of the date such Compensation would have otherwise
      been paid. Deferrals pertaining to other forms of Compensation shall be credited
      to the Participant’s Accounts as of the day such Compensation otherwise would
      have been paid. 

    

    
      	
              6.2

            	
              Allocation
                Elections.
                Participants may make an Allocation Election pursuant to which their
                Accounts will be credited with earnings on Deemed Investments. A
                Participant may make a new Allocation Election with respect to future
                deferrals or current Account Balances (or both), provided that such
                new
                allocations shall be in increments of one percent (1%) of each Account
                and
                apply to such Account Balance. Subject to restrictions on the timing
                and
                number of permitted changes to Allocation Elections within certain
                time
                periods (if any) established by the Plan Administrator, new Allocation
                Elections may be made on any Business Day, and will become effective
                on
                the same Business Day or, in the case of Allocation Elections received
                after a cut-off time established by the Plan Administrator, the following
                Business Day. All deferrals shall be credited to the appropriate
                Account
                and a Deemed Investment shall be made in the investment(s) represented
                by
                the Investment Option(s) elected by the Participant as of the close
                of
                business on the deferral date or as otherwise provided by the Plan
                Administrator.

            

    

    

    
      	
              6.3

            	
              Investment
                Options.
                Deemed Investments shall consist of a menu of Investment Options
                provided
                by the Plan Administrator. Investment Options do not represent actual
                ownership of, nor ownership rights in or to, the securities or other
                investments to which the Investment Options refer. The Plan Administrator,
                in its sole discretion, shall be permitted to add or remove Investment
                Options provided that any such additions or removals of Investment
                Options
                shall not be effective with respect to any period prior to the effective
                date of such change. Any portion of an Account or new deferrals which
                has
                not been allocated or which cannot be allocated under a Participant’s
                Allocation Election shall be deemed to be invested in a money market
                fund
                or such other default Investment Option specified by the Plan
                Administrator. Such Investment Option shall have, as its primary
                objective, the preservation of
                capital.

            

    

    

    
      	
              6.4

            	
              Notional
                Investments.
                Notwithstanding anything in this section to the contrary, the Plan
                Administrator shall have the sole and exclusive authority to direct
                the
                investment of any or all amounts deferred in any manner, regardless
                of any
                Allocation Elections by any Participant. A Participant’s Allocation
                Election and Deemed Investments shall be used solely for purposes
                of
                determining the value of such Participant’s Account Balances and the
                amount of the corresponding liability of the Company in accordance
                with
                this Plan.

            

    

    

    
      
        14

         

      

      
         

        
          

        

      

      
         

      

    

    Article
      VII

    Distribution
      and Withdrawals

    

    

    
      	
              7.1

            	
              Separation
                Accounts.
                

            

    

    

    
      	 	
              a.

            	
              In
                the event that a Participant Separates from Service, any Separation
                Account will be paid to such Participant in accordance with the Payment
                Date and Payment Schedule elections in effect for each such Account.
                The
                amount of such payments shall be determined as of the Business Day
                preceding the date on which payment is made. In the event a Participant
                has elected installment payments, the installment payments shall
                be
                determined as set forth in Section 7.3 of the
                Plan.

            

    

    

    
      	 	
              b.

            	
              Notwithstanding
                a Participant’s election to receive a Separation Account as of a specified
                year, all Separation Account Balances shall be distributed upon Separation
                from Service under the provisions of Section 2.25(c) in a single
                lump sum.
                The amount of such payments shall be determined as of the Business
                Day
                preceding the date on which payment is
                made.

            

    

    

    
      	
              7.2

            	
              Specified
                Date Accounts.

            

    

    

    
      	 	
              a.

            	
              Each
                Specified Date Account shall be paid in accordance with the Payment
                Date
                and Payment Schedule elections in effect for such Account. The amount
                of
                such payments shall be determined as of the Business Day preceding
                the
                date on which payment is made. In the event a Participant has elected
                installment payments, the installment payments shall be determined
                as set
                forth in Section 7.3 of the Plan. 

            

    

    

    
      	 	
              b.

            	
              Notwithstanding
                a Participant’s election to receive a Specified Date Account as of a
                specified year, all Specified Date Account Balances shall be distributed
                upon Separation from Service under the provisions of Section 2.25(c)
                in a
                single lump sum. The amount of such payments shall be determined
                as of the
                Business Day preceding the date on which payment is
                made.

            

    

    

    
      	
              7.3

            	
              Installment
                Payments.
                Installment payments will be made as of the applicable Payment Date
                and
                each anniversary thereof. For payments described in Section 2.25(f)(2),
                payments will be made as of the July 1 payment date and each anniversary
                thereof. The amount of an installment payment is the applicable Account
                Balance as of the Payment Date (or anniversary thereof) determined
                on the
                Business Day prior to the date a payment is made divided by the remaining
                number of installments under the Payment
                Schedule.

            

    

    

    
      	
              7.4

            	
              Small
                Account Balance Lump Sum Payment.
                Anything to the contrary in this Plan notwithstanding, in the event
                that a
                Participant’s Deferred Compensation Account Balance is less than $25,000
                as of the January 1 following the year in which the Participant Separates
                from Service, the Participant’s Accounts shall be paid in a single lump
                sum in such following year at the time specified in Section 2.25f,
                and any
                form of payment election to the contrary shall be null and void.
                The
                amount of such payments shall be determined as of the Business Day
                preceding the date on which payment is
                made.

            

    

    
      
        15

         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              7.5

            	
              Deferred
                Disability Benefit.
                The Company shall pay or commence payment of the Deferred Disability
                Benefit as of the Deferred Disability Payment
                Date.

            

    

    

    
      	
              7.6

            	
              Death
                Distribution.
                In the event of a Participant’s death, the Participant’s Beneficiary shall
                be paid a Death Distribution as of the Payment Date specified in
                Section
                2.25d and under the Payment Schedule in effect for each of the
                Participant’s Accounts. The amount of such payments shall be determined as
                of the Business Day preceding the date on which payment is
                made.

            

    

    

    
      	
              7.7

            	
              Unforeseeable
                Emergency.
                A
                Participant may request, in writing to the Plan Administrator, a
                withdrawal from his or her Accounts if the Participant experiences
                an
                Unforeseeable Emergency. Withdrawals of amounts because of an
                Unforeseeable Emergency are limited to the extent reasonably needed
                to
                satisfy the emergency need, which cannot be met with other resources
                of
                the Participant. The amount of such withdrawal shall be subtracted
                first
                from the vested portion of the Account with the latest Payment Date
                at the
                time of the withdrawal request and then from the Account with the
                next
                latest Payment Date until the withdrawal is completed. Values for
                purposes
                of determining the source of the withdrawal under this Section shall
                be
                determined on the date the Plan Administrator approves the amount
                of the
                Unforeseeable Emergency withdrawal, or such other date determined
                by the
                Plan Administrator.

            

    

    

    A
      withdrawal under this Section 7.7 by a Participant who is a “16b Officer” must
      be approved by the HR Committee of the Board of Directors.

    

    
      	
              7.8

            	
              Domestic
                Relations Order.
                Notwithstanding the Payment Dates and Payment Schedule selected by
                a
                Participant with respect to his or her Accounts and any other provision
                of
                this Plan, the Plan Administrator is authorized to divide such
                Participant’s Accounts with and distribute a portion of such Participant’s
                Accounts to one or more “alternate payees” at the time and in the manner
                specified in a court order described in Section 414(p)(1)(B) of the
                Code.

            

    

    

    
      	
              7.9

            	
              Permitted
                Delays.
                Notwithstanding the foregoing, the Company shall delay any payment
                to a
                Participant under the Plan upon the Plan Administrator’s reasonable
                anticipation of one or more of the following events:
                

            

    

    

    
      	 	
              a.

            	
              The
                Company’s deduction with respect to such payment otherwise would be
                limited or eliminated by application of Code Section
                162(m);

            

    

    

    
      	 	
              b.

            	
              The
                making of the payment would violate a term of a loan agreement to
                which
                the Company or one of its subsidiaries is a party, or other similar
                contract to which the Company or one of its subsidiaries is a party,
                and
                such violation would cause material harm to the Company or one of
                its
                subsidiaries; or 

            

    

    

    
      	 	
              c.

            	
              The
                making of the payment would violate Federal securities laws or other
                applicable law;

            

    

    

    provided,
      that any payment subject to this Section 7.9 shall be paid in accordance with
      Code Section 409A.

    
      
        16

         

      

      
         

        
          

        

      

      
         

      

    

    Article
      VIII

    Administration

    

    

    
      	
              8.1

            	
              Plan
                Administration.
                This Plan shall be administered by the Plan Administrator, which
                shall
                have discretionary authority to make, amend, interpret and enforce
                all
                appropriate rules and regulations for the administration of this
                Plan and
                to utilize its discretion to decide or resolve any and all questions,
                including but not limited to eligibility for benefits and interpretations
                of this Plan and its terms, as may arise in connection with the Plan.
                Claims for benefits shall be filed with the Plan Administrator and
                resolved in accordance with the claims procedures in Article
                XI.

            

    

    

    
      	
              8.2

            	
              Withholding.
                The Company shall have the right to withhold from any payment made
                under
                the Plan (or any amount deferred into the Plan) any taxes required
                by law
                to be withheld in respect of such payment (or
                deferral).

            

    

    

    
      	
              8.3

            	
              Indemnification.
                The Company shall indemnify and hold harmless each employee, officer,
                or
                director to whom or to which it delegated duties, responsibilities,
                and
                authority under the Plan or otherwise with respect to administration
                of
                the Plan, including, without limitation, the Plan Administrator,
                the
                Committee and their agents against all claims, liabilities, fines
                and
                penalties, and all expenses reasonably incurred by or imposed upon
                him or
                it (including but not limited to reasonable attorney fees) which
                arise as
                a result of his or its actions or failure to act in connection with
                the
                operation and administration of the Plan to the extent lawfully allowable
                and to the extent that such claim, liability, fine, penalty, or expense
                is
                not paid for by liability insurance purchased or paid for by the
                Company.

            

    

    

    
      	
              8.4

            	
              Expenses.
                The expenses of administering the Plan shall be paid by the Company.
                Notwithstanding the foregoing, the Committee may indirectly allocate
                expenses, in its discretion, to Participants through a reduction
                to any or
                all Participant Accounts.

            

    

    

    
      	
              8.5

            	
              Delegation
                of Authority.
                In the administration of this Plan, the Plan Administrator may, from
                time
                to time, employ agents and delegate to them such administrative duties
                as
                it sees fit, and may from time to time consult with legal counsel
                who may
                be legal counsel to the Company.

            

    

    

    
      	
              8.6

            	
              Binding
                Decisions or Actions.
                The decision or action of the Plan Administrator in respect of any
                question arising out of or in connection with the administration,
                interpretation and application of the Plan and the rules and regulations
                thereunder shall be final and conclusive and binding upon all persons
                having any interest in the Plan.

            

    

    

    

    
      
        17

         

      

      
         

        
          

        

      

      
         

      

    

    Article
      IX

    Amendment
      and Termination

    

    

    
      	
              9.1

            	
              Amendment
                and Termination.
                The Plan is intended to be permanent, but the HR Committee of the
                Board of
                Directors of the Company may at any time modify, amend, or terminate
                the
                Plan, provided that such modification, amendment or termination shall
                not
                cancel, reduce, or otherwise adversely affect the amount of benefits
                of
                any Participant accrued (and any form of payment elected) as of the
                date
                of any such modification, amendment, or termination, without the
                consent
                of the Participant. A termination of the Plan shall not, by itself,
                result
                in payments to Participants under the Plan, except to the extent
                permitted
                under Code Section 409A. Unless distributions are otherwise permissible
                under such regulations, payments to Participants shall be made at
                the
                times specified in a Participant’s Compensation Deferral Agreements and
                the terms of the Plan applicable to such Agreements prior to the
                Plan’s
                termination.

            

    

    

    
      	
              9.2

            	
              Adverse
                Income Tax Determination.
                Notwithstanding anything to the contrary in the Plan, if any Participant
                receives a deficiency notice from the United States Internal Revenue
                Service asserting constructive receipt of deferrals under the Plan,
                Company Awards, and/or the investment earnings attributed thereto
                due to
                any Participant withdrawal right or other Plan provision, the Plan
                Administrator, in its sole discretion, may declare null and void
                any Plan
                provision with respect to affected Participants that causes such
                Participant to be in constructive receipt of income. If the laws
                of the
                United States or of any relevant state are amended or construed in
                such a
                way as to make this Plan (or its intended deferral of compensation
                and
                taxes) in whole or in part void, then the Plan Administrator, in
                its sole
                discretion, may give effect to the Plan in such a manner as it deems
                will
                best carry out the purposes and intentions of this Plan. Nothing
                in this
                Section 9.2 shall be construed to limit the Plan Administrator or
                Company’s authority under applicable law to take any such action as may be
                necessary to accomplish the objective of the Plan to defer the recognition
                of compensation for the purpose of the taxation of
                income.

            

    

    

    Notwithstanding
      any other provision of this Plan document or the provisions of any Compensation
      Deferral Agreement, a Participant will receive a distribution from the Plan
      in a
      single lump sum equal to the amount required to be included in income as a
      result of a violation of the terms and conditions of Code Section 409A and
      the
      Treasury Department Regulations promulgated thereunder.

    

    
      
        18

         

      

      
         

        
          

        

      

      
         

      

    

    Article
      X

    Informal
      Funding

    

    

    
      	
              10.1

            	
              General
                Assets.
                All benefits in respect of a Participant under this Plan shall be
                paid
                directly from the general funds of the Company or a Rabbi Trust created
                for the purpose of informally funding the Plan, and other than such
                Rabbi
                Trust, if created, no special or separate fund shall be established
                and no
                other segregation of assets shall be made to assure payment. No
                Participant, spouse or Beneficiary shall have any right, title or
                interest
                whatever in or to any investments that the Company or its subsidiaries
                may
                make to aid the Company in meeting its obligation hereunder. Nothing
                contained in this Plan, and no action taken pursuant to its provisions,
                shall create or be construed to create a trust of any kind, or a
                fiduciary
                relationship, between the Company, or any if its subsidiaries or
                affiliated companies and any Employee, spouse, or Beneficiary. To
                the
                extent that any person acquires a right to receive payments from
                the
                Company hereunder, such rights are no greater than the right of an
                unsecured general creditor of the
                Company.

            

    

    

    
      	
              10.2

            	
              Rabbi
                Trust.
                The Company may, at its sole discretion, establish a grantor trust,
                commonly known as a Rabbi Trust, as a vehicle for accumulating the
                assets
                needed to pay the promised benefit, but the Company shall be under
                no
                obligation to establish any such trust or any other informal funding
                vehicle.

            

    

    

    Article
      XI

    Claims

    

    

    
      	
              11.1

            	
              Filing
                a Claim.
                Any controversy or claim arising out of or relating to the Plan shall
                be
                filed with the Plan Administrator which shall make all determinations
                concerning such claim. Any decision by the Plan Administrator denying
                such
                claim shall be in writing and shall be delivered to the Participant
                or
                Beneficiary filing the claim (‘Claimant’).

            

    

    

    
      	 	
              a.

            	
              In
                General.
                Notice of a denial of benefits (other than Disability benefits) will
                be
                provided within 90 days of the Plan Administrator’s receipt of the
                Claimant's claim for benefits. If the Plan Administrator determines
                that
                it needs additional time to review the claim, the Plan Administrator
                will
                provide the Claimant with a notice of the extension before the end
                of the
                initial 90-day period. The extension will not be more than 90 days
                from
                the end of the initial 90-day period and the notice of extension
                will
                explain the special circumstances that require the extension and
                the date
                by which the Plan Administrator expects to make a
                decision.

            

    

    

    
      	 	
              b.

            	
              Disability
                Benefits.
                Notice of denial of Disability benefits will be provided within forty-five
                (45) days of the Plan Administrator’s receipt of the Claimant’s claim for
                Disability benefits. If the Plan Administrator determines that it
                needs
                additional time to review the Disability claim, the Plan Administrator
                will provide the Claimant with a notice of the extension before the
                end of
                the initial 45-day period. If the Plan Administrator determines that
                a
                decision cannot be made within the first extension period due to
                matters
                beyond the control of the Plan Administrator, the time period for
                making a
                determination may be further extended for an additional 30 days.
                If
                

            

    

    
      
        19

         

      

      
         

        
          

        

      

      
         

      

    

    such
      an
      additional extension is necessary, the Plan Administrator shall notify the
      Claimant prior to the expiration of the initial 30-day extension. Any notice
      of
      extension shall indicate the circumstances necessitating the extension of time,
      the date by which the Plan Administrator expects to furnish a notice of
      decision, the specific standards on which such entitlement to a benefit is
      based, the unresolved issues that prevent a decision on the claim and any
      additional information needed to resolve those issues. A Claimant will be
      provided a minimum of 45 days to submit any necessary additional information
      to
      the Plan Administrator. In the event that a 30-day extension is necessary due
      to
      a Claimant’s failure to submit information necessary to decide a claim, the
      period for furnishing a notice of decision shall be tolled from the date on
      which the notice of the extension is sent to the Claimant until the earlier
      of
      the date the Claimant responds to the request for additional information or
      the
      response deadline. 

    

    
      	 	
              c.

            	
              Contents
                of Notice.
                If a claim for benefits is completely or partially denied, notice
                of such
                denial shall be in writing and shall set forth the reasons for denial
                in
                plain language. The notice shall (1) cite the pertinent provisions
                of the
                Plan document and (2) explain, where appropriate, how the Claimant
                can
                perfect the claim, including a description of any additional material
                or
                information necessary to complete the claim and why such material
                or
                information is necessary. The claim denial also shall include an
                explanation of the claims 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
                decision
                on review. In the case of a complete or partial denial of a Disability
                benefit claim, the notice shall provide a statement that the Plan
                Administrator will provide to the Claimant, upon request and free
                of
                charge, a copy of any internal rule, guideline, protocol, or other
                similar
                criterion that was relied upon in making the
                decision.

            

    

    

    
      	
              11.2

            	
              Appeal
                of Denied Claims.
                A
                Claimant whose claim has been completely or partially denied shall
                be
                entitled to appeal the claim denial by filing a written appeal with
                the HR
                Committee. A Claimant who timely requests a review of the denied
                claim (or
                his or her authorized representative) may review, upon request and
                free of
                charge, copies of all documents, records and other information relevant
                to
                the denial and may submit written comments, documents, records and
                other
                information relevant to the claim to the HR Committee. All written
                comments, documents, records, and other information shall be considered
                “relevant” if the information (1) was relied upon in making a benefits
                determination, (2) was submitted, considered or generated in the
                course of
                making a benefits decision regardless of whether it was relied upon
                to
                make the decision, or (3) demonstrates compliance with administrative
                processes and safeguards established for making benefit decisions.
                The HR
                Committee may, in its sole discretion and if it deems appropriate
                or
                necessary, decide to hold a hearing with respect to the claim
                appeal.

            

    

    

    
      	 	
              a.

            	
              In
                General.
                Appeal of a denied benefits claim (other than a Disability benefits
                claim)
                must be filed in writing with the HR Committee no later than sixty
                (60)
                days after receipt of the written notification of such claim denial.
                The
                HR Committee shall make its decision regarding the merits of the
                denied
                claim within sixty (60) days following receipt of the appeal (or
                within
                one hundred and twenty (120) days after such receipt, in a case where
                there are special circumstances requiring extension of
                

            

    

    
      
        20

         

      

      
         

        
          

        

      

      
         

      

    

    time
      for
      reviewing the appealed claim). If an extension of time for reviewing the appeal
      is required because of special circumstances, written notice of the extension
      shall be furnished to the Claimant prior to the commencement of the extension.
      The notice will indicate the special circumstances requiring the extension
      of
      time and the date by which the HR Committee expects to render the determination
      on review. The review will take into account comments, documents, records and
      other information submitted by the Claimant relating to the claim without regard
      to whether such information was submitted or considered in the initial benefit
      determination.

    

    
      	 	
              b.

            	
              Disability
                Benefits.
                Appeal of a denied Disability benefits claim must be filed in writing
                with
                the HR Committee no later than one hundred eighty (180) days after
                receipt
                of the written notification of such claim denial. The review shall
                be
                conducted by the HR Committee (exclusive of the person who made the
                initial adverse decision or such person’s subordinate). In reviewing the
                appeal, the HR Committee shall (1) not afford deference to the initial
                denial of the claim, (2) consult a medical professional who has
                appropriate training and experience in the field of medicine relating
                to
                the Claimant’s disability and who was neither consulted as part of the
                initial denial nor is the subordinate of such individual and (3)
                identify
                the medical or vocational experts whose advice was obtained with
                respect
                to the initial benefit denial, without regard to whether the advice
                was
                relied upon in making the decision. The HR Committee shall make its
                decision regarding the merits of the denied claim within forty-five
                (45)
                days following receipt of the appeal (or within ninety (90) days
                after
                such receipt, in a case where there are special circumstances requiring
                extension of time for reviewing the appealed claim). If an extension
                of
                time for reviewing the appeal is required because of special
                circumstances, written notice of the extension shall be furnished
                to the
                Claimant prior to the commencement of the extension. The notice will
                indicate the special circumstances requiring the extension of time
                and the
                date by which the HR Committee expects to render the determination
                on
                review. Following its review of any additional information submitted
                by
                the Claimant, the HR Committee shall render a decision on its review
                of
                the denied claim.

            

    

    

    
      	 	
              c.

            	
              Contents
                of Notice.
                If a benefits claim is completely or partially denied on review,
                notice of
                such denial shall be in writing and shall set forth the reasons for
                denial
                in plain language. 

            

    

    

    
      	 	
              i.

            	
              The
                decision on review shall set forth (a) the specific reason or reasons
                for
                the denial, (b) specific references to the pertinent Plan provisions
                on
                which the denial 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 documents, records, or other information relevant (as
                defined above) to the Claimant’s claim, and (d) a statement describing any
                voluntary appeal procedures offered by the plan and a statement of
                the
                Claimant’s right to bring an action under Section 502(a) of ERISA.
                

            

    

    

    
      
        21

         

      

      
         

        
          

        

      

      
         

      

    

    
      	 	
              ii.

            	
              For
                the denial of a Disability benefit, the notice will also include
                a
                statement that the HR Committee will provide, upon request and free
                of
                charge, (a) any internal rule, guideline, protocol or other similar
                criterion relied upon in making the decision, (b) any medical opinion
                relied upon to make the decision and (c) the required statement under
                Section 2560.503-1(j)(5)(iii) of the Department of Labor
                regulations.

            

    

    

    
      	
              11.3

            	
              Legal
                Action.
                A
                Claimant may not bring any legal action relating to a claim for benefits
                under the Plan unless and until the Claimant has followed the claims
                procedures under the Plan and exhausted his or her administrative
                remedies
                under such claims procedures.

            

    

    

    
      	
              11.4

            	
              Discretion
                of Committee.
                All interpretations, determinations and decisions of the Committee
                with
                respect to any claim shall be made in its sole discretion, and shall
                be
                final and conclusive.

            

    

    

    
      	
              11.5

            	
              Administration
                Upon Change in Control.

            

    

    

    Committee.
      For
      purposes of this Plan, the Committee shall be the Plan Administrator at all
      times prior to the occurrence of a Change in Control. Upon and after the
      occurrence of a Change in Control, the Plan Administrator shall be an
      independent third party selected by the individual who, immediately prior to
      such event, was the Company’s CEO or, if not so identified, the Company’s
      highest ranking officer (the “Ex-CEO”); provided, however, the Committee, as
      constituted immediately prior to a Change in Control, shall continue to act
      as
      the Plan Administrator of this Plan until the date on which the independent
      third party selected by the CEO accepts the responsibilities of Plan
      Administrator under this Plan. Upon and after a Change in Control, the Plan
      Administrator shall have the discretionary power to determine all questions
      arising in connection with the administration of the Plan and the interpretation
      of the Plan and Trust except benefit entitlement determinations upon appeal;
      provided, however, upon and after the occurrence of a Change in Control, the
      Plan Administrator shall have no power to direct the investment of Plan or
      Trust
      assets or select any investment manager or custodial firm for the Plan or Trust.
      Upon and after the occurrence of a Change in Control, the Company must: (1)
      pay
      all reasonable administrative expenses and fees of the Plan Administrator;
      (2)
      indemnify the Plan Administrator against any costs, expenses and liabilities
      including, without limitation, attorney’s fees and expenses arising in
      connection with the performance of the Plan Administrator hereunder, except
      with
      respect to matters resulting from the gross negligence or willful misconduct
      of
      the Plan Administrator or its employees or agents; and (3) supply full and
      timely information to the Plan Administrator on all matters relating to the
      Plan, the Trust, the Participants and their Beneficiaries, the Account Balances
      of the Participants, the date and circumstances of the Disability, death or
      Separation
      from Service
      of the
      Participants, and such other pertinent information as the Plan Administrator
      may
      reasonably require. Upon and after a Change in Control, the Plan Administrator
      may only be terminated (and a replacement appointed) by the Ex-CEO or, if not
      so
      identified, the Company’s highest ranking officer prior to the Change in
      Control. Upon and after a Change in Control, the Plan Administrator may not
      be
      terminated by the Company.

    
      
        22

         

      

      
         

        
          

        

      

      
         

      

    

    Benefit
      Review Committee.
      Upon
      and after the occurrence of a Change in Control, the HR Committee, as
      constituted immediately prior to a Change in Control, shall continue to review
      denied claims as provided in Article 14 of this Plan. In the event any member
      of
      the HR Committee resigns or is unable to perform the duties of a member of
      the
      HR Committee, successors to such members shall be selected by the Ex-CEO. Upon
      and after a Change in Control, the Benefits Review Committee shall have the
      discretionary power and authority to determine all questions arising in
      connection with the review of a denied claim as provided in Section 11.2 Upon
      and after the occurrence of a Change in Control, the Company must: (1) pay
      all
      reasonable administrative expenses and fees of the HR Committee; (2) indemnify
      the HR Committee against any costs, expenses and liabilities including, without
      limitation, attorney’s fees and expenses arising in connection with the
      performance of the HR Committee hereunder, except with respect to matters
      resulting from the gross negligence or willful misconduct of the HR Committee
      or
      its employees or agents; and (3) supply full and timely information to the
      HR
      Committee on all matters relating to the Plan, the Trust, the Participants
      and
      their Beneficiaries, the Account Balances of the Participants, the date and
      circumstances of the Disability, death or Separation
      from Service
      of the
      Participants, and such other pertinent information as the HR Committee may
      reasonably require. Upon and after a Change in Control, a member of the HR
      Committee may not be removed by the Company but may only be removed (and a
      replacement appointed) by the Ex-CEO.

    

    Article
      XII

    General
      Conditions

    

    

    
      	
              12.1

            	
              Anti-assignment
                Rule.
                No interest of any Participant, spouse or Beneficiary under this
                Plan and
                no benefit payable hereunder shall be assigned as security for a
                loan, and
                any such purported assignment shall be null, void and of no effect,
                nor
                shall any such interest or any such benefit be subject in any manner,
                either voluntarily or involuntarily, to anticipation, sale, transfer,
                assignment or encumbrance by or through any Participant, spouse or
                Beneficiary.

            

    

    

    
      	
              12.2

            	
              No
                Legal or Equitable Rights or Interest.
                No Participant or other person shall have any legal or equitable
                rights or
                interest in this Plan that are not expressly granted in this Plan.
                Participation in this Plan does not give any person any right to
                be
                retained in the service of the Company or any of its subsidiaries
                or
                affiliated companies. The right and power of the Company or its
                subsidiaries to dismiss or discharge an Employee is expressly reserved.
                Notwithstanding the provisions of Section 9.2, the Company makes
                no
                representations or warranties as to the tax consequences to a Participant
                or a Participant’s beneficiaries resulting from a deferral of income
                pursuant to the Plan or that the Plan complies in form or operation
                with
                Section 409A of the Code and regulations issued
                thereunder.

            

    

    

    
      	
              12.3

            	
              No
                Employment Contract.
                Nothing contained herein shall be construed to constitute a contract
                of
                employment between an Employee and the Company or any of its subsidiaries
                or affiliated companies.

            

    

    
      
        23

         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              12.4

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

            

    

    

    
      	
              12.5

            	
              Invalid
                or Unenforceable Provisions.
                If any provision of this Plan shall be held invalid or unenforceable,
                such
                invalidity or unenforceability shall not affect any other provisions
                hereof and the Plan Administrator may elect in its sole discretion
                to
                construe such invalid or unenforceable provisions in a manner that
                conforms to applicable law or as if such provisions, to the extent
                invalid
                or unenforceable, had not been
                included.

            

    

    

    
      	
              12.6

            	
              Governing
                Law.
                To the extent not preempted by ERISA, the laws of the State of Indiana
                shall govern the construction and administration of the
                Plan.

            

    

    

    

    

    

    IN
      WITNESS WHEREOF, the undersigned executed this Plan as of the     day
      of          ,
      2005, to be effective as of the Effective Date.

    

    

    Ball
      Corporation

    

    

    By: __________________________________________

    

    Its: __________________________________________
       

       

      
        
          
            24Ball Corporation 2005 Deferred Compensation Company Stock Plan

    

      Exhibit
        10.2

      
        	 	
                 

                Ball
                  Corporation

              
	 	
                2005
                  Deferred Compensation 

              
	 	
                Company
                  Stock Plan

              
	 	 
	 	
                Effective
                  January 1, 2005

              

      

      

      
        
          
            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      Ball
        Corporation 2005 Deferred Compensation Company Stock Plan

      

      Article
        I 

      Establishment
        and Purpose 

      

      Article
        II

      Definitions 

      

      Article
        III

      Eligibility
        and Participation 

      

      Article
        IV

      Deferral
        Elections 

      

      Article
        V

      Company
        Awards 

      

      Article
        VI

      Valuation
        of Accounts 

      

      Article
        VII

      Distribution
        and Withdrawals 

      

      Article
        VIII

      Administration 

      

      Article
        IX

      Amendment
        and Termination 

      

      Article
        X

      Informal
        Funding 

      

      Article
        XI

      Claims 

      

      Article
        XII

      General
        Conditions 

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      Article
        I

      Establishment
        and Purpose

      

      

      Ball
        Corporation (the “Company”) has maintained and will continue to maintain the
        Ball Corporation 2001 Deferred Compensation Plan, the Ball Corporation 2000
        Deferred Compensation Company Stock Plan, and the Ball Corporation 2002 Deferred
        Compensation Plan for Directors (the “Grandfathered Plans”). 

      

      Effective
        January 1, 2005 the Company hereby adopts the Ball Corporation 2005 Deferred
        Compensation Company Stock Plan (the “Plan”). The purpose of the Plan is to
        continue to provide Participants with an opportunity to defer receipt of
        annual
        incentive awards and other compensation in compliance with Internal Revenue
        Code
        Section 409A.

      

      In
        addition, proposed Treasury regulations published on October 4, 2005 require
        the
        Company to adopt written amendments prior to December 31, 2005 with respect
        to
        items of transition relief described in Notice 2005-1 that expire on December
        31, 2005. This Plan document is intended to satisfy the amendment requirements
        of the proposed regulations without the amendment constituting a “material
        modification” to the Grandfathered Plans. The Company expects to review and
        restate the Plan in 2006 in accordance with the extended transition relief
        deadlines set forth in the proposed regulations.

      

      The
        Plan
        is not intended to meet the qualification requirements of Code Section 401(a),
        but is intended to meet the requirements Code Section 409A, and to be an
        unfunded arrangement providing deferred compensation to Directors and eligible
        employees who are part of a select group of management or highly compensated
        employees of the Company, its subsidiaries and affiliates, within the meaning
        of
        Sections 201, 301 and 401 of ERISA. The Plan is intended to be exempt from
        the
        requirements of Parts 2, 3 and 4 of Title I of ERISA as a "top hat" plan,
        and to
        be eligible for the alternative method of compliance for reporting and
        disclosure available for unfunded "top hat" plans.

      

      The
        Plan
        is further intended (1) to assist the Company in attracting and retaining
        key
        employees by providing a non-qualified deferred compensation vehicle that
        also
        increases the interest of such key employees in the Company Stock performance,
        and (2) to establish an alternative method of compensating those Directors
        of
        the Company who do not receive compensation as employees of the Company in
        a way
        that increases the interest of such Directors in the Company Stock
        performance.

      

      Article
        II

      Definitions

      

      

      
        	
                2.1

              	
                Account.
                  Account means a bookkeeping account maintained by the Plan Administrator
                  to record deferrals allocated to it by the Participant, the Company
                  in the
                  form of Company Awards (if any), returns on Units, payments, and
                  such
                  other transactions, if any, that may be required to properly administer
                  the Plan. Without limiting the Plan Administrator’s authority to establish
                  Accounts as it deems necessary, Accounts may include, for each
                  Participant, up to six Separation Accounts. Such Accounts shall
                  be used
                  

              

      

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

      to
        determine the amount of benefits payable to a Participant or Beneficiary
        in
        accordance with the form of payment and timing requirements specified in
        the
        Participant’s Compensation Deferral Agreements and subject to the terms of the
        Plan. The Account shall not constitute or be treated as an escrow, trust
        fund,
        or any other type of funded account for Code or ERISA purposes and amounts
        credited thereto shall not be considered “plan assets” for federal income tax or
        ERISA purposes. Accounts under this Plan shall reflect only those amounts
        considered to be Deferrals as defined in this Plan. The provisions of this
        Plan
        shall apply only to such Accounts and shall not apply to any Grandfathered
        Plan
        accounts.

      

      
        	
                2.2

              	
                Account
                  Balance.
                  Account Balance means, with respect to any Account, the value on
                  each
                  Business Day of such Account. The Account Balance is determined
                  as of the
                  Payment Date (or Business Day next preceding the Payment Date if
                  not on a
                  Business Day) for the purpose of paying any benefit under the provisions
                  of Article VII.

              

      

      

      
        	
                2.3

              	
                Beneficiary.
                  Beneficiary means a person, estate, or trust designated by a Participant
                  to receive benefits to which such Beneficiary is entitled in accordance
                  with provisions of the Plan. The Participant’s spouse, if living,
                  otherwise the Participant’s estate, shall be the Beneficiary
                  if

              

      

      

      
        	 	
                a.

              	
                the
                  Participant has not designated a person or trust as Beneficiary,
                  or

              

      

      
        	 	
                b.

              	
                the
                  designated Beneficiary(ies) has/have all predeceased the
                  Participant.

              

      

      

      
        	
                2.4

              	
                Business
                  Day.
                  A
                  Business Day is each day on which the New York Stock Exchange is
                  open for
                  business.

              

      

      

      
        	
                2.5

              	
                Change
                  in Control.
                  Change of Control shall have the meaning given to a “change in control” or
                  similar term as defined in the trust established under Section
                  10.2. If
                  such trust does not define “change in control” or a similar term, Change
                  in Control shall have the same definition as the definition under
                  Section
                  409A of the Code.

              

      

      

      
        	
                2.6

              	
                Code.
                  Code means the Internal Revenue Code of 1986, as amended from time
                  to
                  time, the Treasury Department regulations issued thereunder, and
                  applicable Notices, Revenue Rulings and similar guidance issued
                  by the
                  Internal Revenue Service.

              

      

      

      
        	
                2.7

              	
                Committee.
                  Committee means the Deferred Compensation Committee of the Company.
                  

              

      

      

      
        	
                2.8

              	
                Company.
                  Company means Ball Corporation, its subsidiaries and its
                  successors.

              

      

      

      
        	
                2.9

              	
                Company
                  Award.
                  Company Award means a credit by the Company to a Separation Account
                  as
                  specified by the Company in accordance with the provisions of Article
                  V of
                  the Plan. Company Awards are made or not made in the sole discretion
                  of
                  the Company and the fact that a Company Award is made in one year
                  shall
                  not obligate the Company to continue to make such Company Award
                  in
                  subsequent years.

              

      

      

      
        	
                2.10

              	
                Company
                  Stock.
                  “Company Stock” means the common stock of Ball
                  Corporation.

              

      

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      
        	
                2.11

              	
                Compensation.
                  Compensation means, for purposes of this Plan, annual incentive
                  awards and
                  long-term incentive compensation. Compensation may also include,
                  without
                  limitation, base salary (including any deferred salary under a
                  Code
                  Section 401(k) or 125 plan) and such other cash or equity-based
                  compensation (if any) that is determined by the Plan Administrator,
                  in its
                  sole discretion, as eligible for deferral under the terms of this
                  Plan.
                  Compensation for Directors includes the non-equity portion of Annual
                  Incentive Retainer and other compensation for services performed
                  as a
                  Director.

              

      

      

      
        	
                2.12

              	
                Compensation
                  Deferral Agreement.
                  Compensation Deferral Agreement means an agreement submitted to
                  the Plan
                  Administrator in which a Participant (a) makes an election to defer
                  Compensation in accordance with Article IV, (b) specifies the Separation
                  Accounts that will be credited with deferrals under the Agreement,
                  (c)
                  specifies the Payment Dates upon establishing each Separation Account
                  and
                  (d) specifies a Payment Schedule upon establishing each Separation
                  Account. A Compensation Deferral Agreement is effective (and irrevocable,
                  subject to the provisions of the Plan) with respect to a service
                  period or
                  Company Contribution as of the first day following the election
                  period
                  specified in Article IV or as provided under Treasury Department
                  regulations. A Compensation Deferral Agreement remains in effect
                  until
                  modified in accordance with the Plan.

              

      

      

      Notwithstanding
        the foregoing, and subject to the provisions of Section 3.3, the Plan
        Administrator may modify a Participant’s Compensation Deferral Agreement at any
        time to conform the Compensation Deferral Agreement and the Plan to applicable
        law. The Compensation Deferral Agreement will consist of an agreement prepared
        under the authority of the Plan Administrator which may be modified from
        time to
        time, consistent with the material terms of the Plan and the Plan
        Administrator’s authority as delegated by the HR Committee of the Board of
        Directors of the Company. A completed Compensation Deferral Agreement, and
        any
        modifications thereto authorized under the Plan, may be submitted to the
        Plan
        Administrator in paper or electronic form, under procedures prescribed by
        the
        Plan Administrator.

      

      
        	
                2.13

              	
                Death
                  Distribution.
                  Death Distribution shall mean the payment of the Participant’s Separation
                  Account Balances to the Participant's Beneficiary(ies) in accordance
                  with
                  Article VII of the Plan.

              

      

      

      
        	
                2.14

              	
                Deferral.
                  Deferral means a deferral of Compensation that is subject to the
                  deferral
                  election and payment requirements of Code Section
                  409A.

              

      

      

      
        	
                2.15

              	
                Deferred
                  Compensation Account.
                  Deferred Compensation Account means the Account maintained by the
                  Plan
                  Administrator that records the total amount of liability of the
                  Company to
                  a Participant at any point in time, and includes all unpaid Account
                  Balances.

              

      

      

      
        	
                2.16

              	
                Director.
                  Director means a non-employee member of the Board of Directors
                  of the
                  Company.

              

      

      

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      
        	
                2.17

              	
                Dividends.
                  “Dividends” means an amount credited to each of the Participant’s Accounts
                  equal to the number of Units in each such Account (as determined
                  pursuant
                  to Section 6.2) multiplied by the amount of quarterly dividend
                  payable
                  with respect to one share of Company Stock. The amount of quarterly
                  Dividends shall be determined based on the number of Units in the
                  Participant’s Deferred Compensation Account as of the record date for
                  determining dividends payable to shareholders of the Company.
                  

              

      

      

      
        	
                2.18

              	
                Effective
                  Date.
                  Effective Date means January 1, 2005 with respect to Deferrals
                  occurring
                  on or after such date.

              

      

      

      
        	
                2.19

              	
                Eligible
                  Employee.
                  Eligible Employee means an Employee of the Company or its subsidiaries
                  who
                  is part of a select group of management or highly compensated employees
                  of
                  the Company (which also includes for this purpose its subsidiaries
                  and
                  affiliated companies) within the meaning of Sections 201(2), 301(a)(3)
                  and
                  401(a)(1) of ERISA, and who is selected by the Plan Administrator
                  to
                  participate in the Plan. An Eligible Employee shall also include
                  any
                  member of the Company’s Board of Directors as the context
                  requires.

              

      

      

      
        	
                2.20

              	
                Employee.
                  Employee means a common law employee of the
                  Company.

              

      

       

      
        	
                2.21

              	
                ERISA.
                  ERISA means the Employee Retirement Income Security Act of 1974,
                  as
                  amended from time to time.

              

      

      

      
        	
                2.22

              	
                Participant.
                  Participant means an Eligible Employee who: (a) has elected to
                  defer
                  Compensation in accordance with the Plan; (b) has received a Company
                  Award; or (c) has a Deferred Compensation Account Balance greater
                  than
                  zero regardless of whether the Participant is still employed by
                  or, in the
                  case of Directors, providing services as a Director to the Company.
                  A
                  Participant’s continued participation in the Plan shall be governed by
                  Section 3.2 of the Plan.

              

      

      

      
        	
                2.23

              	
                Payment
                  Date.
                  Payment Date means the date on which payments from an Account are
                  scheduled to commence.

              

      

      

      a.     Separation
        Accounts.
        A
        Participant may elect in a Compensation Deferral Agreement that establishes
        a
        Separation Account the number of years following Separation from Service
        when
        payment will be made from the Account (e.g., “Third year following Separation
        from Service”). The Payment Date is deemed to be January 1 of such year. If no
        Payment Date is designated, the Payment Date is January 1 of the year following
        the year in which the Participant Separates from Service.

      

      b.     Separation
        Prior to Age 55. In
        the
        event a Participant Separates from Service prior to attaining age 55, the
        Payment Date for all Accounts is January 1 of the year following the year
        in
        which the Separation from Service occurred.

      

      c.     Death.
        In
        the
        event of the Participant’s death, the Payment Date for payments to Beneficiaries
        is January 1 of the year following the year in which the Participant
        died.

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      d.     Administration.
        Pursuant
        to Code Section 409A, payment will be treated as made upon the applicable
        Payment Date if the payment is made by the later of the first date it is
        administratively feasible to do so after such Payment Date or the end of
        the
        calendar year containing such Payment Date. The Plan Administrator shall
        adopt
        such administrative procedures as are necessary to reasonably ensure that
        payments scheduled for January 1 of a given year will be made after January
        1 of
        such year and before February 15 of such year.

      

      In
        addition, to facilitate administration of the Plan, all Participants shall
        be
        treated as “specified employees” as defined in Code Section 409A. Accordingly,
if
        a
        Payment Date occurs in the year following a Separation from Service, payment
        will be made as follows:

      

      
        	 	
                1.

              	
                If
                  Separation from Service occurs prior to July 1, actual payment
                  will be
                  made no earlier than January 1 of the year next following the year
                  in
                  which the Separation from Service occurred, and, except where required
                  for
                  administrative necessity, no later than February 15 of such
                  year.

              

      

      

      
        	 	
                2.

              	
                If
                  Separation from Service occurs on or after July 1 and before December
                  31,
                  actual payment will be made no earlier than July 1 of the year
                  next
                  following the year in which the Separation from Service occurred,
                  and,
                  except where required for administrative necessity, no later than
                  August
                  15 of such year.

              

      

      

      
        	
                2.24

              	
                Payment
                  Schedule.
                  Payment Schedule means the form in which payments will be made
                  from the
                  Account established under the Plan. The Payment Schedule for an
                  Account
                  will be a single lump sum unless the Participant elects an alternative
                  Payment Schedule at the time(s) and in the manner specified in
                  this
                  Plan.

              

      

      

      A
        Participant may elect to receive a Separation Account (a) in a lump sum from
        0%
        to 100% of the Account Balance, and (b) the balance, if any, in annual
        installments from two (2) to fifteen (15) years. If the lump sum is less
        than
        100%, then (i) the lump sum and (ii) the series of annual installments will
        each
        be treated as separate Payment Schedules for purposes of the payment
        modification provisions of Section 4.5c.

      

      All
        Accounts will be paid in a single lump sum to an Employee Participant who
        Separates from Service prior to attaining age 55, regardless of any other
        Payment Schedule that may be in effect for the Accounts.

      

      A
        Death
        Distribution will be paid from each Account pursuant to the Payment Schedule
        in
        effect for each such Account.

      

      Notwithstanding
        any Payment Schedule elected by a Participant, distributions shall not be
        made
        in such a manner as to cause the acceleration of a payment in violation of
        Code
        Section 409A. The Plan Administrator retains the authority to determine when
        and
        to what extent a payment option, unless modified, would result in acceleration
        of a payment and to make corresponding adjustments to the Participant’s Payment
        Schedule to avoid an impermissible acceleration.

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      
        	
                2.25

              	
                Performance-Based
                  Compensation.
                  Performance-Based Compensation means Compensation based on services
                  performed over a period of not less than twelve months and which
                  meets the
                  following requirements: (a) the payment of the Compensation or
                  the amount
                  of the Compensation is contingent upon the satisfaction of organizational
                  or individual performance criteria that are established within
                  the first
                  90 days of the performance period, and (b) the performance criteria
                  are
                  not substantially certain to be met at the time a Compensation
                  Deferral
                  Agreement is submitted to the Plan Administrator. Performance criteria
                  may
                  be subjective but must relate to the performance of the Participant,
                  a
                  group of Employees that includes the Participant or a business
                  Unit (which
                  may include the Company) for which the Participant provides services.
                  For
                  Directors, Performance criteria may be subjective but must relate
                  to the
                  performance of the Participant, a Directors’ committee that includes the
                  Participant or the Board of Directors as a whole. The determination
                  that
                  any subjective performance criteria have been met shall not be
                  made by the
                  Participant or by a family member of the Participant. Performance-Based
                  Compensation does not include any amount or portion of any amount
                  that
                  will be paid regardless of performance or which is based on a level
                  of
                  performance that is substantially certain to be met at the time
                  the
                  criteria is established. The definition of Performance-Based Compensation
                  shall at all times be applied consistently with the provisions
                  of Code
                  Section 409A, which are incorporated by
                  reference.

              

      

      

      
        	
                2.26

              	
                Plan.
                  Plan means the Ball Corporation Deferred Compensation Company Stock
                  Plan
                  as documented herein and as may be amended from time to time
                  hereafter.

              

      

      

      
        	
                2.27

              	
                Plan
                  Administrator.
                  Plan Administrator means the Deferred Compensation Committee of
                  the
                  Company. 

              

      

      

      
        	
                2.28

              	
                Separation
                  from Service.
                  Separation from Service or Separates from Service shall mean a
                  Participant’s termination of employment with the Company or its
                  subsidiaries for any reason. The foregoing not withstanding, if
                  a
                  Participant transfers to the employ of the Company or any other
                  entity
                  that is within the controlled group of entities described in Section
                  414(b),(c),(m) or (o) of the Code that includes the Company, no
                  Separation
                  from Service shall be deemed to have occurred for purposes of this
                  Plan.
                  Whether a Separation from Service has occurred will be subject
                  to Treasury
                  Department regulations promulgated under Code Section
                  409A.

              

      

      

      For
        Directors, Separation from Service or Separates from Service means a
        Participant’s termination of service with the Board of Directors of the Company
        for any reason.

      

      
        	
                2.29

              	
                Separation
                  Account.
                  A
                  Separation Account is an Account established to record amounts
                  subject to
                  payment upon Separation from Service as described in Section
                  4.5a.

              

      

      

      
        	
                2.30

              	
                Unforeseeable
                  Emergency.
                  An unforeseeable emergency is a severe financial hardship to the
                  Participant resulting from a sudden and unexpected illness or accident
                  of
                  the Participant or of a dependent (as defined in Code Section 152(a))
                  of
                  the Participant, loss of the Participant's property due to casualty,
                  or
                  other similar extraordinary and unforeseeable circumstances arising
                  as a
                  result of events beyond the control of the Participant, as defined
                  in
                  Prop. Treas. Reg. 1.409A-3(g)(3). The Plan Administrator, in its
                  sole
                  discretion and subject to the requirements of Code Section 409A,
                  shall
                  determine

              

      

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      whether
        a
        Participant has experienced an Unforeseeable Emergency. Imminent foreclosure
        or
        eviction from the Participant’s or Beneficiary’s primary residence, the need to
        pay medical expenses, and funeral expenses of a spouse or dependent may
        constitute an Unforeseeable Emergency. The purchase of a home and the payment
        of
        college tuition are not Unforeseeable Emergencies. 

      

      
        	
                2.31

              	
                Unit.
                  “Unit” means the Units credited to a Participant’s Accounts pursuant to
                  Section 6. For valuation and distribution purposes, each Unit shall
                  be
                  equivalent to one share of Company Stock as of the applicable valuation
                  date. All Deferrals and Company Awards shall be credited to a
                  Participant’s Deferred Compensation Account in Units, or fractional Units,
                  with each Unit having a value equivalent to one share of Company
                  Stock.
                  With respect to any amount credited to a Participant’s Deferred
                  Compensation Account as of January 1 in any year, the number of
                  such
                  credited Units shall be determined by dividing the amount credited
                  to the
                  Participant’s account (including any related matching contributions) by
                  the closing price of one share of Company Stock indicated in the
                  New York
                  Stock Exchange Composite Listing as of the preceding Business Day.
                  With
                  respect to any amount credited to a Participant’s Deferred Compensation
                  Account (including any related matching contributions) as of any
                  day of
                  the year other than January 1, the number of such credited Units
                  shall be
                  determined based on the closing price of one share of Company Stock
                  indicated in the New York Stock Exchange Composite Listing as of
                  the
                  Business Day on which the Deferral is credited. 

              

      

      

      Changes
        in Capitalization.
        If
        there is any change in the number or class of shares of Company Stock through
        the declaration of a stock dividend or other extraordinary dividends, or
        recapitalization resulting in stock splits, or combinations or exchanges
        of such
        shares or in the event of similar corporate transactions, the Units in each
        Participant’s Deferred Compensation Account shall be equitably adjusted to
        reflect any such change in the number or class of issued shares of Company
        Stock
        or to reflect such similar corporate transaction.

      

      Article
        III

      Eligibility
        and Participation

      

      

      
        	
                3.1

              	
                Eligibility
                  and Participation.
                  Each Eligible Employee shall be eligible to participate in this
                  Plan. An
                  Eligible Employee becomes a Participant upon submission of a Compensation
                  Deferral Agreement to the Plan
                  Administrator.

              

      

      

      
        	
                3.2

              	
                Duration.
                  A
                  Participant shall be eligible to defer Compensation and receive
                  allocations of Company Awards subject to the terms of the Plan
                  as long as
                  such Participant is an Eligible
                  Employee.

              

      

      

      A
        Participant who is no longer an Eligible Employee but continues to be employed
        by the Company may not defer Compensation but may otherwise exercise all
        of the
        rights of a Participant under the Plan with respect to his or her Deferred
        Compensation Account. On and after a Separation from Service, a Participant
        shall remain a Participant as long as his or her Compensation Deferral Account
        is greater than zero. An individual shall cease participation in the Plan
        when
        all benefits under the Plan to which he or she is entitled have been
        paid.

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      
        	
                3.3

              	
                Revocation
                  of Future Participation.
                  Notwithstanding the provisions of Section 3.2, the Committee may,
                  in its
                  discretion, revoke such Participant’s eligibility to make future deferrals
                  under this Plan. Such revocation will not affect in any manner
                  a
                  Participant’s Deferred Compensation Account or other terms of this
                  Plan.

              

      

      

      
        	
                3.4

              	
                Notification.
                  Each newly Eligible Employee shall be notified by the Plan Administrator,
                  in writing, of the date of his or her initial eligibility to participate
                  in this Plan.

              

      

      

      Article
        IV

      Deferral
        Elections

      

      

      
        	
                4.1

              	
                Deferral
                  Elections.
                  A
                  Participant shall make Deferral elections by completing and submitting
                  to
                  the Plan Administrator the Compensation Deferral Agreement which
                  shall
                  specify the amount of the Deferral and the allocation to one or
                  more
                  Separation Accounts, as described in this Article IV. A Participant
                  may
                  establish up to six Separation
                  Accounts.

              

      

      

      
        	
                4.2

              	
                Time
                  of Election.

              

      

      

      
        	 	
                a.

              	
                Initial
                  Eligibility.
                  In the case of the calendar year in which an Employee first becomes
                  an
                  Eligible Employee (or, in the case of Directors, becomes a Director),
                  a
                  Compensation Deferral Agreement that defers Compensation with respect
                  to
                  services to be performed in such calendar year and subsequent to
                  the
                  election may be submitted to the Plan Administrator within 30 days
                  after
                  such Eligible Employee or Director becomes eligible to participate
                  in the
                  Plan.

              

      

      

      Employees.
        Eligible
        Employees who became Employees after January 1 of the calendar year may defer
        an
        annual incentive award for such calendar year. The election will be deemed
        to
        apply to services after the election if the maximum deferral is no greater
        than
        the portion
        of the Compensation equal to the total amount of the Compensation for the
        service period multiplied by the ratio of the number of days remaining in
        the
        performance period after the election over the total number of days in the
        performance period.

      

      Notwithstanding
        the foregoing, an Employee who was performing services for the Company as
        of
        January 1 and who became an Eligible Employee prior to June 1 may elect to
        defer
        an annual incentive award that qualifies as Performance-Based Compensation,
        in
        accordance with the requirements of paragraph c., below. Subject to Code
        Section
        409A, such Eligible Employee may defer the maximum bonus permitted by the
        Plan
        Administrator for all Participants in such year.

      

      Directors.
        Individuals
        who became Directors after January 1 of the calendar year may defer the
        non-equity portion of any annual incentive retainer for such calendar year.
        The
        election will be deemed to apply to services after the election if the maximum
        deferral is no greater than the portion
        of the Compensation equal to the total amount of the Compensation for the
        service period multiplied by the ratio of the number of days remaining in
        the
        performance period after the election over the total number of days in the
        performance period.

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      Initial
        Elections for Subsequent Deferrals. If
        an
        Eligible Employee does not submit a Compensation Deferral Agreement within
        the
        first 30 days of his or her eligibility to participate in the Plan, such
        Eligible Employee may submit a Compensation Deferral Agreement at such other
        times as are specified in this Plan. Such Compensation Deferral Agreement
        shall
        constitute the initial deferral election with respect to any Separation Accounts
        established under such election.

      

      
        	 	
                b.

              	
                Subsequent
                  Years.
                  Except as provided in c. through g., below, for any subsequent
                  year, the
                  Compensation Deferral Agreement containing the election to defer
                  Compensation for services performed during such year must be submitted
                  to
                  the Plan Administrator no later than December 31 of the preceding
                  calendar
                  year.

              

      

      

      
        	 	
                c.

              	
                Performance-Based
                  Compensation.
                  In
                  the case of any Performance-Based Compensation based upon a performance
                  period of at least 12 months, provided that the Participant performed
                  services continuously from a date no later than the date upon which
                  the
                  performance criteria are established through a date no earlier
                  than the
                  date upon which the service provider makes an initial deferral
                  election,
                  an initial deferral election may be made with respect to such
                  Performance-Based Compensation no later than the date that is six
                  months
                  before the end of the performance period, provided that in no event
                  may an
                  election to defer Performance-Based Compensation be made after
                  such
                  Compensation has become both substantially certain to be paid and
                  readily
                  ascertainable. A
                  Participant may elect to defer Performance-Based Compensation in
                  his or
                  her initial year of eligibility or any subsequent year, provided
                  the
                  requirements of this paragraph c. are
                  satisfied.

              

      

      

      d.   
        Automatic
        Renewals. The
        Plan
        Administrator may, in its discretion, provide for automatically renewable
        Compensation Deferral Agreements. An automatically renewable Compensation
        Deferral Agreement deferring annual incentive awards and other Compensation
        permitted by the Plan Administrator will remain in effect for all future
        calendar years and performance periods unless modified or revoked during
        the
        applicable enrollment period specified in a. through c. above.

      

      
        	 	
                e.

              	
                Non-elective
                  Deferrals.
                  The HR Committee of the Company Board of Directors may specify
                  deferrals
                  of Compensation that, if paid, would be non-deductible under the
                  provisions of Code Section 162(m). Such amounts will be credited
                  to a
                  Separation Account designated by the
                  Company.

              

      

      

      
        	 	
                f.

              	
                Awards
                  Subject to Forfeiture.
                  A
                  Participant may elect to defer Compensation awarded during the
                  calendar
                  year, provided (i) the initial election with respect to such award
                  is
                  filed with the Plan Administrator no later than 30 days after the
                  award is
                  made, (ii) such award is subject to a substantial risk of forfeiture
                  for a
                  period of not less than thirteen (13) months from the date of the
                  award
                  and (iii) the award would, absent the deferral, be payable no later
                  than
                  2-1/2 months following the calendar year in which such award is
                  no longer
                  subject to a substantial risk of
                  forfeiture.

              

      

      

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      An
        election to defer Compensation after the 30-day period described above may
        be
        filed no later than a date that is twelve (12) months prior to the date on
        which
        such award or portion thereof is no longer subject to a substantial risk
        of
        forfeiture (the “vesting date”), provided that the payment under the
        Compensation Deferral Agreement occurs no earlier than five (5) years after
        the
        vesting date.

      

      
        	 	
                g.

              	
                2005
                  Elections.
                  The Plan Administrator has the authority, effective January 1,
                  2005 to
                  allow any or all Participants to make or modify a Compensation
                  Deferral
                  Agreement with respect to deferrals subject to Code Section 409A,
                  which
                  relate all or in part to services performed prior to December 31,
                  2005.
                  Such election or modification must be filed with the Plan Administrator
                  no
                  later than March 15, 2005.

              

      

      

      
        	
                4.3

              	
                Amount
                  of Deferral.
                  The deferral election under a Compensation Deferral Agreement shall
                  designate a dollar amount or whole percentage of Compensation to
                  be
                  deferred. The Plan Administrator may establish a minimum or maximum
                  deferral amount for each component of Compensation and may permit
                  separate
                  elections for each component of Compensation.

              

      

      

      
        	
                4.4

              	
                Changes
                  To A Deferral Election.

              

      

      

      
        	 	
                a.

              	
                Reductions
                  for Withholding.
                  A
                  Participant’s Deferral Election may be reduced by such amount as is
                  necessary to enable the Company to satisfy any tax withholding
                  and payroll
                  deduction obligations of the Participant and the Company as are
                  required
                  by law, the requirements of any benefit programs sponsored by the
                  Company
                  and Company procedures. Such reductions shall not be required if
                  the
                  Participant makes alternative arrangements with the Company for
                  payment of
                  such amounts.

              

      

      

      
        	 	
                b.

              	
                Participant’s
                  Right to Modify or Revoke.
                  An election to defer Compensation described in Section 4.2b. may
                  be
                  modified or revoked no later than the day preceding the first day
                  of the
                  calendar year to which such election applies. An election to defer
                  Performance-Based Compensation may be modified or revoked no later
                  than
                  the last day a deferral election may be filed under Section 4.2c
                  with
                  respect to such Compensation. Notwithstanding the foregoing, a
                  Participant
                  may revoke an election as provided in Section 4.4c and Section
                  4.5e.
                  Modifications and revocations must be submitted during such times
                  as are
                  specified by the Plan
                  Administrator.

              

      

      

      
        	 	
                c.

              	
                Unforeseeable
                  Emergency.
                  A
                  Participant may revoke an election to defer Compensation during
                  the
                  calendar year in which such Compensation is earned (or, in the
                  case of
                  Performance-Based Compensation, after the deadline specified in
                  the
                  enrollment materials) in the case of (a) an Unforeseeable Emergency
                  or (b)
                  a hardship distribution to the Participant described in Treas.
                  Reg.
                  Section 1.401(k)-1(d)(3).

              

      

      

      
        	
                4.5

              	
                Payment
                  Dates and Payment Schedules.
                  

              

      

      

      
        	 	
                a.

              	
                Separation
                  Payments.
                  A
                  Participant’s Compensation Deferral Agreement may designate one or more
                  Payment Dates for payment of Deferrals after Separation from Service.
                  The
                  Plan Administrator shall create a Separation Account for each such
                  Payment
                  Date, to be credited with the portion of Deferrals allocated to
                  such
                  Separation Account. A Participant may maintain up to six Separation
                  Accounts.

              

      

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      In
        the
        case of an Employee who incurs a Separation from Service prior to the date
        the
        Participant attains age 55, all Separation Accounts will be paid as of the
        Payment Date specified in Section 2.23b in the form of a single lump
        sum.

      

      In
        the
        case of (i) the Separation from Service of a Director Participant or (ii)
        the
        Separation from Service of an Employee Participant on or after such Employee
        attains age 55, payment will be made as of the Payment Date and under the
        Payment Schedule designated by the Participant. The Participant may designate
        the Payment Date and Payment Schedule for a Separation Account no later than
        the
        applicable submission deadline described in Section 4.2 for the Compensation
        Deferral Agreement that establishes such Separation Account. If no Payment
        Date
        is specified, the Payment Date is the date specified in Section 2.23a. If
        no
        Payment Schedule is specified, payment shall be made in a single lump
        sum.

      

      Deferrals
        that are not allocated to a Separation Account under the terms of a Deferred
        Compensation Agreement will be allocated to the Separation Account with the
        earliest Payment Date. If a Participant has more than one Separation Account
        with the same Payment Date, the allocation will be made to the Separation
        Account with the shortest Payment Schedule. The determination of the Payment
        Date and Payment Schedules for purposes of this paragraph shall be determined
        at
        the time the Compensation Deferral Agreement authorizing the Deferral was
        filed
        with the Plan Administrator. If a Separation Account has not been established,
        the Administrator shall establish a Separation Account payable as of the
        Payment
        Date specified in 2.23 and payable in a single lump sum.

      

      
        	 	
                b.

              	
                Modification
                  to Payment Date and/or Payment Schedule.
                  The Participant may modify a Payment Date and/or a Payment Schedule
                  for a
                  Separation Account as follows:

              

      

      

      
        	 	
                i.

              	
                An
                  existing Payment Date and/or Payment Schedule may be changed so
                  long as
                  (i) the election may not take effect until at least twelve (12)
                  months
                  after the date on which the election is made, (ii) the date that
                  such
                  election is submitted to the Plan Administrator is at least twelve
                  (12)
                  months prior to the current Payment Date, and (iii) the Payment
                  Date after
                  modification is at least five (5) years after the current Payment
                  Date.

              

      

      

      
        	 	
                ii.

              	
                A
                  modification that does not conform to the requirements of this
                  paragraph
                  b. shall be deemed not to have been made and will be disregarded
                  by the
                  Plan Administrator. In such a case, the Plan Administrator will
                  pay
                  benefits as of the Payment Date and under the Payment Schedule
                  in effect
                  prior to the nonconforming
                  modification.

              

      

      

      
        	 	
                iii.

              	
                An
                  election to change a Payment Date and/or a Payment Schedule is
                  specific to
                  the Account to which it refers, and shall not affect other Accounts
                  or the
                  ability of the Participant to designate new Payment Dates and Payment
                  Schedules with respect to future
                  Deferrals.

              

      

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      
        	 	
                iv.

              	
                The
                  modification of a Payment Date shall be further subject to the
                  requirements of Code Section 409A.

              

      

      

      
        	 	
                c.

              	
                2005
                  and 2006 Modifications to Payment Elections.
                  During 2005 and 2006, the Plan Administrator may, in its discretion,
                  permit Participants to establish Separation Accounts, to designate
                  a
                  Payment Date and Payment Schedule for each such Separation Account
                  and to
                  allocate existing Account balances among such Separation Accounts.
                  Participants may also be permitted to modify any Payment Date and/or
                  Payment Schedule associated with a Separation Account. Elections
                  may be
                  filed with the Plan Administrator pursuant to this paragraph without
                  regard to (i) the requirements in paragraph b., above and (ii)
                  the
                  prohibition on acceleration of payments under Code Section
                  409A.

              

      

      

      Modification
        elections filed pursuant to this paragraph c. shall be subject to the following
        rules. A modification to a Payment Date scheduled in 2005 or 2006 must be
        filed
        prior to the scheduled Payment Date and no later than December 31, 2005.
        A
        modification to a Payment Date scheduled in 2007 or later must be filed no
        later
        than December 31, 2006. A modification filed on or after January 1, 2006
        may not
        accelerate a payment from a later year into 2006. Subject to the foregoing
        limitations, the Plan Administrator has the authority to prescribe the time,
        manner and scope of any election to modify a Payment Date or Payment Schedule
        under the terms of this paragraph.

      

      
        	 	
                d.

              	
                Company’s
                  Right to Modify.
                  The Plan Administrator may modify a Payment Schedule election as
                  necessary
                  (and only as necessary) to conform the Payment Schedule to applicable
                  law.

              

      

      

      Article
        V

      Company
        Contributions

      

      

      
        	
                5.1

              	
                Company
                  Awards.
                  The HR Committee of the Board of Directors may, in its sole and
                  absolute
                  discretion, authorize Company Awards to one, some, or all of the
                  Participant(s) in an amount determined in the sole and absolute
                  discretion
                  of the Committee. A Company Award may be made at any time during
                  the
                  calendar year and may consist of “matching” contributions. The HR
                  Committee of the Board of Directors shall be under no obligation
                  to make
                  contributions to the Plan unless the Company has entered into a
                  separate
                  agreement (such as an employment agreement) to make such contributions.
                  The Plan Administrator also may establish a matching contribution
                  by
                  attaching a Schedule to this Plan
                  document.

              

      

      

      
        	
                5.2

              	
                Vesting.
                  Company Awards shall vest in accordance with the vesting schedule(s)
                  established by the Plan Administrator at the time that the Company
                  Award
                  is made. The unvested portion shall be forfeited upon Separation
                  from
                  Service. The Committee may, at any time, in its sole discretion,
                  increase
                  a Participant’s vested interest in a Company Award or restore any
                  forfeiture.

              

      

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

      Article
        VI

      Valuation
        of Accounts

      

      
        	
                6.1

              	
                Valuation.
                  A
                  Participant’s Accounts shall be valued on each Business Day as
                  follows:

              

      

      

      a.     Deferrals
        of annual incentive awards (and any related matching contributions specified
        on
        Schedule A) shall be credited to the applicable Participant Accounts and
        converted to Units as of the January 1 following the year in which services
        were
        performed. Deferrals pertaining to forms of Compensation other than annual
        incentive awards shall be credited to the applicable Participant’s Accounts as
        of the day such Compensation otherwise would have been paid and shall be
        converted to Units as of such date. Dividends shall be credited to the
        applicable Participant Accounts as of the payment date for Company
        dividends.

      

      b.     Amounts
        credited to a Participant’s Account shall be converted to Units. In the case of
        annual incentive awards and any related matching contributions, the number
        of
        Units shall be determined by dividing the amount credited to the Participant’s
        account on such day by the closing price of one share of Company Stock indicated
        in the New York Stock Exchange Composite Listing as of the preceding Business
        Day. For all other Deferrals, Units shall be determined using the closing
        price
        on the same day on which the Deferral is credited to the Participant’s
        Accounts.

      

      c.     The
        number of Units shall be reduced to reflect payments and any forfeitures
        from
        the applicable Participant Account(s) on such day.

      

      d.     After
        the
        adjustments described in a. through c. above, a Participant’s Accounts will be
        adjusted as of the close of business on such day and each subsequent Business
        Day to reflect the total value of Units credited to such Accounts. The value
        of
        each such Account shall be determined by multiplying the total number of
        Units
        and fractions thereof credited to each Account by the closing price of one
        share
        of Company Stock indicated in the New York Stock Exchange Composite Listing
        as
        of each Business Day.

      

      
        	
                6.2

              	
                Notional
                  Investments.
                  Notwithstanding anything in this section to the contrary, the Plan
                  Administrator shall have the sole and exclusive authority to direct
                  the
                  investment of any or all amounts deferred in any manner. An investment
                  in
                  Units shall be used solely for purposes of determining the value
                  of such
                  Participant’s Account Balances and the amount of the corresponding
                  liability of the Company in accordance with this Plan and shall
                  not
                  require the Company to acquire or hold Company
                  Stock.

              

      

      

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

      Article
        VII

      Distribution
        and Withdrawals

      

      

      
        	
                7.1

              	
                Separation
                  Accounts.

              

      

      

      
        	 	
                a.

              	
                Form
                  of Payment. In
                  the event that a Participant Separates from Service, any Separation
                  Account will be paid to such Participant in accordance with the
                  Payment
                  Schedule in effect for each such Account. In the event a Participant
                  has
                  elected installment payments, the installment payments shall be
                  determined
                  as set forth in Section 7.3 of the
                  Plan.

              

      

      

      
        	 	
                b.

              	
                Payment
                  in Company Stock.
                  All benefits payable to a Participant or Beneficiary under the
                  Plan shall
                  be paid in Company Stock, with one share distributed for each Unit
                  credited pursuant to Section 6.2. All fractional shares shall be
                  valued as
                  of the payment date and paid in
                  cash.

              

      

      

      
        	 	
                c.

              	
                Notwithstanding
                  a Participant’s election to receive a Separation Account as of a specified
                  year, all Separation Account Balances shall be distributed upon
                  Separation
                  from Service under the provisions of Section 2.23(b) in a single
                  lump
                  sum.

              

      

      

      7.2   Installment
        Payments.
        Installment payments will be made as of the applicable Payment Date and each
        anniversary thereof. For payments described in Section 2.23(d)(2), payments
        will
        be made by the August 15 payment date and each anniversary thereof. The amount
        of an installment payment is determined by the number of Units held in the
        Account as of the Business Day preceding the payment date (or anniversary
        thereof) divided by the remaining number of installments under the Payment
        Schedule.

      

      
        	
                7.3

              	
                Small
                  Account Balance Lump Sum Payment.
                  Anything to the contrary in this Plan notwithstanding, in the event
                  that a
                  Participant’s Deferred Compensation Account Balance is less than $25,000
                  on the January 1 following the year in which the Participant Separates
                  from Service, the Participant’s Accounts shall be paid in a single lump
                  sum in such following year at the time specified in Section 2.23d
                  and any
                  form of payment election to the contrary shall be null and
                  void.

              

      

      

      
        	
                7.4

              	
                Death
                  Distribution.
                  In the event of a Participant’s death, the Participant’s Beneficiary shall
                  be paid a Death Distribution as specified in Section 2.23c and
                  under the
                  Payment Schedule in effect for each of the Participant’s
                  Accounts.

              

      

      

      
        	
                7.5

              	
                Unforeseeable
                  Emergency.
                  A
                  Participant may request, in writing to the Plan Administrator,
                  a
                  withdrawal from his or her Accounts if the Participant experiences
                  an
                  Unforeseeable Emergency. Withdrawals of amounts because of an
                  Unforeseeable Emergency are limited to the extent reasonably needed
                  to
                  satisfy the emergency need, which cannot be met with other resources
                  of
                  the Participant. The amount of such withdrawal shall be subtracted
                  first
                  from the vested portion of the Account with the latest Payment
                  Date at the
                  time of the withdrawal request and then from the Account with the
                  next
                  latest Payment Date until the withdrawal is completed. Values for
                  purposes
                  of determining the source of the withdrawal under this
                  

              

      

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

      Section
        shall be determined on the date the Plan Administrator approves the amount
        of
        the Unforeseeable Emergency withdrawal, or such other date determined by
        the
        Plan Administrator. A withdrawal under this Section 7.7 by a Participant
        who is
        a “16b Officer” or Director must be approved by the HR Committee of the Board of
        Directors.

      

      
        	
                7.6

              	
                Domestic
                  Relations Order.
                  Notwithstanding the Payment Dates and Payment Schedules selected
                  by a
                  Participant with respect to his or her Accounts and any other provision
                  of
                  this Plan, the Plan Administrator is authorized to divide such
                  Participant’s Accounts with and distribute a portion of such Participant’s
                  Accounts to one or more “alternate payees” at the time and in the manner
                  specified in a court order described in Section 414(p)(1)(B) of
                  the
                  Code.

              

      

      

      
        	
                7.7

              	
                Permitted
                  Delays.
                  Notwithstanding the foregoing, the Company shall delay any payment
                  to a
                  Participant under the Plan upon the Plan Administrator’s reasonable
                  anticipation of one or more of the following events:
                  

              

      

      

      
        	 	
                a.

              	
                The
                  Company’s deduction with respect to such payment otherwise would be
                  limited or eliminated by application of Code Section
                  162(m);

              

      

      

      
        	 	
                b.

              	
                The
                  making of the payment would violate a term of a loan agreement
                  to which
                  the Company or one of its subsidiaries is a party, or other similar
                  contract to which the Company or one of its subsidiaries is a party,
                  and
                  such violation would cause material harm to the Company or one
                  of its
                  subsidiaries; or 

              

      

      

      
        	 	
                c.

              	
                The
                  making of the payment would violate Federal securities laws or
                  other
                  applicable law;

              

      

      

      provided,
        that any payment subject to this Section 7.9 shall be paid in accordance
        with
        Code Section 409A.

      

      Article
        VIII

      Administration

      

      

      
        	
                8.1

              	
                Plan
                  Administration.
                  This Plan shall be administered by the Plan Administrator, which
                  shall
                  have discretionary authority to make, amend, interpret and enforce
                  all
                  appropriate rules and regulations for the administration of this
                  Plan and
                  to utilize its discretion to decide or resolve any and all questions,
                  including but not limited to eligibility for benefits and interpretations
                  of this Plan and its terms, as may arise in connection with the
                  Plan.
                  Claims for benefits shall be filed with the Plan Administrator
                  and
                  resolved in accordance with the claims procedures in Article
                  XI.

              

      

      

      
        	
                8.2

              	
                Withholding.
                  The Company shall have the right to withhold from any payment made
                  under
                  the Plan (or any amount deferred into the Plan) any taxes required
                  by law
                  to be withheld in respect of such payment (or
                  deferral).

              

      

      

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

      
        	
                8.3

              	
                Indemnification.
                  The Company shall indemnify and hold harmless each employee, officer,
                  or
                  director to whom or to which it delegated duties, responsibilities,
                  and
                  authority under the Plan or otherwise with respect to administration
                  of
                  the Plan, including, without limitation, the Plan Administrator,
                  the
                  Committee and their agents against all claims, liabilities, fines
                  and
                  penalties, and all expenses reasonably incurred by or imposed upon
                  him or
                  it (including but not limited to reasonable attorney fees) which
                  arise as
                  a result of his or its actions or failure to act in connection
                  with the
                  operation and administration of the Plan to the extent lawfully
                  allowable
                  and to the extent that such claim, liability, fine, penalty, or
                  expense is
                  not paid for by liability insurance purchased or paid for by the
                  Company.

              

      

      

      
        	
                8.4

              	
                Expenses.
                  The expenses of administering the Plan shall be paid by the Company.
                  Notwithstanding the foregoing, the Committee may indirectly allocate
                  expenses, in its discretion, to Participants through a reduction
                  to any or
                  all Participant Accounts.

              

      

      

      
        	
                8.5

              	
                Delegation
                  of Authority.
                  In the administration of this Plan, the Plan Administrator may,
                  from time
                  to time, employ agents and delegate to them such administrative
                  duties as
                  it sees fit, and may from time to time consult with legal counsel
                  who may
                  be legal counsel to the Company.

              

      

      

      
        	
                8.6

              	
                Binding
                  Decisions or Actions.
                  The decision or action of the Plan Administrator in respect of
                  any
                  question arising out of or in connection with the administration,
                  interpretation and application of the Plan and the rules and regulations
                  thereunder shall be final and conclusive and binding upon all persons
                  having any interest in the Plan.

              

      

      

      Article
        IX

      Amendment
        and Termination

      

      

      
        	
                9.1

              	
                Amendment
                  and Termination.
                  The Plan is intended to be permanent, but the HR Committee of the
                  Board of
                  Directors of the Company may at any time modify, amend, or terminate
                  the
                  Plan, provided that such modification, amendment or termination
                  shall not
                  cancel, reduce, or otherwise adversely affect the amount of benefits
                  of
                  any Participant accrued (and any form of payment elected) as of
                  the date
                  of any such modification, amendment, or termination, without the
                  consent
                  of the Participant. A termination of the Plan shall not, by itself,
                  result
                  in payments to Participants under the Plan, except to the extent
                  permitted
                  under Code Section 409A. Unless distributions are otherwise permissible
                  under such regulations, payments to Participants shall be made
                  at the
                  times specified in a Participant’s Compensation Deferral Agreements and
                  the terms of the Plan applicable to such Agreements prior to the
                  Plan’s
                  termination.

              

      

      

      
        	
                9.2

              	
                Adverse
                  Income Tax Determination.
                  Notwithstanding anything to the contrary in the Plan, if any Participant
                  receives a deficiency notice from the United States Internal Revenue
                  Service asserting constructive receipt of deferrals under the Plan,
                  Company Awards, and/or the investment earnings attributed thereto
                  due to
                  any Participant withdrawal right or other Plan provision, the Plan
                  Administrator, in its sole discretion, may declare null and void
                  any Plan
                  provision with respect to affected Participants that causes such
                  Participant to be in constructive receipt of income. If the laws
                  of the
                  United 

              

      

      
        
          
          

        

        
          16

          
            

          

        

        
          
          

        

      

      States
        or
        of any relevant state are amended or construed in such a way as to make this
        Plan (or its intended deferral of compensation and taxes) in whole or in
        part
        void, then the Plan Administrator, in its sole discretion, may give effect
        to
        the Plan in such a manner as it deems will best carry out the purposes and
        intentions of this Plan. Nothing in this Section 9.2 shall be construed to
        limit
        the Plan Administrator or Company’s authority under applicable law to take any
        such action as may be necessary to accomplish the objective of the Plan to
        defer
        the recognition of compensation for the purpose of the taxation of
        income.

      

      Notwithstanding
        any other provision of this Plan document or the provisions of any Compensation
        Deferral Agreement, a Participant will receive a distribution from the Plan
        in a
        single lump sum equal to the amount required to be included in income as
        a
        result of a violation of the terms and conditions of Code Section 409A and
        the
        Treasury Department Regulations promulgated thereunder.

      

      Article
        X

      Informal
        Funding

      

      

      
        	
                10.1

              	
                General
                  Assets.
                  All benefits in respect of a Participant under this Plan shall
                  be paid
                  directly from the general funds of the Company or a Rabbi Trust
                  created
                  for the purpose of informally funding the Plan, and other than
                  such Rabbi
                  Trust, if created, no special or separate fund shall be established
                  and no
                  other segregation of assets shall be made to assure payment. No
                  Participant, spouse or Beneficiary shall have any right, title
                  or interest
                  whatever in or to any investments that the Company or its subsidiaries
                  may
                  make to aid the Company in meeting its obligation hereunder. Nothing
                  contained in this Plan, and no action taken pursuant to its provisions,
                  shall create or be construed to create a trust of any kind, or
                  a fiduciary
                  relationship, between the Company, or any if its subsidiaries or
                  affiliated companies and any Employee, Director, spouse, or Beneficiary.
                  To the extent that any person acquires a right to receive payments
                  from
                  the Company hereunder, such rights are no greater than the right
                  of an
                  unsecured general creditor of the
                  Company.

              

      

      

      
        	
                10.2

              	
                Rabbi
                  Trust.
                  The Company may, at its sole discretion, establish a grantor trust,
                  commonly known as a Rabbi Trust, as a vehicle for accumulating
                  the assets
                  needed to pay the promised benefit, but the Company shall be under
                  no
                  obligation to establish any such trust or any other informal funding
                  vehicle.

              

      

      

      Article
        XI

      Claims

      

      

      
        	
                11.1

              	
                Filing
                  a Claim.
                  Any controversy or claim arising out of or relating to the Plan
                  shall be
                  filed with the Plan Administrator which shall make all determinations
                  concerning such claim. Any decision by the Plan Administrator denying
                  such
                  claim shall be in writing and shall be delivered to the Participant
                  or
                  Beneficiary filing the claim (‘Claimant’).

              

      

      
        
          
          

        

        
          17

          
            

          

        

        
          
          

        

      

      
        	 	
                a.

              	
                In
                  General.
                  Notice of a denial of benefits will be provided within 90 days
                  of the Plan
                  Administrator’s receipt of the Claimant's claim for benefits. If the Plan
                  Administrator determines that it needs additional time to review
                  the
                  claim, the Plan Administrator will provide the Claimant with a
                  notice of
                  the extension before the end of the initial 90-day period. The
                  extension
                  will not be more than 90 days from the end of the initial 90-day
                  period
                  and the notice of extension will explain the special circumstances
                  that
                  require the extension and the date by which the Plan Administrator
                  expects
                  to make a decision.

              

      

      

      
        	 	
                b.

              	
                Contents
                  of Notice.
                  If a claim for benefits is completely or partially denied, notice
                  of such
                  denial shall be in writing and shall set forth the reasons for
                  denial in
                  plain language. The notice shall (1) cite the pertinent provisions
                  of the
                  Plan document and (2) explain, where appropriate, how the Claimant
                  can
                  perfect the claim, including a description of any additional material
                  or
                  information necessary to complete the claim and why such material
                  or
                  information is necessary. The claim denial also shall include an
                  explanation of the claims 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
                  decision
                  on review.

              

      

      

      
        	
                11.2

              	
                Appeal
                  of Denied Claims.
                  An Employee Claimant whose claim has been completely or partially
                  denied
                  shall be entitled to appeal the claim denial by filing a written
                  appeal
                  with the HR Committee. An Employee Claimant who timely requests
                  a review
                  of the denied claim (or his or her authorized representative) may
                  review,
                  upon request and free of charge, copies of all documents, records
                  and
                  other information relevant to the denial and may submit written
                  comments,
                  documents, records and other information relevant to the claim
                  to the HR
                  Committee. All written comments, documents, records, and other
                  information
                  shall be considered “relevant” if the information (1) was relied upon in
                  making a benefits determination, (2) was submitted, considered
                  or
                  generated in the course of making a benefits decision regardless
                  of
                  whether it was relied upon to make the decision, or (3) demonstrates
                  compliance with administrative processes and safeguards established
                  for
                  making benefit decisions. The HR Committee may, in its sole discretion
                  and
                  if it deems appropriate or necessary, decide to hold a hearing
                  with
                  respect to the claim appeal.

              

      

      

      
        	 	
                a.

              	
                In
                  General.
                  Appeal of a denied benefits claim must be filed in writing with
                  the HR
                  Committee no later than sixty (60) days after receipt of the written
                  notification of such claim denial. The HR Committee shall make
                  its
                  decision regarding the merits of the denied claim within sixty
                  (60) days
                  following receipt of the appeal (or within one hundred and twenty
                  (120)
                  days after such receipt, in a case where there are special circumstances
                  requiring extension of time for reviewing the appealed claim).
                  If an
                  extension of time for reviewing the appeal is required because
                  of special
                  circumstances, written notice of the extension shall be furnished
                  to the
                  Claimant prior to the commencement of the extension. The notice
                  will
                  indicate the special circumstances requiring the extension of time
                  and the
                  date by which the HR Committee expects to render the determination
                  on
                  review. The review will take into account comments, documents,
                  records and
                  other information submitted by the Claimant relating to the claim
                  without
                  regard to whether such information was submitted or considered
                  in the
                  initial benefit determination.

              

      

      
        
          
          

        

        
          18

          
            

          

        

        
          
          

        

      

      
        	 	
                b.

              	
                Contents
                  of Notice.
                  If a benefits claim is completely or partially denied on review,
                  notice of
                  such denial shall be in writing and shall set forth the reasons
                  for denial
                  in plain language. 

              

      

      

      
        	 	
                i.

              	
                The
                  decision on review shall set forth (a) the specific reason or reasons
                  for
                  the denial, (b) specific references to the pertinent Plan provisions
                  on
                  which the denial 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 documents, records, or other information relevant
                  (as
                  defined above) to the Claimant’s claim, and (d) a statement describing any
                  voluntary appeal procedures offered by the plan and a statement
                  of the
                  Claimant’s right to bring an action under Section 502(a) of
                  ERISA.

              

      

      

      
        	
                11.3

              	
                Legal
                  Action.
                  A
                  Claimant may not bring any legal action relating to a claim for
                  benefits
                  under the Plan unless and until the Claimant has followed the claims
                  procedures under the Plan and exhausted his or her administrative
                  remedies
                  under such claims procedures.

              

      

      

      
        	
                11.4

              	
                Discretion
                  of Committee.
                  All interpretations, determinations and decisions of the Committee
                  with
                  respect to any claim shall be made in its sole discretion, and
                  shall be
                  final and conclusive.

              

      

      

      
        	
                11.5

              	
                Administration
                  Upon Change in Control.

              

      

      

      Committee.
        For
        purposes of this Plan, the Committee shall be the Plan Administrator at all
        times prior to the occurrence of a Change in Control. Upon and after the
        occurrence of a Change in Control, the Plan Administrator shall be an
        independent third party selected by the individual who, immediately prior
        to
        such event, was the Company’s CEO or, if not so identified, the Company’s
        highest ranking officer (the “Ex-CEO”); provided, however, the Committee, as
        constituted immediately prior to a Change in Control, shall continue to act
        as
        the Plan Administrator of this Plan until the date on which the independent
        third party selected by the CEO accepts the responsibilities of Plan
        Administrator under this Plan. Upon and after a Change in Control, the Plan
        Administrator shall have the discretionary power to determine all questions
        arising in connection with the administration of the Plan and the interpretation
        of the Plan and Trust except benefit entitlement determinations upon appeal;
        provided, however, upon and after the occurrence of a Change in Control,
        the
        Plan Administrator shall have no power to direct the investment of Plan or
        Trust
        assets or select any investment manager or custodial firm for the Plan or
        Trust.
        Upon and after the occurrence of a Change in Control, the Company must: (1)
        pay
        all reasonable administrative expenses and fees of the Plan Administrator;
        (2)
        indemnify the Plan Administrator against any costs, expenses and liabilities
        including, without limitation, attorney’s fees and expenses arising in
        connection with the performance of the Plan Administrator hereunder, except
        with
        respect to matters resulting from the gross negligence or willful misconduct
        of
        the Plan Administrator or its employees or agents; and (3) supply full and
        timely information to the Plan Administrator on all matters relating to the
        Plan, the Trust, the Participants and their Beneficiaries, the Account Balances
        of the Participants, the date and circumstances of the death or Separation
        from Service
        of the
        Participants, and such other pertinent information as the Plan Administrator
        may
        reasonably require. Upon and after a Change 

      
        
          
          

        

        
          19

          
            

          

        

        
          
          

        

      

      in
        Control, the Plan Administrator may only be terminated (and a replacement
        appointed) by the Ex-CEO or, if not so identified, the Company’s highest ranking
        officer prior to the Change in Control. Upon and after a Change in Control,
        the
        Plan Administrator may not be terminated by the Company.

      

      Benefit
        Review Committee.
        Upon
        and after the occurrence of a Change in Control, the HR Committee, as
        constituted immediately prior to a Change in Control, shall continue to review
        denied claims as provided in Article 14 of this Plan. In the event any member
        of
        the HR Committee resigns or is unable to perform the duties of a member of
        the
        HR Committee, successors to such members shall be selected by the Ex-CEO.
        Upon
        and after a Change in Control, the Benefits Review Committee shall have the
        discretionary power and authority to determine all questions arising in
        connection with the review of a denied claim as provided in Section 11.2.
        Upon
        and after the occurrence of a Change in Control, the Company must: (1) pay
        all
        reasonable administrative expenses and fees of the HR Committee; (2) indemnify
        the HR Committee against any costs, expenses and liabilities including, without
        limitation, attorney’s fees and expenses arising in connection with the
        performance of the HR Committee hereunder, except with respect to matters
        resulting from the gross negligence or willful misconduct of the HR Committee
        or
        its employees or agents; and (3) supply full and timely information to the
        HR
        Committee on all matters relating to the Plan, the Trust, the Participants
        and
        their Beneficiaries, the Account Balances of the Participants, the date and
        circumstances of the death or Separation
        from Service
        of the
        Participants, and such other pertinent information as the HR Committee may
        reasonably require. Upon and after a Change in Control, a member of the HR
        Committee may not be removed by the Company but may only be removed (and
        a
        replacement appointed) by the Ex-CEO.

      

      Article
        XII

      General
        Conditions

      

      

      
        	
                12.1

              	
                Anti-assignment
                  Rule.
                  No interest of any Participant, spouse or Beneficiary under this
                  Plan and
                  no benefit payable hereunder shall be assigned as security for
                  a loan, and
                  any such purported assignment shall be null, void and of no effect,
                  nor
                  shall any such interest or any such benefit be subject in any manner,
                  either voluntarily or involuntarily, to anticipation, sale, transfer,
                  assignment or encumbrance by or through any Participant, spouse
                  or
                  Beneficiary.

              

      

      

      
        	
                12.2

              	
                No
                  Legal or Equitable Rights or Interest.
                  No Participant or other person shall have any legal or equitable
                  rights or
                  interest in this Plan that are not expressly granted in this Plan.
                  Participation in this Plan does not give any person any right to
                  be
                  retained in the service of the Company or any of its subsidiaries
                  or
                  affiliated companies. The right and power of the Company or its
                  subsidiaries to dismiss or discharge an Employee is expressly reserved.
                  Notwithstanding the provisions of Section 9.2, the Company makes
                  no
                  representations or warranties as to the tax consequences to a Participant
                  or a Participant’s beneficiaries resulting from a deferral of income
                  pursuant to the Plan or that the Plan complies in form or operation
                  with
                  Section 409A of the Code and regulations issued
                  thereunder.

              

      

      
        
          
          

        

        
          20

          
            

          

        

        
          
          

        

      

      
        	
                12.3

              	
                No
                  Employment Contract.
                  Nothing contained herein shall be construed to constitute a contract
                  of
                  employment between an Employee and the Company or any of its subsidiaries
                  or affiliated companies.

              

      

      

      
        	
                12.4

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

              

      

      

      
        	
                12.5

              	
                Invalid
                  or Unenforceable Provisions.
                  If any provision of this Plan shall be held invalid or unenforceable,
                  such
                  invalidity or unenforceability shall not affect any other provisions
                  hereof and the Plan Administrator may elect in its sole discretion
                  to
                  construe such invalid or unenforceable provisions in a manner that
                  conforms to applicable law or as if such provisions, to the extent
                  invalid
                  or unenforceable, had not been
                  included.

              

      

      

      
        	
                12.6

              	
                Governing
                  Law.
                  To the extent not preempted by ERISA, the laws of the State of
                  Indiana
                  shall govern the construction and administration of the
                  Plan.

              

      

      

      

      

      

      IN
        WITNESS WHEREOF, the undersigned executed this Plan as of the
        ___ day
        of _________, 2005 to be effective as of the Effective
        Date.

      

      

      Ball
        Corporation

      

      

      By: __________________________________________

      

      Its: __________________________________________

      

      
        
          
          

        

        
          21

          
            

          

        

        
          
          

        

      

      
        

Schedule
        A

      

      Company
        Matching Contributions

      

      Until
        modified by the HR Committee of the Board of Directors, Company Award includes
        Company matching contributions. Such contributions shall be an additional
        credit
        to a Participant’s Accounts, which shall equal twenty percent (20%) of Deferrals
        credited to an Account during a calendar year. The maximum Company Matching
        Contribution credited to a Participant’s Deferred Compensation Account in a
        calendar year shall be $20,000.

       

       

       

      
        
          
            
            

          

          
            22

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