Document:

EXHIBIT 10.1

                         AGREEMENT FOR RESEARCH SERVICES

THIS CONTRACT, effective this 1st day of February, 2006, entered into by and
between Pressure BioSciences, Inc., 321 Manley Street, West Bridgewater, MA
02379 (hereinafter referred to as "SPONSOR") and the UNIVERSITY OF NEW
HAMPSHIRE, a non-profit educational institution incorporated under the laws of
the State of New Hampshire (hereinafter referred to as "UNH").

                                   WITNESSETH:

WHEREAS, the Project contemplated by this CONTRACT is of mutual interest and
benefit to UNH and SPONSOR, and will further the instructional, research and
public service mission of UNH in a manner consistent with its status as a
non-profit, tax-exempt, institution of higher education, and may derive benefits
for both SPONSOR and UNH

NOW, THEREFORE, in consideration of the premises and mutual covenants herein
contained, the parties hereto agree to the following:

Article 1 - Definitions

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

1.1      "Project" will mean the description of the project as described in
Appendix A which is incorporated and made part of this CONTRACT, under the
direction of Dr. Thomas Moody, hereinafter referred to as Principal
Investigator.

1.2      "Period of Performance" will mean the period commencing on February 1,
2006 and ending on December 31, 2006.

1.3      "Intellectual Property" means inventions and/or discoveries conceived
and/or made in performance of this Project and resulting patents, divisions,
continuations, or substitutions of such applications and all reissues thereof,
upon which a UNH employee or agent is a named inventor.

1.4      "Proprietary Information" means any written information and data marked
proprietary, or non-written information and data disclosed which is identified
at the time of disclosure as proprietary and is reduced to writing and
transmitted to the other party within thirty (30) days of such non-written
disclosure.

Article 2 - Project Work

2.1      UNH will commence work on the Project no sooner than the first day of
the Period of Performance and will use reasonable best efforts to perform such
Project substantially in accordance with the terms and conditions of this
CONTRACT. Anything in this CONTRACT to the contrary notwithstanding, SPONSOR and
UNH may at any time amend Project by mutual written agreement.

2.2      In the event that the Principal Investigator becomes unavailable to
continue Project, and a mutually acceptable substitute is not available, UNH
and/or SPONSOR will have the option to terminate said Project pursuant to
Article 9.

                                       1
<PAGE>

Article 3 - Fiscal Considerations

3.1      In consideration of the Project to be performed, total expense to
SPONSOR will be the sum of $157,850, hereinafter referred to as "Cost" (Appendix
B). During the Period of Performance, the Principal Investigator will have the
flexibility to re-budget the Costs within a cumulative amount not to exceed 5
percent of the total project Costs. The prior approval of the SPONSOR will be
required if the cumulative amount of re-budgeted Costs exceeds the 5 percent
threshold.

3.2      Payments to UNH by SPONSOR will be made upon receipt of a monthly
invoice. The invoice will reflect actual costs incurred by major budget
category. SPONSOR will be assessed a 1.5% late payment penalty for any payments
more than 30 days past due. For the duration of this CONTRACT, SPONSOR will
select one of the two payment methods itemized below by checking the appropriate
box. For purposes of identification, each wire or check will reference the
Project Title, Project ID and name of UNH Principal Investigator.

A.        [ ]     Either domestic wire transfer to:
                            Citizen's Bank,
                            One Riverside Drive,
                            Riverside RI 02915
                            Account # 330007829
                            ABA # (for wires) 115001203
                            ABA # (for ACH) 011401533

B.       X[ ]X    Or by check made payable to:
                            The University of New Hampshire,
                            The Office of Sponsored Research
                            Service Building, 51 College Road
                            Durham, NH 03824-3585

3.3      The parties estimate that the specified Cost is sufficient to support
the Project as outlined in Appendix A. UNH may submit to SPONSOR a revised
budget requesting additional funds if expenses may reasonably be projected to
exceed the Cost. SPONSOR will not be liable for any payment in excess of the
Cost except upon SPONSOR's written consent.

3.4      In the event of early termination of this CONTRACT pursuant to Article
9 hereof, SPONSOR will pay all reasonable costs and non-cancelable obligations
incurred by UNH as of the date of termination.

Article 4 - Equipment

4.       Any equipment acquired under this CONTRACT will be owned by UNH.

Article 5 - Reports and Conferences

5.1      On behalf of UNH, the Principal Investigator will submit a final report
to SPONSOR within ninety (90) days of the conclusion of the Period of
Performance, or early termination of this CONTRACT.

5.2      For as long as this CONTRACT remains in effect, representatives of
SPONSOR may meet with representatives of UNH at times and places mutually agreed
upon to discuss the progress and results, as well as ongoing plans, or changes
therein, of Project to be performed hereunder.

Article 6 - Proprietary Information Transfers

6.1      During the term of this CONTRACT, the parties hereto may exchange
Proprietary Information. Proprietary Information from SPONSOR must be sent to
the Principal Investigator only, who will have primary responsibility for
maintaining SPONSOR's Proprietary Information. Each party agrees to treat
Proprietary Information received from the other with the same degree of secrecy
with which it treats its own Proprietary Information and further agrees not to
disclose such Proprietary Information to a third party without prior written
consent from the disclosing party.

                                       2
<PAGE>

6.2      No information will be within the protection of this provision where
such information:

         A.       Is or becomes publicly available;
         B.       Is released by the originating party to anyone without
                  restrictions;
         C.       Is rightfully obtained from third parties; or
         D.       Is known to the receiving party at the time of receipt, as
                  shown by its prior written records; or
         E.       Is required to be disclosed by law or regulation.

6.3      This nondisclosure obligation will survive for a period not to exceed
two (2) years following termination of this CONTRACT. Notwithstanding anything
herein to the contrary, UNH will not be liable to SPONSOR or anyone claiming by
or through SPONSOR for any failure of the Principal Investigator, associates,
coworkers, staff or students to preserve the confidentiality of any such
Proprietary Information

Article 7 - Publications

7.1      SPONSOR recognizes that under UNH policy, the results of Project must
be publishable and agrees that personnel engaged in Project will be permitted to
present at symposia, national, or regional professional meetings, and to publish
in journals, theses or dissertations, or otherwise of their own choosing,
methods and results of Project, provided, however, that SPONSOR will have been
furnished copies of any proposed publication or presentation at least thirty
(30) days in advance of the submission of such proposed publication or
presentation.

7.2      SPONSOR will have thirty (30) days, after receipt of said copies, to
review and comment upon proposed presentation or publication because there is
patentable subject matter or inadvertent disclosure of SPONSOR's Proprietary
Information which needs protection. If SPONSOR determines that a patent
application should be filed, the publication or presentation will be delayed an
additional sixty (60) days or until a patent application is filed, whichever is
sooner; otherwise SPONSOR will not make any editorial changes without the
consent of the UNH except that SPONSOR may delete from the manuscript any
Proprietary Information of which Principal Investigator has been made aware
pursuant to the terms of this CONTRACT. At the end of thirty (30) day working
period, UNH will have the right at its discretion to have said manuscript
published as so amended by SPONSOR.

7.3      The obligation to submit for review any such manuscript under this
Article will end one (l) year from the termination of this CONTRACT pursuant to
the terms hereof. If SPONSOR so elects, UNH agrees to include in any publication
of the results of the Project, acknowledgment of SPONSOR's financial and
technical support.

Article 8 - Rights to Intellectual Property

8.1      Licensable Technology means the technology, know-how, inventions and
improvements developed, discovered or created pursuant to this CONTRACT and
includes Intellectual Property as defined in Article 1.3 of the CONTRACT.

8.2      Licensable Patents means any and all U.S. patent applications,
including reissue, divisional, continuation and reexamination applications,
together with any and all corresponding U.S. and foreign patents and patent
applications based on inventions which relate to and are usable with the
Licensable Technology and made in performance of the CONTRACT by employees of
UNH, either alone or jointly with employees of SPONSOR.

8.3      All rights and title to Licensable Technology and Licensable Patents
developed, discovered or created pursuant to the CONTRACT solely by employees of
UNH ("UNH IP") shall belong to UNH. All rights and title to Licensable

                                       3
<PAGE>

Technology and Licensable Patents developed, discovered or created solely by
employees of SPONSOR ("SPONSOR IP") shall belong to SPONSOR and are excluded
from this Agreement. All rights and title to Licensable Technology and
Licensable Patents developed, discovered or created jointly by employees of UNH
and SPONSOR ("Joint IP") shall be jointly owned. Each party shall have the right
to use the jointly-owned Licensable Technology and jointly-owned Licensable
Patents for its own purposes, so long as it continues to be joint, with the
exception that UNH may only use for non-commercial purposes.

8.4      UNH hereby grants to SPONSOR an option (the "Option") to an irrevocable
world-wide, royalty-free exclusive license, with the right to sub-license, to
UNH IP or UNH's interest in Joint IP with terms and conditions to be negotiated
upon SPONSOR election to Option, and based upon usual and customary terms and
conditions for such an agreement. SPONSOR may exercise the Option by written
notice to UNH's Office of Intellectual Property Management at any time during
the CONTRACT. The Option will expire six (6) months after receipt of the final
technical report referred to in Article 5 of the CONTRACT. Should SPONSOR fail
to exercise the Option within such six month period, UNH shall be free to
license the UNH IP or its interest in the Joint IP specified in the notice to
any third party. UNH shall pay one-half of all royalty payments and other fees
for such license to SPONSOR after UNH has recovered its expense associated with
such license. UNH agrees that until the expiration of the Option, as provided
herein, UNH shall not transfer, license or covey any interest in UNH IP or Joint
IP. Upon exercise of the Option, UNH shall execute all documents and do all acts
reasonably necessary to convey to SPONSOR and evidence the rights set forth
herein. However, should UNH license the UNH IP or its interest in the Joint IP
to any third party, such license shall not be interpreted as giving the third
party any rights to inventions made by SPONSOR prior to the performance of the
project or outside the scope of the Project.

8.5      In the event SPONSOR elects to file patent applications for UNH IP or
Joint IP, SPONSOR agrees to pay for all costs associated with the preparation,
filing, prosecution and maintenance of U.S. and foreign application(s) and
patent(s), using counsel chosen by SPONSOR for this purpose. Title to patent(s)
shall be in accordance with Article 8.3. Further, SPONSOR agrees to keep UNH's
Office of Intellectual Property Management advised as to all developments with
respect to application(s) owned by UNH, alone or jointly with SPONSOR and will
promptly supply to UNH's Office of Intellectual Property Management copies of
all papers received and filed in connection with the prosecution thereof in
sufficient time for UNH's Office of Intellectual Property Management to comment
thereon. UNH agrees to cooperate with SPONSOR at SPONSOR request, as may be
reasonably deemed necessary by SPONSOR and to secure patent protection on
inventions within the scope of the Licensable Technology.

8.6      Title to data (which is herein defined as including, but not limited
to, software, writings, sound recordings, pictorial reproductions, drawings or
other graphical representations, reports, blueprints and works of any similar
nature) first produced or composed by UNH employees in the performance of work
under this CONTRACT will be the sole and exclusive property of UNH, who will
have the sole right to determine the disposition of copyrights or other rights
resulting therefrom, provided, however, that UNH will grant to SPONSOR a
royalty-free, non-exclusive license to reproduce, modify and use all such data
for its own purposes. UNH agrees to only use the data for education, research,
and non-commercial purposes.

8.7      If SPONSOR elects not to exercise its option as defined in Article 8.4
or decides to discontinue the financial support of the prosecution or
maintenance of the protection, UNH will be free to file or continue prosecution
or maintain any such application(s), and to maintain any protection issuing
thereon in the U.S. and in any foreign country at UNH's sole expense.

8.8      Nothing in this CONTRACT will be interpreted as giving either party any
rights to inventions made by the other party prior to performance of Project or
outside the scope of Project.

8.9      UNH reserves the right to practice the technology developed by UNH from
this project for its own bona fide research.

                                       4
<PAGE>

Article 9 - Term and Termination

9.1      This CONTRACT will become effective upon the date first hereinabove
written and will continue in effect for the full duration of the Period of
Performance unless sooner terminated in accordance with the provisions of this
Article. The parties hereto may, however, extend the term of the CONTRACT for
additional periods as desired under mutually agreeable terms and conditions
which the parties reduce to writing and sign. Either party may terminate this
CONTRACT upon ninety (90) days prior written notice to the other.

9.2      In the event that either party hereto commits any breach of or default
in any of the terms or conditions of this CONTRACT, and also fails to remedy
such default or breach within sixty (60) days after receipt of written notice
thereof from the other party hereto, the party giving notice may, terminate this
CONTRACT by sending notice of termination in writing to the other party to such
effect, and such termination will be effective as of the date of the receipt of
such notice.

9.3      Anything herein to the contrary notwithstanding, in the event of early
termination of this CONTRACT by SPONSOR, SPONSOR will pay all costs accrued by
UNH as of the date of termination, which includes all non-cancellable contracts,
fellowships, graduate student or post-doctoral associate appointments called for
in Appendix A, incurred prior to the effective date of termination. After
termination, any obligation of SPONSOR for fellowships, graduate students or
postdoctoral associates will end no later than the end of UNH's academic year
following termination. After termination, UNH will submit a final report of all
Costs incurred and all funds received under this CONTRACT. The report will be
accompanied by a check for any funds remaining, or an invoice for any funds due
UNH, if any, after allowable Costs and non-cancelable commitments have been
paid.

9.4      Subject to Article 8, termination of this CONTRACT by either party for
any reason will not affect the rights and obligations of the parties accrued
prior to the effective date of termination of this CONTRACT. No termination of
this CONTRACT, however effectuated, will affect the SPONSOR's rights and duties
under Article 8 hereof, or release the parties hereto from their rights and
obligations under Articles 3, 4, 5, 6, 7, 8, 10, 11 and 14.

Article 10 - Disclaimers. Liabilities, Indemnity and Warranties

10.1     SPONSOR agrees to defend, waiver, indemnify and hold harmless UNH,
including its officers, agents, employees and students from any liability, loss
or damage suffered as a result of claims, demands, costs or judgments arising
out of the activities to be carried out pursuant to the obligations of this
CONTRACT, including, but not limited to, the use by SPONSOR of the results
obtained from the activities performed by UNH under this CONTRACT; provided,
however, that any such liability, loss or damage resulting from the following
Subsections "A" or "B" is excluded from this agreement to indemnify and hold
harmless:

         A.       the negligent failure of UNH to substantially comply with any
                  applicable federal or other governmental requirements; or

         B.       the negligence or willful malfeasance of any officer, agent,
                  employee or student of UNH.

10.2     UNH makes no warranties, express or implied, as to any matter
whatsoever, including, without limitation, the results of the Project or any
invention, process or product, whether tangible or intangible, conceived,
discovered, or developed under this CONTRACT; or the ownership, merchantability,
or fitness for a particular purpose the results of the Project or any such
invention or product. UNH will not be liable for any direct, consequential, or
other damages suffered by SPONSOR, any licensee, or any others including, but
not limited to, damages arising from loss of data or delay or termination of the
Project, or from the use of the results of the Project, or any such invention or
product. The provisions of this clause will survive termination of this
CONTRACT.

                                       5
<PAGE>

Article 11 - Use of Names

11.      Neither UNH nor Sponsor will identify the other in any products,
publicity, promotion, promotional advertising, or other promotional materials to
be disseminated to the public, or use any trademark, service mark, trade name,
logo, or symbol that is representative of the other party or its entities,
whether registered or not, or use the name, title, likeness, or statement of any
faculty member, employee, or student, without the other party's prior written
consent. Any use of names shall be limited to statements of fact and shall not
imply endorsement by one party of the other party's research, products, or
services.

Article 12 - CONTRACT Modification

12.      Any agreement to change the terms of this CONTRACT in any way will be
valid only if the change is made in writing and approved by mutual agreement of
authorized representatives of the parties hereto.

Article 13 - Notices

13.      Notices, invoices, communications, modifications and payments hereunder
will be deemed made if given by registered or certified envelope, postage
prepaid, and addressed to the party to receive such notice, invoice, or
communication at the address given below, or such other address as may hereafter
be designated by notice in writing:

         SPONSOR:       Name:            Richard T. Schumacher
                        Title:           President and CEO
                        Address:         Pressure BioSciences, Inc.
                                         321 Manley Street
                                         West Bridgewater, MA  02379
                        Telephone:       (508) 580-1818
                        FAX:             (508) 580-1822

         UNH:           Name:            Noreen Norman
                        Title:           Senior Grant and Contract Administrator
                        Address:         University of New Hampshire
                                         Office of Sponsored Research
                                         Service Building, 51 College Rd
                                         Durham, NH  03824-3585
                        Telephone:       (603) 862-2037
                        FAX:             (603) 862-3564

         Technical
         Matters:       Name:            Thomas Moody, PhD
                        Title:           Research Assistant Professor
                        Address:         Biochemistry Department
                                         University of New Hampshire
                                         Rudman Hall
                                         Durham, NH 03824
                        Telephone:       (603) 862-2459
                        FAX:             (603) 862-4013

                                       6
<PAGE>

Article 14 - Assignment

14.1     Neither party may assign, transfer or delegate its rights, duties or
obligations hereunder without the prior written consent of the other, and any
assignment, transfer or delegation in violation of this provision will be void.
Subject to the terms of this provision, this CONTRACT will be binding upon and
inure to the benefit of the parties hereto and their respective successors and
assigns.

14.2     This CONTRACT is assignable to any division of SPONSOR, any majority
stockholder of SPONSOR, and/or any subsidiary of SPONSOR in which more than
fifty (50) percent of the outstanding stock is owned by SPONSOR.

Article 15. - FORCE MAJEURE

15.      UNH will not be liable for any failure to perform as required by this
CONTRACT, if the failure to perform is caused by circumstances reasonably beyond
UNH's control, such as labor disturbances or labor disputes of any kind,
accidents, failure of any governmental approval required for full performance,
civil disorders or commotions, acts of aggression, acts of God, energy or other
conservation measures, explosions, failure of utilities, mechanical breakdowns,
material shortages, disease, thefts, or other such occurrences.

Article 16. - MISCELLANEOUS PROVISIONS

16.1     This CONTRACT is subject to all applicable local, state and federal
laws and regulations

16.2     It is expressly agreed by the parties hereto that UNH and SPONSOR are
independent CONTRACTORS and nothing in this CONTRACT is intended to create an
employer relationship, joint venture, or partnership between the parties.
Neither party has the authority to bind the other.

16.3     SPONSOR acknowledges that the Project is a scientific undertaking and,
consequently, UNH does not guarantee that the Project will yield any particular
outcome.

16.4     This CONTRACT will not be construed to limit the freedom of individuals
participating in this Project to engage in any other Project.

16.5     In the event of any inconsistency between the terms of this CONTRACT
and the documents referenced or incorporated herein, the terms of this CONTRACT
will prevail.

16.6     If any provisions of this CONTRACT will be held to be invalid, illegal
or unenforceable, the validity, legality and enforceability of the remaining
provisions of this CONTRACT will not be impaired thereby.

16.7     The failure of any party hereto to insist upon strict performance of
any provision of this CONTRACT or to exercise any right hereunder will not
constitute a waiver of that provision or right

16.8     All rights and remedies hereunder will be cumulative and not
alternative, and this CONTRACT will be construed and governed by the laws of the
State of New Hampshire. Any legal action involving this CONTRACT or the Project
under it will be adjudicated in the State of New Hampshire.

16.9     Any dispute between the parties in connection with this CONTRACT which
cannot be resolved by mutual agreement will be finally settled under the Rules
of Conciliation and Arbitration of the American Arbitration Association by one
or more arbitrators appointed in accordance with the Rules. Arbitration will be
held in Dover, New Hampshire, or at any other mutually agreeable location.

                                       7
<PAGE>

16.10    This CONTRACT represents the entire agreement and understanding between
the parties with respect to its subject matter and supersedes any prior and/or
contemporaneous discussions, representations, or contracts, whether written or
oral, of the parties regarding this subject matter.

IN WITNESS WHEREOF, the parties have caused this CONTRACT to be executed in
duplicate as of the most current day and year written below.

THE UNIVERSITY OF NEW HAMPSHIRE             PRESSURE BIOSCIENCES, INC.

Signature: /s/ VICTOR G. SOSA               Signature: /s/ RICHARD T. SCHUMACHER
           -----------------------                     -------------------------

Name:  Victor G. Sosa                       Name:  Richard T. Schumacher
       ---------------------------                 -----------------------------

Title: Manager, Sponsored                   Title: President and CEO
       Programs Contract Services                  -----------------------------
       and Export Control
       ---------------------------

Date:  February 1, 2006                     Date:  January 19, 2006
       ---------------------------                 -----------------------------

                                       8Exhibit 10.1 to STRATTEC January 1, 2006 Form 10-Q

    

      Exhibit
        10.1

      

      

      

      

      

      

      

      

      STRATTEC
        SECURITY CORPORATION

      SUPPLEMENTAL
        EXECUTIVE RETIREMENT PLAN

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      Amended
        effective January 1, 2005

      

      

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      STRATTEC
        SECURITY CORPORATION

      SUPPLEMENTAL
        EXECUTIVE RETIREMENT PLAN

      

      TABLE
        OF
        CONTENTS

      

                                                                                            Page

      ARTICLE 1

      

      Establishment
        of Plan and Purpose

      

      
        	
                1.01

              	
                Establishment
                  of Plan

              	
                1-1

              
	
                1.02

              	
                Purpose
                  of Plan

              	
                1-1

              

      

      

      

      ARTICLE 2

      

      Definitions
        and Construction

      

      
        	
                2.01

              	
                Definitions

              	
                2-1

              
	
                2.02

              	
                Construction

              	
                2-3

              

      

      

      ARTICLE 3

      

      Eligibility

      

      
        	
                3.01

              	
                Conditions
                  of Eligibility

              	
                3-1

              
	
                3.02

              	
                Commencement
                  of Participation

              	
                3-1

              
	
                3.03

              	
                Initial
                  Election

              	
                3-1

              
	
                3.04

              	
                Subsequent
                  Election

              	
                3-1

              
	
                3.05

              	
                Termination
                  of Participation

              	
                3-2

              

      

      

      

      ARTICLE 4

      

      Amount
        of Benefit

      

      
        	
                4.01

              	
                Supplemental
                  Retirement Pension

              	
                4-1

              
	
                4.02

              	
                Code
                  Section 415 Limits

              	
                4-1

              
	
                4.03

              	
                Limit
                  on Benefits

              	
                4-1

              

      

      

      
        
          
          

        

        
          i

          
            

          

        

        
          
          

        

      

                                                                                            Page

      

      ARTICLE
        5

      

      
        	 	
                 
                  Vesting

              	
                5-1

              

      

      

      

      ARTICLE
        6

      

      Distributions

      

      
        	
                6.01

              	
                Distribution
                  Options

              	
                6-1

              
	
                6.02

              	
                Payments
                  of Options

              	
                6-1

              

      

      

      

      ARTICLE
        7

      

      
        	 	
                 
                  Acceleration of Payments

              	
                7-1

              

      

      

      

      ARTICLE
        8

      

      Administration
        of Plan

      

      
        	
                8.01

              	
                Appointment
                  of Separate Administrative Committee

              	
                8-1

              
	
                8.02

              	
                Powers
                  and Duties

              	
                8-1

              
	
                8.03

              	
                Records
                  and Notices

              	
                8-2

              
	
                8.04

              	
                Compensation
                  and Expenses

              	
                8-2

              
	
                8.05

              	
                Limitation
                  of Authority

              	
                8-3

              

      

      

      

      ARTICLE
        9

      

      General
        Provisions

      

      
        	
                9.01

              	
                Assignment

              	
                9-1

              
	
                9.02

              	
                Employment
                  not Guaranteed by Plan

              	
                9-1

              
	
                9.03

              	
                Termination
                  and Amendment

              	
                9-1

              
	
                9.04

              	
                Contingency

              	
                9-1

              
	
                9.05

              	
                Notice

              	
                9-1

              
	
                9.06

              	
                Limitation
                  on Liability

              	
                9-2

              
	
                9.07

              	
                Indemnification

              	
                9-2

              
	
                9.08

              	
                Headings

              	
                9-2

              
	
                9.09

              	
                Severability

              	
                9-2

              
	
                9.10

              	
                Contributions

              	
                9-3

              

      

      
        
          
          

        

        
          ii

          
            

          

        

        
          
          

        

      

                                                                                               Page

      

      ARTICLE
        10

      

      Claims
        Procedure

      

      
        	
                10.01

              	
                Application
                  for Benefits

              	
                10-1

              
	
                10.02

              	
                Notice
                  of Denied Claim for Benefits

              	
                10-1

              
	
                10.03

              	
                Review
                  of Denied Claim

              	
                10-1

              

      

      

      

      

      
        
          
          

        

        
          iii

          
            

          

        

        
          
          

          
            

          

        

      

      INTRODUCTION

      

      

      Effective
        February 27, 1995, STRATTEC SECURITY CORPORATION (the "Company")
        adopted a nonqualified deferred compensation plan to benefit certain of its
        management and highly compensated employees.

      

      This
        introduction and the following Articles, as amended from time to time, comprise
        the Plan.

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      STRATTEC
        SECURITY CORPORATION

      SUPPLEMENTAL
        EXECUTIVE RETIREMENT PLAN

      

      

      ARTICLE 1

      

      Establishment
        of Plan and Purpose

      

      1.01  Establishment
        of Plan.
        STRATTEC SECURITY CORPORATION hereby establishes the "STRATTEC SECURITY
        CORPORATION Supplemental Executive Retirement Plan" effective as of
        February 27, 1995 (the "Plan"). The Plan is amended and restated
        effective January 1, 2005.

      

      1.02  Purpose
        of Plan.
        The
        Plan shall provide a select group of management and highly compensated employees
        with an enhanced retirement benefit. By allowing key management or highly
        compensated employees to participate in the Plan, the Company expects the
        Plan
        to benefit it in attracting and retaining the most capable individuals to
        fill
        its executive positions.

      

      The
        parties intend that the arrangements described herein be unfunded for tax
        purposes and for purposes of Title I of the Employee Retirement Income
        Security Act of 1974, as amended from time to time.

      

      

      
        
          
          

        

        
          1-1

          
            

          

        

        
          
          

          
            

          

        

      

      ARTICLE 2

      

      Definitions
        and Construction

      

      As
        used
        in this Plan, the following words shall have the following
        meanings:

      

       2.01  Definitions.

      

      (a)    Accrued
        Benefit.
        The
        amount determined under Article 4, payable at age 65 as a Single-Life
        Annuity. 

      

      (b)    Actuarial
        (or Actuarially) Equivalent.
        The
        same factors and assumptions used to determine actuarially equivalent benefits
        under the STRATTEC SECURITY CORPORATION Retirement Plan.

      

      (c)    Administrator/Administrative
        Committee.
        The
        person or persons listed in Article 8 below to control and manage the
        operation and administration of the Plan.

      

      (d)    Average
        Monthly Compensation.
        A
        Participant's Average Monthly Compensation as defined under the STRATTEC
        SECURITY CORPORATION Retirement Plan, incorporated herein by reference, but
        without regard to the dollar compensation limit under Code
        section 401(a)(17).

      

      (e)    Beneficiaries.
        The
        spouse or descendants of a Participant or any other person receiving benefits
        hereunder in relation to a Participant.

      

      (f)    Change
        of Control.
        Change
        of Control as defined in Article 7, section 7.01.

      

      (g)    Code.
        The
        Internal Revenue Code of 1986, as amended from time to time, and as interpreted
        by applicable regulations and rulings.

      

      (h)    Company.
        STRATTEC SECURITY CORPORATION and any successor which adopts the Plan. The
        Compensation Committee or such other board members authorized by the board
        of
        directors from time to time, shall act on behalf of the Company for purposes
        of
        the Plan.

      

      (i)    Compensation
        Committee.
        The
        Compensation Committee of the board of directors of the
        Company.

      
        
          
          

        

        
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      (j)    Credited
        Service.
        With
        respect to Harold M. Stratton II, years of Credited Service shall be
        calculated based on his employment by Briggs & Stratton Corporation and
        STRATTEC SECURITY CORPORATION in accordance with section 3.3 of the
        STRATTEC SECURITY CORPORATION Retirement Plan, incorporated herein by reference.
        All other Participants shall accrue years of Credited Service under this
        Plan
        based only on employment by STRATTEC SECURITY CORPORATION beginning on the
        date
        the Participant commences participation in this Plan, but otherwise consistent
        with the calculation of Credited Service under section 3.3 of the STRATTEC
        SECURITY CORPORATION Retirement Plan.

      

      (k)    Disability.
        Disability shall mean that the Participant: (1) is unable to engage in any
        substantial gainful activity by reason of any medically determinable physical
        or
        mental impairment that can be expected to result in death or can be expected
        to
        last for a continuous period of not less than 12 months; or (2) is, by
        reason of any medically determinable physical or mental impairment that can
        be
        expected to result in death or can be expected to last for a continuous period
        of not less than 12 months, receiving income replacement benefits for a
        period not less than three months under an accident and health plan
        covering employees of the Company. 

      

      (l)    
Effective
        Date.
        The
        effective date of this Plan shall be February 27, 1995.

      

      (m)   Eligibility
        Date.
        The
        date an individual is eligible to participate in this Plan, as defined in
        Article 3, section 3.2.

       

      (n)    Eligible
        Spouse.
        The
        husband or wife of a Participant who is married to the Participant on the
        date
        benefits under this Plan commence. However, if the Participant shall die
        prior
        to the date payments under the Plan would have commenced to him, then the
        Eligible Spouse shall be the husband or wife to whom the Participant is married
        on the date of the Participant's death.

      

      (o)    Employee.
        An
        employee of the Company.

      

      (p)    Leave
        of Absence.
        The
        definition as provided in Article 6, section 6.02. 

      

      (q)    Participants.
        Such
        management and highly compensated Employees whom the Company identifies as
        eligible to participate in the Plan. Effective February 27, 1995, the
        Participants shall be the Company's Executive

      
        
          
          

        

        
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      Officers:
        Harold M. Stratton II; John G. Cahill; Michael R. Elliot;
        Andrew G. Lechtenberg; and Gerald L. Peebles.

      

      (r)    Participation
        Date.
        The
        first date that an individual participates in this Plan, as defined in
        Article 3, section 3.02. 

      

      (s)    Plan.
        The
        STRATTEC SECURITY CORPORATION Supplemental Executive Retirement Plan, as
        stated
        herein and as amended from time to time.

      

      (t)    Plan
        Year.
        The
        initial Plan Year is the period beginning February 27, 1995 and ending
        December 31, 1995. Subsequent Plan Years are the 12-month periods ending
        each December 31.

      

      (u)   Separation
        of Employment.
        The
        date that determines when benefits may be paid under this Plan, as provided
        in
        Article 6, section 6.02.

      

      2.02  Construction.
        The
        Plan is subject to federal law, including the requirements of Code
        section 409A, the proposed regulations for Code section 409A and other
        guidance provided by the Internal Revenue Service. For purposes of state
        law,
        the Plan shall be construed under the laws of the State of Wisconsin. Words
        used
        in the masculine gender shall include the feminine and words used in the
        singular shall include the plural, as appropriate. The words "hereof," "herein,"
        "hereunder" and other similar compounds of the word "here" shall refer to
        the
        entire Agreement, not to a particular section. All references to statutory
        sections shall include the section so identified as amended from time to
        time or
        any other statute of similar import. If any provisions of the Internal Revenue
        Code, Employee Retirement Income Security Act or other statutes or regulations
        render any provisions of this Plan unenforceable, such provision shall be
        of no
        force and effect only to the minimum extent required by such law.

      

      

      
        
          
          

        

        
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      ARTICLE 3

      

      Eligibility

      

      3.01  Conditions
        of Eligibility.
        Those
        individuals named in section 2.01(k) and any other management and highly
        compensated Employees selected by the Compensation Committee of the Board
        of
        Directors of the Company, from time to time, shall be eligible to participate
        in
        this Plan.

      

      3.02  Commencement
        of Participation.
        The
        Compensation Committee shall determine the date that an individual is eligible
        to participate in the Plan (the "Eligibility Date"). The individual shall
        become a Participant in the Plan 31 days after his Eligibility Date
        (the "Participation Date"). 

      

      3.03  Initial
        Election.
        A new
        Participant must complete a written election specifying the form of distribution
        that he or she wishes to receive under this Plan. The forms of distribution
        are
        listed in Article 6, section 6.01. The Participant must complete the
        written election within 30 days after the Participant's Eligibility Date.
        If no election is completed, the Participant shall be deemed to have elected
        a
        lump sum distribution. 

      

      3.04  Subsequent
        Election.
        If a
        Participant decides to change the form of distribution that he or she will
        receive, the Participant may make a subsequent election, subject to the
        following requirements:

      

      (a)    The
        Participant's subsequent election may not take effect until 12 months after
        the date the election is made and must be made at least 12 months prior to
        the date that the first amount was scheduled to be paid; and

      

      (b)    The
        payment with respect to the election must be deferred for a period of
        five years from the date the first amount was scheduled to be paid, subject
        to the exception in (c) below.

      

      (c)    If
        the
        distribution to or on behalf of the Participant is made due to the Participant's
        Disability or death, the five-year deferral period does not apply. 

      

      3.05  Termination
        of Participation.
        An
        individual's right to participate in the Plan shall cease as of the earlier
        of
        the termination of his Employment or action by the Compensation Committee
        removing him from the Employees eligible to participate in the Plan. A former
        Participant of the Plan shall receive no benefits under this Plan unless
        such
        former Participant is vested pursuant to Article 5 of the
        Plan.

      

      
        
          
          

        

        
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      ARTICLE 4

      

      Amount
        of Benefit

      

      4.01  Supplemental
        Retirement Pension.
        A
        Participant's Accrued Benefit shall equal the sum of (a) and (b)
        below:

      

      (a)    .5%
        of
        the Participant's Average Monthly Compensation multiplied by his years of
        Credited Service with the Company, and

      

      (b)    1.6%
        of
        the portion of the Participant's Average Monthly Compensation in excess of
        the
        Participant's Average Monthly Compensation computed in accordance with the
        dollar compensation limit under Code section 401(a)(17) applicable to the
        STRATTEC SECURITY CORPORATION Retirement Plan, multiplied by his years of
        Credited Service.

      

      The
        Accrued Benefit shall be determined as of the date of the Participant's
        Separation of Service or, if earlier, the date the Participant is no longer
        eligible for the Plan.

      

      4.02  Code
        Section 415 Limits.
        The
        Participant may receive an additional amount under this Plan to the extent
        that
        the limits under Code section 415(b) restrict the benefits payable to a
        Participant under the STRATTEC SECURITY CORPORATION Retirement Plan. The
        amount,
        if any, shall be calculated as of the date the Participant's Supplemental
        Retirement Pension is calculated in section 4.01 above. The Participant
        shall receive an additional monthly benefit from this Plan of an amount equal
        to
        the amount the Participant would have received under the STRATTEC SECURITY
        CORPORATION Retirement Plan if not for the limits of Code section 415(b).

      

      4.03  Limit
        on Benefits.
        Notwithstanding the foregoing, no Participant's benefit under this Plan,
        when
        combined with his benefit under the STRATTEC SECURITY CORPORATION Retirement
        Plan, shall exceed 70% of the Participant's Average Monthly
        Compensation.

      

      
        
          
          

        

        
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      ARTICLE
        5

      

      Vesting

      

      A
        Participant shall become fully vested in his or her Plan benefits at the
        time
        the Participant is vested under the STRATTEC SECURITY CORPORATION Retirement
        Plan.

       

      
        
          
          

        

        
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      ARTICLE
        6

      

      Distributions

      

      6.01  Distribution
        Options.
        A
        Participant may elect to receive his or her Supplemental Retirement Benefits
        in
        one of the payment options listed below. Each option shall be determined
        so that
        the value of the option is the Actuarial Equivalent of a Participant's Accrued
        Benefit. 

      

      (a)    Single
        Life Annuity.
        The
        Single Life Annuity provides a monthly payment amount for the Participant's
        lifetime.

      

      (b)    50%
        Joint and Survivor Annuity.
        Under a
        50% Joint and Survivor Pension, a reduced amount is paid to the Participant
        for
        his or her lifetime. Thereafter, the Participant's Eligible Spouse, if
        surviving, receives a lifetime survivorship Pension in a monthly amount equal
        to
        50% of the reduced monthly amount which had been payable to the Participant.
        The
        last payment of the 50% Joint and Survivor Pension shall be made as of the
        first
        day of the month in which the death of the survivor occurs.

      

      (c)    100%
        Joint and Survivor Annuity.
        A
        Participant may elect to receive a reduced Pension payable during the joint
        lives of the Participant and the Participant's Eligible Spouse so that,
        following the death of the Participant, payment of the Pension in an amount
        equal to 100% of the Participant's reduced Pension (as elected by the
        Participant) shall continue to the Eligible Spouse, if surviving, with the
        last
        payment to be made as of the first day of the month in which the death of
        the
        Eligible Spouse occurs.

      

      (d)    Ten-Year
        Certain and Life Option.
        A
        Participant may elect to receive a reduced Pension payable until death, and
        if
        the Participant's death occurs before the Pension has been paid for
        10 years, payment of the pension will be made in such reduced amount to the
        person or persons designated by the Participant for the balance of the 10-year
        period. 

      

      (e)    Lump
        Sum Payment.
        A
        Participant may elect payment of the Supplemental Retirement Benefit in one
        lump
        sum. 

      

      6.02  Payment
        of Options.
        

      

      (a)    Payment
        Schedule.
        The
        Plan will provide a lump sum payment or begin the first annuity or installment
        payment the first business day following the date that is six months after
        the date of the Participant's Separation from
        Service. Annuity or installment payments shall continue to be made, as provided
        in section 6.01, on the first business day of each
        month.

      
        
          
          

        

        
          6-1

          
            

          

        

        
          
          

        

      

      

      (b)    Separation
        from Service.
        Separation of Service means the earliest of the following dates:  The
        date that the Participant terminates employment with the Company, dies or
        is
        Disabled. The Administrative Committee shall determine the date that a
        Participant is Disabled as provided in Article 8, section 8.02. A
        Participant who is on a Leave of Absence does not have a Separation of
        Employment. A Leave of Absence means that the Participant is on a sick leave,
        military leave or other bona fide leave of absence (such as temporary employment
        by the government) if the period of the leave does not exceed six months.
        If the leave is longer, the Participant's right to reemployment with the
        Company
        must be provided by statute or contract.

      

      

      
        
          
          

        

        
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      Article
        7

      

      Acceleration
        of Payments

      

      7.01  Acceleration
        of Payments.
        Payments under the Plan may be accelerated as provided below:

      

      (a)    Dissolution
        or Bankruptcy.
        The
        Compensation Committee has the discretion to terminate the Plan within
        12 months of a corporate dissolution taxed under Code section 331 or
        with the approval of a bankruptcy court pursuant to 11 U.S.C.
        section 503(b)(1)(A), provided that amounts payable under this Plan will be
        included in the Participant's gross income the latest of the calendar year
        in
        which the bankruptcy occurs, the calendar year in which the amount is no
        longer
        subject to a substantial risk of forfeiture or the first calendar year in
        which
        payment is administratively feasible. 

      

      (b)    Change
        in Control.
        The
        Compensation Committee has the discretion to terminate the Plan within the
        30 days preceding or the 12 months following a change in control event
        (as defined in prop. regs. 1.409A-2(g)(4)(i)). The Plan will be treated as
        terminated only if all substantially similar arrangements sponsored by the
        Company are terminated, so that the Participants under this Plan and the
        Employees under any substantially similar agreements are required to receive
        all
        amounts of compensation deferred under the terminated arrangements within
        12 months of the termination date. 

      

      (c)    Plan
        Termination.
        The
        Compensation Committee may terminate the Plan provided that:

      

      (i)    All
        arrangements sponsored by the Company that would be aggregated with this
        Plan
        under prop. regs. 1.409A-1(c) if the same Participant participated in all
        of the arrangements are terminated;

      

      (ii)    No
        payments other than payments that would be payable under the terms of the
        arrangements if the termination had not occurred are made within 12 months
        of the termination of the arrangements;

      

      (iii)    All
        payments are made within 24 months of the termination of the arrangements;

      
        
          
          

        

        
          7-1

          
            

          

        

        
          
          

        

      

      (iv)    The
        Company does not adopt a new arrangement that would be aggregated with the
        terminated arrangement if the same Participant participated in both
        arrangements, at any time within five years following the date of
        termination of the Plan; and

      

      (v)    Such
        other events and conditions as the Commissioner of Revenue may prescribe
        in
        generally applicable guidance published in the Internal Revenue Bulletin.
        

      

      

      
        
          
          

        

        
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      ARTICLE
        8

      

      Administration
        of the Plan

      

      8.01  Appointment
        of Separate Administrative Committee.
        The
        Chief Executive Officer and Chief Financial Officer shall serve as the
        Administrative Committee. The Compensation Committee of the Company's Board
        of
        Directors may name additional people to the Administrative Committee. Any
        person, including, but not limited to, Employees, shall be eligible to serve
        on
        the Administrative Committee. Persons serving on the Administrative Committee
        may resign by giving written notice to the Company and the Company may appoint
        or remove such persons. An Administrative Committee consisting of more than
        one
        person shall act by a majority of its members at the time in office, either
        by
        vote at a meeting or in writing without a meeting. An Administrative Committee
        consisting of more than one person may authorize any one or more of its members
        to execute any document or documents on behalf of the Administrative Committee,
        in which event the Administrative Committee shall notify the Company of the
        member or members so designated. The Company shall accept and rely upon any
        document executed by such member or members as representing action by the
        Administrative Committee until the Administrative Committee shall file with
        the
        Company a written revocation of such designation. No person serving as
        Administrative Committee shall vote or decide upon any matter relating solely
        to
        himself or solely to any of his rights or benefits pursuant to the
        Plan.

      

      8.02  Powers
        and Duties.
        The
        Administrative Committee shall administer the Plan in accordance with its
        terms.
        The Administrative Committee shall have full and complete authority and control
        with respect to Plan operations and administration unless the Administrative
        Committee allocates and delegates such authority or control pursuant to the
        procedures stated in subsection (b) or (c) below. Any decisions of the
        Administrative Committee or its delegate shall be final and binding upon
        all
        persons dealing with the Plan or claiming any benefit under the Plan. The
        Administrative Committee shall have all powers which are necessary to manage
        and
        control Plan operations and administration including, but not limited to,
        the
        following:

      

      (a)    To
        employ
        such accountants, counsel or other persons as it deems necessary or desirable
        in
        connection with Plan administration. The Company shall bear the costs of
        such
        services and other administrative expenses.

      

      (b)    To
        designate in writing persons other than the Administrative Committee to perform
        any of its powers and duties hereunder.

      

      (c)    To
        allocate in writing any of its powers and duties hereunder to those persons
        who
        have been designated to perform Plan fiduciary
        responsibilities.

      
        
          
          

        

        
          8-1

          
            

          

        

        
          
          

        

      

      

      (d)    The
        discretionary authority to construe and interpret the Plan, including the
        power
        to construe disputed provisions.

      

      (e)    To
        resolve all questions arising in the administration, interpretation and
        application of the Plan, including, but not limited to, questions as to the
        eligibility or the right of any person to a benefit.

      

      (f)    To
        adopt
        such rules, regulations, forms and procedures from time to time as it deems
        advisable and appropriate in the proper administration of the Plan.

      

      (g)    To
        prescribe procedures to be followed by any person in applying for distributions
        pursuant to the Plan and to designate the forms or documents, evidence and
        such
        other information as the Administrative Committee may reasonably deem necessary,
        desirable or convenient to support an application for such
        distribution.

      

      (h)    To
        apply
        consistently and uniformly rules, regulations and determinations to all
        Participants and beneficiaries in similar circumstances.

      

      (i)    To
        determine whether is Participant is Disabled. The Administrative Committee
        may
        determine that a Participant is Disabled if the Participant is determined
        to be
        totally disabled by the Social Security Administration. The Administrative
        Committee may also determine that the Equity Principal is Disabled in accordance
        with a disability insurance program, provided that the definition of disability
        applied under that program complies with the definition of Disability provided
        under this Plan.

      

      8.03  Records
        and Notices.
        The
        Administrative Committee shall keep a record of all its proceedings and acts
        and
        shall maintain all such books of accounts, records and other data as may
        be
        necessary for proper Plan
        administration. The Administrative Committee shall notify the Company of
        any
        action taken by the Administrative Committee which affects the obligations
        or
        rights of the Company or a Participant and, when required, shall notify any
        other interested parties.

      

      8.04  Compensation
        and Expenses.
        The
        expenses incurred by the Administrative Committee in the proper administration
        of the Plan shall be paid by the Company. An Administrative Committee member
        who
        is an Employee shall

      not
        receive any additional fee or compensation for services rendered as a member
        of
        the Administrative Committee.

      

      8.05  Limitation
        of Authority.
        The
        Administrative Committee shall not add to, subtract from or modify any of
        the
        terms of the Plan, change or add to any benefits prescribed by the Plan,
        or
        waive or fail to apply any Plan requirement for benefit
        eligibility.

      

      
        
          
          

        

        
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      ARTICLE
        9

      

      General
        Provisions

      

      9.01  Assignment.
        No
        Participant or Beneficiary may sell, assign, transfer, encumber or otherwise
        dispose of the right to receive payments hereunder. A Participant's rights
        to
        benefit payments under the Plan are not subject in any manner to anticipation,
        alienation, sale, transfer, assignment, pledge, encumbrance, attachment or
        garnishment by creditors of the Participant or the Participant's
        beneficiary.

      

      9.02  Employment
        Not Guaranteed by Plan.
        The
        establishment of this Plan, its amendments and the granting of a benefit
        pursuant to the Plan shall not give any Participant the right to continued
        Employment or limit the right of the Company to dismiss or impose penalties
        upon
        the Participant or modify the terms of employment of any
        Participant.

      

      9.03  Termination
        and Amendment.
        The
        Compensation Committee of the Board of Directors of the Company may at any
        time
        and from time to time terminate, suspend, alter or amend this Plan and no
        Participant or any other person shall have any right, title, interest or
        claim
        against the Company, its directors, officers or employees for any
        amounts.

      

      9.04  Contingency.
        The
        Company may apply for private rulings from the United States Department of
        Labor
        as to the exemption of the arrangement described herein from the reporting
        and
        disclosure requirements of ERISA and from the Internal Revenue Service as
        to the
        deductibility from taxable income of benefits paid hereunder or the exclusion
        of
        amounts deferred hereunder from the taxable income of Participant until paid.
        If
        the Company applies for a private letter ruling from the Department of Labor
        or
        Internal Revenue Service and does not receive a satisfactory reply thereto,
        the
        Company may deem this Plan terminated, in which event, the parties shall
        treat
        all amounts deferred hereunder as immediately payable to the Participants
        and
        all parties' rights and obligations hereunder shall thereupon
        cease.

      

      9.05  Notice.
        Any and
        all notices, designations or reports provided for herein shall be in writing
        and
        delivered personally or by registered or certified mail, return receipt
        requested, addressed, in the case of the Company, its Board of Directors
        or
        Administrative Committee, to the Company's principal business office and,
        in the
        case of a Participant or Beneficiary, to his home address as shown on the
        records of the Company.

      
        
          
          

        

        
          9-1

          
            

          

        

        
          
          

        

      

      9.06  Limitation on Liability.
        In no
        event shall the Company, the Administrative Committee, the Compensation
        Committee of the Board of Directors of the Company or any Employee, officer
        or
        director of the Company incur any liability for any act or failure to act
        unless
        such act or failure to act constitutes a lack of good faith, willful misconduct
        or gross negligence with respect to the Plan.

      

      9.07  Indemnification.
        The
        Company shall indemnify the Administrative Committee, the Compensation Committee
        of the Board of Directors of the Company and any Employee, officer or director
        of the Company against all liabilities arising by reason of any act or failure
        to act unless such act or failure to act is due to such person's own gross
        negligence or willful misconduct or lack of good faith in the performance
        of his
        duties to the Plan. Such indemnification shall include, but not be limited
        to,
        expenses reasonably incurred in the defense of any claim, including attorney
        and
        legal fees, and amounts paid in any settlement or compromise; provided, however,
        that indemnification shall not occur to the extent that it is not permitted
        by
        applicable law. Indemnification shall not be deemed the exclusive remedy
        of any
        person entitled to indemnification pursuant to this section. The indemnification
        provided hereunder shall continue as to a person who has ceased acting as
        a
        director, officer, member, agent or Employee of the Administrative Committee
        or
        as an officer, director or Employee of the Company, and such person's rights
        shall inure to the benefit of his heirs and representatives.

      

      9.08  Headings.
        All
        articles and section headings in this Plan are intended merely for convenience
        and shall in no way be deemed to modify or supplement the actual terms and
        provisions stated thereunder.

      

      9.09  Severability.
        The
        Plan is subject to Code section 409A, has been amended in pursuant to
        proposed regulations issued by the Internal Revenue Service and is intended
        to
        be in good faith compliance with the requirements under Code section 409A.
        To the extent that the Compensation Committee determines that additional
        information or interpretation of the rules, final regulations or other guidance
        provided by the Internal Revenue Service require amendments to the Plan to
        comply with Code section 409A, the Compensation Committee shall amend the
        Plan accordingly. Any provision of this Plan prohibited by law shall be
        ineffective to the extent of any such prohibition, without invalidating the
        remaining provisions hereof. The illegal or invalid provisions shall be fully
        severable and this Plan shall be construed and enforced as if the illegal
        or
        invalid provisions had never been inserted in this Plan.

      

      
        
          
          

        

        
          9-2

          
            

          

        

        
          
          

        

      

      9.10  Contributions.
        Upon a
        Change of Control, as defined in section 2.01(d) of this Plan, the Company
        shall, as soon as possible, but in no event later than 60 days following
        the Change of Control, make an irrevocable contribution to a trust funding
        the
        Plan in an amount that is sufficient to pay each Participant or Beneficiary
        the
        benefits to which Participants or Beneficiaries would be entitled pursuant
        to
        the terms of the Plan as of the date on which the Change of Control occurred.
        Such Trust assets shall be subject to the claims of the Company's creditors
        in
        the event of the Company's insolvency in order to prevent the Plan from being
        deemed "funded" for tax or ERISA purposes.

      

      
        
          
          

        

        
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      ARTICLE
        10

      

      Claims
        Procedure

      

      10.1  Application
        for Benefits.
        Any
        person entitled to benefits must file a written claim with the Administrative
        Committee on forms provided by the Administrative Committee. Such application
        shall include all information and evidence the Administrative Committee deems
        necessary to properly evaluate the merit of and to make any necessary
        determinations on a claim for benefits. Unless special circumstances exist,
        a
        Participant shall be informed of the decision on his claim within 90 days
        of the date all the information and evidence necessary to process the claim
        is
        received. Within such 90-day period, he shall receive a notice of the decision
        or a notice that explains the special circumstances requiring a delay in
        the
        decision and sets a date, no later than 180 days after all the information
        and evidence necessary to process his claim have been received, by which
        he can
        expect to receive a decision.

      

      The
        claimant may assume that the claim has been denied and may proceed to appeal
        the
        denial if the claimant does not receive any notice from the Administrative
        Committee within the 90-day period, or a notice of a delayed decision within
        such 90 day period.

      

      10.2  Notice
        of Denied Claim for Benefits.
        If a
        claim for benefits is partially or wholly denied, the claimant will receive
        a
        notice that: states the specific reason or reasons for denial; refers to
        provisions of the Plan documents on which the denial is based; describes
        and
        explains the need for any additional material or information that the claimant
        must supply in order to make his claim valid; and explains the steps that
        must
        be taken to submit his claim for review.

      

      10.3  Review
        of Denied Claim.
        A
        claimant may file a written appeal of a denied claim with the Administrative
        Committee within 60 days after receiving notice that his claim has been
        denied, including any comments, statements or documents he may wish to provide.
        The claimant may review all pertinent Plan documents upon reasonable request
        to
        the Administrative Committee. Within 60 days after the submission of the
        written appeal, the Administrative Committee shall render a determination
        on the
        appeal of the claim in a written statement. The written decision shall contain
        the reason or reasons for the decision and refer to specific Plan provisions
        on
        which the decision is based. If special circumstances require a delay in
        the
        decision, the Administrative Committee shall notify the claimant of the reasons
        for the delay within the 60-day period. A delayed decision shall be issued
        no
        later than 120 days after the date the Administrative Committee receives a
        request for review. The determination rendered by the Administrative Committee
        shall be binding upon all parties.

      

      

        10-1

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