Document:

Exhibit 4(a)

AMENDED MANAGEMENT AGREEMENT

    AGREEMENT made as of December 21, 1999, as amended as of
March   , 2001, by and between MASTER PREMIER GROWTH TRUST, a
Delaware business trust (hereinafter referred to as the
"Trust"), and FUND ASSET MANAGEMENT, L.P., a
Delaware limited partnership (hereinafter referred to as the "Manager").

W I T N E S S E T H:

    WHEREAS, the Trust is engaged in business as an open-end management
investment company registered under the Investment Company Act of 1940,
as amended (hereinafter referred to as the "Investment Company Act"); and

    WHEREAS, the Manager is engaged principally in rendering management
and investment advisory services and is registered as an investment
adviser under the Investment Advisers Act of 1940, as amended; and 

    WHEREAS, the Trust desires to retain the Manager to provide
management and investment advisory services to the Trust in the manner
and on the terms hereinafter set forth; and  

    WHEREAS, the Manager is willing to provide management and
investment advisory services to the Trust on the terms and conditions
hereinafter set forth; and 

    WHEREAS, the Trust serves as the "master" portfolio for one
or more "feeder" funds (each, a "Fund")
that invest all of their assets in the Trust and that have the same
investment objective and policies as the Trust.  

    NOW, THEREFORE, in consideration of the promises and the covenants
hereinafter contained, the Trust and the Manager hereby agree as
follows: 

Article I
 Duties of the Manager

    The Trust hereby employs the Manager to act as a manager and
investment adviser of the Trust and to furnish, or arrange for
affiliates to furnish, the management and investment advisory services
described below, subject to the policies of, review by and overall
control of the Trustees of the Trust, for the period and on the terms
and conditions set forth in this Agreement. The Manager hereby accepts
such employment and agrees during such period, at its own expense, to
render, or arrange for the rendering of, such services and to assume
the obligations herein set forth for the compensation provided for
herein. The Manager and its affiliates shall for all purposes herein be
deemed to be independent contractors and shall, unless otherwise
expressly provided or authorized, have no authority to act for or
represent the Trust in any way or otherwise be deemed agents of the
Trust.

    (a) Management and Administrative Services. The Manager shall
perform (or arrange for affiliates to perform) the management and
administrative services necessary for the operation of the Trust. It is
understood that the Manager or its affiliates may enter into separate
agreements with each Fund for the provision of management and
administrative services necessary for the operation of each Fund. The
Manager shall provide the Trust with office space, facilities,
equipment and necessary personnel and such other services as the
Manager, subject to review by the Trustees, shall from time to time
determine to be necessary or useful to perform its obligations under
this Agreement. The Manager also shall, on behalf of the Trust, conduct
relations with custodians, depositories, transfer agents, dividend
disbursing agents, other shareholder servicing agents, accountants,
attorneys, underwriters, brokers and dealers, corporate fiduciaries,
insurers, banks and such other persons in any such other capacity
deemed to be necessary or desirable. The Manager shall generally
monitor the Trust's compliance with investment policies and
restrictions as set forth in the Registration Statement of the Trust
filed with the Securities and Exchange Commission under the Investment
Company Act, as amended from time to time (the "Registration

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Statement"). The Manager shall make
reports to the Trustees of its performance of obligations hereunder and
furnish advice and recommendations with respect to such other aspects
of the business and affairs of the Trust as it shall determine to be
desirable.

    (b) Investment Advisory Services. The Manager shall provide (or
arrange for affiliates to provide) the Trust with such investment
research, advice and supervision as the latter may from time to time
consider necessary for the proper supervision of the assets of the
Trust, shall furnish continuously an investment program for the Trust
and shall determine from time to time which securities shall be
purchased, sold or exchanged and what portion of the assets of the
Trust shall be held in the various securities and other financial
instruments in which the Trust invests or cash, subject always to the
restrictions of the Declaration of Trust and By-Laws of the Trust, as
amended from time to time, the provisions of the Investment Company Act
and the statements relating to the Trust's investment objectives,
investment policies and investment restrictions as the same are set
forth in the Trust's current Registration Statement. The Manager shall
make decisions for the Trust as to the manner in which voting rights,
rights to consent to corporate action and any other rights pertaining
to the Trust's portfolio securities shall be exercised. Should the
Trustees at any time, however, make any definite determination as to
investment policy and notify the Manager thereof in writing, the
Manager shall be bound by such determination for the period, if any,
specified in such notice or until similarly notified that such
determination has been revoked. The Manager shall take, on behalf of
the Trust, all actions which it deems necessary to implement the
investment policies determined as provided above, and in particular to
place all orders for the purchase or sale of portfolio securities for
the Trust's account with brokers or dealers selected by it, and to
that end, the Manager is authorized as the agent of the Trust to give
instructions to the custodian of the Trust as to deliveries of
securities and payments of cash for the account of the Trust. In
connection with the selection of such brokers or dealers and the
placing of such orders with respect to assets of the Trust, the Manager
is directed at all times to seek to obtain execution and prices within
the policy guidelines determined by the Trustees as set forth in the
then current Registration Statement. Subject to this requirement and
the provisions of the Investment Company Act, the Securities Exchange
Act of 1934, as amended, and other applicable provisions of law, the
Manager may select brokers or dealers with which it or the Trust is
affiliated.

    (c) Affiliated Sub-Advisers. In carrying out its responsibilities
hereunder, the Manager may employ, retain or otherwise avail itself of
the services of other persons or entities including, without limitation,
affiliates of the Manager, on such terms as the Manager shall determine
to be necessary, desirable or appropriate. However, if the Manager
chooses to retain or avail itself of the services of another person or
entity to manage assets of the Trust, such other person or entity must
be (i) an affiliate of the Manager, (ii) retained at the Manager's own
cost and expense, and (iii) retained subject to the requirements of
Section 15 of the Investment Company Act. Retention of one or more
affiliated sub-advisers, or the employment or retention of other
persons or entities to perform services, shall in no way reduce the
responsibilities or obligations of the Manager under this Agreement and
the Manager shall be responsible for all acts and omissions of such
affiliated sub-advisers, or other persons or entities, in connection
with the performance of the Manager's duties hereunder.

    (d) Notice Upon Change in Partners of the Manager. The Manager is a
limited partnership and its limited partner is Merrill Lynch & Co.,
Inc. and its general partner is Princeton Services, Inc. The Manager
will notify the Trust of any change in the membership of the
partnership within a reasonable time after such change.

Article II
 Allocation of Charges and Expenses

    (a) The Manager. The Manager assumes and shall pay, or cause its
affiliates to pay, for maintaining the staff and personnel necessary to
perform its obligations under this Agreement, and shall, at its own
expense, provide the office space, facilities and necessary personnel
which it is obligated to provide under Article I hereof. The Manager
shall pay, or cause its affiliates to pay, compensation of all officers
of the Trust and all Trustees of the Trust who are affiliated persons
of the Manager or any sub-adviser, or of an affiliate of the Manager or
any sub-adviser.

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    (b) The Trust. The Trust assumes and shall pay or cause to be paid
all other expenses of the Trust, including, without limitation: taxes,
expenses for legal and auditing services, costs of printing proxies,
shareholder reports, copies of the Registration Statement, charges of
the custodian, any sub-custodian and transfer agent, expenses of
portfolio transactions, expenses of redemption of shares, Securities
and Exchange Commission fees, expenses of registering the shares under
Federal, state and foreign laws, fees and actual out-of-pocket expenses
of Trustees who are not affiliated persons of the Manager or any
sub-adviser, or of an affiliate of the Manager or any sub-adviser,
accounting and pricing costs (including the daily calculation of the
net asset value), insurance, interest, brokerage costs, litigation and
other extraordinary or non-recurring expenses, and other expenses
properly payable by the Trust. It is also understood that if the
Manager or any of its affiliates provide accounting services to the
Trust, the Trust will reimburse the Manager and its affiliates for
their costs incurred in providing accounting services to the Trust.

Article III
 Compensation of the Manager

    Management Fee. For the services rendered, the facilities furnished
and expenses assumed by the Manager, the Trust shall pay to the Manager
at the end of each calendar month a fee based upon the average daily
value of the net assets of the Trust, as determined and computed in
accordance with the description of the determination of net asset value
contained in the Registration Statement, at the annual rate of 0.50%
of the average daily net assets of the Trust, commencing on the day
following effectiveness hereof. If this Agreement becomes effective
subsequent to the first day of a month or shall terminate before the
last day of a month, compensation for that part of the month this
Agreement is in effect shall be prorated in a manner consistent with
the calculation of the fee as set forth above. Payment of the
Manager's compensation for the preceding month shall be made as
promptly as possible after completion of the computations contemplated
above. During any period when the determination of net asset value is
suspended by the Trustees, the net asset value of a share as of the
last business day prior to such suspension shall for this purpose be
deemed to be the net asset value at the close of each succeeding
business day until it is again determined.

Article IV
 Limitation of Liability of the Manager

    The Manager shall not be liable for any error of judgment or
mistake of law or for any loss arising out of any investment or for any
act or omission in the management of the Trust, except for willful
misfeasance, bad faith or gross negligence in the performance of its
duties, or by reason of reckless disregard of its obligations and
duties hereunder. As used in this Article IV, the term "Manager"
shall include any affiliates of the Manager performing services for the
Trust contemplated hereby and partners, directors, officers and
employees of the Manager and such affiliates.

Article V
 Activities of the Manager

    The services of the Manager to the Trust are not to be deemed to be
exclusive, and the Manager and each affiliate is free to render
services to others. It is understood that Trustees, officers, employees
and shareholders of the Trust are or may become interested in the
Manager and its affiliates, as directors, officers, employees, partners
and shareholders or otherwise, and that the Manager and directors,
officers, employees, partners and shareholders of the Manager and its
affiliates are or may become similarly interested in the Trust as
shareholders or otherwise.

Article VI
 Duration and Termination of this Agreement

    This Agreement shall become effective as of the date first above
written and shall remain in force until November 30, 2001, and
thereafter, but only so long as such continuance is specifically approved at 

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least annually by (i) the Trustees, or by the vote
of a majority of the outstanding voting securities of the Trust, and
(ii) a majority of those Trustees who are not parties to this Agreement
or interested persons of any such party cast in person at a meeting
called for the purpose of voting on such approval.

    This Agreement may be terminated at any time, without the payment
of any penalty, by the Trustees or by the vote of a majority of the
outstanding voting securities of the Trust, or by the Manager, on sixty
days' written notice to the other party. This Agreement shall
automatically terminate in the event of its assignment.

Article VII
 Amendments of this Agreement

    This Agreement may be amended by the parties only if such amendment
is specifically approved by (i) by the vote of a majority of
outstanding voting securities of the Trust, and (ii) a majority of
those Trustees who are not parties to this Agreement or interested
persons of any such party cast in person at a meeting called for the
purpose of voting on such approval.

Article VIII
 Definitions of Certain Terms

    The terms "vote of a majority of the outstanding voting
securities", "assignment," "affiliated person" and
"interested person," when used in this Agreement, shall have the
respective meanings specified in the Investment Company Act and the
rules and regulations thereunder, subject, however, to such exemptions
as may be granted by the Securities and Exchange Commission under said
Act.

Article IX
 Governing Law

    This Agreement shall be construed in accordance with laws of the
State of New York and the applicable provisions of the Investment
Company Act. To the extent that the applicable laws of the State of New
York, or any of the provisions herein, conflict with the applicable
provisions of the Investment Company Act, the latter shall
control.

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    IN WITNESS WHEREOF, the parties hereto have executed and delivered
this Agreement as of the date first above written. This Agreement may
be executed by the parties hereto on any number of counterparts, all of
which together shall constitute one and the same instrument.

	 	
MASTER PREMIER GROWTH TRUST

By:__________________________

     Title:

FUND ASSET MANAGEMENT, L.P.

By: PRINCETON SERVICES, INC.,
     General Partner

By:__________________________

     Title:

5<PAGE>   1
                                                                   EXHIBIT 10(d)

                                     (LOGO)

                                BANK OF MONTREAL

                            MID-TERM INCENTIVE PLAN

<PAGE>   2

                    BANK OF MONTREAL MID-TERM INCENTIVE PLAN

1.   Purpose. The Plan is intended to enhance the Bank's ability to attract
     and retain high quality employees and to provide a strong incentive to
     employees to achieve the Bank's governing objective of maximizing value for
     its shareholders.

2.   Definitions. As used in the Plan, the following terms have the
     respective meanings:

     "Account" means an account maintained for each Participating Employee on
     the books of the Bank which will be credited with Performance Share Units
     and Dividend Equivalents, in accordance with the terms of the Plan.

     "Allocation Date" means, for awards of Performance Share Units (if any)
     made in respect of a year, the date on which awards of those Performance
     Share Units are approved by the HRMCC.

     "Bank" means Bank of Montreal.

     "Board" means the Board of Directors of the Bank.

     "Common Share" means a common share of the Bank.

     "Performance Share Unit" means a bookkeeping entry equivalent in value to a
     Common Share, credited to a Participating Employee's Account in accordance
     with paragraph 4 of the Plan.

     "Dividend Equivalent" means a bookkeeping entry equivalent in value to a
     dividend paid on a Common Share, credited to a Participating Employee's
     Account in accordance with paragraph 8 of the Plan.

     "HRMCC" means the Human Resources and Management Compensation Committee of
     the Board.

     "Participating Employee" means an employee eligible to participate in the
     Plan in accordance with paragraph 3 of the Plan.

     "Payable Date" means the date on which the Performance Share Units held in
     a Participating  Employee's Account are payable in accordance with
     paragraph 7 of the Plan.

     "Peer Group" means, in respect of the awards made in the Bank's fiscal year
     2000, The Royal Bank of Canada, Canadian Imperial Bank of Commerce, The
     Bank of Nova Scotia, Toronto-Dominion Bank and National Bank of Canada. For
     future awards under the Plan, the HRMCC may modify the Peer Group by adding
     or subtracting such companies as it considers appropriate in its sole
     discretion.

<PAGE>   3

     "Peer Group Index" means the TSR of the Peer Group.

     "Performance Factor Schedule" means the schedule of Performance Factors set
     out herein:

<TABLE>
<CAPTION>
     Bank of Montreal TSR equals                          Performance Factor
     ---------------------------                          ------------------
     <S>                                                  <C>
     Peer Group Index plus 6% or more                            250%
     Peer Group Index plus 5%                                    225%
     Peer Group Index plus 4%                                    200%
     Peer Group Index plus 3%                                    175%
     Peer Group Index plus 2%                                    150%
     Peer Group Index plus 1%                                    125%
     Peer Group Index                                            100%
     Peer Group Index less 1%                                     75%
     Peer Group Index less 2%                                     50%
     Peer Group Index less more than 2%                            0%

</TABLE>

     Where the actual Bank of Montreal TSR amount falls between two of the
     percentage amounts indicated in the left hand column above, the
     corresponding actual Performance Factor shall be determined by
     interpolation of the two Performance Factors, in the right hand column
     above, corresponding to the two Bank of Montreal TSR amounts, in the left
     hand column, immediately above and below the actual Bank of Montreal TSR.
     For example, if the actual Bank of Montreal TSR is Peer Group Index plus
     1.5%, the actual Performance Factor is 137.5%, or if the actual Bank of
     Montreal TSR is Peer Group Index plus 1.75%, the actual Performance Factor
     is 143.75%.

     "Plan" means the Bank of Montreal Mid-Term Incentive Plan.

     "Share Price" means the closing price of a share on the Toronto Stock
     Exchange averaged over all trading days in the 90 day period immediately
     preceding either the Allocation Date or the Payable Date, as applicable.

     "TSR" (Total Shareholder Return) means the annualized total return on $100
     invested in either common shares of the Bank, or a basket of common shares
     of all companies in the Peer Group, as the case may be, including:

          (i)  any change in the Share Price between the Allocation Date and
               the Payable Date, plus

          (ii) the value of dividends paid on common shares over the period
               assuming these dividends are reinvested in additional common
               shares.

     Note: In the case of the Peer Group, the aforementioned $100 shall be
     divided by the number of companies in the Peer Group to determine the
     initial amount to be invested in common shares for each company in the Peer
     Group.

<PAGE>   4

3.   Participating Employees. HRMCC shall, in its sole discretion, determine
     which employees will participate in the Plan in any year and the amount of
     Performance Share Units to be awarded to Participating Employees. The HRMCC
     may delegate this authority to the Chief Executive Officer of the Bank,
     subject to any conditions it considers appropriate.

4.   Awards of Performance Share Units. Subject to receipt of the
     acknowledgement referred to in paragraph 5 of the Plan, the HRMCC shall
     make an annual determination, in its sole discretion, as to the number of
     Performance Share Units, if any, to be credited to each Participating
     Employee's Account. Any such Performance Share Units awarded in a year
     shall be valued based on the Share Price as of the Allocation Date.

5.   Acknowledgement. A Participating Employee shall complete and deliver a
     written acknowledgement in the form attached to the Plan (or a similar form
     as determined by the HRMCC) to the Executive Services Department of the
     Bank within 90 days of the date the Participating Employee receives advice
     of his or her award. If the acknowledgement is not so delivered within this
     time, the HRMCC reserves the right to revoke the crediting of Performance
     Share Units to the Participating Employee's Account.

6.   Taxes and Other Source Deductions. The Bank or its subsidiary, as
     applicable, shall be authorized to deduct from any amount paid under the
     Plan such taxes and other amounts as it may be required by law to withhold,
     in such manner as it determines (the "Applicable Withholding Taxes").

7.   Payable Date. Subject to the other terms of the Plan, Performance Share
     Units shall be payable on the third anniversary date after their Allocation
     Date and for purposes of this provision, Performance Share Units that have
     been awarded as Dividend Equivalents pursuant to paragraph 8 of the Plan
     shall be deemed to have the same Allocation Date as the Performance Share
     Units to which they relate.

8.   Award of Dividend Equivalents. Dividend Equivalents will be awarded in
     respect of Performance Share Units in a Participating Employee's Account on
     the same basis as dividends declared and paid on Common Shares, as if the
     Participating Employee was a shareholder of record of Common Shares on the
     relevant record date. These Dividend Equivalents will be credited to the
     Participating Employee's Account as additional Performance Share Units (or
     fractions thereof), with the number of additional Performance Share Units
     based on a) the actual amount of dividends that would have been paid if the
     Participating Employee had held Common Shares under the Plan on the
     applicable record date divided by b) the closing price for Common Shares on
     the Toronto Stock Exchange on the date on which the dividends on Common
     Shares are payable. For greater certainty, no Performance Share Units
     representing Dividend Equivalents will be credited to a Participating
     Employee's Account in relation to Performance Stock Units that have been
     previously cancelled or paid out of the Plan.

<PAGE>   5

9.   Adjustments and Reorganizations. In the event of any stock dividend,
     stock split, combination or exchange of shares, merger, consolidation,
     spin-off or other distribution (other than normal cash dividends) of Bank
     assets to shareholders, or any other change affecting shares, such
     proportionate adjustments, if any, as HRMCC in its discretion may deem
     appropriate to reflect such change, shall be made with respect to the
     number of Performance Share Units outstanding under the Plan. In the event
     the Bank is not the surviving entity of a merger, consolidation or
     amalgamation with another entity or in the event of liquidation,
     reorganization and in the absence of any surviving entity's assumption of
     outstanding awards made under the Plan, HRMCC may provide for appropriate
     settlements of Participating Employees' Accounts.

10.  Payments. As soon as practicable after each Payable Date, and in any
     event no later than December 31 of the third calendar year following the
     year in respect of which the award was made, a Participating Employee shall
     receive a lump sum payment equal to the amount obtained by multiplying the
     Share Price on the Payable Date by the number of Performance Share Units in
     the Participating Employee's Account that became payable on the Payable
     Date, multiplied by the applicable Performance Factor outlined in the
     Performance Factor Schedule corresponding to the applicable Bank of
     Montreal TSR, less any Applicable Withholding Taxes. Upon payment of the
     foregoing, the Performance Share Units upon which such payment was based
     shall be cancelled and no further payments shall be made from the Plan in
     relation to such Performance Share Units.

11.  Retirement, Long Term Disability or Death. If while employed by the
     Bank or its subsidiary, a Participating Employee either: (a) retires from
     employment with the Bank or its subsidiary or; (b) becomes eligible for
     long-term disability under the terms of a long-term disability plan
     sponsored by the Bank or its subsidiary or; (c) dies, before all of the
     Performance Share Units credited to the Participating Employee's Account
     have become payable or are cancelled pursuant to any other provision of the
     Plan, such Participating Employee shall be deemed to continue to be a
     Participating Employee for purposes of the Plan, but shall not be entitled
     to participate in any further grant of Performance Share Units under
     paragraphs 3 and 4. For greater certainty and for purposes of this
     paragraph, so long as a Participating Employee continues to be deemed a
     Participating Employee, paragraphs 8 and 10 apply to such Participating
     Employee. In the event of death, payment shall be made, when payable in
     accordance with paragraph 10 of the Plan, to the deceased Participating
     Employee's estate or legal representative thereof.

12.  Termination Without Cause. If a Participating Employee is terminated
     without cause from the Bank or its subsidiary as determined by the HRMCC in
     its sole discretion before all of the Performance Share Units credited to
     the Participating Employee's Account have become payable or are cancelled
     pursuant to any other provision of the Plan, such Participating Employee
     shall be deemed to continue to be a Participating Employee for purposes of
     the Plan but shall not be entitled to participate in any further grant of
     Performance Share Units under paragraphs 3 and 4. For greater certainty, so
     long as a Participating Employee continues to be deemed a Participating
     Employee for purposes of this paragraph, paragraphs 8, 10 and paragraph 11
     relating to death of the Participating Employee apply to such Participating
     Employee.

<PAGE>   6

13.  Other Termination of Employment. If the employment of a Participating
     Employee with the Bank or its subsidiary is terminated for cause or for any
     reason other than by retirement, long term disability, death or termination
     without cause, as determined by the HRMCC in its sole discretion, as
     described above in paragraphs 11 and 12, before all of the Performance
     Share Units credited to the Participating Employee's Account have become
     payable or are cancelled pursuant to any other provision of the Plan, such
     Participating Employee shall forfeit any Performance Share Units that
     remain credited in his or her Account and shall not be entitled to any
     Dividend Equivalents in relation to such forfeited Performance Share Units
     and shall not be entitled to any further payments from the Plan. Such
     forfeited Performance Share Units and the related Dividend Equivalents
     shall be cancelled.

14.  Unfunded Plan. Unless otherwise determined by the HRMCC, the Plan shall
     be unfunded. To the extent any Participating Employee or his or her estate
     holds any rights by virtue of a grant of Performance Share Units under the
     Plan, such rights (unless otherwise determined by the HRMCC) shall be no
     greater than the rights of an unsecured creditor of the Bank.

15.  Administration. The Plan shall be administered by the senior officer
     responsible for Human Resources of the Bank. Such officer is authorized to
     interpret the Plan, to establish any rules and regulations relating to the
     Plan that are not inconsistent with the Plan, to amend or rescind any such
     rules and regulations from time to time, and to make any other
     determinations that he or she deems necessary or desirable for the
     administration of the Plan.

16.  Plan Amendment. The HRMCC may amend the Plan as deemed necessary or
     desirable; however, no such amendment shall, in the opinion of the HRMCC
     adversely affect the interests of the Participating Employees or cause or
     permit Performance Share Units and the related Dividend Equivalents held in
     Participating Employees' Accounts at the time of such amendment to be
     converted to an arrangement that is of less than comparable value to the
     Participating Employees. The HRMCC may correct any defect or supply any
     omission or reconcile any inconsistency in the Plan in the manner and to
     the extent deemed necessary or desirable.

17.  Plan Termination. The HRMCC may decide to discontinue granting awards
     under the Plan at any time in which case no further Performance Share Units
     shall be awarded or credited under paragraphs 3 and 4 of the Plan. Any
     Performance Share Units which remain outstanding in a Participating
     Employee's Account at that time shall continue to be dealt with subject to
     the terms of the Plan. For greater certainty, Dividend Equivalents shall
     continue to be awarded, as appropriate, in respect of such outstanding
     Performance Share Units pursuant to paragraph 8 of the Plan. The Plan shall
     terminate when all payments owing pursuant to paragraph 10 of the Plan have
     been made and all Performance Share Units have been cancelled in all
     Participating Employees' Accounts, or on any earlier date as determined by
     the HRMCC; however, if terminated on an earlier date, any Performance Share
     Units held in Participating Employees' Accounts at the time of termination
     shall be converted to an arrangement that, in the opinion of the HRMCC, is
     of comparable value to the Participating Employees.

<PAGE>   7

18.  Final Determination. Any determination or decision by or opinion of the
     HRMCC or the Chief Executive Officer of the Bank or the senior officer
     responsible for Human Resources of the Bank made or held pursuant to the
     terms of the Plan shall be final, conclusive and binding on all parties
     concerned. All rights, entitlements and obligations of Participating
     Employees under the Plan are set forth in the terms of the Plan and cannot
     be modified by any other documents, statements or communications, except by
     Plan amendments referred to in paragraph 16 of the Plan.

19.  No Right to Employment. Participation in the Plan shall not be
     construed to give any Participating Employee a right to be retained in the
     employment of the Bank or a subsidiary of the Bank.

20.  No Other Benefit. No amount will be paid to, or in respect of, a
     Participating Employee under the Plan to compensate for a downward
     fluctuation in the price of Common Shares, nor will any other form of
     benefit be conferred upon, or in respect of, a Participating Employee for
     such purpose.

21.  No Shareholder Rights. Under no circumstances shall Performance Share
     Units be considered Common Shares nor shall they entitle any Participating
     Employee to exercise voting rights or any other rights attaching to the
     ownership of Common Shares, nor shall any Participating Employee be
     considered the owner of Common Shares by virtue of the award of Performance
     Share Units.

22.  Determination of Value if Common Shares Not Publicly Traded. Should
     Common Shares no longer be publicly traded at any time such that the amount
     of payment cannot be determined in accordance with the formula set out in
     the Plan, such amount shall be determined by the HRMCC.

23.  Reorganization of the Bank. The existence of any Performance Share
     Units shall not affect in any way the right or power of the Bank or its
     shareholders to make or authorize any adjustment, recapitalization,
     reorganization or other change in the Bank's capital structure or its
     business, or any amalgamation, combination, merger or consolidation
     involving the Bank or to create or issue any bonds, debentures, shares or
     other securities of the Bank or the rights and conditions attaching thereto
     or to affect the dissolution or liquidation of the Bank or any sale or
     transfer of all or any part of its assets or business, or any other
     corporate act or proceeding, whether of a similar nature or otherwise.

24.  Successors and Assigns. The Plan shall be binding on all successors and
     assigns of the Bank and its subsidiaries.

25.  General Restrictions and Assignment. Except as required by law, the
     rights of a Participating Employee under the Plan are not capable of being
     anticipated, assigned, transferred, alienated, sold, encumbered, pledged,
     mortgaged or charged and are not capable of being subject to attachment or
     legal process for the payment of any debts or obligations of the
     Participating Employee.

26.  Interpretation. In this text words importing the singular meaning shall
     include the plural and vice versa, and words importing the masculine shall
     include the feminine and neuter genders.

<PAGE>   8

27.  Governing Law. The validity, construction and effect of the Plan and
     any actions taken or relating to the Plan shall be governed by the laws of
     the Province of Ontario and the federal laws of Canada applicable therein.

28.  Currency. All amounts paid or values to be determined under the Plan
     shall be in Canadian dollars.

29.  Severability. The invalidity or unenforceability of any provision of
     the Plan shall not affect the validity or enforceability of any other
     provision and any invalid or unenforceable provision shall be severed from
     the Plan.

30.  Effective Date. The Plan is effective as of December 1, 1999.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}]]