Document:

FORM OF PERFORMANCE SHARE AGREEMENT

          THIS AGREEMENT, dated as of the ___ day of __________ 2005, between
DYCOM INDUSTRIES, INC., a Florida corporation (the "Company"), and
_______________ (the "Participant").

          WHEREAS, the Participant is an officer or key employee of the Company
or one of its Affiliates and, subject to the terms and conditions set forth
herein, the Company desires to provide the Participant with an additional
incentive to remain in its employ and to increase his or her interest in the
success of the Company by granting the Participant an Award to receive a certain
number of shares of common stock, par value $.0331/3 per share, of the Company
(the "Common Stock") under the Company's 2003 Long-Term Incentive Plan (the
"Plan"), upon the Company's achievement of certain Performance Targets (as set
forth below) during the applicable Performance Period ("Performance Shares");

          NOW, THEREFORE, in consideration of the covenants and agreements
herein contained, the parties hereto agree as follows:

     1.   Definitions; Incorporation of Plan Terms.
          ----------------------------------------

          Capitalized terms used herein without definition shall have the
meanings assigned to them in the Plan, a copy of which is attached hereto. This
Award Document and the Performance Shares shall be subject to the Plan, the
terms of which are incorporated herein by reference, and in the event of any
conflict or inconsistency between the Plan and this Award Document, the Plan
shall govern.

     2.   Grant of Performance Shares.
          ---------------------------

          Subject to the terms and conditions contained herein and in the Plan,
the Company hereby grants to the Participant the Target Number of Performance
Shares specified at the foot of the signature page hereof. For purposes of the
Plan and this Award Document, the Grant Date is the date specified at the foot
of the signature page hereof.

     3.   Vesting of Performance Shares.
          -----------------------------

          (a) Annual Vesting. Subject to the terms and conditions contained
     herein and in the Plan, the Performance Shares shall vest and become
     non-forfeitable in substantially equal installments on each of December 15,
     2006, December 15, 2007 and December 15, 2008 (each, a "Vesting Date"),
     based on the level of the applicable Performance Targets set forth on
     Appendix A hereto that are attained with respect to the applicable Vesting
     Date and shall be determined by the (i) number of Performance Shares that
     are subject to vesting on such Vesting Date, multiplied by (ii) applicable
     Performance Leverage Factor ("PLF") shown in Appendix A for the attained
     level of the Performance Targets; provided, however, that the Participant
     is employed by the Company or an Affiliate on the applicable Vesting Date
     (each, an "Annual Award").

          (b) Three Year Vesting. Subject to the terms and conditions contained
     herein and in the Plan, the Participant shall also be eligible to receive
     an additional number of

<PAGE>

     Performance Shares on each Vesting Date (the "Three Year Award") based on
     the level of the applicable Performance Targets set forth on Appendix B
     hereto that are attained with respect to the immediate three completed
     fiscal years prior to the applicable Vesting Date and shall be determined
     by the (i) number of Performance Shares that actually vest with respect to
     the Annual Award on such Vesting Date pursuant to Section 3(a) above,
     multiplied by (ii) applicable PLF shown in Appendix B for the attained
     level of the Performance Targets; provided, however, that the Participant
     is employed by the Company or an Affiliate on the applicable Vesting Date.
     Notwithstanding the foregoing, in no event shall a Participant be entitled
     to a Three Year Award if the Participant does not receive an Annual Award
     with respect to the applicable Vesting Date.

          (c) Fractional Shares. Any fractional Performance Shares which become
     distributable at the time such Performance Shares vest shall be rounded up
     or down to the nearest whole share of Common Stock.

     4.   Termination of Employment.
          -------------------------

          Except to the extent otherwise provided by the Plan or this Award
Document, in the event of the Participant's termination of employment for any
reason prior to an applicable Vesting Date, the Participant shall immediately
forfeit all unvested Performance Shares as of the date of such termination.

     5.   Nontransferability of the Performance Shares.
          --------------------------------------------

          Unless determined otherwise by the Committee, Performance Shares may
not be sold, pledged, assigned, hypothecated, transferred or disposed of in any
manner, prior to the date that such Performance Shares become vested and
non-forfeitable; provided, however, that Performance Shares shall be
transferable, in whole or in part, with the written consent of the Committee, to
trusts established wholly or in part for the benefit of the Participant's
immediate family members. Such transfers are subject to the terms and conditions
of the Plan and this Award Document. The restrictions on transferability set
forth above shall not apply to Performance Shares after the date that such
Performance Shares becomes vested and non-forfeitable as set forth herein.

     6.   Rights as a Stockholder.
          -----------------------

          The Participant shall have, with respect to the Performance Shares,
all of the rights of a stockholder of the Company, including, if applicable, the
right to vote the Performance Shares and to receive any cash dividends, subject
to the restrictions set forth in the Plan and this Award Document.

     7.   Dividends and Distributions.
          ---------------------------

          Any Common Stock or other securities of the Company received by the
Participant as a result of a distribution to holders of Performance Shares or as
a dividend on the Performance Shares shall be subject to the same restrictions
as such Performance Shares, and all references to Performance Shares hereunder
shall be deemed to include such Common Stock or other securities.

                                       2
<PAGE>

     8.   Issuance of Certificates.
          ------------------------

          At the time the Performance Shares are granted, or as promptly as
practicable thereafter, Participant shall be issued certificates in respect of
the Performance Shares. Such certificates shall be held in custody by the
Company until the Performance Targets have been satisfied and that, as a
condition of any award of Performance Shares, the Participant shall deliver a
stock power, endorsed in blank, relating to the Common Stock covered by such
award.

     9.   Taxes and Withholdings.
          ----------------------

          No later than the date as of which an amount first becomes includable
in the gross income of the Participant for applicable income tax purposes with
respect to Performance Shares, the Participant shall pay to the Company or make
arrangements satisfactory to the Committee regarding payment of any federal,
state or local taxes of any kind required by law to be withheld with respect to
such amount.

          Unless otherwise determined by the Committee, in accordance with rules
and procedures established by the Committee, the minimum required withholding
obligations may be settled with Common Stock, including Common Stock that is
part of the Award that gives rise to the withholding requirement. The obligation
of the Company under this Award Document shall be conditional upon such payment
or arrangements and the Company shall, to the extent permitted by law, have the
right to deduct any such taxes from any payment of any kind otherwise due to the
Participant.

     10.  Notices.
          -------

          All notices and other communications under this Award Document shall
be in writing and shall be given by hand delivery to the other party or by
facsimile, first class mail, overnight courier, or registered or certified mail,
return receipt requested, postage prepaid, addressed as follows:

          If to the Participant:

          at the last known address on record at the Company.

                                       3
<PAGE>

          If to the Company:

          11770 U.S. Highway 1
          Suite 101
          Palm Beach Gardens, Florida 33408
          Attention:  General Counsel

or to such other address or facsimile number as any party shall have furnished
to the other in writing in accordance with this Section 10. Notice and
communications shall be effective when actually received by the addressee.

     11.  Successor.
          ---------

          Except as otherwise provided hereunder, this Award Document shall be
binding upon and shall inure to the benefit of any successor or successors of
the Company, and to any transferee or successor of the Participant pursuant to
Section 5.

     12.  Governing Law.
          -------------

          The interpretation, performance and enforcement of this Award Document
shall be governed by the laws of the State of Florida without reference to
principles of conflict of laws, as applied to contracts executed in and
performed wholly within the State of Florida.

     13.  Severability.
          ------------

          If any provision of this Award Document shall be held illegal or
invalid for any reason, such illegality or invalidity shall not affect the
remaining provisions of this Award Document, but this Award Document shall be
construed and enforced as if such illegal or invalid provision had never been
included herein.

     14.  Corporate Changes; Changes in Capitalization.
          --------------------------------------------

          (a) Neither the Plan or this Award Document shall affect or restrict
in any way the right or power of the Company or its shareholders to make or
authorize any adjustment, recapitalization, reorganization or other change in
the capital structure or business of the Company, or any merger or consolidation
of the Company, or any issue of stock or of options, warrants or rights to
purchase stock or of bonds, debentures, preferred or prior preference stocks
whose rights are superior to or affect the Common Stock or the rights thereof or
which are convertible into or exchangeable for Common Stock, or the dissolution
or liquidation of the Company, or any sale or transfer of all or any part of the
assets or business of the Company, 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 character or otherwise.

          (b) The number and kind of shares authorized for issuance under the
Plan, including the maximum number of shares available under the special limits
provided for in the Plan, may be equitably adjusted in the sole discretion of
the Committee in the event of a stock split, stock dividend, recapitalization,
reorganization, merger, consolidation, extraordinary dividend, split-up,
spin-off, combination, exchange of shares, warrants or rights offering to

                                       4
<PAGE>

purchase Common Stock at a price substantially below Fair Market Value or other
similar corporate event affecting the Common Stock in order to preserve, but not
increase, the benefits or potential benefits intended to be made available under
the Plan. In addition, upon the occurrence of any of the foregoing events, the
number of Performance Shares will be equitably adjusted (including by payment of
cash to the Participant) in order to preserve the benefits or potential benefits
intended to be made available to the Participant with respect to such
Performance Shares. The determination as to what adjustments shall be made in
order to preserve the benefits or potential benefits intended to be made
available to the Participant with respect to such Performance Shares shall be
made by the Committee, in its sole discretion, and such determination shall be
final and binding on the Company and the Participant. Unless otherwise
determined by the Committee, such adjusted Performance Shares shall be subject
to the same restrictions and vesting or settlement schedule to which it is
subject.

     15. Adjustment of Performance Targets and Award. The Committee shall have
the right to adjust the Performance Targets and the Award (either up or down) if
it determines that an extraordinary corporate event such as a material
acquisition or divestiture, change in the capital structure of the Company or
unanticipated business conditions have materially affected the fairness of the
Performance Targets. In addition, Performance Targets and Awards shall be
calculated without regard to any changes in accounting standards that may be
required as a result of changes in generally accepted accounting principles
after such Performance Targets or Awards are established.

     16.  Exchange Act.
          ------------

          Notwithstanding anything contained in the Plan or this Award Document
to the contrary, if the consummation of any transaction under the Plan or this
Award Document would result in the possible imposition of liability on the
Participant pursuant to Section 16(b) of the Exchange Act, the Committee shall
have the right, in its sole discretion, but shall not be obligated, to defer
such transaction to the extent necessary to avoid such liability, but in no
event for a period in excess of 180 days.

     17.  Amendment.
          ---------

          Notwithstanding anything herein to the contrary, the Board or the
Committee may, at any time, amend or modify this Award Document; provided,
however, that no amendment or modification of this Award Document shall
materially and adversely alter or impair the rights of the Participant without
the consent of the Participant. The waiver by either party of compliance with
any provision of this Award Document shall not operate or be construed as a
waiver of any other provision of this Award Document, or of any subsequent
breach by such party of a provision of this Award Document.

     18.  No Rights to Future Awards or Continued Employment.
          --------------------------------------------------

          The Participant shall not have any claim or right to receive or be
eligible to receive any additional Awards under the Plan. Neither the Plan nor
this Award Document nor any action taken or omitted to be taken hereunder or
thereunder shall be deemed to create or confer on the Participant any right to
be retained in the employ of the Company or to interfere

                                       5
<PAGE>

with or to limit in any way the right of the Company to terminate the employment
of the Participant at any time.

     19.  Acceptance and Acknowledgement of Award.
          ---------------------------------------

          The Performance Targets and the details outlined in this Award
Document should not be discussed with, shared with, photocopied or distributed
to others. By signing and returning this Award Document, you are agreeing to all
of the terms contained in this Award Document, including, but not limited to,
the terms related to confidentiality. Participation in this program and its
details are highly confidential and may not be discussed by a Participant with
anyone other than the Participant's spouse or immediate family or financial or
legal advisors. Breach of this confidentiality condition could affect the amount
of a Participant's actual Award.

     20.  Entire Agreement.
          ----------------

          This Award Document and the Plan set forth the entire agreement and
understanding between the parties hereto with respect to the matters covered
herein, and supersede all prior agreements and understandings concerning such
matters. This Award Document may be executed in one or more counterparts, each
of which shall be deemed to be an original, but all such counterparts shall
together constitute one and the same agreement. The headings of sections and
subsections herein are included solely for convenience of reference and shall
not affect the meaning of any of the provisions of this Award Document.

          IN WITNESS WHEREOF, the Company has caused this Award Document to be
executed by its duly authorized officer and the Participant has executed this
Award Document, both as of the day and year first above written.

                                        DYCOM INDUSTRIES, INC.

                                        By:
                                           -------------------------------------
                                            Name:  Steven Nielsen
                                            Title:    President & CEO

                                        PARTICIPANT

                                         ---------------------------------------
                                         Name:
                                         Address:

Target Number of Performance Shares:   ______

Date of Grant:
                --------------------

                                       6
<PAGE>

                                   APPENDIX A
                                   ----------

                        Annual Award Performance Targets

                ----------------------------------------------------------------

                 Pre-Tax Income Before AI     Operating Cash Flow Ratio
                           for                           for
                  Applicable Fiscal Year        Applicable Fiscal Year     PLF

--------------------------------------------------------------------------------
Fiscal 2006

--------------------------------------------------------------------------------
Fiscal 2007

--------------------------------------------------------------------------------
Fiscal 2008

--------------------------------------------------------------------------------

     For purposes of this Award Document, the following terms are defined as
     follows:

     "Operating Cash Flow Ratio" means the ratio of Operating Cash Flow to Net
     Income Before AI.

     "PLF" means Performance Leverage Factor.

     The following elements will be taken from the Company's audited
     consolidated financial statements:

          1.   Operating cash flow ("Operating Cash Flow")

          2.   Pre-Tax Income before asset impairments and before any amount
               recorded for Performance Share compensation ("Pre-Tax Income
               Before AI")

          3.   Net income before asset impairments and before any amount
               recorded for Performance Share compensation ("Net Income Before
               AI")

          For purposes of this Award Document, Operating Cash Flow Ratio and
Pre-Tax Income Before AI will be rounded to the nearest one hundredth of a
percentage point, with five thousandths of a percentage point being rounded
upwards (e.g., 4.995% being rounded up to 5.0%).

                                      A-1
<PAGE>

                                   APPENDIX B
                                   ----------

                      Three-Year Award Performance Targets

             -------------------------------------------------------------------

                 Pre-Tax Income Before AI      Operating Cash Flow Ratio
                           for                            for
              Applicable Fiscal Year Period      Applicable Fiscal Year     PLF
                                                         Period

--------------------------------------------------------------------------------
 Fiscal
2004-2006

--------------------------------------------------------------------------------
 Fiscal
2005-2007

--------------------------------------------------------------------------------
 Fiscal
2006-2008

--------------------------------------------------------------------------------

                                      B-1<PAGE>

                                                                    Exhibit 10.1

                       AMERICAN INTERNATIONAL GROUP, INC.

                            2005 SENIOR PARTNERS PLAN
                            -------------------------

1.   PURPOSE

     The Compensation Committee of the Board of Directors (the "Committee") of
American International Group, Inc. ("AIG") has determined that certain key
employees of AIG and its subsidiaries (together, the "Employer") contribute
substantially to the long-term growth and profitability of AIG. AIG has created
this AIG 2005 Senior Partners Plan (this "Plan") to reward these individuals and
to provide incentives for their continued contribution to the long-term
performance of AIG.

2.   SPUS AND PARTICIPANTS

      A.    2005 Senior Partner Units. Senior Partner Units ("SPUs") issued
            under this Plan will entitle holders to receive cash distributions
            from AIG, subject to the terms and conditions of this Plan.

      B.    Participants. The Committee will determine (1) the key employees of
            the Employer who will be awarded SPUs under this Plan (the
            "Participants") and (2) the number of SPUs held by each Participant.
            It is expected that no SPUs will be awarded under this Plan after
            December 31, 2005.

      C.    Maximum Number of SPUs. A maximum of 30,000 SPUs may be awarded.

3.    VALUE AMOUNT PER SPU

      Each SPU will entitle a Participant to receive a cash distribution of
$2,200 (the "2005 SPU Value Amount") from AIG, subject to the terms and
conditions of this Plan.

4.    VESTING AND PAYOUTS OF 2005 SPU VALUE AMOUNT

      A.    General. The 2005 SPU Value Amount of each SPU will be paid out to
            Participants in cash promptly after January 1, 2011 (the "Scheduled
            Payment Date"). Except as provided in Sections 4B and 6A, if a
            Participant's employment with the Employer is terminated for any
            reason, the Participant's rights in respect of any 2005 SPU Value
            Amount that would be payable on the Scheduled Payment Date will be
            forfeited and terminate.

      B.    Death, Disability or Retirement after Age 65. If a Participant dies,
            becomes subject to permanent disability or retires at or after age
            65, in each case while actively employed by the Employer, any
            remaining unpaid 2005 SPU Value Amount will be paid to the
            Participant or his/her estate or guardian, as the case may be,
            promptly following

<PAGE>

            such event. For this purpose, "permanent disability" has the meaning
            defined in the American International Group, Inc. Group Long-Term
            Insurance Policy as in effect on the relevant date (or, if none,
            will be determined by the Committee in its sole discretion).

      C.    Election to Delay Payment. Participants may, in the Committee's sole
            discretion, be permitted to elect to defer receipt of the 2005 SPU
            Value Amount under a separate AIG deferral program.

5.    DIVIDEND-RELATED PAYMENTS

      A.    General. Beginning in 2006, each Participant will be paid a cash
            dividend-related amount on March 31, June 30, September 30 and
            December 31 based upon their unpaid 2005 SPU Value Amount. The
            quarterly dividend-related payment for each Participant will equal
            (1) his or her aggregate unpaid 2005 SPU Value Amount at the
            beginning of the quarter multiplied by (2) the total cash dividends
            AIG pays on its common stock during the quarter divided by (3) the
            Adjusted Book Value at the beginning of the quarter.

      B.    Definitions. "Adjusted Book Value" means, for any date, the total
            AIG shareholders' equity as of the date minus Accumulated Other
            Comprehensive Income (or plus Accumulated Other Comprehensive Loss)
            as of such date (as reported in AIG's Consolidated Statement of
            Shareholders' Equity) with such adjustments as the Committee may
            make in its sole discretion.

      C.    Termination of Employment. If a Participant's employment with the
            Employer is terminated for any reason, the Participant's rights to
            receive any further dividend-related payment will terminate.

6.    ADMINISTRATION OF THIS PLAN

      A.    General. This Plan will be administered by the Committee. Actions of
            the Committee may be taken by the vote of a majority of its members.
            The Committee may allocate among its members and delegate to any
            person who is not a member of the Committee any of its
            administrative responsibilities. The Committee will have power to
            interpret this Plan, to make regulations for carrying out its
            purpose and to make all other determinations in connection with its
            administration, all of which will, unless otherwise determined by
            the Committee, be final, binding and conclusive. In addition, the
            Committee may, in its sole discretion, reinstate any SPUs, 2005 SPU
            Value Amounts or dividend-related payments that would otherwise have
            been terminated and forfeited because of a Participant's termination
            of employment, if the Participant complies with any covenants,
            agreements or conditions that the Committee may impose.

      B.    Non-Uniform Determinations. The Committee's determinations under
            this Plan need not be uniform and may be made by it

                                       2
<PAGE>

            selectively among persons who receive, or are eligible to receive,
            SPUs under this Plan (whether or not such persons are similarly
            situated). Without limiting the generality of the foregoing, the
            Committee will be entitled, among other things, to make non-uniform
            and selective determinations as to (1) the persons to become
            Participants and (2) whether a Participant's employment with the
            Employer has been terminated (as described in Section 6C).

      C.    Determination of Employment. The Committee will have the right to
            determine itself with respect to any Participant the commencement
            date or termination date of the Participant's employment with the
            Employer solely for purposes of this Plan, separate and apart from
            any determination as may be made by AIG or its subsidiaries with
            respect to the individual's employment.

      D.    Amendments. The Committee will have the power to amend this Plan in
            any manner and at any time, including in a manner adverse to the
            rights of the Participants.

      E.    No Liability. No member of the Board of Directors of AIG or the
            Committee or any employee of the Employer (each, a "Covered Person")
            will have any liability to any person (including any Participant)
            for any action taken or omitted to be taken or any determination
            made in good faith with respect to this Plan or any Participant's
            participation in it. Each Covered Person will be indemnified and
            held harmless by AIG against and from any loss, cost, liability, or
            expense (including attorneys' fees) that may be imposed upon or
            incurred by such Covered Person in connection with or resulting from
            any action, suit or proceeding to which such Covered Person may be a
            party or in which such Covered Person may be involved by reason of
            any action taken or omitted to be taken under this Plan and against
            and from any and all amounts paid by such Covered Person, with AIG's
            approval, in settlement thereof, or paid by such Covered Person in
            satisfaction of any judgment in any such action, suit or proceeding
            against such Covered Person, provided that AIG will have the right,
            at its own expense, to assume and defend any such action, suit or
            proceeding and, once AIG gives notice of its intent to assume the
            defense, AIG will have sole control over such defense with counsel
            of AIG's choice. The foregoing right of indemnification will not be
            available to a Covered Person to the extent that a court of
            competent jurisdiction in a final judgment or other final
            adjudication, in either case, not subject to further appeal,
            determines that the acts or omissions of such Covered Person giving
            rise to the indemnification claim resulted from such Covered
            Person's bad faith, fraud or willful misconduct. The foregoing right
            of indemnification will not be exclusive of any other rights of
            indemnification to which Covered Persons may be entitled under AIG's
            Restated Certificate of Incorporation or Bylaws, as a matter of law,
            or otherwise, or any other power that AIG may have to indemnify such
            persons or hold them harmless.

                                       3
<PAGE>

      F.    Other. In furtherance of AIG's policies, notwithstanding Section 2,
            if any Participant is a shareholder in C.V. Starr & Co., Inc. on
            March 31, 2006, such person will cease to be a Participant, his or
            her SPUs will be forfeited and terminate and he or she will have no
            rights under this Plan (in each case, unless the Committee
            determines otherwise).

7.    GENERAL RULES

      A.    No Funding. AIG will be under no obligation to fund or set aside
            amounts to pay obligations under this Plan. Participants will have
            no rights to the 2005 SPU Value Amount other than as a general
            unsecured creditor of AIG.

      B.    Tax Withholding. As a condition to the payment of any amount under
            this Plan or in connection with any other event that gives rise to a
            federal or other governmental tax withholding obligation (1) AIG may
            deduct or withhold (or cause to be deducted or withheld) from any
            payment to a Participant whether or not pursuant to this Plan or (2)
            the Committee will be entitled to require that the Participant remit
            cash to AIG (through payroll deduction or otherwise), in each case,
            in an amount sufficient in the opinion of AIG to satisfy such
            withholding obligation.

      C.    No Rights to Other Payments. The provisions of this Plan provide no
            right or eligibility to a Participant to any other payouts from AIG
            or its subsidiaries under any other alternative plans, schemes,
            arrangements or contracts AIG may have with any employees or group
            of employees of AIG or its subsidiaries.

      D.    No Effect on Benefits. Grants and payments under this Plan will
            constitute a special discretionary incentive payment to the
            Participants and will not be required to be taken into account in
            computing the amount of salary or compensation of the Participants
            for the purpose of determining any contributions to or any benefits
            under any pension, retirement, profit-sharing, bonus, life
            insurance, severance or other benefit plan of the Employer or under
            any agreement with the Participant, unless the Employer specifically
            provides otherwise.

      E.    Section 409A Payment Delay. Notwithstanding any provision to the
            contrary in this Plan, to the extent any payment to be made to a
            Participant in connection with the Participant's termination of
            service with the Employer would be subject to the additional tax of
            Section 409A of the Internal Revenue Code (the "Code"), the payment
            will be delayed until six months after a Participant's termination
            of service with the Employer (or earlier death or disability (within
            the meaning of Section 409A of the Code)).

      F.    Severability. If any of the provisions of this Plan is finally held
            to be invalid, illegal or unenforceable (whether in whole or in
            part), such provision will be deemed modified to the extent, but
            only to the

                                       4
<PAGE>

            extent, of such invalidity, illegality or unenforceability and the
            remaining provisions will not be affected thereby; provided, that if
            any of such provisions is finally held to be invalid, illegal, or
            unenforceable because it exceeds the maximum scope determined to be
            acceptable to permit such provision to be enforceable, such
            provision will be deemed to be modified to the minimum extent
            necessary to modify such scope in order to make such provision
            enforceable hereunder.

      G.    Entire Agreement. This Plan contains the entire agreement of the
            parties with respect to the subject matter thereof and supersedes
            all prior agreements, promises, covenants, arrangements,
            communications, representations and warranties between them, whether
            written or oral with respect to the subject matter thereof.

      H.    Waiver of Claims. Each Participant recognizes and agrees that prior
            to being selected by the Committee to receive a SPU he or she has no
            right to any benefits under this Plan. Accordingly, in consideration
            of the Participant's receipt of any SPU hereunder, he or she
            expressly waives any right to contest the amount of any SPU, the
            terms of this Plan, any determination, action or omission hereunder
            by the Committee or AIG or any amendment to this Plan.

      I.    No Third Party Beneficiaries. Except as expressly provided therein,
            this Plan will not confer on any person other than AIG and the
            Participant any rights or remedies thereunder. The exculpation and
            indemnification provisions of Section 6E will inure to the benefit
            of a Covered Person's estate and beneficiaries and legatees.

      J.    AIG's Successors and Assigns. The terms of this Plan will be binding
            upon and inure to the benefit of AIG and its successors and assigns.

      K.    Right of Offset. AIG will have the right to offset against the
            obligation to pay an amount to any Participant, any outstanding
            amounts (including, without limitation, travel and entertainment or
            advance account balances, loans or amounts repayable to it pursuant
            to tax equalization, housing, automobile or other employee programs)
            such Participant then owes to it.

      L.    Nonassignability. The SPUs, 2005 SPU Value Amounts and
            dividend-related payments will not be assignable, transferable,
            pledged, hedged or in any manner alienated, whether by operation of
            law or otherwise, except as a result of death or incapacity where
            such rights are passed pursuant to a will or by operation of law.
            The Committee may in its sole discretion acknowledge the written
            direction by a Participant to transfer his/her SPUs under this Plan
            to a revocable grantor trust in such form and on such conditions as
            the Committee may require in its sole discretion. Any assignment,
            transfer, pledge, or other disposition in violation of

                                       5

<PAGE>

            the provisions of this Section 7L will be null and void and any SPUs
            which are hedged in any manner will immediately be forfeited.

      M.    Right to Discharge. Nothing contained in this Plan or in any SPU
            will confer on any Participant any right to be continued in the
            employ of the Employer or to be included in any future plans of a
            similar nature.

      N.    Consent. If the Committee will at any time determine that any
            consent (as hereinafter defined) is necessary or desirable as a
            condition of, or in connection with, the granting of any SPUs,
            determination of the 2005 SPU Value Amount or the payment of any
            amount under this Plan, or the taking of any other action thereunder
            (each such action, a "plan action"), then such plan action will not
            be taken, in whole or in part, unless and until such consent will
            have been effected or obtained to the full satisfaction of the
            Committee. The term "consent" as used in this Section 7N includes
            (1) any and all listings, registrations or qualifications in respect
            thereof upon any securities exchange or under any federal, state, or
            local law, or law, rule or regulation of a jurisdiction outside the
            United States, (2) any other matter, which the Committee may deem
            necessary or desirable to comply with the terms of any such listing,
            registration or qualification or to obtain an exemption from the
            requirement that any such listing, qualification or registration be
            made, (3) any and all other consents, clearances and approvals in
            respect of a plan action by any governmental or other regulatory
            body or any stock exchange or self-regulatory agency and (4) any and
            all consents required by the Committee.

      O.    Adoption. This Plan was adopted on December 14, 2005 by the
            Committee.

8.    DISPUTES

      A.    Governing Law. This Plan will be governed by and construed in
            accordance with the laws of the State of New York, without regard to
            principles of conflict of laws.

      B.    Arbitration. Subject to the provisions of this Section 8, any
            dispute, controversy or claim between AIG and a Participant, arising
            out of or relating to or concerning this Plan or any SPU, will be
            finally settled by arbitration in New York City before, and in
            accordance with the rules then obtaining of, the New York Stock
            Exchange, Inc. (the "NYSE") or, if the NYSE declines to arbitrate
            the matter (or if the matter otherwise is not arbitrable by it), the
            American Arbitration Association (the "AAA") in accordance with the
            commercial arbitration rules of the AAA. Prior to arbitration, all
            claims maintained by a Participant must first be submitted to the
            Committee in accordance with claims procedures determined by the
            Committee.

                                       6

<PAGE>

      C.    Jurisdiction. AIG and each Participant hereby irrevocably submit to
            the exclusive jurisdiction of a state or federal court of
            appropriate jurisdiction located in the Borough of Manhattan, the
            City of New York over any suit, action or proceeding arising out of
            or relating to or concerning this Plan or any SPU that is not
            otherwise arbitrated or resolved according to Section 8B. AIG and
            each Participant acknowledge that the forum designated by this
            Section has a reasonable relation to this Plan and to such
            Participant's relationship with AIG.

      D.    Waiver. AIG and each Participant waive, to the fullest extent
            permitted by applicable law, any objection which AIG and such
            Participant now or hereafter may have to personal jurisdiction or to
            the laying of venue of any such suit, action or proceeding in any
            court referred to in Section 8C. AIG and each Participant undertake
            not to commence any action, suit or proceeding arising out of or
            relating to or concerning this Plan or any SPU in any forum other
            than a forum described in Section 8C.

      E.    Service of Process. Each Participant irrevocably appoints the
            Secretary of AIG at 70 Pine Street, New York, New York 10270, U.S.A.
            as his or her agent for service of process in connection with any
            action, suit or proceeding arising out of or relating to or
            concerning this Plan or any SPU that is not otherwise arbitrated or
            resolved according to Section 8A. The Secretary will promptly advise
            the Participant of any such service of process.

      F.    Confidentiality. Each Participant must keep confidential any
            information concerning any grant made under this Plan and any
            dispute, controversy or claim relating to this Plan, except that a
            Participant may disclose information concerning a dispute or claim
            to the court that is considering such dispute or to such
            Participant's legal counsel (provided that such counsel agrees not
            to disclose any such information other than as necessary to the
            prosecution or defense of the dispute).

9.    TERM OF PLAN

      This Plan will continue until suspended or terminated by the Committee in
its sole discretion. Any termination of this Plan will be done in a manner that
the Committee determines complies with Section 409A of the Code.

                                       7

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