Document:

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                                                                     EXHIBIT 4.4

                   THE DIAL CORPORATION FUTURE INVESTMENT PLAN

                      (AN AMENDMENT AND RESTATEMENT OF THE
                   DIAL CORPORATION CAPITAL ACCUMULATION PLAN)

               (as amended and restated through October 13, 2003)

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                   THE DIAL CORPORATION FUTURE INVESTMENT PLAN
                                TABLE OF CONTENTS

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ARTICLE I. - INTRODUCTION........................................................................................      1

   1.1     ESTABLISHMENT, AMENDMENT AND RESTATEMENT OF THE PLAN..................................................      1
   1.2     PURPOSE OF PLAN.......................................................................................      1
   1.3     TRANSFER OF ASSETS AND LIABILITIES....................................................................      1
   1.4     EFFECT OF OTHER DATES SET FORTH IN THE PLAN...........................................................      2

ARTICLE II. - DEFINITIONS AND CONSTRUCTION.......................................................................      3

   2.1     DEFINITIONS...........................................................................................      3
   2.2     OTHER DEFINITIONS.....................................................................................     11
   2.3     CONSTRUCTION..........................................................................................     11

ARTICLE III. - PARTICIPATION.....................................................................................     12

   3.1     PARTICIPATION.........................................................................................     12
   3.2     TERMINATION OF EMPLOYMENT.............................................................................     12
   3.3     TRANSFERS.............................................................................................     13
   3.4     SUSPENSION............................................................................................     13
   3.5     TRANSFER OF BARGAINING UNIT EMPLOYEES.................................................................     13

ARTICLE IV. - CONTRIBUTIONS......................................................................................     14

   4.1     EMPLOYER CONTRIBUTIONS................................................................................     14
   4.2     CODE SECTION 401(K) SALARY REDUCTION..................................................................     15
   4.3     EMPLOYEE CONTRIBUTIONS................................................................................     16
   4.4     AFTER-TAX SALARY DEDUCTION............................................................................     17
   4.5     ROLLOVERS AND TRANSFERS FROM OTHER PLANS..............................................................     17
   4.6     TRANSFERS FROM THE FREEMAN PLAN.......................................................................     18
   4.7     TRUST FUND............................................................................................     19
   4.8     GRANDFATHERED ACCOUNTS................................................................................     19

ARTICLE V. - ALLOCATIONS TO PARTICIPANT'S ACCOUNT................................................................     20

   5.1     INDIVIDUAL ACCOUNTS...................................................................................     20
   5.2     ACCOUNT ADJUSTMENTS...................................................................................     20
   5.3     ACTUAL DEFERRAL PERCENTAGE TEST.......................................................................     23
   5.4     AVERAGE CONTRIBUTION PERCENTAGE TEST..................................................................     24
   5.5     DISTRIBUTION OF EXCESS AGGREGATE CONTRIBUTIONS........................................................     26
   5.6     DISTRIBUTION OF EXCESS ELECTIVE DEFERRALS.............................................................     27
   5.7     DISTRIBUTION OF EXCESS CONTRIBUTIONS..................................................................     27
   5.8     MAXIMUM ADDITIONS.....................................................................................     28
   5.9     ADJUSTMENT OF MATCHING CONTRIBUTIONS SUBACCOUNT.......................................................     30
   5.10    TOP-HEAVY PROVISIONS..................................................................................     31
   5.11    SECURITIES LAW REQUIREMENTS...........................................................................     33

ARTICLE VI. - BENEFITS...........................................................................................     35

   6.1     ENTITLEMENT TO BENEFITS...............................................................................     35
   6.2     DEATH.................................................................................................     35
   6.3     PAYMENT OF BENEFITS...................................................................................     35
   6.4     DESIGNATION OF BENEFICIARY............................................................................     36
   6.5     WITHDRAWALS...........................................................................................     37
   6.6     SPOUSAL CONSENT.......................................................................................     39
   6.7     DEBITING OF INVESTMENT FUNDS..........................................................................     39
   6.8     REQUIRED DISTRIBUTIONS................................................................................     39
   6.9     DISTRIBUTION REQUIREMENTS.............................................................................     40
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   6.10    LOANS TO PARTICIPANTS.................................................................................     41
   6.11    ELIGIBLE ROLLOVER DISTRIBUTIONS.......................................................................     42

ARTICLE VII. - INVESTMENT OPTIONS, TRUST FUND....................................................................     45

   7.1     PARTICIPANT DIRECTED INDIVIDUAL ACCOUNT PLAN..........................................................     45
   7.2     EMPLOYEE SELECTED INVESTMENT OPTIONS, INVESTMENT FUNDS................................................     45
   7.3     INVESTMENT ELECTIONS..................................................................................     46
   7.4     INVESTMENT TRANSFERS..................................................................................     47
   7.5     TENDER OFFERS.........................................................................................     47
   7.6     VOTING OF STOCK.......................................................................................     47
   7.8     [INTENTIONALLY OMITTED]...............................................................................     48
   7.9     EXERCISE OF CONTROL...................................................................................     48
   7.10    ADJUSTMENT OF ACCOUNTS................................................................................     49
   7.11    LIMITATION OF LIABILITY AND RESPONSIBILITY............................................................     49
   7.12    FORMER PARTICIPANTS AND BENEFICIARIES.................................................................     49

ARTICLE VIII. - ADMINISTRATION OF THE PLAN.......................................................................     50

   8.1     ALLOCATION OF RESPONSIBILITY AMONG FIDUCIARIES FOR PLAN AND TRUST ADMINISTRATION......................     50
   8.2     APPOINTMENT OF COMMITTEE..............................................................................     50
   8.3     AUTHORITY OF COMMITTEE................................................................................     51
   8.4     ACTION BY THE COMMITTEE...............................................................................     51
   8.5     EMPLOYMENT OF THIRD PARTIES...........................................................................     52
   8.6     ALLOCATION AND DELEGATION.............................................................................     52
   8.7     REPORTS...............................................................................................     52
   8.8     CLAIMS PROCEDURE......................................................................................     52
   8.9     APPLICATION AND FORMS FOR BENEFITS; OTHER PLAN COMMUNICATIONS.........................................     53
   8.10    FACILITY OF PAYMENT...................................................................................     53
   8.11    INDEMNIFICATION OF THE COMMITTEE......................................................................     54

ARTICLE IX. - MISCELLANEOUS......................................................................................     55

   9.1     NONGUARANTEE OF EMPLOYMENT............................................................................     55
   9.2     RIGHTS TO TRUST ASSETS................................................................................     55
   9.3     NON-ALIENATION........................................................................................     55
   9.4     NONFORFEITABILITY OF BENEFITS.........................................................................     55
   9.5     QUALIFIED MILITARY SERVICE............................................................................     55

ARTICLE X. - AMENDMENTS AND ACTION BY EMPLOYER...................................................................     56

   10.1    AMENDMENTS............................................................................................     56
   10.2    ACTION BY THE COMPANY.................................................................................     56

ARTICLE XI. - SUCCESSOR EMPLOYER AND MERGER OR CONSOLIDATION OF PLANS............................................     57

   11.1    SUCCESSOR EMPLOYER....................................................................................     57
   11.2    CONDITIONS APPLICABLE TO MERGERS OR CONSOLIDATIONS OF PLANS...........................................     57

ARTICLE XII. - PLAN TERMINATION..................................................................................     58

   12.1    RIGHT TO TERMINATE....................................................................................     58
   12.2    PARTIAL TERMINATION...................................................................................     58
   12.3    LIQUIDATION OF THE TRUST FUND.........................................................................     58

ARTICLE XIII. - ADOPTION OF PLAN.................................................................................     59

   13.1    ADOPTION AGREEMENT....................................................................................     59
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                   THE DIAL CORPORATION FUTURE INVESTMENT PLAN

                            ARTICLE I. - INTRODUCTION

1.1      ESTABLISHMENT, AMENDMENT AND RESTATEMENT OF THE PLAN.

         The Dial Corporation (the "Company") established The Dial Corporation
Capital Accumulation Plan (the "Plan"), effective as of July 31, 1996. The Plan
is hereby amended and restated, (i) effective as of January 1, 1997, to bring
the Plan into compliance with Section 401 of the Internal Revenue Code of 1986,
as amended by the Uruguay Round Agreements Act, the Uniformed Services
Employment and Reemployment Rights Act of 1994, the Retirement Protection Act of
1994, the Small Business Job Protection Act of 1996, the Taxpayer Relief Act of
1997, the Internal Revenue Restructuring and Reform Act of 1998 and the
Community Renewal Tax Relief Act of 2000 (collectively, "GUST"), unless
otherwise provided under one of the aforementioned Acts; (ii) effective as of
December 31, 2001, to merge the Freeman Cosmetic Corporation Capital
Accumulation Plan (the "Freeman Plan") into the Plan (the "Plan Merger") and
clean up the relevant plan provisions; and (iii) effective as of January 1,
2002, to bring the Plan into compliance with Section 401 of the Internal Revenue
Code of 1986, as amended by the Economic Growth and Tax Relief Reconciliation
Act of 2001. The Plan shall continue to be known as "The Dial Corporation Future
Investment Plan."

1.2      PURPOSE OF PLAN.

         The purpose of the Plan is to provide benefits to Employees of the
Company (and their beneficiaries) following the distribution in 1996 of the
common stock of the Company to the stockholders of Viad Corp (the "Spin-Off"),
including, without limitation, the Consumer Products Employees (and their
beneficiaries) who, immediately prior to the Spin-Off, were participants in, or
otherwise entitled to benefits under, The Dial Companies Capital Accumulation
Plan and the Dial Companies Employees' Stock Ownership Plan. For purposes of
this Plan, the term "Consumer Products Employees" shall be given the meaning
ascribed to such term in the Distribution Agreement entered into in connection
with the Spin-Off to which the Company and Viad Corp. (among others) are
parties.

         In addition, the Plan provides benefits to former employees of the
Freeman Cosmetic Corporation who commenced employment with the Company on
January 1, 2001 (the "Transfer Date") in connection with the dissolution of the
Freeman Cosmetic Corporation (the "Dissolution"). As a result of this transfer
of employment, (i) the active participation of the Freeman Cosmetic Corporation
employees in the Freeman Plan ceased on the Transfer Date, (ii) these inactive
participants commenced active Participation in this Plan on the Transfer Date,
and (iii) as of December 31, 2001, there are no active participants in the
Freeman Plan. The Plan Merger is being effected in connection with the
Dissolution (and the transfer of employment caused thereby) and for the purposes
of transferring the account balances held pursuant to the Freeman Plan as of
December 31, 2001 to this Plan.

1.3      TRANSFER OF ASSETS AND LIABILITIES.

         Effective December 31, 2001, in connection with the Plan Merger, the
trustees of the Freeman Cosmetic Corporation Capital Accumulation Plan Trust
will transfer the account balances held therein to the Trust for this Plan. It
is the intention of the Board of Directors of the Company that (i) the sum of
the account balances in the Freeman Plan and in this Plan prior to

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the Plan Merger will equal the fair market value of the Plan assets after the
Plan Merger; (ii) the assets of the Freeman Plan and this Plan will be combined
to form the assets of this Plan as merged; and (iii) immediately after the Plan
Merger, each Participant in the Plan will have an Account balance equal to the
sum of the account balances the Participant had in the Freeman Plan (together
with the Account balances in this Plan, if applicable) immediately prior to the
Plan Merger.

         All liabilities and obligations incurred under the Freeman Plan prior
to December 31, 2001 in respect of participants who become Participants under
this Plan as a result of the Dissolution shall be assumed by this Plan,
effective December 31, 2001. With respect to any Participant whose Participation
in this Plan commenced solely as a result of the Dissolution, this Plan, to the
full extent legally required, shall be treated as a continuation of the Freeman
Plan, shall include all the Participant's years of active participation in the
Freeman Plan prior to his or her Participation in this Plan, and shall preserve
all valuable rights of the Participant that are legally protected, as well as
all withdrawal restrictions that are legally required to be maintained. A
participant in the Freeman Plan, who terminated employment prior to December 31,
2001 and who has an account balance under the Freeman Plan as of such date,
shall have his or her rights in respect of such account balance determined under
this Plan.

         It is the intention of the Board of Directors of the Company that any
rights and features of the Freeman Plan prior to the Plan Merger required to be
preserved by applicable law (including, but not limited to, Section 411(d)(6) of
the Code and Section 204(g) of ERISA) be so preserved, and this Plan shall be
construed and administered to effectuate this intent. As the effective date of
the Plan Merger is December 31, 2001, it is further intended that all of the
GUST amendments set forth herein apply to the account balances transferred in
connection with the Plan Merger from the Freeman Plan (where otherwise
applicable), effective as of such dates indicated herein.

1.4      EFFECT OF OTHER DATES SET FORTH IN THE PLAN.

         Although the Plan (and the Freeman Plan provisions relating to the
account balances transferred to the Plan in connection with the Plan Merger)
have been amended and restated effective as of January 1, 1997 for GUST, certain
of the provisions are applicable as of the earlier dates set forth herein. It is
intended that such earlier dates shall govern as to the provisions to which such
earlier dates apply.

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                   ARTICLE II. - DEFINITIONS AND CONSTRUCTION

2.1      DEFINITIONS.

         Where the following words and phrases appear in this Plan, they shall
have the respective meanings set forth in this Article, unless the context
clearly indicates to the contrary.

         (A)      Account(s): One or all of the Employee Contribution Account,
Employer Contribution Account, Salary Reduction Contribution Account, Vested
Rollover Contribution Account, and Grandfathered Account, as the case may be,
and, as appropriate in the context of each provision of the Plan containing such
term, for each Participant.

         (B)      Acquired Company: Any business entity which has been acquired
or whose assets have been acquired by an Employer. Participants shall be
credited with their Hours of Service with the Acquired Company and any other
prior service recognized as eligibility or vesting service under a qualified
plan of the Acquired Company. Notwithstanding the foregoing, the participation
of an Acquired Company employee in the Plan shall be subject to the intent of
the acquiring Employer in making the acquisition, which may deny the recognition
of service with the Acquired Company in order to prevent discrimination or to
protect the qualification of the Plan or for any other reason arising out of the
acquisition. The Committee shall ensure that appropriate records are kept to
carry out the terms of this provision.

         (C)      Actual Deferral Percentage or ADP: For a specified group of
Participants for a Plan Year, the average of the ratios (expressed as a
percentage and calculated separately for each Participant in such group) of (1)
the amount of Employer contributions actually paid over to the Trust on behalf
of each such Participant for the Plan Year to (2) the Participant's Compensation
for such Plan Year (whether or not the Employee was a Participant for the entire
Plan Year). Employer contributions on behalf of any Participant shall include:
(i) any Elective Deferrals made pursuant to the Participant's deferral election,
including Excess Elective Deferrals of Highly Compensated Employees, but
excluding (a) Elective Deferrals that are taken into account in the ACP test
(provided the ADP test is satisfied both with and without exclusion of these
Elective Deferrals) and (b) Catch-Up Contributions described in Section
4.1(A)(2) hereof; and (ii) at the election of the Employer, Qualified
Non-Elective Contributions and Qualified Matching Contributions. For purposes of
computing Actual Deferral Percentages, an Employee who would be a Participant
but for the failure to make Elective Deferrals shall be treated as a Participant
on whose behalf no Elective Deferrals are made.

         (D)      Adoption Agreement: The agreement executed by each Affiliate
Employer in order to adopt the Plan pursuant to the provisions of Article XIII.

         (E)      Affiliate: An entity which, by reason of Code Section 414(b),
414(c), or 414(m), is treated as a single Employer with the Company.

         (F)      Aggregate Limit: The sum of (i) one hundred twenty-five (125)
percent of the greater of the ADP of the non-Highly Compensated Employees for
the Plan Year or the ACP of non-Highly Compensated Employees under the Plan
subject to Code Section 401(m) for the Plan Year beginning with or within the
Plan Year of the CODA and (ii) the lesser of two hundred

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(200) percent or two (2) plus the lesser of such ADP or ACP. "Lesser" is
substituted for "greater" in "(i)" above, and "greater" is substituted for
"lesser" after "two (2) plus the" in "(ii)" above if it would result in a larger
Aggregate Limit.

         (G)      Annual Additions: With respect to each Limitation Year, the
total of the Employer contributions allocated to a Participant's Salary
Reduction Contribution Account and Employer Contribution Account, plus the
amount of after-tax contribution, if any, the Participant made for such
Limitation Year to a Participant's Employee Contribution Account. Amounts
allocated after March 31, 1984, to an individual medical account, as defined in
Section 415(l)(2) of the Code, which is part of a pension or annuity plan
maintained by the Employer are treated as Annual Additions to a defined
contribution plan. Also, amounts derived from contributions paid or accrued
after December 31, 1985, in taxable years ending after such date, which are
attributable to post-retirement medical benefits, allocated to the separate
account of a key Employee, as defined in Section 419A(d)(3) of the Code, under a
welfare benefit fund, as defined in Section 419(e) of the Code, maintained by
the Employer are treated as Annual Additions to a defined contribution plan. For
this purpose, any excess amount applied under Section 5.8 in the Limitation Year
to reduce Employer contributions will be considered Annual Additions for such
Limitation Year.

         (H)      Annual Compensation: A Participant's Compensation, except that
such amount shall include any amounts deferred in any non-qualified deferred
compensation plan sponsored by the Employer, and exclude (i) for periods ending
prior to January 1, 2001, fringe benefits (such as amounts realized from the
exercise of stock options, severance pay and benefits paid under any qualified
or supplemental pension plan maintained by the Employer), overtime, bonuses and
any benefits paid under this Plan, (ii) for periods beginning on or after
January 1, 2001, fringe benefits and any benefits paid under this Plan, and
(iii) for any taxable year beginning on or after November 1, 2002, any proceeds
allocable to a Participant's election to sell any vacation days accrued in such
year pursuant to the Company's vacation buy/sell plan.

         (I)      Authorized Leave of Absence: Any absence authorized by the
Employer under the Employer's standard personnel practices provided that all
persons under similar circumstances must be treated alike in the granting of
such Authorized Leaves of Absence and provided further that the Employee returns
to employment with the Employer or retires within the period of authorized
absence. An absence due to service in the Armed Forces of the United States
shall be considered an Authorized Leave of Absence provided that the Employee
complies with all of the requirements of Federal law in order to be entitled to
reemployment and provided further that the Employee returns to employment with
the Employer within the period provided by such law.

         (J)      Average Contribution Percentage or ACP: The average of the
Contribution Percentages of the Eligible Participants in a group.

         (K)      Beneficiary: A person or persons (natural or otherwise)
designated by a Participant in accordance with the provisions of Section 6.4 to
receive any death benefit payable under this Plan.

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         (L)      CODA: A cash or deferred arrangement as described in Section
401(k) of the Code.

         (M)      Code: The Internal Revenue Code of 1986, as amended.

         (N)      Committee: The Retirement Committee appointed to administer
the Plan pursuant to Article VIII.

         (O)      Company: The Dial Corporation.

         (P)      Compensation: Subject to the other provisions of the Plan and
except as defined in the Adoption Agreement of an Employer in accordance with
Article XIII hereof, a Participant's current compensation from an Employer
required to be reported on Form W-2 for such period, including those items
listed in paragraph (2) of Section 1.415-2(d) of the Federal Income Tax
Regulations, but excluding those items listed in paragraph (3) of Section
1.415-2(d) of the Federal Income Tax Regulations. For periods beginning after
December 31, 1997, "Compensation" shall also include the Participant's elective
deferrals (as defined in Code Section 402(g)(3)) and any amount that is
contributed or deferred by the Employer at the election of the Participant and
which is not includible in the gross income of the Participant by reason of
Section 125 of the Code. For Limitation Years beginning on and after January 1,
2001, "Compensation" shall also include elective amounts that are not includible
in the gross income of the Participant by reason of Section 132(f)(4) of the
Code. Notwithstanding the foregoing, in each case the Committee, in its
discretion, may use any definition of "Compensation" to determine whether the
various nondiscrimination tests are met as long as such definition satisfies
Code Section 414(s) and is applied uniformly to all Participants. For purposes
of allocating the Employer's contribution for the Plan Year in which a
Participant begins or resumes Participation, Compensation allocable to time
periods before his or her Participation began or resumed shall be disregarded.

         The annual Compensation of each Participant taken into account under
the Plan for any Plan Year shall not exceed the "annual compensation limit." The
"annual compensation limit" is One Hundred Fifty Thousand Dollars ($150,000), as
adjusted by the Commissioner for increases in the cost-of-living in accordance
with Section 401(a)(17)(B) of the Code; provided, however, that, effective for
Plan Years beginning after December 31, 2001, the "annual compensation limit"
shall not exceed $200,000, as adjusted by the Commissioner for increases in the
cost-of-living in accordance with Section 401(a)(17)(B) of the Code.

         The cost-of-living adjustment in effect for a calendar year applies to
any period, not exceeding twelve (12) months, over which Compensation is
determined (the "determination period") beginning with or within such calendar
year. If a determination period consists of fewer than twelve (12) months, the
"annual compensation limit" will be multiplied by a fraction, the numerator of
which is the number of months in the determination period, and the denominator
of which is twelve (12). Any reference in this Plan to the limitation under
Section 401(a)(17) of the Code shall mean the "annual compensation limit" set
forth in this provision. If Compensation for any prior determination period is
taken into account in determining an Employee's benefits accruing in the current
Plan Year, the Compensation for that prior determination period is subject to
the "annual compensation limit" in effect for that prior determination period.

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         (Q)      [intentionally omitted]

         (R)      Contribution Percentage: For a specified group of Participants
for a Plan Year, the ratio (expressed as a percentage and calculated separately
for each Participant in such group) of the Participant's Contribution Percentage
Amounts to the Participant's Compensation for the Plan Year (whether or not the
Employee was a Participant for the entire Plan Year).

         (S)      Contribution Percentage Amounts: The sum of the Employee
Contributions, Matching Contributions and Qualified Matching Contributions (to
the extent not taken into account for purposes of the ADP test) made under the
Plan on behalf of the Participant for the Plan Year. Such Contribution
Percentage Amounts shall include any forfeitures of Excess Aggregate
Contributions or Matching Contributions allocated to the Participant's Account
which shall be taken into account in the year in which such forfeiture is
allocated. The Employer may include Qualified Non-Elective Contributions in the
Contribution Percentage Amounts. The Employer also may elect to use Elective
Deferrals in the Contribution Percentage Amounts so long as the ADP test is met
before the Elective Deferrals are used in the ACP test and continues to be met
following the exclusion of those Elective Deferrals that are used to meet the
ACP test.

         (T)      Disability: A physical or mental condition which, in the sole
judgment of the Committee, based upon medical reports and other evidence
satisfactory to the Committee, permanently prevents an Employee from
satisfactorily performing his or her usual duties for the Employer and the
duties of any other position or job for the Employer for which such Employee is
qualified by reason of his or her training, education or experience.

         (U)      Discretionary Contributions: An Employer contribution made by
an Employer to this or any other defined contribution plan on behalf of a
Participant on account of the Employer's discretionary determination to make
such contribution. Other than (1) for purposes of the application of Sections
4.1(B) and 4.1(C) of the Plan and (2) for the allocation of Discretionary
Contributions to a subaccount pursuant to Section 5.1 of the Plan, Discretionary
Contributions shall be deemed (and shall be treated in the same manner as)
Matching Contributions under the Plan.

         (V)      [intentionally omitted]

         (W)      Elective Deferrals: Any Employer contributions made to the
Plan at the election of the Participant, in lieu of cash compensation, including
contributions made pursuant to a salary reduction agreement or other deferral
mechanism. With respect to any taxable year, a Participant's Elective Deferral
is the sum of all Employer contributions made on behalf of such Participant
pursuant to an election to defer under any qualified CODA as described in
Section 401(k) of the Code, any simplified Employee pension cash or deferred
arrangement as described in Section 402(h)(1)(B) of the Code, any eligible
deferred compensation plan under Section 457 of the Code, any plan as described
under Section 501(c)(18) of the Code, and any Employer contributions made on the
behalf of a Participant for the purchase of an annuity contract under Section
403(b) of the Code pursuant to a salary reduction agreement.

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         (X)      Eligible Employee: Any Employee of an Employer other than
Employees who are included within a unit of employees covered by a collective
bargaining agreement, for whom retirement benefits were the subject of good
faith bargaining, unless the collective bargaining agreement specifically
provides to the contrary. If an individual is classified or treated by an
Employer as other than an Employee and such individual is later determined to be
an individual described in Section 3121(d)(1) or (2) of the Code, such
individual shall not be an Eligible Employee while he is so classified or
treated.

         (Y)      Eligible Participant: Any Employee who is eligible to make an
Employee Contribution, or an Elective Deferral, or to receive a Matching
Contribution (including forfeitures) or a Qualified Matching Contribution. If an
Employee Contribution is required as a condition of Participation in the Plan,
any Employee who would be a Participant in the Plan if such Employee made such a
contribution shall be treated as an Eligible Participant on behalf of whom no
Employee Contributions are made.

         (Z)      Employee: Any person who is actively employed by an Employer
or an Affiliate.

         (AA)     Employee Contribution: Any contribution made to the Plan by or
on behalf of a Participant that is included in the Participant's gross income in
the year in which made and that is maintained under a separate account to which
earnings and losses are allocated.

         (BB)     Employee Contribution Account: The account maintained pursuant
to Section 4.3 hereof, to record for a Participant his or her after-tax
contributions and adjustments relating thereto.

         (CC)     Employer: The Company and any Affiliate that has adopted the
Plan pursuant to Article XIII hereof.

         (DD)     Employer Contribution Account: The account maintained pursuant
to Section 4.1(B) hereof, to record for a Participant his or her share of the
contributions of the Employer, if any, and adjustments relating thereto.

         (EE)     Employer Stock: The common stock of the Company, par value
$.01 per share.

         (FF)     Entry Date: The date on which a Participant commences
Participation under the Plan as determined in Section 3.1 hereof.

         (GG)     ERISA: Public Law No. 93-406, the Employee Retirement Income
Security Act of 1974, as amended.

         (HH)     [intentionally omitted]

         (II)     Excess Aggregate Contributions: With respect to any Plan Year,
the excess of:

                  (1)      The aggregate Contribution Percentage Amounts
                           actually taken into account in computing the Average
                           Contribution Percentage of Highly Compensated
                           Employees for such Plan Year, over

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                  (2)      The maximum Contribution Percentage Amounts permitted
                           by the ACP test (determined by reducing contributions
                           made on behalf of Highly Compensated Employees in
                           order of their Contribution Percentages beginning
                           with the highest of such percentages).

         Such determination shall be made after first determining Excess
Elective Deferrals and then determining Excess Contributions.

         In computing the Average Contribution Percentage, the Employer shall
take into account, and include as Contribution Percentage Amounts, Elective
Deferrals and Qualified Non-Elective Contributions under this Plan or any other
plan of the Employer, as provided by regulations.

         Forfeitures of Excess Aggregate Contributions shall be:

                  (1)      Applied to reduce Employer contributions for the Plan
                           Year in which the excess arose, but allocated as in
                           (2), below, to the extent the excess exceeds Employer
                           contributions or the Employer has already contributed
                           for such Plan Year.

                  (2)      Allocated, after all other forfeitures under the
                           Plan, to the Matching Contribution account of each
                           non-Highly Compensated Participant who made Elective
                           Deferrals or Employee Contributions in the ratio
                           which each such Participant's Annual Compensation for
                           the Plan Year bears to the total Annual Compensation
                           of all such Participants for such Plan Year.

         The Employer may elect to make Qualified Non-Elective Contributions
under the Plan on behalf of Employees.

         (JJ)     Excess Contribution: With respect to any Plan Year, the excess
of:

                  (1)      The aggregate amount of Employer contributions
                           actually taken into account in computing the ADP of
                           Highly Compensated Employees for such Plan Year, over

                  (2)      The maximum amount of such contributions permitted by
                           the ADP test (determined by reducing contributions
                           made on behalf of Highly Compensated Employees in
                           order of the Actual Deferral Percentages beginning
                           with the highest of such percentages).

         (KK)     Excess Elective Deferrals: Those Elective Deferrals that are
includible in a Participant's gross income under Section 402(g) of the Code to
the extent such Participant's Elective Deferrals for a taxable year exceed the
dollar limitation under such Code Section. Excess Elective Deferrals shall be
treated as Annual Additions under the Plan unless such amounts are distributed
no later than the first April 15th following the close of the Participant's
taxable year.

                                     - 8 -

<PAGE>

         (LL)     [intentionally omitted]

         (MM)     Fiduciaries: The Committee and the Trustee, but only with
respect to the specific responsibilities of each for Plan and Trust
administration, all as described herein.

         (NN)     [intentionally omitted]

         (OO)     Grandfathered Account: The Account balance of a Participant in
the Freeman Plan as of December 31, 1998, together with gains and/or losses
thereon. Within each Grandfathered Account, two subaccounts shall be maintained:
a "Regular Subaccount," to which shall be allocated amounts allocated to the
Participant's "Regular Account" as of December 31, 1998, and a "TDCA
Subaccount," to which shall be allocated amounts allocated to the Participant's
"Tax-Deferred Contributions Account" as of December 31, 1998.

         (PP)     Highly Compensated Employee: An individual who is an Employee
described in Subsection (1) or (2) below:

                  (1)      An Employee who at any time during the current Plan
                           Year is or during the preceding Plan Year was a five
                           (5) percent owner (as defined in Code Section
                           416(i)(1)); or

                  (2)      An Employee who at any time during the preceding Plan
                           Year had Compensation from an Employer in excess of
                           $80,000 (as such $80,000 amount is adjusted at the
                           same times and in the same manner as under Code
                           Section 415(d), except that the base period is the
                           calendar quarter ending September 30, 1996).

A former Employee shall be treated as a Highly Compensated Employee if such
former Employee (i) was a Highly Compensated Employee when such Employee
separated from service, or (ii) was a Highly Compensated Employee at any time
after attaining age 55.

         (QQ)     Hour of Service:

                  (1)      An hour for which an Employee is directly or
                           indirectly compensated, or is entitled to
                           compensation, by the Employer or an Affiliate for the
                           performance of duties. Such Hours of Service shall be
                           credited to the respective computation period in
                           which the duties were performed.

                  (2)      An hour for which an Employee is directly or
                           indirectly compensated, or is entitled to
                           compensation, by the Employer or an Affiliate on
                           account of a period of time during which no duties
                           are performed (irrespective of whether the employment
                           relationship has terminated) due to vacation,
                           holiday, illness, incapacity (including Disability),
                           layoff, jury duty, military duty or leave of absence.
                           No more than five hundred and one (501) Hours of
                           Service shall be credited under this paragraph (2)
                           for any single continuous period (whether or not such
                           period occurs in a single service computation
                           period). Hours of Service under this paragraph (2)

                                     - 9 -

<PAGE>

                           shall be calculated and credited pursuant to Section
                           2530.200b-2 of the Department of Labor regulations
                           governing the computation of Hours of Service, which
                           are incorporated herein by this reference.

                  (3)      An hour for which back pay (irrespective of
                           mitigation of damages) is either awarded, or agreed
                           to, by the Employer or an Affiliate. The same Hours
                           of Service shall not be credited both under paragraph
                           (1) or paragraph (2) above, as the case may be, and
                           under this paragraph (3). Hours of Service
                           attributable to back pay credits will be credited to
                           the respective service computation period or periods
                           to which the back pay pertains, rather than to the
                           service computation period or periods in which the
                           award, agreement, or payment is made.

                  (4)      Employees shall also be credited with any additional
                           Hours of Service required to be credited pursuant to
                           any Federal law other than ERISA or the Code.

         (RR)     Income: The net gain or loss of the Trust Fund from
investments, as reflected by interest payments, dividends, realized and
unrealized gains and losses on securities, other investment transactions and
expenses paid from the Trust Fund. In determining the Income of the Trust Fund
as of any date, assets shall be valued on the basis of their fair market value.

         (SS)     Investment Fund(s): The investment funds described in Section
7.2.

         (TT)     Limitation Year: The 12-month period commencing on January 1
and ending on December 31.

         (UU)     Matching Contribution: An Employer contribution made to this
or any other defined contribution plan on behalf of a Participant on account of
an Employee Contribution made by such Participant, or on account of a
Participant's Elective Deferral, under a plan maintained by the Employer.

         (VV)     Minimum Company Contribution: The contributions made by the
Company under the Plan in accordance with the provisions of Section 4.1(D).

         (WW)     Participant: An Employee participating in the Plan in
accordance with the provisions of Section 3.1.

         (XX)     Participation: Except as otherwise provided in Section 3.1,
the period commencing as of the date the Employee became a Participant and
ending on the date his or her employment with the Employer terminated in
accordance with Section 3.2 hereof.

         (YY)     Plan: The Dial Corporation Future Investment Plan, as amended
from time to time.

                                     - 10 -

<PAGE>

         (ZZ)     Plan Year: Prior to November 30, 1998, the Plan Year shall be
the calendar year. Commencing December 1, 1998, the Plan Year shall be the
twelve (12) month period beginning on December 1 and ending on November 30.

         (AAA)    Qualified Matching Contributions: Matching Contributions which
are subject to the distribution and nonforfeitability requirements under Section
401(k) of the Code when made.

         (BBB)    Qualified Non-Elective Contributions: Contributions (other
than Matching Contributions or Qualified Matching Contributions) made by the
Employer and allocated to Participants' Accounts that the Participants may not
elect to receive in cash until distributed from the Plan, that are
nonforfeitable when made, and that are distributable only in accordance with the
distribution provisions that are applicable to Elective Deferrals and Qualified
Matching Contributions.

         (CCC)    Salary Reduction Contribution Account: The account maintained
to record for a Participant his or her pre-tax salary reduction contributions
made by the Employer pursuant to Sections 4.1(A) and 4.2 hereof, and adjustments
relating thereto.

         (DDD)    [intentionally omitted]

         (EEE)    Trust (or Trust Fund): The fund known as The Dial Corporation
Future Investment Plan Trust, maintained in accordance with the terms of the
trust agreement, as from time to time amended, which constitutes a part of the
Plan.

         (FFF)    Trustee: The corporation or individuals appointed by the Board
of Directors of the Company to administer the Trust.

         (GGG)    Valuation Date: Each business day of the Plan Year.

         (HHH)    Vested Rollover Contribution Account: The account maintained
pursuant to Section 4.5 hereof, to record for a Participant rollover amounts
transferred to the Trust Fund and adjustments relating thereto.

         (III)    [intentionally omitted]

2.2      OTHER DEFINITIONS.

         Definitions of terms and phrases that have a more limited application
are set forth in the sections to which they relate.

2.3      CONSTRUCTION.

         The words "hereof," "herein," "hereunder," and other similar compounds
of the word "here" shall mean and refer to the entire Plan and not to any
particular provision or Section of the Plan. Article and Section headings are
included for convenience of reference and are not intended to add to, or
subtract from, the terms of the Plan. Except when otherwise indicated by the
context, any masculine or feminine term shall also include the other gender, and
the use of any term in the singular or plural shall also include the opposite
number.

                                     - 11 -

<PAGE>

                          ARTICLE III. - PARTICIPATION

3.1      PARTICIPATION.

         (A)      Any Eligible Employee who as of December 31, 1996 was a
Participant in the Plan shall continue as a Participant on and after January 1,
1997. Any person who was a participant in the Freeman Plan shall become a
Participant in this Plan as of the earlier of (i) his or her Transfer Date (if
he or she is otherwise an Eligible Employee) and (ii) December 31, 2001 (if he
or she has an account balance in the Freeman Plan as of such date). In addition,
with respect to any Eligible Employee, who was an employee of the Freeman
Cosmetic Corporation but not a participant in the Freeman Plan, any periods of
service rendered to the Company and/or any of its Affiliates (including the
Freeman Cosmetic Corporation) by such Eligible Employee prior to his or her
Transfer Date shall be recognized for purposes of determining the Eligible
Employee's Entry Date under this Plan to the extent that such service would have
been recognized under the Freeman Plan for such purpose.

         (B)      Any other Eligible Employee shall become a Participant as of
the first date next following any "eligibility computation period" during which
he or she has at least one thousand (1,000) Hours of Service with the Employer
or an Acquired Company, and after duly executing a salary reduction agreement
pursuant to Section 4.2 and fulfilling the Plan's enrollment procedures as
provided by the Committee; provided, however, that, from and after January 1,
2001, each Eligible Employee who is regularly scheduled to work at least twenty
(20) hours per week shall immediately become a Participant after he or she has
entered into a duly executed salary reduction agreement under Section 4.2 and
has fulfilled the Plan's enrollment procedures as provided by the Committee. For
purposes of this Section 3.1(B), the initial "eligibility computation period" is
the twelve (12) consecutive month period commencing on the date on which the
Employee first performs an Hour of Service and the second and subsequent
"eligibility computation periods" are the twelve (12) consecutive month periods
commencing on the anniversaries of said date.

         (C)      Participation under the Plan shall cease and a person shall no
longer be a Participant upon Termination of Employment with the Employer, as
defined in Section 3.2 hereof. A rehired Eligible Employee shall be credited
with all Hours of Service performed prior to his Termination of Employment. If a
rehired Eligible Employee was a Participant or had satisfied the eligibility
service requirements of this Section during his prior period of employment and
following his return he is otherwise eligible to participate in the Plan, he
shall commence Participation upon the later of his date of rehire or the date on
which he would have commenced Participation if his employment had not
terminated.

3.2      TERMINATION OF EMPLOYMENT.

         "Termination of Employment" shall be deemed to be the date:

         (A)      The Participant quit, was discharged (for any reason,
including Disability), died or retired; or

         (B)      The first anniversary of the date the Participant was
continuously absent (with or without pay) for any other reason, such as
vacation, holiday, temporary sickness, Authorized

                                     - 12 -

<PAGE>

Leave of Absence or layoff, or the date within such twelve (12) month period
when the Participant quit, was discharged, died or retired.

3.3      TRANSFERS.

         For the purposes of determining eligibility to participate in the Plan
under Section 3.1, an Eligible Employee shall receive credit for employment with
an Employer or an Affiliate.

3.4      SUSPENSION.

         If a Participant (i) elects to defer distribution of his or her benefit
pursuant to Section 6.3(C), (ii) is transferred to employment with an Affiliate
that has not adopted the Plan, (iii) ceases to be an Eligible Employee, (iv)
goes on an unpaid maternity or paternity leave under ERISA Section 203(b), (v)
receives a hardship withdrawal in accordance with Section 6.5(D), or (vi)
commences an Authorized Leave of Absence, as reasonably determined by the
Committee, his or her Participation under the Plan shall be suspended; provided,
however, that during the period of his or her employment in such ineligible
status or position: (a) he or she shall cease to have any right to make
contributions pursuant to Article IV hereof, (b) his or her Employer
Contribution Account shall receive no Employer contribution allocation under
Section 5.2(C), (c) he or she shall continue to participate in Income
allocations pursuant to Section 5.2(A), (d) the withdrawal privileges under the
provisions of Article VI, other than the loan provision of Section 6.10, shall
continue to apply except for a Participant who has deferred distribution of his
or her benefit pursuant to Section 6.3(C); and (e) the Investment Fund transfer
provisions of Section 7.4 shall continue to apply.

3.5      TRANSFER OF BARGAINING UNIT EMPLOYEES.

         If a Participant becomes included in a unit of employees covered by a
collective bargaining agreement and pursuant to collective bargaining is
excluded from this Plan and included in a collectively bargained plan, the
Committee, in the exercise of its discretion, may direct that the Participant's
Accounts in the Plan be transferred to the collectively bargained plan if the
collectively bargained plan so provides. In such event, the Accounts of the
Participant shall be valued and adjusted as of the transfer effective date, and
the sum of the Account balances so determined shall equal the amount
transferred. The Committee and Trustee are hereby authorized and directed
collectively to take all actions necessary or appropriate to accomplish such
transfer of Account balances to the collectively bargained plan. Following the
transfer, the Participant will no longer have any claim for benefits under this
Plan, and the collectively bargained plan, in accepting the assets transferred
from this Plan, shall be deemed to have accepted the liability for all amounts
due to the Participant.

                                     - 13 -

<PAGE>

                           ARTICLE IV. - CONTRIBUTIONS

4.1      EMPLOYER CONTRIBUTIONS.

         (A)      (1)      For each Plan Year, the Employer shall contribute an
                           amount to a Participant's Salary Reduction
                           Contribution Account equal to the total amount of
                           contributions agreed to be made by it pursuant to a
                           salary reduction agreement under Section 4.2 entered
                           into between the Employer and the Participant for
                           such Plan Year. Such deferrals shall be treated as
                           matchable (and as such are referred to as "Matched
                           Salary Reduction Contributions" in Subsection (B)
                           below) to the extent that, for any Participant, they
                           do not exceed the following: (i) effective on or
                           prior to December 31, 2000, three (3) percent of his
                           Annual Compensation for the applicable payroll
                           period; and (ii) effective as of January 1, 2001,
                           four (4) percent of his Annual Compensation for the
                           applicable payroll period. Contributions made by the
                           Employer for a given payroll period pursuant to
                           salary reduction agreements under Section 4.2 shall
                           be promptly deposited in the Trust Fund as soon as
                           practicable after the payroll period to which they
                           relate.

                  (2)      Effective for tax years commencing after December 31,
                           2001, all Employees who are eligible to make Elective
                           Deferrals under this Plan and who have attained age
                           50 before the close of such tax year shall be
                           eligible to make catch-up contributions in accordance
                           with, and subject to the limitations of, Section
                           414(v) of the Code ("Catch-Up Contributions"). Such
                           Catch-Up Contributions shall not be taken into
                           account for purposes of the provisions of the Plan
                           implementing the required limitations of Sections
                           401(a)(30) and 415(c) of the Code. The Plan shall not
                           be treated as failing to satisfy the provisions of
                           the Plan implementing the requirements of Section
                           401(a)(4), 401(k)(3), 410(b) or 416 of the Code, as
                           applicable, by reason of the making of such Catch-Up
                           Contributions. Catch-Up Contributions shall not be
                           taken into account for purposes of determining the
                           Matching Contributions available under the Plan.

         (B)      In addition, subject to the proviso of this sentence, for each
Plan Year, each Employer will make a Matching Contribution on behalf of each
eligible Participant in an amount equal to one hundred (100) percent of the
Participant's Matched Salary Reduction Contributions for the Plan Year;
provided, however, that, effective as of January 1, 2001, to be entitled to
Matching Contributions as of any date, a Participant (other than a Participant
who participated in the Freeman Plan as of the Transfer Date and who began
Participation in this Plan on such date as a result of the Dissolution) shall
have been an Employee for at least six (6) months and regularly scheduled to
work at least twenty (20) hours per week as of such date. The Matching
Contributions made on behalf of a Participant shall be allocated to his Employer
Contribution Accounts at the time provided in Section 5.2(C). All Matching
Contributions of an Employer shall be paid to the Trustee and payment shall be
made not later than the time prescribed by law for filing the Federal income tax
return of the Employer, including any extensions which have been granted for the
filing of such tax return. Matching Contributions credited to a Participant's

                                     - 14 -

<PAGE>

Employer Contribution Account shall be one hundred (100) percent vested and
nonforfeitable at all times.

         (C)      Effective as of January 1, 2001, each Employer may, in its
sole discretion, make a Discretionary Contribution to the Plan. Discretionary
Contributions made for any Plan Year shall be allocated to the Employer
Contribution Accounts of eligible Participants in proportion to the Matching
Contributions made or to be made on behalf of Participants for such Plan Year.
The Discretionary Contributions made on behalf of a Participant shall be
allocated to his Employer Contribution Accounts at the time provided in Section
5.2(C). No Participant shall be eligible for allocation of any portion of a
Discretionary Contribution for any Plan Year unless such Participant (i) is
actively employed on the last day of the Plan Year or (ii) has died, suffered a
Disability or retired during the Plan Year. All Discretionary Contributions of
an Employer shall be paid to the Trustee and payment shall be made not later
than the time prescribed by law for filing the Federal income tax return of the
Employer, including any extensions which have been granted for the filing of
such tax return. Discretionary Contributions allocated to Participants' Employer
Contribution Account shall be one hundred (100) percent vested and
nonforfeitable at all times.

         (D)      For each Plan Year, the Company shall make contributions
("Minimum Company Contributions") to the Plan in the form of employer
contributions (within the meaning of Section 404 of the Code), in cash or stock,
at least equal to a specified dollar amount, on behalf of those individuals who
are entitled to an allocation under Section 5.2(F) of the Plan. Such amount
shall be determined by the Board of Directors of the Company, or the delegate of
such Board, by resolution on or before the last day of the Company's taxable
year that ends within such Plan Year.

         The Minimum Company Contribution for a Plan Year shall be paid by the
Company in one or more installments without interest. The Company shall pay the
Minimum Company Contribution at any time during the Plan Year, and for purposes
of deducting such contribution, shall make the contribution, not later than the
time prescribed by the Code for filing the Company's Federal income tax return
including extensions, for its taxable year that ends within such Plan Year.
Notwithstanding any provision of the Plan to the contrary, the Minimum Company
Contribution made to the Plan by the Company shall not revert to, or be returned
to, the Company.

4.2      CODE SECTION 401(k) SALARY REDUCTION.

         (A)      In addition to the other terms and conditions herein, each
Eligible Employee shall enter into prior to the Entry Date that such Eligible
Employee's Participation under the Plan is to commence pursuant to Section 3.1 a
salary reduction agreement with the Employer which will be applicable to Annual
Compensation for payroll periods after such Entry Date. The terms of any such
salary reduction agreement shall provide for the purposes of Section 4.1(A)
hereof that the Eligible Employee as a Participant agrees to accept a reduction
in salary from the Employer equal to the following percentage of his or her
Annual Compensation per payroll period: effective prior to January 31, 2001,
from one (1) percent to twelve (12) percent of such Annual Compensation, and,
effective on and after January 31, 2001, from one (1) percent to twenty-one (21)
percent of such Annual Compensation. In consideration of such agreement, the
Employer will make a salary reduction contribution to the Participant's Salary
Reduction Contribution

                                     - 15 -

<PAGE>

Account on behalf of the Participant for such Plan Year in an amount equal to
the total amount by which the Participant's Annual Compensation from the
Employer was reduced during the Plan Year pursuant to the salary reduction
agreement. Amounts credited to a Participant's Salary Reduction Contribution
Account are intended to qualify for Federal income tax deferral under Section
401(k) of the Code and, as such, shall be one hundred (100) percent vested and
nonforfeitable at all times. If a Participant enters into a salary reduction
agreement with the Employer for a given Plan Year, his or her Annual
Compensation for such Plan Year for all other purposes of this Plan, except with
respect to a salary deduction agreement under Section 4.4 hereof, shall be equal
to his or her Annual Compensation after application of the salary reduction
agreement.

         (B)      Unless otherwise amended or terminated in accordance with
Subsection (2) below, a Participant's salary reduction agreement shall be deemed
automatically renewed from year to year, while this Plan remains in force and
effect. Further, salary reduction agreements shall include, but not by way of
limitation, and be governed by the following:

                  (1)      A salary reduction agreement shall apply to each
                           payroll period during which an effective salary
                           reduction agreement is on file with the Employer.

                  (2)      A salary reduction agreement may be amended or
                           terminated by a Participant at such times and in such
                           a manner as the Committee may from time to time
                           establish.

                  (3)      Any amendment or termination of a salary reduction
                           agreement shall be effective at such times as the
                           Committee may from time to time establish.

                  (4)      The Employer may amend or revoke its salary reduction
                           agreement with any Participant at any time, if the
                           Committee determines that such revocation or
                           amendment is necessary to insure that a Participant's
                           Annual Additions for any Limitation Year will not
                           exceed the limitations of Section 415 of the Code or
                           to insure that the discrimination tests of Sections
                           401(k) and 401(m) of the Code are met for such Plan
                           Year.

         (C)      The Committee may from time to time alter and/or add to the
requirements for salary reduction agreements expressed in Section 4.2(B). The
Employer shall abide by the Committee's determinations and directions with
respect to all matters covered in salary reduction agreements.

4.3      EMPLOYEE CONTRIBUTIONS.

         Subject to the provisions of Section 4.4 hereof, a Participant may
contribute each Plan Year to an Employee Contribution Account an amount pursuant
to a salary deduction agreement under Section 4.4 not intended to qualify for
Federal income tax deferral under Code Section 401(k), but to be subtracted from
such Participant's Annual Compensation on an after-tax basis. Amounts credited
to a Participant's Employee Contribution Account shall remain one hundred (100)
percent vested and non-forfeitable at all times.

                                     - 16 -

<PAGE>

4.4      AFTER-TAX SALARY DEDUCTION.

         A Participant may elect to enter into a salary deduction agreement with
Employer which shall be in the form and substance acceptable to the Employer and
the Committee and will be applicable to all payroll periods within a Plan Year.
A salary deduction agreement may be amended or terminated at such times and in
such a manner as the Committee may from time to time establish. The terms of
such salary deduction agreement shall provide, among other things, that for the
purposes of Section 4.3 the Participant agrees to accept a deduction from salary
from the Employer equal to any whole percentage of his or her Annual
Compensation per payroll period, not to exceed the following percentage of such
Annual Compensation: (i) effective prior to January 1, 2001, ten (10) percent of
such Annual Compensation; (ii) effective from January 1, 2001 through January
31, 2001, nine (9) percent of such Annual Compensation; and (iii) effective on
and after January 31, 2001, twenty-one (21) percent of such Annual Compensation;
provided, however, that to the extent that the sum of the percentage elected
pursuant to clause (iii) of this sentence and the percentage elected pursuant to
Section 4.2 exceeds twenty-one (21) percent, the percentage elected pursuant to
clause (iii) of this sentence shall be reduced so that such sum equals
twenty-one (21) percent.

4.5      ROLLOVERS AND TRANSFERS FROM OTHER PLANS.

         (A)      (1)      An Employee eligible to participate in the Plan,
                           regardless of whether he or she has satisfied the
                           Participation requirements of Section 3.1, who has
                           received a distribution from a profit sharing plan,
                           stock bonus plan or pension plan intended to
                           "qualify" under Section 401 of the Code (the "Other
                           Plan") may transfer such distribution to the Trust
                           Fund if such amount constitutes, in the sole and
                           absolute discretion of the Committee, an "eligible
                           rollover distribution" within the meaning of the
                           applicable provisions of the Code. Additionally, an
                           Employee may request, with the approval of the
                           Committee, that the Trustee accept a transfer of an
                           eligible rollover distribution from the trustee of
                           another qualified plan. For purposes of this Plan,
                           both of the rollover contributions described in this
                           Subsection (A)(1) shall be referred to as a "Rollover
                           Contribution." Upon the Committee's approval of such
                           Rollover Contribution, the Trustee shall accept the
                           transfer. The Committee may, in its sole discretion,
                           decline to accept such transfer. If the Committee
                           decides to grant an Employee's request to make a
                           Rollover Contribution, the Employee may contribute to
                           the Trust Fund cash or other property acceptable to
                           the Trustee to the extent of such distribution. The
                           procedure approved by the Committee shall provide
                           that such a transfer may be made only if the
                           following conditions are met: (a) the transfer occurs
                           on or before the sixtieth (60th) day following the
                           Employee's receipt of the distribution from the Other
                           Plan; and (b) the amount transferred does not exceed
                           the distribution the Employee received from the Other
                           Plan.

                  (2)      Notwithstanding the foregoing, effective for
                           transfers made after December 31, 2001, the Plan will
                           accept a Rollover Contribution from a qualified plan
                           described in Section 401(a) or 403(a) of the Code
                           (excluding after-tax employee

                                     - 17 -

<PAGE>

                           contributions), an annuity contract described in
                           Section 403(b) of the Code (excluding after-tax
                           employee contributions), and an eligible plan under
                           Section 457(b) of the Code which is maintained by a
                           state, political subdivision of a state, or any
                           agency or instrumentality of a state or political
                           subdivision of a state.

         (B)      Notwithstanding the foregoing, if an Employee had deposited a
distribution previously received from Other Plan into an individual retirement
account ("IRA"), as defined in Section 408 of the Code, he or she may transfer
the amount of such distribution, plus earnings thereon from the IRA, to this
Plan; provided such Rollover Contribution is deposited with the Trustee on or
before the sixtieth (60th) day following receipt thereof from the IRA.

         (C)      The Committee shall develop such procedures, and may require
such information from an Employee desiring to make or effectuate any Rollover
Contribution under this Section 4.5, as it deems necessary or desirable to
determine that the proposed Rollover Contribution will meet the requirements of
this Section. Upon approval by the Committee, the amount transferred shall be
deposited in the Trust Fund and shall be credited to a Vested Rollover
Contribution Account. Such account shall be one hundred (100) percent vested in
the Employee, shall share in Income allocations in accordance with Section
5.2(A), but shall not share in Employer contribution allocations. Upon
Termination of Employment, the total amount of the Employee's Vested Rollover
Contribution Account shall be distributed in accordance with Article VI.

         (D)      Upon a Rollover Contribution by an Employee who is otherwise
eligible to participate in the Plan but who has not yet completed the applicable
Participation requirements of Section 3.1, his or her Vested Rollover
Contribution Account shall represent his or her sole interest in the Plan until
he or she becomes a Participant.

         (E)      The Committee, the Employer and the Trustee do not guarantee
the Vested Rollover Contribution Accounts of Participants in any way from loss
or depreciation. The Employer, the Committee and the Trustee do not guarantee
their payment of any money which may be or become due to any person from a
Vested Rollover Contribution Account, and the liability of the Employer, the
Committee and/or the Trustee to make any payment therefrom shall at any and all
times be limited to the then value of the Vested Rollover Contribution Account.

4.6      TRANSFERS FROM THE FREEMAN PLAN.

         In connection with the Plan Merger, the Committee and the Trustee are
hereby authorized and directed to accept the transfer of assets and liabilities
from the Freeman Plan. After the transfer, the Company shall be responsible for
all liabilities and obligations with respect to the inactive participants in the
Freeman Plan (and their beneficiaries), except that all contributions permitted
hereunder shall made shall be made to the Trustee as described in Section 4.7.
All amounts received from the Freeman Plan shall be credited to the Accounts
established pursuant to this Plan in accordance with Section 5.2(G) of this
Plan. The Committee, the Employer, and the Trustee do not guarantee the amounts
transferred from the Freeman Plan in any way from loss or depreciation. The
Committee shall establish special rules and accounting procedures as necessary
to preserve any distribution forms or other valuable rights that are protected
by Code Section 411(d)(6) with respect to amounts attributable to assets
transferred directly to this Plan from the Freeman Plan.

                                     - 18 -

<PAGE>

4.7      TRUST FUND.

         (A) All contributions under this Plan shall be paid to the Trustee and
deposited in the Trust Fund. However, all contributions made by the Employer are
expressly conditioned upon the continued qualification of the Plan under the
Code, including any amendments to the Plan. Upon the Employer's request, a
contribution which was made by a mistake of fact, or conditioned upon
qualification of the Plan or any amendment thereof, shall be returned to the
Employer within one year after the payment of the contribution, or the denial of
the qualification, whichever is applicable.

         (B) Except as provided above, all assets of the Trust Fund, including
investment Income, shall be retained for the exclusive benefit of Participants
and Beneficiaries and shall be used to pay benefits to such persons or to pay
administrative expenses of the Plan and Trust Fund to the extent not paid by the
Employer and shall not revert to or inure to the benefit of the Employer.

         (C) Notwithstanding anything herein to the contrary, the maximum amount
that may be returned to the Employer pursuant to subparagraph (A) above is
limited to the portion of such contribution attributable to the mistake of fact
or the portion of such contribution deemed non-deductible (the "excess
contribution"). Earnings attributable to the excess contribution will not be
returned to the Employer, but losses attributable thereto will reduce the amount
returned.

4.8      GRANDFATHERED ACCOUNTS.

         No contributions shall be made to a Grandfathered Account that is
transferred to this Plan. Amounts allocated to a Participant's Grandfathered
Account shall be one hundred (100) percent vested and non-forfeitable at all
times.

                                     - 19 -

<PAGE>

                ARTICLE V. - ALLOCATIONS TO PARTICIPANT'S ACCOUNT

5.1      INDIVIDUAL ACCOUNTS.

         The Committee shall create and maintain adequate records to disclose
the interest in the Trust of each Participant and Beneficiary. Such records
shall be in the form of individual Accounts, and credits and charges shall be
made to such Accounts in the manner herein described. When appropriate, a
Participant shall have five separate Accounts--an Employer Contribution Account,
an Employee Contribution Account, a Salary Reduction Contribution Account, a
Vested Rollover Contribution Account and a Grandfathered Account. Where
necessary, the Committee shall create and maintain subaccounts adequate to
distinguish between funds in an Account for the purposes of the Plan (e.g.,
Qualified Matching Contribution, Matching Contribution and Discretionary
Contribution subaccounts of the Employer Contribution Account). The maintenance
of individual Accounts and subaccounts is only for accounting purposes, and a
segregation of the assets of the Trust Fund to each Account or subaccount shall
not be required. Distributions and withdrawals made from an Account shall be
charged to the Account as of the date paid.

         Because Participants have a choice of Investment Funds, any reference
in this Plan to a Salary Reduction Contribution Account, a Vested Rollover
Contribution Account, an Employee Contribution Account, a Grandfathered Account
and an Employer Contribution Account (where permitted under Section 7.2 hereof)
shall be deemed to mean and include all accounts of a like nature which are
maintained for the Participant under each Investment Fund.

5.2      ACCOUNT ADJUSTMENTS.

         The Accounts of Participants shall be adjusted no less frequently than
quarterly, recognizing the Participant's elections pursuant to Section 5.5
hereof, in accordance with the following:

         (A)      Income: The Income of the Trust Fund shall be allocated to the
Accounts of Participants who had unpaid balances in their Accounts as of each
business day during the Plan Year, in proportion to the balances in such
Accounts, as adjusted to reflect and give appropriate weighting to any receipt
or distributions during the period, based on generally acceptable principles of
trust accounting agreed to by the Committee, the Trustee, and the recordkeeper
for the Plan and consistently applied. Each valuation shall be based on the fair
market value of assets in the Trust Fund on the appropriate day.

         (B)      Salary Reduction Contributions: The Employer contributions
that are made pursuant to a salary reduction agreement entered into with a
Participant under Section 4.2 shall be allocated to the Participant's Salary
Reduction Contribution Account as soon as possible following receipt by the
Trustee.

         (C)      Matching Contributions: The Employer's Matching Contribution
described in Section 4.1(B), if any, shall be allocated among the Employer
Contribution Accounts of Participants in accordance with Section 4.1(B) as of
the last day of the relevant Plan Year.

                                     - 20 -

<PAGE>

         (D)      Contributions: A Participant's contributions shall be
allocated to his or her Employee Contribution Account as soon as possible
following receipt by the Trustee.

         (E)      [intentionally omitted]

         (F)      Minimum Company Contribution: The Minimum Company Contribution
for the Plan Year shall be allocated as follows:

                  (1)      First, the Minimum Company Contribution for the Plan
                           Year shall be allocated during the Plan Year to each
                           Employee of the Company who is an Eligible
                           Participant on the first day of the Plan Year as
                           salary reduction contributions pursuant to Section
                           4.1(A) and as the Employer's Matching Contributions
                           pursuant to Section 4.1(B). These allocations shall
                           be made to each such Eligible Participant's Salary
                           Reduction Contribution Account and Employer
                           Contribution Account, respectively.

                  (2)      Second, the balance of the Minimum Company
                           Contribution remaining after the allocation in
                           Section 5.2(F)(1) shall be allocated to the Employer
                           Contribution Account of each individual who is not a
                           Highly Compensated Employee and who is an Eligible
                           Participant on the first day of the Plan Year and who
                           is employed by the Company on the last day of the
                           Plan Year, in the ratio that such Eligible
                           Participant's salary reduction contributions during
                           the Plan Year bears to the salary reduction
                           contributions of all such Eligible Participants
                           during the Plan Year.

                  (3)      Third, notwithstanding Section 5.8 of the Plan, if
                           the total contributions allocated to a Participant's
                           Accounts including the Minimum Company Contribution
                           exceeds the Participant's maximum Annual Addition
                           limit for any Limitation Year, then such excess shall
                           be held in a suspense account. Such amounts shall be
                           used to reduce employer contributions in the next,
                           and succeeding, Limitation Years.

                  (4)      Fourth, the balance of the Minimum Company
                           Contribution remaining after the allocations under
                           Section 5.2(F) (1), (2) and (3), shall be allocated
                           as a nonelective contribution to each Employee of the
                           Company who is not a Highly Compensated Employee and
                           who is an Eligible Participant on the first day of
                           the Plan Year, in the ratio that such Eligible
                           Participant's Annual Compensation for the Plan Year
                           bears to the Annual Compensation for the Plan Year of
                           all such Eligible Participants. Contributions made
                           pursuant to this Subsection 5.2(F)(4) shall be
                           allocated to the Employer Contribution Account of
                           such Eligible Participant and are distributable only
                           in accordance with the distribution provisions
                           applicable to the Employer's Matching Contributions.
                           Contributions made pursuant to this Subsection shall
                           be one hundred (100) percent vested and
                           non-forfeitable at all times. Such contribution shall
                           be invested under the Plan in the manner designated
                           by such Eligible Participant.

                                     - 21 -

<PAGE>

                  (5)      Each installment of the Minimum Company Contribution
                           shall be held in a contribution suspense account
                           unless, or until, allocated on or before the end of
                           the Plan Year in accordance with this Section 5.2(F).
                           Such suspense account shall not participate in the
                           allocation of Income of the Trust Fund as a whole,
                           but shall be invested separately and all gains,
                           losses, income and deductions attributable to such
                           contributions shall be applied to reduce Plan
                           expenses, and thereafter, to reduce employer
                           contributions.

                  (6)      The Minimum Company Contribution allocated to the
                           Employer Contribution Account of an Eligible
                           Participant pursuant to Section 5.2(F)(2) shall be
                           treated in the same manner as Matching Contributions
                           for all purposes of the Plan.

                  (7)      Notwithstanding any of the foregoing provisions to
                           the contrary, any allocation of salary reduction
                           contributions shall be made under either Section
                           5.2(B) or this Section 5.2(F), but not both Sections.
                           Similarly, any allocation of a Matching Employer
                           Contribution shall be made under either Section
                           5.2(C) or this Section 5.2(F), as appropriate, but
                           not both Sections.

                  (8)      Notwithstanding Section 2.1(WW) of the Plan, an
                           Eligible Participant who receives an allocation of a
                           contribution under this Section 5.2(F) shall be
                           treated as a Participant under the Plan for all
                           purposes.

         (G)      Allocation of Amounts Transferred from Freeman Plan: The
assets transferred to this Plan from the Freeman Plan shall be allocated to the
appropriate accounts of the Plan Participants in the following manner:

                  (1)      Amounts allocated to the Participant's Employee
                           Contribution Account in the Freeman Plan (including
                           Employer Stock) shall be allocated to the
                           Participant's Employee Contribution Account in this
                           Plan;

                  (2)      Amounts allocated to the Participant's Salary
                           Reduction Contribution Account in the Freeman Plan
                           (including Employer Stock) shall be allocated to the
                           Participant's Salary Reduction Contribution Account
                           in this Plan;

                  (3)      Amounts allocated to the Participant's Vested
                           Rollover Contribution Account in the Freeman Plan
                           (including Employer Stock) shall be allocated to the
                           Participant's Vested Rollover Contribution Account in
                           this Plan;

                  (4)      Employer Stock allocated to the Participant's
                           Employer Contribution Account in the Freeman Plan
                           shall be allocated to the Participant's Employer
                           Contribution Account in this Plan; and

                                     - 22 -

<PAGE>

                  (5)      Amounts allocated to the Participant's Grandfathered
                           Account in the Freeman Plan (including Employer
                           Stock) shall be allocated to the Participant's
                           Grandfathered Account in this Plan, which shall be
                           established prior to the transfer of such assets to
                           this Plan.

5.3      ACTUAL DEFERRAL PERCENTAGE TEST.

         Notwithstanding any other provisions of the Plan,

         (A)      The Actual Deferral Percentage for Participants who are Highly
Compensated Employees for each Plan Year and the ADP for Participants who are
non-Highly Compensated Employees for the same Plan Year must satisfy one of the
following tests:

                  (1)      The ADP for Participants who are Highly Compensated
                           Employees for the current Plan Year shall not exceed
                           the ADP for Participants who are non-Highly
                           Compensated Employees for the same Plan Year
                           multiplied by one and twenty-five one hundredths
                           (1.25); or

                  (2)      The ADP for Participants who are Highly Compensated
                           Employees for the current Plan Year shall not exceed
                           the ADP for Participants who are non-Highly
                           Compensated Employees for the same Plan Year
                           multiplied by two (2), provided that the ADP for
                           Participants who are Highly Compensated Employees
                           does not exceed the ADP for Participants who are
                           non-Highly Compensated Employees by more than two (2)
                           percentage points.

         (B)      The ADP for any Participant who is a Highly Compensated
Employee for the Plan Year and who is eligible to have Elective Deferrals (and
Qualified Non-Elective Contributions or Qualified Matching Contributions, or
both, if treated as Elective Deferrals for purposes of the ADP test) allocated
to his or her accounts under two or more arrangements described in Section
401(k) of the Code, that are maintained by the Employer, shall be determined as
if such Elective Deferrals (and, if applicable, such Qualified Non-Elective
Contributions or Qualified Matching Contributions, or both) were made under a
single arrangement. If a Highly Compensated Employee participates in two or more
cash or deferred arrangements that have different Plan Years, all cash or
deferred arrangements ending with or within the same calendar year shall be
treated as a single arrangement.

         (C)      In the event that this Plan satisfies the requirements of
Sections 401(k), 401(a)(4), or 410(b) of the Code only if aggregated with one or
more other plans, or if one or more other plans satisfy the requirements of such
Sections of the Code only if aggregated with this Plan, then this Section shall
be applied by determining the ADP of Employees as if all such plans were a
single plan. For Plan Years beginning on and after December 31, 1989, plans may
be aggregated in order to satisfy Section 401(k) of the Code only if they have
the same Plan Year.

         (D)      [intentionally omitted]

                                     - 23 -

<PAGE>

         (E)      For purposes of determining the ADP test, Elective Deferrals,
Qualified Non-Elective Contributions and Qualified Matching Contributions must
be made before the last day of the twelve (12) month period immediately
following the Plan Year to which contributions relate. Elective Deferrals will
be taken into consideration in performing the Actual Deferral Percentage Test
only if each of the following requirements is satisfied:

                  (1)      The Elective Deferral is allocated to the
                           Participant's Salary Reduction Contribution Account
                           as of a date within the Plan Year. For purposes of
                           this paragraph (1), an Elective Deferral is
                           considered allocated as of a date within a Plan Year
                           only if (a) the allocation is not contingent upon the
                           Participant's Participation in the Plan or
                           performance of services on any date subsequent to
                           that date, and (b) the Elective Deferral is actually
                           paid to the Trust no later than the end of the twelve
                           (12) month period immediately following the Plan Year
                           to which the Elective Deferral relates; and

                  (2)      The Elective Deferral relates to Annual Compensation
                           that either (a) would have been received by the
                           Participant in the Plan Year but for the Employee's
                           election to defer under Section 4.2 or (b) is
                           attributable to services performed by the Participant
                           in the Plan Year and, but for the Participant's
                           election to defer under Section 4.2 would have been
                           received by the Participant within two and one-half
                           (2 1/2) months after the close of the Plan Year.

         (F)      The Employer shall maintain records sufficient to demonstrate
satisfaction of the ADP test and the amount of Qualified Non-Elective
Contributions or Qualified Matching Contributions, or both, used in such test.

         (G)      The determination and treatment of the ADP amounts of any
Participant shall satisfy such other requirements as may be prescribed by the
Secretary of the Treasury.

         (H)      Qualified Matching Contributions and Qualified Non-Elective
Contributions may be taken into account as Elective Deferrals for purposes of
calculating the Actual Deferral Percentages.

5.4      AVERAGE CONTRIBUTION PERCENTAGE TEST.

         Notwithstanding any other provision of the Plan,

         (A)      Employee Contributions and Matching Contributions must meet
the nondiscrimination requirements of Section 401(a)(4) of the Code, and the
Average Contribution Percentage test of Section 401(m) of the Code. The ACP test
is required in addition to the ADP test under Code Section 401(k). Qualified
Matching Contributions and Qualified Non-Elective Contributions used to satisfy
the ADP test may not be used to satisfy the ACP test.

         (B)      The ACP for Participants who are Highly Compensated Employees
for each Plan Year and the ACP for Participants who are non-Highly Compensated
Employees for the same Plan Year must satisfy one of the following tests:

                                     - 24 -

<PAGE>

                  (1)      The ACP for Participants who are Highly Compensated
                           Employees for the current Plan Year shall not exceed
                           the ACP for Participants who are non-Highly
                           Compensated Employees for the same Plan Year
                           multiplied by one and twenty-five one hundredths
                           (1.25); or

                  (2)      The ACP for Participants who are Highly Compensated
                           Employees for the current Plan Year shall not exceed
                           the ACP for Participants who are non-Highly
                           Compensated Employees for the same Plan Year
                           multiplied by two (2), provided that the ACP for
                           Participants who are Highly Compensated Employees
                           does not exceed the ACP for Participants who are
                           non-Highly Compensated Employees by more than two (2)
                           percentage points.

         (C)      Multiple Use: If one or more Highly Compensated Employees
participate in both a CODA and a plan subject to the ACP test maintained by the
Employer and the sum of the ADP and ACP of those Highly Compensated Employees
subject to either or both tests exceeds the Aggregate Limit, then the ACP of
those Highly Compensated Employees who also participate in a CODA will be
reduced (beginning with such Highly Compensated Employee whose ACP is the
highest) so that the limit is not exceeded. The amount by which each Highly
Compensated Employee's Contribution Percentage Amounts is reduced shall be
treated as an Excess Aggregate Contribution. The ADP and ACP of the Highly
Compensated Employees are determined after any corrections required to meet the
ADP and ACP tests. Multiple use does not occur if either the ADP or ACP of the
Highly Compensated Employees does not exceed one and twenty-five one hundredths
(1.25) multiplied by the ADP and ACP of the non-Highly Compensated Employees.
This Section 5.4(C) shall not apply for Plan Years beginning after December 31,
2001.

         (D)      For purposes of this Section, the Average Contribution
Percentage for any Participant who is a Highly Compensated Employee and who is
eligible to have Contribution Percentage Amounts allocated to his or her account
under two or more plans described in Section 401(a) of the Code, or arrangements
described in Section 401(k) of the Code that are maintained by the Employer,
shall be determined as if the total of such Contribution Percentage Amounts was
made under each plan. If a Highly Compensated Employee participates in two or
more cash or deferred arrangements that have different Plan Years, all cash or
deferred arrangements ending with or within the same calendar year shall be
treated as a single arrangement.

         (E)      In the event that this Plan satisfies the requirements of
Section 401(m), 401(a)(4) or 410(b) of the Code only if aggregated with one or
more other plans, or if one or more other plans satisfy the requirements of such
Sections of the Code only if aggregated with this Plan, then this Section shall
be applied by determining the Contribution Percentage of Employees as if all
such plans were a single plan. For Plan Years beginning after December 31, 1989,
plans may be aggregated in order to satisfy Section 401(m) of the Code only if
they have the same Plan Year.

         (F)      [intentionally omitted]

                                     - 25 -

<PAGE>

         (G)      For purposes of determining the ACP test, Employee
Contributions are considered to have been made in the Plan Year in which
contributed to the Trust. Matching Contributions and Qualified Non-Elective
Contributions will be considered made for a Plan Year if made no later than the
end of the twelve (12) month period beginning on the day after the close of the
Plan Year.

         The Employer shall maintain records sufficient to demonstrate
satisfaction of the ACP test and the amount of Qualified Non-Elective
Contributions or Qualified Matching Contributions, or both, used in such test.

         The determination and treatment of the Contribution Percentage of any
Participant shall satisfy such other requirements as may be prescribed by the
Secretary of the Treasury.

5.5      DISTRIBUTION OF EXCESS AGGREGATE CONTRIBUTIONS.

         (A)      Notwithstanding any other provisions of this Plan, Excess
Aggregate Contributions, plus any Income allocable thereto, shall be forfeited,
if forfeitable, or if not forfeitable, distributed no later than the last day of
each Plan Year to Participants to whose accounts such Excess Aggregate
Contributions were allocated for the preceding Plan Year. For Plan Years
beginning on and after January 1, 1997, the amount of the distribution or
forfeiture in respect of a Highly Compensated Employee shall be determined in
the following manner: first, the Employee Contributions and Matching
Contributions of the Highly Compensated Employee with the highest amount of
Employee Contributions and Matching Contributions shall be reduced to the amount
of the Employee Contributions and Matching Contributions of the Highly
Compensated Employee with the next highest amount (provided, that if a lesser
reduction would cause the ACP test to be met, such lesser reduction shall be
made); second, if the total amount distributed is less than the Excess Aggregate
Contributions for all Highly Compensated Employees, reductions shall continue in
this manner until the total amount distributed equals the Excess Aggregate
Contributions for all Highly Compensated Employees.

For this purpose, each forfeiture or distribution of Excess Aggregate
Contributions that occurs shall be treated as reducing both the amount of such
contributions and the adjusted percentage that is determined for the affected
Participant under Section 5.4. If such Excess Aggregate Contributions are
distributed more than two and one-half (2-1/2) months after the last day of the
Plan Year in which such excess amounts arose, a ten (10) percent excise tax will
be imposed on the Employer maintaining the Plan with respect to those amounts.
Excess Aggregate Contributions shall be treated as Annual Additions under the
Plan.

         (B)      Excess Aggregate Contributions shall be adjusted for any
Income allocable until the end of the Plan Year (excluding any gap period after
the end of that Plan Year and up to the date of distribution in the subsequent
Plan Year). The Income allocable to Excess Aggregate Contributions shall be as
determined under the Plan's normal method of accounting.

         (C)      Forfeitures of Excess Aggregate Contributions may either be
reallocated to the Accounts of non-Highly Compensated Employees or applied to
reduce Employer contributions.

         (D)      Excess Aggregate Contributions shall be forfeited, if
forfeitable, or distributed on a pro rata basis from the Participant's Accounts.

                                     - 26 -

<PAGE>

         (E) In addition, in lieu of distributing Excess Contributions as
provided in the Plan, or Excess Aggregate Contributions as provided in the Plan,
the Employer may make Qualified Non-Elective Contributions on behalf of
non-Highly Compensated Employees that are sufficient to satisfy either the
Actual Deferral Percentage test or the Average Contribution Percentage Test, or
both, pursuant to the regulations under the Code.

5.6      DISTRIBUTION OF EXCESS ELECTIVE DEFERRALS.

         (A)      No Participant shall be permitted to have Elective Deferrals
made under this Plan, or any other qualified plan maintained by the Employer,
during any taxable year in excess of the dollar limitation contained in Section
402(g) of the Code in effect at the beginning of such taxable year, except to
the extent permitted under Section 4.1(A)(2) hereof and Section 414(v) of the
Code.

         (B)      A Participant may assign to this Plan any Excess Elective
Deferrals made during a taxable year of the Participant by notifying the
Committee on or before the date specified in Section 5.6(E) of the amount of the
Excess Elective Deferrals to be assigned to the Plan.

         (C)      Notwithstanding any other provision of the Plan, Excess
Elective Deferrals, plus any Income allocable thereto, shall be distributed no
later than April 15th to any Participant to whose account Excess Elective
Deferrals were assigned for the preceding year and who claims Excess Elective
Deferrals for such taxable year. In addition, excess deferrals and other
contributions described in Section 5.3, plus any Income allocable thereto, shall
be distributed no later than the end of each Plan Year to Participants to whose
accounts they were allocated for the preceding Plan Year. For purposes of
calculating the distribution of excess amounts pursuant to Section 5.3, each
distribution of Excess Elective Deferrals and other contributions that occurs
shall be treated as reducing both the amount of the deferrals and the adjusted
percentage that is determined for the affected Participant under Section 5.3.

         (D)      Excess Elective Deferrals shall be adjusted for any Income
allocable until the end of the Plan Year (excluding any gap period after the end
of that Plan Year and up to the date of distribution in the subsequent Plan
Year). The Income allocable to Excess Elective Deferrals shall be as determined
under the Plan's normal method of accounting.

         (E)      Participants who claim Excess Elective Deferrals for the
preceding taxable year must submit their claims to the Committee in the manner
prescribed by the Committee by March 15th of the current taxable year.

5.7      DISTRIBUTION OF EXCESS CONTRIBUTIONS.

         (A)      Notwithstanding any other provision of this Plan, Excess
Contributions, plus any Income allocable thereto, shall be distributed no later
than the last day of each Plan Year to Participants to whose accounts such
Excess Contributions were allocated for the preceding Plan Year. If such excess
amounts are distributed more than two and one-half (2 1/2) months after the last
day of the Plan Year in which such excess amounts arose, a ten (10) percent
excise tax will be imposed on the Employer maintaining the Plan with respect to
such amounts. Such distributions shall be made to Highly Compensated Employees
on the basis of the respective portions of the Excess Contributions attributable
to each of such Employees. For Plan Years

                                     - 27 -

<PAGE>

beginning on and after January 1, 1997, the amount of the distribution to a
Highly Compensated Employee shall be determined in the following manner: first,
the Elective Deferrals (and, if applicable, Qualified Non-Elective Contributions
or Qualified Matching Contributions, or both) of the Highly Compensated Employee
with the highest amount of Elective Deferrals (and, if applicable, Qualified
Non-Elective Contributions or Qualified Matching Contributions, or both) shall
be reduced to the amount of the Elective Deferrals (and, if applicable,
Qualified Non-Elective Contributions or Qualified Matching Contributions, or
both) of the Highly Compensated Employee with the next highest amount (provided,
that if a lesser reduction would cause the ADP test to be met, such lesser
reduction shall be made); second, if the total amount distributed is less than
the Excess Contributions for all Highly Compensated Employees, reductions shall
continue in this manner until the total amount distributed equals the Excess
Contributions for all Highly Compensated Employees. The method of correcting
Excess Contributions must, in any event, satisfy the nondiscrimination
requirements of Section 401(a)(4) of the Code.

         (B)      Excess Contributions (including the amounts recharacterized)
shall be treated as Annual Additions under the Plan.

         (C)      Excess Contributions shall be adjusted for any Income
allocable until the end of the Plan Year (excluding any gap period after the end
of the Plan Year and up to the date of distribution in the subsequent Plan
Year). The Income allocable to Excess Contributions shall be as determined under
the Plan's normal method of accounting.

         (D)      Excess Contributions shall be distributed from the accounts to
which the Participant's Elective Deferrals and Qualified Matching Contributions
(if applicable) were allocated in proportion to the Participant's Elective
Deferrals and Qualified Matching Contributions (to the extent used in the ADP
test) for the Plan Year. Excess Contributions shall be distributed from the
Participant's Qualified Non-Elective Contribution account only to the extent
that such Excess Contributions exceed the balance in the Participant's Elective
Deferral account and Qualified Matching Contribution account.

5.8      MAXIMUM ADDITIONS.

         (A)      (1)      Except as provided in Subsection (2) below, in no
                           event shall the total Annual Additions made to the
                           Salary Reduction Contribution Account, the Employer
                           Contribution Account and the Employee Contribution
                           Account of a Participant for any Limitation Year
                           exceed the lesser of Thirty Thousand Dollars
                           ($30,000.00) or twenty-five (25) percent of the
                           Participant's Compensation for such Limitation Year,
                           except that such $30,000 shall be increased as
                           permitted by Internal Revenue Service regulations to
                           reflect cost-of-living adjustments.

                  (2)      Except to the extent permitted under Section 4.1(A)
                           (2) hereof and Section 414(v) of the Code, the total
                           Annual Additions that may be contributed or allocated
                           to a Participant's Salary Reduction Contribution
                           Account, Employer Contribution Account and Employee
                           Contribution Account under the Plan for any
                           Limitation Year shall not exceed the lesser of Forty
                           Thousand Dollars ($40,000) or one hundred (100)
                           percent of the Participant's Compensation for such
                           Limitation Year, except that such

                                     - 28 -

<PAGE>

                           $40,000 shall be increased as permitted by the
                           Internal Revenue Service regulations to reflect
                           cost-of-living adjustments. The 100% limit set forth
                           in the preceding sentence shall not apply to any
                           contribution for medical benefits after a separation
                           from service (within the meaning of Section 401(h) or
                           Section 419A(f)(2) of the Code) which is otherwise
                           treated as an Annual Addition. This Subsection (A)(2)
                           is effective for Limitation Years beginning after
                           December 31, 2001.

         (B)      If such Annual Additions exceed the above limitations, the
contributions for the Limitation Year which cause the excess shall be returned
to the Participant in the following order:

                  (1)      Any contributions to such Participant's Employee
                           Contribution Account, to the extent they would reduce
                           the excess amount, will be returned to the
                           Participant.

                  (2)      If after the application of paragraph (1) an excess
                           amount still exists, any contributions to such
                           Participant's Salary Reduction Contribution Account,
                           to the extent they would reduce the excess amount,
                           will be returned to the Participant.

                  (3)      If after the application of paragraph (2) an excess
                           amount still exists, and the Participant is covered
                           by the Plan at the end of the Limitation Year, the
                           excess amount in the Participant's account will be
                           used to reduce Employer contributions to such
                           Participant's Employer Contribution Account, for such
                           Participant in the next Limitation Year, and each
                           succeeding Limitation Year, if necessary.

                  (4)      If after the application of paragraph (3) an excess
                           amount still exists, and the Participant is not
                           covered by the Plan at the end of the Limitation
                           Year, the excess amount will be held unallocated in a
                           suspense account. The suspense account will be
                           applied to reduce future Employer contributions of
                           that Participant's Employer to Employer Contribution
                           Accounts for all remaining Participants in the next
                           Limitation Year, and each succeeding Limitation Year,
                           if necessary. If a suspense account is in existence
                           at any time during the Limitation Year pursuant to
                           this Section, it will not participate in the
                           allocation of the Trust Income.

         (C)      Notwithstanding the foregoing, the otherwise permissible
Annual Additions for any Participant under this Plan may be further reduced to
the extent necessary, as determined by the Committee, to prevent
disqualification of the Plan under Section 415 of the Code, which imposes the
following additional limitations on the benefits payable to Participants who
also may be participating in other tax-qualified pension, profit-sharing,
savings or stock bonus plans maintained by the Employer or any of the members of
the controlled group of corporations (for the purposes of this Section
"Employers") of which the Employer is a part: If an individual is a Participant
at any time in both a defined benefit plan and a defined contribution plan
maintained by any of the Employers, the sum of the defined benefit plan fraction
and the defined

                                     - 29 -

<PAGE>

contribution plan fraction for any Limitation Year may not exceed one (1.0). The
defined benefit plan fraction for any Limitation Year is a fraction, the
numerator of which is the Participant's projected annual benefit under the Plan
(determined at the close of the Limitation Year) and the denominator of which is
the lesser of (i) the product of one and twenty-five one hundredths (1.25),
multiplied by the dollar limitation in effect under Section 415(b)(1)(A) of the
Code, or (ii) the product of one and four tenths (1.4), multiplied by the amount
which may be taken into account under Section 415(b)(1)(B) of the Code with
respect to such Participant under the Plan for such Limitation Year. The defined
contribution plan fraction for any Limitation Year is a fraction, the numerator
of which is the sum of the Annual Additions to the Participant's Accounts as of
the close of such Limitation Year, and the denominator of which is the sum of
the lesser of the following amounts determined for such Limitation Year and for
each prior year of service with the Employer; (i) the product of one and
twenty-five one hundredths (1.25), multiplied by the dollar limitation in effect
under Section 415(c)(1)(A) of the Code for such year, or (ii) the product of one
and four tenths (1.4), multiplied by the amount which may be taken into account
under Section 415(c)(1)(B) of the Code with respect to such Participants under
the Plan for such year. When the term "Annual Additions" is used in the context
of other defined contribution plans under this Section, it shall have the same
meaning as set forth in Section 2.1(G) hereof, but with respect to Employer
contributions and Employee Contributions made under such other plans. For
purposes of this limitation, all defined benefit plans of the Employers, whether
or not terminated, are to be treated as one defined benefit plan and all defined
contribution plans of the Employers, including the Plan whether or not
terminated, are to be treated as one defined contribution plan. As such, annual
benefits and Annual Additions of such plans are to be aggregated for the
purposes of determining the defined benefit plan fraction and the defined
contribution plan fraction. The extent to which Annual Additions under the Plan
shall be reduced, as compared with the extent to which annual benefits or Annual
Additions under any defined benefit plans or any other defined contribution
plans shall be reduced in order to achieve compliance with the limitations of
Code Section 415 shall be dependent on the provisions of such other plans. To
the extent any such other plan or plans provide for a reduction first in
benefits from or Annual Additions to such other plan or plans, the necessary
reductions shall be under such other plan or plans. To the extent any such other
plan or plans do not provide for a reduction first in benefits from or Annual
Additions to such other plan or plans, the reduction in Annual Additions
necessary to achieve compliance with Code Section 415 shall be under the Plan.
If the reduction is under this Plan, the Committee shall advise affected
Participants of any additional limitations on their Annual Additions required by
this Section 5.8. This Subsection (C) of Section 5.8 shall not apply for
Limitation Years beginning on or after January 1, 2000.

5.9      ADJUSTMENT OF MATCHING CONTRIBUTIONS SUBACCOUNT.

         In the event that a distribution of excess Elective Deferrals or Excess
Contributions is made pursuant to Section 5.6 or 5.7 of the Plan, the Matching
Contribution subaccount will be adjusted by the amount of any Employer
Contribution attributable to such excess Elective Deferrals or Excess
Contributions (the "excess matching contribution") plus the Income allocable to
any such excess matching contribution. The Income allocable to the excess
matching contribution shall be determined by the Committee in accordance with
any method permitted under Treasury Regulation Sections 1.401(m)-1(e)(3) or
1.401(k)-1(f)(4) as applicable. Any such excess matching contributions (and
earnings allocable thereto) will be forfeited and reallocated among the
unaffected Participant's Accounts pursuant to such rules as shall be adopted by
the

                                     - 30 -

<PAGE>

Committee, provided that such treatment is applied uniformly to all Participants
under the Plan for the Plan Year involved.

5.10     TOP-HEAVY PROVISIONS.

         (A)      The following provisions shall become effective in any Plan
Year in which the Plan is determined to be a Top-Heavy Plan, notwithstanding any
contrary provision in the Plan. The Plan will be considered a Top-Heavy Plan for
the Plan Year if as of the last day of the preceding Plan Year, (1) the value of
the sum of Salary Reduction Contribution Accounts, Employer Contribution
Accounts, Employee Contribution Accounts and Grandfathered Accounts (but not
including any allocations to be made as of such last day of the Plan Year except
contributions actually made on or before that date and allocated pursuant to
Section 5.2) of Participants who are Key Employees (as defined in Section 416(i)
of the Code) exceeds sixty (60) percent of the value of the sum of Salary
Reduction Contribution Accounts, Employer Contribution Accounts, Employee
Contribution Accounts and Grandfathered Accounts (but not including any
allocations to be made as of such last day of the Plan Year except contributions
actually made on or before that date and allocated pursuant to Section 5.2) of
all Participants (the "60% Test") or (2) the Plan is part of a required
aggregation group (within the meaning of Section 416(g) of the Code) and the
required aggregation group is top-heavy. However, and notwithstanding the result
of the 60% Test, the Plan shall not be considered a Top-Heavy Plan for any Plan
Year in which the Plan is a part of a required or permissive aggregation group
(within the meaning of Section 416(g) of the Code) which is not top-heavy.

         (B)      Notwithstanding any contrary provision of the Plan, and except
as otherwise provided in (C) and (D) below, for any Plan Year during which the
Plan is deemed a Top-Heavy Plan, Employer contributions pursuant to Section
5.2(C) which are allocated to Employer Contribution Accounts on behalf of any
Participant who is not a Key Employee shall not be less than the lesser of:

                  (1)      Three (3) percent of such Participant's Compensation;
                           or

                  (2)      The percentage at which contributions are made (or
                           required to be made) for the Plan Year under the Plan
                           for the Key Employee for whom such percentage is the
                           highest for that Plan Year.

         The above mentioned minimum allocation is determined without regard to
any Social Security contribution. The minimum allocation shall be made even
though, under other Plan provisions, the Participant would not otherwise be
entitled to receive an allocation, or would have received a lesser allocation
for the Plan Year.

         (C)      The provisions of (B), above, shall not apply to any
Participant who was not employed by the Employer on the last day of the Plan
Year preceding the Plan Year the Plan is considered to be a Top-Heavy Plan.

         (D)      The provisions of (B), above, shall not apply to any
Participant to the extent the Participant is covered under any other plan or
plans of the Employer and the Employer has provided in the Adoption Agreement
that the minimum allocation or benefit requirement applicable to top-heavy plans
will be met in the other plan or plans.

                                     - 31 -
<PAGE>

         (E)      The minimum allocation required in (B), above, (to the extent
required to be nonforfeitable under Section 416(b) of the Code) may not be
forfeited under Code Section 411(a)(3)(B) or 411(a)(3)(D).

         (F)      If a Participant's Termination of Employment occurs while the
Plan is a Top-Heavy Plan, such Participant's vested percentage in his Employer
Contribution Account shall be one hundred (100) percent vested and
non-forfeitable at all times.

         (G)      If the Plan becomes a Top-Heavy Plan and subsequently ceases
to be such, the vesting schedule in Section (F) of this Section to the extent it
is more favorable than any vesting schedule that may be contained in the Plan
shall continue to apply in determining the vested percentage of any Participant
who had at least five Years of Service as of December 31 in the last Plan Year
of top-heaviness. For other Participants, said more favorable schedule shall
apply only to their Employer Contribution Account balance as of such December
31. For the purposes of Section (F), "Year of Service" shall be defined in the
same manner as the term Year of Service is used for vesting purposes in the
event the Plan is amended to include a vesting provision. In the event that the
Plan is amended to change or modify any vesting schedule, a Participant with at
least three (3) Years of Service as of the expiration of the election period may
elect to have his nonforfeitable percentage computed under the Plan without
regard to such amendment. If a Participant fails to make such election, then
such Participant shall be subject to the new vesting schedule. The Participant's
election period shall commence on the adoption date of the amendment and shall
end sixty (60) days after the latest of:

                  (1)      the adopted date of the amendment;

                  (2)      the effective date of the amendment, or

                  (3)      the date the Participant receives notice of the
                           amendment from the Employer or Administrator.

         (H)      Notwithstanding any contrary provisions contained herein, for
any Plan Year in which the Plan is a Top-Heavy Plan, any benefits to which the
Participant who is a Key Employee is entitled shall commence not later than the
Participant's taxable year in which he or she attains age, seventy and one-half
(70 1/2) whether or not his or her employment has terminated in such year. If a
benefit distribution under the Plan is made to a Key Employee before he or she
attains age fifty nine and one-half (59 1/2), and during a Plan Year in which
the Plan is a Top-Heavy Plan, the Participant shall be advised by the Committee
that an additional Federal income tax may be imposed equal to ten (10) percent
of the portion of the amount so received which is included in his or her gross
income for such taxable year, unless such distribution is made on account of
death or Disability.

         (I)      For any Plan Year in which the Plan is a Top-Heavy Plan,
Section 5.4(C) shall be read by substituting the number one (1.00) for the
number one and twenty-five one hundredths (1.25) wherever it appears therein
except that such substitution shall not have the effect of reducing any benefit
accrued under a defined benefit plan prior to the first day of the Plan Year in
which this provision becomes applicable.

                                     - 32 -
<PAGE>

         (J)      Neither Elective Deferrals nor Matching Contributions may be
taken into account for the purpose of satisfying the minimum top-heavy
contribution requirement. Notwithstanding the foregoing, effective for Plan
Years beginning after December 31, 2001, Matching Contributions shall be taken
into account for this purpose. The preceding sentence shall apply with respect
to Matching Contributions under the plan or, if the minimum contribution
requirement is to be met in another plan, such other plan. Matching
Contributions that are used to satisfy the minimum contribution requirement
shall be treated as "matching contributions" for purposes of the ACP test and
other requirements of Section 401(m) of the Code.

         (K)      Notwithstanding anything in this Section 5.10 to the contrary,
in the event that the Plan shall be determined by the Committee (in its sole and
absolute discretion, but pursuant to the provisions of Section 416 of the Code)
to be a constituent in an "aggregation group," this Plan shall be considered a
Top-Heavy Plan only if the "aggregation group" is a "top-heavy group." For
purposes of this Section 5.10, an "aggregation group" shall include the
following:

                  (1)      Each plan intended to qualify under Section 401(a) of
                           the Code sponsored by an Employer in which one (1) or
                           more Key Employees participate;

                  (2)      Each other plan of an Employer that is considered in
                           conjunction with a plan referred to in clause (1) in
                           determining whether or not the nondiscrimination and
                           coverage requirements of Section 401(a)(4) or Section
                           410 of the Code are met; and

                  (3)      If the Committee, in the exercise of its discretion,
                           so chooses, any other such plan of an Employer which,
                           if considered as a unit with the plans referred to in
                           clauses (1) and (2), satisfies the requirements of
                           Code Section 401(a) and Code Section 410.

A "top-heavy group" for purposes of this Section 5.10 is an "aggregation group"
in which the sum of the present value of the cumulative accrued benefits for Key
Employees under all "defined benefit plans" (as defined in Section 414(j) of the
Code) included in such group plus the aggregate account balances of Key
Employees under all "defined contribution plans" (as defined in Section 414(i)
of the Code) included in such group exceeds sixty (60) percent of the total of
such similar sum determined for all employees and beneficiaries covered by all
such plans. The present value of the cumulative accrued benefits and the
aggregate account balances shall be made in accordance with Section 416(g) of
the Code and the applicable regulations promulgated thereunder.

5.11     SECURITIES LAW REQUIREMENTS.

         The Plan is intended to comply with the requirements for exemption from
liability under Section 16(b) of the Securities Exchange Act of 1934 ("1934
Act") in the case of any transaction that is reportable under Section 16(a) of
the 1934 Act. Accordingly, the Plan shall be interpreted and administered so as
to preserve such exemption under Rule 16b-3 or any other applicable rules and
regulations promulgated pursuant to Section 16 of the 1934 Act with respect to
any Plan transaction that is reportable by a Participant, Beneficiary, or other
person, including, if

                                     - 33 -
<PAGE>

applicable, the Trust, who is a Company officer, director, or ten (10) percent
beneficial owner subject to Section 16 of the 1934 Act (hereinafter, a "Section
16 Insider").

         The Plan is a written pension or retirement plan with broad-based
Employee participation and objective, nondiscriminatory rules that are subject
to the Code's qualification requirements and the requirements of ERISA,
including ERISA reporting rules that make the Plan subject to an annual audit by
independent accountants and ERISA fiduciary rules that protect the interests of
all Plan Participants and Beneficiaries, including Section 16 Insiders.

         The Plan is intended to satisfy the revised Section 16 rules that apply
to transactions occurring on or after August 15, 1996. Under these newly-issued
rules, the Plan is designed to be a "Tax-Conditioned" plan and is designed to
comply with the exemption for "Discretionary Transactions." Under these new
rules, any acquisition or disposition of Employer Stock held in the Plan, except
for Discretionary Transactions, is exempt, provided that the Plan satisfies the
definition of a "qualified plan." Because the Plan satisfies the coverage and
participation requirements set forth in Sections 410 of the Code (as the new
Section 16 rules require), the Plan will be deemed to be a qualified plan under
the new Section 16 rules. Even though transactions under the Plan involving
Employer Stock are generally exempt under Section 16, Discretionary Transactions
must nevertheless satisfy certain timing requirements. A Discretionary
Transaction is any transaction under the Plan that (i) is at the volition of a
Plan Participant, (ii) is not made in connection with the Participant's death,
Disability, retirement, or Termination of Employment, (iii) is not required to
be made available to a Plan Participant pursuant to any provision of the Code,
and (iv) results in either an intra-plan transfer involving Employer Stock, or a
cash distribution funded by a volitional disposition of Employer Stock. A
Discretionary Transaction will be exempt under the new Section 16 rules only if
it is effected pursuant to an election made at least six months following the
date of the most recent election that effected a Discretionary Transaction that
was an acquisition, if the transaction to be exempted would be a disposition, or
a disposition, if the transaction to be exempted would be an acquisition. The
Committee has the authority to implement such timing restrictions for
Discretionary Transactions with respect to Section 16 Insiders.

                                     - 34 -
<PAGE>

                             ARTICLE VI. - BENEFITS

6.1      ENTITLEMENT TO BENEFITS.

         If a Participant's employment with the Employer is terminated (within
the meaning set forth in Section 3.2), he or she shall be vested in the entire
amount in each of his or her Accounts. Except as provided in Section 6.3 hereof,
payment of benefits shall commence promptly after such Termination of
Employment.

6.2      DEATH.

         (A)      In the event that the Termination of Employment of a
Participant is caused by his or her death, his or her Beneficiary shall be
vested in, and paid the entire amount of, each of the deceased Participant's
Accounts. Payment shall commence promptly after the Participant's death, but the
Beneficiary shall not be entitled to receive such payment until the Committee is
reasonably satisfied that such Beneficiary is otherwise entitled to receive such
payment.

         (B)      Payment of benefits due under this Section shall be made in
accordance with Section 6.3.

6.3      PAYMENT OF BENEFITS.

         (A)      Except as provided in Appendix A, payment of a Participant's
Accounts shall be made as provided in this Section 6.3. Upon a Participant's or
Beneficiary's entitlement to payment of benefits under Section 6.1 or 6.2, he or
she shall file with the Committee his or her application therefor in such a
manner, on such form or forms, and subject to such reasonable conditions, as the
Committee shall provide.

         (B)      The Committee shall follow a Participant's Beneficiary
designation made pursuant to Section 6.4. The Committee shall make payment of
benefits in one lump sum only. Payment to a Participant's Beneficiary shall be
made or commence as soon as practicable after a Participant's death and upon
such proofs of death and entitlement to benefits as the Committee may require.

         (C)      Except as otherwise provided below, every Participant who has
a separation from service for any reason, including retirement, death or
Disability, shall have his or her vested Account, valued as of the effective
date of the distribution, distributed as soon as practicable following the
Termination of Employment:

                  (1)      For Plan Years beginning on and after December 1,
                           2000, if the vested balance in the Participant
                           Accounts (including any portion thereof which is
                           attributable to rollover contributions within the
                           meaning of Section 402(c) of the Code) exceeds Five
                           Thousand Dollars ($5,000) at the time that the
                           distribution would occur, then no distribution shall
                           be made to the Participant before the date specified
                           in Section 6.8, unless the Participant consents in
                           writing to an earlier distribution; and

                  (2)      For Plan Years ending on or before November 30, 2000,
                           if the vested balance in the Participant Accounts
                           exceeds Three Thousand Five

                                     - 35 -
<PAGE>

                           Hundred Dollars ($3,500) at the time that the
                           distribution would occur, then no distribution shall
                           be made to the Participant before the date specified
                           in Section 6.8, unless the Participant consents in
                           writing to an earlier distribution.

Thus (but subject to the next following paragraph), if under the age specified
in Section 6.8, a Participant whose vested Account balance exceeds the
applicable dollar threshold set forth in clause (1) or (2) above at the time
that the distribution would occur may elect to defer receipt of such balance
until that date by withholding consent to the distribution. A Beneficiary does
not have a similar right to defer a distribution of the Participant's vested
Account balance following the Participant's death.

In addition, for Plan Years beginning on and after December 1, 2000, if, as of
the last day of the Plan Year, the vested balance of the Account (including any
portion thereof which is attributable to rollover contributions within the
meaning of Section 402(c) of the Code) of a Participant who has previously had a
separation from service for any reason, including retirement, death or
Disability, does not exceed five thousand Dollars ($5,000), such Participant
shall have his or her vested Account, valued as of the effective date of the
distribution, distributed (if not distributed previously) as soon as practicable
following the end of such Plan Year (an "Involuntary Cash-Out").

         (D)      The amount that a Participant or Beneficiary is entitled to
receive at any time and from time to time may be paid, in the discretion of the
Participant or Beneficiary, in cash or in Employer Stock, or in any combination
thereof, provided, however, payment in Employer Stock may be limited to the
extent a Participant's Account balances are invested in whole shares of such
Employer Stock under Section 7.2, and the Committee may require that all such
Employer Stock be transferred to such Participant or Beneficiary.

         (E)      To the extent required by the regulations issued under Code
Section 411(a)(11), at least 30 days but not more than 90 days before a
Participant's scheduled benefit commencement date, the Committee shall provide
to the Participant a written explanation of his right to defer receipt of the
distribution. Such distributions may commence less than 30 days after the notice
required under Section 1.411(a)-11(c) of the Federal Income Tax Regulations is
given, provided that:

                  (1)      the Committee clearly informs the Participant that
                           the Participant has a right to a period of at least
                           30 days after receiving the notice to consider the
                           decision of whether or not to elect a distribution
                           (and, if applicable, a particular distribution
                           option); and

                  (2)      the Participant, after receiving the notice,
                           affirmatively elects a distribution.

6.4      DESIGNATION OF BENEFICIARY.

         (A)      Each Participant from time to time may designate any person or
persons (who may be designated contingently or successively and who may be an
entity other than a natural person) as his or her Beneficiary or Beneficiaries
to whom his Plan benefits are paid if he or she

                                     - 36 -
<PAGE>

dies before receipt of all such benefits. Each Beneficiary designation shall be
in the form prescribed by the Committee, will be effective only when filed with
the Committee during the Participant's lifetime, and, if the Committee allows,
may specify the method of payment of his or her benefits to the Beneficiary.
Each Beneficiary designation filed with the Committee will cancel all
Beneficiary designations previously filed with the Committee. The revocation of
a Beneficiary designation by a Participant, no matter how effected, shall not
require the consent of any designated Beneficiary unless the Beneficiary
affected is the Participant's spouse, in which case such spouse's consent shall
be required to effect any such revocation in accordance with Section 6.4(C). By
designating a Beneficiary or Beneficiaries as hereunder provided, a Participant
grants the Committee the discretion, in good faith, to make benefit payment(s)
to any Beneficiary or Beneficiaries named by such Participant despite any
dispute by any person or persons claiming such benefits, and holds the Plan, the
Employer and the Committee harmless from any claims arising out of any such good
faith payment(s) of benefits. Each Participant by designating a Beneficiary or
Beneficiaries, authorizes the Committee to retain any benefits otherwise payable
in the Trust Fund or, in its sole discretion, pay-over such benefits to a court
or other tribunal of competent jurisdiction pending the final and binding
disposition of any dispute as to the proper Beneficiary or Beneficiaries by
agreement of the parties or by a judgment of such court or other tribunal of
competent jurisdiction, as the case may be.

         (B)      If any Participant fails to designate a Beneficiary in the
manner provided above, or if the Beneficiary or Beneficiaries designated by a
deceased Participant die(s) before him or her or before complete distribution of
the Participant's benefits, the Committee, in its sole discretion, may direct
the Trustee to distribute such Participant's benefits (or the balance thereof)
in the following order to:

                  (1)      The surviving spouse of such Participant or, if not
                           living,

                  (2)      The estate of such Participant.

         (C)      Notwithstanding anything contained herein to the contrary, a
Participant may not name as a Beneficiary someone other than his or her spouse,
and such designation shall have no effect, unless his or her spouse consents
thereto, in a signed writing which is notarized or witnessed by a Plan
representative, or if the Committee determines in its sole discretion that such
consent is not obtainable for good cause shown, consistent with applicable law.

6.5      WITHDRAWALS.

         (A)      Subject to Sections (B), (C), (D), and (E) of this Section
6.5, any Participant may make a withdrawal of all or part of his or her Employee
Contribution Account, Salary Reduction Contribution Account, Vested Rollover
Contribution Account and Grandfathered Account, provided, however, that
withdrawals must be made of all amounts in each classification below (listed in
descending order) before amounts in the next lower classification may be
withdrawn.

                                     - 37 -
<PAGE>

                  (1)      Employee Contribution Account.

                  (2)      Salary Reduction Contribution Account.

                  (3)      Vested Rollover Contribution Account.

                  (4)      Grandfathered Account.

         (B)      A Participant must have attained age fifty-nine and one-half
(59 1/2) or have been determined by the Committee to have a "hardship" in
accordance with Section 6.5(D) in order to qualify for a withdrawal under
Section 6.5(A) with respect to his or her Salary Reduction Contribution Account
and/or Vested Rollover Contribution Account balances. Except for a Participant
who is age fifty-nine and one-half (59 1/2) or older and who withdraws his
entire Account balances, a Participant may not withdraw any amounts from his or
her Employer Contribution Account or from the Regular Subaccount of his or her
Grandfathered Account.

         (C)      Application for withdrawals shall be made on such forms as the
Committee prescribes and as permitted herein, and may be made once each calendar
month. Except as provided in Section 6.5(E), distribution of withdrawals shall
be made in a lump sum within forty-five (45) days following receipt by the
Committee of a properly completed application. Withdrawal distributions shall be
based on the value of the Participant's Account(s) as of the effective date of
the withdrawal, and subject to the provisions of Section 6.7, may be made in the
discretion of the Participant in the form of cash, or in Employer Stock or in
any combination thereof, provided, however, payment in Employer Stock shall be
limited to the extent a Participant's Account balances are invested in whole
shares of such Employer Stock under Section 7.2 and the Committee may require
that all such Employer Stock be transferred to such Participant or Beneficiary.

         (D)      Distribution of Elective Deferrals (and earnings thereon
accrued as of December 31, 1988) may be made to a Participant in the event of
hardship. For the purposes of this Section, hardship is defined as an immediate
and heavy financial need of the Employee where such Employee lacks other
available resources. The following are the only financial needs considered
immediate and heavy: deductible medical expenses (within the meaning of Section
213(d) of the Code) of the Employee, the Employee's spouse, children, or
dependents; the purchase (excluding mortgage payments) of a principal residence
for the Employee; payment of tuition or room and board for the next quarter or
semester of post-secondary education for the Employee, the Employee's spouse,
children or dependents; or the need to prevent the eviction of the Employee
from, or a foreclosure on the mortgage of, the Employee's principal residence. A
distribution will be considered as necessary to satisfy an immediate and heavy
financial need of the Employee only if:

                  (1)      The Employee has obtained all distributions other
                           than hardship distributions, and all nontaxable loans
                           under all plans maintained by the Employer;

                  (2)      All plans maintained by the Employer provide that the
                           Employee's Elective Deferrals (and Employee
                           Contributions) will be suspended for

                                     - 38 -
<PAGE>

                           twelve months after the receipt of the hardship
                           distribution; provided, however, that (i) a
                           Participant who receives a distribution of Elective
                           Deferrals after December 31, 2001, on account of
                           hardship shall be prohibited from making Elective
                           Deferrals (and Employee Contributions) under this and
                           all other plans of the Employer for six months after
                           receipt of the distribution, and (ii) a Participant
                           who receives a distribution of Elective Deferrals in
                           calendar year 2001 on account of hardship shall be
                           prohibited from making Elective Deferrals (and
                           Employee Contributions) under this and all other
                           plans of the Employer for six months after receipt of
                           the distribution or until January 1, 2002, if later.

                  (3)      The distribution is not in excess of the amount of an
                           immediate and heavy financial need.

         A distribution based upon financial hardship cannot exceed the amount
required to meet the immediate financial need created by the hardship and not
reasonably available from other resources of the Participant. Entitlement to a
distribution based on financial hardship shall be determined by the Committee in
its sole and exclusive discretion. The Committee may require such reasonable
proof of immediate financial need as it deems necessary to uniformly and fairly
administer this Section 6.5, as a condition precedent to any distribution by
reason of financial hardship.

         (E)      Notwithstanding anything contained in Section 6.5(B) regarding
the age of a Participant or financial hardship to the contrary, a Participant
may withdraw all or a portion of his or her Employee Contribution Account once
each calendar month regardless of his or her age or the existence of any
financial hardship if such Participant satisfies all of the other terms and
conditions contained in this Section 6.5.

6.6      SPOUSAL CONSENT.

         Notwithstanding anything contained herein to the contrary, a
Participant may not make a withdrawal unless his or her spouse consents thereto
in a signed writing, notarized or witnessed by an administrator of the Plan, or
if the Committee determines in its sole discretion that such consent is not
obtainable for good cause shown, and consistent with applicable law.

6.7      DEBITING OF INVESTMENT FUNDS.

         If a Participant making less than a total withdrawal of his or her
Accounts under Section 6.5 has his or her Accounts invested in more than one
Investment Fund, the amount withdrawn from his or her Accounts shall be debited,
on a pro rata basis, against each Investment Fund in which such Accounts are
invested.

6.8      REQUIRED DISTRIBUTIONS.

         In accordance with Code Section 401(a)(9) and the regulations issued
thereunder, distribution of the Account balances of a Participant will be made
by April 1st of the year following the calendar year in which such Participant
attains age seventy and one-half (70 1/2), and any balances that arise
thereafter will be distributed by each December 31st thereafter. If the
Participant has not yet terminated employment and has balances invested in
Employer Stock, the distribution of such balances shall, to the maximum extent
possible, be made in whole shares of

                                     - 39 -
<PAGE>

Employer Stock. Notwithstanding anything herein to the contrary, effective for
years beginning on or after January 1, 1997, (i) if a Participant is not a five
(5) percent owner (as defined in Code Section 416), the distribution of the
Participant's Account balances shall be made not later than the April 1st of the
calendar year following the later of (x) the calendar year in which the
Participant attains age seventy and one-half (70 1/2) and (y) the calendar year
in which the Participant retires, and (ii) if a Participant is a five (5)
percent owner, the distribution of the Participant's Account balances shall be
made not later than the April 1st of the calendar year following the calendar
year in which the Participant attains age seventy and one-half (70 1/2) even if
the Participant has not incurred a Termination of Employment by such date.

6.9      DISTRIBUTION REQUIREMENTS.

         (A)      Elective Deferrals, Qualified Non-Elective Contributions, and
Qualified Matching Contributions, and Income allocable to each, must comply with
the distribution requirements under Section 401(k)(2)(B) of the Code.

         (B)      Elective Deferrals, Qualified Non-Elective Contributions, and
Qualified Matching Contributions, and Income allocable to each, are not
distributable to a Participant or his or her Beneficiary or Beneficiaries in
accordance with such Participant's or Beneficiary or Beneficiaries' election,
earlier than (i) for distributions made on or prior to December 31, 2001, upon
separation from service, death or Disability, and (ii) for distributions made
after December 31, 2001, upon severance from employment, death or Disability.

         (C)      Such amounts may also be distributed upon:

                  (1)      Termination of the Plan without the establishment or
                           maintenance of another defined contribution plan
                           (other than an employee stock ownership plan as
                           defined in Section 4975(e)(7) of the Code).

                  (2)      For distributions on or prior to December 31, 2001,
                           the disposition by a corporation to an unrelated
                           corporation of substantially all of the assets
                           (within the meaning of Section 409(d)(2) of the Code)
                           used in a trade or business of such corporation if
                           such corporation continues to maintain this Plan
                           after the disposition, but only with respect to
                           Employees who continue employment with the
                           corporation acquiring such assets.

                  (3)      For distributions on or prior to December 31, 2001,
                           the disposition by a corporation to an unrelated
                           entity of such corporation's interest in a subsidiary
                           (within the meaning of Section 409(d)(3) of the Code)
                           if such corporation continues to maintain this plan,
                           but only with respect to Employees who continue
                           employment with such subsidiary.

                  (4)      The attainment of age fifty-nine and one-half (59
                           1/2).

                  (5)      The hardship of the Participant subject to the
                           provisions of Section 6.5(D) of the Plan.

                                     - 40 -
<PAGE>

         All distributions that may be made pursuant to one or more of the
foregoing distributable events are subject to the spousal and Participant
consent requirements (if applicable) contained in Sections 401(a)(11) and 417 of
the Code.

6.10     LOANS TO PARTICIPANTS.

         (A)      The Committee may, in its sole discretion, and upon such terms
and conditions as it may require, direct the Trustee to loan a Participant an
amount which, when added to all loans outstanding under the Plan and made by the
Participant, does not exceed the allowable portion, as determined under the
following table, of the Participant's total Account balances:

<TABLE>
<CAPTION>
                                                Maximum Loan
                                        (Allowable Portion of Total
Total Vested Balance                         Account Balances)
--------------------                   ----------------------------
<S>                                    <C>
      $0 - $999                                       0%
   $1,000 or more                      50% but not to exceed $50,000
</TABLE>

         (B)      If the Participant participates in another plan or plans by
the Employer or any of the members of the controlled group of corporations of
which the Employer is a part which allow(s) loans, the maximum loan limits
reflected in the above table apply in the aggregate to the Plan and any such
other plan or plans less any Matching Contributions made under the Plan.

         (C)      For purposes of this Section, "Total Account Balance" means
the total dollar value, as of the effective date of the loan, of the
Participant's Accounts.

         (D)      [intentionally omitted]

         (E)      All loans shall be subject to the approval of the Committee
which shall investigate each application for a loan.

         (F)      In addition to such rules and regulations as the Committee may
adopt, all loans shall comply with the following terms and conditions:

                  (1)      An application for a loan by a Participant shall be
                           made in writing to the Committee whose action thereon
                           shall be final.

                  (2)      The period of repayment for any loan shall be arrived
                           at by mutual agreement between the Committee and the
                           borrower, but such period in no event shall exceed
                           five (5) years, except that such five (5) year
                           repayment rule shall not apply to any loan used for
                           the purpose of acquiring or constructing a home which
                           is the Participant's principal residence. Loan
                           payments during a period of qualified military
                           service will be suspended under the Plan as permitted
                           under Section 414(u)(4) of the Code.

                  (3)      Each loan shall be made against collateral being the
                           assignment of not more than fifty (50) percent of the
                           borrower's entire right, title and interest

                                     - 41 -
<PAGE>

                           in and to the Trust Fund, supported by the borrower's
                           collateral promissory note for the amount of the
                           loan, including interest, payable to the order of the
                           Trustee.

                  (4)      Each loan shall bear interest at a rate to be fixed
                           by the Committee and, in determining the interest
                           rate, the Committee shall take into consideration
                           interest rates currently being charged. The Committee
                           shall not discriminate among Participants in the
                           matter of interest rates; but loans granted at
                           different times may bear different interest rates if,
                           in the opinion of the Committee, the difference in
                           rates is justified by a change in general economic
                           conditions. Each loan shall bear interest at an
                           effective annual percentage rate which is not less
                           than the prime rate currently being charged to the
                           Trustee in its banking business, provided that such
                           rate does not violate any applicable usury laws.

                  (5)      No distribution, other than a hardship withdrawal
                           which is approved by the Committee pursuant to
                           Section 6.5(D) shall be made to any Participant or to
                           a Beneficiary of any such Participant unless and
                           until all unpaid loans, including accrued interest
                           thereon, have been repaid.

                  (6)      Notwithstanding anything contained herein to the
                           contrary, a Participant may not obtain a loan unless
                           it is consented to by his or her spouse in a signed
                           writing which is notarized or witnessed by a Plan
                           representative or if the Committee determines in its
                           sole discretion that such consent is not obtainable
                           for good cause shown, consistent with applicable law.

6.11     ELIGIBLE ROLLOVER DISTRIBUTIONS.

         (A)      Notwithstanding any provision of the Plan to the contrary that
would otherwise limit a distributee's election under this Section, a distributee
may elect, at the time and in the manner prescribed by the Committee, to have
any portion of an "eligible rollover distribution" paid directly to an "eligible
retirement plan" specified by the "distributee" in the "direct rollover." In the
event that any portion of the Participant's eligible rollover distribution
consists of both (i) amounts that would have been includible in his or her gross
income but for the rollover (taxable amounts), and (ii) amounts that would not
have been includible even if they had not been rolled over (non-taxable
amounts), the amount transferred as an eligible rollover distribution shall be
treated as consisting first of the portion of the distribution that is
includible in income (as determined without the rollover exclusion.

         (B)      For purposes of this Section, the following definitions shall
apply:

                  (1)      "Eligible rollover distribution" - An eligible
                           rollover distribution is any distribution of all or
                           any portion of the balance to the credit of the
                           distributee, except that an eligible rollover
                           distribution does not include: (i) any distribution
                           that is one of a series of substantially equal
                           periodic payments (not less frequently than annually)
                           made for the life (or life expectancy) of the
                           distributee or the joint lives (or joint life
                           expectancies) of the distributee and the
                           distributee's designated Beneficiary, or for a

                                     - 42 -
<PAGE>

                           specified period of ten years or more; (ii) any
                           distribution to the extent such distribution is
                           required under Section 401(a)(9) of the Code; and
                           (iii) the portion of any distribution that is not
                           includible in gross income (determined without regard
                           to the exclusion of net unrealized appreciation with
                           respect to Employer securities). Notwithstanding the
                           foregoing, (a) for distributions made on or after
                           January 1, 1999, no portion of a hardship
                           distribution (as described in Code Section
                           401(k)(2)(B)(i)(IV)) shall be an eligible rollover
                           distribution, and (b) for distributions made after
                           December 31, 2001, (1) no portion of any distribution
                           which is made upon hardship of an Employee shall be
                           an eligible rollover distribution, and (2) a portion
                           of a distribution shall not fail to be an eligible
                           rollover distribution merely because the portion
                           consists of after-tax employee contributions which
                           are not includible in gross income, provided that
                           such portion may be transferred only to an individual
                           retirement account or annuity described in Section
                           408(a) or (b) of the Code, or to a qualified defined
                           contribution plan described in Section 401(a) or
                           403(a) of the Code that agrees to separately account
                           for amounts so transferred, including separately
                           accounting for the portion of such distribution which
                           is includible in gross income and the portion of such
                           distribution which is not so includible.

                  (2)      "Eligible retirement plan" - (i) An "eligible
                           retirement plan" is an individual retirement account
                           described in Section 408(a) of the Code, an
                           individual retirement annuity described in Section
                           408(b) of the Code, an annuity plan described in
                           Section 403(a) of the Code, or a qualified trust
                           described in Section 401(a) of the Code, that accepts
                           the distributee's eligible rollover distribution.
                           However, in the case of an eligible rollover
                           distribution to the surviving spouse on or prior to
                           December 31, 2001, an "eligible retirement plan" is
                           an individual retirement account or an individual
                           retirement annuity only.

                           (ii)     Effective for distributions made after
                           December 31, 2001, an "eligible retirement plan"
                           shall mean (1) an individual retirement account
                           described in Section 408(a) of the Code or an
                           individual retirement annuity described in Section
                           408(b) of the Code, or (2) an annuity plan described
                           in Section 403(a) of the Code, an annuity contract
                           described in Section 403(b) of the Code, an eligible
                           plan under Section 457(b) of the Code which is
                           maintained by a state, political subdivision of a
                           state, or any agency or instrumentality of a state or
                           political subdivision of a state or a qualified trust
                           described in Section 401(a) of the Code that accepts
                           the distributee's eligible rollover distribution
                           which, in the case of any plan described in this
                           clause (2), (x) agrees to separately account for
                           amounts transferred into such plan from this Plan
                           including separately accounting for the portion of
                           such distribution which is includible in gross income
                           and the portion of such distribution which is not so
                           includible, and (y) is a defined contribution plan.
                           This definition of eligible retirement plan shall
                           also apply in the case of a distribution made after
                           December 31,

                                     - 43 -
<PAGE>

                           2001 to a surviving spouse, or to a spouse or former
                           spouse who is the alternate payee under a "qualified
                           domestic relation order" (as defined under Code
                           Section 414(p) and ERISA Section 206(d)).

                  (3)      "Distributee" - A distributee includes an Employee or
                           former Employee. In addition, the Employee's or
                           former Employee's surviving spouse and the Employee's
                           or former Employee's spouse or former spouse who is
                           the alternate payee under a qualified domestic
                           relations order, as defined in Section 414(p) of the
                           Code, are distributees with regard to the interest of
                           the spouse or former spouse.

                  (4)      "Direct rollover" - A direct rollover is a payment by
                           the Plan to the eligible retirement plan specified by
                           the distributee.

                                     - 44 -
<PAGE>

                  ARTICLE VII. - INVESTMENT OPTIONS, TRUST FUND

7.1      PARTICIPANT DIRECTED INDIVIDUAL ACCOUNT PLAN.

         This Plan is intended to constitute a participant directed individual
account plan under Section 404(c) of ERISA. As such, Participants shall be
provided the opportunity to exercise control over the investment of a portion of
their Accounts under the Plan and to choose from a broad range of investment
alternatives.

7.2      EMPLOYEE SELECTED INVESTMENT OPTIONS, INVESTMENT FUNDS.

         (A)      Each Participant shall designate, in the manner established by
the Committee, the Investment Fund(s) established pursuant to paragraph (C)
below, in which contributions made pursuant to Sections 4.1(A), 4.3, 4.5, and
4.6 hereof, are to be invested. Subject to Section 7.2(B) below,

                  (1)      a Participant's Employer Contribution Account balance
                           (consisting of contributions made pursuant to
                           Sections 4.1(B) and (C) hereof) that is allocable to
                           participation in the Plan prior to May 15, 2001 shall
                           be invested only in Employer Stock, and the
                           Participant shall have no choice of Investment Funds
                           with respect to such balance,

                  (2)      effective May 15, 2001, any Participant may
                           reallocate up to seventy-five (75) percent of his
                           Employer Contribution Account balance that is
                           allocable to participation in the Plan through
                           January 31, 2002 to any or all of six (6) Investment
                           Funds designated by the Retirement Committee,

                  (3)      effective February 1, 2002, twenty-five (25) percent
                           of the Matching Contributions that are allocable to
                           participation in the Plan on and after such date and
                           credited to the Participant's Employer Contribution
                           Account shall be invested in Employer Stock (and the
                           Participant shall have no choice of Investment Funds
                           with respect to such contributions), and the
                           remaining seventy-five (75) percent of such Matching
                           Contributions shall be invested in an Investment Fund
                           designated by the Retirement Committee (which
                           contributions may be reallocated at any time by the
                           Participant to any or all of six (6) other Investment
                           Funds designated by the Retirement Committee),

                                     - 45 -
<PAGE>

                  (4)      effective June 30, 2002, one hundred (100) percent of
                           the Matching Contributions that are allocable to
                           participation in the Plan on and after such date and
                           credited to the Participant's Employer Contribution
                           Account shall be invested in and among the Investment
                           Funds previously elected by the Participant with
                           respect to the seventy-five (75) percent portion
                           described in subparagraph (iii) above, and if none so
                           elected, an Investment Fund designated by the
                           Retirement Committee (which contributions may be
                           reallocated at any time by the Participant to any or
                           all of the Investment Funds available with respect to
                           his or her contributions made pursuant to Sections
                           4.1(A), 4.3, 4.5 and 4.6 of the Plan), and

                  (5)      effective June 30, 2002, a Participant may reallocate
                           any Matching Contributions allocable to participation
                           in the Plan prior to such date and credited to the
                           Participant's Employer Contribution Account to any or
                           all of the Investments Funds available with respect
                           to the Participant's contributions made pursuant to
                           Sections 4.1(A), 4.3, 4.5 and 4.6 of the Plan.

         (B)      Effective as of and following June 1, 2000, a Participant who
is at least age fifty-four (54) and who has at least ten (10) years of
continuous service with an Employer may reallocate Employer Stock that is
allocable to participation in the Plan on and after such date and prior to
February 1, 2002 and credited to such Participant's Employer Contribution
Account to any other Investment Funds available under the Plan. Effective
February 1, 2002, a Participant who is at least age fifty (50) may reallocate
Employer Stock that is allocable to participation in the Plan on and after such
date and credited to such Participant's Employer Contribution Account to any
other Investment Funds available under the Plan, regardless of the number of
years of continuous service the Participant has with an Employer. Effective June
30, 2002, a Participant who is at least age fifty (50) may reallocate Employer
Stock that is attributable to Discretionary Contributions made pursuant to
Section 4.1(C) hereof and allocable to participation in the Plan on and after
such date and credited to such Participant's Employer Contribution Account to
any or all of the Investment Funds available with respect to his or her
contributions made pursuant to Sections 4.1(A), 4.3, 4.5 and 4.6 of the Plan.

         (C)      The Committee shall direct the Trustee to establish three (3)
or more Investment Funds. The Committee also may direct the Trustee to change
the number and type of Investment Funds made available under the Plan from time
to time, without the necessity of Board action or Plan amendment.

7.3      INVESTMENT ELECTIONS.

         (A)      Each Participant may, except as hereinafter provided, elect
with respect to future contributions to his Employee Contribution Account,
Salary Reduction Contribution Account and Vested Rollover Contribution Account
to have the aggregate contributions to such Account(s) be invested in a single
Investment Fund, or he may direct that a percentage of such Accounts be invested
in such Investment Funds as he shall desire, as follows: prior to June 1, 2000,
ten (10) percent increments (or multiples of ten (10) percent increments), and
on and after June 1, 2000, one (1) percent increments (or multiples of one (1)
percent increments).

                                     - 46 -
<PAGE>

         (B)      Each Participant may change his investment directions in
accordance with the provisions of Section 7.3(A) to provide for the investment
of future contributions among the various Investment Funds in percentage
increments, as he shall desire, as follows: prior to June 1, 2000, ten (10)
percent increments (or multiples of ten (10) percent increments), and on and
after June 1, 2000, one (1) percent increments (or multiples of one (1) percent
increments). Any such change may be made in accordance with procedures
established by the Committee.

7.4      INVESTMENT TRANSFERS.

         Generally, a Participant may transfer amounts between the Investment
Funds in accordance with procedures established by the Committee. The transfers
shall be made in accordance with Section 7.3 in percentage increments, as
follows: prior to June 1, 2000, ten (10) percent increments (or multiples of ten
(10) percent increments), and on and after June 1, 2000, one (1) percent
increments (or multiples of one (1) percent increments). The Committee shall
direct the Trustee to transfer monies or other property from the appropriate
Investment Funds to the other Investment Funds as may be necessary to carry out
such aggregate transfer transactions after such Committee has caused the
necessary entries to be made in the Participant's Accounts and in the Investment
Funds and has reconciled offsetting transfer elections, in accordance with
uniform rules therefor established by such Committee.

7.5      TENDER OFFERS.

         As soon as practicable after the commencement of a tender offer or
exchange offer ("Offer") for shares of Employer Stock, the Committee shall use
its reasonable best efforts to cause each Participant (who has an Account
allocated in whole or in part to Employer Stock) to be advised in writing of the
terms of the Offer, together with forms by which the Participant may instruct
the Committee to instruct the Trustee, or revoke such instruction, to tender
shares credited to his or her Account, to the extent permitted under the terms
of any such Offer. The Trustee shall follow the directions of the Committee but
the Trustee shall not tender shares for which no instructions are received. In
advising Participants of the terms of the Offer, the Committee may include
statements from the management of the Company setting forth its position with
respect to the Offer. The giving of instructions to the Trustee to tender shares
of Employer Stock and the tender thereof shall not be deemed a withdrawal or
suspension from the Plan or a forfeiture of any portion of the Participant's
interest in the Plan. The number of shares of Employer Stock to which a
Participant may provide instructions shall be the total number of shares
credited to his or her Account(s), whether or not the shares are vested, as of
the close of business on the day preceding the date on which the tender offer
commences or such earlier date which shall be designated by the Committee, which
the Committee, in its sole discretion, deems appropriate for reasons of
administrative convenience. Any securities received by the Trustee as a result
of a tender of shares hereunder shall be held, and any cash so received shall be
invested in short-term investments, for the account of each Participant with
respect to whom shares of Employer Stock were tendered pending any reinvestment
by the Trustee, as it may deem appropriate, consistent with the purposes of the
Plan.

7.6      VOTING OF STOCK.

         (A)      Each Participant (whose Account has allocated to it any shares
of Employer Stock) shall be entitled to instruct the Committee to instruct the
Trustee how to vote, at each meeting of shareholders, such shares of Employer
Stock, and to revoke any such instruction, to

                                     - 47 -
<PAGE>

the extent permitted under the terms of such vote. Such instruction or
revocation thereof shall apply to the total number of shares of Employer Stock
credited to the Participant's Accounts, whether or not vested, as of the date
coinciding with or immediately preceding the record date for the shareholders'
meeting or such earlier date which shall be designated by the Committee which
the Committee, in its sole discretion, deems appropriate for reasons of
administrative convenience. All the shares of Employer Stock for which no
instructions are received shall be voted by the Trustee in a uniform manner as a
single block in accordance with the instructions received with respect to a
majority of such shares for which instruction is received, unless the Trustee,
in exercising its discretion as a fiduciary with respect to the voting of such
shares, determines that the interest of Participants and Beneficiaries requires
it to vote in a different way. The Committee shall use its reasonable best
efforts to cause each Participant (whose Account has allocated to it any shares
of Employer Stock) to receive such notices and informational statements as are
furnished to the shareholders in respect of the exercise of voting rights,
together with forms by which the Participant may instruct the Committee to
instruct the Trustee, or revoke such instruction, with respect to the vote of
shares of Employer Stock credited to his or her Account.

         (B)      Subsequent to a Participant's investment in any Investment
Fund other than one comprised of Employer Stock, all proxies relating to the
exercise of voting rights incidental to the ownership of any asset which is held
in such Investment Fund shall be passed through, either directly or indirectly,
to the Participant. Each Participant who so receives any proxies shall be
entitled to instruct the Committee to instruct the Trustee in writing how to
vote such proxies and to revoke any such instruction, to the extent permitted
under the terms of the proxies. Neither the Committee nor the Trustee shall have
authority to vote proxies for which no instructions have been received.

7.7      [INTENTIONALLY OMITTED]

7.8      [INTENTIONALLY OMITTED]

7.9      EXERCISE OF CONTROL.

         (A)      The Committee shall provide each Participant with the
opportunity to obtain sufficient information to make informed decisions with
regard to investment alternatives available under the Plan, and incidents of
ownership appurtenant to such investments. The Committee shall promulgate and
distribute to Participants an explanation that the Plan is intended to comply
with Section 404(c) of ERISA and any relief from fiduciary liability resulting
therefrom, a description of investment alternatives available under the Plan, an
explanation of the circumstances under which Participants may give investment
instructions and any limitations thereon, along with all other information and
explanations required under Department of Labor Regulation Section
2550.404c-1(b)(2)(B)(1). In addition, the Committee shall provide information to
Participants upon request as required by Department of Labor Regulation Section
2550.404c-1(b)(2)(B)(2). Neither the Employer, Committee, Trustee, nor any other
individual associated with the Plan or the Employer shall give investment advice
to Participants with respect to Plan investments. The providing of information
pursuant to this Article VII shall not in any way be deemed to be the providing
of investment advice, and shall in no way obligate the Employer, Committee,
Trustee or any other individual associated with the Plan or the Employer to
provide any investment advice.

                                     - 48 -
<PAGE>

         (B)      The Committee, pursuant to uniform and nondiscriminatory
rules, may charge each Participant's Accounts for the reasonable expenses of
carrying out investment instructions directly related to such Accounts, provided
that each Participant is periodically (not less than quarterly) informed of such
actual expenses incurred with respect to his or her respective Accounts.

         (C)      The Committee shall decline to implement any Participant
instructions if the instruction is inconsistent with any provisions of the Plan
or Trust Agreement or any investment direction policies adopted by the Committee
from time to time. The Committee also may decline to implement any Participant
instructions to the extent permitted by Department of Labor regulations issued
under Section 404(c) of ERISA. The Committee, pursuant to uniform and
nondiscriminatory rules, may promulgate additional limitations on investment
instruction consistent with Section 404(c) of ERISA from time to time.

         (D)      A Participant shall be given the opportunity to make
independent investment directions. No Plan fiduciary shall subject any
Participant to improper influence with respect to any investment decisions, nor
shall any Plan fiduciary conceal any non-public facts regarding a Participant's
Plan investment unless disclosure is prohibited by law. Plan fiduciaries shall
remain completely neutral in all regards with respect to Participant investment
direction. A Plan fiduciary may not accept investment instructions from a
Participant known to be legally incompetent, and any transactions with a
fiduciary, otherwise permitted under this Article VII and the uniform and
nondiscriminatory rules regarding investment direction promulgated by the
Committee, shall be fair and reasonable to the Participant in accordance with
Department of Labor Regulation Section 2550.404c-1(c)(3).

7.10     ADJUSTMENT OF ACCOUNTS.

         Adjustments pursuant to Section 5.2 shall be made on a separate fund
basis. Income attributable to each Investment Fund shall be allocable strictly
to the Investment Fund and Accounts invested therein. Each Investment Fund shall
be invested in accordance with the provisions of the Plan and the Trust
Agreement.

7.11     LIMITATION OF LIABILITY AND RESPONSIBILITY.

         The Trustee, the Committee and the Employer shall not be liable for
acting in accordance with the directions of a Participant pursuant to this
Article VII or for failing to act in the absence of any such direction. The
Trustee, the Committee and the Employer shall not be responsible for any loss
resulting from any direction made by a Participant and shall have no duty to
review any direction made by a Participant. The Trustee shall have no obligation
to consult with any Participant regarding the propriety or advisability of any
selection made by the Participant.

7.12     FORMER PARTICIPANTS AND BENEFICIARIES.

         For purposes of this Article VII, the term "Participant" shall be
deemed to include former Participants and the Beneficiaries of any deceased
Participants.

                                     - 49 -
<PAGE>

                   ARTICLE VIII. - ADMINISTRATION OF THE PLAN

8.1      ALLOCATION OF RESPONSIBILITY AMONG FIDUCIARIES FOR PLAN AND TRUST
         ADMINISTRATION.

         The Committee, composed of at least three members, shall be appointed
by the Board of Directors. Each member of the Committee shall serve at the will
of the Board and without compensation. The Committee shall be the "named
fiduciaries" of the Plan within the meaning of Section 402(a) of ERISA. A member
of the Committee shall cease to be a member of such Committee either
automatically upon ceasing to be an officer, director or employee of the Company
or upon resignation delivered in writing to the Board. In the event of such a
vacancy in membership, the remaining members of the Committee shall have full
power to act until such vacancy is filled. The usual and reasonable expenses of
the Committee shall be paid by the Company, to the extent not paid by the Plan.

8.2      APPOINTMENT OF COMMITTEE.

         Except as may be reserved elsewhere in this Plan, the Committee shall
administer the Plan and shall have the sole responsibility for the
administration thereof. In exercising any of its discretionary powers with
respect to the administration of the Plan, the Committee shall act in a uniform
and nondiscriminatory manner and for the exclusive benefit of the Participants,
retired Participants and their Beneficiaries. The Committee shall have all
powers and duties necessary and proper to carry out its responsibilities under
the Plan including, but not by way of limitation,

         (A)      To construe and interpret the Plan and the Trust, resolve any
ambiguities and decide all questions as to eligibility and the determination of
the amount, manner and time of payment of any benefits thereunder.

         (B)      To prescribe procedures to be followed and forms to be used by
Participants or Beneficiaries of the Plan, and to establish such rules and
guidelines as may be necessary or desirable for the proper administration of the
Plan.

         (C)      To prepare and distribute, in such manner as it determines to
be appropriate, all reports, returns and information related to the Plan,
whether as required by law or at the request of Participants, Beneficiaries or
other persons, or otherwise.

         (D)      To receive from the Company and from Participants and
Beneficiaries such information as shall be necessary for the proper
administration of the Plan.

         (E)      To furnish the Company, upon request, such reports with
respect to the administration of the Plan as are reasonable and appropriate.

         (F)      To employ such experts, counsel and agents, and to secure such
accounting, actuarial and other services as it may deem advisable in carrying
out its powers and duties under the Plan.

         (G)      To authorize the payment of Plan benefits due to Participants
and Beneficiaries.

                                     - 50 -
<PAGE>

         (H)      To appoint a subcommittee consisting of at least three
persons, to serve at the pleasure of and subject to the rules of the Committee,
to consider requests for hardship withdrawals and loans under the applicable
provisions of the Plan.

         The Committee shall also have the powers and duties conferred upon it
elsewhere in the Plan. Except as may be otherwise provided in the Plan, the
decision of the Committee as to any dispute or question arising hereunder,
including questions of construction, interpretation and administration, shall be
final and conclusive.

8.3      AUTHORITY OF COMMITTEE.

         The Committee shall have all powers and duties necessary and proper for
the management and investment of the assets of the Plan, including, but not by
way of limitation,

         (A)      To establish a funding policy within the meaning of and
consistent with ERISA Section 402(b).

         (B)      To appoint one or more Trustees, to negotiate and enter into
on behalf of the Plan a trust agreement with any such Trustee, and to terminate
the management of or replace any such Trustee.

         (C)      To appoint one or more investment managers (within the meaning
of Section 3(38) of ERISA) to manage any or all assets of the Plan, to negotiate
and enter into on behalf of the Plan an agreement with any such investment
manager, and to terminate the engagement of or replace any such investment
manager.

         (D)      To provide direction and give instructions to any Trustee or
investment manager on all matters within the Committee's discretion under the
terms of any trust agreement or investment management agreement.

         (E)      To execute or deliver any instrument or make any payment in
behalf of the Plan.

         (F)      To receive, review and keep on file (as it deems convenient or
proper) reports of the financial condition, and of the receipts and
disbursements, of the Trust.

         (G)      To select, monitor and replace the Investment Funds.

8.4      ACTION BY THE COMMITTEE.

         The Committee shall appoint a chairman and a secretary from its
members. Action by the Committee shall be taken by a vote of the majority of its
members present at a meeting at which a quorum is present or signed by a
majority of its members in writing without a meeting. A majority of the members
of the Committee present at a meeting duly called shall constitute a quorum. The
Committee shall make and maintain minutes of each meeting and shall maintain
other appropriate books and records. The Committee may establish such rules as
it deems necessary or desirable for its own operations.

                                     - 51 -
<PAGE>

8.5      EMPLOYMENT OF THIRD PARTIES.

         The Committee may employ one or more persons to render advice or
services with regard to any responsibility it has under the Plan or Trust. The
compensation of such person or persons shall be fixed by the Committee.

8.6      ALLOCATION AND DELEGATION.

         Except as limited in this Section 8.6 of this Article VIII the
Committee may allocate among its members, or delegate to any person who is not a
member, any responsibility which it has hereunder. No responsibility with
respect to the management or control of the assets of the Trust may be so
delegated or allocated; provided, however, that the Committee may appoint one or
more investment managers in respect of the assets of the Trust. Any delegation
or allocation of responsibility pursuant to this Section 8.6 shall be evidenced
by the minutes of the meeting at which such delegation or allocation was
approved or, if no such meeting was held, by the writing under which such action
was taken. Any action of a person to whom such responsibility has been allocated
or delegated shall have the same force and effect for all purposes hereunder as
if taken by the Committee. Any allocation or delegation to any person may be
revoked upon notice delivered to such person. The Committee shall monitor any
person to which it allocates or delegates any responsibility pursuant to this
Section 8.6 and shall require such person periodically to report regarding the
discharge of such responsibility.

8.7      REPORTS.

         The Committee shall report to the Board of Directors not less than
annually regarding the administration of the Plan, including, but not limited
to, the management of the assets of the Plan.

8.8      CLAIMS PROCEDURE.

         The Committee shall make all determinations as to the right of any
person to a benefit. Benefits will begin upon receipt of a claim in the form and
manner prescribed by the Committee. If an Employee, Participant, Beneficiary, or
any other person is dissatisfied with the determination of his benefits,
eligibility, participation, or any other right or interest under this Plan, such
person may file a statement setting forth the basis of the claim with the
Committee in a manner prescribed by the Committee. In connection with the
determination of a claim, or in connection with review of a denied claim, the
claimant may examine this Plan and any other pertinent documents generally
available to Participants relating to the claim and may submit comments in
writing.

         A notice of the disposition of any such claim shall be furnished to the
claimant within thirty (30) days after the claim is filed with the Committee,
provided that the Committee or its designee may have an additional period to
decide the claim if it advises the claimant in writing of the need for an
extension and the date on which it expects to decide the claim. The notice of
the disposition of a claim shall refer, if appropriate, to pertinent provisions
of this Plan, shall set forth in writing the reasons for denial of the claim if
the claim is denied (including references to any pertinent provisions of this
Plan), and where appropriate shall explain how the claimant can perfect the
claim.

         If the claim is denied, in whole or in part, the claimant shall also be
notified in writing that a review procedure is available. Thereafter, within
ninety (90) days after receiving the notice

                                     - 52 -
<PAGE>

of the Committee's or its designee's disposition of the claim, the claimant may
request in writing, and shall be entitled to, a review meeting with the
Committee or its designee to present reasons why the claim should be allowed.
The claimant shall be entitled to be represented by counsel at the review
meeting. The claimant also may submit a statement of his claim and the reasons
for granting the claim. Such statement may be submitted in addition to, or in
lieu of, the review meeting with the Committee or its designee. The Committee or
its designee shall have the right to request of, and receive from, a claimant
such additional information, documents, or other evidence as the Committee or
its designee may reasonable require. If the claimant does not request a review
meeting within ninety (90) days after receiving notice of the Committee's or its
designee's disposition of the claim, the claimant shall be deemed to have
accepted the Committee's or its designee's disposition, unless the claimant
shall have been physically or mentally incapacitated so as to be unable to
request review within the ninety (90) day period.

         A decision on review shall be rendered in writing by the Committee or
its designee ordinarily not later than sixty (60) days after review, and a copy
of such decision shall be delivered to the claimant. If special circumstances
require an extension of the ordinary period, the Committee or its designee shall
so notify the claimant. In any event, if a claim is not determined within one
hundred twenty (120) days after submission for review, it shall be deemed to be
denied.

         To the extent permitted by law, a decision on review by the Committee
or its designee shall be binding and conclusive upon all persons whomsoever. To
the extent permitted by law, completion of the claims procedures described in
this Section shall be a mandatory precondition that must be complied with prior
to commencing of a legal or equitable action in connection with the Plan by a
person claiming rights under the Plan or by another person claiming rights
through such a person. The Committee or its designee, in its sole discretion,
may waive those procedures as a mandatory precondition to such an action.

         Notwithstanding anything to the contrary contained herein, with respect
to any claim for benefits under the Plan filed on or after January 1, 2002, the
Company shall establish separate claims procedures as part of the Plan's summary
plan description which shall comply with Department of Labor Regulation Section
2560.503-1.

8.9      APPLICATION AND FORMS FOR BENEFITS; OTHER PLAN COMMUNICATIONS.

         The Committee may require a Participant or Beneficiary to complete and
file with the Committee an application for a benefit on the forms approved by
the Committee, as a condition precedent to payment of benefits. The Committee
may rely upon all such information so furnished it, including the Participant's
or Beneficiary's current mailing address. Other Plan communications shall be
made in such forms and manners as prescribed by the Committee from time to time.

8.10     FACILITY OF PAYMENT.

         Whenever, in the Committee's opinion, a person entitled to receive any
payment of a benefit or installment thereof hereunder is under a Disability or
is incapacitated in any way so as to be unable to manage his or her financial
affairs, the Committee may direct the Trustee to make payments to such person or
to his or her legal representative or to a relative or friend of such person for
his or her benefit, or the Committee may direct the Trustee to apply the payment
for

                                     - 53 -

<PAGE>

the benefit of such person in such manner as the Committee considers advisable.
Any payment of a benefit or installment thereof in accordance with the
provisions of this Section shall be a complete discharge of any liability for
the making of such payment under the provisions of the Plan.

8.11     INDEMNIFICATION OF THE COMMITTEE.

         The Committee and the individual members thereof shall be indemnified
by the Employer and not from the Trust Fund against any and all liability
arising by reason of any act or failure to act made in good faith pursuant to
the provisions of the Plan, including expenses reasonably incurred in the
defense of any claim relating thereto.

                                     - 54 -
<PAGE>

                           ARTICLE IX. - MISCELLANEOUS

9.1      NONGUARANTEE OF EMPLOYMENT.

         Nothing contained in this Plan shall be construed as a contract of
employment between the Employer and any Employee, or as a right of any Employee
to be continued in the employment of the Employer, or as a limitation of the
right of the Employer to discharge any of its Employees, with or without cause.

9.2      RIGHTS TO TRUST ASSETS.

         No Employee, Participant, or Beneficiary shall have any right to, or
interest in, any assets of the Trust Fund at any time, including upon
termination of his or her employment or otherwise, except as provided from time
to time under the Plan, and then only to the extent of the benefits properly
payable under the Plan to a Participant or Beneficiary out of the assets of the
Trust Fund. All payment of benefits as provided for in the Plan shall be made
solely out of the assets of the Trust Fund to the extent sufficient, and none of
the Fiduciaries or Employers shall be liable therefor in any manner.

9.3      NON-ALIENATION.

         (A)      Except as permitted by the Plan in accordance with Code
Section 401(a)(13) and ERISA Section 206(d), (i) no benefit payable at any time
under the Plan shall be subject to the debts or liabilities of a Participant or
his or her Beneficiary, and any attempt to alienate, sell, transfer, assign,
pledge, or otherwise encumber any such benefit, whether presently or thereafter
payable, shall be void; and (ii) no benefit under the Plan shall be subject in
any manner to attachment, garnishment, or encumbrance of any kind.

         (B)      In accordance with procedures consistent with Code Section
414(p) that are established by the Committee (including procedures requiring
prompt notification of the affected Participant and each potential alternate
payee of the Plan's receipt of a domestic relations order and its procedures for
determining the qualified status of such order), judicial orders for purposes of
enforcing family support obligations or pertaining to domestic relations (which
orders do not alter the amount, timing or form of benefit other than to have it
commence at the earliest permissible date) shall be honored by the Plan if the
Committee determines that they constitute qualified domestic relations orders
within the meaning of Code Section 414(p) and ERISA Section 206(d).

9.4      NONFORFEITABILITY OF BENEFITS.

         Subject only to the specific provisions of the Plan, nothing shall be
deemed to divest a Participant of his or her right to the nonforfeitable benefit
to which he or she becomes entitled in accordance with the provisions of the
Plan.

9.5      QUALIFIED MILITARY SERVICE.

         Notwithstanding any provision of this Plan to the contrary,
contributions, benefits and service credit with respect to qualified military
service will be provided in accordance with Code Section 414(u).

                                     - 55 -
<PAGE>

                 ARTICLE X. - AMENDMENTS AND ACTION BY EMPLOYER

10.1     AMENDMENTS.

         The Company reserves the right to amend the Plan at any time and from
time to time by action of its board of directors or the authorized agent of such
board. In addition, the Committee may make amendments, retroactively if
necessary or appropriate, to permit the Plan and Trust Fund to meet the
requirements for qualification and tax exemption under the Code or to satisfy
the requirements of ERISA or any other applicable law, as now in effect or
hereafter amended or superseded, and the regulations thereunder. The Committee
may also make minor amendments to clarify the Plan, comply with tax
qualification or other legal requirements, facilitate its administration, or
implement appropriate changes in the Plan design, provided that such amendments
do not significantly increase the cost of the Plan or adversely affect its
qualification. Notwithstanding the foregoing, (a) no amendment shall cause any
part of the Trust Fund to be used (prior to the satisfaction of all Plan
liabilities) for, or diverted to, purposes other than for the exclusive benefit
of Participants and their Beneficiaries, and (b) to the extent provided in Code
Section 411(d)(6) and related regulations, no amendment may eliminate or reduce
any protected benefits that have already accrued.

10.2     ACTION BY THE COMPANY.

         Any action by the Company under the Plan may be by resolution of its
Board of Directors, or by any person or persons duly authorized by resolution of
said Board to take such action.

                                     - 56 -
<PAGE>

      ARTICLE XI. - SUCCESSOR EMPLOYER AND MERGER OR CONSOLIDATION OF PLANS

11.1     SUCCESSOR EMPLOYER.

         In the event of the dissolution, merger, consolidation or
reorganization of an Employer, provision may be made in the sole discretion of
the Company by which the Plan and Trust will be continued by the successor; and,
in that event, such successor shall be substituted for the Employer under the
Plan. The substitution of the successor shall constitute an assumption of Plan
liability by the successor and the successor shall have all of the powers,
duties and responsibilities of the Employer under the Plan.

11.2     CONDITIONS APPLICABLE TO MERGERS OR CONSOLIDATIONS OF PLANS.

         In the event of any merger or consolidation of the Plan with, or
transfer in whole or in part of the assets and liabilities of the Trust Fund to
another trust fund held under any other plan of deferred compensation maintained
or to be established for the benefit of all or some of the Participants of the
Plan, the assets of the Trust Fund applicable to such Participants shall be
merged or consolidated with or transferred to the other trust fund only if:

         (A)      Each Participant would (if either this Plan or the other plan
then terminated) receive a benefit immediately after the merger, consolidation
or transfer which is equal or greater than the benefit he would have been
entitled to receive immediately before the merger, consolidation or transfer (if
this Plan had then been terminated); and the determination of such benefits
shall be made in the manner and at the time prescribed in regulations issued
under ERISA;

         (B)      Resolutions of the Boards of Directors of the Employer under
the Plan, or of any new or successor Employer of the affected Participants,
shall authorize such transfer of assets; and, in the case of the new or
successor Employer of the affected Participants, its resolutions shall include
an assumption of liabilities with respect to such Participants' inclusion in the
new Employer's plan; and

         (C)      Such other plan and trust are qualified under Sections 401(a)
and 501(a) of the Code.

         In addition to the foregoing, any merger, consolidation, or transfer of
assets described in this Section shall comply with applicable requirements of
Code Section 411(d)(6) to preserve optional forms of benefits and other valuable
rights that are legally protected.

                                     - 57 -
<PAGE>

                         ARTICLE XII. - PLAN TERMINATION

12.1     RIGHT TO TERMINATE.

         In accordance with the procedures set forth in this Article, the
Company may terminate the Plan at any time in its entirety or with respect to
any Employee or group of Employees or Participants. The Board of Directors of an
Employer may terminate the Plan at any time with respect to its Employees or any
group of its Employees or Participants, provided such Employer has made all
contributions due to the Plan to the date of such termination.

12.2     PARTIAL TERMINATION.

         Upon termination of the Plan by the Company or by the Employer with
respect to such Employer or a group of Employees or Participants of such
Employer, the Trustee shall, in accordance with the directions of the Committee,
allocate and segregate for the benefit of the Participants with respect to which
the Plan is being terminated the proportionate interest of such Participants in
the Trust Fund. The funds so allocated and segregated shall be used by the
Trustee to pay benefits to or on behalf of Participants in accordance with
Section 12.3.

12.3     LIQUIDATION OF THE TRUST FUND.

         (A)      Upon termination or partial termination of the Plan, or upon
complete discontinuance of contributions under the Plan, the accounts of all
Participants affected thereby shall become fully vested, and the Committee may
direct the Trustee: (a) to continue to administer the Trust Fund and pay Account
balances in accordance with Article VI to Participants affected by the
termination upon their Termination of Employment or to their Beneficiaries upon
such a Participant's death, until the Trust Fund has been liquidated; or (b) to
distribute the assets remaining in the Trust Fund, after payment of any expenses
properly chargeable thereto, to Participants and Beneficiaries in proportion to
their respective Account balances or rights thereto.

         (B)      In case the Committee directs liquidation of the Trust Fund
pursuant to (a) above, the expenses of administering the Plan and Trust, if not
paid by the Employer, shall be paid from the Trust Fund.

         (C)      The Trustee may delay distribution of assets under this
Section 12.3 pending receipt of written determination by the Internal Revenue
Service that the Plan is qualified upon termination.

                                     - 58 -
<PAGE>

                        ARTICLE XIII. - ADOPTION OF PLAN

13.1     ADOPTION AGREEMENT.

         (A)      Subject to the approval of the Company and consistent with the
provisions of ERISA and other applicable law, an Affiliate may adopt the Plan
for its Eligible Employees by entering into an Adoption Agreement in the form
and substance prescribed by the Committee. To the extent approved by the
Committee, each Affiliate may:

                  (1)      Modify the definition of Eligible Employee set forth
                           in Section 2.1(X) hereof, with respect to its
                           Employees; and

                  (2)      Modify the definition of Annual Compensation set
                           forth in Section 2.1(H) hereof, with respect of its
                           Employees.

Any such modification shall be reflected in the Adoption Agreement and may be
amended from time to time by a written supplement to the Adoption Agreement with
the approval of the Committee. Each Affiliate may determine the level of
Employer contributions to be made by the Affiliate to the Employer Contribution
Accounts of its Eligible Employees in each Plan Year.

         (B)      The Committee may prospectively require that all provisions of
the Plan be uniformly applied to all Affiliates, as set forth in the Plan,
notwithstanding any modification provisions in an Adoption Agreement. The
Company may prospectively revoke or modify any Affiliate's participation in the
Plan at any time and for any or no reason, without regard to the terms of any
Adoption Agreement, or terminate the Plan with respect to such Affiliate's
Employees.

         (C)      By execution of an Adoption Agreement (each of which by this
reference shall become a part of the Plan), the Affiliate agrees to be bound by
all the terms and conditions of the Plan, and delegates all authority to amend
or terminate the Plan, and to appoint and remove the Committee and Trustee, to
the Company.

         IN WITNESS WHEREOF, the Company has caused this amended and restated
Plan to be executed by its duly authorized representative effective as of
January 1, 1997.

                                 THE DIAL CORPORATION

                                 By:  /s/ Bernhard J. Welle
                                      ------------------------------------------

                                 Its: Executive Vice President - Shared Services

                                     - 59 -
<PAGE>

                                                                      APPENDIX A

                      SPECIAL PAYMENT PROVISIONS APPLICABLE
                            TO GRANDFATHERED ACCOUNTS

In connection with the Plan Merger, the provisions of this Appendix A shall
apply to the payment of Grandfathered Accounts, notwithstanding any provisions
elsewhere in the Plan to the contrary; provided, however, that, pursuant to
Treasury Regulation Section 1.411(d)-4, Q&A-2(e), the distribution forms
described in Paragraphs (A)(ii), (G) and (H) of this Appendix A shall be
eliminated. The preceding proviso shall not apply to a distribution with an
annuity starting date that is earlier than the earlier of (1) the 90th day after
the date the Participant has been furnished a summary that reflects the
amendment and satisfies the requirements of 29 CFR 2520.104b-3 (relating to a
summary of material modifications) for plans; and (2) December 1, 2003.

         (A)      (i)      Subject to Section (G), payment of a Participant's
         Grandfathered Account shall be made as provided in this Appendix A.

                  (ii)     The Committee shall direct the Trustee to distribute
         the net credit balances in the Participant's Grandfathered Account to
         or for the benefit of the Participant, or in the event of his death, to
         or for the benefit of his Beneficiary, in any one or a combination of
         the following methods as selected by the Participant:

                           (1)      In cash as a single payment; or

                           (2)      In cash in a series of substantially equal
                                    annual or more frequent installments over a
                                    period not to exceed the life expectancy of
                                    a Participant or, if married, the joint life
                                    expectancy of a Participant and his or her
                                    spouse.

         (B)      Distributions of a Participant's Grandfathered Account will be
made or commenced (unless administratively unfeasible) no later than the
sixtieth (60th) day next following the close of the Plan Year during which the
Participant's termination date occurs; provided, however, that, subject to
Section 6.3(C) regarding Involuntary Cash-Outs as defined therein, if the
Participant fails to consent to an immediate distribution, failure to so consent
shall be construed as an election to defer distribution until the later of (x)
the Participant's "Normal Retirement Date" (as defined below) (subject to
earlier distribution, however, as required by applicable law) and (y) the date
on which the Participant attains age sixty-two (62). Notwithstanding the
preceding sentence, a Participant who retires from the employ of an Employer on
or after the date on which he has attained age fifty-five (55) and has completed
ten (10) years of service shall be eligible to elect to receive payment of his
Grandfathered Account at any time after his termination date (subject to earlier
distribution, however, as required by applicable law). For purposes of this
Appendix A, a Participant's "Normal Retirement Date" shall be the date on which
the Participant retires from the employ of an Employer on or after attaining age
sixty-five (65).

         (C)      When and if directed by the Committee, the Trustee shall make
interim payments from the Grandfathered Account to the Participant, or in the
event of his death to his Beneficiary,

                                     - 60 -
<PAGE>

at such time and in such amounts as the Committee may direct during the period
prior to the date on which distribution of the Grandfathered Account commences.

         (D)      In the event of the Participant's death, the Committee shall
permit the Beneficiary to select the method of distributing the Participant's
Grandfathered Account if the Participant does not file a written direction with
the Committee prior to his death.

         (E)      Notwithstanding anything in the above to the contrary, payment
of the Participant's Grandfathered Account shall commence no later than the
latest of the close of the Plan Year in which occurs:

                  (i)      the date on which the Participant attains age
         sixty-five (65);

                  (ii)     the tenth (10th) anniversary of the date on which the
         Participant commenced participation; or

                  (iii)    the date on which the Participant terminates
         employment.

         (F)      All payment options shall require that the present value of
expected payments to be made to the Participant shall be more than fifty (50)
percent of the present value of all payments.

         (G)      Solely as to account balances under the Jerry Freeman, Inc.
Profit Sharing Plan that were transferred into the Freeman Plan and thereafter
transferred into this Plan, such amounts shall continue to be eligible to be
distributed in the following forms:

                  (i)      The form of benefit to be received for a married
         Participant shall be a fifty (50) percent joint and survivor annuity,
         which is the actuarial equivalent of the amount which would be paid
         under Subsection (ii), unless the Participant elects under Subsection
         (iv) hereof to receive an alternate form of payment as described in
         Subsections (ii) and (iii). Unless an optional form of payment is
         selected pursuant to a qualified election within the ninety (90)-day
         period ending on the Annuity Starting Date, an unmarried Participant's
         benefit will be paid in the form of a life annuity, as described under
         Subsection (ii). "Annuity Starting Date" means the first day of the
         first period for which an amount is payable as an annuity or, in the
         case of a benefit not payable in the form of an annuity, the first day
         on which all events have occurred which entitle the Participant to such
         benefit; or

                  (ii)     In the form of a life annuity purchased from an
         insurance company. Such single life annuity shall be a monthly annuity
         during the life of the Participant with no payments on his behalf after
         his death (this benefit shall be the automatic form of payment if the
         Employee has no "Eligible Spouse" (as defined below) on his termination
         date, and shall be the actuarial equivalent of the benefit as would be
         paid under Section (A)(i)); or

                  (iii)    In the form of a joint and survivor annuity purchased
         from an insurance company. Such joint and survivor annuity shall be a
         monthly annuity for the life of the

                                     - 61 -
<PAGE>

         Participant and, upon the death of the Participant, a monthly annuity
         thereafter for the life of the designated Beneficiary, which is equal
         to fifty (50) percent, sixty-six and two-thirds (66-2/3) percent, or
         one hundred (100) percent of the amount of the annuity payable during
         the joint lives of the Participant and his Beneficiary (with such
         benefit to be the actuarial equivalent of the benefit as would be paid
         under Section (A)(i)).

         The Trustee shall have no discretion with respect to making
         distributions under the Plan and, therefore, except as otherwise
         specifically provided hereinabove, shall make distributions only at
         such time and in such manner as the Committee directs. The Trustee
         shall have no responsibility to see to the application of the amount of
         the annuity payable during the lives of the Participant and his
         Beneficiary.

                  (iv)     Any Participant (including a former Participant with
         a vested interest) may elect, subject to Subsection (v) hereof, to have
         the benefit payable to him paid in optional forms described in
         Subsections (ii) and (iii) hereof, provided that a married Participant,
         pursuant to Code Section 401(a)(11), shall receive his or her benefit
         in the form stated in Subsection (i), unless the Participant with the
         consent of his/her spouse elects not to receive a distribution in
         accordance with such method. Any such election may be made at any time
         following the date the Employee becomes a Participant and preceding the
         date payment of the Grandfathered Account is to commence, and may be
         revoked by the Participant during such period; provided that, to the
         extent required by the regulations issued under Code Section
         411(a)(11), at least 30 days but not more than 90 days before a
         Participant's scheduled benefit commencement date, the Committee shall
         provide to the Participant a written explanation of his right to
         receive optional forms of benefits under the Plan and to otherwise
         defer receipt of a distribution. Such distributions may commence less
         than 30 days after the notice required under Section 1.411(a)-11(c) of
         the Federal Income Tax Regulations is given, provided that:

                  (a)      the Committee clearly informs the Participant that
                           the Participant has a right to a period of at least
                           30 days after receiving the notice to consider the
                           decision of whether or not to elect a distribution
                           (and, if applicable, a particular distribution
                           option); and

                  (b)      the Participant, after receiving the notice,
                           affirmatively elects a distribution.

         Spousal consent evidencing the rejection of either a pre- or
         post-retirement survivor benefit shall not take effect unless:

                  (a)      The spouse of the Participant consents in writing to
                           such election;

                  (b)      Such election designates a Beneficiary (or a form of
                           benefits) which may not be changed without spousal
                           consent (or the consent of the spouse expressly
                           permits designations by the Participant without any
                           requirement of further consent by the spouse);

                                     - 62 -
<PAGE>

                  (c)      The spousal consent acknowledges the effect of such
                           election and is witnessed by a Plan representative or
                           notary public.

         Further, spousal consent evidencing the rejection of a post-retirement
         survivor benefit shall not take effect unless such written consent is
         made within the ninety (90)-day period prior to the Annuity Starting
         Date, as defined in this Section (G)(i).

         Spousal consent shall not be required where the Participant establishes
         to the satisfaction of the Committee that such spousal consent may not
         be obtained because there is no spouse or the spouse cannot be located.
         At the time of such notification, the Participant shall also be
         furnished, or be advised of the availability of, a written explanation,
         in nontechnical language, of the terms and conditions of the joint and
         survivor annuity and the financial effect upon the Participant's
         annuity (in terms of dollars per annuity payment) of making such an
         election. Any election made by a Participant hereunder shall be in
         writing and shall clearly indicate that the Participant is electing to
         receive his Grandfathered Account in a form other than that of a joint
         and survivor annuity. The election provided hereunder may be revoked by
         the Participant within the period during which an election may be made
         and, in addition, a new election may be made by the Participant within
         such period, provided the spousal consent requirements above have been
         met.

                  (v)      Except as permitted in the succeeding sentence, a
         Participant may not elect an optional form of retirement income (under
         any provisions of this Article) providing monthly benefits to a
         Beneficiary, unless the actuarial value of the payment expected to be
         made to the Participant is more than fifty (50) percent of the
         actuarial value of the total payments expected to be made under such
         optional form. The preceding sentence shall not apply to an optional
         form of retirement income providing monthly benefits to the Eligible
         Spouse of a Participant for as long as such Eligible Spouse shall
         survive the Participant. In no event, however, can the amount of each
         monthly payment to a Beneficiary exceed that payable to the Participant
         under the optional form of retirement income. For the purposes of this
         Plan, "Eligible Spouse" shall mean the spouse of a Participant who is
         legally married to the Participant throughout the one (1)-year period
         ending on the earlier of the date of such Participant's death, or the
         date payment of such Participant's Grandfathered Account commences
         including, for this purpose, a spouse who marries an Employee within
         one (1) year before the date payment of such Participant's
         Grandfathered Account commences, notwithstanding the above.

         (H)      A Participant entitled to a distribution of his Grandfathered
Account may elect to receive a lump sum distribution of his entire Grandfathered
Account.

                                     - 63 -PHONE1GLOBALWIDE, INC.

                            SUBSCRIPTION INSTRUCTIONS

                                       TO

                       REGULATION S SUBSCRIPTION AGREEMENT

1.      SUBSCRIPTION AGREEMENT.

READ THE SUBSCRIPTION AGREEMENT IN ITS ENTIRETY. It contains certain statements
and certain representations required to be made by each subscriber. Complete,
date and sign the Signature Page (page 12 of the Subscription Agreement) and
return the executed Subscription Agreement, together with payment in full for
the number of Shares subscribed for, to the Company at the address set forth in
Item 3 below.

2.      CERTIFICATE FOR CORPORATE, PARTNERSHIP, TRUST AND JOINT PURCHASERS.

If the purchaser is a corporation, partnership, trust or two or more individuals
purchasing jointly, note the specific instructions that appear in the
Certificate of Corporate, Partnership, Trust and Joint Purchasers. Please date
and sign the Certificate.

3.      PAYMENT.

You will be required to submit the executed Signature Page and tender the
correct purchase price by check (made payable to "Phone1Globalwide, Inc.") or
wire transfer in order to complete your subscription. See Section 1 of the
Subscription Agreement.

Deliver or mail Items 1, 2 and 3 to: Phone1Globalwide, Inc., 100 N. Biscayne
Boulevard, Suite 2500, Miami, Florida 33132, Attention: Syed Naqvi, Chief
Financial Officer.

ALL INFORMATION SHOULD BE TYPED OR PRINTED IN INK. ANY CORRECTIONS MUST BE
INITIALED.

<PAGE>

                             PHONE1GLOBALWIDE, INC.

                       REGULATION S SUBSCRIPTION AGREEMENT

Phone1Globalwide, Inc.
100 N. Biscayne Boulevard, Suite 2500
Miami, Florida 33132

Attention:  Syed Naqvi, Chief Financial Officer

Gentlemen:

1.      SUBSCRIPTION. The undersigned (the "Purchaser"), intending to be legally
bound, hereby irrevocably agrees to purchase from Phone1Globalwide, Inc., a
Delaware corporation (the "Company"), 11,061,946 shares of the Company's Common
Stock, $.001 par value (the "Shares"), at a purchase price of US$1.13 per Share
(for a total of US$12,500,000). The Purchaser acknowledges that prior to the
execution hereof, the books and records of the Company, including financial
information, have been made available and continue to be made available for
inspection by the Purchaser at the offices of the Company.

2.      PAYMENT. The Purchaser will, no later than September 30, 2003, make a
wire transfer payment to "Phone1Globalwide, Inc." or deposit in a bank account
of the Company, which shall be in the amount of US$12,500,000 for the Shares.

3.      ACCEPTANCE OF SUBSCRIPTION. The Shares subscribed for herein shall not
be deemed issued to or owned by the Purchaser until the purchase price for the
Shares described in Section 2 above has been paid.

4.      REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

        (a) The Company (i) is a duly organized and validly existing corporation
in good standing under the laws of the jurisdiction of its incorporation, (ii)
has the power and authority and possesses all franchises, permits,
authorizations and approvals necessary to carry on its business as now being
conducted and to own its property and assets, and (iii) has good and marketable
title to its assets free and clear of any lien, except for liens that do not
cause a material adverse effect in the condition of the Borrower, the Guarantor
and its subsidiaries and except as set forth in filings with the United States
Securities and Exchange Commission under the United States Securities Act of
1933, as amended (the "Securities Act") or the Securities Exchange Act of 1934
or any successor statute thereof (the "Exchange Act").

        (b) The Company has the power and authority to execute, deliver and
perform the terms and provisions of this Agreement and has taken all necessary
corporate action to authorize the execution, delivery and performance by it of
this Agreement. The

                                       1

<PAGE>

Company has duly executed and delivered this  Agreement  which  constitutes  its
legal, valid and binding obligation  enforceable in accordance with their terms,
except as such enforcement may be limited by applicable bankruptcy,  insolvency,
fraudulent  conveyance,  reorganization  or other  similar  laws  relating to or
limiting creditors' rights generally or by general equity principles.

        (c) Neither the execution, delivery or performance by the Company of
this Agreement, nor compliance by it with the terms and provisions thereof (i)
will contravene any provision of any law, statute, rule or regulation or any
order, writ, injunction or decree of any court or governmental instrumentality
binding on the Company, (ii) will conflict or be inconsistent with or result in
any breach of any of the terms, covenants, conditions or provisions of, or
constitute a default in respect of the terms of any indenture, mortgage, deed or
trust, credit agreement, loan agreement or any other agreement, contract or
instrument to which the Company is a party or by which its properties or assets
is bound or to which it may be subject.

        (d) When issued the Shares (i) will be duly and validly issued; (ii)
will be fully paid and non-assessable and (iii) will be free and clear from any
liens and the Company shall deliver to the Purchaser, certificate(s)
representing the Shares.

5.      REPRESENTATIONS AND WARRANTIES OF THE PURCHASER. The Purchaser hereby
represents, warrants, acknowledges and agrees as follows:

        (a) The Purchaser is a duly organized and validly existing corporation
in good standing under the laws of the jurisdiction of its incorporation.

        (b) The Purchaser has the power and authority to execute, deliver and
perform the terms and provisions of this Agreement and has taken all necessary
corporate action to authorize the execution, delivery and performance by it of
this Agreement. The Purchaser has duly executed and delivered this Agreement
which constitutes its legal, valid and binding obligation enforceable in
accordance with their terms, except as such enforcement may be limited by
applicable bankruptcy, insolvency, fraudulent conveyance, reorganization or
other similar laws relating to or limiting creditors' rights generally or by
general equity principles.

        (c) Neither the execution, delivery or performance by the Purchaser of
this Agreement, nor compliance by it with the terms and provisions thereof (i)
will contravene any provision of any law, statute, rule or regulation or any
order, writ, injunction or decree of any court or governmental instrumentality
binding on the Company, (ii) will conflict or be inconsistent with or result in
any breach of any of the terms, covenants, conditions or provisions of, or
constitute a default in respect of the terms of any indenture, mortgage, deed or
trust, credit agreement, loan agreement or any other agreement, contract or
instrument to which the Company is a party or by which its properties or assets
is bound or to which it may be subject.

                                       2

<PAGE>

        (d) The offering and sale of the Shares is not registered under the
Securities Act or any state securities laws. The Purchaser understands that the
offering and sale of the Shares is intended to be exempt from registration under
the Securities Act by virtue of Regulation S thereof and Rules 901 through 905
and the Preliminary Notes of Regulation S, based, in part, upon the
representations, warranties and agreements of the Purchaser contained in this
Subscription Agreement. The Purchaser further represents and warrants as
follows:

               (i) Neither the undersigned nor any person or entity for whom the
undersigned is acting as fiduciary is a U.S. Person. A "U.S. Person" means any
one of the following:

               (A) any natural person resident in the United States;

               (B) any partnership or corporation organized or incorporated
under the laws of the United States;

               (C) any estate of which any executor or administrator is a U.S.
Person;

               (D) any trust of which any trustee is a U.S. Person;

               (E) any agency or branch of a foreign entity located in the
United States;

               (F) any non-discretionary account or similar account (other than
an estate or trust) held by a dealer or other fiduciary for the benefit or
account of a U.S. Person;

               (G) any discretionary account or similar account (other than an
estate or trust) held by a dealer or other fiduciary organized, incorporated, or
(if an individual) resident in the United States; and

               (H) any partnership or corporation if:

                      (1) organized or incorporated under the laws of any
foreign jurisdiction; and

                      (2) formed by a U.S. Person principally for the purpose of
investing in securities not registered under the Securities Act, unless it is
organized or incorporated, and owned, by accredited investors (as defined in
Rule 501(a) under the Securities Act) who are not natural persons, estates or
trusts.

The following are not "U.S. Persons":

               (A) Any discretionary account or similar account (other than an
estate or trust) held for the benefit or account of a non-U.S. Person by a
dealer or other

                                       3

<PAGE>

professional fiduciary organized,  incorporated,  or (if an individual) resident
in the United States;

               (B) Any estate of which any professional fiduciary acting as
executor or administrator is a U.S. Person if:

                      (1) an executor or administrator of the estate who is not
a U.S. Person has sole or shared investment discretion with respect to the
assets of the estate; and

                      (2) the estate is governed by foreign law;

               (C) Any trust of which any professional fiduciary acting as
trustee is a U.S. Person, if a trustee who is not a U.S. Person has sole or
shared investment discretion with respect to the trust assets, and no
beneficiary of the trust (and no settlor if the trust is revocable) is a U.S.
Person;

               (D) An employee benefit plan established and administered in
accordance with the law of a country other than the United States and customary
practices and documentation of such country;

               (E) Any agency or branch of a U.S. Person located outside the
United States if:

                      (1) the agency or branch operates for valid business
reasons; and

                      (2) the agency or branch is engaged in the business of
insurance or banking and is subject to substantive insurance or banking
regulation, respectively, in the jurisdiction where located; and

               (F) The International Monetary Fund, the International Bank for
Reconstruction and Development, the Inter-American Development Bank, the Asian
Development Bank, the African Development Bank, the United Nations, and their
agencies, affiliates and pension plans, and any other similar international
organizations, their agencies, affiliates and pension plans.

"United States" means the United States of America, its territories and
possessions, any State of the United States, and the District of Columbia.

               (ii) At the time the buy order for the Shares subscribed for
hereunder was originated, the Purchaser was outside the United States and is
outside of the United States as of the date of the execution and delivery of
this Subscription Agreement. No offer to purchase the Shares was made in the
United States.

                                       4

<PAGE>

               (iii) The Purchaser will resell the Shares only in accordance
with the provisions of Regulation S under the Securities Act (Rule 901 through
Rule 905, and Preliminary Notes). Prior to the expiration of the distribution
compliance period (as such term is defined in Rule 902 of the Securities Act),
all offers and sales shall only be made in compliance with the safe harbor
provided in Regulation S, pursuant to a registration under the Securities Act
and applicable state securities laws. After the expiration of the distribution
compliance period, all offers and sales shall be made only pursuant to a
registration under the Securities Act and applicable state securities laws, or
an available exemption therefrom.

               (iv) The Purchaser agrees not to engage in any hedging
transactions with regard to the Company's securities unless in compliance with
the Securities Act.

               (v) Neither the Purchaser nor any affiliates thereof will,
directly or indirectly, maintain any short position in the Shares or any other
securities of the Company for so long as any of the Shares are owned by the
Purchaser.

               (vi) The Purchaser acknowledges that the Company will refuse to
register any transfer of Shares not made in accordance with the provisions of
Regulation S under the Securities Act, pursuant to a registration of Shares
under the Securities Act, or pursuant to an available exemption from such
registration.

THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT,
OR THE SECURITIES LAWS OF ANY U.S. STATE AND ARE BEING OFFERED AND SOLD IN
RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF SAID ACT AND SUCH
LAWS. THE SECURITIES ARE SUBJECT TO RESTRICTION ON TRANSFERABILITY AND RESALE
AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF
REGULATION S OF SAID ACT (RULE 901 THROUGH RULE 905, AND PRELIMINARY NOTES),
PURSUANT TO REGISTRATION UNDER SAID ACT AND SUCH LAWS, OR PURSUANT TO AN
EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY WILL BE REQUIRED TO
BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.
THE SHARES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE
COMMISSION, ANY U.S. STATE SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY,
NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF
THE SALE OF THE SHARES. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

        (f) The Purchaser agrees that the purchase of the Shares is a long-term
investment and that the Purchaser may have to bear the economic risk of the
investment for an indefinite period of time because the Shares have not been
registered under the Securities Act and may never be registered and cannot be
resold, pledged, assigned or otherwise disposed of except (i) in accordance with
the provisions of Regulation S under the Securities Act (Rules 901 through 905,
and Preliminary Notes), (ii) pursuant to

                                       5

<PAGE>

registration under the Securities Act and under applicable securities laws of
certain U.S. states, (iii) pursuant to an available exemption from such
registration or (iv) in circumstances in which said Securities Act and such laws
do not apply.

        (g) The Purchaser and the Purchaser's attorney, accountant, purchaser
representative and/or tax advisor, if any (collectively, the "Advisors"), have
had the opportunity to ask questions of and review the information, including
financial information, about the Company and have carefully reviewed any such
documentation and understand the information contained therein.

        (h) Neither the United States Securities and Exchange Commission nor any
state securities commission in the United States has approved the Shares, or
passed upon or endorsed the merits of the purchase or sale of the Shares.

        (i) All documents, records and books pertaining to the investment in the
Shares have been made available for inspection by such Purchaser and the
Advisors, if any. The Purchaser and the Advisors, if any, have had a reasonable
opportunity to ask questions of, and receive answers from, a person or persons
acting on behalf of the Company concerning the offering of the Shares and the
business, financial condition, results of operations and prospects of the
Company, and all such questions have been answered to the full satisfaction of
the Purchaser and the Advisors, if any. The Purchaser and the Advisors, if any,
have had the opportunity to obtain any additional information, to the extent the
Company had such information in its possession or could acquire it without
unreasonable effort or expense and all documents received or reviewed in
connection with the purchase of the Shares and have had the opportunity to have
representatives of the Company provide them with such additional information
regarding the terms and conditions of this particular investment and the
financial condition, results of operations, business and prospects of the
Company deemed relevant by the Purchaser or the Advisors, if any, and all such
requested information, to the extent the Company had such information in its
possession or could acquire it without unreasonable effort or expense, has been
provided to Purchaser's full satisfaction.

        (j) In evaluating the suitability of an investment in the Company, the
Purchaser has not relied upon any representation or other information (oral or
written) other than as contained in documents or answers to questions so
furnished by the Company to the Purchaser or the Advisors, if any.

        (k) The Purchaser is unaware of, is in no way relying on and did not
become aware of the offering of the Shares through, or as a result of, any form
of general solicitation or general advertising including, without limitation,
any article, notice, advertisement or other communication published in any
newspaper, magazine or similar media or broadcast over television, radio, the
Internet or any other form of electronic media, in connection with the offering
and sale of the Shares and is not subscribing for the Shares and did not become
aware of the offering of the Shares through or as a result of any seminar or
meeting to which the Purchaser was invited by, or any solicitation of a

                                       6

<PAGE>

subscription by, a person not previously known to the Purchaser in connection
with investments in securities generally.

        (l) The Purchaser has taken no action which would give rise to any claim
by any person for brokerage commissions, finders' fees or the like relating to
this Subscription Agreement or the transactions contemplated hereby.

        (m) The Purchaser or the Advisors, if any, have such knowledge and
experience in financial, tax and business matters, and, in particular,
investments in securities, so as to enable them to utilize the information made
available to them in connection with the offering of the Shares to evaluate the
merits and risks of an investment in the Shares and the Company and to make an
informed investment decision with respect thereto. The Purchaser is not relying
on the Company or any of its employees or agents with respect to the legal, tax,
economic and related considerations of an investment in the Shares, and the
Purchaser has relied on the advice of, or has consulted with, only his own
Advisors, if any. The Purchaser represents, warrants and covenants that the
Purchaser is an "Accredited Investor" within the meaning of Rule 501 of the
Securities Act. In particular, if the Purchaser is an individual, the Purchaser
qualifies as such pursuant to Subsections (a)(5) and (6) of Rule 501, which
provides that an Accredited Investor shall include:

               "(5) any natural person whose individual net worth, or joint net
worth with that person's spouse, at the time of his purchase exceeds $1,000,000;
and

               (6) any natural person who had an individual income in excess of
$200,000 in each of the two most recent years or joint income with that person's
spouse in excess of $300,000 in each of those years and has a reasonable
expectation of reaching the same income level in the current year."

        (n) The Purchaser is acquiring the Shares solely for such Purchaser's
own account for investment and not with a view towards resale or distribution
thereof, in whole or in part. The Purchaser has no agreement or arrangement,
formal or informal, with any person to sell or transfer all or any part of the
Shares, and the Purchaser has no plans to enter into any such agreement or
arrangement.

        (o) The Purchaser must bear the substantial economic risks of the
investment in the Shares indefinitely because none of the Shares may be sold,
hypothecated or otherwise disposed of unless subsequently registered under the
Securities Act and applicable state securities laws or an exemption from such
registration is available. Legends shall be placed on the certificates
representing the Shares to the effect that they have not been registered under
the Securities Act or applicable state securities laws and appropriate notations
thereof will be made in the Company's stock books. It is not anticipated that
there will be any market for resale of the Shares, and such Shares will not be
freely transferable at any time in the foreseeable future.

                                       7

<PAGE>

        (p) The Purchaser has adequate means of providing for such Purchaser's
current financial needs and foreseeable contingencies and has no need for
liquidity of the investment in the Shares for an indefinite period of time.

        (k) The Purchaser is aware that an investment in the Shares involves a
number of very significant risks.

        (r) The Purchaser acknowledges that except for any rescission rights
that may be provided under applicable laws, the Purchaser is not entitled to
cancel, terminate or revoke this subscription, and any agreements made in
connection herewith shall survive Purchaser's death or disability.

        (s) The Purchaser: (i) if a natural person, represents that the
Purchaser has reached the age of 21 and has full power and authority to execute
and deliver this Subscription Agreement and all other related agreements or
certificates and to carry out the provisions hereof and thereof; (ii) if a
corporation, limited liability company or partnership, association, joint stock
company, trust, unincorporated organization or other entity, such entity was not
formed for the specific purpose of acquiring the Shares, such entity is duly
organized, validly existing and in good standing under the laws of the
jurisdiction of its organization, the consummation of the transactions
contemplated hereby does not conflict with and will not result in a violation of
applicable law or its charter or other organizational documents, such entity has
full power and authority to execute and deliver this Subscription Agreement and
all other related agreements or certificates and to carry out the provisions
hereof and thereof and to purchase and hold the Shares, the execution and
delivery of this Subscription Agreement has been duly authorized by all
necessary action and this Subscription Agreement has been duly executed and
delivered on behalf of such entity and is a legal, valid and binding obligation
of such entity enforceable in accordance with its terms; and (iii) if executing
this Subscription Agreement in a representative or fiduciary capacity, it has
full power and authority to execute and deliver this Subscription Agreement in
such capacity and on behalf of the subscribing individual, ward, partnership,
trust, estate, corporation, limited liability company, or other entity for whom
the Purchaser is executing this Subscription Agreement, and such individual,
ward, trust, estate, corporation, limited liability company or partnership, or
other entity has full right and power to perform pursuant to this Subscription
Agreement and make an investment in the Company, and that this Subscription
Agreement constitutes a legal, valid and binding obligation of such entity
enforceable in accordance with its terms. The execution and delivery of this
Subscription Agreement will not violate or be in conflict with any order,
judgment, injunction, agreement or controlling document to which the Purchaser
is a party or by which it is bound.

        (t) The Purchaser represents to the Company that any information which
the undersigned has heretofore furnished or furnishes herewith to the Company is
complete and accurate and may be relied upon by the Company in determining the
availability of an exemption from registration under Federal and state
securities laws in connection with the purchase of the Shares. The Purchaser
further represents and warrants that it will

                                       8

<PAGE>

notify and supply corrective information to the Company immediately upon the
occurrence of any change therein occurring prior to the Company's issuance of
the Shares.

        (u) The Purchaser has significant prior investment experience, including
investment in non-listed and non-registered securities. The Purchaser has a
sufficient net worth to sustain a loss of its entire investment in the Company
in the event such a loss should occur. The Purchaser's overall commitment to
investments which are not readily marketable is not excessive in view of
Purchaser's net worth and financial circumstances and the purchase of the Shares
will not cause such commitment to become excessive. The investment is a suitable
one for the Purchaser.

        (v) Within five (5) days after receipt of a request from the Company,
the Purchaser will provide such information and deliver such documents as may
reasonably be necessary to comply with any and all laws and ordinances to which
the Company is subject.

6.      INDEMNIFICATION. The Purchaser agrees to indemnify and hold harmless the
Company and its officers, directors, employees, agents, control persons and
affiliates against all losses, liabilities, claims, damages, and expenses
whatsoever (including, but not limited to, any and all expenses incurred in
investigating, preparing or defending against any litigation commenced or
threatened) based upon or arising out of any actual or alleged false
acknowledgment, representation or warranty, or misrepresentation or omission to
state a material fact, or breach by the Purchaser of any covenant or agreement
made by the Purchaser herein or in any other document delivered in connection
with this Subscription Agreement.

7.      BINDING EFFECT. The Purchaser hereby acknowledges and agrees that the
subscription hereunder is irrevocable by the Purchaser, except as required by
applicable law, and that this Subscription Agreement shall survive the death,
disability, bankruptcy or dissolution of the Purchaser and shall be binding upon
and inure to the benefit of the parties and their heirs, executors,
administrators, successors, legal representatives and permitted assigns. If the
Purchaser is more than one person, the obligations of the Purchaser hereunder
shall be joint and several and the agreements and acknowledgements herein shall
be deemed to be made by, and be binding upon, each such person and such person's
heirs, executors, administrators, successors, legal representatives and
permitted assigns.

8.      MODIFICATION. This Subscription Agreement shall not be modified or
waived except by an instrument in writing signed by the party against whom any
such modification or waiver is sought.

9.      NOTICES. Any notice or other communication required or permitted to be
given hereunder shall be in writing and shall be mailed by certified mail,
return receipt requested, or delivered against receipt to the party to whom it
is to be given: (a) if to Company, at the address set forth

                                       9

<PAGE>

above, or (b) if to the Purchaser, at the address set forth on the signature
page hereof (or, in either case, to such other address as the party shall have
furnished in writing in accordance with the provisions of this Section 9). Any
notice or other communication given by certified mail shall be deemed given at
the time of certification thereof, except for a notice changing a party's
address which shall be deemed given at the time of receipt thereof. Any notice
or other communication given by any other means shall be deemed given at the
time of receipt thereof.

10.     ASSIGNABILITY. This Subscription Agreement and the rights, interests and
obligations hereunder are not transferable or assignable by the Purchaser and
the transfer or assignment of the Shares shall be made only in accordance with
all applicable laws.

11.     APPLICABLE LAW. This Subscription Agreement shall be governed by, and
construed in accordance with, the laws of the State of Florida relating to
contracts entered into and to be performed wholly within such State. The
Purchaser hereby irrevocably submits to the jurisdiction of the U.S. District
Court for the Southern District of Florida or, if such Court lacks subject
matter jurisdiction, in the state court of general jurisdiction in Dade County,
Miami, Florida over any action or proceeding arising out of, or relating to,
this Subscription Agreement or any agreement contemplated hereby, and the
Purchaser hereby irrevocably agrees that all claims in respect of such action or
proceeding may be heard and determined in such courts. The Purchaser further
waives any objection to venue in such State and any objection to an action or
proceeding in such State on the basis of inconvenient forum. THE PURCHASER
AGREES TO WAIVE ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED
UPON OR ARISING OUT OF THIS SUBSCRIPTION AGREEMENT, THE OFFER, SALE OR
ACQUISITION OF THE SHARES OR ANY DOCUMENT OR AGREEMENT CONTEMPLATED HEREBY.

12.     BLUE SKY QUALIFICATION. The purchase of Shares under this Subscription
Agreement is expressly conditioned upon the exemption from qualification of the
offer and sale of the Shares from applicable Federal and state securities laws.
The Company shall not be required to qualify this transaction under the
securities laws of any jurisdiction and, should qualification be necessary, the
Company shall be released from any and all obligations to maintain its offer,
and may rescind any sale contracted, in the jurisdiction.

13.     USE OF PRONOUNS. All pronouns and any variations thereof used herein
shall be deemed to refer to the masculine, feminine, neuter, singular or plural
as the identity of the person or persons referred to may require.

14.     CONFIDENTIALITY. The Purchaser acknowledges and agrees that any
information or data it or its Advisors, if any, have acquired from or about the
Company, not otherwise properly in the public domain, was received in strict
confidence. The Purchaser agrees not to divulge, communicate or disclose, or
permit its Advisors, if any, to disclose, except as may be required by law or
for the performance of this, or use to the detriment of the Company or for the
benefit of any other person or persons, or misuse in any way, any confidential
information of the Company, including any technical, trade or business

                                       10

<PAGE>

secrets of the Company and any technical, trade or business materials that are
treated by the Company as confidential or proprietary, including, but not
limited to, ideas, discoveries, inventions, developments and improvements
belonging to the Company and confidential information obtained by, or given to,
the Company about, or belonging to, third parties.

15.     SURVIVAL OF REPRESENTATIONS AND WARRANTIES. The representations and
warranties and agreements contained herein shall survive the delivery of, and
the payment for, the Shares.

16.     MISCELLANEOUS.

        (a) This Agreement constitutes the entire agreement between the
Purchaser and the Company with respect to the subject matter hereof and
supersedes all prior oral or written agreements and understandings, if any,
relating to the subject matter hereof. The terms and provisions of this
Subscription Agreement may be waived, or consent for the departure therefrom
granted, only by a written document executed by the party entitled to the
benefits of such terms or provisions.

        (b) The Purchaser's representations, warranties, agreements and
acknowledgments made in this Subscription Agreement shall survive the execution
and delivery hereof and delivery of the Shares.

        (c) Each of the parties hereto shall pay its own fees and expenses
(including the fees of any attorneys, accountants, appraisers or others engaged
by such party) in connection with this Subscription Agreement and the
transactions contemplated hereby whether or not the transactions contemplated
hereby are consummated.

        (d) This Subscription Agreement may be executed in one or more
counterparts each of which shall be deemed an original, but all of which shall
together constitute one and the same instrument.

        (e) Each provision of this Subscription Agreement shall be considered
separable and if for any reason any provision or provisions hereof are
determined to be invalid or contrary to applicable law, such invalidity or
illegality shall not impair the operation of or affect the remaining portions of
this Subscription Agreement.

        (f) Paragraph titles are for descriptive purposes only and shall not
control or alter the meaning of this Subscription Agreement as set forth in the
text.

                                       11

<PAGE>

If the purchaser is a PARTNERSHIP, CORPORATION, LIMITED LIABILITY COMPANY or
TRUST:

HISPANIC TELECOMMUNICATIONS
HOLDING S.A.                                  N/A
Name of Partnership,                          Federal Taxpayer
Corporation, Limited                          Identification Number (if any)
Liability Company or
Trust

Date:  September 30, 2003

By: Luxenbourg Corporation Company SA,
      as Managing Director

By: /s/ Valerie Ingelbrecht and
By: /s/ Guillaume Norkin-Saudax
    ------------------------------------
Name: Valerie Ingelbrecht and
      Guillaume Norkin-Saudax

Jurisdiction:  Luxembourg

Address:       9, Rue Schiller
               L-2519 Luxembourg

SUBSCRIPTION ACCEPTED AND AGREED TO
this 30 day of September, 2003

PHONE1GLOBALWIDE, INC.

By: /s/ Syed Naqvi
    -------------------------
    Syed Naqvi, CFO

                                       12

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