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                                                                   EXHIBIT 10.4

                  ABBOTT LABORATORIES SUPPLEMENTAL PENSION PLAN

                       (AS AMENDED THRU THE 18th AMENDMENT
                            EFFECTIVE JUNE 20, 2003)

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                  ABBOTT LABORATORIES SUPPLEMENTAL PENSION PLAN

                                    SECTION 1
                                  INTRODUCTION

     1-1.    On September 9, 1977, December 14, 1979 and February 10, 1984 the
Board of Directors of Abbott Laboratories ("Abbott") adopted certain resolutions
providing for payment of (i) pension benefits calculated under the Abbott
Laboratories Annuity Retirement Plan ("Annuity Plan") in excess of those which
may be paid under that plan under the limits imposed by Section 415 of the U.S.
Internal Revenue Code, as amended, and the Employee Retirement Income Security
Act ("ERISA") and (ii) the additional pension benefits that would be payable
under the Annuity Plan if deferred awards under the Abbott Laboratories
Management Incentive Plan were included in "final earnings" as defined in the
Annuity Plan.

     The purpose of this ABBOTT LABORATORIES SUPPLEMENTAL PENSION PLAN (the
"Supplemental Plan") is to clarify, restate and supersede the prior resolutions.

     1-2.    The Supplemental Plan shall apply to employees of Abbott and its
subsidiaries and affiliates existing as of the date of adoption of the
Supplemental Plan or thereafter created or acquired. (Abbott and each of such
subsidiaries and affiliates are hereinafter referred to as an "employer" and
collectively as the "employers").

     1-3.    All benefits provided under the Supplemental Plan shall be provided
from the general assets of the employers and not from any trust fund or other
designated asset. All participants in the Supplemental Plan shall be general
creditors of the employers with no priority over other creditors.

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     1-4.    The Supplemental Plan shall be administered by the Abbott
Laboratories Employee Benefit Board of Review appointed and acting under the
Annuity Plan ("Board of Review"). Except as stated below, the Board of Review
shall perform all powers and duties with respect to the Supplemental Plan,
including the power to direct payment of benefits, allocate costs among
employers, adopt amendments and determine questions of interpretation. The Board
of Directors of Abbott (the "Board of Directors") shall have the sole authority
to terminate the Supplemental Plan.

                                    SECTION 2
                     ERISA ANNUITY PLAN SUPPLEMENTAL BENEFIT

     2-1.    The benefits described in this Section 2 shall apply to all
participants in the Annuity Plan who retire, or terminate with a vested pension
under that plan, on or after September 9, 1977.

     2-2.    Each Annuity Plan participant whose retirement or vested pension
under that plan would otherwise be limited by Section 415, Internal Revenue
Code, shall receive a supplemental pension under this Supplemental Plan in an
amount, which, when added to his or her Annuity Plan pension, will equal the
amount the participant would be entitled to under the Annuity Plan as in effect
from time to time, based on the particular option selected by the participant,
without regard to the limitations imposed by Section 415, Internal Revenue Code.

                                    SECTION 3
                    1986 TAX REFORM ACT SUPPLEMENTAL BENEFIT

     3-1.    The benefits described in this Section 3 shall apply to all
participants in the Annuity Plan who retire, or terminate with a vested pension
under that plan, after December 31, 1988.

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     3-2.    Each Annuity Plan participant shall receive a supplemental pension
under this Supplemental Plan in an amount determined as follows:

     (a)     The supplemental pension shall be the difference, if any, between:

             (i)   the monthly benefit payable under the Annuity Plan plus any
                   supplement provided by Section 2; and

             (ii)  the monthly benefit which would have been payable under the
                   Annuity Plan (without regard to the limits imposed by Section
                   415, Internal Revenue Code) if the participant's "final
                   earnings", as defined in the Annuity Plan, had included
                   compensation in excess of the limits imposed by Section
                   401(a)(17), Internal Revenue Code, and any "pre-tax
                   contributions" made by the participant under the Abbott
                   Laboratories Supplemental 401(k) Plan.

                                    SECTION 4
          DEFERRED COMPENSATION PLAN ANNUITY PLAN SUPPLEMENTAL BENEFIT

     4-1.    The benefits described in this Section 4 shall apply to all
participants in the Annuity Plan who retire, or terminate with a vested pension,
under that plan, on or after January 1, 2002 and who made a Deferral Election
under the Abbott Laboratories Deferred Compensation Plan (the "Deferred
Compensation Plan") with respect to any calendar month during the one hundred
twenty consecutive calendar months immediately preceding retirement or
termination of employment.

     4-2.    Each Annuity Plan participant shall receive a supplemental pension
under this Supplemental Plan in an amount determined as follows:

     (a)     The supplemental pension shall be the difference, if any, between:

             (i)   the monthly benefit payable under the Annuity Plan plus any
                   supplement provided by Section 2 and Section 3; and

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             (ii)  the monthly benefit which would have been payable under the
                   Annuity Plan (without regard to the limits imposed by Section
                   415, Internal Revenue Code) if the participant's "base
                   earnings", as defined in the Annuity Plan, included deferrals
                   made under the Deferred Compensation Plan and any
                   compensation in excess of the limits imposed by Section
                   401(a)(17), Internal Revenue Code.

                                    SECTION 5
                 DEFERRED MIP ANNUITY PLAN SUPPLEMENTAL BENEFIT

     5-1.    The benefits described in this Section 5 shall apply to all
participants in the Annuity Plan who retire, or terminate with a vested pension,
under that plan, on or after December 14, 1979 and who were awarded Management
Incentive Plan awards for any calendar year during the ten consecutive calendar
years ending with the year of retirement or termination of employment.

     5-2.    Each Annuity Plan participant shall receive a supplemental pension
under this Supplemental Plan in an amount determined as follows:

     (a)     The supplemental pension shall be the difference, if any, between:

             (i)   the monthly benefit payable under the Annuity Plan plus any
                   supplement provided by Section 2, Section 3, and Section 4;
                   and

             (ii)  the monthly benefit which would have been payable under the
                   Annuity Plan (without regard to the limits imposed by Section
                   415, Internal Revenue Code) if the participant's "final
                   earnings", as defined in the Annuity Plan, were one-sixtieth
                   of the sum of:

                   (A)  the participant's total "basic earnings" (excluding any
                        payments under the Management Incentive Plan or any
                        Division Incentive Plan) received in the sixty
                        consecutive calendar months for which his basic earnings
                        (excluding any payments under the Management Incentive
                        Plan or any Division Incentive Plan) were highest within
                        the last one hundred twenty consecutive calendar months
                        immediately preceding his retirement or termination of
                        employment; and

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                   (B)  the amount of the participant's total awards under the
                        Management Incentive Plan and any Division Incentive
                        Plan (whether paid immediately or deferred) made for the
                        five consecutive calendar years during the ten
                        consecutive calendar years ending with the year of
                        retirement or termination for which such amount is the
                        greatest and (for participants granted Management
                        Incentive Plan awards for less than five consecutive
                        calendar years during such ten year period) which
                        include all Management Incentive Plan awards granted for
                        consecutive calendar years within such ten year period.

     (b)     That portion of any Management Incentive Plan award which the
             Compensation Committee has determined shall be excluded from the
             participant's "basic earnings" shall be excluded from the
             calculation of "final earnings" for purposes of this Section 5-2.
             "Final earnings" for purposes of this subsection 5-2 shall include
             any compensation in excess of the limits imposed by Section
             401(a)(17), Internal Revenue Code.

     (c)     In the event the period described in subsection 5-2(a)(ii)(B) is
             the final five calendar years of employment and a Management
             Incentive Plan award is made to the participant subsequent to
             retirement for the participant's final calendar year of employment,
             the supplemental pension shall be adjusted by adding such new award
             and subtracting a portion of the earliest Management Incentive Plan
             award included in the calculation, from the amount determined under
             subsection 5-2(a)(ii)(B). The portion subtracted shall be equal to
             that portion of the participant's final calendar year of employment
             during which the participant was employed by Abbott. If such
             adjustment results in a greater supplemental pension, the greater
             pension shall be paid beginning the first month following the date
             of such new award.

                                    SECTION 6
               CORPORATE OFFICER ANNUITY PLAN SUPPLEMENTAL BENEFIT

     6-1.    The benefits described in this Section 6 shall apply to all
participants in the Annuity Plan who are corporate officers of Abbott as of
September 30, 1993 or who become corporate officers thereafter, and who retire,
or terminate with a vested pension under that plan on or after September 30,
1993. The term "corporate officer" for purposes of this Supplemental Plan shall
mean an individual elected an officer of Abbott by its Board of Directors (or

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designated as such for purposes of this Section 6 by the Compensation Committee
of the Board of Directors of Abbott), but shall not include assistant officers.

     6-2.    Subject to the limitations and adjustments described below, each
participant described in subsection 6-1 shall receive a monthly supplemental
pension under this Supplemental Plan commencing on the participant's normal
retirement date under the Annuity Plan and payable as a life annuity, equal to
6/10 of 1 percent (.006) of the participant's final earnings (as determined
under subsection 5-2) for each of the first twenty years of the participant's
benefit service (as defined in the Annuity Plan) occurring after the
participant's attainment of age 35.

     6-3.    In no event shall the sum of (a) the participant's aggregate
percentage of final earnings calculated under subsection 6-2 and (b) of the
participant's aggregate percentage of final earnings calculated under subsection
5-1(b)(i) of the Annuity Plan, exceed the maximum aggregate percentage of final
earnings allowed under subsection 5-1(b)(i) of the Annuity Plan (without regard
to any limits imposed by the Internal Revenue Code), as in effect on the date of
the participant's retirement or termination. In the event the limitation
described in this subsection 6-3 would be exceeded for any participant, the
participant's aggregate percentage calculated under subsection 6-2 shall be
reduced until the limit is not exceeded.

     6-4.    Benefit service occurring between the date a participant ceases to
be a corporate officer of Abbott and the date the participant again becomes a
corporate officer of Abbott shall be disregarded in calculating the
participant's aggregate percentage under subsection 6-2.

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     6-5.    Any supplemental pension otherwise due a participant under this
Section 6 shall be reduced by the amount (if any) by which:

     (a)     the sum of (i) the benefits due such participant under the
             Annuity Plan and this Supplemental Plan, plus (ii) the actuarially
             equivalent value of the employer-paid portion of all benefits due
             such participant under the primary retirement plans of all
             non-Abbott employers of such participant; exceeds

     (b)     the maximum benefit that would be due under the Annuity Plan
             (without regard to the limits imposed by Section 415, Internal
             Revenue Code) based on the participant's final earnings (as
             determined under subsection 5-2), if the participant had accrued
             the maximum benefit service recognized by the Annuity Plan.

The term "primary retirement plan" shall mean any pension benefit plan as
defined in ERISA, whether or not qualified under the Internal Revenue Code,
which is determined by the Board of Review to be the primary pension plan of its
sponsoring employer. The term "non-Abbott employer" shall mean any employer
other than Abbott or a subsidiary or affiliate of Abbott. A retirement plan
maintained by an employer prior to such employer's acquisition by Abbott shall
be deemed a retirement plan maintained by a non-Abbott employer for purposes of
this subsection 6-5.

     6-6.    Any supplemental pension due a participant under this Section 6
shall be actuarially adjusted as provided in the Annuity Plan to reflect the
pension form selected by the participant and the participant's age at
commencement of the pension, and shall be paid as provided in subsection 7-2.

                                    SECTION 7
                         CORPORATE OFFICER ANNUITY PLAN
                      SUPPLEMENTAL EARLY RETIREMENT BENEFIT

     7-1.    The benefits described in this Section 7 shall apply to all persons
described in subsection 6-1.

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     7-2.    The supplemental pension due under Sections 2, 3, 4, 5 and 6 to
each participant described in subsection 7-1 shall be reduced as provided in
subsections 5-3 and 5-6 of the Annuity Plan for each month by which its
commencement date precedes the last day of the month in which the participant
will attain age 60. No reduction will be made for the period between the last
day of the months the participant will attain age 60 and age 62.

     7-3.    Each participant described in subsection 7-1 shall receive a
monthly supplemental pension under this Supplemental Plan equal to any reduction
made in such participant's Annuity Plan pension under subsections 5-3 or 5-6 of
the Annuity Plan for the period between the last day of the months the
participant will attain age 60 and age 62.

                                    SECTION 8
                                  MISCELLANEOUS

     8-1.    For purposes of this Supplemental Plan, the term "Management
Incentive Plan" shall mean the Abbott Laboratories 1971 Management Incentive
Plan, the Abbott Laboratories 1981 Management Incentive Plan and all successor
plans to those plans.

     8-2.    The supplemental pension described in Sections 2, 3, 4, 5, 6 and 7
shall be paid to the participant or his or her beneficiary based on the
particular pension option elected by the participant, in the same manner, at the
same time, for the same period and on the same terms and conditions as the
pension payable to the participant or his beneficiary under the Annuity Plan. In
the event a participant is paid his or her pension under the Annuity Plan in a
lump sum, any supplemental pension due under Sections 2, 3, 4, 5, 6 or 7 shall
likewise be paid in a lump sum. Notwithstanding the foregoing provision of this
subsection 8-2: (a) if the present value of the vested supplemental pensions
described in Sections 2, 3, 4, 5, 6 and 7 of a participant who is actively

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employed by Abbott as a corporate officer exceeds $100,000, then payment of such
pensions shall be made to the participant under Section 9 below; and (b) if the
monthly vested supplemental pensions, expressed as a straight life annuity, due
a participant or his or her beneficiary under Sections 2, 3, 4, 5, 6 and 7 do
not exceed an aggregate of One Hundred Fifty Dollars ($150.00) as of the
commencement date of the pension payable such participant or his or her
beneficiary under the Annuity Plan, and payment of such supplemental pension has
not previously been made under Section 9, the present value of such supplemental
pensions shall be paid such participant or beneficiary in a lump-sum.

     8-3.    Notwithstanding any other provisions of this Supplemental Plan, if
employment of any participant with Abbott and its subsidiaries and affiliates
should terminate for any reason within five (5) years after the date of a Change
in Control:

     (a)     The present value of any supplemental pension due the participant
             under Section 2 (whether or not then payable) shall be paid to the
             participant in a lump sum within thirty (30) days following such
             termination; and

     (b)     The present value of any supplemental pension due the participant
             under Sections 3, 4 or 5 (whether or not then payable) shall be
             paid to the participant in a lump sum within thirty (30) days
             following such termination.

The supplemental pension described in paragraph (a) shall be computed using as
the applicable limit under Section 415, Internal Revenue Code, such limit as is
in effect on the termination date and based on the assumption that the
participant will receive his or her Annuity Plan pension in the form of a
straight life annuity with no ancillary benefits. The present values of the
supplemental pensions described in paragraphs (a) and (b) shall be computed as
of the date of payment by using an interest rate equal to the Pension Benefit
Guaranty Corporation interest rate applicable to an immediate annuity, as in
effect on the date of payment.

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     8-4.    For purposes of subsection 8-3, a "Change in Control" shall be
deemed to have occurred on the earliest of the following dates:

     (a)     the date any Person is or becomes the Beneficial Owner, directly or
             indirectly, of securities of Abbott (not including in the
             securities beneficially owned by such Person any securities
             acquired directly from Abbott or its Affiliates) representing 20%
             or more of the combined voting power of Abbott's then outstanding
             securities, excluding any Person who becomes such a Beneficial
             Owner in connection with a transaction described in clause (i) of
             paragraph (c) below; or

     (b)     the date the following individuals cease for any reason to
             constitute a majority of the number of directors then serving:
             individuals who, on the date hereof, constitute the Board of
             Directors and any new director (other than a director whose initial
             assumption of office is in connection with an actual or threatened
             election contest, including but not limited to a consent
             solicitation, relating to the election of directors of Abbott)
             whose appointment or election by the Board of Directors or
             nomination for election by Abbott's shareholders was approved or
             recommended by a vote of at least two-thirds (2/3) of the directors
             then still in office who either were directors on the date hereof
             or whose appointment, election or nomination for election was
             previously so approved or recommended; or

     (c)     the date on which there is consummated a merger or consolidation of
             Abbott or any direct or indirect subsidiary of Abbott with any
             other corporation or other entity, other than (i) a merger or
             consolidation (A) immediately following which the individuals who
             comprise the Board of Directors immediately prior thereto
             constitute at least a majority of the Board of Directors of Abbott,
             the entity surviving such merger or consolidation or, if Abbott or
             the entity surviving such merger or consolidation is then a
             subsidiary, the ultimate parent thereof and (B) which results in
             the voting securities of Abbott outstanding immediately prior to
             such merger or consolidation continuing to represent (either by
             remaining outstanding or by being converted into voting securities
             of the surviving entity or any parent thereof), in combination with
             the ownership of any trustee or other fiduciary holding securities
             under an employee benefit plan of Abbott or any subsidiary of
             Abbott, at least 50% of the combined voting power of the securities
             of Abbott or such surviving entity or any parent thereof
             outstanding immediately after such merger or consolidation, or (ii)
             a merger or consolidation effected to implement a recapitalization
             of Abbott (or similar transaction) in which no Person is or becomes
             the Beneficial Owner, directly or indirectly, of securities of
             Abbott (not including in the securities Beneficially Owned by such
             Person any securities acquired directly from Abbott or its
             Affiliates) representing 20% or more of the combined voting power
             of Abbott's then outstanding securities; or

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     (d)     the date the shareholders of Abbott approve a plan of complete
             liquidation or dissolution of Abbott or there is consummated an
             agreement for the sale or disposition by Abbott of all or
             substantially all of Abbott's assets, other than a sale or
             disposition by Abbott of all or substantially all of Abbott's
             assets to an entity, at least 50% of the combined voting power of
             the voting securities of which are owned by shareholders of Abbott,
             in combination with the ownership of any trustee or other fiduciary
             holding securities under an employee benefit plan of Abbott or any
             subsidiary of Abbott, in substantially the same proportions as
             their ownership of Abbott immediately prior to such sale.

             Notwithstanding the foregoing, a "Change in Control" shall not be
             deemed to have occurred by virtue of the consummation of any
             transaction or series of integrated transactions immediately
             following which the record holders of the common stock of Abbott
             immediately prior to such transaction or series of transactions
             continue to have substantially the same proportionate ownership in
             an entity which owns all or substantially all of the assets of
             Abbott immediately following such transaction or series of
             transactions.

             For purposes of this Supplemental Plan: "Affiliate" shall have the
             meaning set forth in Rule 12b-2 promulgated under Section 12 of the
             Exchange Act; "Beneficial Owner" shall have the meaning set forth
             in Rule 13d-3 under the Exchange Act; "Exchange Act" shall mean the
             Securities Exchange Act of 1934, as amended from time to time; and
             "Person" shall have the meaning given in Section 3(a)(9) of the
             Exchange Act, as modified and used in Sections 13(d) and 14(d)
             thereof, except that such term shall not include (i) Abbott or any
             of its subsidiaries, (ii) a trustee or other fiduciary holding
             securities under an employee benefit plan of Abbott or any of its
             Affiliates, (iii) an underwriter temporarily holding securities
             pursuant to an offering of such securities, or (iv) a corporation
             owned, directly or indirectly, by the shareholders of Abbott in
             substantially the same proportions as their ownership of stock of
             Abbott.

     8-5     POTENTIAL CHANGE IN CONTROL. A "Potential Change in Control" shall
exist during any period in which the circumstances described in paragraphs (a),
(b), (c) or (d), below, exist (provided, however, that a Potential Change in
Control shall cease to exist not later than the occurrence of a Change in
Control):

     (a)     Abbott enters into an agreement, the consummation of which would
             result in the occurrence of a Change in Control, provided that a
             Potential Change in Control described in this paragraph (a) shall
             cease to exist upon the expiration or other termination of all such
             agreements.

     (b)     Any Person (without regard to the exclusions set forth in
             subsections (i) through (iv) of such definition) publicly announces
             an intention to take or to consider taking

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             actions the consummation of which would constitute a Change in
             Control; provided that a Potential Change in Control described in
             this paragraph (b) shall cease to exist upon the withdrawal of such
             intention, or upon a determination by the Board of Directors that
             there is no reasonable chance that such actions would be
             consummated.

     (c)     Any Person becomes the Beneficial Owner, directly or indirectly, of
             securities of Abbott representing 10% or more of either the then
             outstanding shares of common stock of Abbott or the combined voting
             power of Abbott's then outstanding securities (not including in the
             securities beneficially owned by such Person any securities
             acquired directly from Abbott or its Affiliates).

     (d)     The Board of Directors adopts a resolution to the effect that, for
             purposes of this Agreement, a Potential Change in Control exists;
             provided that a Potential Change in Control described in this
             paragraph (d) shall cease to exist upon a determination by the
             Board of Directors that the reasons that gave rise to the
             resolution providing for the existence of a Potential Change in
             Control have expired or no longer exist.

     8-6.    The provisions of subsections 8-3, 8-4, 8-5 and this subsection 8-6
may not be amended or deleted, nor superseded by any other provision of this
Supplemental Plan, (i) during the pendency of a Potential Change in Control and
(ii) during the period beginning on the date of a Change in Control and ending
on the date five (5) years following such Change in Control.

     8-7.    All benefits due under this Supplemental Plan shall be paid by
Abbott and Abbott shall be reimbursed for such payments by the employee's
employer. In the event the employee is employed by more than one employer, each
employer shall reimburse Abbott in proportion to the period of time the employee
was employed by such employer, as determined by the Board of Review in its sole
discretion.

     8-8.    The benefits under the Supplemental Plan are not in any way subject
to the debts or other obligations of the persons entitled to benefits and may
not be voluntarily or involuntarily sold, transferred or assigned.

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     8-9     Nothing contained in this Supplemental Plan shall confer on any
employee the right to be retained in the employ of Abbott or any of its
subsidiaries or affiliates.

     8-10.   Upon adoption of this Supplemental Plan, the prior resolutions
shall be deemed rescinded.

                                    SECTION 9
                   ALTERNATE PAYMENT OF SUPPLEMENTAL PENSIONS

     9-1.    If, as of December 31, 1995 or any subsequent December 31, the
present value of the supplemental pension described in Sections 2, 3, 4, 5, 6
and 7 of a participant, who is actively employed by Abbott as a corporate
officer, exceeds $100,000, then payment of such present value shall be made, at
the direction of the participant, by either of the following methods: (a)
current payment in cash directly to the participant, or (b) current payment of a
portion of such present value (determined as of that December 31) in cash for
the participant directly to a Grantor Trust established by the participant, and
current payment of the balance of such present value in cash directly to the
participant, provided that the payment made directly to the participant shall
approximate the aggregate federal, state and local individual income taxes
attributable to the amount paid pursuant to this subparagraph 9-1(b) (as
determined pursuant to the tax rates set forth in subsection 9-14).

     9-2.    If the present value of a participant's supplemental pension has
been paid to the participant (including amounts paid to the participant's
Grantor Trust) pursuant to subsection 9-1 (either as in effect prior to June 1,
1996 that applied to any participant with a supplemental pension with a present
value in excess of $100,000 or as currently in effect that requires the
participant to have a supplemental pension with a present value in excess of
$100,000 and to be a corporate

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officer), then as of each subsequent December 31, such participant shall be
entitled to a payment in an amount equal to: (i) the present value (as of that
December 31) of the participant's supplemental pension described in Sections 2,
3, 4, 5, 6 and 7 less (ii) the current value (as of that December 31) of the
payments previously made to the participant under subsections 9-1 and 9-2.
Payments under this subsection 9-2 shall be made, at the direction of the
participant, by either of the following methods: (a) current payment in cash
directly to the participant, or (b) current payment of a portion of such amount
in cash for the participant directly to the Grantor Trust established by the
participant; and current payment of the balance of such amount in cash directly
to the participant, provided that the payment made directly to the participant
shall approximate the aggregate federal, state and local individual income taxes
attributable to the amount paid pursuant to this subparagraph 9-2(b) (as
determined pursuant to the tax rates set forth in subsection 9-14). No payments
shall be made under this subsection 9-2 as of any December 31 after the calendar
year in which the participant retires or otherwise terminates employment with
Abbott.

     9-3.    Present values for the purposes of subsections 9-1, 9-2, 9-4 and
9-5 shall be determined using reasonable actuarial assumptions specified for
this purpose by Abbott and consistently applied. The "current value" of the
payments previously made to a participant under subsections 9-1 and 9-2 means
the aggregate amount of such payments, with interest thereon (at the rate
specified for this purpose by Abbott). For purposes of subsections 9-4 and 9-5,
"Projected Taxes" with respect to any payment of supplemental pension benefits
under subsections 9-1 or 9-2, shall mean the taxes which Abbott projects will be
incurred by the participant on the income earned (i) on the payment (net of
taxes) that is made pursuant to subsections 9-1 or 9-2, (ii) on the
corresponding payment(s) for Projected Taxes that are made pursuant to
subsection 9-4 and, if

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applicable, 9-5 and (iii) on the accumulated income earned on any of the
payments covered by parts (i) and (ii) hereof, during the life of such
participant's Grantor Trust (or during the period that such Grantor Trust would
have been in existence if the participant had elected to receive all of the
payments under subsections 9-1 and 9-2 in cash). In calculating such Projected
Taxes, Abbott shall use the aggregate of the current federal, state and local
tax rates specified by subsection 9-14.

     9-4.    Effective as of December 31, 1995, or any subsequent December 31,
as a result of any payment made to a Qualified Participant for any calendar year
pursuant to subsection 9-1 or 9-2, Abbott shall also make a corresponding
payment to such Qualified Participant in the amount of the present value of the
Projected Taxes. A "Qualified Participant" is either (i) a participant who as of
December 31, 1995 was actively employed by Abbott and who had previously
received, or as of such date was qualified to receive, a payment under
subsection 9-1; or (ii) a participant who as of any subsequent December 31
qualifies to receive a payment pursuant to subsection 9-1. The payment for
Projected Taxes under this subsection 9-4 shall be made to the Qualified
Participant in the identical manner that the payment under subsection 9-1 or 9-2
was made. For example, (a) if the Qualified Participant elected to receive the
payment under subsection 9-1 directly in cash, then Abbott shall also pay the
present value of the Projected Taxes on such payment in cash directly to the
Qualified Participant, and (b) if the Qualified Participant elected to receive
the payment under subsection 9-1 into a Grantor Trust established by the
Qualified Participant, then Abbott shall pay the present value of the Projected
Taxes on such payment as follows: current payment of a portion of such present
value (determined as of that December 31) in cash for such Qualified Participant
directly to a Grantor Trust established by such participant, and current payment
of the balance of such present value in cash directly to such Qualified
Participant, provided that the payment made

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directly to such participant shall approximate the aggregate federal, state and
local individual income taxes attributable to the amount paid pursuant to this
subparagraph 9-4(b) (as determined pursuant to the tax rates set forth in
subsection 9-14). No payments shall be made under this subsection 9-4 as of any
December 31 after the calendar year in which the participant retires or
otherwise terminates employment with Abbott.

     9-5.    In the event that Abbott has made any payment for projected Taxes
under subsection 9-4 in cash directly to the Qualified Participant and there is
a subsequent increase in the tax rates for such Qualified Participant, Abbott
shall make a further cash payment to such Qualified Participant in the amount of
(a) the present value of the Projected Taxes on the payments that were made
under subsections 9-1 and 9-2 in cash directly to such Qualified Participant
using the actual tax rates for previous years and the new tax rates (determined
in accordance with subsection 9-14) for the current and subsequent years, less
(b) the amount that would have been in the Qualified Participant's Tax Payment
Account with respect to the payments made under subsections 9-1 and 9-2 in cash
directly to the Participant, if such payments had instead been made to the
Qualified Participant's Grantor Trust. Such amount shall be paid by Abbott
directly to the Qualified Participant in cash. In the event that Abbott has made
any payment for Projected Taxes under subsection 9-4 to the Qualified
Participant's Grantor Trust, then Abbott shall as of December 31 of each year,
make a further payment to the Qualified Participant in the amount of (a) the
present value (as of that December 31) of the Projected Taxes on the payments
that were made under subsections 9-1 and 9-2 into the Qualified Participant's
Grantor Trust less (b) the balance of such Qualified Participant's Tax Payment
Account (as described in subsection 9-8). Such payment shall be paid by Abbott
as follows: the current payment of a portion of such amount in cash directly to
the Qualified

                                      -17-
<Page>

Participant's Grantor Trust and the current payment of the balance of such
amount in cash directly to such Qualified Participant; provided, that the
payments made directly to such Qualified Participant shall approximate the
aggregate federal, state and local individual income taxes attributable to the
amount paid pursuant to this subsection 9-5. No payments shall be made under
this subsection 9-5 for any year following the participant's death. In the event
that the calculation required by this subsection 9-5 for a Grantor Trust
demonstrates that there has been an overpayment of projected taxes, such
overpayment shall be held within the Grantor Trust in an Excess Tax Account and
may be used by Abbott as a credit against any payments due hereunder or as
specified in subsection 9-12.

     9-6.    For each Qualified Participant whose Grantor Trust has received a
payment pursuant to subsection 9-4, Abbott, as the administrator of such Grantor
Trust, shall direct the trustee to distribute to the participant from the income
of such Grantor Trust, a sum of money sufficient to pay the taxes on trust
earnings for such year. The taxes shall be calculated by multiplying the income
of the Grantor Trust by the aggregate of the federal, state, and local tax rates
(determined in accordance with subsection 9-14).

     9-7.    A participant shall be deemed to have irrevocably waived and shall
be foreclosed from any right to receive any supplemental pension benefits on
that portion of the supplemental pension that the participant elects to be paid
in cash under subsection 9-1 or 9-2. A participant, who has elected to receive a
payment under subsection 9-1 or 9-2 to a Grantor Trust, must establish such
trust in a form which Abbott determines to be substantially similar to the trust
attached to this Supplemental Plan as Exhibit A. If a participant fails to make
an election under subsection 9-1 or 9-2, or if a participant makes an election
under subsection 9-1 or 9-2 to receive payment in a Grantor Trust but fails to
establish a Grantor Trust, then payment shall be made in cash directly to the

                                      -18-
<Page>

participant. Each payment required under subsections 9-1, 9-2, 9-4 and 9-5 shall
be made as soon as practicable after the amount thereof can be ascertained by
Abbott, but in no event later than the last day of the calendar year following
the December 31 as of which such payment becomes due.

     9-8.    Abbott will establish and maintain a separate Supplemental Pension
Account in the name of each participant, a separate After-Tax Supplemental
Pension Account in the name of each participant, and a separate Tax Payment
Account in the name of each participant. The Supplemental Pension Account shall
reflect any amounts: (i) paid to a participant (including amounts paid to a
participant's Grantor Trust) pursuant to subsections 9-1 and 9-2; (ii) credited
to such Account pursuant to subsection 9-9; and (iii) disbursed to a participant
for supplemental pension benefits (or which would have been disbursed to a
participant if the participant had not elected to receive a cash disbursement
pursuant to subsections 9-1 and 9-2). The After-Tax Supplemental Pension Account
shall also reflect such amounts but shall be maintained on an after-tax basis.
The Tax Payment Account shall reflect any amounts (i) paid to a Qualified
Participant (net of taxes) pursuant to subsections 9-4 and 9-5 and
(ii) disbursed to a participant for the payment of taxes pursuant to subsection
9-6. The accounts established pursuant to this subsection 9-8 are for the
convenience of the administration of the Plan and no trust relationship with
respect to such accounts is intended or should be implied.

     9-9.    As of the end of each calendar year, a participant's Supplemental
Pension Account shall be credited with interest calculated at a reasonable rate
of interest specified for this purpose by Abbott and consistently applied. Any
amount so credited shall be referred to as a participant's "Interest Accrual".
The calculation of the Interest Accrual shall be based on the balance of the
payments made pursuant to subsections 9-1 and 9-2 and any Interest Accrual
thereon from previous

                                      -19-
<Page>

years. As of the end of each calendar year a participant's After-Tax
Supplemental Pension Account shall be credited with interest which shall be
referred to as the After-Tax Interest Accrual. The "After-Tax Interest Accrual"
shall be an amount equal to (a) the Interest Accrual credit to the participant's
Supplemental Pension Account for such year less (b) the product of (i) the
amount of such Interest Accrual multiplied by (ii) the aggregate of the federal,
state and local income tax rates (determined in accordance with subsection
9-14). The Excess Interest Account shall be the cumulative amount, if any, by
which the net income earned by the Grantor Trust on the payments made pursuant
to Sections 9-1, 9-2, 9-4, 9-5 and 9-10 (and interest earned thereon) for all
years that the Grantor Trust has been in existence exceeds the After-Tax
Interest Accrual for such years.

     9-10.   In addition to any payment made to a participant for any calendar
year pursuant to subsections 9-1, 9-2, 9-4 and 9-5, Abbott shall also make a
payment to a participant's Grantor Trust (a "Guaranteed Rate Payment"), for any
year in which the net income of such trust does not equal or exceed the
participant's After-Tax Interest Accrual for that year. The Guaranteed Rate
Payment shall equal the difference between the participant's After-Tax Interest
Accrual and such net income of the participant's Grantor Trust for the year, and
shall be paid within 180 days of the end of that year. Any funds in a
participant's Excess Interest Account may be used by Abbott as a credit against
any Guaranteed Rate Payment due to the participant under this subsection 9-10 or
as specified in subsection 9-12. No payments shall be made under this subsection
9-10 for any year following the year of the participant's death.

     9-11.   If at any time after a participant's retirement or other
termination of employment with Abbott, there is no longer a balance in his or
her Grantor Trust, then such participant (or his or her surviving spouse if such
spouse is entitled to periodic payments from the Grantor Trust) shall be

                                      -20-
<Page>

entitled to a "Continuation Payment" under this subsection 9-11. The amount of
the Continuation Payment shall be equal to the amount of the supplemental
pension that would have been payable to the participant (or surviving spouse)
had no payments been made to or for the participant's Grantor Trust under
subsections 9-1 and 9-2. Continuation Payments shall be made monthly, beginning
with the month in which there is no longer a sufficient balance in the
participant's Grantor Trust and ending with the month of the participant's (or
surviving spouse's) death. Payments under this subsection 9-11 shall be made by
the employers (in such proportions as Abbott shall designate) directly from
their general corporate assets. Appropriate adjustments to the Continuation
Payments shall be made in the event distributions have been made from a
participant's Grantor Trust for reasons other than benefit payments to the
participant or surviving spouse.

     9-12.   To the extent that Abbott is obligated to make a payment to a
participant under subsections 9-1, 9-2, 9-4, 9-5 or 9-10, Abbott shall have the
right to offset such payment with any funds in the participant's Excess Interest
Account or Excess Tax Account. In addition, any funds in a participant's Excess
Tax Account may be used by Abbott as a credit against any future Guaranteed Rate
Payment due to the participant under subsection 9-10.

     9-13.   For participants who are not Qualified Participants that received
any payment pursuant to subsection 9-4, in addition to the payments provided
under subsections 9-1 and 9-2, each participant shall also be entitled to a Tax
Gross Up payment for each year there is a balance in his or her Supplemental
Pension Account. The "Tax Gross Up" shall approximate: (a) the product of (i)
the participant's After-Tax Interest Accrual for the year (calculated using the
greater of the rate of return of the Grantor Trusts or the rate specified in
subsection 9-9), multiplied by (ii) the aggregate of the federal, state and
local tax rates (determined in accordance with subsection 9-14) plus (b) an

                                      -21-
<Page>

amount equal to the product of (i) any payment made pursuant to this subsection
9-13, multiplied by (ii) the aggregate tax rate determined under subparagraph
9-13(a)(ii) above, such that the participant is fully compensated for taxes on
payments made hereunder. Payment of the Tax Gross Up shall be made by the
employers (in such proportions as Abbott shall designate) directly from their
general corporate assets. The Tax Gross Up for a year shall be paid to the
participant as soon as practicable after the amount of the Tax Gross Up can be
ascertained by Abbott, but in no event later than the last day of the calendar
year following the calendar year to which the Tax Gross Up relates. No payments
shall be made under this subsection 9-13 for any year following the year of the
participant's death.

     9-14.   For purposes of this Supplemental Plan, a participant's federal
income tax rate shall be deemed to be the highest marginal rate of federal
individual income tax in effect in the calendar year in which a calculation
under this Supplemental Plan is to be made, and state and local tax rates shall
be deemed to be the highest marginal rates of individual income tax in effect in
the state and locality of the participant's residence in the calendar year for
which such a calculation is to be made, net of any federal tax benefits.

                                      -22-
<Page>

                              SUPPLEMENTAL BENEFIT
                                  GRANTOR TRUST

     THIS AGREEMENT, made this _________ day of ___________________, 19 __, by
and between ____________________________, (the "grantor"), and The Northern
Trust Company, located at Chicago, Illinois, as trustee (the "trustee"),

                                WITNESSETH THAT:

     WHEREAS, the grantor desires to establish and maintain a trust to hold
certain benefits received by the grantor under the Abbott Laboratories
Supplemental Pension Plan, as it may be amended from time to time.

     NOW, THEREFORE, IT IS AGREED as follows:

                                    ARTICLE I
                                  INTRODUCTION

     I-1.    NAME. This agreement and the trust hereby evidenced (the "trust")
may be referred to as the "_________________________ Supplemental Benefit
Grantor Trust."

     I-2.    THE TRUST FUND. The "trust fund" as at any date means all property
then held by the trustee under this agreement.

     I-3.    STATUS OF THE TRUST. The trust shall be irrevocable. The trust is
intended to constitute a grantor trust under Sections 671-678 of the Internal
Revenue Code, as amended, and shall be construed accordingly.

     I-4.    THE ADMINISTRATOR. Abbott Laboratories ("Abbott") shall act as the
"administrator" of the trust, and as such shall have certain powers, rights and
duties under this agreement as described below. Abbott will certify to the
trustee from time to time the person or persons authorized to act on behalf of
Abbott as the administrator. The trustee may rely on the latest certificate
received without further inquiry or verification.

     I-5.    ACCEPTANCE. The trustee accepts the duties and obligations of the
"trustee" hereunder, agrees to accept funds delivered to it by the grantor or
the administrator, and agrees to hold such funds (and any proceeds from the
investment of such funds) in trust in accordance with this agreement.

                                       -1-
<Page>

                                   ARTICLE II
                         DISTRIBUTION OF THE TRUST FUND

     II-1.   SUPPLEMENTAL PENSION ACCOUNT. The administrator shall maintain a
"supplemental pension account" under the trust. As of the end of each calendar
year, the administrator shall charge the account with all distributions made
from the account during that year; and credit the account with its share of
trust income and realized gains and charge the account with its share of trust
expenses and realized losses for the year.

     II-2.   DISTRIBUTIONS PRIOR TO THE GRANTOR'S DEATH. Principal and
accumulated income shall not be distributed from the trust prior to the
grantor's retirement or other termination of employment with Abbott or a
subsidiary of Abbott (the grantor's "settlement date"); provided that, each year
the administrator may direct the trustee to distribute to the grantor a portion
of the income of the trust fund for that year, with the balance of such income
to be accumulated in the trust. The administrator shall inform the trustee of
the grantor's settlement date. Thereafter, the trustee shall distribute the
amounts from time to time credited to the supplemental pension account to the
grantor, if then living, in the same manner, at the same time and over the same
period as the pension payable to the grantor under Abbott Laboratories Annuity
Retirement Plan.

     II-3.   DISTRIBUTIONS AFTER THE GRANTOR'S DEATH. The grantor, from time to
time may name any person or persons (who may be named contingently or
successively and who may be natural persons or fiduciaries) to whom the
principal of the trust fund and all accrued or undistributed income thereof
shall be distributed upon the grantor's death. The grantor may direct that such
amounts be distributed in a lump sum or, if the beneficiary is the grantor's
spouse (or a trust [a "Trust"] for which the grantor's spouse is the sole income
beneficiary), in the same manner, at the same time and over the same period as
the pension payable to the grantor's surviving spouse under the Abbott
Laboratories Annuity Retirement Plan. If the grantor directs the same method of
distribution as the pension payable to the surviving spouse under the Abbott
Laboratories Annuity Retirement Plan to the spouse as beneficiary, any amounts
remaining at the death of the spouse beneficiary shall be distributed in a lump
sum to the executor or administrator of the spouse beneficiary's estate. If the
grantor directs the same method of distribution as the pension payable to the
surviving spouse under the Abbott Laboratories Annuity Retirement Plan to a
Trust for which the grantor's spouse is the sole income beneficiary, any amounts
remaining at the death of the spouse shall be distributed in a lump sum to such
Trust. Despite the foregoing, if (i) the beneficiary is a Trust for which the
grantor's spouse is the sole income beneficiary, (ii) payments are being made
pursuant to this paragraph II-3 other than in a lump sum and (iii) income earned
by the trust fund for the year exceeds the amount of the annual installment
payment, then such Trust may elect to withdraw such excess income by written
notice to the trustee. Each designation shall revoke all prior designations,
shall be in writing and shall be effective only when filed by the grantor with
the administrator during the grantor's lifetime. If the grantor fails to direct
a method of distribution, the distribution shall be made in a lump sum. If the
grantor fails to designate a beneficiary as provided above, then on the
grantor's death, the trustee shall distribute the balance of the trust fund in a
lump sum to the executor or administrator of the grantor's estate."

                                       -2-
<Page>

     II-4.   FACILITY OF PAYMENT. When a person entitled to a distribution
hereunder is under legal disability, or, in the trustee's opinion, is in any way
incapacitated so as to be unable to manage his or her financial affairs, the
trustee may make such distribution to such person's legal representative, or to
a relative or friend of such person for such person's benefit. Any distribution
made in accordance with the preceding sentence shall be a full and complete
discharge of any liability for such distribution hereunder.

     II-5.   PERPETUITIES. Notwithstanding any other provisions of this
agreement, on the day next preceding the end of 21 years after the death of the
last to die of the grantor and the grantor's descendants living on the date of
this instrument, the trustee shall immediately distribute any remaining balance
in the trust to the beneficiaries then entitled to distributions hereunder.

                                   ARTICLE III
                          MANAGEMENT OF THE TRUST FUND

     III-1.  GENERAL POWERS. The trustee shall, with respect to the trust fund,
have the following powers, rights and duties in addition to those provided
elsewhere in this agreement or by law:

     (a)     Subject to the limitations of subparagraph (b) next below, to sell,
             contract to sell, purchase, grant or exercise options to purchase,
             and otherwise deal with all assets of the trust fund, in such way,
             for such considerations, and on such terms and conditions as the
             trustee decides.

     (b)     To invest and reinvest the trust fund, without distinction between
             principal and income, in obligations of the United States
             Government and its agencies or which are backed by the full faith
             and credit of the United States Government and in any mutual funds,
             common trust funds or collective investment funds which invest
             solely in such obligations, provided that to the extent practicable
             no more than Ten Thousand Dollars ($10,000) shall be invested in
             such mutual funds, common trust funds or collective investment
             funds at any time; and any such investment made or retained by the
             trustee in good faith shall be proper despite any resulting risk or
             lack of diversification or marketability.

     (c)     To deposit cash in any depositary (including the banking department
             of the bank acting as trustee) without liability for interest, in
             amounts not in excess of those reasonably necessary to make
             distributions from the trust.

     (d)     To borrow from anyone, with the administrator's approval, such sum
             or sum from time to time as the trustee considers desirable to
             carry out this trust, and to mortgage or pledge all or part of the
             trust fund as security.

                                       -3-
<Page>

     (e)     To retain any funds or property subject to any dispute without
             liability for interest and to decline to make payment or delivery
             thereof until final adjudication by a court of competent
             jurisdiction or until an appropriate release is obtained.

     (f)     To begin, maintain or defend any litigation necessary in connection
             with the administration of this trust, except that the trustee
             shall not be obliged or required to do so unless indemnified to the
             trustee's satisfaction.

     (g)     To compromise, contest, settle or abandon claims or demands.

     (h)     To give proxies to vote stocks and other voting securities, to join
             in or oppose (alone or jointly with others) voting trusts, mergers,
             consolidations, foreclosures, reorganizations, liquidations, or
             other changes in the financial structure of any corporation, and to
             exercise or sell stock subscription or conversion rights.

     (i)     To hold securities or other property in the name of a nominee, in a
             depositary, or in any other way, with or without disclosing the
             trust relationship.

     (j)     To divide or distribute the trust fund in undivided interests or
             wholly or partly in kind.

     (k)     To pay any tax imposed on or with respect to the trust; to defer
             making payment of any such tax if it is indemnified to its
             satisfaction in the premises; and to require before making any
             payment such release or other document from any lawful taxing
             authority and such indemnity from the intended payee as the trustee
             considers necessary for its protection.

     (l)     To deal without restriction with the legal representative of the
             grantor's estate or the trustee or other legal representative of
             any trust created by the grantor or a trust or estate in which a
             beneficiary has an interest, even though the trustee, individually,
             shall be acting in such other capacity, without liability for any
             loss that may result.

     (m)     Upon the prior written consent of the administrator, to appoint or
             remove by written instrument any bank or corporation qualified to
             act as successor trustee, wherever located, as special trustee as
             to part or all of the trust fund, including property as to which
             the trustee does not act, and such special trustee, except as
             specifically limited or provided by this or the appointing
             instrument, shall have all of the rights, titles, powers, duties,
             discretions and immunities of the trustee, without liability for
             any action taken or omitted to be taken under this or the
             appointing instrument.

     (n)     To appoint or remove by written instrument any bank, wherever
             located, as custodian of part or all of the trust fund, and each
             such custodian shall have such rights, powers, duties and
             discretions as are delegated to it by the trustee.

                                       -4-
<Page>

     (o)     To employ agents, attorneys, accountants or other persons, and to
             delegate to them such powers as the trustee considers desirable,
             and the trustee shall be protected in acting or refraining from
             acting on the advice of persons so employed without court action.

     (p)     To perform any and all other acts which in the trustee's judgment
             are appropriate for the proper management, investment and
             distribution of the trust fund.

     III-2.  PRINCIPAL AND INCOME. Any income earned on the trust fund which is
not distributed as provided in Article II shall be accumulated and from time to
time added to the principal of the trust. The grantor's interest in the trust
shall include all assets or other property held by the trustee hereunder,
including principal and accumulated income.

     III-3.  STATEMENTS. The trustee shall prepare and deliver monthly to the
administrator and annually to the grantor, if then living, otherwise to each
beneficiary then entitled to distributions under this agreement, a statement (or
series of statements) setting forth (or which taken together set forth) all
investments, receipts, disbursements and other transactions effected by the
trustee during the reporting period; and showing the trust fund and the value
thereof at the end of such period.

     III-4.  COMPENSATION AND EXPENSES. All reasonable costs, charges and
expenses incurred in the administration of this trust, including compensation to
the trustee, any compensation to agents, attorneys, accountants and other
persons employed by the trustee, and expenses incurred in connection with the
sale, investment and reinvestment of the trust fund shall be paid from the trust
fund.

                                   ARTICLE IV
                               GENERAL PROVISIONS

     IV-1.   INTERESTS NOT TRANSFERABLE. The interests of the grantor or other
persons entitled to distributions hereunder are not subject to their debts or
other obligations and may not be voluntarily or involuntarily sold, transferred,
alienated, assigned or encumbered.

     IV-2.   DISAGREEMENTS AS TO ACTS. If there is a disagreement between the
trustee and anyone as to any act or transaction reported in any accounting, the
trustee shall have the right to a settlement of its account by any court.

     IV-3.   TRUSTEE'S OBLIGATIONS. No power, duty or responsibility is imposed
on the trustee except as set forth in this agreement. The trustee is not obliged
to determine whether funds delivered to or distributions from the trust are
proper under the trust, or whether any tax is due or payable as a result of any
such delivery or distribution. The trustee shall be protected in making any
distribution from the trust as directed pursuant to Article II without inquiring
as to whether the distributee is

                                       -5-
<Page>

entitled thereto; the trustee shall not be liable for any distribution made in
good faith without written notice or knowledge that the distribution is not
proper under the terms of this agreement; and the trustee shall not be liable
for any action taken because of the specific direction of the administrator.

     IV-4.   GOOD FAITH ACTIONS. The trustee's exercise or non-exercise of its
powers and discretions in good faith shall be conclusive on all persons. No one
shall be obliged to see to the application of any money paid or property
delivered to the trustee. The certificate of the trustee that it is acting
according to this agreement will fully protect all persons dealing with the
trustee.

     IV-5.   WAIVER OF NOTICE. Any notice required under this agreement may be
waived by the person entitled to such notice.

     IV-6.   CONTROLLING LAW. The laws of the State of Illinois shall govern the
interpretation and validity of the provisions of this agreement and all
questions relating to the management, administration, investment and
distribution of the trust hereby created.

     IV-7.   SUCCESSORS. This agreement shall be binding on all persons entitled
to distributions hereunder and their respective heirs and legal representatives,
and on the trustee and its successors.

                                    ARTICLE V
                               CHANGES IN TRUSTEE

     V-1.    RESIGNATION OR REMOVAL OF TRUSTEE. The trustee may resign at any
time by giving thirty days' advance notice to the administrator and the grantor.
The administrator may remove a trustee by written notice to the trustee and the
grantor.

     V-2.    APPOINTMENT OF SUCCESSOR TRUSTEE. The administrator shall fill any
vacancy in the office of trustee as soon as practicable by written notice to the
successor trustee; and shall give prompt written notice thereof to the grantor,
if then living, otherwise to each beneficiary then entitled to payments or
distributions under this agreement. A successor trustee shall be a bank (as
defined in Section 581 of the Internal Revenue Code, as amended).

     V-3.    DUTIES OF RESIGNING OR REMOVED TRUSTEE AND OF SUCCESSOR TRUSTEE. A
trustee that resigns or is removed shall furnish promptly to the administrator
and the successor trustee an account of its administration of the trust from the
date of its last account. Each successor trustee shall succeed to the title to
the trust fund vested in its predecessor without the signing or filing of any
instrument, but each predecessor trustee shall execute all documents and do all
acts necessary to vest such title of record in the successor trustee. Each
successor trustee shall have all the powers conferred by this agreement as if
originally named trustee. No successor trustee shall be personally liable for
any act or failure to act of a predecessor trustee. With the approval of the
administrator, a successor trustee may accept the account furnished and the
property delivered by a predecessor trustee without incurring any liability for
so doing, and such acceptance will be complete discharge to the predecessor
trustee.

                                       -6-
<Page>

                                   ARTICLE VI
                            AMENDMENT AND TERMINATION

     VI-1.   AMENDMENT. With the consent of the administrator, this trust may be
amended from time to time by the grantor, if then living, otherwise by a
majority of the beneficiaries then entitled to payments or distributions
hereunder, except as follows:

     (a)     The duties and liabilities of the trustee cannot be changed
             substantially without its consent.

     (b)     This trust may not be amended so as to make the trust revocable.

     VI-2.   TERMINATION. This trust shall not terminate, and all rights,
titles, powers, duties, discretions and immunities imposed on or reserved to the
trustee, the administrator, the grantor and the beneficiaries shall continue in
effect, until all assets of the trust have been distributed by the trustee as
provided in Article II.

                                      * * *

     IN WITNESS WHEREOF, the grantor and the trustee have executed this
agreement as of the day and year first above written.

                                   ---------------------------------
                                               Grantor

                                   The Northern Trust Company, as Trustee

                                   By
                                       -----------------------------

                                   Its
                                       -----------------------------

                                       -7-<Page>

                                                                   EXHIBIT 10.5

                                      1986
                               ABBOTT LABORATORIES
                            MANAGEMENT INCENTIVE PLAN
                   (AS AMENDED AND RESTATED ON JUNE 20, 2003)

                                    SECTION 1

                                  INTRODUCTION

          1.1     BACKGROUND AND PURPOSES. This 1986 ABBOTT LABORATORIES
MANAGEMENT INCENTIVE PLAN (the "Plan") is a successor Plan to the 1961, 1971 and
1981 Management Incentive Plans (the "Predecessor Plans"). This Plan is being
established by ABBOTT LABORATORIES ("Abbott") for the following purposes:

                  (a)    To provide greater incentive for participants in the
                         Plan to attain and maintain the highest standards of
                         managerial performance by rewarding them for services
                         rendered with compensation, in addition to their base
                         salaries, in proportion to the success of Abbott and to
                         the participants' respective contribution to such
                         success; and

                  (b)    To attract and retain in the employ of Abbott and its
                         subsidiaries persons of outstanding competence.

          1.2     EFFECTIVE DATE AND FISCAL YEAR. The Plan shall be effective as
of January 1, 1986. The term "fiscal year," as used in this Plan, means the
fiscal period from time to time employed by Abbott for the purpose of reporting
earnings to shareholders.

          1.3     ADMINISTRATION. The Plan will be administered by the
Compensation Committee (the "Committee") appointed by the Board of Directors of
Abbott (the "Board of Directors").

                                    SECTION 2

                          ELIGIBILITY AND PARTICIPATION

          2.1     PERSONS ELIGIBLE FOR PARTICIPATION. Participation in the Plan
will be limited to those Officers and managerial employees of Abbott and its
subsidiaries who, from time to time, shall be selected as participants by the
Committee.

          2.2     PARTICIPANTS. The term "participant," as used in the Plan,
shall include both active participants and inactive participants.

          2.3     ACTIVE PARTICIPANTS. For each fiscal year, there shall be a
group of active participants which, except as provided below, shall not exceed
forty-five

                                        1
<Page>

persons and shall consist of those persons eligible for participation who shall
have been designated as active participants and notified of that fact by the
Committee at any time before or during the fiscal year. If, as a result of the
growth of Abbott and its subsidiaries or changes in Abbott's organization, the
Board of Directors deems it appropriate, the Board of Directors may, in its
discretion, from time to time, increase the number of persons who may be
designated as active participants for any fiscal year beyond the limit of
forty-five persons provided for above. Selection as an active participant for
any fiscal year shall not confer upon any person a right to be an active
participant in any subsequent fiscal year, nor shall it confer upon him the
right to receive any allocation under the Plan, other than amounts allocated to
him by the Committee pursuant to the Plan, and all such allocations shall be
subject to all of the terms and conditions of the Plan.

          2.4     INACTIVE PARTICIPANTS. Inactive participants shall consist of
those persons, including beneficiaries of deceased participants, if any, for
whom an allocation shall have been made for a prior fiscal year under this Plan
or a Predecessor Plan, the payment of which was deferred and remains unpaid.
Status as an inactive participant shall not preclude a person from also being an
active participant during any fiscal year.

                                    SECTION 3

                         MANAGEMENT INCENTIVE PLAN FUND

          3.1     BASE FOR MANAGEMENT INCENTIVE PLAN FUND. The "base earnings"
for determining whether any portion of consolidated net income for any fiscal
year may be allocated to the Management Incentive Plan Fund for such year shall
be that amount of consolidated net income (as defined in subsection 3.2) which
is equal to 15 percent of the Abbott Common Shareholder's Equity for such fiscal
year. For this purpose, "Abbott Common Shareholders' Equity" for any fiscal year
shall mean the Shareholders' Investment, as reflected in the consolidated
balance sheet of Abbott as of the close of the next preceding fiscal year, plus
or minus such adjustments thereof as may be determined by the Committee in order
to reflect:

                  (a)    The existence, issuance, sale, exchange, conversion or
                         retirement of any securities, other than common shares,
                         of Abbott (whether involving preferred stock, debt,
                         convertible preferred stock or convertible debt
                         securities); and

                  (b)    The issuance or retirement of any common shares or any
                         changes in accounting methods or period adopted by
                         Abbott since the close of such next preceding fiscal
                         year.

                  Any adjustments to be made in accordance with (a) and (b)
above in determining Abbott Common Shareholders' Equity for any fiscal year
shall be determined by the Committee after consultation with Abbott's
independent auditors, and

                                        2
<Page>

any determination made by the Committee after such consultation shall be
conclusive upon all persons.

          3.2     CONSOLIDATED NET INCOME. For the purposes of this Plan, for
any fiscal year or period, the "consolidated net income" shall be the
consolidated net income of Abbott and its subsidiaries, prepared in accordance
with generally accepted accounting principles, consistently applied, after
provision for any interest accrued with respect to such period on account of
deferred payments under this Plan or a Predecessor Plan, but before allowances
for any amount to be allocated to the Management Incentive Plan Fund, both net
of applicable income taxes, and after such adjustments for the following, as may
be determined by the Committee after consultation with Abbott's independent
auditors (all net of applicable income taxes):

                  (a)    The exclusion of any charges for amortization or
                         goodwill arising out of acquisitions made for
                         securities which, as a result of adjustments made in
                         determining Abbott Common Shareholders' Equity pursuant
                         to subsection 3.1, are treated as common share
                         equivalents; and

                  (b)    The exclusion of any interest on debt securities which
                         are convertible into common shares of Abbott and which
                         shall have been considered as common share equivalents
                         in determining Abbott Common Shareholders' Equity
                         pursuant to subsection 3.1 hereof; and

                  (c)    The deduction of any dividend requirement for preferred
                         shares which has not been considered as common share
                         equivalents in determining Common Shareholders' Equity
                         pursuant to subsection 3.1 hereof.

                  In the sole discretion of the Committee there shall also be
excluded in the calculation of "consolidated net income" unusual gains and
losses and the tax effects thereof, changes in generally accepted accounting
principles and the tax effects thereof and extraordinary gains and losses.

          3.3     DETERMINATION OF MANAGEMENT INCENTIVE PLAN AMOUNT FOR ANY
YEAR. For each fiscal year that consolidated net income exceeds base earnings,
and as soon as practicable after ascertainment of that fact, the Committee shall
determine a tentative amount as the Management Incentive Plan Amount for that
year, which tentative amount shall not exceed the lesser of:

                  (a)    an amount which, when treated as an expense currently
                         deductible for income tax purposes in such year, would
                         cause a 5 percent reduction in such year's excess of
                         consolidated net income over the base earnings for such
                         year; and

                                        3
<Page>

                  (b)    an amount which, when treated as an expense currently
                         deductible for income tax purposes in such year, would
                         cause a 1-1/2 percent reduction in such year's
                         consolidated net income; and

                  (c)    an amount which equals 200 percent of the aggregate
                         base salaries of all active participants for such year.

                  For purposes of the Plan "base salary" means the amount of
salary paid to each active participant by Abbott and its subsidiaries for such
year plus the includible portion (as described below) of any "Eligible
Restricted Stock Award," as defined in Section 5-2 of the Abbott Laboratories
Supplemental Pension Plan and does not include bonuses, other awards or any
other compensation of any kind. The includible portion of a participant's
Eligible Restricted Stock Award shall be the portion of the participant's
Eligible Restricted Stock Award that is included in the participant's final
earnings under the Abbott Laboratories Supplemental Pension Plan for such year.
Following determination of such tentative Management Incentive Plan Amount, the
Committee shall report in writing the amount of such tentative amount to the
Board of Directors. At the meeting of the Board of Directors coincident with or
next following receipt by it of the Committee's determination, the Board of
Directors shall have the power to approve or reduce, but not to increase, the
tentative amount reported to it by the Committee. The amount approved by the
Board of Directors shall be the Management Incentive Plan Amount for such year.

          3.4     THE MANAGEMENT INCENTIVE PLAN FUND. The Management Incentive
Plan Fund at any time shall consist of an amount equal to the aggregate of the
Management Incentive Plan Amounts established pursuant to subsection 3.3 of this
Plan for all fiscal years during which this Plan shall have been operative, plus
the amounts established as Management Incentive Plan Amounts for any prior
fiscal year pursuant to a Predecessor Plan, reduced by an amount equal to the
aggregate of the amounts of awards which shall have been allocated to
participants in accordance with this Plan or a Predecessor Plan, and awards, or
any other compensation of any kind. Following determination of such tentative
Management Incentive Plan Amount, the Committee shall report in writing the
amount of such tentative amount to the Board of Directors. At the meeting of the
Board of Directors coincident with or next following receipt by it of the
Committee's determination, the Board of Directors shall have the power to
approve or reduce, but not to increase, the tentative amount reported to it by
the Committee. The amount approved by the Board of Directors shall be the
Management Incentive Plan Amount for such year.

                                    SECTION 4

                     ALLOCATION OF MANAGEMENT INCENTIVE FUND

          4.1     ANNUAL ALLOCATION OF MANAGEMENT INCENTIVE FUND. As soon as
practicable after the close of each fiscal year, part or all of the amount then
in the Management Incentive Plan Fund (including the Management Incentive Plan

                                        4
<Page>

Amount for such fiscal year) will be allocated by the Committee among active
participants in the Plan for such fiscal year, having due regard for the
purposes for which the Plan was established, in the following manner and order:

                  (a)    First, if the Chairman of the Board of Abbott shall be
                         an active participant for such year, the members of the
                         Committee, other than the Chairman of the Board, shall
                         determine the amount, if any, to be allocated to the
                         Chairman of the Board from such Fund for such year; and

                  (b)    Next, all or a part of the balance of such Fund may be
                         allocated among the active participants (other than the
                         Chairman of the Board) for such year, in such amounts
                         and proportions as the Committee shall determine
                         provided, however, that the amount allocated to any
                         active participant for any year shall not exceed 200
                         percent of such participant's base salary for that
                         year.

          4.2     COMMITTEE'S DISCRETION IN ALLOCATIONS. In making any
allocations in accordance with subsection 4.1 for any year, the discretion of
the Committee shall be absolute, and no active participants for any year, by
reason of their designation as such, shall be entitled to any particular amounts
or any amount whatsoever.

                                    SECTION 5

                  PAYMENT OF AMOUNTS ALLOCATED TO PARTICIPANTS

          5.1     TIME OF PAYMENT. For fiscal years beginning after December 31,
1988, a participant shall direct the payment or deferral of an allocation made
to him pursuant to subsection 4.1 (subject to such conditions relating to the
right of the participant to receive Payment of such amount as established by the
Committee) by one or more of the following methods:

                  (a)    current payment in cash to the participant;

                  (b)    current payment of a portion of the allocation in cash
                         for the participant directly to a "Grantor Trust"
                         established by the participant, provided such trust is
                         in a form which the Committee determines is
                         substantially similar to the trust attached to this
                         Plan as Exhibit A; and current payment of the balance
                         of the allocation in cash directly to the participant,
                         provided that the payment made directly to the
                         participant shall approximate the aggregate federal,
                         state and local individual income taxes (determined in
                         accordance with subsection 6.7) attributable to the
                         allocation paid pursuant to this paragraph (b); or

                                        5
<Page>

                  (c)    deferral of payment until such time and in such manner
                         as determined in accordance with subsection 5.11.

          A participant shall make the preceding direction within 30 days of the
date he is notified of his eligibility to participate in the Plan. A participant
may change such direction with respect to any future allocation, provided that
the change is made prior to the beginning of the fiscal year to which such
allocation relates. Payment of a participant's allocation for the 1988 fiscal
year and of any allocations deferred under the Plan prior to such year shall be
made in accordance with the provisions of either or both of paragraphs (a) and
(b) above. The Committee shall establish and maintain a Trust Account in
accordance with subsection 5.2 and for purposes of subsection 5.4, shall treat
such payment as if it were an allocation made for that fiscal year.

          5.2     SEPARATE ACCOUNTS. The Committee will maintain two separate
Accounts, a "Deferred Account" and a "Trust Account," in the name of each
participant. The Deferred Account shall be comprised of any allocations the
payment of which is deferred pursuant to subsection 5.1(c) and any adjustments
made pursuant to subsection 5.3. The Trust Account shall be comprised of any
allocations paid in cash to a participant (including amounts paid to a
participant's Grantor Trust) pursuant to subsection 5.1(b) and any adjustments
made pursuant to subsection 5.4.

          5.3     ADJUSTMENT OF DEFERRED ACCOUNTS. As of the end of each fiscal
year, the Committee shall adjust each participant's Deferred Account as follows:

                  (a)    FIRST, charge an amount equal to any payments made to
                         the participant during that year pursuant to
                         subsections 5.11 or 5.12;

                  (b)    NEXT, credit an amount equal to the allocation for that
                         year that is deferred pursuant to subsection 5.1(c);
                         and

                  (c)    FINALLY, credit an amount equal to the Interest Accrual
                         earned for that year pursuant to subsection 5.5.

          5.4     ADJUSTMENT OF TRUST ACCOUNTS. As of the end of each fiscal
year, the Committee shall adjust each participant's Trust Account as follows:

                  (a)    FIRST, charge an amount equal to the product of (i) any
                         payments made to the participant during that year from
                         the participant's Grantor Trust (other than
                         distributions of trust earnings in excess of the Net
                         Interest Accrual authorized by the administrator of the
                         trust to provide for the Tax Gross Up under subsection
                         6.6); multiplied by (ii) a fraction, the numerator of
                         which is the balance in the participant's Trust Account
                         as of the end of the prior fiscal year and the
                         denominator of which is the balance of the
                         participant's

                                        6
<Page>

                         Grantor Trust (as determined by the administrator of
                         the trust) as of that same date;

                  (b)    NEXT, credit an amount equal to the allocation for that
                         year that is paid to the Participant (including the
                         amount paid to the participant's Grantor Trust)
                         pursuant to subsection 5.l(b); and

                  (c)    FINALLY, credit an amount equal to the Interest Accrual
                         earned for that Year pursuant to subsection 5.5.

          5.5     INTEREST ACCRUALS ON ACCOUNTS. As of the end of each fiscal
year, a participant's Deferred Account and Trust Account shall be credited with
interest equal to: (a) the average of the prime rates of interest charged by the
two largest banks located in the City of Chicago on loans made by them as of
January 1 and the end of each month of the fiscal year; plus (b) two hundred
twenty-five (225) basis points. Such interest shall be credited on the
conditions established by the Committee, provided that any allocation of an
award from the Management Incentive Plan Fund shall be considered to have been
made and credited to a participant's Deferred Account and Trust Account as of
the first day of the fiscal year in which such award is made regardless of the
date upon which the Committee actually makes the determination to award such
allocation.

          5.6     GUARANTEED RATE PAYMENTS. In addition to any allocation made
to a participant for any fiscal year pursuant to subsection 4.1 which is paid or
deferred pursuant to subsection 5.1, Abbott shall also make a payment to a
participant's Grantor Trust (a "Guaranteed Rate Payment") for any year in which
the net earnings of such trust do not equal or exceed the participant's Net
Interest Accrual for that year. A participant's "Net Interest Accrual" for a
year is an amount equal to: (a) the Interest Accrual credited to the
participant's Trust Account for that year; less (b) the product of (i) the
amount of such Interest Accrual, multiplied by (ii) the aggregate of the
federal, state and local individual income tax rates (determined in accordance
with subsection 6.7). The Guaranteed Rate Payment shall equal the difference
between the participant's Net Interest Accrual and the net earnings of the
participant's Grantor Trust for the year, and shall be paid within 90 days of
the end of the fiscal year.

          5.7     DESIGNATION OF BENEFICIARIES. Subject to the conditions and
limitations set forth below, each participant, and after a participant's death,
each primary beneficiary designated by a participant in accordance with the
provisions of this subsection 5.7, shall have the right from time to time to
designate a primary beneficiary or beneficiaries and, successive or contingent
beneficiary or beneficiaries to receive unpaid amounts from the participant's
Deferred Account under the Plan and the Predecessor Plans. Beneficiaries may be
a natural person or persons or a fiduciary, such as a trustee of a trust or the
legal representative of an estate. Any such designation shall take effect upon
the death of the participant or such beneficiary, as the case may be, or in the
case of any fiduciary beneficiary, upon the termination of all of its duties
(other than the duty to dispose of the right to receive amounts remaining to be
paid under the Plan or

                                        7
<Page>

a Predecessor Plan). The conditions and limitations relating to the designation
of beneficiaries are as follows:

                  (a)    A nonfiduciary beneficiary shall have the right to
                         designate a further beneficiary or beneficiaries only
                         if the original participant or the next preceding
                         primary beneficiary, as the case may be, shall have
                         expressly so provided in writing; and

                  (b)    A fiduciary beneficiary shall designate as a further
                         beneficiary or beneficiaries only those persons or
                         other fiduciaries who are entitled to receive the
                         amounts payable from the participant's account under
                         the trust or estate of which it is a fiduciary.

                  Any beneficiary designation or grant of any power to any
beneficiary under this subsection may be exercised only by an instrument in
writing, executed by the person making the designation or granting such power
and filed with the Secretary of Abbott during such person's lifetime or prior to
the termination of a fiduciary's duties. If a deceased participant or a deceased
nonfiduciary beneficiary who had the right to designate a beneficiary as
provided above dies without having designated a further beneficiary, or if no
beneficiary designated as provided above is living or qualified and acting, the
Committee, in its discretion, may direct distribution of the amount remaining
from time to time to either:

                         (i)    any one or more or all of the next of kin
                                (including the surviving spouse) of the
                                participant or the deceased beneficiary, as the
                                case may be, and in such proportions as the
                                Committee determines; or

                         (ii)   the legal representative of the estate of the
                                deceased participant or deceased beneficiary as
                                the case may be.

          5.8     STATUS OF BENEFICIARIES. Following a participant's death, the
participant's beneficiary or beneficiaries will be considered and treated as an
inactive participant for all purposes of this Plan.

          5.9     NON-ASSIGNABILITY AND FACILITY OF PAYMENT. Amounts payable to
participants and their beneficiaries under the Plan are not in any way subject
to their debts and other obligations, and may not be voluntarily or
involuntarily sold, transferred or assigned; provided that the preceding
provisions of this section shall not be construed as restricting in any way a
designation right granted to a beneficiary pursuant to the terms of subsection
5.7. When a participant or the beneficiary of a participant is under legal
disability, or in the Committee's opinion is in any way incapacitated so as to
be unable to manage his or her financial affairs, the Committee may

                                        8
<Page>

direct that payments shall be made to the participant's or beneficiary's legal
representative, or to a relative or friend of the participant or beneficiary for
the benefit of the participant or beneficiary, or the Committee may direct the
payment or distribution for the benefit of the participant or beneficiary in any
manner that the Committee determines.

          5.10    PAYER OF AMOUNTS ALLOCATED TO PARTICIPANTS. Any amount
allocated to a participant in the Plan and any interest credited thereto will be
paid by the employer (or such employer's successor) by whom the participant was
employed during the fiscal year for which any amount was allocated, and for that
purpose, if a participant shall have been employed by two or more employers
during any fiscal year the amount allocated under this Plan for that year shall
be an obligation of each of the respective employers in proportion to the
respective amounts of base salary paid by each of them in that fiscal year.

          5.11    MANNER OF PAYMENT. Subject to subsection 5.12, a participant
shall elect the timing and manner of payment of his Deferred Account at the time
of his deferral election under subsection 5.l. The participant may select a
payment method from among alternative payment methods established by the
Committee.

          5.12    PAYMENTS UPON TERMINATION FOLLOWING CHANGE IN CONTROL.
Notwithstanding any other provisions of this Plan or the Predecessor Plans, or
the provisions of any award made under this Plan or the Predecessor Plans: if
the employment of any participant with Abbott and its subsidiaries should
terminate for any reason within five (5) years after the date of a Change in
Control, the aggregate unpaid balance of all awards previously made to such
participant under this Plan and all Predecessor Plans, plus any unpaid interest
credited thereon, shall be paid to the participant in a lump sum within thirty
(30) days following the date of such termination.

          5.13    CHANGE IN CONTROL. A "Change in Control" shall be deemed to
have occurred on the earliest of the following dates:

                  (a)    the date any Person is or becomes the Beneficial Owner,
                         directly or indirectly, of securities of Abbott (not
                         including in the securities beneficially owned by such
                         Person any securities acquired directly from Abbott or
                         its Affiliates) representing 20% or more of the
                         combined voting power of Abbott's then outstanding
                         securities, excluding any Person who becomes such a
                         Beneficial Owner in connection with a transaction
                         described in clause (i) of paragraph (c) below; or

                  (b)    the date the following individuals cease for any reason
                         to constitute a majority of the number of directors
                         then serving: individuals who, on the date hereof,
                         constitute the Board of Directors and any new director
                         (other than a director whose initial assumption of
                         office is in connection

                                        9
<Page>

                         with an actual or threatened election contest,
                         including but not limited to a consent solicitation,
                         relating to the election of directors of Abbott) whose
                         appointment or election by the Board of Directors or
                         nomination for election by Abbott's shareholders was
                         approved or recommended by a vote of at least
                         two-thirds (2/3) of the directors then still in office
                         who either were directors on the date hereof or whose
                         appointment, election or nomination for election was
                         previously so approved or recommended; or

                  (c)    the date on which there is consummated a merger or
                         consolidation of Abbott or any direct or indirect
                         subsidiary of Abbott with any other corporation or
                         other entity, other than (i) a merger or consolidation
                         (A) immediately following which the individuals who
                         comprise the Board of Directors immediately prior
                         thereto constitute at least a majority of the Board of
                         Directors of Abbott, the entity surviving such merger
                         or consolidation or, if Abbott or the entity surviving
                         such merger or consolidation is then a subsidiary, the
                         ultimate parent thereof and (B) which results in the
                         voting securities of Abbott outstanding immediately
                         prior to such merger or consolidation continuing to
                         represent (either by remaining outstanding or by being
                         converted into voting securities of the surviving
                         entity or any parent thereof), in combination with the
                         ownership of any trustee or other fiduciary holding
                         securities under an employee benefit plan of Abbott or
                         any subsidiary of Abbott, at least 50% of the combined
                         voting power of the securities of Abbott or such
                         surviving entity or any parent thereof outstanding
                         immediately after such merger or consolidation, or (ii)
                         a merger or consolidation effected to implement a
                         recapitalization of Abbott (or similar transaction) in
                         which no Person is or becomes the Beneficial Owner,
                         directly or indirectly, of securities of Abbott (not
                         including in the securities Beneficially Owned by such
                         Person any securities acquired directly from Abbott or
                         its Affiliates) representing 20% or more of the
                         combined voting power of Abbott's then outstanding
                         securities; or

                  (d)    the date the shareholders of Abbott approve a plan of
                         complete liquidation or dissolution of Abbott or there
                         is consummated an agreement for the sale or disposition
                         by Abbott of all or substantially all of Abbott's
                         assets, other than a sale or disposition by Abbott of
                         all or substantially all of Abbott's assets to an
                         entity, at least 50% of the combined voting power of
                         the voting securities of which are owned by
                         shareholders of Abbott, in combination with

                                       10
<Page>

                         the ownership of any trustee or other fiduciary holding
                         securities under an employee benefit plan of Abbott or
                         any subsidiary of Abbott, in substantially the same
                         proportions as their ownership of Abbott immediately
                         prior to such sale.

                         Notwithstanding the foregoing, a "Change in Control"
                         shall not be deemed to have occurred by virtue of the
                         consummation of any transaction or series of integrated
                         transactions immediately following which the record
                         holders of the common stock of Abbott immediately prior
                         to such transaction or series of transactions continue
                         to have substantially the same proportionate ownership
                         in an entity which owns all or substantially all of the
                         assets of Abbott immediately following such transaction
                         or series of transactions.

                         For purposes of this Plan: "Affiliate" shall have the
                         meaning set forth in Rule 12b-2 promulgated under
                         Section 12 of the Exchange Act; "Beneficial Owner"
                         shall have the meaning set forth in Rule 13d-3 under
                         the Exchange Act; "Exchange Act" shall mean the
                         Securities Exchange Act of 1934, as amended from time
                         to time; and "Person" shall have the meaning given in
                         Section 3(a)(9) of the Exchange Act, as modified and
                         used in Sections 13(d) and 14(d) thereof, except that
                         such term shall not include (i) Abbott or any of its
                         subsidiaries, (ii) a trustee or other fiduciary holding
                         securities under an employee benefit plan of Abbott or
                         any of its Affiliates, (iii) an underwriter temporarily
                         holding securities pursuant to an offering of such
                         securities, or (iv) a corporation owned, directly or
                         indirectly, by the shareholders of Abbott in
                         substantially the same proportions as their ownership
                         of stock of Abbott.

          5.14    POTENTIAL CHANGE IN CONTROL. A "Potential Change in Control"
shall exist during any period in which the circumstances described in paragraphs
(a), (b), (c) or (d), below, exist (provided, however, that a Potential Change
in Control shall cease to exist not later than the occurrence of a Change in
Control):

                  (a)    Abbott enters into an agreement, the consummation of
                         which would result in the occurrence of a Change in
                         Control, provided that a Potential Change in Control
                         described in this paragraph (a) shall cease to exist
                         upon the expiration or other termination of all such
                         agreements.

                  (b)    Any Person (without regard to the exclusions set forth
                         in subsections (i) through (iv) of such definition)
                         publicly

                                       11
<Page>

                         announces an intention to take or to consider taking
                         actions the consummation of which would constitute a
                         Change in Control; provided that a Potential Change in
                         Control described in this paragraph (b) shall cease to
                         exist upon the withdrawal of such intention, or upon a
                         determination by the Board of Directors that there is
                         no reasonable chance that such actions would be
                         consummated.

                  (c)    Any Person becomes the Beneficial Owner, directly or
                         indirectly, of securities of Abbott representing 10% or
                         more of either the then outstanding shares of common
                         stock of Abbott or the combined voting power of
                         Abbott's then outstanding securities (not including in
                         the securities beneficially owned by such Person any
                         securities acquired directly from Abbott or its
                         Affiliates).

                  (d)    The Board of Directors adopts a resolution to the
                         effect that, for purposes of this Agreement, a
                         Potential Change in Control exists; provided that a
                         Potential Change in Control described in this paragraph
                         (d) shall cease to exist upon a determination by the
                         Board of Directors that the reasons that gave rise to
                         the resolution providing for the existence of a
                         Potential Change in Control have expired or no longer
                         exist.

          5.15    PROHIBITION AGAINST AMENDMENT. The provisions of subsections
5.12, 5.13, 5.14 and this subsection 5.15 may not be amended or deleted, nor
superseded by any other provision of this Plan, (i) during the pendency of a
Potential Change in Control and (ii) during the period beginning on the date of
a Change in Control and ending on the date five (5) years following such Change
in Control.

                                    SECTION 6

                                  MISCELLANEOUS

          6.1     RULES. The Committee may establish such rules and regulations
as it may consider necessary or desirable for the effective and efficient
administration of the Plan.

          6.2     MANNER OF ACTION BY COMMITTEE. A majority of the members of
the Committee qualified to act on any particular question may act by meeting or
by writing signed without meeting, and may execute any instrument or document
required or delegate to one of its members authority to sign. The Committee from
time to time may delegate the performance of certain ministerial functions in
connection with the Plan, such as the keeping of records, to such person or
persons as the Committee may select. Except as otherwise expressly provided in
the Plan, the costs of administration of the Plan will be paid by Abbott. Any
notice required to be given to, or any document

                                       12
<Page>

required to be filed with the Committee, will be properly given or filed if
mailed or delivered in writing to the Secretary of Abbott.

          6.3     RELIANCE UPON ADVICE. The Board of Directors and the Committee
may rely upon any information or advice furnished to it by any Officer of Abbott
or by Abbott's independent auditors, or other consultants, and shall be fully
protected in relying upon such information or advice. No member of the Board of
Directors or the Committee shall be liable for any act or failure to act on
their part, excepting only any acts done or omitted to be done in bad faith, nor
shall they be liable for any act or failure to act of any other member.

          6.4     TAXES. Any employer shall be entitled, if necessary or
desirable, to pay, or withhold the amount of any federal, state or local tax,
attributable to any amounts payable by it under the Plan after giving the person
entitled to receive such amount notice as far in advance as practicable, and may
defer making payment of any amount with respect to which any such tax question
may be pending unless and until indemnified to its satisfaction.

          6.5     RIGHTS OF PARTICIPANTS. Employment rights of participants with
Abbott and its subsidiaries shall not be enlarged or affected by reason of
establishment of or inclusion as a participant in the Plan. Nothing contained in
the Plan shall require Abbott or any subsidiary to segregate or earmark any
assets, funds or property for the purpose of payment of any amounts which may
have been deferred. The Deferred and Trust Accounts established pursuant to
subsection 5.2 are for the convenience of the administration of the Plan and no
trust relationship with respect to such Accounts is intended or should be
implied. Participant's rights shall be limited to payment to them at the time or
times and in such amounts as are contemplated by the Plan. Any decision made by
the Board of Directors or the Committee, which is within the sole and
uncontrolled discretion of either, shall be conclusive and binding upon the
other and upon all other persons whomsoever.

          6.6     TAX GROSS UP. In addition to the allocations provided under
subsection 4.1, each participant (or, if the participant is deceased, the
beneficiary designated under the participant's Grantor Trust) shall be entitled
to a Tax Gross Up payment for each year there is a balance in his or her Trust
Account. The "Tax Gross Up" shall approximate: (a) the amount necessary to
compensate the participant (or beneficiary) for the net increase in the
participant's (or beneficiary's) federal, state and local income taxes as a
result of the inclusion in his or her taxable income of the income of the
participant's Grantor Trust and any Guaranteed Rate Payment for that year; less
(b) any distribution to the participant (or beneficiary) of his or her Grantor
Trust's net earnings for that year; plus (c) an amount necessary to compensate
the participant (or beneficiary) for the net increase in the taxes described in
(a) above as a result of the inclusion in his or her taxable income of any
payment made pursuant to this subsection 6.6. Payment of the Tax Gross Up shall
be made by the employers (in such proportions as Abbott shall designate)
directly from their general corporate assets.

                                       13
<Page>

          6.7     INCOME TAX ASSUMPTIONS. For purposes of Sections 5 and 6, a
participant's federal income tax rate shall be deemed to be the highest marginal
rate of federal income individual tax in effect in the calendar year in which a
calculation under those Sections is to be made, and state and local tax rates
shall be deemed to be the highest marginal rates of individual income tax in
effect in the state and locality of the participant's residence on the date such
a calculation is made, net of any federal tax benefits.

          6.8     PAYMENT OF PRIOR DEFERRALS. Notwithstanding any other
provision of this Plan, the Committee, in its absolute discretion, may direct
that all or a portion of the balance in a participant's Deferred Account be paid
in accordance with the provisions of subsection 5.1(b). In such event, the
Committee shall establish and maintain a Trust Account in accordance with
subsection 5.2 and, for purposes of subsection 5.4, shall treat such payment as
if it were an allocation made for that fiscal year.

                                    SECTION 7

                      AMENDMENT, TERMINATION AND CHANGE OF
                         CONDITIONS RELATING TO PAYMENTS

          7.1     AMENDMENT AND TERMINATION. The Plan will be effective from its
effective date until terminated by the Board of Directors. During the fifth year
after the Plan's effective date and during every fifth year thereafter, the
Committee may recommend to the Board of Directors whether the Plan should be
amended or terminated. The Board of Directors reserves the right to amend the
Plan from time to time and to terminate the Plan at any time, except that no
such amendment or any termination of the Plan shall reduce any fixed or
contingent obligations which shall have arisen under the Plan prior to the date
of such amendment or termination, or change the terms and conditions of payment
of any allocation theretofore made without the consent of the participant
concerned.

          7.2     CHANGE OF CONDITIONS RELATING TO PAYMENTS. Following the
establishment by the Committee of any conditions relating to the payment of any
amount allocated to a participant for any fiscal year and any interest credited
thereon (including the time of payment or the time of commencement of payment
and any period over which payment shall be made), neither the Committee nor the
participant concerned, acting unilaterally, shall have the power to change the
conditions originally established by the Committee. However, in order to
effectuate the purposes of the Plan, any conditions initially established by the
Committee may be changed thereafter by mutual agreement of the Committee and the
participant concerned.

                                       14
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                                    EXHIBIT A

                       IRREVOCABLE GRANTOR TRUST AGREEMENT

               THIS AGREEMENT, made this _____ day of ____________, 1991, by and
between _______________________ of ___________, Illinois (the "grantor"), and
The Northern Trust Company located at Chicago, Illinois, as trustee (the
"trustee"),

                                WITNESSETH THAT:

               WHEREAS, the grantor desires to establish and maintain a trust to
hold certain benefits received by the grantor under the 1986 Abbott Laboratories
Management Incentive Plan, as it may be amended from time to time;

               NOW, THEREFORE, IT IS AGREED as follows:

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                                    ARTICLE I

                                  INTRODUCTION

               I-1    NAME. This agreement and the trust hereby evidenced (the
"trust") may be referred to as the "______________ 1991 Grantor Trust".

               I-2    THE TRUST FUND. The "trust fund" as at any date means all
property then held by the trustee under this agreement.

               I-3    STATUS OF THE TRUST. The trust shall be irrevocable. The
trust is intended to constitute a grantor trust under Sections 671-678 of the
Internal Revenue Code, as amended, and shall be construed accordingly.

               I-4    THE ADMINISTRATOR. Abbott Laboratories ("Abbott") shall
act as the "administrator" of the trust, and as such shall have certain powers,
rights and duties under this agreement as described below. Abbott will certify
to the trustee from time to time the person or persons authorized to act on
behalf of Abbott as the administrator. The trustee may rely on the latest
certificate received without further inquiry or verification.

               I-5    ACCEPTANCE. The trustee accepts the duties and obligations
of the "trustee" hereunder, agrees to accept funds delivered to it by the
grantor or the administrator, and agrees to hold such funds (and any proceeds
from the investment of such funds) in trust in accordance with this agreement.

                                   ARTICLE II

                         DISTRIBUTION OF THE TRUST FUND

               II-1   SEPARATE ACCOUNTS. The administrator shall maintain two
separate accounts under the trust, a "rollout account" and a "deferred account."
Funds delivered to the trustee shall be allocated between the accounts by the
trustee as directed by the administrator. As of the end of each calendar year,
the administrator shall charge each account with all distributions made from
such account during that year; and credit each account with its share of income
and realized gains and charge each account with its share of expenses and
realized losses for the year. The trustee shall not be required to make any
separate investment of the trust fund for the accounts, and may administer and
invest all funds delivered to it under the trust as one trust fund.

               II-2   DISTRIBUTIONS FROM THE ROLLOUT ACCOUNT PRIOR TO THE
GRANTOR'S DEATH. The trustee shall distribute principal and accumulated income
credited to the rollout account to the grantor, if then living, at such times
and in such amounts as the administrator shall direct.

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               II-3   DISTRIBUTIONS FROM THE DEFERRED ACCOUNT PRIOR TO THE
GRANTOR'S DEATH. Principal and accumulated income credited to the deferred
account shall not be distributed from the trust prior to the grantor's
retirement or other termination of employment with Abbott or a subsidiary of
Abbott (the grantor's "settlement date"); provided that, each year the
administrator may direct the trustee to distribute to the grantor a portion of
the income of the deferred account for that year, with the balance of such
income to be accumulated in that account. The administrator shall inform the
trustee of the grantor's settlement date. Thereafter, the trustee shall
distribute the amounts from time to time credited to the deferred account to the
grantor, if then living, in a series of annual installments, with the amount of
each installment computed by one of the following methods:

                      (a)  The amount of each installment shall be equal to the
                           sum of: (i) the amount credited to the deferred
                           account as of the end of the year in which the
                           grantor's settlement date occurs, divided by the
                           number of years over which installments are to be
                           distributed; plus (ii) the net earnings credited to
                           the deferred account for the preceding year
                           (excluding the year in which the grantor's settlement
                           date occurs).

                      (b)  The amount of each installment shall be determined by
                           dividing the amount credited to the deferred account
                           as of the end of the preceding year by the difference
                           between (i) the total number of years over which
                           installments are to be distributed, and (ii) the
                           number of annual installment distributions previously
                           made from the deferred account.

                      (c)  Each installment (after the first installment) shall
                           be approximately equal, with the amount comprised of
                           the sum of: (i) the amount of the first installment,
                           plus interest thereon at the rate determined under
                           the 1986 Abbott Laboratories Management Incentive
                           Plan, compounded annually; and (ii) the net earnings
                           credited to the deferred account for the preceding
                           year.

                           (i)    the foregoing, the final installment
                                  distribution made to the grantor under this
                                  paragraph II-3 shall equal the total principal
                                  and accumulated income then held in the trust
                                  fund. The grantor, by writing filed with the
                                  trustee and the administrator on or before the
                                  end of the calendar year in which the
                                  grantor's settlement date occurs (or the end
                                  of the calendar year in which this trust is
                                  established, if the grantor's settlement date
                                  has already occurred), may select both the
                                  period (which may not be less than

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                                  ten years from the end of the calendar year in
                                  which the grantor's settlement date occurred)
                                  over which the installment distributions are
                                  to be made and the method of computing the
                                  amount of each installment. In the absence of
                                  such a written direction by the grantor,
                                  installment distributions shall be made over a
                                  period of ten years, and the amount of each
                                  installment shall be computed by using the
                                  method described in subparagraph (a) next
                                  above. Installment distributions under this
                                  Paragraph II-3 shall be made as of January 1
                                  of each year, beginning with the calendar year
                                  following the year in which the grantor's
                                  settlement date occurs. The administrator
                                  shall inform the trustee of the amount of each
                                  installment distribution under this paragraph
                                  II-3, and the trustee shall be fully protected
                                  in relying on such information received from
                                  the administrator.

               II-4.  DISTRIBUTIONS FROM THE TRUST FUND AFTER THE GRANTOR'S
DEATH. The grantor, from time to time may name any person or persons (who may be
named contingently or successively and who may be natural persons or
fiduciaries) to whom the principal of the trust fund and all accrued or
undistributed income therefrom shall be distributed in a lump sum or, if the
beneficiary is the grantor's spouse (or a trust for which the grantor's spouse
is the sole income beneficiary), in installments, as directed by the grantor,
upon the grantor's death. If the grantor directs an installment method of
distribution to the spouse as beneficiary, any amounts remaining at the death of
the spouse beneficiary shall be distributed in a lump sum to the executor or
administrator of the spouse beneficiary's estate. If the grantor directs an
installment method of distribution to a trust for which the grantor's spouse is
the sole income beneficiary, any amounts remaining at the death of the spouse
shall be distributed in a lump sum to such trust. Despite the foregoing, if (i)
the beneficiary is a trust for which the grantor's spouse is the sole income
beneficiary, (ii) payments are being made pursuant to this paragraph II-4 other
than in a lump sum and (iii) income earned by the trust fund for the year
exceeds the amount of the annual installment payment, then such trust may elect
to withdraw such excess income by written notice to the trustee. Each
designation shall revoke all prior designations, shall be in writing and shall
be effective only when filed by the grantor with the administrator during the
grantor's lifetime. If the grantor fails to direct a method of distribution, the
distribution shall be made in a lump sum. If the grantor fails to designate a
beneficiary as provided above, then on the grantor's death, the trustee shall
distribute the balance of the trust fund in a lump sum to the executor or
administrator of the grantor's estate.

               II-5   FACILITY OF PAYMENT. When a person entitled to a
distribution hereunder is under legal disability, or, in the trustee's opinion,
is in any way incapacitated so as to be unable to manage his or her financial
affairs, the trustee may

<Page>

make such distribution to such person's legal representative, or to a relative
or friend of such person for such person's benefit. Any distribution made in
accordance with the preceding sentence shall be a full and complete discharge of
any liability for such distribution hereunder.

               II-6   PERPETUITIES. Notwithstanding any other provisions of this
agreement, on the day next preceding the end of 21 years after the death of the
last to die of the grantor and the grantor's descendants living on the date of
this instrument, the trustee shall immediately distribute any remaining balance
in the trust to the beneficiaries then entitled to distributions hereunder.

                                   ARTICLE III
                          MANAGEMENT OF THE TRUST FUND

               III-1. GENERAL POWERS. The trustee shall, with respect to the
trust fund, have the following powers, rights and duties in addition to those
provided elsewhere in this agreement or by law:

                      (a)  Subject to the limitations of subparagraph (b) next
                           below, to sell, contract to sell, purchase, grant or
                           exercise options to purchase, and otherwise deal with
                           all assets of the trust fund, in such way, for such
                           considerations, and on such terms and conditions as
                           the trustee decides.

                      (b)  To retain in cash such amounts as the trustee
                           considers advisable; and to invest and reinvest the
                           balance of the trust fund, without distinction
                           between principal and income, in obligations of the
                           United States Government and its agencies or which
                           are backed by the full faith and credit of the United
                           States Government or in any mutual fund, common trust
                           fund or collective investment fund which invests
                           solely in such obligations; and any such investment
                           made or retained by the trustee in good faith shall
                           be proper despite any resulting risk or lack of
                           diversification or marketability.

                      (c)  To deposit cash in any depositary (including the
                           banking department of the bank acting as trustee)
                           without liability for interest, and to invest cash in
                           savings accounts or time certificates of deposit
                           bearing a reasonable rate of interest in any such
                           depositary.

                      (d)  To invest, subject to the limitations of subparagraph
                           (b) above, in any common or commingled trust fund or
                           funds maintained or administered by the trustee
                           solely for the investment of trust funds.

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                      (e)  To borrow from anyone, with the administrator's
                           approval, such sum or sums from time to time as the
                           trustee considers desirable to carry out this trust,
                           and to mortgage or pledge all or part of the trust
                           fund as security.

                      (f)  To retain any funds or property subject to any
                           dispute without liability for interest and to decline
                           to make payment or delivery thereof until final
                           adjudication by a court of competent jurisdiction or
                           until an appropriate release is obtained.

                      (g)  To begin, maintain or defend any litigation necessary
                           in connection with the administration of this trust,
                           except that the trustee shall not be obliged or
                           required to do so unless indemnified to the trustee's
                           satisfaction.

                      (h)  To compromise, contest, settle or abandon claims or
                           demands.

                      (i)  To give proxies to vote stocks and other voting
                           securities, to join in or oppose (alone or jointly
                           with others) voting trusts, mergers, consolidations,
                           foreclosures, reorganizations, liquidations, or other
                           changes in the financial structure of any
                           corporation, and to exercise or sell stock
                           subscription or conversion rights.

                      (j)  To hold securities or other property in the name of a
                           nominee, in a depositary or in any other way, with or
                           without disclosing the trust relationship.

                      (k)  To divide or distribute the trust fund in undivided
                           interests or wholly or partly in kind.

                      (l)  To pay any tax imposed on or with respect to the
                           trust; to defer making payment of any such tax if it
                           is indemnified to its satisfaction in the premises;
                           and to require before making any payment such release
                           or other document from any lawful taxing authority
                           and such indemnity from the intended payee as the
                           trustee consider necessary for its protection.

                      (m)  To deal without restriction with the legal
                           representative of the grantor's estate or the trustee
                           or other legal representative of any trust created by
                           the grantor or a trust or estate in which a
                           beneficiary has an interest, even though

<Page>

                           the trustee, individually, shall be acting in such
                           other capacity without liability for any loss that
                           may result.

                      (n)  To appoint or remove by written instrument any bank
                           or corporation qualified to act as successor trustee,
                           wherever located, as special trustee as to part or
                           all of the trust fund, including property as to which
                           the trustee does not act, and such special trustee,
                           except as specifically limited or provided by this or
                           the appointing instrument, shall have all of the
                           rights, titles, powers, duties, discretions and
                           immunities of the trustee, without liability for any
                           action taken or omitted to be taken under this or the
                           appointing instrument.

                      (o)  To appoint or remove by written instrument any bank,
                           wherever located, as custodian of part or all of the
                           trust fund, and each such custodian shall have such
                           rights, powers, duties and discretions as are
                           delegated to it by the trustee.

                      (p)  To employ agents, attorneys, accountants or other
                           persons, and to delegate to them such powers as the
                           trustee considers desirable, and the trustee shall be
                           protected in acting or refraining from acting on the
                           advice of persons so employed without court action.

                      (q)  To perform any and all other acts which in the
                           trustee's judgment are appropriate for the proper
                           management, investment and distribution of the trust
                           fund.

               III-2. PRINCIPAL AND INCOME. Any income earned on the trust fund
which is not distributed as provided in Article II shall be accumulated and from
time to time added to the principal of the trust. The grantor's interest in the
trust shall include all assets or other property held by the trustee hereunder,
including principal and accumulated income.

               III-3. STATEMENTS. The trustee shall prepare and deliver monthly
to the administrator and annually to the grantor, if then living, otherwise to
each beneficiary then entitled to distributions under this agreement, a
statement (or series of statements) setting forth (or which taken together set
forth) all investments, receipts, disbursements and other transactions effected
by the trustee during the reporting period; and showing the trust fund and the
value thereof at the end of such period.

               III-4. COMPENSATION AND EXPENSES. All reasonable costs, charges
and expenses incurred in the administration of this trust, including
compensation to the trustee, any compensation to agents, attorneys, accountants
and other persons

<Page>

employed by the trustee, and expenses incurred in connection with the sale,
investment and reinvestment of the trust fund shall be paid from the trust fund.

                                   ARTICLE IV
                               GENERAL PROVISIONS

               IV-1.  INTERESTS NOT TRANSFERABLE. The interests of the grantor
or other persons entitled to distributions hereunder are not subject to their
debts or other obligations and may not be voluntarily or involuntarily sold,
transferred, alienated, assigned or encumbered.

               IV-2.  DISAGREEMENT AS TO ACTS. If there is a disagreement
between the trustee and anyone as to any act or transaction reported in any
accounting, the trustee shall have the right to a settlement of its account by
any proper court.

               IV-3.  TRUSTEE'S OBLIGATIONS. No power, duty or responsibility is
imposed on the trustee except as set forth in this agreement. The trustee is not
obliged to determine whether funds delivered to or distributions from the trust
are proper under the trust, or whether any tax is due or payable as a result of
any such delivery or distribution. The trustee shall be protected in making any
distribution from the trust as directed pursuant to Article II without inquiring
as to whether the distributee is entitled thereto; and the trustee shall not be
liable for any distribution made in good faith without written notice or
knowledge that the distribution is not proper under the terms of this agreement.

               IV-4.  GOOD FAITH ACTIONS. The trustee's exercise or non-exercise
of its powers and discretions in good faith shall be conclusive on all persons.
No one shall be obliged to see to the application of any money paid or property
delivered to the trustee. The certificate of the trustee that it is acting
according to this agreement will fully protect all persons dealing with the
trustee.

               IV-5.  WAIVER OF NOTICE. Any notice required under this agreement
may be waived by the person entitled to such notice.

               IV-6.  CONTROLLING LAW. The laws of the State of Illinois shall
govern the interpretation and validity of the provisions of this agreement and
all questions relating to the management, administration, investment and
distribution of the trust hereby created.

               IV-7.  SUCCESSORS. This agreement shall be binding on all persons
entitled to distributions hereunder and their respective heirs and legal
representatives, and on the trustee and its successors.

                                    ARTICLE V
                               CHANGES IN TRUSTEE

               V-1.   RESIGNATION OR REMOVAL OF TRUSTEE. The trustee may resign
at any time by giving thirty days' advance written notice to the administrator
and

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the grantor. The administrator may remove a trustee by written notice to the
trustee and the grantor.

               V-2.   APPOINTMENT OF SUCCESSOR TRUSTEE. The administrator shall
fill any vacancy in the office of trustee as soon as practicable by written
notice to the successor trustee; and shall give prompt written notice thereof to
the grantor, if then living, otherwise to each beneficiary then entitled to
payments or distributions under this agreement. A successor trustee shall be a
bank (as defined in Section 581 of the Internal Revenue Code, as amended).

               V-3.   DUTIES OF RESIGNING OR REMOVED TRUSTEE AND OF SUCCESSOR
TRUSTEE. A trustee that resigns or is removed shall furnish promptly to the
administrator and the successor trustee an account of its administration of the
trust from the date of its last account. Each successor trustee shall succeed to
the title to the trust fund vested in its predecessor without the signing or
filing of any instrument, but each predecessor trustee shall execute all
documents and do all acts necessary to vest such title of record in the
successor trustee. Each successor trustee shall have all the powers conferred by
this agreement as if originally named trustee. No successor trustee shall be
personally liable for any act or failure to act of a predecessor trustee. With
the approval of the administrator, a successor trustee may accept the account
furnished and the property delivered by a predecessor trustee without incurring
any liability for so doing, and such acceptance will be complete discharge to
the predecessor trustee.

                                   ARTICLE VI
                            AMENDMENT AND TERMINATION

               VI-1.  AMENDMENT. With the consent of the administrator, this
trust may be amended from time to time by the grantor, if then living, otherwise
by a majority of the beneficiaries then entitled to payments or distributions
hereunder, except as follows:

                      (a)  The duties and liabilities of the trustee cannot be
                           changed substantially without its consent.

                      (b)  This trust may not be amended so as to make the trust
                           revocable.

               VI-2.  TERMINATION. This trust shall not terminate, and all
rights, titles, powers, duties, discretions and immunities imposed on or
reserved to the trustee, the administrator, the grantor and the beneficiaries
shall continue in effect, until all assets of the trust have been distributed by
the trustee as provided in Article II.

<Page>

                                  *    *    *

               IN WITNESS WHEREOF, the grantor and the trustee have executed
this agreement as of the day and year first above written.

                                   -----------------------------------------
                                   Grantor

                                   The Northern Trust Company as
                                   Trustee
                                   By
                                   -----------------------------------------

                                   Its
                                   -----------------------------------------

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