Document:

Exhibit
10.4

VALMONT 2002 STOCK PLAN

SECTION 1

NAME AND PURPOSE

1.1  NAME. The name of the plan shall be the
Valmont 2002 Stock Plan (the “Plan”).

1.2. PURPOSE OF PLAN. The
purpose of the Plan is to foster and promote the long-term financial success of
the Company and increase stockholder value by (a) motivating superior
performance by means of stock incentives, (b) encouraging and providing for the
acquisition of an ownership interest in the Company by Employees and (c)
enabling the Company to attract and retain the services of a management team
responsible for the long-term financial success of the Company.

SECTION 2

DEFINITIONS

2.1  DEFINITIONS. Whenever used herein, the
following terms shall have the respective meanings set forth below:

(a)                      “Act” means
the Securities Exchange Act of 1934, as amended.

(b)                     “Award” means
any Option, Stock Appreciation Right, Restricted Stock, Stock Bonus, or any
combination thereof granted under the Plan, including Awards combining two or
more types of Awards in a single grant.

(c)                      “Board”
means the Board of Directors of the Company.

(d)                     “Code” means
the Internal Revenue Code of 1986, as amended.

(e)                      “Committee”
means the Compensation Committee of the Board, which shall consist of two or
more members, each of whom shall be a “non-employee director” within the
meaning of Rule 16b-3 as promulgated under the Act.

(f)                        “Company”
means Valmont Industries, Inc., a Delaware corporation (and any successor
thereto) and its Subsidiaries.

(g)                     “Director
Award” means an award of Stock and an annual Award of a Nonstatutory Stock
Option granted to each Eligible Director pursuant to Section 7.1 without any
action by the Board or the Committee.

(h)                     “Eligible
Director” means a person who is serving as a member of the Board and who is not
an Employee.

(i)                         “Employee”
means any employee of the Company or any of its Subsidiaries.

(j)                         “Fair
Market Value” means, on any date, the average of the high and low sales prices
of the Stock as reported on the National Association of 

Securities Dealers
Automated Quotation system (or on such other recognized market or quotation
system on which the trading prices of the Stock are traded or quoted at the
relevant time) on such date. In the event that there are no Stock transactions
reported on such system (or such other system) on such date, Fair Market Value
shall mean the average of the high and low sale prices on the immediately
preceding date on which Stock transactions were so reported.

(k)                      “Option”
means the right to purchase Stock at a stated price for a specified period of
time. For purposes of the Plan, an Option may be either (i) an Incentive Stock
Option within the meaning of Section 422 of the Code or (ii) a Nonstatutory
Stock Option.

(l)                         “Participant”
means any person designated by the Committee to participate in the Plan.

(m)                   “Plan” means
the Valmont 2002 Stock Plan, as in effect from time to time.

(n)                     “Restricted
Stock” shall mean a share of Stock granted to a Participant subject to such
restrictions as the Committee may determine.

(o)                     “Stock” means
the Common Stock of the Company, par value $1.00 per share.

(p)                     “Stock
Appreciation Right” means the right, subject to such terms and conditions as
the Committee may determine, to receive an amount in cash or Stock, as
determined by the Committee, equal to the excess of (i) the Fair Market Value,
as of the date such Stock Appreciation Right is exercised, of the number shares
of Stock covered by the Stock Appreciation Right being exercised over (ii) the
aggregate exercise price of such Stock Appreciation Right.

(q)                     “Stock Bonus”
means the grant of Stock as compensation from the Company in lieu of cash
salary or bonuses otherwise payable to the Participant, and stock issued for
service awards and other similar employee recognition programs.

(r)                        “Subsidiary”
means any corporation or partnership in which the Company owns, directly or
indirectly, 50% or more of the total combined voting power of all classes of
stock of such corporation or of the capital interest or profits interest of
such partnership.

2.2  GENDER AND NUMBER. Except when otherwise
indicated by the context, words in the masculine gender used in the Plan shall
include the feminine gender, the singular shall include the plural, and the
plural shall include the singular.

SECTION 3

ELIGIBILITY AND PARTICIPATION

Except as otherwise
provided in Sections 5.1 and 7.1, the only persons eligible to participate in
the Plan shall be those Employees selected by the Committee as Participants.

 

SECTION 4

POWERS OF THE COMMITTEE

4.1 POWER TO GRANT. The
Committee shall determine the Participants to whom Awards shall be granted, the
type or types of Awards to be granted, and the terms and conditions of any and
all such Awards. The Committee may establish different terms and conditions for
different types of Awards, for different Participants receiving the same type
of Awards, and for the same Participant for each Award such Participant may
receive, whether or not granted at different times.

4.2 ADMINISTRATION. The
Committee shall be responsible for the administration of the Plan. The
Committee, by majority action thereof, is authorized to prescribe, amend, and
rescind rules and regulations relating to the Plan, to provide for conditions
deemed necessary or advisable to protect the interests of the Company, and to
make all other determinations necessary or advisable for the administration and
interpretation of the Plan in order to carry out its provisions and purposes.
Determinations, interpretations, or other actions made or taken by the
Committee pursuant to the provisions of the Plan shall be final, binding, and
conclusive for all purposes and upon all persons.

SECTION 5

STOCK SUBJECT TO PLAN

5.1 NUMBER. Subject to
the provisions of Section 5.3, the number of shares of Stock subject to Awards
(including Director Awards) under the Plan may not exceed 1,700,000 shares of
Stock. The shares to be delivered under the Plan may consist, in whole or in
part, of treasury Stock or authorized but unissued Stock, not reserved for any
other purpose. The maximum number of shares of Stock with respect to which
Awards may be granted to any one Employee under the Plan is 40% of the
aggregate number of shares of Stock available for Awards under Section 5.1. A
maximum of 20% of the shares of Stock available for issuance under the Plan may
be issued as Restricted Stock or Stock Bonuses. In addition, a maximum of
50,000 shares available for issuance under the Plan may be issued to
non-employee consultants.

5.2 CANCELLED, TERMINATED
OR FORFEITED AWARDS. Any shares of Stock subject to an Award which for any
reason are cancelled, terminated or otherwise settled without the issuance of
any Stock shall again be available for Awards under the Plan. In the event that
an Award is exercised through the delivery of Stock or in the event that
withholding tax liabilities arising from such Award are satisfied by the
withholding of Stock by the Company, the number of shares available for Awards
under the Plan shall be increased by the number of shares surrendered or
withheld.

5.3 ADJUSTMENT IN
CAPITALIZATION. In the event of any Stock dividend or Stock split,
recapitalization (including, without limitation, the payment of an
extraordinary dividend), merger, consolidation, combination, spin-off, distribution
of assets to stockholders, exchange of shares, or other similar corporate
transaction or event, (i) the aggregate number of shares of Stock available for
Awards under Section 5.1 and (ii) the number of shares and exercise price with
respect to Options and the number, prices and dollar value of other Awards, shall
be appropriately adjusted by the Committee, whose determination shall be
conclusive. If, pursuant to the preceding sentence, an adjustment is made to
the number of shares of Stock 

authorized for issuance under
the Plan, a corresponding adjustment shall be made with respect to Director
Awards granted pursuant to Section 7.1.

SECTION 6

STOCK OPTIONS

6.1 GRANT OF OPTIONS.
Options may be granted to Participants at such time or times as shall be
determined by the Committee. Options granted under the Plan may be of two
types: (i) Incentive Stock Options and (ii) Nonstatutory Stock Options. The
Committee shall have complete discretion in determining the number of Options,
if any, to be granted to a Participant. Each Option shall be evidenced by an
Option agreement that shall specify the type of Option granted, the exercise
price, the duration of the Option, the number of shares of Stock to which the
Option pertains, the exercisability (if any) of the Option in the event of
death, retirement, disability or termination of employment, and such other
terms and conditions not inconsistent with the Plan as the Committee shall determine.
Options may also be granted in replacement of or upon assumption of options
previously issued by companies acquired by the Company by merger or stock
purchase, and any options so replaced or assumed may have the same terms including
exercise price as the options so replaced or assumed.

6.2 OPTION PRICE.
Nonstatutory Stock Options and Incentive Stock Options granted pursuant to the
Plan shall have an exercise price which is not less than the Fair Market Value
on the date the Option is granted.

6.3 EXERCISE OF OPTIONS.
Options awarded to a Participant under the Plan shall be exercisable at such
times and shall be subject to such restrictions and conditions as the Committee
may impose, subject to the Committee’s right to accelerate the exercisability
of such Option in its discretion. Notwithstanding the foregoing, no Option
shall be exercisable for more than ten years after the date on which it is
granted.

6.4 PAYMENT. The
Committee shall establish procedures governing the exercise of Options, which
shall require that written notice of exercise be given and that the Option
price be paid in full in cash or cash equivalents, including by personal check,
at the time of exercise or pursuant to any arrangement that the Committee shall
approve. The Committee may, in its discretion, permit a Participant to make
payment (i) by tendering, either by actual delivery of shares or by
attestation, shares of Stock already owned by the Participant valued at its
Fair Market Value on the date of exercise (if such Stock has been owned by the
Participant for at least six months) or (ii) by electing to have the Company
retain Stock which would otherwise be issued on exercise of the Option, valued
at its Fair Market Value on the date of exercise.  As soon as practicable after receipt of a
written exercise notice and full payment of the exercise price, the Company
shall deliver to the Participant a certificate or certificates representing the
acquired shares of Stock. The Committee may permit a Participant to elect to
pay the exercise price upon the exercise of an Option by irrevocably
authorizing a third party to sell shares of Stock (or a sufficient portion of
the shares) acquired upon exercise of the Option and remit to the Company a
sufficient portion of the sale proceeds to pay the entire exercise price and
any required tax withholding resulting from such exercise.

6.5 INCENTIVE STOCK
OPTIONS. Notwithstanding anything in the Plan to the contrary, no term of this
Plan relating to Incentive Stock Options shall be interpreted, amended or
altered, nor shall any discretion or authority granted under the Plan be so
exercised, so as to disqualify the Plan under Section 422 of the Code, or,
without the consent of any Participant 

affected thereby, to cause
any Incentive Stock Option previously granted to fail to qualify for the Federal
income tax treatment afforded under Section 421 of the Code.

6.6 REPLACEMENT OPTIONS.
The Committee may grant a replacement option (a “Replacement Option”) to any
Employee who exercises all or part of an option granted under this Plan using
Qualifying Stock (as herein defined) as payment for the purchase price. A
Replacement Option shall grant to the Employee the right to purchase, at the
Fair Market Value as of the date of said exercise and grant, the number of
shares of stock equal to the sum of the number of whole shares (i) used by the
Employee in payment of the purchase price for the option which was exercised
and (ii) used by the Employee in connection with applicable withholding taxes
on such transaction. A Replacement Option may not be exercised for six months
following the date of grant, and shall expire on the same date as the option which
it replaces. Qualifying Stock is stock which has been owned by the Employee for
at least six months prior to the date of exercise and has not been used in a
stock-for-stock swap transaction within the preceding six months.

SECTION 7

DIRECTOR AWARDS

7.1 AMOUNT OF AWARD. Each
Eligible Director shall receive a non-discretionary Award of 2,000 shares of
stock each year; such Award shall be made annually on the date of and following
completion of the Company’s annual stockholders’ meeting (commencing with the
2002 annual stockholders’ meeting).  Each
Eligible Director shall be issued a common stock certificate for such number of
shares. Termination of the director’s services for any reason other than (i)
death, (ii) retirement from the Board at mandatory retirement age, or (iii)
resignation or failure to stand for re-election, in any such case with the prior
approval of the Board, will result in forfeiture of the Stock. If the Stock is
forfeited, the director shall return the number of forfeited shares of Stock,
or equivalent value, to the Company. The number of shares of Stock awarded to
an Eligible Director annually shall be appropriately adjusted in the event of
any stock changes as described in Section 5.3. In addition, each Eligible
Director shall receive a non-discretionary Award of a Nonqualified Stock Option
for 4,000 shares of Stock exercisable at the Fair Market Value of the Company’s
common stock on the date of grant; such Award shall be made annually on the
date of and following completion of the Company’s annual stockholders’ meeting
(commencing with the 2002 annual stockholders’ meeting).

The number of nonqualified options awarded to a
director shall be appropriately adjusted in the event of any stock changes as
described in Section 5.3.

7.2 NO OTHER AWARDS. An
Eligible Director shall not receive any other Award under the Plan.

SECTION 8

STOCK APPRECIATION RIGHTS

8.1 SAR’S IN TANDEM WITH
OPTIONS. Stock Appreciation Rights may be granted to Participants in tandem
with any Option granted under the Plan, either at or after the time of the
grant of such Option, subject to such terms and conditions, not inconsistent
with the provisions of the Plan, as the Committee shall determine. Each Stock
Appreciation Right shall 

only be exercisable to
the extent that the corresponding Option is exercisable, and shall terminate
upon termination or exercise of the corresponding Option.

Upon the exercise of any Stock Appreciation Right, the
corresponding Option shall terminate.

8.2 OTHER STOCK
APPRECIATION RIGHTS. Stock Appreciation Rights may also be granted to
Participants separately from any Option, subject to such terms and conditions,
not inconsistent with the provisions of the Plan, as the Committee shall
determine.

SECTION 9

RESTRICTED STOCK

9.1 GRANT OF RESTRICTED
STOCK. The Committee may grant Restricted Stock to Participants at such times
and in such amounts, and subject to such other terms and conditions not
inconsistent with the Plan as it shall determine.

Each grant of Restricted
Stock shall be subject to such restrictions, which may relate to continued
employment with the Company, performance of the Company, or other restrictions,
as the Committee may determine. Each grant of Restricted Stock shall be
evidenced by a written agreement setting forth the terms of such Award.

9.2 REMOVAL OF
RESTRICTIONS. The Committee may accelerate or waive such restrictions in whole
or in part at any time in its discretion.

SECTION 10

STOCK BONUSES

10.1 GRANT OF STOCK
BONUSES. The Committee may grant a Stock Bonus to a Participant at such times
and in such amounts, and subject to such other terms and conditions not
inconsistent with the Plan, as it shall determine.

SECTION 11

AMENDMENT, MODIFICATION,
AND TERMINATION OF PLAN

11.1 GENERAL. The Board
may from time to time amend, modify or terminate any or all of the provisions
of the Plan, subject to the provisions of this Section 11.1. The Board may not
change the Plan in a manner which would prevent outstanding Incentive Stock
Options granted under the Plan from being Incentive Stock Options without the
written consent of the optionees concerned. Furthermore, the Board may not make
any amendment which would (i) materially modify the requirements for
participation in the Plan, (ii) increase the number of shares of Stock subject
to Awards under the Plan or to any one Employee pursuant to Section 5.1, or
(iii) change the minimum exercise price for stock options as provided in
Section 6.2, in each case without the approval of a majority of the outstanding
shares of Stock entitled to vote thereon. No amendment or modification shall
affect the rights of any Employee with respect to a previously granted Award,
nor shall any amendment or modification affect the rights of any Eligible
Director pursuant to a previously granted Director Award.

11.2 TERMINATION OF PLAN.
No further Options shall be granted under the Plan subsequent to December 31,
2012, or such earlier date as may be determined by the Board.

 

SECTION 12

MISCELLANEOUS PROVISIONS

12.1 NONTRANSFERABILITY
OF AWARDS. Except as otherwise provided by the Committee, Awards under the Plan
are not transferable, except by will or by the laws of descent and
distribution.

12.2 BENEFICIARY
DESIGNATION. Each Participant under the Plan may from time to time name any
beneficiary or beneficiaries (who may be named contingent or successively) to
whom any benefit under the Plan is to be paid or by whom any right under the
Plan is to be exercised in case of his death. Each designation will revoke all
prior designations by the same Participant shall be in a form prescribed by the
Committee, and will be effective only when filed in writing with the Company.
In the absence of any such designation, Awards outstanding at death may be
exercised by the Participant’s surviving spouse, if any, or otherwise by his
estate.

12.3 NO GUARANTEE OF
EMPLOYMENT OR PARTICIPATION. Nothing in the Plan shall interfere with or limit
in any way the right of the Company or any Subsidiary to terminate any
Participant’s employment at any time, nor confer upon any Participant any right
to continue in the employ of the Company or any Subsidiary. No Employee shall
have a right to be selected as a Participant, or, having been so selected, to
receive any future Awards.

12.4 TAX WITHHOLDING. The
Company shall have the power to withhold, or require a Participant or Eligible
Director to remit to the Company, an amount sufficient to satisfy federal,
state, and local withholding tax requirements on any Award under the Plan, and
the Company may defer issuance of Stock until such requirements are satisfied.
The Committee may, in its discretion, permit a Participant to elect, subject to
such conditions as the Committee shall impose, (i) to have shares of Stock
otherwise issuable under the Plan withheld by the Company or (ii) to deliver to
the Company previously acquired shares of Stock, in each case having a Fair
Market Value sufficient to satisfy all or part of the Participant’s estimated
total federal, state and local tax obligation associated with the transaction.

12.5 CHANGE OF CONTROL.
On the date of a Change of Control, all outstanding options and stock
appreciation rights shall become immediately exercisable and all restrictions
with respect to Restricted Stock shall lapse.

“Change of Control” shall mean:

(i)                         The
acquisition (other than from the Company) by any person, entity or “group”,
within the meaning of Section 13(d)(3) or 14(d)(2) of the Act (excluding any
acquisition or holding by (i) the Company or its subsidiaries, (ii) any
employee benefit plan of the Company or its subsidiaries which acquires
beneficial ownership of voting securities of the Company and (iii) Robert B.
Daugherty, his successors and assigns and any tax-exempt entity established by
him) of beneficial ownership (within the meaning of Rule 13d-3 promulgated
under the Act) of 50% or more of either the then outstanding shares of common
stock or the combined voting power of the Company’s then outstanding voting
securities entitled to vote generally in the election of directors; or

 

(ii)                      Individuals
who, as of the date hereof, constitute the Board (as of the date hereof the “Incumbent
Board”) cease for any reason to constitute at least a majority of the Board,
provided that any person becoming a director subsequent to the date hereof
whose election, or nomination for the election by the Company’s stockholders,
was approved by a vote of at least a majority of the directors then comprising
the Incumbent Board shall be, for purposes of this Plan, considered as though
such person were a member of the Incumbent Board; or

(iii)                   Consummation of
a reorganization, merger or consolidation, approved by the stockholders of the
Company, in which the Company is not the surviving entity and with respect to
which persons who were the stockholders of the Company immediately prior to
such reorganization, merger or consolidation do not, immediately thereafter,
own more than 50% of the combined voting power entitled to vote generally in
the election of directors of the reorganized, merged or consolidated company’s
then outstanding voting securities, or a liquidation or dissolution of the Company
or of the sale of all or substantially all of the assets of the Company.

12.6  AGREEMENTS WITH COMPANY. An Award under the
Plan shall be subject to such terms and conditions, not inconsistent with the
Plan, as the Committee may, in its sole discretion, prescribe.  The terms and conditions of any Award to any
Participant shall be reflected in such form of written document as is
determined by the Committee or its designee.

12.7 COMPANY INTENT. The
Company intends that the Plan comply in all respects with Rule 16b-3 under the
Act, and any ambiguities or inconsistencies in the construction of the Plan
shall be interpreted to give effect to such intention.

12.8 REQUIREMENTS OF LAW.
The granting of Awards and the issuance of shares of Stock shall be subject to
all applicable laws, rules, and regulations, and to such approvals by any
governmental agencies or securities exchanges as may be required.

12.9 EFFECTIVE DATE. The
Plan shall be effective upon its adoption by the Board subject to approval by
the Company’s stockholders at the 2002 annual stockholders’ meeting.

12.10 GOVERNING LAW. The
Plan, and all agreements hereunder, shall be construed in accordance with and
governed by the laws of the State of Delaware.Exhibit
10.7

AMERIPRISE FINANCIAL SUPPLEMENTAL RETIREMENT PLAN

Restated as Amended
Through January 1, 2007

I.              HISTORY AND
EFFECTIVE DATES OF THE PLAN

A.                                    History and
Purpose

The Ameriprise Financial Supplemental Retirement Plan (the “Plan”)
was adopted by Ameriprise Financial, Inc. effective October 1, 2005.  The Plan is hereby amended and restated in
its entirety effective January 1, 2007. 
The Plan is intended to supplement retirement benefits provided under
the Ameriprise Financial Retirement Plan, the Ameriprise Financial 401(k) Plan
(for pay periods ending prior to December 31, 2006), and any other retirement
and savings plans sponsored by the Company, for a select group of management or
highly compensated individuals.  The Plan
is intended to be and shall be construed and operated as a “top-hat plan” under
Sections 201(2), 301(a)(3), and 401(a)(1) of the Employee Retirement Income
Security Act of 1974, as amended (“ERISA”), and Section 2520.104-23 of the
United States Department of Labor Regulations.

B.                                    Effective Date

This Ameriprise Financial Supplemental Retirement Plan became
effective October 1, 2005.

Effective as of the close of business on September 30, 2005, the
American Express Company effectuated the distribution of all of the outstanding
securities of Ameriprise Financial, Inc. to the shareholders of the American
Express Company in a tax-free spin-off under the Code (the “Spin-Off”).  On that date, the Company ceased to be a
participating employer in the American Express Company’s tax-qualified retirement
plans and the components of such plans covering Company participants were
transferred to new plans established by the Company in a transaction that
complied with Section 414(l) of the Code. 
In connection with this transaction, the component of the American
Express Company Supplemental Retirement Plan (the “AXP Plan”) covering Company
participants was similarly transferred to the Company.  Effective as of the close of business on
September 30, 2005, the Company and its subsidiaries ceased to be participating
companies, and employees and retirees of the Company and its subsidiaries
ceased to be participants, in the AXP Plan.

The Plan is hereby amended to discontinue contributions to
Participants in excess of the limits under the 401(k) Plan for pay periods
ending on or after January 1, 2007, and to reflect certain other design
changes.

C.                                    Transition Rules

(1)                                 Opening Account
Balances and Participation.  Unless otherwise expressly
set forth herein, the account balance as of the close of business on September
30, 2005 of any individual who had accumulated benefits under the AXP Plan, the
responsibility for which was transferred to the Company pursuant to the
Employee Benefits Agreement by and between the American Express Company and the
Company (the “EBA”), shall be the account balance such Participant had in the
AXP Plan immediately before the Spin-Off. 
For purposes of this transition rule only, “Participant” shall include
individuals with accrued benefits under the AXP Plan, the responsibility for which
was transferred to the Company under the EBA. 
A Participant who became an Employee of the Company and Participant
under the Plan shall accrue benefits and receive distributions of such
benefits, including benefits accrued under the AXP Plan, as set forth below in
the Plan.  A Participant who had accrued
benefits under the AXP Plan, but did not become an Employee of the Company
accruing additional benefits under the Plan, shall have benefits solely as set
forth in, and shall receive payments from the Company solely in accordance
with, the terms of the AXP Plan as in effect on September 30, 2005.

(2)                                 Plan Elections and
Designations.  Notwithstanding anything herein to the
contrary and in accordance with the requirements of the EBA, all beneficiary
designations, deferral election forms, investment elections, payment form
elections, and qualified domestic relations orders creating rights for
alternate payees in effect under the AXP Plan as of September 30, 2005 shall be
deemed to be effective with respect to the Plan.  For purposes of this Section, investment
elections relating to the American Express Company Stock Fund under the AXP
Plan shall be deemed to apply to the Company Stock Fund under the Plan.

(3)                                 Calculation of
Limitations.  Notwithstanding anything herein to the
contrary, for purposes of calculating the Section 415 Limitations and the
Section 401(a)(17) Limitation, compensation and benefits accrued under the AXP
Plan (and the underlying AXP qualified retirement plans) and/or while a
Participant was employed by the American Express Company or its affiliates
during 2005 shall be taken into consideration under the Plan for the 2005 Plan
Year.

II.            DEFINITIONS

As used in the
Plan, the following terms have the meanings indicated below:

A.                                    “Administrator” means the Compensation and
Benefits Committee, including any individual(s) to whom the Compensation and
Benefits Committee delegates authority under the Plan, or such other committee
or individual(s) authorized to act as the Administrator by the Compensation and
Benefits Committee.

B.                                    “Affiliate” means any corporation or other
trade or business under common control with the Company, as further defined in
the Company’s Qualified Retirement Plans.

 2
 

C.                                    “Beneficiary” means the individual or entity
designated by the Participant in accordance with procedures established by the
Administrator to receive benefits under the Plan in the event of the
Participant’s death.

D.                                    “Change in Control” has the meaning given such term in
the Ameriprise Financial 2005 Incentive Compensation Plan, as amended.

E.                                      “Code” means the
Internal Revenue Code of 1986, as amended, together with official
interpretations, guidance, or regulations issued thereunder.

F.                                      “Company” means Ameriprise
Financial, Inc. and any of its subsidiaries and Affiliates which have become
participating employers in a Qualified Retirement Plan.

G.                                    “Compensation” means, with
respect to excess benefits calculated with reference to a particular Qualified
Retirement Plan, “Compensation” as defined in the applicable Qualified
Retirement Plan, as the context implies, provided that the Compensation and
Benefits Committee may, in its discretion, designate additional or different
items, such as the value of certain equity awards, as Compensation for purposes
of one or more of the benefits provided under the Plan.

H.                                    “Compensation
and Benefits Committee” means the Compensation and Benefits Committee of Ameriprise
Financial, Inc.’s Board of Directors, or such successor committee as may be
designated by Ameriprise Financial, Inc.’s Board of Directors.

I.                                         “Deferral
Plan” means the Ameriprise Financial Deferred Compensation Plan, or any similar
or successor non-qualified plan for the deferral of compensation in accordance
with Section 409A.

J.                                      “Defined
Termination” has
the meaning given such term in the Senior Executive Severance Plan.

K.                                    “Employee” means an elected
or appointed officer of the Company or any other individual the Administrator
identifies as an employee of the Company, and whose compensation is reported on
a Form W-2, regardless of whether the use of such form is subsequently
determined to be erroneous.

L.                                     “Insiders” means such
Participants who are or may be required to file reports under Section 16(a) of
the Securities Exchange Act of 1934, as amended, with respect to equity
securities of Ameriprise Financial, Inc.

M.                                  “401(k)
Plan” means the Ameriprise Financial 401(k) Plan, as amended.

N.                                    “Participant” means an
eligible Employee who accrues benefits under the Plan.

O.                                   “Plan
Year” means the calendar year with reference to which benefits are determined
under the Plan.

 3
 

P.                                     “Qualified
Retirement Plan” means the Retirement Plan and the 401(k) Plan, as the
context may imply.

Q.                                   “Retirement
Plan” means the Ameriprise Financial Retirement Plan, as amended.

R.                                    “Section
401(a)(17) Limitation” refers to the limitation on the dollar amount of
Compensation which may be taken into account under the Qualified Retirement
Plans under Section 401(a)(17) of the Code.

S.                                     “Section
409A” means Section 409A of the Code, as amended, together with official
interpretations, guidance, or regulations issued thereunder.

T.                                     “Section
415 Limitations” refer to the limitations on benefits for defined benefit
pension plans and defined contribution plans which are imposed by Section 415
of the Code.

U.                                     “Senior
Executive Severance Plan” means the Ameriprise Financial Senior Executive Severance
Plan, as amended.

III.           ADMINISTRATION

A.                                    The Plan shall be
administered by the Administrator.  The
Administrator shall have full power, authority and discretion to interpret,
construe and administer the Plan, and such interpretation and construction
thereof and actions taken thereunder shall be binding on all persons for the
purposes so stated by the Administrator.

B.                                    The Administrator
may correct any defect, supply any omission or reconcile any inconsistency in
the Plan in the manner and to the extent the Administrator deems necessary or
desirable.  Any decision of the
Administrator in the administration of the Plan shall be final and conclusive
and binding upon all Participants and Beneficiaries.

IV.           ELIGIBILITY TO
PARTICIPATE IN THE PLAN

A.                                    Participation in
the Plan shall be limited to Employees who meet the requirements of Section
IV(B)(1) and (2) below, and shall automatically occur for such Employees,
provided that the Administrator may designate, on a case-by-case basis,
Employees or categories of Employees who shall not be eligible to participate
in all or any portion of the Plan.

B.                                    To become a
Participant in the Plan, an Employee must:

(1)                                 be a participant
under a Qualified Retirement Plan maintained by the Company.  Participation by an Employee in a Qualified
Retirement Plan shall be determined pursuant to and in accordance with the
eligibility criteria applicable under such Qualified Retirement Plan; and

(2)                                 for the relevant
Plan Year:

 4
 

(a)                                  be credited with
Compensation earned from the Company in an amount in excess of the applicable
Code Section 401(a)(17) Limitation or accrue benefits under a Qualified
Retirement Plan in excess of the Section 415 Limitation; or

(b)                                  have deferred
Compensation under a Deferral Plan and be classified as a level “Grade Band 50”
personnel or greater (as such classification is defined by the Compensation and
Benefits Committee from time-to-time); provided, however, that the Compensation
and Benefits Committee may, in its sole discretion, set a different required
pay level or grade for participation in the Plan.

V.            BENEFITS UNDER THE
PLAN

A.                                    Benefits
Under the Retirement Plan

For purposes of this Section V(A), capitalized
terms not otherwise defined herein shall have the same meaning set forth in the
Retirement Plan.

(1)                                 Benefits
in Excess of Limits Under the Retirement Plan

(a)                                  If a Participant
is a participant under the Retirement Plan, other than a terminated
participant, the Company shall establish a book reserve account to be
determined as follows:

(i)                                    Initial
Book Reserve Account Balance.  A
Participant’s initial book reserve account balance shall be zero unless the
Participant was a participant in the AXP Plan. 
A Participant who was a participant in the AXP Plan shall have an
initial book reserve account balance equal to his or her book reserve account
balance in the AXP Plan on September 30, 2005.

(ii)                                Contribution
Credits.  There shall be credited to a
Participant’s book reserve account, in accordance with Section V(D), an amount
equal to the excess, if any, of:  (x) the
Contribution Credits that would have been credited to a Participant’s Defined
Benefit Account Balance under the Retirement Plan for the Plan Year if the Plan’s
definition of Compensation was used,  the
Section 401(a)(17) Limitation was ignored, and the Participant had not elected
or been required to defer the receipt of any Compensation through non-qualified
deferrals pursuant to a Deferral Plan, over (y) the actual Contribution Credits
credited to the Participant’s Defined Benefit Account Balance under the
Retirement Plan for the Plan Year.  In
the event a Participant terminates from service as a result of a disability, as
determined under the Retirement Plan, this Section V(A)(1)(ii) will apply as if
the Section 401(a)(17)

 5
 

Limitation and Section 415 Limitations applied to the deemed
Compensation considered by the Retirement Plan.

(b)                                  Certain
Participants, as determined by the Company in its sole discretion, may be
deemed to have rendered five (5) additional Years of Service under the
Plan.  For each such Participant, subject
to such terms and conditions as the Company may impose upon such benefits by
special agreement with such Participant (in the event of a conflict with this
paragraph, such special agreement shall control), an additional amount shall be
credited to the Participant’s book reserve account equal to the excess, if any
of:  (x) the total cumulative
Contribution Credits that would have been credited to the Participant’s book
reserve account under Section V(A)(1)(a) had the Participant rendered such
additional Years of Service under the Retirement Plan, over (y) the actual
total cumulative Contribution Credits credited to the Participant’s book
reserve account under Section V(A)(1)(a) as of the date the Employee is
eligible for such benefits under the Plan. 
Subject to the terms of the special agreement with each such
Participant, such amounts shall be calculated and credited in accordance with
Section V(D) under procedures to be determined from time to time by the
Administrator and consistently applied to similarly situated Employees.  Unless otherwise determined by the
Administrator or agreed in a special agreement with the Participant, amounts
credited under this Section V(A)(1)(b) shall be subject to five (5) year
vesting, and such amounts shall be forfeited by the Participant if the
Participant’s service with the Company terminates for any reason other than
death or disability (as defined in the Retirement Plan) before five (5) years
of actual service have been rendered to the Company by such Participant.

(c)                                  The formula of
the benefits for a Plan Year under this Section V(A)(1) shall be determined by
the Administrator and applied in a uniform manner for all similarly situated
Employees.

(2)                                 Benefits
Restricted to Vested Portion

The benefits
credited under this Section V(A) at the time of distribution to a Participant
shall be restricted to a Participant’s vested portion.  Unless otherwise expressly provided in the
Plan, a Participant’s vested portion shall be determined under the vesting
provisions of the Retirement Plan.  Any
non-vested portion of amounts credited to a Participant hereunder shall be
forfeited.

(3)                                 Additional Accounts

The Administrator
may, in its sole and exclusive discretion, establish additional book reserve
accounts from time to time.  The
procedures to reflect and credit increases, decreases, interest, dividends, and
other income, gains and losses shall be determined by the Administrator in its
sole and exclusive discretion.

 6
 

B.                                    Benefits
in Excess of Limits Under the 401(k) Plan

For purposes of
this Section V(B), capitalized terms not otherwise defined herein shall have
the same meaning set forth in the 401(k) Plan.

If a Participant is
a participant in the 401(k) Plan for a Plan Year ending on or before December
31, 2006, the Company shall establish book reserve accounts under the Plan on
behalf of such Participant.  A Participant’s initial book
reserve account balance shall be zero unless the Participant was a participant
in the AXP Plan.  A Participant who was a
participant in the AXP Plan shall have an initial balance in each book reserve
account equal to such Participant’s book reserve account balance in the
equivalent account under the AXP Plan on September 30, 2005.  The following amounts shall be credited to
the Participant’s book reserve accounts as described in Section (V)(D):

(1)                                 Company
Stock Contribution Allocation.  For pay
periods ending on or before December 31, 2006, an amount shall be credited to
the Participant’s book reserve account for each Plan Year equal to:  (a) one-percent (1%), or such other amount as
may be set by the Compensation and Benefits Committee for some or all
Participants, of the sum of:  (i) the
Participant’s Compensation, calculated without the Section 401(a)(17)
Limitation or Section 415 Limitations, plus (ii) that portion of a Participant’s
Compensation deferred during such Plan Year pursuant to a Deferral Plan, minus
(b) the amount actually allocated as a Company Stock Contribution to the
account of the Participant under the 401(k) Plan.

(2)                                 Company
Profit-Sharing Contribution Allocation.  For pay
periods ending on or before December 31, 2006, an amount shall be credited to
the Participant’s book reserve account for each Plan Year equal to:  (a) the Company Profit-Sharing Contribution
percentage utilized for purposes of the 401(k) Plan for that Plan Year for such
Participant times the sum of:  (i) the
Participant’s Compensation, calculated without the Section 401(a)(17)
Limitation or Section 415 Limitations, plus (ii) that portion of a
Participant’s Compensation deferred during such Plan Year pursuant to a
Deferral Plan, minus (b) the amount actually allocated as a Company
Profit-Sharing Contribution to the account of the Participant under the 401(k)
Plan.  Unless otherwise expressly
provided in the Plan, Benefits credited under this Section V(B)(2) at the time
of distribution shall be restricted to a Participant’s vested portion as
determined under the applicable provisions of the 401(k) Plan.  Any non-vested portion of such deferred
compensation to be paid shall be forfeited.

(3)                                 Company
Matching Contribution Allocation.  For pay
periods ending on or before December 31, 2006, a Company matching contribution,
whether or not the Participant actually elects to defer Compensation under the
401(k) Plan, for each Plan Year equal to three percent (3%), or such other
amount as may be set by the Compensation and Benefits Committee for some or all
Participants, of:  (a) that portion of
the Participant’s Compensation which was deferred during the Plan Year pursuant
to a Deferral Plan, plus (b) that portion of the Participant’s Compensation
(not including the amounts deferred as described in clause (a)

 7
 

above) in excess of the Section
401(a)(17) Limitation, shall be contributed and allocated to the account of a
Participant by the Company as a matching contribution on behalf of such
Participant; provided, however, for purposes of this Company matching
contribution, Compensation shall not be subject to the Section 401(a)(17)
Limitation.

The Administrator may, in its
discretion, establish additional book reserve accounts from time to time.  The procedures to reflect and credit
increases, decreases, interest, dividends, and other income, gains and losses
shall be determined by the Administrator in its sole and exclusive discretion.

C.                                    Benefits Upon a
Change in Control

If a Participant who is eligible to
receive benefits under the Senior Executive Severance Plan experiences a
Defined Termination, then the Participant shall be entitled to an additional
benefit under this Plan in an amount equal to the contributions that would have
been made by the Company on behalf of the Participant under the Qualified
Retirement Plan, the Retirement Plan or this Plan (and other similar plans of
the Company), during a period equal to the number of weeks of severance pay to
which the Participant is entitled under the Senior Executive Severance Plan, as
in effect immediately prior to the Change in Control, assuming compensation per
week during such period of an amount equal to the Participant’s weekly
severance benefit under the Senior Executive Severance Plan (for avoidance of
doubt, without consideration of any offsets which may be provided in such plan
against severance benefits, such as termination pay, office closing amounts,
and the like).  The full amount of such
benefit shall be credited to the Participant’s book reserve accounts, as
described in Section (V)(D), effective as of the date of the Defined
Termination.

D.                                    Crediting
of Accounts

(1)                                 Amounts described
in this Section V shall be credited to a book reserve account established for a
Participant at such times and in such manner as may be determined by the
Administrator.  In making such credits,
the Administrator shall generally attempt to, but shall not be required to,
credit accounts at a time and in a manner as similar as possible to the time
and manner for the crediting of similar amounts under the Qualified Retirement
Plans; provided that, unless the Administrator determines otherwise, amounts
credited to an account with respect to the application of the Section 415
Limitations to the Retirement Plan shall be credited upon the commencement of
the benefit payment under the Retirement Plan, and may, pursuant to rules
determined by the Administrator, include for purposes of such calculation years
of service, compensation, and other crediting information accrued under the AXP
Plan.  The Administrator shall apply such
procedures consistently to similarly situated Participants.

(2)                                 Amounts described
in Section V(B)(1) shall be initially credited to a book reserve account
established for a Participant which shall be denominated in units (“Units”).  For purposes of the Plan, the price and value
of a Unit shall be

 8
 

determined by the Administrator in
a manner determined by the Administrator to be reasonably consistent with
similar determinations made under the 401(k) Plan Company Stock Fund (the “Stock
Fund”).

(3)                                 Amounts described
in Sections V(B)(2), V(B)(3) and V(C) shall be credited to a book reserve
account established for a Participant which shall contain various subaccounts
selected by the Administrator in its sole and exclusive discretion,
representing the various investment funds available to a Participant under the
401(k) Plan as provided for in the Plan; provided that, unless otherwise
determined by the Administrator, no subaccount shall be established under the
Plan to coincide with any self-directed brokerage account which may be available
under the 401(k) Plan.

E.                                      Payment
of Benefits

(1)                                 Any benefits
payable under the Plan shall be paid in cash from the general assets of the
Company in the form elected by the Participant subject to the following:

(a)                                  In accordance
with rules and procedures adopted by the Administrator in compliance with
Section 409A, existing Participants, including Participants (other than those
in pay status on December 31, 2004) who were participants under the AXP Plan,
may make distribution elections as follows:

(i)                                    Participants who
have not previously made an initial distribution election, whether under the
Plan or under the AXP Plan, may make such an initial election on or before the
date set by the Administrator.

(ii)                                Participants who have previously
made an initial distribution election, whether under the Plan or under the AXP
Plan, but who have not previously modified such election under paragraph
V(E)(1)(c), whether under the Plan or under the AXP Plan, may change such
distribution election on or before the date set by the Administrator, to elect
any payment form permissible under Section V(E)(1)(b) and Section 409A,
regardless of whether such distribution election lengthens or shortens the
period over which payments from the Plan shall be made.  For the avoidance of doubt, any such
distribution which accelerates payments from the Plan shall not cause any
reduction in the amounts otherwise payable hereunder.  Notwithstanding Section V(E)(1)(c), if made
on or before the date set by the Administrator in accordance with this
paragraph, such subsequent election shall be made in accordance with
Section 409A, but, to the extent permitted under Section 409A transition
guidance, need not comply with the requirement regarding a minimum additional
deferral period of five (5) years.  In
addition, an election made on or before the date

 9

set
by the Administrator that shortens the period over which payments from the Plan
shall be made is not subject to the requirement that such election be made
twelve (12) months prior to its effective date. 
However, any such subsequent election made under this paragraph shall
constitute a modification for purposes of the one (1) time limitation contained
in Section V(E)(1)(c), and no additional modification will thereafter be
permitted under Section V(E)(1)(c) hereof.

(iii)                            Employees who first become Participants after
December 31, 2005 may make an initial distribution election in accordance with
rules and procedures adopted by the Administrator in compliance with Section
409A.

(iv)                               Participants who
have previously made both a distribution election and a modification to such
distribution election, whether under the Plan or the AXP Plan, shall be subject
to the rules of Section V(E)(1)(c) prohibiting any further changes to their
distribution elections.  However, any such
Participant who was not in pay status under the AXP Plan on December 31, 2004
and who previously made a modification to an initial distribution election
which accelerated the time period for payments from the Plan shall not have any
reduction in the amounts otherwise payable hereunder (notwithstanding Section
V(E)(1)(b)(ii) of the AXP Plan).

(b)                                  A Participant may
elect to receive benefits in a single lump-sum payment or in annual
installments payable over a period of five (5), ten (10) or fifteen (15)
consecutive calendar years.  Except as provided in Section
V(E)(1)(c) below, a Participant may not modify such Participant’s initial
distribution election described in the preceding sentence.  Such election shall apply to the payment of
all benefits under the Plan, including benefits accrued under the AXP Plan
(except for benefits that were in pay status under the AXP Plan on December 31,
2004).

If a Participant fails to make a valid, timely distribution election in
accordance with Section V(E)(1)(a) and the rules and procedures adopted by the
Administrator, such Participant shall be deemed to have made an initial
distribution election to receive benefits in the form of a single lump sum.

Payment of benefits shall be made as follows:  (i) if a Participant has elected (or is
deemed to have elected) a lump sum payment, it shall be made on the first
January 1 or July 1 which is at least six (6) months following the Participant’s
separation from service for any reason from the Company, or as soon thereafter
as administratively feasible (provided, however, that all such payments made in
2006 shall be made on

July 1);

 10
 

and (ii) if a Participant has elected annual installment payments, they
shall begin on July 1 of the calendar year following the Participant’s
separation from service for any reason from the Company, or as soon thereafter
as administratively feasible, and shall continue on each July 1 thereafter for
the period selected by the Participant. 
A Participant who has experienced a separation from service, as defined
in Section 409A, and has begun receiving payments as set forth above, shall
continue receiving any remaining payments according to the terms in effect on
the date of such Participant’s separation from service, even if later
re-employed by the Company.

(c)                                  Change
in Payment Procedures.  A Participant who
has not previously modified an initial distribution election, whether under the
Plan or under the AXP Plan, may make a one (1) time modification to such
Participant’s initial distribution election to elect a payment form that
lengthens the period over which payments from the Plan shall be made.  To be effective, such a modification shall be
made by filing a written notice of modification in such form and manner as the
Administrator may prescribe; provided, however, that the modification must comply
with Section 409A, including requirements regarding:  (i) a minimum additional deferral period of
five (5) years; and (ii) the additional deferral election not being effective
until twelve (12) months after it is made. 
A Participant may not change the payment method after separation from
service.

(d)                                  The benefits of a
Participant under the Plan are subject to the terms of any severance plan of
the Company or an Affiliate applicable to such Participant, which plans may
provide for the reduction of such benefits in accordance with the terms
thereof.

(2)                                 Upon a
Participant’s death, benefits under the Plan shall be payable in cash to a
Participant’s Beneficiary designated pursuant to V(E)(3) below.  If a Participant dies while still actively
employed by the Company, such payment shall be made as a single lump-sum
payment on the first January 1 or July 1 which is at least six (6) months
following the Participant’s death.  If a
Participant elects annual installment payments and dies after such installment
payments have commenced, any remaining installment payments shall be made to
such Participant’s Beneficiary designated pursuant to V(E)(3) below as a single
lump-sum payment made on the first January 1 or July 1 which is at least six
(6) months following the Participant’s death.

(3)                                 A Participant
shall designate such Participant’s Beneficiary or Beneficiaries entitled to
receive benefits under the Plan by filing written notice of such designation
with the Administrator in such form as the Administrator may prescribe.  A Participant may revoke or modify such
designation at any time by a further written designation in such form as the
Administrator may prescribe. 
A Participant’s Beneficiary designation shall be deemed
automatically revoked in the event of the death of the Beneficiary or, if the
Beneficiary is the Participant’s

 11
 

spouse, in the event of dissolution
of marriage.  If no designation is in
effect at the time benefits payable under the Plan become due, the Beneficiary
shall be deemed to be the Participant’s surviving spouse, if any, and if not,
the Participant’s estate.

(4)                                 Upon the request
of a Participant and based on a showing of an unforeseeable emergency as
defined by Section 409A, the Administrator may, in its sole discretion, vary
the manner and time of making the distributions provided in this Section V(E)
to the extent permitted by Section 409A.

F.                                      Subaccounts,
Investment Performance and Transfers

(1)                                 For each
Participant, the book reserve accounts established pursuant to Section V(A)
shall be increased by the Imputed Earnings Credit (as such term is defined in
the Retirement Plan), not less frequently than annually, under procedures and
at times determined by the Administrator and consistently applied for similarly
situated Participants.  Such earnings
shall be credited at the same interest rate and computed in a similar manner
(to the extent administratively feasible) as Imputed Earnings Credits are
computed under the Retirement Plan for each Plan Year.

(2)                                 Subject to
Section V(F)(4) below, and to such rules as may be adopted by the
Administrator, the performance of the book reserve account established for each
Participant pursuant to Section V(E)(2) shall reflect the performance of the
Stock Fund.  Such book reserve account
shall reflect such increases or decreases in value from time to time, whether
from dividends, gains, losses or otherwise, as may be experienced by the Stock
Fund.  Subject to Section VI hereof, and
to such rules as may be adopted by the Administrator, a Participant may elect to
transfer credits to the book reserve account established pursuant to Section
V(E)(2) to or from such account to or from one or more subaccounts established
pursuant to Section V(E)(3), in a manner similar to the rules for such
transfers under the 401(k) Plan.

Notwithstanding
the above, effective immediately upon a Change in Control, to the extent a book
reserve account established on behalf of a Participant reflects, or by the
terms of the Plan should in the future reflect, the performance of the Stock Fund,
it shall thereafter reflect the performance of the 401(k) Plan Income Fund.

(3)                                 For each
Participant, credits to the book reserve account established pursuant to
Section V(E)(3) shall be made to such subaccounts thereunder as directed by
such Participant.  If more than one
subaccount is selected, a Participant must designate, on a form or other medium
acceptable to the Administrator, in one percent (1%) increments, the amounts to
be credited to each subaccount.  A
Participant shall be allowed to amend such designation consistent with the
frequency of investment changes offered the Participant under rules governing
the 401(k) Plan for a given Plan Year.

Subject to
Section V(F)(4) below, for each Participant, the performance of such
subaccounts shall reflect the performance of the investment fund under the
401(k)

 12
 

Plan that such
subaccount represents.  Each such
subaccount shall reflect such increases or decreases in value from time to
time, whether from dividends, gains, losses or otherwise, as that experienced
by the related investment fund under the 401(k) Plan.  Subject to Section VI hereof, credits to such
subaccounts may be transferred to any other subaccount under the Plan on such
terms and at such times as permitted with respect to the related investment
funds under the 401(k) Plan, and to such rules as may be adopted by the
Administrator.  If a Participant fails to
affirmatively designate one or more subaccounts pursuant to this
Section V(F)(3), subject to rules established by the Administrator, such
Participant shall be deemed to have selected either a default account selected
by the Administrator or, to the extent feasible, the subaccount(s) that relate
to the Participant’s investment direction under the 401(k) Plan; provided,
however, to the extent an Insider has directed 401(k) Plan amounts to the Stock
Fund, such Insider shall be deemed to have selected the subaccount relating to
the 401(k) Plan Income Fund. 
Notwithstanding the foregoing, the Administrator may, in its sole
discretion, provide that one or more investment funds available under the
401(k) Plan, including any self-directed brokerage account which may be
available under the 401(k) Plan, shall not be available for designation under
the Plan.

(4)                                 Subject to
Section V(E)(3), the subaccounts shall be valued subject to such reasonable
rules and procedures as the Administrator may adopt and apply to all
Participants similarly situated with an effort to value such subaccounts as if
amounts designated were invested in at similar times and in manners, subject to
administrative convenience, as amounts are invested, and subject to the same
market fluctuation factors used in valuing such investments in the 401(k) Plan.

VI.           SPECIAL RESTRICTIONS

A.                                    The provisions of
this Section VI shall apply to Insiders. 
Such provisions shall apply during all periods that Insiders are subject
to reporting under Section 16(a) of the Securities Exchange Act of 1934, as
amended (“Exchange Act”), including any period following cessation of Insider
status during which such Insiders are required to report transactions pursuant
to Rule 16a-2(b) (or its successor) under the Exchange Act.

At such time as
any Insider ceases to be subject to Section 16(a) reporting (and any period
contemplated by Rule 16a-2(b) has expired), this Section VI shall cease to be
applicable to such Participant.

B.                                    This Section VI
shall be automatically applicable to any person who, on and after the date
hereof, becomes an Insider.  For purposes
of the foregoing, the effective date of this Section shall be the date the
person becomes an Insider.

C.                                    Notwithstanding
anything in the Plan to the contrary, (1) except as set forth below, credits to
the account of an Insider pursuant to Section V(D) may not be made to any
subaccount that reflects the performance of the Stock Fund, (2) credits made
pursuant to Section V(D) to the account of an Insider at any time may not be
transferred to any book

 13
 

reserve account or subaccount that reflects the performance of the
Stock Fund, and (3) credits made to an Insider’s book reserve account
pursuant to Section V(D)(2) at any time and credits to the account of an
Insider pursuant to Section V(D) that were made to a subaccount that reflects
the performance of the Stock Fund (which credits could only have been made when
such individual was not an Insider) may not be transferred, withdrawn, paid out
or otherwise changed, other than (a) pursuant to Section V(D)(1) or (2)
(but only at such time as such person is no longer an Insider), or (b) pursuant
to the forfeiture provisions contained in the last sentence of Section V(B)(2).

D.                                    It is intended
that the crediting of amounts to the accounts of Insiders that represents the
performance of the Stock Fund is intended to qualify for exemption from Section
16 under Rule 16b-3(d) under the Exchange Act. 
The Administrator shall, with respect to Insiders, administer and
interpret all Plan provisions in a manner consistent with such exclusion.

VII.         CLAIMS PROCEDURES

A.                                    A Participant or
Beneficiary who believes that he or she is being denied a benefit to which he
or she is entitled under the Plan may file a written request for such benefit
with the Administrator, setting forth his or her claim for benefits.

B.                                    The Administrator
shall reply to any claim filed under Section VII(A) within ninety (90) days of
receipt, unless it determines to extend such reply period for an additional
ninety (90) days for reasonable cause. 
If the claim is denied in whole or in part, such reply shall include a
written explanation, using language calculated to be understood by the
Participant or Beneficiary, setting forth:

(1)                                 the specific
reason or reasons for such denial;

(2)                                 the specific
reference to relevant provisions of the Plan on which such denial is based;

(3)                                 a description of
any additional material or information necessary for the Participant or
Beneficiary to perfect his or her claim and an explanation why such material or
such information is necessary;

(4)                                 appropriate
information as to the steps to be taken if the Participant or Beneficiary
wishes to submit the claim for review;

(5)                                 the time limits
for requesting a review under Sections VII(C) and (D); and

(6)                                 the Participant’s
or Beneficiary’s right to bring an action for benefits under Section 502 of
ERISA.

C.                                    Within sixty (60)
days after the receipt by the Participant or Beneficiary of the written
explanation described above, the Participant or Beneficiary may request in
writing that the Administrator review its determination.  The Participant or Beneficiary, or his or her

 14
 

duly authorized representative,
may, but need not, review the relevant documents and submit issues and comment
in writing for consideration by the Administrator.  If the Participant or Beneficiary does not
request a review of the initial determination within such sixty (60) day period,
the Participant or Beneficiary shall be barred and estopped from challenging
the determination.

D.                                    After considering
all materials presented by the Participant or Beneficiary, the Administrator
will render a written decision, setting forth the specific reasons for the
decision and containing specific references to the relevant provisions of the
Plan on which the decision is based.  The
decision on review shall normally be made within sixty (60) days after the Administrator’s
receipt of the Participant’s or Beneficiary’s claim or request.  If an extension of time is required for a
hearing or other special circumstances, the Participant or Beneficiary shall be
notified and the time limit shall be one hundred twenty (120) days.  The decision shall be in writing and shall
state the reasons and the relevant Plan provisions and the Participant’s or
Beneficiary’s right to bring an action for benefits under Section 502 of
ERISA.  All decisions on review shall be
final and shall bind all parties concerned.

E.                                      No legal or equitable action for
benefits under the Plan may be brought after the earliest of ninety (90) days
after the claim denial or one year after the date the cause of action
accrued.  For this purpose, a cause of
action is considered to have accrued when the person bringing the legal action
knew, or in the exercise of reasonable diligence should have known, that a plan
party has clearly repudiated the claim or legal position which is the subject
of the action, regardless of whether such person has filed a claim for
benefits.  The Administrator’s decisions
are final.

VIII.        GENERAL PROVISIONS

A.                                    Nothing in the
Plan shall create, or be construed to create, a trust of any kind or fiduciary
relationship between the Company and the Participant, such Participant’s
designated Beneficiary, or any other person. 
Any funds deferred under the provisions of the Plan shall be construed
for all purposes as a part of the general funds of the Company, and any right
to receive payments from the Company under the Plan shall be no greater than
the right of any unsecured general creditor. 
The Company may, but need not, purchase any securities or instruments as
a means of hedging its obligations to any Participant under the Plan.

B.                                    The right of any
Participant, or other person, to the payment of deferred compensation under the
Plan shall not be assigned, transferred, pledged or encumbered except by the
laws of descent and distribution.

C.                                    Participation in
the Plan shall not be construed as conferring upon the Participant the right to
continue in the employ of the Company as an executive or in any other
capacity.  The Company expressly reserves
the right to dismiss any employee at any time without liability for the effect
such dismissal might have upon such employee hereunder.

 15
 

D.                                    Any deferred
compensation payable under the Plan shall not be deemed salary or other
compensation to the Participant for the purpose of computing the benefits under
any plan or arrangement (including but not limited to any “employee benefit
plan” under ERISA) except as expressly provided in such plan or arrangement.

E.                                      The Company makes
no representations or warranties and assumes no responsibility as to the tax
consequences to any Participant who enters into a deferred compensation
agreement with the Company pursuant to the Plan.  Further, payment by the Company to a
Participant (or to a Participant’s Beneficiary or Beneficiaries) in accordance
with the terms of the Plan, including any designation of Beneficiary on file
with the Administrator at the time of such Participant’s death, shall be
binding on all interested parties and persons, including such Participant’s
heirs, executors, administrators and assigns, and shall discharge the Company,
its directors, officers and employees from all claims, demands, actions or
causes of action of every kind arising out of or on account of Participant’s
participation in the Plan, known or unknown, for himself or herself, his or her
heirs, executors, administrators and assigns. 
Any agreement executed pursuant to the Plan shall be deemed to include
the above provision of this Section VIII(E).

F.                                      The Board of
Directors or its delegate may, at any time, amend or terminate the Plan,
provided that the Board may not reduce or modify the amount of any benefit
payable to a Participant or any Beneficiary receiving benefit payments at the
time the Plan is amended or terminated.

G.                                    The Administrator
may prescribe a form of agreement to be used by a Participant and the Company,
to the extent deemed necessary, to defer compensation under the Plan.

H.                                    The Plan and all
actions taken hereunder shall be governed by and construed in accordance with
the laws of the state of New York.

I.                                         Notwithstanding
the above and any other provision herein to the contrary, to the extent
permitted by Section 409A without excise tax or penalty, effective immediately
upon a Change of Control, the entire value of each Participant’s book reserve
accounts under the Plan shall be maintained in a trust (the “Trust”)
established by the Company for this purpose and the Company shall transfer to
the Trust an amount sufficient to fund the entire value of each Participant’s
book reserve accounts.  The Trust is
intended to be classified for federal income tax purposes as a “grantor trust”
within the meaning of Subpart E, Part I, Subchapter J, Chapter 1, Subtitle
A of the Code.

J.                                      Notwithstanding
anything in the Plan, the Retirement Plan or the 401(k) Plan to the contrary,
any amount otherwise due or payable under the Plan may be forfeited, or its
payment suspended, at the discretion of the Administrator, to apply toward or
recover any claim the Company may have against the Participant, including but
not limited to, for the enforcement of the Company’s Detrimental Conduct
Provisions under its long-term incentive award plan, to recover a debt to the
Company or to recover a benefit overpayment under a Company benefit plan or
program.

 16
 

K.                                    The Company shall
be entitled to deduct from any payment under the Plan, regardless of the form
of such payment, the amount of all applicable income and employment taxes, if
any, required by law to be withheld with respect to such payment or may require
the Participant to pay to it such tax prior to and as a condition of the making
of such payment.

L.                                     No person
connected with the Plan in any capacity, including, but not limited to, the
Company and its directors, officers, agents and employees, makes any
representation, commitment, or guarantee that any tax treatment, including, but
not limited to, Federal, state and local income, estate and gift tax treatment,
will be applicable to any amounts deferred under the Plan, or paid to or for
the benefit of a Participant or Beneficiary under the Plan, or that such tax
treatment will apply to or be available to a Participant or Beneficiary on
account of participation in the Plan.

M.                                  Neither the
establishment of the Plan nor any modification thereof, nor the creation of any
account under the Plan, nor the payment of any benefits under the Plan shall be
construed as giving to any Participant or other person any legal or equitable
right against the Company, or any officer or employer thereof except as
provided by law or by any Plan provision. 
No person (including the Company) in any way guarantees any Participant’s
book reserve account from loss or depreciation, whether caused by poor
investment performance of a deemed investment or the inability to realize upon
an investment due to an insolvency affecting an investment vehicle or any other
reason.  In no event shall the Company or
any successor, employee, officer, director or stockholder of the Company, be
liable to any person on account of any claim arising by reason of the
provisions of the Plan or of any instrument or instruments implementing its
provisions (except that the Company shall make benefit payments in accordance
with the terms of the Plan), or for the failure of any Participant, Beneficiary
or other person to be entitled to any particular tax consequences with respect
to the Plan, or any credit or distribution hereunder.

N.                                    If any provision
of the Plan is held to be illegal or void, such illegality or invalidity shall
not affect the remaining provisions of the Plan, but shall be fully severable,
and the Plan shall be construed and enforced as if said illegal or invalid
provision had never been inserted herein. 
For all purposes of the Plan, where the context admits, the singular
shall include the plural, and the plural shall include the singular.  Headings of Articles and Sections herein are
inserted only for convenience of reference and are not to be considered in the
construction of the Plan.

O.                                   The Plan is intended to comply with
Section 409A, and shall be interpreted, operated and administered consistent
with this intent.  To the extent the
terms of the Plan fail to qualify for exemption from or to satisfy the
requirements of Section 409A, the Plan may be operated in compliance with
Section 409A pending amendment to the extent authorized by the Internal Revenue
Service.  In such circumstances, the Plan
will be administered in a manner which adheres as closely as possible to its
existing terms while complying with Section 409A.

*  *  * 
*  *

 17

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}]]