Document:

EXHIBIT 10.6

                          ADMINISTRATION AGREEMENT

                                  between

                 GOLDMAN SACHS HEDGE FUND PARTNERS II, LLC

                                    and

                        GOLDMAN SACHS PRINCETON LLC

<PAGE>

                          ADMINISTRATION AGREEMENT

     AGREEMENT effective as of the 1st day of August, 2003, between GOLDMAN
SACHS HEDGE FUND PARTNERS II, LLC, a limited  liability  company  organized
under the laws of Delaware ("HFP II LLC"), and GOLDMAN SACHS PRINCETON LLC,
a  limited  liability  company  organized  under  the laws of the  State of
Delaware (the "Administrator").

                                WITNESSETH:

     WHEREAS,  the Fund  desires  to  retain  the  Administrator  to render
certain financial,  accounting and administrative services on behalf of the
Fund in the manner and on the terms herein set forth and the  Administrator
has agreed to render such services.

     NOW,  THEREFORE,  in  consideration of the premises and the respective
agreements  hereinafter   contained,   and  for  other  good  and  valuable
consideration,   the   receipt   and   sufficiency   of  which  are  hereby
acknowledged, the Fund and the Administrator hereby agree as follows:

     PART I.   SERVICES OF THE ADMINISTRATOR

     1.1 Financial, Accounting and Administrative Duties. The Administrator
shall be responsible for performing the following financial, accounting and
administrative  duties and functions necessary or appropriate in connection
with the activities of the Fund:

     (a) establishing and maintaining such bank,  brokerage,  custodian and
     other  accounts as may be necessary or advisable and to transfer funds
     and securities on behalf of the Fund;

     (b) computing  periodic  estimates of the Net Asset Value of series of
     ordinary shares of the Fund ("Shares"), and reporting such to the Fund
     in accordance with the reasonable instructions of the Fund;

     (c)  computing  the  monthly Net Asset Value of series of Shares as of
     the close of  business on the last day of each  month,  and  reporting
     such to the Fund in accordance with the reasonable instructions of the
     Fund;

     (d) preparing and maintaining  all customary  financial and accounting
     books and  records in  appropriate  form and in  sufficient  detail to
     support an annual independent audit of the financial  condition of the
     Fund, and the administration thereof; and

     (e)  preparing  and  delivering  periodic  reports  to  the  Fund  for
     distribution to its investors.

     1.2  Registrar and Transfer  Agent.  The  Administrator  may act as or
engage,  subject to the consent and continuing  approval of the Fund, which
consent  may be  revoked  at any  time,  an agent to act as  registrar  and
transfer  agent (the  "Registrar  and Transfer  Agent") with respect to the
Shares and, in that capacity, the Registrar and Transfer Agent, shall:

     (a)  maintain a register or  registers of the holders of Shares in the
     Fund (the  "Registers") and without prejudice to the generality of the
     foregoing   enter  on  each  such  Register  all  original  issues  or
     allotments  of Shares and all  transfers of such  Shares,  prepare all
     such lists of shareholders of the Fund and supply all such information
     relating  thereto,  as the  Directors  may from time to time  require;
     register  probates,  letters of  administration,  powers of  attorney,
     certificates  of death or marriage and other  documents;  and hold the
     said Register or Registers  open to inspection at the transfer  office
     of the Fund on  weekdays  (Saturdays  and  Public  Holidays  excepted)
     during usual business hours;

     (b)  prepare and issue all  dividend  warrants  and other  instruments
     representing  moneys  due to  shareholders  and  maintain  a record of
     dividend mandates, and other instructions received by it from holders,
     regarding Shares;

     (c) take reasonable and proper precautions for the safe custody of the
     Register and of all other  documents held by it in the  performance of
     its duties;

     (d) carry out the issue,  transfer and  redemption  of Shares both per
     Share and for the Fund as a whole, and timely  communicate the same to
     the Fund;

     (e)  carry   out   procedures   associated   with  the   issuance   of
     non-certificated Shares;

     (f) forthwith on receipt pay to or deposit with or to the order of the
     Fund all moneys and securities received on behalf of the Fund;

     (g) within the guidelines laid down by the Fund deal with and reply to
     all correspondence and other  communications  addressed to the Fund in
     relation  to the  subscription,  exchange,  replacement,  purchase  or
     transfer (and where relevant conversion) of Shares in the Fund;

     (h) dispatch to the shareholders and Ernst & Young,  LLP,  auditors of
     the Fund (the "Auditors"), and to any other person entitled to receive
     the same, copies of such notices,  reports,  financial  statements and
     other written  material  supplied to it by or on behalf of the Fund or
     as may be requested by or on behalf of the Fund;

     (i) arrange for a  representative  of the Registrar and Transfer Agent
     to attend at board  meetings and general  meetings of the Fund when so
     required by the Fund in order to provide information or record keeping
     services and assemble any  documentation  required at or in connection
     with such meetings;

     (j)  mail  to  shareholders  notices,  proxies  and  proxy  statements
     prepared by or on behalf of the Fund in connection with the holding of
     meetings of shareholders;

     (k) act as may be  required  by the  Fund  from  time to time as proxy
     agent in  connection  with the holding of  meetings  of  shareholders,
     receive and tabulate  votes cast by proxy and  communicate to the Fund
     the  results  of  such  tabulation   accompanied  by  the  appropriate
     certificates;

     (l) have  power to incur on behalf of the Fund such  amounts as may be
     required  from time to time by it in order to enable it to perform its
     duties  hereunder  for the  account  of the Fund and  discharge  other
     proper expenses of the Fund to be borne by the Fund;

     (m)  supply  to the  Directors,  upon  request,  such  information  in
     connection  with  the  Fund  or any  Shares  therein  as may be in its
     possession, or may reasonably be obtained or provided by it;

     (n) at any time during the  Registrar  and Transfer  Agent's  business
     hours   permit  the  Auditors   and  any  duly   appointed   agent  or
     representative  of the  Fund at the  expense  of the  Fund to audit or
     inspect the Registrar  and any other  documents or records kept by and
     still in the possession of the Registrar and Transfer Agent  hereunder
     and make available all such documents and records in its possession to
     such Auditors,  agent or representative during business hours whenever
     reasonably   required   to  do  and  afford   all  such   information,
     explanations and assistance as such Auditors,  agent or representative
     may require;

     (o) assist in the  maintenance of the records and accounts of the Fund
     in such manner as will  enable the Fund to publish  yearly and monthly
     its financial statements as may be required;

     (p) assist as required by the Fund in the annual  report and  accounts
     of the  Fund and any  other  accounting  statements  to be sent to the
     shareholders of the Fund; and

     (q) generally perform other incidental duties as would be necessary to
     its duties under the Transfer Agency Agreement;

PROVIDED  THAT in all such cases the duties are carried  out in  accordance
with the  constitutional  documents of the Fund and in accordance  with any
applicable law.

     1.3  Compensation
          ------------

     (a) As compensation for its services to GTT II LLC, the  Administrator
     shall  receive a monthly fee equal to  approximately  (0.0167%) of the
     month-end  net assets of GTT II LLC (which  equals twenty basis points
     (0.20%) per annum);  provided the  Administrator  will not charge this
     fee on any  portion  of the  assets of GTT II LLC  attributable  to an
     investment  in any pooled  vehicle  for which the  Administrator  also
     receives a fee for such  services.  For purposes of  determining  this
     fee,  net assets  shall not be reduced to reflect  any  current  month
     Management Fee or year to date accrued Incentive Allocation.

     (b) Such fees shall be payable monthly in arrears.

     (c) The  parties  agree  that the  agreed  upon  fees are  subject  to
     immediate  renegotiation  if  at  any  time  the  Fund  begin  trading
     instruments  other than those  disclosed to the  Administrator  on the
     date  hereof.  In such event,  the parties  agree to negotiate in good
     faith.

     PART II.  GENERAL PROVISIONS

     2.1  Delivery  of  Documents.  The  Fund  agrees  to  deliver  to  the
Administrator   true  copies  of  all  documents  and  information  as  the
Administrator shall reasonably request from time to time in connection with
the discharge of its duties hereunder.

     2.2 Reasonable Reliance. In the performance of its duties specified in
Part  I  of  this  Agreement,   the   Administrator  is  relying  upon  the
determination  of the Fund that all fees and expenses  incurred by the Fund
are reasonable and legal.

     2.3  Personnel.  The  Administrator  shall at all times and at its own
expense  maintain and make available to the Fund  qualified  accounting and
clerical  personnel  suitable  for the  performance  of the  duties  of the
Administrator.

     2.4 Scope of Liabilities. The Administrator shall not be liable to the
Fund or the  investors of the Fund for any loss,  damage,  expense or claim
occasioned by any act or omission of the  Administrator  in connection with
the  performance of its services  hereunder,  other than as a result of its
gross negligence,  willful  misconduct or reckless  disregard of its duties
hereunder.

     2.5 Indemnification. The Fund shall indemnify the Administrator (which
shall   include   solely  for  the   purposes  of  this   Section  2.5  the
Administrator's directors,  officers,  employees,  agents and shareholders)
against, and hold it harmless from, any expense,  loss, liability or damage
arising out of any claim asserted or threatened to be asserted by any third
party in  connection  with the  Administrators  serving or having served as
such pursuant to this Agreement;  provided, however, that the Administrator
shall not be entitled to such  indemnification with respect to any expense,
loss, liability or damage which was caused by the Administrator's own gross
negligence,   willful  misconduct  or  reckless  disregard  of  its  duties
hereunder.

     2.6 Books and Records.  All books, records and other written documents
received or prepared  by the  Administrator  on behalf of the Fund shall be
the exclusive  property of the Fund. Except as otherwise  authorized by the
Fund, all such books, records and other written documents (other than those
which are not of a material nature) shall be preserved by the Administrator
for a period  of at least  six years or until  they are  delivered  to duly
appointed   successors  to  the  Administrator  upon  termination  of  this
Agreement.

     2.7  Confidential   Relationship.   Except  as  contemplated  by  this
Agreement or as otherwise  required by law, the  Administrator  shall treat
all  information  pertaining  to the  investments,  ownership  and business
affairs of the Fund as confidential and shall not disclose such information
to any  persons  other than  officers,  auditors,  legal  advisors or other
authorized agents of the Fund.

     2.8  Non-Exclusivity.  The nature of the  duties of the  Administrator
hereunder shall not preclude the Administrator from providing services of a
comparable nature to any other person.  In addition,  it is understood that
the individuals who will participate on behalf of the  Administrator in the
performance of its duties under this Agreement will not necessarily  devote
their full time thereto,  and nothing  contained  herein shall be deemed to
limit or  otherwise  restrict or affect their right to engage in and devote
time and  attention  to other  businesses  or to render  other  services of
whatever kind or nature.

     2.9 Term and Termination. This Agreement shall have an initial term of
twelve months  commencing as of the date of this  Agreement and  thereafter
shall be automatically  renewed for successive terms of twelve months each,
unless sooner  terminated by any party at any time,  without penalty,  upon
not less than thirty (30) days written notice to the other parties.

     2.10  Assignment.  This Agreement may not be assigned by either of the
parties without the prior written consent of the other party.

     2.11 Waiver or  Modification.  The provisions of this Agreement  shall
not be waived or  modified  other than by means of a writing  signed by the
party to be charged with such waiver or modification.

     2.12 Governing Law. This Agreement  shall be governed by and construed
in accordance with the laws of the State of New York.

     2.13 Notices.  Except as otherwise provided herein, all communications
hereunder shall be in writing and shall be delivered, telexed or telecopied
and  confirmed in writing,  sent by  registered  air mail, to the requisite
party, at its address as follows:

          If to Administrator:
          -------------------

          Goldman Sachs Princeton LLC
          701 Mt. Lucas Road
          Princeton, New Jersey 08540
          Attention:  General Counsel
          Telefax:  (609) 497-5720

          If to the Fund:
          --------------

          Goldman Sachs Hedge Fund Partners II, LLC
          701 Mt. Lucas Road
          Princeton, New Jersey 08540
          Telefax:  (609) 497-5720

or to such other  address as to which the party  receiving the notice shall
have notified the other party in writing.

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the day and year first written above.

                  GOLDMAN SACHS HEDGE FUND PARTNERS II, LLC
                  By Goldman Sachs Princeton LLC, as Managing Member

                  By:  /s/ Kent A. Clark
                       --------------------------------
                  Name:  Kent A. Clark
                  Title:  Director

                  GOLDMAN SACHS PRINCETON LLC

                  By: /s/ John V. Lanza
                      ---------------------------------
                  Name:  John V. Lanza
                  Title:  Vice PresidentBANTA CORPORATION
2005
EQUITY INCENTIVE PLAN  

Section 1.     Purpose 

        The
purpose of the Banta Corporation 2005 Equity Incentive Plan (the “Plan”), is to
promote the best interests of Banta Corporation (together with any successor thereto, the
“Company”) and its shareholders by providing key employees of the Company and
its Affiliates (as defined below) and members of the Company’s Board of Directors who
are not employees of the Company or its Affiliates with an opportunity to acquire a
proprietary interest in the Company. It is intended that the Plan will promote continuity
of management and increased incentive and personal interest in the welfare of the Company
by those key employees who are primarily responsible for shaping and carrying out the
long-range plans of the Company and securing the Company’s continued growth and
financial success. In addition, by encouraging stock ownership by directors who are not
employees of the Company or its Affiliates, the Company seeks to attract and retain on its
Board of Directors persons of exceptional competence and to provide a further incentive to
serve as a director of the Company. 

Section 2.     Definitions 

        As
used in the Plan, the following terms shall have the respective meanings set forth below: 

        (a)          “Affiliate” shall
mean any entity that, directly or through one or           more intermediaries, is
controlled by, controls, or is under common control           with, the Company.  

        (b)          “Award” shall
mean any Option, Stock Appreciation Right or Restricted           Stock granted under the
Plan.  

        (c)          “Award
Agreement” shall mean any written agreement, contract, or other           instrument
or document evidencing any Award granted under the Plan.  

        (d)          “Code” shall
mean the Internal Revenue Code of 1986, as amended from           time to time.  

        (e)          “Commission” shall
mean the United States Securities and Exchange           Commission or any successor
agency.  

        (f)          “Committee” shall
mean a committee of the Board of Directors of the           Company designated by such
Board to administer the Plan and composed of not less           than two directors, each
of whom is a “non-employee director for purposes           of Section 16” within
the meaning of Rule 16b-3 and each of whom is an           “outside director” within
the meaning of Section 162(m)(4)(C) of the           Code (or any successor provision
thereto).  

        (g)          “Exchange
Act” shall mean the Securities Exchange Act of 1934, as           amended from time
to time.  

        (h)          “Excluded
Items” shall mean any items which the Committee determines           shall be
excluded in fixing Performance Goals, such as any gains or losses from
          discontinued operations, any extraordinary gains or losses and the effects of
          accounting changes.  

        (i)          “Fair
Market Value” shall mean, with respect to any property           (including, without
limitation, any Shares or other securities), the fair market           value of such
property determined by such methods or procedures as shall be           established from
time to time by the Committee.  

        (j)          “Incentive
Stock Option” shall mean an option granted under Section           6(a) of the Plan
that is intended to meet the requirements of Section 422 of the           Code (or any
successor provision thereto).  

        (k)          “Key
Employee” shall mean any officer or other key employee of the           Company or
of any Affiliate who is responsible for or contributes to the           management,
growth or profitability of the business of the Company or any           Affiliate as
determined by the Committee.  

        (l)          “Non-Employee
Director” shall mean any member of the Company’s           Board of Directors
who is not an employee of the Company or of any Affiliate.  

        (m)          “Non-Qualified
Stock Option” shall mean an option granted under           Section 6(a) of the Plan
that is not intended to be an Incentive Stock Option           and shall mean any option
granted to a Non-Employee Director under Section 6(b)           of the Plan.  

        (n)          “Option” shall
mean an Incentive Stock Option or a Non-Qualified Stock           Option.  

        (o)          “Participating
Key Employee” shall mean a Key Employee designated to           be granted an Award
under the Plan.  

        (p)          “Performance
Goals” shall mean the following (in all cases after           excluding the impact
of applicable Excluded Items):  

	 	        (i)          Return
on equity for the Performance Period for the Company on a consolidated           basis.  

	 	        (ii)          Return
on investment for the Performance Period (aa) for the Company on a           consolidated
basis, (bb) for any one or more Affiliates or divisions of the           Company and/or
(cc) for any other business unit or units of the Company as           defined by the
Committee at the time of selection.  

	 	        (iii)          Return
on net assets for the Performance Period (aa) for the Company on a           consolidated
basis, (bb) for any one or more Affiliates or divisions of the           Company and/or
(cc) for any other business unit or units of the Company as           defined by the
Committee at the time of selection.  

	 	        (iv)          Economic
value added (as defined by the Committee at the time of selection) for           the
Performance Period (aa) for the Company on a consolidated basis, (bb) for           any
one or more Affiliates or divisions of the Company and/or (cc) for any other
          business unit or units of the Company as defined by the Committee at the time
of           selection.  

-2- 

	 	        (v)
         Earnings from operations for the Performance Period (aa) for the Company on a
          consolidated basis, (bb) for any one or more Affiliates or divisions of the
          Company and/or (cc) for any other business unit or units of the Company as
          defined by the Committee at the time of selection.  

	 	        (vi)
         Pre-tax profits for the Performance Period (aa) for the Company on a
          consolidated basis, (bb) for any one or more Affiliates or divisions of the
          Company and/or (cc) for any other business unit or units of the Company as
          defined by the Committee at the time of selection.  

	 	        (vii)
         Net earnings for the Performance Period (aa) for the Company on a consolidated
          basis, (bb) for any one or more Affiliates or divisions of the Company and/or
          (cc) for any other business unit or units of the Company as defined by the
          Committee at the time of selection.  

	 	        (viii)
         Net earnings per Share for the Performance Period for the Company on a
          consolidated basis.  

	 	        (ix)
         Working capital as a percent of net sales for the Performance Period (aa) for
          the Company on a consolidated basis, (bb) for any one or more Affiliates or
          divisions of the Company and/or (cc) for any other business unit or units of
the           Company as defined by the Committee at the time of selection.  

	 	        (x)          Net
cash provided by operating activities for the Performance Period (aa) for           the
Company on a consolidated basis, (bb) for any one or more Affiliates or
          divisions of the Company and/or (cc) for any other business unit or units of
the           Company as defined by the Committee at the time of selection.  

	 	        (xi)          Market
price per Share for the Performance Period.  

	 	        (xii)          Total
shareholder return for the Performance Period for the Company on a           consolidated
basis.  

        (q)          “Performance
Period” shall mean any period for which a Performance           Goal or Goals have
been established; provided, however, that such period shall           not be less than
one year.  

        (r)          “Person” shall
mean any individual, corporation, partnership,           association, joint-stock
company, trust, unincorporated organization, or           government or political
subdivision thereof.  

        (s)          “Released
Securities” shall mean Shares of Restricted Stock with           respect to which
all applicable restrictions have expired, lapsed, or been           waived.  

        (t)          “Restricted
Securities” shall mean Awards of Restricted Stock or other           Awards under
which issued and outstanding Shares are held subject to certain           restrictions.  

        (u)          “Restricted
Stock” shall mean any Share granted under Section 6(d) of           the Plan.  

-3-  

        (v)          “Rule
16b-3” shall mean Rule 16b-3 as promulgated by the Commission           under the
Exchange Act, or any successor rule or regulation thereto.  

        (w)          “Shares” shall
mean shares of common stock of the Company, $.10 par           value, and such other
securities or property as may become subject to Awards           pursuant to an
adjustment made under Section 4(b) of the Plan.  

        (x)          “Stock
Appreciation Right” shall mean any right granted under Section           6(c) of the
Plan.  

Section 3.     Administration 

        The
Plan shall be administered by the Committee; provided, however, that if at any time
the Committee shall not be in existence, the functions of the Committee as specified in
the Plan shall be exercised by a committee consisting of those members of the Board of
Directors of the Company who qualify as “non-employee directors for purposes of
Section 16” under Rule 16b-3 and as “outside directors” under Section
162(m)(4)(C) of the Code (or any successor provision thereto). To the extent permitted by
applicable law, the Committee may delegate to one or more executive officers of the
Company any or all of the authority and responsibility of the Committee with respect to
the Plan, other than with respect to Persons who are subject to Section 16 of the Exchange
Act. To the extent the Committee has so delegated to one or more executive officers the
authority and responsibility of the Committee, all references to the Committee herein
shall include such officer or officers. Subject to the terms of the Plan and without
limitation by reason of enumeration, the Committee shall have full power and authority to:
(i) designate Participating Key Employees; (ii) determine the type or types of Awards
to be granted to each Participating Key Employee under the Plan; (iii) determine the
number of Shares to be covered by (or with respect to which payments, rights, or other
matters are to be calculated in connection with) Awards granted to Participating Key
Employees; (iv) determine the terms and conditions of any Award granted to a Participating
Key Employee; (v) determine whether, to what extent, and under what circumstances Awards
granted to Participating Key Employees may be settled or exercised in cash, Shares, other
securities, other Awards, or other property, and the method or methods by which Awards may
be settled, exercised, cancelled, forfeited, or suspended; (vi) determine whether, to what
extent, and under what circumstances cash, Shares, other Awards, and other amounts payable
with respect to an Award granted to Participating Key Employees under the Plan shall be
deferred either automatically or at the election of the holder thereof or of the
Committee; (vii) interpret and administer the Plan and any instrument or agreement
relating to, or Award made under, the Plan (including, without limitation, any Award
Agreement); (viii) establish, amend, suspend, or waive such rules and regulations and
appoint such agents as it shall deem appropriate for the proper administration of the
Plan; and (ix) make any other determination and take any other action that the Committee
deems necessary or desirable for the administration of the Plan. Unless otherwise
expressly provided in the Plan, all designations, determinations, interpretations, and
other decisions under or with respect to the Plan or any Award shall be within the sole
discretion of the Committee, may be made at any time, and shall be final, conclusive, and
binding upon all Persons, including the Company, any Affiliate, any Participating Key
Employee, any Non-Employee Director, any holder or beneficiary of any Award, any
shareholder, and any employee of the Company or of any Affiliate. Notwithstanding the
foregoing, Awards to Non-Employee Directors under the Plan shall be automatic and the
amount and terms of such Awards shall be determined as provided in Section 6(b) of the
Plan. 

-4- 

Section 4.     Shares
Available for Award 

        (a)   Shares
Available. Subject to adjustment as provided in Section 4(b):  

	 	        (i) Number
of Shares Available. The number of Shares with respect to which           Awards may
be granted under the Plan shall be 3,500,000. If, after the effective           date of
the Plan, any Shares covered by an Award granted under the Plan, or to           which
any Award relates, are forfeited or if an Award otherwise terminates,           expires
or is cancelled prior to the delivery of all of the Shares or of other
          consideration issuable or payable pursuant to such Award, then the number of
          Shares counted against the number of Shares available under the Plan in
          connection with the grant of such Award, to the extent of any such forfeiture,
          termination, expiration or cancellation, shall again be available for granting
          of additional Awards under the Plan. Upon payment in Shares pursuant to the
          exercise of a Stock Appreciation Right, the number of shares available for
          issuance under the Plan shall be reduced by the total number of shares with
          respect to which the Stock Appreciation Right is exercised and not only by the
          number of Shares actually issued in such payment.  

	 	        (ii)  Limitations
on Awards to Individual Participants. No Participating Key           Employee shall
be granted, during any calendar year, Options for more than           300,000 Shares,
Stock Appreciation Rights with respect to more than 50,000           Shares and/or more
than 50,000 Shares of Restricted Stock under the Plan. Such           number of Shares as
specified in the preceding sentence shall be subject to           adjustment in
accordance with the terms of Section 4(b) hereof. In all cases,           determinations
under this Section 4(a)(ii) shall be made in a manner that is           consistent with
the exemption for performance-based compensation provided by           Section 162(m) of
the Code (or any successor provision thereto) and any           regulations promulgated
thereunder.  

	 	        (iii) Accounting
for Awards. The number of Shares covered by an Award under the           Plan, or to
which such Award relates, shall be counted on the date of grant of           such Award
against the number of Shares available for granting Awards under the           Plan.  

	 	        (iv) Sources
of Shares Deliverable Under Awards. Any Shares delivered pursuant           to an
Award may consist, in whole or in part, of authorized and unissued Shares           or of
treasury Shares.  

        (b)  Adjustments.
In the event that the Committee shall determine that any           dividend or other
distribution (whether in the form of cash, Shares, other           securities, or other
property), recapitalization, stock split, reverse stock           split, reorganization,
merger, consolidation, split-up, spin-off, combination,           repurchase, or exchange
of Shares or other securities of the Company, issuance           of warrants or other
rights to purchase Shares or other securities of the           Company, or other similar
corporate transaction or event affects the Shares such           that an adjustment is
determined by the Committee to be appropriate in order to           prevent dilution or
enlargement of the benefits or potential benefits intended           to be made available
under the Plan, then the Committee may, in such manner as           it may deem
equitable, adjust any or all of (i) the number and type of Shares           subject to
the Plan and which thereafter may be made the subject of Awards under           the Plan,
(ii) the number and type of Shares subject to outstanding Awards, and           (iii) the
grant, purchase, or exercise price with respect to any Award, or, if           deemed
appropriate, make provision for a cash payment to the holder of an           outstanding
Award; provided, however, in each case, that with respect to           Awards of
Incentive Stock Options no such adjustment shall be authorized to the           extent
that such authority would cause the Plan to violate Section 422(b) of the           Code
(or any successor provision thereto); and provided further that the
          number of Shares subject to any Award payable or denominated in Shares shall
          always be a whole number. Notwithstanding the foregoing, Non-Qualified Stock
          Options subject to grant or previously granted to Non-Employee Directors under
          Section 6(b) of the Plan at the time of any event described in the preceding
          sentence shall be subject to only such adjustments as shall be necessary to
          maintain the relative proportionate interest represented thereby immediately
          prior to any such event and to preserve, without exceeding, the value of such
          Options.  

-5- 

Section 5.    Eligibility 

        Any
Key Employee, including any executive officer or employee-director of the Company or of
any Affiliate, shall be eligible to be designated a Participating Key Employee. All
Non-Employee Directors shall receive Awards of Non-Qualified Stock Options as provided in
Section 6(b). 

Section 6.     Awards 

        (a) Option
Awards to Key Employees. The Committee is hereby authorized to           grant
Options to Key Employees with the terms and conditions as set forth below           and
with such additional terms and conditions, in either case not inconsistent           with
the provisions of the Plan, as the Committee shall determine.  

	 	        (i)  Exercise
Price. The exercise price per Share of an Option granted           pursuant to this
Section 6(a) shall be determined by the Committee; provided,           however, that
such exercise price shall not be less than 100% of the Fair           Market Value of a
Share on the date of grant of such Option.  

	 	        (ii) Option
Term. The term of each Option shall be fixed by the Committee; provided, however, that
in no event shall the term of any Incentive Stock           Option exceed a period of ten
years from the date of its grant.  

	 	        (iii) Exercisability
and Method of Exercise. An Option shall become exercisable           in such manner
and within such period or periods and in such installments or           otherwise as
shall be determined by the Committee. The Committee also shall           determine the
method or methods by which, and the form or forms, including,           without
limitation, cash, Shares, other securities, other Awards, or other           property, or
any combination thereof, having a Fair Market Value on the exercise           date equal
to the relevant exercise price, in which payment of the exercise           price with
respect to any Option may be made or deemed to have been made.  

	 	        (iv) Incentive
Stock Options. The terms of any Incentive Stock Option granted           under the
Plan shall comply in all respects with the provisions of Section 422           of the
Code (or any successor provision thereto) and any regulations promulgated
          thereunder. Notwithstanding any provision in the Plan to the contrary, no
          Incentive Stock Option may be granted hereunder after April 26, 2015.  

-6- 

        (b) Non-Qualified
Stock Option Awards to Non-Employee Directors. 

	 	        (i) Eligibility.
Each Non-Employee Director shall automatically be granted           Non-Qualified Stock
Options under the Plan in the manner set forth in this           Section 6(b). A
Non-Employee Director may hold more than one Non-Qualified Stock           Option, but
only on the terms and subject to any restrictions set forth herein.  

	 	        (ii) Grant
of Options to Newly-Elected Non-Employee Directors. Any Person who           is first
elected as a Non-Employee Director after the effective date of the Plan           shall,
on the date of such election, automatically be granted a Non-Qualified           Stock
Option to purchase 6,000 Shares (which number of Shares shall be subject           to
adjustment in the manner provided in Section 4(b) hereof).  

	 	        (iii) Annual
Option Grants to Non-Employee Directors. Beginning with the annual           meeting
of shareholders next succeeding the annual meeting at which the Plan is
          approved by shareholders, each Non-Employee Director (if he or she continues to
          serve in such capacity) shall, on the day following the annual meeting of
          shareholders in each year during the time the Plan is in effect, automatically
          be granted a Non-Qualified Stock Option to purchase 3,000 Shares (which number
          of Shares shall be subject to adjustment in the manner provided in Section 4(b)
          hereof); provided, however, that a Person who is first elected as a
          Non-Employee Director on the date of an annual meeting of shareholders and who
          receives on that date a Non-Qualified Stock Option pursuant to Section 6(b)(ii)
          hereof shall not be eligible to begin to receive grants pursuant to this
Section           6(b)(iii) until the day following the next succeeding annual meeting of
          shareholders.  

	 	        (iv) Grant
Limitation. Notwithstanding the provisions of Sections 6(b)(ii) and
          6(b)(iii) hereof, Non-Qualified Stock Options shall be automatically granted to
          Non-Employee Directors under the Plan only for so long as the Plan remains in
          effect and a sufficient number of Shares are available hereunder for the
          granting of such Options.  

	 	        (v) Exercise
Price. The exercise price per Share for a Non-Qualified Stock           Option
granted to a Non-Employee Director under the Plan shall be equal to 100%           of the
“market value” of a Share on the date of grant of such Option.           The
“market value” of a Share on the date of grant to the Non-Employee
          Director shall be the closing price per Share for the Shares on the New York
          Stock Exchange on the trading date next preceding the date of grant, or if no
          trading occurred on the trading date next preceding the date on which the
          Non-Qualified Stock Option is granted, then the “market value” per
          Share shall be determined with reference to the next preceding date on which
the           Shares were traded.  

	 	        (vi) Exercisability
and Termination of Options. Non-Qualified Stock Options           granted to
Non-Employee Directors under the Plan shall become exercisable six           months
following the date of grant; provided, however, that if a
          Non-Employee Director ceases to be a director of the Company by reason of
death,           disability or retirement within six months after the date of grant, the
Option           shall become immediately exercisable in full. Non-Qualified Stock
Options           granted to Non-Employee Directors shall terminate on the earlier of:  

	 	        (A)          ten
years after the date of grant; or  

-7- 

	 	        (B)          twelve
months after the Non-Employee Director ceases to be a director of the           Company
for any reason, including as a result of the Non-Employee           Director’s
death, disability or retirement.  

	 	        (vii) Exercise
of Options. A Non-Qualified Stock Option granted to a           Non-Employee Director
may be exercised, subject to its terms and conditions and           the terms and
conditions of the Plan, in full at any time or in part from time           to time by
delivery to the Secretary of the Company at the Company’s           principal office
in Menasha, Wisconsin, of a written notice of exercise           specifying the number of
shares with respect to which the Option is being           exercised. Any notice of
exercise shall be accompanied by full payment of the           exercise price of the
Shares being purchased (x) in cash or its equivalent; (y)           by tendering
previously acquired Shares (valued at their “market           value” [as
determined in accordance with Section 6(b)(v)] as of the date of           exercise); or
(z) by any combination of the means of payment set forth in           subparagraphs (x)
and (y). For purposes of subparagraphs (y) and (z) above, the           term “previously
acquired Shares” shall only include Shares owned by           the Non-Employee
Director prior to the exercise of the Option for which payment           is being made
and shall not include Shares which are being acquired pursuant to           the exercise
of said Option. No shares will be issued until full payment           therefor has been
made.  

        (c) Stock
Appreciation Rights. The Committee is hereby authorized to grant           Stock
Appreciation Rights to Key Employees. Non-Employee Directors are not           eligible
to be granted Stock Appreciation Rights under the Plan. Subject to the           terms of
the Plan and any applicable Award Agreement, a Stock Appreciation Right           granted
under the Plan shall confer on the holder thereof a right to receive,           upon
exercise thereof, the excess of (i) the Fair Market Value of one Share on           the
date of exercise over (ii) the grant price of the Stock Appreciation Right           as
specified by the Committee, which shall not be less than 100% of the Fair
          Market Value of one Share on the date of grant of the Stock Appreciation Right.
          Subject to the terms of the Plan, the grant price, term, methods of exercise,
          methods of settlement (including whether the Participating Key Employee will be
          paid in cash, Shares, other securities, other Awards, or other property, or any
          combination thereof), and any other terms and conditions of any Stock
          Appreciation Right shall be as determined by the Committee. The
Committee may impose such conditions or restrictions on the           exercise of any
Stock Appreciation Right as it may deem appropriate.  

        (d) Restricted
Stock Awards.  

	 	        (i) Issuance.
The Committee is hereby authorized to grant Awards of           Restricted Stock to Key
Employees; provided, however, that the aggregate number           of Shares of Restricted
Stock granted under the Plan to all Participating Key           Employees as a group
shall not exceed 350,000 (such number of Shares subject to           adjustment in
accordance with the terms of Section 4(b) hereof). Non-Employee           Directors are
not eligible to be granted Restricted Stock under the Plan.  

-8- 

	 	        (ii) Restrictions.
Shares of Restricted Stock granted to Participating Key           Employees shall be
subject to such restrictions as the Committee may impose           (including, without
limitation, any limitation on the right to vote a Share of           Restricted Stock or
the right to receive any dividend or other right or           property), which
restrictions may lapse separately or in combination at such           time or times, in
such installments or otherwise, as the Committee may deem           appropriate
(including, without limitation, the continued employment of the           Participant
with the Company for a specified period or upon the achievement of           Performance
Goals or other terms set by the Committee at the time the shares of           Restricted
Stock are granted).With respect to any shares of Restricted           Stock the
restrictions on which are subject to the achievement of Performance           Goals, the
Committee shall determine the Performance Period, the Performance           Goal or Goals
(and the performance level or levels related thereto) to be           achieved during any
Performance Period, the restrictions that shall lapse, if           any, for performance
between the minimum and full performance levels for any           Performance Goal and,
if applicable, the relative percentage weighting given to           each of the selected
Performance Goals. The Committee shall have sole discretion           to alter the
selected Performance Goals set forth in Section 2(p), subject to           shareholder
approval, to the extent required to qualify the Award for the           performance-based
exemption provided by Section 162(m) of the Code (or any           successor provision
thereto). Notwithstanding the foregoing, in the event the           Committee determines
it is advisable to grant Restricted Stock which do not           qualify for the
performance-based exemption under Section 162(m) of the Code (or           any successor
provision thereto), the Committee may make such grants without           satisfying the
requirements thereof.  

	 	        (iii) Registration. Any
Restricted Stock granted under the Plan to a           Participating Key Employee may be
evidenced in such manner as the Committee may           deem appropriate, including,
without limitation, book-entry registration or           issuance of a stock certificate
or certificates. In the event any stock           certificate is issued in respect of
Shares of Restricted Stock granted under the           Plan to a Participating Key
Employee, such certificate shall be registered in           the name of the Participating
Key Employee and shall bear an appropriate legend           (as determined by the
Committee) referring to the terms, conditions, and           restrictions applicable to
such Restricted Stock.  

	 	        (iv) Payment
of Restricted Stock. Upon the lapse of the applicable           restrictions relating
to Restricted Stock granted to a Participating Key           Employee, one or more stock
certificates for the appropriate number of Shares,           free of restrictions imposed
under the Plan, shall be delivered to the           Participating Key Employee, or, if
the Participating Key Employee received stock           certificates representing the
Restricted Stock at the time of grant, the legends           placed on such certificates
shall be removed.  

	 	        (v) Forfeiture.
Except as otherwise determined by the Committee, upon           termination of employment
of a Participating Key Employee (as determined under           criteria established by
the Committee) for any reason during the applicable           restriction period, all
Shares of Restricted Stock still subject to restriction           shall be forfeited by
the Participating Key Employee; provided, however, that           the Committee may, when
it finds that a waiver would be in the best interests of           the Company, waive in
whole or in part any or all remaining restrictions with           respect to Shares of
Restricted Stock held by a Participating Key Employee.  

        (e) General. 

	 	        (i) No
Consideration for Awards. Awards shall be granted to Participating Key
          Employees for no cash consideration unless otherwise determined by the
          Committee. Awards of Non-Qualified Stock Options granted to Non-Employee
          Directors under Section 6(b) of the Plan shall be granted for no cash
          consideration unless otherwise required by law.  

-9- 

	 	        (ii) Award
Agreements. Each Award granted under the Plan shall be evidenced by           an
Award Agreement in such form (consistent with the terms of the Plan) as shall
          have been approved by the Committee.  

	 	        (iii)
Awards May Be Granted Separately or Together. Awards to Participating Key
          Employees under the Plan may be granted either alone or in addition to, in
          tandem with, or in substitution for any other Award or any award granted under
          any other plan of the Company or any Affiliate. Awards granted in addition to
or           in tandem with other Awards, or in addition to or in tandem with awards
granted           under any other plan of the Company or any Affiliate, may be granted
either at           the same time as or at a different time from the grant of such other
Awards or           awards.  

	 	        (iv)
Forms of Payment Under Awards. Subject to the terms of the Plan and of
          any applicable Award Agreement, payments or transfers to be made by the Company
          or an Affiliate upon the grant, exercise, or payment of an Award to a
          Participating Key Employee may be made in such form or forms as the Committee
          shall determine, and may be made in a single payment or transfer, in
          installments, or on a deferred basis, in each case in accordance with rules and
          procedures established by the Committee. Such rules and procedures may include,
          without limitation, provisions for the payment or crediting of interest on
          installment or deferred payments.  

	 	        (v) Limits
on Transfer of Awards. No Award (other than Released Securities),           and no
right under any such Award, shall be assignable, alienable, saleable, or
          transferable by a Participating Key Employee or a Non-Employee Director
          otherwise than by will or by the laws of descent and distribution (or, in the
          case of an Award of Restricted Securities, to the Company); provided, however,
          that a Participating Key Employee at the discretion of the Committee may, and a
          Non-Employee Director shall, be entitled, in the manner established by the
          Committee, to designate a beneficiary or beneficiaries to exercise his or her
          rights, and to receive any property distributable, with respect to any Award
          upon the death of the Participating Key Employee or the Non-Employee Director,
          as the case may be. Each Award, and each right under any Award, shall be
          exercisable, during the lifetime of the Participating Key Employee or the
          Non-Employee Director, only by such individual or, if permissible under
          applicable law, by such individual’s guardian or legal representative. No
          Award (other than Released Securities), and no right under any such Award, may
          be pledged, alienated, attached, or otherwise encumbered, and any purported
          pledge, alienation, attachment, or encumbrance thereof shall be void and
          unenforceable against the Company or any Affiliate.  

	 	        (vi)
Term of Awards. Except as otherwise provided in the Plan, the term of
          each Award shall be for such period as may be determined by the Committee.  

	 	        (vii)
Share Certificates; Representation. In addition to the restrictions
          imposed pursuant to Section 6(d) and Section 6(e) hereof, all certificates for
          Shares delivered under the Plan pursuant to any Award or the exercise thereof
          shall be subject to such stop transfer orders and other restrictions as the
          Committee may deem advisable under the Plan or the rules, regulations, and
other           requirements of the Commission, any stock exchange or other market upon
which           such Shares are then listed or traded, and any applicable federal or
state           securities laws, and the Committee may cause a legend or legends to be
put on           any such certificates to make appropriate reference to such
restrictions. The           Committee may require each Participating Key Employee,
Non-Employee Director or           other Person who acquires Shares under the Plan by
means of an Award originally           made to a Participating Key Employee or a
Non-Employee Director to represent to           the Company in writing that such
Participating Key Employee, Non-Employee           Director or other Person is acquiring
the Shares without a view to the           distribution thereof.  

-10- 

	 	        (viii)
No Re-Pricing of Options. Notwithstanding any provision in the Plan to
          the contrary, without the approval of the Company’s shareholders, no
Option           under the Plan shall be re-priced or shall be granted in connection with
the           cancellation of a previously granted Option under the Plan if the exercise
price           of the later granted Option is less than the exercise price of the
earlier           granted Option.  

Section 7.    Amendment and
Termination of the Plan; Correction of Defects and Omissions 

        (a)
Amendments to and Termination of the Plan. The Board of Directors of the
          Company may at any time amend, alter, suspend, discontinue, or terminate the
          Plan; provided, however, that the provisions of Section 6(b) of the Plan shall
          not be amended more than once every six months, other than to comport with
          changes in the Code, the Employee Retirement Income Security Act of 1974, as
          amended, or the rules promulgated thereunder; and provided further that
          shareholder approval of any amendment of the Plan shall also be obtained (i) if
          such amendment (A) increases the number of Shares with respect to which Awards
          may be granted under the Plan (other than increases related to adjustments made
          as provided in Section 4(b) hereof), (B) expands the class of persons eligible
          to participate under the Plan or (C) otherwise increases in any material
respect           the benefits payable under the Plan; or (ii) if otherwise required by:
(A) the           Code or any rules promulgated thereunder (in order to allow for
Incentive Stock           Options to be granted under the Plan), or (B) the listing
requirements of the           New York Stock Exchange or any principal securities
exchange or market on which           the Shares are then traded (in order to maintain
the listing of the Shares           thereon). Termination of the Plan shall not affect
the rights of Participating           Key Employees or Non-Employee Directors with
respect to Awards previously           granted to them, and all unexpired Awards shall
continue in force and effect           after termination of the Plan except as they may
lapse or be terminated by their           own terms and conditions.  

        (b)
Correction of Defects, Omissions and Inconsistencies. The Committee may
          correct any defect, supply any omission, or reconcile any inconsistency in any
          Award or Award Agreement in the manner and to the extent it shall deem
desirable           to carry the Plan into effect.  

Section 8.    General
Provisions 

        (a)
No Rights to Awards. No Key Employee, Participating Key Employee or other
          Person (other than a Non-Employee Director to the extent provided in Section
          6(b) of the Plan) shall have any claim to be granted any Award under the Plan,
          and there is no obligation for uniformity of treatment of Key Employees,
          Participating Key Employees, or holders or beneficiaries of Awards under the
          Plan. The terms and conditions of Awards need not be the same with respect to
          each Participating Key Employee.  

-12- 

        (b)
Withholding. No later than the date as of which an amount first becomes
          includable in the gross income of a Participating Key Employee for federal
          income tax purposes with respect to any Award under the Plan, the Participating
          Key Employee shall pay to the Company, or make arrangements satisfactory to the
          Company regarding the payment of, any federal, state, local or foreign taxes of
          any kind required by law to be withheld with respect to such amount. Unless
          otherwise determined by the Committee, withholding obligations arising with
          respect to Awards to Participating Key Employees under the Plan may be settled
          with Shares (other than Restricted Securities), including Shares that are part
          of, or are received upon exercise of, the Award that gives rise to the
          withholding requirement. The obligations of the Company under the Plan shall be
          conditional on such payment or arrangements, and the Company and any Affiliate
          shall, to the extent permitted by law, have the right to deduct any such taxes
          from any payment otherwise due to the Participating Key Employee. The Committee
          may establish such procedures as it deems appropriate for the settling of
          withholding obligations with Shares, including, without limitation, the
          establishment of such procedures as may be necessary to satisfy the
requirements           of Rule 16b-3.  

        (c)
No Limit on Other Compensation Arrangements. Nothing contained in the
          Plan shall prevent the Company or any Affiliate from adopting or continuing in
          effect other or additional compensation arrangements, and such arrangements may
          be either generally applicable or applicable only in specific cases.  

        (d)
Rights and Status of Recipients of Awards. The grant of an Award shall
          not be construed as giving a Participating Key Employee the right to be
retained           in the employ of the Company or any Affiliate. Further, the Company or
any           Affiliate may at any time dismiss a Participating Key Employee from
employment,           free from any liability, or any claim under the Plan, unless
otherwise expressly           provided in the Plan or in any Award Agreement. The grant
of an Award to a           Non-Employee Director pursuant to Section 6(b) of the Plan
shall confer no right           on such Non-Employee Director to continue as a director
of the Company. Except           for rights accorded under the Plan and under any
applicable Award Agreement,           Participating Key Employees and Non-Employee
Directors shall have no rights as           holders of Shares as a result of the granting
of Awards hereunder.  

        (e)
Unfunded Status of the Plan. Unless otherwise determined by the
          Committee, the Plan shall be unfunded and shall not create (or be construed to
          create) a trust or a separate fund or funds. The Plan shall not establish any
          fiduciary relationship between the Company and any Participating Key Employee,
          any Non-Employee Director or other Person. To the extent any Person holds any
          right by virtue of a grant under the Plan, such right (unless otherwise
          determined by the Committee) shall be no greater than the right of an unsecured
          general creditor of the Company.  

        (f)
Governing Law. The validity, construction, and effect of the Plan and any
          rules and regulations relating to the Plan shall be determined in accordance
          with the laws of the State of Wisconsin and applicable federal law.  

        (g)
Severability. If any provision of the Plan or any Award Agreement or any
          Award is or becomes or is deemed to be invalid, illegal, or unenforceable in
any           jurisdiction, or as to any Person or Award, or would disqualify the Plan,
any           Award Agreement or any Award under any law deemed applicable by the
Committee,           such provision shall be construed or deemed amended to conform to
applicable           laws, or if it cannot be so construed or deemed amended without, in
the           determination of the Committee, materially altering the intent of the Plan,
any           Award Agreement or the Award, such provision shall be stricken as to such
          jurisdiction, Person, or Award, and the remainder of the Plan, any such Award
          Agreement and any such Award shall remain in full force and effect.  

        (h)
No Fractional Shares. No fractional Shares or other securities shall be
          issued or delivered pursuant to the Plan, any Award Agreement or any Award, and
          the Committee shall determine (except as otherwise provided in the Plan)
whether           cash, other securities, or other property shall be paid or transferred
in lieu           of any fractional Shares or other securities, or whether such
fractional Shares           or other securities or any rights thereto shall be canceled,
terminated, or           otherwise eliminated.  

-12- 

        (i)
Headings. Headings are given to the Sections and subsections of the Plan
          solely as a convenience to facilitate reference. Such headings shall not be
          deemed in any way material or relevant to the construction or interpretation of
          the Plan or any provision thereof.  

Section 9.    Effective
Date of the Plan 

        The
Plan originally became effective on April 26, 2005. 

-13-

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