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                                                                    EXHIBIT 10.1

                          BUSINESS MANAGEMENT AGREEMENT

     THIS BUSINESS MANAGEMENT AGREEMENT (this "Agreement"), dated as of
[__________], 2005, is entered into by and between INLAND AMERICAN REAL ESTATE
TRUST, INC., a Maryland corporation (the "Company"), and INLAND AMERICAN
BUSINESS MANAGER & ADVISOR INC., an Illinois corporation (the "Business
Manager").

                                   WITNESSETH:

     WHEREAS, the Company has registered with the Securities and Exchange
Commission to issue Shares (as defined in SECTION 1 below) in a public offering
and may subsequently issue securities other than these Shares ("Securities");

     WHEREAS, the Company intends to qualify as a REIT (as defined in SECTION 1
below), and to make investments permitted by the terms of the Articles of
Incorporation (as defined below) and Sections 856 through 860 of the Code (as
defined in SECTION 1 below);

     WHEREAS, the Company desires to avail itself of the experience, sources of
information, advice, assistance and facilities available to the Business Manager
and to have the Business Manager undertake the duties and responsibilities
hereinafter set forth, on behalf of, and subject to the supervision of, the
Board of Directors (as defined in SECTION 1 below), all as provided herein; and

     WHEREAS, the Business Manager is willing to undertake to render these
services, subject to the supervision of the Board of Directors, on the terms and
conditions hereinafter set forth.

     NOW, THEREFORE, in consideration of the mutual covenants set forth herein,
the parties hereto agree as follows:

     1.   DEFINITIONS. As used herein, the following capitalized terms shall
have the meanings set forth below:

          "ACQUISITION CO." means Inland Real Estate Acquisitions, Inc., an
Illinois Corporation.

          "ACQUISITION EXPENSES" means any and all expenses incurred by the
Company, the Business Manager or any Affiliate of either in connection with
selecting, evaluating or acquiring any investment in Real Estate Assets,
including but not limited to legal fees and expenses, travel and communication,
appraisals and surveys, nonrefundable option payments regardless of whether the
Real Estate Asset is acquired, accounting fees and expenses, computer related
expenses, architectural and engineering reports, environmental and asbestos
audits and surveys, title insurance and escrow fees, and personal and
miscellaneous expenses.

          "ACQUISITION FEES" means the total of all fees and commissions,
excluding Acquisition Expenses, paid by any Person to any other Person
(including any fees or

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commissions paid by or to the Company, the Business Manager or any Affiliate of
either) in connection with an investment in Real Estate Assets or purchasing,
developing or constructing a property by the Company. For these purposes, the
fees or commissions shall include any real estate commission, selection fee,
development fee, construction fee, nonrecurring management fee, loan fee,
including points, or any fee of a similar nature, however designated, except for
development fees and construction fees paid to any Person not Affiliated with
the Sponsor or Business Manager in connection with the actual development and
construction of a project, or fees in connection with temporary short-term
investments acquired for purposes of cash management.

          "ACQUISITION OF A REAL ESTATE OPERATING COMPANY" means the acquisition
of a Real Estate Operating Company by the Company or a wholly-owned subsidiary
of the Company: (i) by purchasing at least fifty and one-tenth percent (50.1%)
of the capital stock or other equity interest in a Real Estate Operating
Company, or by merger or other business combination, reorganization or tender
offer or (ii) by acquiring all or substantially all of a Real Estate Operating
Company's assets in a single or series of purchases.

          "AFFILIATE" means, with respect to any other Person:

          (a)     any Person directly or indirectly owning, controlling or
     holding, with the power to vote, ten percent (10.0%) or more of the
     outstanding voting securities of such other Person;

          (b)     any Person ten percent (10.0%) or more of whose outstanding
     voting securities are directly or indirectly owned, controlled or held,
     with the power to vote, by such other Person;

          (c)     any Person directly or indirectly controlling, controlled by
     or under common control with such other Person;

          (d)     any executive officer, director, trustee, general partner or
     manager of such other Person; and

          (e)     any legal entity for which such Person acts as an executive
     officer, director, trustee, general partner or manager.

          "AFFILIATED DIRECTORS" means those directors of the Company who are
affiliated with the Sponsor.

          "ARTICLES OF INCORPORATION" means the articles of incorporation of the
Company, as amended or restated from time to time.

          "AVERAGE INVESTED ASSETS" means, for any period, the average of the
aggregate Book Value of the assets of the Company, including lease intangibles,
invested, directly or indirectly, in financial instruments, debt and equity
securities and equity interests in and loans secured by Real Estate Assets
including amounts invested in Real Estate Operating Companies, before reserves
for depreciation or bad debts or other similar non-cash reserves, computed by
taking the average of these values at the end of each month during the period.

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          "BOARD OF DIRECTORS" means the persons holding the office of director
of the Company as of any particular time under the Articles of Incorporation.

          "BOOK VALUE" means the value of the particular asset on the books and
records of the Company, before any allowance for depreciation or amortization.

          "CODE" means the Internal Revenue Code of 1986, as amended, and the
regulations promulgated thereunder or corresponding provisions of subsequent
revenue laws.

          "COMPANY FIXED ASSETS" means the Real Property, together with the
buildings, leasehold interests, improvements, equipment, furniture, fixtures and
personal property associated therewith, used by the Company in conducting its
business.

          "CURRENT RETURN" means a non-cumulative, non-compounded return, equal
to five percent (5.0%) per annum on Invested Capital.

          "DUE DILIGENCE EXPENSE ALLOWANCE" means any and all BONA FIDE amounts
reimbursed for expenses incurred by any underwriters, dealer managers or other
broker-dealers in connection with investigating the Company or any offering of
Securities made by the Company.

          "EQUITY STOCK" means all classes or series of capital stock of the
Company, including, without limit, its common stock, $.001 par value per share,
and preferred stock, $.001 par value per share.

          "FISCAL YEAR" means the calendar year ending December 31.

          "GAAP" means United States generally accepted accounting principles as
in effect from time to time, consistently applied.

          "GROSS OFFERING PROCEEDS" means the total proceeds from the sale of
500,000,000 Shares in the Offering before deducting Offering Expenses. For
purposes of calculating Gross Offering Proceeds, the selling price for all
Shares, including those for which volume discounts apply, shall be deemed to be
$10.00 per Share. Unless specifically included in a given calculation, Gross
Offering Proceeds does not include any proceeds from the sale of Shares under
the Company's distribution reinvestment plan.

          "INDEMNITEE" OR "INDEMNITEES" means any person(s), entity or entities
seeking indemnity under SECTION 23 hereof.

          "INDEPENDENT DIRECTOR" means any director of the Company who:

          (a)     is not associated and has not been associated within the two
     years prior to becoming an Independent Director, directly or indirectly,
     with the Company, the Sponsor or the Business Manager, whether by ownership
     of, ownership interest in, employment by, any material business or
     professional relationship with, or as an officer or director of the
     Company, the Sponsor, the Business Manager or any of their Affiliates;

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          (b)     does not serve as a director for more than two other REITs
     organized by the Sponsor for the Company, except as a directors; and

          (c)     performs no other services for the Company, except as a
     director.

For purposes of this definition, a business or professional relationship will be
considered material if the gross revenue derived by the director exceeds five
percent (5.0%) of either the director's annual gross revenue during either of
the last two years or the director's net worth on a fair market value basis. An
indirect relationship shall include circumstances in which a director's spouse,
parents, children, siblings, mothers- or fathers-in-law, sons- or
daughters-in-law or brothers- or sisters-in-law is or has been associated with
the Company, the Sponsor, the Business Manager or any of their Affiliates during
the last two years.

          "INVESTED CAPITAL" means the original issue price paid for the Shares
reduced by prior distributions from the sale or financing of the Company's
Properties.

          "MARKETING CONTRIBUTION" means any and all compensation payable to
underwriters, dealer managers or other broker-dealers for expenses in connection
with marketing the sale of Shares, including, without limitation, compensation
payable to Inland Securities Corporation.

          "MANAGEMENT FEE" means any fees payable to the Business Manager under
SECTION 8(a) or SECTION 10 of this Agreement.

          "NET INCOME" means, for any period, the aggregate amount of total
revenues applicable to the period less the expenses applicable to the same
period other than additions to, or allowances for, reserves for depreciation,
amortization or bad debts or other similar noncash reserves all calculated in
accordance with GAAP; provided, however, that Net Income shall not include any
gain recognized upon the sale of the Company's assets.

          "NET SALES PROCEEDS" means the proceeds from the sale, grant or
conveyance of any Real Estate Assets, including assets owned by a Real Estate
Operating Company that is acquired by the Company and operated as one of its
subsidiaries, less any costs incurred in selling the asset including, but not
limited to, legal fees and selling commissions and further reduced by the amount
of any indebtedness encumbering the asset and any amounts reinvested in one or
more Real Estate Assets or set aside as a reserve within one hundred eighty
(180) days of closing of sale, grant or conveyance.

          "OFFERING" means the initial public offering of Shares on a "best
efforts" basis pursuant to the Prospectus dated [__________], 2005.

          "OFFERING EXPENSES" means all expenses incurred by, and to be paid
from, the assets of the Company in connection with and in preparing the Company
for registration and offering its Shares to the public, including, but not
limited to, total underwriting and brokerage discounts and commissions
(including fees and expenses of underwriters' attorneys paid by the Company),
expenses for printing, engraving, mailing, salaries of the Company's employees
while engaged in sales activity, charges of transfer agents, registrars,
trustees, escrow holders,

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depositaries, experts, expenses of qualification of the sale of the securities
under federal and state laws, including taxes and fees and accountants' and
attorneys' fees and expenses.

          "ORGANIZATION EXPENSES" means the aggregate of all Offering Expenses,
including Selling Commissions, the Marketing Contribution and the Due Diligence
Expense Allowance.

          "PERSON" means any individual, corporation, business trust, estate,
trust, partnership, limited liability company, association, two or more persons
having a joint or common interest or any other legal or commercial entity.

          "PRIMARY GEOGRAPHICAL AREA OF INVESTMENT" means, with respect to the
Company, the United States and Canada.

          "PROPERTY" or "PROPERTIES" means interests in (i) Real Property or
(ii) any buildings, structures, improvements, furnishings, fixtures and
equipment, whether or not located on the Real Property, in each case owned or to
be owned by the Company either directly or indirectly through one or more
Affiliates, joint ventures, partnerships or other legal entities.

          "PROPERTY MANAGER" means Inland North American Property Management
Corp., a Delaware corporation, and any of its successors and assigns.

          "PROSPECTUS" means the final prospectus of the Company in connection
with the registration of Shares filed with the Securities and Exchange
Commission on Form S-11, as amended and supplemented.

          "REAL ESTATE ASSETS" means any and all investments in: (i) Real
Property whether directly or indirectly through owned or controlled subsidiaries
or a Real Estate Operating Company and including amounts invested in joint
ventures; (ii) loans, or other evidence of indebtedness secured, directly or
indirectly, by interests in Real Property; (iii) mortgage backed securities; and
(iv) "Real Estate Assets" as that term is defined in the Articles of
Incorporation.

          "REAL ESTATE OPERATING COMPANY" means: (i) any entity that has equity
securities registered under Section 12(b) or 12(g) of the Securities Exchange
Act of 1934, as amended (the "Exchange Act"); (ii) any entity that files
periodic reports under Sections 13 or 15(d) of the Exchange Act; or (iii) any
entity that, either itself or through its subsidiaries:

          (a) owns and operates interests in real estate on a going concern
     basis rather than as a conduit vehicle for investors to participate in the
     ownership of assets for a limited period of time;

          (b) has a policy or purpose of reinvesting sale, financing or
     refinancing proceeds or cash from operations;

          (c) has its own directors, managers or managing general partners, as
     applicable; and

          (d) either (1) has its own officers and employees that, on a daily
     basis, actively operate the entity and its subsidiaries and businesses, or
     (2) has retained the services of an

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     affiliate or sponsor of, or advisor to, the entity to, on a daily basis,
     actively operate the entity and its subsidiaries and businesses.

          "REAL PROPERTY" means land, rights or interests in land (including,
but not limited to, leasehold interests), and any buildings, structures,
improvements, furnishings, fixtures and equipment located on, or used in
connection with, land and rights or interest in land.

          "REIT" means a real estate investment trust as defined in Sections 856
through 860 of the Code.

          "SHARES" means the shares of common stock, par value $.001 per share,
of the Company, and "Share" means one of those Shares.

          "SELLING COMMISSIONS" means any and all commissions, not to exceed
seven and one-half percent (7.5%) of the gross offering price of any Shares,
payable to underwriters, dealer managers or other broker-dealers in connection
with the sale of Shares, including, without limitation, commissions payable to
Inland Securities Corporation.

          "SPONSOR" means Inland Real Estate Investment Corporation, a Delaware
corporation.

          "STOCKHOLDERS" means holders of shares of Equity Stock.

          "TOTAL OPERATING EXPENSES" means the aggregate expenses of every
character paid or incurred by the Company as determined under GAAP, including
the Management Fee and other fees payable hereunder, but excluding:

          (a)     the expenses of raising capital such as Offering Expenses,
     Organization Expenses, legal, audit, accounting, underwriting, brokerage,
     listing, registration and other fees, printing and other expenses and taxes
     incurred in connection with the issuance, distribution, transfer,
     registration and listing of any shares of the Equity Stock;

          (b)     property expenses;

          (c)     interest payments;

          (d)     taxes;

          (e)     non-cash charges such as depreciation, amortization and bad
     debt reserves;

          (f)     any incentive fees payable hereunder; and

          (g)     Acquisition Fees, Acquisition Expenses, real estate
     commissions on resale of property and other expenses connected with
     acquiring, disposing and owning real estate interests, mortgage loans, or
     other property (such as the costs of foreclosure, insurance premiums, legal
     services, maintenance, repair and property improvements).

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     2.   DUTIES OF THE BUSINESS MANAGER. The Business Manager shall consult
with the Company and shall, at the request of the Board of Directors or the
officers of the Company, furnish advice and recommendations with respect to all
aspects of the business and affairs of the Company. The Business Manager shall
inform the Board of Directors of factors that come to the Business Manager's
attention that may, in its opinion, influence the policies of the Company.
Subject to the supervision of the Board of Directors and consistent with the
provisions of the Articles of Incorporation, the Business Manager shall use its
best efforts to:

          (a)     subject to the terms and conditions set forth in that certain
     Property Acquisition Agreement by and between the Company and Acquisition
     Co., of even date herewith, use commercially reasonable efforts to identify
     potential investment opportunities in Real Estate Assets located in the
     Primary Geographical Area of Investment and consistent with the Company's
     investment objectives and policies; including but not limited to:

                  (i)     locating, analyzing and selecting potential
          investments in Real Estate Assets;

                  (ii)    structuring and negotiating the terms and conditions
          of acquisition and disposition transactions;

                  (iii)   arranging for financing and refinancing and making
          other changes in the asset or capital structure of the Company and
          disposing of and reinvesting the proceeds from the sale of, or
          otherwise deal with the investments in, Real Estate Assets; and

                  (iv)    entering into leases and service contracts, on the
          Company's behalf, for Real Estate Assets and, to the extent necessary,
          performing all functions necessary to maintain and administer the
          Company's assets.

          (b)     assist the Board of Directors in evaluating these investment
     opportunities;

          (c)     provide the Board of Directors with research and other
     statistical data and analysis in connection with the Company's assets,
     operations and investment policies;

          (d)     manage the Company's day-to-day operations, consistent with
     the investment objectives and policies established by the Board of
     Directors from time to time;

          (e)     investigate, select and conduct relations with lenders,
     consultants, accountants, brokers, property managers, attorneys,
     underwriters, appraisers, insurers, corporate fiduciaries, banks, builders
     and developers, sellers and buyers of investments and persons acting in any
     other capacity specified by the Company from time to time, and enter into
     contracts in the Company's name with, and retaining and supervising
     services performed by, such parties in connection with investments that
     have been or may be acquired or disposed of by the Company;

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          (f)     cooperate with the Property Manager in connection with
     property management services and other activities relating to the Company's
     assets, subject to the requirement that the Business Manager or the
     Property Manager, as the case may be, qualifies as an "independent
     contractor" as that phrase is used in connection with applicable laws,
     rules and regulations affecting REITs that own Real Property;

          (g)     upon request of the Company, act, or obtain the services of
     others to act, as attorney-in-fact or agent of the Company in making,
     acquiring and disposing of investments, disbursing and collecting the
     funds, paying the debts and fulfilling the obligations of the Company and
     handling, prosecuting and settling any claims of the Company, including
     foreclosing and otherwise enforcing mortgage and other liens and security
     interests securing investments;

          (h)     assist in negotiations on behalf of the Company with
     investment banking firms and other institutions or investors for public or
     private sales of Securities of the Company or for other financing on behalf
     of the Company, provided that in no event may the Business Manager act as a
     broker, dealer, underwriter or investment advisor of, or for, the Company;

          (i)     maintain, with respect to any Real Property and to the extent
     available, title insurance or other assurance of title and customary fire,
     casualty and public liability insurance;

          (j)     supervise the preparation and filing and distribution of
     returns and reports to governmental agencies and to investors and act on
     behalf of the Company in connection with investor relations;

          (k)     provide office space, equipment and personnel as required for
     the performance of the foregoing services as Business Manager;

          (l)     advise the Board of Directors, from time to time, of the
     Company's operating results and coordinating preparation, with each
     property manager, of an operating budget including one, three and five year
     projections of operating results and such other reports as may be
     appropriate for each Real Estate Asset;

          (m)     prepare, on behalf of the Company, all reports and returns
     required by the Securities and Exchange Commission, Internal Revenue
     Service and other state or federal governmental agencies relating to the
     Company and its operations;

          (n)     undertake and perform all services or other activities
     necessary and proper to carry out the Company's investment objectives;

          (o)     provide the Company with all necessary cash management
     services;

          (p)     maintain the Company's books and records including, but not
     limited to, appraisals or fairness opinions obtained in connection with
     acquiring or disposing Real Estate Assets; and

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          (q)     enter into ancillary agreements with the Sponsor and its
     Affiliates to arrange for the services and licenses to be provided by the
     Business Manager hereunder.

     3.   NO PARTNERSHIP OR JOINT VENTURE. The Company and the Business Manager
are not, and shall not be deemed to be, partners or joint venturers with each
other.

     4.   REIT QUALIFICATIONS. Notwithstanding any other provision of this
Agreement to the contrary, the Business Manager shall refrain from taking any
action that, in its reasonable judgment or in any judgment of the Board of
Directors of which the Business Manager has written notice, would adversely
affect the qualification of the Company as a REIT under the Code or that would
violate any law, rule or regulation of any governmental body or agency having
jurisdiction over the Company or its Securities, or that would otherwise not be
permitted by the Articles of Incorporation. If any such action is ordered by the
Board of Directors, the Business Manager shall promptly notify the Board of
Directors that, in the Business Manager's judgment, the action would adversely
affect the Company's status as a REIT or violate any law, rule or regulation or
the Articles of Incorporation and shall refrain from taking such action pending
further clarification or instruction from the Board of Directors.

     5.   BANK ACCOUNTS. At the direction of the Board of Directors or the
officers of the Company, the Business Manager shall establish and maintain bank
accounts in the name of the Company, and shall collect and deposit into and
disburse from such accounts moneys on behalf of the Company, upon such terms and
conditions as the Board of Directors may approve, provided that no funds in any
such account shall be commingled with funds of the Business Manager. The
Business Manager shall, from time to time, as the Board of Directors or the
officers of the Company may require, render appropriate accountings of such
collections, deposits and disbursements to the Board of Directors and to the
Company's auditors.

     6.   FIDELITY BOND. The Business Manager shall not be required to obtain or
maintain a fidelity bond in connection with performing its services hereunder.

     7.   INFORMATION FURNISHED TO THE BUSINESS MANAGER. The Board of Directors
will keep the Business Manager informed in writing concerning the investment and
financing policies of the Company. The Board of Directors shall notify the
Business Manager promptly in writing of the Board of Director's intention to
make any investments or to sell or dispose of any existing investments. The
Company shall furnish the Business Manager with a certified copy of all
financial statements, a signed copy of each report prepared by independent
certified public accountants and such other information with regard to its
affairs as the Business Manager may reasonably request.

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     8.   COMPENSATION. Subject to the provisions of SECTION 13 hereof, for
services rendered hereunder the Company shall pay to the Business Manager or its
designee the following:

          (a)     A Management Fee of not more than one percent (1.0%) of the
     Average Invested Assets, payable quarterly in an amount equal to
     one-quarter of one percent (0.25%) of the Average Invested Assets of the
     Company as of the last day of the immediately preceding quarter; provided
     that in no event shall the Company be obligated to pay a Management Fee
     unless and until all of its Stockholders have received the Current Return.
     This fee terminates if the Company acquires the Business Manager.

          (b)     An Acquisition Fee, equal to two and one-half percent (2.5%)
     of the aggregate purchase price paid upon Acquisition of a Real Estate
     Operating Company; provided, however, that Acquisition Fees shall not be
     paid for acquisitions solely of a fee interest in Property. The Company
     shall pay Acquisition Fees either in cash or by issuing Shares valued for
     these purposes at $10.00 per share. Any Shares issued will be subject to
     restrictions on transfer. If the issuance of Shares to pay an Acquisition
     Fee would result in more than 9.8% of the Company's common stock being held
     by The Inland Group, Inc., a Delaware corporation, and its Affiliates
     including the Business Manager, the Board of Directors may waive the
     ownership restrictions set forth in the Articles of Incorporation to permit
     the issuance of the additional Shares and the payment of the Acquisition
     Fee in that instance. Any waiver by the Board of Directors shall, as a
     consequence, reduce the aggregate number of Shares of the Company's common
     stock that may be held by individuals and entities other than the Business
     Manager. If the Board of Directors does not waive the ownership
     restrictions, the Company shall pay any excess fee in cash. This fee
     terminates if the Company acquires the Business Manager.

          (c)     An incentive fee equal to fifteen percent (15.0%) of the Net
     Sales Proceeds; provided that in no event shall the Company be obligated to
     pay an incentive fee unless and until all of its Stockholders have first
     received a ten percent (10.0%) cumulative, non-compounded return on, plus
     return of, their Invested Capital. This fee terminates if the Company
     acquires the Business Manager.

     9.   EXPENSES.

          (a)     In addition to the compensation paid to the Business Manager
     pursuant to SECTION 8 or SECTION 10 hereof, and subject to the limits
     herein, the Company shall reimburse the Business Manager, the Sponsor and
     its Affiliates for all expenses paid or incurred by the Business Manager,
     the Sponsor or its Affiliates to provide certain services and licenses
     hereunder, including all direct expenses and the costs of salaries and
     benefits of persons employed by the Business Manager, the Sponsor and its
     Affiliates and performing services for the Company.

          (b)     Direct expenses that the Company shall reimburse pursuant to
     Section 9(a) hereof include, but are not limited to:

                  (i)     any Offering Expenses;

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                  (ii)    Acquisition Expenses incurred in connection with
          selecting and acquiring Real Estate Assets;

                  (iii)   the actual cost of goods and services purchased for
          and used by the Company and obtained from entities not affiliated with
          the Business Manager;

                  (iv)    interest and other costs for borrowed money, including
          points and other similar fees;

                  (v)     taxes and assessments on income or Real Property and
          taxes;

                  (vi)    premiums and other associated fees for insurance
          policies including director and officer liability insurance;

                  (vii)   expenses of managing and operating Real Estate Assets
          owned by the Company, whether payable to an Affiliate of the Company
          or a non-affiliated Person;

                  (viii)  all fees and expenses paid to members of the Board of
          Directors and the fees and costs of any meetings of the Board of
          Directors or Stockholders;

                  (ix)    expenses associated with listing or with issuing
          Shares and Securities, including Selling Commissions, advertising
          expenses, taxes, legal and accounting fees, listing and registration
          fees and other Organization Expenses and Offering Expenses except for
          Selling Commissions or other fees and expenses paid by the Dealer
          Manager to any Soliciting Dealer (as those terms are defined in the
          Dealer Manager Agreement) pursuant to that certain Dealer Manager
          Agreement dated [__________], 2005 by and between the Company and
          Inland Securities Corporation;

                  (x)     expenses associated with dividends or distributions
          paid in cash or otherwise made or caused to be made by the Company to
          Stockholders;

                  (xi)    expenses of organizing the Company and filing,
          revising, amending, converting or modifying the Articles of
          Incorporation or the bylaws;

                  (xii)   all expenses associated with Stockholder
          communications including the cost of preparing, printing and mailing
          annual reports, proxy statements and other reports required by
          governmental entities;

                  (xiii)  administrative service expenses including personnel
          costs; provided, however, that no reimbursement shall be made for
          costs of personnel to the extent that such personnel perform services
          in transactions for which the Business Manager receives a separate
          fee;

                  (xiv)   audit, accounting and legal fees paid to third
          parties;

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                  (xv)    transfer agent and registrar's fees and charges paid
          to third parties; and

                  (xvi)   expenses relating to any offices or office facilities
          maintained solely for the benefit of the Company that are separate and
          distinct from the Company's executive offices.

          (c)     The Company shall also reimburse the Business Manager, the
     Sponsor and its Affiliates pursuant to Section 9(a) hereof for the salaries
     and benefits of persons employed by the Business Manager, the Sponsor or
     its Affiliates and performing services for the Company.

                  (i)     In the case of the Sponsor, whose employees also
          provide services for other entities sponsored by, or affiliated with,
          the Sponsor, the Company shall reimburse only a pro rata portion of
          the salary and benefits of these persons based on the amount of time
          spent by that person on matters for the Company compared to the time
          spent by that same person on all matters including the Company's
          matters.

                  (ii)    Except as otherwise agreed in writing by the Company
          or the Business Manager, the Company shall also reimburse Affiliates
          of the Sponsor for the salaries and benefits of persons employed by
          these Affiliates. The salary and benefit costs for each Affiliate
          shall be determined by multiplying (A) the number of hours spent by
          all employees of the Affiliate in providing services for the Company
          by (B) that Affiliate's "hourly billing rate." For these purposes, the
          "hourly billing rate" will approximate the hourly cost to the
          Affiliate to provide services to the Company based on:

                  (1)     the average amount of all salaries and bonuses paid to
                          the employees of the Affiliate; and

                  (2)     an allocation for overhead including employee
                          benefits, rent, materials, fees, taxes, and other
                          operating expenses incurred by the Affiliate in
                          operating its business except for direct expenses
                          reimbursed by the Company pursuant to SECTION 9(b)
                          hereof.

          (d)     The Business Manager shall prepare a statement documenting the
     expenses paid or incurred by the Business Manager, the Sponsor and its
     Affiliates for the Company on a quarterly basis. The Company shall
     reimburse the Business Manager, the Sponsor and its Affiliates for these
     expenses within forty-five (45) days after the end of each calendar
     quarter.

          (e)     The Business Manager shall direct its employees, and shall
     cause the Sponsor and its Affiliates to direct their employees, who perform
     services for the Company to keep time sheets or other appropriate billing
     records and receipts in connection with any reimbursement of expenses made
     by the Company pursuant to this SECTION 9. All time sheets or other
     appropriate billing records or receipts shall be made available to the
     Company upon reasonable request to the Business Manager.

                                       12
<Page>

     10.  COMPENSATION FOR ADDITIONAL SERVICES, CERTAIN LIMITATIONS.

          (a)     The Company and the Business Manager will separately negotiate
     and agree on the fees for any additional services that the Company asks the
     Business Manager or its Affiliates to render in addition to those set forth
     in SECTION 2 hereof. Any additional fees or reimbursements to be paid by
     the Company in connection with the additional services must be fair and
     reasonable and shall be approved by a majority of the Board of Directors,
     including a majority of the Independent Directors.

          (b)     In extraordinary circumstances fully justified to the official
     or agency administering the appropriate state securities laws, the Business
     Manager and its Affiliates may provide other goods and services to the
     Company if all of the following criteria are met:

                  (i)     the goods or services must be necessary to the prudent
          operation of the Company;

                  (ii)    the compensation, price or fee must be equal to the
          lesser of ninety percent (90.0%) of the compensation, price or fee the
          Company would be required to pay to independent, non-affiliated third
          parties who are rendering comparable services or selling or leasing
          comparable goods on competitive terms in the same geographic location,
          or ninety percent (90.0%) of the compensation, price or fee charged by
          the Business Manager or its Affiliates for rendering comparable
          services or selling or leasing comparable goods on competitive terms;
          and

                  (iii)   if at least ninety-five percent (95.0%) of gross
          revenues attributable to the business of rendering such services or
          selling or leasing such goods are derived from persons other than
          Affiliates, the compensation, price or fee charged by an unaffiliated
          person who is rendering comparable services or selling or leasing
          comparable goods must be on competitive terms in the same geographic
          location. Extraordinary circumstances shall be presumed to exist only
          when there is an emergency situation requiring immediate action by the
          Business Manager or its Affiliates and the goods or services are not
          immediately available from unaffiliated parties. Services that may be
          performed in extraordinary circumstances include emergency maintenance
          of Company properties, janitorial and other related services due to
          strikes or lockouts, emergency tenant evictions and repair services
          that require immediate action, as well as operating and releasing
          properties with respect to which the leases are in default or have
          been terminated.

          (c)     Permitted reimbursements shall include salaries and related
     salary expenses for nonsupervisory services that could be performed
     directly for the Company by independent, non-affiliated third parties such
     as legal, accounting, transfer agent, data processing and duplication. The
     Business Manager believes that the employees of the Business Manager, the
     Sponsor and its Affiliates who may perform services for the Company for
     which reimbursement is allowed, will have the experience and educational

                                       13
<Page>

     background, in their respective fields of expertise, appropriate for the
     performance of any such services.

     11.  STATEMENTS. The Business Manager shall furnish to the Company, not
later than the tenth (10th) day of each calendar quarter, beginning with the
second calendar quarter of the term of this Agreement, a statement computing any
Management Fee, Acquisition Fee or incentive fee payable hereunder. The Business
Manager shall also furnish to the Company, not later than the thirtieth (30th)
day following the end of each Fiscal Year, a statement computing the fees
payable to the Business Manager, the Sponsor or its Affiliates for the just
completed Fiscal Year; provided that any compensation payable hereunder shall be
subject to adjustments in accordance with, and upon completion of, the annual
audit of the Company's financial statements.

     12.  BUSINESS COMBINATION.

          (a)     BUSINESS COMBINATIONS. The Company shall consider becoming a
     self-administered REIT once the Company's assets and income are, in the
     view of the Board of Directors, of sufficient size such that internalizing
     the management functions performed by the Business Manager and the Property
     Manager is in the best interests of the Stockholders.

          If the Board of Directors should make this determination in the
     future, the Company shall pay one-half of the costs, and the Business
     Manager and the Property Manager shall pay the other half, of an investment
     banking firm. This firm shall jointly advise the Company and the Sponsor on
     the value of the Business Manager and the Property Manager. After the
     investment banking firm completes its analyses, the Company shall require
     it to prepare a written report and make a formal presentation to the Board
     of Directors.

          Following the presentation by the investment banking firm, the Board
     of Directors shall form a special committee comprised entirely of
     Independent Directors to consider a possible business combination with the
     Business Manager and the Property Manager. The Board of Directors shall,
     subject to applicable law, delegate all of its decision-making power and
     authority to the special committee with respect to these matters. The
     special committee also shall be authorized to retain its own financial
     advisors and legal counsel to, among other things, negotiate with
     representatives of the Business Manager and the Property Manager regarding
     a possible business combination.

          (b)     CONDITIONS TO COMPLETION OF BUSINESS COMBINATION. Before the
     Company may complete any business combination with either the Business
     Manager or the Property Manager in accordance with this SECTION 12, the
     following two conditions shall be satisfied:

                  (i)     the special committee formed in accordance with
          SECTION 12(a) hereof receives an opinion from a recognized investment
          banking firm, separate and distinct from the firm jointly retained to
          provide a valuation analysis in accordance with SECTION 12(a) hereof,
          concluding that the consideration to be paid

                                       14
<Page>

          to acquire the Business Manager or the Property Manager, as the case
          may be, is fair to the Stockholders from a financial point of view;
          and

                  (ii)    the holders of a majority of the votes cast at a
          meeting of the Stockholders called for such purpose (if a quorum is
          present at the meeting) approves the acquisition; provided that, for
          these purposes only, any shares held by The Inland Group, Inc., the
          Sponsor or any of their Affiliates will be counted for purposes of
          determining the presence of quorum but will not, however, initially
          constitute a vote cast for purposes of determining the number of votes
          necessary to approve the acquisition. If the proposal receives the
          necessary votes to approve the acquisition, all shares held by The
          Inland Group, Inc., the Sponsor or any of their Affiliates may then be
          voted in favor of the transaction.

     13.  REIMBURSEMENT BY BUSINESS MANAGER. The Business Manager shall be
obligated to reimburse the Company in the following circumstances:

          (a)     On or before the fifteenth (15th) day after the completion of
     the annual audit of the Company's financial statements for each Fiscal
     Year, the Business Manager shall reimburse the Company for the amounts, if
     any by which the Total Operating Expenses (including the Management Fee and
     other fees payable hereunder) of the Company for the Fiscal Year just ended
     exceeded the greater of:

                  (i)     two percent (2.0%) of the total of the Average
          Invested Assets for the just ended Fiscal Year; or

                  (ii)    twenty-five percent (25.0%) of the Net Income for the
          just ended Fiscal Year;

     provided, however, that the Business Manager may satisfy any obligation
     under this SECTION 13(a) by reducing the amount to be paid the Business
     Manager under SECTION 8 or SECTION 10 hereunder until the Business Manager
     has satisfied its obligations under this SECTION 13(a); provided, further,
     that the Board of Directors, including a majority of the Independent
     Directors of the Company, may reduce the amount due under this SECTION
     13(a) upon a finding that the increased expenses were caused by unusual or
     nonrecurring factors.

          (b)     If the aggregate of all Organization Expenses exceeds fifteen
     percent (15.0%) of the Gross Offering Proceeds or the aggregate of all
     Offering Expenses (excluding any Selling Commissions, the Marketing
     Contribution and the Due Diligence Expense Allowance) exceed four and
     one-half percent (4.5%) of the Gross Offering Proceeds, the Business
     Manager or its Affiliates shall reimburse the Company for, or pay directly,
     any excess Organization Expenses or Offering Expenses incurred by the
     Company above the greater of these limits.

     14.  OTHER ACTIVITIES OF THE BUSINESS MANAGER. Nothing contained herein
shall prevent the Business Manager or an Affiliate of the Business Manager from
engaging in any other business or activity including rendering services or
advising on real estate investment opportunities to any other person or entity.
Directors, officers, employees and agents of the

                                       15
<Page>

Business Manager or of Affiliates of the Business Manager may serve as
directors, trustees, officers, employees or agents of the Company, but shall
receive no compensation (other than reimbursement for expenses) from the Company
for this service.

     15.  TERM; TERMINATION OF AGREEMENT. This Agreement shall have an initial
term of one year and, thereafter, will continue in force for successive one year
renewals with the mutual consent of the parties including an affirmative vote of
a majority of the Independent Directors. Each extension shall be executed in
writing by both parties hereto prior to the expiration of this Agreement or of
any extension thereof.

     Notwithstanding any other provision of the Agreement to the contrary, this
Agreement may be terminated at the mutual consent of the parties. The Company
may terminate this Agreement without cause or penalty upon a vote of a majority
of the Independent Directors by providing no less than sixty (60) days' written
notice to the Business Manager. In the event of the termination of the
Agreement, the Business Manager will cooperate with the Company and take all
reasonable steps requested to assist the Board of Directors in making an orderly
transition of the functions performed hereunder by the Business Manager.

     This Agreement shall also terminate upon the closing of a business
combination between the Company and the Business Manager as described in SECTION
12 or as otherwise provided in SECTION 17 hereof.

     If this Agreement is terminated pursuant to this SECTION 15, the parties
shall have no liability or obligation to each other including any obligations
imposed by SECTION 2(a) hereof, except as provided in SECTION 18.

     16.  ASSIGNMENTS. The Business Manager may not assign this Agreement except
to a successor organization that acquires substantially all of its property and
carries on the affairs of the Business Manager; provided that following the
assignment, the persons who controlled the operations of the Business Manager
immediately prior thereto, control the operations of the successor organization,
including the performance of duties under this Agreement; however, if at any
time subsequent to the assignment such persons cease to control the operations
of the successor organization, the Company may thereupon terminate this
Agreement. This Agreement shall not be assignable by the Company without the
consent of the Business Manager, except to a corporation, trust or other
organization that is a successor to the Company. Any assignment of this
Agreement shall bind the assignee hereunder in the same manner as the assignor
is bound hereunder.

     17.  DEFAULT, BANKRUPTCY, ETC. At the sole option of the Company, this
Agreement shall be terminated immediately upon written notice of termination
from the Board of Directors to the Business Manager if any of the following
events occurs:

          (a)     the Business Manager violates any provisions of this Agreement
     and after notice of such violation shall not cure such default within
     thirty (30) days; or

          (b)     a court of competent jurisdiction enters a decree or order for
     relief in respect of the Business Manager in any involuntary case under the
     applicable bankruptcy, insolvency or other similar law now or hereafter in
     effect, or appoints a receiver

                                       16
<Page>

     liquidator, assignee, custodian, trustee, sequestrator (or similar
     official) of the Business Manager or for any substantial part of its
     property or orders the winding up or liquidation of the Business Manager's
     affairs; or

          (c)     the Business Manager commences a voluntary case under any
     applicable bankruptcy, insolvency or other similar law now or hereafter in
     effect, or consents to the entry of an order for relief in an involuntary
     case under any such law, or consents to the appointment of or taking
     possession by a receiver, liquidator, assignee, custodian, trustee,
     sequestrator (or similar official) of the Business Manager or for any
     substantial part of its property, or makes any general assignment for the
     benefit of creditors, or fails generally to pay its debts, as they become
     due.

     The Business Manager agrees that if any of the events specified in
subsections (b) and (c) of this SECTION 17 occur, it will give written notice
thereof to the Company within seven (7) days after the occurrence of such event.

     18.  ACTION UPON TERMINATION. The Business Manager shall not be entitled to
compensation after the date of termination of this Agreement for further
services hereunder, but shall be paid all compensation accruing to the date of
termination. Upon termination of this Agreement, the Business Manager shall:

          (a)     pay over to the Company all moneys collected and held for the
     account of the Company pursuant to this Agreement, after deducting any
     accrued compensation and reimbursement for expenses to which the Business
     Manager is entitled;

          (b)     deliver to the Board of Directors a full accounting, including
     a statement showing all payments collected by the Business Manager and a
     statement of all money held by the Business Manager, covering the period
     following the date of the last accounting furnished to the Board of
     Directors;

          (c)     deliver to the Board of Directors all property and documents
     of the Company then in the custody of the Business Manager; and

          (d)     cooperate with the Company and take all reasonable steps
     requested by the Company to assist the Board of Directors in making an
     orderly transition of the functions performed by the Business Manager.

     19.  TRADENAME AND MARKS. Concurrent with executing this Agreement, the
Company will enter into an agreement granting the Company the right, subject to
the terms and conditions of license agreement, to use the "Inland" name and
marks.

     20.  AMENDMENTS. This Agreement shall not be amended, changed, modified,
terminated or discharged in whole or in part except by an instrument in writing
signed by both parties hereto, or their respective successors or assigns, or
otherwise provided herein.

     21.  SUCCESSORS AND ASSIGNS. This Agreement shall bind any successors or
assigns of the parties hereto as herein provided.

                                       17
<Page>

     22.  GOVERNING LAW. The provisions of this Agreement shall be governed,
construed and interpreted in accordance with the internal laws of the State of
Illinois without regard to its conflicts of law principles.

     23.  LIABILITY AND INDEMNIFICATION.

          (a)     The Company shall indemnify the Business Manager and its
     officers, directors, employees and agents (individually an "Indemnitee",
     collectively the "Indemnitees") to the same extent as the Company may
     indemnify its officers, directors, employees and agents under its Articles
     of Incorporation and bylaws so long as:

                  (i)     the Indemnitee has determined, in good faith, that the
          course of conduct that caused the loss, liability or expense was in
          the best interests of the Company;

                  (ii)    the Indemnitee was acting on behalf of, or performing
          services for, the Company;

                  (iii)   the liability or loss was not the result of gross
          negligence or willful misconduct on the part of the Indemnitee; and

                  (iv)    any amounts payable to the Indemnitee are paid only
          out of the Company's assets and not from any personal assets of any
          Stockholder.

          (b)     The Company shall not indemnify any person or entity for
     losses, liabilities or expenses arising from, or out of, an alleged
     violation of federal or state securities laws by any party seeking
     indemnity unless one or more of the following conditions are met:

                  (i)     there has been a successful adjudication on the merits
          of each count involving alleged securities law violations as to the
          particular person or entity;

                  (ii)    the claims have been dismissed with prejudice on the
          merits by a court of competent jurisdiction as to the particular
          person or entity; or

                  (iii)   a court of competent jurisdiction approves a
          settlement of the claims and finds that indemnification of the
          settlement and related costs should be made and the court considering
          the request has been advised of the position of the Securities and
          Exchange Commission and the published opinions of any state securities
          regulatory authority in which securities of the Company were offered
          and sold with respect to the availability or propriety of
          indemnification for securities law violations.

          (c)     The Company shall advance amounts to persons entitled to
     indemnification hereunder for legal and other expenses and costs incurred
     as a result of any legal action for which indemnification is being sought
     only if all of the following conditions are satisfied:

                                       18
<Page>

                  (i)     the legal action relates to acts or omissions with
          respect to the performance of duties or services by the Indemnitee for
          or on behalf of the Company;

                  (ii)    the legal action is initiated by a third party and a
          court of competent jurisdiction specifically approves the advance; and

                  (iii)   the Indemnitee receiving the advances undertakes to
          repay any monies advanced by the Company, together with the applicable
          legal rate of interest thereon, in any case(s) in which a court of
          competent jurisdiction finds that the party is not entitled to be
          indemnified.

     24.  NOTICES. Any notice, report or other communication required or
permitted to be given hereunder shall be in writing unless some other method of
giving such notice, report or other communication is accepted by the party to
whom it is given and shall be given by being delivered at the following
addresses of the parties hereto:

IF TO THE COMPANY:               Inland American Real Estate Trust, Inc.
                                 2901 Butterfield Road
                                 Oak Brook, IL 60523
                                 Attention:  Ms. Roberta S. Matlin
                                 Telephone:  630-218-8000
                                 Facsimile:  630-218-4955

IF TO THE BUSINESS MANAGER:      Inland American Business Manager & Advisor Inc.
                                 2901 Butterfield Road
                                 Oak Brook, IL 60523
                                 Attention:  Ms. Brenda Gujral
                                 Telephone:  630-218-8000
                                 Facsimile:  630-218-4955

Either party may at any time give notice in writing to the other party of a
change of its address for the purpose of this SECTION 24.

     25.  CONFLICTS OF INTEREST AND FIDUCIARY DUTIES TO THE COMPANY AND TO THE
COMPANY'S STOCKHOLDERS. The Company and the Business Manager recognize that
their relationship is subject to various conflicts of interest such as set forth
in the Prospectus. The Business Manager, on behalf of itself and its Affiliates,
acknowledges that the Business Manager and its Affiliates have fiduciary duties
to the Company and to the Stockholders. The Business Manager, on behalf of
itself and its Affiliates, agrees, on the one hand, that the Business Manager
and its Affiliates will endeavor to balance the interests of the Company with
the interests of the Business Manager and its Affiliates in making any
determination where a conflict of interest exists between the Company and the
Business Manager or its Affiliates. The Company, on the other hand, agrees that
any such fiduciary duties will be qualified by, and defined in part, by the
Property Acquisition Agreement of even date herewith entered into between the
Company and Acquisition Co.

                                       19
<Page>

     26.  HEADINGS. The section headings hereof have been inserted for
convenience of reference only and shall not be construed to affect the meaning,
construction or effect of this Agreement.

                [THE REMAINDER OF THIS PAGE INTENTIONALLY BLANK]

                                       20
<Page>

     IN WITNESS WHEREOF, the undersigned have executed this Business Management
Agreement as of the date first above written.

COMPANY:                                    BUSINESS MANAGER:

INLAND AMERICAN REAL ESTATE TRUST,          INLAND AMERICAN BUSINESS MANAGER &
INC.                                        ADVISOR INC.

By:                                         By:
      --------------------------------            ------------------------------
Name:                                       Name:
      --------------------------------            ------------------------------
Its:                                        Its:
      --------------------------------            ------------------------------Exhibit 10.6

 

ACCURIDE CORPORATION

2005 INCENTIVE AWARD PLAN

 

ARTICLE 1

 

PURPOSE

 

The
purpose of the Accuride Corporation 2005 Incentive Award Plan (the “Plan”)
is to promote the success and enhance the value of Accuride Corporation, a
Delaware corporation (the “Company”) by linking the personal interests
of the members of the Board, Employees, and Consultants to those of Company
stockholders and by providing such individuals with an incentive for
outstanding performance to generate superior returns to Company
stockholders.  The Plan is further
intended to provide flexibility to the Company in its ability to motivate,
attract, and retain the services of members of the Board, Employees, and
Consultants upon whose judgment, interest, and special effort the successful
conduct of the Company’s operation is largely dependent.

 

ARTICLE 2

 

DEFINITIONS AND CONSTRUCTION

 

Wherever
the following terms are used in the Plan they shall have the meanings specified
below, unless the context clearly indicates otherwise.  The singular pronoun shall include the plural
where the context so indicates.

 

2.1                                 “Award”
means an Option, a Restricted Stock award, a Stock Appreciation Right award, a
Performance Share award, a Performance Stock Unit award, Performance Award, a
Dividend Equivalents award, a Stock Payment award, a Deferred Stock award, a
Restricted Stock Unit award, Other Stock-Based Award or a Performance-Based
Award granted to a Participant pursuant to the Plan.

 

2.2                                 “Award
Agreement” means any written agreement, contract, or other instrument or
document evidencing an Award, including through electronic medium.

 

2.3                                 “Board”
means the Board of Directors of the Company.

 

2.4                                 “Change
of Control” means and includes each of the following:

 

(a)                                  A
transaction or series of transactions (other than an offering of Stock to the
general public through a registration statement filed with the Securities and
Exchange Commission) whereby any “person” or related “group” of “persons” (as
such terms are used in Sections 13(d) and 14(d)(2) of the Exchange Act) (other
than the Company, any of its subsidiaries, an employee benefit plan maintained
by the Company or any of its subsidiaries or a “person” that, prior to such
transaction, directly or indirectly controls, is controlled by, or is under common
control with, the Company) directly or indirectly acquires beneficial ownership

 

 

(within
the meaning of Rule 13d-3 under the Exchange Act) of securities of the Company possessing
more than 35% of the total combined voting power of the Company’s securities
outstanding immediately after such acquisition; or

 

(b)                                 During
any period of two consecutive years, individuals who, at the beginning of such
period, constitute the Board together with any new director(s) (other than a
director designated by a person who shall have entered into an agreement with
the Company to effect a transaction described in Section 2.4(a) or Section 2.4(c))
whose election by the Board or nomination for election by the Company’s
stockholders was approved by a vote of a majority of the directors then still
in office who either were directors at the beginning of the two year period or
whose election or nomination for election was previously so approved, cease for
any reason to constitute a majority thereof; or

 

(c)                                  The
consummation by the Company (whether directly involving the Company or
indirectly involving the Company through one or more intermediaries) of
(x) a merger, consolidation, reorganization, or business combination or
(y) a sale or other disposition of all or substantially all of the Company’s
assets in any single transaction or series of related transactions or
(z) the acquisition of assets or stock of another entity, in each case
other than a transaction:

 

(i)                                     Which
results in the Company’s voting securities outstanding immediately before the
transaction continuing to represent (either by remaining outstanding or by
being converted into voting securities of the Company or the person that, as a
result of the transaction, controls, directly or indirectly, the Company or owns,
directly or indirectly, all or substantially all of the Company’s assets or
otherwise succeeds to the business of the Company (the Company or such person,
the “Successor Entity”)) directly or indirectly, at least a majority of
the combined voting power of the Successor Entity’s outstanding voting
securities immediately after the transaction, and

 

(ii)                                  After
which no person or group beneficially owns voting securities representing 50%
or more of the combined voting power of the Successor Entity; provided, however, that no person or group
shall be treated for purposes of this Section 2.4(c)(ii) as beneficially
owning 50% or more of combined voting power of the Successor Entity solely as a
result of the voting power held in the Company prior to the consummation of the
transaction; or

 

(d)                                 The
Company’s stockholders approve a liquidation or dissolution of the Company.

 

The Committee shall determine whether a Change in Control of the
Company has occurred under the above definition, and the date of the occurrence
of such Change in Control and any incidental matters relating thereto.]

 

2.5                                 “Code”
means the Internal Revenue Code of 1986, as amended.

 

2.6                                 “Committee”
means the committee of the Board described in Article 12.

 

2.7                                 “Consultant”
means any consultant or adviser if:

 

2

 

(a)                                  The
consultant or adviser renders bona fide services to the Company;

 

(b)                                 The
services rendered by the consultant or adviser are not in connection with the
offer or sale of securities in a capital-raising transaction and do not
directly or indirectly promote or maintain a market for the Company’s
securities; and

 

(c)                                  The
consultant or adviser is a natural person who has contracted directly with the
Company to render such services.

 

2.8                                 “Covered
Employee” means an Employee who is, or could be, a “covered employee”
within the meaning of Section 162(m) of the Code.

 

2.9                                 “Deferred
Stock” means a right to receive a specified number of shares of Stock
during specified time periods pursuant to Article 8.

 

2.10                           “Disability” means that the Participant qualifies to receive long-term
disability payments under the Company’s long-term disability insurance program,
as it may be amended from time to time.

 

2.11                           “Dividend
Equivalents” means a right granted to a Participant pursuant to Article 8
to receive the equivalent value (in cash or Stock) of dividends paid on Stock.

 

2.12                           “Effective
Date” shall have the meaning set forth in Section 13.1.

 

2.13                           “Employee”
means any officer or other employee (as defined in accordance with Section 3401(c)
of the Code) of the Company or any Subsidiary.

 

2.14                           “Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

2.15                           “Fair
Market Value” means, as of any given date, (i) if Stock is traded on an
exchange, the closing price of a share of Stock as reported in the Wall Street Journal for the first trading date immediate
prior to such date during which a sale occurred; or (ii) if Stock is not traded
on an exchange but is quoted on NASDAQ or a successor or other quotation
system, (x) the last sales price (if the Stock is then listed as a National
Market Issue under the NASD National Market System) or (y) the mean between the
closing representative bid and asked prices (in all other cases) for the Stock
on the date immediately prior to such date on which sales prices or bid and
asked prices, as applicable, are reported by NASDAQ or such successor quotation
system; or (iii) if such Stock is not publicly traded on an exchange and not
quoted on NASDAQ or a successor quotation system, the mean between the closing
bid and asked prices for the Stock on the day previous to such date, as
determined in good faith by the Committee; or (iv) if the Stock is not publicly
traded, the fair market value established by the Committee acting in good
faith.

 

2.16                           “Incentive
Stock Option” means an Option that is intended to meet the requirements of Section 422
of the Code or any successor provision thereto.

 

3

 

2.17                           “Non-Employee
Director” means a member of the Board who qualifies as a “Non-Employee
Director” as defined in Rule 16b-3(b)(3) of the Exchange Act, or any successor
definition adopted by the Board.

 

2.18                           “Non-Qualified
Stock Option” means an Option that is not intended to be an Incentive Stock
Option.

 

2.19                           “Option”
means a right granted to a Participant pursuant to Article 5 of the Plan
to purchase a specified number of shares of Stock at a specified price during
specified time periods.  An Option may be
either an Incentive Stock Option or a Non-Qualified Stock Option.

 

2.20                           “Other
Stock-Based Award” means an Award granted or denominated in Stock or units
of Stock pursuant to Section 8.7 of the Plan.

 

2.21                           “Participant”
means a person who, as a member of the Board, Consultant or Employee, has been
granted an Award pursuant to the Plan.

 

2.22                           “Performance
Award” means a right granted to a Participant pursuant to Article 8,
to receive a cash payment contingent upon achieving certain performance goals
established by the Committee.

 

2.23                           “Performance-Based
Award” means an Award granted to selected Covered Employees pursuant to
Articles 6 and 8, but which is subject to the terms and conditions set forth in
Article 9.

 

2.24                           “Performance
Criteria” means the criteria that the Committee selects for purposes of
establishing the Performance Goal or Performance Goals for a Participant for a
Performance Period.  The Performance
Criteria that will be used to establish Performance Goals are limited to the
following:  net earnings (either before
or after interest, taxes, depreciation and amortization), economic value-added
(as determined by the Committee), sales or revenue, net income (either before
or after taxes), operating earnings, cash flow (including, but not limited to,
operating cash flow and free cash flow), cash flow return on capital, return on
net assets, return on stockholders’ equity, return on assets, return on
capital, stockholder returns, return on sales, gross or net profit margin,
productivity, expense, margins, operating efficiency, customer satisfaction,
working capital, earnings per share, price per share of Stock, and market
share, any of which may be measured either in absolute terms or as compared to
any incremental increase or as compared to results of a peer group.  The Committee shall, within the time
prescribed by Section 162(m) of the Code, define in an objective fashion
the manner of calculating the Performance Criteria it selects to use for such
Performance Period for such Participant.

 

2.25                           “Performance
Goals” means, for a Performance Period, the goals established in writing by
the Committee for the Performance Period based upon the Performance
Criteria.  Depending on the Performance
Criteria used to establish such Performance Goals, the Performance Goals may be
expressed in terms of overall Company performance or the performance of a
division, business unit, or an individual. 
The Committee, in its discretion, may, within the time prescribed by Section 162(m)
of the Code, adjust or modify the calculation of Performance Goals for such
Performance Period in order to prevent the dilution or enlargement of the
rights of Participants (i) in the event of, or in anticipation of, any unusual
or extraordinary

 

4

 

corporate
item, transaction, event, or development, or (ii) in recognition of, or in
anticipation of, any other unusual or nonrecurring events affecting the
Company, or the financial statements of the Company, or in response to, or in
anticipation of, changes in applicable laws, regulations, accounting
principles, or business conditions.

 

2.26                           “Performance
Period” means the one or more periods of time, which may be of varying and
overlapping durations, as the Committee may select, over which the attainment
of one or more Performance Goals will be measured for the purpose of
determining a Participant’s right to, and the payment of, a Performance-Based
Award.

 

2.27                           “Performance
Share” means a right granted to a Participant pursuant to Article 8,
to receive Stock, the payment of which is contingent upon achieving certain
performance goals established by the Committee.

 

2.28                           “Performance
Stock Unit” means a right granted to a Participant pursuant to Article 8,
to receive Stock, the payment of which is contingent upon achieving certain performance
goals established by the Committee.

 

2.29                           “Plan”
means this Accuride Corporation Incentive Award Plan, as it may be amended from
time to time.

 

2.30                           “Public
Trading Date” means the first date upon which Stock is listed (or approved
for listing) upon notice of issuance on any securities exchange or designated
(or approved for designation) upon notice of issuance as a national market
security on an interdealer quotation system.

 

2.31                           “Qualified
Performance-Based Compensation” means any compensation that is intended to
qualify as “qualified performance-based compensation” as described in Section 162(m)(4)(C)
of the Code.

 

2.32                           “Restricted
Stock” means Stock awarded to a Participant pursuant to Article 6 that
is subject to certain restrictions and may be subject to risk of forfeiture.

 

2.33                           “Restricted
Stock Unit” means an Award granted pursuant to Section 8.6.

 

2.34                           “Stock”
means the common stock of the Company, par value $0.01 per share, and such
other securities of the Company that may be substituted for Stock pursuant to Article 11.

 

2.35                           “Stock
Appreciation Right” or “SAR” means a right granted pursuant to Article 7
to receive a payment equal to the excess of the Fair Market Value of a
specified number of shares of Stock on the date the SAR is exercised over the
Fair Market Value on the date the SAR was granted as set forth in the
applicable Award Agreement.

 

2.36                           “Stock
Payment” means (a) a payment in the form of shares of Stock, or (b) an
option or other right to purchase shares of Stock, as part of any bonus,
deferred compensation or other arrangement, made in lieu of all or any portion
of the compensation, granted pursuant to Article 8.

 

5

 

2.37                           “Subsidiary”
means any corporation or other entity of which a majority of the outstanding
voting stock or voting power is beneficially owned directly or indirectly by
the Company.

 

ARTICLE 3

 

SHARES SUBJECT TO THE PLAN

 

3.1                                 Number of Shares.

 

(a)                                  Subject
to Article 11 and Section 3.1(b), the aggregate number of shares of
Stock which may be issued or transferred pursuant to Awards under the Plan
shall be 1,633,988 shares.  The maximum
number of shares of Stock that may be delivered upon exercise of Incentive
Stock Options shall be 1,633,988.

 

(b)                                 Notwithstanding
Section 3.1(a): (i) the Committee may adopt reasonable counting procedures
to ensure appropriate counting, avoid double counting (as, for example, in the
case of tandem or substitute awards), and make adjustments if the number of
shares of Stock actually delivered differs from the number of shares previously
counted in connection with an Award; (ii) shares of Stock that are potentially
deliverable under any Award that expires or is canceled, forfeited, settled in
cash or otherwise terminated without a delivery of such shares to the
Participant will not be counted as delivered under the Plan; (iii) shares of
Stock that have been issued in connection with any Award (e.g., Restricted
Stock) that is canceled, forfeited, or settled in cash such that those shares
are returned to the Company will again be available for Awards; and (iv) shares
of Stock withheld in payment of the exercise price or taxes relating to any
Award and shares equal to the number surrendered in payment of any exercise
price or taxes relating to any Award shall be deemed to constitute shares not
delivered to the Participant and shall be deemed to be available for Awards
under the Plan; provided, however,
that, no shares shall become available pursuant to this Section 3.1(b) to
the extent that (x) the transaction resulting in the return of shares occurs
more than ten years after the date of the most recent shareholder approval of
the Plan, or (y) such return of shares would constitute a “material revision”
of the Plan subject to stockholder approval under then applicable rules of any
stock exchange or any quotation system. 
In addition, in the case of any Award granted in substitution for an
award of a company or business acquired by the Company or a subsidiary or
affiliate, shares of Stock issued or issuable in connection with such
substitute Award shall not be counted against the number of shares reserved
under the Plan, but shall be available under the Plan by virtue of the Company’s
assumption of the plan or arrangement of the acquired company or business. This
Section 3.1 shall apply to the share limit imposed to conform to the
regulations promulgated under the Code with respect to Incentive Stock Options
only to the extent consistent with applicable regulations relating to Incentive
Stock Options under the Code.  Because
shares will count against the number reserved in Section 3.1 upon
delivery, the Committee may, subject to the share counting rules under this Section 3.1,
determine that Awards may be outstanding that relate to a greater number of
shares than the aggregate remaining available under the Plan, so long as Awards
will not result in delivery and vesting of shares in excess of the number then
available under the Plan.  The payment of
Dividend Equivalents in conjunction with any outstanding Awards shall not be
counted against the shares available for issuance under the Plan.

 

6

 

3.2                                 Stock Distributed. 
Any Stock distributed pursuant to an Award may consist, in whole or in
part, of authorized and unissued Stock, treasury Stock or Stock purchased on
the open market.

 

3.3                                 Limitation on Number of Shares Subject to
Awards and Limit on Performance Awards.  Notwithstanding any
provision in the Plan to the contrary, and subject to Article 11, the maximum
number of shares of Stock with respect to one or more Awards that may be
granted to any one Participant during any twelve-month period (measured from
the date of any grant) shall be 500,000 and the maximum amount that may be paid
in cash as a Performance Award that is intended to be a Performance Based Award
shall not exceed $1,000,000; provided, however,
that the foregoing limitation shall apply only following the Public Trading
Date on the earliest of:  (a) the first
material modification of the Plan (including any increase in the number of
shares reserved for issuance under the Plan in accordance with Section 3.1);
(b) the issuance of all of the shares of Stock reserved for issuance under the
Plan; (c) the expiration of the Plan; (d) the first meeting of stockholders at
which members of the Board are to be elected that occurs after the close of the
third calendar year following the calendar year in which the Public Trading
Date occurred; or (e) such other date required by Section 162(m) of the
Code and the rules and regulations promulgated thereunder.

 

ARTICLE 4

 

ELIGIBILITY AND PARTICIPATION

 

4.1                                 Eligibility.

 

(a)                                  General.  Persons eligible to participate in this Plan
include Employees, Consultants, and all members of the Board, as determined by
the Committee.

 

(b)                                 Foreign
Participants.  Notwithstanding any
provision of the Plan to the contrary, in order to comply with the laws in
other countries in which the Company and its Subsidiaries operate or have
Employees, Consultants or members of the Board, the Committee, in its sole
discretion, shall have the power and authority to:

 

(i)                                     Determine
which Subsidiaries shall be covered by the Plan;

 

(ii)                                  Determine
which Employees, Consultants or members of the Board outside the Unites States
are eligible to participate in the Plan;

 

(iii)                               Modify
the terms and conditions of any Award granted to Employees, Consultants or
members of the Board outside the United States to comply with applicable
foreign laws;

 

(iv)                              Establish
subplans and modify exercise procedures and other terms and procedures, to the
extent such actions may be necessary or advisable (any such subplans and/or
modifications shall be attached to this Plan as appendices); provided, however, that no such subplans
and/or modifications shall increase the share limitations contained in Sections
3.1 and 3.3 of the Plan; and

 

7

 

(v)                                 Take
any action, before or after an Award is made, that it deems advisable to obtain
approval or comply with any necessary local governmental regulatory exemptions
or approvals.

 

Notwithstanding
the foregoing, the Committee may not take any actions hereunder, and no Awards
shall be granted, that would violate the Exchange Act, the Code, any securities
law or governing statute or any other applicable law.

 

4.2                                 Participation.  Subject to the provisions of the Plan, the
Committee may, from time to time, select from among all eligible individuals,
those to whom Awards shall be granted and shall determine the nature and amount
of each Award.  No individual shall have
any right to be granted an Award pursuant to this Plan.

 

ARTICLE 5

 

STOCK OPTIONS

 

5.1                                 General.  The Committee is
authorized to grant Options to Participants on the following terms and
conditions:

 

(a)                                  Exercise
Price.  The exercise price per share
of Stock subject to an Option shall be determined by the Committee and set
forth in the Award Agreement; provided
that the exercise price for any Option shall not be less than 100% of the Fair
Market Value on the date of grant.

 

(b)                                 Time
and Conditions of Exercise.  The
Committee shall determine the time or times at which an Option may be exercised
in whole or in part; provided
that the term of any Option granted under the Plan shall not exceed ten years
and that no Option may be exercisable earlier than one year after its date of
grant, except as provided in Section 11.2. 
The Committee shall also determine the performance or other conditions,
if any, that must be satisfied before all or part of an Option may be
exercised.

 

(c)                                  Payment.  The Committee shall determine the methods by
which the exercise price of an Option may be paid, the form of payment,
including, without limitation, (i) cash, (ii) promissory note bearing interest
at no less than such rate as shall then preclude the imputation of interest
under the Code, (iii) shares of Stock held for such period of time as may be
required by the Committee in order to avoid adverse accounting consequences and
having a Fair Market Value on the date of delivery equal to the aggregate
exercise price of the Option or exercised portion thereof, (iv) by the delivery
of a notice that the Participant has placed a market sell order with a broker
with respect to shares of Stock then issuable upon exercise of the Option, and
that the broker has been directed to pay a sufficient portion of the net
proceeds of the sale to the Company in satisfaction of the Option exercise
price; provided that payment of
such proceeds is then made to the Company upon settlement of such sale), and
the methods by which shares of Stock shall be delivered or deemed to be
delivered to Participants, or (v) other property acceptable to the Committee.  Notwithstanding any other
provision of the Plan to the contrary, no Participant who is a member of the
Board or an “executive officer” of the Company within the meaning of Section 13(k)
of the Exchange Act shall be permitted to pay the exercise price of an Option
in any method which would violate Section 13(k) of the Exchange Act.

 

8

 

(d)                                 Evidence
of Grant.  All Options shall be
evidenced by an Award Agreement between the Company and the Participant.  The Award Agreement shall include such
additional provisions as may be specified by the Committee.

 

5.2                                 Incentive Stock Options.  Incentive Stock Options shall be granted only
to Employees and the terms of any Incentive Stock Options granted pursuant to
the Plan, in addition to the requirements of Section 5.1, must comply with
the following additional provisions of this Section 5.2:

 

(a)                                  Expiration
of Option.  An Incentive Stock Option
may not be exercised to any extent by anyone after the first to occur of the
following events:

 

(i)                                     Ten
years from the date it is granted, unless an earlier time is set in the Award
Agreement;

 

(ii)                                  Three
months after the Participant’s termination of employment as an Employee; and

 

(iii)                               One
year after the date of the Participant’s termination of employment or service
on account of Disability or death.  Upon
the Participant’s Disability or death, any Incentive Stock Options exercisable
at the Participant’s Disability or death may be exercised by the Participant’s
legal representative or representatives, by the person or persons entitled to
do so pursuant to the Participant’s last will and testament, or, if the Participant
fails to make testamentary disposition of such Incentive Stock Option or dies
intestate, by the person or persons entitled to receive the Incentive Stock
Option pursuant to the applicable laws of descent and distribution.

 

(b)                                 Individual
Dollar Limitation.  The aggregate
Fair Market Value (determined as of the time the Option is granted) of all
shares of Stock with respect to which Incentive Stock Options are first
exercisable by a Participant in any calendar year may not exceed $100,000 or
such other limitation as imposed by Section 422(d) of the Code, or any
successor provision.  To the extent that
Incentive Stock Options are first exercisable by a Participant in excess of
such limitation, the excess shall be considered Non-Qualified Stock Options.

 

(c)                                  Ten
Percent Owners.  An Incentive Stock
Option shall be granted to any individual who, at the date of grant, owns stock
possessing more than ten percent of the total combined voting power of all
classes of Stock of the Company only if such Option is granted at a price that
is not less than 110% of Fair Market Value on the date of grant and the Option
is exercisable for no more than five years from the date of grant.

 

(d)                                 Transfer
Restriction.  The Participant shall
give the Company prompt notice of any disposition of shares of Stock acquired
by exercise of an Incentive Stock Option within (i) two years from the date of
grant of such Incentive Stock Option or (ii) one year after the transfer of
such shares of Stock to the Participant.

 

(e)                                  Expiration
of Incentive Stock Options.  No Award
of an Incentive Stock Option may be made pursuant to this Plan after the tenth
anniversary of the Effective Date.

 

9

 

(f)                                    Right
to Exercise.  During a Participant’s
lifetime, an Incentive Stock Option may be exercised only by the Participant.

 

5.3                                 Substitution
of Stock Appreciation Rights.  The
Committee may provide in the Award Agreement evidencing the grant of an Option
that the Committee, in its sole discretion, shall have the right to substitute
a Stock Appreciation Right for such Option at any time prior to or upon
exercise of such Option, provided that such Stock Appreciation Right shall be
exercisable for the same number of shares of Stock as such substituted Option would
have been exercisable for.

 

ARTICLE 6

 

RESTRICTED STOCK AWARDS

 

6.1                                 Grant of Restricted Stock.  The Committee is authorized to make Awards of
Restricted Stock to any Participant selected by the Committee in such amounts
and subject to such terms and conditions as determined by the Committee.  All Awards of Restricted Stock shall be
evidenced by an Award Agreement.

 

6.2                                 Issuance and Restrictions.  Restricted Stock shall be subject to such
restrictions on transferability and other restrictions as the Committee may
impose (including, without limitation, limitations on the right to vote
Restricted Stock or the right to receive dividends on the Restricted
Stock).  These restrictions may lapse
separately or in combination at such times, pursuant to such circumstances, in
such installments, or otherwise, as the Committee determines at the time of the
grant of the Award or thereafter.

 

6.3                                 Forfeiture.  Except as otherwise determined by the
Committee at the time of the grant of the Award or thereafter, upon termination
of employment or service during the applicable restriction period, Restricted
Stock that is at that time subject to restrictions shall be forfeited; provided, however, that the Committee may
(a) provide in any Restricted Stock Award Agreement that restrictions or
forfeiture conditions relating to Restricted Stock will be waived in whole or
in part in the event of terminations resulting from specified causes, and (b)
in other cases waive in whole or in part restrictions or forfeiture conditions
relating to Restricted Stock.

 

6.4                                 Certificates for Restricted Stock.  Restricted Stock granted pursuant to the Plan
may be evidenced in such manner as the Committee shall determine.  If certificates representing shares of
Restricted Stock are registered in the name of the Participant, certificates
must bear an appropriate legend referring to the terms, conditions, and
restrictions applicable to such Restricted Stock, and the Company may, at its
discretion, retain physical possession of the certificate until such time as
all applicable restrictions lapse.

 

10

 

ARTICLE 7

 

STOCK
APPRECIATION RIGHTS

 

7.1                                 Grant of Stock Appreciation Rights.

 

(a)                                  A
Stock Appreciation Right may be granted to any Participant selected by the
Committee.  A Stock Appreciation Right
shall be subject to such terms and conditions not inconsistent with the Plan as
the Committee shall impose and shall be evidenced by an Award Agreement.

 

(b)                                 A
Stock Appreciation Right shall entitle the Participant (or other person
entitled to exercise the Stock Appreciation Right pursuant to the Plan) to
exercise all or a specified portion of the Stock Appreciation Right (to the
extent then exercisable pursuant to its terms) and to receive from the Company
an amount determined by multiplying the difference obtained by subtracting the
exercise price per share of the Stock Appreciation Right from the Fair Market
Value of a share of Stock on the date of exercise of the Stock Appreciation
Right by the number of shares of Stock with respect to which the Stock
Appreciation Right shall have been exercised, subject to any limitations the
Committee may impose.

 

7.2           Payment and Limitations on
Exercise.

 

(a)           Payment of the amounts determined
under Section 7.1(b) above shall be in cash, in Stock (based on its Fair Market
Value as of the date the Stock Appreciation Right is exercised) or a
combination of both, as determined by the Committee in the Award
Agreement.  To the extent payment for a
Stock Appreciation Right is to be made in cash. 
The Award Agreements shall specify the date of payment which may be
different than the date of exercise of the Stock Appreciation Right, to the
extent necessary to comply with the requirements to Section 409A of the Code,
as applicable.  If the date of payment
for a Stock Appreciation Right is later than the date of exercise, the Award
Agreement may specify that the Participant be entitled to earnings on such
amount until paid.

 

(b)           To the extent any payment under
Section 7.1(b) is effected in Stock it shall be made subject to satisfaction of
all provisions of Article 5 above pertaining to Options.

 

ARTICLE 8

 

OTHER TYPES OF AWARDS

 

8.1                                 Performance
Share Awards.  Any Participant
selected by the Committee may be granted one or more Performance Share awards
which shall be denominated in a number of shares of Stock and which may be
linked to any one or more of the Performance Criteria or other specific
performance criteria determined appropriate by the Committee, in each case on a
specified date or dates or over any period or periods determined by the
Committee.  In making such
determinations, the Committee shall consider (among such other factors as it
deems relevant in light of the specific type of award) the contributions,
responsibilities and other compensation of the particular Participant.

 

11

 

8.2                                 Performance
Stock Units.  Any Participant selected by the
Committee may be granted one or more Performance Stock Unit awards which shall
be denominated in unit equivalent of shares of Stock and/or units of value
including dollar value of shares of Stock and which may be linked to any one or
more of the Performance Criteria or other specific performance criteria
determined appropriate by the Committee, in each case on a specified date or
dates or over any period or periods determined by the Committee (subject to Section 10.6).  In making such determinations, the Committee
shall consider (among such other factors as it deems relevant in light of the
specific type of award) the contributions, responsibilities and other
compensation of the particular Participant.

 

8.3                                 Performance
Award.  Any Participant selected by
the Committee may be granted a Performance Award.  The value of such Performance Awards may be
linked to any one or more of the Performance Criteria or other specific
performance criteria determined appropriate by the Committee, in each case on a
specified date or dates or over any Performance Period determined by the
Committee.  In making such determinations,
the Committee shall consider (among such other factors as it deems relevant in
light of the specific type of award) the contributions, responsibilities and
other compensation of the Participant.

 

8.4                                 Dividend
Equivalents.

 

                                (a)           Any Participant selected by the
Committee may be granted Dividend Equivalents based on the dividends declared
on the shares of Stock that are subject to any Award, to be credited as of
dividend payment dates, during the period between the date the Award is granted
and the date the Award is exercised, vests or expires, as determined by the
Committee.  Such Dividend Equivalents
shall be converted to cash or additional shares of Stock by such formula and at
such time and subject to such limitations as may be determined by the Committee.

 

                                (b)           Dividend Equivalents granted with
respect to Options or SARs that are intended to be Qualified Performance-Based
Compensation shall be payable, with respect to pre-exercise periods, regardless
of whether such Option or SAR is subsequently exercised.

 

8.5                                 Stock
Payments.  Any Participant selected
by the Committee may receive Stock Payments in the manner determined from time
to time by the Committee; provided,
that unless otherwise determined by the Committee such Stock Payments shall be
made in lieu of base salary, bonus, or other cash compensation otherwise
payable to such Participant.  The number
of shares shall be determined by the Committee and may be based upon the
Performance Criteria or other specific criteria determined appropriate by the
Committee, determined on the date such Stock Payment is made or on any date
thereafter.

 

8.6                                 Deferred
Stock.  Any Participant selected by
the Committee may be granted an award of Deferred Stock in the manner
determined from time to time by the Committee. 
The number of shares of Deferred Stock shall be determined by the
Committee and may be linked to the Performance Criteria or other specific
criteria determined to be appropriate by the Committee, in each case on a
specified date or dates or over any period or periods determined by the
Committee.  Stock underlying a Deferred
Stock award will not be issued until the Deferred Stock award has vested,
pursuant to a vesting schedule or criteria set by the Committee.  Unless

 

12

 

otherwise
provided by the Committee, a Participant awarded Deferred Stock shall have no
rights as a Company stockholder with respect to such Deferred Stock until such
time as the Deferred Stock Award has vested and the Stock underlying the
Deferred Stock Award has been issued.

 

8.7                                 Restricted
Stock Units.  The Committee is
authorized to make Awards of Restricted Stock Units to any Participant selected
by the Committee in such amounts and subject to such terms and conditions as
determined by the Committee.  At the time
of grant, the Committee shall specify the date or dates on which the Restricted
Stock Units shall become fully vested and nonforfeitable, and may specify such
conditions to vesting as it deems appropriate. 
At the time of grant, the Committee shall specify the maturity date
applicable to each grant of Restricted Stock Units which shall be no earlier
than the vesting date or dates of the Award and may be determined at the
election of the grantee.  On the maturity
date, the Company shall transfer to the Participant one unrestricted, fully
transferable share of Stock for each Restricted Stock Unit scheduled to be paid
out on such date and not previously forfeited. 
The Committee shall specify the purchase price, if any, to be paid by
the grantee to the Company for such shares of Stock.

 

8.8                                 Term.  Except as otherwise provided herein, the term
of any Award of Performance Shares, Performance Stock Units, Dividend
Equivalents, Stock Payments, Deferred Stock, Restricted Stock Units or Other
Stock-Based Award shall be set by the Committee in its discretion.

 

8.9                                 Exercise
or Purchase Price.  The Committee may
establish the exercise or purchase price, if any, of any Award of Performance
Shares, Performance Stock Units, Deferred Stock, Stock Payments, Restricted
Stock Units or Other Stock-Based Award; provided,
however, that such price shall not be less than the par value of a
share of Stock, unless otherwise permitted by applicable state law.

 

8.10                           Exercise Upon Termination of Employment or Service.  An Award of Performance Shares, Performance
Stock Units, Dividend Equivalents, Deferred Stock, Stock Payments, Restricted
Stock Units and Other Stock-Based Award shall only be exercisable or payable
while the Participant is an Employee, Consultant or a member of the Board, as
applicable; provided, however,
that the Committee in its sole and absolute discretion may provide that an
Award of Performance Shares, Performance Stock Units, Dividend Equivalents,
Stock Payments, Deferred Stock, Restricted Stock Units or Other Stock-Based
Award may be exercised or paid subsequent to a termination of employment or
service, as applicable, or following a Change of Control of the Company, or
because of the Participant’s retirement, death or disability, or otherwise.

 

8.11                           Form
of Payment.  Payments with respect to
any Awards granted under this Article 8 shall be made in cash, in Stock or
a combination of both, as determined by the Committee.

 

8.12                           Award
Agreement.  All Awards under this Article 8
shall be subject to such additional terms and conditions as determined by the
Committee and shall be evidenced by an Award Agreement.

 

13

 

ARTICLE 9

 

PERFORMANCE-BASED AWARDS

 

9.1                                 Purpose.  The purpose of this Article 9 is to
provide the Committee the ability to qualify Awards other than Options and SARs
and that are granted pursuant to Articles 6 and 8 as Qualified
Performance-Based Compensation.  If the
Committee, in its discretion, decides to grant a Performance-Based Award to a
Covered Employee, the provisions of this Article 9 shall control over any
contrary provision contained in Articles 6 or 8; provided, however, that the Committee may in its discretion
grant Awards to Covered Employees or other Participants that are based on
Performance Criteria or Performance Goals but that do not satisfy the
requirements of this Article 9.

 

9.2                                 Applicability.  This Article 9 shall apply only to those
Covered Employees selected by the Committee to receive Performance-Based
Awards.  The designation of a Covered
Employee as a Participant for a Performance Period shall not in any manner
entitle the Participant to receive an Award for the period.  Moreover, designation of a Covered Employee
as a Participant for a particular Performance Period shall not require
designation of such Covered Employee as a Participant in any subsequent
Performance Period and designation of one Covered Employee as a Participant
shall not require designation of any other Covered Employees as a Participant
in such period or in any other period.

 

9.3                                 Procedures with Respect to Performance-Based
Awards.  To the extent
necessary to comply with the Qualified Performance-Based Compensation
requirements of Section 162(m)(4)(C) of the Code, with respect to any
Award granted under Articles 6 and 8 which may be granted to one or more
Covered Employees, no later than ninety (90) days following the commencement of
any fiscal year in question or any other designated fiscal period or period of
service (or such other time as may be required or permitted by Section 162(m)
of the Code), the Committee shall, in writing, (a) designate one or more
Covered Employees, (b) select the Performance Criteria applicable to the
Performance Period, (c) establish the Performance Goals, and amounts of such
Awards, as applicable, which may be earned for such Performance Period, and (d)
specify the relationship between Performance Criteria and the Performance Goals
and the amounts of such Awards, as applicable, to be earned by each Covered
Employee for such Performance Period. 
Following the completion of each Performance Period, the Committee shall
certify in writing whether the applicable Performance Goals have been achieved
for such Performance Period.  In
determining the amount earned by a Covered Employee, the Committee shall have
the right to reduce or eliminate (but not to increase) the amount payable at a
given level of performance to take into account additional factors that the
Committee may deem relevant to the assessment of individual or corporate
performance for the Performance Period.

 

9.4                                 Payment of Performance-Based Awards.  Unless otherwise provided in the applicable
Award Agreement, a Participant must be employed by the Company or a Subsidiary
on the day a Performance-Based Award for such Performance Period is paid to the
Participant.  Furthermore, a Participant
shall be eligible to receive payment pursuant to a Performance-Based Award for
a Performance Period only if the Performance Goals for such period are
achieved.  In determining the amount
earned under a Performance-Based Award, the Committee may reduce or eliminate
the amount of the Performance-Based Award earned for the Performance Period, if

 

14

 

in its
sole and absolute discretion, such reduction or elimination is appropriate.

 

9.5                                 Additional
Limitations.  Notwithstanding any
other provision of the Plan, any Award which is granted to a Covered Employee
and is intended to constitute Qualified Performance-Based Compensation shall be
subject to any additional limitations set forth in Section 162(m) of the
Code (including any amendment to Section 162(m) of the Code) or any
regulations or rulings issued thereunder that are requirements for
qualification as qualified performance-based compensation as described in Section 162(m)(4)(C)
of the Code, and the Plan shall be deemed amended to the extent necessary to
conform to such requirements.

 

ARTICLE 10

 

PROVISIONS APPLICABLE TO AWARDS

 

10.1                           Stand-Alone and Tandem Awards.  Awards granted pursuant to the Plan may, in
the discretion of the Committee, be granted either alone, in addition to, or in
tandem with, any other Award granted pursuant to the Plan. Awards granted in
addition to or in tandem with other Awards may be granted either at the same
time as or at a different time from the grant of such other Awards.

 

10.2                           Award Agreement.  Awards under the Plan shall be evidenced by
Award Agreements that set forth the terms, conditions and limitations for each
Award which may include the term of an Award, the provisions applicable in the
event the Participant’s employment or service terminates, and the Company’s
authority to unilaterally or bilaterally amend, modify, suspend, cancel or
rescind an Award.

 

10.3                           Limits on Transfer.  No right or interest of a Participant in any
Award may be pledged, encumbered, or hypothecated to or in favor of any party
other than the Company or a Subsidiary, or shall be subject to any lien,
obligation, or liability of such Participant to any other party other than the Company
or a Subsidiary.  Except as otherwise
provided by the Committee, no Award shall be assigned, transferred, or
otherwise disposed of by a Participant other than by will or the laws of
descent and distribution.  The Committee
by express provision in the Award or an amendment thereto may permit an Award
(other than an Incentive Stock Option) to be transferred to, exercised by and
paid to certain persons or entities related to the Participant, including but
not limited to members of the Participant’s family, charitable institutions, or
trusts or other entities whose beneficiaries or beneficial owners are members
of the Participant’s family and/or charitable institutions, or to such other
persons or entities as may be expressly approved by the Committee, pursuant to
such conditions and procedures as the Committee may establish.  Any permitted transfer shall be subject to
the condition that the Committee receive evidence satisfactory to it that the
transfer is being made for estate and/or tax planning purposes (or to a “blind
trust” in connection with the Participant’s termination of employment or
service with the Company or a Subsidiary to assume a position with a
governmental, charitable, educational or similar non-profit institution) and on
a basis consistent with the Company’s lawful issue of securities.

 

10.4                           Beneficiaries.  Notwithstanding Section 10.3, a
Participant may, in the manner determined by the Committee, designate a
beneficiary to exercise the rights of the Participant

 

15

 

and to
receive any distribution with respect to any Award upon the Participant’s
death.  A beneficiary, legal guardian,
legal representative, or other person claiming any rights pursuant to the Plan
is subject to all terms and conditions of the Plan and any Award Agreement
applicable to the Participant, except to the extent the Plan and Award
Agreement otherwise provide, and to any additional restrictions deemed
necessary or appropriate by the Committee. 
If the Participant is married and resides in a community property state,
a designation of a person other than the Participant’s spouse as his or her
beneficiary with respect to more than 50% of the Participant’s interest in the
Award shall not be effective without the prior written consent of the
Participant’s spouse.  If no beneficiary
has been designated or survives the Participant, payment shall be made to the
person entitled thereto pursuant to the Participant’s will or the laws of
descent and distribution.  Subject to the
foregoing, a beneficiary designation may be changed or revoked by a Participant
at any time provided the change or revocation is filed with the Committee.

 

10.5                           Stock Certificates.  Notwithstanding anything herein to the
contrary, the Company shall not be required to issue or deliver any
certificates evidencing shares of Stock pursuant to the exercise of any Award,
unless and until the Board has determined, with advice of counsel, that the
issuance and delivery of such certificates is in compliance with all applicable
laws, regulations of governmental authorities and, if applicable, the
requirements of any exchange on which the shares of Stock are listed or
traded.  All Stock certificates delivered
pursuant to the Plan are subject to any stop-transfer orders and other
restrictions as the Committee deems necessary or advisable to comply with
federal, state, or foreign jurisdiction, securities or other laws, rules and
regulations and the rules of any national securities exchange or automated
quotation system on which the Stock is listed, quoted, or traded.  The Committee may place legends on any Stock
certificate to reference restrictions applicable to the Stock.  In addition to the terms and conditions
provided herein, the Board may require that a Participant make such reasonable
covenants, agreements, and representations as the Board, in its discretion,
deems advisable in order to comply with any such laws, regulations, or
requirements. The Committee shall have the right to require any Participant to comply with any timing or
other restrictions with respect to the settlement or exercise of any Award,
including a window-period limitation, as may be imposed in the discretion of
the Committee.

 

10.6                           Paperless
Exercise.  In the event that the
Company establishes, for itself or using the services of a third party, an
automated system for the exercise of Awards, such as a system using an internet
website or interactive voice response, then the paperless exercise of Awards by
a Participant may be permitted through the use of such an automated system.

 

ARTICLE 11

 

CHANGES IN CAPITAL STRUCTURE

 

11.1                           Adjustments.  In the event of any stock dividend, stock
split, combination or exchange of shares, merger, consolidation, spin-off,
recapitalization or other distribution (other than normal cash dividends) of
Company assets to stockholders, or any other change affecting the shares of
Stock or the share price of the Stock, the Committee shall make such
proportionate adjustments, if any, as the Committee in its discretion may deem
appropriate to reflect such change with respect to (a) the aggregate number and
type of shares that may be issued under the Plan (including, but not limited
to, adjustments of the limitations in Sections 3.1 and 3.3); (b) the

 

16

 

terms
and conditions of any outstanding Awards (including, without limitation, any
applicable performance targets or criteria with respect thereto); and (c) the
grant or exercise price per share for any outstanding Awards under the Plan.  Any adjustment affecting an Award intended as
Qualified Performance-Based Compensation shall be made consistent with the
requirements of Section 162(m) of the Code.

 

11.2                           Acceleration upon a Change of Control.  Except as may otherwise be provided in any Award
Agreement or any other written agreement entered into by and between the
Company and a Participant, if a Change of Control occurs and a Participant’s Options,
Restricted Stock or Stock Appreciation Rights settled in stock are not
converted, assumed, or replaced by a successor, such Awards shall become fully
exercisable and all forfeiture restrictions on such Awards shall lapse; and
provided such Change of Control is a change in the ownership or effective
control of the Company or in the ownership of or a substantial portion of the
assets of the Company within the meaning of Section 409A of the Code, then
all Restricted Stock Units, Deferred Stock and Performance Stock shall become
deliverable upon the Change of Control. 
Upon, or in anticipation of, a Change of Control, the Committee may in
its sole discretion provide for (i) any and all Awards outstanding hereunder to
terminate at a specific time in the future and shall give each Participant the
right to exercise such Awards during a period of time as the Committee shall
determine, (ii) either the purchase of any Award for an amount of cash equal to
the amount that could have been attained upon the exercise of such Award or
realization of the Participant’s rights had such Award been currently
exercisable or payable or fully vested (and, for the avoidance of doubt, if as
of such date the Committee determines in good faith that no amount would have
been attained upon the exercise of such Award or realization of the Participant’
s rights, then such Award may be terminated by the Company without payment),
(iii) the replacement of such Award with other rights or property selected by
the Committee in its sole discretion the assumption of or substitution of such
Award by the successor or surviving corporation, or a parent or subsidiary
thereof, with appropriate adjustments as to the number and kind of Shares and
prices, or (iv) provide for payment of Awards in cash based on the value of
Stock on the date of the Change of Control plus reasonable interest on the Award
through the date such Award would otherwise be vested or have been paid in
accordance with its original terms, if necessary to comply with Section 409A
of the Code.

 

11.3                           Outstanding Awards – Certain Mergers. 
Subject to any required action by the stockholders of the Company, in
the event that the Company shall be the surviving corporation in any merger or
consolidation (except a merger or consolidation as a result of which the
holders of shares of Stock receive securities of another corporation), each Award
outstanding on the date of such merger or consolidation shall pertain to and
apply to the securities that a holder of the number of shares of Stock subject
to such Award would have received in such merger or consolidation.

 

17

 

11.4                           Outstanding Awards – Other Changes.  In the event of any other change in the
capitalization of the Company or corporate change other than those specifically
referred to in this Article 11, the Committee may, in its absolute discretion,
make such adjustments in the number and class of shares subject to Awards
outstanding on the date on which such change occurs and in the per share grant
or exercise price of each Award as the Committee may consider appropriate to
prevent dilution or enlargement of rights.

 

11.5                           No Other Rights.  Except as expressly provided in the Plan, no
Participant shall have any rights by reason of any subdivision or consolidation
of shares of stock of any class, the payment of any dividend, any increase or
decrease in the number of shares of stock of any class or any dissolution,
liquidation, merger, or consolidation of the Company or any other
corporation.  Except as expressly
provided in the Plan or pursuant to action of the Committee under the Plan, no
issuance by the Company of shares of stock of any class, or securities
convertible into shares of stock of any class, shall affect, and no adjustment
by reason thereof shall be made with respect to, the number of shares of Stock
subject to an Award or the grant or exercise price of any Award.

 

ARTICLE 12

 

ADMINISTRATION

 

12.1                           Committee.  Unless and until the Board delegates
administration of the Plan to a Committee as set forth below, the Plan shall be
administered by the full Board, and for such purposes the term “Committee” as
used in this Plan shall be deemed to refer to the Board.  The Board, at its discretion or as otherwise
necessary to comply with the requirements of Section 162(m) of the Code,
Rule 16b-3 promulgated under the Exchange Act or to the extent required by any
other applicable rule or regulation, shall delegate administration of the Plan
to a Committee.   Following the Public
Trading Date, the Committee shall consist of at least two individuals, each of
whom qualifies as (a) a Non-Employee Director, and (b) an “outside director”
pursuant to Code Section 162(m) and the regulations issued
thereunder.  Notwithstanding the
foregoing:  (x) the full Board, acting by
a majority of its members in office, shall conduct the general administration
of the Plan with respect to all Awards granted to Directors and for purposes of
such Awards the term “Committee” as used in this Plan shall be deemed to refer
to the Board, and (y) the Committee may delegate its authority hereunder to the
extent permitted by Section 12.5. 
Appointment of Committee members shall be effective upon acceptance of
appointment.  The Board may abolish the
Committee at any time and revest in the Board the administration of the
Plan.  Committee members may resign at
any time by delivering written notice to the Board.  Vacancies in the Committee may only be filled
by the Board.

 

12.2                           Action by the Committee.  A majority of the Committee shall constitute
a quorum.  The acts of a majority of the
members present at any meeting at which a quorum is present, and acts approved
in writing by a majority of the Committee in lieu of a meeting, shall be deemed
the acts of the Committee.  Each member
of the Committee is entitled to, in good faith, rely or act upon any report or
other information furnished to that member by any officer or other employee of
the Company or any Subsidiary, the Company’s independent certified public
accountants, or any executive compensation consultant or other professional
retained by the Company to assist in the administration of the Plan.

 

18

 

12.3                           Authority of Committee.  Subject to any specific designation in the
Plan, the Committee has the exclusive power, authority and discretion to:

 

(a)                                  Designate
Participants to receive Awards;

 

(b)                                 Determine
the type or types of Awards to be granted to each Participant;

 

(c)                                  Determine
the number of Awards to be granted and the number of shares of Stock to which
an Award will relate;

 

(d)                                 Determine
the terms and conditions of any Award granted pursuant to the Plan, including,
but not limited to, the exercise price, grant price, or purchase price, any
restrictions or limitations on the Award, any schedule for lapse of
forfeiture restrictions or restrictions on the exercisability of an Award, and
accelerations or waivers thereof, any provisions related to non-competition and
recapture of gain on an Award, based in each case on such considerations as the
Committee in its sole discretion determines; provided,
however, that the Committee shall not have the authority to
accelerate the vesting or waive the forfeiture of any Performance-Based Awards;

 

(e)                                  Determine
whether, to what extent, and pursuant to what circumstances an Award may be
settled in, or the exercise price of an Award may be paid in, cash, Stock,
other Awards, or other property, or an Award may be canceled, forfeited, or
surrendered;

 

(f)                                    Prescribe
the form of each Award Agreement, which need not be identical for each
Participant;

 

(g)                                 Decide
all other matters that must be determined in connection with an Award;

 

(h)                                 Establish,
adopt, or revise any rules and regulations as it may deem necessary or
advisable to administer the Plan;

 

(i)                                     Interpret
the terms of, and any matter arising pursuant to, the Plan or any Award
Agreement; and

 

(j)                                     Make
all other decisions and determinations that may be required pursuant to the
Plan or as the Committee deems necessary or advisable to administer the Plan.

 

12.4                           Delegation
of Authority.  To the extent
permitted by applicable law, the Committee may from time to time delegate to a
committee of one or more members of the Board or one or more officers of the
Company the authority to grant or amend Awards to Participants other than (a)
senior executives of the Company who are subject to Section 16 of the Exchange
Act, (b) Covered Employees, or (c) officers of the Company (or members of the
Board) to whom authority to grant or amend Awards has been delegated
hereunder.  Any delegation hereunder
shall be subject to the restrictions and limits that the Committee specifies at
the time of such delegation, and the Committee may at any time rescind the
authority so delegated or appoint a new delegatee.  At all times, the delegatee appointed under
this Section 12.5 shall serve in such capacity at the pleasure of the Committee.

 

19

 

12.5                           Decisions Binding.  The Committee’s interpretation of the Plan,
any Awards granted pursuant to the Plan, any Award Agreement and all decisions
and determinations by the Committee with respect to the Plan are final,
binding, and conclusive on all parties.

 

ARTICLE 13

 

EFFECTIVE AND EXPIRATION DATE

 

13.1                           Effective Date.  The Plan is effective as of the date the Plan
is approved by the Company’s stockholders (the “Effective Date”).  The Plan will be deemed to be approved by the
stockholders if it receives the affirmative vote of the holders of a majority
of the shares of stock of the Company present or represented and entitled to
vote at a meeting duly held in accordance with the applicable provisions of the
Company’s Bylaws.

 

13.2                           Expiration Date.  The Plan will expire on, and no Award may be
granted pursuant to the Plan after, the tenth anniversary of the Effective
Date.  Any Awards that are outstanding on
the tenth anniversary of the Effective Date shall remain in force according to
the terms of the Plan and the applicable Award Agreement.

 

ARTICLE 14

 

AMENDMENT, MODIFICATION, AND
TERMINATION

 

14.1                           Amendment, Modification, And Termination.  With the approval of the Board, at any time
and from time to time, the Committee may terminate, amend or modify the Plan; provided, however, that (a) to the extent
necessary and desirable to comply with any applicable law, regulation, or stock
exchange rule, the Company shall obtain stockholder approval of any Plan
amendment in such a manner and to such a degree as required, and (b)
stockholder approval is required for any amendment to the Plan that (i)
increases the number of shares available under the Plan (other than any
adjustment as provided by Article 11), (ii) permits the Committee to grant
Options with an exercise price that is below Fair Market Value on the date of
grant, (iii) permits the Committee to extend the exercise period for an Option
beyond ten years from the date of grant, or (iv) results in a material increase
in benefits or a change in eligibility requirements.  Notwithstanding any provision in this Plan to
the contrary, absent approval of the stockholders of the Company, no Option may
be amended to reduce the per share exercise price of the shares subject to such
Option below the per share exercise price as of the date the Option is granted
and, except as permitted by Article 11, no Option may be granted in
exchange for, or in connection with, the cancellation or surrender of an Option
having a higher per share exercise price.

 

14.2                           Awards Previously Granted.  No termination, amendment, or modification of
the Plan shall adversely affect in any material way any Award previously
granted pursuant to the Plan without the prior written consent of the
Participant.

 

20

 

ARTICLE 15

 

GENERAL PROVISIONS

 

15.1                           No Rights to Awards.  No Participant, employee, or other person
shall have any claim to be granted any Award pursuant to the Plan, and neither
the Company nor the Committee is obligated to treat Participants, employees,
and other persons uniformly.

 

15.2                           No Stockholders Rights.  No Award gives the Participant any of the
rights of a stockholder of the Company unless and until shares of Stock are in
fact issued to such person in connection with such Award.

 

15.3                           Withholding.  The Company or any Subsidiary shall have the
authority and the right to deduct or withhold, or require a Participant to
remit to the Company, an amount sufficient to satisfy federal, state, local and
foreign taxes (including the Participant’s employment tax obligations) required
by law to be withheld with respect to any taxable event concerning a
Participant arising as a result of this Plan. 
The Committee may in its discretion and in satisfaction of the foregoing
requirement allow a Participant to elect to have the Company withhold shares of
Stock otherwise issuable under an Award (or allow the return of shares of
Stock) having a Fair Market Value equal to the sums required to be withheld.  Notwithstanding any other provision of the
Plan, the number of shares of Stock which may be withheld with respect to the
issuance, vesting, exercise or payment of any Award (or which may be
repurchased from the Participant of such Award within six months after such
shares of Stock were acquired by the Participant from the Company) in order to
satisfy the Participant’s federal, state, local and foreign income and payroll
tax liabilities with respect to the issuance, vesting, exercise or payment of
the Award shall be limited to the number of shares which have a Fair Market
Value on the date of withholding or repurchase equal to the aggregate amount of
such liabilities based on the minimum statutory withholding rates for federal,
state, local and foreign income tax and payroll tax purposes that are
applicable to such supplemental taxable income.

 

15.4                           No Right to Employment or Services.  Nothing in the Plan or any Award Agreement
shall interfere with or limit in any way the right of the Company or any Subsidiary
to terminate any Participant’s employment or services at any time, nor confer
upon any Participant any right to continue in the employ or service of the
Company or any Subsidiary.

 

15.5                           Unfunded Status of Awards.  The Plan is intended to be an “unfunded” plan
for incentive compensation.  With respect
to any payments not yet made to a Participant pursuant to an Award, nothing
contained in the Plan or any Award Agreement shall give the Participant any
rights that are greater than those of a general creditor of the Company or any
Subsidiary.

 

15.6                           Indemnification.  To the extent allowable pursuant to
applicable law, each member of the Committee or of the Board shall be
indemnified and held harmless by the Company from any loss, cost, liability, or
expense that may be imposed upon or reasonably incurred by such member in
connection with or resulting from any claim, action, suit, or proceeding to
which he or she may be a party or in which he or she may be involved by reason
of any action or failure to act pursuant to the Plan and against and from any
and all amounts paid by him or her in satisfaction of judgment in such action,
suit, or proceeding against him or her;

 

21

 

provided he or she gives the Company an
opportunity, at its own expense, to handle and defend the same before he or she
undertakes to handle and defend it on his or her own behalf.  The foregoing right of indemnification shall
not be exclusive of any other rights of indemnification to which such persons
may be entitled pursuant to the Company’s Certificate of Incorporation or
Bylaws, as a matter of law, or otherwise, or any power that the Company may
have to indemnify them or hold them harmless.

 

15.7                           Relationship to other Benefits.  No payment pursuant to the Plan shall be
taken into account in determining any benefits pursuant to any pension,
retirement, savings, profit sharing, group insurance, welfare or other benefit
plan of the Company or any Subsidiary except to the extent otherwise expressly
provided in writing in such other plan or an agreement thereunder.

 

15.8                           Expenses.  The expenses of administering the Plan shall
be borne by the Company and its Subsidiaries.

 

15.9                           Titles and Headings.  The titles and headings of the Sections in
the Plan are for convenience of reference only and, in the event of any
conflict, the text of the Plan, rather than such titles or headings, shall
control.

 

15.10                     Fractional Shares.  No fractional shares of Stock shall be issued
and the Committee shall determine, in its discretion, whether cash shall be
given in lieu of fractional shares or whether such fractional shares shall be
eliminated by rounding up or down as appropriate.

 

15.11                     Limitations
Applicable to Section 16 Persons. 
Notwithstanding any other provision of the Plan, the Plan, and any Award
granted or awarded to any Participant who is then subject to Section 16 of
the Exchange Act, shall be subject to any additional limitations set forth in
any applicable exemptive rule under Section 16 of the Exchange Act
(including any amendment to Rule 16b-3 of the Exchange Act) that are
requirements for the application of such exemptive rule.  To the extent permitted by applicable law,
the Plan and Awards granted or awarded hereunder shall be deemed amended to the
extent necessary to conform to such applicable exemptive rule.

 

15.12                     Government and Other Regulations.  The obligation of the Company to make payment
of awards in Stock or otherwise shall be subject to all applicable laws, rules,
and regulations, and to such approvals by government agencies as may be
required.  The Company shall be under no
obligation to register pursuant to the Securities Act of 1933, as amended, any
of the shares of Stock paid pursuant to the Plan.  If the shares paid pursuant to the Plan may
in certain circumstances be exempt from registration pursuant to the Securities
Act of 1933, as amended, the Company may restrict the transfer of such shares
in such manner as it deems advisable to ensure the availability of any such
exemption.

 

15.13                     Governing Law.  The Plan and all Award Agreements shall be
construed in accordance with and governed by the laws of the State of Delaware.

 

22

 

*  *  * 
*  *

 

I
hereby certify that the foregoing Plan was duly adopted by the Board of
Directors of Accuride Corporation on                        
     , 2005.

 

*  *  * 
*  *

 

I
hereby certify that the foregoing Plan was approved by the stockholders of Accuride
Corporation on                        
     , 2005.

 

Executed
on this          day of                        
     , 2005.

 

 

	
   

  	
   

  
	
   

  	
  Corporate Secretary

  

 

23

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