Document:

Employment Agreement, between the Registrant and Derrell E. Hunter

 Exhibit 10.5 
  
 EMPLOYMENT AGREEMENT 
  
 THIS EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of October 1, 2003 between Kforce Inc., a Florida corporation (the
“Employer”), and Derrell E. Hunter (the “Executive”). 
  
 BACKGROUND 
  
 The Employer
desires to obtain the benefit of services by the Executive, and the Executive desires to render services to the Employer. 
  
 The Compensation Committee of the Board of Directors of the Employer has determined that it is in the Employer’s best interest to employ the
Executive on the terms and conditions contained herein. 
  
 The
Employer and the Executive desire to set forth in this Agreement the terms and conditions of the Executive’s employment with the Employer. Accordingly, in consideration of the mutual covenants and representations set forth below, the
sufficiency of which is hereby acknowledged, the Employer and the Executive agree as follows: 
  
 TERMS 
  
 1.
EMPLOYMENT. 
  
 The Executive agrees to employment with
the Employer (and one or more of the Employer’s subsidiary corporations if and when assigned by Employer) to render the services specified in this Agreement upon the terms and conditions and for the compensation provided in this Agreement, and
Employer agrees to so employ Executive. All compensation paid to the Executive by the Employer or any subsidiary of the Employer, and all benefits and perquisites received by the Executive from the Employer or any of its subsidiaries, will be
aggregated in determining whether the Executive has received the compensation and benefits provided for in this Agreement. 
  
 2. TERM OF EMPLOYMENT. 
  
 (a) End of Term. The term of the employment of the Executive under this Agreement will be for the period commencing on the date of this Agreement
and ending on the earliest of: 
  
 (i) 2 years and 364 days
after notice of termination of this Agreement is given by the Employer to the Executive; 

 (ii) the date of termination of the Executive’s employment by the Executive at Executive’s
election and without “Good Reason” (as defined in Section 9 of this Agreement); 
  
 (iii) the date of termination of the Executive’s employment by the Employer for “Cause” (as defined in Section 8 of this Agreement) or by the Employer without Cause in accordance with Section 9 or by
the Executive for Good Reason pursuant to Section 9; 
  
 (iv) the
date of the Executive’s death; or 
  
 (v) the Disability
Effective Date (as such term is defined in Section 5 of this Agreement) following the Executive’s Disability (as such term is defined in Section 5 of this Agreement). 
  
 It is understood that at each and every moment of time the remaining term of employment hereunder shall be 2 years and 364 days, unless this
Agreement or Executive’s employment is terminated in accordance with the provisions of this Section 2. 
  
 (b) Date of Termination. As used in this Agreement the term “Date of Termination” means (i) if the Executive’s employment is
terminated by the Employer pursuant to clause (i) of Section 2(a) above, the date that is 2 years and 364 days after the date of the Executive’s receipt of the notice of termination of this Agreement or any later date specified in such notice,
as the case may be, (ii) if the Executive terminates Executive’s employment at Executive’s election and without Good Reason pursuant to clause (ii) of Section 2(a), the date of the Employer’s receipt of the notice of termination from
the Executive or any later date specified in such notice, as the case may be, (iii) if the Executive’s employment is terminated by the Employer for Cause or by the Employer without Cause pursuant to Section 9 of this Agreement, or by the
Executive for Good Reason, fifteen days after the date of receipt of the notice of termination by the Executive or the Employer, respectively, or any later date specified in such notice, as the case may be, (iv) if the Executive’s employment
terminates by reason of the Executive’s voluntary retirement, the date that such retirement becomes effective in accordance with the Employer’s plans and policies; and (v) if the Executive’s employment is terminated by reason of death
or Disability, the date of death of the Executive or the Disability Effective Date (as that term is defined in Section 5 of this Agreement). 
  
 3. SERVICES TO BE RENDERED; EXCLUSIVITY. 
  
 (a) Service. During the term of the Executive’s employment under this Agreement, the Executive shall perform the duties of Chief Financial
Officer, or any reasonably comparable duties that may be assigned to the Executive from time to time. 
  

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 (b) Full Time Efforts. During the term of this Agreement and excluding any periods of vacation,
family or sick leave or holidays to which the Executive is entitled, the Executive shall devote Executive’s full business time and energy to the business, affairs and interests of the Employer and its subsidiaries, and matters related thereto,
and shall use Executive’s reasonable commercial efforts and ability to promote the interests of the Employer and its subsidiaries. The Executive agrees that he/she will diligently endeavor to promote the business, affairs and interests of the
Employer and its subsidiaries and that Executive will perform services contemplated hereby in accordance with the policies established by the Employer from time to time. The Executive shall serve without additional remuneration in such senior
executive capacities for one or more direct or indirect subsidiaries of the Employer as the Employer may from time to time request, subject to appropriate authorization by the subsidiary or subsidiaries involved and any limitations under applicable
law and indemnification on the same terms as the Executive is indemnified by the Employer. The failure of the Executive to discharge an order or perform a function because the Executive reasonably and in good faith believes such would violate a law
or regulation or be dishonest shall not be deemed a breach by Executive of Executive’s obligations or duties under this Agreement and shall not entitle the Employer to terminate this Agreement pursuant to any of its provisions. 
  
 (c) Certain Permissible Activities. The Executive may serve as a
director or in any other capacity of any business enterprise, including an enterprise whose activities may involve or relate to the business of the Employer or any of its subsidiaries but only if such service is expressly approved by the Employer in
writing. The Executive may (i) make and manage personal business investments of Executive’s choice, (ii) teach at educational institutions and deliver lectures, and (iii) serve in any capacity with any civic, educational or charitable
organization, or any governmental entity or trade association, in each such case without seeking or obtaining approval by the Employer so long as such activities and service do not materially interfere or conflict with the performance of
Executive’s duties under this Agreement. It is agreed that to the extent that the Employer shall have approved any service of the Executive pursuant to the first sentence of this Section 3(c) prior to a Change in Control Date (as defined in
Section 10 below), or to the extent that the Executive may have engaged in activities pursuant to the second sentence of this Section 3(c) prior to such Change in Control Date, the continued conduct of such activities or the conduct of activities
similar in nature and scope thereto during the 2 years and 364 days subsequent to such Change in Control Date shall be permissible and not in violation of any provisions of this Agreement and the previously obtained Employer approval may not be
revoked or limited in any material respect during the 2 years and 364 days following such Change in Control Date. 
  

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 4. COMPENSATION AND BENEFITS. 
  
 (a) Base Salary. The Employer agrees that the Executive will be paid for Executive’s services under this
Agreement a salary at the annual rate of at least $350,000, payable in periodic installments in accordance with the Employer’s normal salary payment dates for the Executive. Such salary as in effect from time to time is referred to in this
Agreement as the Executive’s “Base Salary.” 
  
 (b) Additional Benefits. The Executive shall also be entitled during the term of this Agreement to all rights and benefits for which Executive is otherwise eligible under any bonus plan, stock option plan, stock purchase plan,
participation or extra compensation plan, supplemental executive retirement plan, deferred compensation plan, profit-sharing plan, life, medical and dental insurance policy, director and officer liability insurance plan or indemnification program,
vacation, sick leave, family leave and holiday program or plan, or plans that confer the use of automobiles or condominiums (and pay the related expenses thereof) or that pay for club membership fees or tax or financial counseling or other plans or
benefits, in any such case, which the Employer or any of its subsidiaries (i) may provide for the Executive or (ii) provided the Executive is eligible to participate therein, may provide generally to officers of the Employer (collectively,
“Additional Benefits”). This Agreement shall not affect adversely (from the perspective of the Executive) the provisions of any other compensation, retirement or other benefit program or plan of the Employer or any of its subsidiaries and
shall not be considered to be a guarantee that the Executive will receive any awards or other benefits under any plans, policies or arrangements which are performance-related. Moreover, Executive’s participation in any such plan shall be
subject to the provisions of applicable law, including the Employee Retirement Income Security Act of 1974, as amended. 
  
 (c) Individual Benefits. The Employer shall continue to provide to the Executive such individual perquisites as are in effect for Executive as of
the first day of Executive’s employment under this agreement. 
  
 (d) Expense Reimbursement. The Employer agrees to reimburse the Executive in full for all such reasonable and necessary business, entertainment and travel expenses incurred or expended by Executive in connection with the performance
of Executive’s duties under this Agreement; provided the Executive submits to the Employer vouchers or expense statements satisfactorily evidencing such expenses as may be reasonably required by the Employer and such expenses are in accordance
with any applicable corporate policy. 
  

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 (e) Limitations on Reductions. The Employer shall have the right to reduce one or more Additional
Benefits but only in conjunction with a corollary reduction of such benefits applicable to all of the Employer’s officers. Any increase in the Executive’s Base Salary shall not serve to limit or reduce any other obligation to the Executive
under this Agreement. 
  
 5. TERMINATION UPON DISABILITY.

  
 (a) Continuation of Benefits upon Disability. If the
Executive becomes totally and permanently unable to perform Executive’s duties because of any Disability (as defined below) during the term of Executive’s employment under this Agreement, the Executive’s full-time employment under
this Agreement shall terminate effective on the thirtieth day after the Executive’s receipt of written notice of termination from the Employer (such thirtieth day being referred to in this Agreement as the “Disability Effective
Date”). In addition to the payments specified in Section 6 below, in the event of termination of the Executive’s employment pursuant to this Section 5, the Employer shall continue to pay or provide the Executive the following: 

 
 (i) until the earliest to occur of the Executive’s death, the
Executive’s 65th birthday, 2 years and 364 days after the Disability Effective Date or the date of the Executive’s return to full-time employment hereunder pursuant to Section 5(f) (such earliest day being referred to herein as the
“Disability Termination of Benefits Date”) the Base Salary, medical, dental and other insurance and welfare type Additional Benefits in which the Executive was participating immediately prior to the Disability Effective Date (including,
without limitation, medical, dental, life and disability insurance), each such benefit to be continued in a manner no less favorable to the Executive than the benefit to which Executive was entitled immediately prior to the Disability Effective
Date; provided, however, if the Executive’s death occurs during the 2 years and 364 days after the Disability Effective Date, the Employer shall continue to pay the Base Salary and to pay or provide medical, dental and other
insurance and welfare type benefits, on the basis described in this clause (i), to the Executive’s family members who were covered for such benefits immediately prior to the Executive’s death for the balance of such 2 years and 364 days
period; 
  
 (ii) until the Disability Effective Date, a
continuation of vesting of all unvested stock options granted by the Employer to the Executive, such vesting to occur in accordance with the terms of each such grant as in effect on the Disability Effective Date and upon the assumption that no
termination of employment had occurred; provided, however, if the Executive’s death occurs during the 2 years and 364 days immediately after the Disability Effective Date or if a Change in Control occurs prior to the Disability
Effective Date, such vesting shall include any vesting which would occur upon the Executive’s death or a Change in Control during employment with the Employer; and provided, further, that, if and 
  

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 to the extent further vesting is prohibited by the terms of any one or more of such grants or otherwise, the Executive
shall be entitled to in-lieu cash payments from the Employer on each date (each a “Vesting Date”) when vesting would have occurred absent such prohibition, but in no event beyond 2 years and 364 days following the Disability Effective
Date, equal to the spread on such Vesting Date between the exercise price and fair market value of stock subject to stock options that would have otherwise vested on such Vesting Date; and provided, further, that if, after the
Disability Effective Date, it is or becomes impossible on any date to continue to calculate any future in-lieu cash payments based on such continuation of vesting, the Executive shall thereupon be entitled immediately to the additional vesting which
would normally have occurred during such 2 years and 364 days period following the Disability Effective Date with respect to the affected type of in-lieu cash payments described above and shall be entitled immediately to receive payment of the
amount specified for such type of in-lieu cash payments based on such additional vesting as of such date; and 
  
 (iii) until the Disability Termination of Benefits Date, if the Executive is a participant in such plans on the Executive’s Disability Effective
Date, a continuation of crediting of additional years of cumulative service (for all purposes, including for purposes of accrual and vesting of benefits and equity-based incentives) under any Executive Retirement Plan, Deferred Compensation Plan
and/or Senior Supplemental Executive Retirement Plan (collectively, the “SERP”) in accordance with the terms of the SERP and upon the assumption that no termination of employment had occurred; provided, however, that if the
Disability Termination of Benefits Date occurs due to the Executive’s death during the 2 years and 364 days immediately after the Disability Effective Date or if a Change in Control occurs prior to the Disability Termination of Benefits Date,
such continuation shall include any further accrual and vesting which would occur upon the Executive’s death or a Change in Control during employment with the Employer; and 
  
 (b) Offset. The obligations of the Employer to make payments under this Agreement to the Executive, pursuant to this
Section 5, following Executive’s Disability shall be reduced prospectively to the extent that the Executive receives payment of amounts under any salary continuation or similar feature contained in any disability insurance policy covering the
Executive or under any salary continuation or similar feature under Social Security or any similar federal, state or local program. In addition, any medical, dental and other insurance and welfare type Additional Benefits to be provided by the
Employer pursuant to clause (i) of Section 5(a) shall be secondary to any similar benefits provided by Social Security, Medicare, any private insurance maintained by or covering the Executive or any other similar plan or program covering the
Executive. The Executive shall provide to the Employer upon written request from time to time a certification as to the types and amounts of the benefits referred to in the first two sentences of this Section 5(b) received by the Executive or to
which Executive is entitled. 
  
  

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 (c) Substitution of Benefits. If the Executive’s full-time services are terminated due to
Executive’s Disability and the Executive is entitled under the terms of this Agreement to, but is no longer eligible under the relevant plan for, Additional Benefits because of such termination, the Executive (or in the event of
Executive’s death prior to the date that is 2 years and 364 days after the Disability Effective Date, Executive’s designated Beneficiaries (as defined in Section 7 below)) shall be entitled to, and the Employer shall provide, to the extent
required by in this Agreement, benefits substantially equivalent to such Additional Benefits to which the Executive was entitled immediately prior to Executive’s Disability and shall do so for the period during which Executive remains entitled
to receive such Additional Benefits as provided in this Section 5. With respect to the continuation of such benefits, the Executive or Executive’s Beneficiaries (as such term is defined in Section 7) shall also be paid by the Employer an amount
which, after federal, state, local or other income or other taxes on such amount, shall reimburse the Executive (or Executive’s Beneficiaries) for any additional tax liabilities incurred by the Executive (or any such Beneficiary) by reason of
the receipt of such benefits after the termination of, rather than during the term of, Executive’s employment under this Agreement. 
  
 (d) Partial Disability. In the event of a partial Disability of the Executive, it is understood that the Executive will provide such part-time
services as may be consistent with the nature and extent of such Disability and Executive’s position, duties, responsibilities and status specified in Section 3(a) of this Agreement, the Employer shall not be entitled to terminate the
Executive’s employment under this Agreement as a result of such partial Disability (provided that despite such partial disability, the Executive is able to substantially perform most of Executive’s duties), and the terms and conditions of
this Agreement shall remain in full force and effect after such partial Disability. 
  
 (e) Definition of Disability. As used in this Agreement, the term “Disability” means the failure of the Executive to render for six consecutive calendar months, or for shorter periods aggregating one
hundred eighty or more business days in any twelve month period, the services contemplated by this Agreement which a physician selected by the Employer or its insurers (and reasonably acceptable to the Executive or the Executive’s legal
representative) determines is due to mental or physical illness or injury. 
  
 (f) Return from Disability. If and to the extent the Executive recovers from any such Disability, Executive will resume Executive’s duties and responsibilities hereunder partially or fully to the extent of
Executive’s recovery, and the term of the Executive’s employment under this Agreement shall be reinstated as if the Executive’s employment had not been terminated pursuant to Section 5(a) of this Agreement. 
  
  

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 6. DEATH OF THE EXECUTIVE. 
  
 (a) Vesting of Options. If the Executive dies while an employee of the Employer or while receiving any payments on
account of a Disability as set forth in Section 5 above and during the term of this Agreement, all stock options standing in the name of the Executive shall immediately fully vest and must be exercised within 90 days of the date of the
Executive’s death by the appropriate beneficiary. 
  
 (b)
Continuation of Base Salary and Benefits. If the Executive dies while an employee of the Employer and during the term of this Agreement, the Employer shall continue to pay the Base Salary and to pay or provide medical, dental and other
insurance and welfare type benefits, on the basis described in Section 5(a)(i), to the Executive’s family members who were covered for such benefits immediately prior to the Executive’s death, for a period of 2 years and 364 days following
Executive’s death. 
  
 7. PAYMENTS AND BENEFITS UPON
TERMINATION OF EMPLOYMENT FOR ANY REASON. 
  
 On the Date of
Termination of the Executive’s employment under this Agreement for any reason whatsoever, the Executive’s Base Salary will cease thereafter to accrue except as specifically provided in Sections 5, 6 or 9 and the Executive (or in the event
of Executive’s death, Executive’s designated beneficiaries, Executive’s personal representative, or the executor or administrator of Executive’s estate (Executive’s “Beneficiaries”)) will be entitled to such rights
and benefits under the Employer’s compensation and benefit plans, policies and arrangements in which the Executive is then a participant as may be provided for under such plans, policies and arrangements (which shall not be modified adversely
to the Executive or Executive’s Beneficiaries after Executive’s Date of Termination). In addition, the Employer shall: 
  
 (a) pay and deliver to the Executive (or, in the event of Executive’s death, to Executive’s Beneficiaries) not later than thirty days after
Executive’s Date of Termination or such later date as the Executive or such Beneficiaries may request in writing, all amounts of money and all stock or other property owed to Executive by the Employer as of the Date of Termination, including
but not limited to Executive’s accrued Base Salary, any amounts payable in lieu of accrued vacation, amounts payable to Executive under any expense reimbursement plans or policies for expenses incurred through the Date of Termination, the
amount of any bonus due under any incentive plan to the Executive for any bonus period or performance measurement cycle of the Employer that ended prior to the Date of 
  

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 Termination which remained unpaid on the Date of Termination and any compensation previously deferred by the Executive
and any accrued interest on earnings on such deferred compensation to the extent not previously paid to the Executive; 
  
 (b) cause the trustee of any trusteed plan of the Employer to pay and deliver, and the Employer shall pay and deliver under any similar non-trusteed plan
of the Employer, to the Executive (or, in the event of Executive’s death, to Executive’s Beneficiaries), at the earliest practicable date after payments become due under such plan, all money, stock and other property which such plans
require to be paid or delivered or are otherwise payable or deliverable to Executive after the termination of Executive’s employment; 
  
 (c) continue to insure the Executive (or, in the event of Executive’s death, Executive’s Beneficiaries) with respect to Executive’s
activities as a director, officer or Executive of the Employer or any of its subsidiaries, for a period of three years after such Date of Termination, under such policies of director and officer liability insurance as Employer shall provide for its
senior officers generally; provided, however, that if a Change in Control shall have occurred prior to such Date of Termination or shall thereafter occur, such policies of insurance shall be no less favorable to the Executive than such
policies as may have been in effect for the Executive at any time during the one hundred twenty day period immediately preceding the Change in Control Date; and 
  

(d) continue to honor such rights to indemnification as the Executive (or, in the event of Executive’s death, Executive’s Beneficiaries) may
be entitled pursuant to any plan of indemnification or indemnification agreement in effect at the Date of Termination. 
  
 (e) The Executive immediately waives any right or entitlement to the payments and benefits described in Section 7(a) – (d) above in the event that
the Executive breaches any term or provision of this Agreement or the Confidentiality Agreement and Restrictive Covenant and in the event of such breach the Executive will pay to the Employer any damages the Employer may be able to recover, in
addition to any other relief to which Employer may be entitled. 
  
 8. TERMINATION OF EMPLOYMENT BY EMPLOYER FOR CAUSE. 
  
 (a) Definition of Cause. The Employer may terminate the Executive’s employment under this Agreement if the termination is for Cause. For purposes of this Agreement, the Employer shall have “Cause” to terminate the
Executive’s employment under this Agreement if, and only if, any of the following shall occur: 
  
 (i) the Executive’s conviction by a court of competent jurisdiction or entry of a guilty plea or a plea of nolo contendere for an act on the
Executive’s part constituting any felony; or 
  

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 (ii) a willful breach by the Executive of any provisions of this Agreement if such breach results in
demonstrably material injury to the Employer. 
  
 (iii) the
Executive’s willful dishonesty or fraud with respect to business or affairs of the Employer if such dishonesty or fraud results in demonstrable material injury to Employer. 
  
 (b) Procedural Requirements. The Executive’s employment under this Agreement shall not be subject to termination
for Cause without: (i) reasonable notice to the Executive setting forth the reasons for Employer’s intention to terminate and specifying the particulars thereof in detail, and (ii) an opportunity for the Executive to cure any such breach, if
possible, within thirty days after receipt of such notice. 
  
 9.
TERMINATION OF EMPLOYMENT BY THE EXECUTIVE FOR GOOD REASON OR BY EMPLOYER WITHOUT CAUSE. 
  
 (a) Definition of Good Reason. The Executive may terminate Executive’s employment under this Agreement and all of Executive’s obligations
under this Agreement to the Employer accruing after the date of such termination (other than Executive’s obligations under Section 11, 12, 13, 18, and 26) if the termination is for “Good Reason,” which for purposes of this Agreement
is defined as: 
  
 (i) failure by the Employer to perform any of
its obligations hereunder (including, but not limited to, Employer’s obligations under Sections 3 and 4) other than an isolated, insubstantial and inadvertent failure not occurring in bad faith; or 
  
 (ii) the diminution of the Executive’s salary and or a material
diminution of the Executive’s benefits, except in connection with the termination of the Executive’s employment for permanent disability, Cause, as a result of the Executive’s death or termination by the Executive other than for Good
Reason; 
  
 (iii) any failure by the Employer to obtain the
assumption of this Agreement by any successor or assignee of the Employer; 
  
 (iv) any attempt by the Employer to terminate the Executive for Cause which does not result in a valid termination for Cause. 
  

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 Any termination by Employee for Good Reason will be effective only upon Employer’s failure to cure following thirty
days’ prior written notice of the Good Reason from the Executive to the Employer. 
  
 (b) Employer’s Termination Without Cause. The Employer may terminate the Executive’s employment under this Agreement without Cause (as defined above) by written notice to the Executive. Any such
termination shall become effective upon fifteen days, prior written notice from the Employer to the Executive. 
  
 (c) Compensation and Benefits Upon Section 9 Termination. In addition to the payments specified in Section 7 of this Agreement, in the event of
termination of the Executive’s employment pursuant to this Section 9, the Employer shall continue to pay or provide to the Executive the following: 
  
 (i) Salary through Date of Termination at the rate in effect immediately prior to the time a Notice of Termination is given plus any benefits and awards
(including both cash and stock components) which pursuant to the terms of any Plans have been earned and otherwise payable, but which have not been paid; 
  
 (ii) As severance pay, and in lieu of any further salary for any period subsequent to the Date of Termination, an amount in cash equal to two times the
sum of the annual Base Salary on the Date of Termination plus the average of the Executive’s last three years’ bonuses (the “Severance Payment”). For the purposes of the definition of “Severance Payment” the Company
shall compute the average of the Executive’s last three years’ bonuses by including the greater of (A) the bonus, if any, already earned by the Executive at the time of termination related to the calendar year of the termination or (B) the
bonus, if any, earned in the third full calendar year preceding the termination of the Executive (e.g., if the Executive is terminated on August 1, 2005 (and this Section 9 is applicable), the Company shall include in the bonus calculation the
greater of (A) the bonus, if any, earned by the Executive through August 1, 2005, or (B) the bonus, if any, earned by the Executive in calendar year 2002). Additionally, also for the purpose of the definition of “Severance Payment,” in the
event the Executive received a grant of stock, restricted stock or stock options during any relevant year (a “Grant”), then the Company shall compute the average of the Executive’s last three years’ bonuses by including: (i) in
the case of a Grant consisting of a stock grant, the amount reported by the Company to the Internal Revenue Service relating to such stock grant for the relevant year; (ii) in the case of a Grant consisting of a restricted stock grant, the full
grant price, computed for the purposes of this agreement by multiplying the number of granted restricted shares by the closing share price on the grant date, and; (iii) in the case of a Grant consisting of a stock option grant, the imputed present
value of such options at the time of the grant, defined for purposes of this agreement as 50% of the exercise price. For example, if the Executive is 
  

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terminated on October 1, 2003 (and this Section 9 is applicable) and the Executive received a cash bonus of $300,000 in 2002, a bonus consisting of stock
with a value reported to the Internal Revenue Service of $400,000 in 2001, and a bonus consisting of options with an Option Value of $425,000 in 2000, then the average bonus for calculating the Severance Payment will be $375,000. 
  
 (iii) The Executive will have 90 days subsequent to the Date of Termination
to exercise all stock options and restricted stock awards that have been granted and were vested at Date of Termination; and 
  
 (iv) All salary and benefits shall cease at the time of such termination, subject to the terms of any benefit or compensation plan then in force and
applicable to the Executive. The Executive immediately waives any right or entitlement to the Severance Payment in the event that the Executive breaches any term or provision of this Agreement or the Confidential Information Agreement and
Restrictive Covenant and in the event of such breach the Executive will pay to the Employer an amount equal to any portion of the Severance Payment paid to the Executive prior the Executive’s breach, in addition to any damages the Employer may
be able to recover. The Employer shall not have any additional liability or obligation hereunder by reason of such termination. 
  
 (d) This Section 9 shall not apply to any termination of this Agreement with notice under Section 2(a)(i). 
  
 10. CHANGE IN CONTROL. 
  
 (a) Effectiveness of Section. If at any time during the term of the
Executive’s employment by the Employer pursuant to this Agreement, a Change in Control of the Employer (as defined below) shall occur, the provisions of this Section 10 shall become effective without any limitation on any other rights the
Executive may have under this Agreement. Sections (c) and (d) of this Section 10 shall become ineffective with respect to such Change in Control on the first anniversary of the date on which such Change in Control occurs (the “Change in Control
Date”) unless the Executive’s employment has theretofore been terminated for any reason; provided, however, that if another Change in Control occurs after such first anniversary, Sections 10(c) and (d) shall become effective
once again with respect to such subsequent Change in Control. If the Executive’s employment so terminates prior to such first anniversary, the provisions of Sections 10(c) and (d) shall survive so long as the Executive or Executive’s
Beneficiaries are entitled to any benefits under this Agreement. 
  

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 (b) Definition of Change in Control. For the purpose of this Agreement, a “Change in
Control” shall mean: 
  
 (i) the acquisition by any
individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3
promulgated under the Exchange Act) of twenty-five percent (25%) or more of either (A) the then outstanding shares of common stock of the Employer (the “Outstanding Employer Common Stock”) or (B) the combined voting power of the then
outstanding voting securities of the Employer entitled to vote generally in the election of directors (the “Outstanding Employer Voting Securities”); provided, however, that for purposes of this clause (i), the following
acquisitions shall not constitute a Change in Control: (u) any acquisition directly from the Employer, (w) any acquisition by the Employer, (x) any acquisition by any executive benefit plan (or related trust) sponsored or maintained by the Employer
or any corporation controlled by the Employer, (y) any acquisition by any corporation pursuant to a transaction which complies with clauses (A), (B) and (C) of clause (iii) of this Section 10(b), or (z) any acquisition by David L. Dunkel or his
family members; or 
  
 (ii) individuals who, as of the date of
this Agreement, constitute the Board of Directors of the Employer (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board of Directors of the Employer (the “Board”); provided,
however, that any individual becoming a director subsequent to the date of this Agreement whose election, or nomination for election by the Employer’s shareholders, was approved by a vote of at least a majority of the directors then
comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened
election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 
  
 (iii) consummation of a reorganization, merger or consolidation or sale or
other disposition of all or substantially all of the assets of the Employer (a “Business Combination”), in each case, unless, following such Business Combination, (A) all or substantially all of the Persons who were the beneficial owners,
respectively, of the Outstanding Employer Common Stock and Outstanding Employer Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of
common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without
limitation, a corporation which as a result of such transaction owns the Employer or all or substantially all of the Employer’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their
ownership, immediately prior to such Business Combination of the Outstanding Employer Common Stock and Outstanding Employer Voting 
  

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Securities, as the case may be, (B) no Person (excluding any corporation resulting from such Business Combination or any executive benefit plan (or related
trust) of the Employer or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, twenty-five percent or more of, respectively, the then outstanding shares of common stock of the corporation resulting
from such Business Combination or the combined voting power of the then outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Business Combination and (C) at least a majority of the members
of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination;
or 
  
 (iv) approval by the shareholders of the Employer of a
complete liquidation or dissolution of the Employer. 
  
 (c)
Certain Restrictions and Events Following Change in Control. If a Change in Control of the Employer occurs, then the following provisions shall apply: 
  

(i) the Employer shall not be entitled to reduce, terminate or adversely (from the Executive’s point of view) affect, pursuant to Section 4(b),
any Additional Benefits which are described in Section 4(b) to which the Executive shall thereafter be entitled even in connection with a reduction in such benefits applicable to all of the Employer’s officers who are of a similar class and
station as those of the Executive. If the continuation of any benefit provided to the Executive violates any law or statute the Employer shall pay to the Executive the cash equivalent of any benefit lost by the Executive; 
  
 (ii) the Employer shall not be entitled to reduce, terminate, or adversely
(from the Executive’s point of view) affect the Executive’s individual perquisites, as described in Section 4(c) and must maintain these benefits as currently enjoyed by the Executive immediately prior to any Change in Control; and

  
 (iii) all stock options, restricted stock awards,
equity-based incentive plans, SERP and similar grants theretofore or thereafter made which are unvested shall immediately fully vest effective as of the Change in Control Date. 
  

 14 

 (d) Provisions Applicable to Termination of Employment. If a Change in Control shall occur and the
Executive’s employment is thereafter terminated at any time prior to the first anniversary of the Change in Control Date by the Employer other than for Cause or by the Executive for Good Reason, then the Executive shall be entitled to receive
the following: 
  
 (i) the Executive shall be entitled to all
payments and benefits provided in Section 7; 
  
 (ii) the
payments required by the provisions of clause (i) of Section 9(c) shall be paid to the Executive in a lump sum in cash within ten days after the Date of Termination (or such later date as the Executive may elect); 
  
 (iii) the Executive shall receive as severance pay, and in lieu of any
further salary subsequent to the Date of Termination and any Severance Payment referenced in Section 9(c)(ii) above, an amount in cash equal to 2.99 times the annual Base Salary on the Date of Termination. In addition, all benefits enjoyed by the
Executive on the Date of Termination shall continue for a period of two years and 364 days after the Date of Termination. In addition, the Executive will receive the average of the last three years bonuses, which average shall be computed in the
manner described in Section 9(c)(ii) above. The severance sum shall be paid to the Executive within 30 days of the Date of Termination. If the continuation of any benefit provided to the Executive violates any law or statute the Employer shall pay
to the Executive the cash equivalent of any benefit lost by the Executive; and 
  
 (iv) the Employer shall, at its sole expense as incurred, provide the Executive with outplacement services the scope and provider of which shall be selected by the Executive in Executive’s sole reasonable
discretion. 
  
 11. EXCISE TAX. 
  
 In the event the amount payable to the Executive under Section 10(d) is
subject to an excise tax under Section 4999 of the Internal Revenue Code of 1986, as amended (the “Excise Tax”), or any similar tax, the Employer will pay the Executive an additional amount (the “Gross-up Payment’) sufficient to
put the Executive in the same after-tax position as if no Excise Tax had been incurred. For purposes of determining the Gross-up Payment, the Executive’s tax rate will be deemed to be the highest marginal tax rate in effect in the year of
payment, without regard to the phase-out of itemized deductions. The Gross-up Payment shall be payable within 30 days of the payment under Section 10(d), and the Employer shall provide the Executive with the calculations utilized to determine the
amount of the Gross-up payment. 
  
 12. PROPERTY.

  
 (a) All right, title and interest in and to Intellectual
Property (as defined below) shall be and remain the sole and exclusive property of the Employer. During the term of this Agreement, the Executive shall not remove from the Employer’s offices or premises any documents, records, notebooks, files,
correspondence, reports, memoranda or similar materials of or containing proprietary information, or other materials or property of any kind belonging to the 
  

 15 

 
Employer unless necessary or appropriate in accordance with the duties and responsibilities required by or appropriate for Executive’s position and, in
the event that such materials or property are removed, all of the foregoing shall be returned to their proper files or places of safekeeping as promptly as possible after the removal shall serve its specific purpose. The Executive shall not make,
retain, remove and/or distribute any copies of any of the foregoing for any reason whatsoever except as may be necessary in the discharge of Executive’s assigned duties and shall not divulge to any third person the nature of and/or contents of
any of the foregoing or of any other oral or written information to which Executive may have access or with which for any reason Executive may become familiar, except as disclosure shall be necessary in the performance of Executive’s duties.
Upon the termination of the Executive’s employment with the Employer, Executive shall leave with or return to the Employer all originals and copies of the foregoing then in Executive’s possession, whether prepared by the Executive or by
others. 
  
 (b) The Executive agrees that all right, title and
interest in and to any innovations, designs, systems, analyses, ideas for marketing programs, and all copyrights, patents, trademarks and trade names, or similar intangible personal property which have been or are developed or created in whole or in
part by the Executive: (i) at any time and at any place while the Executive is employed by the Employer and which, in the case of any or all of the foregoing, are related to and used in connection with the business of the Employer; (ii) as a result
of tasks assigned to the Executive by the Employer; or (iii) from the use of premises or personal property (whether tangible or intangible) owned, leased or contracted for by the Employer (collectively, the “Intellectual Property”), shall
be and remain forever the sole and exclusive property of the Employer. The Executive shall promptly disclose to the Employer all Intellectual Property, and the Executive shall have no claim for additional compensation for the Intellectual Property.

  
 (c) The Executive acknowledges that all the Intellectual
Property that is copyrightable shall be considered a work made for hire under United States Copyright Law. To the extent that any copyrightable Intellectual Property may not be considered a work made for hire under the applicable provisions of the
United States Copyright Law, or to the extent that, notwithstanding the foregoing provisions, the Executive may retain an interest in any Intellectual Property that is not copyrightable, the Executive hereby irrevocably assigns and transfers to the
Employer any and all right, title, or interest that the Executive may have in the Intellectual Property under copyright, patent, trade secret and trademark law, in perpetuity or for the longest period otherwise permitted by law, without the
necessity of further consideration. The Employer shall be entitled to obtain and hold in its own name all copyrights, patents, trade secrets, and trademarks with respect thereto. 
  
 (d) The Executive further agrees to reveal promptly all information relating to the Intellectual Property to appropriate
officers of the Employer and to 
  

 16 

 
cooperate with the Employer and execute such documents as may be necessary or appropriate (i) in the event that the Employer desires to seek copyright,
patent or trademark protection, or other analogous protection relating to the Intellectual Property, and when such protection is obtained, to renew and restore the same, or (ii) to defend any opposition proceedings in respect of obtaining and
maintaining such copyright, patent or trademark protection, or other analogous protection. 
  
 (e) In the event the Employer is unable after reasonable effort to secure the Executive’s signature on any of the documents referenced in Section 12(d) above, whether because of the Executive’s physical or
mental incapacity or for any other reason whatsoever, the Executive hereby irrevocably designates and appoints the Employer and its duly authorized officers and agents as the Executive’s agent and attorney-in-fact, to act for and in
Executive’s behalf and stead to execute and file any such documents and to do all other lawfully permitted acts to further the prosecution and issuance of any such copyright, patent or trademark protection, or other analogous protection, with
the same legal force and effect as if executed by the Executive. 
  
 13. CONFIDENTIAL INFORMATION AGREEMENT AND RESTRICTIVE COVENANT 
  
 Acceptance of this Agreement requires the Executive’s separate signature and acceptance of the Confidential Information Agreement and Restrictive Covenant attached to this Agreement as Exhibit A. 
  
 14. ASSUMPTION BY SUCCESSOR. 
  
 The Employer will require any successor (whether direct or indirect by
purchase, merger, consolation or otherwise) to all or substantially all of the business and/or assets of the Employer to (i) expressly assume and agree to perform this Agreement in the same manner and the same extent the Employer would be required
to perform it as if no such succession had taken place; and (ii) notify the Executive of the assumption of this Agreement within ten days of such assumption. Failure of the Employer to obtain such assumption and agreement prior to the effectiveness
of any such succession shall be a breach of this agreement. As used in this Agreement, “Employer” shall mean Kforce Inc. and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by
operation of law or otherwise. However, this agreement shall inure to the benefit of and be enforceable by the Executive’s personal or legal representatives, executors, administrators, successors, heirs, and distributees, devisees and legatees.

  

 17 

 15. NO SET-OFF. 
  
 Except as contemplated by Section 5(b), the Employer’s obligation to make the payments provided for in this Agreement
and otherwise to perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right, or action which the Employer may have against the Executive or others. In no event shall the Executive
be obligated to seek other employment or take any other action by way of mitigation of the amounts payable, or benefits to be provided, to the Executive under any of the provisions of this Agreement, and, except as expressly provided in Sections
5(c), such amounts shall not be reduced whether or not the Executive obtains other employment. 
  
 16. INDEMNIFICATION. 
  
 The Employer and the Executive acknowledge that the Executive’s service as an officer of the Employer exposes the Executive to risks of personal liability arising from, and pertaining to, the Executive’s participation in the
management of the Employer. The Employer shall defend, indemnify and hold harmless the Executive from any actual cost, loss, damages, attorneys fees, or liability suffered or incurred by the Executive arising out of, or connected to, the
Executive’s service as an officer of the Employer. The Employer shall not be obligated to indemnify the Executive if the cost, loss, damage, or liability results from the Executive’s violation of the Securities Exchange Act of 1934, as
amended, the Executive’s violation of criminal law, a transaction from which the Executive received an improper personal benefit, the Executive’s violation of Section 607.0834 of the Florida Business Corporation Act (or any successor law),
or the Executive’s willful misconduct or a conscious disregard for the best interests of the Employer. The Employer will not have any obligation to the Executive under this section for any loss suffered if the Executive voluntarily pays,
settles, compromises, confesses judgment for, or admits liability with respect to any matter without the approval of the Employer. Within thirty days after the Executive receives notice of any claim or action which may give rise to the application
of this section, the Executive shall notify the Employer in writing of the claim or action. The Executive’s failure to timely notify the Employer of the claim or action will relieve the Employer from any obligation to the Executive under this
section. 
  
 17. PRIOR EMPLOYMENT AGREEMENTS. 

 
 The Executive represents that he/she has not executed any agreement with
any previous employer which may impose restrictions on Executive’s employment with the Employer. 
  

 18 

 18. TRANSFERABILITY, SUCCESSORS AND ASSIGNS. 
  
 The rights and obligations of the Employer under this Agreement shall be
transferable and all covenants and agreements hereunder shall inure to the benefit of and be enforceable by or against its successors and assigns. No rights or obligations of the Executive hereunder shall be transferable or assignable by the
Executive to any third party. 
  
 19. ATTORNEY’S FEES.

  
 The prevailing party in any action brought to enforce the
provisions of this Agreement shall be entitled, in addition to such other relief that may be granted, to a reasonable sum for attorney’s fees and costs incurred by such party in enforcing this Agreement (including fees incurred on any appeal).

  
 20. NO ORAL MODIFICATIONS. 
  
 No modifications or waivers of any provision hereof will be binding or valid
unless in writing and executed by both parties. 
  
 21.
WAIVER. 
  
 Either party’s failure to enforce any
provision or provisions of this Agreement shall not in any way be construed as a waiver of any such provision or provisions, or prevent that party thereafter from enforcing each and every other provision of this Agreement. The rights granted the
parties in this Agreement are cumulative and shall not constitute a waiver of either party’s right to assert all other legal remedies available to it under the circumstances. 
  
 22. SEVERABILITY. 
  
 The invalidity or unenforceability of any particular provision of this Agreement shall not affect the other provisions hereof, and this Agreement shall be
construed in all respects as if such invalid or unenforceable provision were omitted. 
  
 23. GOVERNING LAW AND BINDING EFFECT. 
  
 This Agreement was entered into in the State of Florida and shall be interpreted and construed in accordance with the laws of Florida. 
  
 24. CAPTIONS. 
  
 Captions and section headings used herein are for convenience only, are not of this Agreement, and shall not be used in construing this Agreement.

  

 19 

 25. COUNTERPARTS 
  
 This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which
taken together shall constitute one and the same instrument. 
  
 26. NOTICE. 
  
 Any notice required or permitted
to be given under this Agreement shall be sufficient if it is in writing and sent by hand delivery or by United States Express Mail service to the parties at the following addresses: 
  

			
	 To the Employer:
	 	 1001 E. Palm Ave

	 	 	 Tampa, Florida 33605

	 	 	 Attn: David L. Dunkel

	 	 	 Chief Executive Officer

		
	 To the Executive:
	 	 Current address in Employer’s

	 	 	 Human Resource Records

  
 27.
ARBITRATION. 
  
 Any dispute or controversy arising under
or in connection with this Agreement shall be settled exclusively by arbitration in Tampa, Florida in accordance with the rules of the American Arbitration Association then in effect. Judgment may be entered in the arbitrator’s award in any
court having jurisdiction. Such arbitration shall occur only after the parties have attempted to resolve the dispute or controversy by mediation under mutually agreeable terms. 
  
 28. ENTIRE AGREEMENT. 
  
 This Agreement, and the attached Exhibit A, comprise the entire agreement between the Executive and the Employer. This Agreement supersedes all prior
agreements and understandings between the parties with respect to the subject matter hereof and may not be modified or terminated orally. No modification, termination, or attempted waiver shall be valid unless it is in writing and is executed by
each of the parties. 
  

 20 

 IN WITNESS WHEREOF, the parties have executed this Employment Agreement as of October 1, 2003.

  

			
	 KFORCE, INC.

		
	 By:
	 	 /S/    DAVID L. DUNKEL

	 	 	 David L. Dunkel

	 	 	 Chief Executive Officer

	
	 /S/    DERRELL E. HUNTER

	 Derrell E. Hunter

  
  

 21 

 EXHIBIT A 
  

CONFIDENTIALITY AGREEMENT AND RESTRICTIVE COVENANT 
  
 THIS AGREEMENT (“Agreement”) dated as of October 1, 2003, is entered into by and between Kforce Inc., a Florida corporation (the
“Employer”) and Derrell E. Hunter (the “Executive”). 
  
 BACKGROUND 
  
 The Employer desires to employ or
continue employing the Executive and the Executive wishes to accept or continue employment upon the terms and conditions set forth in the parties’ Employment Agreement (the “Employment Agreement”) and this Agreement. The Executive
recognizes and agrees that because of Executive’s employment with the Employer he/she has been and will be afforded an opportunity to learn confidential and proprietary information and to know of and/or become known to various customers,
potential customers and employees of the Employer and to learn the Employer’s business practices. The Executive recognizes that this is a valuable right, is of great personal benefit to Executive in Executive’s career and therefore
provides sufficient basis for the restrictive covenants contained in this Agreement. Also, as set forth in the Employment Agreement, the Employer agrees to pay the Executive significant severance pay under certain circumstances in consideration for
the Executive’s agreement not to compete with the Employer. Accordingly, in consideration of the mutual covenants and agreements set forth below, the parties agree as follows: 
  
 TERMS 
  
 1. Acknowledgement of Legitimate Business Interest of the Employer. The Executive acknowledges that as a result of Executive’s employment with
the Employer he/she has accepted and received trade secrets, valuable confidential business and professional information, substantial relationships with specific prospective or existing clients, contractors, or customers, and goodwill associated
with the ongoing business of the Employer, all of which are of particular significance to the Employer and constitute legitimate business interests that the Employer has an interest in protecting. Therefore, the Executive agrees as follows:

  
 (a) Confidential Information. Except for proper
business purposes on Employer’s behalf, at all times for the period of time commencing as of the date of this Agreement and ending on the second anniversary of the date of termination of the Executive’s employment under the Employment
Agreement (the “Restriction Period”) the Executive agrees not to disclose or use any confidential information, including without limitation, information regarding research, strategy, developments, product designs or specifications,
processes, “know-how,” prices, suppliers, customers, contractors, candidates, clients, costs or any other knowledge 

 
or information with respect to confidential information or trade secrets of the Employer. The Executive acknowledges and agrees that all notes, lists, data,
records, business forms, studies, marketing materials, training materials, reports, sketches, plans, unpublished memoranda and other documents (whether electronic or hardcopy) concerning any information relating to the Employer’s business, held
or created by the Executive, whether confidential or not, are the property of the Employer and will not be used or retained by Executive except on behalf of employer in the course of Executive’s employment, and will not be retained by Executive
upon termination of Executive’s employment. 
  
 (b)
Non-Solicitation. At all times during the Restriction Period, the Executive shall not, directly or indirectly, solicit, induce, influence, combine or conspire with, or attempt to induce, any executive, employee, vendor, client, contractor, or
supplier of the Employer to terminate their employment, or other relationship with, or compete against the Employer or any present or future affiliates of the Employer in the Employer’s industry (the “Business”). In particular, and
without in any way limiting the forgoing, the Executive agrees that during the Restriction Period, whether the termination shall be voluntary or involuntary, with or without cause, or for any other reason whatsoever, the Executive shall not,
directly or indirectly: (a) attempt to hire any other executive or employee of the Employer, including persons on assignment with clients, or otherwise encourage or attempt to encourage any other executive or employee of the Employer to leave
employment or terminate an assignment with the Employer; or (b) in any manner or at any time, solicit or encourage any person, firm, corporation, or any business entity who are customers, clients, contractors, or prospective clients or contractors
of the Employer to cease or refrain from doing business with the Employer. Executive further agrees, during the Restriction Period, to refrain from directly or indirectly soliciting business from any client of Employer with whom Executive had
contact during the term of Executive’s employment with Employer. In the event the Executive breaches any term contained in this Section, the Executive immediately waives any right or entitlement to the severance payments described in the
Employment Agreement (which includes both the Severance Payment referenced in Section 9(c)(ii) of the Employment Agreement as well as any other severance payable pursuant to Section 10(d)(iii) of the Employment Agreement) and will pay to the
Employer an amount equal to any portion of the severance payments paid to the Executive prior to the Executive’s breach, in addition to any damages the Employer may be able to recover. 
  
 (c) Exception. Notwithstanding anything to the contrary contained in
this Agreement, in the event: (i) the Executive resigns for “Good Reason” (as such term is defined in Section 9(a) of the Employment Agreement) or is terminated without “Cause” (as such term is defined in Section 8 of the
Employment Agreement), and (ii) the Executive delivers a written statement to the Company specifically releasing the Company from paying any Severance Payment as contemplated by Section 9(c)(ii) of the Employment Agreement (in a form reasonably
acceptable to the Company), then the provisions of Section 1(b) of this Agreement shall have no force or effect. 
  

 2 

 2. Severability and Specific Performance. 
  
 (a) If, in any judicial proceedings, a court shall refuse to enforce any of
the covenants included in Paragraph 1(a) and (b), above, then such unenforceable covenant shall be amended to relate to such lesser period or geographical area as shall be enforceable. In the event the Employer should bring any legal action or other
proceeding against the Executive for enforcement of this Agreement, the calculation of the Restriction Period, if any, shall not include the period of time commencing with the filing of legal action or other proceeding to enforce this Agreement
through the date of final judgment or final resolution including all appeals, if any, of such legal action or other proceeding unless the Employer is receiving the practical benefits of Paragraph 1(a) and/or (b), as applicable, during such time.

  
 (b) The Executive hereby acknowledges that the restrictions on
Executive’s activity as set forth in Paragraphs 1(a) and (b) hereof are required for the Employer’s reasonable protection and are a material inducement for the Employer to retain or continue to retain the services of Executive. The
Executive hereby agrees that in the event of the violation by Executive of any such provisions of this Agreement, the Employer will suffer irreparable harm and will be entitled to equitable relief, including an order requiring specific performance
of the terms hereof, in addition to any damages that may be recoverable. 
  
 3. Miscellaneous Provisions. 
  
 (a) Notice: All notices, requests, demands, claims, and other communications under this Agreement will be in writing. Any notice, request, demand, claim, or other communication under this Agreement shall be deemed duly given if
delivered personally, telecopied (if confirmed), or sent by registered or certified mail (return receipt requested) addressed to the intended recipient as set forth below (or at such other address for a party as shall be specified by like notice):

  
 If to Executive: 
  
 Current address in Employer’s 
 Human Resource Records 
  

 3 

 If to the Employer: 
  
 Kforce Inc. 
 1001 East Palm Avenue 
 Tampa, Florida 33605 
 Attn: David L. Dunkel 
 Chief Executive Officer 
  
 (b) Entire Agreement,
Amendments. Except for the Employment Agreement and other agreements and writings expressly provided for therein, this Agreement contains the entire agreement and understanding of the parties to this Agreement relating to the subject matter of
this Agreement, and supersedes any prior and contemporaneous understandings, agreements, or representations of every nature between the parties. This Agreement may not be changed or modified, except by an agreement in writing signed by each of the
parties to this Agreement. 
  
 (c) Waiver. The waiver of
the breach of any term or provision of this Agreement shall not operate as or be construed to be a waiver of any other or subsequent breach of this Agreement. 
  

(d) Governing Law. This Agreement shall be construed and enforced in accordance with the laws of Florida, without regard to the conflict-of-laws
provisions thereof. 
  
 (e) Invalidity. In case any one or
more of the provisions contained in this Agreement shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect the validity of any other provision of this
Agreement, and such provision(s) shall be deemed modified to the extent necessary to make it or them enforceable. 
  
 (f) Execution in Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original as
against any party whose signature appears thereon, and all of such shall together constitute one and the same instrument. This Agreement shall become binding when one or more counterparts hereof, individually or taken together, shall bear the
signatures of all of the parties reflected hereon as the signatories. 
  

 4 

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

  

			
	 Kforce Inc.

		
	 By:
	 	 /S/    DAVID L. DUNKEL

	 	 	 David L. Dunkel

	 	 	 Chief Executive Officer

	
	 /S/    DERRELL E. HUNTER

	 Derrell E. Hunter

  

 5EXECUTION COPY

                  FIFTH SUPPLEMENTAL INDENTURE, dated as of December 16, 2003
(this "Fifth Supplemental Indenture"), between WYETH, a Delaware corporation
(formerly known as American Home Products Corporation) (the "Issuer") and
JPMORGAN CHASE BANK (as successor to THE CHASE MANHATTAN BANK), a corporation
duly organized and existing under the laws of the State of New York, as trustee
(the "Trustee").

                               W I T N E S S E T H

                  WHEREAS, the Issuer and the Trustee have duly executed and
delivered an Indenture, dated as of April 10, 1992 (as amended on October 13,
1992, the "Indenture"), providing for the authentication, issuance, delivery and
administration of unsecured debentures, notes or other evidences of indebtedness
to be issued in one or more series by the Issuer (the "Securities");

                  WHEREAS, pursuant to the terms of the Indenture, the Issuer
desires to provide for the establishment of new series of Securities (the
"Notes") to be issued under the Indenture in an aggregate principal amount of up
to $3,000,000,000, which may be authenticated and delivered as provided in the
Indenture;

                  WHEREAS, the Issuer desires to amend the provisions of the
Indenture to issue the Notes under the terms of the Indenture as supplemented
hereby;

                  WHEREAS, Section 8.1 of the Indenture expressly permits the
Issuer and the Trustee to enter into one or more supplemental indentures for the
purposes, inter alia, of establishing the forms and terms of Securities to be
issued under the Indenture or making certain provisions in the Indenture which
the Issuer deems necessary or desirable, and permits the execution of such
supplemental indentures without the consent of the Holders of any Securities
then outstanding;

                  WHEREAS, for the purposes hereinabove recited, and pursuant to
due corporate action, the Issuer has duly determined to execute and deliver to
the Trustee this Fifth Supplemental Indenture; and

                  WHEREAS, all conditions and requirements necessary to make
this Fifth Supplemental Indenture a valid, legal and binding instrument in
accordance with its terms have been done and performed, and the execution and
delivery hereof have been in all respects duly authorized;

                  NOW, THEREFORE, in consideration of the premises, the Issuer
and the Trustee mutually covenant and agree as follows:

        SECTION 1.        DEFINITIONS.

     1.1 All terms contained in this Fifth Supplemental  Indenture shall, except
as specifically  provided herein or except as the context may otherwise require,
have the meanings given to such terms in the Indenture.

     1.2 Unless the context otherwise  requires,  the following terms shall have
the following meanings:

          "Depositary"   means  The  Depository   Trust  Company  or  any  other
     depositary from time to time specified pursuant to the Indenture.

          "Global  Note  Legend"  means the legend set forth in Exhibit A hereto
     which is required to be placed on all Global  Notes issued under this Fifth
     Supplemental Indenture.

          "Global Notes" mean Notes  constituting  Registered  Global Securities
     substantially  in the form of Exhibit A hereto and  bearing the Global Note
     Legend.

          "Registrar"  means the registrar  specified from time to time pursuant
     to Section 3.2 of the Indenture.

          "Securities Act" means the Securities Act of 1933, as amended.

        SECTION 2.        TERMS AND CONDITIONS OF THE SECURITIES.

                  There is hereby authorized the following series of Notes:

     2.1 5.500% Notes due 2014.

     (a)  A new  series  of senior  unsecured  notes is  hereby  authorized  and
          designated as the "5.500% Notes due 2014".

     (b)  The 5.500%  Notes due 2014 shall be  limited  in  aggregate  principal
          amount to  $1,750,000,000  and,  subject to adjustment as described in
          the form of Note attached  hereto as Exhibit A, shall bear interest at
          a rate of 5.500% per annum, shall mature on February 1, 2014 and shall
          be subject to optional  redemption at any time by the Issuer  pursuant
          to the terms set forth in the form of Note with respect thereto.

     2.2 6.450% Notes due 2024.

     (a)  A new  series  of senior  unsecured  notes is  hereby  authorized  and
          designated as the "6.450 % Notes due 2024".

     (b)  The 6.450%  Notes due 2024 shall be  limited  in  aggregate  principal
          amount to $500,000,000  and, subject to adjustment as described in the
          form of Note  attached  hereto as Exhibit A, shall bear  interest at a
          rate of 6.450% per annum,  shall  mature on February 1, 2024 and shall
          be subject to optional  redemption at any time by the Issuer  pursuant
          to the terms set forth in the form of Note with respect thereto.

     2.3 6.500% Notes due 2034.

     (a)  A new  series  of senior  unsecured  notes is  hereby  authorized  and
          designated as the "6.500 % Notes due 2034".

     (b)  The 6.500%  Notes due 2034 shall be  limited  in  aggregate  principal
          amount to $750,000,000  and, subject to adjustment as described in the
          form of Note  attached  hereto as Exhibit A, shall bear  interest at a
          rate of 6.500% per annum,  shall  mature on February 1, 2034 and shall
          be subject to optional  redemption at any time by the Issuer  pursuant
          to the terms set forth in the form of Note with respect thereto.

     2.4  Issuance of  Additional  Securities.  The Issuer shall be permitted to
amend this Fifth  Supplemental  Indenture  in order to  increase  the  aggregate
principal amount of Notes of any series that may be issued hereunder without the
consent of the Holders of Notes of any series so affected.

     2.5 Form of Global  Notes.  The Notes shall be issued in the form of Global
Notes  (including  the Global Note Legend thereon and the "Schedule of Exchanges
of  Interests  in the Global  Note"  attached  thereto).  Each Global Note shall
represent such of the outstanding  Notes as shall be specified  therein and each
shall  provide  that it  shall  represent  the  aggregate  principal  amount  of
outstanding  Notes from time to time  endorsed  thereon  and that the  aggregate
principal amount of outstanding Notes represented  thereby may from time to time
be reduced to reflect  any  redemptions.  Any  endorsement  of a Global  Note to
reflect  the  amount  of any  decrease  in the  aggregate  principal  amount  of
outstanding Notes represented thereby shall be made by the Trustee, as custodian
of the  Global  Notes,  in  accordance  with  instructions  given by the  Holder
thereof.

     SECTION 3. MISCELLANEOUS.

     3.1 Ratification of Indenture. The Indenture, as supplemented by this Fifth
Supplemental  Indenture,  is in all respects  ratified and  confirmed,  and this
Fifth  Supplemental  Indenture  shall be deemed a part of the  Indenture  in the
manner and to the extent herein and therein provided.

     3.2 GOVERNING  LAW. THIS FIFTH  SUPPLEMENTAL  INDENTURE,  EACH NOTE AND THE
RIGHTS AND  OBLIGATIONS OF THE PARTIES UNDER THIS FIFTH  SUPPLEMENTAL  INDENTURE
AND EACH NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND  INTERPRETED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK.

     3.3  Counterparts.  This Fifth  Supplemental  Indenture  may be executed in
several counterparts,  each of which shall be an original,  and all collectively
but one and the same instrument.

     3.4 The  Trustee.  The  Trustee  shall  not be  responsible  in any  manner
whatsoever  for or in  respect  of the  validity  or  sufficiency  of this Fifth
Supplemental  Indenture or for or in respect of the recitals  contained  herein,
all of which are made solely by the Issuer.

<PAGE>

     IN WITNESS WHEREOF,  the parties hereto have caused this Fifth Supplemental
Indenture to be executed as of the date first above written.

                        WYETH, as Issuer

                        By:
                           --------------------------------------------------
                           Name:
                           Title:

                         JPMORGAN CHASE BANK, as Trustee

                           By:
                              ------------------------------------------------

<PAGE>

                                                                     EXHIBIT A
                                 [FACE OF NOTE]

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES
EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED
PURSUANT TO SECTION 2.9 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED
IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.8 OF THE INDENTURE, (III) THIS
GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION
2.10 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A
SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER.

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE
FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A
NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR
ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A
SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (55 WATER STREET, NEW YORK, NEW YORK) ("DTC") TO THE ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC),
ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.

<PAGE>

No. __________                                                   $_____________

                                                             CUSIP:____________

                                      WYETH

                                o% Notes due 20__

ORIGINAL ISSUE DATE:                                    INTEREST PAYMENT DATES:

INTEREST RATE:                                                    RECORD DATES:
MATURITY DATE:

                  Wyeth, a Delaware corporation (together with its successors
and assigns, the "Issuer"), for value received, hereby promises to pay to
_______ or registered assignees, the principal sum of _______ on the Maturity
Date specified above and to pay interest thereon at the Interest Rate per annum
specified above, semiannually in arrears on each Interest Payment Date specified
above during each year commencing on the Interest Payment Date next succeeding
the Original Issue Date specified above, and at maturity (or on any redemption
or repayment date).

                  Interest on this Note will accrue from the most recent
Interest Payment Date to which interest has been paid or duly provided for, or,
if no interest has been paid or duly provided for, from the Original Issue Date,
until the principal hereof has been paid or duly made available for payment
(except as provided below). The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, subject to certain exceptions
described herein, be paid to the person in whose name this Note (or one or more
predecessor Notes) is registered at the close of business on the applicable
Record Date specified above relating to such Interest Payment Date (whether or
not a Business Day); provided, however, that interest payable at maturity (or on
any redemption or repayment date) will be payable to the person to whom the
principal hereof shall be payable. As used herein, "Business Day" means any day,
other than a Saturday or Sunday, that is neither a legal holiday nor a day on
which banking institutions are authorized or required by law or regulation to
close in The City of New York.

                  Payment of the principal of this Note, any premium and the
interest due at maturity (or on any redemption or repayment date) will be made
in immediately available funds upon surrender of this Note at the office or
agency of the Paying Agent, as defined on the reverse hereof, maintained for
that purpose in the Borough of Manhattan, The City of New York, or at such other
paying agency as the Issuer may determine. Payment of the principal of and
premium, if any, and interest on this Note will be made by U.S. dollar check
mailed to the address of the person entitled thereto as such address shall
appear in the Note register. A holder of U.S. $10,000,000 or more in aggregate
principal amount of Notes having the same Interest Payment Date will be entitled
to receive payments of interest, other than interest due at maturity or on any
date of redemption or repayment, by wire transfer of immediately available funds
if appropriate wire transfer instructions have been received by the Paying Agent
in writing not less than 15 calendar days prior to the applicable Interest
Payment Date.

                  Reference is hereby made to the further provisions of this
Note set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place.

                  Unless the certificate of authentication hereon has been
executed by the Trustee referred to on the reverse hereof by manual signature,
this Note shall not be entitled to any benefit under the Indenture, as defined
on the reverse hereof, or be valid or obligatory for any purpose.

<PAGE>

                  IN WITNESS WHEREOF, the Issuer has caused this Note to be duly
executed under its corporate seal.

DATED:
                                                     WYETH

                                                     By: _____________________
                                                     Name:
                                                     Title:

TRUSTEE'S CERTIFICATE
OF AUTHENTICATION

This is one of the Notes referred to in the within-mentioned Indenture.

                         JPMORGAN CHASE BANK, as Trustee

                            By: _____________________
                            Name:
                            Title:  Authorized Officer

<PAGE>

                                 [BACK OF NOTE]

                  This Note is one of a duly authorized issue of o% Notes due
20__ (the "Notes") of the Issuer. The Notes are issuable under an indenture,
dated as of April 10, 1992 (as amended by the Supplemental Indenture dated as of
October 13, 1992, and as supplemented by the Fifth Supplemental Indenture dated
as of December 16, 2003, the "Indenture"), each between the Issuer and JPMorgan
Chase Bank (successor to The Chase Manhattan Bank), as trustee (the "Trustee,"
which term includes any successor trustee under the Indenture), to which
Indenture and all indentures supplemental thereto reference is hereby made for a
statement of the respective rights, limitations of rights, duties and immunities
of the Issuer, the Trustee and holders of the Notes and the terms upon which the
Notes are, and are to be, authenticated and delivered. The Issuer has appointed
JPMorgan Chase Bank at its principal corporate trust office in The City of New
York as the paying agent (the "Paying Agent," which term includes any additional
or successor Paying Agent appointed by the Issuer) with respect to the Notes.
The terms of individual Notes may vary with respect to interest rates, interest
rate formulas, issue dates, maturity dates or otherwise, all as provided in the
Indenture. To the extent not inconsistent herewith, the terms of the Indenture
are hereby incorporated by reference herein.

                  At any time on or after December 11, 2003, to and including
March 15, 2006, the interest rate payable on this Note will be subject to
adjustment from time to time if either Moody's Investors Service, Inc.
("Moody's") or Standard & Poor's Ratings Services, a division of McGraw-Hill,
Inc. ("S&P") downgrades the rating ascribed to the Notes as set forth below.

         (a) If the rating from Moody's is decreased to a rating set out below,
the interest rate will increase from the rate set forth on the face of this Note
by the percentage per annum set opposite that rating:

         Rating                                                    Percentage
         ------                                                    ----------
         Baa2...............................................          .25%
         Baa3...............................................          .50%
         Bal................................................          .75%

         (b) If the rating from S&P is decreased to a rating set out below, the
interest rate will increase from the rate set forth on the face of this Note by
the percentage per annum set opposite that rating:

         Rating                                                     Percentage
         ------                                                     ----------
         BBB+...............................................          .25%
         BBB................................................          .50%
         BBB-...............................................          .75%
         BB+................................................         1.00%

         Each adjustment required by any decrease in rating above, whether
occasioned by the action of Moody's or S&P, shall be made independent of any and
all other adjustments. If Moody's or S&P subsequently increases its ratings of
the Notes to any of the thresholds set forth above, the interest rate on this
Note will be readjusted downwards to the rate set forth on the face of this Note
plus the applicable percentage set forth opposite such ratings threshold above,
provided that in no event shall (a) the interest rate payable with respect to
this Note be reduced to below the interest rate set forth on the face of this
Note, and (b) the total increase in the interest rate on this Note exceed 1.75%
per annum.

         Any interest rate increase or decrease, as described herein, will take
effect from the first day of the interest period during which a ratings change
requires an adjustment in the interest rate. The interest rate in effect on
March 15, 2006 for this Note will, thereafter, become the effective interest
rate on this Note until maturity.

                  This Note may be redeemed in whole or in part at the option of
the Issuer upon payment of the redemption price specified below. If the Issuer
exercises the option to redeem this Note, the redemption price will equal the
greater of (i) 100% of the principal amount of this Note or (ii) the sum, as
determined by the Quotation Agent (defined below), of the present value of the
principal amount of this Note and the remaining scheduled payments of interest
on this Note from the redemption date to the Maturity Date, exclusive of
interest accrued to the redemption date (the "Remaining Life"), discounted from
the scheduled payment dates to the redemption date on a semiannual basis
(assuming a 360-day year of twelve 30-day months) at the Treasury Rate (defined
below) plus [  ] basis points, plus accrued and unpaid interest on the
principal amount being redeemed to the date of redemption. Notice of redemption
shall be mailed to the registered holders of the Notes designated for redemption
at their addresses as the same shall appear on the Note register not less than
30 nor more than 60 days prior to the date fixed for redemption, subject to all
the conditions and provisions of the Indenture. In the event of redemption of
this Note in part only, a new Note or Notes for the amount of the unredeemed
portion hereof shall be issued in the name of the holder hereof upon the
cancellation hereof.

                  For purposes of the immediately preceding paragraph, the
following defined terms shall have the meanings specified:

               "Comparable  Treasury  Issue"  means the United  States  Treasury
          security  selected  by  the  Quotation  Agent  as  having  a  maturity
          comparable to the Remaining Life.

               "Comparable Treasury Price" means, with respect to any redemption
          date, the average of two Reference Treasury Dealer Quotations for such
          redemption date.

               "Quotation  Agent" means the Reference  Treasury Dealer appointed
          by the Issuer.

               "Reference  Treasury  Dealer"  means  each  of  Citigroup  Global
          Markets Inc. and J.P. Morgan  Securities  Inc., and their  successors;
          provided, however, that if any of the foregoing ceases to be a primary
          U.S.  Government  securities  dealer  in New  York  City  (a  "Primary
          Treasury Dealer"), the Issuer will substitute therefor another Primary
          Treasury Dealer.

               "Reference  Treasury Dealer  Quotations"  means,  with respect to
          each Reference  Treasury Dealer and any redemption  date, the average,
          as  determined  by the  Trustee,  of the bid and  asked  price for the
          Comparable  Treasury Issue  (expressed in each case as a percentage of
          its  principal  amount)  quoted  in  writing  to the  Trustee  by such
          Reference  Treasury  Dealer at 5:00 p.m.,  New York City time,  on the
          third Business Day preceding such redemption date.

               "Treasury Rate" means,  with respect to any redemption  date, the
          rate per  annum  equal to the  semiannual  yield  to  maturity  of the
          Comparable  Treasury  Issue,  calculated  on the  third  business  day
          preceding  such  redemption  date  using  a price  for the  Comparable
          Treasury  Issue  (expressed as a percentage  of its principal  amount)
          equal to the Comparable Treasury Price for such redemption date.

                  Interest payments on this Note will include interest accrued
to but excluding the Interest Payment Dates or the Maturity Date (or any earlier
redemption or repayment date), as the case may be. Interest payments for this
Note will be computed and paid on the basis of a 360-day year of twelve 30-day
months.

                  In the case where the Interest Payment Date or the Maturity
Date (or any redemption or repayment date) does not fall on a Business Day,
payment of interest, premium, if any, or principal otherwise payable on such
date need not be made on such date, but may be made on the next succeeding
Business Day with the same force and effect as if made on the Interest Payment
Date or on the Maturity Date (or any redemption or repayment date), and no
interest on such payment shall accrue for the period from and after the Interest
Payment Date or the Maturity Date (or any redemption or repayment date) to such
next succeeding Business Day.

                  This Note and all the obligations of the Issuer hereunder are
direct, unsecured obligations of the Issuer and rank without preference or
priority among themselves and pari passu with all other existing and future
unsecured and unsubordinated indebtedness of the Issuer, subject to certain
statutory exceptions in the event of liquidation upon insolvency.

                  This Note, and any Note or Notes issued upon registration of
transfer or exchange hereof, is issuable only in fully registered form, without
coupons, and is issuable only in denominations of U.S. $1,000 and any integral
multiple of U.S. $1,000 in excess thereof.

                  The Trustee has been appointed registrar for the Notes, and
the Trustee will maintain at its principal corporate trust office in The City of
New York a register for the registration and transfer of Notes. This Note may be
transferred at the aforesaid office of the Trustee by surrendering this Note for
cancellation, accompanied by a written instrument of transfer in form
satisfactory to the Trustee and duly executed by the registered holder hereof in
person or by the holder's attorney duly authorized in writing, and thereupon the
Trustee shall issue in the name of the transferee or transferees, in exchange
herefor, a new Note or Notes having identical terms and provisions and having a
like aggregate principal amount in authorized denominations, subject to the
terms and conditions set forth herein; provided, however, that the Trustee will
not be required (i) to register the transfer of or exchange any Note that has
been called for redemption in whole or in part, except the unredeemed portion of
Notes being redeemed in part, (ii) to register the transfer of or exchange any
Note if the holder thereof has exercised his right, if any, to require the
Issuer to repurchase such Note in whole or in part, except the portion of such
Note not required to be repurchased, or (iii) to register the transfer of or
exchange Notes to the extent and during the period so provided in the Indenture
with respect to the redemption of Notes. Notes are exchangeable at said office
for other Notes of other authorized denominations of equal aggregate principal
amount having identical terms and provisions. All such exchanges and transfers
of Notes will be free of charge, but the Issuer may require payment of a sum
sufficient to cover any tax or other governmental charge in connection
therewith. All Notes surrendered for exchange shall be accompanied by a written
instrument of transfer in form satisfactory to the Trustee and executed by the
registered holder in person or by the holder's attorney duly authorized in
writing. The date of registration of any Note delivered upon any exchange or
transfer of Notes shall be such that no gain or loss of interest results from
such exchange or transfer.

                  In case any Note shall at any time become mutilated, defaced
or be destroyed, lost or stolen and such Note or evidence of the loss, theft or
destruction thereof (together with the indemnity hereinafter referred to and
such other documents or proof as may be required in the premises) shall be
delivered to the Trustee, a new Note of like tenor will be issued by the Issuer
in exchange for the Note so mutilated or defaced, or in lieu of the Note so
destroyed or lost or stolen, but, in the case of any destroyed or lost or stolen
Note, only upon receipt of evidence satisfactory to the Trustee and the Issuer
that such Note was destroyed or lost or stolen and, if required, upon receipt
also of indemnity satisfactory to each of them. All expenses and reasonable
charges associated with procuring such indemnity and with the preparation,
authentication and delivery of a new Note shall be borne by the owner of the
Note mutilated, defaced, destroyed, lost or stolen.

                  The Indenture provides that, (a) if an Event of Default (as
defined in the Indenture) due to the default in payment of principal of, or
interest on, any series of debt securities issued under the Indenture, including
the series of Notes of which this Note forms a part, or due to the default in
the performance or breach of any other covenant or warranty of the Issuer
applicable to the debt securities of such series but not applicable to all
outstanding debt securities issued under the Indenture shall have occurred and
be continuing, either the Trustee or the holders of not less than 25% in
aggregate principal amount of all affected debt securities issued under the
Indenture then outstanding (treated as one class) may then declare the principal
of all debt securities of all such series and interest accrued thereon to be due
and payable immediately and (b) if an Event of Default due to a default in the
performance of any other of the covenants or agreements in the Indenture
applicable to all outstanding debt securities issued thereunder, including this
Note, or due to certain events of bankruptcy, insolvency and reorganization of
the Issuer, shall have occurred and be continuing, either the Trustee or the
holders of not less than 25% in aggregate principal amount of all debt
securities issued under the Indenture then outstanding (treated as one class)
may declare the principal of all such debt securities and interest accrued
thereon to be due and payable immediately, but upon certain conditions such
declarations may be annulled and past defaults may be waived (except a
continuing default in payment of principal of, or interest on, such debt
securities) by the holders of a majority in principal amount of the debt
securities of all affected series then outstanding.

                  The Indenture permits the Issuer and the Trustee, with the
consent of the holders of not less than a majority in aggregate principal amount
of the debt securities of all series issued under the Indenture then outstanding
and affected (voting as one class), to execute supplemental indentures adding
any provisions to or changing in any manner the rights of the holders of each
series so affected; provided that the Issuer and the Trustee may not, without
the consent of the holder of each outstanding debt security affected thereby,
(a) extend the final maturity of any such debt security, or reduce the principal
amount thereof, or reduce the rate or extend the time of payment of interest
thereon, or reduce any amount payable on redemption or repayment thereof, or
change the currency of payment thereof, or impair or affect the right of any
holder to institute suit for the payment thereof; or (b) reduce the aforesaid
percentage in principal amount of debt securities the consent of the holders of
which is required for any such supplemental indenture; or (c) modify any of the
foregoing provisions except to increase any such percentage or to provide that
other provisions cannot be modified or waived without the consent of each
affected holder.

                  So long as this Note shall be outstanding, the Issuer will
cause to be maintained an office or agency for the payment of the principal of
and premium, if any, and interest on this Note as herein provided in the Borough
of Manhattan, The City of New York, and an office or agency in said Borough of
Manhattan for the registration, transfer and exchange as aforesaid of the Notes.
The Issuer may designate other agencies for the payment of said principal,
premium and interest at such place or places (subject to applicable laws and
regulations) as the Issuer may decide. So long as there shall be such an agency,
the Issuer shall keep the Trustee advised of the names and locations of such
agencies, if any are so designated.

                  With respect to moneys paid by the Issuer and held by the
Trustee or any Paying Agent for payment of the principal of or interest or
premium, if any, on any Notes that remain unclaimed at the end of two years
after such principal, interest or premium shall have become due and payable
(whether at maturity or upon call for redemption or otherwise), (i) the Trustee
or such Paying Agent shall notify the holders of such Notes that such moneys
shall be repaid to the Issuer and any person claiming such moneys shall
thereafter look only to the Issuer for payment thereof and (ii) such moneys
shall be so repaid to the Issuer. Upon such repayment all liability of the
Trustee or such Paying Agent with respect to such moneys shall thereupon cease,
without, however, limiting in any way any obligation that the Issuer may have to
pay the principal of or interest or premium, if any, on this Note as the same
shall become due.

                  No provision of this Note or of the Indenture shall alter or
impair the obligation of the Issuer, which is absolute and unconditional, to pay
the principal of, premium, if any, and interest on this Note at the time, place
and rate, and in the coin and currency, herein prescribed unless otherwise
agreed between the Issuer and the registered holder of this Note.

                  Prior to due presentment of this Note for registration of
transfer, the Issuer, the Trustee and any agent of the Issuer or the Trustee may
treat the holder in whose name this Note is registered as the owner hereof for
all purposes, whether or not this Note be overdue, and none of the Issuer, the
Trustee or any such agent shall be affected by notice to the contrary.

                  No recourse under or upon any obligation, covenant or
agreement contained in the Indenture, or in this Note, or because of the
indebtedness evidenced hereby, shall be had against any incorporator, as such,
or against any past, present or future stockholder, officer or director, as
such, of the Issuer or of any successor, either directly or through the Issuer
or any successor, under any rule of law, statute or constitutional provision or
by the enforcement of any assessment or by any legal or equitable proceeding or
otherwise, all such liability being, by the acceptance hereof and as part of the
consideration for the issuance hereof, expressly waived and released.

                  This Note shall for all purposes be governed by, and construed
in accordance with, the laws of the State of New York.

                  All terms used in this Note which are defined in the Indenture
and not otherwise defined herein shall have the meanings assigned to them in the
Indenture.

<PAGE>

                                 Assignment Form

To assign this Note, fill in the form below: (I) or (we) assign and transfer
this Note to----------------------------------------------------------------

                                 (Insert assignee's soc. sec. or tax I.D. no.)

--------------------------------------------------------------------------

--------------------------------------------------------------------------

--------------------------------------------------------------------------

--------------------------------------------------------------------------
(Print or type assignee's name, address and zip code)

and irrevocably appoint

to transfer this Note on the books of the Issuer.  The agent may substitute
another to act for him.

--------------------------------------------------------------------------

Date:

                                            Your Signature:
                                            (Sign exactly as your name
                                            appears on the face of this Note)

                                            Tax Identification No:

                                            SIGNATURE GUARANTEE:

                                            ---------------------------------

                                            Signatures must be
                                            guaranteed by an "eligible
                                            guarantor institution"
                                            meeting the requirements of
                                            the Registrar, which
                                            requirements include
                                            membership or participation
                                            in the Security Transfer
                                            Agent Medallion Program
                                            ("STAMP") or such other
                                            "signature guarantee
                                            program" as may be
                                            determined by the Registrar
                                            in addition to, or in
                                            substitution for, STAMP,
                                            all in accordance with the
                                            Securities Exchange Act of
                                            1934, as amended.

<PAGE>

              SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

                  The following exchanges of a part of this Global Note for an
interest in another Global Note or for a Definitive Note, or exchanges of a part
of another Global Note or Definitive Note for an interest in this Global Note,
have been made:
<TABLE>
<CAPTION>

                  Amount of decrease                             Principal Amount of
                  in Principal         Amount of increase in     this Global Note
                  Amount of this       Principal Amount of       following such decrease   Signature of authorized
Date of Exchange  Global Note          this Global Note          (or increase)             officer of Trustee
<S>               <C>                  <C>                       <C>                       <C>

=================

--------------------------------------------------------------------------------------------------------------------

</TABLE>

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