Document:

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                                                                    EXHIBIT 10.3

                                LITTELFUSE, INC.

                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                  (AMENDED AND RESTATED AS OF JANUARY 1, 2008)

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                                LITTELFUSE, INC.
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                  (AMENDED AND RESTATED AS OF JANUARY 1, 2008)

                                TABLE OF CONTENTS

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<CAPTION>
                                                                            PAGE
                                                                            ----
<S>                                                                         <C>
Article I.   Establishment and Purpose...................................     1
   1.1       Establishment and Purpose...................................     1
   1.2       Application of Supplemental Plan............................     1

Article II.  Definitions and Construction................................     2
   2.1       Definitions.................................................     2
   2.2       Gender and Number...........................................     6
   2.3       Employment Rights...........................................     6
   2.4       Severability................................................     6
   2.5       Applicable Law..............................................     6

Article III. Supplemental Plan Benefits..................................     7
   3.1       Eligibility for Participation...............................     7
   3.2       Participation...............................................     7
   3.3       Target Benefit..............................................     7
   3.4       Allocation Formula..........................................     7
   3.5       Actuarial Assumptions.......................................     8
   3.6       Vesting.....................................................     9
   3.7       Payment of Benefits.........................................     9
   3.8       Forms of Distribution.......................................    11
   3.9       Beneficiary Designation.....................................    12

Article IV.  General Provisions..........................................    13
   4.1       Action by the Employer......................................    13
   4.2       Administration..............................................    13
   4.3       Expenses....................................................    13
   4.4       Indemnification and Exculpation.............................    13
   4.5       Funding.....................................................    13
   4.6       Change in Control...........................................    13
   4.7       Interests not Transferable..................................    14
   4.8       Cessation of Business.......................................    14
   4.9       Effect on Other Benefit Plans...............................    15
   4.10      Claims and Appeals Procedure................................    15
   4.11      Arbitration.................................................    16
   4.12      Notice......................................................    16
   4.13      Tax Liability...............................................    17
   4.14      Successors..................................................    17

Article V.   Amendment and Termination...................................    18
   5.1       Amendment...................................................    18
   5.2       Termination.................................................    18
</TABLE>

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                                LITTELFUSE, INC.

                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                  (AMENDED AND RESTATED AS OF JANUARY 1, 2008)

                      ARTICLE I. ESTABLISHMENT AND PURPOSE

     1.1 Establishment and Purpose. Effective as of October 1, 1993, Littelfuse,
Inc. (the "Employer") established the LITTELFUSE, INC. SUPPLEMENTAL EXECUTIVE
RETIREMENT PLAN (the "Supplemental Plan"), a non-qualified supplemental
executive retirement plan to provide certain executive employees of the Employer
with competitive retirement benefits. The Supplemental Plan is an unfunded
supplemental executive retirement plan within the meaning of Sections 201(2),
301(a)(3), 401(a)(1) and 4021(b)(6) of ERISA for a select group of highly
compensated employees or management employees. The Supplemental Plan is hereby
amended and restated, effective as of January 1, 2008, to incorporate all prior
amendments and to comply with the requirements of Section 409A of the Internal
Revenue Code (the "Code").

     1.2 Application of Supplemental Plan. The terms of this Supplemental Plan
are applicable only to eligible employees under Section 3.1 hereof who are in
the active employ of the Employer on or after October 1, 1993.

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                    ARTICLE II. DEFINITIONS AND CONSTRUCTION

     2.1 Definitions. The following terms shall have the meanings stated below
unless the context clearly indicates otherwise.

     (a)  "Account" means the bookkeeping account maintained by the Employer in
          the name of each Participant reflecting amounts credited to the
          Participant's Account each Plan Year pursuant to Section 3.4.

     (b)  "Beneficiary" means the person or persons designated by the
          Participant in writing to receive any benefits otherwise payable under
          this Plan on behalf of the Participant after the Participant's death.
          To be effective, such Beneficiary designation must be filed with the
          Employer prior to the Participant's death. The Beneficiary shall be
          the person or persons last so designated by the Participant, or, if
          there is no such designation filed with the Employer at the time of
          the Participant's death, the Participant's estate.

     (c)  "Board" means the Board of Directors of the Employer.

     (d)  "Change in Control" means the occurrence of any of the following
          events:

               (1) a business combination, including a merger or consolidation,
          of the Employer and the shareholders of the Employer prior to the
          combination do not continue to own, directly or indirectly, more than
          fifty-one percent (51%) of the equity of the combined entity;

               (2) a sale, transfer, or other disposition in one or more
          transactions (other than in transactions in the ordinary course of
          business or in the nature of a financing) of the assets or earning
          power aggregating more than forty-five percent (45%) of the assets or
          operating revenues of the Employer to any person or affiliated or
          associated group of persons (as defined by Rule 12b-2 of the
          Securities Exchange Act of 1934 (the "Exchange Act") in effect as of
          the date hereof);

               (3) the liquidation of the Employer;

               (4) one or more transactions which result in the acquisition by
          any person or associated group of persons (other than the Employer,
          any employee benefit plan whose beneficiaries are Employees of the
          Employer or TCW Special Credits or any of its affiliates) of the
          beneficial ownership (as defined in Rule 13d-3 of the Exchange Act, in
          effect as of the date hereof) of forty percent (40%) or more the
          common stock of the Employer, securities representing forty percent
          (40%) or more of the combined voting power of the voting securities of
          the Employer which affiliated persons owned less than forty percent
          (40%) prior to such transaction or transactions; or

               (5) the election or appointment, within a twelve (12) month
          period, of any person or affiliated or associated group, or its or
          their nominees, to the Board such that such persons or nominees, when
          elected or appointed, constitute a majority of

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          the Board and whose appointment or election was not approved by a
          majority of those persons who were members of the Board at the
          beginning of such period or whose election or appointment was made at
          the request of an Acquiring Person.

               An "Acquiring Person" is any person who, or which, together with
          all affiliates or associates of such person, is the beneficial owner
          of twenty percent (20%) or more of the common stock of the Employer
          then outstanding, except that an Acquiring Person does not include the
          Employer or any employee benefit plan of the Employer or any person
          holding common stock of the Employer for or pursuant to such plan. For
          the purpose of determining who is an Acquiring Person, the percentage
          of the outstanding shares of the common stock of which a person is a
          beneficial owner shall be calculated in accordance with Rule 13d-e of
          the Exchange Act.

     (e)  "Code" means the Internal Revenue Code of 1986, as now in effect or
          hereafter amended.

     (f)  "Committee" means the Compensation Committee of the Board.

     (g)  "Compensation" means (i) an Employee's base salary paid and any other
          cash incentive compensation paid during a Plan Year from the Employer
          except the annual bonus, (ii) bonuses attributable to a Plan Year
          regardless of whether paid during such Plan Year, and (iii) any salary
          reduction contributions made on behalf of, or compensation deferrals
          elected by, the Participant during a Plan Year to or under any plan
          maintained by the Employer under Code Sections 401(k) or 125 and under
          any nonqualified savings plan of the Employer which permits the
          Participant to accumulate amounts in excess of the limits of Section
          402(g) of the Code, but shall exclude any amount includible in income
          by reason of participation in this Supplemental Plan and the amount of
          any payment, or accrual, of deferred bonuses (i.e., bonuses for which
          payment is deferred for more than one year from the date for which the
          services relating to such bonus were performed).

     (h)  "Competitor" means any corporation, partnership, sole proprietorship,
          joint venture, association or any other business organization (i) that
          offers any product or product category offered by the Employer and
          which product or product category exceeds 10% of the gross revenues or
          10% of the pre-tax earnings of the Employer for the Employer's most
          recently ended fiscal year, and (ii) that conducts business in any
          location within North America.

     (i)  "Disability" means any accidental bodily injury or sickness.

     (j)  "Disability Retirement Date" means the last day of the month
          coincident with or next following the date on which a Participant
          terminates employment due to Total Disability.

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     (k)  "Early Retirement Date" means the last day of the month coincident
          with or next following the date the Participant has attained age 55
          and completed 10 Years of Service with the Employer.

     (l)  "Employee" means an individual who is in the employ of the Employer
          and who is either a highly compensated employee or a management
          employee.

     (m)  "Employer" means Littelfuse, Inc. and any of its wholly-owned
          subsidiaries.

     (n)  "Employment Termination Date" means, with respect to any Participant,
          the date on which the Participant's employment with the Employer is
          terminated whether because or retirement, resignation, dismissal,
          Total Disability, or death. Anything else contained in the
          Supplemental Plan to the contrary notwithstanding, a Participant shall
          be considered to have terminated employment, or to have retired, if,
          and only if, the Participant has incurred a separation from service
          with the Employer as defined in Section 409A of the Code. By way of
          illustration, and without limiting the generality of the foregoing,
          the following principals shall apply:

               (1) A Participant shall not be considered to have separated from
          service so long as the Participant is on military leave, sick leave,
          or other bona fide leave of absence if the period of such leave does
          not exceed six months, or if longer, so long as a Participant retains
          a right to reemployment with the Employer under an applicable statute
          or by contract.

               (2) Regardless of whether his employment has been formally
          terminated, a Participant will be considered to have separated from
          service only as of the date it is reasonably anticipated that no
          further services will be performed by the Participant for the
          Employer, or that the level of bona fide services the Participant will
          perform after such date will permanently decrease to no more than 20
          percent of the average level of bona fide services performed over the
          immediately preceding 36-month period (or the full period of
          employment if the Participant has been employed for less than 36
          months). For purposes of the preceding test, during any paid leave of
          absence the Participant shall be considered to have been performing
          services at the level commensurate with the amount of compensation
          received, and unpaid leaves of absence shall be disregarded.

               (3) For purposes of determining whether a Participant has
          separated from service, all services provided for the Employer, or for
          any other entity that is part of a controlled group that includes the
          Employer as defined in Section 414(b) or (c) of the Code, shall be
          taken into account, whether provided as an employee or as a consultant
          or other independent contractor; provided that a Participant shall not
          be considered to have not separated from service solely by reason of
          service as a non-employee director of the Employer or any other such
          entity.

     (o)  "ERISA" means the Employee Retirement Income Security Act of 1974, as
          now in effect or hereafter amended.

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     (p)  "Final Average Compensation" means the average annual Compensation
          paid to the Participant by the Employer during the five consecutive
          calendar year period preceding his termination of employment with the
          Employer.

     (q)  "Normal Retirement Age" means age 62.

     (r)  "Normal Retirement Date" means the last day of the month coincident
          with or next following the date the Participant attains Normal
          Retirement Age.

     (s)  "Participant" means a person who has satisfied the requirements of
          Sections 3.1 and 3.2.

     (t)  "Plan Year" means the calendar year; provided the initial Plan Year
          means the period beginning October 1, 1993 and ending December 31,
          1993.

     (u)  "Targeted Retirement Benefit" means with respect to each Participant
          the amount determined under the formula set forth in Section 3.3.

     (v)  "Terminated for Cause" means an Employee's termination of employment
          due to any one of the following:

          (i)  The Employee's felonious theft from the Employer, embezzlement of
               Employer funds, or any other fraud or dishonesty in any dealings
               with the Employer.

          (ii) The Employee's acceptance of any bribe, kick-back or other item
               of value from any person as consideration for acting or failing
               to act on behalf of the Employer.

          (iii) The Employee fails or refuses to competently perform the duties
               that the Employee is reasonably expected to perform, occasioned
               other than by reason of the Total Disability of the Employee, and
               such failure or refusal is not cured within sixty (60) calendar
               days after receipt of written notice from the Employer specifying
               said failure or refusal, such notice being given pursuant to a
               resolution adopted by the Board.

          (iv) The Employee is convicted of any felony or crime involving moral
               turpitude.

     (w)  Total Disability means that the Participant has been determined to
          suffer from a Disability which entitles him to benefits under the long
          term disability plan of the Employer in which the Participant
          participates (or would be eligible to participate but for an election
          not to do so), or if the Employer does not maintain any such plan,
          means that the Participant has been determined to have been disabled
          by the Social Security Administration as of his Employment Termination
          Date.

     (x)  "Valuation Date" means the last day of each Plan Year and the date the
          Supplemental Plan is terminated.

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     (y)  "Year of Service" means each twelve (12) consecutive month period
          during which the Participant is a full-time Employee of the Employer,
          commencing on the Employee's date of hire and each subsequent
          anniversary of such date.

     (z)  "Late Retirement Date" means the earlier of (i) the last day of the
          month coincident with or next following the date on which the
          Participant terminates employment after his Normal Retirement Date, or
          (ii) the last day of the Plan Year during which the Participant
          attains age 70-1/2.

In addition, other terms are defined in Article III which are used in the
calculation of benefits.

     2.2 Gender and Number. Except when otherwise indicated by the context,
words in the masculine gender shall include the feminine and neuter genders, the
plural shall include the singular, and the singular shall include the plural.

     2.3 Employment Rights. Establishment of this Supplemental Plan shall not be
construed to give any Participant the right to be retained by the Employer or
the right to any benefits not specifically provided by this Supplemental Plan.

     2.4 Severability. In the event any provision of this Supplemental Plan
shall be held invalid or illegal for any reason, any illegality or invalidity
shall not affect the remaining parts of this Supplemental Plan, but this
Supplemental Plan shall be construed and enforced as if the illegal or invalid
provision had never been inserted, and the Employer shall have the privilege and
opportunity to correct and remedy such questions of illegality or invalidity by
amendment as provided in this Supplemental Plan.

     2.5 Applicable Law. This Plan is intended to be exempt from Title IV of
ERISA. This Plan shall be governed and construed in accordance with Title I of
ERISA (including the exclusion for plans of this type contained therein) and the
laws of the State of Illinois to the extent not preempted by ERISA. This
Supplemental Plan is also intended to comply with the requirements of Section
409A of the Code and shall be so interpreted and administered. To the maximum
extent possible, the provisions of this Supplemental Plan shall be construed in
such a manner that no amounts payable to a Participant are subject to the
additional tax and interest provided in Section 409A(a)(1)(B) or Section 409A(b)
of the Code.

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                     ARTICLE III. SUPPLEMENTAL PLAN BENEFITS

     3.1 Eligibility for Participation. From time to time the Board, by
resolution, shall name the Employee or Employees who are eligible to participate
in the Supplemental Plan.

     3.2 Participation. Any Employee shall become a Participant as of the date
the Board specifies that the Employee is eligible to participate in the
Supplemental Plan pursuant to Section 3.1.

     3.3  Target Benefit.

     (a)  Targeted Retirement Benefit. The amount of a Participant's Targeted
          Retirement Benefit shall equal the excess, if any, of: (i) 65% of the
          Participant's Final Average Compensation (determined as of the
          Valuation Date) multiplied by a fraction (not in excess of one), the
          numerator of which equals the Participant's anticipated Years of
          Service with the Employer beginning on the Participant's date of hire
          by the Employer (or such other date as is specified for the
          Participant in the Board resolution initially naming such Employee as
          eligible to participate in this Supplemental Plan) and ending on his
          Normal Retirement Date or, if later, the Valuation Date, and the
          denominator of which is 12; over (ii) the Offset Amount as defined in
          subsection (b).

     (b)  Offset Amount. A Participant's Offset Amount is (i) the value of the
          Participant's accrued benefit under any qualified retirement plan
          (existing or to be adopted) sponsored by the Employer attributable to
          'employer contributions' within the meaning of Section 411(c)(1) of
          the Code (other than employer contributions made pursuant to an
          employee's election that meets the requirements of Section 401(k)(2)
          of the Code), and (ii) 50% of the amount of the Participant's Social
          Security retirement benefit. For purposes of determining a
          Participant's Offset Amount under this subsection (b), the value of
          each of the benefits described in the preceding sentence shall be
          projected to the Participant's Normal Retirement Date or, if later,
          the Valuation Date, and converted to a 50% joint and survivor annuity
          commencing on the Participant's Normal Retirement Date or, if later,
          the Valuation Date. The conversion, if any, shall utilize the
          actuarial assumptions set forth in Section 3.5(d). The projection of
          any defined contribution plan account balance shall be based upon the
          value of the Participant's plan accounts on the Valuation Date with
          earnings projected until the Participant's Normal Retirement Date or,
          if later, the Valuation Date based on the interest rate set forth in
          Section 3.5(a).

     3.4  Allocation Formula.

     (a)  As of each Valuation Date that occurs coincident with or prior to a
          Participant's Normal Retirement Date, the Account of a Participant
          shall be credited with an amount which would be necessary to fund such
          Participant's Targeted Retirement Benefit, determined as of each
          Valuation Date, through level annual contributions. As of each
          Valuation Date that occurs after a Participant's Normal

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          Retirement Date but coincident with or prior to his Late Retirement
          Date, the Account of each Participant shall be credited with an amount
          which would be necessary to fund the difference between (i) the
          Participant's Targeted Retirement Benefit determined as of the
          Valuation Date and (ii) the Participant's Targeted Retirement Benefit
          determined as of the immediately preceding Valuation Date; provided,
          however that in no event shall the difference be less than zero. The
          determination of the amount necessary to fund a Targeted Retirement
          Benefit shall be based on (i) the individual level premium method, and
          (ii) the actuarial assumptions set forth in Section 3.5. For a Plan
          Year, a Participant's Account shall be credited in accordance with
          this Section 3.4(a); provided, that the Participant is an Employee on
          the last day of the Plan Year. The immediately preceding sentence
          shall not apply for a Plan Year during which (i) the Supplemental Plan
          is terminated, or (ii) a Participant has terminated employment on or
          after attainment of Normal Retirement Age or due to death or Total
          Disability.

     (b)  As of each Valuation Date, the Account of each Participant shall be
          credited with interest at the rate set forth in Section 3.5 that has
          accrued on the Account since the immediately preceding Valuation Date.
          Each Plan Year, a Participant's Account shall be credited in
          accordance with this Section 3.4(b) until the Plan Year during which
          the Participant's benefits commence pursuant to Section 3.7, except as
          otherwise provided.

     3.5 Actuarial Assumptions. Actuarial assumptions used under this
Supplemental Plan shall be as follows:

     (a)  Post-retirement interest rate of 8.00% with post-retirement mortality
          based on the 1983 Group Annuity Mortality Table.

     (b)  A pre-retirement interest rate of 8.00% and no pre-retirement
          mortality.

     (c)  For purposes of determining the Offset in Section 3.3(b), the
          projection of Social Security retirement benefits shall be based upon
          the law as in effect on the Valuation Date, and shall assume (i) no
          cost of living increases in Social Security retirement benefits, and
          (ii) no increase in Participant Compensation (based on the
          Participant's Compensation for the full calendar year ending on or
          immediately prior to a Valuation Date) through the Participant's
          Normal Retirement Date or, if later, the Valuation Date.

     (d)  For purposes of converting a Participant's benefits under a qualified
          defined benefit plan as required under Section 3.3(b), the actuarial
          assumptions under such plan shall be used.

     (e)  For purposes of accruing interest under Section 3.8(b)(ii), the rate
          of interest as of a Valuation Date shall be the average annual rate of
          interest charged on long-term debt (including the current portion) of
          the Employer for the calendar year immediately preceding the Valuation
          Date.

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     3.6  Vesting.

     (a)  A Participant shall vest in his Account balance pursuant to the
          following table:

<TABLE>
<CAPTION>
 If a Participant's        The Participant's vested
Years of Service is   percentage in his Account shall be
-------------------   ----------------------------------
<S>                   <C>
          1                             0
          2                             0
          3                            30
          4                            40
          5                            50
          6                            60
          7                            70
          8                            80
          9                            90
         10                           100
</TABLE>

     (b)  Notwithstanding the vesting schedule specified in Section 3.6(a), a
          Participant's vested percentage in his Account balance shall be 100%
          upon his death, Total Disability or attainment of Normal Retirement
          Age.

     (c)  Notwithstanding the vesting schedule specified in Section 3.6(a), a
          Participant shall forfeit his entire Account balance if (i) he is
          Terminated for Cause, or (ii) he is employed by a Competitor within
          two years of his Employment Termination Date. If the Employer or the
          Committee determines that a Participant has become employed by a
          Competitor within two years from the Participant's Employment
          Termination Date, the Employer or Committee shall send to the
          Participant a written demand (the "Demand") for the Participant to
          repay to the Employer any amounts paid to the Participant under this
          Supplemental Plan. The Participant shall make such repayment within
          thirty (30) calendar days after the date the Demand is mailed to the
          Participant. The repayment shall be made by certified check, cashiers
          check, wire transfer or such other method as required by the Employer.
          The Demand must be mailed within one year from the date the
          Participant started employment with the Competitor; otherwise such
          Demand shall be without force and effect and the Participant shall not
          be required to repay any amounts to the Employer under this subsection
          (c). If a Participant fails to repay on a timely basis all or some
          portion of the amount due the Employer under this subparagraph (c),
          the Employer shall be entitled to receive from the Participant any
          attorneys' fees and costs that it incurs in connection with the
          collection of such amount.

     3.7 Payment of Benefits. A Participant's benefit under this Supplemental
Plan shall be based on his vested Account balance and shall commence pursuant to
the rules specified in this Section 3.7 and Section 3.8.

     (a)  Termination of Employment. Except as otherwise provided below,
          distribution of a Participant's benefit shall commence on the first
          business day that is at least six

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          months after his Employment Termination Date. Such benefit shall be
          paid in the form specified in Section 3.8.

     (b)  Election of Later Date. A Participant may elect to commence his
          benefit on the later of the date specified in paragraph (a) or the day
          the Participant attains a specified age. Such election must be made
          not later than December 31, 2007, for a Participant who is a
          Participant on such date, or within 30 days after the date on which
          the Participant is first designated as eligible to participate
          pursuant to Section 3.2 (provided that the Participant did not
          previously participate in any nonaccount balance plan required to be
          aggregated with the Plan pursuant to Code Section 409A). Any election
          pursuant to this paragraph (a) shall be made in writing in accordance
          with procedures established by the Committee, and shall be irrevocable
          after the last day for making the election.

     (c)  Termination of Employment Due to Total Disability. Distribution of a
          Participant's benefit who terminates employment by reason of Total
          Disability shall commence as soon as administratively feasible, but in
          no event more than 90 days, following the Participant's Disability
          Retirement Date.

     (d)  Termination of Employment Due to Death. If a Participant dies prior to
          termination of employment, or after termination of employment but
          prior to the commencement date determined under paragraph (a) or (b),
          distribution of benefits shall be made to the Participant's
          Beneficiary as soon as administratively feasible, but in no event more
          than 90 days, following the date of the Participant's death.

     (e)  Nondeductible Payments. If the Employer reasonably anticipates that
          any payment to a Participant for a taxable year of the Employer would
          not be deductible by the Employer solely by reason of the limitation
          under Section 162(m) of the Code, the Employer shall limit the benefit
          to the amount which is deductible by the Employer. The amount by which
          the Participant's benefit is reduced shall be retained in the
          Participant's Account shall be distributed to the Participant or his
          or her Beneficiary (in the event of the Participant's death) in the
          first calendar year in which the Employer reasonably anticipates that
          the deductibility of such distribution will not be limited by Section
          162(m) or, if earlier, during the period that commences on the day
          that is specified in paragraph (a) or (b) and ends on the later of the
          last day of the year in which the day specified in paragraph (a) or
          (b) occurs or the 15th day of the third month following the day
          specified in paragraph (a) or (b); provided that all other
          distributions of deferred compensation the deductibility of which
          would also be limited by Section 162(m) are also deferred.

     (f)  Inclusion in Income. Anything else contained herein to the contrary
          notwithstanding, if any portion of a Participant's Account is included
          in his taxable income by reason of Section 409A of the Code, the
          portion so included shall be distributed to him as soon as
          administratively feasible."

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     3.8 Forms of Distribution. A Participant's benefit payment under this
Supplemental Plan shall be based on the value of the Participant's vested
Account balance, determined as of the Valuation Date immediately preceding the
date benefit payments commence. The conversion of a benefit payment to an
annuity form shall be based on the actuarial assumptions set forth in Section
3.5. A Participant's benefit shall automatically be paid in the normal form
specified in paragraph (a) below, unless the Participant elects an optional form
of payment specified in paragraph (b) or (c) below.

     (a)  Normal Form of Payment. A Participant's benefit shall be paid in a
          lump sum equal to the Participant's vested Account balance unless the
          Participant elects to receive an optional form of payment as provided
          in paragraph (b). Such election must be made not later than December
          31, 2007, for a Participant who is a Participant on such date, or
          within 30 days after the date on which the Participant is first
          designated as eligible to participate pursuant to Section 3.2
          (provided that the Participant did not previously participate in any
          nonaccount balance plan required to be aggregated with the Plan
          pursuant to Code Section 409A). Notwithstanding the foregoing, a
          Participant who has elected payment in the form of a life annuity may
          elect a different form of life annuity that is actuarially equivalent
          (but not any other form of payment) at any time until payment
          commences. Any election pursuant to this paragraph (a) shall be made
          in writing in accordance with procedures established by the Committee,
          and shall be irrevocable after the last day for making the election.

     (b)  Optional Forms of Payment. In lieu of the normal form of benefit, a
          Participant may elect one of the following optional forms of benefit:

          (i)  For a Participant who is married on the date his benefits start,
               a monthly benefit payable for the lifetime of the Participant and
               upon the Participant's death a monthly benefit equal to fifty
               percent (50%) of the Participant's monthly benefit payable to the
               Participant's surviving spouse for the spouse's lifetime.

          (ii) A monthly benefit payable for the lifetime of the Participant,
               with no benefits payable after the death of the Participant.

          (iii) A monthly benefit payable for the lifetime of the Participant
               with a guaranteed payment period of up to 120 months (as selected
               by the Participant). If a Participant dies prior to the end of
               the guaranteed payment period, the monthly benefit for the
               remaining portion of such period shall be paid to the
               Participant's designated Beneficiary with no benefits payable
               after the end of such period. If a Participant dies after the end
               of the guaranteed payment period, no monthly benefit shall be
               paid thereafter. As of each Valuation Date occurring during the
               guaranteed payment period, the Account of such Participant shall
               be credited with interest at the rate set forth in Section 3.5(e)
               that has accrued since the immediately preceding Valuation Date
               (or, if occurring at a later date, since the date benefit
               payments commenced) if the payment period is less

                                       11

<PAGE>

               than 48 months. If the guaranteed payment period is in excess of
               47 months, the Account of such Participant shall be credited with
               interest that has accrued since the immediately preceding
               Valuation Date (or, if occurring at a later date, since the date
               benefit payments commenced) at the greater of (x) the rate set
               forth in Section 3.5(e) plus two percentage points, or (y) the
               rate set forth in Section 3.5(b). The Participant's monthly
               benefit payment shall be adjusted on each Valuation Date
               occurring during the guaranteed payment period to reflect changes
               in the Participant's Account due to the accrual of interest.

     (c)  Payment on Death. Payment to a Participant's Beneficiary pursuant to
          Section 3.7(c) shall be paid in a lump sum, unless the Participant
          elects payment in accordance with paragraph (b)(ii) or (b)(iii)
          (substituting the life of the Beneficiary for that of the
          Participant). The form of payment to the Beneficiary need not be the
          same as the form of payment to the Participant. Election of a form of
          payment to the Beneficiary may be made either at the time described in
          paragraph (a) or at least one year prior to the Participant's death,
          and any election made after the time specified in paragraph (a) shall
          be null and void if the Participant dies within one year after making
          the election.

     3.9 Beneficiary Designation. The Participant shall have the right, at any
time, to submit to the Employer a written designation of a Beneficiary to whom
payment of the Participant's benefit under the Plan shall be made in the event
of the Participant's death prior to complete distribution of the Participant's
benefit in accordance with the provisions hereunder. The designation of a
Beneficiary shall be made at such time and in such manner as the Committee may
require.

                                       12

<PAGE>

                         ARTICLE IV. GENERAL PROVISIONS

     4.1 Action by the Employer. Any action required of or permitted by the
Employer under this Supplemental Plan shall be by resolution of the Board or any
person or persons authorized by resolution of the Board, including, but not
limited to, the Committee.

     4.2 Administration. This Supplemental Plan shall be administered by the
Committee. The Committee shall have, to the extent appropriate, the same powers,
rights, duties, and obligations with respect to this Supplemental Plan as it
would have if it were charged with the duties of the Plan Administrator of any
retirement plan qualified under Section 401(a) of the Code. The Committee is
specifically granted the authority to interpret, in its sole discretion, all
terms and provisions of this Supplemental Plan.

     4.3 Expenses. The expenses of administering this Supplemental Plan shall be
borne by the Employer.

     4.4 Indemnification and Exculpation. The members of the Committee, its
agents and officers, directors and employees of the Employer shall be
indemnified and held harmless by the Employer against and from any and all loss,
cost, liability, or expense that may be imposed upon or reasonably incurred by
them in connection with or resulting from any claim, action, suit, or proceeding
to which they may be party or in which they may be involved by reason of any
action taken or failure to act under this Supplemental Plan and against and from
any and all amounts paid by them in settlement (with the Employer's written
approval) or paid by them in satisfaction of a judgment in any such action,
suit, or proceeding. The foregoing provision shall not be applicable to any
person if the loss, cost, liability, or expense is due to such person's gross
negligence or willful misconduct. The rights of indemnification contained in
this Section 4.4 are in addition to and in no way affect any rights to
indemnification otherwise provided under the Employer's by-laws.

     4.5 Funding. All benefits paid under this Plan shall be paid from the
general assets of the Employer subject to Section 4.6. Such amounts shall be
reflected on the accounting records of the Employer but shall not be construed
to create or require the creation of a trust, custodial, or escrow account. Any
amounts credited to a Participant's Account under the Plan and any earnings
thereon shall remain the property of the Employer. To the extent that any person
acquires a right to receive payments under the Plan, such right shall be no
greater than the right of any unsecured general creditor of the Employer.
Nothing contained in this Plan, and no action taken pursuant to its provisions,
shall create a trust or fiduciary relationship of any kind between the Employer
and an Employee, his Beneficiary, or any other person.

     4.6 Change in Control.

     (a)  Contemporaneous with the execution of this Supplemental Plan, the
          Employer shall establish and execute an irrevocable grantor trust
          ("Rabbi Trust") within the meaning of Sections 671 through 679 of the
          Code with corpus and income of the Rabbi Trust to be treated as assets
          and income, respectively, of the Employer for purposes of federal,
          state and local income tax laws. The Rabbi Trust shall be executed on
          behalf of the Employer by an authorized officer of the Employer and

                                       13

<PAGE>

          on behalf of the trustee of the Rabbi Trust by an authorized officer
          of the trustee (the "Trustee"). The Trustee shall be selected by the
          Board and shall be a financial institution with assets of at least
          $500,000,000 and with offices located within the United States. At the
          time of its execution, the Employer shall initially contribute to the
          Rabbi Trust the amount of $1,000. The Rabbi Trust shall be a means of
          segregating and accumulating funds to be used to pay benefits pursuant
          to the terms of the Supplemental Plan and no part of the assets of the
          Rabbi Trust shall be recoverable by the Employer until all benefits
          payable under the Plan have been paid to Participants and
          Beneficiaries; provided, however, that the assets of the Rabbi Trust
          shall be subject at all times to the claims of the Employer's
          creditors. The Employer shall be relieved of any obligation to pay any
          benefits under this Supplemental Plan to the extent that obligation
          has been discharged through payments made under the Rabbi Trust.
          Except as otherwise provided in this Section 4.6, the Employer shall
          be under no obligation to contribute funds to the Rabbi Trust.

     (b)  Within one business day of a Change in Control, the Employer shall
          wire transfer funds to the Trustee in an amount equal to the aggregate
          value of all Participants' vested Account balances determined as of
          the Valuation Date immediately preceding or coincident with such
          Change in Control.

     (c)  Anything else contained herein to the contrary notwithstanding, (1) no
          transfer shall be made to the Rabbi Trust (and no assets of the
          Employer shall otherwise be restricted for the payment of benefits
          under the Supplemental Plan, whether or not such assets are subject to
          the claims or creditors) if such transfer would be considered to be
          made in connection with a change in the Employer's financial health
          within the meaning of Section 409A(b)(2) of the Code, and (2) no
          transfer shall be made to the Rabbi Trust (and no assets of the
          Employer shall otherwise be set aside or reserved) for payment of
          benefits to a Participant who is either a covered employee as defined
          in Section 162(m)(3) of the Code, or subject to Section 16(a) of the
          Securities Exchange Act of 1934, during any restricted period with
          respect to any defined benefit pension plan as defined in Section
          409A(b)(3) of the Code.

     4.7 Interests not Transferable. The interests of the Participants and their
beneficiaries under this Supplemental Plan are not subject to the claims of
their creditors and may not be voluntarily or involuntarily transferred,
assigned, alienated, or encumbered.

     4.8 Cessation of Business. In the event that the Employer is liquidated in
a corporate dissolution taxed under Section 331 of the Code, or the dissolution
of the Supplemental Plan is approved by a bankruptcy court pursuant to Section
503(b)(1)(A) of the U.S. Bankruptcy Code, the Supplemental Plan shall be
dissolved as soon as possible but not later than 12 months after such corporate
dissolution or court approval, and all Participant's Accounts shall be fully
vested and distributed to them in a lump sum as soon as administratively
feasible after the date of dissolution.

                                       14

<PAGE>

     4.9 Effect on Other Benefit Plans. Amounts credited or paid under this
Supplemental Plan shall not be considered to be compensation for the purposes of
calculating benefits under any other employee benefit plans maintained by the
Employer. Notwithstanding the foregoing, the treatment of such amounts under any
other employee benefit plan or other compensation arrangement may be determined
pursuant to the provisions of such plan.

     4.10 Claims and Appeals Procedure. Each person asserting a right to
benefits under the Supplemental Plan (the "Applicant") must submit a written
claim for benefits to the Employer. Such claim shall be filed not more than one
year after the Applicant knows, or with the exercise of reasonable diligence
would know, of the basis for the claim. A formal claim shall not be required for
the distribution of a Participant's Account in the ordinary course of business,
but in any case a claim that relates to a dispute over the amount of a
distribution shall be filed not more than one year after the distribution is
paid.

     If a claim for benefits by the Applicant is denied, in whole or in part,
the Employer, shall furnish the Applicant within 90 days after receipt of such
claim, a written notice which specifies the reason for the denial, refers to the
pertinent provisions of the Supplemental Plan on which the denial is based,
describes any additional material or information necessary for properly
completing the claim and explains why such material or information is necessary,
and explains the claim review procedures of this Section 4.10. Such notice will
further describe that the Applicant has a right to bring a civil action under
Section 502 of ERISA if his claim is denied after an appeal and review, subject
to Section 4.11. The 90-day period may be extended by up to an additional 90
days if required by special circumstances, in which event the Applicant shall be
notified in writing by the end of the initial 90-day period of the reason for
the extension and an estimate of when the claim will be processed.

     Any Applicant whose claim is denied under the provisions described above
may request a review of the denied claim by written request to the Committee
within 60 days after receiving notice of the denial. If such a request is made,
the Committee shall make a full and fair review of the denial of the claim and
shall make a decision not later than 60 days after receipt of the request,
unless special circumstances (such as the need to hold a hearing) require an
extension of time, in which case a decision shall be made as soon as possible
but not later than 120 days after receipt of the request for review, and written
notice of the reason for the extension and an estimate of when the review will
be complete shall be given to the Applicant before the commencement of the
extension. The decision on review shall be in writing and shall include specific
reasons for the decision and specific references to the pertinent provisions of
the Supplemental Plan on which the decision is based. Such notice will further
describe that the Applicant has a right to bring a civil action under Section
502 of ERISA, subject to Section 4.11.

     No person entitled to benefits under the Supplemental Plan shall have any
right to seek review of a denial of benefits, or to bring any action to enforce
a claim for benefits, in any court or administrative agency (including any
arbitration pursuant to Section 4.11) prior to his filing a claim for benefits
and exhausting all of his rights under this Section 4.10, or more than 180 days
after he receives the Committee's decision on review of the denial of his claim.
Although not required to do so, an Applicant, or his representative, may choose
to state the reason or reasons he believes he is entitled to benefits, and may
choose to submit written evidence, during the initial claim process or review of
claim denial process. However, failure to state any such reason

                                       15

<PAGE>

or submit such evidence during the initial claim process or review of claim
denial process, shall permanently bar the Applicant, and his successors in
interest, from raising such reason or submitting such evidence in any forum at
any later date. An Applicant whose claim is denied initially or on review is
entitled to receive, on request and free of charge, reasonable access to, and
copies of, all documents, records, and other information relevant to such claim
for benefits.

     The provisions of this Section 4.10 are intended to comply with the
requirements of Department of Labor Regulations Section 2560.503-1 and shall be
so construed. Consistent with such requirements, each Claimant shall have the
right to be represented by a qualified representative (who need not be an
attorney) and to receive upon written request copies of all documents, records
or other information that are relevant to his claim as defined in Section
2560.503-1(m)(8).

     4.11 Arbitration. Subject to Section 4.10, either a Participant or the
Employer shall have the right to elect (in lieu of litigation) within the time
period specified in this Section 4.11 to have any dispute or controversy arising
under or in connection with the Plan settled by arbitration, conducted before a
panel composed of three arbitrators (the "Arbitration Panel"), the Participant
and Employer each selecting one arbitrator and the Chicago office of the
American Arbitration Association ("AAA") selecting one arbitrator with such
Arbitration Panel sitting in a location selected by the Employer within 25 miles
from the location of the Employer's principal place of business. A party must
give written notice (the "Arbitration Notice") to all affected parties and the
Committee of its election to arbitrate a dispute arising under the Supplemental
Plan. The Arbitration Notice shall set forth in detail the party's position as
to the disputed matter or matters. The Arbitration Notice may be provided to the
other party and the Committee at any time; provided, however that the
Arbitration Notice must be provided upon the earlier of (i) sixty (60) calendar
days from the date any party hereunder has filed suit in any court of competent
jurisdiction regarding the disputed matter or matters set forth in the
Arbitration Notice, or (ii) the date the statute of limitations has elapsed for
filing a suit in any court of competent jurisdiction with respect to the
disputed matter or matters set forth in the Arbitration Notice. The Participant
and Employer shall within five (5) calendar days of the date the Arbitration
Notice is given provide written notice to the Committee of the individual
approved by such party to serve as an arbitrator. The Committee shall within
five (5) calendar days of the date the Arbitration Notice is given request that
the AAA select an individual to serve as the third arbitrator. Upon receipt of
the name of the third arbitrator selected by AAA, the Committee shall promptly
deliver to the parties notice of the selection of the three arbitrators to serve
on the Arbitration Panel together with each arbitrator's name and address. The
determination of a majority of the three arbitrators serving on the Arbitration
Panel shall be final and binding upon the parties. To the extent not otherwise
inconsistent with the express provisions of this Plan, the rules of the AAA then
in effect shall apply unless the Participant and the Employer otherwise agree.
Judgment may be entered on the award of the Arbitration Panel in any court
having jurisdiction. The Arbitration Panel, in its sole discretion, may award
attorneys' fees and costs to the party in whose favor the Arbitration Panel
rules.

     4.12 Notice. Any notices, requests, demands, elections, or other
communications provided by this Plan shall be sufficient if in writing and sent
by registered or certified mail to the Participant at the last address he has
filed in writing with the Employer, or, in the case of the Employer, at its
principal offices.

                                       16

<PAGE>

     4.13 Tax Liability. The Employer may withhold from any payment of benefits
hereunder any taxes required to be withheld and such sum as the Employer may
reasonably estimate to be necessary to cover any taxes for which the Employer
may be liable to withhold on behalf of a Participant and which may be assessed
with regard to such payment.

     4.14 Successors. Any successor to the Employer may adopt this Plan and, in
such event, shall be subject to all of the provisions of the Supplemental Plan
to the same extent as the Employer. As used in this Supplemental Plan, the term
"successor" shall mean any person, firm, corporation, or business entity which
at any time, whether by merger, purchase, or otherwise, acquires all or
essentially all of the assets or business of the Employer.

                                       17

<PAGE>

                      ARTICLE V. AMENDMENT AND TERMINATION

     5.1 Amendment. The Employer reserves the right to amend this Supplemental
Plan from time to time, except as follows:

     (a)  No amendment to the Supplemental Plan shall have the effect of
          reducing or eliminating any benefits payable or accrued but not yet
          payable under the terms of this Supplemental Plan as of the date of
          the amendment.

     (b)  No amendments may be made to Sections 2.1(d) and 4.6 with respect to a
          Participant without the express written approval of such Participant.

     (c)  Article II and Article III may be amended at any time provided,
          however, that such amendment shall not take effect until twelve months
          after its adoption if less than 75% of the Participants consent in
          writing to the amendment. This paragraph (c) shall not apply to
          Section 3.5 which may be amended at any time by the Employer.

     (d)  No amendment by the Employer or any successor shall change the
          provisions of Sections 5.1(a), 5.1(b), 5.1(c) and this 5.1(d) hereof.

     5.2 Termination. Upon termination, the Accounts of all Participants shall
be fully vested, and shall be paid upon each Participant's Employment
Termination Date in accordance with Article III, unless the Committee determines
that the Supplemental Plan may be amended in connection with such termination to
provide for an immediate distribution of all Participants' Accounts consistently
with Section 409A of the Code.

     IN WITNESS WHEREOF, Littelfuse, Inc. has caused this instrument to be
executed by its duly authorized officers pursuant to a resolution of the Board
of Directors, this 26th day of October, 2007.

                                        LITTELFUSE, INC.

                                        By /s/ Gordon Hunter
                                           -------------------------------------
                                           Chairman of the Board of Directors

ATTEST:

By /s/ Mary S. Muchoney
   ----------------------------------
   Corporate Secretary

                                       18<PAGE>

                                                                    EXHIBIT 10.4

                         AMENDED AND RESTATED LITTELFUSE
                           DEFERRED COMPENSATION PLAN
                           FOR NON-EMPLOYEE DIRECTORS

                                    ARTICLE I
                               PURPOSE OF THE PLAN

     The purpose of the Littelfuse Deferred Compensation Plan for Non-employee
Directors (the "Plan") is to promote the ownership by non-employee directors of
Littelfuse, Inc., a Delaware corporation (the "Company"), of shares of common
stock, $.01 par value, of the Company (the "Company Common Stock"), by allowing
them to elect to receive shares of the Company Common Stock in lieu of their
receiving some or all of the cash compensation which they would otherwise be
entitled to receive as payment for their services as directors of the Company.
The Company believes that ownership of the Company Common Stock by its
non-employee directors aligns the interests of such non-employee directors more
closely with the interests of the stockholders of the Company and that the Plan
will also assist the Company in attracting and retaining highly qualified
persons to serve as non-employee directors of the Company.

     The Plan was originally adopted effective March 17, 2005, and has since
been amended. This Plan is hereby amended and restated in its entirety, in order
to incorporate all prior amendments and to make certain additional amendments
required to comply with Section 409A of the Internal Revenue Code of 1986 (the
"Code").

                                   ARTICLE II
                         ELECTIONS BY ELIGIBLE DIRECTORS

     Section 2.1. Eligibility. Any person who is serving as a director of the
Company and who is not an employee of the Company or any of its subsidiaries
shall be eligible to participate under the Plan (hereinafter referred to
individually as an "Eligible Director" and collectively as the "Eligible
Directors").

     Section 2.2. Compensation. As used herein, the term "Compensation" shall
mean any and all fees and retainers payable in cash to an Eligible Director by
the Company for his or her services as a director, including, without
limitation, his or her annual retainer and meeting fees. A Director shall be
deemed to have earned one-fourth of his or her annual retainer fee on the date
of each of the four regularly scheduled Board of Directors meetings, whether or
not he or she attends such meeting.

     Section 2.3. Compensation Deferral for 1995. Not later than June 30, 1995,
an Eligible Director may, by filing a written election with the Secretary of the
Company, direct the Company (a) to defer some or all of his or her Compensation
for 1995 which has not theretofore been earned by such Eligible Director in such
amount or percentage as specified by such Eligible Director and (b) to credit
the amount of such deferral to an account maintained on the books of the Company
for such Eligible Director (the

<PAGE>

"Deferred Compensation Account"), such credit to be made as of the date that
such Compensation is deemed to have been earned by such Eligible Director.

     Section 2.4. Compensation Deferral for 1996. Not later than June 30, 1995,
an Eligible Director may, by filing a written election with the Secretary of the
Company, direct the Company (a) to defer some or all of his or her Compensation
for 1996 in such amount or percentage as specified by such Eligible Director and
(b) to credit the amount of such deferral to such Eligible Director's Deferred
Compensation Account, such credit to be made as of the date that such
Compensation is deemed to have been earned by such Eligible Director.

     Section 2.5. Compensation Deferral for 1997 and Later Years. An Eligible
Director may, by filing a written election with the Secretary of the Company
from time to time, direct the Company (a) to defer some or all of his or her
Compensation which is payable to him or her on or after January 1, 1997, in such
amount or percentage as specified by such Eligible Director and (b) to credit
the amount of such deferral to such Eligible Director's Deferred Compensation
Account, such credit to be made as of the date that such Compensation is deemed
to have been earned by such Eligible Director. Effective for Compensation paid
on or after January 1, 2005, such election may be made within 30 days after an
Eligible Director is first elected to the Board. If not made during such 30 day
period, the election may be made prior to the beginning of any subsequent year,
and shall take effect on the first day of such subsequent year.

     Section 2.6. Interest. The Company shall credit the Deferred Compensation
Account for each Eligible Director with interest at the rate of eight percent
(8%) per annum on the balance of the Deferred Compensation Account from time to
time, such credit to be made on a monthly basis.

     Section 2.7. Elections. Once an election by an Eligible Director to defer
some or all of his or her Compensation becomes effective pursuant to this
Article, such election shall remain in effect until written notice terminating
or amending said election is delivered by said Eligible Director to the
Secretary of the Company. Effective as of January 1, 2005, any termination or
amendment of an election shall take effect on the first day of the year
following the year in which the notice is delivered to the Secretary.

     Section 2.8. Maximum Number of Shares. The maximum number of shares of
Company Common Stock which may be issued pursuant to the Plan shall be 160,000
shares.

                                   ARTICLE III
                   ESTABLISHMENT OF AND CONTRIBUTIONS TO TRUST

     Section 3.1. Establishment of Trust. The Company shall establish a trust
(the "Trust") with an independent third party trustee approved by the Board of
Directors of the Company (the "Trustee") pursuant to a trust agreement approved
by the Board of Directors of the Company (the "Trust Agreement") for the purpose
of holding shares of the Company Common Stock for the benefit of the Eligible
Directors.

                                       2

<PAGE>

     Section 3.2. Establishment of Trust Accounts. The Trustee shall establish a
separate account under the Trust (a "Trust Account" and, collectively with all
other Trust Accounts, the "Trust Fund") for any Eligible Director who elects to
defer Compensation pursuant to the Plan.

     Section 3.3. Contribution of Shares to Trust Accounts. Commencing on May
16, 2005, and continuing on each business day which is closest to each
subsequent August 15, November 15, February 15 and May 15 during the term of the
Plan, the Company shall issue in the name of the Trustee and deliver to the
Trustee stock certificates representing that number of shares of Company Common
Stock which is equal to the balance of the Eligible Director's Deferred
Compensation Account on the Valuation Date divided by the Current Market Price;
provided, however, that no fractional shares shall be issued. The Company shall
reduce such Eligible Director's Deferred Compensation Account by the amount
thereof which was used to purchase said shares of Company Common Stock and the
Trustee shall credit the Trust Account of such Eligible Director with such
number of shares of Company Common Stock. As used herein, the term "Valuation
Date" with respect to each such issuance of shares shall mean the date the
Company issues said shares and the term "Current Market Price" with respect to
each such issuance of shares shall mean the average of the closing prices for
shares of the Company Common Stock on The Nasdaq Stock Market on the five days
immediately preceding the Valuation Date upon which shares of the Company Common
Stock were traded on The Nasdaq Stock Market.

     Section 3.4. Dividends and Distributions. All dividends payable in cash
with respect to any shares of Company Common Stock held in the Trust for the
benefit of an Eligible Director which are received by the Trustee shall be
reinvested by the Trustee in shares of Company Common Stock, either pursuant to
purchases from the Company or from third parties, credited to the Trust Account
of such Eligible Director and held by the Trustee for the benefit of such
Eligible Director and distributed to such Eligible Director pursuant to Article
IV hereof. All non-cash dividends or other distributions with respect to any
shares of Company Common Stock held in the Trust for the benefit of an Eligible
Director which are received by the Trustee, or any shares of stock or other
securities of another entity into which such shares of Company Common Stock
shall be converted or exchanged pursuant to a merger, consolidation, exchange
offer or other transaction which are received by the Trustee, shall be credited
to such Eligible Director's Trust Account and held by the Trustee for the
benefit of such Eligible Director and distributed to such Eligible Director
pursuant to Article IV hereof.

     Section 3.5. Voting of Shares. All shares of Company Common Stock or other
voting securities credited to an Eligible Director's Trust Account shall be
voted by and in the discretion of the Trustee.

     Section 3.6. Trustee's Fees. All fees and expenses of the Trustee under the
Trust Agreement shall be paid by the Company.

                                       3

<PAGE>

     Section 3.7. Vesting. Except as otherwise provided in Article V hereof, the
interests of the Eligible Directors in their respective Deferred Compensation
Accounts and Trust Accounts shall at all times be fully vested and
non-forfeitable.

                                   ARTICLE IV
                            DISTRIBUTION OF ACCOUNTS

     Section 4.1. Time of Distributions. Distributions of any amounts or assets
credited to an Eligible Director's Deferred Compensation Account and Trust
Account shall commence or be made in the manner described in Section 4.2 hereof
within ten (10) days after the earlier of: (i) the date of the Eligible
Director' termination of service as a director of the Company on account of
resignation, removal, replacement, retirement, death or otherwise; or (ii) the
date the Board of Directors of the Company determines that it is in the best
interests of the Company or such Eligible Director that such distribution shall
be made; provided, however, that such Eligible Director must abstain from voting
on or with respect to, and may not otherwise participate in, any such
determination. The Board of Directors may only direct a distribution pursuant to
clause (ii) of any amount that was deferred on or after January 1, 2005 (or the
income attributable to such amounts) to the extent the Board of Directors
determines that such distribution is necessary to alleviate an unforeseeable
emergency, including any tax imposed on the distribution. For purposes of the
preceding sentence, an unforeseeable emergency means a severe financial hardship
to the Eligible Director resulting from an illness or accident of the Eligible
Director (or the Eligible Director's spouse, Beneficiary, or tax dependent);
loss of the Eligible Director's property due to casualty (including the need to
rebuild a home following damage to a home not otherwise covered by insurance,
for example, not as a result of a natural disaster); or other similar
extraordinary and unforeseeable circumstances arising as a result of events
beyond the control of the Eligible Director, determined in accordance with
regulations or other guidance promulgated under Section 409A of the Code. For
purposes of this Section 4.1, an Eligible Director shall not be considered to
have terminated his or her service as a director until he has incurred a
separation from service as defined in Section 409A of the Code.

     Section 4.2. Method of Distribution.

     (a) At the time of an Eligible Director's initial election described in
Article II, the Eligible Director making such election shall specify in a
written notice delivered to the Secretary of the Company whether the amounts and
assets credited to his or her Deferred Compensation Account and Trust Account
shall be distributed to him or her (or his or her beneficiary) in a single lump
sum distribution at the time described in Section 4.1, or in not more than ten
annual installments. The first such installment shall be paid not more at the
time described in Section 4.1, and subsequent payments shall be made on each
anniversary of such date. The amount of each such installment shall be equal to
the cash balance in his or her Deferred Compensation Account and the number of
shares in his or her Trust Account immediately prior to the distribution divided
by the number of installments remaining to be paid (rounded to the next higher
number of whole shares with respect to the Trust Account). If an Eligible
Director shall fail to make such an election, he or she shall be deemed to have
elected a lump sum distribution.

                                       4

<PAGE>

     (b) The Eligible Director may change such distribution election from time
to time by delivering written notice to the Secretary of the Company, subject to
the following. Effective as of January 1, 2008, no change in a distribution
election may be made within one year before the Eligible Director terminates his
or her service as a director, and if an Eligible Director's service is
terminated within one year after notice of any such change is given to the
Secretary, such change will be null and void. If an Eligible Director changes
his or her distribution election on or after January 1, 2008, then the portion
of his or her Deferred Compensation Account, and the number of shares in his or
her Trust Account. attributable to amounts deferred after December 31, 2004, and
before the first day of the year following the year in which the notice of such
change is given to the Secretary (including amounts attributable to earnings),
shall be distributed (or begin to be distributed in the case of installments) on
the day that is five years after the date it would have been distributed had
such change not been made. For purposes of Section 409A of the Internal Revenue
Code of 1986, payment in installments shall be considered a single payment.

     (c) Any amounts or assets credited to an Eligible Director's Deferred
Compensation Account and Trust Account shall be distributed or commence to be
distributed to such Eligible Director or his or her beneficiary at the time
described in Section 4.1 in the manner so specified. If the Company is not
Insolvent (as hereinafter defined) at the time of any distribution, the
distributions shall be made from the Eligible Director's Deferred Compensation
Account and Trust Account (as applicable) and charged to the Eligible Director's
Deferred Compensation Account and Trust Account (as applicable).

     Section 4.3. Designation of Beneficiary. Each Eligible Director
participating in the Plan shall designate a beneficiary or beneficiaries to whom
distributions shall be made pursuant to Section 4.2 in the event of the death of
the Director before his or her entire Deferred Compensation Account and Trust
Account is distributed. If there is no designated beneficiary, or no designated
beneficiary surviving at an Eligible Director's death, the Eligible Director's
beneficiary shall be his or her estate. Beneficiary designations shall be made
in writing. An Eligible Director may designate a new beneficiary or
beneficiaries at any time by filing a new election with the Secretary of the
Company.

     Section 4.4. Taxes. In the event any taxes are required by law to be
withheld or paid from any distributions made pursuant to the Plan, the Company
or Trustee (as applicable) shall deduct the amount of such taxes from such
distributions and shall transmit the withheld amounts to the appropriate taxing
authority or obtain payment from the appropriate Eligible Director of the amount
of any such taxes prior to any such distributions.

                                    ARTICLE V
                            CREDITORS AND INSOLVENCY

     Section 5.1. Claims of the Company's Creditors. All balances in the
Deferred Compensation Accounts and assets held in the Trust Accounts pursuant to
the Plan, and

                                       5

<PAGE>

any issuances of shares of Company Common Stock to be made by the
Company and any distribution to be made by the Trustee pursuant to the Plan and
Trust Agreement, shall be subject to the claims of the general creditors of the
Company, including judgment creditors and bankruptcy creditors. The rights of an
Eligible Director or his or her beneficiaries to any assets of the Company or
the Trust Fund shall be no greater than the rights of an unsecured creditor of
the Company.

     Section 5.2. Notification of Insolvency. In the event the Company becomes
Insolvent, the Board of Directors of the Company or the President of the Company
shall promptly notify the Trustee of that fact. In the event the Company becomes
Insolvent, the Company shall not issue any further shares of Company Common
Stock under the Plan. The Trustee shall not make any further distributions from
the Trust Fund to any Eligible Director or any beneficiary under the Plan after
such notification that the Company is Insolvent is received or at any time after
the Trustee has knowledge that the Company is Insolvent. Under any such
circumstance, the Trustee shall deliver any property held in the Trust Fund only
as a court of competent jurisdiction may direct to satisfy the claims of the
Company's creditors or otherwise. For purposes of this Plan, the Company shall
be deemed to be "Insolvent" if the Company is subject to a pending voluntary or
involuntary proceeding as a debtor under the United States Bankruptcy Code, as
amended, or is unable to pay its debts as they become due.

                                   ARTICLE VI
                                 MISCELLANEOUS

     Section 6.1. Funding. Neither any Eligible Director, nor his or her
beneficiaries, nor his or her heirs, successors or assigns, shall have any
secured interest in or claim on any property or assets of the Company or the
Trust under or pursuant to the Plan or otherwise. The Company's obligation under
the Plan shall be merely that of an unfunded and unsecured promise of the
Company to credit certain amounts to the Deferred Compensation Accounts and to
issue and deliver shares of the Company Common Stock to the Trustee for the
benefit of the Eligible Directors. The Company shall fund the Trust in
accordance with the terms of the Plan, but all assets contained therein shall be
and remain subject to the claims of the Company's general creditors as provided
in Article V hereof.

     Section 6.2. Term of Plan. The Board of Directors of the Company reserves
the right to amend the Plan or Trust Agreement or terminate the Plan or Trust at
any time; provided, however, that no amendment or termination shall affect the
rights of Eligible Directors to amounts or assets previously credited to their
Deferred Compensation Accounts or Trust Accounts and, provided further, that the
Plan may not be amended more than once every six months, other than to comport
with changes in the Code or the Employee Retirement Income Security Act, as
amended, or the rules thereunder, if such amendment would cause the Plan not to
be in compliance with Rule 16b-3 under the Securities Exchange Act of 1934.
Notwithstanding the foregoing, the Trust shall remain in effect until such time
as the entire corpus of the Trust Fund has been distributed pursuant to the
terms of the Trust Agreement, and the Plan shall remain in effect until

                                       6

<PAGE>

such time as all amounts credited to Eligible Directors' Deferred Compensation
Accounts are distributed pursuant to Article IV hereof.

     Section 6.3. Assignment. No right or interest of any Eligible Director or
his or her beneficiary (or any person claiming through or under such Eligible
Director or his or her beneficiary) in any benefit or payment under the Plan or
the Trust shall be assignable or transferable in any manner or be subject to
alienation, anticipation, sale, pledge, encumbrance or other legal process or in
any manner be liable for or subject to the debts or liabilities of such Eligible
Director.

     Section 6.4. Tax Effect. This Plan is intended to be treated as an unfunded
deferred compensation plan under the Code and, with respect to amounts deferred
on and after January 1, 2005, to comply in all respects with the requirements of
Section 409A of the Code and the regulations thereunder, and, to the maximum
extent permitted by law, the Plan shall be so construed and administered. It is
the intention of the Company that the amounts of Compensation which an Eligible
Director elects to have deferred pursuant to the Plan shall not be included in
the gross income of such Eligible Director or his or her beneficiaries until
such time as the amounts or assets credited to such Eligible Director's Deferred
Compensation Account and Trust Account are distributed to the Eligible Director
or his or her beneficiary under the Plan. If at any time any amount attributable
to the Eligible Directors' Deferred Compensation Accounts or Trust Accounts are
includible in the gross income of any Eligible Director or his or her
beneficiary before distribution pursuant to Article IV hereof, the amount
includible in income shall be immediately distributed to the respective Eligible
Director or beneficiary. Distributions described in the preceding sentence shall
only be made from the Trust if the Company is not Insolvent at the time for such
distribution.

     Section 6.5. Compliance with Rule 16b-3. It is the intent of the Company
that the Plan comply in all respects with applicable provisions of Rule 16b-3
under the Securities Exchange Act of 1934. Accordingly, if any provision of the
Plan does not comply with the requirements of said Rule 16b-3 as then applicable
to any such Eligible Director, or would cause any Eligible Director to no longer
be deemed a "disinterested person" within the meaning of said Rule 16b-3, such
provision shall be construed or deemed amended to the extent necessary to
conform to such requirements with respect to such Eligible Director. In
addition, the Board of Directors of the Company shall have no authority to make
any amendment, alteration, suspension, discontinuation or termination of the
Plan or take other action if and to the extent such authority would cause an
Eligible Director's transactions under the Plan not to be exempt or any Eligible
Director no longer to be deemed a "disinterested person," under said Rule 16b-3.

     Section 6.6. Governing Law. This Plan shall be governed by and construed in
accordance with the laws of the State of Illinois.

     Section 6.7. Successors. The provisions of this Plan shall bind and inure
to the benefit of the Company and its successors and assigns.

                                       7

<PAGE>

     Section 6.8. Effective Date of Plan. The Plan shall be effective as of
March 17, 1995, subject to approval by the stockholders of the Company. Any
Compensation deferral elections, credits to Deferred Compensation Accounts or
contributions to the Trust made prior to such stockholder approval shall be
contingent on such approval, and if such approval is not obtained prior to June
1, 1995, all Compensation deferral elections shall be deemed to be cancelled and
all amounts or assets credited to the Deferred Compensation Accounts and the
Trust Accounts shall be distributed to the Eligible Directors or their
beneficiaries. Distributions described in the preceding sentence shall only be
made if the Company is not Insolvent at the time for such distribution.

     Section 6.9. No Right to Continued Service. Nothing contained herein shall
be construed to confer upon any Eligible Director the right to continue to serve
as a Director of the Company or in any other capacity.

     Section 6.10. Compliance with Section 409A. Effective January 1, 2005, the
Plan shall be amended as follows:

          (i) Distributions. Notwithstanding anything to the contrary contained
     in the Plan, no distributions shall be permitted or made under the Plan
     which would cause the Plan not to meet, or be deemed to be operated not in
     accordance with, the requirements of Section 409A(a)(2) of the Code.

          (ii) Acceleration of Benefits. Notwithstanding anything to the
     contrary contained in the Plan, the acceleration of the time or schedule of
     any payment or distribution under the Plan which would cause the Plan not
     to meet, or be deemed to be operated not in accordance with, the
     requirements of Section 409A(a)(2) of the Code is prohibited, except as
     provided in regulations promulgated from time to time by the Secretary of
     the Treasury.

          (iii) Elections. Notwithstanding anything to the contrary contained in
     the Plan, no elections shall be permitted or made under the Plan which will
     cause the Plan to fail to meet, or be deemed to be operated not in
     accordance with, the requirements of Section 409A(a)(4) of the Code.

The provisions of this Section 6.10 shall not apply to amounts deferred before
January 1, 2005, except to the extent necessary to prevent the Plan from (i)
failing to meet the requirements of Section 409A(a)(2), (3) and (4) of the Code
or (ii) not being operated in accordance with such requirements.

                                       8

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