Document:

SECOND AMENDMENT TO

Exhibit 10(g)

SECOND AMENDMENT TO

SCHERING-PLOUGH CORPORATION

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

     The Schering-Plough Corporation Supplemental Executive Retirement Plan, as amended and restated to February 24, 1998, as further amended as of November 1, 1998 (as so amended, the "SERP") is hereby
amended effective as of October 1, 2000 as follows:

1.  SECTION 4.6 is hereby amended by deleting it in its entirety and replacing it with the following language:

     "The benefits under this Plan shall be payable to a Participant or Former Participant in the normal form such Participant's or Former Participant's retirement benefits would be payable under the Basic Plan
determined solely on the basis of his marital status on his retirement benefit commencement date and without regard for any optional form of benefits elected under the Basic Plan. Notwithstanding the preceding sentence, a Participant or Former Participant
may elect that payment of any benefits under this Plan shall be made in accordance with any optional form of benefit available under the Basic Plan or as hereinafter provided in this Section 4.6. A Participant or Former Participant may elect (the
"Participant's Lump Sum Election") to receive payment of the actuarial equivalent of the aggregate of his benefits under this Plan and any Survivor's Benefit payable to his Surviving Spouse under this Plan in a lump sum (x) in cash on his Early Retirement
Date, Normal Retirement Date, Deferred or Postponed Retirement Date, or Change of Control Termination Date, or the first day of any month thereafter not later than the first day of the month coincident with or next following the second anniversary of such
Early Retirement Date, Normal Retirement Date, Deferred or Postponed Retirement Date, or Change of Control Termination Date, as the case may be, or on the fifth, tenth, fifteenth or twentieth anniversary of his Early Retirement Date, Normal Retirement
Date, Deferred or Postponed Retirement Date, or Change of Control Termination Date, as the case may be, or (y) in two, three, four, five, ten, fifteen, or twenty equal annual cash installments commencing on his Early Retirement Date, Normal Retirement
Date, Deferred or Postponed Retirement Date, or Change of Control Termination Date or the first day of any month thereafter not later than the first day of the month coincident with or next following the second anniversary of such Early Retirement Date,
Normal Retirement Date, Deferred or Postponed Retirement Date, or Change of Control Termination Date, as the case may be. If a Participant or a Former Participant terminates his employment by Retirement or following a Change of Control and dies with a
Participant's Lump Sum Election in effect but prior to the payment of the full amount of such lump sum or annual installments, payment of the unpaid amount thereof shall be made to his Surviving Spouse, designated Beneficiary or estate in accordance with
such Election. Payment made in accordance with either of the two preceding sentences to the Participant or Former Participant, his Surviving Spouse, designated Beneficiary or estate shall constitute full and complete satisfaction of the Company's
obligation in respect of the benefits of such Participant or Former Participant and any Survivor's benefit of his Surviving Spouse. If a Participant or Former Participant dies before Retirement, the Company shall have no obligation in respect of his
benefits under this Plan and shall be obligated to pay any Survivor's Benefit, if, but only if, his spouse shall survive him. If the Participant or Former Participant does not make the Participant's Lump Sum Election, he may nevertheless elect (the
"Survivor's Lump Sum Election") that if he should die prior to termination of employment, his Surviving Spouse shall receive the actuarial equivalent of her Survivor's Benefit, if any, in a lump sum (x) in cash on the Optional Survivor's Benefit Payment
Date or the first day of any month thereafter not later than the first day of the month coincident with or next following the second anniversary of the Optional Survivor's Benefit Payment Date or on the fifth, tenth, fifteenth, or twentieth anniversary of
the Optional Survivor's Benefit Payment Date, or (y) in two, three, four, five, ten, fifteen, or twenty equal annual cash installments commencing on the Optional Survivor's Benefit Payment Date or the first day of any month thereafter not later than the
first day of the month coincident with or next following the second anniversary of the Optional Survivor's Benefit Payment Date. A Participant or a Former Participant may make any election pursuant to this Section 4.6. or may modify or rescind such an
election previously made: (a), in the case of an election of a form of benefit other than a lump sum or annual installments pursuant to a Participant's Lump Sum Election or a Survivor's Lump Sum Election, at any time prior to the Participant's or Former
Participant's Retirement or Change of Control Termination Date, except that in the case of a Participant or Former Participant whose employment is terminated other than by Retirement or following a Change of Control, such election, modification or
rescission must be made at least 90 days prior to his Normal Retirement Date; (b), in the case of a Participant's Lump Sum Election by a Participant or a Former Participant whose Retirement occurs on or after October 1, 1994, and on or before July 1,
1995, at least 30 days prior to the date of his Retirement; (c), in the case of a Participant's Lump Sum Election by a Participant or a Former Participant who is not covered by clause (b) of this sentence, not later than the end of the calendar year
preceding the calendar year in which the termination of his employment occurs and at least six months prior to such termination of employment; and (d), in the case of a Survivor's Lump Sum Election by a Participant of Former Participant, at least six
months prior to his death; provided, however, that in the event of a Change of Control, a Participant or Former Participant may make a Participant's Lump Sum Election or a Survivor's Lump Sum Election, or modify or rescind such an Election previously
made, within a period of 60 days following such Change of Control but in no event later than 30 days prior to the date of the termination of his employment. Notwithstanding any provision of this Plan to the contrary, after September 1, 2000, a Participant
or Former Participant who has made a Participant's Lump Sum Election may, at any time following his termination of employment (or the Surviving Spouse of a Participant or Former Participant who has made a Survivor's Lump Sum Election may, at any time
after the Participant's or Former Participant's death), make an irrevocable election (an "Early Distribution Election") to receive an early distribution of all or part of his benefits under this Plan in a single lump sum cash payment as soon as
practicable; provided, that the amount actually distributed shall be the elected amount less a penalty of 10% of the elected amount and such penalty amount shall be irrevocably forfeited, and the amount elected shall be deemed fully distributed. Any
election pursuant to this Section 4.6, or any modification or rescission of a previous election, shall be made in writing and filed with the Committee before the applicable limitation of time specified in this Section 4.6, and any election purported to be
filed after the applicable limitation of time shall be void. Unless otherwise specified in the written form of election, the actuarial equivalent of the benefits payable to a Participant or a Former Participant who has made a Participant's Lump Sum
Election, and the actuarial equivalent of any Survivor's Benefit payable to his Surviving Spouse pursuant to a Survivor's Lump Sum Election, shall be paid in five equal annual installments commencing on his Early Retirement Date, Normal Retirement Date,
Deferred or Postponed Retirement Date, or Change of Control Termination Date, or the first day of the month coincident with or next following his death, as the case may be, with interest payable at the three-month U.S. Treasury bill rate as reported in
The Wall Street Journal on the first business day of each calendar quarter. If benefits under this Plan are payable to a Participant or Former Participant in a different form than his retirement benefits under the Basic Plan, or if benefits under this
Plan are payable to a Participant or Former Participant prior to his retirement benefits under the Basic Plan, the amount of the offset provided in this Plan for such Participant's or Former Participant's Basic Plan Benefit shall be actuarially converted into the form of benefit payable under this Plan but solely for purposes of calculating the amount of such offset. Notwithstanding
any provision of this Plan to the contrary, a lump sum payment shall be made in lieu of any installments if the actuarial equivalent of the aggregate of his benefits under this Plan and any Survivor's Benefit payable to his Surviving Spouse under this
Plan is less than or equal to $5,000 or such other amount as may be established by the Committee from time to time. The amount of any lump sum payment shall be equal to the actuarial present value of the benefits payable under this Plan to a Participant,
Former Participant or Surviving Spouse (less the amount of any benefits previously paid to the Participant, Former Participant or Surviving Spouse (including the amount of the 10% penalty) in the case of an Early Distribution Election made after
commencement of payment of any benefits under this Plan), calculated as of the Early Retirement Date, Normal Retirement Date, Deferred or Postponed Retirement Date, Change of Control Termination Date or date of death of the Participant or Former
Participant, as the case may be, by utilizing (a) the interest rate determined as of such Retirement Date, Change of Control Termination Date or date of death under the regulations of the Pension Benefit Guaranty Corporation for determining the present
value of a lump sum distribution on plan termination that were in effect on September 1, 1993 , and (b) the other applicable actuarial assumptions in use as of such Retirement Date, Change of Control Termination Date or date of death under the Basic Plan.
The amount of any annual installment shall be calculated by converting the benefits payable under this Plan to a Participant, Former Participant or Surviving Spouse, as the case may be, into a lump sum amount in accordance with the preceding sentence and
by dividing such amount by the number of installments elected or deemed to have been elected by the Participant or Former Participant. The amount of any lump sum or annual installment of the benefit of any Participant or Former Participant that is not
paid within fifteen days after the date of his Retirement or Change of Control Termination Date, and the amount of any lump sum or annual installment of any Survivor's Benefit of his Surviving Spouse that is not paid within fifteen days after the Optional
Survivor's Benefit Payment Date, shall bear interest from such fifteenth day after the date of Retirement, Change of Control Termination Date or the Optional Survivor's Benefit Payment Date, as the case may be, to but excluding the date of payment of such
amount, at the Deferral Rate, compounded semi-annually. Interest on any such amount shall be paid on the date such amount is paid or, at the election of the Participant or Former Participant, as the case may be, such interest shall be paid currently on a
semiannual basis (with such election to be made on or before the last date on which a Participant's Lump Sum Election or Survivor's Lump Sum Election, as applicable, may be made). If the benefits under this Plan are to continue after a Participant's or
Former Participant's death for the benefit of his spouse or a designated beneficiary, then such Participant or Former Participant shall have the right at any time to change the recipient of the survivorship benefit payable under this Plan; provided,
however, that any such change, if made after the applicable deadline set forth in the Basic Plan, shall not affect the amount of the benefit payable under this Plan as originally calculated or the term for which such benefit is payable, also as originally
calculated. The Committee may, in its sole discretion, defer the payment of any lump sum or initial annual installment to a Participant or a Former Participant who is a "covered employee" as defined in Section 162(m) of the Internal Revenue Code of 1986,
as amended, if such payment would be subject to such Section's limitation on deductibility; provided, however, that such payment shall not be deferred to a date later than the earliest date in the year in which such payment would not be subject to such
limitation; and further provided that the Company shall, at the time of payment of any amount so deferred, pay interest thereon from the due date thereof at the Deferral Rate, compounded semi-annually."

2.  SECTION 6. Committee, is hereby amended by adding at the end of Section 6.1 the following language:

     "In connection with the administration of this Plan, the Committee may delegate in writing part or all of its authority under this Plan to such party or parties as it may deem necessary or appropriate."

3.  Section 7.3 is hereby amended by adding at the beginning thereof the following language:

     "The Plan is intended to constitute a nonqualified deferred compensation arrangement maintained for a select group of management or highly compensated employees within the meaning of Title I of ERISA."

4.  Section 7.6 is hereby amended by deleting it in its entirety and replacing it with the following language:

     "The Company may withhold from any payment required to be made under the Plan any federal, state or local taxes required by law to be withheld with respect to such payment and such sums as the Company may
reasonably estimate are necessary to cover any other amounts for which the Company may be legally liable and which may be assessed with regard to such payment."

5.  SECTION 7, Miscellaneous is hereby further amended by adding new Sections 7.7 and 7.8 as follows:

     "7.7 The masculine pronoun shall mean the feminine wherever appropriate.

      7.8 The Plan shall be construed, administered and enforced under ERISA and the laws of the State of New Jersey, except where ERISA controls."

6.  Except as specified above, the SERP is hereby ratified and confirmed without amendment.EXECUTIVE INCENTIVE PLAN PERM

Exhibit 10(i)

SCHERING-PLOUGH CORPORATION

DEFERRED COMPENSATION PLAN

As Amended and Restated to October 1, 2000

Article I -- Definitions

     The following words and phrases, as used herein, have the following meaning unless a different meaning is plainly required by the context:

	
"Affiliated Company"
	
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any corporation, partnership, or other legal entity controlled directly or indirectly by the Company.

	
"Board"
	
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the Board of Directors of the Company.

	
"Code"
	
-
	
the Internal Revenue Code of 1986, as amended.

	
"Committee"
	
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the Executive Compensation and Organization Committee appointed by the Board.

	
"Company"
	
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Schering Plough Corporation, a New Jersey corporation, or any successor by merger, purchase or otherwise.

	
"Company Stock"
	
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the common stock of the Company.

	
"Company Stock Fund"
	
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the Investment Fund that is invested in Company Stock.

	
"Former Participant"
	
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a person no longer in the employ of the Company or an Affiliated Company who is entitled to receive a distribution under the Plan.

	
"Investment Committee"
	
 
	
the Schering-Plough Employees Benefits Investment Committee.

	
"Investment Funds"
	
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the separate funds or investment vehicles, selected by the Investment Committee from time to time, in which deferred awards are deemed to be invested pursuant to a Participant's election made in accordance with the Plan.

	
"Nonqualifying Compensation"
	
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any compensation that is subject to the limitation on deductibility contained in Section 162(m) of the Code and the rules and regulations thereunder by reason of being "applicable employee remuneration" as defined therein.

	
"Participant"
	
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any employee of the Company or an Affiliated Company in a salary grade of E-6 or above.

	
"Plan"
	
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this Plan, either in its present form or as hereafter amended from time to time.

	
"Share Equivalents"
	
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with respect to the number of Units credited to the Company Stock Fund as of a given date, the equivalent number of shares of Company Stock, where one Unit is deemed to equal one issued and outstanding share of Company Stock.

	
"Terminated Participant"
	
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any employee of the Company or an Affiliated Company who is no longer in a salary grade of E-6 or above.

	
"Unit Value"
	
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with respect to an Investment Fund as of a given date, the quotient obtained by dividing the fair market value of the portion of the Investment Fund attributable to the Plan at such date by the number of Units then outstanding
credited to the deferred accounts of all Participants, Former Participants and Terminated Participants who have elected to participate in such Investment Fund, excluding any amounts to be credited as of such date, provided that the Unit Value of any
mutual fund shall be the net asset value as of the close of business at such date as reported in The Wall Street Journal, or if not reported on such date, on the nearest preceding day reported. The Unit Value of the Company Stock Fund as of a given date,
shall be the closing price of the Company Stock on such date as reported in The Wall Street Journal, or if there were no sales of the Company Stock on such date, on the nearest preceding day on which there were sales, as adjusted from time to time in
accordance with Paragraph 3 of Article III.

Article II -- Purpose

     The purpose of the Plan is to provide an opportunity to Participants to defer receipt of compensation that may be nondeductible by the Company pursuant to Section 162(m) of the Code. The Plan is an
unfunded plan maintained primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees.

Article III -- Deferral of Nonqualifying Compensation

     1.  (a) A Participant may, prior to the commencement of any calendar year, or with respect to a new Participant prior to the date of commencement of his participation, elect to have all his
Nonqualifying Compensation for such year deferred until the earliest of his retirement, disability, death, other termination of employment, or, except for amounts credited to the Company Stock Fund, the repeal of Section 162(m) of the Code (herein called
"the Deferral Period"). Any election to defer shall be made by written notice in a form prescribed by the Committee or its delegate, and shall include the allocation (in multiples of 1%) of the deferred award among each of the Investment Funds (the
"Investment Election"). If a Participant fails to make an Investment Election for his Nonqualifying Compensation, the Participant shall be deemed to have elected to participate only in the Investment Fund invested in a money market fund or the functional
equivalent thereof.

         (b) In addition, Participants, Former Participants and Terminated Participants who have elected to defer receipt of Nonqualifying Compensation shall specify whether deferred amounts
will be paid (i) in substantially equal annual installments, in multiples of five but not exceeding twenty, commencing within 45 days following the date of termination of the Deferral Period, or (ii) in a lump sum within 45 days following termination of
the Deferral Period, or (iii) on or about the first day of April of the calendar year following the calendar year of termination of the Deferral Period (such election, the "Payout Election"). A Payout Election shall initially be made (the "Initial Payout
Election") in the first notice of election (the "First Election Notice") on or after September 1, 2000. Except as otherwise provided below, the Initial Payout Election shall apply to all future amounts credited to the Participant's, Former Participant's or Terminated Participant's deferred account from and after the date of the First
Election Notice. If a new Participant fails to make an Initial Payout Election, the new Participant shall be deemed to have elected to receive deferred awards in a lump sum on the first day of April of the calendar year following the calendar year of termination
of the Deferral Period. Participants, Former Participants and Terminated Participants (other than Former Participants or Terminated Participants receiving payments under the Plan as of September 1, 2000) may also elect (a "Global Payout Election") in the
First Election Notice to have the Initial Payout Election supersede all previous payout elections made prior to September 1, 2000. If a Participant, Former Participant or Terminated Participant elects not to make or fails to make a Global Payout Election,
Units credited to the Participant's, Former Participant's or Terminated Participant's deferred account as of September 1, 2000 shall remain subject to the payout elections as in effect prior to September 1, 2000. A Participant or Terminated Participant
may, no later than one year prior to termination of employment (the "Final Payout Election Cutoff Date"), by written notice in a form prescribed by the Committee or its delegate, make a final Payout Election (the "Final Payout Election"), which shall
supersede the Initial Payout Election, the Global Payout Election and any other previous payout elections still in effect. Participants and Terminated Participants only may make two Final Payout Elections. The second Final Payout Election shall be
irrevocable and shall supersede the first Final Payout Election. If no Final Payout Election has been made on or prior to the Final Payout Election Cutoff Date, then all previous payout elections shall become irrevocable. Former Participants and
Terminated Participants receiving installment payments under the Plan as of September 1, 2000 shall continue to receive remaining installments in accordance with payout elections as in effect as of September 1, 2000.

     2.  (a) The Company shall establish a separate deferred account for each Participant. As of each distribution date (a "Distribution Date"), there shall be credited to each such deferred
account the number of units ("Units"), calculated to the nearest thousandth of a Unit, for each Investment Fund in which the Participant, Former Participant or Terminated Participant elects to participate, by dividing the amount of the Participant's,
Former Participant's or Terminated Participant's deferred amount allocated to such Investment Fund by the Unit Value of the Investment Fund as of such Distribution Date. 

         (b) Each Investment Fund shall be valued on each day on which the applicable financial market conducts business, and the proportionate share of the increase or decrease in the
fair market value of each Investment Fund in which a Participant, Former Participant or Terminated Participant elects to participate shall be allocated to such Participant's, Former Participant's or Terminated Participant's deferred account. 

         (c) As soon as practicable after the end of each calendar quarter, each Participant, Former Participant and Terminated Participant who has elected to defer receipt of any award
shall be furnished with a statement setting forth the value of his or her deferred account as of the end of such calendar quarter. 

     3.  Whenever a dividend is declared and paid from time to time with respect to Company Stock, the Company Stock Fund shall be credited with a number of Units equal to (a) with respect to a
dividend payable in cash or other property, the number of Share Equivalents credited to the Company Stock Fund on the dividend record date (before giving effect to the dividend), multiplied by the fair market value of the dividend declared on a share of
Company Stock and (b) with respect to a dividend payable in shares of Company Stock, the number of Share Equivalents credited to the Company Stock Fund on the dividend record date (before giving effect to the dividend), multiplied by the dividend declared
on a share of Company Stock. The deferred account of each Participant, Former Participant and Terminated Participant electing to participate in the Company Stock Fund shall be credited with the pro rata share of the total number of Units credited to the
Company Stock Fund in respect of such dividend. In the event of any capital stock adjustment to Company Stock (other than a stock dividend described in clause (b) above), an appropriate adjustment shall be made to the Company Stock Fund and each such
deferred account as of the date of such capital stock adjustment.

     4.  (a) On the applicable payout date, an amount of cash equal to the sum (such sum, the "Aggregate Fair Market Value") of the products obtained, for each Investment Fund in which the
Participant, Former Participant or Terminated Participant elects to participate, by multiplying the Unit Value by the number of Units credited to a Participant's, Terminated Participant's, or Former Participant's deferred account and allocated to such
Investment Fund on the payout date shall be payable either in a lump sum or in the number of annual installments payable as specified by a Participant, Former Participant or Terminated Participant in his election under paragraph 1 of this Article.
Notwithstanding any provision of the Plan to the contrary, a lump sum payment shall be made in lieu of any installments if the value of a Participant's, Terminated Participant's or Former Participant's deferred account is less than or equal to $5,000 or
such other amount as may be established from time to time by the Investment Committee. Any lump sum payment shall be valued as of the payout date. The amount of each installment payment shall be determined by dividing the Aggregate Fair Market Value on
the payout date by the remaining number of unpaid installments.

         (b) The Committee may, in its sole discretion, where a Participant, Terminated Participant or Former Participant has terminated his employment and where it finds such action
necessary to avoid severe financial hardship to a Participant, Terminated Participant or Former Participant or their respective beneficiaries, direct at any time that payment of any installment or lump sum be accelerated or that any remaining installments
due to a Participant, Terminated Participant or Former Participant or their respective beneficiaries or estates shall be paid in a lump sum. A severe financial hardship must result from the illness of or an unexpected accident or casualty to the
Participant, Terminated Participant or Former Participant or a member of his or her family or to his or her property, or due to other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the
Participant, Terminated Participant or Former Participant. A severe financial hardship shall not exist to the extent the loss or expense is covered by insurance or can be met by the sale of other liquid assets of the Participant, Terminated Participant or
Former Participant. Unforeseeable hardship shall not include the college expenses of a child or the costs of purchasing a residence. The amount of any distribution hereunder shall not exceed the amount reasonably needed to meet the severe financial
hardship. Any benefits payable under the Plan shall be equitably reduced to reflect any payments made from any trust established by the Corporation to meet its obligations under this Plan. 

         (c) A Participant, Former Participant or Terminated Participant may, by written notice in a form prescribed by the Committee or its delegate, make an irrevocable election (an
"Early Distribution Election") to receive an early distribution of all or part of the Participant's, Former Participant's or Terminated Participant's deferred account balance in a lump sum cash payment as soon as practicable. For purposes of determining
the amount available for early distribution, the value of a Participant's, Former Participant's or Terminated Participant's deferred account balance shall be established as of the applicable payout date. The amount actually distributed shall be the
elected amount less a penalty of 10% of the elected amount. Such penalty amount shall be irrevocably forfeited to the Company, and the amount elected shall be deemed fully distributed.

         (d) Anything in this Plan to the contrary notwithstanding, the Committee may, in its sole discretion, further defer the payment of any lump sum or annual installment otherwise
payable under paragraph 1 of this Article III to any Participant, Former Participant or Terminated Participant, if such payment would be nondeductible by the Company at the time it would otherwise be paid by reason of the limitation of Section 162(m) of
the Code; provided, however, that such payment shall be made on the earliest date on which it would no longer be nondeductible by the Company by reason of such limitation; and provided further, however, that in no event shall the Committee so defer any
such payment for more than two years.

         (e) A Participant, Terminated Participant or Former Participant shall hold in trust and promptly refund to the Company at its request any amount covered by a deferral election
or credited to his deferred account under this Plan, if by reason of a miscalculation or other mistake by the Company such amount is received by him before it is due and payable in accordance with this Plan.

     5.  Designations of beneficiaries shall be made in writing filed with the Company in such form and in such manner as the Company may from time to time prescribe. Beneficiaries may be changed by a
Participant, Terminated Participant or Former Participant in the same manner at any time prior to death, and may thereafter be designated or changed by a surviving beneficiary eligible to receive any payment unless a successor beneficiary to such
surviving beneficiary has been designated by the Participant, Terminated Participant, Former Participant or prior beneficiary. If a Participant, Terminated Participant, Former Participant or beneficiary eligible to receive any payment dies without a
surviving beneficiary having been designated, or with his estate or a trust designated as the beneficiary, his interest under the Plan shall be distributed to the legal representative of his estate, or to the trustee of any such trust, in a lump sum on
the 90th day after his death.

     6.  A Participant, Former Participant, or Terminated Participant may reallocate his deferred account balance among the Investment Funds as follows:

	
(i) the election shall be made by written notice in a form prescribed by the Committee or its delegate;

	
(ii) the reallocation shall be effected as of the date the requisite form is delivered to the Corporation, or as soon thereafter as practicable; and

	
(iii) a reallocation may only be made once during any calendar year by a Participant, Former Participant, or Terminated Participant.

Article IV -- Administration of the Plan

     The Plan shall be administered by or under the direction of the Committee, and all questions arising in connection with the Plan shall be determined by the Committee. The officers of the Company and
the Committee may employ and rely upon such legal counsel, consultants, accountants and agents as they may deem advisable. Decisions of the Committee shall be conclusive and binding upon all persons. Except as otherwise provided in Article V, the
Committee may delegate in writing part or all of its authority under the Plan to such party or parties as it may deem necessary or appropriate.

Article V -- Amendment or Termination

     The Plan may be amended or terminated at any time by action of the Board; provided, however, that no such amendment or termination shall affect the rights of a Participant, Terminated Participant,
Former Participant or beneficiary to receive amounts credited to his deferred account.

Article VI -- Miscellaneous

     1.  Neither the establishment of the Plan nor participation therein shall confer upon any person any right to be continued as an employee of the Company or an Affiliated Company, and the
Company reserves the right to discharge any employee whenever in its sole judgment the interest of the Company or an Affiliated Company so requires.

     2.  All expenses of administering the Plan shall be paid by the Company.

     3.  No benefit under the Plan shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, or charge or subject to attachment, garnishment, or
other legal process, except as otherwise required by applicable law.

     4.  The Company may withhold from any payment required to be made under the Plan any federal, state or local taxes required by law to be withheld with respect to such payment and such sums as the
Company may reasonably estimate are necessary to cover any other amounts for which the Company may be legally liable and which may be assessed with regard to such payment.

     5.  The masculine pronoun shall mean the feminine wherever appropriate.

     6.  The Plan shall be construed, administered and enforced under the laws of the State of New Jersey.

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