Document:

Exhibit 10.8

    Exhibit
      10.8

     

    [FORM
      OF
      RESTRICTED STOCK AWARD AGREEMENT 

    FOR
      ROBERT
      A. MARCHETTI]

    

    BE
      AEROSPACE, INC. 2005 LONG-TERM INCENTIVE PLAN

    RESTRICTED
      STOCK AWARD AGREEMENT 

     

    THIS
      AWARD
      AGREEMENT (the “Award
      Agreement”)
      is made
      effective as of ______________ (the “Date
      of Grant”)
      between
      BE Aerospace, Inc., a Delaware corporation (the “Company”),
      and
      Robert A. Marchetti (the “Participant”).
      Capitalized terms not otherwise defined herein shall have the same meanings
      as
      in the BE Aerospace, Inc. 2005 Long-Term Incentive Plan (the “Plan”).

     

    WHEREAS,
      the Company desires to grant the Restricted Stock provided for herein to the
      Participant pursuant to the Plan and the terms and conditions set forth
      herein;

     

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

     

    1.
      Grant
      of the Award.
      Subject
      to the provisions of this Award Agreement and the Plan, the Company hereby
      grants to the Participant, an aggregate of ________________ restricted shares
      of
      Common Stock (the “Restricted
      Stock”),
      subject to adjustment as set forth in the Plan.

     

    2.
      Incorporation
      of Plan.
      The
      Participant acknowledges receipt of the Plan, a copy of which is attached hereto
      and represents that he is familiar with its terms and provisions. This Award
      Agreement and the Restricted Stock shall be subject to the Plan, the terms
      of
      which are incorporated herein by reference, and in the event of any conflict
      or
      inconsistency between the Plan and this Award Agreement, the Plan shall govern.
      Defined terms used herein without definition shall have the meanings ascribed
      thereto in the Plan.

     

    3.
      Vesting
      Schedule.
      Unless
      previously vested or canceled in accordance with the provisions of the Plan
      or
      this Award Agreement, fifty percent (50%) of the shares of Restricted Stock
      shall vest and shall no longer be subject to cancellation pursuant to Section
      4
      or the transfer restrictions set forth in Section 7 on each of the first and
      second anniversaries of the Date of Grant.

     

    4.
      Termination
      of Employment.
      In the
      event of the Participant’s termination of employment with the Company prior to
      the vesting of all shares of Restricted Stock hereunder for any reason other
      than death or Disability, all unvested shares of Restricted Stock shall be
      cancelled immediately without consideration as of the date of such termination.
      

     

    5.
      Death
      or Disability.
      If,
      prior to the vesting of all shares of Restricted Stock hereunder, the
      Participant’s employment with the Company terminates due to death or Disability,
      all of the unvested shares of Restricted Stock shall vest immediately and shall
      no longer be subject to cancellation pursuant to Section 4 or the transfer
      restrictions set forth in Section 7.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    6.
      Change
      in Control.
      Upon a
      Change in Control prior to the vesting of all shares of Restricted Stock
      hereunder, all of the unvested shares of Restricted Stock shall vest immediately
      and shall no longer be subject to cancellation pursuant to Section 4 or the
      transfer restrictions set forth in Section 7.

     

    7.
      Nontransferability
      of Restricted Stock.
      Unless
      otherwise determined by the Committee, the Restricted Stock may not be
      transferred, pledged, alienated, assigned or otherwise attorned other than
      by
      last will and testament or by the laws of descent and distribution or pursuant
      to a domestic relations order, as the case may be; provided,
      however,
      that the
      Committee may, subject to such terms and conditions as it shall specify, permit
      the transfer of the Restricted Stock, including, without limitation, for no
      consideration to a charitable institution or a Permitted Transferee. Any shares
      of Restricted Stock transferred to a charitable institution may not be further
      transferable without the Committee’s approval and any shares of Restricted Stock
      transferred to a Permitted Transferee shall be further transferable only by
      last
      will and testament or the laws of descent and distribution or, for no
      consideration, to another Permitted Transferee of the Participant.

     

    8.
      Rights
      as a Stockholder.
      The
      Participant shall have, with respect to the Restricted Stock, all the rights
      of
      a stockholder of the Company, including, if applicable, the right to vote the
      Restricted Stock and to receive any dividends or other distributions, subject
      to
      the restrictions set forth in the Plan and this Award Agreement.

     

    9.
      Dividends
      and Distributions.
      Any
      cash, Common Stock or other securities of the Company or other consideration
      received by the Participant as a result of a distribution to holders of
      Restricted Stock or as a dividend on the Restricted Stock shall be subject
      to
      the same restrictions as the Restricted Stock, and all references to Restricted
      Stock hereunder shall be deemed to include such cash, Common Stock or other
      securities or consideration.

     

    10.
      Legend
      on Certificates.
      The
      Committee may cause a legend or legends to be put on certificates representing
      the Common Stock underlying the Restricted Stock to make appropriate reference
      to such restrictions as the Committee may deem advisable under the Plan or
      as
      may be required by the rules, regulations, and other requirements of the
      Securities and Exchange Commission, any exchange that lists the Common Stock,
      and any applicable federal or state laws.

     

    11.
      Conditions
      to Delivery of Common Stock Certificates.
      The
      Company shall not be required to deliver any certificate or certificates for
      shares of Common Stock pursuant to this Agreement prior to fulfillment of all
      of
      the following conditions:

     

    (a)
      The
      obtaining of any approval or other clearance from any state or federal
      governmental agency which the Committee determines to be necessary or advisable;
      and

     

    (b)
      The
      lapse
      of such reasonable period of time as the Committee may from time to time
      establish for reasons of administrative convenience.

     

    12.
      Physical
      Custody.
      The
      Restricted Stock may be issued in certificate form or electronically in “book
      entry”. The Secretary of the Company or such other representative as the
      Committee may appoint shall retain physical custody of each certificate
      representing Restricted Stock until all of the restrictions imposed under this
      Award Agreement with respect to the shares evidenced by such certificate expire
      or are removed. In no event shall the Participant retain physical custody of
      any
      certificates representing unvested Restricted Stock assigned to
      Participant.

     

    
      
        
        

      

      
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    13.
      No
      Entitlements.

     

    (a)
      No
      Right to Continued Employment.
      This
      award is not an employment agreement, and nothing in this Award Agreement or
      the
      Plan shall (i) alter the Participant’s status as an “at-will” employee of the
      Company, (ii) be construed as guaranteeing the Participant’s employment by the
      Company or as giving the Participant any right to continue in the employ of
      the
      Company during any period (including without limitation the period between
      the
      Date Of Grant and the applicable vesting date in accordance with Section 3)
      or
      (iii) be construed as giving the Participant any right to be reemployed by
      the
      Company following any termination of Employment.

     

    (b)
      No
      Right to Future Awards.
      This
      award of Restricted Stock and all other equity-based awards under the Plan
      are
      discretionary. This award does not confer on the Participant any right or
      entitlement to receive another award of Restricted Stock or any other
      equity-based award at any time in the future or in respect of any future
      period.

     

    (c)
      No
      Effect on Future Employment Compensation.
      The
      Company has made this award of Restricted Stock to the Participant in its sole
      discretion. This award does not confer on the Participant any right or
      entitlement to receive compensation in any specific amount for any future fiscal
      year, and does not diminish in any way the Company’s discretion to determine the
      amount, if any, of the Participant’s compensation. In addition, this award of
      Restricted Stock is not part of the Participant’s base salary or wages and will
      not be taken into account in determining any other employment-related rights
      the
      Participant may have, such as rights to pension or severance pay.

     

    14.
      Taxes
      and Withholding.
      No later
      than the date as of which an amount with respect to the Restricted Stock first
      becomes includable in the gross income of the Participant for applicable income
      tax purposes, the Participant shall pay to the Company or make arrangements
      satisfactory to the Committee regarding payment of any federal, state or local
      taxes of any kind required by law to be withheld with respect to such amount.
      Unless otherwise determined by the Committee, in accordance with rules and
      procedures established by the Committee, the minimum required withholding
      obligations may be settled in Common Stock, including Common Stock that is
      part
      of the award that gives rise to the withholding requirement. The obligations
      of
      the Company to deliver the certificates for shares of Common Stock under this
      Award Agreement shall be conditional upon such payment or arrangements and
      the
      Company shall, to the extent permitted by law, have the right to deduct any
      such
      taxes from any payment of any kind otherwise due to the Participant, including,
      without limitation, by withholding shares of Common Stock to be delivered upon
      vesting.

     

    15.
      Section
      83(b) Election.
      If,
      within 30 days of the Date of Grant, the Participant makes an election under
      Section 83(b) of the Code, or any successor section thereto, to be taxed with
      respect to all or any portion of the Restricted Stock as of the date of transfer
      of the Restricted Stock rather than as of the date or dates upon which the
      Participant would otherwise be taxable under Section 83(a) of the Code, the
      Participant shall deliver a copy of such election to the Company immediately
      after filing such election with the Internal Revenue Service.

     

    
      
        
        

      

      
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    16.
      Securities
      Laws.
      In
      connection with the grant or vesting of the Restricted Stock the Participant
      will make or enter into such written representations, warranties and agreements
      as the Committee may reasonably request in order to comply with applicable
      securities laws or with this Award Agreement.

     

    17.
      Miscellaneous
      Provisions.

     

    (a)
      Notices.
      Any
      notice necessary under this Award Agreement shall be addressed to the Company
      in
      care of its Secretary at the principal executive office of the Company and
      to
      the Participant at the address appearing in the records of the Company for
      the
      Participant or to either party at such other address as either party hereto may
      hereafter designate in writing to the other. Notwithstanding the foregoing,
      the
      Company may deliver notices to the Participant by means of email or other
      electronic means that are generally used for employee communications. Any such
      notice shall be deemed effective upon receipt thereof by the
      addressee.

     

    (b)
      Headings.
      The
      headings of sections and subsections are included solely for convenience of
      reference and shall not affect the meaning of the provisions of this Award
      Agreement.

     

    (c)
      Counterparts.
      This
      Award Agreement may be executed in two or more counterparts, each of which
      shall
      be deemed to be an original but all of which together will constitute one and
      the same instrument.

     

    (d)
      Entire
      Agreement.
      This
      Award Agreement and the Plan constitute the entire agreement between the parties
      hereto with regard to the subject matter hereof. They supersede all other
      agreements, representations or understandings (whether oral or written and
      whether express or implied) that relate to the subject matter
      hereof.

     

    (e)
      Amendments.
      The
      Board or the Committee shall have the power to alter, amend, modify or terminate
      the Plan or this Award Agreement at any time; provided,
      however,
      that no
      such termination, amendment or modification may adversely affect, in any
      material respect, the Participant’s rights under this Award Agreement without
      the Participant’s consent. Notwithstanding the foregoing, the Company shall have
      broad authority to amend this Award Agreement without the consent of the
      Participant to the extent it deems necessary or desirable (i) to comply with
      or
      take into account changes in or interpretations of, applicable tax laws,
      securities laws, employment laws, accounting rules and other applicable laws,
      rules and regulations, (ii) to ensure that the Restricted Stock is not subject
      to taxes, interest and penalties under Section 409A of the Code, (iii) to take
      into account unusual or nonrecurring events or market conditions, or (iv) to
      take into account significant acquisitions or dispositions of assets or other
      property by the Company. Any amendment, modification or termination shall,
      upon
      adoption, become and be binding on all persons affected thereby without
      requirement for consent or other action with respect thereto by any such person.
      The Committee shall give written notice to the Participant in accordance with
      Section 17(a) of any such amendment, modification or termination as promptly
      as
      practicable after the adoption thereof. The foregoing shall not restrict the
      ability of the Participant and the Company by mutual consent to alter or amend
      the terms of the Restricted Stock in any manner that is consistent with the
      Plan
      and approved by the Committee. 

     

    
      
        
        

      

      
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    (f)
      Successor.
      Except
      as otherwise provided herein, this Award Agreement shall be binding upon and
      shall inure to the benefit of any successor or successors of the Company, and
      to
      any Permitted Transferee pursuant to Section 7.

     

    (g)
      Choice
      of Law.
      Except
      as to matters of federal law, this Award Agreement and all actions taken
      thereunder shall be governed by and construed in accordance with the laws of
      the
      State of Delaware (other than its conflict of law rules).

     

     

    IN
      WITNESS
      WHEREOF, the parties hereto have executed this Agreement.

     

    

      
        	 	
                BE
                  AEROSPACE, INC.

              
	 	 	 
	 	
                By:

              	 	
              
	 	 	
                Name:
                  Amin Khoury

              
	 	 	
                Title:
                  Chairman of the Board

              

      

    

     

     

     

    5Exhibit
      10.4

    

    AUTOMATIC
      DATA PROCESSING, INC.

    SUPPLEMENTAL
      OFFICERS RETIREMENT PLAN

     

    The
      purpose of this Supplemental
      Officers Retirement Plan (the "Plan") is to provide an additional means by
      which
AUTOMATIC DATA PROCESSING, INC. may attract, retain and
      encourage the productive efforts of a select group of corporate vice presidents
      and more senior corporate officers who provide valuable services to
AUTOMATIC DATA PROCESSING, INC. and its
      subsidiaries.  The Plan provides supplemental
      retirement benefits to qualifying participants.

     

    The
      Plan is as follows:

    

    ARTICLE
      I

     

    DEFINITIONS

     

    The
      following terms when used in this
      Plan shall have the designated meaning, unless a different meaning is clearly
      required by the context.

     

    1.1           Annual
      Plan Benefit.  The Annual Plan Benefit shall be the
      annual amount of a Participant's Plan benefit calculated in accordance with
      the
      provisions of Section 3.1 below.

     

    1.2           Annual
      Benefit Multiplier.  The Annual Benefit Multiplier shall
      be 1-1/2%.

     

    1.3           Committee.  Three
      board members or senior officers of the Corporation appointed from time to
      time
      by the Board of Directors of the Company.

     

    1.4           Board.  The
      Board of Directors of the Company.

     

    1.5           Code.  The
      Internal Revenue Code of 1986, as amended.

     

    1.6           Company.  Automatic
      Data Processing, Inc. ("ADP") and its subsidiaries, and ADP's
      successors.

     

    1.7           Early
      Retirement Date.  The date on which a Participant attains
      age sixty (60).

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      1.8           Final
        Average Annual Pay.  The average annual compensation of a
        Participant for the five full consecutive calendar years during his Future
        Service period during which he received the largest total amount of
        compensation.  For this purpose, a Participant’s “compensation” shall
        mean the total compensation actually paid or accrued by the Company to or
        for
        such Participant including, without limitation, bonuses paid or accrued (other
        than any bonuses paid or accrued under the Company’s three-year GIP growth
        incentive plan), performance incentive payments and the like and restricted
        stock plans and programs (other than (A) the Company’s 2005 fiscal year and 2006
        fiscal year broad-based performance-based restricted stock programs (PBRS)
        in
        which all “letter grade” associates participated and (B) the Company’s two-year
        accelerated revenue PBRS programs (i.e. the ARPs), the first of which commenced
        in the Company’s 2007 fiscal year), and excluding relocation pay, compensation
        derived from stock options, stock appreciation rights or any similar plans;
        provided that, notwithstanding anything to the contrary set forth herein,
        amounts deferred at such Participant’s election under a plan described in
        section 401(k) of the Code, and the value (at time of grant) of any stock
        option
        grant made in lieu of a bonus payment, shall be included in such Participant’s
        compensation.  The Company’s chief executive officer shall determine
        the value of any stock option grant made in lieu of a bonus payment, which
        value
        shall not, in any event, be: (i) greater than the “target bonus” amount of the
        stock option grant was made in lieu of (the “Substituted Amount”) or (ii) less
        than the amount such Participant would have received had the foregoing stock
        option grant not been made and the normal bonus “scoring” methodology been
        applied to the Substituted Amount, provided that such amount shall not exceed
        the Substituted Amount.  The value of such stock option grant shall be
        included in a Participant’s compensation in the calendar year in which the bonus
        (which the stock option was granted in lieu of) would have otherwise been
        paid
        or accrued.  The value (on the date that restrictions lapse) of a
        Participant’s restricted stock with restrictions lapsing during the Company’s
        fiscal year that begins during the

       

      
        
           

        

        
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        applicable
          calendar year shall be included in the Participant’s compensation for such
          calendar year; provided that, in the case of restricted stock that is includable
          in a Participant’s compensation for calendar year 2007, the value of such
          restricted stock will be determined by multiplying (a)  the price of a
          share of the Company’s common stock on the date the restrictions thereon lapse
          (determined consistently with past practice), by (b) the number resulting
          from
          multiplying the aggregate number of includable restricted shares by a fraction,
          the numerator of which is the “last trade” price of a share of the Company’s
          common stock on the trading date immediately prior to the date the Spin-off
          occurs and the denominator of which is the “first trade” price of the Company’s
          common stock on the trading date on which the Spin-off has
          occurred.

         

        1.9           Future
          Service.  A Participant's period of full calendar years
          of continuous employment with the Company after his Plan participation
          has
          begun.  Leaves of absence of less than six months may be taken into
          account as Future Service, to the extent provided by the
          Committee.  The Committee may, in the applicable Supplement, grant a
          Participant prior service credit for determining the length of his Future
          Service period.  In addition, at the discretion of the Company’s Chief
          Executive Officer, for the calendar year in which a Participant incurs
          either an
          involuntary severance or severance which entitles the Participant to severance
          pay under the Company’s severance policy, the Participant shall be credited with
          one full calendar year without regard to when such severance pay
          terminates.  Such service shall in no event be duplicative of service
          otherwise credited under the Plan and shall not be extended under this
          provision
          beyond the calendar year in which the severance pay commences.

         

        1.10          Government
          Sponsored Plan Benefits.  The annual amount of benefits
          to which a Participant is entitled on his Normal Retirement Date under
          all
          government sponsored retirement benefit plans (including, without limitation,
          Participant's Social Security benefits).  A Participant's government
          sponsored retirement plan benefits shall be expressed as an annual

         

        
          
             

          

          
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        amount
          in
          the form of an actuarially equivalent straight life annuity starting on
          his
          Normal Retirement Date.

         

        1.11                      Maximum
          Annual Benefit Limitation.  The Maximum Annual Benefit
          Limitation shall be 25% of a Participant's Final Average Annual
          Pay.

         

        1.12                      Normal
          Retirement Date.  The date on which the Participant
          attains age sixty-five (65).

         

        1.13                      Other
          Retirement Benefits.  The sum of the Participant's
          Private Sector Plan Benefits and his Government Sponsored Plan
          Benefits.

         

        1.14                      Participant.  An
          individual who has been designated as a Participant by the Committee pursuant
          to
          Article II.

         

        1.15                      Pension
          Plan.  Automatic Data Processing, Inc. Pension Retirement
          Plan.

         

        1.16                      Private
          Sector Plan Benefits.  The annual amount of benefits to
          which a Participant is entitled on his Normal Retirement Date under all
          retirement plans maintained by the Company (other than this Plan), or by
          any
          former or subsequent employer of Participant (other than a governmental
          body
          covered by Section 1.10 above), whether as a periodic payment, as a lump
          sum, or
          otherwise.  A Participant's Private Sector Plan Benefits shall be
          expressed as an annual amount in the form of an actuarially equivalent
          straight
          life annuity starting at his Normal Retirement Date.

         

        1.17                      Spin-off.  The
          tax-free spin-off of the Company’s Brokerage Services Group
          business.

         

        1.18                      Supplement.  A
          supplement attached to and made a part of this Plan, which shall set forth
          for
          each Participant any special conditions applicable to him.

         

        1.19                      Termination
          of Employment.  References hereunder to a Participant's
          termination of employment, the date a Participant's employment terminates
          and
          the like, shall refer to the ceasing of the Participant's employment with
          the
          Company for any reason.

      

       

      
        
           

        

        
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        1.20                      Vested
          Percentage.  Except to the extent set forth in Sections
          3.4 and 5.5, until a Participant completes 5 full calendar years of Future
          Service, such Participant's Vested Percentage shall be 0% and he shall
          not be
          entitled to any Plan benefits hereunder.  Upon completing 5, 6, 7, 8,
          9, and 10 or more full calendar years of Future Service, a Participant's
          Vested
          Percentage shall be 50%, 60%, 70%, 80%, 90%, and 100%,
          respectively.  The Committee may, in the applicable Supplement, grant
          a Participant prior service credit for determining his Vesting Percentage
          purposes.  Any Participant who has passed the age of 55 and served as
          a corporate officer for more than 5 years as of the effective date of this
          Plan,
          January 1, 1989, shall be 100% vested in all of his plan benefits
          hereunder.

        

        ARTICLE
          II

         

        ELIGIBILITY

        

        (a)           The
          Committee may at any time and from time to time (but prospectively only)
          designate any corporate vice president or any more senior corporate officer
          of
          the Company as a Participant in the Plan; provided that such person participates
          to the maximum extent permissible in the Company's other retirement plans
          (including, without limitation, the Automatic Data Processing, Inc. Retirement
          and Savings Plan and the Automatic Data Processing, Inc. Pension Retirement
          Plan) during the entire period he is a Participant in the Plan.

         

        (b)           A
          person shall automatically cease to be a Participant on the earlier to
          occur of
          the date on which: (i) he is no longer a corporate vice president or a
          more
          senior corporate officer of the Company; or (ii) he ceases to participate
          to the
          maximum extent permissible in the Company's retirement plans (including,
          without
          limitation, the Automatic Data Processing, Inc. Retirement and Savings
          Plan and
          the Automatic Data Processing, Inc. Pension Retirement Plan).

         

        
          
             

          

          
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        ARTICLE
          III

         

        RETIREMENT
          BENEFITS

         

        3.1           In
          General.

         

        (a)           A
          Participant's Annual Plan Benefit is the product of (i) his Final Average
          Annual
          Pay, (ii) his Future Service period, (iii) the Annual Benefit Multiplier
          and
          (iv) his Vested Percentage, then subtracting from such product the amount
          payable under the Pension Plan pursuant to a transfer from the Plan to
          the
          Pension Plan; provided that, in no event, may the Participant’s Annual Plan
          Benefit exceed the Maximum Annual Benefit Limitation applicable to him
          (including any amount transferred to the Pension Plan).

         

        (b)           In
          addition, the Annual Plan Benefits otherwise payable to a Participant under
          the
          Plan's basic benefit formula set forth in Section 3.1(a) above shall be
          reduced
          to the extent necessary to cause the total of (i) Participant's Annual
          Plan
          Benefits and (ii) Participant's annual Other Retirement Benefits not to
          exceed
          60% of Participant's Final Average Annual Pay.

         

        (c)           A
          Participant's benefits under this Plan shall be expressed as an annual
          amount in
          the form of a straight life annuity or, at the Committee's election, another
          actuarially equivalent payment option (other than a lump sum).

         

        3.2           Normal
          Retirement Benefit.  Unless the Participant has commenced
          payments under the Plan pursuant to Section 3.3 below, the Company will
          pay the
          Participant a monthly benefit, starting on the first of the month after
          Normal
          Retirement Date and ending with the payment for the month in which his
          death
          occurs; provided that no benefit shall be paid hereunder unless and until
          such
          Participant has ceased to be employed by the Company.  Such monthly
          benefit shall be one-twelfth of such Participant's Annual Plan Benefit
          determined in accordance with the provisions of Section 3.1 above.

         

        
          
             

          

          
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          3.3           Early
            Retirement Benefit.  The Company will pay the Participant
            a monthly benefit starting on the first of the month following his Early
            Retirement Date and ending with the payment for the month in which his
            death
            occurs; provided that no benefit shall be paid hereunder unless and until
            such
            Participant has ceased to be employed by the Company.  Such monthly
            benefit shall be in an amount equal to the product of the monthly benefit
            the
            Participant would have received under Section 3.2 if the Participant
            had
            commenced receiving payments under the Plan on his Normal Retirement
            Date,
            actuarially reduced to reflect the commencement of the payment of Plan
            benefits
            before his Normal Retirement Date.

           

          3.4           Disability
            Retirement Benefit.  If a Participant shall incur a
            Disability while employed by the Company, the Company shall pay such
            Participant
            a monthly benefit starting on the first day of the calendar month after
            the date
            his Disability begins and ending with the payment for the calendar month
            in
            which his death occurs or his disability ends, whichever occurs
            first.  Such monthly benefit (which shall not be reduced by, and shall
            not reduce, the benefits, if any, payable to a Participant under the
            Company's
            Long Term Disability Insurance Program) shall be calculated in the same
            way as
            an Early Retirement benefit under Section 3.3, based on his Final Average
            Annual
            Pay when his Disability begins (which will, for purposes of this Section
            3.4
            only, be determined over less than five full consecutive calendar years
            to the
            extent that his Future Service period is less than five years), except
            that (i)
            the Vested Percentage shall always be 100%, (ii) there shall not be any
            actuarial reduction to reflect the commencement of the payment of benefits
            before his Normal Retirement Date, and (iii) there shall not be any Future
            Service period accrual during his Disability.  For purposes of this
            Section 3.4, "Disability" shall have the same meaning, and shall be determined
            in the same manner, as it is determined under the Company's Long Term
            Disability
            Insurance Program as in effect on the date the Disability begins.

           

          
            
               

            

            
              -
                7
                -

              
                

              

            

            
               

            

          

           

        

      

      
        3.5           No
          Duplication.  In no event shall benefits become payable
          to any Participant under more than one Section of this Article III.

        

        ARTICLE
          IV

         

        FORFEITURES

         

        4.1           Forfeiture
          for Competitive Employment.  If a Participant violates
          the non-competition provisions of any agreement he has entered into with
          the
          Company after his employment terminates, or if his employment with the
          Company
          is terminated on account of his dishonesty or gross negligence, such Participant
          shall forever and irrevocably forfeit all benefits otherwise due him under
          the
          terms of the Plan.

         

        4.2           Limitation.  If
          any provision of this Article IV shall be unenforceable as a matter of
          law, it
          shall be construed to apply to the greatest extent permitted by law so
          as to
          give effect to its intended purposes.

        

        ARTICLE
          V

         

        CONDITIONS
          RELATED TO BENEFITS

         

        5.1           Administration
          of Plan.  The Committee shall administer the Plan and
          shall have the sole and exclusive authority to interpret, construe and
          apply its
          provisions.  The Committee shall have the power to establish, adopt
          and revise such rules and regulations as it may deem necessary or advisable
          for
          the administration of the Plan and the operation of the Committee's activities
          in connection therewith.  All decisions of the Committee shall be by
          vote or written consent of the majority of its members and shall be final
          and
          binding.  Members of the Committee shall be eligible to participate in
          the Plan while serving as a member of the Committee, but a member of the
          Committee shall not vote or act upon any matter which relates solely to
          such
          member in his capacity as a Participant.

         

        
          
             

          

          
            -
              8
              -

            
              

            

          

          
             

          

        

         

        
          5.2           Grantor
            Trust.  The Committee may, at its discretion, have the
            Company create a grantor trust (within the meaning of section 671 of
            the Code)
            in connection with the adoption of this Plan to which it may from time
            to time
            contribute amounts to accumulate an appropriate reserve against its obligations
            hereunder.  Notwithstanding the creation of such trust, the benefits
            hereunder shall be a general obligation of the Company.  Except to the
            extent that the benefit amounts payable hereunder have been specifically
            transferred for an identified Participant into the Pension Plan pursuant
            to the
            terms and conditions of the Pension Plan and are payable thereunder,
            a
            Participant shall have only a contractual right as a general creditor
            of the
            Company to the amounts, if any, payable hereunder and such right shall
            not be
            secured by any assets of the Company or the trust.

           

          5.3           No
            Right to Company Assets.  Except to the extent that
            benefit amounts have been specifically transferred for an identified
            Participant
            into the Pension Plan pursuant to the terms and conditions of the Pension
            Plan
            and are payable thereunder, neither a Participant nor any other person
            shall
            acquire by reason of the Plan any right in or title to any assets, funds
            or
            property of the Company whatsoever including, without limiting the generality
            of
            the foregoing, any specific funds or assets which the Company may set
            aside in
            anticipation of a liability hereunder, nor in any policy or policies
            of
            insurance on the life of a Participant owned by the Company.

           

          5.4           No
            Employment Rights.  Nothing herein shall constitute a
            contract of continuing employment or in any manner obligate the Company
            to
            continue the service of a Participant, or obligate a Participant to continue
            in
            the service of the Company, and nothing herein shall be construed as
            fixing or
            regulating the compensation paid to a Participant.

           

          5.5           Company's
            Right to Terminate and Amend.  The Company reserves the
            right in its sole discretion at any time to amend the Plan in any respect
            or
            terminate the Plan.  Notwithstanding the foregoing, no such amendment
            or termination shall reduce the amount of the

           

          
            
               

            

            
              -
                9
                -

              
                

              

            

            
               

            

          

          
             

            benefit
              theretofore vested by any Participant or change the conditions required
              to be
              satisfied to receive payment of such past accrued benefit based on
              the
              provisions of the Plan as theretofore in effect.  For this purpose,
              the amount of a Participant's accrued benefit as of the date of any
              plan
              amendment or termination shall be determined as if the Participant
              was then
              retiring in accordance with Section 3.3 with his actual Vested Percentage
              accrued as at such date; provided that if the Company is terminating
              the Plan
              and if a Participant has not completed at least 5 years of Future Service,
              Participant's Vested Percentage shall be (i) 40% if he has completed
              4 years of
              Future Service, (ii) 30% if he has completed 3 years of Future Service,
              (iii)
              20% if he has completed 2 years of Future Service, (iv) 10% if he has
              completed
              1 year of Future Service, and (v) 0% if he has not completed 1 year
              of Future
              Service.

             

            5.6           Protective
              Provisions.  The Participant shall cooperate with the
              Company by furnishing any and all information requested by the Company
              in order
              to facilitate the payment of benefits hereunder.

             

            5.7           Right
              of Offset.  If at the time any payment is to be made
              hereunder a Participant is indebted to the Company or otherwise subject
              to a
              monetary claim by the Company, the payments remaining to be paid to
              the
              Participant under the Plan may, at the Company's discretion, be reduced
              by
              setoff against the amount of such indebtedness or claim.

             

            5.8           No
              Third Party Rights.  Nothing in this Plan or any trust
              established pursuant to Section 5.2 hereof shall be construed to create
              any
              rights hereunder in favor of any person (other than the Company and
              any
              Participant) or to limit the Company's right to amend or terminate
              the Plan in
              any manner subject to Section 5.5 hereof.

             

            ARTICLE
              VI

             

            MISCELLANEOUS

             

            6.1           Nonassignability.  No
              rights or payments to any Participant shall be subject in any manner
              to
              anticipation, alienation, sale, transfer, assignment, pledge, encumbrance
              or
              charge,

          

           

          
            
               

            

            
              -
                10
                -

              
                

              

            

            
               

            

          

           

          
            whether
              voluntary or involuntary, and no attempt so to anticipate, alienate,
              sell,
              transfer, assign, pledge, encumber or charge the same shall be valid,
              nor shall
              any such benefit or payment be in any way liable for or subject to
              the debts,
              contracts, liabilities, engagements or torts of any Participant or
              subject to
              levy, garnishment, attachment, execution or other legal or equitable
              process.  No part of the amounts payable shall, prior to actual
              payment, be subject to seizure or sequestration for the payment of
              any debts,
              judgments, alimony or separate maintenance owed by a Participant, nor
              be
              transferable by operation of law in the event of a Participant's bankruptcy
              or
              insolvency.

             

            6.2           Withholding.  To
              the extent required by law the Company shall be entitled to withhold
              from any
              payments due hereunder any federal, state and local taxes required
              to be
              withheld in connection with such payment.

             

            6.3           Gender
              and Number.  Wherever appropriate herein, the masculine
              shall mean the feminine and the singular shall mean the plural or vice
              versa.

             

            6.4           Notice.  Any
              notice required or permitted to be made under the Plan shall be sufficient
              if in
              writing and hand delivered, or sent by registered or certified mail,
              to (a) in
              the case of notice to the Company or the Committee, the principal office
              of the
              Company, directed to the attention of the Secretary of the Committee,
              and (b) in
              the case of a Participant, such Participant's home or business address
              maintained in the Company's personnel records.  Such notice shall be
              deemed given as of the date of delivery or, if delivery is made by
              mail, as of
              the date shown on the postmark or on the receipt for registration or
              certification.

             

            6.5           Validity.  In
              the event any provision of this Plan is held invalid, void or unenforceable,
              the
              same shall not affect, in any respect whatsoever, the validity of any
              other
              provision of this Plan.

             

            6.6           Applicable
              Law.  This Plan shall be governed and construed in
              accordance with the laws of the State of New Jersey.

          

        

         

        
          
             

          

          
            -
              11
              -

            
              

            

          

          
             

          

        

      

    

     

    
      ARTICLE
        VII

       

      SPOUSAL
        BENEFITS

       

      In
        the event of the death of a
        participant who is at least 35 years of age at the time of his death and
        who is
        vested in accordance with the provisions of Paragraph 1.18, the surviving
        spouse
        is entitled to receive 50% of the death benefit which the participant would
        have
        been entitled to receive at the time of his death.  Such benefit shall
        be payable monthly as a straight life annuity benefit and shall be calculated
        in
        accordance with the benefit which the participant would have been entitled
        to at
        his Normal Retirement Date actuarially reduced for payment prior to such
        date.

       

      
        
           

        

        
          -
            12
            -

          
            

          

        

        
           

        

      

       

      Supplement
        A

       

    

    
      
        	
                1.1

              	
                In
                  General

              

      

       

      
        	
                (a)

              	
                As
                  of the Spin-off date, Participants transferring to Broadridge Financial
                  Solutions, Inc. (“Broadridge”) are no longer eligible to participate in
                  the Plan, except executive with employee identification number
                  100600
                  (“Executive”).

              

      

       

      
        	
                (b)

              	
                As
                  of the Spin-off date, Executive’s accrued benefit under the Plan shall be
                  the Executive’s projected accrued benefit at the age of 65 based upon
                  terms and factors agreed upon in Appendix
                  A.

              

      

       

      
        	
                (c)

              	
                If
                  Executive voluntarily terminates employment with Broadridge prior
                  to age
                  65, Executive’s accrued benefit will be re-calculated to what Executive
                  would have accrued from the Spin-off date to the last day employed
                  at
                  Broadridge.

              

      

       

      
        	
                (d)

              	
                Executive
                  will no longer be an eligible Participant of the Plan if Executive
                  becomes
                  a participant in any supplemental officers retirement plan sponsored
                  by
                  Broadridge, whose terms are substantially similar to the Plan as
                  of the
                  Spin-off date.  Such determination shall be made solely by the
                  Company.

              

      

       

      
        	
                1.2

              	
                Distributions

              

      

       

      
        	
                (a)

              	
                Executive’s
                  benefits shall commence on his 65th birthday, whether or not Executive
                  is
                  still employed at Broadridge.

              

      

       

      
        	
                (b)

              	
                Executive’s
                  elections shall be irrevocable.

              

      

       

      
        
           

        

        
          -
            13
            -

          
            

          

        

        
           

        

      

       

      
        Appendix
          A to Supplement A

         

        Agreed
          Upon Assumptions to Project the Benefits to Age 65

         

        

        1-
          Projected base pay increase of  4% to age 65

        2-
          Target
          bonus percent increase of  4% to age 65

        3-
          Average
          of the high & low of the ADP stock price on the day of the spin projected at
          8% to age 65

      

       

      
        
           

        

        
          -
            14
            -

          
            

          

        

        
           

        

      

       

      
        
          	
                   

                	
                  Supplement
                    B

                

        

         

        Notwithstanding
          anything in this Plan to the contrary, each Participant with an employee
          identification number listed below, shall receive a distribution from this
          Plan
          commencing as of the first day of the month following the attainment of
          age
          65.

         

        
          	
                   

                	
                  Employee
                    Identification Number

                

        

         

        (i)           103621

         

        (ii)          103594

         

        (iii)         103724

         

         

        
          - 15 -

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