Document:

EXHIBIT
      10.31

    

     

    

     

    
      
        

      

    

    
      AMENDMENT
        LETTER 6

      
        

      

       

    BANK
      OF SCOTLAND

     

    funding
      of

     

    $7,500,000

     

    to

     

    SIMCLAR,
      INC

     

    
      

      Edinburgh

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    
      	
              

               

            	 

    

     

    
      	 	
              1st
                Floor

              New
                Uberior House

              11
                Earl Grey Street

              Edinburgh

              EH3
                9BN

               

              For
                the attention of: Douglas Archibald

            
	 	 
	
              Simclar,
                Inc. (formerly known as Techdyne, Inc.)

              Commission
                File No. 0-14659

              2230
                West 77th Street

              Hialeah

              Florida
                33016

              United
                States of America

            	
              Telephone: 0131
                659 1204

              Fax:  0131
                659 1144

               

            

    

    25th
      March
      2008 

     

    Dear
      Sirs

     

    BANKING
      FACILITIES

     

    We
      refer
      to the agreement between ourselves and Simclar Inc. as Borrower constituted
      by
      our offer of facilities dated 2 October 2001
      and
      accepted by you on 9 October 2001 as amended by amendment letters dated 25
      July 2002, 10 November 2003, 14 October 2004, 21 December 2005 and 26 January
      2007 (the "Facility Letter") in terms of which we made available to you working
      capital facilities (the "Facilities") subject to the terms and conditions set
      out in the Facility Letter. We are writing to you to set out the terms on which
      the Facility Letter is to be amended.

     

    
      	
              1.

            	
              Definitions

            

    

     

    
      	 	
              Words
                and expressions used in this letter shall, except where the context
                otherwise requires, bear the same meaning as in the Facility
                Letter.

            

    

     

    
      	
              2.

            	
              Facilities

            

    

     

    The
      parties agree and acknowledge that on the date referred to above the Facilities
      are a working capital facility with a limit of $7,500,000.

     

    
      	
              3.

            	
              Amendments

            

    

     

    
      	
              3.1.

            	
              Subject
                to the terms of clause 4 below, of the Facility Letter shall be amended
                as
                follows:-

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (a)

            	
              in
                Clause 2.3.1 the date "28 January 2008" shall be deleted and replaced
                with
                "17 March 2009 ";

            

    

     

    
      	 	
              (b)

            	
              Clause
                3 shall be amended by (i) the deletion of the words "If the Borrower
                chooses not to utilise the option specified in clause 3.1, it may
                drawdown
                by reference to the option specified in clause 3.2"; and (ii) the
                deletion
                of the text in clauses 3.1.1 to 3.1.8 inclusive and in each case
                its
                replacement with the word
                "Deleted.";

            

    

     

    
      	 	
              (c)

            	
              Clause
                4.2 shall be amended by the deletion of "one point five per cent
                (1.5%)"
                and its replacement with "one point seven five per cent
                (1.75%)";

            

    

     

    
      	 	
              (d)

            	
              the
                definition of "BoS" included in the Schedule to the Facility Letter
                shall
                be deleted and replaced as follows:

            

    

     

    ""BoS"
      means
      Bank of Scotland plc (Company number SC327000) having its registered office
      at
      the Mound, Edinburgh, EH1 1YZ and its successors, assignees and
      transferees.";

     

    
      	 	
              (e)

            	
              the
                definition of "Default Rate" included in the Schedule to the Facility
                Letter shall be amended by the deletion of "one and a half per cent
                (1.5%)" and its replacement with "two per cent (2%)";
                

            

    

     

    
      	 	
              (f)

            	
              the
                definition of "Interest Payment Date" included in the Schedule to
                the
                Facility Letter shall be deleted;
                and

            

    

     

    
      	 	
              (g)

            	
              the
                definition of "Margin" included in the Schedule to the Facility Letter
                shall be amended by the deletion of "one and a half per cent (1.5%)"
                and
                its replacement with "one point seven five per cent
                (1.75%)".

            

    

     

    
      	
              3.2.

            	
              Except
                as herein expressly amended, the terms and conditions of the Facility
                Letter are hereby confirmed and any reference in the Facility Letter
                to
                "this letter" (or similar phrases) shall, unless the context otherwise
                requires, be read and construed as a reference to the Facility Letter
                as
                amended by this letter and all Security Documents shall continue
                to secure
                all sums due to BoS
                by
                the Borrower under the Facility Letter as hereby
                amended.

            

    

     

    
      	
              4.

            	
              Conditions
                Precedent

            

    

     

    
      	
              4.1.

            	
              Subject
                to Clause 4.2, Clause 3 shall not come into effect unless BoS
                has confirmed in writing to the Borrower
                that:-

            

    

     

    
      	 	
              (a)

            	
              BoS
                is
                satisfied that no Event of Default (as defined in the Agreement)
                has
                occurred and is continuing unwaived;

            

    

     

    
      	 	
              (b)

            	
              BoS
                has received a certificate in the form set out in the Schedule to
                this
                letter executed by the director of the Borrower;
                and

            

    

     

    
      	 	
              (c)

            	
              BoS
                has
                received from the Borrower an arrangement fee of $12,500
                .

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              4.2.

            	
              If
                BoS
                does
                not confirm to the Borrower in terms of Clause 4.1 on or prior to
                28 March
                2008 (or such other date as may be agreed in writing by BoS
                from time to time) then this letter will lapse and the amendments
                to be
                made in terms hereof will be of no
                effect.

            

    

     

    
      	
              5.

            	
              Conditions
                Subsequent

            

    

     

    
      	
              5.1.

            	
              The
                Borrower shall procure that on or prior to 28 April 2008 the following
                documents shall be provided to BoS
                in
                a form and substance satisfactory to BoS:

            

    

     

    
      	 	
              (a)

            	
              a
                reaffirmation agreement by the Borrower, Simclar (Mexico) Inc. and
                Simclar
                de Mexico SA de CV (the "Reaffirmation
                Agreement");

            

    

     

    
      	 	
              (b)

            	
              a
                legal opinion by Porter Wright or such other reputable firm of US
                lawyers
                as may be acceptable to BoS,
                addressed to BoS
                in
                relation to the Reaffirmation Agreement;
                and

            

    

     

    
      	 	
              (c)

            	
              certified
                copies of good standing certificates in relation to each of the Borrower,
                Simclar (Mexico) Inc. and Simclar de Mexico SA de
                CV.

            

    

     

    
      	
              6.

            	
              Miscellaneous

            

    

     

    
      	
              6.1.

            	
              No
                failure or delay by BoS
                in
                exercising any right or remedy under any BoS
                Document shall operate as a waiver, and no single or partial exercise
                shall prevent further exercise, of any right or
                remedy.

            

    

     

    
      	
              6.2.

            	
              If
                at any time any provision of this letter is or becomes illegal, invalid
                or
                unenforceable in any respect under any law of any jurisdiction, neither
                the legality, validity or enforceability of the remaining provisions
                nor
                the legality, validity or enforceability or such provision under
                the law
                of any other jurisdiction shall in any way be affected or
                impaired.

            

    

     

    
      	
              6.3.

            	
              The
                Schedule referred to in this letter shall form part of this
                letter.

            

    

     

    
      	
              6.4.

            	
              This
                letter is a BoS
                Document.

            

    

     

    
      	
              7.

            	
              Costs
                and Expenses

            

    

     

    The
      Borrower will pay or reimburse to BoS
      (on
      a
      full indemnity basis) all reasonable legal, accountancy, valuation, due
      diligence and other fees, costs and expenses or tax charged to or incurred
      by
BoS
      in
      connection with this letter (including the amendment, waiver, enforcement or
      preservation of the BoS
      rights)
      on demand. The Borrower authorises BoS
      to debit
      any operating account it has with BoS
      with the
      amount of any such fees, costs, expenses or tax which is payable from time
      to
      time.

     

    
      	
              8.

            	
              Law

            

    

     

    This
      letter will be governed by and construed according to Scots law and the Borrower
      submits to the jurisdiction of the Scottish Courts.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Please
      indicate your acceptance of the terms of this letter by executing and returning
      the enclosed copy.

    

    Yours
      faithfully

    

    /s/
      Douglas Archibald 
      
        

      
for
      and
      on behalf of

    BANK
      OF
      SCOTLAND PLC

     

    Agreed
      and accepted for and on behalf of

    SIMCLAR,
      INC. by

     

    
      	 	 	 	 
	/s/
              Samuel J.
              Russell 	 	 	Director
	
              

            	 	 	
            
	 	 	 	 
	/s/ John Ian Durie 
              

            	 	 	Director
	 	 	 	 
	Date
              March 27, 2008	 	 	 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

      

    This
      is the Schedule referred to in the preceding amendment letter between BoS and
      Simclar, Inc. dated
        March
      2008

    

    THE
      SCHEDULE 

     

    DIRECTOR'S
      CERTIFICATE

     

    SIMCLAR,
      INC.

     

    I,
      John
      Ian Durie, a Director of Simclar, Inc., a Florida corporation (the
“Corporation”), pursuant to that certain Facility Letter, dated as of 2nd
      October 2001 (as may be amended, modified, extended or restated from time to
      time the “Facility Letter”; all capitalized terms which are used herein but not
      otherwise defined herein shall have the meanings respectively assigned to them
      under the Facility Letter), by and among Simclar, Inc. as Borrower and Bank
      of
      Scotland plc, do hereby certify the following:

     

    
      	
              1.

            	
              Attached
                hereto as Exhibit
                A
                is
                a true, correct and complete copy of the Articles of Incorporation
                of the
                Corporation as filed with the Florida Secretary of State, together
                with
                all amendments thereto adopted through the date
                hereof.

            

    

     

    
      	
              2.

            	
              Attached
                hereto as Exhibit
                B
                is
                a true, correct; and complete copy of the Certificate of Good Standing
                of
                the Corporation dated l
                from the Secretary of State of the State of
                Florida.

            

    

     

    
      	
              3.

            	
              Attached
                hereto as Exhibit
                C
                are true and complete copies of the resolutions adopted by the Board
                of
                Directors of the Corporation by written consent, which resolutions
                authorize and approve, among other things, the execution, delivery
                and
                performance of the Facility Letter, the amendment letter dated
                l
                March 2008 amending the terms of the Facility Letter (the "Amendment
                Letter") and the other financing documents to which the Corporation
                is a
                party and all other instruments and documents to be executed and
                delivered
                on behalf of the Corporation pursuant to the Facility Letter, the
                Amendment Letter and such other financing documents, none of which
                resolutions have been amended, modified or revoked and all of which
                are in
                full force and effect on the date
                hereof.

            

    

     

    
      	
              4.

            	
              Attached
                hereto as Exhibit
                D
                is
                a true, correct and complete copy of the By-laws of the Corporation.
                Such
                By-laws have not been amended, modified, supplemented or rescinded
                and are
                in full force and effect on and as of the date
                hereof.

            

    

     

    
      	
              5.

            	
              The
                persons named below have been duly elected and have duly qualified
                as, and
                on this day are, officers of the Corporation and hold the offices
                set
                forth opposite their names below, and the signatures set forth opposite
                their names below are their genuine
                signatures:

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

      

    
      
        
          	Name	 	Title	 	Signature
	John Ian Durie	 	Director	 	/s/
                  John Ian Durie
	 	 	 	 	 
	Samuel John Russell 	 	Chief Executive Officer 	 	/s/ Samuel John
                  Russell

        

      

        

    

     

    IN
      WITNESS WHEREOF, I have signed this Certificate this 25th day
      of March,
      2008.
      SIMCLAR, INC.

     

    By:
      /s/
      John Ian Durie

     

    Name: John
      Ian
      Durie

     

    Title: Director

     

    I,
      Samuel
      John Russell, the Chief Executive Officer of the Corporation, do hereby certify
      that John Ian Durie has been duly elected and has duly qualified as, and on
      this
      day is, a Director of the Corporation and the signature above is his genuine
      signature.

     

    IN
      WITNESS WHEREOF, I have signed this Certificate this 25th
      day of
      March,
      2008.

     

     

    SIMCLAR,
      INC.

     

    By:
      /s/
      Samuel John Russell

     

    Name:
      Samuel John RussellUnassociated Document

    Execution
      Copy

     

     

    

      Exhibit
        10.69

      Rubio’s
        Restaurants, Inc.

       

      Deferred
        Compensation Plan

       

      Effective
        December 1, 2007

       

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

        TABLE
          OF CONTENTS

        

        

          
            	 	
                    Page

                  
	
                    ARTICLE
                      1. ESTABLISHMENT AND PURPOSE

                  	
                    1

                  
	 	 
	
                    ARTICLE
                      2. DEFINITIONS

                  	
                    1

                  
	 	 
	
                    ARTICLE
                      3. ELIGIBILITY AND PARTICIPATION

                  	
                    8

                  
	 	 
	
                    ARTICLE
                      4. DEFERRAL ELECTIONS

                  	
                    9

                  
	 	 
	
                    ARTICLE
                      5. COMPANY CONTRIBUTIONS

                  	
                    12

                  
	 	 
	
                    ARTICLE
                      6. VALUATION OF ACCOUNTS; DEEMED INVESTMENTS

                  	
                    13

                  
	 	 
	
                    ARTICLE
                      7. DISTRIBUTION AND WITHDRAWALS

                  	
                    14

                  
	 	 
	
                    ARTICLE
                      8. ADMINISTRATION

                  	
                    16

                  
	 	 
	
                    ARTICLE
                      9. AMENDMENT AND TERMINATION

                  	
                    18

                  
	 	 
	
                    ARTICLE
                      10. INFORMAL FUNDING

                  	
                    19

                  
	 	 
	
                    ARTICLE
                      11. CLAIMS

                  	
                    19

                  
	 	 
	
                    ARTICLE
                      12. GENERAL CONDITIONS

                  	
                    22

                  

          

        

         

        
          
            
              i

            

            
            

          

          
            
            

            
              

            

          

          
            
            

            
            

          

        

        

          

          ARTICLE
            1. Establishment
            and Purpose

          

          The
            purpose of this Plan is to provide a select group of management or highly
            compensated employees and non-employee members of the Board of Rubio’s
            Restaurants, Inc., a
            Delaware corporation and its affiliates or subsidiaries, if any, with
            the
            opportunity to defer a portion of their compensation and to receive
            contributions from their employers. The Plan is not intended to meet
            the
            qualification requirements of Section 401(a) of the Code, but is intended
            to
            meet the requirements of the Act, including Code Section 409A, and to
            be an
            unfunded arrangement providing deferred compensation to Eligible Employees
            who
            are part of a select group of management or highly compensated employees
            of
            Participating Employers within the meaning of Sections 201, 301 and 401
            of
            ERISA. The Plan is intended to be exempt from the requirements of Parts
            2, 3 and
            4 of Title I of ERISA as a "top hat" plan, and to be eligible for the
            alternative method of compliance for reporting and disclosure available
            for
            unfunded "top hat" plans.

          

          

          

          ARTICLE
            2. Definitions

          

          
            	
                    2.1

                  	
                    Account.
                      Account means a bookkeeping account maintained by the Plan
                      Administrator
                      to record deferrals allocated to it by the Participant, Company
                      Contributions (if any), Deemed Investments, distributions,
                      and such other
                      transactions, if any, that may be required to properly administer
                      the
                      Plan. An Account shall be utilized solely as a device for the
                      measurement
                      of the value of the Account Balance to be paid by a Participating
                      Employer
                      to a Participant under the Plan. The Account shall not constitute
                      or be
                      treated as an escrow, trust fund, or any other type of funded
                      account for
                      Code or ERISA purposes and amounts credited thereto shall not
                      be
                      considered “plan assets” for federal income tax or ERISA
                      purposes.

                  

          

          

          
            	
                    2.2

                  	
                    Account
                      Balance.
                      Account Balance means, with respect to the Deferred Compensation
                      Account
                      or any component Account, the value of such Account as of the
                      most recent
                      Valuation Date.

                  

          

          

          
            	
                    2.3

                  	
                    Act.
                      Act means the American Jobs Creation Act of 2004, as amended,
                      including
                      Code Section 409A, Notice 2005-1, and the final regulations
                      issued April
                      10, 2007.

                  

          

          

          
            	
                    2.4

                  	
                    Allocation
                      Election.
                      Allocation Election means a choice by a Participant of one
                      or more
                      Investment Options, and the allocation among them, in which
                      future
                      Participant deferrals and/or existing Account Balances are
                      Deemed Invested
                      for purposes of determining earnings in a particular
                      Account.

                  

          

          

          
            	
                    2.5

                  	
                    Beneficiary.
                      Beneficiary means a natural person, estate, or trust designated
                      by a
                      Participant to receive benefits to which a Beneficiary is entitled
                      in
                      accordance with the provisions of the Plan. The Participant’s spouse, if
                      living, otherwise the Participant’s estate, shall be the Beneficiary
                      if:

                  

          

           

          
            
              
              

            

            
              1

              
                

              

            

            
              
              

            

          

           

          
            	 	
                    a.

                  	
                    the
                      Participant has not designated a natural person or trust as
                      Beneficiary,
                      or

                  

          

          
            	 	
                    b.

                  	
                    the
                      designated Beneficiary(ies) has/have all predeceased the
                      Participant.

                  

          

          

          
            	
                    2.6

                  	
                    Business
                      Day.
                      A
                      Business Day is each day on which the New York Stock Exchange
                      is open for
                      business.

                  

          

          

          
            	
                    2.7

                  	
                    Change
                      in Control.
                      Change of Control occurs on the date on which there is (a)
                      a change in the
                      ownership of the Company, (b) a change in the effective control
                      of the
                      Company or (c) a change in the ownership of a substantial portion
                      of the
                      Company’s assets. For purposes of this Section, a change in ownership
                      of
                      the Company occurs on the date on which any one person or more
                      than one
                      person acting as a group acquires ownership of stock of the
                      Company that,
                      together with stock held by such person or group constitutes
                      more than 50%
                      of the total fair market value or total voting power of the
                      stock of the
                      Company. A change in the effective control of the Company occurs
                      on the
                      date on which either (i) a person or more than one person acting
                      as a
                      group acquires ownership of stock of the Company possessing
                      51% or more of
                      the total voting power of the stock of the Company or (ii)
                      a majority of
                      members of the Company’s board of directors is replaced during any
                      12-month period by directors whose appointment or election
                      is not endorsed
                      by a majority of the members of the Company’s board of directors prior to
                      the date of the appointment or election. A change in the ownership
                      of a
                      substantial portion of assets occurs on the date on which any
                      one person
                      or more than one person acting as a group acquires assets from
                      the Company
                      that have a total gross fair market value equal to or more
                      than 51% of the
                      total gross fair market value of all of the assets of the Company
                      immediately prior to such acquisition or acquisitions. The
                      determination
                      as to the occurrence of a Change in Control shall be based
                      on objective
                      facts and in accordance with the requirements of Notice 2005-1
                      and
                      subsequent Treasury guidance.

                  

          

          

          
            	
                    2.8

                  	
                    Code.
                      Code means the Internal Revenue Code of 1986, as amended from
                      time to
                      time. 

                  

          

          

          
            	
                    2.9

                  	
                    Committee.
                      Committee means the Deferred Compensation Committee of the
                      Board of
                      Directors of the Company, or such individuals appointed by
                      the Board of
                      Directors to act as the Deferred Compensation Plan Committee
                      with duties
                      and responsibilities to administer the Plan and to make such
                      other
                      discretionary decisions as are relegated to the Committee
                      herein.

                  

          

          

          
            	
                    2.10

                  	
                    Company.
                      Company means Rubio’s Restaurants, Inc.

                  

          

          

          
            	
                    2.11

                  	
                    Company
                      Discretionary Contribution.
                      Company Discretionary Contribution means a Company Contribution
                      made in
                      the sole discretion of a Participating Employer in accordance
                      with Section
                      5.1 of the Plan.

                  

          

          

          
            	
                    2.12

                  	
                    Compensation.
                      Compensation means, for purposes of this Plan, base salary
                      (including any
                      deferred salary under a Code Section 401(k) or 125 plan), bonus,
                      commission, and such other cash or equity-based compensation
                      (if any)
                      approved by the Plan Administrator as Compensation for purposes
                      of this
                      Plan. Compensation shall not include payroll deductions pursuant
                      to any
                      other employee benefit plan or any contract or arrangement
                      between the
                      Participant and the Participating Employer or any deduction
                      required by
                      law or court order.

                  

          

           

          
            
              
              

            

            
              2

              
                

              

            

            
              
              

            

          

          
 

          
            	
                    2.13

                  	
                    Compensation
                      Deferral Agreement.
                      Compensation Deferral Agreement means an agreement submitted
                      to the Plan
                      Administrator in which a Participant makes an initial deferral
                      election
                      under the Act, including:(a) making an election to defer Compensation
                      in
                      accordance with Section 4.1, (b) designating a payment date(s)
                      or event(s)
                      which is/are permissible under the Act, and (c) specifying
                      a Payment
                      Schedule with respect to distributions from the Plan. In the
                      discretion of
                      the Plan Administrator, a Compensation Deferral Agreement may
                      also be used
                      to make an Allocation Election and/or to make subsequent deferral
                      elections in accordance with the Act. Unless otherwise provided
                      in Section
                      4.1 hereof, a Compensation Deferral Agreement remains in effect
                      from Plan
                      Year to Plan Year until modified in accordance with the Plan.
                      Notwithstanding the foregoing, and subject to the provisions
                      of Section
                      3.3, the Plan Administrator may modify a Participant’s Compensation
                      Deferral Agreement at any time as necessary (and only as necessary)
                      to
                      conform the Compensation Deferral Agreement and the Plan to
                      applicable
                      law. 

                  

          

          

          
            	
                    2.14

                  	
                    Death
                      Benefit.
                      Death Benefit shall mean a distribution of the total amount
                      of the
                      Participant's Deferred Compensation Account Balance, including
                      any
                      remaining unpaid In Service Account balances, to the Participant's
                      Beneficiary(ies) in accordance with Article VII of the
                      Plan.

                  

          

          

          
            	
                    2.15

                  	
                    Deemed
                      Investment.
                      A
                      Deemed Investment means the conversion of a dollar amount of
                      deferred
                      Compensation and Company Contributions (if any) credited to
                      a
                      Participant’s Deferred Compensation Account into notional shares or units
                      or ownership (or a fraction of such measures of ownership,
                      if applicable)
                      of a security (e.g. mutual fund, company stock, or other investment)
                      which
                      is referred to by the Investment Option(s) selected by the
                      Participant.
                      The conversion shall occur as if shares (or units) of the designated
                      investment were being purchased (or sold, in the case of a
                      distribution)
                      at the purchase price as of the close of business of the day
                      on which the
                      Deemed Investment occurs. At no time shall a Participant have
                      any real or
                      beneficial ownership in the actual security to which the Investment
                      Option
                      refers, irrespective of whether such a Deemed Investment is
                      mirrored by an
                      actual identical investment by the Company or a trustee acting
                      on behalf
                      of the Company. 

                  

          

          

          
            	
                    2.16

                  	
                    Deferred
                      Compensation Account.
                      Deferred Compensation Account means the Account maintained
                      by the Plan
                      Administrator that records the total amount of liability of
                      a
                      Participating Employer to the Participants it employs at any
                      point in
                      time, and includes all unpaid In Service Accounts, the
                      Retirement/Termination Account, Previously Elected Distribution
                      Accounts,
                      and any other Account maintained by the Plan Administrator
                      (e.g. a
                      separate Company Contribution Account) to properly administer
                      the
                      Plan.

                  

          

          

          
            	
                    2.17

                  	
                    Directors.
                      Directors means non-employee members of the Board of Directors
                      of the
                      Company.

                  

          

          

          
            
              
              

            

            
              3

              
                

              

            

            
              
              

            

             

          

          
            	
                    2.18

                  	
                    Directors’
                      Fees.
                      Directors’ Fees means retainers, meeting fees, and any other cash
                      remuneration paid by the company for services as a member of
                      the Board of
                      Directors.

                  

          

          

          
            	
                    2.19

                  	
                    Disability.
                      Disability means that a Participant (a) is unable to engage
                      in any
                      substantial gainful activity by reason of any medically determinable
                      physical or mental impairment which can be expected to result
                      in death or
                      can be expected to last for a continuous period of not less
                      than 12
                      months, or (b) is, by reason of any medically determinable
                      physical or
                      mental impairment which can be expected to result in death
                      or can be
                      expected to last for a continuous period of not less than 12
                      months,
                      receiving income replacement benefits for a period of not less
                      than 3
                      months under an accident and health plan covering employees
                      of the
                      Participant’s employer. The determination of the existence of a Disability
                      shall be made by the Plan Administrator in accordance with
                      the
                      Act.

                  

          

          

          
            	
                    2.20

                  	
                    Disability
                      Benefit.
                      Disability Benefit means payment by a Participating Employer
                      to a
                      Participant of the Deferred Compensation Account Balance, including
                      any
                      remaining unpaid In Service Account balances, due to the Participant’s
                      Disability. 

                  

          

          

          
            	
                    2.21

                  	
                    Effective
                      Date.
                      Effective Date means December 1, 2007.

                  

          

          

          
            	
                    2.22

                  	
                    Eligible
                      Employee.
                      Eligible Employee means an Employee of a Participating Employer
                      who is
                      selected by the Committee based on his job classification and
                      compensation
                      to be eligible to participate in the Plan and who is part of
                      a select
                      group of management or highly compensated employees of the
                      Company or a
                      Participating Employer within the meaning of Sections 201(2),
                      301(a)(3)
                      and 401(a)(1) of ERISA.

                  

          

          

          
            	
                    2.23

                  	
                    Employee.
                      Employee means a full-time salaried employee of a Participating
                      Employer.

                  

          

          

          
            	
                    2.24

                  	
                    ERISA.
                      ERISA means the Employee Retirement Income Security Act of
                      1974, as
                      amended from time to time.

                  

          

          

          
            	
                    2.25

                  	
                    In
                      Service Distribution.
                      In Service Distribution means a payment by a Participating
                      Employer to a
                      Participant from an In Service Account on or after the In Service
                      Distribution Date. 

                  

          

          

          
            	
                    2.26

                  	
                    In
                      Service Account.
                      In Service Account means each Account established pursuant
                      to Section 4.6
                      to identify the portion of a Participant’s Deferred Compensation Account
                      to be paid on each In Service Distribution Date. Each In Service
                      Account
                      shall be credited with deferrals as specified in the Participant’s
                      Compensation Deferral Agreements, plus earnings on Deemed Investments
                      in
                      accordance with such Participant’s Allocation Election. Unless otherwise
                      specified by the Plan Administrator on the Compensation Deferral
                      Agreement, a Participant may have a maximum of five (5) In
                      Service
                      Accounts with Balances greater than zero at any given time
                      (or such other
                      maximum amount as determined by the Plan Administrator). A
                      single In
                      Service Account shall be maintained with respect to each In
                      Service
                      Distribution Date and all elections with respect thereto shall
                      apply to
                      the entire In Service Account
                      Balance.

                  

          

          

          
            
              
              

            

            
              4

              
                

              

            

            
              
              

            

             

          

          
            	
                    2.27

                  	
                    In
                      Service Distribution Date.
                      In Service Distribution Date means the date on which payments
                      of an In
                      Service Account Balance will commence in accordance with a
                      Payment
                      Schedule.

                  

          

          

          
            	
                    2.28

                  	
                    Investment
                      Option.
                      Investment Option means a notional security such as a mutual
                      fund, life
                      insurance policy separate account, company stock, or other
                      investment
                      approved by the Plan Administrator for use as part of an Investment
                      Option
                      menu, which a Participant may elect as a measuring device to
                      determine
                      Deemed Investment earnings (positive or negative) to be valued
                      in the
                      Participant's Account(s). The Participant has no real or beneficial
                      ownership in the security or other investment represented by
                      the
                      Investment Option.

                  

          

          

          
            	
                    2.29

                  	
                    Participant.
                      Participant means a Director or an Eligible Employee employed
                      by a
                      Participating Employer who: (a) has elected to defer Compensation
                      in
                      accordance with the Plan; (b) has received a Company Contribution;
                      or (c)
                      has a Deferred Compensation Account Balance greater than zero,
                      regardless
                      of whether the Participant is employed by a Participating Employer
                      or
                      continues to provide services as a Director. A Participant’s continued
                      participation in the Plan shall be governed by Section 3.2
                      of the Plan.
                      

                  

          

          

          
            	
                    2.30

                  	
                    Participating
                      Employer.
                      Participating Employer means the Company and any subsidiary
                      or affiliate
                      of the Company that has adopted the Plan and that assumes exclusive
                      responsibility for payment of benefits to its employees who
                      are
                      Participants in accordance with the terms of the Plan. A Participating
                      Employer’s liabilities under this Plan shall be limited to the benefit
                      obligations owed to its employees and shall not extend to the
                      obligations
                      owed to employees of any other Participating Employer arising
                      hereunder.

                  

          

          

          
            	
                    2.31

                  	
                    Payment
                      Schedule.
                      Payment Schedule means the form of payment for a distribution
                      under the
                      Plan. Unless otherwise indicated by the Plan Administrator
                      on the
                      Compensation Deferral Agreement, the Retirement Benefit of
                      a Participant
                      may be paid (a) in a lump sum between 0% and 100% of the Participant’s
                      Deferred Compensation Account and (b) the balance, if any,
                      in annual
                      installments from two (2) to fifteen (15) years. In the event
                      a
                      Participant elects a lump sum payment less than 100% of the
                      Deferred
                      Compensation Account Balance (a “partial lump sum”), the “partial lump
                      sum” shall at all times with respect to the amounts deferred be
                      treated as
                      a separate payment, and the installment payments for the balance
                      of the
                      Deferred Compensation Account Balance shall, at all times with
                      respect to
                      the amounts deferred, be treated as a single separate payment.
                      An In
                      Service Account may be paid (c) in a lump sum equal to 100%
                      of the In
                      Service Account Balance or (d) in annual installments from
                      two (2) to five
                      (5) years.

                  

          

          

          
            	
                    2.32

                  	
                    Performance-Based
                      Compensation.
                      Performance-Based Compensation means Compensation based on
                      services
                      performed over a period of not less than twelve months and
                      which meets the
                      following requirements: (a) the payment of the Compensation
                      or the amount
                      of the Compensation is contingent upon the satisfaction of
                      pre-established
                      organizational or individual performance criteria; and (b)
                      the performance
                      criteria are not substantially certain to be met at the time
                      a
                      Compensation Deferral Agreement is submitted to the Plan Administrator.
                      For purposes hereof, “pre-established organizational or individual
                      performance criteria” shall mean criteria which are established in writing
                      by not later than ninety (90) days after the commencement of
                      the period of
                      service to which the criteria relates, provided that the outcome
                      is
                      substantially uncertain at the time the criteria are established.
                      Performance criteria may be subjective but must relate to the
                      performance
                      of the Participant, a group of Employees that includes the
                      Participant or
                      a business unit (which may include the Company) for which the
                      Participant
                      provides services. The determination that any subjective performance
                      criteria have been met shall not be made by the Participant
                      or by a family
                      member of the Participant. Performance-Based Compensation does
                      not include
                      any amount or portion of any amount that will be paid regardless
                      of
                      performance or which is based on a level of performance that
                      is
                      substantially certain to be met at the time the criteria is
                      established.

                  

          

          

          
            
              
              

            

            
              5

              
                

              

            

            
              
              

            

             

          

          
            	
                    2.33

                  	
                    Plan.
                      Plan means the Rubio’s Restaurants, Inc. Deferred Compensation Plan, as it
                      may be amended from time to time
                      hereafter.

                  

          

          

          
            	
                    2.34

                  	
                    Plan
                      Administrator.
                      Except as provided in Article VIII hereof, Plan Administrator
                      means the
                      individual or individuals appointed by the Committee. The Plan
                      Administrator is responsible for such recordkeeping and other
                      administrative responsibilities delegated to it by the Committee
                      and as
                      are specified under the Plan.

                  

          

          

          
            	
                    2.35

                  	
                    Plan
                      Year.
                      Plan Year means January 1 through December
                      31.

                  

          

          

          
            	
                    2.36

                  	
                    Retirement.
                      Retirement shall mean the voluntary Separation from Service
                      with a
                      Participating Employer after reaching age 65, or after reaching
                      age 55
                      with at least ten (10) Years of Service with the Company (including
                      all
                      Participating Employers). Retirement shall also mean resignation
                      as a
                      Director. 

                  

          

          

          
            	
                    2.37

                  	
                    Retirement/Termination
                      Account.
                      Retirement/Termination Account shall mean, prior to the payment
                      of a
                      Retirement or Termination Benefit, that portion of the Deferred
                      Compensation Account not allocated to In Service Accounts.
                      Unless
                      otherwise provided by the Plan Administrator, the Retirement/Termination
                      Account shall be maintained as a single Account and all elections
                      with
                      respect thereto (other than an Allocation Election) shall apply
                      to the
                      entire Retirement/Termination Account
                      Balance.

                  

          

          

          
            	
                    2.38

                  	
                    Retirement
                      Benefit.
                      Retirement Benefit shall mean a payment by the Company of a
                      Participant’s
                      Deferred Compensation Account Balance (including all unpaid
                      In Service
                      Account Balances) to the Participant upon such Participant’s Retirement,
                      in accordance with the Participant's Payment Schedule election
                      or as
                      otherwise specified in Article V of the
                      Plan.

                  

          

          

          
            	
                    2.39

                  	
                    Separation
                      from Service. Separation
                      from Service shall mean that a Participant has died, retired
                      or otherwise
                      has incurred a “termination of employment.” A Participant will not incur a
                      Separation from Service while he 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 the individual
                      retains a right
                      to reemployment under an applicable statute or contract. A
                      leave of
                      absence constitutes a bona fide leave of absence only if there
                      is a
                      reasonable expectation that the Participant will return to
                      perform
                      services. Notwithstanding the foregoing, where a leave of absence
                      is due
                      to any medically determinable physical or mental impairment
                      that can be
                      expected to result in death or can be expected to last for
                      a continuous
                      period of not less than six months, where such impairment causes
                      the
                      Participant to be unable to perform the duties of his position
                      of
                      employment or any substantially similar position of employment,
                      a 29 month
                      period of absence is substituted for such six month period.
                      Notwithstanding the above, no Separation from Service shall
                      be deemed to
                      have occurred for purposes of this Plan if a Participant transfers
                      to the
                      employ of a Participating Employer immediately after (a) terminating
                      employment with another Participating Employer or (b) within
                      30 days
                      following the date on which the Participant’s employer who is a
                      Participating Employer has a Change of
                      Control.

                  

          

          

          
            
              
              

            

            
              6

              
                

              

            

            
              
              

            

             

          

          
            	
                    2.40

                  	
                    “Termination
                      of employment”
                      means that it is reasonably anticipated based on the facts
                      and
                      circumstances that an employee will perform no further services
                      after a
                      certain date or that the level of bona fide services he would
                      perform
                      after such date (whether as an employee or an independent contractor)
                      would permanently decrease to no more than 20 percent of the
                      average level
                      of bona fide services performed (whether as an employee or
                      an independent
                      contractor) over the immediately preceding 36 month period
                      (or the full
                      period of services if the Participant has been providing services
                      for less
                      than 36 months). A Participant is presumed to have incurred
                      a Separation
                      from Service when the level of bona fide services performed
                      decreases to a
                      level equal to 20 percent or less of the average level of services
                      performed by him during the immediately preceding 36 month
                      period.

                  

          

          

          
            	
                    2.41

                  	
                    Termination
                      Benefit.
                      Termination Benefit shall mean a payment by the appropriate
                      Participating
                      Employer of a Participant’s Deferred Compensation Account Balance
                      (including all unpaid In Service Account Balances) upon Separation
                      from
                      Service with a Participating Employer for a reason other than
                      Retirement
                      or death, as specified in Article V of the
                      Plan.

                  

          

          

          
            	
                    2.42

                  	
                    Unforeseeable
                      Emergency.
                      An unforeseeable emergency is a severe financial hardship to
                      the
                      Participant resulting from a sudden and unexpected illness
                      or accident of
                      the Participant or of a dependent (as defined in Code Section
                      152(a)) of
                      the Participant, loss of the Participant's property due to
                      casualty, or
                      other similar extraordinary and unforeseeable circumstances
                      arising as a
                      result of events beyond the control of the Participant, as
                      defined in Reg.
                      1.457-2(h)(4) and Treasury regulations issued under the Act.
                      The Plan
                      Administrator, in its sole discretion and subject to the requirements
                      of
                      the Act, shall determine whether a Participant has experienced
                      an
                      unforeseeable emergency.

                  

          

          

          
            	
                    2.43

                  	
                    Valuation
                      Date.
                      Valuation Date shall mean each Business Day except as specified
                      below. The
                      Valuation Date for a Retirement Benefit and for a Termination
                      Benefit
                      shall be the last day of the month in which the Participant’s Separation
                      from Service occurs. In the case of a Retirement or Termination
                      Benefit
                      payable to a “key employee” described in Section 7.2, the Valuation Date
                      shall be the last day of the month following the date which
                      is six months
                      following such Participant’s Separation from Service. The Valuation Date
                      for an In Service Distribution shall be the last day of the
                      month in which
                      the In Service Distribution Date occurs. The Valuation Date
                      for a
                      Disability Benefit shall be the last Business Day of the month
                      in which
                      the Plan Administrator determines that the Participant is Disabled.
                      The
                      Valuation Date for a Death Benefit is the last day of the month
                      in which
                      the Participant's death occurs. For purposes of calculating
                      the amount of
                      an installment payment, the Valuation Date is the anniversary
                      of the
                      Valuation Date on which such installment payments
                      commenced.

                  

          

          

          
            
              
              

            

            
              7

              
                

              

            

            
              
              

            

             

          

          
            	
                    2.44

                  	
                    Years
                      of Plan Participation.
                      Years of Plan Participation shall mean the total number of
                      full Plan Years
                      a Participants has been a Participant in the Plan prior to
                      his or her
                      Separation from Service (determined without regard to whether
                      deferral
                      election have been made by the Participant for any Plan Year).
                      Any partial
                      year shall not be counted. Notwithstanding the previous sentence,
                      a
                      Participant’s first Plan Year of participation shall be treated as a full
                      Plan Year for purposes of this definition, even if it is only
                      a partial
                      Plan Year of participation. 

                  

          

          

          
            	
                    2.45

                  	
                    Year
                      of Service.
                      Year of Service shall be computed in the same manner as provided
                      under the
                      Company’s tax-qualified profit sharing or 401(k) arrangement. If more
                      than
                      one such arrangement exists, the Company shall identify the
                      appropriate
                      plan document or documents for the determination of Years of
                      Service.
                      

                  

          

          

          

          

          ARTICLE
            3. Eligibility
            and Participation

          

          

          
            	
                    3.1

                  	
                    Eligibility
                      and Participation.
                      Each Director and Eligible Employee shall be eligible to participate
                      in
                      this Plan. A Director or an Eligible Employee becomes a Participant
                      upon
                      submission of a Compensation Deferral Agreement to the Plan
                      Administrator.

                  

          

          

          
            	
                    3.2

                  	
                    Duration.
                      A
                      Participant shall be eligible to defer Compensation and receive
                      allocations of Company Contributions subject to the terms of
                      the Plan as
                      long as such Participant is an Eligible Employee or a Director.
                      A
                      Participant who is no longer an Eligible Employee but continues
                      to be
                      employed by a Participating Employer may not defer Compensation
                      subject to
                      the Act’s prohibition on accelerated payments but may otherwise exercise
                      all of the rights of a Participant under the Plan with respect
                      to his or
                      her Deferred Compensation Account. On and after a Separation
                      from Service,
                      a Participant shall remain a Participant as long as his or
                      her Deferred
                      Compensation Account is greater than zero and during such time
                      may
                      continue to make Allocation Elections. An individual shall
                      cease
                      participation in the Plan when all benefits under the Plan
                      to which he or
                      she is entitled have been paid.

                  

          

          

          
            	
                    3.3

                  	
                    Revocation
                      of Future Participation.
                      Notwithstanding the provisions of Section 3.2, the Committee
                      may, in its
                      discretion, revoke such Participant’s eligibility to make future deferrals
                      under this Plan. Such revocation will not affect in any manner
                      a
                      Participant’s Deferred Compensation Account or other terms of this
                      Plan.

                  

          

          

          
            
              
              

            

            
              8

              
                

              

            

            
              
              

            

             

          

          
            	
                    3.4

                  	
                    Notification.
                      Each newly eligible Director and each newly Eligible Employee
                      shall be
                      notified by the Plan Administrator, in writing, of his or her
                      eligibility
                      to participate in this Plan.

                  

          

          

          

          

          ARTICLE
            4. Deferral
            Elections

          

          

          
            	
                    4.1

                  	
                    Deferral
                      Elections. A
                      Participant shall make deferral elections by completing and
                      submitting to
                      the Plan Administrator the Compensation Deferral Agreement
                      which shall
                      specify the deferral, investment and distribution information
                      as described
                      in this Article IV.

                  

          

          

          
            	
                    4.2

                  	
                    Time
                      of Election.

                  

          

          

          
            	 	
                    a.

                  	
                    Initial
                      Eligibility.
                      In the case of the Plan Year in which an Employee first becomes
                      an
                      Eligible Employee, a Compensation Deferral Agreement that defers
                      Compensation with respect to services to be performed in such
                      Plan Year
                      and subsequent to the election must be submitted to the Plan
                      Administrator
                      within thirty (30) days after such Eligible Employee receives
                      the notice
                      described in Section 3.4. In the case of compensation that
                      is earned based
                      upon a specified performance period (for example, an annual
                      bonus), where
                      a deferral election is made in the first year of eligibility
                      but after the
                      beginning of the service period, the election will apply to
                      the portion of
                      the compensation equal to the total amount of the compensation
                      for the
                      service period multiplied by the ratio of the number of days
                      remaining in
                      the performance period after the election over the total number
                      of days in
                      the performance period.

                  

          

          

          
            	 	
                    b.

                  	
                    Subsequent
                      Plan Years.
                      For any subsequent Plan Year, the Compensation Deferral Agreement
                      containing the election to defer Compensation for services
                      performed
                      during such Plan Year must be submitted to the Plan Administrator
                      no later
                      than the close of the preceding Plan
                      Year.

                  

          

          

          
            	 	
                    c.

                  	
                    Performance-Based
                      Compensation.
                      A
                      Compensation Deferral Agreement containing an election to defer
                      Performance-Based Compensation must be submitted to the Plan
                      Administrator
                      no later than six (6) months prior to the end of the period
                      in which the
                      services are performed and in accordance with the Act. Any
                      such election
                      shall only be effective if the Participant has performed services
                      for the
                      Company or a Participating Company, as applicable, continuously
                      from the
                      from the later of the beginning of the performance period or
                      the date upon
                      which the performance criteria are established through the
                      date upon which
                      the Participant makes the election and if the election is filed
                      before the
                      amount of such performance-based compensation is readily ascertainable.
                      Notwithstanding the previous sentence, if a portion of such
                      performance-based compensation is readily ascertainable when
                      the
                      Participant submits his election, such election shall only
                      apply to the
                      portion of the award that is not yet
                      ascertainable.

                  

          

          

          
            
              
              

            

            
              9

              
                

              

            

            
              
              

            

             

          

          
            	
                    4.3

                  	
                    Amount
                      of Deferral.
                      The deferral election under a Compensation Deferral Agreement
                      shall
                      designate a dollar amount or whole percentage of Compensation
                      to be
                      deferred. The Plan Administrator may establish a minimum or
                      maximum
                      deferral amount for each component of Compensation and may
                      permit separate
                      elections for each component of Compensation. Unless otherwise
                      specified
                      by the Plan Administrator in the Compensation Deferral Agreement,
                      Participants may defer up to 80% of their base salary and up
                      to 100% of
                      all other Compensation for a Plan Year.

                  

          

          

          
            	
                    4.4

                  	
                    Changes
                      To A Deferral Election.

                  

          

          

          
            	 	
                    a.

                  	
                    Right
                      to Modify Prospectively.
                      An election to defer Compensation applies to the Plan Year
                      specified in
                      the Compensation Deferral Agreement and remains in effect for
                      each
                      subsequent Plan Year until modified or revoked. A Participant
                      may modify
                      or revoke an election to defer Compensation during any enrollment
                      period
                      or other time designated by the Plan Administrator. A modification
                      or
                      revocation of an election to defer Compensation will be effective
                      beginning on the first day of the Plan Year following the Plan
                      Year during
                      which the modification or revocation of the deferral election
                      was made.
                      

                  

          

          

          
            	 	
                    b.

                  	
                    Performance-Based
                      and Fiscal Year Compensation.
                      An election to defer Performance-Based Compensation and/or
                      Fiscal Year
                      Compensation applies to the service period specified in the
                      Compensation
                      Deferral Agreement and remains in effect for future Performance-Based
                      Compensation and/or Fiscal Year Compensation which is based
                      upon the same
                      service period in subsequent Plan Years (or fiscal years, if
                      appropriate)
                      until modified or revoked during an enrollment period designated
                      by the
                      Plan Administrator. A modification or revocation will apply
                      prospectively
                      to the Performance-Based Compensation and/or Fiscal Year Compensation
                      described in the enrollment
                      materials.

                  

          

          

          
            	 	
                    c.

                  	
                    Unforeseeable
                      Emergency.
                      A
                      Participant may revoke an election to defer Compensation during
                      the Plan
                      Year in which such Compensation is earned (or, in the case
                      of
                      Performance-Based Compensation and/or Fiscal Year Compensation,
                      after the
                      deadline specified in the enrollment materials) only in the
                      case of an
                      Unforeseeable Emergency and with the consent of the Plan Administrator
                      in
                      its sole discretion.

                  

          

          

          
            	
                    4.5

                  	
                    Allocation
                      Elections.
                      A
                      Participant’s Deferred Compensation Agreement may also specify the
                      Investment Options in which deferrals will be deemed to be
                      invested in
                      accordance with Section 6.2.

                  

          

          

          
            	
                    4.6

                  	
                    In
                      Service Distributions.
                      

                  

          

           

          
            	 	
                    a.

                  	
                    Initial
                      Election.
                      A
                      Participant’s Compensation Deferral Agreement may designate In Service
                      Distribution Date(s). The Plan Administrator shall create an
                      In Service
                      Account for each In Service Distribution Date to be credited
                      with the
                      portion of deferred Compensation designated under the Compensation
                      Deferral Agreement. In order for any portion of a deferral
                      to be credited
                      to an In Service Account, the In Service Distribution Date
                      must be
                      specified no later than the applicable submission deadline
                      described in
                      Section 4.2 for the Compensation Deferral Agreement under which
                      the
                      deferral is made. Any portion of a deferral not designated
                      for an In
                      Service Distribution will be credited to the Retirement/Termination
                      Account. Unless otherwise specified by the Plan Administrator
                      on the
                      Compensation Deferral Agreement, a newly established In Service
                      Distribution Date may be no earlier than two (2) years following
                      the end
                      of the Plan Year during which Compensation will first be credited
                      to the
                      newly created In Service Account.

                  

          

          

          
            
              
              

            

            
              10

              
                

              

            

            
              
              

            

             

          

          
            	 	
                    b.

                  	
                    Modification.
                      The Participant may modify an In Service Distribution Date
                      or Previously
                      Elected Distribution date, provided: (i) the request to modify
                      is
                      submitted to the Plan Administrator at least twelve (12) months
                      prior to
                      the existing In Service Distribution Date; and (ii) the modified
                      In
                      Service Distribution Date occurs no earlier than five (5) years
                      following
                      the In Service Distribution Date or Previously Elected Distribution
                      date
                      which is being modified. In Service Distribution Dates may
                      not be
                      accelerated. The election to modify an In Service Distribution
                      Date is
                      specific to the In Service Account to which it refers, and
                      shall not
                      affect other In Service Accounts (except to the extent the
                      change results
                      in two In Service Accounts with the same In Service Distribution
                      Date, in
                      which case the Accounts are merged) or the ability of the Participant
                      to
                      designate new In Service Distribution Dates with respect to
                      future
                      Compensation deferrals. The modification of an In Service Distribution
                      Date shall be subject to such further Treasury regulations
                      as are
                      promulgated under the Act.

                  

          

          

          

          
            	
                    4.7

                  	
                    Payment
                      Schedule.
                      A
                      Compensation Deferral Agreement may specify the Payment Schedule
                      for a
                      Participant’s In Service Distribution(s) and Retirement Benefit. If no
                      designation is in effect, a distribution will be made in a
                      single lump
                      sum. 

                  

          

          

          
            	 	
                    a.

                  	
                    Modification—Retirement
                      Benefit.
                      A
                      Participant may modify his or her Retirement Benefit Payment
                      Schedule,
                      provided (i) such election is made at least twelve (12) months
                      prior to
                      the date the Participant Retires and the date the first payment
                      is
                      scheduled to be made and (ii) the first payment with respect
                      to which such
                      election is made must be deferred for a period of not less
                      than (5) five
                      years from the date such payment would otherwise have been
                      made. Any
                      modification of a Payment Schedule made within twelve (12)
                      months of a
                      Retirement shall be null and void, and the most recent Payment
                      Schedule
                      dated at least twelve (12) months prior to the Retirement shall
                      be deemed
                      to be in effect.

                  

          

          

          
            	 	
                    b.

                  	
                    Modification—In
                      Service Distribution.
                      A
                      Participant shall be permitted to change each In Service Payment
                      Schedule,
                      provided (i) such election is made at least twelve (12) months
                      prior to
                      the In Service Distribution Date and (ii) the first payment
                      with respect
                      to which such election is made must be deferred for a period
                      of not less
                      than five years from the date such payment would otherwise
                      have been made.
                      Any modification of a Payment Schedule made within twelve (12)
                      months of
                      the In Service Distribution Date shall be null and void, and
                      the most
                      recent Payment Schedule dated at least twelve (12) months prior
                      to the In
                      Service Distribution Date shall be deemed to be in
                      effect.

                  

          

          

          
            
              
              

            

            
              11

              
                

              

            

            
              
              

            

             

          

          
            	
                    4.8

                  	
                    Company’s
                      Right to Modification for IRC 409A.
                      The Plan Administrator may modify a Payment Schedule election
                      as necessary
                      (and only as necessary) to conform the Payment Schedule to
                      applicable law.
                      

                  

          

          

          

          

          ARTICLE
            5. Company
            Contributions

          

          

          
            	
                    5.1

                  	
                    Company
                      Matching Contributions.
                      The Company may, in its sole discretion, make an annual Company
                      Contribution in an amount equal to 25% of the amount of base
                      salary
                      deferred by a Participant and/or 25% of the amount of bonus
                      deferred by a
                      Participant, to a maximum of 6% of salary, if salary is matched,
                      and to a
                      maximum of 6% of bonus if bonus is
                      matched.

                  

          

          

          
            	
                    5.2

                  	
                    Other
                      Company Discretionary Contributions.
                      Each Participating Employer may, in its sole and absolute discretion,
                      make
                      other Company Discretionary Contributions to one, some, or
                      all of the
                      Participant(s) it employs by crediting to such Participants'
                      Retirement/Termination Accounts an amount determined in the
                      sole and
                      absolute discretion of such Participating Employer. A Company
                      Discretionary Contribution may be made at any time during the
                      Plan Year. A
                      Participating Employer shall be under no obligation to make
                      Company
                      Discretionary Contributions unless it so obligates itself under
                      an
                      employment agreement or other agreement.

                  

          

          

          
            	
                    5.3

                  	
                    Vesting.
                      

                  

          

          

          

          
            	 	
                    (a)

                  	
                    The
                      Company Matching Contribution and Other Company Discretionary
                      Contributions in Section 5.1 and 5.2 above, and the Deemed
                      Investment
                      earnings thereon, shall vest in accordance with the vesting
                      schedule
                      determined and communicated by the Company with respect to
                      each Company
                      Discretionary Contribution. 

                  

          

          

          
            	 	
                    (b)

                  	
                    The
                      foregoing provisions concerning vesting of Company Discretionary
                      Contributions notwithstanding, and subject to the requirements
                      of Treasury
                      regulations promulgated under the Act, all Company Discretionary
                      Contributions shall become 100% vested upon the occurrence
                      of the earliest
                      of: (a) Retirement; (b) death of the Participant; (c) Disability
                      of the
                      Participant; and (d) Change in Control. The Participating Employer
                      may, at
                      any time, in its sole discretion, increase a Participant vested
                      interest
                      in Company Discretionary
                      Contribution.

                  

          

          

          
            
              
              

            

            
              12

              
                

              

            

            
              
              

            

          

           

          ARTICLE
            6. Valuation
            of Accounts; Deemed Investments

          

          

          
            	
                    6.1

                  	
                    Valuation.
                      The valuation of a Participant’s Accounts will be adjusted as of each
                      Valuation Date to reflect deferrals, earnings on Deemed Investments
                      and
                      distributions since the previous Valuation Date. Valuation
                      of Accounts
                      shall be performed under procedures approved by the Plan Administrator.
                      Deferrals pertaining to base salary shall be deducted on a
                      proportionate
                      basis from each paycheck the Participant receives during the
                      Plan Year and
                      credited to the Participant’s Accounts as of the date such Compensation
                      would have otherwise been paid. Deferrals pertaining to other
                      forms of
                      Compensation shall be credited to the Participant’s Accounts as of the day
                      such Compensation otherwise would have been paid.
                      

                  

          

          

          

          
            	
                    6.2

                  	
                    Allocation
                      Elections.
                      Participants may make an Allocation Election pursuant to which
                      their
                      Accounts will be credited with earnings on Deemed Investments.
                      A
                      Participant may make a new Allocation Election with respect
                      to future
                      deferrals or current Account Balances (or both), provided that
                      such new
                      allocations shall be in increments of one percent (1%) and
                      apply to the
                      entire Account Balance. Subject to restrictions on the timing
                      and number
                      of permitted changes to Allocation Elections within certain
                      time periods
                      (if any) established by the Plan Administrator, new Allocation
                      Elections
                      may be made on any Business Day, and will become effective
                      on the same
                      Business Day or, in the case of Allocation Elections received
                      after a
                      cut-off time established by the Plan Administrator, the following
                      Business
                      Day. All deferrals shall be credited to the appropriate Account
                      and a
                      Deemed Investment shall be made in the investment(s) represented
                      by the
                      Investment Option(s) elected by the Participant as of the close
                      of
                      business on the deferral date or as otherwise provided by the
                      Plan
                      Administrator.

                  

          

          

          

          
            	
                    6.3

                  	
                    Investment
                      Options.
                      Deemed Investments shall consist of a menu of Investment Options
                      provided
                      by the Committee. Investment Options do not represent actual
                      ownership of,
                      or ownership rights in or to, the securities or other investments
                      to which
                      the Investment Options refer. The Committee, in its sole discretion,
                      shall
                      be permitted to add or remove Investment Options provided that
                      any such
                      additions or removals of Investment Options shall not be effective
                      with
                      respect to any period prior to the effective date of such change.
                      Any
                      portion of an Account or new deferrals which has not been allocated
                      or
                      which cannot be allocated under a Participant’s Allocation Election shall
                      be deemed to be invested in a default Investment Option specified
                      by the
                      Plan Administrator. Such Investment Option shall have, as its
                      primary
                      objective, the preservation of
                      capital.

                  

          

          

          

          
            	
                    6.4

                  	
                    Notional
                      Investments.
                      Notwithstanding anything in this section to the contrary, the
                      Committee
                      shall have the sole and exclusive authority to invest any or
                      all amounts
                      deferred in any manner, regardless of any Allocation Elections
                      by any
                      Participant. A Participant’s Allocation Election and Deemed Investments
                      shall be used solely for purposes of determining the value
                      of such
                      Participant’s Account Balances and the amount of the corresponding
                      liability of the participating Employer in accordance with
                      this
                      Plan.

                  

          

          

          
            
              
              

            

            
              13

              
                

              

            

            
              
              

            

          

          

          ARTICLE
            7. Distribution
            and Withdrawals

          

          

          
            	
                    7.1

                  	
                    Retirement
                      Benefit Distribution.
                      The Retirement Benefit will be paid (or the first payment will
                      be made) by
                      the appropriate Participating Employer as soon as administratively
                      practicable following the Valuation Date. In the case of a
                      Participant who
                      is a “key employee” (as defined in Section 416(i) of the Code) of a
                      corporation, any stock or other security of which is publicly
                      traded on an
                      established securities market or otherwise, the Participant’s Retirement
                      Benefit will be distributed (or will begin to be distributed
                      in the case
                      of a “partial lump sum” and/or installment payments) no earlier than six
                      (6) months following such Participant’s Separation from Service. In the
                      event a “key employee” Participant has elected a “partial lump sum”
                      distribution and/or installment payments, the Retirement Distribution
                      to
                      such “key employee” will be made as elected by the Participant with no
                      modification in the Payment Schedule due to the mandatory six
                      (6) month
                      delay in commencement of payment. 

                  

          

          

          
            	
                    7.2

                  	
                    Termination
                      Benefit.
                      The Termination Benefit shall be paid by the appropriate Participating
                      Employer in a single lump sum within 90 days following the
                      Valuation Date.
                      In the case of a Participant who is a “key employee” (as defined in
                      Section 416(i) of the Code) of a corporation, any stock or
                      other security
                      of which is publicly traded on an established securities market
                      or
                      otherwise, the Participant’s Termination Benefit will be paid no earlier
                      than six (6) months following such Participant’s Separation from Service.
                      

                  

          

          

          An
            Employee is considered a “key employee” if he is a key employee at any time
            during the 12 month period ending on a “specified employee identification date.”
If the Employee is a key employee on such a date, he will be treated
            as a key
            employee for the entire 12 month period beginning on the “specified employee
            effective date.” For purposes of this Section 7.2, the “specified employee
            identification date” is December 31 and the “specified employee effective date”
is the following April 1. 

          

          
            	
                    7.3

                  	
                    In
                      Service Distributions.
                      Each in Service Distribution shall be paid in accordance with
                      the Payment
                      Schedule election made with respect thereto, within 90 days
                      following the
                      Valuation Date. In the event a Participant has elected installment
                      payments for an In Service Distribution, the installment payments
                      shall be
                      determined as set forth in Section 7.9 of the Plan.
                      

                  

          

          

          
            	
                    7.4

                  	
                    Death
                      Benefit.
                      In the event of a Participant’s death before the complete distribution of
                      his or her Deferred Compensation Account, such Participant’s Beneficiary,
                      named on the most recently filed Beneficiary Designation Form,
                      shall be
                      paid a Death Benefit in the amount of the remaining Deferred
                      Compensation
                      Account Balance as of the Valuation Date in a single lump sum
                      within 90
                      days following the end of the month in which the Participant's
                      death
                      occurred. A Death Benefit shall conform to the requirements
                      of the Act in
                      order to avoid an “acceleration” of a
                      payment.

                  

          

          

          
            
              
              

            

            
              14

              
                

              

            

            
              
              

            

             

          

          
            	
                    7.5

                  	
                    Disability
                      Benefit.
                      The appropriate Participating Employer shall pay the Disability
                      Benefit in
                      a single lump sum within 90 days following the Valuation Date.
                      

                  

          

          

          
            	
                    7.6

                  	
                    Unforeseeable
                      Emergency.
                      A
                      Participant may request, in writing to the Plan Administrator,
                      a
                      withdrawal from his or her Deferred Compensation Account if
                      the
                      Participant experiences an Unforeseeable Emergency. Withdrawals
                      of amounts
                      because of an Unforeseeable Emergency are limited to the extent
                      reasonably
                      needed to satisfy the emergency need, which cannot be met with
                      other
                      resources of the Participant. The amount of such withdrawal
                      shall be
                      subtracted first from the vested portion of the Participant's
                      Retirement/Termination Account until depleted and then from
                      the In Service
                      Distribution Accounts (if any) beginning with the Account with
                      the latest
                      In Service Distribution Date. Values for purposes of determining
                      the
                      source of the withdrawal under this Section shall be determined
                      on the
                      date the Plan Administrator approves the amount of the Unforeseeable
                      Emergency withdrawal, or such other date determined by the
                      Plan
                      Administrator. 

                  

          

          

          
            	
                    7.7

                  	
                    Domestic
                      Relations Order.
                      Notwithstanding the Payment Schedule(s) and In Service Distribution
                      Dates
                      selected by a Participant and any other provision of this Plan,
                      the Plan
                      Administrator shall divide such Participant’s Accounts with and distribute
                      a portion of such Participant’s Accounts to one or more “alternate payees”
                      at the time and in the manner specified in a court order described
                      in
                      Section 414(p)(1)(B) of the Code. 

                  

          

          

          
            	
                    7.8

                  	
                    Installment
                      Payments.
                      If the Participant has elected installment payments for such
                      Participant’s
                      Retirement/Termination Benefit distribution or an In Service
                      Distribution,
                      annual cash payments will be made within 90 days following
                      the applicable
                      Valuation Date, or, in the event of a partial lump sum election,
                      following
                      the first anniversary of the partial lump sum payment made
                      following
                      Separation from Service. Such payments shall continue annually
                      on or about
                      the anniversary of the previous installment payment until the
                      number of
                      installment payments elected has been paid. The installment
                      payment amount
                      shall be determined annually as the result of a calculation,
                      performed on
                      the Valuation Date, where (a) is divided by
                      (b):

                  

          

          

          
            	 	
                    a.

                  	
                    equals
                      the value of the applicable Account on the Valuation Date;
                      and

                  

          

          
            	 	
                    b.

                  	
                    equals
                      the remaining number of installment
                      payments.

                  

          

          

          
            	
                    7.9

                  	
                    Small
                      Account Balance Lump Sum Payment.
                      Anything to the contrary in this Plan notwithstanding, in the
                      event that a
                      Participant’s Retirement/Termination Account Balance is less than $10,000
                      on the applicable Valuation Date, the Retirement Benefit shall
                      be paid in
                      a single lump sum and any form of payment election to the contrary
                      shall
                      be null and void. 

                  

          

           

          
            
              
              

            

            
              15

              
                

              

            

            
              
              

            

          

          ARTICLE
            8. Administration

          

          

          
            	
                    8.1

                  	
                    Plan
                      Administration.
                      Except as provided in Section 8.2, this Plan shall be administered
                      by the
                      Plan Administrator, which shall have discretionary authority
                      to make,
                      amend, interpret and enforce all appropriate rules and regulations
                      for the
                      administration of this Plan and to utilize its discretion to
                      decide or
                      resolve any and all questions, including but not limited to
                      eligibility
                      for benefits and interpretations of this Plan and its terms,
                      as may arise
                      in connection with the Plan. Claims for benefits shall be filed
                      with the
                      Plan Administrator and resolved in accordance with the claims
                      procedures
                      in Article XII.

                  

          

          

          
            	
                    8.2

                  	
                    Plan
                      Administration after a Change in Control.
                      

                  

          

          

          
            	 	
                    (a)

                  	
                    Replacement
                      of Plan Administrator.
                      Upon a Change in Control, the individual who, immediately prior
                      to the
                      Change in Control, was the Chief Executive Officer of the Company
                      or, in
                      the event there was no person with the title of Chief Executive
                      Officer
                      prior to the Change in Control, then the highest ranking officer
                      of the
                      Company prior to the Change in Control (“Ex-CEO”), shall have the power to
                      appoint an independent third party as the Plan Administrator
                      to replace
                      the Plan Administrator under this Plan. The previous Plan Administrator
                      shall relinquish responsibility for administration of the Plan
                      as soon as
                      the newly appointed Plan Administrator accepts responsibility
                      for
                      administration of the Plan in writing addressed to the previous
                      Plan
                      Administrator. The newly appointed Plan Administrator shall
                      have all
                      powers and duties of the previous Plan Administrator, as set
                      forth in this
                      Plan. After a change in Control, the Company shall: (1) pay
                      all reasonable
                      administrative expenses and fees of the newly appointed Plan
                      Administrator; (2) indemnify the newly appointed Plan Administrator
                      against any costs, expenses, and liabilities including, without
                      limitation, attorney’s fees and expenses arising in connection with the
                      performance of the newly appointed Plan Administrator hereunder,
                      except
                      with respect to matters resulting from the gross negligence
                      or willful
                      misconduct of the administrator or its employees or agents;
                      and (3) supply
                      full and timely information to the newly appointed Plan Administrator
                      on
                      all matters relating to the Plan, the Trust, the Participants
                      and their
                      Beneficiaries, the Account Balances of the Participants, the
                      date and
                      circumstances of the Disability, death or Separation from Service
                      of the
                      Participants, and such other pertinent information as the newly
                      appointed
                      Plan Administrator may reasonably require. After a Change in
                      Control, the
                      newly appointed Plan Administrator may only be terminated (and
                      a
                      replacement appointed) by the Ex-CEO or, in the event the ex-CEO
                      is no
                      longer a Plan Participant, his or her appointee who is a Plan
                      Participant,
                      and the Company shall have no right nor power to terminate
                      or replace the
                      newly appointed Plan Administrator.

                  

          

          

          
            	 	
                    (b)

                  	
                    Review
                      of denied claims.
                      After a Change in Control, the Committee, as constituted immediately
                      prior
                      to the Change in Control, shall continue to review denied claims
                      as
                      provided in Article XI of the Plan. In the event any member
                      of the
                      Committee resigns or is unable to perform the duties of a member
                      of the
                      Committee, successors to such members shall be selected by
                      the Ex-CEO.
                      After a Change in Control, the Committee shall have the discretionary
                      power and authority to determine all questions arising in connection
                      with
                      the review of a denied claim as provided in Section 11.2 of
                      the Plan.
                      After a Change in Control, the Company shall: (1) pay all reasonable
                      administrative expenses and fees of the Committee; (2) indemnify
                      the
                      Committee against any costs, expenses and liabilities including,
                      with
                      limitation, attorney’s fees and expenses arising in connection with the
                      performance of the Committee hereunder, except with respect
                      to matters
                      resulting from the gross negligence or willful misconduct of
                      the Committee
                      or its employees or agents; and (3) supply full and timely
                      information to
                      the Committee on all matters relating to the Plan, the Trust,
                      the
                      Participants and their Beneficiaries, the Account Balances
                      of the
                      Participants, the date and circumstances of the Disability,
                      death or
                      Separation from Service of the Participants, and such other
                      pertinent
                      information as the Committee may reasonably require. After
                      a Change in
                      Control, a member of the Committee may not be removed by the
                      Company, and
                      may only be removed (and a replacement appointed) by the Ex-CEO.
                      

                  

          

          

          
            
              
              

            

            
              16

              
                

              

            

            
              
              

            

             

          

          
            	
                    8.3

                  	
                    Withholding.
                      The Participating Employer shall have the right to withhold
                      from any
                      payment made under the Plan (or any amount deferred into the
                      Plan) any
                      taxes required by law to be withheld in respect of such payment
                      (or
                      deferral).

                  

          

          

          
            	
                    8.4

                  	
                    Indemnification.
                      The Company shall indemnify and hold harmless each employee,
                      officer,
                      director, agent or organization, to whom or to which is delegated
                      duties,
                      responsibilities, and authority under the Plan or otherwise
                      with respect
                      to administration of the Plan, including, without limitation,
                      the Plan
                      Administrator, the Committee and their agents, against all
                      claims,
                      liabilities, fines and penalties, and all expenses reasonably
                      incurred by
                      or imposed upon him or it (including but not limited to reasonable
                      attorney fees) which arise as a result of his or its actions
                      or failure to
                      act in connection with the operation and administration of
                      the Plan to the
                      extent lawfully allowable and to the extent that such claim,
                      liability,
                      fine, penalty, or expense is not paid for by liability insurance
                      purchased
                      or paid for by the Company. Notwithstanding the foregoing,
                      the Company
                      shall not indemnify any person or organization if his or its
                      actions or
                      failure to act are due to gross negligence or willful misconduct
                      or for
                      any such amount incurred through any settlement or compromise
                      of any
                      action unless the Company consents in writing to such settlement
                      or
                      compromise.

                  

          

          

          
            	
                    8.5

                  	
                    Expenses.
                      The expenses of administering the Plan shall be paid by the
                      Company.

                  

          

          

          
            	
                    8.6

                  	
                    Delegation
                      of Authority.
                      In the administration of this Plan, the Plan Administrator
                      may, from time
                      to time, employ agents and delegate to them such administrative
                      duties as
                      it sees fit, and may from time to time consult with legal counsel
                      who may
                      be legal counsel to the Company.

                  

          

          

          
            
              
              

            

            
              17

              
                

              

            

            
              
              

            

             

          

          
            	
                    8.7

                  	
                    Binding
                      Decisions or Actions.
                      The decision or action of the Plan Administrator in respect
                      of any
                      question arising out of or in connection with the administration,
                      interpretation and application of the Plan and the rules and
                      regulations
                      thereunder shall be final and conclusive and binding upon all
                      persons
                      having any interest in the Plan.

                  

          

          

          

          

          ARTICLE
            9. Amendment
            and Termination

          

          

          
            	
                    9.1

                  	
                    Amendment
                      and Termination.
                      The Plan is intended to be permanent, but the Committee may
                      at any time
                      modify, amend, or terminate the Plan, provided that such modification,
                      amendment or termination shall not cancel, reduce, or otherwise
                      adversely
                      affect the amount of benefits of any Participant accrued (and
                      any form of
                      payment elected) as of the date of any such modification, amendment,
                      or
                      termination, without the consent of the Participant unless
                      such
                      modification, amendment or termination is required to conform
                      the Plan to
                      applicable law. In the event of a modification to the Plan
                      required by law
                      all outstanding Compensation Deferral Agreements also shall
                      be deemed to
                      be modified to reflect the changes to the Plan document. A
                      termination of
                      the Plan shall not, by itself, result in payments to Participants
                      under
                      the Plan, except to the extent permitted in regulations promulgated
                      under
                      the Act. Unless distributions are otherwise permissible under
                      such
                      regulations, payments to Participants shall be made at the
                      times specified
                      in a Participant’s Compensation Deferral Agreements and the terms of the
                      Plan applicable to such Agreements prior to the Plan’s
                      termination.

                  

          

          

          
            	
                    9.2

                  	
                    Adverse
                      Income Tax Determination.
                      Notwithstanding anything to the contrary in the Plan, if any
                      Participant
                      receives a deficiency notice from the United States Internal
                      Revenue
                      Service asserting constructive receipt of amounts payable under
                      the Plan,
                      Company contributions, and/or the investment earnings attributed
                      thereto
                      due to any Participant withdrawal right or other Plan provision,
                      the
                      Committee, in its sole discretion, may declare null and void
                      any Plan
                      provision with respect to affected Participants that causes
                      such
                      Participant to be in constructive receipt of income. If the
                      laws of the
                      United States or of any relevant state are amended or construed
                      in such a
                      way as to make this Plan (or its intended deferral of compensation
                      and
                      taxes) in whole or in part void, then the Committee, in its
                      sole
                      discretion, may give effect to the Plan in such a manner as
                      it deems will
                      best carry out the purposes and intentions of this Plan. Nothing
                      in this
                      Section 9.2 shall be construed to limit the Plan Administrator
                      or
                      Committee’s authority under applicable law to take any such action as
                      may
                      be necessary to accomplish the objective of the Plan to defer
                      the
                      recognition of compensation in connection with the taxation
                      of
                      income.

                  

          

          

          
            
              
              

            

            
              18

              
                

              

            

            
              
              

            

          

           

          ARTICLE
            10. Informal
            Funding

          

          

          
            	
                    10.1

                  	
                    General
                      Assets.
                      All benefits in respect of a Participant under this Plan shall
                      be paid
                      directly from the general funds of the applicable Participating
                      Employer
                      or a Rabbi Trust created for the purpose of informally funding
                      the Plan,
                      and other than such Rabbi Trust, if created, no special or
                      separate fund
                      shall be established and no other segregation of assets shall
                      be made to
                      assure payment. No Participant, spouse or Beneficiary shall
                      have any
                      right, title or interest whatever in or to any investments
                      that the
                      Company or a Participating Employer may make to aid the Participating
                      Employer in meeting its obligation hereunder. Nothing contained
                      in this
                      Plan, and no action taken pursuant to its provisions, shall
                      create or be
                      construed to create a trust of any kind, or a fiduciary relationship,
                      between the Company, a Participating Employer or any if its
                      subsidiaries
                      or affiliated companies and any Employee, spouse, or Beneficiary.
                      To the
                      extent that any person acquires a right to receive payments
                      from a
                      Participating Employer hereunder, such rights are no greater
                      than the
                      right of an unsecured general creditor of the Participating
                      Employer.

                  

          

          

          

          
            	
                    10.2

                  	
                    Rabbi
                      Trust.
                      The Company and/or Participating Employer may, at its sole
                      discretion,
                      establish a grantor trust, commonly known as a Rabbi Trust,
                      as a vehicle
                      for accumulating the assets needed to pay the promised benefit,
                      but the
                      Company or Participating Employer shall be under no obligation
                      to
                      establish any such trust or any other informal funding
                      vehicle.

                  

          

          

          

          

          ARTICLE
            11. Claims

          

          

          
            	
                    11.1

                  	
                    Filing
                      a Claim.
                      Any controversy or claim arising out of or relating to the
                      Plan shall be
                      filed with the Plan Administrator which shall make all determinations
                      concerning such claim. Any decision by the Plan Administrator
                      denying such
                      claim shall be in writing and shall be delivered to the Participant
                      or
                      Beneficiary filing the claim (‘Claimant’).

                  

          

          

          
            	 	
                    a.

                  	
                    In
                      General.
                      Notice of a denial of benefits (other than Disability benefits)
                      will be
                      provided within 90 days of the Plan Administrator’s receipt of the
                      Claimant's claim for benefits. If the Plan Administrator determines
                      that
                      it needs additional time to review the claim, the Plan Administrator
                      will
                      provide the Claimant with a notice of the extension before
                      the end of the
                      initial 90-day period. The extension will not be more than
                      90 days from
                      the end of the initial 90-day period and the notice of extension
                      will
                      explain the special circumstances that require the extension
                      and the date
                      by which the Plan Administrator expects to make a
                      decision.

                  

          

          

          
            	 	
                    b.

                  	
                    Disability
                      Benefits.
                      Notice of denial of Disability benefits will be provided within
                      forty-five
                      (45) days of the Plan Administrator’s receipt of the Claimant’s claim for
                      Disability benefits. If the Plan Administrator determines that
                      it needs
                      additional time to review the Disability claim, the Plan Administrator
                      will provide the Claimant with a notice of the extension before
                      the end of
                      the initial 45-day period. If the Plan Administrator determines
                      that a
                      decision cannot be made within the first extension period due
                      to matters
                      beyond the control of the Plan Administrator, the time period
                      for making a
                      determination may be further extended for an additional 30
                      days. If such
                      an additional extension is necessary, the Plan Administrator
                      shall notify
                      the Claimant prior to the expiration of the initial 30-day
                      extension. Any
                      notice of extension shall indicate the circumstances necessitating
                      the
                      extension of time, the date by which the Plan Administrator
                      expects to
                      furnish a notice of decision, the specific standards on which
                      such
                      entitlement to a benefit is based, the unresolved issues that
                      prevent a
                      decision on the claim and any additional information needed
                      to resolve
                      those issues. A Claimant will be provided a minimum of 45 days
                      to submit
                      any necessary additional information to the Plan Administrator.
                      In the
                      event that a 30-day extension is necessary due to a Claimant’s failure to
                      submit information necessary to decide a claim, the period
                      for furnishing
                      a notice of decision shall be tolled from the date on which
                      the notice of
                      the extension is sent to the Claimant until the earlier of
                      the date the
                      Claimant responds to the request for additional information
                      or the
                      response deadline. 

                  

          

          

          
            
              
              

            

            
              19

              
                

              

            

            
              
              

            

             

          

          
            	 	
                    c.

                  	
                    Contents
                      of Notice.
                      If a claim for benefits is completely or partially denied,
                      notice of such
                      denial shall be in writing and shall set forth the reasons
                      for denial in
                      plain language. The notice shall (1) cite the pertinent provisions
                      of the
                      Plan document and (2) explain, where appropriate, how the Claimant
                      can
                      perfect the claim, including a description of any additional
                      material or
                      information necessary to complete the claim and why such material
                      or
                      information is necessary. The claim denial also shall include
                      an
                      explanation of the claims review procedures and the time limits
                      applicable
                      to such procedures, including a statement of the Claimant’s right to bring
                      a civil action under Section 502(a) of ERISA following an adverse
                      decision
                      on review. In the case of a complete or partial denial of a
                      Disability
                      benefit claim, the notice shall provide a statement that the
                      Plan
                      Administrator will provide to the Claimant, upon request and
                      free of
                      charge, a copy of any internal rule, guideline, protocol, or
                      other similar
                      criterion that was relied upon in making the
                      decision.

                  

          

          

          

          
            	
                    11.2

                  	
                    Appeal
                      of Denied Claims.
                      A
                      Claimant whose claim has been completely or partially denied
                      shall be
                      entitled to appeal the claim denial by filing a written appeal
                      with the
                      Committee. A Claimant who timely requests a review of the denied
                      claim (or
                      his or her authorized representative) may review, upon request
                      and free of
                      charge, copies of all documents, records and other information
                      relevant to
                      the denial and may submit written comments, documents, records
                      and other
                      information relevant to the claim to the Committee. All written
                      comments,
                      documents, records, and other information shall be considered
“relevant”
                      if the information (1) was relied upon in making a benefits
                      determination,
                      (2) was submitted, considered or generated in the course of
                      making a
                      benefits decision regardless of whether it was relied upon
                      to make the
                      decision, or (3) demonstrates compliance with administrative
                      processes and
                      safeguards established for making benefit decisions. The Committee
                      may, in
                      its sole discretion and if it deems appropriate or necessary,
                      decide to
                      hold a hearing with respect to the claim
                      appeal.

                  

          

          

          
            
              
              

            

            
              20

              
                

              

            

            
              
              

            

             

          

          
            	 	
                    a.

                  	
                    In
                      General.
                      Appeal of a denied benefits claim (other than a Disability
                      benefits claim)
                      must be filed in writing with the Committee no later than sixty
                      (60) days
                      after receipt of the written notification of such claim denial.
                      The
                      Committee shall make its decision regarding the merits of the
                      denied claim
                      within sixty (60) days following receipt of the appeal (or
                      within one
                      hundred and twenty (120) days after such receipt, in a case
                      where there
                      are special circumstances requiring extension of time for reviewing
                      the
                      appealed claim). If an extension of time for reviewing the
                      appeal is
                      required because of special circumstances, written notice of
                      the extension
                      shall be furnished to the Claimant prior to the commencement
                      of the
                      extension. The notice will indicate the special circumstances
                      requiring
                      the extension of time and the date by which the Committee expects
                      to
                      render the determination on review. The review will take into
                      account
                      comments, documents, records and other information submitted
                      by the
                      Claimant relating to the claim without regard to whether such
                      information
                      was submitted or considered in the initial benefit determination.
                      

                  

          

          

          
            	 	
                    b.

                  	
                    Disability
                      Benefits.
                      Appeal of a denied Disability benefits claim must be filed
                      in writing with
                      the Committee no later than one hundred eighty (180) days after
                      receipt of
                      the written notification of such claim denial. The review shall
                      be
                      conducted by the Committee (exclusive of the person who made
                      the initial
                      adverse decision or such person’s subordinate). In reviewing the appeal,
                      the Committee shall (1) not afford deference to the initial
                      denial of the
                      claim, (2) consult a medical professional who has appropriate
                      training and
                      experience in the field of medicine relating to the Claimant’s disability
                      and who was neither consulted as part of the initial denial
                      nor is the
                      subordinate of such individual and (3) identify the medical
                      or vocational
                      experts whose advice was obtained with respect to the initial
                      benefit
                      denial, without regard to whether the advice was relied upon
                      in making the
                      decision. The Committee shall make its decision regarding the
                      merits of
                      the denied claim within forty-five (45) days following receipt
                      of the
                      appeal (or within ninety (90) days after such receipt, in a
                      case where
                      there are special circumstances requiring extension of time
                      for reviewing
                      the appealed claim). If an extension of time for reviewing
                      the appeal is
                      required because of special circumstances, written notice of
                      the extension
                      shall be furnished to the Claimant prior to the commencement
                      of the
                      extension. The notice will indicate the special circumstances
                      requiring
                      the extension of time and the date by which the Committee expects
                      to
                      render the determination on review. Following its review of
                      any additional
                      information submitted by the Claimant, the Committee shall
                      render a
                      decision on its review of the denied
                      claim.

                  

          

          

          
            	 	
                    c.

                  	
                    Contents
                      of Notice.
                      If a benefits claim is completely or partially denied on review,
                      notice of
                      such denial shall be in writing and shall set forth the reasons
                      for denial
                      in plain language. 

                  

          

          

          
            	 	
                    i.

                  	
                    The
                      decision on review shall set forth (a) the specific reason
                      or reasons for
                      the denial, (b) specific references to the pertinent Plan provisions
                      on
                      which the denial is based, (c) a statement that the Claimant
                      is entitled
                      to receive, upon request and free of charge, reasonable access
                      to and
                      copies of all documents, records, or other information relevant
                      (as
                      defined above) to the Claimant’s claim, and (d) a statement describing any
                      voluntary appeal procedures offered by the plan and a statement
                      of the
                      Claimant’s right to bring an action under Section 502(a) of ERISA.
                      

                  

          

          

          
            
              
              

            

            
              21

              
                

              

            

            
              
              

            

             

          

          
            	 	
                    ii.

                  	
                    For
                      the denial of a Disability benefit, the notice will also include
                      a
                      statement that the Committee will provide, upon request and
                      free of
                      charge, (a) any internal rule, guideline, protocol or other
                      similar
                      criterion relied upon in making the decision, (b) any medical
                      opinion
                      relied upon to make the decision and (c) the required statement
                      under
                      Section 2560.503-1(j)(5)(iii) of the Department of Labor
                      regulations.

                  

          

          

          
            	
                    11.3

                  	
                    Legal
                      Action.
                      A
                      Claimant may not bring any legal action relating to a claim
                      for benefits
                      under the Plan unless and until the Claimant has followed the
                      claims
                      procedures under the Plan and exhausted his or her administrative
                      remedies
                      under such claims procedures.

                  

          

          

          
            	
                    11.4

                  	
                    Discretion
                      of Committee.
                      All interpretations, determinations and decisions of the Committee
                      with
                      respect to any claim shall be made in its sole discretion,
                      and shall be
                      final and conclusive.

                  

          

          

          

          ARTICLE
            12. GENERAL
            CONDITIONS

          

          

          
            	
                    12.1

                  	
                    Anti-assignment
                      Rule.
                      No interest of any Participant, spouse or Beneficiary under
                      this Plan and
                      no benefit payable hereunder shall be assigned as security
                      for a loan, and
                      any such purported assignment shall be null, void and of no
                      effect, nor
                      shall any such interest or any such benefit be subject in any
                      manner,
                      either voluntarily or involuntarily, to anticipation, sale,
                      transfer,
                      assignment or encumbrance by or through any Participant, spouse
                      or
                      Beneficiary.

                  

          

          

          
            	
                    12.2

                  	
                    No
                      Legal or Equitable Rights or Interest.
                      No Participant or other person shall have any legal or equitable
                      rights or
                      interest in this Plan that are not expressly granted in this
                      Plan.
                      Participation in this Plan does not give any person any right
                      to be
                      retained in the service of the Company or any of its subsidiaries
                      or
                      affiliated companies. The right and power of the Company to
                      dismiss or
                      discharge an Employee is expressly reserved. Notwithstanding
                      the
                      provisions of Section 9.2, the Company makes no representations
                      or
                      warranties as to the tax consequences to a Participant or a
                      Participant’s
                      beneficiaries resulting from a deferral of income pursuant
                      to the Plan or
                      that the Plan complies in form or operation with Section 409A
                      of the Code
                      and regulations issued thereunder.

                  

          

          

          
            	
                    12.3

                  	
                    No
                      Employment Contract.
                      Nothing contained herein shall be construed to constitute a
                      contract of
                      employment between an Employee and the Company or any of its
                      subsidiaries
                      or affiliated companies.

                  

          

          

          
            
              
              

            

            
              22

              
                

              

            

            
              
              

            

             

          

          
            	
                    12.4

                  	
                    Headings.
                      The headings of Sections are included solely for convenience
                      of reference,
                      and if there is any conflict between such headings and the
                      text of this
                      Plan, the text shall control. 

                  

          

          

          
            	
                    12.5

                  	
                    Invalid
                      or Unenforceable Provisions.
                      If any provision of this Plan shall be held invalid or unenforceable,
                      such
                      invalidity or unenforceability shall not affect any other provisions
                      hereof and the Plan Administrator may elect in its sole discretion
                      to
                      construe such invalid or unenforceable provisions in a manner
                      that
                      conforms to applicable law or as if such provisions, to the
                      extent invalid
                      or unenforceable, had not been
                      included.

                  

          

          

          
            	
                    12.6

                  	
                    Governing
                      Law.
                      To the extent not preempted by ERISA, the laws of the State
                      of California
                      shall govern the construction and administration of the
                      Plan.

                  

          

          

          IN
            WITNESS WHEREOF,
            the
            undersigned executed this Plan as of the ___ day
            of
            _________, 2007 to be effective as of the Effective Date.

          

          

          

          Rubio’s
            Restaurants, Inc.

          

          By:
            _______________________________

          

          Its:
            _______________________________

          

          
            
              
              

            

            
              23

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