Document:

Exhibit 10.27 Unit Plan for Incumbent Non-Employee Directors

Exhibit 10.27

Unit Plan for Incumbent Non-Employee Directors
(as amended and restated effective October 1, 2012)

SECTION 1. Introduction

The Unit Plan for Incumbent Non-Employee Directors provides for a Stock Unit Account, an Equity Index Account and an Interest Income Account for each Incumbent Director, the value of which will be paid to the Incumbent Director or, in the case of his or her death, a Beneficiary, upon such Incumbent Director's ceasing to be a Director after January 1, 1996.  This Plan was initially effective November 29, 1995.  No additional amounts, other than earnings, have been credited since January 1, 1996.

SECTION 2. Definitions

For purposes of the Plan, the following terms are defined as set forth below:

		
	a.
	"Account" means the Stock Unit Account, the Equity Index Account, the Interest Income Account, or any other account under this Plan established pursuant to Section 3, and "Accounts" means more than one of the Accounts.

		
	b.
	"Altria Stock Fund" means the Altria Stock Fund of the Profit-Sharing Plan or the predecessor thereto (such predecessor fund was referred to as the Philip Morris Stock Fund).

		
	c.
	"Beneficiary" means any person or entity designated as such in a current Beneficiary Designation Form on file with the Corporate Secretary of the Company. If there is no valid designation or if no designated Beneficiary survives the Participant, the Beneficiary is the Participant's estate.

		
	d.
	"Beneficiary Designation Form" means a Plan Beneficiary Designation Form properly completed and signed.

		
	e.
	"Board" means the Board of Directors of the Company.

		
	f.
	"Common Stock" means the common stock, $0.331/3 par value, of the Company.

		
	g.
	"Company" means Altria Group, Inc., a corporation organized under the laws of the Commonwealth of Virginia, or any successor corporation.

		
	h.
	"Director" means a person serving on the Board.

		
	i.
	"Distribution Election Form" means a Plan Distribution and Special Transfer Election Form properly completed and signed.

		
	j.
	"Equity Index Account" means the unfunded deferred compensation account established by the Company in accordance with Section 3 of the Plan. 

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	k.
	"Equity Index Fund" means the Equity Index Fund (or its equivalent) of the Profit-Sharing Plan.

		
	l.
	"ERISA" means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the rules and regulations thereunder.

		
	m.
	"Interest Income Account" means the unfunded deferred compensation account established by the Company in accordance with Section 3 of the Plan.

		
	n.
	"Interest Income Fund" means the Interest Income Fund (or its equivalent) of the Profit-Sharing Plan.

		
	o.
	 "Incumbent Director" means a Director on January 1, 1996 who is not entitled to receive a pension or similar benefit from the Company or any corporation in which the Company owns, or at any time owned, directly or indirectly, stock possessing at least fifty percent (50%) of the total combined voting power of all classes of stock entitled to vote; provided, however, if an Incumbent Director is eligible for a Pension Allowance (as defined in the Pension Plan) if he or she ceases to be a Director, he or she waives, before December 20, 1995, his or her right to such Pension Allowance.

		
	p.
	"Participant" means an Incumbent Director, and a person who was, but is no longer, serving on the Board as long as an Account is being maintained for his or her benefit.

		
	q.
	"Pension Plan" means the Pension Plan for Directors of Philip Morris Companies Inc. 

		
	r.
	"Plan" means the Unit Plan for Incumbent Non-Employee Directors.

		
	s.
	"Profit-Sharing Plan" means the Altria Group, Inc. Deferred Profit-Sharing Plan for Salaried Employees, effective as of January 1, 1956, as amended from time to time.

		
	t.
	"Stock Unit" means a notional entry that is the equivalent of one share of Common Stock.

		
	u.
	"Stock Unit Account" means the unfunded deferred compensation account measured by reference to the Altria Stock Fund established by the Company in accordance with Section 3 of the Plan.

SECTION 3. Accounts

          On January 1, 1996, the Company shall establish a Stock Unit Account for each Incumbent Director and shall credit thereto a number of Stock Units equal to that resulting from a theoretical investment of $285,000 on December 29, 1995 in the Altria Stock Fund; provided, however, if, before December 20, 1995, a Director shall have elected to credit an amount, not in excess of $142,500 in the aggregate, to one or both of the Equity Index Account and the Interest Income Account, the Company shall establish for each such Incumbent Director on January 1, 1996 such Accounts in the amounts

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specified and shall credit to a Stock Unit Account for such Incumbent Director that number of Stock Units equal to that resulting from a theoretical investment on December 29, 1995 in the Altria Stock Fund of $285,000, less the amounts credited to such other Accounts.

          The Stock Unit Account shall be a bookkeeping account whose value shall be based on a theoretical investment in the Altria Stock Fund.  If as a result of adjustments or substitutions in connection with an event described in the second paragraph of Section 4 of the Company's Stock Compensation Plan for Non-Employee Directors or the comparable provision of any successor to such plan,  a participant has received or receives with respect to any of his or her Accounts rights or amounts measured by reference to stock other than Common Stock, (i) such rights or amounts shall be accounted for in an additional Account under the Plan but treated as subject to the elections made and any other matters relating to this Plan in a manner parallel to the treatment of the Stock Unit Account under the Plan and (ii) the participant shall be offered the opportunity to convert the portion of his or her Account measured by reference to such other stock to an amount credited under the Stock Unit Account, the Equity Index Account, or the Interest Income Account having the same fair market value (rounded as necessary to reflect fractional shares) as of the date of such conversion, provided that such conversion involving the Stock Unit Account may only be made to the extent that such conversion does not result in a violation of Section 10(b) or Section 16(b) of the Securities Exchange Act of 1934 or any other applicable securities law.  In connection with the spin-off from the Company of Kraft Foods Inc. and Philip Morris International Inc., each participant with a Stock Unit Account at the time of such spin-offs had an Account established holding shares of those respective companies in the same manner as if the participant were a Company shareholder.  In connection with the spin-off from Kraft Foods Inc. (renamed Mondelēz International Inc.) of Kraft Foods Group, Inc., each participant with an Account credited with shares of Kraft Foods Inc. (renamed Mondelēz International, Inc.) at the time of such spin-off shall be credited with an Account holding shares of Kraft Foods Group, Inc. in the same manner as if the participant were a Kraft Foods Inc. (renamed Mondelēz International, Inc.) shareholder.

          The Equity Index Account shall be a bookkeeping account whose value shall be based on a theoretical investment in the Equity Index Fund of the Profit-Sharing Plan.

          The Interest Income Account shall be a bookkeeping account whose value shall be based on a theoretical investment in the Interest Income Fund of the Profit-Sharing Plan.

          Each Account shall be credited with earnings and charged with losses, if any, on the same basis as the corresponding Fund, as the same may be changed from time to time, under the Profit-Sharing Plan. The value of any Account at any relevant time shall be determined as if all amounts credited thereto had been invested in the corresponding Fund; provided, however, that if as a result of adjustments or substitutions in connection with an event described in the second paragraph of Section 4 of the Company's Stock Compensation Plan for Non-Employee Directors or the comparable provision of any 

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successor to such plan, a participant has received or receives with respect to one or more of his or her Accounts rights or amounts measured by reference to stock other than Common Stock (including, without limitation, the Accounts measured by reference to shares of Philip Morris International Inc., Mondelēz International, Inc., and Kraft Foods Group, Inc.), then any crediting of amounts to reflect dividends with respect to such other stock shall be allocated among and treated as invested proportionately in the Accounts most recently selected and in effect for investment by the Participant (as determined by reference to such Participant's election form then in effect).

          Except as provided in this Section 3 and in Section 4 below, no transfer shall be permitted among Accounts.

SECTION 4. Distribution and Special Transfer Election

         Unless the Participant has filed a Distribution Election Form with the Corporate Secretary of the Company no later than one year and one day preceding the date he or she ceases to be a Director, the Participant's Accounts shall be distributed in a lump sum on the first day of the second month following the date the Participant ceases to be a Director.

          A Participant may file a Distribution Election Form, which shall be irrevocable, providing that distribution from his or her Accounts may be made (i) in no more than one-hundred eighty (180) monthly, sixty (60) quarterly or fifteen (15) annual installments or (ii) in a combination of a lump sum and installments. The first such payment shall be made on the first day of the second month following the date the participant ceases to be a Director. Each installment shall be determined by dividing the sum of the Account balances by the number of remaining installments. If a Participant or a Beneficiary is receiving distributions in installments, the Accounts shall continue to accrue earnings and incur losses in accordance with Section 3.

          A Participant who elects a distribution in installments shall be entitled to make a special investment election on his or her Distribution Election Form pursuant to which transfers from the Participant's Stock Unit Account will be made, effective the first day of the second month following the date the Participant ceases to be a Director, to an Equity Index Account or an Interest Income Account or both.

          If a distribution occurs by reason of the Participant's death or, if at the time of death, the Participant was receiving distributions in installments, the balance remaining in the Participant's Accounts shall be payable to his or her Beneficiaries designated in, and in the manner of payment set forth on, the Participant's Beneficiary Designation Form in effect on the date of the Participant's death.  Any lump sum distributions to Beneficiaries shall be without interest.

          All distributions shall be paid in cash.

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SECTION 5. Beneficiary Designation

          A Participant may at any time file a Beneficiary Designation Form with the Corporate Secretary of the Company. Such Beneficiary Designation Form may be revoked or modified at any time by filing a new Beneficiary Designation Form.

SECTION 6. General Provisions

6.1 Unfunded Plan.

It is intended that the Plan constitute an "unfunded" plan for deferred compensation. The Company may authorize the creation of trusts or other arrangements to meet the obligations created under the Plan; provided, however, that, unless the Company otherwise determines, the existence of such trusts or other arrangements is consistent with the "unfunded" status of the Plan. Any liability of the Company to any person with respect to any grant under the Plan shall be based solely upon any contractual obligations that may be created pursuant to the Plan. No such obligation of the Company shall be deemed to be secured by any pledge of, or other encumbrance on, any property of the Company.

6.2 Rules of Construction.

Headings are given to the sections of the Plan solely as a convenience to facilitate reference. The reference to any statute, regulation, or other provision of law shall be construed to refer to any amendment to or successor of such provision of law.

6.3 Withholding.

No later than the date as of which an amount first becomes includible in the gross income of the Participant or Beneficiary for Federal income tax purposes with respect to any participation under the Plan, the Participant or Beneficiary shall pay to the Company, or make arrangements satisfactory to the Company regarding the payment of, any Federal, state, local or foreign taxes of any kind required by law to be withheld with respect to such amount.

6.4 Amendment and Administration.

The Plan may be amended by the Board, but no amendment shall be made that would impair the rights of a Participant to his or her Accounts without his or her consent.  The Plan shall be administered by the Nominating, Corporate Governance and Social Responsibility Committee of the Board or a subcommittee thereof, any successor thereto, or such other committee or subcommittee as may be designated by the Board to administer the Plan (the “Committee”).  The Committee shall have the power to interpret the Plan, adopt rules and guidelines for carrying out the Plan, and appoint such delegates as it may deem appropriate.  Any determination made by the Committee in accordance

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 with the provisions of the Plan shall be made in the sole discretion of the Committee, and all decisions made by the Committee pursuant to the provisions of the Plan shall be final and binding on all persons, including the Company and Plan participants.

6.5 Duration of Plan.

There shall be no time limitation with respect to the Plan. The Board may terminate the Plan at any time. Upon termination of the Plan, amounts credited to each Account shall be distributed in accordance with the Distribution Election Form applicable to each such Account or as otherwise provided in Section 4.

6.6 Assignability.

No Participant or Beneficiary shall have the right to assign, pledge or otherwise transfer any payments to which such Participant or Beneficiary may be entitled under the Plan other than by will or by the laws of descent and distribution or pursuant to a "qualified domestic relations order" (as defined by Title I of ERISA).

6.7 Construction.

The Plan shall be construed and interpreted in accordance with Virginia law.  Headings are given to the sections of the Plan solely as a convenience to facilitate reference.  The reference to any statute, regulation, or other provision of law shall be construed to refer to any amendment to or successor of such provision of law.  The Plan is intended to be construed so that participation in the Plan will be exempt from Section 16(b) of the Exchange Act pursuant to regulations and interpretations issued from time to time by the Securities and Exchange Commission.

6Exhibit 10.33 Deferred Fee Plan for Non-Employee Directors

Exhibit 10.33

Altria Group, Inc.
Deferred Fee Plan for Non-Employee Directors
(as amended and restated effective October 1, 2012)

SECTION 1.  Purposes; Definitions.
 
The purpose of the Plan is to afford each Non-Employee Director the option to elect to defer the receipt of all or part of his or her Compensation until such future date as he or she may elect pursuant to the terms and conditions of the Plan.

This Plan was previously named the 1992 Compensation Plan for Non-Employee Directors.  This Plan is hereby amended and restated effective October 1, 2012, and shall govern the rights of Participants on and after such date.

For purposes of the Plan, the following terms are defined as set forth below:

		
	a.
	"Account" means an unfunded deferred compensation account established by the Company pursuant to the Deferred Fee Program, consisting of one or more Subaccounts established in accordance with Section 3.2.2.

		
	b.
	"Allocation Date" means any date on which an amount representing all or a part of a Participant's Compensation is to be credited to his or her Account pursuant to an effective Election Form.  The Allocation Date for the Retainer shall be the last business day of each calendar quarter. 

		
	c.
	"Beneficiary" means any person or entity designated as such in a current Election Form. If there is no valid designation or if no designated Beneficiary survives the Participant, the Beneficiary is the Participant's estate.

		
	d.
	"Board" means the Board of Directors of the Company.

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

		
	f.
	"Common Stock" means the common stock, $0.331/3 par value, of the Company.

		
	g.
	"Company" means Altria Group, Inc., a corporation organized under the laws of the Commonwealth of Virginia, or any successor corporation.

		
	h.
	"Compensation" means the sum of the Retainers payable by the Company to each Participant. 

		
	i.
	"Deferral Election" means the election by a Participant on an Election Form to defer the payment of all or part of his or her Compensation to be earned and payable after the applicable effective date set forth in Sections 2.1.1 or 2.1.2.

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	j.
	"Deferred Amount" means the amount of Compensation (determined as a percentage of the Retainers) subject to a current deferral election.

		
	k.
	"Deferred Fee Program" means the provisions of the Plan that permit Participants to defer all or part of their Compensation.

		
	l.
	"Disability" means permanent and total disability within the meaning of Code section 409A, as determined under procedures established by the Board for purposes of the Plan.

		
	m.
	"Distribution Date" means the date designated by a Participant in accordance with Sections 3.3.1 and 3.3.2 for the commencement of payment of amounts credited to his or her Account.

		
	n.
	"Election Date" means the date an Election Form is received by the Secretary of the Company.

		
	o.
	"Election Form" means a valid Deferred Fee Program Initial Election Form or Modified Election Form properly completed and signed.

		
	p.
	"Exchange Act" means the Securities Exchange Act of 1934, as from time to time amended.

		
	q.
	"Extraordinary Distribution Request Date" means the date an Extraordinary Distribution Request Form is received by the Secretary of the Company.

		
	s.
	"Extraordinary Distribution Request Form" means the Deferred Fee Program Extraordinary Distribution Request Form properly completed and executed by a Participant or Beneficiary who wishes to request an extraordinary distribution of amounts credited to his or her Account in accordance with Section 3.3.3.

		
	t.
	"Fund" means any one of the investment vehicles in which the trust fund established under the trust agreement, as amended from time to time, entered into by the Company in connection with the Profit-Sharing Plan, is invested.

		
	u.
	"Investment Transfer Election Date" means the date set forth on an Investment Transfer Election Form.

		
	v.
	"Investment Transfer Election Form" means a valid Deferred Fee Program Investment Transfer Election Form completed and signed by a Participant or Beneficiary.

		
	w.
	"Non-Employee Director" means each member of the Board who is not a full-time employee of the Company (or any corporation in which the Company owns, directly or indirectly, stock possessing at least fifty percent (50%) of the total combined voting 

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power of all classes of stock entitled to vote in the election of directors in such corporation).

		
	x.
	"Participant" means a Non-Employee Director and a Director Emeritus.   A Participant shall also include a person who was, but is no longer, a member of the Board as long as an Account is being maintained for his or her benefit.

		
	y.
	"Plan" means the Altria Group, Inc. Deferred Fee Plan for Non-Employee Directors.

		
	z.
	"Profit-Sharing Plan" means the Altria Group, Inc. Deferred Profit-Sharing Plan for Salaried Employees, effective as of January 1, 1956, as amended from time to time.

		
	aa.
	"Retainer" means the portion of a Participant's Compensation that is fixed and paid without regard to his or her attendance at meetings, but shall not include amounts credited to a Participant's account under the Stock Compensation Plan for Non-Employee Directors or the Unit Plan for Incumbent Non-Employee Directors.

		
	bb.
	"Subaccount" means one of the bookkeeping accounts established within each Participant's Account in accordance with Section 3.2.2.

SECTION 2.  Eligibility.

Each Non-Employee Director shall be eligible to participate in the Deferred Fee Program.

SECTION 3.  Deferred Fee Program.

		
	3.1
	Participation.

3.1.1    Deferral Elections.

A Non-Employee Director may elect to defer all or a part of his or her Compensation to be earned and payable thereafter by completing and executing an Election Form and delivering it to the Secretary of the Company.  Any Deferral Election relating to a Retainer shall be in integral multiples of twenty-five percent (25%) of the Retainer.  

The Participant shall indicate on the Initial Election Form:

a.    the percentage of each type of Retainer that he or she wishes to defer;

b.    the Distribution Date;

		
	c.
	whether distributions are to be in a lump sum, in installments or a combination thereof; 

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d.    the Participant's Beneficiary or Beneficiaries; and

e.    the Subaccounts to which the Deferred Amount is to be allocated.

A Deferral Election shall become effective with respect to a Participant's selected Retainer(s) accruing on and after the first day of the calendar year following the Election Date and shall remain in effect with respect to all future Compensation until a new Deferral Election made by the Participant in accordance with Section 3.1.2 or Section 3.1.3 becomes effective.  In the case of a newly eligible Participant, however, a Deferral Election may be made no later than 30 days after first becoming eligible for this Plan and any other Plan required to be aggregated with this Plan under Code section 409A and the regulations and other guidance thereunder, and shall not be effective with respect to Compensation to which the Participant becomes entitled as a result of services performed on or before the Election Date.

3.1.2    Change of Deferral Election. 

A Participant may change his or her deferral election with respect to Compensation to be earned and payable in a subsequent calendar year by completing and executing a Modified Election Form and delivering it to the Secretary of the Company.  A change to increase or decrease the amount of future Retainer(s) to be deferred shall be effective only with respect to Compensation accruing on and after the first day of the calendar year following the Election Date.  

3.1.3    Cessation of Deferrals.

A Participant may cease to defer future Compensation in the Deferred Fee Program by completing and executing a Modified Election Form, and delivering it to the Secretary of the Company.  An election by a Participant to cease deferrals in the Deferred Fee Program shall become effective with respect to a Participant's Retainer(s) on or after the first day of the first calendar year that begins after the Election Date.  

3.1.4    Beneficiary Election Modification.

A Participant shall be permitted at any time to modify his or her Beneficiary election, effective as of the Election Date, by completing and executing a Modified Election Form and delivering it to the Secretary of the Company.

3.2    Investments.

3.2.1    Accounts.

The Company shall establish an Account for each Participant and for each Beneficiary to whom installment distributions are being made.  On each Allocation Date, the

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 Company shall allocate to each Participant's Account an amount equal to his or her Deferred Amount.

3.2.2    Subaccounts.

The Company shall establish within each Account one or more Subaccounts.  The Subaccounts shall correspond to the Funds, as the same may change from time to time, under the Profit-Sharing Plan.  The Subaccounts shall be credited with earnings and charged with losses, if any, on the same basis as the corresponding Fund under the Profit-Sharing Plan, except that the Subaccount corresponding to the Common Stock Fund shall have a value based on a theoretical investment in the number of shares of Common Stock determined by dividing the Deferred Amount by the fair market value of a share of Common Stock on the date the Deferred Amount is credited to the Subaccount, and the Kraft Foods, Inc. stock Fund (renamed the Mondelēz International, Inc. stock Fund), the Philip Morris International Inc. stock Fund, and the Kraft Foods Group, Inc. stock Fund shall have a value based on a theoretical investment on the determination date in the number of shares existing in each such Subaccount as of such date.

To the extent additional funds are provided under the Profit-Sharing Plan, the Secretary of the Company or his designee is authorized to establish corresponding Subaccounts under the Plan.  The Secretary or his designee is authorized to limit or prohibit new investments or transfers into any Subaccount.  In connection with the spin-off from the Company of Kraft Foods Inc. and Philip Morris International Inc., each Participant with a Subaccount relating to Company Common Stock at the time of such spin-offs had new Subaccounts established and credited with shares of those respective companies in the same manner as if the Participant were a Company shareholder.  In connection with the spin-off from Kraft Foods Inc. (renamed Mondelēz International Inc.) of Kraft Foods Group, Inc., each Participant with a Subaccount holding Kraft Foods, Inc. (renamed Mondelēz International, Inc.) at the time of such spin-off shall have a new Subaccount established and credited with shares of Kraft Foods Group, Inc. in the same manner as if the participant were a Kraft Foods Inc. (renamed Mondelēz International, Inc.) shareholder.  New investments and transfers into the Subaccounts relating to shares of Mondelēz International, Inc., Philip Morris International Inc., and Kraft Foods Group, Inc. are not permitted.

Subject to the provisions of Sections 3.2.3 and 3.2.4, on each Allocation Date, each Participant's Subaccounts shall be credited with an amount equal to the Deferred Amount designated by the Participant for allocation to such Subaccounts.  Each Subaccount shall be credited with earnings and charged with losses as if the amounts allocated thereto had been invested in the corresponding Fund, provided that the Subaccount corresponding to the Common Stock Fund shall be credited with additional shares of Common Stock based on the amount of cash dividends that are paid from time to time on the number of shares of Common Stock with respect to which the Subaccount's value is determined, and provided further that dividends credited with respect to the Subaccounts relating to shares of Mondelēz International, Inc., Philip Morris International Inc., and Kraft Foods Group, Inc. and dividends credited with respect to any other rights or amounts measured by reference to an individual stock other than Common Stock 

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that a Participant has received or receives with respect to any Subaccount shall be allocated among and treated as invested proportionately in the Subaccounts most recently in effect for the investment of  Compensation deferred by the Participant (as determined by reference to such Participant's Election Form then in effect).

Except as provided with respect to certain dividends in the preceding paragraph, the value of any Subaccount at any relevant time shall be determined as if all amounts credited thereto had been invested in the corresponding Fund.

3.2.3    Investment Directions.

In connection with his or her initial Deferral Election, each Participant shall make an investment direction on his or her Initial Election Form with respect to the portion of such Participant's Deferred Amount that is to be allocated to a Subaccount.  Any apportionment of Deferred Amounts (and of increases or decreases in Deferred Amounts) among the Subaccounts shall be in integral multiples of one percent (1%).  An investment direction shall become effective with respect to any Subaccount on the first day of the calendar month following the Election Date.  All investment directions shall be irrevocable and shall remain in effect with respect to all future Deferred Amounts until a new irrevocable investment direction made by the Participant in accordance with Section 3.2.4 becomes effective.

3.2.4    New Investment Directions.

A Participant may make a new investment direction with respect to his or her Deferred Amount only by completing and executing a Modified Election Form and delivering it to the Secretary of the Company.  A new investment direction shall become effective with respect to any Subaccount on the first day of the calendar month following the Election Date.

3.2.5    Investment Transfers.

A Participant or a Beneficiary (after the death of the Participant may transfer to one or more different Subaccounts all or a part (not less than one percent (1%)) of the amounts credited to a Subaccount by completing and executing an Investment Transfer Election Form and delivering it to the Secretary of the Company; provided that any such transfer involving the Subaccount relating to the Company Stock Fund may only be made to the extent that such transfer would not result in a violation of Section 10(b) or Section 16(b) of the Securities Exchange Act of 1934 or any other applicable securities law.  

Any transfer of amounts among Subaccounts shall become effective on the first day of the calendar month following the Investment Transfer Election Date.

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3. 3    Distributions.

3.3.1    Distribution Elections.

Each Participant shall designate on his or her Election Form one of the following dates as a Distribution Date with respect to amounts credited to his or her Account thereafter:

		
	a.
	the fifteenth day of the calendar month following the Participant's separation from service, including by reason of Disability or the Participant's death;

		
	b.
	the fifteenth day of the earlier of (i) a calendar month and year specified by the Participant which is at least six months after the Election Date or (ii) the calendar month and year following the Participant's death; or

		
	c.
	the earlier to occur of a or b.

A Distribution Date election shall be effective only with respect to amounts attributable to service by the Participant on and after the Election Date and subsequent earnings credited with respect to such amounts.  Any election by a Participant for his or her Account to be paid upon his or her separation from service shall be applied in accordance with Internal Revenue Code section 409A.  No separation from service shall be deemed to occur until the Director ceases to serve on any and all of the Board of Directors of the Company and the board of directors of any other company with respect to which his service as a director began while such other company was a subsidiary of the Company.

A Participant may request on his or her Election Form that distributions from his or her Account be made in (i) a lump sum, (ii) no more than one-hundred eighty (180) monthly, sixty (60) quarterly or fifteen (15) annual installments or (iii) a combination of (i) and (ii).  Each installment shall be determined by dividing the Account balance by the number of remaining installments.  If a Participant receives a distribution from a Subaccount on an installment basis, amounts remaining in such Subaccount before payment shall continue to accrue earnings and incur losses in accordance with the terms of Section 3.2.2.  Except as stated in the next paragraph, all distributions shall be made to the Participant.

Upon the Participant's death, the balance remaining in the Participant's Account shall be payable to his or her Beneficiaries as set forth on the Participant's current Election Form or Forms.  Upon the death of a Beneficiary who is receiving distributions in installments, the balance remaining in the Account of the Beneficiary shall be payable to his or her estate in a lump sum, without interest, except to the extent that the Secretary of the Company permits a Participant to elect otherwise in accordance with the procedures of this Section 3.3, taking into account administrative feasibility and other constraints.

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All distributions shall be paid in cash and, except as provided in Section 3.3.3, shall be deemed to have been made from each Subaccount pro rata.

3.3.2    Modified Distribution Elections.

A Participant may modify his or her election as to Distribution Date and distribution form with respect to Compensation attributable to future service, with such modification to be effective beginning with the next calendar year and continuing thereafter, by completing and executing a modified Election Form and delivering it to the Secretary of the Company.

Notwithstanding any contrary provisions of this Plan other than the general requirement of compliance with the provisions of Code section 409A, Participants shall be offered the opportunity to elect on or before December 31, 2008, to change their existing elections as to the time or form of distribution of amounts credited to their Account, provided that the election shall apply only to amounts that would not otherwise be payable in 2008 and shall not cause an amount to be paid in 2008 that would not otherwise be payable in 2008.

3.3.3    Extraordinary Distributions.

Notwithstanding the foregoing, a Participant or Beneficiary (after the death of the Participant) may request an extraordinary distribution of all or part of the amount credited to his or her Account because of hardship.  A distribution shall be deemed to be "because of hardship" if such distribution is necessary to alleviate or satisfy an immediate and heavy financial need of the Participant and otherwise satisfies the requirements for the occurrence of an “unforeseeable emergency” within the meaning of Code section 409A(a)(2).

A request for an extraordinary distribution shall be made by completing and executing an Extraordinary Distribution Request Form and delivering it to the Secretary of the Company.  All extraordinary distributions shall be subject to approval by the Nominating, Corporate Governance and Social Responsibility Committee of the Board.

The Extraordinary Distribution Request Form shall indicate:

		
	a.
	the amount to be distributed from the Account; 

		
	b.
	the Subaccount(s) from which the distribution is to be made; and

		
	c.
	the "hardship" requiring the distribution.

The amount of any extraordinary distribution shall not exceed the amount determined by the Nominating, Corporate Governance and Social Responsibility Committee of the Board to be required to meet the immediate financial need of the applicant.

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An extraordinary distribution shall be made with respect to amounts credited to each Subaccount on the first day of the calendar month next following approval of the extraordinary distribution request by the Nominating, Corporate Governance and Social Responsibility Committee of the Board.  Upon approval of an extraordinary distribution request, any Deferral Election in place shall be cancelled prospectively.  A Participant may make a new Deferral Election for a future year in accordance with Section 3.1.2. 

SECTION 4.  General Provisions.

4.1    Unfunded Plan.

It is intended that the Plan constitute an "unfunded" plan for deferred compensation.  The Company may authorize the creation of trusts or other arrangements to meet the obligations created under the Plan; provided, however, that, unless the Company otherwise determines, the existence of such trusts or other arrangements is consistent with the "unfunded" status of the Plan.  Any liability of the Company to any person with respect to any grant under the Plan shall be based solely upon any contractual obligations that may be created pursuant to the Plan.  No such obligation of the Company shall be deemed to be secured by any pledge of, or other encumbrance on, any property of the Company.

4.2    Rules of Construction.

The Plan shall be construed and interpreted in accordance with Virginia law.  Headings are given to the sections of the Plan solely as a convenience to facilitate reference.  The reference to any statute, regulation, or other provision of law shall be construed to refer to any amendment to or successor of such provision of law.  Notwithstanding anything in this Plan to the contrary, the Plan shall be construed to reflect the intent of the Company that all elections to defer, distributions, and other aspects of the Plan shall comply with Code section 409A and any regulations and other guidance thereunder.  The Plan is also intended to be construed so that participation in the Plan will be exempt from Section 16(b) of the Exchange Act pursuant to regulations and interpretations issued from time to time by the Securities and Exchange Commission.

4.3    Withholding.

No later than the date as of which an amount first becomes includible in the gross income of the Participant for Federal income tax purposes with respect to any participation under the Plan, the Participant shall pay to the Company, or make arrangements satisfactory to the Company regarding the payment of, any Federal, state, local or foreign taxes of any kind required by law to be withheld with respect to such amount.

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4.4    Amendment.

The Plan may be amended by the Board, but no amendment shall be made that would impair prior Common Stock awards or the rights of a Participant to his or her Account without his or her consent.  In addition, no amendment may become effective until shareholder approval is obtained if the amendment (i) materially increases the benefits accruing to Participants under the Plan or (ii) modifies the eligibility requirements for participation in the Plan.

4.5    Duration of Plan.

The Company hopes to continue the Plan indefinitely, but reserves the right to terminate the Plan by appropriate action of the Board at any time.  Upon termination of the Plan, amounts then credited to each Account shall be paid in accordance with the Distribution Election then governing such Account or as otherwise provided in Section 3.3.1.

4.6    Assignability.

No Participant or Beneficiary shall have the right to assign, pledge or otherwise transfer any payments to which such Participant or Beneficiary may be entitled under the Plan other than by will or by the laws of descent and distribution or pursuant to a domestic relations order that meets the relevant requirements of a "qualified domestic relations order" (as defined by Section 414(p) of the Code).

4.7    Adoption of Procedures

The Secretary of the Company shall have the authority to adopt such procedures as are appropriate to administer the Plan.

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