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SECOND AMENDED AND RESTATED
  TENET 2001
  DEFERRED COMPENSATION PLAN    
  

 
 
 

SECOND AMENDED AND RESTATED
  TENET 2001 DEFERRED COMPENSATION PLAN    
  

 
  ARTICLE I
  
    PREAMBLE AND PURPOSE    
  

    1.1  Preamble.  This Second Amended and Restated Tenet 2001 Deferred Compensation
Plan (the "Plan") of Tenet Healthcare Corporation (the "Company"), adopted on July 24, 2001 by the Compensation Committee, amends and restates the First Amended and Restated Tenet Healthcare
Corporation 2001 Deferred Compensation Plan adopted on May 22, 2001. The Plan is intended to permit the Company to attract and retain a select group of management or highly compensated
employees and Directors of the Company. 

    Effective
as of December 5, 1995, the Company adopted the Tenet Executive Deferred Compensation and Supplemental Savings Plan (as the same has been amended from time to time,
the "Supplemental Plan"). The Company intends to transfer to this Plan amounts held for the benefit of certain participants in the Supplemental Plan, other than those balances held for the benefit of
physician-employees who participate in the Supplemental Plan and participants who are in pay-out status as of
December 31, 2000, under the Supplemental Plan. In addition, the Company may adopt one or more trusts to serve as a possible source of funds for the payment of benefits under this Plan. 

    1.2  Purpose.  Through this Plan, the Company intends to permit the deferral of
compensation and to provide additional benefits to Directors and a select group of management or highly compensated employees of the Company. Accordingly, it is intended that this Plan shall not
constitute a "qualified plan" subject to the limitations of Section 401 (a) of the Code, nor shall it constitute a "funded plan", for purposes of such requirements. It also is intended
that this Plan shall be exempt from the participation and vesting requirements of Part 2 of Title I of the Act, the funding requirements of Part 3 of Title I of the Act, and the
fiduciary requirements of Part 4 of Title I of the Act by reason of the exclusions afforded plans that are unfunded and maintained by an employer primarily for the purpose of providing deferred
compensation for a select group of management or highly compensated employees. 

 
 

ARTICLE II
  
    DEFINITIONS AND CONSTRUCTION    
  

    2.1  Definitions.  When a word or phrase appears in this Plan with the initial
letter capitalized, and the word or phrase does not commence a sentence, the word or phrase shall generally be a term defined in this Section 2.1. The following words and phrases with the
initial letter capitalized shall have the meaning set forth in this Section 2.1, unless a different meaning is required by the context in which the word or phrase is used. 

    (a) "Account" means one or more of the bookkeeping accounts maintained by the Company or its agent on behalf of a
Participant, as described in more detail in Section 4.3. 

    (b) "Act" means the Employee Retirement Income Security Act of 1974, as amended from time to time. 

    (c) "Affiliate" means a corporation that is a member of a controlled group of corporations (as defined in
Section 414(b) of the Code) that includes the Company, any trade or business (whether or not incorporated) that is in common control (as defined in Section 414(c) of the Code) with the
Company, or any entity that is a member of the same affiliated service group (as defined in Section 414(m) of the Code) as the Company. 

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    (d) "Annual Incentive Plan Award" means the amount payable to an Employee each year, if any, under the Company's 1997
Annual Incentive Plan, as the same may be amended, restated, modified, renewed or replaced from time to time. 

    (e) "Basic Deferral" means the Compensation deferral made by a Participant pursuant to Section 4.1(a). 

    (f)  "Beneficiary" means the person designated by the Participant to receive a distribution of his/her benefits under
the Plan upon the death of the Participant. If the Participant is married, his/her spouse shall be his/her Beneficiary, unless his/her spouse consents in writing to the designation of an alternate
Beneficiary. In the event that a Participant fails to designate a Beneficiary, or if the Participant's Beneficiary does not survive the Participant, the Participant's Beneficiary shall be his/her
surviving spouse, if any, or if the Participant does not have a surviving spouse, his/her estate. The term "Beneficiary" also shall mean a Participant's spouse or former spouse who is entitled to all
or a portion of a Participant's benefit pursuant to Section 6.1. 

    (g) "Board" means the Board of Directors of the Company. 

    (h) "Bonus" means (i) a bonus paid to a Participant in the form of an Annual Incentive Plan Award, or
(ii) any other bonus payment designated by the PAC as an eligible bonus under the Plan. 

    (i)  "Bonus Deferral" means the Bonus deferral made by a Participant pursuant to Section 4.1(b). 

    (j)  "Change of Control" of the Company shall be deemed to have occurred if either (i) any person, as such term
is used in Section 13(c) and 14(d)(2) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), is or becomes the beneficial owner, directly or indirectly, of securities of the
Company representing 20% or more of the combined voting power of the Company's then outstanding securities, or (ii) individuals who, as of August 1, 2000, constitute the Board of the
Company (the "Incumbent Board") cease for any reason to constitute at least a majority of the Board at any time; provided, however, that (a) any individual who becomes a director of the Company
subsequent to August 1, 2000, whose election, or nomination for election by the Company's stockholders, was approved by a vote of at least a majority of directors then comprising the Incumbent
Board shall be deemed to have been a member of the Incumbent Board, and (b) no individual who is elected initially (after August 1, 2000) as a director as a result of an actual or
threatened election contest, as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act or any other actual or threatened solicitations of
proxies or consent by or on behalf of any person other than the Incumbent Board shall be deemed to have been a member of the Incumbent Board. 

    (k) "Code" means the Internal Revenue Code of 1986, as amended from time to time. 

    (l)  "Company" means Tenet Healthcare Corporation. 

    (m) "Compensation" means base salaries, commissions, and certain other amounts of cash compensation payable to the
Participant during the Plan Year. Compensation shall exclude cash bonuses, foreign service pay, hardship withdrawal allowances and any other pay intended to reimburse the Employee for the higher cost
of living outside the United States, Annual Incentive Plan Awards, automobile allowances, ExecuPlan payments, housing allowances, relocation payments, deemed income, income payable under stock
incentive plans, Christmas gifts, insurance premiums, and other imputed income, pensions, retirement benefits, and contributions to and payments from the 401 (k) Plan and this Plan. The term
"Compensation" for Directors shall mean any cash compensation from retainers, meeting fees and committee fees paid during the Plan Year. 

    (n) "Compensation Committee" means the Compensation Committee of the Board, which has the authority to amend and
terminate the Plan as provided in Article X. The Compensation Committee also will be responsible for determining the amount of the Discretionary Contribution and Supplemental Director
Contribution, if any, to be made by the Company. 

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    (o) "Compensation Deferrals" means the Basic Deferrals, Supplemental Deferrals and Discretionary Deferrals made pursuant
to Section 4.1 of the Plan. 

    (p) "Covered Person" means a covered employee within the meaning of Code Section 162(m)(3) or an Employee
designated as a Covered Person by the Compensation Committee. 

    (q) "Director" means a member of the Board who is not an Employee of the Company. 

    (r) "Disability" means the total and permanent incapacity of a Participant, due to physical impairment or mental
incompetence, to perform the usual duties of his/her employment with the Company or an Affiliate. Disability shall be determined by the Plan Administrator on the basis of (i) evidence that the
Participant has become entitled to receive benefits from a Company sponsored long-term disability plan or (ii) evidence that the Participant has become entitled to receive primary
benefits as a disabled employee under the Social Security Act in effect on such date of Disability or (iii) in the case of Directors, such evidence that the Plan Administrator deems
appropriate. 

    (s) "Discretionary Contribution" means the contribution made by the Company on behalf of a Participant as described in
Section 4.2(b). 

    (t)  "Discretionary Deferral" means the Compensation deferral described in Section 4.1 (d) made by a
Participant. 

    (u) "Effective Date" means January 1, 2001. 

    (v) "Election Form" means the written form(s) provided by the PAC or the Plan Administrator pursuant to which the
Participant consents to participation in the Plan and makes elections with respect to deferrals, requested investment crediting rates and distributions hereunder. 

    (w) "Eligible Employee" means (i) each Employee who is eligible for the Company's Annual Incentive Plan Award for
the applicable Plan Year, (ii) each Director and (iii) all aviation personnel who are designated as captains. In addition, the term "Eligible Employee" shall include any Employee
designated as an Eligible Employee by the PAC. The PAC may, in its sole and absolute discretion, limit the classification of Employees who are eligible to participate in the Plan for a Plan Year
without the need for an amendment to the Plan. Any such limitation shall be set forth in a resolution by the PAC and attached hereto as an Exhibit to the Plan. 

    (x) "Emergency" means a Foreseeable Emergency or Unforeseeable Emergency that makes a Participant eligible for a
Financial Necessity Distribution under Section 5.5. 

    (y) "Employee" means each select member of management or highly compensated employee receiving remuneration, or who is
entitled to remuneration, for services rendered to the Company or to an Affiliate who has adopted this Plan, in the legal relationship of employer and employee. 

    (z) "Fair Market Value" means the closing price of a share of Stock on the New York Stock Exchange on the date as of
which fair market value is to be determined. 

    (aa) "Foreseeable Emergency" means a severe financial hardship to the Participant resulting from an event that, although
foreseeable, is outside the Participant's control, as determined by the Plan Administrator in its sole and absolute discretion. Such potentially foreseeable but uncontrollable events include the
following: 

     (i) expenses
for medical care described in Section 213(d) of the Code incurred by the Participant, the Participant's spouse, or any dependents of the Participant
(as defined in Section 152 of the Code) or necessary for those persons to obtain medical care described in Section 213(d) of the Code; (ii) such other events deemed by the Plan
Administrator, in its sole and absolute discretion, to constitute a Foreseeable Emergency. 

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    (bb) "401 (k) Plan" means the Tenet Healthcare Corporation Retirement Savings Plan or the Tenet 401
(k) Retirement Savings Plan, as such plans may be amended, restated, modified, renewed or replaced from time to time. 

    (cc) "Matching Contribution" means the contribution made by the Company pursuant to Section 4.2(a) on behalf of a
Participant who either makes Supplemental Deferrals to the Plan as described in Section 4.1 (c), or is not eligible for an employer matching contribution under the 401 (k) Plan. 

    (dd) "Non-Scheduled Withdrawal" means an election by a Participant in accordance with Section 5.4 to
receive a withdrawal of amounts from his/her Account prior to the time at which such Participant otherwise would be entitled to such amounts. 

    (ee) "Open Enrollment Period" means the period prior to the beginning of the Plan Year during which an Eligible Employee
may make his/her elections concerning Compensation Deferrals pursuant to Article IV, and distribution elections in accordance with Article V. 

    (ff) "PAC" means the Pension Administration Committee of the Company established by the Compensation Committee of the
Board, and whose members have been appointed by such Compensation Committee. The PAC shall have the responsibility to administer the Plan and make final determinations regarding claims for benefits,
as described in Article VIII. 

    (gg) "Participant" means each Eligible Employee who has been designated for participation in this Plan and each Employee
or former Employee whose participation in this Plan has not terminated. 

    (hh) "Plan" shall have the meaning set forth in Section 1.1 above. 

    (ii) "Plan Administrator" means the individual or entity appointed by the PAC to handle the
day-to-day administration of the Plan, including but not limited to determining a Participant's eligibility for benefits and the amount of such benefits and complying with all
applicable reporting and disclosure obligations imposed on the Plan. If the PAC does not appoint an individual or entity as Plan Administrator, the PAC shall serve as the Plan Administrator. 

    (jj) "Plan Year" means the fiscal year of this Plan, which shall commence on January 1 each year and end on
December 31 of such year. 

    (kk) "Scheduled Withdrawal Date" means the distribution date elected by the Participant for an in-service
withdrawal of amounts of Basic Deferrals and Bonus Deferrals deferred in a given Plan Year, and earnings or losses attributable thereto, as set forth on the Election Form for such Plan Year. 

    (ll) "Stock" means the common stock, par value $0.075 per share, of the Company. 

    (mm)"Stock Unit" means a non-voting, non-transferable unit of measurement that is deemed for
bookkeeping and distribution purposes only to represent one outstanding share of Stock. 

    (nn) "Supplemental Deferral" means the Compensation Deferral described in Section 4.1(c). 

    (oo) "Supplemental Director Contribution" means the contribution made by the Company on behalf of a Director as
described in Section 4.2(c). 

    (pp) "Supplemental Plan" shall have the meaning set forth in Section 1.1 of this Plan. 

    (qq) "Unforeseeable Emergency" means a severe financial hardship to the Participant resulting from (i) a sudden
and unexpected illness or accident of the Participant or one of the Participant's dependents (as defined under Section 152(a) of the Code); (ii) loss of the Participant's property due to
casualty; or (iii) such other similar extraordinary and unforeseeable circumstances arising as a result of an unforeseeable event or events beyond the control of the Participant, as determined
by the Plan Administrator in its sole and absolute discretion. 

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    2.2  Construction.  If any provision of this Plan is determined to be for any
reason invalid or unenforceable, the remaining provisions of this Plan shall continue in full force and effect. All of the provisions of this Plan shall be construed and enforced in accordance with
the laws of the State of California and shall be administered according to the laws of such state, except as otherwise required by the Act, the Code or other applicable federal law. The term
"delivered to the PAC or Plan Administrator," as used in this Plan, shall include delivery to a person or persons designated by the PAC or Plan Administrator, as applicable, for the disbursement and
the receipt of administrative forms. Delivery shall be deemed to have occurred only when the form or other communication is actually received. Headings and subheadings are for the purpose of reference
only and are not to be considered in the construction of this Plan. 

 
 

ARTICLE III
  
    PARTICIPATION AND FORFEITABILITY OF BENEFITS    
  

    3.1  Eligibility and Participation.  It is intended that eligibility to
participate in the Plan shall be limited to Eligible Employees, as determined by the PAC, in its sole and absolute discretion. Prior to the beginning of each Plan year, each Eligible Employee will be
contacted and informed that he/she may elect to defer portions of his/her Compensation and/or Bonus and shall be provided with an Election Form, investment crediting rate preference designation and
such other forms as the PAC or the Plan Administrator shall determine. An Eligible Employee shall become a Participant by completing all required forms and making a deferral election pursuant to
Section 4.1. Eligibility to become a Participant for any Plan Year shall not entitle an Eligible Employee to continue as an active Participant for any subsequent Plan Year. 

    If
an Eligible Employee is hired/retained during the Plan Year and designated by the PAC to be a Participant for such year, such Eligible Employee may elect to participate within
30 days from the date he/she is notified that he/she is eligible to participate in the Plan, for the remainder of such Plan Year, by completing all required forms and making a deferral election
pursuant to Section 4.1. Designation as a Participant for the Plan Year in which he/she is hired/retained shall not entitle the Eligible Employee to continue as an active Participant for any
subsequent Plan Year. 

    A
Participant under this Plan who separates from employment with the Company, or who ceases to be a Director, will continue as an inactive Participant under this Plan until the
Participant has received payment of all amounts payable to him/her under this Plan. In the event that an Eligible Employee shall cease active participation in the Plan because the Eligible Employee is
no longer described as a Participant pursuant to this Section 3.1, or because he/she shall cease making deferrals of Compensation and/or Bonuses, the Eligible Employee shall continue as an
inactive Participant under this Plan until he/she has received payment of all amounts payable to him/her under this Plan. 

    3.2  Forfeitability of Benefits.  Except as provided in Section 5.4 and
Section 6.1, a Participant shall at all times have a nonforfeitable right to amounts credited to his/her Account pursuant to Section 4.3, subject to the distribution provisions of
Article V. As provided in Section 7.2, however, each Participant shall be only a general creditor of the Company or the Participant's employing Affiliate with respect to the payment of
any benefit under this Plan. 

 
 

ARTICLE IV
  
    DEFERRAL, COMPANY CONTRIBUTIONS, ACCOUNTING
  AND INVESTMENT CREDITING RATES    
  

    4.1  Deferral.  An Eligible Employee who is designated by the PAC to be an
Eligible Employee for a Plan Year may become a Participant for such Plan Year by electing to defer Compensation and/or his/her Bonus pursuant to an Election Form. Such Election Form shall be submitted
to the Company 

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not later than a date to be set by the Plan Administrator and shall be effective with respect to deferral elections with the first paycheck dated on or after the next following January 1. In
the case of an Eligible Employee who is hired/retained during the Plan Year, the Election Form shall be entered into within 30 days after the Eligible Employee is provided with notice of
his/her eligibility to participate in the Plan and shall only be effective with respect to deferral elections with respect to Compensation and/or Bonuses earned after the date such Election Form is
received by the Plan Administrator. A Participant's Election Form shall only be effective with respect to a single Plan Year and shall be irrevocable for the duration of such Plan Year. Deferral
elections for each subsequent Plan Year of participation shall be made pursuant to a new Election Form. 

    Compensation
deferred by a Participant may be distributed, at the Participant's election, either in a lump sum or, in certain instances as described herein, in equal monthly
installments over a period of not less than one year nor more than 15 years. On each Election Form, the Participant shall specify the method in which Compensation and/or Bonuses deferred under
the Plan shall be paid. If the Participant, during the Open Enrollment Period, elects a different method of payment on a subsequent Election Form, such form of payment election shall supersede any
prior payment elections made on an earlier Election Form, provided such election has been in effect for 12 months. 

    Four
types of deferrals may be made under the Plan: 

    (a) Basic Deferral. Each Eligible Employee may elect to defer a stated dollar amount, or designated full percentage, of
Compensation to the Plan up to a maximum percentage of 75% (100% for Directors) of the Eligible Employee's Compensation for such Plan Year. The Company shall not make any Matching Contributions with
respect to any Basic Deferrals made to the Plan. 

    (b) Bonus Deferral. Each Eligible Employee may elect to defer a stated dollar amount, or designated full percentage, of
his/her Bonus to the Plan up to a maximum percentage of 100% (97% if a Supplemental Deferral is elected pursuant to Section 4.1(c)) of the Employee's Bonus for such Plan Year. The Company shall
not make any Matching Contributions with respect to any Bonus Deferrals made to the Plan. 

    (c) Supplemental Deferral. Each Eligible Employee may elect to make Supplemental Deferrals to the Plan in accordance
with the following provisions of this Section 4.1(c). 

     (i) Statutory Limits. Each Eligible Employee who is also a participant in the 401 (k) Plan may elect to
automatically have 3% of his/her Compensation deferred under the Plan when he/she reaches any of the following statutory limitations under the 401 (k) Plan: (A) the limitation on
Compensation under Section 401(a)(17) of the Code, as such limit is adjusted for cost of living increases; (B) the limitation imposed on elective deferrals under Section 402(g) of
the Code, as such limit is adjusted for cost of living increases; (C) the limitations on contributions and benefits under Section 415 of the Code; or (D) the limitations on
contributions imposed by the 401(k) Plan administrator in order to satisfy the limitations on contributions under sections 401 (k) and 401 (m) of the Code. 

    (ii) Bonus. Each Eligible Employee who is also a participant in the 401 (k) Plan may elect to automatically have
3% of his/her Bonus deferred under the Plan as a Supplemental Deferral whether or not the Eligible Employee has reached the statutory limitations under the 401 (k) Plan described in
Section 4.1(c)(i). This Supplemental Deferral shall be applied to that portion of the Eligible Employee's Bonus in excess of that deferred as a Bonus Deferral under Section 4.1(b). For
example, if the Eligible Employee elects to defer 50% of his/her Bonus under Section 4.1(b) and also elects to make a Supplemental Deferral under this Section 4.1(c), 50% of the Eligible
Employee's Bonus will be deferred under Section 4.1(b) and 3% of the Eligible Employee's Bonus will be deferred under this Section 4.1(c). 

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    (iii) 401(k) Plan Before-Tax Savings Contribution Eligibility. Each Eligible Employee who elects to
participate in this Plan prior to the date on which he/she becomes eligible to make before-tax savings contributions to the 401(k) Plan, may elect, until such 401(k) Plan
before-tax contribution eligibility date, to defer 3% of his/her Compensation under the Plan as a Supplemental Deferral for such Plan Year. Upon the Eligible Employee's 401 (k) Plan
before-tax contribution eligibility date, his/her Supplemental Deferrals under this Section 4.1(c)(iii) shall cease and any subsequent Supplemental
Deferrals shall only be made by the Employee pursuant to Section 4.1(c)(i) or Section 4.1(c)(ii), as applicable. 

    (d) Discretionary Deferral. The PAC may authorize an Eligible Employee to defer a stated dollar amount, or designated
full percentage, of Compensation to the Plan as a Discretionary Deferral. The PAC, in its sole and absolute discretion, may limit the amount or percentage of Compensation an Eligible Employee may
defer to the Plan as a Discretionary Deferral. The Company shall not make any Matching Contributions pursuant to Section 4.2(a) with respect to any Discretionary Deferrals, but may elect to
make a Discretionary Contribution to the Plan with respect to such Discretionary Deferrals in the form of a discretionary matching contribution as described in Section 4.2(b). 

    4.2  Company Contributions.  

    (a)  Matching Contribution.  The Company shall make a Matching Contribution to the Plan each Plan Year on
behalf of each Participant who makes a Supplemental Deferral to the Plan. Such Matching Contribution shall equal 100% of the Participant's Supplemental Deferrals for such Plan Year. In addition, the
Company shall make a Matching Contribution to the Plan for the Plan Year on behalf of each Participant who is eligible to participate in the 401 (k) Plan but is not eligible to receive an
employer matching contribution under the 401 (k) Plan by reason of the one year eligibility service requirement. Such Matching Contribution shall equal 3% of the Participant's Compensation
earned during the period beginning on the date on which such Participant elects to make Supplemental Deferrals to the Plan in accordance with Section 4.1(c)(iii). 

    (b)  Discretionary Contribution.  The Company may elect to make a Discretionary Contribution to a
Participant's Account in such amount, and at such time, as shall be determined by the Compensation Committee. If a Participant who is a Covered Person receives a Discretionary Contribution, that
Participant shall not be permitted to receive that Discretionary Contribution until such Participant's employment with the Company is terminated; provided, however, that if such Participant has
elected to receive a distribution upon the occurrence of a Change of Control and a Change of Control occurs, such Participant shall be entitled to receive such Change of Control distribution in
accordance with Section 5.9 of this Plan. 

    (c)  Supplemental Director Contribution.  The Company shall make a Supplemental Director Contribution to
the Plan on behalf of each Director who makes a Basic Deferral and makes a request for amounts deferred to be invested in Stock Units pursuant to Section 4.4(b). On each date on which a
Director's Basic Deferral is invested in Stock Units, the Company will make a Supplemental Director Contribution in an amount equal to 15% of the amount of the Director's Basic Deferral invested in
Stock Units on such date. Such Supplemental Director Contribution shall be invested in Stock Units for the account of such Director. 

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    4.3  Accounting for Deferred Compensation.  

    (a)  Cash Account.  If a Participant has made an election to defer his/her Compensation and/or Bonus and
has made a request for amounts deferred to be invested pursuant to Section 4.4(a), the Company may, in its sole and absolute discretion, establish and maintain a cash Account for the
Participant under this Plan. Each cash Account shall be adjusted at least quarterly to reflect the Basic Deferrals, Bonus Deferrals, Supplemental Deferrals, Discretionary Deferrals, Matching
Contributions and Discretionary Contributions credited thereto, earnings or losses credited on such Basic Deferrals, Bonus Deferrals, Supplemental Deferrals, Discretionary Deferrals, Matching
Contributions and Discretionary Contributions, and any payment or withdrawal of such Basic Deferrals, Bonus Deferrals, Supplemental Deferrals, Discretionary Deferrals and, Matching Contributions and
Discretionary Contributions. The amounts of Basic Deferrals, Bonus Deferrals, Supplemental Deferrals, Discretionary Deferrals and Matching Contributions shall be credited to the Participant's cash
Account within five business days of the date on which such Compensation and/or Bonus would have been paid to the Participant had the Participant not elected to defer such amount pursuant to the terms
and provisions of the Plan. Any Discretionary Contributions shall be credited to each Participant's cash Account at such times as determined by the Compensation Committee. In the sole and absolute
discretion of the Plan Administrator, more than one cash Account may be established for each Participant to facilitate record-keeping convenience and accuracy. Each such cash Account shall be credited
and adjusted as provided in this Plan. 

    (b)  Stock Unit Account.  If a Participant has made an election to defer his/her Compensation and/or
Bonus and has made a request for amounts deferred to be invested in Stock Units pursuant to Section 4.4(b), the Company may, in its sole and absolute discretion, establish and maintain a Stock
Unit Account and credit the Participant's Stock Unit Account, within five business days of the date on which such Compensation and/or Bonus otherwise would have been payable, with a number of Stock
Units determined by dividing an amount equal to the Basic Deferrals, Bonus Deferrals, Supplemental Deferrals, Discretionary Deferrals, Matching Contributions and Discretionary Contributions made as of
such date by the Fair Market Value of a share of Stock on the fifth day following the date such Compensation and/or Bonus otherwise would have been payable. In the sole and absolute discretion of the
Plan Administrator, more than one Stock Unit Account may be established for each Participant to facilitate record-keeping convenience and accuracy. 

     (i) The
Stock Units credited to a Participant's Stock Unit Account shall be used solely as a device for determining the number of shares of Stock eventually to be
distributed to the Participant in accordance with this Plan. The Stock Units shall not be treated as property of the Participant or as a trust fund of any kind. No Participant shall be entitled to any
voting or other stockholder rights with respect to Stock Units credited under this Plan. 

    (ii) If
the outstanding shares of Stock are increased, decreased, or exchanged for a different number or kind of shares or other securities, or if additional shares or
new or different shares or other securities are distributed with respect to such shares of Stock or other securities, through merger, consolidation, spin-off, sale of all or substantially
all the assets of the Company, reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split or other distribution with respect to such shares of Stock or other
securities, an appropriate and proportionate adjustment shall be made by the Compensation Committee in the number and kind of Stock Units credited to a Participant's Stock Unit Account. 

    (c)  Accounts Held in Trust.  Amounts credited to Participants' Accounts may be secured by one or more
trusts, as provided in Section 7.1, but shall be subject to the claims of the Company's general creditors. Although the principal of such trust and any earnings or losses thereon shall be
separate and apart from other funds of the Company and shall be used for the purposes set forth therein, neither the Participants nor their Beneficiaries shall have any preferred claim on, or any
beneficial ownership 

9

 

in, any assets of the trust prior to the time such assets are paid to the Participant or Beneficiaries as benefits and all rights created under this Plan shall be unsecured contractual rights of Plan
Participants and Beneficiaries against the Company. Any assets held in the trust shall be subject to the claims of the Company's general creditors under federal and state law in the event of
insolvency. The assets of any trust established pursuant to this Plan shall never inure to the benefit of the Company and the same shall be held for the exclusive purpose of providing benefits to
Participants and their beneficiaries. 

    4.4  Investment Crediting Rates.  At the time of making a deferral election
described in Section 4.1, the Participant shall request on an Election Form the type of investment crediting rate option with which the Participant would like the Company, in its sole and
absolute discretion, to credit the Participant: one of several investment crediting rate options payable in cash or an investment crediting rate option based on the performance of the price of the
Company's Stock and payable in the Company's Stock. 

    (a) Cash Investment Crediting Rate Options.  A Participant may request on an Election Form the type of
investment in which the Participant would like amounts deferred by the Participant to be deemed invested for purposes of determining the amount of earnings or losses to be credited or losses to be
debited to his/her cash Account. The Participant shall specify his/her preference from among the following possible investment crediting rate options: 

     (i) An
annual rate of interest equal to 1% below the prime rate of interest as quoted by Bloomberg, compounded daily; or 

    (ii) One
or more benchmark mutual funds. 

A
Participant may change, on a daily basis, the investment crediting rate preference under this Section 4.4(a) by filing an election in such manner as shall be determined by the PAC.
Notwithstanding any request made by a Participant, the Company, in its sole and absolute discretion, shall determine the investment rate with which to credit amounts deferred by Participants under
this Plan, provided, however, that if the Company chooses an investment crediting rate other than the investment crediting rate requested by the Participant, such investment crediting rate cannot be
less than (i) above. 

    (b) Stock Units.  A Participant may request on an Election Form to have amounts deferred by him/her
invested in Stock Units. Deferrals invested in Stock Units are irrevocable and shall be distributed in an equivalent whole number of shares of Stock. Any fractional share interests shall be paid in
cash with the last distribution. 

    (c) Deemed Election.  In his/her request(s) pursuant to this Section 4.4, the Participant may
request that all or any multiple of his/her Account (in whole percentage increments) be deemed invested in one or more of the investment crediting rate preferences provided under the Plan as
communicated from time to time by the PAC. Although a Participant may express an investment crediting rate preference, the Company shall not be bound by such request. If a Participant fails to set
forth his/her investment crediting rate preference under this Section 4.4, he/she shall be deemed to have elected an annual rate of interest equal to 1% below the prime rate of interest as
quoted by Bloomberg, compounded daily. The PAC shall select from time to time, in its sole and absolute discretion, the possible investment crediting rate options to be offered on a Participant's
deferrals and contributions for any Plan Year. 

    (d) Transferred Accounts.  The Company retains the right in its sole and absolute discretion to transfer
a Participant's Supplemental Plan account balance, as the Company deems appropriate, from the Supplemental Plan to this Plan. In the event that the Company determines that a transfer of a
Participant's Supplemental Plan account balance to this Plan is appropriate, a Participant shall be permitted to express an investment crediting rate preference with respect to such transferred
amounts. In the event a Participant's Supplemental Plan account balance is transferred from the 

10

 

Supplemental Plan to this Plan, such transferred amount shall be treated in all other respects as if such amount were initially deferred pursuant to the terms of this Plan. 

    (e) Company Contributions.  Contributions to the Plan made by the Company and allocated to a
Participant's Account pursuant to Section 4.2 shall be invested in accordance with the investment crediting rate requested by such Participant on his/her Election Form for the relevant Plan
Year. 

 
 

ARTICLE V
  DISTRIBUTION OF BENEFITS

    5.1 General Rules.  A Participant may elect to receive payment on Basic Deferrals and Bonus Deferrals,
and earnings or losses thereon, at any of the following times: 

    (a) As
soon as practicable after termination of a Participant's employment, retirement, Disability or death; 

    (b) On
the first January following, or on the second January following, but not later than the second January following, the Participant's termination of employment,
retirement, Disability or death; or 

    (c) At
a specified future date while still in the employ of the Company. 

    Supplemental
Deferral Balances and earnings or losses thereon, are distributable only upon a Participant's termination of employment, retirement, Disability or death. 

    All
distributions from the Plan shall be taxable as ordinary income when received and subject to appropriate withholding of income taxes. 

    5.2  Distributions Resulting from Termination.  In the case of a Participant who
terminates employment with the Company for any reason and has an Account balance of $100,000 or less, such Participant shall be paid the balance in his/her Account in a lump sum in accordance with
Section 5.1. 

    A
Participant who has an Account balance in excess of $100,000 may elect either a lump sum distribution or monthly installments over a period of not less than one nor more than
15 years. Such Participant's Election Form that has been in effect for at least 12 months and made during an Open Enrollment Period shall govern the form of distribution. In the event a
Participant elects monthly installments, such installment payments will begin in accordance with Section 5.1(a) or 5.1(b). All amounts held for a Participant's or Beneficiary's benefit shall be
revalued annually if paid in installments. 

    5.3  Scheduled In-Service Withdrawals.  In the case of a Participant
who, while still in the employ of the Company, has elected a Scheduled Withdrawal Date for distribution of his/her Basic Deferrals and Bonus Deferrals, and earnings or losses thereon, such Participant
shall receive a lump sum payment that must occur at least two calendar years after the end of the Plan Year in which the Basic and Bonus Deferrals occurred. A Participant may extend the Scheduled
Withdrawal Date with respect to Basic Deferrals and Bonus Deferrals for any Plan Year, provided (i) such extension occurs at least one year before the Scheduled Withdrawal Date,
(ii) such extension is for a period of not less than two years from the Scheduled Withdrawal Date, (iii) the Participant may not extend the Scheduled Withdrawal Date more than two times
and (iv) any such extension shall be effective only if consented to by the PAC. All such lump sum distributions will be paid in the January of the year specified on the election form. 

    If
a Participant retires, terminates employment, incurs a Disability or dies prior to any Scheduled Withdrawal Date, the Scheduled In-Service Withdrawal will be
disregarded and waived and the Participant's Account balance will be distributed after the Participant's retirement, death, Disability or 

11

 

termination of employment in the same form of distribution elected with respect to retirement, death, Disability or termination. 

    5.4  Non-Scheduled Withdrawals.  A Participant shall be permitted to
elect a Non-Scheduled Withdrawal, subject to the following restrictions: 

    (a) The
election to take a Non-Scheduled Withdrawal shall be made by filing a form provided by and filed with the PAC prior to the end of any calendar
month. 

    (b) The
amount of the Non-Scheduled Withdrawal shall in all cases not exceed 90% of the gross amount of a Participant's Account balance. 

    (c) The
amount described in subsection (b) above shall be paid in a lump sum as soon as practicable after the end of the month in which the
Non-Scheduled Withdrawal election is made. 

    (d) If
a Participant receives a Non-Scheduled Withdrawal from his/her Account, the Participant shall permanently forfeit an amount equal to 10% of the gross
amount of the Non-Scheduled Withdrawal and the Company shall have no obligation to the Participant or his/her Beneficiary with respect to such forfeited amount. 

    (e) If
a Participant receives a Non-Scheduled Withdrawal of any part of his/her Account, the Participant will be ineligible to participate in the Plan for
the balance of the Plan Year and the next following Plan Year. 

    5.5  Financial Necessity Distributions.  

    (a) Unforeseeable Emergency.  Upon application by the Participant, the Plan Administrator, in its sole
and absolute discretion, may direct payment of all or a portion of the Basic Deferrals, Bonus Deferrals and/or Discretionary Deferrals credited to the Account of a Participant prior to his/her
separation from employment or termination as a Director in the event of an Unforeseeable Emergency. Any such application shall set forth the circumstances constituting such Unforeseeable Emergency. 

    In
addition to the deferrals specified in this Section 5.5(a), upon application by the Participant, the Plan Administrator, in its sole and absolute discretion, may direct
payment of all or a portion of the Supplemental Deferrals credited to the Account of the Participant prior to his/her separation from employment or termination as a Director in the event of an
Unforeseeable Emergency. Such application and payment shall be subject to the same conditions and limitations as a request for any other payment of deferrals under this Section 5.5. 

    (b) Foreseeable Emergency.  Upon application by the Participant, the Plan Administrator, in its sole and
absolute discretion, may direct payment of all or a portion of the Basic Deferrals, Bonus Deferrals and/or Discretionary Deferrals credited to the Account of a Participant prior to his/her separation
from employment or termination as a Director in the event of an Foreseeable Emergency. Any such application shall set forth the circumstances constituting such Foreseeable Emergency. 

    (c) General Rules Regarding Financial Necessity Distributions.  The Plan Administrator may not direct
payment of any Basic Deferrals, Bonus Deferrals, Supplemental Deferrals, and/or Discretionary Deferrals credited to the Account of a Participant to the extent that such an Emergency is or may be
relieved (i) by reimbursement or compensation by insurance or otherwise or (ii) by cessation of Basic Deferrals, Bonus Deferrals and/or Discretionary Deferrals under this Plan. In the
event that the Plan Administrator, in its sole and absolute discretion, shall determine that such Emergency may be alleviated by such cessation of deferrals under the Plan, the Plan Administrator
shall deny such financial necessity distribution and require the cancellation of the Participant's Basic Deferral, Bonus Deferral and/or Discretionary Deferral elections for the Plan 

12

 

Year in which an Emergency shall occur. Conversely, if the Plan Administrator, in its sole and absolute discretion, shall determine that such Emergency may not be alleviated by such cessation of Basic
Deferrals, Bonus Deferrals and/or Discretionary Deferrals, it may approve such financial necessity
distribution. Any distribution from the Plan due to Emergency shall be permitted only to the extent necessary to satisfy such Emergency, in the sole and absolute discretion of the Plan Administrator,
both with respect to the determination as to whether an Emergency exists and also with respect to determination of the amount distributable. The Plan Administrator may permit a financial necessity
distribution under this Section 5.5, but as a result the Participant will be ineligible to participate in the Plan for the balance of the Plan Year and the next following Plan Year. 

    5.6  Elective Distributions.  A Participant may elect to receive a distribution
of amounts credited to his/her Account upon a determination by the Internal Revenue Service or a state taxing authority of competent jurisdiction that amounts credited to such Account are subject to
inclusion in the gross income of such Participant or Beneficiary for federal or state income tax purposes. Neither the PAC nor the Plan Administrator shall have any obligation to determine whether any
such determination is or has been made with respect to any Participant and shall assume that no such determination has been made until advised by the Participant, in writing, that such determination
has been made and that either such determination is final and binding, or that obtaining judicial review of such determination is not reasonably likely to result in a reversal of such determination or
is economically prohibitive. 

    5.7  Death of a Participant.  If a Participant dies while employed by the
Company, the Participant's Account balance will be paid to the Participant's Beneficiary in the manner elected by the Participant. 

    In
the event a terminated Participant dies while receiving installment payments, the remaining installments shall be paid to the Participant's Beneficiary as such payments become due. 

    In
the event a terminated Participant dies before receiving his/her lump sum payment or before he/she begins receiving installment payments, the lump sum payment or installment
payments shall be paid to the Participant's Beneficiary as such payments become due. 

    5.8  Disability of a Participant.  In the event of the Disability of the
Participant, the Participant shall be entitled to a distribution of the Participant's Account balance in the manner elected in advance by the Participant and, if applicable, in accordance with
Section 6.2. 

    5.9  Change of Control.  A Participant may, during an Open Enrollment Period,
file an Election Form in which the Participant elects to receive a lump sum distribution of his/her Account balance in the event that a Change of Control, as defined in Section 2.1(j), occurs.
The Participant's election with respect to a distribution of his/her Account in the event of a Change of Control must have been in effect for 12 months prior to the time of the Change of
Control. If elected, payment will be made as soon as practicable, but in any event not more than six months, after the occurrence of a Change of Control. 

    Notwithstanding
any provision in this Plan to the contrary, to the extent that any portion of the lump sum distribution is characterized as a parachute payment within the meaning of
Proposed Regulations
Section 1.280G-1 Q/A-24, or any similar Regulations, then in no event shall the present value of such parachute payment, when added to the present value of all other
parachute payments received as a result of a Change of Control, exceed 299% of the Participant's "base amount" as that term is defined in Section 280G of the Code. 

    If
a Participant has elected to receive a lump sum distribution of his/her Account balance in the event of a Change of Control, a portion of which distribution is characterized as a
parachute payment, and such portion, when added to the present value of all other parachute payments to be received as a result of a Change of Control, exceeds an amount equal to 299% of the
Participant's base amount, 

13

 

then the Participant may elect (a) to revoke the election made pursuant to this Section 5.9, or (b) to receive in a lump sum distribution that portion of his/her Account balance
which does not result in a parachute payment with the remainder being distributed in accordance with the Participant's election under Section 5.1. 

    5.10  Withholding.  Any taxes or other legally required withholdings from
Compensation and Bonus deferrals and/or payments to Participants or Beneficiaries hereunder shall be deducted and withheld by the Company, benefit provider or funding agent as required pursuant to
applicable law. A Participant or Beneficiary shall be provided with a tax withholding election form for purposes of federal and state tax withholding, if applicable. 

    5.11  Suspension of Benefits.  If a Participant terminates service and begins
receiving installment distributions and such Participant is reemployed by the Company, then such Participant's installment distributions shall be suspended during the period of his/her reemployment.
Upon the Participant's subsequent termination of service, such installment distributions shall recommence in the same form as they were being paid before the reemployment, unless during the period of
the Participant's reemployment he/she is eligible to participate in the Plan and elects a different form of payment on his/her Election Form in accordance with this Article V. 

 
 

ARTICLE VI
  PAYMENT LIMITATIONS

    6.1  Spousal Claims.  The Plan will recognize a court order, entered into
pursuant to state domestic relations law, that provides that all or a portion of a Participant's benefit under the Plan shall be paid to the Participant's spouse or former spouse for child support,
spousal maintenance or alimony. Any benefits payable to a spouse or former spouse pursuant to such an order shall be subject to all provisions and restrictions of this Plan and any dispute regarding
such benefits shall be resolved
pursuant to the Plan claims procedure in Article VIII. A former spouse shall have no claim to any benefits under the Plan unless such former spouse's entitlement to such benefits is specified
in such a court order. Any payment of benefits under the Plan, to the extent any payment of benefits is due, to a former spouse pursuant to such an order shall be made as soon as administratively
feasible after the order is accepted by the Plan Administrator, but not longer than 90 days after the end of the Plan Year in which the order is accepted by the Plan Administrator. 

    Any
taxes or other legally required withholdings from payments to such spouse or former spouse shall be deducted and withheld by the Company, benefit provider or funding agent. The
spouse or former spouse shall be provided with a tax withholding election form for purposes of federal and state tax withholding, if applicable. 

    No
order shall be accepted by the Plan Administrator that requires (a) the Plan to provide any type or form of benefit, or any option, not otherwise provided under the Plan,
(b) the Plan to provide increased benefits, or (c) payment of benefits to such former spouse that are required to be paid to another former spouse under another order previously accepted
by the Plan Administrator. The order must clearly specify information sufficient for the Plan Administrator to determine the plan to which it relates and the amount and person to whom benefits are
payable. The Plan Administrator shall have sole and absolute discretion to determine whether such a court order shall be accepted for purposes of this Section 6.1 and to make interpretations
under this Section 6.1, including determining who is to receive benefits, all calculations of benefits, and the amount of taxes to be withheld. The decisions of the Plan Administrator shall be
binding on all parties of interest. 

    6.2  Legal Disability.  If a person entitled to any payment under this Plan
shall, in the sole judgment of the Plan Administrator, be under a legal disability, or otherwise shall be unable to apply such payment to his/her own interest and advantage, the Plan Administrator, in
the exercise of its 

14

 

discretion, may direct the Company or payor of the benefit to make any such payment in any one or more of the following ways: 

    (a) Directly
to such person; 

    (b) To
his/her legal guardian or conservator; or 

    (c) To
his/her spouse or to any person charged with the duty of his/her support, to be expended for his/her benefit and/or that of his/her dependents. 

    The
decision of the Plan Administrator shall in each case be final and binding upon all persons in interest, unless the Plan Administrator shall reverse its decision due to changed
circumstances. 

    6.3  Assignment.  Except as provided in Section 6.1, no Participant or
Beneficiary shall have any right to assign, pledge, transfer, convey, hypothecate, anticipate or in any way create a lien on any amounts payable hereunder. No amounts payable hereunder shall be
subject to assignment or transfer or otherwise be alienable, either by voluntary or involuntary act, or by operation of law, or subject to attachment, execution, garnishment, sequestration or other
seizure under any legal, equitable or other process, or be liable in any way for the debts or defaults of Participants and their Beneficiaries. 

 
 

ARTICLE VII
  FUNDING

    7.1  Funding.  Benefits under this Plan shall be funded solely by the Company and
its Affiliates. Benefits under this Plan shall constitute an unfunded general obligation of the Company, but the Company may create reserves, funds and/or provide for amounts to be held in trust to
fund such benefits on the Company's or its Affiliates' behalf. Payment of benefits may be made by the Company, any trust established by the Company or through a service or benefit provider to the
Company or such trust. 

    7.2  Creditor Status.  Participants and their Beneficiaries shall be general
unsecured creditors of the Company or the Participants' employing Affiliate(s) with respect to the payment of any benefit under this Plan, unless such benefits are provided under a contract of
insurance or an annuity contract that has been delivered to Participants, in which case Participants and their Beneficiaries shall look to the insurance carrier or annuity provider for payment, and
not to the Company or Affiliate. The Company's or Affiliate's obligation for such benefit shall be discharged by the purchase and delivery of such annuity or insurance contract. 

 
 

ARTICLE VIII
  ADMINISTRATION

    8.1  The PAC.  The overall administration of the Plan will be the responsibility
of the PAC. 

    8.2  Powers of PAC.  In order to effectuate the purposes of the Plan, the PAC
will have the following powers: 

    (a) To
appoint the Plan Administrator; 

    (b) To
review and render decisions respecting a denial of a claim for benefits under the Plan; 

    (c) To
construe the Plan and to make equitable adjustments for any mistakes or errors made in the administration of the Plan; and 

    (d) To
determine and resolve, in its sole and absolute discretion, all questions relating to the administration of the Plan and the trust established to secure the
assets of the Plan (i) when differences of opinion arise between the Employer, the Plan Administrator, the Trustee, a Participant, or any of them and (ii) whenever it is deemed advisable
to determine such questions 

15

 

in order to promote the uniform and nondiscriminatory administration of the Plan for the greatest benefit of all parties concerned. 

    The
foregoing list of express powers is not intended to be either complete or conclusive, and the PAC will, in addition, have such powers as it may reasonably determine to be
necessary or appropriate in the performance of its powers and duties under the Plan. 

    8.3  Appointment of Plan Administrator.  The PAC will appoint the Plan
Administrator, who will have the responsibility and duty to administer the Plan on a daily basis. The PAC may remove the Plan Administrator with or without cause at any time. The Plan Administrator
may resign upon written notice to the PAC. 

    8.4  Duties of Plan Administrator.  The Plan Administrator will have the
following duties: 

    (a) To
direct the administration of the Plan in accordance with the provisions herein set forth; 

    (b) To
adopt rules of procedure and regulations necessary for the administration of the Plan, provided such rules are not inconsistent with the terms of the Plan; 

    (c) To
determine all questions with regard to rights of Employees, Participants, and Beneficiaries under the Plan including, but not limited to, questions involving
eligibility of an Employee to participate in the Plan and the value of a Participant's Accounts; 

    (d) To
enforce the terms of the Plan and any rules and regulations adopted by the PAC; 

    (e) To
review and render decisions respecting a claim for a benefit under the Plan; 

    (f)  To
furnish the Company with information that the Company may require for tax or other purposes; 

    g)  To
engage the service of counsel (who may, if appropriate, be counsel for the Company), actuaries, and agents whom it may deem advisable to assist it with the
performance of its duties; 

    (h) To
prescribe procedures to be followed by distributees in obtaining benefits; 

    (i)  To
receive from the Company and from Participants such information as is necessary for the proper administration of the Plan; 

    (j)  To
establish and maintain, or cause to be maintained, the individual Accounts described in Section 4.3; 

    (k) To
create and maintain such records and forms as are required for the efficient administration of the Plan; 

    (l)  To
make all determinations and computations concerning the benefits, credits and debits to which any Participant, or other Beneficiary, is entitled under the Plan; 

    (m) To
give the Trustee of the trust established to serve as a source of funds under the Plan specific directions in writing with respect to: 

     (i) the
making of distribution payments, giving the names of the payees, the amounts to be paid and the time or times when payments will be made; and 

    (ii) the
making of any other payments which the Trustee is not by the terms of the trust agreement authorized to make without a direction in writing by the Plan
Administrator; 

    (n) To
comply with all applicable lawful reporting and disclosure requirements of the Act; 

    (o) To
comply (or transfer responsibility for compliance to the Trustee) with all applicable federal income tax withholding requirements for benefit distributions; and 

16

 

    (p) To construe the Plan, in its sole and absolute discretion, and make equitable adjustments for any mistakes and errors made in the administration of the Plan. 

The
foregoing list of express duties is not intended to be either complete or conclusive, and the Plan Administrator will, in addition, exercise such other powers and perform such other duties as it
may deem necessary, desirable, advisable or proper for the supervision and administration of the Plan. 

    8.5  Indemnification of PAC and Plan Administrator.  To the extent not covered by
insurance, or if there is a failure to provide full insurance coverage for any reason, and to the extent permissible under corporate by-laws and other applicable laws and regulations, the
Company agrees to hold harmless and indemnify the PAC and Plan Administrator against any and all claims and causes of action by or on behalf of any and all parties whomsoever, and all losses
therefrom, including, without limitation, costs of defense and reasonable attorneys' fees, based upon or arising out of any act or omission relating to or in connection with the Plan other than losses
resulting from the PAC's, or any such person's, fraud or willful misconduct. 

    8.6  Claims for Benefits.  

    (a) Initial Claim. In the event that an Employee, Eligible Employee, Participant or his/her Beneficiary claims to be
eligible for benefits, or claims any rights under this Plan, he/she must complete and submit such claim forms and supporting documentation as shall be required by the Plan Administrator, in its sole
and absolute discretion. Likewise, any Participant or Beneficiary who feels unfairly treated as a result of the administration of the Plan, must file a written claim, setting forth the basis of
the claim, with the Plan Administrator. In connection with the determination of a claim, or in connection with review of a denied claim, the claimant may examine this Plan, and any other pertinent
documents generally available to Participants that are specifically related to the claim. 

    A
written notice of the disposition of any such claim shall be furnished to the claimant within 90 days after the claim is filed with the Plan Administrator. Such notice shall
refer, if appropriate, to pertinent provisions of this Plan, shall set forth in writing the reasons for denial of the claim if a claim is denied (including references to any pertinent provisions of
this Plan) and, where appropriate, shall explain how the claimant may perfect the claim. If the claim is denied, in whole or in part, the claimant shall also be notified in writing that a review
procedure is available. All benefits provided in this Plan as a result of the disposition of a claim will be paid as soon as practicable following receipt of proof of entitlement, if requested. 

    (b) Request for Review. Within 90 days after receiving the written notice of the Plan Administrator's disposition
of the claim, the claimant may file with the PAC a written request for review of his/her claim. In connection with the request for review, the claimant shall be entitled to be represented by counsel.
If the claimant does not file a written request for review within 90 days after receiving written notice of the Plan Administrator's disposition of the claim, the claimant shall be
deemed to have accepted the Plan Administrator's written disposition, unless the claimant shall have been physically or mentally incapacitated so as to be unable to request review within the
90 day period. 

    (c) Decision on Review. A decision on review of the claim shall be made by the PAC at its next meeting following receipt
of the written request for review. If no meeting of the PAC is scheduled within 45 days of receipt of the written request for review, then the PAC shall hold a special meeting to review such
written request for review within such 45-day period. If special circumstances require an extension of the 45-day period, the PAC shall so notify the claimant and a decision
shall be rendered within 90 days of the receipt of the request for review. In any event, if a claim is not determined by the PAC within 90 days of receipt of written submission for
review, it shall be deemed to be denied. 

17

 

    The PAC shall have the right to request of, and receive from, a claimant such additional information, documents or other evidence as the PAC may reasonably require. The decision of
the PAC shall be in writing and shall reference the provisions of the Plan on which the decision is based. To the extent permitted by law, a decision on review by the PAC shall be binding and
conclusive upon all persons whomsoever. 

    8.7  Arbitration.  In the event the claims review procedure described in
Section 8.6 of the Plan does not result in an outcome thought by the claimant to be in accordance with the Plan document, he/she may appeal to a third party neutral arbitrator. The claimant
must appeal to an arbitrator within 60 days after receiving the PAC's denial or deemed denial of his/her request for review and before bringing suit in court. 

    The
arbitrator shall be mutually selected by the Participant and the PAC from a list of arbitrators provided by the American Arbitration Association ("AAA"). If the parties are unable
to agree on the selection of an arbitrator within 10 days of receiving the list from the AAA, the AAA shall appoint an arbitrator. The arbitrator's review shall be limited to interpretation of
the Plan document in the context of the particular facts involved. The claimant, the PAC and the Company agree to accept the award of the arbitrator as binding, and all exercises of power by the
arbitrator hereunder shall be final, conclusive and binding on all interested parties, unless found by a court of competent jurisdiction, in a final judgment that is no longer subject to review or
appeal, to be arbitrary and capricious. The costs of arbitration shall be shared by the Company and the claimant; the costs of legal representation for the claimant or witness costs for the claimant
shall be borne by the claimant. 

    The
arbitrator shall have no power to add to, subtract from, or modify any of the terms of the Plan, or to change or add to any benefits provided by the Plan, or to waive or fail to
apply any requirements of eligibility for a benefit under the Plan. Nonetheless, the arbitrator shall have absolute discretion in the exercise of its powers in this Plan. Arbitration decisions will
not establish binding precedent with respect to the administration or operation of the Plan. 

    8.8  Receipt and Release of Necessary Information.  In implementing the terms of
this Plan, the PAC and Plan Administrator, as applicable, may, without the consent of or notice to any person, release to or obtain from any other insuring entity or other organization or person any
information, with respect to any person, which the PAC or Plan Administrator deems to be necessary for such purposes. Any Participant or Beneficiary claiming benefits under this Plan shall furnish to
the PAC or Plan Administrator, as applicable, such information as may be necessary to determine eligibility for and amount of benefit, as a condition of claiming and receiving such benefit. 

    8.9  Overpayment and Underpayment of Benefits.  The Plan Administrator may adopt,
in its sole and absolute discretion, whatever rules, procedures and accounting practices are appropriate in providing for the collection of any overpayment of benefits. If a Participant or Beneficiary
receives an underpayment of benefits, the Plan Administrator shall direct that payment be made as soon as practicable to make up for the underpayment. If an overpayment is made to a Participant or
Beneficiary, for whatever reason, the Plan Administrator may, in its sole and absolute discretion, withhold payment of any further benefits under the Plan until the overpayment has been collected or
may require repayment of benefits paid under this Plan without regard to further benefits to which the Participant or Beneficiary may be entitled. 

 
 

ARTICLE IX
  OTHER BENEFIT PLANS OF THE COMPANY

    9.1  Other Plans.  Nothing contained in this Plan shall prevent a Participant
prior to his/her death, or a Participant's spouse or other Beneficiary after such Participant's death, from receiving, in addition to any payments provided for under this Plan, any payments provided
for under any other plan or benefit program of the Company or an Affiliate, or which would otherwise be payable or distributable 

18

 

to him/her, his/her surviving spouse or Beneficiary under any plan or policy of the Company or otherwise. Nothing in this Plan shall be construed as preventing the Company or any of its Affiliates
from establishing any other or different plans providing for current or deferred compensation for employees and/or Directors. Unless otherwise specifically provided in any plan of the Company intended
to "qualify" under Section 401 of the Code, Compensation Deferrals made under this Plan shall constitute earnings or compensation for purposes of determining contributions or benefits under
such qualified plan. 

 
 

ARTICLE X
  AMENDMENT AND TERMINATION OF THE PLAN

    10.1  Amendment.  The Compensation Committee may amend this Plan by duly
authorized written amendment; provided that no amendment or modification shall deprive a Participant, or person claiming benefits under this Plan through a Participant, of any benefit accrued under
this Plan up to the date of amendment or modification, except as may be required by applicable law. 

    10.2  Termination.  The Compensation Committee may terminate or suspend this Plan
in whole or in Part at any time, provided that no such termination or suspension shall deprive a Participant, or person claiming benefits under this Plan through a Participant, of any benefit accrued
under this Plan up to the date of suspension or termination, except as required by applicable law. Upon the complete termination of the Plan, the Compensation Committee, in its sole and absolute
discretion, may direct the Plan Administrator to distribute each Participant's account to him/her or his/her Beneficiary, as applicable, in a lump sum and regardless of whether benefit payments have
previously commenced to be made to such Participant. 

    10.3.  Continuation.  The Company intends to continue this Plan indefinitely, but
nevertheless assumes no contractual obligation beyond the promise to pay the benefits described in this Plan. 

 
 

ARTICLE XI
  MISCELLANEOUS

    11.1  No Reduction of Employer Rights.  Nothing contained in this Plan shall be
construed as a contract of employment between the Company or an Affiliate and an Employee, or as a right of any Employee to continue in the employment of the Company or an Affiliate, or as a
limitation of the right of the Company or an Affiliate to discharge any of its Employees, with or without cause or as a right of any Director to be renominated to serve as a Director. 

    11.2  Provisions Binding.  All of the provisions of this Plan shall be binding
upon all persons who shall be entitled to any benefit hereunder, their heirs and personal representatives. 

19

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SECOND AMENDED AND RESTATED TENET 2001 DEFERRED COMPENSATION PLAN

SECOND AMENDED AND RESTATED TENET 2001 DEFERRED COMPENSATION PLAN

ARTICLE I PREAMBLE AND PURPOSE

ARTICLE II DEFINITIONS AND CONSTRUCTION

ARTICLE III PARTICIPATION AND FORFEITABILITY OF BENEFITS

ARTICLE IV DEFERRAL, COMPANY CONTRIBUTIONS, ACCOUNTING AND INVESTMENT CREDITING RATES

ARTICLE V DISTRIBUTION OF BENEFITS

ARTICLE VI PAYMENT LIMITATIONS

ARTICLE VII FUNDING

ARTICLE VIII ADMINISTRATION

ARTICLE IX OTHER BENEFIT PLANS OF THE COMPANY

ARTICLE X AMENDMENT AND TERMINATION OF THE PLAN

ARTICLE XI MISCELLANEOUSPrepared by MERRILL CORPORATION

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SECOND AMENDED AND RESTATED  

 TENET EXECUTIVE  

 DEFERRED COMPENSATION PLANS TRUST  

 Effective December 21, 2000  

 
  
 

    SECOND AMENDED AND RESTATED
  TENET EXECUTIVE
  DEFERRED COMPENSATION PLANS TRUST    
  

    This Trust Agreement (the "Agreement") is made and entered into as of this 21st day of December, 2000, by and between Tenet Healthcare
Corporation, a Nevada corporation (the "Company") and Wachovia Bank, N.A. (the "Trustee") with reference to the following facts: 

    A.  The
Company previously established an executive deferred compensation and excess benefit plan, known as the Tenet Executive Deferred Compensation and Supplemental
Savings Plan (the "Supplemental Plan"), effective November 10, 1995, to provide benefits to both the employees and directors of the Company and its subsidiaries. 

    B.  The
Company has now established an executive deferred compensation and excess benefit plan, known as the Tenet 2001 Deferred Compensation Plan (the "Plan"),
effective October 11, 2000, to provide benefits to certain employees and directors of the Company. The Plan and the Supplemental Plan, as they may be amended, restated or replaced from time to
time, are referred to herein collectively as the "Plans". 

    C.  In
connection with the adoption of the Plan, the Company intends to transfer to the Plan the account balances of certain participants in the Supplemental Plan. 

    D.  The
Company and its "Affiliates" (as defined under sections 414(b),(c) and (m) of the Internal Revenue Code of 1986, as amended (the "Code")) have incurred
and expect to continue to incur liability under the terms of the Plans with respect to the individuals participating in such plans. 

    E.  It
is the intention of the parties that this Trust shall continue to constitute an unfunded arrangement and shall not affect the status of the Plans as unfunded
plans maintained for the purpose of providing deferred compensation for a select group of management or highly compensated employees and directors for purposes of Title I of the Employee Retirement
Income Security Act of 1974, as amended ("ERISA"). 

    F.  It
is the intention of the Company to make contributions to the Trust to provide a source of funds to assist it in meeting its liabilities under the Plans. 

    NOW,
THEREFORE, the parties do hereby amend and restate the Trust and agree that the Trust shall be comprised, held and disposed of as follows: 

 
 

ARTICLE 1
  FUNDING OF TRUST    
  

    1.1 The
Trust shall initially be funded by the assets described in Schedule 1, attached hereto and incorporated
herein by reference, as the principal of the Trust to be held, administered and disposed of by Trustee as provided in this Agreement. 

    1.2 The
Company shall contribute to the Trust such additional amounts as the Company shall reasonably decide are necessary to provide for all benefits payable under the
Plans. 

    1.3 The
Trust is intended to continue to be a grantor trust, of which the Company is the grantor, within the meaning of subpart E, part I, subchapter J, chapter
1, subtitle A of the Code, and shall be construed accordingly. 

    1.4 The
principal of the Trust, and any earnings thereon, shall be held separate and apart from other funds of the Company and shall be used exclusively for the uses
and purposes of participants in the Plans and general creditors as herein set forth. Participants and their beneficiaries under the Plans shall have no preferred claim on, or any beneficial ownership
interest in, any assets of the Trust. Any 

2

 

rights created under the Plans and this Agreement shall be mere unsecured contractual rights of Plan participants and their beneficiaries against the Company. Any assets held by the Trust will be
subject to the claims of the Company's general creditors under federal and state law in the event of Insolvency, as defined in Section 3.1 herein. 

    1.5 Upon
a Change of Control, as defined in Section 13.4 herein, and on the last day of every calendar quarter commencing with the first calendar quarter
beginning after the month in which a Change of Control occurs (a "Quarter"), the Company shall, as soon as possible, but in no event longer than thirty (30) days following the Change of Control
and no longer than ten (10) days after the end of each Quarter, make an irrevocable contribution to the Trust in an amount that is sufficient, together with all assets held by the Trust as of
such date, to pay to each participant or beneficiary, on a pre-tax basis, the benefits to which such participants or their beneficiaries would be entitled pursuant to the terms of the
Plans as of the later of the date on which the Change of Control occurred or the last day of each Quarter. The Company shall notify the Trustee immediately following verification that a Change of
Control has occurred. 

 
 

ARTICLE 2
  PAYMENTS TO PLAN PARTICIPANTS AND THEIR BENEFICIARIES    
  

    2.1 Upon
the occurrence of a Change of Control, the Company shall deliver to the Trustee a schedule (the "Payment Schedule") that indicates the amounts payable with
respect to each participant (and his or her beneficiaries) under the Plans, and provides a formula or other instructions acceptable to the Trustee for determining the amounts so payable, the form in
which such amount is to be paid (as provided for or available under the Plans), the time of commencement for payment of such amounts and the period of time over which such amounts are to be paid and
the monthly amount of such payments if such amounts are to be paid over time. Except as otherwise provided herein, the Trustee shall make payments to participants and their beneficiaries in accordance
with such Payment Schedule. The Trustee shall not be responsible for determining the accuracy of the amounts to be paid according to the Payment Schedule. The Trustee shall make provision for the
reporting and withholding of any federal, state or local taxes pursuant to the terms of the Plans and shall pay amounts withheld to the appropriate taxing authorities or determine that such amounts
have been reported, withheld and paid by the Company. 

    2.2 The
entitlement of a participant or his or her beneficiaries to benefits under the Plans shall be determined by the Company or such party as it shall designate
under the Plans, and any claim for such benefits shall be considered and reviewed under the procedures set out in the Plans. 

    2.3 The
Company may make payment of benefits directly to participants or their beneficiaries as they become due under the terms of the Plans. The Company shall notify
the Trustee of its decision to make payment of benefits directly prior to the time amounts are payable to participants or their beneficiaries. In addition, if the principal of the Trust, and any
earnings thereon, are not sufficient to make payments of benefits in accordance with the terms of the Plans, the Company shall make the balance of each such payment as it falls due. The Trustee shall
notify the Company in the event that principal and earnings of the Trust are not sufficient to make payments of benefits in accordance with the terms of the Plans. 

 
 

ARTICLE 3
  TRUSTEE RESPONSIBILITY REGARDING PAYMENTS TO
  TRUST BENEFICIARY WHEN COMPANY IS INSOLVENT    
  

    3.1 The
Trustee shall cease payment of benefits to participants and their beneficiaries under the Plans if the Company is "Insolvent". The Company shall be considered
"Insolvent" for purposes of this 

3

 

Trust Agreement if (a) the Company is unable to pay its debts as they become due, or (b) the Company is subject to a pending proceeding as a debtor under the United States Bankruptcy
Code. 

    3.2 At
all times during the continuation of this Trust, as provided in Section 1.4 hereof, the principal and income of the Trust shall be subject to claims of
general creditors of the Company under federal and state law as set forth below. 

    (a) The
Board of Directors and the Chief Executive Officer of the Company shall have the duty to inform the Trustee in writing if the Company is Insolvent. If a person
claiming to be a creditor of the Company alleges in writing to the Trustee that the Company has become Insolvent, the Trustee shall determine whether the Company is Insolvent and, pending such
determination, the Trustee shall discontinue payment of benefits, from the Trust, to participants or their beneficiaries under the Plans. 

    (b) Unless
the Trustee has actual knowledge of the Company's Insolvency, or has received notice from the Board of Directors or Chief Executive Officer of the Company or
a person claiming to be a creditor alleging that the Company is Insolvent, the Trustee shall have no duty to inquire whether the Company is Insolvent. The Trustee may in all events rely on such
evidence concerning the Company's Insolvency as may be furnished to the Trustee and that provides the Trustee with a reasonable basis for making a determination concerning the Company's Insolvency. 

    (c) If
at any time the Trustee has determined that the Company is Insolvent, the Trustee shall discontinue payments from the Trust to participants or their
beneficiaries under the Plans and shall hold the assets of the Trust for the benefit of the Company's general creditors. Nothing in this Agreement shall in any way diminish any rights of Plan
participants or their beneficiaries to pursue their rights as general creditors of the Company with respect to benefits due under the Plans or otherwise. 

    (d) The
Trustee shall resume the payment of benefits to participants or their beneficiaries under the Plans in accordance with Article 2 of this Agreement only
after the Trustee has determined that the Company is not Insolvent (or is no longer Insolvent). 

    3.3 Provided
that there are sufficient assets, if the Trustee discontinues the payment of benefits from the Trust pursuant to Section 3.2 hereof and subsequently
resumes such payments, the first payment following such discontinuance shall include the aggregate amount of all payments due to participants or their beneficiaries under the terms of the Plans for
the period of such discontinuance, less the aggregate amount of any payments made to the such participants or their beneficiaries by the Company in lieu of the payments provided for hereunder during
any such period of discontinuance. 

 
 

ARTICLE 4
  PAYMENTS TO COMPANY    
  

    4.1 Except
as provided in Article 3 hereof, upon the occurrence of a Change of Control, the Company shall have no right or power to direct the Trustee to return
to the Company or to divert to others any of the Trust assets before all payment of benefits have been made to participants and their beneficiaries pursuant to the terms of the Plans. 

 
 

ARTICLE 5
  INVESTMENT AUTHORITY    
  

    5.1 The
Trustee shall invest contributions made by the Company to the Trust and any income thereon in accordance with the directions of the Company. The Trustee may
invest in securities (including stock or rights to acquire stock) or obligations issued by the Company. All rights associated with assets of the Trust shall be exercised by the Trustee, or the person
designated by the Trustee, and shall in no event be exercisable by or rest with participants in the Plans. The Company shall have the 

4

 

right at any time, and from time to time in its sole discretion, to substitute assets of equal fair market value for any assets held by the Trust. This right is exercisable by the Company in a
nonfiduciary capacity without the approval or consent of any person in a fiduciary capacity. If the assets of the Trust include Company stock, the Trustee shall hold the stock until such time as the
stock must be liquidated to pay participants or their beneficiaries benefits under the Plans or until such time as the Trustee determines it to be clearly imprudent to retain the stock to preserve the
principal balance required to maintain adequate funding for future payments due to participants or their beneficiaries under the Plans. 

    5.2 No
investment shall be made in real property, mineral interests, or leaseholds. 

    5.3 Prior
to a Change of Control, as defined in Section 13.4 herein, the voting and other rights in securities or other assets held in the Trust shall be
exercised by the Trustee as directed by the Company. 

    5.4 The
Trustee shall hold (and have the duty of safekeeping) any policy of insurance contributed to the Trust or purchased by the Trust at the direction of the
Company. Any such insurance policy may be on the life of a participant. 

    (a) Upon
the direction of the Company, the Trustee shall use, to the extent available, contributions made by the Company or apply any assets of the Trust to the
purchase of a policy of life insurance on the life of a participant. In connection with the purchase of any policy of insurance, the Trustee may also engage in the following activities: the payment of
premiums, reinvestment of policy proceeds back into remaining policies, application of any cash value to the purchase of paid-up insurance or of extending insurance, borrowing upon any
policy for the payment of premiums due on any policy, accepting the cash value of any policy upon cancellation or forfeiture thereof and applying such value to the payment of premiums due on any
policy, and applying cash contributions received by the Trustee and as directed by the Company. In the absence of written direction of the Company, the Trustee shall not be under any obligation to pay
any premiums that may become due or payable under the provisions of any insurance policy held in the Trust. 

    (b) In
addition to the powers and duties set forth above, the Trustee, as owner of any insurance policy or policies held in the Trust shall enjoy for the purposes of
this Trust all options, benefits, privileges and rights under such policy or policies and, prior to a Change of Control, shall exercise such in accordance with the direction of the Company. 

    (c) Upon
the death of a participant upon whose life an insurance policy was purchased, the Trustee shall receive any or all of the proceeds and benefits of any
insurance on the life of the participant as are actually paid to the Trust. The Trustee shall take any and all steps reasonably necessary for the collection of such proceeds, including the institution
of proceedings at law or in equity to enforce payment thereof, which steps shall be taken at the direction of the Company prior to the occurrence of a Change of Control. 

    5.5 Prior
to a Change of Control, the Company shall have the right to contribute to the Trust shares of the Company's common stock, par value $.075 per share ("Company
Stock"). To the extent Company Stock is contributed to the Trust, it shall be held by the Trustee pursuant to this Section 5.5. 

    5.6 (a)  Purchases
and sales of Company Stock shall be made on the date on which the Trustee receives from the Company in good order all information and
documentation necessary to accurately effect such purchases and sales (or, in the case of purchases, the subsequent date on which the Trustee 

5

 

has received a wire transfer of the funds necessary to make such purchases). Purchases and sales of Company Stock shall be made on the open market as necessary unless the following applies: 

     (i) The
Trustee is unable to determine the number of shares required to be purchased or sold on such day; or 

    (ii) The
Trustee is unable to purchase or sell the total number of shares required to be purchased or sold on such day as a result of market conditions; or 

    (iii) The
Trustee is prohibited by the Securities and Exchange Commission, the New York Stock Exchange or any other regulatory body from purchasing or selling any or
all of the shares required to be purchased or sold on such days. 

In
the event of the occurrence of the circumstances described in (i), (ii) or (iii) above, the Trustee shall purchase or sell such shares as soon as possible thereafter and shall
determine the price of such
purchases or sales to be the average purchase or sales price of all such shares purchased or sold, respectively. The Trustee may follow written directions from the Company to deviate from the above
purchase and sale procedures. 

    (b) The
Company hereby directs the Trustee to use Wachovia Securities, Inc. (WSI) to provide brokerage services in connection with any purchase or sale of
Company Stock subject to the requirement that the Trustee take all reasonable steps to assure that the Trust receives best execution on any transaction. The provision of brokerage services shall be
subject to the following: 

     (i) To
the extent such services are utilized, as consideration for such brokerage services, the Company agrees that WSI shall be entitled to remuneration under this
authorization provision in accordance with a fee schedule agreed to in writing by the Company and WSI; 

    (ii) Any
successor organization of WSI, through reorganization, consolidation, merger or similar transactions, shall, upon consummation of such transaction, become the
successor broker in accordance with the terms of this authorization provision; 

    (iii) The
Trustee and WSI shall continue to rely on this authorization provision until notified to the contrary. The Company reserves the right to terminate this
authorization upon sixty (60) days written notice to WSI (or its successor) and the Trustee. 

    5.7 The
Company shall be responsible for filing all reports required under Federal or state securities laws with respect to the Trust's ownership of Company Stock,
including, without limitation, any reports required under Section 13 or 16 of the Securities Exchange Act of 1934, as amended, and shall immediately notify the Trustee in writing of any
requirement to stop purchases or sales of Company Stock pending the filing of any report. The Company shall be responsible for the registration of any Plan interests required under Federal or state
securities laws. The Trustee shall provide to the Company such information on the Trust's ownership of Company Stock as the Company may reasonably request in order to comply with Federal or state
securities laws. 

 
 

ARTICLE 6
  DISPOSITION OF INCOME    
  

    6.1 During
the term of this Trust, all income received by the Trust, net of expenses, shall be accumulated and reinvested at the direction of the Company until the
occurrence of a Change of Control. 

6

 
 
 

ARTICLE 7
  ACCOUNTING BY TRUSTEE    
  

    7.1 The
Trustee shall keep accurate and detailed records of all investments, receipts, disbursements, and all other transactions required to be made, including such
specific records as shall be agreed upon in writing between the Company and the Trustee. Within sixty (60) days following the close of each calendar year and within sixty (60) days after
the resignation of the Trustee, the Trustee shall deliver to the Company a written account of its administration of the Trust during such year or during the period from the close of the last preceding
year to the date of such removal or resignation, setting forth all investments, receipts, disbursements and other transactions effected by it, including a description of all securities and investments
purchased and sold with the cost or net proceeds of such purchases or sales (accrued interest paid or receivable being shown separately), and showing all cash, securities and other property held in
the Trust at the end of such year or as of the date of such removal or resignation, as the case may be. 

 
 

ARTICLE 8
  RESPONSIBILITY OF TRUSTEE    
  

    8.1 The
Trustee shall act with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in like capacity and
familiar with such matters would use in the conduct of an enterprise of a like character and with like aims provided, however, that the Trustee shall incur no liability to any person for any action
taken pursuant to a direction, request or approval given by the Company which is contemplated by, and in conformity with, the terms of the Plans or this Agreement and is given in writing by the
Company. In the event of a dispute between the Company and a party, the Trustee may apply to a court of competent jurisdiction to resolve the dispute. 

    8.2 If
the Trustee undertakes or defends any litigation arising in connection with this Trust, the Company agrees to indemnify the Trustee against the Trustee's
reasonable costs, expenses and liabilities (including, without limitation, attorneys' fees and expenses) relating thereto and to be primarily liable for such payments. The Company shall not indemnity
Trustee for any litigation arising in connection with the Trustee's gross negligence or misconduct. If the Company does not pay such costs, expenses and liabilities in a reasonably timely manner, the
Trustee may obtain payment from the Trust. 

    8.3 (a)  The
Trustee may consult with legal counsel (who may be in-house or outside counsel for the Company) with respect to any of its
duties or obligations hereunder. 

    (b) Upon
receipt by the Trust or Trustee, as the case may be, of notice or commencement (by way of service with a summons or other legal process giving information as
to the nature and basis of the claim) of a claim, action or proceeding (a "Legal Proceeding") involving or against the Trustee or the Trust, as the case may be, arising in connection with the Trust,
the Trustee shall promptly notify the Company with respect thereto. The Company will, if requested by the Trustee and/or in the Company's sole and absolute discretion, assume the defense of any such
Legal Proceeding and will employ counsel reasonably satisfactory to the Trustee and pay the fees and expenses of such counsel, in which event, except as provided below, the Company shall not be liable
for the fees and expenses of any other counsel retained by the Trustee in connection with such Legal Proceeding. The Company shall notify the Trustee, within ten (10) calendar days of the
Company's receipt of notice from the Trustee of any such Legal Proceeding, of the Company's intent to assume the defense of any such Legal Proceeding and employ counsel. If the Company fails to
provide such notice to the Trustee, the Trustee will be entitled to assume the defense of any such Legal Proceeding and employ counsel in accordance with Section 8.2 above. 

    (c) If
the Company has exercised its discretion to assume the defense of any Legal Proceeding and to employ counsel, the Trustee shall have the right to participate in
any such Legal Proceeding and to retain its own counsel, but, notwithstanding any provision of this Agreement to 

7

 

the contrary, the fees and expenses of such counsel shall be at the expense of the Trust and/or Trustee, as the case may be, unless (i) the Company and the Trustee mutually shall have agreed in
writing to the retention of such counsel, or (ii) the named parties to any such Legal Proceeding (including any impleaded parties) include both the Company and the Trust and/or Trustee, as the
case may be, and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between the Company and the Trust and/or Trustee, as the case
may be; provided, however, that in no event shall the Company be liable for the reasonable fees and expenses of more than one firm of attorneys (in addition to any local counsel) in connection with
any one Legal Proceeding or separate but substantially similar or substantially related Legal Proceedings in the same jurisdiction arising out of the same facts and circumstances. 

    (c) The
Company shall not be liable for any settlement of any Legal Proceeding effected without its written consent, but if settled with such consent or if there be a
final judgment for the plaintiff, the Company shall be obligated for any loss or liability by reason of such settlement or judgment. The Company will not settle any claim, action or proceeding
(i) in which the Trust and/or Trustee, as the case may be, is a named party, or (ii) pursuant to which settlement any responsibility, culpability or liability is imposed on, or ascribed
to, the Trust and/or Trustee, as the case may be, without the written consent of the Trust and/or Trustee, as the case may be, which consent shall not be unreasonably withheld. 

    (d) Notwithstanding
the provisions of Section 8.3(b) above to the contrary, upon the occurrence of a Change of Control, as defined in Section 13.4, the
Trustee shall have sole and absolute discretion to assume the defense of any such Legal Proceeding and employ counsel in accordance with Section 8.2 above. 

    8.4 The
Trustee may hire agents, accountants, actuaries, investment advisors, financial consultants or other professionals to assist it in performing any of its duties
or obligations hereunder. 

    8.5 The
Trustee shall have, without exclusion, all powers conferred on trustees by applicable law, unless expressly provided otherwise herein, provided, however, that
if an insurance policy is held as an asset of the Trust, the Trustee shall have no power to name a beneficiary of the policy other than the Trust, to assign the policy (as distinct from conversion of
the policy to a different form) other than to a successor Trustee, or to loan to any person the proceeds of any borrowing against such policy. 

    8.6 Notwithstanding
any powers granted to the Trustee pursuant to this Agreement or to applicable law, the Trustee shall not have any power that could give this Trust
the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated
pursuant to the Code. 

    8.7 Notwithstanding
any provision in this Agreement to the contrary, in the event of a Change of Control, as defined in Section 13.4, the Trustee is hereby
directed to sell any and all shares of Company stock, or other stock that is received by the Trustee in exchange for such Company stock as a result of the Change of Control, which the Trustee holds as
a Trust asset, as soon as practicable following such Change of Control. The Trustee shall invest any and all proceeds that it receives as a result of such sales that are not immediately needed in
order to make distributions to participants and their beneficiaries under the Plans in United States government securities and/or securities of United States government agencies. Additionally, if the
Trustee sells any Company stock prior to a Change of Control, the proceeds from any such sale that are not immediately needed in order to make distributions to participants and their beneficiaries
under the Plans also shall be invested by the Trustee in United States government securities and/or securities of United States government agencies with an average portfolio maturity of two
(2) years. 

    8.8 The
Company hereby indemnifies the Trustee against losses, liabilities, claims, costs and expenses in connection with the administration of the Trust, unless
resulting from the gross negligence 

8

 

or misconduct of Trustee. To the extent the Company fails to make any payment on account of an indemnity provided in this paragraph in a reasonably timely manner, the Trustee may obtain payment from
the Trust. 

 
 

ARTICLE 9
  COMPENSATION AND EXPENSES OF TRUSTEE    
  

    9.1 The
Company shall pay all reasonable administrative and Trustee's fees and expenses. If not so paid, such reasonable fees and expenses shall be paid from the Trust. 

    9.2 In
the event of a Change of Control or any other matter, which in the Trustee's reasonable discretion requires the Trustee to perform services in addition to the
Trustee's custodial and investment responsibilities under this Agreement, including, without limitation, the Trustee's responsibilities under Section 8.7, which shall not be considered
additional responsibilities upon a Change of Control, the Trustee shall be entitled to a reasonable additional fee as provided in this Article 9. The Trustee shall be compensated at rates
agreed to by the Company and the Trustee, not to exceed its normal hourly rates for all reasonable additional services and for the reasonable fees and expenses of its counsel or other experts required
to be engaged by the Trustee. Such amounts shall be paid by the Company to the Trustee within sixty (60) days of billing, provided that if timely payment is not made by the Company, the Trustee
may discharge any such obligation out of the Trust assets, regardless of whether the Trust is fully funded. 

    9.3 In
the event of the termination of the Trust or the removal or resignation of the Trustee, the Trustee shall be entitled to withhold out of the Trust assets all
amounts due to the Trustee pursuant to this Article 9. This Section 9.3 shall supersede any conflicting provision of this Agreement or the Plans. 

 
 

ARTICLE 10
  RESIGNATION AND REMOVAL OF TRUSTEE    
  

    10.1 The
Trustee may resign at any time by written notice to the Company, which shall be effective one hundred and twenty (120) days after receipt of such notice
unless the Company and Trustee agree otherwise. 

    10.2 Subject
to Section 10.3, the Trustee may be removed by the Company on ninety (90) days notice or upon shorter notice accepted by the Trustee. 

    10.3 Upon
a Change of Control, as defined herein, the Trustee may not be removed by the Company for three (3) years following the date of such Change of Control. 

    10.4 If
the Trustee resigns within three (3) years following a Change of Control, as defined herein, the Trustee shall select a successor Trustee in accordance
with the provisions of Section 11.2 hereof prior to the effective date of the Trustee's resignation or removal. 

    10.5 Upon
resignation or removal of the Trustee and appointment of a successor Trustee, all Trust assets shall subsequently be transferred to the successor Trustee. The
transfer shall be completed within sixty (60) days after receipt of notice of resignation, removal or transfer, unless the Company extends the time limit. 

    10.6 If
the Trustee resigns or is removed, a successor shall be appointed, in accordance with Article 11 hereof, by the effective date of resignation or removal
under Section 10.1 or 10.2. If no such appointment has been made, the Trustee or the Company may apply to a court of competent jurisdiction for appointment of a successor or for instructions.
All reasonable expenses of the Trustee in connection with the proceeding shall be allowed as administrative expenses of the Trust. 

9

 
 
 

ARTICLE 11
  APPOINTMENT OF SUCCESSOR    
  

    11.1 If
the Trustee resigns or is removed in accordance with Section 10.1 or 10.2 hereof, the Company may appoint any third party, such as a bank trust
department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon resignation or removal. The appointment shall be effective when
accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any
instrument necessary or reasonably requested by the Company or the successor Trustee to evidence the transfer. 

    11.2 If
the Trustee resigns or is removed pursuant to the provisions of Section 10.4 hereof and selects a successor Trustee, the Trustee may appoint any third
party such as a bank trust department or other party that may be granted corporate trustee powers under state law. The appointment of a successor Trustee shall be effective when accepted in writing by
the new Trustee. The new Trustee shall have all the rights and powers of the former Trustee, including ownership rights in Trust assets. The former Trustee shall execute any instrument necessary or
reasonably requested by the successor Trustee to evidence the transfer. 

    11.3 The
successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Articles 7 and 8
hereof. The successor Trustee shall not be responsible for, and the Company shall indemnify and defend the successor Trustee from, any claim or liability resulting from any action or inaction of any
prior Trustee or from any other past event, or any condition existing at the time it becomes successor Trustee. 

 
 

ARTICLE 12
  AMENDMENT OR TERMINATION    
  

    12.1 This
Agreement may be amended by a written instrument executed by the Trustee and the Company. Notwithstanding the foregoing, no such amendment shall conflict with
the terms of the Plans or shall make the Trust revocable. 

    12.2 The
Trust shall not terminate until the date on which participants and their beneficiaries are no longer entitled to benefits pursuant to the terms of the Plans.
Upon termination of the Trust any assets remaining in the Trust shall be returned to the Company. 

    12.3 Upon
written approval of all participants or beneficiaries entitled to payment of benefits pursuant to the terms of the Plans, the Company may terminate this Trust
prior to the time all benefit payments under the Plans have been made. The Company shall provide verification to the Trustee that all such participants or beneficiaries entitled to benefits under the
Plans have in fact approved the termination of the Trust. All assets in the Trust at termination shall be returned to the Company. 

    12.4 Section 1.5,
Article 4, Article 5, Section 8.7, Section 10.3, Section 10.4, Section 12.4 and Section 13.4
of this Agreement may not be amended by Company for three (3) years following a Change in Control, as defined herein. 

 
 

ARTICLE 13
  MISCELLANEOUS    
  

    13.1 Any
provision of this Agreement prohibited by law shall be ineffective to the extent of any such prohibition, without invalidating the remaining provisions hereof. 

    13.2 Benefits
payable to participants and their beneficiaries under the Plans pursuant to this Agreement may not be anticipated, assigned (either at law or in equity),
alienated, pledged, 

10

 

encumbered or subjected to attachment, garnishment, levy, execution or other legal or equitable process. 

    13.3 This
Trust Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, except to the extent preempted by ERISA or the Code. 

    13.4 For
purposes of this Trust, a "Change of Control" of the Company shall be deemed to have occurred if either (i) any person, as such term is used in
Section 13(c) and 14(d)(2) of the Securities Exchange Act of 1934, as amended, (the "Exchange Act") is or becomes the beneficial owner, directly or indirectly, of securities of the Company
representing 20% or more of the combined voting power of the Company's then outstanding securities, or (ii) individuals who, as of August 1, 2000, constitute the Board of Directors of
the Company (the "Incumbent Board") cease for any reason to constitute at least a majority of the Board; provided, however, that (a) any individual who becomes a director of the Company
subsequent to August 1, 2000, whose election, or nomination for election by the Company's stockholders, was approved by a vote of at least a majority of directors then comprising the Incumbent
Board shall be deemed to have been a member of the Incumbent Board, and (b) no individual who is elected initially (after August 1, 2000) as a director as a result of an actual or
threatened election contest, as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act or any other actual or threatened solicitations of
proxies or consent by or on behalf of any person other than the Incumbent Board shall be deemed to have been a member of the Incumbent Board. 

    13.5 If
a participant or his or her beneficiary is required to institute a legal proceeding in order to enforce his or her rights under this Agreement and the Plans and
such participant or beneficiary prevails in such legal proceeding, then the Company shall reimburse such participant or beneficiary for the reasonable legal fees and expenses incurred in bringing and
prosecuting such legal proceeding. 

 
 

ARTICLE 14
  EFFECTIVE DATE    
  

    14.1 The
effective date of this Agreement shall be the date first written above. 

    IN
WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first written above. 

	 	 	"COMPANY"
	

 	
 	
TENET HEALTHCARE COMPANY
	

 	
 	

 	

 
	 	 	By:	/s/ ALAN R. EWALT

	 	 	Its:	EVP—Human Resources
	

 	
 	

 	

 
	 	 	"TRUSTEE"
	

 	
 	
WACHOVIA BANK, N.A.
	

 	
 	

 	

 
	 	 	By:	/s/ GREGORY FORBES

	 	 	Its:	Gregory Forbes, V.P. of Wachovia Bank, N.A.

11

 
 

Schedule 1    
  

Second Amended and Restated Tenet Executive

Deferred Compensation Plans Trust  

 Schedule of Assets  

	1.
	Seven
Hundred Fifty Thousand (750,000) shares of the $0.075 par value per share common stock of Tenet Healthcare Corporation.

	2.
	Fifty
Million ($50 million) U.S. dollars to be used for the purchase of corporate-owned life insurance. 

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SECOND AMENDED AND RESTATED TENET EXECUTIVE DEFERRED COMPENSATION PLANS TRUST

ARTICLE 1 FUNDING OF TRUST

ARTICLE 2 PAYMENTS TO PLAN PARTICIPANTS AND THEIR BENEFICIARIES

ARTICLE 3 TRUSTEE RESPONSIBILITY REGARDING PAYMENTS TO TRUST BENEFICIARY WHEN COMPANY IS INSOLVENT

ARTICLE 4 PAYMENTS TO COMPANY

ARTICLE 5 INVESTMENT AUTHORITY

ARTICLE 6 DISPOSITION OF INCOME

ARTICLE 7 ACCOUNTING BY TRUSTEE

ARTICLE 8 RESPONSIBILITY OF TRUSTEE

ARTICLE 9 COMPENSATION AND EXPENSES OF TRUSTEE

ARTICLE 10 RESIGNATION AND REMOVAL OF TRUSTEE

ARTICLE 11 APPOINTMENT OF SUCCESSOR

ARTICLE 12 AMENDMENT OR TERMINATION

ARTICLE 13 MISCELLANEOUS

ARTICLE 14 EFFECTIVE DATE

Schedule 1

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