Document:

EXHIBIT 10.2

                         EXECUTIVE EMPLOYMENT AGREEMENT
                         ------------------------------

         THIS AGREEMENT, made and entered into as of _____________, 2004 (the
"Effective Date"), by and among Royal Financial, Inc. (hereinafter referred to
as "Royal Financial"), Royal Savings Bank (the "Bank" and together with Royal
Financial, hereinafter the "Employer"), and Donald A. Moll (hereinafter called
the "Executive").

                          W I T N E S S E T H  T H A T:
                          -----------------------------

         WHEREAS, the Employer desires to continue to employ the Executive as
President and Chief Executive Officer of the Bank, and the Executive desires to
continue in such employment;

         NOW, THEREFORE, in consideration of the mutual promises herein
contained and subject to the conditions precedent set forth herein, the parties
agree as follows:

         1. Employment and Term.

         (a) Employment. Royal Financial shall cause the Bank to employ, and the
Bank shall employ, the Executive as the President and Chief Executive Officer of
the Bank, and the Executive shall so serve, for the term set forth in Paragraph
1(b).

         (b) Term. The Executive's employment under this Agreement shall
commence on the Effective Date and extend through _____________, 2007, subject
to the extension of such term as hereinafter provided and subject to earlier
termination as provided in Paragraph 7. The term of this Agreement shall
automatically be extended for an additional year as of _____________, 2007 and
each anniversary date thereof unless, no later than ninety (90) days prior to
any such renewal date, either the board of directors of Royal Financial (the
"Board"), or a duly authorized committee thereof, on behalf of the Employer, or
the Executive gives written notice to the other, in accordance with Paragraph
15, that the term of this Agreement shall not be so extended.

         2. Duties and Responsibilities.

         (a) The duties and responsibilities of the Executive shall be of an
executive nature as shall be required by the Employer in the conduct of its
business. The Executive's powers and authority shall be as prescribed by the
by-laws of the Employer, if applicable, and shall include all those presently
delegated to the Executive, together with the performance of such other duties
and responsibilities as the Chairman of the Employer may from time to time
assign to the Executive not inconsistent with the Executive's position(s) with
the Employer. The Executive recognizes, that during the period of the
Executive's employment hereunder, the Executive owes an undivided duty of
loyalty to the Employer, and agrees to devote the Executive's entire business
time and attention to the performance of said duties and responsibilities and to
use the Executive's best efforts to promote and develop the business of the
Employer. Recognizing and acknowledging that it is essential for the protection
and enhancement of the name and business of the Employer and the goodwill
pertaining thereto, the Executive shall perform his duties under this Agreement
professionally, in accordance with the applicable laws, rules and regulations
and such standards, policies and procedures established by the Employer and the
industry from time to time. The Executive will not perform any duties for any
other business without the prior written consent of the Employer, but may engage
in charitable, civic or community activities, provided that such duties or
activities do not materially interfere with the proper performance of the
Executive's duties under this Agreement. During the period of employment, the
Executive agrees to serve as a director on the Board of Directors of the
Employer and/or the board of directors or managers, as applicable, of any of its
subsidiaries and affiliates, as well as to serve as a member of any committee of
any said boards, to which the Executive may be elected or appointed.

         (b) Notwithstanding that this Agreement provides for the employment of
the Executive in the Executive's capacity as the President and Chief Executive
Officer of the Bank, nothing herein contained shall assure the Executive of, nor
in any manner shall be construed to constitute an agreement by the Employer to,
the continued employment of the Executive after the expiration or termination
of this Agreement in such capacity or in any other capacity.

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         3. Base Salary. For services performed by the Executive for the
Employer pursuant to this Agreement during the period of employment as provided
in Paragraph 1(b) hereof, the Employer shall pay the Executive a base salary at
the rate of ____________________ dollars ($_________) per year, payable in
substantially equal installments in accordance with the Employer's regular
payroll practices. The Executive's base salary (with any increases under this
Paragraph 3) shall not be subject to reduction without the Executive's written
consent. Any compensation which may be paid to the Executive under any
additional compensation or incentive plan of the Employer or which may be
otherwise authorized from time to time by the Board (or an appropriate committee
thereof) shall be in addition to the base salary to which the Executive shall be
entitled under this Agreement. Executive's base salary shall be subject to
review from time to time, and the Employer may (but is not required to) increase
the base salary as the Board, in its discretion, may determine.

         4. Annual Bonuses. For each fiscal year during the term of employment,
the Executive shall be eligible to receive a bonus in the amount, if any, as may
be determined from time to time by the Board in its discretion.

         5. Equity Incentive Compensation. During the term of employment
hereunder, the Executive shall be eligible to participate in any other
equity-based incentive compensation plan or program adopted by the Employer.

         6. Other Benefits. In addition to the compensation described in
Paragraphs 3, 4 and 5, above, the Executive shall also be entitled to the
following:

         (a) Participation in Benefit Plans. The Executive shall be entitled to
participate in such life insurance, disability, medical, dental, pension, profit
sharing and retirement plans and other programs as may be made generally
available from time to time by the Employer for the benefit of executives of the
Executive's level or its employees generally.

         (b) Vacation. The Executive shall be entitled to such number of days of
vacation with pay during each calendar year during the period of employment in
accordance with the Employer's applicable personnel policy as in effect from
time to time.

         (c) Executive Perquisites. The Employer shall furnish Executive with
such perquisites as are provided from time to time by the Employer to its
officers generally and are suitable to the Executive's position, adequate for
the performance of the Executive's duties hereunder, and reasonable in the
circumstances.

         (d) Expense Reimbursement. The Employer shall reimburse the Executive
for all reasonable expenses incurred by the Executive in performing services
hereunder, which are incurred and accounted for in accordance with the
Employer's policies and procedures applicable thereto.

         7. Termination. Unless earlier terminated in accordance with the
following provisions of this Paragraph 7, the Employer shall continue to employ
the Executive and the Executive shall remain employed by the Employer during the
entire term of this Agreement as set forth in Paragraph 1(b). Paragraph 8 hereof
sets forth certain obligations of the Employer in the event that the Executive's
employment hereunder is terminated. Certain capitalized terms used in this
Paragraph 7 and in Paragraph 8 hereof are defined in Paragraph 7(d), below. In
the event of termination of the Executive's employment with the Employer for any
reason, or if the Executive is required by the Board, the Executive agrees to
resign, and shall automatically be deemed to have resigned, from any offices
(including any directorship) the Executive holds with the Employer and/or any of
its affiliates effective as of the termination date of the Executive's
employment hereunder, or, if applicable, effective as of a date selected by the
Board; provided, however, that the foregoing resignation shall not prejudice or
otherwise affect the Executive's rights and obligations, if any, under this
Agreement.

         (a) Death or Disability. Except to the extent otherwise provided in
Paragraphs 8, 12 and 13 with respect to death benefits and certain post-Date of
Termination obligations of the parties, this Agreement shall terminate
immediately as of the Date of Termination in the event of the Executive's death
or in the event that the Executive becomes Disabled (as hereinafter defined).
The Board shall promptly give the Executive written notice of any such
determination of the Executive's Disability and of any decision of the Board to
terminate the Executive's employment by reason thereof. In the event of
Disability, until the Date of Termination, the base salary payable to

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the Executive under Paragraph 3 hereof shall be reduced dollar-for-dollar by the
amount of disability benefits, if any, paid to the Executive in accordance with
any disability policy or program of the Employer.

         (b) Discharge for Cause. In accordance with the procedures hereinafter
set forth, the Board may discharge the Executive from the Executive's employment
hereunder for Cause (as hereinafter defined). Except to the extent otherwise
provided in Paragraphs 8, 12 and 13 with respect to certain post-Date of
Termination obligations of the parties, this Agreement shall terminate
immediately as of the Date of Termination in the event the Executive is
discharged for Cause. Any discharge of the Executive for Cause shall be
communicated by a Notice of Termination to the Executive given in accordance
with Paragraph 15 of this Agreement.

         (c) Termination for Other Reasons. The Employer may discharge the
Executive without Cause by giving written notice to the Executive in accordance
with Paragraph 15. The Executive may resign from the Executive's employment with
or without Good Reason, without liability to the Employer, by giving written
notice to the Employer in accordance with Paragraph 15 at least thirty (30) days
prior to the Date of Termination; provided, however, that no resignation shall
be treated as a resignation for Good Reason unless the written notice thereof is
given within sixty (60) days after the occurrence which constitutes "Good
Reason" or during the ninety (90) day period described in the final sentence of
Paragraph 7(d)(vi); provided, further, that the Employer retains the right after
proper notice of the Executive's voluntary termination to require the Executive
to cease the Executive's employment immediately. Except to the extent otherwise
provided in Paragraphs 8, 12 and 13 with respect to certain post-Date of
Termination obligations of the parties, this Agreement shall terminate
immediately as of the Date of Termination in the event the Executive is
discharged without Cause or resigns for any reason or no reason.

         (d) Definitions. For purposes of this Agreement, the following
capitalized terms shall have the meanings set forth below:

                  (i) "Accrued Obligations" shall mean, as of the Date of
         Termination, the sum of (A) the Executive's base salary under Paragraph
         3 through the Date of Termination to the extent not theretofore paid,
         (B) the amount of any deferred compensation and other cash compensation
         accrued by the Executive as of the Date of Termination to the extent
         not theretofore paid, (C) any vacation pay, expense reimbursements and
         other cash entitlements accrued by the Executive as of the Date of
         Termination to the extent not theretofore paid, (D) any grants and
         awards vested or accrued under any equity-based incentive compensation
         plan or program and (E) all other benefits which have accrued as of the
         Date of Termination. For the purpose of this Paragraph 7(d)(i), except
         as provided in the applicable plan, program or policy, amounts shall be
         deemed to accrue ratably over the period during which they are earned,
         but no discretionary compensation shall be deemed earned or accrued
         until it is specifically approved by the Board in accordance with the
         applicable plan, program or policy.

                  (ii) "Cause" shall mean (A) the Executive's willful and
         continued (for a period of not less than ten (10) business days after
         written notice thereof) failure to perform substantially the duties of
         his employment (other than as a result of physical or mental
         incapacity, or while on vacation); or (B) the Executive's engaging in
         illegal conduct or gross misconduct which is materially and
         demonstrably injurious to the Employer; or (C) the Executive's
         conviction of a felony involving moral turpitude; provided, however,
         that no act or omission by the Executive shall constitute Cause
         hereunder unless the Employer has given detailed written notice thereof
         to the Executive, and the Executive has failed to remedy such act or
         omission.

                  (iii) "Change in Control" shall mean the occurrence of any one
         of the following events:

                           (A) Any "person" (as such term is used in Sections
                  13(d) and 14(d) of the Securities Exchange Act of 1934, as
                  amended), other than (i) a trustee or other fiduciary holding
                  securities under an employee benefit plan of Royal Financial
                  or any of its subsidiaries, or (ii) a corporation owned
                  directly or indirectly by the stockholders of Royal Financial
                  in substantially the same proportions as their ownership of
                  stock of Royal Financial, is or becomes the "beneficial owner"
                  (as defined in Rule 13d-3 under said Act), directly or
                  indirectly, of securities of Royal Financial representing 25%
                  or more of the total voting power of the then outstanding
                  shares of capital stock of Royal Financial entitled to vote
                  generally in the election of directors (the "Voting

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                  Stock"), provided, however, that the following shall not
                  constitute a change in control: (1) such person becomes a
                  beneficial owner of 25% or more of the Voting Stock as the
                  result of an acquisition of such Voting Stock directly from
                  Royal Financial, or (2) such person becomes a beneficial owner
                  of 25% or more of the Voting Stock as a result of the decrease
                  in the number of outstanding shares of Voting Stock caused by
                  the repurchase of shares by Royal Financial, or

                           (B) During any period of two consecutive years,
                  individuals (the "Incumbent Board"), who at the beginning of
                  such period constitute the Board, and any new director, whose
                  election by the Board or nomination for election by Royal
                  Financial's stockholders was approved by a vote of at least
                  two-thirds (2/3) of the directors then still in office who
                  either were directors at the beginning of the period or whose
                  election or nomination for election was previously so
                  approved, cease for any reason to constitute a majority
                  thereof, or

                           (C) Consummation of a reorganization, merger or
                  consolidation or the sale or other disposition of all or
                  substantially all of the assets of Royal Financial (a
                  "Business Combination"), in each case, unless (1) all or
                  substantially all of the individuals and entities who were the
                  beneficial owners, respectively, of the Voting Stock
                  immediately prior to such Business Combination beneficially
                  own, directly or indirectly, more than 50% of the total voting
                  power represented by the voting securities entitled to vote
                  generally in the election of directors of the corporation
                  resulting from the Business Combination (including, without
                  limitation, a corporation which as a result of the Business
                  Combination owns Royal Financial or all or substantially all
                  of Royal Financial's assets either directly or through one or
                  more subsidiaries) in substantially the same proportions as
                  their ownership, immediately prior to the Business Combination
                  of the Voting Stock of Royal Financial, and (2) at least a
                  majority of the members of the board of directors of the
                  corporation resulting from the Business Combination were
                  members of the Incumbent Board at the time of the execution of
                  the initial agreement, or action of the Incumbent Board,
                  providing for such Business Combination; or

                           (D) Approval by the stockholders of Royal Financial
                  of a plan of complete liquidation or dissolution of Royal
                  Financial.

The Board has final authority to construe and interpret the provisions of the
foregoing Paragraphs (A), (B), (C) and (D) and to determine the exact date on
which a Change in Control has been deemed to have occurred thereunder.

                  (iv) "Date of Termination" shall mean (A) in the event of a
         discharge of the Executive for or without Cause, the date the Executive
         receives a Notice of Termination, or any later date specified in such
         Notice of Termination, as the case may be, (B) in the event of a
         resignation by the Executive, the date specified in the written notice
         to the Employer, which date shall be no less than thirty (30) days from
         the date of such written notice (or such earlier date as the Employer
         may elect in its sole discretion), (C) in the event of the Executive's
         death, the date of the Executive's death, and (D) in the event of
         termination of the Executive's employment by reason of Disability
         pursuant to Paragraph 7(a), the date the Executive receives written
         notice of such termination.

                  (v) "Disabled" and "Disability" shall mean that the Executive
         will be deemed to be disabled upon the earlier of (i) the end of a six
         (6) consecutive month period, or an aggregate period of nine (9) months
         out of any consecutive twelve (12) months, during which, by reason of
         physical or mental injury or disease, the Executive has been unable to
         perform substantially all of the Executive's usual and customary duties
         under this Agreement or (ii) the date that a reputable physician
         selected by the Board, and as to whom the Executive has no reasonable
         objection, determines in writing that the Executive will, by reason of
         physical or mental injury or disease, be unable to perform
         substantially all of the Executive's usual and customary duties under
         this Agreement for a period of at least six (6) consecutive months. If
         any question arises as to whether the Executive is Disabled, upon
         reasonable request therefore by the Board, the Executive shall submit
         to a reasonable medical examination for the purpose of determining the
         existence, nature and extent of any such disability.

                  (vi) "Good Reason" shall mean the occurrence, other than in
         connection with a discharge, of any of the following without the
         Executive's consent: (A) the Executive is not re-elected or is

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         removed from the positions with the Employer set forth in Paragraph
         1(a), other than as a result of the Executive's election or appointment
         to positions of equal or superior scope and responsibility; or (B) the
         Executive shall fail to be vested by the Employer with the power and
         authority of any of said positions, excluding for this purpose any
         isolated action not taken in bad faith and which is remedied by the
         Employer promptly after receipt of written notice thereof given by the
         Executive in accordance with Paragraph 15; or (C) any failure by the
         Employer to materially comply with any of the provisions of this
         Agreement, other than any isolated, insubstantial and inadvertent
         failure not occurring in bad faith and which is remedied by the
         Employer promptly after receipt of written notice thereof given by the
         Executive in accordance with Paragraph 15; or (D) the Employer
         requiring the Executive to be based at an office or location which is
         more than twenty (20) miles from any location of the Royal Financial,
         the Bank or any of their subsidiaries as of the Effective Date or any
         renewal date of the extended term of this Agreement. In addition, any
         termination by the Executive during the ninety (90) day period
         beginning on the first anniversary of the date of a Change in Control
         shall be deemed to be for "Good Reason."

                  (vii) "Notice of Termination" shall mean a written notice
         which (A) indicates the specific termination provision in this
         Agreement relied upon, (B) sets forth in reasonable detail the facts
         and circumstances claimed to provide a basis for termination of the
         Executive's employment under the provision so indicated and (C) if the
         Date of Termination is to be other than the date of receipt of such
         notice or the date otherwise specified under this Agreement, specifies
         the termination date.

         8. Obligations of the Employer Upon Termination. The following
provisions describe the obligations of the Employer to the Executive under this
Agreement upon termination of employment. However, except as explicitly provided
in this Agreement, nothing in this Agreement shall limit or otherwise adversely
affect any rights which the Executive may have under applicable law, under any
other agreement with the Employer or any of its affiliates or subsidiaries, or
under any compensation or benefit plan, program, policy or practice of the
Employer or any of its affiliates or subsidiaries.

         (a) Death, Disability, Discharge for Cause, or Resignation without Good
Reason. In the event this Agreement terminates pursuant to Paragraph 7(a) by
reason of the death or Disability of the Executive, pursuant to Paragraph 7(b)
by reason of the discharge of the Executive by the Employer for Cause, or
pursuant to Paragraph 7(c) by reason of the resignation of the Executive other
than for Good Reason, the Employer shall pay to the Executive, or the
Executive's heirs or estate in the event of the Executive's death, all Accrued
Obligations in a lump sum in cash within thirty (30) days after the Date of
Termination; provided, however, that any portion of the Accrued Obligations
which consists of bonus, deferred compensation, incentive compensation,
insurance benefits or other employee benefits shall be determined and paid in
accordance with the terms of the relevant plan or policy as applicable to the
Executive. In addition, in the event this Agreement terminates pursuant to
Paragraph 7(a) by reason of death of the Executive, the Employer shall pay to
the Executive's heirs or estate death benefits in a lump sum amount equal to six
(6) months of the Executive's then-current annual base salary.

         (b) Discharge without Cause or Resignation with Good Reason. In the
event that this Agreement terminates pursuant to Paragraph 7(c) by reason of the
discharge of the Executive by the Employer other than for Cause, death or
Disability or by reason of the resignation of the Executive for Good Reason:

                  (i) The Employer shall pay all Accrued Obligations to the
         Executive in a lump sum in cash within thirty (30) days after the Date
         of Termination; provided, however, that any portion of the Accrued
         Obligations which consists of bonus, deferred compensation, incentive
         compensation, insurance benefits or other employee benefits shall be
         determined and paid in accordance with the terms of the relevant plan
         or policy as applicable to the Executive;

                  (ii) Within thirty (30) days after the Date of Termination,
         the Employer shall pay to the Executive a bonus for the year during
         which termination occurs, calculated as a pro rata portion of the
         Executive's prior year's bonus amount (if any) based on the number of
         days elapsed during the year through the Date of Termination;

                  (iii) Severance payments equal to one hundred percent (100%)
         of the sum of (A) the Executive's then-current annual base salary, plus
         (B) the average of the sum of the bonus amounts earned by the Executive
         with respect to the three (3) calendar years (or such fewer number of
         years as Executive

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         has been employed) immediately preceding the calendar year in which the
         Executive's Date of Termination occurs, payable in substantially equal
         monthly installments for a period of twelve (12) months (the "Severance
         Period") in accordance with the Employer's regular payroll practices;
         and

                  (iv) Continuation for the Severance Period of the Executive's
         right to maintain COBRA continuation coverage under the applicable
         plans at premium rates on the same "cost-sharing" basis as the
         applicable premiums paid for such coverage by active employees as of
         the Date of Termination.

         (c) Effect of Change in Control. In the event that a Change in Control
occurs and this Agreement thereafter terminates pursuant to Paragraph 7(c) by
reason of the discharge of the Executive by the Employer other than for Cause,
death or Disability, or by reason of the resignation of the Executive for Good
Reason:

                  (i) The Employer shall pay all Accrued Obligations to the
         Executive in a lump sum in cash within thirty (30) days after the Date
         of Termination; provided, however, that any portion of the Accrued
         Obligations which consists of bonus, deferred compensation, incentive
         compensation, insurance benefits or other employee benefits shall be
         determined and paid in accordance with the terms of the relevant plan
         or policy as applicable to the Executive;

                  (ii) Within thirty (30) days after the Date of Termination,
         the Employer shall pay to the Executive a bonus for the year during
         which termination occurs, calculated as a pro rata portion of the
         Executive's prior year's bonus amount (if any) based on the number of
         days elapsed during the year through the Date of Termination;

                  (iii) The Employer shall pay the Executive a lump sum payment
         within thirty (30) days after such termination of employment in the
         amount of three (3) times the sum of the following:

                           (A) the amount of the Executive's annual base salary
                  determined as of the Date of Termination, or the date
                  immediately preceding the date of the Change in Control,
                  whichever is greater; plus

                           (B) the greater of (A) the Executive's bonus amount,
                  if any, for the calendar year immediately preceding that in
                  which the Date of Termination occurs, or (B) the average of
                  the sum of the bonus amounts earned by the Executive with
                  respect to the three (3) calendar years (or such fewer number
                  of years as Executive has been employed) immediately preceding
                  the calendar year in which the Executive's Date of Termination
                  occurs, or if such sum would be greater, with respect to the
                  three (3) calendar years immediately preceding the calendar
                  year of the date of the Change in Control; plus

                           (C) the sum of:

                                    (I) the annual value of the contributions
                           that would have been expected to be made or credited
                           by the Employer to, and benefits expected to be
                           accrued under, the qualified and non-qualified
                           employee profit sharing, 401(k), pension and any
                           other benefit plans maintained by the Employer to or
                           for the benefit of the Executive; plus

                                    (II) the annual value of the Other Benefits
                           described in Paragraph 6(a) and (c) above.

         Notwithstanding the foregoing, if a Change in Control occurs and this
Agreement is terminated prior to the Change in Control pursuant to Paragraph
7(c) by reason of the discharge of the Executive by the Employer other than for
Cause, death or Disability or by reason of the resignation of the Executive for
Good Reason, then the Executive shall be deemed for purposes of this Paragraph
8(c) to have so terminated pursuant to Paragraph 7(c) immediately following the
date the Change in Control occurs if it is reasonably demonstrated by the
Executive that such earlier termination was (i) at the request of a third party
who had taken steps reasonably calculated to effect the

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Change in Control, or (ii) otherwise arose, or the circumstances that
precipitated the termination otherwise arose, in connection with or in
anticipation of the Change in Control.

         (d) Effect on Other Amounts. The payments provided for in this
Paragraph 8 shall be in addition to all other sums then payable and owing to the
Executive, shall be subject to applicable federal and state income and other
withholding taxes and shall be in full settlement and satisfaction of all of the
Executive's claims and demands. Upon such termination of this Agreement, the
Employer shall have no rights or obligations under this Agreement, other than
its obligations under this Paragraph 8, and the Executive shall have no rights
and obligations under this Agreement, other than the Executive's obligations
under Paragraphs 12 and 13 hereof (to the extent applicable); provided, however,
termination of this Agreement shall not terminate the obligation of the
Executive to pay to the Employer any amounts for which the Executive may be
liable to the Employer under any provision of the Sarbanes-Oxley Act of 2002
(including, without limitation, Section 304 of such Act), or any rules and
regulations promulgated thereunder, as amended from time to time.

         (e) Conditions. Any payments or benefits made or provided pursuant to
this Paragraph 8 are subject to the Executive's:

                  (i) compliance with the provisions of Paragraphs 12 and 13
         hereof (to the extent applicable);

                  (ii) delivery to the Employer of an executed Release and
         Severance Agreement, which shall be substantially in the form attached
         hereto as Exhibit A, with such changes therein or additions thereto as
         needed under then applicable law to give effect to its intent and
         purpose; and

                  (iii) delivery to the Employer of a resignation from all
         offices, directorships and fiduciary positions with the Employer, its
         affiliates and employee benefit plans.

Notwithstanding the due date of any post-employment payments, any amounts due
under this Paragraph 8 shall not be due until after the expiration of any
revocation period applicable to the Release and Severance Agreement.

         9. Certain Additional Payments by the Employer.

         (a) Anything in this Agreement to the contrary notwithstanding, in the
event it shall be determined that any payment or distribution by the Employer to
or for the benefit of the Executive (whether paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise, but
determined without regard to any additional payments required under this
Paragraph 9) (a "Payment") would be subject to the excise tax imposed by Section
4999 of the Internal Revenue Code of 1986, as amended (the "Code"), or if any
interest or penalties are incurred by the Executive with respect to such excise
tax (such excise tax, together with any such interest and penalties, being
hereinafter collectively referred to as the "Excise Tax"), then the Executive
shall be entitled to receive an additional payment (a "Gross-Up Payment") in an
amount such that, after payment by the Executive of all taxes (including any
interest or penalties imposed with respect to such taxes), including, without
limitation, any income taxes (and any interest and penalties imposed with
respect thereto) and Excise Tax imposed upon the Gross-Up Payment, the Executive
retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon
the Payment.

         (b) Subject to the provisions of Paragraph (c), below, all
determinations required to be made under this Paragraph 9, including whether and
when a Gross-Up Payment is required and the amount of such Gross-Up Payment and
the assumptions to be utilized in arriving at such determination, shall be made
by the independent public accountants then regularly retained by the Employer
(the "Accounting Firm") in consultation with counsel acceptable to Executive,
which shall provide detailed supporting calculations both to the Employer and
the Executive within fifteen (15) business days of the receipt of notice from
the Executive that there has been a Payment, or such earlier time as is
requested by the Employer. In the event that the Accounting Firm is serving as
accountant or auditor for the individual, entity or group effecting a Change in
Control, the Executive shall appoint another nationally recognized accounting
firm to make the determinations required hereunder (which accounting firm shall
then be referred to as the Accounting Firm hereunder) in consultation with
counsel acceptable to Executive. All fees and expenses of the Accounting Firm
and such counsel shall be borne solely by the Employer. Any Gross-Up Payment, as
determined pursuant to this Paragraph 9, shall be paid by the Employer to the
Executive

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within five (5) days of the receipt of the Accounting Firm's determination. If
the Accounting Firm determines that no Excise Tax is payable by the Executive,
it shall furnish the Executive with a written opinion that failure to report the
Excise Tax on the Executive's applicable federal income tax return would not
result in the imposition of a negligence or similar penalty. Any good faith
determination by the Accounting Firm shall be binding upon the Employer and the
Executive. As a result of the uncertainty in the application of Section 4999 of
the Code at the time of the initial determination by the Accounting Firm
hereunder, it is possible that Gross-Up Payments which will not have been made
by the Employer should have been made ("Underpayment"), consistent with the
calculations required to be made hereunder. In the event that the Employer
exhausts its remedies pursuant to Paragraph (c), below, and the Executive
thereafter is required to make a payment of any Excise Tax, the Accounting Firm
shall determine the amount of the Underpayment that has occurred and any such
Underpayment shall be promptly paid by the Employer to or for the benefit of the
Executive.

         (c) The Executive shall notify the Employer in writing of any claim by
the Internal Revenue Service that, if successful, would require the payment by
the Employer of a Gross-Up Payment. Such notification shall be given as soon as
practicable but no later than fifteen (15) business days after the Executive is
informed in writing of such claim and shall apprise the Employer of the nature
of such claim and the date on which such claim is requested to be paid. The
Executive shall not pay such claim prior to the expiration of the thirty
(30)-day period following the date on which Executive gives such notice to the
Employer (or such shorter period ending on the date that any payment of taxes
with respect to such claim is due). If the Employer notifies the Executive in
writing prior to the expiration of such period that it desires to contest such
claim, the Executive shall:

                  (i) Give the Employer any information reasonably requested by
         the Employer relating to such claim,

                  (ii) Take such action in connection with contesting such claim
         as the Employer shall reasonably request in writing from time to time,
         including, without limitation, accepting legal representation with
         respect to such claim by an attorney reasonably selected by the
         Employer,

                  (iii) Cooperate with the Employer in good faith in order
         effectively to contest such claim, and

                  (iv) Permit the Employer to participate in any proceedings
         relating to such claim;

provided, however, that the Employer shall bear and pay directly all costs and
expenses (including additional interest and penalties) incurred in connection
with such contest and shall indemnify and hold the Executive harmless, on an
after-tax basis, for any Excise Tax or income tax (including interest and
penalties with respect thereto) imposed as a result of such representation and
payment of costs and expenses. Without limiting the foregoing provisions of this
Paragraph (c), the Employer shall control all proceedings taken in connection
with such contest and, at its sole option, may pursue or forgo any and all
administrative appeals, proceedings, hearings and conferences with the taxing
authority in respect of such claim and may, at its sole option, either direct
the Executive to pay the tax claimed and sue for a refund or contest the claim
in any permissible manner; and the Executive agrees to prosecute such contest to
a determination before any administrative tribunal, in a court of initial
jurisdiction and in one or more appellate courts, as the Employer shall
determine; provided, however, that if the Employer directs the Executive to pay
such claim and sue for a refund, the Employer shall advance the amount of such
payment to the Executive on an interest-free basis and shall indemnify and hold
the Executive harmless, on an after-tax basis, from any Excise Tax or income tax
(including interest or penalties with respect thereto) imposed with respect to
such advance or with respect to any imputed income with respect to such advance;
and further provided that any extension of the statute of limitations relating
to payment of taxes for the taxable year of the Executive with respect to which
such contested amount is claimed to be due is limited solely to such contested
amount. Furthermore, the Employer's control of the contest shall be limited to
issues with respect to which a Gross-Up Payment would be payable hereunder and
the Executive shall be entitled to settle or contest, as the case may be, any
other issue raised by the Internal Revenue Service or any other taxing
authority.

         (d) If, after the receipt by the Executive of an amount advanced by the
Employer pursuant to Paragraph (c), above, the Executive becomes entitled to
receive any refund with respect to such claim, the Executive shall (subject to
the Employer's complying with the requirements of said Paragraph (c)) promptly
pay to the Employer the amount of such refund (together with any interest paid
or credited thereon, after taxes applicable

                                       8

<PAGE>

thereto). If, after the receipt by the Executive of an amount advanced by the
Employer pursuant to said Paragraph (c), a determination is made that the
Executive shall not be entitled to any refund with respect to such claim and the
Employer does not notify the Executive in writing of its intent to contest such
denial of refund prior to the expiration of thirty (30) days after such
determination, then such advance shall be forgiven and shall not be required to
be repaid; and the amount of such advance shall offset, to the extent thereof,
the amount of the Gross-Up Payment required to be paid.

         10. Dispute Resolution. In the event any dispute arises and the parties
after good faith efforts are unable to agree as to the calculation of the
amounts payable under this Agreement, it shall be settled in accordance with the
majority opinion of a committee consisting of an accountant chosen by the
Employer, an accountant chosen by the Executive and an independent accountant
acceptable to both the Executive and the Employer, as the case may be. The
committee's determination shall be binding and conclusive on the parties hereto.
The Employer shall pay all fees and expenses of the dispute resolution.

         11. Enforcement. In the event the Employer shall fail to pay any
amounts due to the Executive under this Agreement as they come due, the Employer
agrees to pay interest on such amounts at a rate equal to the prime rate plus
four percent (4%) per annum (as from time to time published in The Wall Street
Journal (Midwest Edition)). The Employer agrees that Executive and any successor
shall be entitled to recover all costs of successfully enforcing any provision
of this Agreement, including reasonable attorneys' fees and costs of litigation,
if Executive is the prevailing party.

         12. Confidential Information.

         The Executive shall not at any time during or following the Executive's
employment with the Employer, directly or indirectly, disclose or use on the
Executive's behalf or another's behalf, publish or communicate, except in the
course of the Executive's employment and in the pursuit of the business of the
Employer or any of its subsidiaries or affiliates, any proprietary information
or data of the Employer or any of its subsidiaries or affiliates, which is not
generally known to the public or which could not be recreated through public
means and which the Employer may reasonably regard as confidential and
proprietary. The Executive recognizes and acknowledges that all knowledge and
information which the Executive has or may acquire in the course of the
Executive's employment, such as, but not limited to the business, developments,
procedures, techniques, activities or services of the Employer or the business
affairs and activities of any customer, prospective customer, individual firm or
entity doing business with the Employer are its sole valuable property, and
shall be held by Executive in confidence and in trust for their sole benefit.
All records of every nature and description which come into the Executive's
possession, whether prepared by the Executive, or otherwise, shall remain the
sole property of the Employer and upon termination of the Executive's employment
for any reason, said records shall be left with the Employer as part of its
property.

         13. Non-Competition; Non-Solicitation. The Executive acknowledges that
the Employer and its affiliates and subsidiaries by nature of their respective
businesses have a legitimate and protectable interest in their clients,
customers and employees with whom they have established significant
relationships as a result of a substantial investment of time and money, and but
for the Executive's employment hereunder, the Executive would not have had
contact with such clients, customers and employees. The Executive agrees that
during the period of the Executive's employment with the Employer and for a
period of one (1) year after termination of the Executive's employment for any
reason (the "Non-Compete Period"), the Executive will not (except in the
Executive's capacity as an employee of the Employer) directly or indirectly, for
the Executive's own account, or as an agent, employee, director, owner, partner,
or consultant of any corporation, firm, partnership, joint venture, syndicate,
sole proprietorship or other entity which has a place of business (whether as a
principal, division, subsidiary, affiliate, related entity, or otherwise)
located within the Market Area (as hereinafter defined):

         (a) engage, directly or indirectly, in any business that provides
banking products or services or that otherwise competes in any way with the
Employer or any of its subsidiaries or affiliates;

         (b) solicit or induce, or attempt to solicit or induce any client or
customer of the Employer or any of its subsidiaries or affiliates not to do
business with the Employer or any of its subsidiaries or affiliates; or

                                       9

<PAGE>

         (c) solicit or induce, or attempt to solicit or induce, any employee or
agent of the Employer or any of its subsidiaries or affiliates to terminate his
or her relationship with the Employer or any of its subsidiaries or affiliates.

         For purposes of this Agreement, "Market Area" shall be an area
encompassed within a twenty (20) mile radius surrounding any location of Royal
Financial, the Bank or any of their subsidiaries as of the Date of Termination
of employment.

         The foregoing provisions shall not be deemed to prohibit (i) the
Executive's ownership, not to exceed five percent (5%) of the outstanding
shares, of capital stock of any corporation whose securities are publicly traded
on a national or regional securities exchange or in the over-the-counter market
or (ii) the Executive serving as a director of other corporations and entities
to the extent these directorships do not inhibit the performance of the
Executive's duties hereunder or conflict with the business of the Employer.

         14. Remedies.

         (a) The Executive acknowledges that the restraints and agreements
herein provided are fair and reasonable, that enforcement of the provisions of
Paragraphs 12 and 13 will not cause the Executive undue hardship and that said
provisions are reasonably necessary and commensurate with the need to protect
the Employer and its legitimate and proprietary business interests and property
from irreparable harm. The Executive acknowledges and agrees that (a) a breach
of any of the covenants and provisions contained in Paragraphs 12 or 13 above,
will result in irreparable harm to the business of the Employer, (b) a remedy at
law in the form of monetary damages for any breach by the Executive of any of
the covenants and provisions contained in Paragraphs 12 and 13 is inadequate,
(c) in addition to any remedy at law or equity for such breach, the Employer
shall be entitled to institute and maintain appropriate proceedings in equity,
including a suit for injunction to enforce the specific performance by Executive
of the obligations hereunder and to enjoin Executive from engaging in any
activity in violation hereof and (d) the covenants on the Executive's part
contained in Paragraphs 12 and 13, shall be construed as agreements independent
of any other provisions in this Agreement, and the existence of any claim,
setoff or cause of action by the Executive against the Employer, whether
predicated on this Agreement or otherwise, shall not constitute a defense or bar
to the specific enforcement by the Employer of said covenants. In the event of a
breach or a violation by the Executive of any of the covenants and provisions of
this Agreement, the running of the Non-Compete Period (but not of Executive's
obligation thereunder) shall be tolled during the period of the continuance of
any actual breach or violation.

         (b) The parties hereto agree that the covenants set forth in Paragraphs
12 and 13 are reasonable with respect to their duration, geographical area and
scope. If the final judgment of a court of competent jurisdiction declares that
any term or provision of Paragraph 12 or 13 is invalid or unenforceable, the
parties agree that the court making the determination of invalidity or
unenforceability shall have the power to reduce the scope, duration, or area of
the term or provision, to delete specific words or phrases, or to replace any
invalid or unenforceable term or provision with a term or provision that is
valid and enforceable and that comes closest to expressing the intention of the
invalid or unenforceable term or provision, and this Agreement shall be
enforceable as so modified after the expiration of the time within which the
judgment may be appealed.

         15. Notices. Any notice or other communication required or permitted to
be given hereunder shall be determined to have been duly given to any party (a)
upon delivery to the address of such party specified below if delivered
personally or by courier; (b) upon dispatch if transmitted by telecopy or other
means of facsimile, provided a copy thereof is also sent by regular mail or
courier; (c) within forty-eight (48) hours after deposit thereof in the U.S.
mail, postage prepaid, for delivery as certified mail, return receipt requested;
or (d) within twenty-four (24) hours after deposit thereof with a reputable
overnight courier (charges prepaid), addressed, in any case to the party at the
following address(es) or telecopy numbers:

                                       10

<PAGE>

         (a) If to Executive, at the address set forth on the signature page
hereof.

         (b) If to the Employer:

             Royal Financial, Inc.
             Royal Savings Bank
             9226 S. Commercial Avenue
             Chicago, Illinois  60617
             Attn: Donald A. Moll, Chief Executive Officer
             Telecopy No.:  (773) 768-4747

             with a copy to:

             Vedder, Price, Kaufman & Kammholz, P.C.
             222 North LaSalle Street
             Chicago, Illinois  60601-1003
             Attn:  Daniel C. McKay II
             Telecopy No.:  (312) 609-5005

or to such other address(es) or telecopy number(s) as any party may designate by
written notice in the aforesaid manner.

         16. Indemnification.

         (a) In the event that legal action is instituted against the Executive
during or after the term hereof by a third party (or parties) based on the
performance or nonperformance by the Executive of the Executive's duties
hereunder, the Employer will assume the defense of such action by its attorneys
or attorneys selected by the Executive reasonably satisfactory to the Employer
and advance the costs and expenses thereof (including reasonable attorneys'
fees) without prejudice to or waiver by the Employer of its rights and remedies
against the Executive. In the event that there is a final judgment entered
against the Executive in any such litigation, and Executive is obligated, in
accordance with its charter, by-laws, or insurance, to reimburse such entities,
the Executive shall be liable to the Employer for all such costs and expenses
paid or incurred by them in the defense of any such litigation (the
"Reimbursement Amount"). The Reimbursement Amount shall be paid by the Executive
within thirty (30) days after rendition of the final judgment. The Employer
shall be entitled to set off the reimbursement amount against all sums which may
be owed or payable by the Employer to the Executive hereunder or otherwise. The
parties shall cooperate in the defense of any asserted claim, demand or
liability against the Executive or the Employer or its subsidiaries or
affiliates. The term "final judgment" as used herein shall be defined to mean
the decision of a court of competent jurisdiction, and in the event of an
appeal, then the decision of the appellate court, after petition for rehearing
has been denied, or the time for filing the same (or the filing of further
appeal) has expired.

         (b) The rights to indemnification under this Section 16 shall be in
addition to any rights which the Executive may now or hereafter have under the
charter or By-laws of the Employer or any of its affiliates or subsidiaries,
under any insurance contract maintained by the Employer or any of its affiliates
or subsidiaries, or any agreement between the Executive and the Employer or any
of its affiliates or subsidiaries.

         17. Full Settlement; No Mitigation. The Employer's obligation to make
the payments and provide the benefits provided for in this Agreement and
otherwise to perform its obligations hereunder shall not be affected by any
set-off, counterclaim, recoupment, defense or other claim, right or action which
the Employer may have against the Executive or others. In no event shall the
Executive be obligated to seek other employment or take any other action by way
of mitigation of the amounts payable to the Executive under any of the
provisions of this Agreement, and such amounts shall not be reduced whether or
not the Executive obtains other employment.

         18. Payment in the Event of Death. In the event payment is due and
owing by the Employer to the Executive under this Agreement upon the death of
the Executive, payment shall be made to such beneficiary as the Executive may
designate in writing, or failing such designation, then the executor of the
Executive's estate, in full settlement and satisfaction of all claims and
demands on behalf of the Executive, shall be entitled to receive all amounts
owing to the Executive at the time of the Executive's death under this
Agreement. Such payments shall be in addition to any other death benefits of the
Employer and in full settlement and satisfaction of all severance benefit
payments provided for in this Agreement.

         19. Entire Understanding. This Agreement constitutes the entire
understanding between the parties relating to Executive's employment hereunder
and supersedes and cancels all prior written and oral understandings and
agreements with respect to such matters and except for the terms and provisions
of any employee benefit or

                                       11

<PAGE>

other compensation plans (or any agreements or awards thereunder), referred to
in this Agreement, or as otherwise expressly contemplated by this Agreement.

         20. Binding Effect. This Agreement shall be binding upon and inure to
the benefit of the heirs and representatives of the Executive and the successors
and assigns of the Employer. The Employer shall require any successor (whether
direct or indirect, by purchase, merger, reorganization, consolidation,
acquisition of property or stock, liquidation, or otherwise) to all or a
substantial portion of its assets, by agreement in form and substance reasonably
satisfactory to the Executive, expressly to assume and agree to perform this
Agreement in the same manner and to the same extent that the Employer would be
required to perform this Agreement if no such succession had taken place.
Regardless of whether such an agreement is executed, this Agreement shall be
binding upon any successor of the Employer in accordance with the operation of
law, and such successor shall be deemed the "Employer" for purposes of this
Agreement.

         21. Tax Withholding. The Employer shall provide for the withholding of
any taxes required to be withheld by federal, state, or local law with respect
to any payment in cash, shares of stock and/or other property made by or on
behalf of the Employer to or for the benefit of the Executive under this
Agreement or otherwise. The Employer may, at its option: (a) withhold such taxes
from any cash payments owing from the Employer to the Executive, (b) require the
Executive to pay to the Employer in cash such amount as may be required to
satisfy such withholding obligations and/or (c) make other satisfactory
arrangements with the Executive to satisfy such withholding obligations.

         22. No Assignment. Except as otherwise expressly provided herein, this
Agreement is not assignable by any party and no payment to be made hereunder
shall be subject to anticipation, alienation, sale, transfer, assignment,
pledge, encumbrance or other charge.

         23. Execution in Counterparts. This Agreement may be executed by the
parties hereto in two (2) or more counterparts, each of which shall be deemed to
be an original, but all such counterparts shall constitute one and the same
instrument, and all signatures need not appear on any one counterpart.

         24. Jurisdiction and Governing Law. Except as provided in Paragraph 10,
jurisdiction over disputes with regard to this Agreement shall be exclusively in
the courts of the State of Illinois, and this Agreement shall be construed,
interpreted and enforced in accordance with and governed by the laws of the
State of Illinois, without regard to the choice of laws provisions of such
State.

         25. Severability. If any provision of this Agreement shall be adjudged
by any court of competent jurisdiction to be invalid or unenforceable for any
reason, such judgment shall not affect, impair or invalidate the remainder of
this Agreement. Furthermore, if the scope of any restriction or requirement
contained in this Agreement is too broad to permit enforcement of such
restriction or requirement to its full extent, then such restriction or
requirement shall be enforced to the maximum extent permitted by law, and the
Executive consents and agrees that any court of competent jurisdiction may so
modify such scope in any proceeding brought to enforce such restriction or
requirement.

         26. Survival. Provisions of this Agreement shall survive the
termination of the Executive's employment with the Employer to the extent
provided herein.

         27. Waiver. The waiver of any party hereto of a breach of any provision
of this Agreement by any other party shall not operate or be construed as a
waiver of any subsequent breach.

         28. Amendment. No change, alteration or modification hereof may be made
except in a writing, signed by each of the parties hereto.

         29. Construction. The language used in this Agreement will be deemed to
be the language chosen by Employer and the Executive to express their mutual
intent and no rule of strict construction shall be applied against any person.
Wherever from the context it appears appropriate, each term stated in either the
singular of plural shall include the singular and the plural, and the pronouns
stated in either the masculine, the feminine or the neuter gender shall include
the masculine, feminine or neuter. The headings of the Paragraphs of this
Agreement are for reference

                                       12

<PAGE>

purposes only and do not define or limit, and shall not be used to interpret or
construe the contents of this Agreement.

         30. No Duplication. Notwithstanding anything herein to the contrary, to
the extent that any compensation or benefits are paid to or received by the
Executive from the Bank, Royal Financial or any other subsidiary of Royal
Financial or the Bank, such compensation or benefits shall be subtracted from
any amounts simultaneously due hereunder from Royal Financial and/or the Bank,
as the case may be.

                            [Signature Page Follows]

                                       13

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Agreement as of the day and year first above written.

                                       ROYAL FINANCIAL, INC.

                                       By:______________________________________
                                       Title:___________________________________

                                       ROYAL SAVINGS BANK

                                       By:______________________________________
                                       Title:___________________________________

                                       EXECUTIVE

Address:_________________________      _________________________________________
_________________________________      Name:  Donald A. Moll
_________________________________
Telecopy No.:____________________

                                       14

<PAGE>

                                               EXHIBIT A TO EMPLOYMENT AGREEMENT
                                               ---------------------------------

                         RELEASE AND SEVERANCE AGREEMENT
                         -------------------------------

         THIS RELEASE AND SEVERANCE AGREEMENT is made and entered into this ____
day of _________, _____ by and between Royal Financial, Inc. and its
subsidiaries and affiliates (including, without limitation, Royal Savings Bank)
(collectively, the "Company") and Donald A. Moll (hereinafter "EXECUTIVE").

         EXECUTIVE'S employment with the Company terminated on __________,
______; and EXECUTIVE has voluntarily agreed to the terms of this RELEASE AND
SEVERANCE AGREEMENT in exchange for severance benefits under the Employment
Agreement ("Employment Agreement") to which EXECUTIVE otherwise would not be
entitled.

         NOW THEREFORE, in consideration for severance benefits provided under
the Employment Agreement, EXECUTIVE on behalf of EXECUTIVE and EXECUTIVE'S
spouse, heirs, executors, administrators, children, and assigns does hereby
fully release and discharge the company, its officers, directors, employees,
agents, subsidiaries and divisions, benefit plans and their administrators,
fiduciaries and insurers, successors, and assigns from any and all claims or
demands for wages, back pay, front pay, attorneys' fees and other sums of money,
insurance, benefits, contracts, controversies, agreements, promises, damages,
costs, actions or causes of action and liabilities of any kind or character
whatsoever, whether known or unknown, from the beginning of time to the date of
these presents, relating to EXECUTIVE'S employment or termination of employment
from the Company, including but not limited to any claims, actions or causes of
action arising under the statutory, common law or other rules, orders or
regulations of the United States or any State or political subdivision thereof
including the Age Discrimination in Employment Act and the Older Workers Benefit
Protection Act.

         EXECUTIVE acknowledges that EXECUTIVE'S obligations pursuant to
Paragraphs 12 and 13, of the Employment Agreement relating to the use or
disclosure of confidential information and non-solicitation of customers and
employees shall continue to apply to EXECUTIVE.

         This Release and Settlement Agreement supersedes any and all other
agreements between EXECUTIVE and the Company except agreements relating to
proprietary or confidential information belonging to the Company, and any other
agreements, promises or representations relating to severance pay or other terms
and conditions of employment are null and void.

         This release does not affect EXECUTIVE'S right to any benefits to which
EXECUTIVE may be entitled under any employee benefit plan, program or
arrangement sponsored or provided by the Company, including but not limited to
the Employment Agreement and the plans, programs and arrangements referred to
therein.

         EXECUTIVE and the Company acknowledge that it is their mutual intent
that the Age Discrimination in Employment Act waiver contained herein fully
comply with the Older Workers Benefit Protection Act. Accordingly, EXECUTIVE
acknowledges and agrees that:

                  (a) The severance benefits exceed the nature and scope of that
         to which EXECUTIVE would otherwise have been legally entitled to
         receive.

                  (b) Execution of this Agreement and the Age Discrimination in
         Employment Act waiver herein is EXECUTIVE'S knowing and voluntary act;

                  (c) EXECUTIVE has been advised by the Company to consult with
         EXECUTIVE'S personal attorney regarding the terms of this Agreement,
         including the aforementioned waiver;

                  (d) EXECUTIVE has had at least twenty-one (21) calendar days
         within which to consider this Agreement;

                                       15

<PAGE>

                  (e) EXECUTIVE has the right to revoke this Agreement in full
         within seven (7) calendar days of execution and that none of the terms
         and provisions of this Agreement shall become effective or be
         enforceable until such revocation period has expired;

                  (f) EXECUTIVE has read and fully understands the terms of this
         Agreement; and

                  (g) Nothing contained in this Agreement purports to release
         any of EXECUTIVE'S rights or claims under the Age Discrimination in
         Employment Act that may arise after the date of execution.

         IN WITNESS WHEREOF, the parties have executed this Agreement on the
date indicated above.

ROYAL FINANCIAL, INC.,                       EXECUTIVE
     for itself and its Subsidiaries
     and Affiliates

By:_________________________________         ___________________________________
Its:________________________________                   Donald A. Moll

                                       16EXHIBIT 10.1

                              AMENDMENT NO. 2004-1

                                       TO

                                CLARK CONSULTING
                           DEFERRED COMPENSATION PLAN

         WHEREAS, Clark, Inc, a Delaware corporation (the "Company"), maintains
the Clark Consulting Deferred Compensation Plan (the "Plan"), effective as of
February 1, 2001 and amended and restated as of December 8, 2003; and

         WHEREAS, all capitalized terms used herein have the meanings set forth
in the Plan unless otherwise indicated in this amendment; and

         WHEREAS, the Plan currently allows Participants to (i) allocate new
deferrals and new company contributions to the Clark, Inc. Stock Unit Fund
Measurement Fund, and (ii) re-allocate any portion of their existing Account
Balances to the Clark, Inc. Stock Unit Fund Measurement Fund. Further, the Plan
currently allows Participants to re-allocate any portion of their Account
Balance from the Clark, Inc. Stock Unit Fund Measurement Fund to any other
Measurement Fund, at any time.

         WHEREAS, the Company desires to amend the Plan to provide that (i)
amounts allocated to the Clark, Inc. Stock Unit Fund Measurement Fund may not
later be re-allocated to any other Measurement Fund at any time, and (ii) all
amounts allocated to the Clark, Inc. Stock Unit Fund Measurement Fund shall be
distributable in actual shares of Stock; and

         WHEREAS, the Company is empowered to amend the Plan pursuant to Section
13.2 of the Plan.

         NOW, THEREFORE, the Company hereby amends the Plan, effective as of
September 17, 2004 (the "Effective Date"), as follows:

         1.       Section 1.6 shall be replaced in its entirety with the
                  following language:

                  "Annual Installment Method" shall be an annual installment
                  payment over the number of years selected by the Participant
                  in accordance with this Plan, calculated as follows: (i) for
                  the first annual installment, the vested Account Balance of
                  the Participant shall be calculated as of the close of
                  business on or around the date on which the Participant
                  Retires, as determined by the Committee in its sole
                  discretion, and (ii) for remaining annual installments, the
                  vested Account Balance of the Participant shall be calculated
                  on every applicable anniversary of the date on which the
                  Participant Retires. Each annual installment shall be
                  calculated by multiplying this balance by a fraction, the
                  numerator of which is one and the denominator of which is the
                  remaining number of annual payments due the Participant. By
                  way of example, if the Participant elects a ten (10) year
                  Annual Installment Method, the first payment shall be 1/10 of
                  the vested Account Balance, calculated as described in this
                  definition. The following year, the payment shall be 1/9 of
                  the vested Account Balance, calculated as described in this
                  definition. Notwithstanding the above, if a Participant, who
                  has elected to receive his or her Retirement Benefit pursuant
                  to an Annual Installment Method in accordance with Article 7,
                  has allocated any portion of his or her Account Balance to the
                  Private Equity Fund Measurement

<PAGE>

                  Fund, Hedge Fund Measurement Fund or other special Measurement
                  Fund, the Committee may, in its sole discretion, (i) delay
                  distribution of any amounts payable in a given year, and/or
                  (ii) adjust the amount of any annual installment(s) by paying
                  an amount that is greater or less than the annual installment
                  calculated pursuant to the 1/n formula. However, if a Disabled
                  Participant is being paid his or her Retirement Benefit in
                  accordance with Article 9, the Committee shall have no ability
                  to either (i) delay distribution of any amounts payable in a
                  given year, or (ii) adjust the amount of any annual
                  installment(s) by paying an amount that is greater or less
                  than the annual installment calculated pursuant to the 1/n
                  formula. Shares of Stock that shall be distributable from a
                  Participant's Account Balance shall be distributable in shares
                  of actual Stock in the same manner previously described. Each
                  annual installment shall be rounded to the closest full share
                  and subsequent annual installments shall be adjusted
                  accordingly. If a fractional share remains at the time the
                  final annual installment is payable, such fractional share
                  shall be paid in cash.

         2.       Section 3.10(a) shall be replaced in its entirety with the
                  following language:

                  MEASUREMENT FUNDS. Subject to the restrictions found in
                  Sections 3.10(c), (d) and (e) below, the Participant may elect
                  one or more of the measurement funds selected by the
                  Committee, in its sole discretion, which are based on certain
                  mutual funds (the "Measurement Funds"), for the purpose of
                  crediting or debiting additional amounts to his or her Account
                  Balance. As necessary, the Committee may, in its sole
                  discretion, discontinue, substitute or add a Measurement Fund.
                  Each such action will take effect as of the first day of the
                  first month that begins at least thirty (30) days after the
                  day on which the Committee gives Participants advance written
                  notice of such change.

         3.       Section 3.10(b) shall be replaced in its entirety with the
                  following language:

                  ELECTION OF MEASUREMENT FUNDS. Subject to the restrictions
                  found in Sections 3.10(c), (d) and (e) below, a Participant,
                  in connection with his or her initial deferral election in
                  accordance with Section 3.3(a) above, shall elect, on the
                  Election Form, one or more Measurement Fund(s) (as described
                  in Section 3.10(a) above) to be used to determine the amounts
                  to be credited or debited to his or her Account Balance. If a
                  Participant does not elect any of the Measurement Funds as
                  described in the previous sentence, the Participant's Account
                  Balance shall automatically be allocated into the lowest-risk
                  Measurement Fund, as determined by the Committee, in its sole
                  discretion. Subject to the restrictions found in Sections
                  3.10(c), (d) and (e) below, the Participant may (but is not
                  required to) elect, by submitting an Election Form to the
                  Committee that is accepted by the Committee, to add or delete
                  one or more Measurement Fund(s) to be used to determine the
                  amounts to be credited or debited to his or her Account
                  Balance, or to change the portion of his or her Account
                  Balance allocated to each previously or newly elected
                  Measurement Fund. If an election is made in accordance with
                  the previous sentence, it shall apply as of the first business
                  day deemed reasonably practicable by the Committee, in its
                  sole discretion, and shall continue thereafter for each
                  subsequent day in which the Participant participates in the
                  Plan, unless changed in accordance with the previous sentence;
                  provided, however, an election allocating amounts to and/or
                  from the Private Equity Fund Measurement Fund,

                                       2
<PAGE>

                  Hedge Fund Measurement Fund or other special Measurement Fund
                  or to the Clark, Inc. Stock Unit Fund Measurement Fund, where
                  applicable, shall be subject to the additional restrictions
                  described below.

         4.       Section 3.10(c)(i) shall be replaced in its entirety with the
                  following language:

                  A Participant may elect to allocate any portion of his or her
                  new deferrals and new company contributions and/or re-allocate
                  any portion of his or her Account Balance to the Clark, Inc.
                  Stock Unit Fund Measurement Fund. Notwithstanding the
                  preceding sentence, the Committee may postpone any allocation
                  or re-allocation that would otherwise be made in a period in
                  which the Participant would be prohibited (by Company policy
                  or otherwise) from acquiring equity securities of the Company
                  until after such period has expired. However, a Participant
                  may not re-allocate any portion of his or her Account Balance
                  from the Clark, Inc. Stock Unit Fund Measurement Fund to any
                  other Measurement Fund. Amounts allocated to the Clark, Inc.
                  Stock Unit Fund Measurement Fund shall only be distributable
                  in actual shares of Stock, except that a fractional share, if
                  any, shall be paid in cash.

         5.       Section 3.10(c)(ii) shall be replaced in its entirety with the
                  following language:

                  Any stock dividends, cash dividends or other non-cash
                  dividends that would have been payable on the Stock credited
                  to a Participant's Account Balance shall be credited to the
                  Participant's Account Balance in the form of additional shares
                  of Stock and shall automatically and irrevocably be deemed to
                  be re-invested in the Clark, Inc. Stock Unit Fund Measurement
                  Fund until such amounts are distributed to the Participant.
                  The number of shares credited to the Participant for a
                  particular stock dividend shall be equal to (a) the number of
                  shares of Stock credited to the Participant's Account Balance
                  as of the payment date for such dividend in respect of each
                  share of Stock, multiplied by (b) the number of additional
                  shares of Stock actually paid as a dividend in respect of each
                  share of Stock. The number of shares credited to the
                  Participant for a particular cash dividend or other non-cash
                  dividend shall be equal to (a) the number of shares of Stock
                  credited to the Participant's Account Balance as of the
                  payment date for such dividend in respect of each share of
                  Stock, multiplied by (b) the fair market value of the
                  dividend, divided by (c) the "fair market value" of the Stock
                  on the payment date for such dividend.

         6.       Section 5.4 shall be replaced in its entirety with the
                  following language:

                  WITHDRAWAL ELECTION. A Participant may elect, at any time, to
                  withdraw all or a portion of his or her vested Account
                  Balance, excluding the portion of the Account Balance
                  allocated to the Clark, Inc. Stock Unit Fund Measurement Fund,
                  the Private Equity Fund Measurement Fund, the Hedge Fund
                  Measurement Fund or other special Measurement Fund. For
                  purposes of this Section 5.4, the value of a Participant's
                  vested Account Balance shall be calculated as of the close of
                  business on or around the date on which receipt of the
                  Participant's election is acknowledged by the Committee, as
                  determined by the Committee in its sole discretion, less a
                  withdrawal penalty equal to 10% of the amount withdrawn (the
                  net amount shall be referred to as the "Withdrawal Amount").
                  This election can be made at any time, before or after
                  Retirement or Disability,

                                       3
<PAGE>

                  and whether or not the Participant is in the process of being
                  paid pursuant to an installment payment schedule. The
                  Participant shall make this election by giving the Committee
                  advance written notice of the election in a form determined
                  from time to time by the Committee. The Participant shall be
                  paid the Withdrawal Amount within sixty (60) days of his or
                  her election. Once the Withdrawal Amount is paid, the
                  Participant's participation in the Plan shall be suspended for
                  the remainder of the Plan Year in which the withdrawal is
                  elected and for one (1) full Plan Year thereafter.

         7.       Except as specifically provided in this Amendment, the
                  remaining provisions of the Plan, as amended, shall remain in
                  full force and effect.

         The Company has caused this Amendment to be signed by a duly authorized
officer effective as of the Effective Date.

                                        CLARK, INC.,
                                        a Delaware corporation

                                        By:    /s/ Thomas M. Pyra
                                               --------------------------------
                                        Title: Chief Operating Officer

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CLARK CONSULTING
Deferred Compensation Plan
Master Plan Document

================================================================================

                        Effective as of February 1, 2001

                  Amended and Restated as of December 8, 2003

                               Copyright (C) 2003
                              By Clark Consulting
                          Executive Benefits Practice
                              All Rights Reserved

<PAGE>

CLARK CONSULTING
Deferred Compensation Plan
Master Plan Document
================================================================================

                               TABLE OF CONTENTS
                                                                            Page
ARTICLE 1      Definitions ....................................................1
ARTICLE 2      Selection, Enrollment, Eligibility..............................7

     2.1       Selection by Committee..........................................7
     2.2       Enrollment Requirements.........................................7
     2.3       Eligibility; Commencement of Participation .....................7
     2.4       Termination of Participation and/or Deferrals ..................8

ARTICLE 3      Deferral Commitments/Company Contribution Amounts/Supplemental
               Matching Amounts/ 401(k) Restoration Matching Amounts/
               Vesting/Crediting/Taxes.........................................8

     3.1       Minimum Deferrals...............................................8
     3.2       Maximum Deferral................................................8
     3.3       Election to Defer; Effect of Election Form......................9
     3.4       Withholding and Crediting of Annual Deferral Amounts............9
     3.5       Rollover Amount................................................10
     3.6       Company Contribution Amount....................................10
     3.7       Annual 401(k) Restoration Matching Amount .....................10
     3.8       Annual Supplemental Matching Amount............................11
     3.9       Vesting........................................................11
     3.10      Crediting/Debiting of Account Balances.........................12
     3.11      FICA and Other Taxes...........................................15

ARTICLE 4      Deduction Limitation...........................................16

     4.1       Deduction Limitation on Benefit Payments.......................16

ARTICLE 5      Short-Term Payout; Unforeseeable Financial Emergencies;
               Withdrawal Election............................................16
     5.1       Short-Term Payout..............................................16
     5.2       Other Benefits Take Precedence Over Short-Term ................17
     5.3       Withdrawal Payout/Suspensions for Unforeseeable Financial
               Emergencies....................................................17
     5.4       Withdrawal Election............................................18

ARTICLE 6      Change In Control Benefit......................................18
     6.1       Change in Control Benefit......................................18

ARTICLE 7      Retirement Benefit.............................................18

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Deferred Compensation Plan
Master Plan Document
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     7.1       Retirement Benefit.............................................18
     7.2       Payment of Retirement Benefit..................................18

ARTICLE 8      Termination Benefit............................................19
     8.1       Termination Benefit............................................19
     8.2       Payment of Termination Benefit.................................19

ARTICLE 9      Disability Waiver and Benefit..................................19
     9.1       Disability Waiver..............................................19
     9.2       Continued Eligibility; Disability Benefit......................20

ARTICLE 10     Survivor Benefit...............................................21

     10.1      Survivor Benefit...............................................21
     10.2      Payment of Survivor Benefit....................................21

ARTICLE 11     Beneficiary Designation........................................21

     11.1      Beneficiary....................................................21
     11.2      Beneficiary Designation; Change; Spousal Consent ..............21
     11.3      Acknowledgement................................................21
     11.4      No Beneficiary Designation.....................................21
     11.5      Doubt as to Beneficiary........................................22
     11.6      Discharge of Obligations.......................................22

ARTICLE 12     Leave of Absence...............................................22
     12.1      Paid Leave of Absence..........................................22
     12.2      Unpaid Leave of Absence........................................22

ARTICLE 13     Termination, Amendment or Modification.........................22

     13.1      Termination....................................................22
     13.2      Amendment......................................................22
     13.3      Plan Agreement.................................................23
     13.4      Effect of Payment..............................................23

ARTICLE 14     Administration ................................................23
     14.1      Committee Duties...............................................23
     14.2      Administration Upon Change In Control..........................23
     14.3      Agents.........................................................24
     14.4      Binding Effect of Decisions....................................24
     14.5      Indemnity of Committee.........................................24
     14.6      Employer Information...........................................24

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CLARK CONSULTING
Deferred Compensation Plan
Master Plan Document
================================================================================

ARTICLE 15     Other Benefits and Agreements..................................24
     15.1      Coordination with Other Benefits...............................24

ARTICLE 16 Claims Procedures..................................................24

     16.1      Presentation of Claim..........................................24
     16.2      Notification of Decision.......................................25
     16.3      Review of a Denied Claim.......................................25
     16.4      Decision on Review.............................................25
     16.5      Legal Action...................................................26

ARTICLE 17     Trust .........................................................26

     17.1      Establishment of the Trust.....................................26
     17.2      Interrelationship of the Plan and the Trust....................26
     17.3      Distributions From the Trust...................................26

ARTICLE 18     Miscellaneous..................................................27

     18.1      Status of Plan.................................................27
     18.2      Unsecured General Creditor.....................................27
     18.3      Employer's Liability...........................................27
     18.4      Nonassignability...............................................27
     18.5      Not a Contract of Employment...................................27
     18.6      Furnishing Information.........................................27
     18.7      Terms..........................................................28
     18.8      Captions.......................................................28
     18.9      Governing Law..................................................28
     18.10     Notice.........................................................28
     18.11     Successors.....................................................28
     18.12     Spouse's Interest..............................................28
     18.13     Validity.......................................................28
     18.14     Incompetent....................................................28
     18.15     Court Order ...................................................29
     18.16     Distribution in the Event of Taxation..........................29
     18.17     Insurance......................................................29
     18.18     Legal Fees To Enforce Rights After Change in Control...........29

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CLARK CONSULTING
Deferred Compensation Plan
Master Plan Document
================================================================================

                                CLARK CONSULTING
                           DEFERRED COMPENSATION PLAN
                        Effective as of February 1, 2001
                   Amended and Restated as of December 8, 2003

                                    PURPOSE

         The purpose of this Plan is to provide specified benefits to a select
group of management or highly compensated Employees who contribute materially to
the continued growth, development and future business success of Clark, Inc., a
Delaware corporation, and its subsidiaries, if any, that sponsor this Plan. This
Plan shall be unfunded for tax purposes and for purposes of Title I of ERISA.
This Deferred Compensation Plan supersedes in its entirety the Clark/Bardes
Consulting, Inc. Executive Deferred Compensation Plan (hereinafter, the
"Predecessor Plan") for any and all participants in the Predecessor Plan who
have complied with the enrollment requirements set forth in Article 2 of this
Plan. Any and all balances accrued by such participants under the Predecessor
Plan shall be subject to the terms and conditions of this Plan and shall be
referred to as the "Rollover Amount."

                                    ARTICLE 1
                                  DEFINITIONS

         For the purposes of this Plan, unless otherwise clearly apparent from
the context, the following phrases or terms shall have the following indicated
meanings:

1.1      "Account Balance" shall mean, with respect to a Participant, a credit
         on the records of the Employer equal to the sum of (i) the Deferral
         Account balance, (ii) the Company Contribution Account balance, (iii)
         Supplemental Matching Account balance, and (iv) the 401(k) Restoration
         Matching Account balance. The Account Balance, and each other specified
         account balance, shall be a bookkeeping entry only and shall be
         utilized solely as a device for the measurement and determination of
         the amounts to be paid to a Participant, or his or her designated
         Beneficiary, pursuant to this Plan.

1.2      "Annual Bonus" shall mean any compensation, in addition to Base Annual
         Salary, Commissions, and Special Incentive Plan Amounts, attributable
         to a Plan Year, as further specified on an Election Form approved by
         the Committee in its sole discretion, under any Employer's annual bonus
         and cash incentive plans, excluding stock options.

1.3      "Annual Deferral Amount" shall mean that portion of a Participant's
         Base Annual Salary, Annual Bonus, Commissions, Special Incentive Plan
         Amounts, Annual Qualified Plan Make-Up Amounts, and the Annual 401(k)
         Refund Amounts that a Participant elects to have deferred, and is
         deferred, in accordance with Article 3, for any one Plan Year. In the
         event of a Participant's Retirement, Disability (if deferrals cease in
         accordance with Section 9.1), death or a Termination of Employment
         prior to the end of a Plan Year, such year's Annual Deferral Amount
         shall be the actual amount withheld prior to such event.

1.4      "Annual 401(k) Refund Amount" shall mean an amount equal to any forced
         reduction in a Participant's 401(k) deferrals for such Plan Year (i)
         that are refunded to such Participant as a result of the
         nondiscrimination testing, and (ii) that a Participant has
         affirmatively elected under this Plan to defer from Base Annual Salary
         or Commissions.

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CLARK CONSULTING
Deferred Compensation Plan
Master Plan Document
================================================================================

1.5      "Annual 401(k) Restoration Matching Amount" for any one Plan Year shall
         be the amount determined in accordance with Section 3.7.

1.6      "Annual Installment Method" shall be an annual installment payment over
         the number of years selected by the Participant in accordance with this
         Plan, calculated as follows: (i) for the first annual installment, the
         vested Account Balance of the Participant shall be calculated as of the
         close of business on or around the date on which the Participant
         Retires, as determined by the Committee in its sole discretion, and
         (ii) for remaining annual installments, the vested Account Balance of
         the Participant shall be calculated on every applicable anniversary of
         the date on which the Participant Retires. Each annual installment
         shall be calculated by multiplying this balance by a fraction, the
         numerator of which is one and the denominator of which is the remaining
         number of annual payments due the Participant. By way of example, if
         the Participant elects a ten (10) year Annual Installment Method, the
         first payment shall be 1/10 of the vested Account Balance, calculated
         as described in this definition. The following year, the payment shall
         be 1/9 of the vested Account Balance, calculated as described in this
         definition. Notwithstanding the above, if a Participant, who has
         elected to receive his or her Retirement Benefit pursuant to an Annual
         Installment Method in accordance with Article 7, has allocated any
         portion of his or her Account Balance to the Private Equity Measurement
         Fund, Hedge Fund Measurement Fund or other special Measurement Fund,
         the Committee may, in its sole discretion, (i) delay distribution of
         any amounts payable in a given year, and/or (ii) adjust the amount of
         any annual installment(s) by paying an amount that is greater or less
         than the annual installment calculated pursuant to the 1/n formula.
         However, if a Disabled Participant is being paid his or her Retirement
         Benefit in accordance with Article 9, the Committee shall have no
         ability to either (i) delay distribution of any amounts payable in a
         given year, or (ii) adjust the amount of any annual installment(s) by
         paying an amount that is greater or less than the annual installment
         calculated pursuant to the 1/n formula.

1.7      "Annual Qualified Plan Make-Up Amounts" shall mean an amount equal to
         any qualified plan make-up amounts for such Plan Year (i) that are
         currently made on behalf of the Participant as a result of such
         Participant's participation in a past or current qualified plan other
         than the 401(k) Plan, and (ii) that a Participant has affirmatively
         elected to defer under this Plan.

1.8      "Annual Supplemental Matching Amount" shall mean, for any one Plan
         Year, the amount determined in accordance with Section 3.8.

1.9      "Base Annual Salary" shall mean the annual cash compensation relating
         to services performed during any calendar year, excluding bonuses,
         commissions, overtime, fringe benefits, stock options, relocation
         expenses, incentive payments, non-monetary awards, director fees and
         other fees, and automobile and other allowances paid to a Participant
         for employment services rendered (whether or not such allowances are
         included in the Employee's gross income). Base Annual Salary shall be
         calculated before reduction for compensation voluntarily deferred or
         contributed by the Participant pursuant to all qualified or
         non-qualified plans of any Employer and shall be calculated to include
         amounts not otherwise included in the Participant's gross income under
         Code Sections 125, 402(e)(3), 402(h), or 403(b) pursuant to plans
         established by any Employer; provided, however, that all such amounts
         will be included in compensation only to the extent that had there been
         no such plan, the amount would have been payable in cash to the
         Employee.

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CLARK CONSULTING
Deferred Compensation Plan
Master Plan Document
================================================================================

1.10     "Beneficiary" shall mean one or more persons, trusts, estates or other
         entities, designated in accordance with Article 11, that are entitled
         to receive benefits under this plan upon the death of a Participant.

1.11     "Beneficiary Designation Form" shall mean the form established from
         time to time by the Committee that a Participant completes, signs and
         returns to the Committee to designate one or more Beneficiaries.

1.12     "Board" shall mean the board of directors of the Company.

1.13     "Change in Control" shall mean:

         (a)      With respect to all Participants, a "Change in Control" shall
                  mean the first to occur of any of the following events:

                  (i)      Any "person" (as that term is used in Section 13 and
                           14(d)(2) of the Securities Exchange Act of 1934
                           ("Exchange Act")) becomes the beneficial owner (as
                           that term is used in Section 13(d) of the Exchange
                           Act), directly or indirectly, of fifty percent (50%)
                           or more of the Company's capital stock entitled to
                           vote in the election of directors;

                  (ii)     During any period of not more than two consecutive
                           years, not including any period prior to the adoption
                           of this Plan, individuals who, at the beginning of
                           such period constitute the board of directors of the
                           Company, and any new director (other than a director
                           designated by a person who has entered into an
                           agreement with the Company to effect a transaction
                           described in clause (i), (iii), (iv) or (v) of this
                           Section 1.13) whose election by the board of
                           directors or nomination for election by the Company's
                           stockholders was approved by a vote of at least
                           three-fourths (3/4ths) of the directors then still in
                           office, who either were directors at the beginning of
                           the period or whose election or nomination for
                           election was previously so approved, cease for any
                           reason to constitute at least a majority thereof;

                  (iii)    The shareholders of the Company approve any
                           consolidation or merger of the Company, other than a
                           consolidation or merger of the Company in which the
                           holders of the common stock of the Company
                           immediately prior to the consolidation or merger hold
                           more than fifty percent (50%) of the common stock of
                           the surviving corporation immediately after the
                           consolidation or merger;

                  (iv)     The shareholders of the Company approve any plan or
                           proposal for the liquidation or dissolution of the
                           Company; or

                  (v)      The shareholders of the Company approve the sale or
                           transfer of all or substantially all of the assets of
                           the Company to parties that are not within a
                           "controlled group of corporations" (as defined in
                           Code Section 1563) in which the Company is a member.

         (b)      With respect to those Participants employed by a division of
                  the Company, a subsidiary or a division of a subsidiary, which
                  is affected by either (i) or (ii) described below, "Change in
                  Control" shall mean the first to occur of either of the
                  following events:

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CLARK CONSULTING
Deferred Compensation Plan
Master Plan Document
================================================================================

                  (i)      The shareholders of the Company approve any plan or
                           proposal for the liquidation or dissolution of the
                           division of the Company, the subsidiary or the
                           division of the subsidiary.

                  (ii)     The shareholders of the Company approve the sale or
                           transfer of all or substantially all of the assets of
                           the division of the Company, the subsidiary or the
                           division of the subsidiary to parties that are not
                           within a "controlled group of corporations" (as
                           defined in Section 1563 of the Code) in which the
                           Company is a member.

1.14     "Change in Control Benefit" shall have the meaning set forth in Article
         6.

1.15     "Claimant" shall have the meaning set forth in Section 16.1.

1.16     "Code" shall mean the Internal Revenue Code of 1986, as it may be
         amended from time to time.

1.17     "Commissions" shall mean the cash commissions in excess of Draw
         attributable to a Plan Year, as further specified on an Election Form
         approved by the Committee in its sole discretion, such excess being
         determined by the Committee, in its sole discretion.

1.18     "Committee" shall mean the Committee described in Article 14.

1.19     "Company" shall mean Clark, Inc., a Delaware corporation, and any
         successor to all or substantially all of the Company's assets or
         business.

1.20     "Company Contribution Account" shall mean (i) the sum of the
         Participant's Company Contribution Amounts, plus (ii) amounts credited
         or debited to the Participant's Company Contribution Account in
         accordance with this Plan, less (iii) all distributions made to the
         Participant or his or her Beneficiary pursuant to this Plan that relate
         to the Participant's Company Contribution Account.

1.21     "Company Contribution Amount" shall mean, for any one Plan Year, the
         amount determined in accordance with Section 3.6.

1.22     "Deduction Limitation" shall mean the limitation on a benefit that may
         otherwise be distributable pursuant to the provisions of this Plan, as
         set forth in Article 4.

1.23     "Deferral Account" shall mean (i) that portion of a Participant's
         Rollover Amount which is represented by the Participant's aggregate
         deferral contributions described in Sections 4.2.1 and 4.2.2 of the
         Predecessor Plan, as well as any appreciation (or depreciation)
         specifically attributable to such deferral contributions accumulated
         under the Predecessor Plan, plus (ii) the sum of all of a Participant's
         Annual Deferral Amounts, plus (iii) amounts credited in accordance with
         all the applicable crediting and debiting provisions of this Plan that
         relate to the Participant's Deferral Account, less (iv) all
         distributions made to the Participant or his or her Beneficiary
         pursuant to this Plan that relate to his or her Deferral Account.

1.24     "Disability" shall mean a determination (i) by the carrier of any
         individual or group disability insurance policy, sponsored by the
         Participant's Employer, or (ii) by the Social Security Administration,
         that a Participant is totally and permanently disabled. Upon request by
         the Employer, the Participant must submit proof of the carrier's or
         Social Security Administration's determination to his or her Employer.

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CLARK CONSULTING
Deferred Compensation Plan
Master Plan Document
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1.25     "Disability Benefit" shall mean the benefit set forth in Article 9.

1.26     "Draw" shall mean a payment pursuant to an arrangement in which the
         Company lends money to a Participant and retains a right to offset such
         payment against future Commissions earned by such Participant.

1.27     "Election Form" shall mean the form established from time to time by
         the Committee that a Participant completes, signs and returns to the
         Committee to make an election under the Plan.

1.28     "Employee" shall mean a person who is an employee of any Employer.

1.29     "Employer(s)" shall mean the Company and/or any of its subsidiaries or
         affiliates (now in existence or hereafter formed or acquired) that have
         been selected by the Board to participate in the Plan and have adopted
         the Plan as a sponsor.

1.30     "ERISA" shall mean the Employee Retirement Income Security Act of 1974,
         as it may be amended from time to time.

1.31     "First Plan Year" shall mean the period beginning August 1, 2002 and
         ending December 31, 2002.

1.32     "401(k) Plan" shall be that certain Clark, Inc. 401(k) Savings Plan
         (formerly known as the Clark/Bardes, Inc. 401(k) Savings Plan), dated
         September 1, 2001 adopted by the Company.

1.33     "401(k) Restoration Matching Account" shall mean (i) that portion of a
         Participant's Rollover Amount which is represented by the Participant's
         aggregate qualified plan matching contributions described in Section
         4.2.3 of the Predecessor Plan, as well as any appreciation (or
         depreciation) specifically attributable to such qualified plan matching
         contributions accumulated under the Predecessor Plan, plus (ii) the sum
         of all of a Participant's Annual 401(k) Restoration Matching Amounts,
         plus (iii) amounts credited in accordance with all the applicable
         crediting and debiting provisions of this Plan that relate to the
         Participant's 401(k) Restoration Matching Account, less (iv) all
         distributions made to the Participant or his or her Beneficiary
         pursuant to this Plan that relate to the Participant's 401(k)
         Restoration Matching Account.

1.34     "Months of Service" shall mean (i) each consecutive and complete
         calendar month of employment in which a Participant has been employed
         by one or more Employers, and (ii) each consecutive and complete
         calendar month of employment in which a Participant has been employed
         by one of the predecessor employers, identified on Appendix A;
         provided, however, such Participant must have been employed by the
         predecessor employer on the date specified on Appendix A and shall only
         receive credit for an uninterrupted period of service which immediately
         precedes the date specified on Appendix A.

1.35     "Participant" shall mean any Employee (i) who is selected to
         participate in the Plan, (ii) who elects to participate in the Plan,
         (iii) who signs a Plan Agreement, an Election Form and a Beneficiary
         Designation Form, (iv) whose signed Plan Agreement, Election Form and
         Beneficiary Designation Form are accepted by the Committee, (v) who
         commences participation in the Plan, and (vi) whose Plan Agreement has
         not terminated. A spouse or former spouse of a Participant shall not be
         treated as a Participant in the Plan or have an account balance under
         the Plan, even if he or she has an interest in the Participant's
         benefits under the Plan as a result of applicable law or property
         settlements resulting from legal separation or divorce.

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CLARK CONSULTING
Deferred Compensation Plan
Master Plan Document
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1.36     "Plan" shall mean the Clark Consulting Deferred Compensation Plan,
         effective February 1, 2001 (formerly known as the Clark/Bardes
         Consulting, Inc. Executive Deferred Compensation Plan and the
         Clark/Bardes Consulting Deferred Compensation Plan), which shall be
         evidenced by this instrument and by each Plan Agreement, as they may be
         amended from time to time.

1.37     "Plan Agreement" shall mean a written agreement, as may be amended from
         time to time, which is entered into by and between an Employer and a
         Participant. Each Plan Agreement executed by a Participant and the
         Participant's Employer shall provide for the entire benefit to which
         such Participant is entitled under the Plan; should there be more than
         one Plan Agreement, the Plan Agreement bearing the latest date of
         acceptance by the Employer shall supersede all previous Plan Agreements
         in their entirety and shall govern such entitlement. The terms of any
         Plan Agreement may be different for any Participant, and any Plan
         Agreement may provide additional benefits not set forth in the Plan or
         limit the benefits otherwise provided under the Plan; provided,
         however, that any such additional benefits or benefit limitations must
         be agreed to by both the Employer and the Participant.

1.38     "Plan Year" shall, except for the First Plan Year, mean a period
         beginning on January 1 of each calendar year and continuing through
         December 31 of such calendar year.

1.39     "Retirement", "Retire(s)" or "Retired" shall mean severance from
         employment from all Employers for any reason other than a leave of
         absence, death or Disability on or after the earlier of the attainment
         of (a) age sixty-five (65) or (b) age fifty-five (55) with five (5)
         Years of Service.

1.40     "Retirement Benefit" shall mean the benefit set forth in Article 7.

1.41     "Rollover Amount" shall mean the amount determined in accordance with
         Section 3.5.

1.42     "Short-Term Payout" shall mean the payout set forth in Section 5.1.

1.43     "Special Incentive Plan Amounts" shall mean any compensation
         attributable to a Plan Year under any Employer's incentive arrangement,
         which has been designated by the Committee for deferral under this
         Plan, as such compensation is further defined on an Election Form
         approved by the Committee in its sole discretion.

1.44     "Stock" shall mean Clark, Inc. common stock or any other equity
         securities of the Company designated by the Committee.

1.45     "Supplemental Matching Account" shall mean (i) that portion of a
         Participant's Rollover Amount which is represented by the Participant's
         aggregate company matching contributions described in Section 4.3 of
         the Predecessor Plan, as well as any appreciation (or depreciation)
         specifically attributable to such matching contributions accumulated
         under the Predecessor Plan, plus (ii) the sum of the Participant's
         Annual Supplemental Matching Amounts, plus (iii) amounts credited or
         debited in accordance with all the applicable crediting and debiting
         provisions of this Plan that relate to the Participant's Supplemental
         Matching Account, less (iv) all distributions made to the Participant
         or his or her Beneficiary pursuant to this Plan that relate to the
         Participant's Supplemental Matching Account.

1.46     "Survivor Benefit" shall mean the benefit set forth in Article 10.

1.47     "Termination Benefit" shall mean the benefit set forth in Article 8.

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1.48     "Termination of Employment" shall mean the severing of employment with
         all Employers, voluntarily or involuntarily, for any reason other than
         Retirement, Disability, death or an authorized leave of absence.

1.49     "Trust" shall mean one or more trusts established pursuant to that
         certain Master Trust Agreement between the Company and the trustee
         named therein, as amended from time to time.

1.50     "Unforeseeable Financial Emergency" shall mean an unanticipated
         emergency that is caused by an event beyond the control of the
         Participant that would result in severe financial hardship to the
         Participant resulting from (i) a sudden and unexpected illness or
         accident of the Participant or a dependent of the Participant, (ii) a
         loss of the Participant's property due to casualty, or (iii) such other
         extraordinary and unforeseeable circumstances arising as a result of
         events beyond the control of the Participant, all as determined in the
         sole discretion of the Committee.

1.51     "Years of Service" shall mean (i) each consecutive twelve (12) month
         period in which a Participant has been employed by one or more
         Employers, and (ii) each consecutive twelve (12) month period in which
         the Participant was employed by one of the predecessor employers,
         identified on Appendix A; provided, however, such Participant must have
         been employed by the predecessor employer on the date specified on
         Appendix A and shall only receive credit for an uninterrupted period of
         service which immediately precedes the date specified on Appendix A.
         For purposes of this definition, a year of employment shall be a 365
         day period (or 366 day period in the case of a leap year) that, for the
         first year of employment, commences on the Employee's date of hiring
         and that, for any subsequent year, commences on an anniversary of that
         hiring date. The Committee shall make a determination as to whether any
         partial year of employment shall be counted as a Year of Service.

                                    ARTICLE 2
                       SELECTION, ENROLLMENT, ELIGIBILITY

2.1      SELECTION BY COMMITTEE. Participation in the Plan shall be limited to a
         select group of management and highly compensated Employees of the
         Employer, as determined by the Committee in its sole discretion. From
         that group, the Committee shall select, in its sole discretion,
         Employees to participate in the Plan.

2.2      ENROLLMENT REQUIREMENTS. As a condition to participation, each selected
         Employee shall complete, execute and return to the Committee a Plan
         Agreement, an Election Form and a Beneficiary Designation Form, all
         within thirty (30) days after he or she is selected to participate in
         the Plan. In addition, the Committee shall establish from time to time
         such other enrollment requirements as it determines in its sole
         discretion are necessary.

2.3      ELIGIBILITY; COMMENCEMENT OF PARTICIPATION. Provided an Employee
         selected to participate in the Plan has met all enrollment requirements
         set forth in this Plan and required by the Committee, including
         returning all required documents to the Committee within the specified
         time period, that Employee shall commence participation in the Plan on
         the first day of the month following the month in which the Employee
         completes all enrollment requirements. If an Employee fails to meet all
         such requirements within the period required, in accordance with
         Section 2.2, that Employee shall not be eligible to participate in the
         Plan until the first day of the Plan Year following the delivery to and
         acceptance by the Committee of the required documents.

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2.4      TERMINATION OF PARTICIPATION AND/OR DEFERRALS. If the Committee
         determines in good faith that a Participant no longer qualifies as a
         member of a select group of management or highly compensated employees,
         as membership in such group is determined in accordance with Sections
         201(2), 301(a)(3) and 401(a)(1) of ERISA, the Committee shall have the
         right, in its sole discretion, to (i) terminate any deferral election
         the Participant has made for the remainder of the Plan Year in which
         the Participant's membership status changes, (ii) prevent the
         Participant from making future deferral elections and/or (iii)
         immediately distribute the Participant's then vested Account Balance as
         a Termination Benefit and terminate the Participant's participation in
         the Plan.

                                    ARTICLE 3
DEFERRAL COMMITMENTS/COMPANY CONTRIBUTION AMOUNTS/SUPPLEMENTAL MATCHING AMOUNTS/
          401(K) RESTORATION MATCHING AMOUNTS/VESTING/CREDITING/TAXES

3.1      MINIMUM DEFERRALS.

         (a)      BASE ANNUAL SALARY, ANNUAL BONUS, COMMISSIONS, ANNUAL
                  QUALIFIED PLAN MAKE-UP AMOUNTS AND SPECIAL INCENTIVE PLAN
                  AMOUNTS. As determined by the Committee on an annual basis, a
                  Participant may elect to defer, as his or her Annual Deferral
                  Amount, either a percentage or a fixed dollar amount of his or
                  her Base Annual Salary, Annual Bonus, Commissions, Annual
                  Qualified Plan Make-Up Amounts and/or Special Incentive Plan
                  Amounts. If a Participant designates a fixed dollar amount to
                  be withheld from the payment of Base Annual Salary, Annual
                  Bonus, Commissions, Annual Qualified Plan Make-Up Amounts
                  and/or Special Incentive Plan Amounts and such fixed dollar
                  amount exceeds the amount actually payable to the Participant,
                  the entire amount of such Base Annual Salary, Annual Bonus,
                  Commissions, Annual Qualified Plan Make-Up Amounts and/or
                  Special Incentive Plan Amounts, as applicable, shall be
                  withheld. If no election is made, the amount deferred shall be
                  zero.

         (b)      ANNUAL 401(K) REFUND AMOUNT. For each Plan Year, a Participant
                  may elect to defer his or her Annual 401(k) Refund Amount. If
                  a Participant elects to defer his or her Annual 401(k) Refund
                  Amount, the minimum deferral amount shall be 100%. If no
                  election is made, the amount deferred shall be zero.

3.2      MAXIMUM DEFERRAL.

(a)      BASE ANNUAL SALARY, ANNUAL BONUS, COMMISSIONS, SPECIAL INCENTIVE PLAN
         AMOUNTS, ANNUAL QUALIFIED PLAN MAKE-UP AMOUNTS AND ANNUAL 401(K) REFUND
         AMOUNTS. For each Plan Year, a Participant may elect to defer, as his
         or her Annual Deferral Amount, Base Annual Salary, Annual Bonus,
         Commissions, Special Incentive Plan Amounts, Annual Qualified Plan
         Make-Up Amounts and/or Annual 401(k) Refund Amounts up to the following
         maximum percentages for each deferral elected:

              DEFERRAL                    MAXIMUM AMOUNT

          Base Annual Salary                     90%

          Annual Bonus                           90%

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            Commissions                          90%

     Special Incentive Plan                      90%
     Amounts

     Annual Qualified Plan                       90%
     Make-Up Amounts

     Annual 401(k) Refund                       100%
     Amount

         (b)      SHORT PLAN YEAR. Notwithstanding the foregoing, if a
                  Participant first becomes a Participant after the first day of
                  a Plan Year, the maximum Annual Deferral Amount (i) with
                  respect to Base Annual Salary shall be limited to the amount
                  of compensation not yet earned by the Participant as of the
                  date the Participant submits a Plan Agreement and Election
                  Form to the Committee for acceptance, and (ii) with respect to
                  Annual Bonus, Commissions, Annual Qualified Plan Make-Up
                  Amounts and Special Incentive Plan Amounts shall be limited to
                  those amounts deemed eligible for deferral, in the sole
                  discretion of the Committee.

3.3      ELECTION TO DEFER; EFFECT OF ELECTION FORM.

         (a)      FIRST PLAN YEAR. In connection with a Participant's
                  commencement of participation in the Plan, the Participant
                  shall make an irrevocable deferral election for the Plan Year
                  in which the Participant commences participation in the Plan,
                  along with such other elections as the Committee deems
                  necessary or desirable under the Plan. For these elections to
                  be valid, the Election Form must be completed and signed by
                  the Participant, timely delivered to the Committee (in
                  accordance with Section 2.2 above) and accepted by the
                  Committee.

         (b)      SUBSEQUENT PLAN YEARS. For each succeeding Plan Year, an
                  irrevocable deferral election for that Plan Year, and such
                  other elections as the Committee deems necessary or desirable
                  under the Plan, shall be made by timely delivering a new
                  Election Form to the Committee, in accordance with its rules
                  and procedures, before the end of the Plan Year preceding the
                  Plan Year for which the election is made. If no such Election
                  Form is timely delivered for a Plan Year, the Annual Deferral
                  Amount shall be zero for that Plan Year. However, if the
                  Committee, in its sole discretion, determines that, as a
                  result of material changes to the terms and provisions of the
                  Plan, an additional enrollment period is necessary for the
                  particular Plan Year in which such changes occur, the
                  Committee may provide Participants with an additional Election
                  Form. If a Participant fails to submit an Election Form during
                  the additional enrollment period, the Participant's original
                  elections with respect to such Plan Year, if any, shall remain
                  in effect.

3.4      WITHHOLDING AND CREDITING OF ANNUAL DEFERRAL AMOUNTS. For each Plan
         Year, the Base Annual Salary portion of the Annual Deferral Amount
         shall be withheld from each regularly scheduled Base Annual Salary
         payroll in equal amounts, as adjusted from time to time for increases
         and decreases in Base Annual Salary. The Annual Bonus, Commissions,
         Annual Qualified Plan Make-Up Amounts and/or Special Incentive Plan
         Amounts portion of the Annual Deferral Amount shall be withheld at the
         time the Annual Bonus, Commissions, Annual Qualified Plan Make-Up
         Amounts or Special Incentive Plan Amounts are or otherwise would be

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         paid to the Participant, whether or not this occurs during the Plan
         Year itself. The Participant's Annual 401(k) Refund Amount, if any,
         shall be deferred from Base Annual Salary or Commissions in the payroll
         period in which the Participant receives a forced refund of his or her
         prior year 401(k) deferrals. Annual Deferral Amounts shall be credited
         to a Participant's Deferral Account at the time such amounts would
         otherwise have been paid to the Participant.

3.5      ROLLOVER AMOUNT. With respect to Participants who participated in the
         Predecessor Plan, an amount equal to their "account" as set forth in
         such Predecessor Plan, valued as of the effective date of this Plan,
         shall be the Rollover Amount. The Rollover Amount shall be comprised of
         elective deferrals, company matching contributions and qualified plan
         matching contributions accumulated pursuant to Sections 4.2 and 4.3 of
         the Predecessor Plan. The portion of a Participant's Rollover Amount
         that is attributable to elective deferrals (i) shall be credited to the
         Participant's Deferral Account on the effective date of this Plan, and
         (ii) shall be subject to the terms and conditions of this Plan. The
         portion of a Participant's Rollover Amount that is attributable to
         company matching contributions (i) shall be credited to the
         Participant's Supplemental Matching Account on the effective date of
         this Plan, and (ii) shall be subject to the terms and conditions of
         this Plan. The portion of a Participant's Rollover Amount that is
         attributable to qualified plan matching contributions (i) shall be
         credited to the Participant's 401(k) Restoration Matching Account on
         the effective date of this Plan, and (ii) shall be subject to the terms
         and conditions of this Plan. Any Participant with a Rollover Amount
         shall have no right to demand distribution of such amounts other than
         as specifically provided for herein; provided, however, that any
         "in-service distribution" elections made by the Participant under the
         Predecessor Plan shall apply to the Rollover Amount under this Plan.

3.6      COMPANY CONTRIBUTION AMOUNT.

         (a)      For each Plan Year, an Employer may be required to credit
                  amounts to a Participant's Company Contribution Account in
                  accordance with employment or other agreements entered into
                  between the Participant and the Employer. Such amounts shall
                  be credited on the date or dates prescribed by such
                  agreements.

         (b)      For each Plan Year, an Employer, in its sole discretion, may,
                  but is not required to, credit any amount it desires to any
                  Participant's Company Contribution Account under this Plan,
                  which amount shall be for that Participant the Company
                  Contribution Amount for that Plan Year. The amount so credited
                  to a Participant may be smaller or larger than the amount
                  credited to any other Participant, and the amount credited to
                  any Participant for a Plan Year may be zero, even though one
                  or more other Participants receive a Company Contribution
                  Amount for that Plan Year. The Company Contribution Amount
                  described in this Section 3.6(b), if any, shall be credited on
                  a date or dates to be determined by the Committee, in its sole
                  discretion.

3.7      ANNUAL 401(K) RESTORATION MATCHING AMOUNT.  A Participant's Annual
         401(k) Restoration Matching Amount for any Plan Year shall be equal to
         (i) the "match" provided in the 401(k) Plan that the Company would have
         credited to the Participant on the amount of Base Annual Salary, Annual
         Bonus, Commissions and Special Incentive Plan Amounts deferred into
         this Plan for such Plan Year had such Base Annual Salary, Annual Bonus
         and Commissions been contributed to the 401(k) Plan, to the extent
         allowable under the limitations applicable to the 401(k) Plan, reduced
         by (ii) the amount of the "match" the Company makes to the Participant

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         during such Plan Year under the 401(k) Plan. The amount so credited to
         a Participant under this Plan shall be for that Participant the Annual
         401(k) Restoration Matching Amount for that Plan Year and shall be
         credited to the Participant's 401(k) Restoration Matching Account on a
         date or dates to be determined by the Committee, in its sole
         discretion, which date or dates may occur subsequent to the Plan Year
         to which the amount relates. A Participant shall only be eligible for
         such Annual 401(k) Restoration Matching Amount if he or she is employed
         by an Employer on the date or dates on which the Committee credits such
         amount to the Participant's 401(k) Restoration Matching Account in
         accordance with the previous sentence. Notwithstanding the foregoing, a
         Participant who Retires, dies while employed by an Employer, or becomes
         Disabled prior to such crediting date or dates shall be eligible for
         such Annual 401(k) Restoration Matching Amount, and such amount shall
         be credited to the Participant's 401(k) Restoration Matching Account on
         a date or dates determined by the Committee in its sole discretion.

3.8      ANNUAL SUPPLEMENTAL MATCHING AMOUNT. If a Participant has completed at
         least twelve (12) Months of Service as of the first day of the Plan
         Year, the Company shall credit such Participant's Supplemental Matching
         Account with an amount equal to two percent (2%) of the Participant's
         Annual Deferral Amount up to $2,000 per Plan Year. The amount so
         credited to a Participant under this Plan shall be for that Participant
         the Annual Supplemental Matching Amount for that Plan Year and shall be
         credited to the Participant's Supplemental Matching Account on a date
         or dates to be determined by the Committee, in its sole discretion,
         which date or dates may occur subsequent to the Plan Year to which the
         amount relates. A Participant shall only be eligible for such Annual
         Supplemental Matching Amount if he or she is employed by an Employer on
         the date or dates on which the Committee credits such amount to the
         Participant's Supplemental Matching Account in accordance with the
         previous sentence. Notwithstanding the foregoing, a Participant who
         Retires, dies while employed by an Employer, or becomes Disabled prior
         to such crediting date or dates shall be eligible for such Annual
         Supplemental Matching Amount, and such amount shall be credited to the
         Participant's Supplemental Matching Account on a date or dates
         determined by the Committee in its sole discretion.

3.9      VESTING.

         (a)      A Participant shall at all times be 100% vested in his or her
                  Deferral Account.

         (b)      A Participant shall be vested in his or her Company
                  Contribution Account in accordance with the vesting
                  schedule(s) set forth in his or her Plan Agreement, employment
                  agreement or any other agreement entered into between the
                  Participant and his or her Employer. If not addressed in such
                  agreements, a Participant shall vest in his or her Company
                  Contribution Account in accordance with the vesting provisions
                  of the 401(k) Plan, as determined by the Committee in its sole
                  discretion.

         (c)      A Participant shall be 100% vested in that portion of his or
                  her 401(k) Restoration Matching Account that is attributable
                  to qualified plan matching contributions accumulated under the
                  Predecessor Plan. A Participant shall vest in the Annual
                  401(k) Restoration Matching Amounts credited to his or her
                  401(k) Restoration Matching Account pursuant to this Plan in
                  accordance with the vesting provisions of the 401(k) Plan, as
                  determined by the Committee in its sole discretion.

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         (d)      A Participant shall be vested in his or her Supplemental
                  Matching Account only to the extent that the Participant would
                  be vested in such amounts under the provisions of the
                  Predecessor Plan, as determined by the Committee in its sole
                  discretion, and shall continue to vest 33 1/3 % per Year of
                  Service.

         (e)      Notwithstanding anything to the contrary contained in this
                  Section 3.9, in the event of a Change in Control, or upon a
                  Participant's Retirement, death while employed by an Employer,
                  or Disability, a Participant's Company Contribution Account,
                  Supplemental Matching Account and 401(k) Restoration Matching
                  Account shall immediately become 100% vested (if not already
                  vested in accordance with the above vesting schedules).

         (f)      Notwithstanding subsection 3.9(e) above, the vesting schedule
                  for a Participant's Company Contribution Account, Supplemental
                  Matching Account and 401(k) Restoration Matching Account shall
                  not be accelerated to the extent that the Committee determines
                  that such acceleration would cause the deduction limitations
                  of Section 280G of the Code to become effective. In the event
                  that all of a Participant's Company Contribution Account,
                  Supplemental Matching Account and/or 401(k) Restoration
                  Matching Account is not vested pursuant to such a
                  determination, the Participant may request independent
                  verification of the Committee's calculations with respect to
                  the application of Section 280G. In such case, the Committee
                  must provide to the Participant within ninety (90) days of
                  such a request an opinion from a nationally recognized
                  accounting firm selected by the Participant (the "Accounting
                  Firm"). The opinion shall state the Accounting Firm's opinion
                  that any limitation in the vested percentage hereunder is
                  necessary to avoid the limits of Section 280G and contain
                  supporting calculations. The cost of such opinion shall be
                  paid for by the Company.

3.10     CREDITING/DEBITING OF ACCOUNT BALANCES. In accordance with, and subject
         to, the rules and procedures that are established from time to time by
         the Committee, in its sole discretion, amounts shall be credited or
         debited to a Participant's Account Balance in accordance with the
         following rules:

         (a)      MEASUREMENT FUNDS. Subject to the restrictions found in
                  Sections 3.10(d) and (e) below, the Participant may elect one
                  or more of the measurement funds selected by the Committee, in
                  its sole discretion, which are based on certain mutual funds
                  (the "Measurement Funds"), for the purpose of crediting or
                  debiting additional amounts to his or her Account Balance. As
                  necessary, the Committee may, in its sole discretion,
                  discontinue, substitute or add a Measurement Fund. Each such
                  action will take effect as of the first day of the first month
                  that begins at least thirty (30) days after the day on which
                  the Committee gives Participants advance written notice of
                  such change.

         (b)      ELECTION OF MEASUREMENT FUNDS. Subject to the restrictions
                  found in Sections 3.10(d) and (e) below, a Participant, in
                  connection with his or her initial deferral election in
                  accordance with Section 3.3(a) above, shall elect, on the
                  Election Form, one or more Measurement Fund(s) (as described
                  in Section 3.10(a) above) to be used to determine the amounts
                  to be credited or debited to his or her Account Balance. If a
                  Participant does not elect any of the Measurement Funds as
                  described in the previous sentence, the Participant's Account
                  Balance shall automatically be allocated into the lowest-risk
                  Measurement Fund, as determined by the Committee, in its sole
                  discretion. Subject to

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                  The restrictions found in Sections 3.10(d) and (e) below, the
                  Participant may (but is not required to) elect, by submitting
                  an Election Form to the Committee that is accepted by the
                  Committee, to add or delete one or more Measurement Fund(s) to
                  be used to determine the amounts to be credited or debited to
                  his or her Account Balance, or to change the portion of his or
                  her Account Balance allocated to each previously or newly
                  elected Measurement Fund. If an election is made in accordance
                  with the previous sentence, it shall apply as of the first
                  business day deemed reasonably practicable by the Committee,
                  in its sole discretion, and shall continue thereafter for each
                  subsequent day in which the Participant participates in the
                  Plan, unless changed in accordance with the previous sentence;
                  provided, however, an election allocating amounts to and/or
                  from the Private Equity Measurement Fund, Hedge Fund
                  Measurement Fund or other special Measurement Fund shall be
                  subject to the additional restrictions described below.

         (C)      CLARK, INC. STOCK UNIT FUND MEASUREMENT FUND.

                  (i)      Subject to the restrictions found in Sections 3.10(d)
                           and (e), a Participant may allocate or re-allocate
                           any portion of his or her Account Balance to the
                           Clark, Inc. Stock Unit Fund. Participants may
                           re-allocate any portion of their Account Balance from
                           the Clark, Inc. Stock Unit Fund to any other
                           Measurement Fund, at any time. Notwithstanding the
                           preceding sentence, the Committee may postpone any
                           transfer that would otherwise be made in a period in
                           which the Participant would be prohibited (by Company
                           policy or otherwise) from acquiring or disposing of
                           equity securities of the Company until after such
                           period has expired.

                  (ii)     For each Plan Year in which a dividend is declared
                           and paid on Stock, an Employer shall automatically
                           credit such Participant's Account Balance with any
                           stock dividends, cash dividends or other non-cash
                           dividends that would have been payable on that
                           portion of the Participant's Account Balance which is
                           allocated to the Clark, Inc. Stock Unit Fund. The
                           amount so credited to a Participant pursuant to this
                           Section 3.10(c) (i) shall automatically be deemed to
                           be invested in the Clark, Inc. Stock unit fund
                           measurement fund, and (ii) shall be credited to the
                           Participant's Account Balance on a date or dates to
                           be determined by the Committee, in its sole
                           discretion. The amount credited to the Participant
                           for a particular stock dividend shall be equal to (a)
                           the number of shares of Stock held by a Participant
                           within his or her Account Balance as of the payment
                           date for such dividend in respect of each share of
                           Stock, multiplied by (b) the number of additional
                           shares of Stock actually paid as a dividend in
                           respect of each share of Stock. The amount credited
                           to the Participant for a particular cash dividend or
                           other non-cash dividend shall be equal to the fair
                           market value of the dividend.

                  (iii)    The value of a Participant's Account Balance that has
                           been allocated to the Clark, Inc. Stock Unit Fund may
                           be adjusted by the Committee, in its sole discretion,
                           to prevent dilution or enlargement of a Participant's
                           rights in the event of any reorganization,
                           reclassification, stock split, or other unusual
                           corporate transaction or event which affects the
                           value of the Stock.

                  (iv)     For purposes of this Section 3.10(c) the fair market
                           value of the Stock shall be determined by the
                           Committee in its sole discretion.

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         (d)      PRIVATE EQUITY FUND MEASUREMENT FUND. Prior to each Plan Year
                  (or Plan quarter), the Committee shall, in its sole
                  discretion, determine whether it (i) will allow allocations to
                  and/or from the Private Equity Fund Measurement Fund, (ii)
                  will require allocations to and/or from the Private Equity
                  Fund Measurement Fund only upon advance written notification
                  of a Participant's intended allocation in accordance with the
                  deadlines established by the Committee, and (iii) will impose
                  limits on the portion of a Participant's Account Balance that
                  may be invested in the Private Equity Fund Measurement Fund,
                  at any given time. In the event that the Committee imposes a
                  limit on the portion of a Participant's Account Balance that
                  may be invested in the Private Equity Fund Measurement Fund,
                  the Committee may request that a Participant reallocate his or
                  her Account Balance among the other Measurement Funds;
                  provided, however, if a Participant fails or refuses to
                  re-allocate his or her Account Balance in accordance with the
                  Committee's request, the Committee may re-allocate that
                  portion of the Participant's Account Balance which is in
                  excess of the limits imposed on the Private Equity Fund
                  Measurement Fund, on a pro-rata basis, among the Measurement
                  Funds in which the Participant's Account Balance is invested.
                  In the event of a Participant's Retirement or Termination of
                  Employment, the distribution of any portion of a Participant's
                  Account Balance allocated to the Private Equity Fund
                  Measurement Fund may be delayed and/or adjusted as more fully
                  described in this Plan. The portion of the Participant's
                  Account Balance allocated to the Private Equity Fund
                  Measurement Fund shall be credited or debited on a quarterly
                  basis based on the performance of the Private Equity Fund
                  Measurement Fund, such performance being determined by the
                  Committee in its sole discretion.

         (e)      HEDGE FUND MEASUREMENT FUND OR OTHER SPECIAL MEASUREMENT FUND.
                  If the Committee, in its sole discretion, adds a Hedge Fund
                  Measurement Fund or other special Measurement Fund to this
                  Plan, the provisions this Section 3.10(e) shall apply. Prior
                  to each Plan Year (or Plan quarter), the Committee shall, in
                  its sole discretion, determine whether it (i) will allow
                  allocations to and/or from the Hedge Fund Measurement Fund or
                  other special Measurement Fund, (ii) will require allocations
                  to and/or from the Hedge Fund Measurement Fund or other
                  special Measurement Fund only upon advance written
                  notification of a Participant's intended allocation in
                  accordance with the deadlines established by the Committee,
                  and (iii) will impose limits on the portion of a Participant's
                  Account Balance that may be invested in the Hedge Fund
                  Measurement Fund or other special Measurement Fund, at any
                  given time. In the event that the Committee imposes a limit on
                  the portion of a Participant's Account Balance that may be
                  invested in the Hedge Fund Measurement Fund or other special
                  Measurement Fund, the Committee may request that a Participant
                  re-allocate his or her Account Balance among the other
                  Measurement Funds; provided, however, if a Participant fails
                  or refuses to reallocate his or her Account Balance in
                  accordance with the Committee's request, the Committee may
                  re-allocate that portion of the Participant's Account Balance
                  which is in excess of the limits imposed on the Hedge Fund
                  Measurement Fund or other special Measurement Fund, on a
                  pro-rata basis, among the Measurement Funds in which the
                  Participant's Account Balance is invested. In the event of a
                  Participant's Retirement or Termination of Employment, the
                  distribution of any portion of a Participant's Account Balance
                  allocated to the Hedge Fund Measurement Fund or other special
                  Measurement

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                  Fund may be delayed and/or adjusted as more fully described in
                  this Plan. The portion of the Participant's Account Balance
                  allocated to the Hedge Fund Measurement Fund shall be credited
                  or debited on a periodic basis based on the performance of the
                  Hedge Fund Measurement Fund, such performance being determined
                  by the Committee in its sole discretion.

         (f)      PROPORTIONATE ALLOCATION. In making any election described in
                  Section 3.10(b) above, the Participant shall specify on the
                  Election Form, in increments of one percent (1%), the
                  percentage of his or her Account Balance to be allocated to a
                  Measurement Fund (as if the Participant was making an
                  investment in that Measurement Fund with that portion of his
                  or her Account Balance).

         (g)      MEASUREMENT FUND PERFORMANCE. The performance of each elected
                  Measurement Fund (either positive or negative) will be
                  determined by the Committee, in its sole discretion, based on
                  the performance of the Measurement Funds themselves. A
                  Participant's Account Balance, excluding the portion of the
                  Account Balance allocated to the Private Equity Fund
                  Measurement Fund, the Hedge Fund Measurement Fund or other
                  special Measurement Fund, shall be adjusted on a daily basis
                  based on the performance of each Measurement Fund selected by
                  the Participant, such performance being determined by the
                  Committee in its sole discretion.

         (h)      NO ACTUAL INVESTMENT. Notwithstanding any other provision of
                  this Plan that may be interpreted to the contrary, the
                  Measurement Funds are to be used for measurement purposes
                  only, and a Participant's election of any such Measurement
                  Fund, the allocation to his or her Account Balance thereto,
                  the calculation of additional amounts and the crediting or
                  debiting of such amounts to a Participant's Account Balance
                  shall not be considered or construed in any manner as an
                  actual investment of his or her Account Balance in any such
                  Measurement Fund. In the event that the Company or the Trustee
                  (as that term is defined in the Trust), in its own discretion,
                  decides to invest funds in any or all of the investments on
                  which the Measurement Funds are based, no Participant shall
                  have any rights in or to such investments themselves. Without
                  limiting the foregoing, a Participant's Account Balance shall
                  at all times be a bookkeeping entry only and shall not
                  represent any investment made on his or her behalf by the
                  Company or the Trust; the Participant shall at all times
                  remain an unsecured creditor of the Company.

3.11     FICA AND OTHER TAXES.

         (a)      ANNUAL DEFERRAL AMOUNTS. for Each Plan Year in Which an Annual
                  Deferral amount is being withheld from a Participant, the
                  Participant's Employer(s) shall withhold from that portion of
                  the Participant's Base Annual Salary, Annual Bonus,
                  Commissions, Annual Qualified Plan Make-up Amounts and/or
                  Special Incentive Plan Amounts that are not being deferred, in
                  a manner determined by the Employer(s), the Participant's
                  share of FICA and other employment taxes on such Annual
                  Deferral Amount. If necessary, the Committee may reduce the
                  Annual Deferral Amount in order to comply with this Section
                  3.11.

         (b)      COMPANY CONTRIBUTION ACCOUNT, 401(K) RESTORATION MATCHING
                  ACCOUNT AND SUPPLEMENTAL MATCHING ACCOUNT. When a participant
                  becomes vested in a portion of

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                  his or her Company Contribution Account, 401(k) Restoration
                  Matching Account or Supplemental Matching Account, the
                  Participant's Employer(s) shall withhold from the
                  Participant's Base Annual Salary, Annual Bonus, Commissions,
                  Annual Qualified Plan Make-Up Amounts and/or Special Incentive
                  Plan Amounts that are not deferred, in a manner determined by
                  the Employer(s), the Participant's share of FICA and other
                  employment taxes. If necessary, the Committee may reduce the
                  vested portion of the Participant's Company Contribution
                  Account, 401(k) Restoration Matching Account or Supplemental
                  Matching Account, as applicable, in order to comply with this
                  Section 3.11.

         (c)      DISTRIBUTIONS. The Participant's Employer(s), or the trustee
                  of the Trust, shall withhold from any payments made to a
                  Participant under this Plan all federal, state and local
                  income, employment and other taxes required to be withheld by
                  the Employer(s), or the trustee of the Trust, in connection
                  with such payments, in amounts and in a manner to be
                  determined in the sole discretion of the Employer(s) and the
                  trustee of the Trust.

                                    ARTICLE 4
                              DEDUCTION LIMITATION

4.1      DEDUCTION LIMITATION ON BENEFIT PAYMENTS. If an Employer determines in
         good faith prior to a Change in Control that there is a reasonable
         likelihood that any compensation paid to a Participant for a taxable
         year of the Employer would not be deductible by the Employer solely by
         reason of the limitation under Code Section 162(m), then to the extent
         deemed necessary by the Employer to ensure that the entire amount of
         any distribution to the Participant pursuant to this Plan prior to the
         Change in Control is deductible, the Employer may defer all or any
         portion of a distribution under this Plan. Any amounts deferred
         pursuant to this limitation shall continue to be credited/debited with
         additional amounts in accordance with Section 3.10 below, even if such
         amount is being paid out in installments. The amounts so deferred and
         amounts credited thereon shall be distributed to the Participant or his
         or her Beneficiary (in the event of the Participant's death) at the
         earliest possible date, as determined by the Employer in good faith, on
         which the deductibility of compensation paid or payable to the
         Participant for the taxable year of the Employer during which the
         distribution is made will not be limited by Section 162(m), or if
         earlier, the effective date of a Change in Control. Notwithstanding
         anything to the contrary in this Plan, the Deduction Limitation shall
         not apply to any distributions made after a Change in Control.

                                    ARTICLE 5
            SHORT-TERM PAYOUT; UNFORESEEABLE FINANCIAL EMERGENCIES;
                              WITHDRAWAL ELECTION

5.1      SHORT-TERM PAYOUT. Prior to each Plan Year, a Participant may
         irrevocably elect to receive a future "Short-Term Payout" from the Plan
         with respect to all or a portion of (i) the Annual Deferral Amount,
         (ii) the Company Contribution Amount, (iii) the Annual Supplemental
         Matching Amount, and (iv) the Annual 401(k) Restoration Matching
         Amount. The Short-Term Payout shall be a lump sum payment in an amount
         that is equal to the portion of the Annual

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         Deferral Amount, the vested portion of the Company Contribution Amount,
         the vested portion of the Annual Supplemental Matching Amount and the
         vested portion of the Annual 401(k) Restoration Matching Amount that
         the Participant elected to have distributed as a Short-Term Payout,
         plus amounts credited or debited in the manner provided in Section 3.10
         above on that amount, calculated as of the close of business on or
         around the date on which that the Short-Term Payout becomes payable, as
         determined by the Committee in its sole discretion. Subject to the
         other terms and conditions of this Plan, each Short-Term Payout elected
         shall be paid out during a sixty (60) day period commencing immediately
         after the first day of any Plan Year designated by the Participant. The
         Plan Year designated by the Participant must be at least three Plan
         Years after the end of the Plan Year to which the Participant's
         deferral election described in Section 3.3 relates. By way of example,
         if a three year Short-Term Payout is elected for Annual Deferral
         Amounts, Company Contribution Amounts, Annual Supplemental Matching
         Amounts, and Annual 401(k) Restoration Matching Amounts that are
         related to the Participant's deferral elections for the Plan Year
         commencing January 1, 2004, the three year Short-Term Payout would
         become payable during a sixty (60) day period commencing January 1,
         2008. Notwithstanding the language set forth above, the Committee
         shall, in its sole discretion, adjust the amount distributable as a
         Short-Term Payout if (i) any portion of the Company Contribution
         Amount, Annual Supplemental Matching Amount or the Annual 401(k)
         Restoration Matching Amount is unvested on the Short-Term Payout Date,
         or (ii) any portion of the Participant's Annual Deferral Amount,
         Company Contribution Amount, Annual Supplemental Matching Amount or
         Annual 401(k) Restoration Matching Amount is allocated to the Private
         Equity Fund Measurement Fund, the Hedge Fund Measurement Fund or other
         special Measurement Fund.

         In addition, subject to the terms and conditions of this Section 5.1,
         Section 5.2 and all other provisions of this Plan, any similar
         elections made pursuant to the terms of the Predecessor Plan, shall be
         deemed to remain in effect under this Plan. The distribution date
         selected by a Participant in connection with such election(s) under the
         Predecessor Plan shall remain binding on the parties. The Committee
         shall, in its discretion, determine how any amounts deferred under the
         Predecessor Plan shall be treated pursuant to the language of Article 5
         and the Plan.

5.2      OTHER BENEFITS TAKE PRECEDENCE OVER SHORT-TERM. Should an event occur
         that triggers a benefit under Article 6, 7, 8, 9 or 10, any Annual
         Deferral Amount, Company Contribution Amount, Annual Supplemental
         Matching Amount, and Annual 401(k) Restoration Matching Amount, plus
         amounts credited or debited thereon, that is subject to a Short-Term
         Payout election under Section 5.1 shall not be paid in accordance with
         Section 5.1 but shall be paid in accordance with the other applicable
         Article.

5.3      WITHDRAWAL PAYOUT/SUSPENSIONS FOR UNFORESEEABLE FINANCIAL EMERGENCIES.
         If the Participant experiences an Unforeseeable Financial Emergency,
         the Participant may petition the Committee (i) to suspend any deferrals
         required to be made by such Participant or (ii) to suspend any
         deferrals required to be made by such Participant and receive a partial
         or full payout from the Plan. The payout shall not exceed the lesser of
         (i) the Participant's vested Account Balance, calculated as if such
         Participant were receiving a Termination Benefit and shall exclude any
         portion of the Account Balance allocated to the Private Equity Fund
         Measurement Fund, the Hedge Fund Measurement Fund or other special
         Measurement Fund, or (ii) the amount reasonably needed to satisfy the
         Unforeseeable Financial Emergency. A Participant may not

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         receive a payout from the Plan to the extent that the Unforeseeable
         Financial Emergency is or may be relieved (i) through reimbursement or
         compensation by insurance or otherwise, (ii) by liquidation of the
         Participant's assets, to the extent the liquidation of such assets
         would not itself cause severe financial hardship or (iii) by suspension
         of deferrals under this Plan. If the Committee, in its sole discretion,
         approves a Participant's petition for suspension, the Participant's
         deferrals under this Plan shall be suspended as of the date of such
         approval. If the Committee, in its sole discretion, approves a
         Participant's petition for suspension and payout, the Participant's
         deferrals under this Plan shall be suspended as of the date of such
         approval and the Participant shall receive a payout from the Plan
         within sixty (60) days of the date of such approval.

5.4      WITHDRAWAL ELECTION. A Participant may elect, at any time, to withdraw
         all or a portion of his or her vested Account Balance excluding the
         portion of the Account Balance allocated to the Private Equity Fund
         Measurement Fund, the Hedge Fund Measurement Fund or other special
         Measurement Fund. For purposes of this Section 5.4, the value of a
         Participant's vested Account Balance shall be calculated as of the
         close of business on or around the date on which receipt of the
         Participant's election is acknowledged by the Committee, as determined
         by the Committee in its sole discretion, less a withdrawal penalty
         equal to 10% of the amount withdrawn (the net amount shall be referred
         to as the "Withdrawal Amount"). This election can be made at any time,
         before or after Retirement or Disability, and whether or not the
         Participant is in the process of being paid pursuant to an installment
         payment schedule. The Participant shall make this election by giving
         the Committee advance written notice of the election in a form
         determined from time to time by the Committee. The Participant shall be
         paid the Withdrawal Amount within sixty (60) days of his or her
         election. Once the Withdrawal Amount is paid, the Participant's
         participation in the Plan shall be suspended for the remainder of the
         Plan Year in which the withdrawal is elected and for one (1) full Plan
         Year thereafter.

                                    ARTICLE 6
                            CHANGE IN CONTROL BENEFIT

6.1      CHANGE IN CONTROL BENEFIT. Upon a Change in Control, a Participant
         shall receive a Change in Control Benefit equal to his or her vested
         Account Balance, calculated as of the close of business on or around
         the date selected by the Committee in its sole discretion. The Change
         in Control Benefit shall be paid to the Participant in a lump sum no
         later than 120 days after a Change in Control.

                                    ARTICLE 7
                               RETIREMENT BENEFIT

7.1      RETIREMENT BENEFIT. A Participant who Retires shall receive, as a
         Retirement Benefit, his or her vested Account Balance, calculated as of
         the close of business on or around the date on which the Participant
         Retires, as determined by the Committee in its sole discretion.

7.2      PAYMENT OF RETIREMENT BENEFIT. A Participant, in connection with his or
         her commencement of participation in the Plan, shall elect on an
         Election Form to receive the Retirement Benefit in a lump sum or
         pursuant to an Annual Installment Method of up to 15 years. The
         Participant may

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         change his or her election to an allowable alternative payout period by
         submitting a new Election Form to the Committee, provided that any such
         Election Form is submitted to and accepted by the Committee in its sole
         discretion at least thirteen (13) months prior to the Participant's
         Retirement. The Election Form most recently accepted by the Committee
         shall govern the payout of the Retirement Benefit. If a Participant
         does not make any election with respect to the payment of the
         Retirement Benefit, then such benefit shall be payable in a lump sum.
         The lump sum payment shall be made, or installment payments shall
         commence, no later than sixty (60) days after the date on which the
         Participant Retires. Remaining installments, if any, shall be paid no
         later than sixty (60) days after each anniversary of the date on which
         the Participant Retires. Notwithstanding any lump sum distribution
         election made by the Participant, the Committee may delay distribution
         of that portion of the Participant's Account Balance which has been
         allocated to the Private Equity Fund Measurement Fund, Hedge Fund
         Measurement Fund or other special Measurement Fund for any period of
         time that the Committee, in its sole discretion, deems appropriate. In
         addition, if any portion of the Participant's Account Balance has been
         allocated to the Private Equity Fund Measurement Fund, Hedge Fund
         Measurement Fund or other special Measurement Fund and such Participant
         has elected to receive his or her Retirement Benefit pursuant to an
         Annual Installment Method, the Committee shall have the discretion to
         delay distribution or adjust the amount of the annual installments, as
         more fully described in Section 1.6.

                                    ARTICLE 8
                               TERMINATION BENEFIT

8.1      TERMINATION BENEFIT. A Participant who experiences a Termination of
         Employment shall receive a Termination Benefit, which shall be equal to
         the Participant's vested Account Balance, calculated as of the close of
         business on or around the date on which the Participant experiences a
         Termination of Employment, as determined by the Committee in its sole
         discretion.

8.2      PAYMENT OF TERMINATION BENEFIT. The Termination Benefit shall be paid
         to the Participant in a lump sum payment no later than sixty (60) days
         after the date on which the Participant experiences the Termination of
         Employment; provided, however, the Committee may delay distribution of
         that portion of the Participant's Account Balance which has been
         allocated to the Private Equity Fund Measurement Fund, Hedge Fund
         Measurement Fund or other special Measurement Fund for any period of
         time that the Committee, in its sole discretion, deems appropriate.

                                    ARTICLE 9
                         DISABILITY WAIVER AND BENEFIT

9.1      DISABILITY WAIVER.

         (a)      WAIVER OF DEFERRAL. A Participant who is determined to be
                  suffering from a Disability shall be excused from fulfilling
                  that portion of the Annual Deferral Amount commitment that
                  would otherwise have been withheld from a Participant's Base
                  Annual Salary,

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                  Annual Bonus, Commissions, Annual Qualified Plan Make-Up
                  Amounts and/or Special Incentive Plan Amounts for the Plan
                  Year during which the Participant first suffers a Disability.
                  During the period of Disability, the Participant shall not be
                  allowed to make any additional deferral elections, but will
                  continue to be considered a Participant for all other purposes
                  of this Plan.

         (b)      DEFERRAL FOLLOWING DISABILITY. If a Participant returns to
                  employment with an Employer after a Disability ceases, the
                  Participant may elect to defer an Annual Deferral Amount for
                  the Plan Year following his or her return to employment and
                  for every Plan Year thereafter while a Participant in the
                  Plan; provided such deferral elections are otherwise allowed
                  and an Election Form is delivered to and accepted by the
                  Committee for each such election in accordance with Section
                  3.3 above.

9.2      CONTINUED ELIGIBILITY; DISABILITY BENEFIT. A Participant suffering a
         Disability shall, for benefit purposes under this Plan, continue to be
         considered to be employed, and shall be eligible for the benefits
         provided for in Articles 5, 6, 7, 8 or 10 in accordance with the
         provisions of those Articles. Notwithstanding the above, the Committee
         shall have the right to, in its sole and absolute discretion and for
         purposes of this Plan only, deem the Participant to have experienced a
         Termination of Employment or to have Retired, at any time after such
         Participant is determined to be suffering a Disability.

         If the Committee elects to exercise such right and deems the Disabled
         Participant to have experienced a Termination of Employment, the
         Participant shall receive a Disability Benefit equal to his or her
         vested Account Balance, calculated as of the close of business on or
         around the date on which the Participant is deemed to have experienced
         a Termination of Employment, as determined by the Committee in its sole
         discretion. The Disability Benefit shall be paid to such Participant in
         a lump sum payment no later than sixty (60) days after the date on
         which the Committee deems the Participant to have experienced a
         Termination of Employment. Regardless of the manner in which the
         Participant has allocated his or her Account Balance, the Committee
         shall have no ability to delay the distribution of any portion of a
         Disabled Participant's vested Account Balance.

         In the case of a Disabled Participant who is otherwise eligible to
         Retire, if the Committee elects to exercise such right, the Committee
         must deem the Participant to have Retired. If the Committee elects to
         exercise such right and deems the Participant to have Retired, the
         Participant shall receive a Disability Benefit equal to his or her
         vested Account Balance, calculated as of the close of business on or
         around the date on which the Participant is deemed to have Retired, as
         determined by the Committee in its sole discretion. The Disability
         Benefit shall be paid to a Participant who is deemed to have Retired in
         the same form in which such Participant elected to receive his or her
         Retirement Benefit. The lump sum payment shall be made, or installment
         payments shall commence, no later than sixty (60) days after the date
         on which the Participant is deemed to have Retired. Remaining
         installments, if any, shall be paid no later than sixty (60) days after
         each anniversary of the date on which the Participant is deemed to have
         Retired. Regardless of the manner in which the Participant has
         allocated his or her Account Balance, the Committee shall have no
         ability either (i) to delay the distribution of any portion of a
         Disabled Participant's vested Account Balance or (ii) to adjust the
         amount of any annual installment payable to the Disabled Participant.

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                                   ARTICLE 10
                                SURVIVOR BENEFIT

10.1     SURVIVOR BENEFIT. The Participant's Beneficiary(ies) shall receive a
         Survivor Benefit upon the Participant's death which will be equal to
         (i) the Participant's vested Account Balance, calculated as of the
         close of business on or around the date of the Participant's death, as
         selected by the Committee in its sole discretion, if the Participant
         dies prior to his or her Retirement, Termination of Employment or
         Disability, or (ii) the Participant's unpaid Retirement Benefit or
         Disability Benefit, calculated as of the close of business on or around
         the date of the Participant's death, as selected by the Committee in
         its sole discretion, if the Participant dies before his or her
         Retirement Benefit is paid in full.

10.2     PAYMENT OF SURVIVOR BENEFIT. The Survivor Benefit shall be paid to the
         Participant's Beneficiary(ies) in a lump sum payment no later than
         sixty (60) days after the date on which the Committee is provided with
         proof that is satisfactory to the Committee of the Participant's death.

                                   ARTICLE 11
                             BENEFICIARY DESIGNATION

11.1     BENEFICIARY. Each Participant shall have the right, at any time, to
         designate his or her Beneficiary(ies) (both primary as well as
         contingent) to receive any benefits payable under the Plan to a
         beneficiary upon the death of a Participant. The Beneficiary designated
         under this Plan may be the same as or different from the Beneficiary
         designation under any other plan of an Employer in which the
         Participant participates.

11.2     BENEFICIARY DESIGNATION; CHANGE; SPOUSAL CONSENT. A Participant shall
         designate his or her Beneficiary by completing and signing the
         Beneficiary Designation Form, and returning it to the Committee or its
         designated agent. A Participant shall have the right to change a
         Beneficiary by completing, signing and otherwise complying with the
         terms of the Beneficiary Designation Form and the Committee's rules and
         procedures, as in effect from time to time. If the Participant names
         someone other than his or her spouse as a Beneficiary and if the
         Committee requires that a spousal consent be obtained with respect to
         such Participant, a spousal consent, in the form designated by the
         Committee, must be signed by that Participant's spouse and returned to
         the Committee. Upon the acceptance by the Committee of a new
         Beneficiary Designation Form, all Beneficiary designations previously
         filed shall be canceled. The Committee shall be entitled to rely on the
         last Beneficiary Designation Form filed by the Participant and accepted
         by the Committee prior to his or her death.

11.3     ACKNOWLEDGMENT. No designation or change in designation of a
         Beneficiary shall be effective until received and acknowledged in
         writing by the Committee or its designated agent.

11.4     NO BENEFICIARY DESIGNATION. If a Participant fails to designate a
         Beneficiary as provided in Sections 11.1, 11.2 and 11.3 above or, if
         all designated Beneficiaries predecease the Participant or die prior to
         complete distribution of the Participant's benefits, then the
         Participant's designated Beneficiary shall be deemed to be his or her
         surviving spouse. If the Participant has no surviving spouse, the
         benefits remaining under the Plan to be paid to a Beneficiary shall be
         payable to the executor or personal representative of the Participant's
         estate.

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11.5     DOUBT AS TO BENEFICIARY. If the committee has any doubt as to the
         proper Beneficiary to receive payments pursuant to this Plan, the
         Committee shall have the right, exercisable in its discretion, to cause
         the Participant's Employer to withhold such payments until this matter
         is resolved to the Committee's satisfaction.

11.6     DISCHARGE OF OBLIGATIONS. The payment of benefits under the Plan to a
         Beneficiary shall fully and completely discharge all Employers and the
         Committee from all further obligations under this Plan with respect to
         the Participant, and that Participant's Plan Agreement shall terminate
         upon such full payment of benefits.

                                   ARTICLE 12
                                LEAVE OF ABSENCE

12.1     PAID LEAVE OF ABSENCE. If a Participant is authorized by the
         Participant's Employer for any reason to take a paid leave of absence
         from the employment of the Employer, the Participant shall continue to
         be considered employed by the Employer and the Annual Deferral Amount
         shall continue to be withheld during such paid leave of absence in
         accordance with Section 3.3.

12.2     UNPAID LEAVE OF ABSENCE. If a Participant is authorized by the
         Participant's Employer for any reason to take an unpaid leave of
         absence from the employment of the Employer, the Participant shall
         continue to be considered employed by the Employer and the Participant
         shall be excused from making deferrals until the earlier of the date
         the leave of absence expires or the Participant returns to a paid
         employment status. Upon such expiration or return, deferrals shall
         resume for the remaining portion of the Plan Year in which the
         expiration or return occurs, based on the deferral election, if any,
         made for that Plan Year. If no election was made for that Plan Year, no
         deferral shall be withheld.

                                   ARTICLE 13
                     TERMINATION, AMENDMENT OR MODIFICATION

13.1     TERMINATION. Although each Employer anticipates that it will continue
         the Plan for an indefinite period of time, there is no guarantee that
         any Employer will continue the Plan or will not terminate the Plan at
         any time in the future. Accordingly, each Employer reserves the right
         to discontinue its sponsorship of the Plan and/or to terminate the Plan
         at any time with respect to any or all of its participating Employees.

13.2     AMENDMENT. Any employer may, at any time, amend or modify the Plan in
         whole or in part with respect to that Employer by the action of its
         board of directors; provided, however, that: (i) no amendment or
         modification shall be effective to decrease or restrict the value of a
         Participant's vested Account Balance in existence at the time the
         amendment or modification is made, calculated as if the Participant had
         experienced a Termination of Employment as of the effective date of the
         amendment or modification or, if the amendment or modification occurs
         after the date upon which the Participant was eligible to Retire, the
         Participant had Retired as of the effective date of the amendment or
         modification, and (ii) no amendment or modification of this Section
         13.2 or Section 14.2 Of the Plan shall be effective. The amendment or
         modification of the Plan shall not affect any Participant or
         Beneficiary who has become entitled to the

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         payment of benefits under the Plan as of the date of the amendment or
         modification; provided, however, that the Employer shall have the right
         to accelerate installment payments by paying the vested Account Balance
         in a lump sum or pursuant to an Annual Installment Method using fewer
         years.

13.3     PLAN AGREEMENT. Despite the provisions of Sections 13.1 and 13.2 above,
         if a Participant's Plan Agreement contains benefits or limitations that
         are not in this Plan document, the Employer may only amend or terminate
         such provisions with the consent of the Participant.

13.4     EFFECT OF PAYMENT. The full payment of the Participant's vested Account
         Balance under Articles 5, 6, 7, 8, 9 or 10 of the Plan shall completely
         discharge all obligations to a Participant and his or her designated
         Beneficiaries under this Plan and the Participant's Plan Agreement
         shall terminate.

                                   ARTICLE 14
                                 ADMINISTRATION

14.1     COMMITTEE DUTIES. Except as otherwise provided in this Article 14, this
         Plan shall be administered by a Committee which shall consist of the
         Board, or such committee as the Board shall appoint. Members of the
         Committee may be Participants under this Plan. The Committee shall also
         have the discretion and authority to (i) make, amend, interpret, and
         enforce all appropriate rules and regulations for the administration of
         this Plan and (ii) decide or resolve any and all questions including
         interpretations of this Plan, as may arise in connection with the Plan.
         Any individual serving on the Committee who is a Participant shall not
         vote or act on any matter relating solely to himself or herself. When
         making a determination or calculation, the Committee shall be entitled
         to rely on information furnished by a Participant or the Company.

14.2     ADMINISTRATION UPON CHANGE IN CONTROL. For purposes of this Plan, the
         Committee shall be the "Administrator" at all times prior to the
         occurrence of a Change in Control. Upon and after the occurrence of a
         Change in Control, the "Administrator" shall be the Trustee, or if the
         Trustee is unable to accept such responsibility, an independent third
         party selected by the Trustee and approved by the individual who,
         immediately prior to such event, was the Company's Chief Executive
         Officer or, if not so identified, the Company's highest ranking officer
         (the "Ex-CEO"). If the Trustee is unable to accept such responsibility
         and an independent third party is not selected, the Committee, as
         constituted prior to the Change in Control, shall continue to act as
         the Administrator of this Plan. The Administrator shall have the
         discretionary power to determine all questions arising in connection
         with the administration of the Plan and the interpretation of the Plan
         including, but not limited to benefit entitlement determinations;
         provided, however, upon and after the occurrence of a Change in
         Control, the Administrator shall have no power to direct the investment
         of Plan or Trust assets or select any investment manager or custodial
         firm for the Plan or Trust. Upon and after the occurrence of a Change
         in Control, the Company must: (1) pay all reasonable administrative
         expenses and fees of the Administrator; (2) indemnify the Administrator
         against any costs, expenses and liabilities including, without
         limitation, attorney's fees and expenses arising in connection with the
         performance of the Administrator hereunder, except with respect to
         matters resulting from the gross negligence or willful misconduct of
         the Administrator or its employees or agents; and (3) supply full and
         timely information to the Administrator on all matters relating to the
         Plan, the

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         Trust, the Participants and their Beneficiaries, the Account Balances
         of the Participants, the date and circumstances of the Retirement,
         Disability, death or Termination of Employment of the Participants, and
         such other pertinent information as the Administrator may reasonably
         require. Upon and after a Change in Control, the Administrator may not
         be terminated by the company.

14.3     AGENTS. In the administration of this Plan, the Committee may, from
         time to time, employ agents and delegate to them such administrative
         duties as it sees fit (including acting through a duly appointed
         representative) and may from time to time consult with counsel who may
         be counsel to any Employer.

14.4     BINDING EFFECT OF DECISIONS. The decision or action of the
         Administrator with respect to any question arising out of or in
         connection with the administration, interpretation and application of
         the Plan and the rules and regulations promulgated hereunder shall be
         final and conclusive and binding upon all persons having any interest
         in the Plan.

14.5     INDEMNITY OF COMMITTEE. All Employers shall indemnify and hold harmless
         the members of the Committee, any Employee to whom the duties of the
         Committee may be delegated, and the Administrator against any and all
         claims, losses, damages, expenses or liabilities arising from any
         action or failure to act with respect to this Plan, except in the case
         of willful misconduct by the Committee, any of its members, any such
         Employee or the Administrator.

14.6     EMPLOYER INFORMATION. To enable the Committee and/or Administrator to
         perform its functions, the Company and each Employer shall supply full
         and timely information to the Committee and/or Administrator, as the
         case may be, on all matters relating to the compensation of its
         Participants, the date and circumstances of the Retirement, Disability,
         death or Termination of Employment of its Participants, and such other
         pertinent information as the Committee or Administrator may reasonably
         require.

                                   ARTICLE 15
                         OTHER BENEFITS AND AGREEMENTS

15.1     COORDINATION WITH OTHER BENEFITS. The benefits provided for a
         Participant and Participant's Beneficiary under the Plan are in
         addition to any other benefits available to such Participant under any
         other plan or program for employees of the Participant's Employer. The
         Plan shall supplement and shall not supersede, modify or amend any
         other such plan or program except as may otherwise be expressly
         provided.

                                   ARTICLE 16
                                CLAIMS PROCEDURES

16.1     PRESENTATION OF CLAIM. Any Participant or Beneficiary of a deceased
         Participant (such Participant or Beneficiary being referred to below as
         a "Claimant") may deliver to the Committee a written claim for a
         determination with respect to the amounts distributable to such
         Claimant from the Plan. If such a claim relates to the contents of a
         notice received by the Claimant, the claim must be made within sixty
         (60) days after such notice was received by the Claimant. All other
         claims must be made within 180 days of the date on which the event that

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         caused the claim to arise occurred. The claim must state with
         particularity the determination desired by the Claimant.

16.2     NOTIFICATION OF DECISION. The Committee shall consider a Claimant's
         claim within a reasonable time, but no later than ninety (90) days
         after receiving the claim. If the Committee determines that special
         circumstances require an extension of time for processing the claim,
         written notice of the extension shall be furnished to the Claimant
         prior to the termination of the initial ninety (90) day period. In no
         event shall such extension exceed a period of ninety (90) days from the
         end of the initial period. The extension notice shall indicate the
         special circumstances requiring an extension of time and the date by
         which the Committee expects to render the benefit determination. The
         Committee shall notify the Claimant in writing:

         (a)      that the Claimant's requested determination has been made, and
                  that the claim has been allowed in full; or

         (b)      that the Committee has reached a conclusion contrary, in whole
                  or in part, to the Claimant's requested determination, and
                  such notice must set forth in a manner calculated to be
                  understood by the Claimant:

                  (i)      the specific reason(s) for the denial of the claim,
                           or any part of it;

                  (ii)     specific reference(s) to pertinent provisions of the
                           plan upon which such denial was based;

                  (iii)    a description of any additional material or
                           information necessary for the Claimant to perfect the
                           claim, and an explanation of why such material or
                           information is necessary;

                  (iv)     an explanation of the claim review procedure set
                           forth in section 16.3 Below; and

                  (v)      a statement of the Claimant's right to bring a civil
                           action under ERISA Section 502(a) following an
                           adverse benefit determination on review.

16.3     REVIEW OF A DENIED CLAIM. On or before sixty (60) days after receiving
         a notice from the Committee that a claim has been denied, in whole or
         in part, a Claimant (or the Claimant's duly authorized representative)
         may file with the Committee a written request for a review of the
         denial of the claim. The Claimant (or the Claimant's duly authorized
         representative):

         (a)      may, upon request and free of charge, have reasonable access
                  to, and copies of, all documents, records and other
                  information relevant to the claim for benefits;

         (b)      may submit written comments or other documents; and/or

         (c)      may request a hearing, which the Committee, in its sole
                  discretion, may grant.

16.4     DECISION ON REVIEW. The Committee shall render its decision on review
         promptly, and no later than sixty (60) days after the Committee
         receives the Claimant's written request for a review of the denial of
         the claim. If the Committee determines that special circumstances
         require an extension of time for processing the claim, written notice
         of the extension shall be furnished to the Claimant prior to the
         termination of the initial sixty (60) day period. In no event shall
         such extension exceed a period of sixty (60) days from the end of the
         initial period. The extension notice shall indicate the special
         circumstances requiring an extension of time and the date by

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         which the Committee expects to render the benefit determination. In
         rendering its decision, the Committee shall take into account all
         comments, documents, records and other information submitted by the
         Claimant relating to the claim, without regard to whether such
         information was submitted or considered in the initial benefit
         determination. The decision must be written in a manner calculated to
         be understood by the Claimant, and it must contain:

         (a)      specific reasons for the decision;

         (b)      specific reference(s) to the pertinent Plan provisions upon
                  which the decision was based;

         (c)      a statement that the Claimant is entitled to receive, upon
                  request and free of charge, reasonable access to and copies
                  of, all documents, records and other information relevant (as
                  defined in applicable ERISA regulations) to the Claimant's
                  claim for benefits; and

         (d)      a statement of the Claimant's right to bring a civil action
                  under ERISA Section 502(a).

16.5     LEGAL ACTION. A Claimant's compliance with the foregoing provisions of
         this Article 16 is a mandatory prerequisite to a Claimant's right to
         commence any legal action with respect to any claim for benefits under
         this Plan.

                                   ARTICLE 17
                                      TRUST

17.1     ESTABLISHMENT OF THE TRUST. In order to provide assets from which to
         fulfill the obligations of the Participants and their beneficiaries
         under the Plan, the Company may establish a Trust by a trust agreement
         with a third party, the trustee, to which each Employer may, in its
         discretion, contribute cash or other property, including securities
         issued by the Company, to provide for the benefit payments under the
         Plan.

17.2     INTERRELATIONSHIP OF THE PLAN AND THE TRUST. The provisions of the Plan
         and the Plan Agreement shall govern the rights of a Participant to
         receive distributions pursuant to the Plan. The provisions of the Trust
         shall govern the rights of the Employers, Participants and the
         creditors of the Employers to the assets transferred to the Trust. Each
         Employer shall at all times remain liable to carry out its obligations
         under the Plan.

17.3     DISTRIBUTIONS FROM THE TRUST. Each Employer's obligations under the
         Plan may be satisfied with Trust assets distributed pursuant to the
         terms of the Trust, and any such distribution shall reduce the
         Employer's obligations under this Plan.

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                                   ARTICLE 18
                                  MISCELLANEOUS

18.1     STATUS OF PLAN. The Plan is intended to be a plan that is not qualified
         within the meaning of Code Section 401(a) and that "is unfunded and is
         maintained by an employer primarily for the purpose of providing
         deferred compensation for a select group of management or highly
         compensated employees" within the meaning of ERISA Sections 201(2),
         301(a)(3) and 401(a)(1). The plan shall be administered and interpreted
         to the extent possible in a manner consistent with that intent.

18.2     UNSECURED GENERAL CREDITOR. Participants and their Beneficiaries,
         heirs, successors and assigns shall have no legal or equitable rights,
         interests or claims in any property or assets of an Employer. For
         purposes of the payment of benefits under this Plan, any and all of an
         Employer's assets shall be, and remain, the general, unpledged
         unrestricted assets of the Employer. An Employer's obligation under the
         Plan shall be merely that of an unfunded and unsecured promise to pay
         money in the future.

18.3     EMPLOYER'S LIABILITY. An Employer's liability for the payment of
         benefits shall be defined only by the Plan and the Plan Agreement, as
         entered into between the Employer and a Participant. An Employer shall
         have no obligation to a Participant under the Plan except as expressly
         provided in the Plan and his or her Plan Agreement.

18.4     NONASSIGNABILITY. Neither a Participant nor any other person shall have
         any right to commute, sell, assign, transfer, pledge, anticipate,
         mortgage or otherwise encumber, transfer, hypothecate, alienate or
         convey in advance of actual receipt, the amounts, if any, payable
         hereunder, or any part thereof, which are, and all rights to which are
         expressly declared to be, unassignable and non-transferable. No part of
         the amounts payable shall, prior to actual payment, be subject to
         seizure, attachment, garnishment or sequestration for the payment of
         any debts, judgments, alimony or separate maintenance owed by a
         Participant or any other person, be transferable by operation of law in
         the event of a Participant's or any other person's bankruptcy or
         insolvency or be transferable to a spouse as a result of a property
         settlement or otherwise.

18.5     NOT A CONTRACT OF EMPLOYMENT. The terms and conditions of this Plan
         shall not be deemed to constitute a contract of employment between any
         Employer and the Participant. Such employment is hereby acknowledged to
         be an "at will" employment relationship that can be terminated at any
         time for any reason, or no reason, with or without cause, and with or
         without notice, unless expressly provided in a written employment
         agreement. Nothing in this Plan shall be deemed to give a Participant
         the right to be retained in the service of any Employer as an Employee
         or to interfere with the right of any Employer to discipline or
         discharge the Participant at any time.

18.6     FURNISHING INFORMATION. A Participant or his or her Beneficiary will
         cooperate with the Committee by furnishing any and all information
         requested by the Committee and take such other actions as may be
         requested in order to facilitate the Administration of the Plan and the
         payments of benefits hereunder, including but not limited to taking
         such physical examinations as the Committee may deem necessary.

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18.7     TERMS. Whenever any words are used herein in the masculine, they shall
         be construed as though they were in the feminine in all cases where
         they would so apply; and whenever any words are used herein in the
         singular or in the plural, they shall be construed as though they were
         used in the plural or the singular, as the case may be, in all cases
         where they would so apply.

18.8     CAPTIONS. The captions of the articles, sections and paragraphs of this
         Plan are for convenience only and shall not control or affect the
         meaning or construction of any of its provisions.

18.9     GOVERNING LAW. Subject to ERISA, the provisions of this Plan shall be
         construed and interpreted according to the internal laws of the State
         of Illinois without regard to its conflicts of laws principles.

18.10    NOTICE. Any notice or filing required or permitted to be given to the
         Committee under this Plan shall be sufficient if in writing and
         hand-delivered, or sent by registered or certified mail, to the address
         below:

                  Chris Mitchell, Vice President Corporate Human Resources
                  Clark, Inc.
                  102 South Wynstone Park Drive
                  North Barrington, Illinois 60010

         Such notice shall be deemed given as of the date of delivery or, if
         delivery is made by mail, as of the date shown on the postmark on the
         receipt for registration or certification.

         Any notice or filing required or permitted to be given to a Participant
         under this Plan shall be sufficient if in writing and hand-delivered,
         or sent by mail, to the last known address of the Participant.

18.11    SUCCESSORS. The provisions of this Plan shall bind and inure to the
         benefit of the Participant's Employer and its successors and assigns
         and the Participant and the Participant's designated Beneficiaries.

18.12    SPOUSE'S INTEREST. The interest in the benefits hereunder of a spouse
         of a Participant who has predeceased the Participant shall
         automatically pass to the Participant and shall not be transferable by
         such spouse in any manner, including but not limited to such spouse's
         will, nor shall such interest pass under the laws of intestate
         succession.

18.13    VALIDITY. In case any provision of this Plan shall be illegal or
         invalid for any reason, said illegality or invalidity shall not affect
         the remaining parts hereof, but this Plan shall be construed and
         enforced as if such illegal or invalid provision had never been
         inserted herein.

18.14    INCOMPETENT. If the Committee determines in its discretion that a
         benefit under this Plan is to be paid to a minor, a person declared
         incompetent or to a person incapable of handling the disposition of
         that person's property, the Committee may direct payment of such
         benefit to the guardian, legal representative or person having the care
         and custody of such minor, incompetent or incapable person. The
         Committee may require proof of minority, incompetence, incapacity or
         guardianship, as it may deem appropriate prior to distribution of the
         benefit. Any payment of a benefit shall be a payment for the account of
         the Participant and the Participant's Beneficiary, as the case may be,
         and shall be a complete discharge of any liability under the Plan for
         such payment amount.

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18.15    COURT ORDER. The Committee is authorized to make any payments directed
         by court order in any action in which the Plan or the Committee has
         been named as a party. In addition, if a court determines that a spouse
         or former spouse of a Participant has an interest in the Participant's
         benefits under the Plan in connection with a property settlement or
         otherwise, the Committee, in its sole discretion, shall have the right,
         notwithstanding any election made by a Participant, to immediately
         distribute the spouse's or former spouse's interest in the
         Participant's benefits under the Plan to that spouse or former spouse.

18.16    DISTRIBUTION IN THE EVENT OF TAXATION.

         (a)      IN GENERAL. If, for any reason, all or any portion of a
                  Participant's benefits under this Plan becomes taxable to the
                  Participant prior to receipt, a Participant may petition the
                  Committee for a distribution of that portion of his or her
                  benefit that has become taxable. Upon the grant of such a
                  petition, which grant shall not be unreasonably withheld, a
                  Participant's Employer shall distribute to the Participant
                  immediately available funds in an amount equal to the taxable
                  portion of his or her benefit (which amount shall not exceed a
                  Participant's unpaid vested Account Balance under the Plan).
                  If the petition is granted, the tax liability distribution
                  shall be made within 90 days of the date when the
                  Participant's petition is granted. Such a distribution shall
                  affect and reduce the benefits to be paid under this Plan.

         (b)      TRUST. If the Trust terminates in accordance with its terms
                  and benefits are distributed from the Trust to a Participant
                  in accordance therewith, the Participant's benefits under this
                  Plan shall be reduced to the extent of such distributions.

18.17    INSURANCE. The Employers, on their own behalf or on behalf of the
         trustee of the Trust, and, in their sole discretion, may apply for and
         procure insurance on the life of the Participant, in such amounts and
         in such forms as the Trust may choose. The Employers or the trustee of
         the Trust, as the case may be, shall be the sole owner and beneficiary
         of any such insurance. The Participant shall have no interest
         whatsoever in any such policy or policies, and at the request of the
         Employers shall submit to medical examinations and supply such
         information and execute such documents as may be required by the
         insurance company or companies to whom the Employers have applied for
         insurance.

18.18    LEGAL FEES TO ENFORCE RIGHTS AFTER CHANGE IN CONTROL. The Company and
         each Employer is aware that upon the occurrence of a Change in Control,
         the Board or the board of directors of a Participant's Employer (which
         might then be composed of new members) or a shareholder of the Company
         or the Participant's Employer, or of any successor corporation might
         then cause or attempt to cause the Company, the Participant's Employer
         or such successor to refuse to comply with its obligations under the
         Plan and might cause or attempt to cause the Company or the
         Participant's Employer to institute, or may institute, litigation
         seeking to deny Participants the benefits intended under the Plan. In
         these circumstances, the purpose of the Plan could be frustrated.
         Accordingly, if, following a Change in Control, it should appear to any
         Participant that the Company, the Participant's Employer or any
         successor corporation has failed to comply with any of its obligations
         under the Plan or any agreement thereunder or, if the Company, such
         Employer or any other person takes any action to declare the Plan void
         or unenforceable or institutes any litigation or other legal action
         designed to deny, diminish or to recover from any Participant the
         benefits intended to be provided, then the Company and the
         Participant's

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         Employer irrevocably authorize such Participant to retain counsel of
         his or her choice at the expense of the Company and the Participant's
         Employer (who shall be jointly and severally liable) to represent such
         Participant in connection with the initiation or defense of any
         litigation or other legal action, whether by or against the Company,
         the Participant's Employer or any director, officer, shareholder or
         other person affiliated with the Company, the Participant's Employer or
         any successor thereto in any jurisdiction.

IN WITNESS WHEREOF, the Company has signed this Plan document as of December 12,
2003.

                           "Company"
                           Clark, Inc., a Delaware corporation

                           By:    /s/ Christopher G. Mitchell
                                  ----------------------------------------------

                           Title: Vice President of Corporate Human Resources
                                  ----------------------------------------------

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                                   APPENDIX A
                              PREDECESSOR EMPLOYERS

                        PREDECESSOR EMPLOYERS                     SPECIFIED DATE

Bank Compensation Strategies                                         9/5/1997

Schoenke & Associates                                               9/18/1998

Wiedemann & Johnson                                                 11/16/1998

Phynque, Inc. d/b/a MCG Healthcare d/b/a Healthcare
Compensation Strategies                                              4/5/1999

National Institute for Community Banking                            5/18/1999

The Wamber Organization                                              9/1/1999

Banking Consultants of America                                      10/6/1999

Christiansen & Associates                                           2/18/2000

Michael Schaefer                                                    2/18/2000

The Watson Company                                                  2/18/2000

W. M. Sheehan & Co.                                                 6/13/2000

Pearl Meyer & Partners                                              6/21/2000

Compensation Resource Group                                          9/6/2000

Forrest, Wagner & Associates                                        10/23/2000

Rich, Florin Solutions d/b/a Executive Alliance                     3/13/2001

Partners First                                                      3/23/2001

Management Science Associates                                       7/25/2001

Lyons Compensation & Benefits                                        9/4/2001

Coates Kenney                                                       12/26/2001

PriceWaterhouseCoopers/FPG                                          2/25/2002

Comiskey Kaufman                                                    4/26/2002

Hilgenberg & Associates                                             4/26/2002

A.A. Human Capital Group                                            5/15/2002

LongMiller & Associates                                             11/26/2002

Executive Benefit Solutions, L.L.C.                                 9/30/2003

Blackwood Planning Corp.                                            10/7/2003

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                                       A-1

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