Document:

Exhibit 10.2

RESTRICTED STOCK AGREEMENT

THIS RESTRICTED STOCK AGREEMENT is made effective as of the 31st day of August,
2007, between Christopher & Banks Corporation, a Delaware corporation (the “Company”),
and Lorna Nagler (“Employee”).

1.             Award.

(a)           Shares.  Pursuant to the Christopher
& Banks Corporation 2005 Stock Incentive Plan, as amended (the “Plan”),
Forty Thousand (40,000) shares (the “Restricted Shares”) of the Company’s
common stock, par value $0.01 per share (“Stock”), shall be issued as hereinafter
provided in Employee’s name subject to certain restrictions thereon.

(b)           Issuance of Restricted Shares.  The
Restricted Shares shall be issued upon acceptance hereof by Employee and upon
satisfaction of the conditions of this Agreement.

(c)           Plan Incorporated.  Employee
acknowledges receipt of a copy of the Plan, and agrees that this award of
Restricted Shares shall be subject to all of the terms and conditions set forth
in the Plan, including future amendments thereto, if any, pursuant to the terms
thereof, which Plan is incorporated herein by reference as a part of this
Agreement.

2.             Restricted Shares.  Employee
hereby accepts the Restricted Shares when issued and agrees with respect
thereto as follows:

(a)           Forfeiture Restrictions.  The
Restricted Shares may not be sold, assigned, pledged, exchanged, hypothecated
or otherwise transferred, encumbered or disposed of, and no dividends will be
paid to Employee or accrue to Employee’s benefit, to the extent then subject to
the Forfeiture Restrictions (as hereinafter defined), and in the event of
termination of Employee’s employment with the Company or employing subsidiary
for any reason other than (i) normal retirement on or after age sixty-five,
(ii) death or (iii) disability as determined by the Company or employing
subsidiary, or except as otherwise provided in the penultimate sentence of
subparagraph (b) of this Paragraph 2, Employee shall, for no consideration,
forfeit to the Company all Restricted Shares to the extent then subject to the
Forfeiture Restrictions.  The prohibition
against transfer and the obligation to forfeit and surrender Restricted Shares
to the Company upon termination of employment are herein referred to as “Forfeiture
Restrictions.”  The Forfeiture
Restrictions shall be binding upon and enforceable against any transferee of
Restricted Shares.

(b)           Lapse of Forfeiture Restrictions.  The
Forfeiture Restrictions shall lapse as to the Restricted Shares on May 31,
2008, provided that (i) Employee has been continuously employed by the
Company through that date and has not given any notice of resignation before or
on that date and (ii) prior to that date Employee has delivered to the Company’s
Board of Directors a strategic plan for the Acorn Division together with a
schedule for implementation of the plan.  Notwithstanding the foregoing, the Forfeiture
Restrictions shall lapse as to all of the Restricted Shares on the earlier of
(i) the occurrence of a

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Change in Control (as such term is defined in Section 10
of the Plan), or (ii) the date Employee’s employment with the Company is
terminated by reason of death, disability (as determined by the Company or
employing subsidiary) or normal retirement on or after age sixty-five.  In the event Employee’s employment is
terminated for any other reason, including retirement prior to age sixty-five
with the approval of the Company or employing subsidiary, the Committee which
administers the Plan (the “Committee”) may, in the Committee’s sole discretion,
approve the lapse of Forfeiture Restrictions as to any or all Restricted Shares
still subject to such restrictions, such lapse to be effective on the date of
such approval or Employee’s termination date, if later.  If the Employee is not, and was not during
any portion of Employee’s term of employment, obligated to file reports with
respect to the Company’s equity securities pursuant to Section 16(a) of the
Securities Exchange Act of 1934, as amended, the Committee may delegate its
authority to approve the lapse of forfeiture restrictions as set forth in preceding
sentence to such designee as the Committee deems appropriate in its sole
discretion.

(c)           Certificates.  A
certificate evidencing the Restricted Shares shall be issued by the Company in
Employee’s name, or at the option of the Company, in the name of a nominee of
the Company, pursuant to which Employee shall have voting rights and, following
the lapse of forfeiture restrictions, shall be entitled to receive all
dividends.  All voting rights shall
terminate when the Restricted Shares are forfeited pursuant to the provisions
of this Agreement.  The certificate shall
bear a legend evidencing the nature of the Restricted Shares, and the Company
may cause the certificate to be delivered upon issuance to the Secretary of the
Company or to such other depository as may be designated by the Company as a
depository for safekeeping until the forfeiture occurs or the Forfeiture
Restrictions lapse pursuant to the terms of the Plan and this award.  Upon request of the Committee or its
delegate, Employee shall deliver to the Company a stock power, endorsed in
blank, relating to the Restricted Shares then subject to the Forfeiture
Restrictions.  Upon the lapse of the
Forfeiture Restrictions without forfeiture, the Company shall cause a new
certificate or certificates to be issued without legend in the name of Employee
for the shares upon which Forfeiture Restrictions lapsed.  Notwithstanding any other provisions of this
Agreement, the issuance or delivery of any shares of Stock (whether subject to
restrictions or unrestricted) may be postponed for such period as may be
required to comply with applicable requirements of any national securities
exchange or any requirements under any law or regulation applicable to the
issuance or delivery of such shares.  The
Company shall not be obligated to issue or deliver any shares of Stock if the
issuance or delivery thereof shall constitute a violation of any provision of
any law or of any regulation of any governmental authority or any national
securities exchange.

3.             Withholding of Tax.  To the
extent that the receipt of the Restricted Shares or the lapse of any Forfeiture
Restrictions results in income to Employee for federal or state income tax
purposes, Employee shall deliver to the Company at the time of such receipt or
lapse, as the case may be, such amount of money as the Company may require to
meet its withholding obligation under applicable tax laws or regulations, and,
if Employee fails to do so, the Company is authorized to withhold from any cash
or Stock remuneration or expense reimbursements then or thereafter payable to
Employee any tax required to be withheld by reason of such resulting
compensation income.

4.             Status of Stock.  Employee
agrees that the Restricted Shares will not be sold or otherwise disposed of in
any manner which would constitute a violation of any applicable federal or
state securities laws.  Employee also
agrees (i) that the certificates representing the Restricted Shares may bear
such legend or legends as the Company deems appropriate in order to assure
compliance with applicable securities laws, (ii) that the Company may refuse to
register the transfer of the Restricted Shares on the stock transfer records of
the Company if such proposed transfer would, in the opinion of counsel to the
Company, constitute a violation of

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any applicable securities law and (iii) that the Company
may give related instructions to its transfer agent, if any, to stop
registration of the transfer of the Restricted Shares.

5.             Employment Relationship.  Nothing
in this Agreement shall be construed as constituting a commitment, guaranty,
agreement, or understanding of any kind or nature that the Company or its
subsidiaries shall continue to employ the Employee and this Agreement shall not
affect in any way the right of the Company or its subsidiaries to terminate the
employment of the Employee.  For purposes of this Agreement, Employee shall be
considered to be in the employment of the Company as long as Employee remains
an employee of either the Company, any successor corporation or a parent or
subsidiary corporation of the Company or any successor corporation.  Any question as to whether and when there has
been a termination of such employment, and the cause of such termination, shall
be determined by the Committee, or its delegate, as appropriate, and its
determination shall be final.

6.             Committee’s Powers.  No
provision contained in this Agreement shall in any way terminate, modify or
alter, or be construed or interpreted as terminating, modifying or altering any
of the powers, rights or authority vested in the Committee or, to a delegate to
the extent of such delegation, pursuant to the terms of the Plan or resolutions
adopted in furtherance of the Plan, including, without limitation, the right to
make certain determinations and elections with respect to the Restricted
Shares.

7.             Binding Effect.  This
Agreement shall be binding upon and inure to the benefit of any successors to
the Company and all lawful successors to Employee permitted under the terms of
the Plan.

8.             Governing Law.  This
Agreement shall be governed by, and construed in accordance with, the laws of
the State of Delaware, without reference to the principles of conflicts of
laws.

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IN WITNESS WHEREOF, the Company has caused this Agreement to be
duly executed by an officer thereunto duly authorized, and Employee has
executed this Agreement, all as of the date first above written.

 

	
   

  	
  CHRISTOPHER & BANKS

  
	
   

  	
   

  	
  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
      /s/Larry
  Barenbaum

  	
   

  
	
   

  	
   

  	
   

  	
   Larry Barenbaum

  
	
   

  	
   

  	
   

  	
   Chairman

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  EMPLOYEE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Signed: 

  	
           /s/Lorna
  Nagler

  	
   

  
	
   

  	
   

  	
   

  	
               Lorna
  Nagler

  	
   

  
						

 

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Please Check Appropriate Item (One of the lines must be checked):

	
  o

  	
  I do not desire the
  alternative tax treatment provided for in the Internal Revenue Code Section
  83(b).

  
	
   

  	
   

  
	
  o

  	
  I do desire the alternative
  tax treatment provided for in Internal Revenue Code Section 83(b) and desire
  that forms for such purpose be forwarded to me.

  

 

* I acknowledge that the Company has suggested that
before this block is checked that I check with a tax consultant of my choice.

Please furnish the following information for shareholder records:

 

	
  

  	
   

  	
   

  	
   

  
	
  (Given name and
  initial must be used

  	
   

  	
  Social Security Number

  	
   

  
	
  for stock
  registry)

  	
   

  	
  (if applicable)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Address (Street)

  	
   

  	
  Birth Date

  	
   

  
	
   

  	
   

  	
  Month/Day/Year

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Address (City)

  	
   

  	
  Name of Employer

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Address (Zip
  Code)

  	
   

  	
  Day phone number

  	
   

  

 

 

United States Citizen:  Yes o No o

PROMPTLY
NOTIFY THIS OFFICE OF ANY CHANGE IN ADDRESS.

 5Exhibit 10.1

	
  

  	
  Snap-on Incorporated

  	
   

  
	
   

  	
  P.O. Box 1430 • Kenosha, WI 53141-1430 •
  262-656-5200

  	
   

  

 

JACK D. MICHAELS

Chairman and Chief
Executive Officer

REVISED

August 2, 2007

VIA HAND DELIVERY

PERSONAL AND CONFIDENTIAL

Ms.
Susan F. Marrinan

Vice President and Chief Legal Officer

Snap-on Incorporated

P. O. Box 1410

2810 – 80th Street

Kenosha, WI 53141-1410

Dear
Susan:

This
revised letter confirms our recent discussion regarding your employment status
with Snap-on Incorporated (the “Company”)
in conjunction with the reorganization of the Legal Department and your
subsequent retirement from employment with the Company.  The details
of our discussions are set out below.  For your information, an outline of
the details set out below has been reviewed and approved by the Company’s Board
of Directors.

1.             Active
Employment Period

It
is understood that during the period from the date of this letter through
November 30, 2007, or (i) such earlier date as designated in writing by me
or my designee upon not less than thirty (30) days’ advance written notice to
you, or (ii) such later date as designated in writing by me or my designee, but
in no event later than December 31, 2007 (the “active employment period”) you shall remain in the employ of
the Company with your current employment duties and title and you shall
continue to report to me.

Provided
that you abide by your obligations under this letter agreement, fulfill your
duties and responsibilities in a satisfactory manner, and adhere to the Company’s
policies, all existing terms and conditions of employment, including, but not
limited to, your current base salary, bonus eligibility under the 2007
Management Incentive Plan and employee benefits shall remain unchanged during
the active employment period.

With
respect to the 2007 Management Incentive Plan, the Company agrees that, 
notwithstanding any contrary plan provisions, your bonus eligibility shall be
evaluated consistent with those standards applied to other senior officers of
the Company.

The
Company acknowledges that nothing in this letter agreement shall preclude you
from using any accrued benefit, including, but not limited to, accrued
vacation, during the active employment period.

On
the last day of the active employment period, or such earlier date requested by
me or my designee, you agree to resign all officer and director positions you
may hold in the Company or any other entity for which you serve as an officer
and/or director at the request of the Company.  You also agree to execute
and deliver appropriate formal letters prepared by the Company confirming your
resignation to each affected entity upon the Company’s request.

2.             Inactive
Employment Period

On
the conditions that (i) you carry out your duties and responsibilities during
the active employment period in a satisfactory manner, abide by your
obligations under this letter agreement and adhere to the Company’s policies
during the active employment period, (ii) not later than August 31, 2007
you sign, date and return to me a copy of this letter agreement, (iii) on or
within five (5) days after the last day of the active employment period you
sign, date and return to me the Waiver and Release Agreement attached hereto as
Attachment I, and (iv) you do not revoke the signed Waiver and Release
Agreement, in lieu of your employment with the Company ending as of the last
day of the active employment period, the Company will enter into the following
inactive employment period arrangement with you:

(a)                                  During the period from the day following the
last day of the active employment period through May 31, 2008 (the “inactive employment period”) you shall
remain in the employ of the Company, with the employment duties as a legal
advisor to the Company with the title of Senior Legal Advisor.  During the
inactive employment period, you shall make your transitional legal advisory
services available to employees and authorized representatives of the Company
as specifically requested by me or my designee.  You shall not independently
initiate the provision of legal services nor shall you represent yourself as
authorized to act on behalf of the Company, except as approved in advance by me
or my designee.

Your transitional legal advisory services
shall primarily involve (i) those areas and matters in which you were involved
prior to the commencement of the inactive employment period and (ii) assistance
in transitioning management of the Legal Department.  During the inactive
employment period, you will report to me or my designee and you will not be
required to be present at the Company’s offices unless otherwise requested by
me or my designee.  The Company shall reimburse you under the Company’s

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Travel and Reimbursement policy for
reasonable business expenses you incur as a result of your complying with this
provision.

(b)                                 During the inactive employment period, your
current base salary shall remain in effect and be paid monthly.  During
the inactive employment period, you agree that (i) you shall not be eligible to
participate in the 2008 Management Incentive Plan nor receive a bonus
attributable to the 2008 Management Incentive Plan and (ii) you will not
receive any 2008 stock option grants nor any Company Long-Term Performance Plan
grants.  With respect to employee benefits, during the inactive employment
period you shall be eligible to participate in the employee benefits plans and
programs of the Company in which you are participating as of the last day of
the active employment period, except that you agree that during the inactive
employment period you shall not accrue nor be eligible to receive any
additional vacation time.  You also agree to execute and deliver
appropriate formal letters prepared by the Company confirming your waiver of
vacation accrual, your ineligibility to receive any bonus attributable to the
2008 Management Incentive Plan, and your ineligibility to receive any 2008
stock option grants or any Company Long-Term Performance Plan grants.

(c)                                  During the inactive employment period (and
the active employment period as well), the Company will pay for those expenses
related to a reasonable number of continuing legal education courses in which
you participate and satisfactorily complete, including, but not limited to,
registration fees and reasonable travel expenses.

You
acknowledge that the foregoing inactive employment period arrangement and the
compensation payable and employee benefits available during the inactive
employment period are extra compensation and benefits which you would not be
entitled to under the Company’s established policies, plans and procedures and
the availability of the extra compensation and benefits is in exchange for your
signing the letter agreement and signing (and not later revoking) the Waiver
and Release Agreement attached hereto as Attachment I.  You further
acknowledge and agree that the Company’s offer of the inactive employment
period arrangement to you and your signing of this letter agreement and the
Waiver and Release Agreement attached hereto as Attachment I does not in any
way indicate that you have any viable claims against the Company nor that the
Company admits or has any liability to you whatsoever.

3.             Retirement From
Employment/Retirement Benefits

Provided
that (i) you remain in the employ of the Company through the active employment
period and inactive employment period, and (ii) abide by your 

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obligations
under the letter agreement and adhere to the Company’s policies during the
active employment period and inactive employment period, your retirement from
employment with the Company shall be effective May 31, 2008.  The
Company reserves the right to separate you from employment prior to
May 31, 2008 in the event that the Company determines in its reasonable
judgment that you are in breach of this letter agreement and/or the Waiver and
Release Agreement attached hereto as Attachment I.

All
salary and any employee benefits due to you as of your May 31, 2008
retirement date or earlier separation date according to the established
policies, plans and procedures of the Company shall be paid or made available
to you in accordance with the terms of those established policies, plans and
procedures.  As of your May 31, 2008 retirement date, (i) all vested
stock options, restricted stock and performance shares may be exercised in
accordance with the terms of the applicable equity plans and agreements, and
(ii) all unvested stock options, restricted stock and performance shares will
lapse and terminate.  For avoidance of doubt and subject to the applicable
equity plans and related agreements, assuming that your retirement date occurs
on May 31, 2008:

(a)                                  The Company stock options granted to you on
February 16, 2006 will be fully vested on February 16, 2008.

(b)                                 One-third of the Company stock options
granted to you on February 15, 2007 will be vested on February 15,
2008, with the remainder of the grant forfeited upon your May 31, 2008
retirement date.

(c)                                  Your entire grant from the 2005 through 2007
Long-Term Performance Plan of the Company will be eligible to vest based upon
financial performance during the performance period.

(d)                                 Your grants from the 2006 through 2008 as
well as the 2007 through 2009 Long-Term Performance Plans of the Company will
be eligible to vest on a pro-rata portion basis through your May 31, 2008
retirement date.  Thus 80% of the 2006 through 2008 Plan and 47% of the
2007 through 2009 Plan will remain eligible for vesting based upon financial
performance during the applicable performance period.

(e)                                  The percentage of vesting will be in
accordance with the Long-Term Performance Plans.  Any payments would be
payable to you by April 30 of the year following the completion of the
applicable performance period.

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In
addition, all vested amounts as of your May 31, 2008 retirement date or
earlier separation date due to you under the Company’s Deferred
Compensation Plan will be paid to you in accordance with the terms of such Plan
and your deferral elections.  Moreover, any employee benefit plan
continuation or conversion rights existing under the established employee
benefit plans of the Company shall be made available to you in accordance with
the terms of such established plans.

On
the conditions that (i) on or within five (5) days after your May 31, 2008
retirement date, you sign, date and return to me or my designee the Waiver and
Release Agreement attached hereto as Attachment II, and (ii) you do not revoke
the signed Waiver and Release Agreement, you will receive from the Company as
Retirement Benefits the following:

(a)                                  As a special retirement payment, you shall
receive an amount equal to the number of weeks of your current annualized base
salary determined by subtracting from fifty-two (52) weeks the number of weeks
of your current annualized base salary which you were paid during the inactive
employment period.  The special retirement payment shall be paid in equal
monthly installments on the fourth Friday of every month commencing on June 22,
2008.

(b)                                 You will be eligible to continue Company
sponsored medical and/or dental coverage under COBRA for up to eighteen
(18) months, or until comparable coverage is offered to you by a successor
employer.  Your COBRA event date will be your May 31, 2008 retirement
date.  You must enroll in COBRA within sixty (60) days of when the COBRA
information packet is mailed to you; the COBRA information packet will be
mailed to you by the COBRA administrator within two (2) weeks after your COBRA
event date.

If you elect to timely enroll for COBRA
continuation coverage, the Company will pay your COBRA premiums for medical
and/or dental continuation coverage for the earlier of eighteen (18) months, or
until comparable coverage is available to you by a successor employer. 
The COBRA payment period will run from June 1, 2008 through
November 30, 2009, unless comparable coverage is made available to you by
a successor employer prior to November 30, 2009.

You will also be eligible for Company
sponsored Retiree Health coverage and the Retiree Reimbursement Account. 
You must enroll in the Retiree Health coverage within thirty (30) days of when
COBRA reimbursement ends; this COBRA reimbursement ending date will be the
earlier of either December 1, 2009 or the date upon which your COBRA
coverage ends when comparable coverage is made available to you by a successor
employer.  If you enroll, the 

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Company will pay your premiums for Retiree
Health until the earlier of age 65 or when you voluntarily terminate coverage.

Retiree Reimbursement Account funds will be
available for reimbursement of qualified medical expenses immediately upon
retirement.  Retiree Reimbursement Account information will be mailed to
you on or about your May 31, 2008 retirement date; the mailing will
include the requisite forms for you to obtain reimbursements.

All of the terms and conditions of the
Company sponsored medical and/or dental plans, as amended from time to time,
shall be applicable to you (and your eligible dependents, if applicable)
participating in any form of continuation coverage under the Company sponsored
medical and/or dental plans.  A summary of the current plan provisions is
attached in Exhibit 1.

(c)                                  You will be provided at the Company’s expense
with a one (1) year executive level outplacement program provided by either
Lawrence, Allen & Kolbe, in Brookfield, Wisconsin, or such other
outplacement firm which you select and which the Company reasonably
approves.  Please note that, if you prefer, you may commence utilizing
such services at any time during the active or inactive employment periods, but
you must commence utilizing such service no later than sixty (60) days
following your May 31, 2008 retirement date.  The Company will not
pay cash to you in lieu of such outplacement program.

The
Company acknowledges that in the event of your death, the above-described
Retirement Benefits shall be paid to your designated beneficiaries in
accordance with any existing beneficiary designations, or, in the case of any
payments or benefits for which no beneficiary has been designated, the
beneficiaries that you shall designate pursuant to a form mutually acceptable
to you and the Company and which you file with the Company’s Vice President —
Human Resources.

You
acknowledge that the foregoing Retirement Benefits are extra benefits which
you would not be entitled to under the Company’s established policies,
plans and procedures and the Retirement Benefits are in exchange for your
signing (and not later revoking) the Waiver and Release Agreement attached
hereto as Attachment II.

4.             Notice/Revocation

You
are encouraged to consult with an attorney of your choice at your own expense prior
to signing a copy of this letter agreement and the Waiver and 

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Release
Agreements, and you acknowledge that you have been given at least twenty-one
(21) days within which to consider this letter agreement and the Waiver and
Release Agreements.  You acknowledge that the revisions reflected in this
revised letter agreement and the accompanying Waiver and Release Agreements do
not restart the running of the required minimum twenty-one (21) day period
which began on August 2, 2007.

You
are further advised that you may revoke either signed Waiver and Release
Agreement within seven (7) days after its signing.  Any such revocation
must be made in writing and be received by Iain Boyd, Vice President - Human
Resources within the seven (7) day period.  All legally required taxes and
any monies owed the Company shall be deducted from the monies and the employee
benefits provided under this letter agreement.

5.             Company Property/Expenses

On
your May 31, 2008 retirement date, or such earlier date requested by me or
my designee, and except for your Company computer (from which the Company shall
clear all Company related information) and your Company cell phone and cell
phone number, and home fax machine, all of which you may retain at no cost to
you, you must return to the Company all Company property including, but not
limited to, Confidential Information (defined below), Company identification
badge, credit/calling cards, laptop computer, information technology equipment,
pager, pda/Blackberry, mobile phone, documents and records (in paper or
electronic form), and other physical or personal property of the Company in
your possession or control and you agree you will not keep, transfer or use any
copies or excerpts of the foregoing items.  You must also ensure that all business
expenses for which you are entitled to reimbursement under the Company’s
expense reimbursement policy are documented and submitted for approval on a
timely basis.

6.             Confidentiality/Cooperation/Covenants

You
agree from and after today to keep strictly confidential the existence and
terms of this letter agreement and you further agree that you will not disclose
them to any person or entity, other than to your immediate family, your
attorney, and your financial advisor, or except as may be required by
law.  The Company agrees from and after today to keep strictly
confidential the existence and terms of this letter agreement and further
agrees not to disclose them except on a strict need-to-know basis or except as
may be required by law.

Except
as otherwise provided in this letter agreement or required under the terms of
the Company sponsored employee benefit plans, following your May 31, 2008
retirement date or earlier separation date the Company will have no further
obligations to you and you will have no further obligations to the
Company.  You acknowledge that after your May 31, 2008 retirement
date or earlier separation 

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date
you shall not represent yourself to be an employee of the Company nor take any
action which may bind the Company with regard to any customer, supplier,
distributor, franchisee, or any other party with whom you have had contact
while performing your duties as an employee of the Company.

You
further agree that from and after today you shall not, directly or indirectly,
make or cause to be made any disparaging, derogatory, misleading or false
statement, whether orally or in writing, to any person or entity, including
members of the investment community, press, customers, distributors,
franchisees, competitors, and advisors to the Company, about the Company and
its subsidiaries and affiliates, and its and their directors, officers or
employees, or the business strategy, plans, policies, practices or operations
of the Company and its subsidiaries and affiliates.  The Company shall instruct
the directors and board elected officers of the Company not to, directly or
indirectly, make or cause to be made any disparaging, derogatory, misleading or
false statement, orally or in writing, to any person or entity about you. 
Notwithstanding the foregoing provisions of this paragraph, the Company and you
may each confer in confidence with their own respective legal counsel and,
except for attorney-client privileged matters, nothing herein shall prevent
either party from responding truthfully to any information requests or
questions posed in any formal or informal legal, regulatory, administrative or
investigative proceedings involving any court, tribunal or governmental body or
agency or otherwise required by law.

During
the active employment period, the inactive employment period and for a one (1)
year period following your May 31, 2008 retirement date or earlier
separation date, you further agree that, without my or my designee’s prior
express written consent, you will not, directly or indirectly, hire away nor
participate or assist in the hiring away of any person employed by or acting as
a representative or agent of the Company or its subsidiaries or affiliates on
or within six months preceding your May 31, 2008 retirement date or
earlier separation date and you will not solicit nor encourage any person
employed by or acting as a representative or agent of the Company or its
subsidiaries or affiliates on or after your May 31, 2008 retirement date
or earlier separation date to leave the employ of the Company or its
subsidiaries or affiliates.

During
the active employment period, the inactive employment period and for a one (1)
year period following your May 31, 2008 retirement date or earlier
separation date, you also agree that you will not, directly or indirectly,
attempt in any manner to solicit and/or otherwise persuade or induce any person
or entity who is or has been during the two (2) year period prior to the date
of this letter agreement a customer, distributor, franchisee or supplier of the
Company or its subsidiaries or affiliates to cease to do business with or
cancel its business with the Company or its subsidiaries or affiliates, to
reduce the amount of its business which any such customer, distributor,
franchisee or supplier or former customer, 

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distributor,
franchisee or supplier has customarily done or contemplated doing with the
Company and its subsidiaries and affiliates or to refrain from increasing the
amount of business with the Company and its subsidiaries and affiliates.

You
acknowledge and agree that if during the active employment period, the inactive
employment period or for a one (1) year period following your May 31, 2008
retirement date or earlier separation date, you accept employment as an
attorney or manager or consult in any capacity with any of the following named
entities, the Company’s obligations to commence and/or continue payment of the
special retirement payment portion of the Retirement Benefits described in
Paragraph 3 herein shall forever cease:  AutoZone, Inc., Cornwell Tools,
SPX Corporation, the tools business of The Stanley Works (including but not
limited to MAC Tools), the tools business of Danaher Corporation (including but
not limited to Matco Tools), Hatala Systems Group, Hyundai Engineering, Alltrades
Tools, LLC, Ingersoll-Rand Ltd., Hunter Engineering Group, and Medco.

You
further agree from and after your May 31, 2008 retirement date or earlier
separation date to make yourself available to the Company and its legal counsel
to provide reasonable cooperation and assistance to the Company with respect to
areas and matters in which you were involved during your employment, including
any threatened or actual investigation and/or litigation or regulatory matter
concerning the Company, and to provide to the Company, if requested,
information relating to ongoing matters of interest to the Company.  The
Company will, of course, take into consideration your personal and business
commitments, will give you as much advance notice as reasonably possible, and
ask that you be available at such time or times as are reasonably convenient to
you and the Company.  The Company agrees to reimburse you for the actual
out-of-pocket expenses you incur as a result of your complying with this
provision, subject to your submission to the Company of documentation
substantiating such expenses as the Company may require.

Proprietary
information, confidential business information and trade secrets (hereinafter
collectively “Confidential Information”)
which became known to you as an employee of the Company remains the property of
the Company.  Such Confidential Information includes, but is not limited
to, materials, records, books, products, business plans, formulas, processes,
machines, inventions, ideas, business proposals, software, personnel
information and data and data compilations of the Company and its subsidiaries
and affiliates and its customers, distributors and franchisees, but excludes
information which is generally known to the public or becomes known except
through your unauthorized actions.  You agree from and after today that,
except as may be required or directed by the Company prior to your May 31,
2008 retirement date or earlier separation date or as the Company may direct in
writing thereafter, you will not at any time, directly or 

 9
 

indirectly,
disclose Confidential Information to any third party or otherwise use such
Confidential Information for your own benefit or the benefit of others.

You
acknowledge that the provisions of this Paragraph 6 are reasonable and not unduly
restrictive of your rights as an individual and you warrant that as of the date
you sign this letter agreement you have not breached any of the provisions of
this Paragraph 6.  You further acknowledge that in the event that you
breach any of the provisions of this Paragraph 6, such breach will result in
immediate and irreparable harm to the business and goodwill of the Company and
that damages, if any, and remedies at law for such breach would be
inadequate.  In the event of any breach of this letter agreement by you,
including this Paragraph 6, the Company shall be entitled to apply without bond
to any court of competent jurisdiction for an injunction to restrain any breach
of this letter agreement by you and for such further relief at law or in equity,
including specific performance, as the court may deem just and proper.

7.             General
Matters

You
acknowledge that as of the date you sign this letter agreement you are not
aware of any breach by the Company or its subsidiaries or affiliates or any of
its or their officers or directors of any law, rule or regulation or of any
policy of the Company or its subsidiaries or affiliates (including any
applicable code of conduct) which could have a material effect on the Company
or its subsidiaries or affiliates.

Except
as required by law, you agree not to aid in, voluntarily assist in, or
encourage the pursuit of litigation or any other form of legal or
administrative proceeding against the Company or its subsidiaries or affiliates
by any person or entity.  In the event that you are required to divulge or
disclose any Confidential Information pursuant to a subpoena or court order,
you agree to provide written notice of such legal process to the Company’s
Chief Executive Officer within three (3) business days of your receipt of such
legal process.  You further agree that at no time shall you accept any
payment, other than statutory witness fees, to testify in any legal proceeding,
arbitration or other administrative proceeding against the Company or its
subsidiaries or affiliates and its and their officers, directors, and
employees.

You
acknowledge and agree that in signing this letter agreement (including
Attachments I and II) you do not rely and have not relied on any representation
or statement by the Company or by its employees, agents, representatives, or
attorneys with regard to the subject matter, basis or effect of the letter
agreement (including Attachments I and II).

This
letter agreement is deemed made and entered into in the State of Wisconsin, and
in all respects shall be interpreted, enforced and governed under the laws of
the State of Wisconsin, without given effect to its choice of laws provisions,
to the 

 10
 

extent
not preempted by federal law.  Any dispute under this letter agreement
(including Attachments I and II) shall be adjudicated by a court of competent
jurisdiction in the State of Wisconsin.

The
language of all parts of this letter agreement (including Attachments I and II)
shall in all cases be construed as a whole, according to its fair meaning, and
not strictly for or against either party.  The provisions of this letter
agreement (including Attachments I and II) shall survive any termination of
this letter agreement when necessary to effect the intent and terms of this
letter agreement (including Attachments I and II) expressed herein.

If
any of the provisions of this letter agreement (including Attachments I and II)
shall be held to be invalid by a court of competent jurisdiction, such holding
shall not in any way whatsoever affect the validity of the remainder of this
letter agreement (including Attachments I and II).

This
letter agreement contains the entire agreement between you and the Company with
respect to the matter of your employment and retirement from employment and
supersedes any prior written or verbal agreements, including, but not limited
to, your September 18, 1990 original letter agreement, pertaining to such
matter.  No modification of any provision of this letter agreement
(including Attachments I and II) shall be effective unless made in writing and
signed by you and by me or my designee.  This letter agreement (including
Attachments I and II) shall not be assignable by you.

Should
you require further clarification of any aspect of the above arrangements, or
wish to discuss their implementation, please contact me.

Please
indicate your agreement and acceptance of these provisions by signing and
dating the enclosed copy of this letter agreement and returning it to me not
later than August 31, 2007.  Following your acceptance, the arrangements
will be implemented and administered as described herein.

So
that there is no misunderstanding, please understand that if for any reason I
do not receive the signed copy of this letter agreement from you by
August 31, 2007, the proposed arrangements described in this letter
agreement will be deemed to be withdrawn.  Also, please note that the
signed Waiver and Release Agreement attached hereto as Attachment I must be
received by me on or within five (5) days after the last day of the active
employment period, but not before that date.

 11
 

Best
wishes for success in your future endeavors.

	
  

  	
  Sincerely yours,

  
	
   

  	
   

  
	
   

  	
  SNAP-ON INCORPORATED

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By 

  	
  /s/ Jack D. Michaels

  	
   

  
	
   

  	
  Jack D. Michaels

  
	
   

  	
  Chairman & CEO

  
					

 

	
  cc:       Iain
  Boyd

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  AGREED AND ACCEPTED:

  	
   

  
	
   

  	
   

  
	
  /s/ Susan F. Marrinan

  	
   

  
	
  Susan F. Marrinan

  	
   

  
	
   

  	
   

  
	
  August 31, 2007

  	
   

  
	
  Date

  	
   

  
			

 

 12

ATTACHMENT I

SNAP-ON INCORPORATED

WAIVER AND RELEASE AGREEMENT

(1)           General Release.  In consideration
for the inactive employment period arrangement and the compensation payable and
benefits available to me under the terms of Paragraph 2 of Jack D. Michaels’
REVISED August 2, 2007 letter to me (hereinafter referred to as the “letter agreement”), I, on behalf of myself
and my heirs, executors, administrators, attorneys and assigns, hereby waive,
release and forever discharge SNAP-ON
INCORPORATED (hereinafter referred to as the “Company”) and the Company’s subsidiaries,
divisions and affiliates, whether direct or indirect, its and their joint
ventures and joint venturers (including its and their respective directors,
officers, employees, shareholders, partners and agents, past, present, and
future), and each of its and their respective successors and assigns
(hereinafter collectively referred to as “Releasees”),
from any and all known or unknown actions, causes of action, claims or
liabilities of any kind which have or could be asserted against the Releasees
arising out of or related to my employment with the Company and/or any of the
other Releasees and/or any other occurrence up to and including the date of
this Waiver and Release Agreement, including but not limited to:

(a)                                  claims, actions, causes of action or
liabilities arising under Title VII of the Civil Rights Act, as amended, the
Age Discrimination in Employment Act, as amended (“ADEA”), the Employee Retirement Income Security Act, as
amended, the Rehabilitation Act, as amended, the Americans with Disabilities
Act, as amended, the Family and Medical Leave Act, as amended, Wisconsin’s Fair
Employment Laws, as amended, and/or any other federal, state, municipal, or
local employment discrimination statutes (including, but not limited to, claims
based on age, sex, attainment of benefit plan rights, race, religion, national
origin, marital status, sexual orientation, ancestry, harassment, parental
status, handicap, disability, retaliation, and veteran status); and/or

(b)                                 claims, actions, causes of action or
liabilities arising under any other federal, state, municipal, or local
statute, law, ordinance or regulation; and/or

(c)                                  any other claim whatsoever including, but not
limited to, claims for bonus payments, claims for severance pay under any
agreement and/or voluntary or involuntary severance/separation plan, policy or
program maintained by the Releasees, claims based upon breach of contract,
wrongful termination, defamation, intentional infliction of emotional distress,
tort, personal injury, invasion of privacy, violation of public policy,
negligence and/or any other common law, statutory or other claim whatsoever
arising out of or relating to my employment with the Company and/or any of the
other Releasees,

but
excluding the filing of an administrative charge of age discrimination, any
claims which I may make under state workers’ compensation or unemployment laws,
any claims to enforce the letter agreement, any vested benefits rights which I
may have, any rights to indemnification which I may have as an employee of the
Company, and/or any claims which by law I cannot waive.

(2)           Covenant Not To Sue.  In addition
to and apart from the General Release contained in paragraph 1 above, I also
agree never to sue any of the Releasees or become a party to a lawsuit on the
basis of any claim of any type whatsoever arising out of or related to my
employment with the Company and/or any of the other Releasees, other than a
lawsuit to challenge this Waiver and Release Agreement under the ADEA or to
enforce the letter agreement.

(3)           Consequences Of Breach Of Covenant Not To Sue. 
I further acknowledge and agree in the event that I breach the provisions of
paragraph (2) above, (a) the Company shall be entitled to apply for and receive
an injunction to restrain any violation of paragraph (2) above, (b) the Company
shall not be obligated to continue the inactive employment period arrangement
with me nor continue the compensation payable and benefits available during
such period, (c) I shall be obligated to pay to the Company its costs and
expenses in enforcing this Waiver and Release Agreement and defending against
such lawsuit (including court costs, expenses and reasonable legal fees), and
(d) as an alternative to (c), at the Company’s option, I shall be obligated
upon demand to repay to the Company all but $1,000.00 of the compensation paid
to me and the costs of the benefits provided to me during the inactive
employment period, and the foregoing shall not affect the validity of this
Waiver and Release Agreement and shall not be deemed to be a penalty nor a
forfeiture.

(4)           Further Release And Acknowledgement. 
To the extent permitted by law, I further waive my right to any monetary
recovery should any federal, state, or local administrative agency pursue any
claims on my behalf arising out of or related to my employment with the Company
and/or any of the other Releasees.  I also acknowledge that I have not
suffered any on-the-job injury for which I have not already filed a claim.

(5)           No Further Employment.  To the
extent permitted by law, I further waive, release, and discharge Releasees from
any reinstatement rights which I have or could have.  I further
acknowledge and agree that I will not seek employment with the Company and/or
any other of the Releasees following my May 31, 2008 retirement date or
earlier separation date from employment.

(6)           Non-Disparagement.  I promise that
I shall not at any time or in any way disparage the Company and/or any of the
other Releasees to any person, corporation, entity or other third party
whatsoever.

(7)           Consequences Of Other Breach.  I
further agree that if I breach the Confidentiality/Cooperation/Covenants
provisions of Paragraph 6 of the letter agreement or the provisions of
paragraphs (5) and/or (6) above, then (a) the Company will be subject to
irreparable injury and shall be entitled to apply without bond for an 

 2
 

injunction
to restrain such breach and for such further relief as the court may deem just
and proper, (b) the Company shall not be obligated to continue the inactive
employment period arrangement with me nor continue the compensation payable and
benefits available during such period, and (c) I shall be obligated to pay to
the Company its costs and expenses in enforcing the Confidentiality/Cooperation/Covenants
provisions of  Paragraph 6 of the letter agreement and the provisions of
paragraphs (5) and (6) above (including court costs, expenses and reasonable
legal fees).

(8)           Time To Consider Agreement.  I
acknowledge that I have been given at least twenty-one day (21) days to
consider this Waiver and Release Agreement thoroughly.

(9)           Attorney Consultation.  I
acknowledge that I have been advised in writing to consult with an attorney at
my own expense, if desired, prior to signing this Waiver and Release Agreement.

(10)         Time To Revoke Agreement.  I
understand that I may revoke this Waiver and Release Agreement within seven (7)
days after its signing and that any revocation must be made in writing and
submitted within such seven day period to Iain Boyd, Vice President — Human
Resources.  I further understand that if I revoke this Waiver and Release
Agreement, I shall not be eligible for the inactive employment period
arrangement nor the compensation and benefits payable or available pursuant to
that arrangement.

(11)         Consideration For Agreement.  I
also understand that the compensation payable and benefits available to me
pursuant to the inactive employment period arrangement which are in exchange
for signing and not later revoking this Waiver and Release Agreement are in
addition to anything of value to which I am already entitled.

(12)         RELEASE OF UNKNOWN CLAIMS.  I
FURTHER UNDERSTAND THAT THIS WAIVER AND RELEASE AGREEMENT INCLUDES A RELEASE OF
ALL KNOWN AND UNKNOWN CLAIMS.

(13)         Severability.  I acknowledge and
agree that if any provision of this Waiver and Release Agreement is found, held
or deemed by a court of competent jurisdiction to be void, unlawful or
unenforceable under any applicable statute or controlling law, the remainder of
this Waiver and Release Agreement shall continue in full force and effect.

(14)         Governing Law.  This Waiver and
Release Agreement is deemed made and entered into in the State of Wisconsin,
and in all respects shall be interpreted, enforced and governed under
applicable federal law and in the event reference shall be made to State law
the internal laws of the State of Wisconsin shall apply, without reference to
its conflict of law provisions.  Any dispute under this Waiver and Release
Agreement shall be adjudicated by a court of competent jurisdiction in the
State of Wisconsin.

 3
 

(15)         Knowing And Voluntary Waiver And Release. 
I further acknowledge and agree that I have carefully read and fully understand
all of the provisions of this Waiver and Release Agreement and that I
voluntarily enter into this Waiver and Release Agreement by signing below.

 

	
  

  	
   

  
	
   

  	
  Susan F.
  Marrinan

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  (Date)

  

 

 4

ATTACHMENT II

SNAP-ON INCORPORATED

WAIVER AND RELEASE AGREEMENT

(1)           General Release.  In consideration
for the Retirement Benefits payable to me under the terms of Paragraph 3 of
Jack D. Michaels’ REVISED August 2, 2007 letter to me (hereinafter
referred to as the “letter agreement”),
I, on behalf of myself and my heirs, executors, administrators, attorneys and
assigns, hereby waive, release and forever discharge SNAP-ON INCORPORATED (hereinafter referred to as the “Company”) and the Company’s subsidiaries,
divisions and affiliates, whether direct or indirect, its and their joint
ventures and joint venturers (including its and their respective directors,
officers, employees, shareholders, partners and agents, past, present, and
future), and each of its and their respective successors and assigns
(hereinafter collectively referred to as “Releasees”),
from any and all known or unknown actions, causes of action, claims or
liabilities of any kind which have or could be asserted against the Releasees
arising out of or related to my employment with and/or retirement from
employment with the Company and/or any of the other Releasees and/or any other
occurrence up to and including the date of this Waiver and Release Agreement,
including but not limited to:

(a)                                  claims, actions, causes of action or
liabilities arising under Title VII of the Civil Rights Act, as amended, the
Age Discrimination in Employment Act, as amended (“ADEA”), the Employee Retirement Income Security Act, as
amended, the Rehabilitation Act, as amended, the Americans with Disabilities
Act, as amended, the Family and Medical Leave Act, as amended, Wisconsin’s Fair
Employment Laws, as amended, and/or any other federal, state, municipal, or
local employment discrimination statutes (including, but not limited to, claims
based on age, sex, attainment of benefit plan rights, race, religion, national
origin, marital status, sexual orientation, ancestry, harassment, parental
status, handicap, disability, retaliation, and veteran status); and/or

(b)                                 claims, actions, causes of action or
liabilities arising under any other federal, state, municipal, or local
statute, law, ordinance or regulation; and/or

(c)                                  any other claim whatsoever including, but not
limited to, claims for bonus payments, claims for severance pay under any
agreement and/or voluntary or involuntary severance/separation plan, policy or
program maintained by the Releasees, claims based upon breach of contract,
wrongful termination, defamation, intentional infliction of emotional distress,
tort, personal injury, invasion of privacy, violation of public policy,
negligence and/or any other common law, statutory or other claim whatsoever
arising out of or relating to my employment with and/or retirement from
employment with the Company and/or any of the other Releasees,

but
excluding the filing of an administrative charge of age discrimination, any
claims which I may make under state workers’ compensation or unemployment laws,
any claims to enforce the letter agreement, any vested benefits rights which I may
have, any rights to indemnification which I may have as a former employee of
the Company, and/or any claims which by law I cannot waive.

(2)           Covenant Not To Sue.  In addition
to and apart from the General Release contained in paragraph 1 above, I also agree
never to sue any of the Releasees or become a party to a lawsuit on the basis
of any claim of any type whatsoever arising out of or related to my employment
with and/or retirement from employment with the Company and/or any of the other
Releasees, other than a lawsuit to challenge this Waiver and Release Agreement
under the ADEA or to enforce the letter agreement.

(3)           Consequences Of Breach Of Covenant Not To Sue. 
I further acknowledge and agree in the event that I breach the provisions of
paragraph (2) above, (a) the Company shall be entitled to apply for and receive
an injunction to restrain any violation of paragraph (2) above, (b) the Company
shall not be obligated to pay the Retirement Benefits to me, (c) I shall be
obligated to pay to the Company its costs and expenses in enforcing this Waiver
and Release Agreement and defending against such lawsuit (including court
costs, expenses and reasonable legal fees), and (d) as an alternative to (c),
at the Company’s option, I shall be obligated upon demand to repay to the
Company all but $1,000.00 of the Retirement Benefits paid to me, and the
foregoing shall not affect the validity of this Waiver and Release Agreement
and shall not be deemed to be a penalty nor a forfeiture.

(4)           Further Release And Acknowledgement. 
To the extent permitted by law, I further waive my right to any monetary
recovery should any federal, state, or local administrative agency pursue any
claims on my behalf arising out of or related to my employment with and/or
retirement from employment with the Company and/or any of the other
Releasees.  I also acknowledge that I have not suffered any on-the-job
injury for which I have not already filed a claim.

(5)           No Further Employment.  To the
extent permitted by law, I further waive, release, and discharge Releasees from
any reinstatement rights which I have or could have.  I further
acknowledge and agree that I will not seek employment with the Company and/or
any other of the Releasees following the date of my retirement from employment.

(6)           Non-Disparagement.  I promise that
I shall not at any time or in any way disparage the Company and/or any of the
other Releasees to any person, corporation, entity or other third party
whatsoever.

 2
 

(7)           Consequences Of Other Breach.  I
further agree that if I breach the Confidentiality/Cooperation/Covenants
provisions of Paragraph 6 of the letter agreement or the provisions of
paragraphs (5) and/or (6) above, then (a) the Company will be subject to
irreparable injury and shall be entitled to apply without bond for an
injunction to restrain such breach and for such further relief as the court may
deem just and proper, (b) the Company shall not be obligated to make payment of
the Retirement Benefits to me, and (c) I shall be obligated to pay to the
Company its costs and expenses in enforcing the
Confidentiality/Cooperation/Covenants provisions of Paragraph 6 of the letter
agreement and the provisions of paragraphs (5) and (6) above (including court
costs, expenses and reasonable legal fees).

(8)           Time To Consider Agreement.  I
acknowledge that I have been given at least twenty-one day (21) days to
consider this Waiver and Release Agreement thoroughly.

(9)           Attorney Consultation.  I
acknowledge that I have been advised in writing to consult with an attorney at
my own expense, if desired, prior to signing this Waiver and Release Agreement.

(10)         Time To Revoke Agreement.  I
understand that I may revoke this Waiver and Release Agreement within seven (7)
days after its signing and that any revocation must be made in writing and
submitted within such seven day period to Iain Boyd, Vice President — Human
Resources.  I further understand that if I revoke this Waiver and Release
Agreement, I shall not receive the Retirement Benefits.

(11)         Consideration For Agreement.  I also
understand that the Retirement Benefits which I will receive in exchange for
signing and not later revoking this Waiver and Release Agreement are in
addition to anything of value to which I am already entitled.

(12)         RELEASE OF UNKNOWN CLAIMS.  I
FURTHER UNDERSTAND THAT THIS WAIVER AND RELEASE AGREEMENT INCLUDES A RELEASE OF
ALL KNOWN AND UNKNOWN CLAIMS.

(13)         Severability.  I acknowledge and
agree that if any provision of this Waiver and Release Agreement is found, held
or deemed by a court of competent jurisdiction to be void, unlawful or
unenforceable under any applicable statute or controlling law, the remainder of
this Waiver and Release Agreement shall continue in full force and effect.

(14)         Governing Law.  This Waiver and
Release Agreement is deemed made and entered into in the State of Wisconsin,
and in all respects shall be interpreted, enforced and governed under
applicable federal law and in the event reference shall be made to State law
the internal laws of the State of Wisconsin shall apply, without reference to
its conflict of law provisions.  Any dispute under this Waiver and Release
Agreement shall be adjudicated by a court of competent jurisdiction in the
State of Wisconsin.

 3
 

(15)         Knowing And Voluntary Waiver And Release. 
I further acknowledge and agree that I have carefully read and fully understand
all of the provisions of this Waiver and Release Agreement and that I
voluntarily enter into this Waiver and Release Agreement by signing below.

 

	
  

  	
   

  
	
   

  	
  Susan F.
  Marrinan

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  (Date)

  

 

 4

EXHIBIT 1

Exhibit 1:  Summary of Current Health Plan Provisions*

	
  

  	
   

  	
  Current Plan:
  PPO

  	
   

  	
  Retiree Plan A

  	
   

  	
  Retiree Plan B

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
    Monthly
  Premium

  	
   

  	
    $420

  	
   

  	
    $882

  	
   

  	
    $556

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
    Premiums
  Paid by 
   Company

  	
   

  	
    Up to 18
  months

  	
   

  	
    To Age 65

  	
   

  	
    To Age 65

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
    When to
  Enroll

  	
   

  	
    June 1, 2008
  — July 31,
   2008

  	
   

  	
    December 1,
  2009 — 
   December 31, 2009

  	
   

  	
    December 1,
  2009 — 
   December 31, 2009

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
    When
  Coverage Ends

  	
   

  	
    Earlier of
  18 months 
   (Nov.  30, 2009) or 
   eligible for employer-
   sponsored coverage

  	
   

  	
    Age 65 (then
  eligible to
   enroll in The Hartford 
   medicare-supplement
   plan)

  	
   

  	
    Age 65 (then
  eligible to 
   enroll in The Hartford 
   medicare-supplement 
   plan)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
    Annual
  Deductible 
   In-network/out-of-
   network

  	
   

  	
    $500/$1,000

  	
   

  	
    $250/$350

  	
   

  	
    $1,000/$2,000

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
    Medical
  Co-insurance 
   In-network/out-of-
   network

  	
   

  	
    20%/40%

  	
   

  	
    10%/30%

  	
   

  	
    20%/40%

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
    Medical
  Out-of-pocket 
   annual maximum 
   In-network/out-of-
   network

  	
   

  	
    $2,000/$4,000

  	
   

  	
    $1,000/$2,000

  	
   

  	
    $3,000/$6,000

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
    Office Visit
  Co-pay In-
   network Primary 
   Care/In-network 
   Specialist/Out-of-
   network

  	
   

  	
    $25/$40/40%

  	
   

  	
    $20/$35/30%

  	
   

  	
    Treat as any
  other
   medical expense 
   (subject to annual 
   deductible, then co-
   insurance)

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
    Routine
  Preventive Care

  	
   

  	
    100%
  unlimited

  	
   

  	
    $20/$35
  co-pay in-
   network to $400/yr

  	
   

  	
    $20/$35
  co-pay in-
   network to $400/yr

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
    Emergency
  Room

  	
   

  	
    $100 co-pay

  	
   

  	
    $100 co-pay

  	
   

  	
    $100 co-pay

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
    Prescriptions
  Co-
   insurance

  	
   

  	
    20%
  co-insurance 
   subject to Min/Max

  	
   

  	
    20%
  co-insurance 
   subject to Min/Max

  	
   

  	
    20% after
  $250 annual 
   deductible; co-insurance 
   subject to Min/Max

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
    Rx
  Minimum/script

  	
   

  	
    Retail:
  $10/25/40 
   Mail: $20/50/80

  	
   

  	
    Retail:
  $10/25/40 
   Mail: $20/50/80

  	
   

  	
    Retail:
  $10/35/50 
   Mail: $20/70/100

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
    Rx:
  Maximum/script

  	
   

  	
    Retail:
  $50/100/150
   Mail: $100/200/300

  	
   

  	
    Retail:
  $50/100/150
   Mail: $100/200/300

  	
   

  	
    Retail:
  $50/140/200 
   Mail: $100/280/400

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
    Lifetime
  Maximum

  	
   

  	
    $2,000,000

  	
   

  	
    $500,000;
  start new from
   enrollment

  	
   

  	
    $500,000
  start new from 
   enrollment

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
    Dental

  	
   

  	
    $30

  	
   

  	
    Not
  available to Retirees; COBRA for 18 months

  
	
    Vision

  	
   

  	
    $11

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
    Retiree
  Reimbursement 
   Account (RRA)

  	
   

  	
    Effective
  June 1, 2008; 
   can use for 
   reimbursement of out-
   of-pocket expenses

  	
   

  	
    Effective
  June 1, 2008; can use for reimbursement
   of monthly premiums and/or out-of-pocket
  expenses

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
    RRA Balance
  at June 1,
   2008

  	
   

  	
    Approximately
  $32,500

  	
   

  	
    Unused
  balance at each Dec. 31 earns 6% interest

  

	
  *

  	
  Current plan provisions (2007).  All of the
  terms and conditions of the Company sponsored medical and/or dental
  plans, as amended from time to time, shall be applicable to you (and your
  eligible dependents, if applicable) participating in any form of continuation
  coverage under the Company sponsored medical and/or dental plans.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]