Document:

ex10bbb.htm

    

    Exhibit
      10-bbb

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    BELLSOUTH

    COMPENSATION
      DEFERRAL
      PLAN

    (As
      Amended and Restated Effective as
      of January 1, 2005)

    

    

    

    
      
        
                

                    58149v19      
    

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    BELLSOUTH
      COMPENSATION DEFERRAL
      PLAN

    (As
      Amended and Restated Effective as
      of January 1, 2005)

    

    

    TABLE
      OF CONTENTS

    

    
      	
              BACKGROUND
                AND PURPOSE

            	
              1

            
	 	 	 
	
              ARTICLE
                I – DEFINITIONS

            	
              2

            
	 	 	 
	
              1.1

            	
              “Account”

            	
              2

            
	 	 	 
	
              1.2

            	
              “Affiliate”

            	
              2

            
	 	 	 
	
              1.3

            	
              “Base
                Salary”

            	
              2

            
	 	 	 
	
              1.4

            	
              “BellSouth”

            	
              2

            
	 	 	 
	
              1.5

            	
              “Beneficiary”

            	
              2

            
	 	 	 
	
              1.6

            	
              “Board”

            	
              2

            
	 	 	 
	
              1.7

            	
              “Business
                Day”

            	
              2

            
	 	 	 
	
              1.8

            	
              “Code”

            	
              2

            
	 	 	 
	
              1.9

            	
              “Company
                Stock”

            	
              2

            
	 	 	 
	
              1.10

            	
              “Compensation”

            	
              3

            
	 	 	 
	
              1.11

            	
              “Credited
                Interest Rate”

            	
              3

            
	 	 	 
	
              1.12

            	
              “Deferral
                Contributions”

            	
              3

            
	 	 	 
	
              1.13

            	
              “Deferral
                Election”

            	
              3

            
	 	 	 
	
              1.14

            	
              “Effective
                Date”

            	
              3

            
	 	 	 
	
              1.15

            	
              “Election
                Deadline”

            	
              3

            
	 	 	 
	
              1.16

            	
              “Election
                Package”

            	
              3

            
	 	 	 
	
              1.17

            	
              “Eligible
                Employee”

            	
              3

            
	 	 	 
	
              1.18

            	
              “ERISA”

            	
              4

            

    

     

    58149.19

    
      
        i

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	 	 	 
	
              1.19

            	
              “Interest
                Income Option”

            	
              4

            
	 	 	 
	
              1.20

            	
              “Interest
                Income Subaccount”

            	
              4

            
	 	 	 
	
              1.21

            	
              “Investment
                Election”

            	
              4

            
	 	 	 
	
              1.22

            	
              “Investment
                Options”

            	
              4

            
	 	 	 
	
              1.23

            	
              “Merger”

            	
              4

            
	 	 	 
	
              1.24

            	
              “Participant”

            	
              4

            

    

    
      	 	 	 
	
              1.25

            	
              “Participating
                Company”

            	
              4

            
	 	 	 
	
              1.26

            	
              “Plan”

            	
               4

            
	 	 	 
	
              1.27

            	
              “Plan
                Administrator”

            	
              4

            
	 	 	 
	
              1.28

            	
              “Plan
                Year”

            	
              5

            
	 	 	 
	
              1.29

            	
              “Rabbi
                Trust Agreements”

            	
              5

            
	 	 	 
	
              1.30

            	
              “Section
                409A”

            	
              5

            
	 	 	 
	
              1.31

            	
              “Senior
                Manager”

            	
              5

            
	 	 	 
	
              1.32

            	
              “Short
                Term Bonus Plan”

            	
              5

            
	 	 	 
	
              1.33

            	
              “Stock
                Unit”

            	
              5

            
	 	 	 
	
              1.34

            	
              “Stock
                Unit Option”

            	
              5

            
	 	 	 
	
              1.35

            	
              “Stock
                Unit Subaccount”

            	
              5

            
	 	 	 
	
              1.36

            	
              “Valuation
                Date”

            	
              5

            
	 	 	 
	
              ARTICLE
                II – ELIGIBILITY AND PARTICIPATION

            	
              6

            
	 	 	 
	
              2.1

            	
              Annual
                Participation

            	
              6

            
	 	 	 
	
              2.2

            	
              Election
                Procedures

            	
              6

            
	 	 	 
	
              2.3

            	
              Cessation
                of Eligibility

            	
              6

            
	 	 	 
	
              2.4

            	
              Limitations
                on New Elections

            	
              6

            

    

     

    58149.19

    

    
      
        
          
            ii

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    
      	
              ARTICLE
                III – PARTICIPANTS’ ACCOUNTS; DEFERRAL CONTRIBUTIONS

            	
              7

            
	 	 	 	 
	
              3.1

            	
              Participants’
                Accounts

            	
              7

            
	 	
              (a)

            	
              Establishment
                of Accounts

            	
              7

            
	 	
              (b)

            	
              Nature
                of Contributions and Accounts

            	
              7

            
	 	
              (c)

            	
              Several
                Liabilities

            	
              7

            
	 	
              (d)

            	
              General
                Creditors

            	
              7

            
	 	 	 	 
	
              3.2

            	
              Deferral
                Contributions

            	
              7

            
	 	
              (a)

            	
              Effective
                Date

            	
              7

            
	 	
              (b)

            	
              Term

            	
              8

            
	 	
              (c)

            	
              Deferral
                Election Amount

            	
              8

            
	 	
              (d)

            	
              Revocation

            	
              8

            
	 	
              (e)

            	
              Crediting
                of Deferred Compensation

            	
              8

            
	 	 	 	 
	
              3.3

            	
              Deferral
                Elections and Multiple Participating Companies

            	
              8

            
	 	 	 	 
	
              3.4

            	
              Vesting

            	
              9

            
	 	 	 	 
	
              3.5

            	
              Debiting
                of Distributions

            	
              9

            
	 	 	 	 
	
              ARTICLE
                IV - DETERMINATION AND CREDITING OF INVESTMENT RETURN

            	
              10

            
	 	 	 	 
	
              4.1

            	
              General
                Investment Parameters

            	
              10

            
	 	 	 	 
	
              4.2

            	
              Participant
                Direction of Deemed Investments

            	
              10

            
	 	
              (a)

            	
              Nature
                of Participant Direction

            	
              10

            
	 	
              (b)

            	
              Investment
                of Contributions

            	
              10

            
	 	
              (c)

            	
              Investment
                of Existing Account Balances

            	
              10

            
	 	
              (d)

            	
              Investment
                Subaccounts

            	
              10

            
	 	 	 	 
	
              4.3

            	
              Stock
                Unit Option

            	
              11

            
	 	
              (a)

            	
              Stock
                Unit Subaccount

            	
              11

            
	 	
              (b)

            	
              Cash
                Dividends

            	
              11

            
	 	
              (c)

            	
              Adjustments

            	
              11

            
	 	 	 	 
	
              4.4

            	
              Interest
                Income Option

            	
              12

            
	 	
              (a)

            	
              Interest
                Income Subaccount

            	
              12

            
	 	
              (b)

            	
              Crediting
                of Deemed Interest

            	
              12

            
	 	 	
              (i)   Amount
                Invested

            	
              12

            
	 	 	
              (ii)  Determination
                of Amount

            	
              12

            
	 	 	 	 
	
              4.5

            	
              Good
                Faith Valuation Binding

            	
              12

            
	 	 	 	 
	
              4.6

            	
              Errors
                and Omissions in Accounts

            	
              12

            

    

     

     

    58149.19

    
      
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              ARTICLE
                V - PAYMENT OF ACCOUNT BALANCES

            	
              13

            
	 	 	 	 
	
              5.1

            	
              Benefit
                Amounts

            	
              13

            
	 	
              (a)

            	
              Benefit
                Entitlement

            	
              13

            
	 	
              (b)

            	
              Valuation
                of Benefit

            	
              13

            
	 	
              (c)

            	
              Conversion
                of Stock Units into Dollars

            	
              13

            
	 	 	 	 
	
              5.2

            	
              Elections
                of Timing and Form

            	
              13

            
	 	
              (a)

            	
              Timing

            	
              13

            
	 	
              (b)

            	
              Form
                of Distribution

            	
              13

            
	 	
              (c)

            	
              Multiple
                Selections

            	
              14

            
	 	 	 	 
	
              5.3

            	
              Benefit
                Payments to a Participant

            	
              14

            
	 	
              (a)

            	
              Timing

            	
              14

            
	 	
              (b)

            	
              Form
                of Distribution

            	
              14

            
	 	
              (c)

            	
              Valuation
                of Single Lump-Sum Payments

            	
              14

            
	 	
              (d)

            	
              Valuation
                of Installment Payments

            	
              14

            
	 	
              (e)

            	
              One-Time
                Modification of Certain Elections

            	
              14

            
	 	
              (f)

            	
              Distributions
                to Section 409A Specified Employees

            	
              15

            
	 	 	 	
               

            
	
              5.4

            	
              Death
                Benefits

            	
              15

            
	 	
              (a)

            	
              General

            	
              15

            
	 	
              (b)

            	
              Valuation

            	
              15

            
	 	 	 	
               

            
	
              5.5

            	
              Beneficiary
                Designation

            	
              15

            
	 	
              (a)

            	
              General

            	
              15

            
	 	
              (b)

            	
              No
                Designation or Designee Dead or Missing

            	
              16

            
	 	
              (c)

            	
              Death
                of Beneficiary

            	
              16

            
	 	 	 	 
	
              5.6

            	
              Taxes

            	 	
              16

            
	 	 	 	 
	
              ARTICLE
                VI – CLAIMS

            	
              17

            
	 	 	 	
               

            
	
              6.1

            	
              Initial
                Claim

            	
              17

            
	 	 	 	 
	
              6.2

            	
              Appeal

            	
              17

            
	 	 	 	 
	
              6.3

            	
              Satisfaction
                of Claims

            	
              17

            
	 	 	 	
               

            
	
              ARTICLE
                VII – SOURCE OF FUNDS

            	
              18

            
	 	 	 	 
	
              ARTICLE
                VIII - PLAN ADMINISTRATION

            	
              19

            
	 	 	 	 
	
              8.1

            	
              Action
                by the Plan Administrator

            	
              19

            
	 	
              (a)

            	
              Individual
                Administrator

            	
              19

            
	 	
              (b)

            	
              Administrative
                Committee

            	
              19

            

    

    

    58149.19

    
      
        
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              8.2

            	
              Rights
                and Duties of the Plan Administrator

            	
              19

            
	 	 	 	 
	
              8.3

            	
              Bond;
                Compensation

            	
              20

            
	 	 	 	
               

            
	
              8.4

            	
              Post-Merger
                Plan Administration

            	
              20

            
	 	 	 	 
	
              ARTICLE
                IX - AMENDMENT AND TERMINATION

            	
              21

            
	 	 	 	 
	
              9.1

            	
              Amendments

            	
              21

            
	 	 	 	 
	
              9.2

            	
              Termination
                of Plan

            	
              21

            
	 	 	 	 
	
              9.3

            	
              Limitation
                on Authority

            	
              21

            
	 	
              (a)

            	
              Plan
                Amendments

            	
              21

            
	 	
              (b)

            	
              Plan
                Termination

            	
              21

            
	 	
              (c)

            	
              Opinions
                of Counsel

            	
              22

            
	 	 	 	 
	
              ARTICLE
                X - MISCELLANEOUS

            	
              23

            
	 	 	 	
               

            
	
              10.1

            	
              Taxation

            	
              23

            
	 	 	 	 
	
              10.2

            	
              Withholding

            	
              23

            
	 	 	 	
               

            
	
              10.3

            	
              No
                Employment Contract

            	
              23

            
	 	 	 	 
	
              10.4

            	
              Headings

            	
              23

            
	 	 	 	 
	
              10.5

            	
              Gender
                and Number

            	
              23

            
	 	 	 	 
	
              10.6

            	
              Assignment
                of Benefits

            	
              23

            
	 	 	 	 
	
              10.7

            	
              Legally
                Incompetent

            	
              23

            
	 	 	 	 
	
              10.8

            	
              Entire
                Document

            	
              23

            
	 	 	 	 
	
              10.9

            	
              Governing
                Law

            	
              24

            
	 	 	 	 
	
              10.10

            	
              Plan
                to Comply with Code Section 409A

            	
              24

            
	 	 	 	 
	
              EXHIBIT
                A

            	
              A-1

            

    

    

    58149.19

    
      
        
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    BELLSOUTH
      COMPENSATION DEFERRAL
      PLAN

    (As
      Amended and Restated Effective as
      of January 1, 2005)

    

    

    Effective
      as of the 1st day of January,
      1997, BellSouth Corporation (“BellSouth”) established the BellSouth Compensation
      Deferral Plan (the “Plan”), and the Plan was subsequently amended from time to
      time.  The Plan is now amended and restated effective as of January 1,
      2005, and as so amended and restated is intended to comply with the requirements
      of Section 409A of the Internal Revenue Code of 1986, as amended, with respect
      to all benefits under the Plan that are subject to Section
      409A.  Also, the Plan as restated, among other things, provides that
      no further elections to defer compensation may be made under the Plan after
      December 31, 2006, and coordinates Plan administration provisions applicable
      after the planned merger of BellSouth and AT&T Inc. with provisions of
      BellSouth’s Rabbi Trust Agreements.

    

    

    BACKGROUND
      AND
      PURPOSE

    

    A.           Goal.  BellSouth
      desires to provide its designated key management employees, and those of its
      affiliated companies that participate in the Plan, with an opportunity
      (i) to defer the receipt and income taxation of a portion of such
      employees’ compensation; and (ii) to receive an investment return on those
      deferred amounts based on the return of BellSouth stock, an indexed rate of
      interest, or a combination of the two.

    

    B.           Purpose.  The
      purpose of the Plan is to set forth the terms and conditions pursuant to which
      these deferrals may be made and deemed invested and to describe the nature
      and
      extent of the employees’ rights to their deferred amounts.

    

    C.           Type
      of
      Plan.  The Plan constitutes an unfunded, nonqualified
      deferred compensation plan that benefits certain designated employees who are
      within a select group of key management or highly compensated
      employees.  Each Participating Company alone has the obligation to pay
      amounts payable under this Plan to its Plan Participants, and such payments
      are
      not an obligation of any other Participating Company.

    

    D.           No
      Deferrals after
      2006.  Notwithstanding
      anything to the contrary herein, no Deferral Elections will be permitted under
      the Plan after December 31, 2006.

    

    58149.19

    
      
        
          1       

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    ARTICLE
      I

    DEFINITIONS

    

    

    For
      purposes of the Plan, each of the
      following terms, when used with an initial capital letter, shall have the
      meaning set forth below unless a different meaning plainly is required by the
      context.

    

    1.1           “Account”
      shall mean, with respect to
      a Participant or Beneficiary, the total dollar amount or value evidenced by
      the
      last balance posted in accordance with the terms of the Plan to the account
      record established for such Participant or Beneficiary with respect to the
      Deferral Contributions of such Participant for any Plan Year.

     

    1.2           “Affiliate”
      shall mean at any time any
      corporation, joint venture or partnership in which BellSouth owns directly
      or
      indirectly, (i) with respect to a corporation, stock possessing at least ten
      percent (10%) of the total combined voting power of all classes of stock in
      the
      corporation, or (ii) in the case of a joint venture or partnership, a ten
      percent (10%) or greater interest in the capital or profits of such joint
      venture or partnership.

    

    1.3           “Base
      Salary”
      shall mean, with respect to each Eligible Employee for a specified Plan Year,
      the gross regular, periodic base salary earned by the Eligible Employee during
      such Plan Year, including any of the Eligible Employee’s own before-tax and
      after-tax contributions to, or deferrals under, any Code Section 401(k), Code
      Section 125, nonqualified deferred compensation or other employee benefit plan
      or program, maintained by a Participating Company from time to time, but
      excluding any contributions or benefits paid under any such plan or program
      by a
      Participating Company.

    

    1.4           “BellSouth”
      shall mean BellSouth
      Corporation, a Georgia corporation, or any successor entity.

    

    1.5           “Beneficiary”
      shall mean, with respect to
      a Participant, the person(s) determined in accordance with Section 5.5 to
      receive any death benefits that may be payable under the Plan upon the death
      of
      the Participant.

    

    1.6           “Board”
      shall mean the Board of
      Directors of BellSouth.

    

    1.7           “Business
      Day” shall
      mean each day on which the New York Stock Exchange operates and is open to
      the
      public for trading.

    

    1.8           “Code”
      shall mean the Internal
      Revenue Code of 1986, as amended.

    

    1.9           “Company
      Stock”
      shall mean the $1.00 par value per share voting common stock of BellSouth;
      provided that, after the Merger, “Company Stock” shall mean the $1.00 par value
      per share voting common stock of AT&T Inc.

    58149.19

    
      
        2

      

      
        
        

        
          

        

      

      
        
        
1.10      
          “Compensation”
        shall mean, for any Plan
        Year, the Participant’s annualized Base Salary rate as in effect on November 15
        preceding the beginning of the Plan Year.  Notwithstanding the
        foregoing, the Plan Administrator, in its sole discretion, may specify a
        date or
        dates other than November 15 on which a Participant’s annualized Base Salary
        rate for a Plan Year is to be determined.  For any Participant
        employed by a Participating Company whose compensation structure does not
        readily fit this definition, “Compensation” shall mean cash compensation as
        defined by the Plan Administrator.

    

     

    1.11    
          “Credited
      Interest
      Rate”
      shall mean, for each Plan Year, the rate of return equal to Moody’s Monthly
      Average of Yields of Aa Corporate Bonds, as published by Moody’s Investors
      Service, Inc., for the month of July immediately preceding such Plan
      Year.  If such rate (or any alternative rate described in this
      sentence) is at any time no longer available, the Plan Administrator shall
      designate an alternative rate which in the Plan Administrator’s reasonable
      judgment is generally comparable to the rate described in the preceding
      sentence, and such alternative rate shall thereafter be the Credited Interest
      Rate.

     

    1.12      
        “Deferral
      Contributions” shall
      mean, for each Plan
      Year, that portion of a Participant’s Base Salary deferred under the Plan
      pursuant to Section 3.2.

     

    1.13         “Deferral
      Election”
      shall mean an election form provided by the Plan Administrator on which an
      Eligible Employee may elect to defer under the Plan a portion of such Eligible
      Employee’s Base Salary.

    

    1.14         “Effective
      Date”
      shall mean January 1, 2005, the date as of which this most recent amendment
      and
      restatement of the Plan is effective, except to the extent that the Plan
      expressly provides a different effective date with respect to specific Plan
      provisions.

    

    1.15         “Election
      Deadline”
      shall mean the November 30 (or if November 30 is not a Business Day, the last
      Business Day immediately preceding November 30) immediately preceding the first
      day of a Plan Year.  Notwithstanding the foregoing, with the approval
      of the Plan Administrator, “Election Deadline” may mean the December 31 (or if
      December 31 is not a Business Day, the last Business Day immediately preceding
      December 31) immediately preceding the first day of such Plan Year.

    

    1.16         “Election
      Package”
      shall mean a package consisting of a Deferral Election, an Investment Election
      and such other forms and documents distributed to such Eligible Employee by
      the
      Plan Administrator for the purpose of allowing such Eligible Employee to elect
      to actively participate in the Plan for a Plan Year.

    

    1.17         “Eligible
      Employee”
      shall mean, for each Plan Year, each management employee of a Participating
      Company who (i) is a member of a select group of highly compensated or key
      management employees, and (ii) is a Senior Manager for the Plan Year, or is
      otherwise designated by the Plan Administrator as eligible to participate in
      the
      Plan for such Plan Year.

     

    58149.19

    
      
        3

      

      
        
        

        
          

        

      

      
        
        

      

    

    1.18         “ERISA”
      shall mean the Employee
      Retirement Income Security Act of 1974, as amended.

    

    1.19    
          “Interest
      Income
      Option”
      shall mean the Investment Option described in Section 4.4, pursuant to which
      a
      Participant’s deemed investment earnings are determined on the basis of the
      Credited Interest Rate.

    

    1.20         “Interest
      Income
      Subaccount”
shall
      mean a bookkeeping subaccount reflecting that portion of a
      Participant’s Account for each Plan Year which is deemed to be invested in the
      Interest Income Option.

    

    1.21         “Investment
      Election”
      shall mean an in such form as is provided by the Plan Administrator on which
      an
      Eligible Employee may elect to have Deferral Contributions for a Plan Year
      (and
      all investment earnings attributable thereto) deemed invested in either the
      Stock Unit Option and/or the Interest Income Option.

    

    1.22         “Investment
      Options”
      shall mean the Stock Unit Option and the Interest Income Option.

     

    1.23         “Merger”
shall
      mean the planned merger, pursuant to the Agreement and Plan of Merger dated
      as
      of March 4, 2006 (the “Merger Agreement”), by and among BellSouth, AT&T Inc.
      (“AT&T”), and ABC Consolidation Corp., a Georgia corporation and
      wholly-owned subsidiary of AT&T (“Merger Sub”), pursuant to which, at the
“Effective Time” (as defined in the Merger Agreement), BellSouth will be merged
      with and into the Merger Sub.

    

    1.24         “Participant”
      shall mean any person
      participating in the Plan pursuant to the provisions of Article II, and shall
      include executive officers of BellSouth who participated in the Plan for Plan
      Years prior to 2002, for so long as each such individual has an Account
      hereunder.

    

    1.25         “Participating
      Company”
      shall mean BellSouth and each Affiliate which, by action of its board of
      directors (or equivalent governing body), adopts the Plan as a Participating
      Company with the approval of the Plan Administrator.  Such entities
      shall be listed on Exhibit A hereto, which shall be updated from time to
      time to reflect the addition of new Participating Companies, and the effective
      dates of their participation, and the deletion of any entities which are no
      longer Participating Companies.

    

    1.26         “Plan”
      shall mean the BellSouth
      Compensation Deferral Plan, as contained herein and all amendments
      hereto.

    

    1.27         “Plan
      Administrator” shall
      mean the person(s)
      determined under Section 8.4 to the extent said Section is applicable, and
      otherwise shall mean the Chief Executive Officer of BellSouth and any individual
      or committee the Chief Executive Officer designates to act on his or her behalf
      with respect to any or all of the Chief Executive Officer’s responsibilities
      hereunder; provided, the Board may designate any other person or committee
      to
      serve in lieu of the Chief Executive Officer as the Plan Administrator with
      respect to any or all of the administrative responsibilities
      hereunder.

     

    58149.19

    
      
        4

      

      
        
        

        
          

        

      

      
        
        

      

    

    1.28         “Plan
      Year” shall
      mean the calendar
      year.

     

    1.29         “Rabbi
      Trust
      Agreements” shall mean each and all of the: (i) BellSouth
      Corporation Trust Under Executive Benefit Plan(s); (ii) BellSouth
      Telecommunications, Inc. Trust Under Executive Benefit Plan(s); (iii) BellSouth
      Enterprises, Inc. Trust Under Executive Benefit Plan(s); (iv) BellSouth
      Corporation Trust Under Executive Benefit Plan(s) for Mobile Systems Executives;
      (v) BellSouth Corporation Trust Under Executive Benefit Plan(s) for Advertising
      and Publishing Executives; and (vi) Trust Under Executive Benefit Plan(s) for
      Certain BellSouth Companies; in each case, as amended from time to
      time.

     

    1.30         “Section
      409A”
shall mean Code Section 409A and the Treasury regulations or
      other authoritative
      guidance issued thereunder.  Whenever the terms “subject to Section
      409A” or “to the extent permitted by Section 409A” (or any such similar
      reference so as to indicate that a Plan provision is subject to Section 409A)
      are used, such terms shall be interpreted to mean that the applicable Plan
      provision shall be effective only if and to the extent such provision would
      not
      trigger penalty taxes or interest under Section 409A.

    

    1.31         “Senior
      Manager”
      shall mean an employee of a Participating Company who, for purposes of this
      Plan
      for a Plan Year, is designated by the Plan Administrator as a “senior
      manager.”

    

    1.32         “Short
      Term Bonus
      Plan”
      shall mean the annual bonus plan(s) or program(s) in which one or more Senior
      Managers participate for a Plan Year, in all cases as determined by the Plan
      Administrator.

    

    1.33         “Stock
      Unit”
      shall mean an accounting entry that represents an unsecured obligation of a
      Participating Company to pay to a Participant an amount which is based on the
      fair market value of one share of Company Stock as set forth
      herein.  A Stock Unit shall not carry any voting, dividend or other
      similar rights and shall not constitute an option or any other right to acquire
      any equity securities of BellSouth.

    

    1.34         “Stock
      Unit
      Option”
      shall mean the Investment Option described in Section 4.3, pursuant to which
      a
      Participant’s deemed investment earnings are determined by the rate of return
      applicable to Stock Units.

    

    1.35         “Stock
      Unit
      Subaccount” shall
      mean a bookkeeping
      subaccount reflecting that portion of a Participant’s Account for each Plan Year
      which is deemed to be invested in the Stock Unit Option.

    

    1.36         “Valuation
      Date”
      shall mean December 31 (or, if December 31 is not a Business Day, the last
      Business Day immediately preceding December 31), and each other day declared
      by
      the Plan Administrator to be a Valuation Date.

     

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    ARTICLE
      II

    ELIGIBILITY
      AND
      PARTICIPATION

    

    

    2.1           Annual
      Participation.  Each individual who is an Eligible
      Employee as of the first day of a Plan Year and is employed by a Participating
      Company before the beginning of such Plan Year shall be eligible to defer a
      portion of such Eligible Employee’s Base Salary, and thereby to actively
      participate in the Plan for such Plan Year.  Such individual’s
      participation shall become effective as of the first day of such Plan Year,
      provided that the Eligible Employee properly and timely completes the election
      procedures described in Section 2.2.

    

    2.2           Election
      Procedures.  Each Eligible Employee may elect to defer a
      portion of such Eligible Employee’s Base Salary, and thereby become an active
      Participant for a Plan Year, by delivering a completed Deferral Election and
      an
      Investment Election to the Plan Administrator by the applicable Election
      Deadline for such Plan Year.  Such an election shall be effective only
      if the individual is actively employed as an Eligible Employee at the time
      the
      individual delivers the completed Deferral Election and Investment Election
      to
      the Plan Administrator.  The Plan Administrator may also require the
      Eligible Employee to complete other forms and provide other data, as a condition
      of participation in the Plan.

    

    2.3           Cessation
      of
      Eligibility.  An Eligible Employee’s active
      participation in the Plan shall terminate, and the Eligible Employee shall
      not
      be eligible to make any additional Deferral Contributions, for any portion
      of a
      Plan Year following the date the Eligible Employee’s employment with BellSouth
      and all Participating Companies terminates (unless such individual is reemployed
      as an Eligible Employee later in such Plan Year).  In addition, an
      individual who actively participated in the Plan during prior Plan Years but
      who
      is not an Eligible Employee or does not complete the election procedures, for
      a
      subsequent Plan Year, shall cease active participation in the Plan for such
      subsequent Plan Year.  If an individual’s active participation in the
      Plan ends, such individual shall remain an inactive Participant in the Plan
      until the earlier of (i) the date the full amount of such individual’s Accounts
      is distributed from the Plan, or (ii) the date the individual again becomes
      an
      Eligible Employee and recommences active participation in the
      Plan.  During the period of time that an individual is an inactive
      Participant in the Plan, such individual’s Accounts shall continue to be
      credited with earnings as provided in the Plan.

     

    2.4           Limitations
      on New
      Elections.  Notwithstanding anything to the contrary
      herein, (i) after December 31, 2006, no Deferral Elections will be permitted
      under the Plan, and (ii) after December 31, 2005, no Investment Elections
      into the Stock Unit Option may be made under the Plan.

    

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    ARTICLE
      III

    PARTICIPANTS’
ACCOUNTS;
      DEFERRAL CONTRIBUTIONS

    

    

    3.1           Participants’
      Accounts.

    

      
      (a)           Establishment
      of
      Accounts. The
      Plan Administrator
      shall establish and maintain one or more Accounts on behalf of each Participant
      for each Plan Year for which the Participant makes Deferral
      Contributions.  The Plan Administrator shall credit each Participant’s
      Account with the Participant’s Deferral Contributions for such Plan Year and
      earnings attributable thereto, and shall maintain such Account until the value
      thereof has been distributed to or on behalf of such Participant or his
      Beneficiary.

    

      
      (b)           Nature
      of Contributions and
      Accounts.  The amounts credited to a Participant’s
      Accounts shall be represented solely by bookkeeping entries.  Except
      as provided in Article VII, no monies or other assets shall actually be set
      aside for such Participant, and all payments to a Participant under the Plan
      shall be made from the general assets of the Participating
      Companies.

    

      
      (c)           Several
      Liabilities.  Each Participating Company shall be
      severally (and not jointly) liable for the payment of benefits under the Plan
      under Deferral Elections executed by Eligible Employees with, and while employed
      by, such Participating Company.

    

      
      (d)           General
      Creditors.  Any assets which may be acquired by a
      Participating Company in anticipation of its obligations under the Plan shall
      be
      part of the general assets of such Participating Company.  A
      Participating Company’s obligation to pay benefits under the Plan constitutes a
      mere promise of such Participating Company to pay such benefits, and a
      Participant or Beneficiary shall be and remain no more than an unsecured,
      general creditor of such Participating Company.

    

    3.2           Deferral
      Contributions.  Each Eligible Employee may irrevocably
      elect to have Deferral Contributions made on his or her behalf for a Plan Year
      by completing in a timely manner a Deferral Election and an Investment Election,
      and following other election procedures as provided in Section
      2.2.  Subject to any modifications, additions or exceptions that the
      Plan Administrator, in its sole discretion, deems necessary, appropriate or
      helpful and that are made in compliance with Section 409A, the following terms
      shall apply to such Deferral Elections:

    

      
      (a)           Effective
      Date.  A Deferral Election made by a Participant shall
      be effective beginning with the first regular, periodic paycheck earned and
      paid
      with respect to the Participant in such Plan Year.  To be effective, a
      Participant’s Deferral Election must be made by the Election
      Deadline.  If an Eligible Employee fails to deliver a Deferral
      Election, or to complete any of the other requisite election procedures for
      a
      Plan Year, in a timely manner, the Eligible Employee shall be deemed to have
      elected not to participate in the Plan for that Plan Year.

     

    58149.19

    
      
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      (b)           Term.  Each
      Deferral Election for a Plan Year that is made by an Eligible Employee shall
      remain in effect with respect to the specified portion of all Base Salary paid
      or payable during such Plan Year, but shall not apply to any subsequent Plan
      Year.

     

               (c)           Deferral
      Election
      Amount.  Each Eligible Employee’s Deferral Election for
      a Plan Year shall specify a whole percentage of his or her Compensation to
      be
      deferred from his or her Base Salary earned and paid for such
      year.  Notwithstanding the foregoing, the Plan Administrator, in its
      sole discretion, may allow an Eligible Employee to complete a Deferral Election
      specifying either (i) a whole dollar amount of his or her Base Salary to be
      deferred, with such amount being expressed in increments of $1,000 (or such
      other increments as the Plan Administrator may determine), or (ii) a percentage
      of his or her Base Salary earned and paid or payable for each payroll period,
      with the amount of such deferral to vary as the Eligible Employee’s Base Salary
      changes.  The maximum amount of Base Salary that an Eligible Employee
      may defer for any Plan Year shall be fifteen percent (15%) of the Eligible
      Employee’s Compensation for such Plan Year rounded up to the next highest
      thousand dollars.  The total amount elected to be deferred shall be
      withheld from such Eligible Employee’s regular, periodic paychecks of Base
      Salary in substantially equal installments (except as contemplated in clause
      (ii) above) throughout the Plan Year.  If any election would result in
      a fractional dollar amount to be withheld, the Plan Administrator, in its sole
      discretion, may determine that such amount will be rounded up to the next
      highest whole dollar.  Notwithstanding any provision of the Plan or a
      Deferral Election to the contrary, however, the amount withheld from any payment
      of Base Salary shall be reduced automatically, if necessary, so that it does
      not
      exceed the amount of such payment net of all withholding, allotments and
      deductions, other than any reduction pursuant to such Deferral
      Election.  No amounts shall be withheld during any period an
      individual ceases to receive Base Salary as an actively employed Eligible
      Employee for any reason during the Plan Year except that, in the case of an
      individual on an approved paid leave of absence as an Eligible Employee
      (including a paid leave of absence under a short term disability plan of a
      Participating Company), amounts shall be withheld from such leave of absence
      payments and otherwise treated in the same manner as if such payments
      constituted Base Salary under the Plan.  No adjustment shall be made
      in the amount to be withheld from any subsequent payment of Base Salary for
      a
      Plan Year to compensate for any missed or reduced withholding amounts
      above.

    

      
      (d)           Revocation.  Once
      made for a Plan Year, a Participant may not revoke a Deferral Election for
      such
      Plan Year.

    

      
      (e)           Crediting
      of Deferred
      Compensation.  The Plan Administrator shall credit to
      each Participant’s Account for a Plan Year, as of the first day of such Plan
      Year, the entire amount of the Participant’s Deferral Contributions reflected in
      his or her Deferral Election for such Plan Year; provided, that the
      Participant’s Account shall be automatically adjusted, retroactively to the
      first day of such Plan Year, to reflect the amount of Deferral Contributions
      actually made from Base Salary (or pursuant to Section 3.4, if applicable)
      during the Plan Year if for any reason the entire amount of the Participant’s
      Deferral Contributions so reflected is not made.

     

    58149.19

    
      
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    3.3           Deferral
      Elections and
      Multiple Participating Companies.  Any Deferral Election
      which is timely executed and delivered to the Plan Administrator shall be
      effective to defer Base Salary earned by the Participant from the Participating
      Company employing such Participant at the time of the Participant’s election or
      any other Participating Company employing such Participant during the Plan
      Year
      for which the Deferral Election is effective.  In particular, a
      Participant (i) who timely executes and delivers a Deferral Election while
      employed by one Participating Company and subsequently transfers to another
      Participating Company, or (ii) who terminates employment and subsequently
      becomes employed by another Participating Company, shall have the Base Salary
      that is paid or payable to such Participant by both Participating Companies
      reduced under the terms of the Deferral Election and the Plan as if the transfer
      or termination and reemployment had not occurred; provided that, as provided
      in
      Section 3.2(c), no amounts of Base Salary shall be withheld attributable to
      any
      portion of the Plan Year during which such Participant is not receiving Base
      Salary as an Eligible Employee of a Participating Company.

    

    3.4           Vesting.  A
      Participant shall at all times be fully vested in the Participant’s Deferral
      Contributions and all investment earnings attributable thereto.

     

    3.5           Debiting
      of
      Distributions. As of
      each Valuation
      Date, the Plan Administrator shall debit each Participant’s Account for any
      amount distributed from such Account since the immediately preceding Valuation
      Date.

    

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    ARTICLE
      IV

    DETERMINATION
      AND CREDITING
      OF INVESTMENT RETURN

    

    

    4.1           General
      Investment
      Parameters.  The rate of return credited to each
      Participant’s Account shall be determined on the basis of the Investment
      Option(s) selected by the Participant.  The terms of this selection
      process and the manner in which investment return is credited are set forth
      in
      this Article IV.

    

    4.2           Participant
      Direction of
      Deemed Investments.  Each Participant generally may
      direct the manner in which his or her Deferral Contributions for each Plan
      Year
      shall be deemed invested in and between the Stock Unit Option and/or the
      Interest Income Option, in accordance with the following terms:

    

      
      (a)           Nature
      of Participant
      Direction.  A Participant’s election of the Stock Unit
      Option and/or Interest Income Option shall be for the sole purpose of
      determining the rate of return to be credited to such Participant’s Account for
      such Plan Year, and shall not be treated or interpreted in any manner whatsoever
      as a requirement or direction to actually invest assets in Company Stock, an
      interest income fund or any other investment media.  The Plan, as an
      unfunded, nonqualified deferred compensation plan, at no time shall have any
      actual investment of assets relative to the benefits or Accounts
      hereunder.

     

          
      (b)           Investment
      of
      Contributions.  In conjunction with completing a
      Deferral Election for a Plan Year, an Eligible Employee shall complete an
      Investment Election prescribing the whole percentages of such Eligible
      Employee’s Deferral Contributions for such Plan Year to be deemed to be invested
      in the Stock Unit Option and/or the Interest Income Option; provided, that
      the
      combined percentages allocated to the Stock Unit Option and the Interest Income
      Option shall equal one hundred percent (100%).  Notwithstanding
      anything to the contrary herein, no Investment Elections into the Stock Unit
      Option may be made after December 31, 2005.

    

      
      (c)           Investment
      of Existing
      Account Balances.  A Participant may not make an
      Investment Election changing the percentage of an existing Account balance
      that
      will be deemed to be invested in the Stock Unit Option and/or the Interest
      Income Option.  Once an Investment Election is made with respect to an
      Account, it shall continue to apply with respect to such Account until all
      amounts in such Account are distributed.

    

      
      (d)           Investment
      Subaccounts.  For the sole purpose of tracking a
      Participant’s Investment Elections and calculating investment earnings
      attributable to a Participant’s Account for a Plan Year pursuant to the terms of
      this Article IV, the Plan Administrator shall establish and maintain for
      such Participant for such Plan Year a Stock Unit Subaccount and an Interest
      Income Subaccount, as necessary, the total of which shall equal such
      Participant’s Account for such Plan Year.

     

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    4.3           Stock
      Unit
      Option.

    

      
      (a)           Stock
      Unit
      Subaccount.  To the extent an Eligible Employee makes an
      Investment Election in accordance with Section 4.2 to have all or a portion
      of
      his or her Deferral Contributions for a Plan Year deemed to be invested in
      the
      Stock Unit Option, the Participant’s Stock Unit Subaccount shall be credited
      (subject to the adjustment described in subsection 3.2(e), if applicable),
      as of
      the first day of such Plan Year, with a number of Stock Units equal to the
      number of full and fractional shares of Company Stock that could have been
      purchased with such portion of the Eligible Employee’s Deferral Contributions
      elected for such Plan Year at the average of the high and low sales prices
      of
      one share of Company Stock on the New York Stock Exchange for the last Business
      Day of each of the three (3) calendar months immediately preceding the first
      day
      of such Plan Year.

    

      
      (b)           Cash
      Dividends.  As of each date on which a cash dividend has
      been paid on Company Stock, the number of Stock Units credited to a
      Participant’s Stock Unit Subaccount for each Plan Year shall be increased by a
      number of additional Stock Units equal to the quotient of (i) the amount of
      dividends that would have been paid on the number of shares of Company Stock
      equivalent to the number of Stock Units credited to such subaccount as of such
      dividend payment date, divided by (ii) the average of the daily high and low
      sales prices of one share of Company Stock on the New York Stock Exchange for
      the period of five (5) Business Days ending on such dividend payment date (or
      the period of five (5) Business Days ending on the immediately preceding
      Business Day if such date was not a Business Day).

    

      
      (c)           Adjustments.  In
      the event of any change in outstanding shares of Company Stock, by
      reclassification, recapitalization, merger, consolidation, spinoff, combination,
      exchange of shares, stock split, reverse stock split or otherwise, or in the
      event of the payment of a stock dividend on Company Stock, or in the event
      of
      any other increase or decrease in the number of outstanding shares of Company
      Stock, other than the issuance of shares for value received by BellSouth or
      the
      redemption of shares for value, the Plan Administrator shall adjust the number
      and/or form of Stock Units in the manner it deems appropriate in its reasonable
      judgment to reflect such event, including substituting or adding publicly traded
      shares of companies other than the Company as a basis for determining Stock
      Units.  The Plan Administrator similarly shall make such adjustments
      as it deems are appropriate in its reasonable judgment in the form, including
      the basis of measurement, of Stock Units in the event all shares of Company
      Stock cease for any reason to be outstanding or to be actively traded on the
      New
      York Stock Exchange.  In the event the Plan Administrator determines
      in its reasonable judgment that it would not be possible to appropriately
      reflect an event under this paragraph (c) by adjusting the number and/or form
      of
      Stock Units, the Plan Administrator shall establish a special Valuation Date
      appropriate to such event for all Stock Unit Subaccounts and shall cause such
      subaccounts, as so valued, automatically to be converted into Interest Income
      Subaccounts, which thereafter shall be subject to Section 4.4.

    

    

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    4.4           Interest
      Income
      Option.

    

      
      (a)           Interest
      Income
      Subaccount.  To the extent that an Eligible Employee
      makes an Investment Election in accordance with Section 4.2 to have all or
      a
      portion of his or her Deferral Contributions for a Plan Year deemed to be
      invested in the Interest Income Option, the Participant’s Interest Income
      Subaccount shall be credited (subject to the adjustment described in subsection
      3.2(e), if applicable), as of the first day of such Plan Year, with such portion
      of the Eligible Employee’s Deferral Contributions elected for such Plan
      Year.

    

      
      (b)           Crediting
      of Deemed
      Interest.  As of each Valuation Date, the Plan
      Administrator shall credit a Participant’s Interest Income Subaccounts with the
      amount of earnings applicable thereto for the period since the immediately
      preceding Valuation Date.  Such crediting of earnings for each
      Interest Income Subaccount shall be effected, as follows:

    

    
      	
               

            	
               

            	
                 (i)    
Amount
                Invested.  The Plan Administrator shall determine
                the amount of (A) in the case of an Interest Income Subaccount established
                in connection with a Deferral Election for the Plan Year, such
                Participant’s Deferral Contributions credited to such Participant’s
                Interest Income Subaccount for such Plan Year; and (B) in the case
                of an
                Interest Income Subaccount for a prior Plan Year, the balance of
                such
                Participant's Interest Income Subaccount as of the immediately preceding
                Valuation Date, minus the amount distributed from such Participant’s
                Interest Income Subaccount since the immediately preceding Valuation
                Date;
                and

            

    

    

    
      	
               

            	
               

            	
                (ii)   Determination
                of
                Amount.  The Plan Administrator then shall apply
                the Credited Interest Rate for such Plan Year to such Participant's
                adjusted Interest Income Subaccount (as determined in subparagraph
                (i)
                hereof), and the total amount of investment earnings resulting therefrom
                shall be credited to such Participant's Interest Income Subaccount
                as of
                such Valuation Date.

            

    

    

    4.5           Good
      Faith Valuation
      Binding.  In determining the value of Accounts, the Plan
      Administrator shall exercise its best judgment, and all such determinations
      of
      value (in the absence of bad faith) shall be binding upon all Participants
      and
      their Beneficiaries.

    

    4.6           Errors
      and Omissions in
      Accounts.  If an error or omission is discovered in the
      Account of a Participant or in the amount of a Participant's Deferral
      Contributions, the Plan Administrator, in its sole discretion, shall cause
      appropriate, equitable adjustments to be made as soon as administratively
      practicable following the discovery of such error or omission.

     

    58149.19

    
      
        
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    ARTICLE
      V

    PAYMENT
      OF ACCOUNT
      BALANCES

    

    

    5.1           Benefit
      Amounts.

    

      
      (a)           Benefit
      Entitlement.  As the benefit under the Plan, each
      Participant (or Beneficiary) shall be entitled to receive the total amount
      of
      the Participant’s Accounts, determined as of the most recent Valuation Date, and
      payable at such times and in such forms as described in this
      Article V.

    

      
      (b)           Valuation
      of
      Benefit.  For purposes hereof, each Account of a
      Participant as of any Valuation Date shall be equal to (i) the total amount
      of all of such Participant’s Deferral Contributions credited thereto; plus
      (ii) all deemed investment earnings attributable thereto; minus
      (iii) the total amount of all benefit payments previously made
      therefrom.

    

      
      (c)           Conversion
      of Stock Units
      into Dollars.  For purposes of converting some or all of
      a Participant’s Stock Units into a dollar amount in valuing the Participant’s
      Accounts as of any Valuation Date, the value of each Stock Unit shall be equal
      to the average of the high and low sales prices of one share of Company Stock
      on
      the New York Stock Exchange for the last Business Day of each of the three
      (3)
      months of the calendar quarter most recently completed on or prior to such
      Valuation Date.

    

    5.2           Elections
      of Timing and
      Form.  In conjunction with, and at the time of,
      completing a Deferral Election for each Plan Year, an Eligible Employee shall
      select the timing and form of the distribution that will apply to the Account
      for such Eligible Employee’s Deferral Contributions (and deemed investment
      earnings attributable thereto) for such Plan Year.  The terms
      applicable to this selection process are as follows:

    

      
      (a)           Timing.  For
      a Participant’s Account for each Plan Year, such Participant may elect that
      distribution will be made or commence as of any January 1 following the
      Plan Year of deferral; provided, a Participant may not select a benefit payment
      or commencement date for such Account that is (i) earlier than the second
      January 1 following the end of the Plan Year for which the deferral is made,
      or
      (ii) later than the twentieth January 1 following the end of the Plan Year
      of deferral.

    

      
      (b)           Form
      of
      Distribution.  For a Participant’s Account for each Plan
      Year, such Participant may elect that distribution will be paid in one of the
      following forms:

     

    
      
        	
                 

              	
                (i)

              	
                a
                  single lump-sum cash payment; or

              

      

       

    

    
      	
               

            	
              (ii)

            	
              substantially
                equal annual installments (adjusted for investment earnings between
                payments in the manner described in Article IV) over a period of two
                (2) to ten (10) years.

            

    

     

    
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      (c)           Multiple
      Selections.  An Eligible Employee may select a different
      benefit payment or commencement date and/or a different form of distribution
      with respect to his or her Account for each Plan Year.  For ease of
      administration, the Plan Administrator may combine Accounts and subaccounts
      of a
      Participant to which the same benefit payment/commencement date and the same
      form of distribution apply.

    

    5.3           Benefit
      Payments to a
      Participant.

    

      
      (a)           Timing.  A
      Participant shall receive or begin receiving a distribution of each of his
      or
      her Accounts as of the earlier of (i) the January 1 selected by such
      Participant with respect to each such Account pursuant to the terms of
      Section 5.2(a); or (ii) the January 1 immediately following the
      date that such Participant’s employment with BellSouth and all Affiliates ends
      for any reason.  An amount payable “as of” any January 1 shall be
      made as soon as practicable after such January 1 and, unless extenuating
      circumstances arise, no later than January 31.

    

      
      (b)           Form
      of
      Distribution.  A Participant shall receive or begin
      receiving a distribution of each of his or her Accounts in cash in the form
      selected by such Participant with respect to such Account pursuant to the terms
      of Section 5.2(b).

    

       (c)           Valuation
      of Single Lump-Sum
      Payments.  The amount of a Participant’s single lump-sum
      distribution of any of his or her Accounts as of any applicable January 1
      shall be equal to the value of such Account as of the Valuation Date immediately
      preceding the date on which such distribution is paid.

    

      
      (d)           Valuation
      of Installment
      Payments.  For purposes of determining the amount of any
      installment payment to be paid as of a January 1 from an Account, the
      following shall apply:

    

    
      	
               

            	
               

            	
                
(i)  
for
                any amount of such
                Account attributable to an Interest Income Subaccount as of the
                immediately preceding Valuation Date, such amount shall be divided
                by the
                number of remaining installments to be paid from such Account (including
                the current installment); and

            

    

    

    
      	
               

            	
               

            	
                   
                 (ii)    for
                any portion
                of such Account attributable to a Stock Unit Subaccount as of the
                immediately preceding Valuation Date, the total number of Stock Units
                constituting such portion shall be divided by the number of remaining
                installments to be paid from such Account (including the current
                installment), and the resulting number of Stock Units shall be converted
                into a dollar amount (pursuant to the terms of Section 5.1(c)) as of
                such Valuation Date.

            

    

    

       
      (e)           One-Time
      Modification of
      Certain Elections.  Each active executive officer of
      BellSouth who is a Participant in this Plan and who is eligible to participate
      in the BellSouth Officer Compensation Deferral Plan (the “Officer Plan”) during
      the 2002 Plan Year, may make a one-time election to delay the payment (or
      commencement) of any of his or her Accounts hereunder, and may make a one-time
      election to increase the number of payments applicable to his or her Accounts,
      as and to the extent provided in the Officer Plan.

     

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      (f)            Distributions
      to Section
      409A Specified Employees.  Notwithstanding
      any provision of this Plan to the contrary, with respect to any Participant
      who
      is a “specified employee” for purposes of Section 409A, no payment of any
      portion of such Participant’s benefit amount which is occasioned by the
      Participant’s separation from service shall be made before the date that is six
      (6) months after the date of such Participant’s separation from
      service.

    

    5.4        Death
      Benefits.

     

          (a)           General.  If
      a Participant dies before receiving the entire amount of his or her benefit
      under the Plan, such Participant’s Beneficiary shall receive distribution of
      amounts remaining in the Participant’s Accounts in the form, as elected by the
      Participant on a Beneficiary designation form described in Section 5.5, of
      either:

    

    
      	
               

            	
               

            	
                  (i)    a
                single lump-sum cash payment of the entire balance in the Participant’s
                Accounts as of the January 1 immediately following the date of the
                Participant’s death; or

            

    

    

    
      	
               

            	
               

            	
                  (ii)    (A)
                for
                Accounts with respect to which distribution has not commenced under
                Section 5.2 at the time of the Participant’s death, substantially
                equal annual installments (adjusted for investment earnings between
                payments in the manner described in Article IV) over a period of two
                (2) to ten (10) years,  commencing as of the January 1
                immediately following the Participant’s death; and (B) for Accounts
                with respect to which distribution has commenced in the form of
                installments described in Section 5.2(b)(ii) at the time of the
                Participant’s death, continuation of such installment payment
                schedule.

            

    

    

    An
      amount
      payable “as of” any January 1 shall be made as soon as practicable after
      such January 1 and, unless extenuating circumstances arise, no later than
      January 31.

     

          (b)           Valuation.  The
      valuation rules described in subsections 5.3(c) and 5.3(d) shall apply to
      payments described in this Section 5.4.

    

    5.5        Beneficiary
      Designation.

    

     
      (a)           General.  A
      Participant shall designate a Beneficiary or Beneficiaries for all of his or
      her
      Accounts by completing the form prescribed for this purpose for the Plan by
      the
      Plan Administrator and submitting such form as instructed by the Plan
      Administrator.  Once a Beneficiary designation is made, it shall
      continue to apply until and unless such Participant makes and submits a new
      Beneficiary designation form for this Plan; provided that, after December 31,
      2007, no changes may be made to the form or timing of payment of death benefits
      on a previously submitted Beneficiary Designation (although the Beneficiary(ies)
      designated may be changed consistent with rules prescribed by the Plan
      Administrator).  Prior to January 1, 2008, any such changes may be
      made only to the extent permitted by and consistent with
      Section 409A.

     

    58149.19

    
      
        15

      

      
        
        

        
          

        

      

      
        
        

      

    

     
      (b)           No
      Designation or Designee
      Dead or Missing.  In the event that:

     

    
      

      
        	
                 

              	
                 

              	
                    (i)    a
                  Participant dies without designating a
                  Beneficiary;

              

      

       

    

    
      	
               

            	
               

            	
                  (ii)    the
                Beneficiary designated by a Participant is not surviving or in existence
                when payments are to be made or commence to such designee under the
                Plan,
                and no contingent Beneficiary, surviving or in existence, has been
                designated; or

            

    

    

    
      	
               

            	
               

            	
                  (iii)    the
                Beneficiary designated by a Participant cannot be located by the
                Plan
                Administrator within 1 year from the date benefit payments are to
                be made
                or commence to such designee;

            

    

    

    then,
      in
      any of such events, the Beneficiary of such Participant shall be the
      Participant's surviving spouse, if any can then be located, and if not, the
      estate of the Participant, and the entire balance in the Participant’s Accounts
      shall be paid to such Beneficiary in the form of a single lump-sum cash payment
      described in Section 5.4(a)(i).

    

     
      (c)           Death
      of
      Beneficiary.  If a Beneficiary who survives the
      Participant, and to whom payment of Plan benefits commences, dies before
      complete distribution of the Participant’s Accounts, the entire balance in such
      Accounts shall be paid to the estate of such Beneficiary in the form of a single
      lump-sum cash payment as of the January 1 immediately following such
      Beneficiary’s death.  An amount payable “as of” any January 1
      shall be made as soon as practicable after such January 1 and, unless
      extenuating circumstances arise, no later than January 31.  The
      valuation rules described in subsection 5.3(c) shall apply to any payments
      described in this subsection 5.5(c).

    

    5.6        Taxes.  If
      the whole or any part of any Participant's or Beneficiary's benefit hereunder
      shall become subject to any estate, inheritance, income, employment or other
      tax
      which a Participating Company shall be required to pay or withhold, the
      Participating Company shall have the full power and authority to withhold and
      pay such tax out of any monies or other property in its hand for the account
      of
      the Participant or Beneficiary whose interests hereunder are so
      affected.  Prior to making any payment, the Participating Company may
      require such releases or other documents from any lawful taxing authority as
      it
      shall deem necessary.  Notwithstanding the foregoing, no such
      withholding will be made with respect to a benefit under the Plan that is
      subject to Section 409A unless (i) such benefit is currently distributable
      to
      the Participant, (ii) such benefit is includible in the gross income of the
      Participant due to a violation of Section 409A, or (iii) such withholding is
      for
      purposes of FICA tax or federal income tax with respect to such
      benefit.

     

     

    58149.19

    
      
        16

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     ARTICLE
      VI

    CLAIMS

    

    

    6.1        Initial
      Claim.  Claims for benefits under the Plan may be filed
      with the Plan Administrator on forms or in such other written documents, as
      the
      Plan Administrator may prescribe.  The Plan Administrator shall
      furnish to the claimant written notice of the disposition of a claim within
      90
      days after the application therefor is filed.  In the event the claim
      is denied, the notice of the disposition of the claim shall provide the specific
      reasons for the denial, citations of the pertinent provisions of the Plan,
      and,
      where appropriate, an explanation as to how the claimant can perfect the claim
      and/or submit the claim for review.

    

    6.2        Appeal.  Any
      Participant or Beneficiary who has been denied a benefit shall be entitled,
      upon
      request to the Plan Administrator, to appeal the denial of his or her
      claim.  The claimant (or his or her duly authorized representative)
      may review pertinent documents related to the Plan and in the Plan
      Administrator's possession in order to prepare the appeal.  The
      request for review, together with written statement of the claimant's position,
      must be filed with the Plan Administrator no later than 60 days after receipt
      of
      the written notification of denial of a claim provided for in Section
      6.1.  The Plan Administrator's decision shall be made within 60 days
      following the filing of the request for review.  If unfavorable, the
      notice of the decision shall explain the reasons for denial and indicate the
      provisions of the Plan or other documents used to arrive at the
      decision.

    

    6.3        Satisfaction
      of
      Claims.  The payment of the benefits due under the Plan
      to a Participant or Beneficiary shall discharge the Participating Company’s
      obligations under the Plan, and neither the Participant nor the Beneficiary
      shall have any further rights under the Plan upon receipt by the appropriate
      person of all benefits.  In addition, (i) if any payment is made to a
      Participant or Beneficiary with respect to benefits described in the Plan from
      any source arranged by BellSouth or a Participating Company including, without
      limitation, any fund, trust, insurance arrangement, bond, security device,
      or
      any similar arrangement, such payment shall be deemed to be in full and complete
      satisfaction of the obligation of the Participating Company under the Plan
      to
      the extent of such payment as if such payment had been made directly by such
      Participating Company; and (ii) if any payment from a source described in
      clause (i) shall be made, in whole or in part, prior to the time payment would
      be made under the terms of the Plan, such payment shall be deemed to satisfy
      such Participating Company’s obligation to pay Plan benefits beginning with the
      benefit which would next become payable under the Plan and continuing in the
      order in which benefits are so payable, until the payment from such other source
      is fully recovered.  The Plan Administrator or such Participating
      Company, as a condition to making any payment, may require such Participant
      or
      Beneficiary to execute a receipt and release therefor in such form as shall
      be
      determined by the Plan Administrator or the Participating Company.  If
      receipt and release is required but the Participant or Beneficiary (as
      applicable) does not provide such receipt and release in a timely enough manner
      to permit a timely distribution in accordance with the general timing of
      distribution provisions in the Plan, the payment of any affected distribution
      may be delayed until the Plan Administrator or the Participating Company
      receives a proper receipt and release.

     

    
      58149.19

      
        
          17

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

    ARTICLE
      VII

    SOURCE
      OF
      FUNDS

    

    

    Each
      Participating Company shall
      provide the benefits described in the Plan from its general
      assets.  However, to the extent that funds in one or more trusts, or
      other funding arrangement(s), allocable to the benefits payable under the Plan
      are available, such assets may be used to pay benefits under the
      Plan.  If such assets are not sufficient or are not used to pay all
      benefits due under the Plan, then the appropriate Participating Company shall
      have the obligation, and the Participant or Beneficiary, who is due such
      benefits, shall look to such Participating Company to provide such benefits.
      No
      Participant or Beneficiary shall have any interest in the assets of any trust,
      or other funding arrangement, or in the general assets of the Participating
      Companies other than as a general, unsecured creditor.  Accordingly, a
      Participating Company shall not grant a security interest in the assets held
      by
      the trust in favor of the Participants, Beneficiaries or any
      creditor.

     

    
      58149.19

      
        
          18

        

        
          
          

          
            

          

        

        
          
          

        

      

    ARTICLE
      VIII

    PLAN
      ADMINISTRATION

    

    

    8.1        Action
      by the Plan
      Administrator.

    

     (a)           Individual
      Administrator.  If the Plan Administrator is an
      individual, such individual shall act and record his or her actions in
      writing.  Any matter concerning specifically such individual’s own
      benefit or rights hereunder shall be determined by the Board or its
      designee.

    

     (b)           Administrative
      Committee.  If the Plan Administrator is a committee,
      action of the Plan Administrator may be taken with or without a meeting of
      committee members; provided, action shall be taken only upon the vote or other
      affirmative expression of a majority of the committee members qualified to
      vote
      with respect to such action.  If a member of the committee is a
      Participant or Beneficiary, such member shall not participate in any decision
      which solely affects his or her own benefit under the Plan.  For
      purposes of administering the Plan, the Plan Administrator shall choose a
      secretary who shall keep minutes of the committee's proceedings and all records
      and documents pertaining to the administration of the Plan.  The
      secretary may execute any certificate or any other written direction on behalf
      of the Plan Administrator.

    

    8.2        Rights
      and Duties of the
      Plan Administrator.  The Plan Administrator shall
      administer the Plan and shall have all powers necessary to accomplish that
      purpose, including (but not limited to) the following:

    

     (a)           to
      construe, interpret and administer the Plan;

    

     (b)           to
      make determinations required by the Plan, and to maintain records regarding
      Participants’ and Beneficiaries’ benefits hereunder;

    

     (c)           to
      compute and certify to Participating Companies the amount and kinds of benefits
      payable to Participants and Beneficiaries, and to determine the time and manner
      in which such benefits are to be paid;

    

     (d)           to
      authorize all disbursements by a Participating Company pursuant to the
      Plan;

    

     (e)           to
      maintain all the necessary records of the administration of the
      Plan;

    

     (f)        
         to make and publish such rules and procedures for the
      regulation of the Plan as are not inconsistent with the terms
      hereof;

    

     (g)           to
      delegate to other individuals or entities from time to time the performance
      of
      any of its duties or responsibilities hereunder; and

     

    
      58149.19

      
        
          19

        

        
          
          

          
            

          

        

        
          
          

        

      

     (h)           to
      hire agents, accountants, actuaries, consultants and legal counsel to assist
      in
      operating and administering the Plan.

    

    The
      Plan
      Administrator shall have the exclusive right to construe and interpret the
      Plan,
      to decide all questions of eligibility for benefits and to determine the amount
      of such benefits, and its decisions on such matters shall be final and
      conclusive on all parties.

    

    8.3        Bond;
      Compensation.  The Plan Administrator and (if
      applicable) its members shall serve as such without bond and without
      compensation for services hereunder.  All expenses of the Plan
      Administrator shall be paid by the Participating Companies.

    

    8.4        Post-Merger
      Plan
      Administration.  Notwithstanding
      anything to the contrary in this Plan, following the Merger, responsibility
      for
      administration of the Plan shall be determined under the terms of the Rabbi
      Trust Agreements.  As provided in the Rabbi Trust Agreements, claims
      for benefits, appeals of benefit denials and Plan interpretations shall be
      made
      by a “Trust Contractor” or “Independent Fiduciary” (as such terms are defined in
      the Rabbi Trust Agreements), as the case may be.  At any time during
      which a Trust Contractor or Independent Fiduciary shall, under the terms of
      the
      Rabbi Trust Agreements, have such Plan administrative responsibilities, the
      term
“Plan Administrator” as used in this Plan shall refer to such Trust Contractor
      or Independent Fiduciary.

    

    
      58149.19

      
        
          20

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    ARTICLE
      IX

    AMENDMENT
      AND
      TERMINATION

    

    

    9.1        Amendments.  Subject
      to Section 9.3, the Board shall have the right, in its sole discretion, to
      amend the Plan in whole or in part at any time and from time to
      time.  In addition, the Plan Administrator shall have the right, in
      its sole discretion, to amend the Plan at any time and from time to time so
      long
      as such amendment is not of a material nature.  Notwithstanding the
      foregoing, no such action shall accelerate or postpone the time or schedule
      of
      payment of any Plan benefits except as may be permitted under Section 409A
      and regulations thereunder.

    

    9.2      
       Termination
      of
      Plan.  Subject to Section 9.3, BellSouth reserves the
      right to discontinue and terminate the Plan at any time, for any
      reason.  Any action to terminate the Plan shall be taken by the Board
      and such termination shall be binding on all Participating Companies,
      Participants and Beneficiaries.

     

    9.3        Limitation
      on
      Authority.  Except as otherwise provided in this
      Section 9.3, no contractual right created by and under any Deferral
      Election made prior to the effective date of any amendment or termination shall
      be abrogated by any amendment or termination of the Plan, absent the express,
      written consent of the Participant who made the Deferral Election.

    

     (a)           Plan
      Amendments.  The limitation on authority described in
      this Section 9.3 shall not apply to any amendment of the Plan which is
      reasonably necessary, in the opinion of counsel, (i) to preserve the
      intended tax consequences of the Plan described in Sections 10.1 and 10.10,
      (ii) to preserve the status of the Plan as an unfunded, nonqualified
      deferred compensation plan for the benefit of a select group of management
      or
      highly compensated employees and not subject to the requirements of Part 2,
      Part 3 and Part 4 of Title I of ERISA, or (iii) to guard
      against other material adverse impacts on Participants and Beneficiaries, and
      which, in the opinion of counsel, is drafted primarily to preserve such intended
      consequences, or status, or to guard against such adverse impacts.

    

     (b)           Plan
      Termination.  The limitation on authority described in
      this Section 9.3 shall not apply to any termination of the Plan as the result
      of
      a determination that, in the opinion of counsel, (i) Participants and
      Beneficiaries generally are subject to federal income taxation (including but
      not limited to taxation, penalty taxes, interest or other adverse tax
      consequences under Section 409A) on Deferral Contributions or other amounts
      in
      Participant Accounts prior to the time of distribution of amounts under the
      Plan, or (ii) the Plan is generally subject to Part 2, Part 3 or Part 4 of
      Title
      in of ERISA, but in either case only if such termination is reasonably
      necessary, in the opinion of counsel, to guard against material adverse impacts
      on Participants and Beneficiaries, or BellSouth or Participating
      Companies.  Upon such termination, the entire amount in each
      Participant’s Accounts shall be distributed in a single lump-sum distribution as
      soon as practicable after the date on which the Plan is terminated; provided,
      no
      benefit under the Plan that is subject to Section 409A shall be distributed
      prior to the earliest date such distribution would be permitted under Section
      409A.  In such event, the Plan Administrator shall declare that the
      date of termination (or, if such day is not a Business Day, the last Business
      Day immediately preceding such day) shall be a Valuation Date and all
      distributions shall be made based on the value of the Accounts as of such
      Valuation Date.

     

    
      58149.19

      
        
          21

        

        
          
          

          
            

          

        

        
          
          

        

      

    (c)           Opinions
      of
      Counsel.  In each case in which an opinion of counsel is
      contemplated in this Section 9.3, any such opinion shall be in writing and
      delivered to the Board, rendered by a nationally recognized law firm selected
      or
      approved by the Board.

    

    

       

      
        58149.19

        
          
            22

          

          
            
            

            
              

            

          

          
            
            

          

        

      

    

    

    ARTICLE
      X

    MISCELLANEOUS

    

    

    10.1      Taxation.  It
      is the intention of BellSouth that the benefits payable hereunder shall not
      be
      deductible by the Participating Companies nor taxable for federal income tax
      purposes to Participants or Beneficiaries until such benefits are paid by the
      Participating Company to such Participants or Beneficiaries.  When
      such benefits are so paid, it is the intention of the Participating Companies
      that they shall be deductible by the Participating Companies under Code Section
      162.

    

    10.2      Withholding.  All
      payments made to a Participant or Beneficiary hereunder shall be reduced by
      any
      applicable federal, state or local withholding or other taxes or charges as
      may
      be required under applicable law.

    

    10.3      No
      Employment
      Contract.  Nothing herein contained is intended to be
      nor shall be construed as constituting a contract or other arrangement between
      a
      Participating Company and any Participant to the effect that the Participant
      will be employed by the Participating Company or continue to be an employee
      for
      any specific period of time.

    

    10.4      Headings.  The
      headings of the various articles and sections in the Plan are solely for
      convenience and shall not be relied upon in construing any provisions
      hereof.  Any reference to a section shall refer to a section of the
      Plan unless specified otherwise.

    

    10.5  
         Gender
      and
      Number.  Use of any gender in the Plan will be deemed to
      include all genders when appropriate, and use of the singular number will be
      deemed to include the plural when appropriate, and vice versa in each
      instance.

    

    10.6      Assignment
      of
      Benefits.  The right of a Participant or Beneficiary to
      receive payments under the Plan may not be anticipated, alienated, sold,
      assigned, transferred, pledged, encumbered, attached or garnished by creditors
      of such Participant or Beneficiary, except by will or by the laws of descent
      and
      distribution and then only to the extent permitted under the terms of the
      Plan.

    

    10.7      Legally
      Incompetent.  The Plan Administrator, in its sole
      discretion, may direct that payment be made to an incompetent or disabled
      person, for whatever reason, to the guardian of such person or to the person
      having custody of such person, without further liability on the part of a
      Participating Company for the amount of such payment to the person on whose
      account such payment is made.

    

    10.8      Entire
      Document.  This Plan document sets forth the entire Plan
      and all rights and limits.  Except for a formal amendment hereto, no
      document shall modify the Plan or create any additional rights or
      benefits.

    

    
       

      
        58149.19

        
          
            23

          

          
            
            

            
              

            

          

          
            
            

          

        

      

    

    

    10.9      Governing
      Law.  The Plan shall be construed, administered and
      governed in all respects in accordance with applicable federal law (including
      ERISA) and, to the extent not preempted by federal law, in accordance with
      the
      laws of the State of Georgia.  If any provisions of this instrument
      shall be held by a court of competent jurisdiction to be invalid or
      unenforceable, the remaining provisions hereof shall continue to be fully
      effective.

     

    10.10    Plan
      to Comply with Code
      Section 409A.  Notwithstanding any provision to the
      contrary in this Plan, each provision of this Plan shall be interpreted to
      permit the deferral of compensation and the payment of deferred amounts in
      accordance with Code Section 409A and any provision that would conflict with
      such requirements shall not be valid or enforceable.

    

     

    
       

      
        58149.19

        
          
            24

          

          
            
            

            
              

            

          

          
            
            

        

      

    

    EXHIBIT
      A

    

    Participating
      Companies

    (as
      of
      January 1, 2005)

    

    

    

      
        	
                Participating
                  Company Names

              	
                Effective
                  Date

              
	 	 	 
	 	 	 
	 	 	 
	
                BellSouth
                  Advertising & Publishing Corporation

              	
                January
                  1, 1997

              
	
                BellSouth
                  Accounts Receivable Management, Inc.

              	
                October
                  1, 1999

              
	
                BellSouth
                  Affiliate Services Corporation

              	
                January
                  1, 2000

              
	
                BellSouth
                  Billing, Inc.

              	 	
                January
                  1, 1999

              
	
                BellSouth
                  Business Systems, Inc.

              	
                January
                  1, 1997

              
	
                BellSouth
                  Communication Systems, LLC

              	
                January
                  1, 1997

              
	
                BellSouth
                  Corporation

              	 	
                January
                  1, 1997

              
	
                BellSouth
                  Credit and Collections Management, Inc.

              	
                October
                  1, 1999

              
	
                BellSouth
                  Cellular Services LLC

              	
                October
                  1, 2000

              
	
                BellSouth
                  D.C., Inc.

              	 	
                January
                  1, 1997

              
	
                BellSouth
                  Entertainment, Inc.

              	 	
                January
                  1, 1997

              
	
                BellSouth
                  Intellectual Property Management Corporation

              	
                January
                  1, 1999

              
	
                BellSouth
                  Intellectual Property Marketing Corporation

              	
                January
                  1, 1999

              
	
                BellSouth
                  International ACCESS, Inc.

              	
                January
                  1, 1999

              
	
                BellSouth
                  International, Inc.

              	 	
                January
                  1, 1997

              
	
                BellSouth
                  Long Distance, Inc.

              	 	
                January
                  1, 1997

              
	
                BellSouth
                  Resources, Inc.

              	 	
                January
                  1, 1997

              
	
                BellSouth
                  Technology Group

              	 	
                July
                  1, 2001

              
	
                BellSouth
                  Telecommunications, Inc.

              	
                January
                  1, 1997

              
	
                Berry
                  Network, Inc.

              	 	
                January
                  1, 2001

              
	
                Intelligent
                  Media Ventures, LLC

              	
                January
                  1, 1997

              
	
                Intelleprop,
                  Inc.

              	 	
                January
                  1, 1999

              
	
                L.M.
                  Berry and Company

              	 	
                January
                  1, 1997

              
	
                Stevens
                  Graphics, Inc.

              	 	
                January
                  1, 1997

              
	
                Sunlink
                  Corporation

              	 	
                January
                  1, 1997

              

      

     

    
       

      
        58149.19

        Exhibit
          A

        A-1ex10ccc.htm

    

    Exhibit 10-ccc

    

    

    CINGULAR WIRELESS BLS TRANSITION
EXECUTIVE BENEFIT PLAN

    

    

    WHEREAS, Cingular Wireless
Corporation is the manager of Cingular Wireless LLC (the "Company");
and

    

    WHEREAS, BellSouth Corp. ("BellSouth"
or "BLS") maintains, for the benefit of certain highly compensated and key
management employees, the BellSouth Supplemental Life Insurance Plan, the
BellSouth Split-Dollar Life Insurance Plan (collectively hereinafter the "Life
Insurance Plans") and the BellSouth Supplemental Disability Plan (all three
plans referred to hereinafter as the "BLS Plans") (copies of the BLS Plans are
attached hereto as Exhibit A); and

    

    WHEREAS, certain former BLS
employees, who have been contributed to the Company or an affiliate of the
Company, were eligible to participate and receive benefits under the BLS Plans
(the "Transition Executives"); and

    

    WHEREAS, the Transition Executives
are identified by name and the BLS Plan(s) in which they participated on Exhibit
B hereto; and

    

    WHEREAS, the Company desires to adopt
the provisions and benefits of the BLS Plans into a new Company plan for the
Transition Executives, so that they may continue to benefit from the provisions
of the BLS Plans following their contribution to the Company; and

    

    WHEREAS, the new plan shall be known
as the Cingular Wireless BLS Transition Executive Benefit Plan (the "Cingular
Plan"); and

    

    WHEREAS, the terms of the Cingular
Plan shall incorporate by reference the terms of the BLS Plans and shall be the
same terms as in effect for the BLS Plans on December 31, 2001, including any
amendments adopted through such date, unless otherwise provided in these
resolutions or in Exhibit C hereto; and

    

    WHEREAS, the benefits provided to the
Transition Executives under the Cingular Plan shall be in lieu of the benefits
such employees would have been entitled to receive under the BLS Plans and shall
be offset against any benefits payable under the BLS Plans for any reason;
and

    

    WHEREAS, the Transition Executives,
as identified in Exhibit B, shall be the only employees of the Company and its
affiliates eligible to participate and receive benefits under the Cingular Plan
and no other employees of the Company or its affiliates shall be permitted to
participate in the Cingular Plan;

    

    NOW, THEREFORE, BE IT RESOLVED, that
the Cingular Plan, as described herein, is hereby approved and adopted as
presented to the Board; provided, the Senior Vice President of Human Resources
of the Company is hereby authorized to approve and execute a plan document for
the Cingular Plan as he deems appropriate based on the advice of
counsel;

    

    FURTHER RESOLVED, that with regard to
the Life Insurance Plans, the Company is authorized to receive an assignment of
all of BellSouth's obligations, rights and interests in the Life Insurance Plans
and any underlying policies of insurance, including the obligation to administer
the plans and pay any required company contributions;

    

    FURTHER RESOLVED, that the Cingular
Plan shall be administered by the Senior Vice President - Human Resources of the
Company and his delegates; provided, however, that the Senior Vice President -
Human Resources shall be permitted to appoint third party administrators to
assist in the administration of the Cingular Plan;

    

    FURTHER RESOLVED, that the Company
reserves the unilateral right to modify, amend or terminate the Cingular Plan at
any time for any reason, including the right to merge the Cingular Plan or any
benefit under it into another Company benefit plan that may provide for
different benefits than the Cingular Plan;

    

    FURTHER RESOLVED, that the Chief
Operating Officer, the Chief Financial Officer, and the Senior Vice President of
Human Resources of the Company are hereby authorized to approve amendments to
the Cingular Plan from time to time as they deem necessary or appropriate
consistent with the Company's employee benefit policies and based on the input
of the Human Resources division, Finance division and other applicable divisions
within the Company; provided, no such amendment which is reasonably expected to
result in an increase in annual plan expense shall be effective without the
approval of the Board;

    

    FURTHER RESOLVED, that the
appropriate officers of the Company and its affiliates are hereby authorized to
execute such other documents and to take such actions as they may deem necessary
or appropriate to implement the Cingular Plan and to carry out the intent and
purposes of the foregoing resolutions as shall be necessary to comply with the
requirements of the Internal Revenue Code, the Employee Retirement Income
Security Act and all other applicable laws; and

    

    RESOLVED, all prior actions taken by
any officer of the Corporation and any officers of the Company in connection
with the foregoing resolutions are hereby ratified.

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    EXHIBIT
A

    

    

    BellSouth
Supplemental Life Insurance Plan

    

    1.           PURPOSE

    

    The purpose of the BellSouth
Supplemental Life Insurance Plan (the "Plan") is to provide an insurance
arrangement under which BellSouth Corporation and its subsidiaries and
affiliates can assist key employees in acquiring and financing life insurance
coverage.

    

    2.           DEFINITIONS

    

    For purposes of this Plan, the
following terms have the meanings set forth below:

    

    2.01                 "Coverage
Amount" means the Policy death benefit payable under the Participant's
Policy.

    

    2.02                 "Coverage
Level" means the Single Life Coverage insurance death benefit the Employee is
eligible for under the Plan, determined based on the Employee's job
classification, in accordance with the schedule of Coverage Levels maintained by
the Plan Administrator. Provided, however, that to determine the amount of
insurance death benefit for which an Employee is eligible, the applicable amount
from the schedule of Coverage Levels shall be reduced by one hundred percent
(100%) of the amount of any Single Life Coverage insurance death benefit and by
fifty percent (50%) of the amount of any Survivorship Coverage insurance death
benefit provided to the Employee under the BellSouth Split-Dollar Life Insurance
Plan, the BellSouth Corporation Executive Life Insurance Plan, or the BellSouth
Corporation Senior Manager Life Insurance Plan.

    

    2.03                 "Disability"
means that the Participant is receiving disability benefits under any long-term
disability plan sponsored by the Employer or an affiliated entity.

    

    2.04                 "Effective
Date" means the effective date of the Plan, which is January 1,
1998.

    

    2.05                 "Employee"
means an employee or former employee of the Employer who is eligible to
participate in the Plan.

    

    2.06                 "Employer"
means BellSouth Corporation and any subsidiary or affiliate of BellSouth
Corporation which is authorized by the Plan Administrator to participate in this
Plan.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    2.07                 "Employer
Premium" means, with respect to a Participant's Policy, the Total Policy Premium
payable for the year, less the portion of the premium to be paid by the
Participant pursuant to Section 5.01 of the Plan.

    

    2.08                 "Enrollment
Age" means the Participant's age at the time of enrollment in the Plan as to the
Participant's initial Coverage Amount under the Plan, and it means the
Participant's age at a subsequent enrollment for an increased Coverage Amount as
to the increased Coverage Amount.

    

    2.09                 "Insurance
Cost" means, with respect to a Participant, the annual cost for the
Participant's Coverage Amount determined pursuant to the Insurance Cost schedule
maintained by the Plan Administrator. The Insurance Cost for a Participant shall
be determined at the time of the Participant's enrollment in the Plan, based on
the Participant's Coverage Amount and Enrollment Age, and shall not change
thereafter. A smoker rate shall be used to determine the Insurance Cost for any
Participant who is deemed a smoker by the Insurer; a nonsmoker rate shall be
used for all other Participants. A change in the Insurance Cost schedule will be
effective only as to Plan enrollments occurring after the effective date of the
change; it shall not affect the Insurance Cost for a Participant with respect to
any Coverage Amount in effect for the Participant prior to the effective date of
the change.

    

    If a Participant's coverage is in
effect for a period of less than twelve (12) months during any Policy Year, the
Participant's Insurance Cost for that year shall be determined by multiplying
the annual cost as determined from the Insurance Cost schedule by a fraction,
the numerator of which is the number of full months that the coverage is in
effect and the denominator of which is twelve (12).

    

    2.10                 "Insurer"
means, with respect to a Participant's Policy, the insurance company issuing the
insurance policy on the Participant's life (or on the joint lives of the
Participant and the Participant's spouse, in the case of a Survivorship Policy)
pursuant to the provisions of the Plan.

    

    2.11                 "Participant"
means an Employee who is participating in the Plan.

    

    2.12                 "Participant
Premium" means, with respect to each Policy Year (or portion thereof) for a
Participant, the Participant's Insurance Cost.

    

    2.13                 "Permanent
Policy" means a Participant's Policy having cash values which are projected to
be sufficient to continue to provide death benefit coverage at least equal to
the Participant's Coverage Amount until the policy maturity date specified in
the Participant's Policy (determined without regard to any Policy rider which
extends the maturity date  beyond the originally scheduled policy
maturity date), and which is projected to have a cash accumulation value equal
to at least ninety-five percent (95%) of the Policy Coverage Amount at the
maturity date specified in such Policy, with no further premium payments. The
determination of whether a Policy is at a given time a Permanent Policy shall be
made by the Plan Administrator, based on Policy projections provided by the
Insurer or its agent utilizing the Policy's then current mortality rates and
Policy expenses, and the following Policy interest crediting rates. For the
Policy Year in which the determination is made and for all prior Policy years,
if any, the Policy projection shall be based on the actual interest crediting
rates in effect for the Policy (or, if such rate is not known when the
determination is made, the actual rate in effect for the preceding Policy Year).
For each of the ten (10) succeeding Policy Years, the projections shall reflect
that rate decreased ratably such that the rate for the tenth Policy Year
following the Policy Year in which the determination is made shall be five
percent (5%). For all successive Policy Years, the projection shall reflect a
five percent (5%) Policy interest crediting rate. Notwithstanding the foregoing,
if the interest crediting rate in effect for the Policy Year in which the
determination is made is less than five percent (5%), the projections shall
reflect such lower rate for all Policy Years thereafter.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    2.14                 "Plan"
means the BellSouth Supplemental Life Insurance Plan, embodied
herein.

    

    2.15                 "Plan
Administrator" means the Chief Executive Officer of BellSouth Corporation and
any individual or committee he designates to act on his behalf with respect to
any or all of his responsibilities hereunder; provided, the Board of Directors
of BellSouth Corporation may designate any other person or committee to serve in
lieu of the Chief Executive Officer as the Plan Administrator with respect to
any or all of the administrative responsibilities hereunder.

    

    2.16                 "Policy"
means the life insurance coverage acquired on the life of the Participant (or on
the joint lives of the Participant and the Participant's spouse, in the case of
a Survivorship Policy) by the Participant or other Policy Owner issued pursuant
to the terms of this Plan. The Plan Administrator shall determine the specific
policies which may be acquired under the Plan, and shall maintain a list of
approved policies.

    

    2.17                 "Policy
Owner" means the Participant or that person or entity to whom the Participant
has assigned his interest in the Policy.

    

    2.18                 "Policy
Year" means the twelve month period (and each successive twelve month period)
beginning on the issue date of the Policy.

    

    2.19                 "Premium
Payment Years" means, with respect to a Participant's Policy, the number of
consecutive Policy Years, beginning with the first Policy Year, and continuing
for the longer of: (1) all Policy Years ending at the end of the Policy Year
during which the Participant attains age sixty-two (62) (or, if the Participant
dies before such time, the end of the Policy Year during which the Participant
would have attained such age); or (2) five (5) Policy Years. Notwithstanding the
foregoing, if prior to the end of such period the Policy qualifies as a
Permanent Policy, the Premium Payment Years shall end at such earlier
time.

    

    2.20                 "Retirement"
means a termination of the Participant's employment with the Employer under
circumstances where the Participant is immediately eligible to receive pension
benefits under the Supplemental Executive Retirement Plan (SERP) maintained by
the Employer or one of its subsidiaries.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    2.21                 "Single
Life Coverage" means life insurance coverage on the life of the
Participant.

    

    2.22                 "Survivorship
Coverage" means life insurance coverage on the lives of the Participant and the
Participant's spouse, with the life insurance death benefit to be payable at the
death of the last survivor of the Participant and the Participant's
spouse.

    

    2.23                 "Total
Policy Premium" means the level annual premium amount for the Participant's
Single Life Coverage Policy that is projected to result in the Policy qualifying
as a Permanent Policy if the annual premium amount is paid each year for all
scheduled Premium Payment Years, assuming the Participant qualifies for the
Insurer's guaranteed issue nonsmoker rates, or if the Participant is deemed by
the Insurer to be a smoker, the Insurer's guaranteed issue smoker rates. The
determination as to the amount of the Total Policy Premium shall be based on
Single Life Coverage even if the Participant elects Survivorship Coverage. If
more than one type of Single Life Coverage Policy is available under the Plan,
the Plan Administrator shall determine the Single Life Coverage Policy to be
used to determine the Total Policy Premium. The Total Policy Premium for a
Participant shall be determined when the Participant enrolls for coverage under
the Plan, and shall not be changed thereafter; it shall be based on the
Participant's Coverage Level, or, if less, the actual Coverage Amount elected by
the Participant.

    

    3.           ELIGIBILITY

    

    3.01                 General.
Each Employee who is designated by the Plan Administrator as a member of the
Employer's "executive compensation group" or as a "senior manager" shall be
eligible to participate in the Plan, provided that the Employee (and any other
appropriate party, such as the Employee's spouse or a Policy Owner other than
the Employee, as determined by the Plan Administrator) relinquishes any rights
to or interests in any policies providing interim coverage during the
rehabilitation of Confederation Life Insurance Company under the BellSouth
Corporation Executive  Life Insurance Plan or the BellSouth
Corporation Senior Manager Life Insurance Plan and completes such other forms as
the Plan Administrator may require. Each such Employee on the Effective Date
shall be eligible to participate in the Plan as of the Effective Date. Each
Employee subsequently satisfying such eligibility requirements shall be eligible
to participate in the Plan effective as of the first day of the calendar quarter
(i.e., January 11, April I, July 1, and October 1) following the date on which
such standards are satisfied.

    

    3.02                 Type
of Coverage. If an Employee is married at the time the Employee enrolls in the
Plan, the Employee can elect to participate in either Single Life Coverage or
Survivorship Coverage. An Employee who is unmarried at the time the Employee
enrolls in the Plan shall be eligible for Single Life Coverage only. The
election of one type of coverage shall not preclude the Participant from
electing the other type of coverage as to any increased Coverage Level the
Participant becomes eligible for pursuant to Section 4.02 of the
Plan.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    3.03                 Conversion
of Coverage. Subject to any proof of insurability required by the Insurer, a
Participant (or other Policy Owner) can elect to convert Survivorship Coverage
to Single Life Coverage, and with respect to a married Participant, the
Participant (or other Policy Owner) can elect to convert Single Life Coverage to
Survivorship Coverage. Provided, however, that the number of Premium Payment
Years for a Participant shall not be redetermined in connection with a
conversion from one type of coverage to another. Upon a conversion, the cash
values of the replaced Policy shall be transferred to the new Policy in
accordance with the Insurer's practices. Any Insurer charges or tax liability
resulting from a conversion shall be borne by the Participant or other Policy
Owner.

    

    4.           AMOUNT
OF COVERAGE

    

    4.01                 General.
An Employee who is eligible to participate in the Plan under Section 3.01 of the
Plan shall be eligible for the full Coverage Level as specified in the Plan
under Section 2.02. However, within sixty (60) days of becoming eligible to
participate, a Participant can elect a Coverage Amount which is less than the
applicable Coverage Level; provided, however, that the Coverage Amount elected
must be an even multiple of $100,000. If a Participant elects a Coverage Amount
less than the Participant's Coverage Level (or fails to elect any Coverage), the
Participant cannot later increase the Coverage Amount except in connection with
a promotion under Section 4.02 of the Plan.

    

    4.02                 Promotions.
Employees promoted to a job classification or position eligible for an increased
Coverage Level shall be eligible for the increased Coverage Level effective as
of the first day of the calendar quarter (i.e., January 11, April 11, July 1,
and October 1) following the promotion. The additional Coverage Amount available
to the Participant under this Section shall be equal to the applicable Coverage
Level after the promotion reduced by any Coverage Amounts already in effect for
a Participant. In order to be effective, any election for an increase in the
Coverage Amount must be made within the time period prescribed by the Plan
Administrator in enrollment materials provided to the Employee.

    

    4.03                 Survivorship
Coverage. If a Participant elects Survivorship Coverage, the amount of
Survivorship Coverage will be determined by the Plan Administrator based on the
Participant's age and smoker or nonsmoker status, the age and insurability of
the Participant's spouse, and based on the Participant's Total Policy Premium.
The Coverage Amount shall be the highest amount such that the Policy will
qualify as a Permanent Policy if the Total Policy Premium is paid for each year
that is a scheduled Premium Payment Year.

    

    5.           PAYMENT
OF PREMIUMS

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    5.01                 Participant
Premium Payments. A Participant shall pay the Participant Premium for each
Policy Year which is a Premium Payment Year for the Participant. The amount
shall be paid by the Participant to the Employer by payroll (or retirement
income) deductions of equal installments during the Policy Year, or in such
other manner as may be determined by the Plan Administrator. The Employer shall
pay the Participant Premium amount to the Insurer, and can do so as collected
from the Participant or can advance payments to the Insurer for a Policy Year at
any time during the Policy Year or up to thirty (30) days in advance of the
Policy Year. If a Participant terminates employment with the Employer, and the
Employer has made such an advance payment of the Participant Premium to the
Insurer, the Employer may withhold any uncollected portion of the advanced
Participant Premium from any amount payable to the Participant by the Employer
to the extent permitted by law. Notwithstanding the other provisions of this
paragraph, no Participant Premium shall be required with respect to Survivorship
Coverage after the death of the Participant.

    

    5.02                 Employer
Premium Payments. The Employer shall pay the Employer Premium for a
Participant's Policy within thirty (30) days of the beginning of each Policy
Year which is a Premium Payment Year.

    

    5.03                 Additional
Employer Premium Payments. For each of the last three (3) scheduled Premium
Payment Years for a Participant, the Plan Administrator shall determine whether
there will be any increased Employer premium payment with respect to a
Participant's Policy. The Plan Administrator shall first determine whether the
Participant's Policy is then projected to qualify as a Permanent Policy if the
Total Policy Premium is paid each year for the remaining scheduled Premium
Payment Years. If the Policy is projected to qualify as a Permanent Policy, no
increased Employer Premium payment shall be required for such Premium Payment
Year .If the projections indicate that the Policy will not qualify as a
Permanent Policy, then the amount payable by the Employer under Section 5.02
shall be increased by an amount which will result in the Policy qualifying as a
Permanent Policy if such increased amount is paid for each remaining Premium
Payment Year, but any such increase in Employer Premium shall be limited by the
maximum premium amounts permissible for such Policy under Internal Revenue Code
Sections 7702 and 7702A (or comparable successor sections) without forfeiting
any of the favorable tax attributes associated with life insurance policies. The
determination as to whether any increased amount is payable shall be made
separately for each of the last three (3) Premium Payment Years. However, the
Employer Premium payable under Section 5.02 shall not be reduced to an amount
that is less than the amount which would have been payable by the Employer for a
Premium Payment Year without regard to this Section 5.03. Regardless of the type
of coverage actually provided to a Participant, and notwithstanding any changes
in the type of coverage provided to the Participant under Section 3.03, the
increased Employer Premium payable under this Section 5.03 shall be the amount
that would be payable if the Participant had elected Single Life Coverage and
maintained such coverage for all Policy Years; also, if more than one type of
Single Life Coverage Policy is available under the Plan, the Single Life
Coverage Policy used to determine Total Policy Premium under Section 2.23 shall
be used to make the determination under this Section 5.03. In the event tax law
limits preclude the Employer from qualifying a Policy as a Permanent Policy by
the end of the last scheduled Premium Payment Year, then the Employer's
obligation to pay premiums under Section 5.02 and 5.03 (and make additional
Employer payments under Section 5.04) shall be extended until projections
indicate that the Policy qualifies as a Permanent Policy.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    5.04                 Additional
Employer Payments.

    

    a.           If
the payment of an Employer Premium under Section 5.02 (or any increased amount
under Section 5.03) results in the  recognition of income for tax
purposes by the Participant in any year, the Employer shall pay to the
Participant an amount determined by the Plan Administrator which is designed to
approximate (1) the sum of the total federal and state income taxes and
applicable payroll taxes which would be payable by the Participant at the
highest marginal rate provided for under applicable federal income tax laws, and
at the highest marginal rate provided for under applicable state income tax laws
for the state of the Participant's" tax domicile, on the income so recognized,
plus (2) the total federal and state income taxes and applicable payroll taxes
which would be payable by the Participant on the payment described in clause
(1).

    

    b.           If
the payment of any Employer Premium under Section 5.02 (or any increased amount
under Section 5.03) on Survivorship Coverage after the death of the Employee
results in the recognition of income for tax purposes by the Participant's
spouse or other Policy Owner, the Employer shall pay to the Participant's spouse
or other Policy Owner an amount determined by the Plan Administrator which is
designed to approximate the total federal and state income taxes which would be
payable by the Participant's spouse or other Policy Owner at the highest
marginal rate provided for under applicable federal income tax laws, and at the
highest marginal rate provided for under applicable state income tax laws for
the state of the tax domicile of the Participant's spouse or other Policy Owner,
attributable to such premium payment.

    

    c.           For
purposes of this Section 5.04, a tax shall be deemed payable or income shall be
deemed recognized if either (i) it is finally determined by the Internal Revenue
Service, or (ii) an opinion is given by the Employer's counsel, that the tax is
payable.

    

    d.           Any
payment made to a Participant or a Participant's spouse under this Section shall
be made no later than April 1 of the year following the year to which the
payment relates.

    

    e.           Any
amount to be paid to a Participant, a Participant's spouse, or other Policy
Owner under this Section, and the amounts payable, shall be conclusively
determined by the Plan Administrator based on generally applicable tax rates and
not based upon the unique tax situation of each Participant, Participant's
spouse, or other Policy Owner.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    5.05                 Termination
of Obligation to Pay Premiums. Notwithstanding anything herein to the contrary,
the Employer's obligation to pay premiums (including any increased amounts under
Section 5.03) with respect to the Participant's Policy, shall terminate upon the
first to occur of any of the following events:

    

    a.           Termination
of employment of the Participant with the Employer prior to the Participant's
death for reasons other than Retirement or Disability.

    

    b.           The
written notice by the Employer to the Participant following a resolution by the
Board of Directors of BellSouth Corporation to terminate this Plan.

    

    c.           As
to Single Life Coverage only, the death of the Participant.

    

    d.           As
to Survivorship Coverage only, the death of the last survivor of the Participant
and the Participant's spouse.

    

    e.           The
surrender or cancellation of the Participant's Policy, except that a Policy will
not be considered surrendered or canceled if the surrender or cancellation is in
connection with the replacement of the Policy with another Policy pursuant to
the provisions of the Plan.

    

    f.           The
withdrawal of any Policy cash values, or borrowing against Policy cash values,
by the Participant or other Policy Owner.

    

    g.           The
reduction of the Participant's Policy death benefit to a level that is less than
the initial Policy Coverage Amount, except that a conversion from Survivorship
Coverage to Single Life Coverage shall not be considered a reduction in Policy
death benefit for the purpose of this Section.

    

    h.           The
determination by the Plan Administrator that the Policy will qualify as a
Permanent Policy with no further Employer Premium payments.

    

    6.           POLICY
OWNERSHIP

    

    6.01                 Ownership.
The Policy Owner shall be the sole and exclusive owner of a Participant's Policy
and shall be entitled to exercise all of the rights of ownership.

    

    6.02                 Possession
of Policy. The Policy Owner shall keep possession of the Policy.

    

    7.           GOVERNING
LAWS & NOTICES

    

    7.01                 Governing
Law. This Plan shall be governed by and construed  in accordance with
the laws of the State of Georgia.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    7.02                 Notices.
All notices hereunder shall be in writing and sent by first class mail with
postage prepaid. Any notice to the Employer shall be addressed to BellSouth
Corporation at its office at 1155 Peachtree Street, N.E., Atlanta, GA
30367-6000, ATTENTION: Human Resources -Director Executive Benefits. Any notice
to the Employee shall be addressed to the Employee at the address for the
Employee maintained in the Employer's records. Any party may change the address
for such party herein set forth by giving notice of such change to the other
parties pursuant to this Section.

    

    8.           NOT
A CONTRACT OF EMPLOYMENT

    

    This Plan shall not be deemed to
constitute a contract of employment between an Employee and the Employer or a
Participant and the Employer, nor shall any provision restrict the right of the
Employer to discharge an Employee or Participant, or restrict the right of an
Employee or Participant to terminate employment.

    

    9.           AMENDMENT,
TERMINATION, ADMINISTRATION, AND SUCCESSORS CONSTRUCTION

    

    9.01                 Amendment.
The Board of Directors of BellSouth Corporation, or its delegate, shall have the
right in its sole discretion, to amend the Plan in whole or in part at any time
and from time to time. In addition, the Plan Administrator shall have the right,
in its sole discretion, to amend the Plan at any time and from time to time so
long as such amendment is not of a material nature. Notwithstanding the
foregoing, no modification or amendment shall be effective so as to decrease any
benefits of a Participant unless the Participant consents in writing to such
modification or amendment. Written notice of any material modification or
amendment shall be given promptly to each Participant.

    

    9.02                 Termination.
The Board of Directors of BellSouth Corporation may terminate the Plan without
the consent of the Participants or Employees.

    

    9.03                 Successors.
The terms and conditions of this Plan shall enure to the benefit of and bind the
Employer, the Participant, their successors, assignees, and representatives. If,
subsequent to the Effective Date of the Plan, substantially all of the stock or
assets of the Employer are acquired by another corporation or entity or if the
Employer is merged into, or consolidated with, another corporation or entity ,
then the obligations created hereunder shall be obligations of the acquirer or
successor corporation or entity.

    

    10.           PLAN
ADMINISTRATION

    

    10.01                 Individual
Administrator. If the Plan Administrator is an individual he shall act and
record his actions in writing. Any matter concerning specifically such
individual's own benefit or rights hereunder shall be determined by the Board of
Directors of BellSouth Corporation or its delegate.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    10.02                 Administrative
Committee. If the Plan Administrator is a committee, or if any of the duties or
responsibilities of the Plan Administrator are vested in a committee, action of
the Plan Administrator may be taken with or without a meeting of committee
members; provided, action shall be taken only upon the vote or other affirmative
expression of a majority of the committee members qualified to vote with respect
to such action. If a member of the committee is a Participant, he or she shall
not participate in any decision which solely affects his or her own benefit
under the Plan. For purposes of administering the Plan, the Plan Administrator
shall choose a secretary who shall keep minutes of the committee's proceedings
and all records and documents pertaining to the administration of the Plan. The
secretary may execute any certificate or other written direction on behalf of
the Plan Administrator.

    

    10.03                 Rights
and Duties of the Plan Administrator. The Plan Administrator shall administer
the Plan and shall have all powers necessary to accomplish that purpose,
including (but not limited to) the following:

    

    a.           to
construe, interpret and administer the Plan;

    

    b.           
to make determinations required by the Plan, and to maintain records regarding
Participants' Benefits hereunder;

    

    c.           
to compute and certify the amount and kinds of benefits payable to Participants,
and to determine the time and manner in which such benefits are to be
paid;

    

    d.           
to authorize all disbursements pursuant to the Plan;

    

    e.           
to maintain all the necessary records of the administration of the
Plan;

    

    f.           
to make and publish such rules and procedures for the regulation of the Plan as
are not inconsistent with the terms hereof;

    

    g.           to
designate to other individuals or entities from time to time the to designate to
other individuals or entities from time to time the performance of any of its
duties or responsibilities hereunder: and

    

    h.           to
hire agents, accountants, actuaries, consultants and legal counsel to assist in
operating and administering the Plan.

    

    The Plan Administrator shall have the
exclusive right to construe and interpret the Plan, to decide all questions of
eligibility for benefits and to determine the amount of benefits, and its
decisions on such matters shall be final and conclusive on all
parties.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    10.04                 Bond;
Compensation. The Plan Administrator and (if applicable) its members shall serve
as such without bond and without compensation for services
hereunder.

    

    11.           CLAIMS
PROCEDURE

    

    11.01                 Named
Fiduciary. The Plan Administrator is hereby designated as the named fiduciary
under this Plan.

    

    11.02                 Claims
Procedures. Any controversy or claim arising out of or relating to this Plan
shall be filed with the Plan Administrator which shall make all determinations
concerning such claim. Any decision by the Plan Administrator denying such claim
shall be in writing and shall be delivered to all parties in interest in
accordance with the notice provisions of Section 7.02 hereof. Such decision
shall set forth the reasons for denial in plain language. Pertinent provisions
of the Plan shall be cited and, where appropriate, an explanation as to how the
Employee can perfect the claim will be provided. This notice of denial of
benefits will be provided within 90 days of the Plan Administrator's receipt of
the Employee's claim for benefits. If the Plan Administrator fails to notify the
Employee of its decision regarding the claim, the claim shall be considered
denied, and the Employee shall then be permitted to proceed with the appeal as
provided in this Section.

    

    An Employee who has been completely
or partially denied a benefit shall be entitled to appeal this denial of his/her
claim by filing a written statement of his/her position with the Plan
Administrator no later than sixty (60) days after receipt of the written
notification of such claim denial. The Plan Administrator shall schedule an
opportunity for a full and fair review of the issue within thirty (30) days of
receipt of the appeal. The decision on review shall set forth specific reasons
for the decision, and sha11 cite specific references to the pertinent Plan
provisions on which the decision is based. Following the review of any
additional information submitted by the Employee, either through the hearing
process or otherwise, the Plan Administrator shall render a decision on the
review of the denied claim in the following manner:

    

    a.           The
Plan Administrator shall make its decision regarding the merits of the denied
claim within sixty (60) days following receipt of the request for review (or
within 120 days after such receipt, in a case where there are special
circumstances requiring extension of time for reviewing the appealed claim). The
Plan Administrator shall deliver the decision to the claimant in writing. If an
extension of time for reviewing the appealed claim is required because of
special circumstances, written notice of the extension shall be furnished to the
Employee prior to the commencement of the extension. If the decision on review
is not furnished within the prescribed time, the claim shall be deemed denied on
review.

    

    b.           The
decision on review shall set forth specific reasons for the decision, and shall
cite specific references to the pertinent Plan provisions on which the decision
is based.

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    General
Information About The BellSouth

    Supplemental
Life Insurance Plan

    

    NAME OF
PLAN

    

    BellSouth Supplemental Life Insurance
Plan

    

    NAME AND
ADDRESS OF EMPLOYER

    

    Various BellSouth companies
participate in this Plan. BellSouth

    Corporation's address is: 1155
Peachtree Street, N.E. Atlanta, Georgia 30309

    

    EMPLOYER
IDENTIFICATION NUMBER

    

    58-1533433

    

    PLAN
NUMBER

    

    589

    

    TYPE OF
PLAN

    

    This Plan is a welfare benefit plan
in which participants are given the opportunity to receive life insurance
coverage purchased with a combination of employer and employee
contributions.

    

    TYPE OF
ADMINISTRATION

    

    Benefits are provided through
insurance contracts purchased under the terms of the Plan. The Plan is
administered by BellSouth Corporation.

    

    CLAIMS
PROCEDURE

    

    Claims for insurance benefits under
the Plan are handled by and should be directed to the Plan
Administrator.

    

    PLAN
YEAR

    

    The Plan Year is the period beginning
each January 1 and ending each December 31 during which the Plan is in
effect.

    

    END OF
YEAR FOR FISCAL YEAR PURPOSES

    

    December 31

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    NAME,
BUSINESS ADDRESS AND TELEPHONE NUMBER OF PLAN ADMINISTRATOR

    

    BellSouth Corporation

    1155 Peachtree Street,
N.E.

    Atlanta, Georgia
30309-3610

    Attn.: Director Executive
Benefits

    (404) 249-2228

    

    SERVICE
OF LEGAL PROCESS

    

    Service of legal process may be made
upon the Plan Administrator.

    

    EFFECTIVE
DATE

    

    The Effective Date of the Plan is
January 1, 1998.

    

    PARTICIPANT'S
RIGHTS UNDER ERISA

    

    Participants in the Plan are entitled
to certain rights and protections under the Employee Retirement Income Security
Act of 1974 ("ERISA"). ERISA provides that each Plan participant
may:

    

    (1)              Examine,
without charge, all Plan documents, and copies of all documents files by the
Plan with the U.S. Department of Labor, such as detailed annual reports and Plan
descriptions, if applicable.

    

    (2)              Obtain
copies of all Plan documents and other Plan information upon written request to
the Plan Administrator. The Administrator may make a reasonable charge for
copies;

    

    (3)              Receive
a summary of the Plan's annual financial report. The Plan Administrator is
required by law to furnish each participant with a copy of this summary annual
report;

    

    You should also be aware of the
following protections afforded by ERISA:

    

    (1)              The
people who operate the Plan, called "fiduciaries," must act prudently and in the
interest of you and other Plan participants and beneficiaries.

    

    (2)              No
one may interfere with the exercise of any rights which you have under the Plan
or ERISA.

    

    (3)              If
your claim for a benefit is denied in whole or in part, you must receive a
written explanation of the reason for denial.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (4)              You
have the right to have the Plan Administrator review and reconsider your
claim.

    

    Under ERISA, there are steps you can
take to enforce the above rights. If you request materials from the Plan and do
not receive them within 30 days, you may choose to file suit in a federal court.
If the court finds that you are entitled to receive those materials, it may
require the Plan Administrator to provide the materials and pay you a daily
penalty until you receive them. However, if the documents were not sent because
of reasons beyond the control of the Plan Administrator, he will not be
penalized. If you have a claim for benefits which is denied or ignored, in whole
or in part, you may choose to file suit in a state or federal court. If it
should happen that Plan fiduciaries misuse the Plan's money, or if you are
discriminated against for asserting your rights, you may seek assistance from
the U. S. Department of Labor, or you may file suit in a federal court. The
court will decide who should pay court costs and legal fees. If you lose, the
court may order you to pay these costs and fees, if, for example, it finds your
claim frivolous.

    

    If you have any questions about this
statement or about your rights under ERISA, you should contact the nearest Area
Office of the U.S. Labor Management Services Administration Department of
Labor.

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    BELLSOUTH
SPLIT-DOLLAR LIFE INSURANCE PLAN

    

    

    1.              PURPOSE

    

    The purpose of the BellSouth
Split-Dollar Life Insurance Plan (the “Plan”) is to provide a split-dollar
insurance arrangement under which BellSouth Corporation and its subsidiaries and
affiliates can assist key employees in acquiring and financing life insurance
coverage. This Plan incorporates the provisions of the BellSouth Corporation
Executive Life Insurance Plan and the BellSouth Corporation Senior Manager Life
Insurance Plan, as amended as of the effective date of this Plan (the "Prior
Plans”), and, as of such effective date, shall be deemed to constitute a
complete restatement of both Prior Plans, as amended (except to the extent
otherwise specifically provided in Section 3.01 of this Plan).

    

    2.              DEFINITIONS

    

    For purposes of this Plan, the
following terms have the meanings set forth below:

    

    2.01              "Agreement"
means the agreement executed between the Employer and a Participant implementing
the terms of this Plan, substantially in the form attached hereto as Exhibit
A.

    

    2.02              "Assignment"
means the collateral assignment executed by the Policy Owner, substantially in
the form attached hereto as Exhibit B.

    

    2.03              "Coverage
Amount" means the face amount of the insurance death benefit provided to a
Participant under the Plan, as specified in the Participant's
Agreement.

    

    2.04              "Disability"
means that the Participant is receiving disability benefits under any long-term
disability plan sponsored by the Employer or an affiliated entity.

    

    2.05              "Effective
Date" means the effective date of the Plan, which is January 1,
1998.

    

    2.06              "Employee"
means an employee or former employee of the Employer who is eligible to
participate in the Plan.

    

    2.07              "Employer"
means BellSouth Corporation and any subsidiary or affiliate of BellSouth
Corporation which is authorized by the Plan Administrator to participate in this
Plan.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    2.08              "Employer
Account" means, with respect to a Participant's Policy, a bookkeeping entry
maintained by the Employer pursuant to Section 6 of the Plan, equal to the
lesser of (1) the cash value of the Policy, or (2) the amount of Policy premiums
paid by the Employer (and not collected from the Participant). With respect to a
Replacement Policy, the amount of Policy premiums paid by the Employer shall be
deemed to include the total of all such premiums paid on the Replacement Policy
and the Replaced Policy, reduced by an amount equal to that portion of the
Replaced Policy Cash Value, if any, paid to the Employer at the time the
Replacement Policy is issued.

    

    2.09              "Employer
Premium" means, with respect to a Participant's Policy, the total Policy premium
payable for the Policy Year by the Company as specified in the Participant's
Agreement, less the portion of the premium to be paid by the Participant
pursuant to Section 5.01 of the Plan.

    

    2.10              "Enrollment
Age" means the Participant's age at the time of enrollment in the Prior Plans as
to the Participant's initial Coverage Amount, and it means the Participant's age
at a subsequent enrollment for an increased Coverage Amount as to the increased
Coverage Amount; provided, however, that with respect to a Replacement Policy,
the age at enrollment shall mean the age at the time of enrollment for the
Replaced Policy.

    

    2.11              "Insurance
Cost" means, with respect to a Participant, the annual cost for the
Participant's Coverage Amount determined pursuant to the Insurance Cost schedule
maintained by the Plan Administrator. The Insurance Cost for a Participant shall
be determined as of the time of the Participant's enrollment in the Prior
Plan(s), based on the Participant's Coverage Amount and Enrollment Age. and
shall not change thereafter. A smoker rate shall be used to determine the
Insurance Cost for any, Participant who smoked cigarettes at any time during the
twelve month period immediately preceding the Participant's enrollment; a
nonsmoker rate shall be used for all other Participants. However,
notwithstanding the previous sentence, if a Replacement Policy is issued for a
Participant and the Participant qualifies as a nonsmoker for the Replacement
Policy, the nonsmoker rate shall thereafter be used to determine the Insurance
Cost for the Participant. If a Participant's coverage is in effect for a period
of less than twelve (12) months during any Policy Year, the Participant's
Insurance Cost for that year shall be determined by multiplying the annual cost
as determined from the insurance cost schedule by a fraction, the numerator of
which is the number of full months that the coverage is in effect and the
denominator of which is twelve (12).

    

    2.12              "Insurer"
means, with respect to a Participant's Policy, the insurance company issuing the
insurance policy or group policy certificate on the Participant's life (or on
the joint lives of the Participant and the Participant's spouse) pursuant to the
provisions of the Plan.

    

    2.13              "Participant"
means an Employee who is participating in the Plan.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    2.14              "Participant
Account" means, with respect to a Participant's Policy, a bookkeeping entry
maintained by the Employer pursuant to Section 6 of the Plan, equal to the
excess, if any, of the cash value of the Policy over the Employer
Account.

    

    2.15              "Participant
Premium" means, with respect to each Policy Year (or portion thereof) for a
Participant, the greater of (1) the Participant's Insurance Cost; or (2) the one
year term cost for the Policy Year  (or portion thereof) determined
based on the Participant's age at the beginning of the Policy Year, the
Insurer's published one year term rates in effect at the beginning of the Policy
Year, and the Participant's Coverage Amount under the Plan. The one year term
cost amount shall be determined pursuant to the guidelines set forth in Revenue
Ruling 66-110, 1966-1 C.B. 12, and Revenue Ruling 67-154, 1967-1 C.B. 11, and
shall be conclusively determined by the Plan Administrator.

    

    2.16              "Permanent
Policy" means a Participant's Policy having cash values which are projected to
be sufficient to continue to provide death benefit coverage at least equal to
the Participant's Coverage Amount until the policy maturity date specified in
the Participant's Policy (determined without regard to any Policy rider which
extends the maturity date beyond the originally scheduled policy maturity date
), and which is projected to have a cash accumulation value equal to at least
ninety-five percent (95% ) of the Policy Coverage Amount at the maturity date
specified in such Policy, with no further premium payments, following a
withdrawal by the Employer of all amounts to which it is entitled pursuant to
Section 8.02e or Section 8.03. A determination as to whether a Policy is at a
given, time a Permanent Policy shall be made by the Plan Administrator, and
shall be based on Policy projections provided by the Insurer or its agent
utilizing the Policy's then current mortality rates and Policy expenses, and the
following Policy interest crediting rates. For the Policy Year of the Employer
withdrawal made pursuant to Section 8.02e or Section 8.03, the projections shall
reflect the actual Policy interest crediting rate in effect for such year ( or,
if such rate is not known when the determination is made, the actual rate in
effect for the preceding Policy Year). For each of the ten (10) succeeding
Policy Years, the projections shall reflect that rate decreased ratably such
that the rate in the tenth Policy Year following the Policy Year in which the
Employer withdrawal occurs will be five percent (5%). For all successive Policy
Years, the projections shall reflect a five percent (5%) Policy interest
crediting rate. Notwithstanding the foregoing, if the actual Policy interest
crediting rate in effect when the determination is made is less than five
percent (5%), the projections shall reflect such lower rate for the Policy Year
of the Employer withdrawal and all subsequent Policy Years.

    

    2.17              "Plan"
means the BellSouth Split-Dollar Life Insurance Plan. Except as otherwise
provided in Section 3.01, with respect to each Participant who participated in
the BellSouth Corporation Executive Life Insurance Plan, the Plan shall be
construed and interpreted as a restatement of the provisions of such plan, as
amended; and, with respect to each Participant who participated in the BellSouth
Corporation Senior Manager Life Insurance Plan, the Plan shall be construed and
interpreted as a restatement of such plan, as amended.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    2.18              "Plan
Administrator" means the Chief Executive Officer of BellSouth Corporation and
any individual or committee he designates to act on his behalf with respect to
any or all of his responsibilities hereunder; provided, the Board of Directors
of BellSouth Corporation may designate any other person or committee to serve in
lieu of the Chief Executive Officer as the Plan Administrator with respect to
any or all of the administrative responsibilities hereunder.

    

    2.19              "Policy"
means the life insurance coverage acquired on the life of the Participant (or on
the joint lives of the Participant and the Participant's spouse) by the
Participant or other Policy Owner, which may be issued as a separate insurance
policy or a certificate under a group policy.

    

    2.20              "Policy
Owner" means the Participant or that person or entity to whom the Participant
has assigned his interest in the Policy. In the case of a Replacement Policy
issued to replace a Policy for which the Policy Owner is other than the
Participant, the Policy Owner of the Replacement Policy shall be the same as the
Policy Owner of the Policy being replaced, unless elected otherwise by such
Policy Owner.

    

    2.21              "Policy
Year" means the twelve month period (and each successive twelve month period)
beginning on the effective date of the Agreement.

    

    2.22              "Premium
Payment Years" means, with respect to a Participant's Policy, the number of
consecutive Policy Years (including, for a Replacement Policy, the number of
Policy Years during which the Replaced Policy was in force), beginning with the
first Policy Year, during which the Employer is required to pay a Policy
premium, as specified in the Participant's Agreement.

    

    2.23              "Replaced
Policy" means a Policy which has been replaced by a Replacement Policy. If a
Participant's Policy has been replaced more than one time, then the term
Replaced Policy shall include all prior Policies.

    

    2.24              "Replaced
Policy Cash Value" means the cash value of the Replaced Policy on the Effective
Date.

    

    2.25              "Replacement
Policy" means a Policy issued to replace a Policy previously issued under the
Plan.

    

    2.26              "Retirement"
means a termination of the Participant's employment with the Employer under
circumstances where the Participant is immediately eligible to receive pension
benefits under the Supplemental Executive Retirement Plan (SERP) maintained by
the Employer or one of its subsidiaries.

    

    2.27              "Single
Life Coverage" means life insurance coverage on the life of the
Participant.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    2.28              "Survivorship
Coverage" means life insurance coverage on the lives of the Participant and the
Participant's spouse, with the life insurance death benefit to be payable at the
death of the last survivor of the Participant and the Participant's
spouse.

    

    2.29              "Terminated
for Cause" means, with respect to a Participant, the termination of the
Participant's employment with the Employer due to: (i) fraud, misappropriation,
embezzlement, or intentional material damage to the property or business of the
Employer; (ii) commission of a felony involving moral turpitude of which the
Participant is finally adjudicated guilty; or (iii) continuance of either
willful and repeated failure or grossly negligent and repeated failure by the
Participant to materially perform his duties.

    

    3.              ELIGIBILITY

    

    3.01              General.
Each Employee with a Prior Plan Agreement in effect on the day preceding the
Effective Date shall be eligible to participate in the Plan, provided that the
Employee (and any other appropriate party, such as the Employee's spouse or a
Policy Owner other than the Employee, as determined by the Plan Administrator)
executes an Agreement consenting to the terms of this Plan, as amended, and
completes such other forms as the Plan Administrator shall require. Any Employee
eligible to participate who fails to execute (or secure execution of) an
Agreement consenting to the terms of this Plan, as amended, by August 31, 1998,
shall not be eligible for coverage under the Plan, but shall remain subject to
the terms and conditions of the Prior Plan(s) in which such Employee
participates as in effect on the day preceding the Effective Date, as amended
thereafter from time to time.

    

    3.02              Type
of Coverage. The type(s) of coverage for a Participant on the Effective Date
shall be the type(s) of coverage in place on the day preceding the Effective
Date pursuant to the Participant's Agreement(s) under the Prior Plan(s).
Provided, however, that the Policy Owner may make a one-time election to
exchange Survivorship Coverage for Single Life Coverage (equal to fifty percent
(50%) of the Participant's Survivorship Coverage Amount), or to exchange Single
Life Coverage for Survivorship Coverage (equal to two hundred percent (200%) of
the Participant's Single Life Coverage Amount), subject to any proof of
insurability required by the Insurer. Such an election must be made by August
31, 1998. If an unmarried Participant enrolls for Single Life Coverage and
subsequently marries, then, subject to the approval of the Plan Administrator,
the Participant (or other Policy Owner) shall have the right to make an
election, exercisable no later than one hundred eighty (180) days following the
marriage, to convert (subject to any proof of insurability required by the
Insurer) the Single Life Coverage to Survivorship Coverage (with the Coverage
Amount equal to two hundred percent (200%) of the Single Life Coverage Amount).
If a married Participant enrolls for Survivorship Coverage and subsequently
divorces, then, subject to the approval of the Plan Administrator, the
Participant (or other Policy Owner) shall have the right to make an election,
exercisable no later than one hundred eighty (180) days following the
finalization of the divorce, to convert (subject to any proof of insurability
required by the Insurer) the Survivorship Coverage to Single Life Coverage (with
the Coverage Amount equal to fifty percent (50%) of the Survivorship Coverage
Amount). Under no other circumstances shall a Participant (or other Policy
Owner) have any right to change an election as to type of coverage after the
coverage becomes effective. Any Insurer charges or tax liability resulting from
a conversion shall be borne by the Participant or other Policy
Owner.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4.              AMOUNT
OF COVERAGE

    

    The Coverage Amount for a Participant
shall be the amount specified in the Participant's Agreement.

    

    5.              PAYMENT
OF PREMIUMS; PAYMENT OF CERTAIN TAXES

    

    5.01              Participant
Premium Payments. A Participant shall pay the Participant Premium for each
Policy Year which is a Premium Payment Year for the Participant. The amount
shall be paid by the Participant to the Employer by payroll (or retirement
income) deductions of equal installments during the Policy Year, or in such
other manner as may be agreed to between the Plan Administrator and the
Participant. The Employer shall pay the Participant Premium amount to the
Insurer, and can do so as collected from the Participant or can advance payments
to the Insurer for a Policy Year at any time during the Policy Year or up to
thirty (30) days in advance of the Policy Year. If a Participant terminates
employment with the Employer, and the Employer has made such an advance payment
of the Participant Premium to the Insurer, the Employer may withhold any
uncollected portion of the advanced Participant Premium from any amount payable
to the Participant by the Employer to the extent permitted by law.
Notwithstanding the other provisions of this paragraph, no Participant Premium
shall be required with respect to Survivorship Coverage after the death of the
Participant, and no Participant Premium shall be required after termination of
the Participant's Agreement pursuant to Section 8.01.

    

    5.02              Employer
Premium Payments. The Employer shall pay the Employer Premium for a
Participant's Policy within thirty (30) days of the beginning of each Policy
Year which is a Premium Payment Year. However, no Employer Premium shall be
required: (1) after the Participant's Agreement terminates pursuant to Section
8.01; or, (2) for a Policy Year if the Employer withdrawal and release of
Assignment under Section 8.03 would have occurred at the end of the prior Policy
year but for the requirement in Section 8.03 that the Policy not constitute a
Modified Endowment Contract following such withdrawal. Also, if the payment of
the Employer Premium for a Policy year would cause the Participant's Policy to
constitute a Modified Endowment Contract (as such term is defined in Section
7702A of the Internal Revenue Code), then the Employer Premium amount for such
Policy year shall be reduced to the largest such amount that can be paid without
causing the Policy to constitute a Modified Endowment Contract. The Employer
may, but shall not be required to, make additional premium payments with respect
to a Participant's Policy after the last Premium Payment Year.

    

    5.03              Additional
Employer Payments

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    a.              If,
during any year which is not a Premium Payment Year, participation in the Plan
results in the recognition of income for tax purposes by the Participant for the
economic benefit to the Participant as described in, e.g., Revenue Ruling
64-328, 1964-2 C.8.11, the Employer shall pay to the Participant an amount
determined by the Plan Administrator which is designed to approximate the (1)
sum of the total federal and state income taxes and applicable payroll taxes
which would be payable by the Participant at the highest marginal rate provided
for under applicable federal income tax laws, and at the highest marginal rate
provided for under applicable state income tax laws for the state of the
Participant's tax domicile, on the income so recognized, plus (2) the total
federal and state income taxes and applicable payroll taxes which would be
payable by the Participant on the payment described in clause (1). Any payment
to be made under this subsection a. shall be made no later than April 1 of the
year following the year to which the payment relates.

    

    b.              If,
with respect to Survivorship Coverage after the death of the Participant,
participation in the Plan results in the recognition of income for tax purposes
by the Participant's spouse or other Policy Owner for the economic benefit to
the Participant's spouse or other Policy Owner as described in, e.g., Revenue
Ruling 64-328, 1964-2 C.8.11, the Employer shall pay to the Participant's spouse
or other Policy Owner an amount determined by the Plan Administrator which is
designed to approximate the total federal and state income taxes which would be
payable by the, Participant's spouse or other Policy Owner at the highest
marginal rate provided for under applicable federal income tax laws, and the
highest marginal rate provided for under applicable state income tax laws for
the state of the tax domicile of the Participant's spouse or other Policy Owner,
on the income so recognized. Any payment, to be made under this subsection b.
shall be made no later than April 1 of the year following the year to which the
payment relates.

    

    c.              If
the termination of the Employer's interest in a Participant's Policy pursuant to
Section 8.03 of the Plan results in the recognition of income for tax purposes
by the Participant, the Employer shall pay to the Participant an amount
determined by the Plan Administrator which is designed to approximate the total
federal and state income taxes which would be payable by the Participant at the
highest marginal rate provided for under applicable federal income tax laws, and
at the highest marginal rate provided for under applicable state income tax laws
for the state of the Participant's tax domicile, attributable to such
termination. Such payment shall be made immediately following the termination of
the Employer's interest in the Policy or, if later, at such time as a
determination is made that such a tax is payable.

    

    d.              For
purposes of this Section 5.03, a tax shall be deemed payable or income shall be
deemed recognized, if either (i) it is finally determined by the Internal
Revenue Service, or (ii) an opinion is given by the Employer's counsel, that the
tax is payable.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    e.              Any
amount to be paid to a Participant, a Participant's spouse, or other Policy
Owner under this Section, and the amounts payable, shall be conclusively
determined by the Plan Administrator, based on generally applicable tax rates
and not based upon the unique tax situation of each Participant, Participant's
spouse, or other Policy Owner.

    

    6.              ACCOUNTS

    

    With respect to each Policy covered
by an Agreement made under this Plan, the Employer shall maintain bookkeeping
entries reflecting the Employer Account and Participant Account
values.

    

    7.              POLICY
OWNERSHIP

    

    7.01              Ownership.
Except as otherwise provided in this Plan, the Policy Owner shall be the sole
and exclusive owner of a Participant's Policy and shall be entitled to exercise
all of the rights of ownership including, but not limited to, the right to
designate the beneficiary or beneficiaries to receive payment of the portion of
the death benefit under the Policy equal to the Coverage Amount, and the right
to assign any part or all of the Policy Owner's interest in the Policy (subject
to the Employer's rights, the terms and conditions of the Assignment specified
in Section 7.02 of the Plan, and the terms and conditions of this Plan) to any
person, entity or trust by the execution of a written instrument delivered to
the Employer.

    

    7.02              Employer's
Rights. In exchange for the Employer's agreement to pay the amounts described in
Sections 5.02 and 5.03 of this Plan, the Policy Owner shall execute an
Assignment to the Employer of the rights provided to the Employer under this
Plan. The Employer shall have the right to direct the Policy Owner in writing to
take any action required consistent with these rights, and upon the receipt of
such written direction from the Employer, the Policy Owner shall promptly take
such action as is necessary to comply therewith. The Employer agrees that it
shall not exercise any rights assigned to it in the Assignment in any way that
might impair or defeat the rights and interest of the Policy Owner under this
Plan. The Employer shall have the right to assign any part or all of its
interest in the Policy (subject to the Policy Owner's rights and the terms and
conditions of this Plan) to any person, entity or trust by the execution of a
written instrument delivered to the Policy Owner.

    

    7.03              Possession
of Policy. The Employer shall keep possession of the Policy. The Employer agrees
to make the Policy available to the Policy Owner or to the Insurer from time to
time for the purposes of endorsing or filing any change of beneficiary on the
Policy or exercising any other rights as the owner of the Policy, but the Policy
shall promptly be returned to the Employer.

    

    7.04              Policy
Loans. Except as otherwise specifically provided for in Section 8 of this Plan,
neither the Employer nor the Policy Owner may borrow against the Policy cash
values.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    7.05              Withdrawals
and Surrender. Except as otherwise specifically provided for in Section 8 of
this Plan, neither the Employer nor the Policy Owner may withdraw Policy cash
values or surrender all or a portion of the Policy. Provided, however, that a
cancellation or exchange of a Replaced Policy in connection with the acquisition
of a Replacement Policy shall not be deemed a withdrawal from or surrender of
the Replaced Policy.

    

    8.              TERMINATION
OF AGREEMENT

    

    8.01              Termination
Events. Notwithstanding anything herein to the contrary, the Participant's
Agreement, the Employer's obligation to pay premiums with respect to the
Participant's Policy acquired pursuant to the Agreement, shall terminate upon
the first to occur of any of the following events:

    

    a.              Termination
of employment of the Participant with the Employer prior to the Participant's
death for reasons other than Retirement or Disability.

    

    b.              Termination
of the Participant's Agreement by mutual agreement of the Participant and the
Employer.

    

    c.              A
unilateral election by the Participant to terminate the Participant's Agreement;
provided, however, that such an election may be made by a Participant only
within sixty (60) days following the end of the last Premium Payment Year for
the Participant's Policy.

    

    d.              The
written notice by the Employer to the Participant following a resolution by the
Board of Directors of BellSouth Corporation to terminate this Plan and all
Agreements made under the Plan.

    

    e.              As
to Single Life Coverage only, the death of the Participant.

    

    f.              As
to Survivorship Coverage only, the death of the last survivor of the Participant
and the Participant's spouse.

    

    g.              After
the release of Assignment pursuant to Section 8.03.

    

    8.02              Disposition
of Policy

    

    a.              In
the event of a termination of a Participant's Agreement under Section 8.01 a or
b of the Plan, the Policy owner shall be entitled to acquire the Employer's
rights under the Participant's Policy by paying to the Employer an amount equal
to the Employer Account; alternatively, the Policy Owner can require the
Employer to withdraw a portion of the cash values from the Participant's Policy,
partially surrender the Policy, or borrow a portion of the cash values from the
Participant's Policy, with the amount to be specified by the Policy Owner, and
the Policy Owner's required payment to the Employer under this Section shall
thereby be reduced to an amount equal to the excess of the Employer Account over
the amount withdrawn, received upon partial surrender, or borrowed by the
Employer (for these purposes, the amount withdrawn, received upon partial
surrender, or borrowed shall refer to the amount 

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    actually
received by the Employer after the application of any charges, such as surrender
charges, applicable to the withdrawal, partial surrender, or borrowing). The
Policy Owner may exercise this right to acquire the Employer's interest in the
Policy by so notifying the Employer within ninety (90) days after an event of
termination under Section 8.01a or b of this Plan has occurred. Within thirty
(30) days after receipt of such notice, the Employer shall make any required
withdrawal, partial surrender, or policy loan and the Policy Owner shall pay the
Employer the applicable payment, if any. Upon receipt of payment from the Policy
Owner, or immediately following the withdrawal, partial surrender, or policy
loan if no payment is required, the Employer shall release the Assignment and
the Policy Owner shall have all rights, title, and interest in the Policy free
of all provisions and restrictions of the Assignment, the Agreement and this
Plan.

     

    b.              Notwithstanding
the provisions of Section 8.02a, if the Participant is Terminated for Cause by
the Employer, then the Policy Owner shall have no right to acquire the
Employer's interest in the Policy.

    

    c.              If
the Policy Owner fails to exercise his right to acquire the Employer's interest
in the Policy pursuant to Section 8.02a or is precluded from exercising such
right pursuant to Section 8.02b, the Policy Owner shall transfer title to the
Policy to the Employer, free of all provisions and restrictions of the
Assignment, the Participant's Agreement and this Plan.

    

    d.              In
the event of a termination of a Participant's Agreement pursuant to the
Participant's election under Section 8.01 c, the Employer shall receive from the
Participant's Policy an amount equal to the Employer Account, with such amount
to be received through a withdrawal, partial surrender, policy loan, or some
combination thereof, as determined by the Employer. Immediately thereafter, the
Employer shall release the Assignment and the Policy Owner shall have all
rights, title and interest in the Policy free of all provisions and restrictions
of the Assignment, the Participant's Agreement, and this Plan.

    

    e.              Notwithstanding
the provisions of Section 2.08 to the contrary, in the event of a termination of
a Participant's Agreement under Section 8.01d, prior to the application of
Section 8.02, the Employer Account shall be reduced to an amount equal to the
excess, if any, of the cash values of the Policy over the amount of cash value
necessary in order for such Policy to immediately qualify as a Permanent Policy
after withdrawal of such excess amount. The Employer shall receive from the
Policy the reduced Employer Account value and, with such amount to be received
through a withdrawal, partial surrender, policy loan, or some combination
thereof, as determined by the Employer, and shall, within thirty (30) days of
the Plan termination, release the Assignment and the Policy Owner shall have all
rights, title, and interest in the Policy free of all provisions and
restrictions of the Assignment, the Agreement and this Plan.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    8.03              Release
of Assignment. At the end of each Policy Year for a Participant's Policy, the
Plan Administrator shall determine whether a withdrawal from the Policy by the
Employer of an amount equal to the Employer Account, and a release of the
Assignment, shall occur with respect to the Participant's Policy. Such
withdrawal and release shall be made within ninety (90) days after the end of
the first Policy Year as of the end of which: (1) the Participant's Policy would
qualify as a Permanent Policy following such withdrawal by the Employer; and,
(2) the Participant's Policy would not constitute a Modified Endowment Contract
(as such term is defined in Section 7702A of the Internal Revenue Code)
following such withdrawal. The Employer withdrawal shall be made though a
withdrawal, partial surrender, or policy loan, or some combination thereof, as
determined by the Employer. Immediately after receiving the proceeds of the
withdrawal, partial surrender, or policy loan, the Employer shall release the
Assignment and the Policy Owner shall have all rights, title and interest in the
Policy free of all provisions and restrictions of the Assignment, the
Participant's Agreement and this Plan.

    

    8.04              Allocation
of Death Benefit. In the event of a termination under Section 8.01e or 8.01f of
the Plan, the death benefit under the Participant's Policy shall be divided as
follows:

    

    a.              The
beneficiary or beneficiaries of the Policy Owner shall be entitled to receive an
amount equal to the Coverage Amount.

    

    b.              The
Employer shall be entitled to receive the balance of the death
benefit.

    

    8.05              Employer
Undertakings. Upon the death of the Participant (or, in the case of Survivorship
Coverage, the death of the last survivor of the Participant and the
Participant's spouse) while the Participant's Agreement is in force, the
Employer agrees to take such action as may be necessary to obtain payment from
the Insurer of the death benefit to the beneficiaries, including, but not
limited to, providing the Insurer with an affidavit as to the amount to which
the Employer is entitled under the Agreement and this Plan.

    

    9.              GOVERNING
LAWS AND NOTICES

    

    9.01              Governing
Law. This Plan shall be governed by and construed in accordance with the laws of
the State of Georgia.

    

    9.02              Notices.   All
notices hereunder shall be in writing and sent by first class mail with postage
prepaid. Any notice to the Employer shall be addressed to BellSouth Corporation
at its office at 1155 Peachtree Street, N.E., Atlanta, GA 30367-6000, ATTENTION:
Human Resources-Director Executive Benefits. Any notice to the Employee shall be
addressed to the Employee at the address following such party's signature on his
Agreement. Any party may change the address for such party herein set forth by
giving notice of such change to the other parties pursuant to this
Section.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    10.              NOT
A CONTRACT OF EMPLOYMENT

    

    This Plan and any Agreement executed
hereunder shall not be deemed to constitute a contract of employment between an
Employee and the Employer or a Participant and the Employer, nor shall any
provision restrict the right of the Employer to discharge an Employee or
Participant, or restrict the right of an Employee or Participant to terminate
employment.

    

    11.              AMENDMENT,
TERMINATION, ADMINISTRATION, CONSTRUCTION AND SUCCESSORS

    

    11.01            Amendment.
The Board of Directors of BellSouth Corporation, or its delegate, shall have the
right in its sole discretion, to amend the Plan in whole or in part at any time
and from time to time. In addition, the Plan Administrator shall have the right,
in its sole discretion, to amend the Plan at any time and from time to time so
long as such amendment is not of a material nature. Notwithstanding the
foregoing, no modification or amendment shall be effective so as to decrease any
benefits of a Participant unless the Participant consents in writing to such
modification or amendment. Written notice of any material modification or
amendment shall be given promptly to each Participant.

    

    11.02            Termination.
The Board of Directors of BellSouth Corporation may terminate the Plan without
the consent of the Participants or Employees. Provided, however, in the event of
a termination of the Plan by the Employer, the Participants will have those
rights specified in Section 8.02e of the Plan.

    

    11.03           
Interpretation. As to the provisions of the Assignment, the Agreement and the
Plan, the provisions of the Assignment shall control. As between the Agreement
and the Plan, the provisions of the Agreement shall control.

    

    11.04            Successors.
The terms and conditions of this Plan shall endure to the benefit of and bind
the Employer, the Participant, their successors, assignees, and representatives.
If, subsequent to the Effective Date of the Plan, substantially all of the stock
or assets of the Employer are acquired by another corporation or entity or if
the Employer is merged into, or consolidated with, another corporation or
entity, then the obligations created hereunder shall be obligations of the
acquirer or successor corporation or entity.

    

    12.              PLAN
ADMINISTRATION

    

    12.01            Individual
Administrator. If the Plan Administrator is an individual, he shall act and
record his actions in writing. Any matter concerning specifically such
individual's own benefit or rights hereunder shall be determined by the Board of
Directors of BellSouth Corporation or its delegate.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    12.02            Administrative
Committee. If the Plan Administrator is a committee, or if any of the duties or
responsibilities of the Plan Administrator are vested in a committee, action of
the Plan Administrator may be taken with or without a meeting of committee
members; provided, action shall be taken only upon the vote or other affirmative
expression of a majority of the committee members qualified to vote with respect
to such action. If a member of the committee is a Participant, he shall not
participate in any decision which solely affects his own benefit under the Plan.
For purposes of administering the Plan, the Plan Administrator shall choose a
secretary who shall keep minutes of the committee's proceedings and all records
and documents pertaining to the administration of the Plan. The secretary may
execute any certificate or other written direction on behalf of the Plan
Administrator.

    

    12.03            Rights
and Duties of the Plan Administrator. The Plan Administrator shall administer
the Plan and shall have all powers necessary to accomplish that purpose,
including (but not limited to) the following:

    

    a.              to
construe, interpret and administer the Plan;

    

    b.              to
make determinations required by the Plan, and to maintain

    

    c.              records
regarding Participants' benefits hereunder;

    

    d.     to compute and
certify the amount and kinds of benefits payable to Participants, and to
determine the time and manner in which such benefits are to be
paid;

    

    e.              to
authorize all disbursements pursuant to the Plan;

    

    f.              to
maintain all the necessary records of the administration of the
Plan;

    

    g.              to
make and publish such rules and procedures for the regulation of the Plan as are
not inconsistent with the terms hereof.

    

    h.              to
designate to other individuals or entities from time to time the performance of
any of its duties or responsibilities hereunder; and

    

    i.              to
hire agents, accountants, actuaries, consultants and legal counsel to assist in
operating and administering the Plan.

    

    The Plan Administrator shall have the
exclusive right to construe and interpret the Plan, to decide all questions of
eligibility for benefits and to determine the amount of benefits, and its
decisions on such matters shall be final and conclusive on all
parties.

    

    12.04           Bond;
Compensation. The Plan Administrator and (if applicable) its members shall serve
as such without bond and without compensation for services
hereunder.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    13.              CLAIMS
PROCEDURE

    

    13.01            Named
Fiduciary. The Plan Administrator is hereby designated as the named fiduciary
under this Plan.

    

    13.02            Claims
Procedures. Any controversy or claim arising out of or relating to this Plan
shall be filed with the Plan Administrator which shall make all determinations
concerning such claim. Any decision by the Plan Administrator denying such claim
shall be in writing and shall be delivered to all parties in interest in
accordance with the notice provisions of Section 9.02 hereof. Such decision
shall set forth the reasons for denial in plain language. Pertinent provisions
of the Plan shall be cited and, where appropriate, an explanation as to how the
Employee can perfect the claim will be provided. This notice of denial of
benefits will be provided within 90 days of the Plan Administrator's receipt of
the Employee's claim for benefits. If the Plan Administrator fails to notify the
Employee of its decision regarding the claim, the claim shall be considered
denied, and the Employee shall then be permitted to proceed with the appeal as
provided in this Section.

    

    An Employee who has been completely
or partially denied a benefit shall be entitled to appeal this denial of his/her
claim by filing a written statement of his/her position with the Plan
Administrator no later than sixty (60) days after receipt of the written
notification of such claim denial. The Plan Administrator shall schedule an
opportunity for a full and fair review of the issue within thirty (30) days of
receipt of the appeal. The decision on review shall set forth specific reasons
for the decision, and shall cite specific references to the pertinent Plan
provisions on which the decision is based.

    

    Following the review of any
additional information submitted by the Employee, either through the hearing
process or otherwise, the Plan Administrator shall render a decision on the
review of the denied claim in the following manner:

    

    a.              The
Plan Administrator shall make its decision regarding the merits of the denied
claim within 60 days following receipt of the request for review (or within 120
days after such receipt, in a case where there are special circumstances
requiring extension of time for reviewing the appealed claim). The Plan
Administrator shall deliver the decision to the claimant in writing. If an
extension of time for reviewing the appealed claim is required because of
special circumstances, written notice of the extension shall be furnished to the
Employee prior to the commencement of the extension. If the decision on review
is not furnished within the prescribed time, the claim shall be deemed denied on
review.

    

    b.              The
decision on review shall set forth specific reasons for the decision, and shall
cite specific references to the pertinent Plan provisions on which the decision
is based.

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    Exhibit
"A"

    BellSouth
Split-Dollar Life Insurance Plan

    Agreement

    

    

    This Agreement is made effective as
of January l' 1998, by and between the Employer and ______________ (the
"Participant").

    

    WHEREAS, the Employer and the
Participant executed an agreement (the 'Prior Agreement') under the [BellSouth
Corporation Executive life Insurance Plan] [BellSouth Corporation Senior Manager
Life Insurance Plan] (the Prior Plan): and

    

    WHEREAS, the Prior Plan has been
amended and restated as the BellSouth Split-Dollar Life Insurance Plan (the
"Plan"): and

    

    WHEREAS, in exchange for coverage
under the Plan as amended and restated, the Participant consents and agrees to
the terms of the Plan, as amended and restated:

    

    NOW THEREFORE, in consideration of
the promises contained herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Employer and the
Participant hereby mutually covenant and agree as follows:

    

    1.           This
Agreement shall constitute an amendment and restatement of the Prior Agreement
and, as of the effective date of this Agreement, the Prior Plan and Prior
Agreement shall be tent1inated and replaced by the Plan and this
Agreement

    

    2.           The
Policy subject to this Agreement is Policy number ________________, issued by
Pacific Life Insurance Company (the  Replacement Policy, which
replaces the Replaced Policy. As of the effective date of this Agreement, no
further benefits will be provided to the Participant or Employer under the
Replaced Policy, and such Policy will be canceled.

    

    3           The
Replaced Policy Cash Value shall be transferred directly to the Replacement
Policy as of the effective date of this Agreement

    

    4.           The
Coverage Amount shall be $ __________ of [Single Life] [Survivorship]
Coverage.

    

    5           The
Premium Payment Years shall be consecutive Policy Years.

    

    6.           For
each Policy Year beginning after 1998, the total Policy premium for each year
which is a Premium Payment Year shall be $ ______________, and the Employer
Premium shall equal such total Policy premium reduced by the Participant Premium
payable by the Participant for such Policy Year.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    7.           The
Policy Owner for the Replacement Policy shall be the same as the Policy Owner
for the Replaced Policy.

    

    8.           The
Participant agrees to pay the Participant Premium contribution as specified in
the Plan, and consents to paying such amount to the Employer through regular
payroll (or retirement income) deductions.

    

    9           The
Participant has read and understands the provisions of the Plan, and agrees that
all of the terms and conditions specified in the Plan are hereby incorporated by
reference herein and form a part of this Agreement

    

    10           Subject
to the terms of the Plan, this Agreement shall not be amended or modified
without the written consent of the Participant and the Employer.

    

    11.           This
Agreement shall be governed by the laws of the State of Georgia.

    

    

    

    _________________________                  _________________________

    Date                                                                    For
the Employer

    

    

    

    _________________________                  _________________________

    Date                                                                    Signature
of Participant

    

    

                              _________________________

     

                              _________________________

     

                              _________________________

                     Address
of Participant

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    This
Assignment is made by the undersigned Policy Owner effective January
1,

    1998.

    

    

    DEFINITIONS:

    

    ASSIGNEE:                                               BellSouth
Corporation

    

    PARTICIPANT:

    

    POLICY
OWNER:

    

    INSURED(S):

    

    INSURER:                                                                    Pacific
life Insurance Company

    

    POLICY:                                                                     
 Policy # __________ issued by the insurer

    

    REPLACED
POLICY:                                                 Policy
# __________ issued by the Insurer

    

    SPLIT-DOLLAR
LIFE
INSURANCE                        That
certain Agreement executed

    PLAN
AGREEMENT (THE "AGREEMENT")        to be
effective on January 1, 1998,

                       between
the Participant and the

                       Assignee.

    

    
      	
              COVERAGE
      AMOUNT

            	
              That
      portion of the death benefit

            

    

    
      	
               

            	
              coverage
      under the Policy equal to

            

    

    
      	
               

            	
              $_______________

            

    

     

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    RECITALS:

    

    1.           The
benefits provided to the Policy Owner under the Policy replace those previously
provided under the Replaced Policy.

    

    2.           Under
the Agreement, the Assignee has agreed to assist the Policy Owner in the payment
of premiums on the Policy issued by the Insurer.

    

    3.           In
consideration of such premium payments by the Assignee, the undersigned Policy
Owner intends to grant the Assignee certain limited interests in the
Policy.

    

    THEREFORE,
for value received, it is agreed:

    

    1.           ASSIGNMENT.
The Policy Owner hereby assigns, transfers, and sets over to the Assignee, its
successors and assigns, the following specific rights in the Policy and subject
to the following tenT1S and conditions:

    

    a.           the
sole right to make withdrawals or borrow against the cash value of the Policy,
as provided in Sections 8.02a, 8.02d, 8.02e and 8.03 of the Plan;

    

    b.           the
right to receive from the Insurer upon the death of the Insured(s) the proceeds
of the Policy in excess of the Coverage Amount;

    

    c.           the
sole right to surrender all or a portion of the Policy and receive the surrender
value thereof, as provided in Sections 8.02a, 8.02d, 8.02e and 8.03 of the
Plan.

    

    2.           RETAINED
RIGHTS. Except as expressly provided in Section 1, the Policy Owner retains all
rights under the Policy including but not limited to:

    

    a.           the
right to designate and change the beneficiary; and

    

    b.           the
right to elect any optional mode of settlement entitled by the Policy or
Insurer, subject only to the Assignee's right in Section 1.(b).

    

    3.           AUTHORIZATION.
For purposes of Sections 1 and 2, the signature of either the Assignee or the
Policy Owner shall be sufficient Both the Assignee and the Policy Owner
acknowledge that between themselves, they are bound by the limitations of this
Assignment and that the Insurer will recognize the signature of
either.

    

    4.           INSURER.
The Insurer is hereby authorized to recognize, and is fully protected in
recognizing the claims of the Assignee to rights hereunder, without
investigating the reasons for such action by the Assignee, or the validity or
the amount of such claims, nor giving notice to the Policy Owner of such claims
of rights or interest to exercise such rights. Insurer reserves the right to
require signatures of both the Assignee and the Policy Owner to exercise any or
all ownership rights, as is their normal procedure.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    5.           DEATH
PROCEEDS. The Insurer shall pay to the Assignee that portion of the death
benefit to which it is entitled. Payment by the Insurer of any or all of the
death proceeds to the Assignee in reliance upon a signed authorization by any
officer of the Assignee as to the share of death proceeds due it shall be a full
discharge of the Insurer for such share and shall be binding on all parties
claiming any interest in the Policy.

    

    6.           RELEASE
OF ASSIGNMENT. Upon payment to the Assignee of those amounts due to it under the
terms of the Agreement, the Assignee shall execute a written release of this
Assignment to the Insurer who may then treat the Policy Owner of the Policy as
the sole Policy Owner for all purposes.

    

    7.           ASSIGNMENT
CONTROLS. In the event of any conflict between the provisions of this Assignment
and provisions of the Agreement with respect to the Policy or rights of
collateral assignment therein, the provisions of this Assignment shall
prevail.

    

    8.           CANCELLATION
OF REPLACED POLICY. The Policy Owner agrees that no further benefits will be
provided under the Replaced Policy, and that benefits provided under the Policy
are in lieu of the benefits previously provided under the Replaced
Policy.

    

    

    IN
TESTIMONY WHEREOF, the Policy Owner has executed this Assignment to be effective
January 1, 1998.

    

    

    ________________________

    Signature of Policy Owner

    

    

    ________________________

    Date

    

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    

    BELLSOUTH
CORPORATION

    EXECUTIVE
LONG TERM DISABILITY

    AND

    SURVIVOR
PROTECTION PLAN

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    

    BELLSOUTH
CORPORATION

    EXECUTIVE
LONG TERM DISABILITY

    AND

    SURVIVOR
PROTECTION PLAN

    

    

    TABLE OF
CONTENTS

    

    

                                                                     

     

    

    
      	 Section
      1 	 Definition	
               1

            
	 Section
      2 	 Disability
      Allowance	
               1

            
	 Section
      3   	 Group
      Life Insurance Benefit	
               10

            
	 Section
      4	 Medical
      Expense Benefit	
               11

            
	 Section
      5	 Claims
      and Appeals	
               11

            
	 Section
      6	 General
      Provision	
               11

            

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    

    BellSouth
Corporation

    Executive
Long Term Disability and

    Survivor
Protection Plan

    

    

    Section
1.                                         Definitions

    

    1.           "Plan"
shall mean the BellSouth Corporation's Executive Long Term Disability and
Survivor Protection Plan.

    

    2.           "Company"
shall mean the BellSouth Corporation, a Georgia corporation, or its
successors.

    

    3.           "Pension
Plan" shall mean the BellSouth Personal Retirement Account Pension
Plan.

    

    4.           "Disability
Benefit Plan" shall mean the Company's Short Term Disability Plan and Long-Term
Disability Plan.

    

    5.           "Supplemental
Executive Retirement Plan" shall mean the BellSouth Supplemental Executive
Retirement Plan.

    

    6.           "Short
Term Plan" shall mean the Company's Short Term Incentive Plan.

    

    7.           "Committee"
shall mean the Employee's Benefit Committee, appointed by the Company, which
shall administer the Plan.

    

    8.           (a)           "Participant,"
for purposes of the disability allowance under section 2, shall mean an employee
on the active rolls of the Company on or after the effective date of the plan
and who holds a position that the Company's Board of Directors has designated to
be within the Company's Executive Group.

    

    (b)           "Participant,"
for purposes of the BellSouth Group Life Plan benefit under Section 3, shall
mean a former employee of the Company who was a participant under a paragraph
8(a) above on the last day of employment, if such former employee is eligible to
receive a disability allowance under Section 2, or is eligible to receive a
Minimum Retirement Benefit under the Supplemental Executive Retirement
Plan.

    

    (c)           "Participant,"
for purposes of the medical benefits under Section 4, shall mean a former
employee of the Company who was a participant under paragraph 8(a) above on the
last day of employment, if such former employee is eligible to receive a
Disability Allowance under Section 2.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (d)           For
purposes of paragraphs 8(b), and 8(c), above, a former employee shall be
considered to be eligible to receive Disability Allowance under Section 2 or a
Minimum Retirement Benefit under the Supplemental Executive Retirement Plan if
he has met the conditions specified in Section 2 or the Supplemental Executive
Retirement Plan, even though the receipt of other benefits by such former
employee precludes his receipt of any benefits under Section 2 or the
Supplemental Executive Retirement Plan.

    

    9.           "Term
of Employment" shall have the same meaning as the meaning assigned to such
expression in the Pension Plan.

    

    10.           (a)           "Annual
Basic Pay," shall mean the participant's annual base salary rate (including
those amounts previously deferred pursuant to other plans) as determined by the
Company on the last day the participant was on the active payroll plus an amount
determined was on the active payroll plus an amount determined with reference to
the Short Term Incentive Plan, but excluding all other payments and all cash
payments and distributions made under the BellSouth Executive Long Term
Incentive Plan or Shareholder Return Cash Plan. The amount determined with
reference to the Short Term Incentive Plan shall be the lesser of the
participant's standard short term award in effect on the last day the
participant was on the active payroll or 60% of the participant's annual base
salary rate (including those amounts previously deferred pursuant to other
plans) on the last day participant was on active payroll.

    

    11.           The
use of personal pronouns of the masculine and feminine genders.

    

    Section
2.                                         Disability
Allowance

    

    1.            
(a)           Participant
shall be considered to be a "disabled" at any time during the first twenty-six
week period following the onset of a physical or mental impairment, if such
impairment prevents the participant from meeting the performance requirements of
the position held immediately preceding the onset of the physical or mental
impairment.

    

    (b)           A
participant shall be considered to be "disabled" after the first twenty-six week
period following the onset of a physical or mental impairment if such impairment
prevents the participant from meeting the performance requirements of (1) the
position held immediately preceding the onset of the physical or mental
impairment, (2) a similar position, or (3) any appropriate portion within the
Company which the participant would otherwise be capable of performing by reason
of the participant's background and experience.

    

    (c)           The
Committee shall make the determination of whether a participant is disabled
within the meaning of paragraphs (a) and (b) above and its determinations shall
be final and conclusive.

    

    2.           A
participant who is disabled during a period described in paragraph 1(a) shall be
eligible to receive a monthly disability allowance equal to 100 percent of the
participant's monthly base salary rate (including those amounts previously
deferred pursuant to other plans) on the last day the participant was on the
active payroll, reduced by any amounts described in paragraph 5(a) of this
Section 2 which are attributable to the period for which benefits are provided
under this paragraph.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    3.           A
participant who is disabled during a period described in paragraph 1(b) shall,
prior to his sixty-fifth birthday, be eligible to receive a monthly disability
allowance equal to the greater of (i) sixty percent or (ii) the percentage
determined by adding ten percentage points to participant's income replacement
percentage under the basic Company-sponsored long-term disability coverage, of
the participant's monthly base salary rate (including those amounts previously
deferred pursuant to other plans) on the last day the participant was on the
active payroll, reduced by any amounts described in paragraph 5(b) of this
Section 2 which are attributable to the period for which benefits are provided
under this paragraph.

    

    4.           A
participant who is disabled during a period described in paragraph 1(b) shall
commencing with his sixty-fifth birthday or the start of the period described in
paragraph 1(b), if later, be eligible to receive a monthly disability allowance
equal to the greater of:

    

    (i)           one
and one-quarter percent of the participant's annual basic pay, as defined in
paragraph 10 of Section 1, on the last day the participant was on the active
payroll, or

    

    (ii)           if
the participant's term of employment has been five years or more, ninety percent
of the sum of (a) the monthly pension the participant would have been entitled
to receive commencing at age sixty-five under the Company's Pension Plan as in
effect on the last day the participant was on the active payroll, but ignoring
any minimum service requirements for eligibility to a service pension, if the
period after the last day the participant's sixty-fifth birthday had been
included in the participant's term of employment under the Pension Plan, plus
(b) the monthly pension the participant would have been entitled to receive
commencing at age 65 under the Supplemental Executive Retirement Plan as in
effect on the last day the participant was on the active payroll, but ignoring
any minimum service requirements for eligibility to a pension if the period
after the last day the participant was on the active payroll and prior to the
participant's sixty-fifth birthday had been included in the participant's term
of employment under the Supplemental Executive Retirement Plan, reduced by any
amounts described in paragraph 5(c) of this Section 2 which are attributable to
the period for which benefits are provided under this paragraph.

    

    5.           (a)           The
disability allowance determined for any period under paragraph 2 of this Section
2 shall be reduced by the sum of the following benefits received by the
participant which are attributable to the period for which such disability
allowance is provided; a service, deferred vested, or disability pension under
the Pension Plan or the Supplemental Executive Retirement Plan, a disability
benefit under the disability benefit plan, any worker's compensation benefit,
plus any other benefit payments required by law on account of the participant's
disability. However, no reduction shall be made on account of any pension under
the Pension Plan or the Supplemental Executive Retirement Plan at a rate greater
than the rate of such pension on the date the participant first received such
pension after his disability.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (b)           The
disability allowance determined for any period under paragraph 3 of this Section
2 shall be reduced by the sum of the following benefits received by the
participant which are attributable to the period for which such disability
allowance is provided; a service, deferred vested, or disability pension under
the Pension Plan or the Supplemental Executive Retirement Plan, a disability
benefit under the disability benefit plan, any other retirement income payments
from the Company, any worker's compensation benefit, plus any Social Security
Insurance Benefit.

    

    However, no reduction shall be made
on account of any pension under the Pension Plan or the Supplemental Executive
Retirement Plan at a rate greater than the rate of such pension on the date the
participant first received such pension after his disability, and no reduction
shall be made on account of any Social Security Benefit at a rate greater than
the rate which the participant would have first been eligible to receive after
his disability and as if no other member of his family were eligible for any
Social Security Benefit.

    

    Furthermore, the Board of Directors
of the Company, in its discretion, may reduce the disability allowance by the
amount of outside compensation or earnings of the participant for work performed
by the participant during the period for which such disability allowance is
provided.

    

    (c)           The
disability allowance determined for any period under paragraph 4 of this Section
2 shall be reduced by the sum of the following benefits received by the
participant which are attributable to the period for which such disability
allowance is provided; a service, deferred vested, or disability pension under
the Pension Plan or the Supplemental Executive Retirement Plan, a disability
benefit under the disability benefit plan, any other retirement income payments
from the Company, plus any worker's compensation benefit. However, no reduction
shall be made on account of any pension under the Pension Plan or the
Supplemental Executive Retirement Plan at a rate greater than the rate of such
pension on the date the participant first received such pension after his
disability.

    

    6.           For
purposes of paragraphs 1(a) and 1(b) of this Section 2, the measurement of time
following the onset of a physical or mental impairment shall coincide with the
measurement of time used to calculate periods of disability benefits under the
disability benefit plan. Successive periods of physical or mental impairment
shall be counted together in computing the periods during which the participant
shall be entitled to the benefits provided under paragraph 2 or paragraph 3 of
this Section 2, except that any disability absence after the participant has
been continuously engaged in the performance of duty for thirteen weeks shall be
considered to commence a new period of physical or mental impairment under
paragraph 1(a), so that such participant shall be entitled during such new
period to the benefits provided under paragraph 2 of this Section
2.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    7.           With
respect to a participant not subject to mandatory retirement at age 65 under the
Age Discrimination in Employment Act (29 U.S.C. 6721 et. seq.), the period of
eligibility for the disability allowance provided in paragraph 3 of this section
2 and the period of eligibility for the disability allowance provided in
paragraph 4 of this section 2, shall be the period described in paragraph 3, and
the period described in paragraph 4, respectively, or such other period as is
required under the Age Discrimination in Employment Act or under any applicable
governing regulations or interpretations thereunder.

    

    Section
3                                         Group
Life Insurance Benefit

    

    A
participant described in paragraph 8(b) of Section 1 who has not retired on a
service or a disability pension under the Pension Plan, shall be entitled to the
same rights and benefits under the BellSouth Group Life Plan as if the employee
had retired on a service pension or a disability pension under the Pension Plan.
Benefits provided by this section shall be in lieu of any other rights to
continued coverage which a participant may have under the BellSouth Group Life
Plan.

    

    Section
4                                         Medical
Expense Benefits

    

    A
participant described in paragraph 8(c) of Section 1 who has not retired on a
service pension or a disability pension under the Pension Plan, shall be
entitled to the same rights and benefits under the Company's medical plan and
dental plan as an employee who retired on a service pension or a disability
pension under the Pension Plan.

    

    Section
5                                         Claims
and Appeals

    

    Any claim
under the Plan by a Participant or anyone claiming through a Participant shall
be presented to the Committee. Any person whose claim under the Plan has been
denied may, within 60 days after receipt of notice of denial, submit to the
Compensation Committee of the Company's Board of Directors a written request for
review of the decision denying the claim. The Compensation Committee of the
Company's Board of Directors shall determine conclusively for all parties all
questions arising in the administration of the Plan.

    

    Section
6                                         General
Provisions

    

    1.           The
Plan shall be effective on January 1, 1984.

    

    2.           
The rights of the participant or his spouse to benefits under the Plan shall not
be subject to assignment or alienation.

    

    3.           All
costs of providing the benefits under the Plan shall be charged to the operating
expense accounts of the Company when and as paid.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4.           The
Company may from time to time make changes in the Plan and the Company may
terminate the Plan. In addition, the Company's senior human resources officer
with the concurrence of the Company's general counsel shall be authorized to
make minor or administrative changes to the Plan, as well as changes dictated by
the requirements of federal or state statutes applicable to the Company or
authorized or made desirable by such statutes. Such changes or termination shall
not affect the rights of any participant or surviving spouse, without his
consent, to any benefit under the Plan to which such participant or surviving
spouse may have previously become entitled as a result of a disability, death or
termination of employment which occurred prior to the effective date of such
change or termination.

    

    5.           In
the case of accident resulting in injury to or death of a participant which
entitles the participant or his surviving spouse to benefits under the Plan, the
participant or his surviving spouse may elect to accept such benefits or to
prosecute such claims at law as the participant or the surviving spouse may have
against the Company. If election is made to accept the benefits under the Plan,
such election shall be in writing and shall release the Company from all claims
and demands which the participant or his surviving spouse may have against it,
otherwise than under this Plan or under any other Plan maintained by the
Company, on account of such accident. The Committee, in its discretion, may
require that election described above shall release any other company connected
with the accident, including any company participating in the Pension Plan. The
right of the Participant to a disability allowance under Section 2 of the Plan
shall lapse if election to accept such benefits, as above provided, is not made
within sixty days after injury, or within such greater time as the Committee
shall, by resolution duly entered on its records, fix for the making of such
election.

    

    6.           Should
claim other than under this Plan or under any other plan maintained by the
Company be presented or suit brought against the Company, against any other
company participating in the Pension Plan or against any other company for which
arrangements have been made, directly or indirectly, for interchange of benefit
obligations, as described in the Pension Plan, for damages on account of injury
or death of a participant, nothing shall be payable under this Plan on account
of such injury or death as provided in paragraph 7 of this Section 6; provided
however, that the Committee may, in its discretion and upon such terms as it may
prescribe waive this provision if such claims be withdrawn or if such suit be
discontinued.

    

    7.           In
case any judgment is recovered against the company or any settlement is made of
any claim or suit on an account of the injury or death of a participant, and the
total amount which would otherwise have been payable under the Plan and under
any other Plan maintained by the Company is greater than the amount paid on
account of such judgment or settlement, the lessor of (1) difference between
such two amounts, or (2) the amount which would otherwise have been payable
under this Plan, may in the discretion of the committee, be distributed to the
beneficiaries who would have received benefits under the Plan.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    8.           All
benefits provided under the Plan with respect to a participant shall be
forfeited and canceled in their entirely if the participant, without the consent
of the Company and while employed by the Company or after termination of such
employment, becomes associated with, becomes employed by or renders services to
or owns interest in any business (other than as a shareholder with a
non-substantial interest in such business) that is competitive with the Company
or with any business with which a subsidiary or affiliated company has a
substantial interest, as determined by the Committee. All benefits provided
under the Plan with respect to a participant shall be forfeited and canceled in
their entirety if the participant is discharged by the Company for cause or the
participant engages in misconduct in connection with the participant's
employment.

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    EXHIBIT
C

    

    CINGULAR
WIRELESS BLS EXECUTIVE TRANSITION SUPPLEMENTAL LIFE INSURANCE PLAN

    

    1.           Section
1 "Purpose" shall be restated as follows: "The purpose of the Cingular Wireless
BLS Executive Transition Supplemental Life Insurance Plan is to provide an
insurance arrangement under which Cingular Wireless LLC and its subsidiaries and
affiliates can assist key employee in acquiring and financing life insurance
coverage. The Cingular Wireless BLS Executive Transition Supplemental Life
Insurance Plan is intended as a follow on and continuation of the BellSouth
Supplemental Life Insurance Plan, as such Plan was in effect as of December 23,
2001. The terms of the BellSouth Supplemental Life Insurance Plan in effect on
December 23, 2001, except as herein amended, are incorporated by reference and
made a part of the Plan."

    

    2.           All
references in the Plan to BellSouth Corporation shall be deemed to reference to
Cingular Wireless.

    

    3.           Eligibility
and Participation. Participation in the Plan shall be limited to those former
executives who (a) were eligible to participate in the BellSouth Supplemental
Life Insurance Plan, (b) were contributed to Cingular Wireless as part of the
formation of Cingular Wireless LLC on or before December 31, 2001 and (c) are
identified by name as eligible to continue participation in this Plan on
Appendix B, hereto. No other Cingular Wireless employees are eligible to
participate in or receive benefits from the plans.

    

    4.           Section
2.01 "Coverage Amount" means the existing coverage levels as set forth in the
BellSouth Supplemental Life Insurance Plan's Participant's Policy in effect at
the employee's contribution to Cingular Wireless. Increased coverage levels will
not be available under the Cingular Wireless BLS Executive Transition
Supplemental Life Insurance Plan pursuant to Section 4.02.

    

    5.           Section
2.06 "Employer" means Cingular Wireless LLC and any subsidiary or affiliate of
Cingular Wireless LLC that is authorized by Cingular Wireless to participate in
the Plan.

    

    6.           Section
2.14 "Plan" means the Cingular Wireless BLS Executive Transition Supplemental
Life Insurance Plan.

    

    7.           Section
2.15 "Plan Administrator" means the Senior Vice President – Human Resources of
the Employer and any individual or committee he designates to act on his behalf
with respect to any or all of his responsibilities hereunder. Pursuant to
Section 9, the Senior Vice President – Human Resources shall be authorized to
modify or terminate the plan at any time.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    8.           Section
4.02 "Promotions" shall be restated as follows: "No additional coverage amounts
will be provided with respect to promotions or any other event."

    

    9.           Section
7.02 is amended to insert Cingular's address in the place of BellSouth's:
Glenridge Highlands Two, Suite 760 Executive Director-Executive Benefits, 5565
Glenridge Connector, Atlanta, GA 30342.

    

    10.           Any
references to the Board of Directors of BellSouth Corporation shall be deemed to
be a reference to the Board of Directors/Strategic Review Committee of Cingular
Wireless Corporation.

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    CINGULAR
WIRELESS BLS EXECUTIVE TRANSITION SPLIT DOLLAR LIFE INSURANCE PLAN

    

    1.           Section
1. "Purpose" shall be restated as follows: "The purpose of the Cingular Wireless
BLS Executive Transition Split-Dollar Life Insurance Plan is to provide a
split-dollar insurance arrangement under which Cingular Wireless LLC and its
subsidiaries and affiliates can assist key employee in acquiring and financing
life insurance coverage. The Cingular Wireless BLS Executive Transition
Split-Dollar Life Insurance Plan is intended as a follow on and continuation of
the BellSouth Split-Dollar Life Insurance Plan, as such Plan was in effect as of
December 23, 2001. The terms of the BellSouth Split-Dollar Life Insurance Plan
in effect on December 23, 2001, except as herein amended, are incorporated by
reference and made a part of the Plan."

    

    2.           All
references in the Plan to BellSouth Corporation shall be deemed to be a
reference to Cingular Wireless LLC.

    

    3.           Eligibility
and Participation. Participation in the Plans shall be limited to those former
executives who (a) were eligible to participate in the BellSouth Split-Dollar
Life Insurance Plan, (b) were contributed to Cingular Wireless as part of the
formation of Cingular Wireless LLC on or before December 31, 2001, and (c) are
identified by name as eligible to continue participation in this Plan on
Appendix B, hereto. No other Cingular Wireless employees are eligible to
participate in or receive benefits from the plan.

    

    4.           Section
2.07 "Employer" means Cingular Wireless LLC and any subsidiary or affiliate of
Cingular Wireless LLC that is authorized by Cingular Wireless to participate in
the Plan.

    

    5.           Section
2.17 "Plan" means the Cingular Wireless BLS Executive Transition Split-Dollar
Life Insurance Plan. The remaining provisions of Section 2.17 of the BellSouth
Split-Dollar Life Insurance Plan remain in effect.

    

    6.           Section
2.18 "Plan Administrator" means the Senior Vice President - Human Resources of
the Employer and any individual or committee he designates to act on his behalf
with respect to any or all of his responsibilities hereunder. Pursuant to
Section 11, the Senior Vice President - Human Resources shall be authorized to
modify or terminate the plan at any time.

    

    7.           Coverage
levels will be based on existing coverage levels as set forth in the BellSouth
Split Dollar Life Insurance Plan Agreement in effect at the employee's
contribution to Cingular Wireless.

    

    8.           Section
7.02 is amended to insert Cingular's address in the place of BellSouth's:
Glenridge Highlands Two, Suite 760 Executive Director-Executive Benefits, 5565
Glenridge Connector, Atlanta, GA 30342

    

    9.           Any
references to the Board of Directors of BellSouth Corporation shall be deemed to
be a reference to the Board of Directors/Strategic Review Committee of Cingular
Wireless Corporation.

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    

    CINGULAR
WIRELESS BLS EXECUTIVE TRANSITION LONG TERM DISABILITY PLAN

    

    1.           Section
1.1 "Plan" shall be mean the Cingular Wireless BLS Executive Transition Long
Term Disability Plan. The purpose of this plan is to provide supplemental
disability coverage to the group disability plan. The Cingular Wireless BLS
Executive Transition Long Term Disability Plan is intended as a follow on and
continuation of the BellSouth Corporation Executive Long Term Disability and
Survivor Protection Plan, as such Plan was in effect as of December 31, 2001.
The terms of the BellSouth Corporation Executive Long Term Disability and
Survivor Protection Plan in effect on December 31, 2001, except as herein
amended, are incorporated by reference and made a part of the Plan.

    

    2.           Any
reference to BellSouth Corporation shall be deemed to reference Cingular
Wireless LLC. Any reference to BellSouth shall be deemed to reference Cingular
Wireless.

    

    3.           Section
1.2 "Company" shall be amended to insert Cingular Wireless in the place of
BellSouth Corporation.

    

    4.           Section
1.3 "Pension Plan" shall mean the Cingular Wireless Pension Plan.

    

    5.           Section
1.5 "Supplemental Executive Retirement Plan" shall mean the BellSouth
Supplemental Executive Retirement Plan.

    

    6.           Section
1.6 "Short Term Plan" shall mean short term incentive awards granted under the
comparable Cingular Wireless plan, if any.

    

    7.           Section
1.7 "Committee" shall be amended to mean the Cingular Wireless Benefit Committee
appointed by the Senior Vice President – Human Resources.

    

    8.           Eligibility
and Participation. Participation in the plan shall be limited to those former
BLS executives who (a) previously participated in BellSouth Corporation
Executive Long Term Disability and Survivor Protection Plan, (b) were
contributed to Cingular Wireless as part of the formation of Cingular Wireless
on or before December 31, 2001, and (c) are specifically identified on Appendix
B, hereto. No other Cingular Wireless employees are eligible to participate in
or receive benefits from the Cingular Wireless BLS Executive Transition Long
Term Disability Plan.

    

    9.           Section
1.10 "Annual Basic Pay" shall be amended to replace the BellSouth Executive Long
Term Incentive Plan with the comparable Cingular Wireless plan, if any, and to
delete any reference to the Shareholder Return Cash Plan.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    10.           Section
2.5(b) The Board of Directors shall mean the Cingular Wireless Board of
Directors.

    

    11.           The
Plan shall be administered by the Senior Vice President – Human Resources of the
Employer and any individual or committee he designates to act on his behalf with
respect to any or all of his responsibilities hereunder. Pursuant to Section
6.4, the Senior Vice President - Human Resources shall be authorized to modify
or terminate the plan at any time.

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