Document:

Exhibit

Exhibit 10.11
AMENDMENT NO. 3 TO  
THE PROFIT SHARING PLAN OF 
QUEST DIAGNOSTICS INCORPORATED
The Profit Sharing Plan of Quest Diagnostics Incorporated, as presently maintained under an amendment and restatement effective as of January 1, 2016 (the “Plan”), is hereby amended in the following respects, effective as of the dates set forth below:
1.    Section 2.1 of the Plan (“Eligibility”) is amended in its entirety to read as follows, effective as of January 1, 2020:  
“2.1    Eligibility
 Effective January 1, 2020, an Eligible Employee may make Employee Pre-Tax Contributions as soon as administratively feasible after he becomes an Eligible Employee.  Such an Eligible Employee shall become eligible to receive Employer Matching Contributions and Employer Discretionary Contributions (if any) as soon as administratively feasible after he completes 12 months of Eligibility Service.”
2.    Section 6.2 of the Plan (“Hardship Withdrawals”) is amended in its entirety to read as follows, effective as of January 1, 2019:
“6.2    Hardship Withdrawals
(a)    Upon making an Appropriate Request, and with the approval of the Plan Administrator, a Participant shall be allowed to withdraw all or part of the value of his Account while still employed by the Employer.  Withdrawn amounts may not be repaid to the Trust Fund.  Withdrawals shall be charged against the available sub-accounts within the Account in such order as the Plan Administrator may determine.  Within each sub-account, withdrawals shall be charged against the separate Investment Options under such procedures as the Plan Administrator may determine.
(b)    A Participant may make a withdrawal under this Section 6.2 only if the withdrawal is made on account of his immediate and heavy financial need, as determined under subsection (c)(1), and is necessary to satisfy such need, as determined under subsection (c)(2).  The determination of the existence of financial hardship and the amount necessary to be withdrawn to satisfy the immediate financial need created by the hardship shall be made by the Plan Administrator in a uniform and nondiscriminatory manner, in accordance with the standards and restrictions set forth in subsection (c).  A Participant requesting a withdrawal hereunder may be required to submit whatever documentation the Plan Administrator, in its sole discretion, deems necessary to establish the existence of a financial hardship and the amount necessary to be withdrawn to satisfy the need created by the hardship.

(c)    (1)    Immediate and heavy financial need.  A withdrawal will be considered to be made on account of an immediate and heavy financial need of the Participant for purposes of subsection (b) only if it is for:
(A)    Expenses of him, his spouse, children or dependents (as defined in Code Section 152 without regard to Code Sections 152(b)(1), (b)(2) and (d)1)(B)) for (or necessary to obtain) medical care that would be deductible under Code Section 213(d) (determined without regard to whether the expenses exceed 7.5% of adjusted gross income);
(B)    Costs directly related to the purchase or construction of his principal residence (excluding mortgage payments);
(C)    Payment of tuition, related educational fees and room and board expenses for up to the next twelve (12) months of post-secondary education for him, his spouse, children, or dependents (as defined in Code Section 152 without regard to Code Sections 152(b)(1), (b)(2) and (d)1)(B));
(D)    Payments necessary to prevent his eviction from his principal residence or foreclosure on the mortgage of his principal residence;
(E)    Payments for burial or funeral expenses for his deceased parent, spouse, children, or dependents (as defined in Code Section 152 without regard to Code Section 152(d)(1)(B));
(F)    Expenses for the repair of damage to his principal residence that would qualify for the casualty deduction under Code Section 165 (determined without regard to Code Section 165(h)(5) and whether the loss exceeds 10% of his adjusted gross income); or
(G)    Expenses and losses (including loss of income) incurred by him on account of a disaster declared by the Federal Emergency Management Agency (FEMA) under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, Pub. L. 100-707, provided that his principal residence or principal place of employment at the time of the disaster was located in an area designated by FEMA for individual assistance with respect to the disaster.
(H)    Expenses under subsections (A), (C) and (E) above as it relates to his “primary Beneficiary” in the same manner as expenses for a spouse or other dependent if such expenses satisfy all the requirements of this Section.  For this purpose, a “primary Beneficiary” is an individual named as a 

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Beneficiary who has an unconditional right to all or a portion of the Participant’s Account upon his death.
(2)    Amount necessary to satisfy the need.  A withdrawal will be considered to be in an amount necessary to satisfy a Participant’s need under paragraph (1) for purposes of subsection (b) only if:
(A)    It does not exceed the amount of the need under paragraph (1);
(B)    He has obtained all non-hardship distributions he is eligible for under any plan the Employer or an Affiliate may sponsor (including this Plan);
(C)    He has provided to the Plan Administrator a representation in writing (including by using an electronic medium as defined in Regulation §1.401(a)-21(e)(3) or in other such form as may be prescribed by the Commissioner of Internal Revenue that he has insufficient cash or other liquid assets reasonably available to satisfy the need and the Plan Administrator does not have actual knowledge to the contrary; and
(D)    Notwithstanding subparagraphs (A) – (C), his withdrawal may be considered to be in an amount necessary to satisfy a need under paragraph (1) if it satisfies a method prescribed under Regulation §1.401(k)-1(d)(3)(iv)(C).  
(d)    In addition to the amount necessary to meet the immediate financial need created by the hardship, the Participant also may withdraw an amount necessary to pay any federal, state or local income taxes or penalties reasonably anticipated to result from the distribution.
(e)    A Participant who has requested a hardship withdrawal and who has any portion of his Account invested in the Quest Diagnostics Incorporated Stock Fund shall be subject to restrictions on his election under Section 6.4 to the extent so provided in Section 6.4(a).
(f)    Notwithstanding the preceding provisions of this Section, a hardship withdrawal may not be made from the QJSA Portion or safe harbor matching contributions, nor to the extent a disbursement restriction is in effect under Section 5.10(b).”

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3.    Section 7.5 of the Plan (“Transactional and other Fees and Expenses of Plan and Trust”) is amended in its entirety to read as follows, effective as of January 1, 2020:
		
	“7.5
	Transactional and other Fees and Expenses of Plan and Trust

(a)    Participant-specific expenses.  The Plan Administrator may provide that any investment-related transactional fees (e.g., charges for the acquisition, sale or exchange of assets, brokerage commissions and service charges) imposed or incurred with respect to an Investment Option as a result of Participant directions shall be charged to the Accounts of the Participants directing such investments.  Fees for transactions directed by Participants including, but not limited to, fees associated with a loan under Section 6.1 and fees associated with a QDRO determination, also may be charged to the directing Participant’s Account.
(b)    General Plan expenses.  All other expenses of administering the Plan and the Trust Fund, including recordkeeping expenses, expenses of the Committee or the Trustee and direct administrative expenses of the Plan Administrator, shall be paid from the Trust Fund, including such charges to some or all Participant Accounts as authorized by the Senior Vice President & Chief Human Resources Officer, provided that such expenses of administration (or a portion thereof) may, in the discretion of Quest Diagnostics, instead be paid by the Employers.”
4.    Appendix A to the Plan (Participating Employers) is amended in its entirety as attached hereto, effective as of January 1, 2020.
5.    Appendix G to the Plan (Post-2015 Merged Plans:  Special Rules and Protected Benefits) is amended in its entirety as attached hereto, effective as of January 1, 2020.
As evidence of its adoption of this Amendment, Quest Diagnostics Incorporated has caused this Amendment to be executed by its Senior Vice President and Chief Human Resources Officer on this December 20, 2019.
QUEST DIAGNOSTICS INCORPORATED
By:   /s/ Cecilia K. McKenney     
Name:    Cecilia K. McKenney    
Title:     SVP and Chief Human Resources Officer       

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APPENDIX A
PARTICIPATING EMPLOYERS

The Plan allows Employers other than Quest Diagnostics to adopt its provisions.  The names (and jurisdictions of organization) of Quest Diagnostics and the other Employers, as of January 1, 2019, in the Plan are:
	
		
	MEMBERS OF THE QUEST CONTROLLED GROUP 
American Medical Laboratories, Incorporated (DE) 
Associated Clinical Laboratories of Pennsylvania, L.L.C. (PA)
Associated Clinical Laboratories, L.P. (PA)
Athena Diagnostics, Inc. (DE) 
DGXWMT JV, LLC (DE)
Diagnostic Laboratory of Oklahoma LLC (OK)
Diagnostic Reference Services, Inc. (MD) 
ExamOne LLC (DE) 
ExamOne World Wide, Inc. (PA)
ExamOne World Wide of NJ, Inc. (NJ) 
Isabella Street Urban Renewal, LLC (NJ)
LabOne, LLC (MO) 
LabOne of Ohio, Inc. (DE) 
Mobile Medical Examination Services, LLC (CA) 
Nomad Massachusetts, Inc. (MA) 
Pathology Building Partnership (MD) 
Pheno Path Laboratories, PLLC (WA) 
Quest Diagnostics Clinical Laboratories, Inc. (DE) 
Quest Diagnostics Domestic Holder LLC (DE) 
Quest Diagnostics Health & Wellness, LLC (DE)
Quest Diagnostics Holdings Incorporated (DE) 
Quest Diagnostics Incorporated (DE) 
Quest Diagnostics Incorporated (MD) 
Quest Diagnostics Incorporated (MI) 
Quest Diagnostics Incorporated (NV) 
Quest Diagnostics Infectious Disease, Inc. (DE)
Quest Diagnostics International LLC (DE) 
Quest Diagnostics Investments LLC (DE) 
Quest Diagnostics LLC (CT) 
Quest Diagnostics LLC (IL) 
Quest Diagnostics LLC (MA) 
Quest Diagnostics Massachusetts LLC (MA) 
Quest Diagnostics Nichols Institute (CA) 
Quest Diagnostics Nichols Institute, Inc. (VA) 
Quest Diagnostics of Pennsylvania Inc. (DE) 
Quest Diagnostics Receivables Inc. (DE) 
Quest Diagnostics TB, LLC (DE) 
Quest Diagnostics Terracotta LLC (DE) 
Quest Diagnostics Venture LLC (PA)
Quest Diagnostics Ventures, LLC (DE)
	Reprosource Fertility Diagnostics, Inc. (MA) 
Specialty Laboratories, Inc. (CA) 
Unilab Corporation (DE)
A. Bernard Ackerman, M.D. Dermatopathology, PC (NY)
AmeriPath Cincinnati, Inc. (OH)
AmeriPath Cleveland, Inc. (OH)
AmeriPath Consolidated Labs, Inc. (FL)
AmeriPath Florida, LLC (DE)
AmeriPath Hospital Services Florida, LLC (DE)
AmeriPath, Inc. (DE)
AmeriPath Indianapolis, P.C. (IN)
AmeriPath Kentucky, Inc. (KY)
AmeriPath Lubbock 5.01(a) Corporation (TX)
AmeriPath Milwaukee, S.C. (WI)
AmeriPath New York, LLC (DE)
AmeriPath Texas Inc. (DE)
AmeriPath Tucson, Inc. (AZ)
Arlington Pathology Association 5.01(a) Corporation (TX)
Clearpoint Diagnostic Laboratories, LLC (TX)
Cleveland Heartlab, Inc. (DE)
Colorado Pathology Consultants, P.C. (CO)
Consolidated DermPath, Inc. (DE)
Dermatopathology of Wisconsin, S.C. (WI)
DFW 5.01(a) Corporation (TX)
Diagnostic Pathology Services, Inc. (OK)
Institute for Dermatopathology, Inc. (PA)
Kailash B. Sharma, M.D., Inc. (GA)
Kilpatrick Pathology, P.A. (NC)
Med Fusion, LLC (TX)
Nuclear Medicine and Pathology Associates (GA)
Ocmulgee Medical Pathology Association, Inc. (GA)
TXAR 5.01(a) Corporation (TX)

	EMPLOYERS THAT ARE NOT MEMBERS OF THE QUEST CONTROLLED GROUP 
Associated Pathologists, Chartered (NV)

	 

    

A-1

G-2

APPENDIX G
POST-2015 MERGED PLANS: 
SPECIAL RULES AND PROTECTED BENEFITS
A.    For purposes of this Appendix G, the following definitions apply:
Merged Plan:  means a plan which has been merged into this Plan on or after January 1, 2016.
Merger Date:  means the date as of which a Merged Plan merged into this Plan.  The Merger Date for each Merged Plan which merged into this Plan on or after January 1, 2016 is set forth in the table below:
	
		
	Name of Merged Plan
	Merger Date

	med fusion 401(k) Plan
	January 18, 2018

	MedXM 401(k) Plan
	March 1, 2019

	Cleveland Heartlab 401(k) Plan
	May 2, 2019

	ReproSource, Inc. 401(k) Retirement Plan
	July 25, 2019

	PhenoPath Laboratories 401(k) Plan
	August 1, 2019

		
	B.
	The subaccounts maintained with respect to Participants who participated in a Merged Plan (unless aggregated with another sub-account having the same characteristics and privileges) include, but are not limited to, the following:

		
	(a)
	Prior Plan Roth Sub-Account consisting of contributions made on behalf of a Participant to a Merged Plan indicated below that the Participant irrevocably designated as Roth contributions subject to Code Section 402A, including any Roth catch-up contributions under Code Section 414(v), and any Roth rollover contributions, to the:

		
	(1)
	med fusion 401(k) Plan.

		
	(2)
	MedXM 401(k) Plan.

		
	(3)
	Cleveland Heartlab 401(k) Plan.

		
	(4)
	ReproSource, Inc. 401(k) Retirement Plan.

		
	(5)
	PhenoPath Laboratories 401(k) Plan.

		
	C.
	Special Provisions and Protected Benefits

(a)    med fusion 401(k) Plan
		
	(1)
	A Participant who was a med fusion 401(k) Plan participant shall be 100% vested in the sub-accounts that were transferred to this Plan upon the merger of the med fusion 401(k) Plan into this Plan.

		
	(2)
	A Participant who was a med fusion 401(k) Plan participant may make an in-service withdrawal from his med fusion 401(k) Plan sub-accounts that 

G-1

were transferred to this Plan upon the merger of the med fusion 401(k) Plan into this Plan if he is determined to be Totally and Permanently Disabled.
(b)    MedXM 401(k) Plan
		
	(1)
	None 

(c)    Cleveland Heartlab 401(k) Plan
		
	(1)
	A Participant who was a Cleveland Heartlab 401(k) Plan participant shall be subject to a 2-year cliff vesting schedule, on an elapsed time basis, with respect to his QACA match sub-account that was transferred to this Plan upon the merger of the Cleveland Heartlab 401(k) Plan into this Plan.

(d)    ReproSource, Inc. 401(k) Retirement Plan
		
	(1)
	A Participant who was a ReproSource, Inc. 401(k) Retirement Plan participant shall be 100% vested in the sub-accounts that were transferred to this Plan upon the merger of the ReproSource, Inc. 401(k) Retirement Plan into this Plan.

(e)    PhenoPath Laboratories 401(k) Plan
		
	(1)
	A Participant who was a PhenoPath Laboratories 401(k) Plan participant, who has attained age 55 and who has completed at least five (5) years of service may make a withdrawal from his employer contribution sub-account that was transferred to this Plan upon the merger of the PhenoPath Laboratories 401(k) Plan into this Plan.  Withdrawn amounts may not be repaid to the Trust Fund.  Within such sub-account, withdrawals shall be charged against the separate Investment Options under such procedures as the Plan Administrator may determine.

		
	(2)
	A Participant who was a PhenoPath Laboratories 401(k) Plan participant and who has retired or otherwise terminated employment may make a partial withdrawal of all or any portion of his PhenoPath Laboratories 401(k) Plan sub-accounts that were transferred to this Plan upon the merger of the PhenoPath Laboratories 401(k) Plan into this Plan.  Withdrawn amounts may not be repaid to the Trust Fund.  Withdrawals shall be charged against the available sub-accounts within the Account in such order as the Plan Administrator may determine.  Within each sub-account, withdrawals shall be charged against the separate Investment Options under such procedures as the Plan Administrator may determine.

G-2Exhibit

Exhibit 10.12
QUEST DIAGNOSTICS INCORPORATED 
AMENDED AND RESTATED DEFERRED COMPENSATION PLAN 
FOR DIRECTORS
(As amended effective February 18, 2020)

		
	Section 1.
	Eligibility

Any Director of Quest Diagnostics Incorporated (the “Corporation”) who is not an officer or employee of the Corporation or a subsidiary thereof is eligible to participate.

		
	Section 2.
	Elections

(a)    Cash Compensation.  A participant may elect to defer receipt, for any calendar year, of all (but not less than all) of the cash compensation payable to the participant for serving as a Director.  Cash compensation deferred by a Director may be allocated to either the cash account (established under Section 3(b)) or the market value account (established under Section 3(c)).

(b)    Stock Awards.  A participant may elect to defer receipt, for any calendar year, of all (but not less than all) of any Stock Awards (as such term is defined in the Corporation’s Long‐Term Incentive Plan for Non‐Employee Directors (the “Incentive Plan”)) granted to the participant under the Incentive Plan.  Stock Awards deferred by a Director shall be allocated to the stock award account (established under Section 3(e)).  No deferral may be made with respect to stock options granted under the Incentive Plan.

(c)    Deferral Period.  A participant may elect to defer receipt of cash compensation and Stock Awards until: (1) a specified date in the future (provided that if the specified date is earlier than the participant’s termination of service as a director, distribution shall be made upon termination of service as a director); or (2) the participant’s termination of service as a Director.  

(d)    Number of Payments.  A participant may elect to receive the cash compensation and Stock Awards deferred under the Plan in either (a) a lump sum or (b) the number of annual installments, not greater than 10, specified by the participant. 

(e)    Deferral Elections.  A director must make an election to defer cash compensation or Stock Awards for any given calendar year no later than December 15th of the preceding year.  An election to defer cash compensation or Stock Awards shall be irrevocable as of December 31 of the year preceding the year to which the election relates, and thereafter may be revoked or modified only upon demonstration of an unforeseeable emergency or a hardship distribution, in either case as determined pursuant to Section 409A (as defined in 

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Section 7).  All elections shall be made by giving written notice to the Secretary of the Corporation on a form satisfactory to the Corporation, which notice shall include the amount to be deferred, the accounts to which such amounts are to be allocated, the period of deferral, and the schedule for payment of deferred amounts.

		
	Section 3.
	Accounts; Notional Investment; Statements

(a)    Deferred Compensation Accounts Generally.  There shall be established for each participant a deferred compensation account or accounts in the participant’s name. Statements regularly will be provided or made available to each participant regarding the value of the participant’s accounts.
(b)    Cash Account.  The amount allocated to the participant’s cash account shall be credited with interest, to be compounded quarterly, calculated for each calendar quarter at a rate equal to 120% of the applicable federal long term rate in effect on the first date of such calendar quarter.

(c)    Market Value Account.  The amount allocated to the participant’s market value account shall be expressed in units, the number of which shall be equal to such amount divided by the Market Value.  For purposes of the Plan, “Market Value” means, as of any date, the closing price of shares of the Corporation’s Common Stock on the New York Stock Exchange Composite list (or such other stock exchange as shall be the principal public trading market for the Common Stock on such date (or on the business day next preceding such date if such date is not a business day)).  On each date that the Corporation pays a regular cash dividend on shares of its Common Stock outstanding, the participant’s market value account shall be credited with a number of units equal to the amount of such dividend per share multiplied by the number of units in the participant’s account on such date divided by the Market Value on such dividend date (or on the business day next preceding such date if the dividend payment date is not a business day).  The value of the units in the participant’s market value account on any given date shall be determined by reference to the Market Value on such date.  All units in the market value account shall be rounded to the nearest 0.01 of a whole share of the Corporation’s Common Stock.

(d)    Re-allocation between Cash Account and Market Value Account.  A participant may reallocate the manner (i.e., between the cash account and market value account) in which future cash compensation is to be deferred by notice given no later than 30 days prior to the date that cash compensation would otherwise have been paid.  In addition, a participant may re-allocate any balances held in the cash account to the market value account (or any balances held in the market value account to the cash account) as of the last day of a calendar quarter by notice given no later than 30 days prior to the last date of such calendar quarter.  In such event, the value of the units in the participant’s market value account shall be determined by reference to the Market Value on the last day of such calendar quarter or on the business day next preceding such date if such date is not a business day.  A participant shall provide 

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notice of any reallocation between the cash account and the market value account in accordance with the requirements of the Corporation’s Securities Transactions Policy.  

(e)    Stock Award Account.  Stock Awards deferred by a participant under Section 3(b) shall be allocated to the participant’s stock award account.  Each share of Common Stock included in a deferred Stock Award shall correspond to one stock unit credited to the participant’s stock award account.  On each date that the Corporation pays a regular cash dividend on shares of its Common Stock outstanding, the participant’s stock award account shall be credited with a number of additional units equal to the amount of such dividend per share multiplied by the number of units in the participant’s account on such date divided by the Market Value on such dividend date (or on the business day next preceding such date if the dividend payment date is not a business day).  The value of the units in the participant’s stock award account on any given date shall be determined by reference to the Market Value on such date.  All units in the stock award account shall be rounded to the nearest 0.01 of a whole share of the Corporation’s Common Stock.
(f)    Conversion of Previously Credited Dividend Equivalents.  As of January 1, 2016 (the “Transition Date”), all amounts previously allocated to a participant’s cash account resulting from dividend equivalents credited with respect to units in such participant’s stock award account shall be converted  to the number of additional units in the participant’s stock award account obtained by dividing (i) the aggregate dollar amount of such dividend equivalents, including any interest credited thereon prior to the Transition Date, by (ii) the Market Value on the business day immediately preceding the Transition Date.  The units in the participant’s stock award account resulting from such conversion shall be subject to the terms and conditions of the Plan applicable to the stock award account, including without limitation Sections 3(e) and 4(b). 
		
	Section 4.
	Payments

(a)    Commencement of Payment.  If a participant elects to defer receipt of compensation until a specified date in the future (and the specified date is not earlier than the participant’s termination of service as a director), actual payment will be made or will commence on the date specified, or as soon as practicable thereafter.  If a participant elects to defer receipt of compensation until the participant’s termination of service as a Director (or if the participant elects to defer compensation until a specified date in the future and the specified date is earlier than the participant’s termination of service as a director), payment will be made or will commence on the first business day of the calendar month after the participant’s termination of service as a Director.    Notwithstanding the foregoing, no Stock Award in a participant’s stock award account shall be distributed before it has vested in accordance with the terms of the Incentive Plan, and if, but for the preceding clause a Stock Award would be distributed prior to vesting, it shall instead be distributed promptly after it has vested.

(b)    Form of Payment.  All amounts credited to the participant’s cash and market value accounts shall be paid in cash.  Cash payments from the participant’s market value account will be determined based on the Market Value on the last business date preceding the date 

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of payment.  All amounts in the stock award account shall be paid in Common Stock of the Corporation.  In the case of any election to receive amounts in the stock award account in installments, the number of shares of Common Stock included in any installment shall equal (i) the number of units credited to the participant’s stock award account immediately prior to payment of the installment, divided by (ii) the number of installments remaining to be made (including the installment in respect of which the calculation is made), rounded down to the nearest whole share.  In connection with the final installment any fractional unit resulting from the foregoing calculation will be paid in cash based on the Market Value of the Common Stock on the last business day preceding the payment date.

(c) Death or Disability.  In the event that a participant dies or becomes totally and permanently disabled within the meaning of Section 409A) prior to receipt of any or all of the amounts payable to the participant pursuant to the Plan, any cash compensation and Stock Awards deferred under this Plan remaining unpaid shall be paid to the participant’s estate or personal representative in a single installment within sixty (60) days following the participant’s death or disability.

		
	Section 5.
	Administration; Amendment

(a)    Administration.  The Plan shall be administered by the Senior Vice President, Chief Human Resources Officer, who shall have the authority to adopt rules and regulations for carrying out the Plan.  The Compensation Committee of the Board of Directors (the “Compensation Committee”) shall have the authority to interpret, construe and implement the provisions of the Plan.
(b)    Amendments and Termination.  The Plan may at any time or from time to time be amended, modified or terminated by the Board of Directors.  No amendment, modification or termination shall, without the consent of the participant, adversely affect accruals in such participant’s deferred compensation account(s).

		
	Section 6.
	Miscellaneous

(a)    Rights of Unsecured Creditor; No Shareholder Rights.  The right of any participant to receive future payments under the provisions of the Plan shall be an unsecured claim against the general assets of the Corporation.  A participant shall not have any rights of a shareholder of the Corporation in connection with any amounts credited to his accounts under the Plan until actual delivery of shares of Common Stock of the Corporation pursuant to the Plan.
(b)    No Transfers.  No right to receive payments hereunder shall be transferable or assignable by a participant, whether voluntarily or involuntarily, except by will or by the laws of descent and distribution; provided, however, that the Compensation Committee may permit transfers of deferred compensation accounts and rights to receive payments hereunder 

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as gifts to family members or to trusts or other entities for the benefit of one or more family members on such terms and conditions as it shall determine.
(c)    Adjustments.  In the event of any stock split, reverse stock split, stock dividend, recapitalization, reorganization, merger, demerger, consolidation, split-up, spin-off, combination or exchange of shares, or any similar change affecting the Common Stock, or in the event the Company pays an extraordinary cash dividend, the number of units in each participant’s market value account and the number of Stock Awards in each participant’s stock award account shall be appropriately adjusted consistent with such change in such manner as the Compensation Committee may deem equitable to prevent substantial dilution or enlargement of the right granted to, or available for, participants in the Plan.

Section 7.    Section 409A 

The Plan is intended and shall be construed to comply with Section 409A of the Internal Revenue Code of 1986, as amended, including any amendments or successor provisions to that Section and any regulations and other administrative guidance thereunder, in each case as they, from time to time, may be amended or interpreted through further administrative guidance (collectively, “Section 409A”).  To the extent a participant would otherwise be entitled to any payment under this Plan and that if paid during the six months beginning on the participant’s termination of service would be subject to the Section 409A additional tax because the participant is a “specified employee” (within the meaning of Section 409A and as determined by the Corporation), the payment will be paid to the participant on the earlier of the six-month anniversary of the participant’s termination of employment or death.   For purposes of the Plan, “termination of service” or “termination of service as a Director” shall mean “separation from service,” within the meaning of Section 409A.

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