Document:

<PAGE>
                                                                   EXHIBIT 10(a)

                                 PERRIGO COMPANY
                         MANAGEMENT INCENTIVE BONUS PLAN
                                     FY 2003

OBJECTIVE

The objective of the Perrigo Company Management Incentive Bonus (MIB) plan is
to:

Motivate top management employees to create added value for the company's
shareholders through compensation incentives that are tied to the company's
operating and financial performance.

Reward top management employees for their contribution and the overall
performance of the company.

Help attract and retain top management employees.

Encourage cooperation among and between participants.

PARTICIPANTS

Participants must be employed in positions that are evaluated at grade 16 or
above (excluding Customer Business Managers eligible for Sales Bonus).

TOTAL COMPENSATION OBJECTIVES - TOP MANAGEMENT

The total compensation objectives for top management employees are as follows:

The base pay compensation target is the median base pay rate for like positions
in their competitive markets.

The total cash compensation target is ten percent (10%) above the market median
for total cash compensation for similar positions in the appropriate labor
market. Total cash compensation includes base pay and all short-term cash
incentive opportunities, including MIB. Long-term incentives such as stock
options are not included in the cash compensation objectives.

PLAN DESIGN

The Perrigo Company Management Incentive Bonus is based on Return-on-Assets and
includes the following key features:

-     The focus on optimizing ROA is fundamental to growing and accelerating our
      earnings per share. As a low cost producer, we must maximize our profits
      per asset dollar.

-     At the beginning of each fiscal year, the Compensation Committee of the
      Board of Directors will determine the corporate return on assets goal.
      This goal is based on a comparison with
<PAGE>
      similar companies in comparable industries, in conjunction with
      establishing challenging, but reasonable, expectations for the Perrigo
      business plan.

-     The MIB is a pooled fund concept. At the end of each fiscal year, money
      will have been accrued for disbursement to participants. The amount
      disbursed to each participant will be based on the number of shares
      assigned to the participant and the value of each share for the year
      (dollars in the pool/total number of MIB shares).

-     The number of shares allocated to each position will be made with
      consideration to grade level and the total compensation objectives of the
      Perrigo Company.

OTHER RULES

1.    Partial year participation is permitted. Employees new to an MIB level
      position will join the plan on the first day of the month nearest their
      entry date.

2.    Except as otherwise provided in paragraphs 3 below, no portion of the MIB
      is considered earned, and therefore payable, unless the participant is
      employed by Perrigo, in good standing, on the first day of the following
      fiscal year.

3.    If a participant's employment terminates during the fiscal year for:

      -     retirement at age 65 or older;

      -     retirement at age 60 or older with at least 10 years of service;

      -     retirement pursuant to the participant's acceptance of early
            retirement under an early retirement plan;

      -     permanent disability as determined by the Compensation Committee; or

      -     death.

      The participant, or his or her estate in the case of death, shall be
      entitled to a pro rata portion of any MIB bonus payment for such fiscal
      year, computed to the date of such termination.

      Executive management retains the sole right to make, or not make, any such
      payments at its discretion. Reasons for not making MIB payments to
      retirees include (but are not limited to) poor performance and reason to
      believe that the former employee left Perrigo to accept full-time
      employment elsewhere or to serve in any capacity on behalf of known or
      potential competitors of the business.

4.    Exceptions to paragraphs 2 and 3 above can only be made at the sole
      discretion of the Chief Executive Officer.

5.    Extraordinary items (charges or credits) are generally excluded from the
      calculations of the plan at the discretion of the Board of Directors

6.    One hundred percent (100%) of any earned incentive will be paid within a
      reasonable time after the close of each fiscal year. Senior executives
      retain authority to reduce or withhold payment to any MIB participant
      reporting in their area of influence based on sub-standard
<PAGE>
      performance. The Compensation Committee will be responsible for making
      this determination for any participant in a senior executive management
      position.

OTHER PLAN DESIGN RATIONALE

The components of the plan have been selected with reasons detailed below:

Total depreciated assets less cash, including capitalized leases are used as a
base for measurement for ease of comparison with FORTUNE 500 or other reported
statistics on business performance. Because management should be motivated to
generate as much cash as possible and because the return on cash invested is
less than on assets, cash is excluded from the asset base on a monthly basis.

Operating Income This measure eliminates interest and other income/expenses and
income taxes from the calculation.

      Interest income or expense is excluded because it is often related to
non-operating activities such as stock buyback, option exercises, debt or equity
issues, asset sales, etc. It is also subject to interest rate fluctuations over
which management has little control.

      Income taxes are excluded because they are subject to legislative changes
over which management has little, if any control.

Average depreciated assets less cash on a monthly basis are used to ensure
continued management attention to controlling the use of assets throughout the
year rather than emphasis on year-end figures.

                                                                        07/10/02<PAGE>

                                                                   EXHIBIT 10(b)

                           AMENDMENT NO. 2002-1 TO THE
                               L. PERRIGO COMPANY
                     NONQUALIFIED DEFERRED COMPENSATION PLAN

WHEREAS, L. Perrigo Company (the "Company") established the L. Perrigo Company
Nonqualified Deferred Compensation Plan (the "Plan"), effective July 1, 2001, in
an effort to provide some of its valued employees the ability to defer cash
compensation; and

WHEREAS, all capitalized terms used herein have the meanings set forth in the L.
Perrigo Company Nonqualified Deferred Compensation Plan master plan document
("Plan Document") unless otherwise indicated in this amendment; and

WHEREAS, the Company desires to amend the Plan Document so that Participants who
make a withdrawal election are suspended from participating in the Plan for the
remainder of the Plan Year in which they make the election and for the
subsequent Plan Year; and

WHEREAS, the Company desires to amend the Plan Document in order to allow
Participants to receive a Retirement Benefit in a lump sum or in annual
installments for up to 15 years; and

WHEREAS, the Board of Directors (the "Board") of the Company is empowered to
amend the Plan pursuant to Section 11.2 of the Plan Document;

NOW, THEREFORE, the Company hereby amends the Plan Document as follows:

1.    The language of Section 4.4 of the Plan Document shall be replaced in its
      entirety with the following language:

      "WITHDRAWAL ELECTION. A Participant (or, after a Participant's death, his
      or her Beneficiary) may elect, at any time, to withdraw all of his or her
      vested Account Balance calculated as if there had occurred a Termination
      of Employment as of the day of the election, less a withdrawal penalty
      equal to 10% of such amount (the net amount shall be referred to as the
      "Withdrawal Amount"). This election can be made at any time, before or
      after Retirement, Disability, death or Termination of Employment, and
      whether or not the Participant (or Beneficiary) is in the process of being
      paid pursuant to an installment payment schedule. No partial withdrawals
      of the Account Balance shall be allowed. The Participant (or his or her
      Beneficiary) shall make this election by giving the Committee advance
      written notice of the election in a form determined from time to time by
      the Committee. The Participant (or his or her Beneficiary) shall be paid
      the Withdrawal Amount within sixty (60) days of his or her election. Once
      the Withdrawal Amount is paid, the Participant's participation in the Plan
      shall suspended for the remainder of the Plan Year in which the election
      is made and for the following Plan Year. The payment of this Withdrawal
      Amount shall not be subject to the Deduction Limitation."
<PAGE>
2.    The language of Section 5.2 of the Plan Document shall be replaced in its
      entirety with the following language:

      "PAYMENT OF RETIREMENT BENEFIT. A Participant, in connection with his or
      her commencement of participation in the Plan, shall elect on an Election
      Form to receive the Retirement Benefit in a lump sum, pursuant to an
      Annual Installment Method of up to 15 years or pursuant to any other
      distribution method allowed by the Committee, in its sole discretion. The
      Participant may subsequently change his or her election to an allowable
      alternative payout period by submitting a new Election Form to the
      Committee, provided that any such Election Form is submitted at least
      thirteen (13) months prior to the Participant's Retirement and is accepted
      by the Committee in its sole discretion. The Election Form most recently
      accepted by the Committee shall govern the payout of the Retirement
      Benefit. If a Participant does not make any election with respect to the
      payment of the Retirement Benefit, then such benefit shall be payable in a
      lump sum. Despite the foregoing, if the Participant's vested Account
      Balance at the time of his or her Retirement is less than $50,000, payment
      of the Retirement Benefit will be made in a lump sum. The lump sum payment
      shall be made, or installment payments shall commence, no later than sixty
      (60) days after the date on which the Participant Retires, unless
      otherwise determined by the Committee, in its sole discretion. Any payment
      made shall be subject to the Deduction Limitation."

IN WITNESS WHEREOF, the Board of L. Perrigo Company has executed this Plan
Amendment on this 22nd day of August, 2002.

                               L. PERRIGO COMPANY

                               By: /s/ David T. Gibbons
                                   ---------------------------------------------
                                     David T. Gibbons
<PAGE>
L. PERRIGO COMPANY
Nonqualified Deferred Compensation Plan
MASTER PLAN DOCUMENT

                             EFFECTIVE JULY 1, 2001

                               COPYRIGHT (C) 2001
            BY CLARK/BARDES CONSULTING - COMPENSATION RESOURCE GROUP,
                   A DIVISION OF CLARK/BARDES CONSULTING, INC.
                               ALL RIGHTS RESERVED
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                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                             PAGE
<S>      <C>          <C>                                                                    <C>
PURPOSE               ........................................................................1

ARTICLE 1             DEFINITIONS.............................................................1

ARTICLE 2             SELECTION, ENROLLMENT, ELIGIBILITY......................................6

         2.1          Selection by Committee..................................................6

         2.2          Enrollment Requirements.................................................6

         2.3          Eligibility; Commencement of Participation..............................6

         2.4          Termination of Participation and/or Deferrals...........................6

ARTICLE 3             DEFERRAL COMMITMENTS/ COMPANY
                      CONTRIBUTION/COMPANY
                      MATCHING/VESTING/CREDITING/TAXES........................................7

         3.1          Minimum Deferrals.......................................................7

         3.2          Maximum Deferral........................................................7

         3.3          Election to Defer; Effect of Election Form..............................7

         3.4          Withholding of Annual Deferral Amounts..................................8

         3.5          Annual Company Contribution Amount......................................8

         3.6          Annual Company Matching Amount..........................................8

         3.7          Investment of Trust Assets..............................................8

         3.8          Vesting.................................................................9

         3.9          Crediting/Debiting of Account Balances..................................9

         3.10         FICA and Other Taxes...................................................11

ARTICLE 4             SHORT-TERM PAYOUT; UNFORESEEABLE
                      FINANCIAL EMERGENCIES; WITHDRAWAL ELECTION.............................11

         4.1          Short-Term Payout......................................................11

         4.2          Other Benefits Take Precedence Over Short-Term.........................12

         4.3          Withdrawal Payout/Suspensions for Unforeseeable Financial
                      Emergencies............................................................12

         4.4          Withdrawal Election....................................................12

ARTICLE 5             RETIREMENT BENEFIT.....................................................12

         5.1          Retirement Benefit.....................................................12

         5.2          Payment of Retirement Benefit..........................................12

         5.3          Death Prior to Completion of Retirement Benefit........................13
</TABLE>

                                       i
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<TABLE>
<S>      <C>          <C>                                                                    <C>
ARTICLE 6             PRE-RETIREMENT SURVIVOR BENEFIT........................................13

         6.1          Pre-Retirement Survivor Benefit........................................13

         6.2          Payment of Pre-Retirement Survivor Benefit.............................13

ARTICLE 7             TERMINATION BENEFIT....................................................13

         7.1          Termination Benefit....................................................13

         7.2          Payment of Termination Benefit.........................................13

ARTICLE 8             DISABILITY WAIVER AND BENEFIT..........................................14

         8.1          Disability Waiver......................................................14

         8.2          Continued Eligibility; Disability Benefit..............................14

ARTICLE 9             BENEFICIARY DESIGNATION................................................14

         9.1          Beneficiary............................................................14

         9.2          Beneficiary Designation; Change; Spousal Consent.......................15

         9.3          Acknowledgment.........................................................15

         9.4          No Beneficiary Designation.............................................15

         9.5          Doubt as to Beneficiary................................................15

         9.6          Discharge of Obligations...............................................15

ARTICLE 10            LEAVE OF ABSENCE.......................................................15

         10.1         Paid Leave of Absence..................................................15

         10.2         Unpaid Leave of Absence................................................16

ARTICLE 11            TERMINATION, AMENDMENT OR MODIFICATION.................................16

         11.1         Termination............................................................16

         11.2         Amendment..............................................................17

         11.3         Plan Agreement.........................................................18

         11.4         Effect of Payment......................................................18

ARTICLE 12            ADMINISTRATION.........................................................18

         12.1         Committee Duties.......................................................18

         12.2         Administration Upon Change In Control..................................18

         12.3         Agents.................................................................19

         12.4         Binding Effect of Decisions............................................19

         12.5         Indemnity of Committee.................................................19

         12.6         Employer Information...................................................19

ARTICLE 13            OTHER BENEFITS AND AGREEMENTS..........................................19
</TABLE>

                                       ii
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<TABLE>
<S>      <C>          <C>                                                                    <C>
         13.1         Coordination with Other Benefits.......................................19

ARTICLE 14            CLAIMS PROCEDURES......................................................19

         14.1         Presentation of Claim..................................................19

         14.2         Notification of Decision...............................................20

         14.3         Review of a Denied Claim...............................................20

         14.4         Decision on Review.....................................................20

         14.5         Legal Action...........................................................21

ARTICLE 15            TRUST..................................................................21

         15.1         Establishment of the Trust.............................................21

         15.2         Interrelationship of the Plan and the Trust............................21

         15.3         Distributions From the Trust...........................................21

ARTICLE 16            MISCELLANEOUS..........................................................21

         16.1         Status of Plan.........................................................21

         16.2         Unsecured General Creditor.............................................21

         16.3         Employer's Liability...................................................21

         16.4         Nonassignability.......................................................22

         16.5         Not a Contract of Employment...........................................22

         16.6         Furnishing Information.................................................22

         16.7         Terms..................................................................22

         16.8         Captions...............................................................22

         16.9         Governing Law..........................................................22

         16.10        Notice.................................................................22

         16.11        Successors.............................................................23

         16.12        Spouse's Interest......................................................23

         16.13        Validity...............................................................23

         16.14        Incompetent............................................................23

         16.15        Court Order............................................................23

         16.16        Distribution in the Event of Taxation..................................23

         16.17        Insurance..............................................................24

         16.18        Legal Fees To Enforce Rights After Change in Control...................24
</TABLE>

                                       iii
<PAGE>
                               L. PERRIGO COMPANY
                     NONQUALIFIED DEFERRED COMPENSATION PLAN
                             Effective July 1, 2001

                                     PURPOSE

      The purpose of this Plan is to provide specified benefits to a select
group of management or highly compensated Employees and Directors who contribute
materially to the continued growth, development and future business success of
L. Perrigo Company, a Michigan corporation, and its related entities, if any,
that sponsor this Plan. This Plan shall be unfunded for tax purposes and for
purposes of Title I of ERISA.

                                    ARTICLE 1
                                   DEFINITIONS

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

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

1.2   "Annual Bonus" shall mean any compensation, in addition to Base Annual
      Salary, payable to a Participant as an Employee during any applicable Plan
      Year under any Employer's annual bonus and cash incentive plans, excluding
      stock options and restricted stock.

1.3   "Annual Company Contribution Amount" shall mean, for any one Plan Year,
      the amount determined in accordance with Section 3.5.

1.4   "Annual Company Matching Amount" for any one Plan Year shall be the amount
      determined in accordance with Section 3.6.

1.5   "Annual Deferral Amount" shall mean that portion of a Participant's Base
      Annual Salary, Annual Bonus and Directors Fees that a Participant elects
      to have and is deferred in accordance with Article 3 for any one Plan
      Year. In the event of a Participant's Retirement, Disability (if deferrals
      cease in accordance with Section 8.1), death or a Termination of
      Employment prior to the end of a Plan Year, such year's Annual Deferral
      Amount shall be the actual amount withheld prior to such event.

1.6   "Annual Installment Method" shall be an annual installment payment over
      the number of years selected by the Participant in accordance with this
      Plan, calculated as follows: the vested Account Balance of the Participant
      shall be calculated as of the close of business on the last business day
      of the year. The annual installment shall be calculated by multiplying
      this balance by a fraction, the numerator of which is one and the
      denominator

                                      -1-
<PAGE>
      of which is the remaining number of annual payments due the Participant.
      By way of example, if the Participant elects a ten (10) year Annual
      Installment Method, the first payment shall be 1/10 of the vested Account
      Balance, calculated as described in this definition. The following year,
      the payment shall be 1/9 of the vested Account Balance, calculated as
      described in this definition. Each annual installment shall be paid no
      later than sixty (60) days after the last business day of the applicable
      year.

1.7   "Base Annual Salary" shall mean the annual cash compensation relating to
      services performed during any calendar year, whether or not paid in such
      calendar year or included on the Federal Income Tax Form W-2 for such
      calendar year, excluding bonuses, commissions, overtime, fringe benefits,
      stock options, restricted stock, relocation expenses, incentive payments,
      non-monetary awards, directors fees and other fees, and automobile and
      other allowances paid to a Participant for employment services rendered
      (whether or not such allowances are included in the Employee's gross
      income). Base Annual Salary shall be calculated before reduction for
      compensation voluntarily deferred or contributed by the Participant
      pursuant to all qualified or non-qualified plans of any Employer and shall
      be calculated to include amounts not otherwise included in the
      Participant's gross income under Code Sections 125, 402(e)(3), 402(h), or
      403(b) pursuant to plans established by any Employer; provided, however,
      that all such amounts will be included in compensation only to the extent
      that had there been no such plan, the amount would have been payable in
      cash to the Employee.

1.8   "Beneficiary" shall mean one or more persons, trusts, estates or other
      entities, designated in accordance with Article 9, that are entitled to
      receive benefits under this Plan upon the death of a Participant.

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

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

1.11  "Change in Control" shall mean the date on which (i) any Person (as that
      term is defined in Section 2(2) of the Securities Act of 1933 and Section
      13(d) of the Securities Exchange Act of 1934, as amended from time to
      time) acquires or otherwise becomes the owner of voting stock of the
      Company or Perrigo Company ("Perrigo") which, together with all other
      voting stock of the Company or Perrigo, as applicable, then owned or
      controlled by such Person, represents fifty percent (50%) or more of the
      then issued and outstanding voting stock of the Company or Perrigo, or
      (ii) the composition of the Company or Perrigo's Board of Directors is
      comprised of individuals who are neither incumbent members nor nominated
      or appointed by a majority of such incumbent members or their nominees.

1.12  "Claimant" shall have the meaning set forth in Section 14.1.

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

1.14  "Committee" shall mean the committee described in Article 12.

                                      -2-
<PAGE>
1.15  "Company" shall mean L. Perrigo Company, a Michigan corporation, and any
      successor to all or substantially all of the Company's assets or business.

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

1.17  "Company Matching Account" shall mean (i) the sum of all of a
      Participant's Annual Company Matching Amounts, plus (ii) amounts credited
      in accordance with all the applicable crediting and debiting provisions of
      this Plan that relate to the Participant's Company Matching Account, less
      (iii) all distributions made to the Participant or his or her Beneficiary
      pursuant to this Plan that relate to the Participant's Company Matching
      Account.

1.18  "Deduction Limitation" shall mean the following described limitation on a
      benefit that may otherwise be distributable pursuant to the provisions of
      this Plan. Except as otherwise provided, this limitation shall be applied
      to all distributions that are "subject to the Deduction Limitation" under
      this Plan. If an Employer determines in good faith prior to a Change in
      Control that there is a reasonable likelihood that any compensation paid
      to a Participant for a taxable year of the Employer would not be
      deductible by the Employer solely by reason of the limitation under Code
      Section 162(m), then to the extent deemed necessary by the Employer to
      ensure that the entire amount of any distribution to the Participant
      pursuant to this Plan prior to the Change in Control is deductible, the
      Employer may defer all or any portion of a distribution under this Plan.
      Any amounts deferred pursuant to this limitation shall continue to be
      credited/debited with additional amounts in accordance with Section 3.9
      below, even if such amount is being paid out in installments. The amounts
      so deferred and amounts credited thereon shall be distributed to the
      Participant or his or her Beneficiary (in the event of the Participant's
      death) at the earliest possible date, as determined by the Employer in
      good faith, on which the deductibility of compensation paid or payable to
      the Participant for the taxable year of the Employer during which the
      distribution is made will not be limited by Section 162(m), or if earlier,
      the effective date of a Change in Control. Notwithstanding anything to the
      contrary in this Plan, the Deduction Limitation shall not apply to any
      distributions made after a Change in Control.

1.19  "Deferral Account" shall mean (i) the sum of all of a Participant's Annual
      Deferral Amounts, plus (ii) amounts credited in accordance with all the
      applicable crediting and debiting provisions of this Plan that relate to
      the Participant's Deferral Account, less (iii) all distributions made to
      the Participant or his or her Beneficiary pursuant to this Plan that
      relate to his or her Deferral Account.

1.20  "Director" shall mean any member of the board of directors of any
      Employer.

1.21  "Directors Fees" shall mean the annual fees paid by any Employer,
      including retainer fees and meetings fees, as compensation for serving on
      the board of directors.

                                      -3-
<PAGE>
1.22  "Disability" shall mean a period of disability during which a Participant
      qualifies for permanent disability benefits under the Participant's
      Employer's long-term disability plan, or, if a Participant does not
      participate in such a plan, a period of disability during which the
      Participant would have qualified for permanent disability benefits under
      such a plan had the Participant been a participant in such a plan, as
      determined in the sole discretion of the Committee. If the Participant's
      Employer does not sponsor such a plan, or discontinues to sponsor such a
      plan, Disability shall be determined by the Committee in its sole
      discretion.

1.23  "Disability Benefit" shall mean the benefit set forth in Article 8.

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

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

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

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

1.28  "First Plan Year" shall mean the period beginning July 1, 2001 and ending
      December 31, 2001.

1.29  "401(k) Plan" shall be that certain L. Perrigo Company Profit-Sharing and
      Investment Plan, as amended from time to time.

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

1.31  "Plan" shall mean the Company's Nonqualified Deferred Compensation Plan,
      which shall be evidenced by this instrument and by each Plan Agreement, as
      they may be amended from time to time.

1.32  "Plan Agreement" shall mean a written agreement, as may be amended from
      time to time, which is entered into by and between an Employer and a
      Participant. Each Plan Agreement executed by a Participant and the
      Participant's Employer shall provide for the entire benefit to which such
      Participant is entitled under the Plan; should there be more than one Plan
      Agreement, the Plan Agreement bearing the latest date of acceptance by the
      Employer shall supersede all previous Plan Agreements in their entirety
      and shall govern such entitlement. The terms of any Plan Agreement may be
      different for any Participant,

                                      -4-
<PAGE>
      and any Plan Agreement may provide additional benefits not set forth in
      the Plan or limit the benefits otherwise provided under the Plan;
      provided, however, that any such additional benefits or benefit
      limitations must be agreed to by both the Employer and the Participant.

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

1.34  "Pre-Retirement Survivor Benefit" shall mean the benefit set forth in
      Article 6.

1.35  "Retirement", "Retire(s)" or "Retired" shall mean, with respect to an
      Employee, severance from employment from all Employers for any reason
      other than a leave of absence, death or Disability on or after the earlier
      of the attainment of (a) age sixty-five (65) or (b) five (5) Years of
      Service; and shall mean with respect to a Director who is not an Employee,
      severance of his or her directorships with all Employers on or after the
      later of the attainment of (a) age sixty-five (65) or (b) in the sole
      discretion of the Committee, an age later than age sixty-five (65). If a
      Participant is both an Employee and a Director, Retirement shall not occur
      until he or she Retires as both an Employee and a Director, which
      Retirement shall be deemed to be a Retirement as a Director; provided,
      however, that such a Participant may elect, at least thirteen months prior
      to Retirement and in accordance with the policies and procedures
      established by the Committee, to Retire for purposes of this Plan at the
      time he or she Retires as an Employee, which Retirement shall be deemed to
      be a Retirement as an Employee.

1.36  "Retirement Benefit" shall mean the benefit set forth in Article 5.

1.37  "Short-Term Payout" shall mean the payout set forth in Section 4.1.

1.38  "Termination Benefit" shall mean the benefit set forth in Article 7.

1.39  "Termination of Employment" shall mean the severing of employment with all
      Employers, or service as a Director of all Employers, voluntarily or
      involuntarily, for any reason other than Retirement, Disability, death or
      an authorized leave of absence. If a Participant is both an Employee and a
      Director, a Termination of Employment shall occur only upon the
      termination of the last position held; provided, however, that such a
      Participant may elect, at least three years before Termination of
      Employment and in accordance with the policies and procedures established
      by the Committee, to be treated for purposes of this Plan as having
      experienced a Termination of Employment at the time he or she ceases
      employment with an Employer as an Employee.

1.40  "Trust" shall mean one or more trusts established pursuant to that certain
      Master Trust Agreement, dated as of ________, 200_ between the Company and
      the trustee named therein, as amended from time to time.

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

                                      -5-
<PAGE>
      arising as a result of events beyond the control of the Participant, all
      as determined in the sole discretion of the Committee.

1.42  "Years of Service" shall mean the total number of full years of employment
      in which a Participant has been employed by one or more Employers,
      including authorized paid or unpaid leaves of absences and leave due to
      Disability. For purposes of this definition, a year of employment shall be
      a 365 day period (or 366 day period in the case of a leap year) that, for
      the first year of employment, commences on the Employee's date of hiring
      and that, for any subsequent year, commences on an anniversary of that
      hiring date. Any partial year of employment shall not be counted.

                                    ARTICLE 2
                       SELECTION, ENROLLMENT, ELIGIBILITY

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

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

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

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

                                      -6-
<PAGE>
                                    ARTICLE 3

               DEFERRAL COMMITMENTS/ COMPANY CONTRIBUTION/COMPANY
                        MATCHING/VESTING/CREDITING/TAXES

3.1   MINIMUM DEFERRALS.

      (a)   BASE ANNUAL SALARY, ANNUAL BONUS AND DIRECTORS FEES. For each Plan
            Year, a Participant may elect to defer, as his or her Annual
            Deferral Amount, Base Annual Salary, Annual Bonus and/or Directors
            Fees. Such amounts must total, in the aggregate, at least $5,000. If
            an election is made for less than that amount or if no election is
            made, the amount deferred shall be zero.

      (b)   SHORT PLAN YEAR. Notwithstanding the foregoing, if a Participant
            first becomes a Participant after the first day of a Plan Year, or
            in the case of the first Plan Year of the Plan itself, the minimum
            deferral shall be an amount equal to the minimum set forth above,
            multiplied by a fraction, the numerator of which is the number of
            complete months remaining in the Plan Year and the denominator of
            which is 12.

3.2   MAXIMUM DEFERRAL. For each Plan Year, a Participant may elect to defer, as
      his or her Annual Deferral Amount, Base Annual Salary, Annual Bonus and/or
      Directors Fees up to the following maximum percentages for each deferral
      elected:

<TABLE>
<CAPTION>
                    DEFERRAL                        MAXIMUM AMOUNT
                    --------                        --------------
<S>                                                 <C>
                 Base Annual Salary                       80%
                 Annual Bonus                             100%
                 Directors Fees                           100%
</TABLE>

      Notwithstanding the foregoing, if a Participant first becomes a
      Participant after the first day of a Plan Year, or in the case of the
      first Plan Year of the Plan itself, the maximum Annual Deferral Amount,
      with respect to Base Annual Salary, Annual Bonus and Directors Fees shall
      be limited to the amount of compensation not yet earned by the Participant
      as of the date the Participant submits a Plan Agreement and Election Form
      to the Committee for acceptance.

3.3   ELECTION TO DEFER; EFFECT OF ELECTION FORM.

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

(b)   SUBSEQUENT PLAN YEARS. For each succeeding Plan Year, an irrevocable
      deferral election for that Plan Year, and such other elections as the
      Committee deems necessary or desirable under the Plan, shall be made by
      timely delivering to the

                                      -7-
<PAGE>
      Committee, in accordance with its rules and procedures, before the end of
      the Plan Year preceding the Plan Year for which the election is made, a
      new Election Form. If no such Election Form is timely delivered for a Plan
      Year, the Annual Deferral Amount shall be zero for that Plan Year.

3.4   WITHHOLDING OF ANNUAL DEFERRAL AMOUNTS. For each Plan Year, the Base
      Annual Salary portion of the Annual Deferral Amount shall be withheld from
      each regularly scheduled Base Annual Salary payroll in equal amounts, as
      adjusted from time to time for increases and decreases in Base Annual
      Salary. The Annual Bonus and/or Directors Fees portion of the Annual
      Deferral Amount shall be withheld at the time the Annual Bonus or
      Directors Fees are or otherwise would be paid to the Participant, whether
      or not this occurs during the Plan Year itself.

3.5   ANNUAL COMPANY CONTRIBUTION AMOUNT. For each Plan Year, an Employer, in
      its sole discretion, may, but is not required to, credit any amount it
      desires to any Participant's Company Contribution Account under this Plan,
      which amount shall be for that Participant the Annual Company Contribution
      Amount for that Plan Year. The amount so credited to a Participant may be
      smaller or larger than the amount credited to any other Participant, and
      the amount credited to any Participant for a Plan Year may be zero, even
      though one or more other Participants receive an Annual Company
      Contribution Amount for that Plan Year. The Annual Company Contribution
      Amount, if any, shall be credited as of the last day of the Plan Year. If
      a Participant is not employed by an Employer as of the last day of a Plan
      Year other than by reason of his or her Retirement or death while
      employed, the Annual Company Contribution Amount for that Plan Year shall
      be zero.

3.6   ANNUAL COMPANY MATCHING AMOUNT. For each Plan Year during which the
      Company maintains the 401(k) Plan, an Employer shall credit a
      Participant's Company Matching Account an amount equal to the difference
      between (i) the amount the Employer contributed on behalf of such Employee
      Participant under the 401(k) Plan during such Plan Year and (ii) the
      amount that would have been contributed by the Employer under the 401(k)
      Plan if the Participant had not deferred any amounts under this Plan
      during such Plan Year, but rather had deferred his or her Annual Deferral
      Amount for such Plan Year into the 401(k) Plan, to the extent allowable
      under the limitations applicable to the 401(k) Plan. If a Participant is
      not employed by an Employer as of the last day of a Plan Year other than
      by reason of his or her Retirement or death, the Annual Company Matching
      Amount for such Plan Year shall be zero. In the event of Retirement or
      death, a Participant shall be credited with the Annual Company Matching
      Amount for the Plan Year in which he or she Retires or dies. In no event
      will an Employee receive an Annual Company Matching Amount for a Plan Year
      unless the Employee has made the maximum elective deferrals permitted
      under the 401(k) Plan for the Plan Year pursuant to Code Section 402(g) or
      the terms of the 401(k) Plan.

3.7   INVESTMENT OF TRUST ASSETS. The Trustee of the Trust shall be authorized,
      upon written instructions received from the Committee or investment
      manager appointed by the Committee, to invest and reinvest the assets of
      the Trust in accordance with the applicable Trust Agreement, including the
      disposition of stock and reinvestment of the proceeds in one or more
      investment vehicles designated by the Committee.

                                      -8-
<PAGE>
3.8   VESTING.

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

      (b)   The Committee, in its sole discretion, will determine over what
            period of time and in what percentage increments a Participant shall
            vest in his or her Company Contribution Account. The Committee may
            credit some Participants with larger or smaller vesting percentages
            than other Participants, and the vesting percentage credited to any
            Participant for a Plan Year may be zero, even though one or more
            other Participants have a greater vesting percentage credited to
            them for that Plan Year.

      (c)   A Participant shall be vested in his or her Company Matching Account
            in accordance with the vesting schedule that applies to company
            matching amounts made to the 401(k) Plan, as set forth in the 401(k)
            Plan document.

      (d)   Notwithstanding anything to the contrary contained in this Section
            3.8, in the event of a Change in Control, a Participant's Company
            Contribution Account and Company Matching Account shall immediately
            become 100% vested (if it is not already vested in accordance with
            the above vesting schedules).

      (e)   Notwithstanding subsection (c), the vesting schedule for a
            Participant's Company Contribution Account and Company Matching
            Account shall not be accelerated to the extent that the Committee
            determines that such acceleration would cause the deduction
            limitations of Section 280G of the Code to become effective. In the
            event that all of a Participant's Company Contribution Account
            and/or Company Matching Account is not vested pursuant to such a
            determination, the Participant may request independent verification
            of the Committee's calculations with respect to the application of
            Section 280G. In such case, the Committee must provide to the
            Participant within 15 business days of such a request an opinion
            from a nationally recognized accounting firm selected by the
            Participant (the "Accounting Firm"). The opinion shall state the
            Accounting Firm's opinion that any limitation in the vested
            percentage hereunder is necessary to avoid the limits of Section
            280G and contain supporting calculations. The cost of such opinion
            shall be paid for by the Company.

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

      (a)   ELECTION OF MEASUREMENT FUNDS. A Participant, in connection with his
            or her initial deferral election in accordance with Section 3.3(a)
            above, shall elect, on the Election Form, one or more Measurement
            Fund(s) (as described in Section 3.9(c) below) to be used to
            determine the amounts to be credited or debited to his or her
            Account Balance. The Participant may (but is not required to) elect,
            by submitting an Election Form to the Committee that is accepted by
            the Committee, to add or delete one or more Measurement Fund(s) to
            be used to determine the amounts to be credited or debited to his or
            her Account Balance, or to change the

                                      -9-
<PAGE>
            portion of his or her Account Balance allocated to each previously
            or newly elected Measurement Fund. If an election is made in
            accordance with the previous sentence, it shall apply as of the
            first business day deemed reasonably practicable by the Committee,
            in its sole discretion, and continue thereafter for each subsequent
            day in which the Participant participates in the Plan, unless
            changed in accordance with the previous sentence.

      (b)   PROPORTIONATE ALLOCATION. In making any election described in
            Section 3.9(a) above, the Participant shall specify on the Election
            Form, in increments of five percentage points (5%), the percentage
            of his or her Account Balance to be allocated to a Measurement Fund
            (as if the Participant was making an investment in that Measurement
            Fund with that portion of his or her Account Balance).

      (c)   MEASUREMENT FUNDS. The Participant may elect one or more of the
            Measurement Funds selected by the Committee, in its sole discretion,
            which are based on certain mutual funds or similar investments, for
            the purpose of crediting or debiting amounts to his or her Account
            Balance. As necessary, the Committee may, in its sole discretion,
            discontinue, substitute or add a Measurement Fund. Each such action
            of the Committee will take effect as of the first day of the
            calendar quarter that follows by thirty (30) days the day on which
            the Committee gives Participants advance written notice of such
            change.

      (d)   CREDITING OR DEBITING METHOD. The performance of each elected
            Measurement Fund (either positive or negative) will be determined by
            the Committee, in its reasonable discretion, based on the
            performance of the Measurement Funds themselves. A Participant's
            Account Balance shall be credited or debited on a daily basis to the
            extent values are available, based on the performance of each
            Measurement Fund selected by the Participant, such performance being
            determined by the Committee in its sole discretion.

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

3.10  FICA AND OTHER TAXES.

      (a)   ANNUAL DEFERRAL AMOUNTS. For each Plan Year in which an Annual
            Deferral Amount is being withheld from a Participant, the
            Participant's Employer(s) shall

                                      -10-
<PAGE>
            withhold from that portion of the Participant's Base Annual Salary
            and Bonus that is not being deferred, in a manner determined by the
            Employer(s), the Participant's share of FICA and other employment
            taxes on such Annual Deferral Amount. If necessary, the Committee
            may reduce the Annual Deferral Amount in order to comply with this
            Section 3.10.

      (b)   COMPANY MATCHING AND COMPANY CONTRIBUTIONS. When a participant
            becomes vested in a portion of his or her Company Matching Account
            and/or Company Contribution Account, the Participant's Employer(s)
            shall withhold from the Participant's Base Annual Salary and/or
            Bonus that is not deferred, in a manner determined by the
            Employer(s), the Participant's share of FICA and other employment
            taxes. If necessary, the Committee may reduce the vested portion of
            the Participant's Company Matching Account and/or Company
            Contribution Account in order to comply with this Section 3.10.

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

                                    ARTICLE 4

             SHORT-TERM PAYOUT; UNFORESEEABLE FINANCIAL EMERGENCIES;
                               WITHDRAWAL ELECTION

4.1   SHORT-TERM PAYOUT. In connection with each election to defer an Annual
      Deferral Amount, a Participant may irrevocably elect to receive a future
      "Short-Term Payout" from the Plan with respect to such Annual Deferral
      Amount. Subject to the Deduction Limitation, the Short-Term Payout shall
      be a lump sum payment in an amount that is equal to the Annual Deferral
      Amount plus amounts credited or debited in the manner provided in Section
      3.9 above on that amount, determined at the time that the Short-Term
      Payout becomes payable (rather than the date of a Termination of
      Employment). Subject to the Deduction Limitation and the other terms and
      conditions of this Plan, each Short-Term Payout elected shall be paid out
      during a sixty (60) day period commencing immediately after the last day
      of any Plan Year designated by the Participant that is at least three Plan
      Years after the Plan Year in which the Annual Deferral Amount is actually
      deferred. By way of example, if a three year Short-Term Payout is elected
      for Annual Deferral Amounts that are deferred in the 2002 Plan Year, the
      first time the three year Short-Term Payout could become payable would be
      after the end of the 2005 Plan Year.

4.2   OTHER BENEFITS TAKE PRECEDENCE OVER SHORT-TERM. Should an event occur that
      triggers a benefit under Article 5, 6, 7 or 8, any Annual Deferral Amount,
      plus amounts credited or debited thereon, that is subject to a Short-Term
      Payout election under Section 4.1 shall not be paid in accordance with
      Section 4.1 but shall be paid in accordance with the other applicable
      Article.

                                      -11-
<PAGE>
4.3   WITHDRAWAL PAYOUT/SUSPENSIONS FOR UNFORESEEABLE FINANCIAL EMERGENCIES. If
      the Participant experiences an Unforeseeable Financial Emergency, the
      Participant may petition the Committee to (i) suspend any deferrals
      required to be made by a Participant and/or (ii) receive a partial or full
      payout from the Plan. The payout shall not exceed the lesser of the
      Participant's vested Account Balance, calculated as if such Participant
      were receiving a Termination Benefit, or the amount reasonably needed to
      satisfy the Unforeseeable Financial Emergency. If, subject to the sole
      discretion of the Committee, the petition for a suspension and/or payout
      is approved, suspension shall take effect upon the date of approval and
      any payout shall be made within sixty (60) days of the date of approval.
      The payment of any amount under this Section 4.3 shall not be subject to
      the Deduction Limitation.

4.4   WITHDRAWAL ELECTION. A Participant (or, after a Participant's death, his
      or her Beneficiary) may elect, at any time, to withdraw all of his or her
      vested Account Balance calculated as if there had occurred a Termination
      of Employment as of the day of the election, less a withdrawal penalty
      equal to 10% of such amount (the net amount shall be referred to as the
      "Withdrawal Amount"). This election can be made at any time, before or
      after Retirement, Disability, death or Termination of Employment, and
      whether or not the Participant (or Beneficiary) is in the process of being
      paid pursuant to an installment payment schedule. No partial withdrawals
      of the Account Balance shall be allowed. The Participant (or his or her
      Beneficiary) shall make this election by giving the Committee advance
      written notice of the election in a form determined from time to time by
      the Committee. The Participant (or his or her Beneficiary) shall be paid
      the Withdrawal Amount within sixty (60) days of his or her election. Once
      the Withdrawal Amount is paid, the Participant's participation in the Plan
      shall terminate and the Participant shall not be eligible to participate
      in the Plan in the future. The payment of this Withdrawal Amount shall not
      be subject to the Deduction Limitation.

                                    ARTICLE 5
                               RETIREMENT BENEFIT

5.1   RETIREMENT BENEFIT. Subject to the Deduction Limitation, a Participant who
      Retires shall receive, as a Retirement Benefit, his or her vested Account
      Balance.

5.2   PAYMENT OF RETIREMENT BENEFIT. A Participant, in connection with his or
      her commencement of participation in the Plan, shall elect on an Election
      Form to receive the Retirement Benefit in a lump sum, pursuant to an
      Annual Installment Method of 5, 10 or 15 years or pursuant to any other
      distribution method allowed by the Committee, in its sole discretion. The
      Participant may subsequently change his or her election to an allowable
      alternative payout period by submitting a new Election Form to the
      Committee, provided that any such Election Form is submitted at least
      thirteen (13) months prior to the Participant's Retirement and is accepted
      by the Committee in its sole discretion. The Election Form most recently
      accepted by the Committee shall govern the payout of the Retirement
      Benefit. If a Participant does not make any election with respect to the
      payment of the Retirement Benefit, then such benefit shall be payable in a
      lump sum. Despite the foregoing, if the Participant's vested Account
      Balance at the time of his or her

                                      -12-
<PAGE>
      Retirement is less than $50,000, payment of the Retirement Benefit will be
      made in a lump sum. The lump sum payment shall be made, or installment
      payments shall commence, no later than sixty (60) days after the date on
      which the Participant Retires, unless otherwise determined by the
      Committee, in its sole discretion. Any payment made shall be subject to
      the Deduction Limitation.

5.3   DEATH PRIOR TO COMPLETION OF RETIREMENT BENEFIT. If a Participant dies
      after Retirement but before the Retirement Benefit is paid in full, the
      Participant's unpaid Retirement Benefit payments shall continue and shall
      be paid to the Participant's Beneficiary (a) over the remaining number of
      years and in the same amounts as that benefit would have been paid to the
      Participant had the Participant survived, or (b) in a lump sum, if
      requested by the Beneficiary and allowed in the sole discretion of the
      Committee, that is equal to the Participant's unpaid remaining vested
      Account Balance.

                                    ARTICLE 6
                         PRE-RETIREMENT SURVIVOR BENEFIT

6.1   PRE-RETIREMENT SURVIVOR BENEFIT. Subject to the Deduction Limitation, the
      Participant's Beneficiary shall receive a Pre-Retirement Survivor Benefit
      equal to the Participant's vested Account Balance if the Participant dies
      before he or she Retires, experiences a Termination of Employment or
      suffers a Disability.

6.2   PAYMENT OF PRE-RETIREMENT SURVIVOR BENEFIT. The Pre-Retirement Survivor
      Benefit shall be paid to the Participant's Beneficiary in a lump sum
      payment no later than sixty (60) days after the last day of the Plan Year
      in which the Committee is provided with proof that is satisfactory to the
      Committee of the Participant's death.

                                    ARTICLE 7
                               TERMINATION BENEFIT

7.1   TERMINATION BENEFIT. Subject to the Deduction Limitation, the Participant
      shall receive a Termination Benefit, which shall be equal to the
      Participant's vested Account Balance if a Participant experiences a
      Termination of Employment prior to his or her Retirement, death or
      Disability.

7.2   PAYMENT OF TERMINATION BENEFIT. The Participant shall receive his or her
      Termination Benefit in a lump sum payment no later than sixty (60) days
      after the date on which the Participant experiences the Termination of
      Employment. Any payment made shall be subject to the Deduction Limitation.

                                      -13-
<PAGE>
                                    ARTICLE 8
                          DISABILITY WAIVER AND BENEFIT

8.1   DISABILITY WAIVER.

      (a)   WAIVER OF DEFERRAL. A Participant who is determined by the Committee
            to be suffering from a Disability shall be excused from fulfilling
            that portion of the Annual Deferral Amount commitment that would
            otherwise have been withheld from a Participant's Base Annual
            Salary, Annual Bonus and/or Directors Fees for the Plan Year during
            which the Participant first suffers a Disability. During the period
            of Disability, the Participant shall not be allowed to make any
            additional deferral elections, but will continue to be considered a
            Participant for all other purposes of this Plan.

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

8.2   CONTINUED ELIGIBILITY; DISABILITY BENEFIT. A Participant suffering a
      Disability shall, for benefit purposes under this Plan, continue to be
      considered to be employed, or in the service of an Employer as a Director,
      and shall be eligible for the benefits provided for in Articles 4, 5, 6 or
      7 in accordance with the provisions of those Articles. Notwithstanding the
      above, the Committee shall have the right to, in its sole and absolute
      discretion and for purposes of this Plan only, and must in the case of a
      Participant who is otherwise eligible to Retire, deem the Participant to
      have experienced a Termination of Employment, or in the case of a
      Participant who is eligible to Retire, to have Retired, at any time (or in
      the case of a Participant who is eligible to Retire, as soon as
      practicable) after such Participant is determined to be suffering a
      Disability, in which case the Participant shall receive a Disability
      Benefit equal to his or her vested Account Balance at the time of the
      Committee's determination; provided, however, that should the Participant
      otherwise have been eligible to Retire, he or she shall be paid in
      accordance with Article 5. The Disability Benefit shall be paid in a lump
      sum within sixty (60) days of the Committee's exercise of such right. Any
      payment made shall be subject to the Deduction Limitation.

                                    ARTICLE 9
                             BENEFICIARY DESIGNATION

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

                                      -14-
<PAGE>
9.2   BENEFICIARY DESIGNATION; CHANGE; SPOUSAL CONSENT. A Participant shall
      designate his or her Beneficiary by completing and signing the Beneficiary
      Designation Form, and returning it to the Committee or its designated
      agent. A Participant shall have the right to change a Beneficiary by
      completing, signing and otherwise complying with the terms of the
      Beneficiary Designation Form and the Committee's rules and procedures, as
      in effect from time to time. If the Participant names someone other than
      his or her spouse as a Beneficiary, a spousal consent, in the form
      designated by the Committee, must be signed by that Participant's spouse
      and returned to the Committee. Upon the acceptance by the Committee of a
      new Beneficiary Designation Form, all Beneficiary designations previously
      filed shall be canceled. The Committee shall be entitled to rely on the
      last Beneficiary Designation Form filed by the Participant and accepted by
      the Committee prior to his or her death.

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

9.4   NO BENEFICIARY DESIGNATION. If a Participant fails to designate a
      Beneficiary as provided in Sections 9.1, 9.2 and 9.3 above or, if all
      designated Beneficiaries predecease the Participant or die prior to
      complete distribution of the Participant's benefits, then the
      Participant's designated Beneficiary shall be deemed to be his or her
      surviving spouse. If the Participant has no surviving spouse, the benefits
      remaining under the Plan to be paid to a Beneficiary shall be payable to
      the executor or personal representative of the Participant's estate.

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

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

                                   ARTICLE 10
                                LEAVE OF ABSENCE

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

10.2  UNPAID LEAVE OF ABSENCE. If a Participant is authorized by the
      Participant's Employer for any reason to take an unpaid leave of absence
      from the employment of the Employer, the Participant shall continue to be
      considered employed by the Employer and the Participant shall be excused
      from making deferrals until the earlier of the date the leave of

                                      -15-
<PAGE>
      absence expires or the Participant returns to a paid employment status.
      Upon such expiration or return, deferrals shall resume for the remaining
      portion of the Plan Year in which the expiration or return occurs, based
      on the deferral election, if any, made for that Plan Year. If no election
      was made for that Plan Year, no deferral shall be withheld.
      Notwithstanding the above, the Committee may, in its sole and absolute
      discretion and for purposes of this Plan only, deem the Participant to
      have experienced a Termination of Employment, or in the case of a
      Participant who is eligible to Retire, deem the Participant to have
      Retired, at any time after the unpaid leave of absence begins. If the
      Committee chooses to treat the Participant as having experienced a
      Termination of Employment, the Participant shall receive a Termination
      Benefit paid in accordance with Article 7. If the Committee chooses to
      deem the Participant to have Retired, the Participant shall receive a
      Retirement Benefit paid in accordance with Article 5. The Committee shall,
      in its sole discretion, choose the valuation date appropriate for purposes
      of distributing benefits pursuant to Articles 5 and 7. The lump sum
      payment shall be made, or installments shall commence, no later than sixty
      (60) days after the date on which the Committee exercises such right. Any
      payment made shall be subject to the Deduction Limitation.

                                   ARTICLE 11
                     TERMINATION, AMENDMENT OR MODIFICATION

11.1  TERMINATION. Although each Employer anticipates that it will continue the
      Plan for an indefinite period of time, there is no guarantee that any
      Employer will continue the Plan or will not terminate the Plan at any time
      in the future. Accordingly, each Employer reserves the right to
      discontinue its sponsorship of the Plan and/or to terminate the Plan at
      any time with respect to any or all of its participating Employees and
      Directors, by action of its board of directors. Upon the termination of
      the Plan with respect to any Employer, the Plan Agreements of the affected
      Participants who are employed by that Employer, or in the service of that
      Employer as Directors, shall terminate and their vested Account Balances
      shall be paid as follows:

      (a)   If the Participant is not eligible to Retire as of the effective
            date of the Plan termination, payment shall be made in a lump sum no
            later than 60 days following the effective date of the termination.

      (b)   If the Participant is eligible to Retire as of the effective date of
            the Plan termination, payment shall be made in accordance with the
            Participant's Retirement Benefit election, if any.

      (c)   Notwithstanding the foregoing provisions of this Section 11.1:

            (i)   If the Plan is terminated with respect to all Participants
                  prior to a Change in Control, the Employer, in its sole
                  discretion and notwithstanding any installment payment
                  elections made by Participants eligible to Retire, may
                  designate that benefits shall be paid in a lump sum or annual
                  installments

                                      -16-
<PAGE>
                  of up to 15 years, with amounts debited and credited during
                  the installment period as described in Section 3.9.

            (ii)  If the Plan is terminated with respect to less than all
                  Participants prior to a Change in Control, the Employer shall
                  pay all benefits in a lump sum notwithstanding any installment
                  payment elections made by Participants eligible to Retire.

            (iii) If the Plan is terminated coincident with or following a
                  Change in Control, the Employer shall pay all benefits in a
                  lump sum notwithstanding any installment payment elections
                  made by Participants eligible to Retire.

      The termination of the Plan shall not adversely affect any Participant or
      Beneficiary who has become entitled to the payment of any benefits under
      the Plan as of the date of termination; provided however, that the
      Employer shall have the right to accelerate installment payments without a
      premium or prepayment penalty by paying the vested Account Balance in a
      lump sum or pursuant to an Annual Installment Method using fewer years
      (provided that the present value of all payments that will have been
      received by a Participant at any given point of time under the different
      payment schedule shall equal or exceed the present value of all payments
      that would have been received at that point in time under the original
      payment schedule).

11.2  AMENDMENT. The Company may, at any time, amend or modify the Plan in whole
      or in part by the action of its board of directors; provided, however,
      that: (i) no amendment or modification shall be effective to decrease or
      restrict the value of a Participant's vested Account Balance in existence
      at the time the amendment or modification is made, calculated as if the
      Participant had experienced a Termination of Employment as of the
      effective date of the amendment or modification or, if the amendment or
      modification occurs after the date upon which the Participant was eligible
      to Retire, the Participant had Retired as of the effective date of the
      amendment or modification, and (ii) no amendment or modification of this
      Section 11.2 or Section 12.2 of the Plan shall be effective. The amendment
      or modification of the Plan shall not affect any Participant or
      Beneficiary who has become entitled to the payment of benefits under the
      Plan as of the date of the amendment or modification; provided, however,
      that the Company shall have the right to accelerate installment payments
      by paying the vested Account Balance in a lump sum or pursuant to an
      Annual Installment Method using fewer years (provided that the present
      value of all payments that will have been received by a Participant at any
      given point of time under the different payment schedule shall equal or
      exceed the present value of all payments that would have been received at
      that point in time under the original payment schedule).

11.3  PLAN AGREEMENT. Despite the provisions of Sections 11.1 and 11.2 above, if
      a Participant's Plan Agreement contains benefits or limitations that are
      not in this Plan document, the Employer may only amend or terminate such
      provisions with the consent of the Participant.

                                      -17-
<PAGE>
11.4  EFFECT OF PAYMENT. The full payment of the applicable benefit under
      Articles 4, 5, 6, 7 or 8 of the Plan shall completely discharge all
      obligations to a Participant and his or her designated Beneficiaries under
      this Plan and the Participant's Plan Agreement shall terminate.

                                   ARTICLE 12
                                 ADMINISTRATION

12.1  COMMITTEE DUTIES. Except as otherwise provided in this Article 12, this
      Plan shall be administered by a Committee which shall consist of the
      Board, or such committee as the Board shall appoint. Members of the
      Committee may be Participants under this Plan. The Committee shall also
      have the discretion and authority to (i) make, amend, interpret, and
      enforce all appropriate rules and regulations for the administration of
      this Plan and (ii) decide or resolve any and all questions including
      interpretations of this Plan, as may arise in connection with the Plan.
      Any individual serving on the Committee who is a Participant shall not
      vote or act on any matter relating solely to himself or herself. When
      making a determination or calculation, the Committee shall be entitled to
      rely on information furnished by a Participant or the Company.

12.2  ADMINISTRATION UPON CHANGE IN CONTROL. For purposes of this Plan, the
      Company shall be the "Administrator" at all times prior to the occurrence
      of a Change in Control. Upon and after the occurrence of a Change in
      Control, the "Administrator" shall be an independent third party selected
      by the Trustee and approved by the individual who, immediately prior to
      such event, was the Company's Chief Executive Officer or, if not so
      identified, the Company's highest ranking officer (the "Ex-CEO"). The
      Administrator shall have the discretionary power to determine all
      questions arising in connection with the administration of the Plan and
      the interpretation of the Plan and Trust including, but not limited to
      benefit entitlement determinations; provided, however, upon and after the
      occurrence of a Change in Control, the Administrator shall have no power
      to direct the investment of Plan or Trust assets or select any investment
      manager or custodial firm for the Plan or Trust. Upon and after the
      occurrence of a Change in Control, the Company must: (1) pay all
      reasonable administrative expenses and fees of the Administrator; (2)
      indemnify the Administrator against any costs, expenses and liabilities
      including, without limitation, attorney's fees and expenses arising in
      connection with the performance of the Administrator hereunder, except
      with respect to matters resulting from the gross negligence or willful
      misconduct of the Administrator or its employees or agents; and (3) supply
      full and timely information to the Administrator or all matters relating
      to the Plan, the Trust, the Participants and their Beneficiaries, the
      Account Balances of the Participants, the date of circumstances of the
      Retirement, Disability, death or Termination of Employment of the
      Participants, and such other pertinent information as the Administrator
      may reasonably require. Upon and after a Change in Control, the
      Administrator may be terminated (and a replacement appointed) by the
      Trustee only with the approval of the Ex-CEO. Upon and after a Change in
      Control, the Administrator may not be terminated by the Company.

                                      -18-
<PAGE>
12.3  AGENTS. In the administration of this Plan, the Committee may, from time
      to time, employ agents and delegate to them such administrative duties as
      it sees fit (including acting through a duly appointed representative) and
      may from time to time consult with counsel who may be counsel to any
      Employer.

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

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

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

                                   ARTICLE 13
                          OTHER BENEFITS AND AGREEMENTS

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

                                   ARTICLE 14
                                CLAIMS PROCEDURES

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

                                      -19-
<PAGE>
14.2  NOTIFICATION OF DECISION. The Committee shall consider a Claimant's claim
      within a reasonable time, and shall notify the Claimant in writing:

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

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

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

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

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

            (iv)  an explanation of the claim review procedure set forth in
                  Section 14.3 below.

14.3  REVIEW OF A DENIED CLAIM. Within sixty (60) days after receiving a notice
      from the Committee that a claim has been denied, in whole or in part, a
      Claimant (or the Claimant's duly authorized representative) may file with
      the Committee a written request for a review of the denial of the claim.
      Thereafter, but not later than thirty (30) days after the review procedure
      began, the Claimant (or the Claimant's duly authorized representative):

      (a)   may review pertinent documents;

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

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

14.4  DECISION ON REVIEW. The Committee shall render its decision on review
      promptly, and not later than sixty (60) days after the filing of a written
      request for review of the denial, unless a hearing is held or other
      special circumstances require additional time, in which case the
      Committee's decision must be rendered within 120 days after such date.
      Such decision must be written in a manner calculated to be understood by
      the Claimant, and it must contain:

      (a)   specific reasons for the decision;

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

      (c)   such other matters as the Committee deems relevant.

14.5  LEGAL ACTION. A Claimant's compliance with the foregoing provisions of
      this Article 14 is a mandatory prerequisite to a Claimant's right to
      commence any legal action with respect to any claim for benefits under
      this Plan.

                                      -20-
<PAGE>
                                   ARTICLE 15
                                      TRUST

15.1  ESTABLISHMENT OF THE TRUST. The Company shall establish the Trust, and
      each Employer shall at least annually transfer over to the Trust such
      assets as the Employer determines, in its sole discretion, are necessary
      to provide, on a present value basis, for its respective future
      liabilities created with respect to the Annual Deferral Amounts, Annual
      Company Contribution Amounts, and Company Matching Amounts for such
      Employer's Participants for all periods prior to the transfer, as well as
      any debits and credits to the Participants' Account Balances for all
      periods prior to the transfer, taking into consideration the value of the
      assets in the trust at the time of the transfer.

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

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

                                   ARTICLE 16
                                  MISCELLANEOUS

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

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

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

16.4  NONASSIGNABILITY. Neither a Participant nor any other person shall have
      any right to commute, sell, assign, transfer, pledge, anticipate, mortgage
      or otherwise encumber, transfer, hypothecate, alienate or convey in
      advance of actual receipt, the amounts, if any, payable hereunder, or any
      part thereof, which are, and all rights to which are expressly

                                      -21-
<PAGE>
      declared to be, unassignable and non-transferable. No part of the amounts
      payable shall, prior to actual payment, be subject to seizure, attachment,
      garnishment or sequestration for the payment of any debts, judgments,
      alimony or separate maintenance owed by a Participant or any other person,
      be transferable by operation of law in the event of a Participant's or any
      other person's bankruptcy or insolvency or be transferable to a spouse as
      a result of a property settlement or otherwise.

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

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

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

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

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

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

                              L. Perrigo Company
                              515 Eastern Avenue
                              Allegan, MI  49010
                              Attn:  Treasurer

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

                                      -22-
<PAGE>
      Any notice or filing required or permitted to be given to a Participant
      under this Plan shall be sufficient if in writing and hand-delivered, or
      sent by mail, to the last known address of the Participant.

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

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

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

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

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

16.16 DISTRIBUTION IN THE EVENT OF TAXATION.

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

                                      -23-
<PAGE>
            90 days of the date when the Participant's petition is granted. Such
            a distribution shall affect and reduce the benefits to be paid under
            this Plan.

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

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

16.18 LEGAL FEES TO ENFORCE RIGHTS AFTER CHANGE IN CONTROL. The Company and each
      Employer is aware that upon the occurrence of a Change in Control, the
      Board or the board of directors of a Participant's Employer (which might
      then be composed of new members) or a shareholder of the Company or the
      Participant's Employer, or of any successor corporation might then cause
      or attempt to cause the Company, the Participant's Employer or such
      successor to refuse to comply with its obligations under the Plan and
      might cause or attempt to cause the Company or the Participant's Employer
      to institute, or may institute, litigation seeking to deny Participants
      the benefits intended under the Plan. In these circumstances, the purpose
      of the Plan could be frustrated. Accordingly, if, following a Change in
      Control, it should appear to any Participant that the Company, the
      Participant's Employer or any successor corporation has failed to comply
      with any of its obligations under the Plan or any agreement thereunder or,
      if the Company, such Employer or any other person takes any action to
      declare the Plan void or unenforceable or institutes any litigation or
      other legal action designed to deny, diminish or to recover from any
      Participant the benefits intended to be provided, then the Company and the
      Participant's Employer irrevocably authorize such Participant to retain
      counsel of his or her choice at the expense of the Company and the
      Participant's Employer (who shall be jointly and severally liable) to
      represent such Participant in connection with the initiation or defense of
      any litigation or other legal action, whether by or against the Company,
      the Participant's Employer or any director, officer, shareholder or other
      person affiliated with the Company, the Participant's Employer or any
      successor thereto in any jurisdiction.

IN WITNESS WHEREOF, the Company has signed this Plan document as of __________,
2001.

                                      -24-
<PAGE>
                                     "Company"
                                     L. Perrigo Company, a Michigan corporation

                                     By:
                                        ---------------------------------------
                                     Title:
                                            -----------------------------------

                                      -25-

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