Document:

Unassociated Document

    
      

    

    
      Exhibit
10-f

      

      

      EXECUTIVE DEFERRAL
PLAN

      
 

      OF

      

      

      TRUSTMARK NATIONAL BANK,
JACKSON, MISSISSIPPI

      

      

      As
Restated Effective as of December 31, 2007

      (Group
1)

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      EXECUTIVE DEFERRAL
PLAN

      

      OF

      

      TRUSTMARK NATIONAL BANK,
JACKSON, MISSISSIPPI

      

      As
Restated Effective as of December 31, 2007

      (Group
1)

      

      

      PURPOSE
AND EFFECTIVE DATE

      

      The
purpose of the Executive Deferral Plan of Trustmark National Bank, Jackson,
Mississippi is to provide specified benefits to a select group of
management and highly compensated Employees who contribute materially to the
continued growth, development and future business success of Trustmark National Bank, Jackson,
Mississippi.  It is the intention of Trustmark National Bank, Jackson,
Mississippi that this program and the individual plans established
hereunder be administered as unfunded benefit plans established and maintained
for a select group of management or highly compensated Employees.  The
effective date of this Plan is January 1, 1993 and was restated effective
January 1, 1996.  This Plan was last restated effective January 1,
1999.  This Plan is further amended and restated as of December 31,
2007 in order to comply, where applicable, with the requirements of Code Section
409A (as defined below).

      

      ARTICLE
I

      

      DEFINITIONS AND
CONSTRUCTION

      

      
        	
                1.1

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

              

      

      

      
        	
                 
      

              	
                (a)

              	
                "Actuarially
      Reduced" shall mean the present value of Participant's Retirement
      Benefit as set forth in Item 3(a) of his or her Plan Agreement at the time
      of Participant's Early Retirement Date (or other applicable time) using a
      discount rate equal to the Aa Corporate Bond Rate as published by Moody's
      Investors Services, Inc. or its successor as of the date of Early
      Retirement (or other applicable
date).

              

      

      

      
        	
                 
      

              	
                (b)

              	
                "Bank" shall
      mean Trustmark National
      Bank, Jackson, Mississippi and any Subsidiary that duly adopts the
      Plan as provided in Article XIV hereof.  Where the context
      dictates, the term "Bank" as used herein refers to the particular Bank
      that has entered into a Plan Agreement with a particular
      Participant.

              

      

      

      
        	
                 
      

              	
                (c)

              	
                "Beneficiary"
      shall mean the person, persons or estate of a Participant, entitled to
      receive any benefits subsequent to the death of a Participant under a Plan
      Agreement entered into in accordance with the terms of this
      Plan.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (d)

              	
                "Beneficiary
      Designation" shall mean the form of written agreement, attached
      hereto as Annex II, by which the Participant names the Beneficiary(ies) of
      the Plan.

              

      

      

      
        	
                 
      

              	
                (e)

              	
                "Board of
      Directors" shall mean the Board of Directors of Trustmark National Bank,
      Jackson, Mississippi unless otherwise indicated or the context
      otherwise requires.

              

      

      

      
        	
                 
      

              	
                (f)

              	
                "Buyout" shall
      mean a transaction or series of related transactions by which the Bank or
      Holding Company is sold, either through the sale of a Controlling Interest
      in the Bank's or Holding Company’s voting stock or through the sale of
      substantially all of the Bank's or Holding Company’s assets, to a party
      not having a Controlling Interest in the Bank's or Holding Company’s
      voting stock.

              

      

      

      
        	
                 
      

              	
                (g)

              	
                "Change in
      Control" shall mean a Buyout, Merger, or Substantial Change in
      Ownership.

              

      

      

      
        	
                 
      

              	
                (h)

              	
                "Code" shall
      mean the Internal Revenue Code of 1986, as the same may be amended from
      time to time, or the corresponding Section of any subsequent Internal
      Revenue Code, and, to the extent not inconsistent therewith, regulations
      issued thereunder.

              

      

      

      
        	
                 
      

              	
                (i)

              	
                "Committee"
      shall mean the Human Resources Committee of the Board of Directors of the
      Holding Company (or any successor committee thereto) or any other
      committee appointed by the Board of Directors of the Bank in lieu thereof
      to manage and administer the Plan and individual Plan Agreements in
      accordance with the provisions of Article XII
  hereof.

              

      

      

      
        	
                 
      

              	
                (j)

              	
                "Controlling
      Interest" shall mean ownership, either directly or indirectly, of
      more than twenty percent (20%) of the Bank's or Holding Company’s voting
      stock.

              

      

      

      
        	
                 
      

              	
                (k)

              	
                "Covered Salary"
      shall mean the amount specified in Item 1 of the Plan Agreement that is
      used as a basis for computation of Participant's Death and Retirement
      Benefits pursuant to the terms and conditions of the
  Plan.

              

      

      

      
        	
                 
      

              	
                (l)

              	
                "Death Benefit"
      shall mean the benefit provided under Article III of the
    Plan.

              

      

      

      
        	
                 
      

              	
                (m)

              	
                "Disability" or
      "Disabled" shall mean that a Participant is disabled as provided in
      Section 3.2.

              

      

      

      
        	
                 
      

              	
                (n)

              	
                "Early Retirement
      Date" shall be the first day of the month next following the date
      of a Participant's Retirement prior to his or her Normal Retirement Date
      and following the month in which the Participant attains his or her
      fifty-fifth (55th) birthday and has completed five (5) full years of
      continuous employment as an Employee of the Bank commencing on the date of
      his or her commencement of participation in the
  Plan.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (o)

              	
                "Employee" shall
      mean any person who is in the full time employment of the Bank or a
      Subsidiary, as determined by the personnel rules and practices of the Bank
      or the Subsidiary.

              

      

      

      
        	
                 
      

              	
                (p)

              	
                “Employer(s)”
      shall be defined as follows:

              

      

      

      
        	
                 
      

              	
                (1)

              	
                Except
      as otherwise provided in part (2) below, the term “Employer” shall mean
      the Bank and/or any Subsidiary (now in existence or hereafter formed or
      acquired) that duly adopts the Plan as provided in Article XIV
      hereof.

              

      

      

      
        	
                 
      

              	
                (2)

              	
                For
      the purpose of determining whether a Participant has experienced a
      Separation from Service, the term “Employer” shall
  mean:

              

      

      

      
        	
                 
      

              	
                (A)

              	
                The
      entity for which the Participant performs services and with respect to
      which the legally binding right to compensation deferred or contributed
      under this Plan arises; and

              

      

      

      
        	
                 
      

              	
                (B)

              	
                All
      other entities with which the entity described above would be aggregated
      and treated as a single employer under Code Section 414(b) (controlled
      group of corporations) and Code Section 414(c) (a group of trades or
      businesses, whether or not incorporated, under common control), as
      applicable.  In order to identify the group of entities
      described in the preceding sentence, the Committee shall use an ownership
      threshold of at least eighty percent (80%) when applying, the applicable
      provisions of (i) Code Section 1563 for determining a controlled group of
      corporations under Code Section 414(b), and (ii) Treas. Reg. §1.414(c)-2
      for determining the trades or businesses that are under common control
      under Code Section 414(c).

              

      

      

      
        	
                 
      

              	
                (q)

              	
                “ERISA” shall
      mean the Employee Retirement Income Security Act of 1974, as it may be
      amended from time to time, and, to the extent not inconsistent therewith,
      regulations issued thereunder.

              

      

      

      
        	
                 
      

              	
                (r)

              	
                "Good Reason"
      shall mean (1) a demotion in the Employee’s functional position, or the
      assignment to the Employee of duties or responsibilities which are
      materially inconsistent with his or her experience and skills; or (2) a
      material breach of this Plan by the Bank, provided the Bank has not
      remedied such breach within thirty (30) days of receipt of written notice
      of such breach.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (s)

              	
                "Holding
      Company" shall mean Trustmark
  Corporation.

              

      

      

      
        	
                 
      

              	
                (t)

              	
                "Just Cause"
      shall mean theft, fraud, embezzlement or willful misconduct causing
      significant property damage to the Bank, the Holding Company or any
      Subsidiary or personal injury to another
  employee.

              

      

      

      
        	
                 
      

              	
                (u)

              	
                "Merger" shall
      mean a transaction or series of transactions wherein the Bank or Holding
      Company is combined with another business entity, and after which the
      persons or entities who had owned, either directly or indirectly, a
      Controlling Interest in the Bank's or Holding Company’s voting stock own
      less than a Controlling Interest in the voting stock of the combined
      entity.

              

      

      

      
        	
                 
      

              	
                (v)

              	
                "Normal Retirement
      Date" shall be the first day of the month following the month in
      which the Participant attains his or her sixty-fifth (65th)
      birthday.

              

      

      

      
        	
                 
      

              	
                (w)

              	
                "Participant"
      shall mean an Employee who is selected and elects to participate in the
      Plan through the execution of a Plan Agreement in accordance with the
      provisions of Article II.

              

      

      

      
        	
                 
      

              	
                (x)

              	
                "Plan" shall
      mean the Executive Deferral Plan of Trustmark National Bank,
      Jackson, Mississippi as amended from time to
  time.

              

      

      

      
        	
                 
      

              	
                (y)

              	
                "Plan Agreement"
      shall mean the form of written agreement, attached hereto as Annex I,
      which is entered into from time to time by and between the Bank and an
      Employee selected to become a Participant as a condition to participation
      in the Plan.  Each Plan Agreement executed by a Participant
      shall provide for the entire benefit to which such Participant is entitled
      under the Plan, and the Plan Agreement bearing the latest date shall
      govern such entitlement.

              

      

      

      
        	
                 
      

              	
                (z)

              	
                "Retirement" and
      "Retire"
      shall mean severance of employment with the Bank at or after the
      attainment of his or her Normal Retirement Date (sometimes referred to as
      “Normal Retirement”) or, if earlier, at or after attainment of his or her
      Early Retirement Date (sometimes referred to as “Early Retirement”), in
      either case where Just Cause does not
exist.

              

      

      

      
        	
                 
      

              	
                (aa)

              	
                "Retirement
      Benefit" shall mean the benefit provided under Article IV of the
      Plan.

              

      

      

      
        	
                 
      

              	
                (bb)

              	
                “Separation from
      Service” or “Separate from
      Service” shall mean a termination of services provided by a
      Participant to his or her Employer, whether voluntarily or involuntarily,
      other than by reason of death or Disability, as determined by the
      Committee in accordance with Treas. Reg. §1.409A-1(h).  In
      determining whether a Participant has experienced a Separation from
      Service, the following provisions shall
apply:

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
      

      
        	
                 
      

              	
                (1)

              	
                For
      a Participant who provides services to an Employer as an employee, except
      as otherwise provided in part (3) below, a Separation from Service shall
      occur when such Participant has experienced a termination of employment
      with such Employer.  A Participant shall be considered to have
      experienced a termination of employment when the facts and circumstances
      indicate that the Participant and his or her Employer reasonably
      anticipate that either (i) no further services will be performed for the
      Employer after a certain date, or (ii) that the level of bona fide
      services the Participant will perform for the Employer after such date
      (whether as an employee or as an independent contractor) will permanently
      decrease to less than fifty percent (50%) of the average level of bona
      fide services performed by such Participant (whether as an Employee or an
      independent contractor) over the immediately preceding thirty-six (36)
      month period (or the full period of services to the Employer if the
      Participant has been providing services to the Employer less than
      thirty-six (36) months).

              

      

      

      If a
Participant is on military leave, sick leave, or other bona fide leave of
absence, the employment relationship between the Participant and the Employer
shall be treated as continuing intact, provided that the period of such leave
does not exceed 6 months, or if longer, so long as the Participant retains a
right to reemployment with the Employer under an applicable statute or by
contract.  If the period of a military leave, sick leave, or other
bona fide leave of absence exceeds 6 months and the Participant does not retain
a right to reemployment under an applicable statute or by contract, the
employment relationship shall be considered to be terminated for purposes of
this Plan as of the first day immediately following the end of such 6-month
period.  In applying the provisions of this paragraph, a leave of
absence shall be considered a bona fide leave of absence only if there is a
reasonable expectation that the Participant will return to perform services for
the Employer.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (2)

              	
                For
      a Participant who provides services to an Employer as an independent
      contractor, except as otherwise provided in part (3) below, a Separation
      from Service shall occur upon the expiration of the contract (or in the
      case of more than one contract, all contracts) under which services are
      performed for such Employer, provided that the expiration of such
      contract(s) is determined by the Committee to constitute a good-faith and
      complete termination of the contractual relationship between the
      Participant and such Employer.

              

      

      

      
        	
                 
      

              	
                (3)

              	
                For
      a Participant who provides services to an Employer as both an employee and
      an independent contractor, a Separation from
      Service generally shall not occur until the Participant has ceased
      providing services for such Employer as both as an employee and as an
      independent contractor, as determined in accordance with the provisions
      set forth in parts (1) and (2) above, respectively.  Similarly,
      if a Participant either (i) ceases providing services for an Employer as
      an independent contractor and begins providing services for such Employer
      as an employee, or (ii) ceases providing services for an Employer as an
      employee and begins providing services for such Employer as an independent
      contractor, the Participant will not be considered to have experienced a
      Separation from Service until the Participant has ceased providing
      services for such Employer in both capacities, as determined in accordance
      with the applicable provisions set forth in parts (1) and (2) above. 

              

      

      

      Notwithstanding
the foregoing provisions in this part (3), if a Participant provides services
for an Employer as both an employee and as a member of the board of directors (a
“Director”), to the extent permitted by Treas. Reg. §1.409A-1(h)(5) the services
provided by such Participant as a Director shall not be taken into account in
determining whether the Participant has experienced a Separation from Service as
an employee, and the services provided by such Participant as an employee shall
not be taken into account in determining whether the Participant has experienced
a Separation from Service as a Director.

      

      
        	
                 
      

              	
                (cc)

              	
                "Subsidiary"
      shall mean any business organization in which Trustmark National Bank,
      Jackson, Mississippi, directly or indirectly, owns an interest,
      excluding ownership interests Trustmark National Bank,
      Jackson, Mississippi may hold in their fiduciary capacities as
      trustee or otherwise, and any other business organization that the Board
      of Directors designates as a Subsidiary for purposes of this Plan,
      provided in each such case the business organization would be aggregated
      and treated as a single employer with Trustmark National Bank,
      Jackson, Mississippi under Code Section 414(b) (controlled group of
      corporations) and Code Section 414(c) (a group of trades or businesses,
      whether or not incorporated, under common control), as
      applicable.  In order to identify the group of entities
      described in the preceding sentence, the Committee shall use an ownership
      threshold of at least eighty percent (80%) when applying, the applicable
      provisions of (1) Code Section 1563 for determining a controlled group of
      corporations under Code Section 414(b), and (2) Treas. Reg. §1.414(c)-2
      for determining the trades or businesses that are under common control
      under Code Section 414(c).

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (dd)

              	
                "Substantial Change in
      Ownership" shall mean a transaction or series of transactions in
      which a Controlling Interest in the Bank or Holding Company is acquired by
      or for a person or business entity, either of which did not own, either
      directly or indirectly, a Controlling Interest in the Bank or Holding
      Company.  The above shall not apply to stock purchased by any
      tax-qualified employee stock ownership plan or other such type of benefit
      plan sponsored by the Bank or any company affiliated with the Bank or the
      Holding Company.

              

      

      

      
        	
                1.2

              	
                Construction.

              

      

      

      
        	
                 
      

              	
                (a)

              	
                The
      masculine gender when used herein shall be deemed to include the feminine
      gender, and the singular may include the plural unless the context clearly
      indicates to the contrary.  The words "hereof", "herein,"
      "hereunder", and other similar compounds of the word "here" shall mean and
      refer to the entire Plan and not to any particular provision or
      section.  Whenever the words "Article" or "Section" are used in
      this Plan, or a cross-reference to an "Article" or "Section" is made, the
      Article or Section referred to shall be an Article or Section of this Plan
      unless otherwise specified.

              

      

      

      
        	
                 
      

              	
                (b)

              	
                The
      Plan is intended to be a plan that is not qualified within the meaning of
      Code Section 401(a) and that “is unfunded and is maintained by an employer
      primarily for the purpose of providing deferred compensation for a select
      group of management or highly compensated employees within the meaning of
      ERISA Sections 201(2), 301(a)(3) and 401(a)(1).  Except with
      respect to Plan benefits not subject to Code Section 409A, the Plan shall
      be administered and interpreted (i) to the extent possible in a manner
      consistent with the intent described in the preceding sentence, and (ii)
      in accordance with Code Section 409A and related Treasury
      guidance.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      
        	
                1.3

              	
                Applicability of Code
      Section 409A.  It is intended that if no part of a
      Participant’s Retirement Benefit is earned or becomes vested after
      December 31, 2004 and there is no material modification with respect to
      such benefit which would cause it to become subject to Code Section 409A,
      then neither this Plan restatement nor Code Section 409A shall apply to
      such Participant’s Plan benefits, and the payment of such Participant’s
      Plan benefits shall be governed by the terms of the Plan as in effect on
      December 31, 2004.

              

      

      

      ARTICLE
II

      

      ELIGIBILITY AND
PARTICIPATION

      

      
        	
                2.1

              	
                Eligibility.  In
      order to be eligible for participation in the Plan, an Employee must be
      selected by the Committee in the year in which the Employee is eligible to
      participate and in each succeeding year thereafter as hereinafter
      provided.  The Committee, in its sole and absolute discretion,
      shall determine eligibility for participation in accordance with the
      purposes of the Plan.

              

      

      

      
        	
                2.2

              	
                Participation.  After
      being selected by the Committee to participate in this Plan, an Employee
      shall, as a condition precedent to participation herein, complete and
      return to the Committee a duly executed Plan Agreement agreeing to the
      terms and conditions thereof.  Such Plan Agreement shall be
      completed and returned to the Committee at the time specified thereby and
      comply with such further conditions as may be established and are
      determined in the sole discretion of the
  Committee.

              

      

      

      ARTICLE
III

      

      DEATH
BENEFIT

      

      
        	
                3.1

              	
                Amount and Payment of
      Death Benefit.  If a Participant dies before Retirement
      and before his or her Retirement Benefit commences to be paid pursuant to
      Section 4.1(b) and the Plan is in effect at that time, the Bank will pay
      or cause to be paid a Death Benefit to such Participant's
      Beneficiary.  The said Death Benefit shall be (i) one hundred
      percent (100%) of the Participant's Covered Salary as set forth in the
      Plan Agreement paid monthly for the next twelve (12) months after such
      death and (ii) seventy five percent (75%) of said Participant's Covered
      Salary paid monthly for the next one hundred and eight (108) months or
      until the Participant would have been age sixty-five (65), whichever is
      later.  Such payments shall commence effective the first day of
      the month following the date of
death.

              

      

      

      Notwithstanding
the immediately preceding paragraph of this Section 3.1, the Bank will pay or
cause to be paid the Death Benefit specified therein only if:

      

      
        	
                 
      

              	
                (a)

              	
                At
      the time of the Participant's death prior to attaining his or her Normal
      Retirement Date such Participant was an Employee and had not Retired, or
      was Disabled or on authorized leave of absence, and his or her Retirement
      Benefit has not commenced to be paid pursuant to Section
      4.1(b);

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (b)

              	
                The
      Participant's Plan Agreement had been kept in force throughout the period
      commencing on the date of such Plan Agreement and ending on the date of
      his or her death;

              

      

      

      
        	
                 
      

              	
                (c)

              	
                The
      Participant's death was due to causes other than suicide within two (2)
      years of the date of his or her original Plan Agreement or within two (2)
      years of the date of any amendment to his or her Plan Agreement or any
      subsequent Plan Agreement resulting from additional benefits granted
      because of an increase in the Participant's Covered Salary; but the
      Participant's suicide shall relieve the Bank only of its obligation to pay
      that portion of the Death Benefit that was granted within two (2) years
      prior to the date of such suicide;

              

      

      

      
        	
                 
      

              	
                (d)

              	
                The
      Participant's death is determined not to be from a bodily or mental cause
      or causes, information about which was withheld, or knowingly concealed,
      or falsely provided by the Participant when requested by the Bank to
      furnish evidence of good health upon the Participant's enrolling in the
      Plan or upon an application for an increase in benefits because of an
      increase in Participant's Covered Salary;
and

              

      

      

      
        	
                 
      

              	
                (e)

              	
                Proof
      of death in such form as determined acceptable by the Committee is
      furnished.

              

      

      

      
        	
                3.2

              	
                Disability.

              

      

      

      
        	
                 
      

              	
                (a)

              	
                If
      a Participant becomes Disabled before attaining his or her Normal
      Retirement Date and subsequently dies before Retirement and before his or
      her Retirement Benefit commences to be paid pursuant to Section 4.1(b),
      the Death Benefit provided in this Article III shall be
      paid.  If a Participant Retires after becoming Disabled or
      attains his or her Normal Retirement Date, the Retirement Benefit provided
      in Article IV shall be paid.

              

      

      

      
        	
                 
      

              	
                (b)

              	
                For
      purposes hereof, either Disability and Disabled means unable to engage in
      any substantial gainful activity (1) by reason of any medically
      determinable physical or mental impairment that can be expected to result
      in death or can be expected to last for a continuous period of not less
      than twelve (12) months, or (2) by reason of any medically determinable
      physical or mental impairment that can be expected to result in death or
      can be expected to last for a continuous period of not less than twelve
      (12) months, where the Participant is receiving income replacement
      benefits for a period of not less than 3 months under an accident and
      health plan covering employees of the Participant’s
      Employer.  For purposes of this Plan, a Participant shall be
      deemed Disabled if determined to be totally disabled by the Social
      Security Administration.  A Participant shall also be deemed
      Disabled if determined to be disabled in accordance with the applicable
      disability insurance program of such Participant’s Employer, provided that
      the definition of “disability” applied under such disability insurance
      program complies with the requirements
hereof.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      Notwithstanding
the foregoing, a Participant will not be considered Disabled
unless:

      

      
        	
                 
      

              	
                (1)

              	
                such
      Disability was not either intentionally self-inflicted or caused by
      illegal or criminal acts of the
Participant;

              

      

      

      
        	
                 
      

              	
                (2)

              	
                the
      Participant was an Employee at the time he or she became Disabled (or was
      then on an authorized leave of absence);
and

              

      

      

      
        	
                 
      

              	
                (3)

              	
                the
      Participant's Plan Agreement has been kept in force until the time of such
      Disability.

              

      

      

      The
determination of what constitutes a Disability or being Disabled and the
cessation of being Disabled for purposes of this Section 3.2 shall be made by
the Committee, in its sole and absolute discretion, and such determination shall
be conclusive.

      

      ARTICLE
IV

      

      RETIREMENT
BENEFIT

      

      
        	
                4.1

              	
                Payment at Normal
      Retirement Date.

              

      

      

      
        	
                 
      

              	
                (a)

              	
                Subject
      to Section 4.1(b) and Section 4.7, if a Participant has remained an
      Employee until his or her Normal Retirement Date and shall then Retire,
      and if the Plan and his or her Plan Agreement have been kept in force, the
      Bank shall pay or cause to be paid to such Participant, as a Retirement
      Benefit (herein so called), the amount per month specified in his or her
      Plan Agreement as a Retirement Benefit.  Payment of such monthly
      amount shall commence on the Participant's Normal Retirement Date and
      shall continue for the life of the Participant.  If such
      Participant shall die before receiving one hundred and twenty (120)
      monthly payments, the Retirement Benefit will be continued to the
      Participant's Beneficiary as set forth in the Beneficiary Designation
      until an aggregate of one hundred and twenty (120) monthly payments has
      been paid to the Participant and his or her
  Beneficiary.

              

      

      

      
        	
                 
      

              	
                (b)

              	
                This
      Section 4.1(b) shall apply, effective January 1, 2008, notwithstanding any
      other provisions of the Plan other than Section 4.7(b).  In lieu
      of payment pursuant to the other applicable provisions of this Article IV,
      if (1) any portion of a Participant’s Retirement Benefit is earned or
      becomes vested after December 31, 2004 and is thus subject to Code Section
      409A, (2) such a Participant has remained an Employee until his or her
      Normal Retirement Date (or, if later, until December 31, 2007), and (3)
      the Plan and such Participant’s Plan Agreement have been kept in force
      until such time, the Retirement Benefit of such a Participant shall
      commence to be paid on the Participant's Normal Retirement Date (or if
      later, on January 1, 2008) and shall continue for the life of the
      Participant.  The amount of such monthly payment shall be the
      amount per month specified in the Participant's Plan Agreement on the
      Participant's Normal Retirement Date (increased where applicable for
      interest at the rate of four percent (4%), or such other rate as the
      Committee may determine from time to time, per annum, compounded annually,
      to the Participant's Normal Retirement Date (or if later, to January 1,
      2008).  If such Participant shall die before receiving one
      hundred and twenty (120) monthly payments, the Retirement Benefit will be
      continued to the Participant's Beneficiary as set forth in the Beneficiary
      Designation until an aggregate of one hundred and twenty (120) monthly
      payments has been paid to the Participant and his or her
      Beneficiary.  Notwithstanding any other provisions of the Plan,
      in the event a Participant commences to receive his or her Retirement
      Benefit pursuant to this Section 4.1(b), there shall be no further accrual
      of, or any increase to, the Participant’s Retirement Benefit under the
      Plan after the Participant’s Normal Retirement Date (or, if later,
      December 31, 2007) unless the Committee provides for the same in a
      Participant’s Plan Agreement (in which case any additional accrual for a
      year shall commence to be paid on the next anniversary date of the
      Participant’s Normal Retirement Date and shall be payable for the
      Participant’s life, but there shall be no extension of the one hundred and
      twenty (120) monthly payment period for Retirement
    Benefits).

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      
        	
                4.2

              	
                Early
      Retirement.

              

      

      

      
        	
                 
      

              	
                (a)

              	
                Subject
      to Section 4.7, if a Participant has remained an Employee until his or her
      Early Retirement Date and shall then Retire, and if the Plan and his or
      her Plan Agreement have been kept in force, the Bank shall pay or cause to
      be paid to such Participant an Early Retirement Benefit commencing as of
      the Participant's Early Retirement Date.  In such event, the
      Participant's monthly Early Retirement Benefit shall be the Retirement
      Benefit set forth in his or her Plan Agreement Actuarially Reduced to the
      Participant's Early Retirement Date.  The said reduced monthly
      amount, payable for life shall be the only benefit to which such
      Participant is entitled.  If Participant shall die before
      receiving one hundred and twenty (120) installments after commencement of
      the Early Retirement Benefit, said amount will be continued to
      Participant's Beneficiary as set forth in the Beneficiary Designation
      until a total of one hundred and twenty (120) installments have been paid
      to the Participant and his or her
Beneficiary.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (b)

              	
                A
      Participant, in connection with his or her commencement of participation
      in the Plan (or, if later, by December 31, 2008) and consistent with the
      payment election rules of Code Section 409A (including that the election
      does not cause amounts otherwise to be paid in the calendar year of
      election to be deferred to a later calendar year and does not cause
      amounts otherwise to be paid later than the calendar year of election to
      be paid in the calendar year of election), may irrevocably elect in his or
      her Plan Agreement (or in a supplement thereto) to decline to receive his
      or her Retirement Benefit as an Early Retirement Benefit, in which event
      his or her Retirement Benefit shall be paid at his or her Normal
      Retirement Date pursuant to Section 4.1 (subject to acceleration in the
      event of the Participant’s death after Retiring on Early Retirement) and
      shall not commence to the Participant upon or in connection with his or
      her Early Retirement.

              

      

      

      If such a
Participant dies before attainment of his or her Normal Retirement Date, the
monthly amount will be paid to Participant's Beneficiary as set forth in
Participant's Beneficiary Designation for one hundred and twenty (120)
months.  Such payments shall commence effective the first day of the
month following the date of death, provided that the commencement may be delayed
until the date on which the Committee is provided with proof that is
satisfactory to the Committee of the Participant’s death.

      

      
        	
                4.3

              	
                Post Retirement Death
      Benefit.  If a Participant dies after Retirement or
      commencement of his or her Retirement Benefit pursuant to Section 4.1(b),
      but before the applicable Retirement Benefit is paid in full, the unpaid
      Retirement Benefit payments to which such Participant is entitled shall
      continue and be paid to that Participant's Beneficiary.  Such
      payments shall be made in accordance with the payment schedule to that
      Participant pursuant to Section 4.1 or 4.2 of the
  Plan.

              

      

      

      
        	
                4.4

              	
                Exclusivity of Post
      Retirement Death Benefit.  No Death Benefit as defined in
      Article III shall be paid to the Beneficiary of a Participant who dies
      after Retirement or commencement of his or her Retirement Benefit pursuant
      to Section 4.1(b).

              

      

      

      
        	
                4.5

              	
                Accrual of Retirement
      Benefit.  A Participant who ceases to be an Employee
      before completion of one (1) full year of participation in the Plan,
      except as a result of death, Retirement, or Disability, or as a result of
      Just Cause at any time shall not be entitled to any benefits hereunder and
      the Bank shall have no obligation hereunder to such
      Participant.

              

      

      

      
        	
                4.6

              	
                Deferred Termination
      Benefit.  A Participant who ceases to be an Employee
      after the completion of one (1) full year of participation in the Plan and
      for reasons other than Retirement or Just Cause shall receive a portion of
      his or her monthly Retirement Benefit upon the earlier of (i) the
      Participant's death or (ii) attainment of his or her Normal Retirement
      Date.  Said portion shall be the monthly amount of the
      Retirement Benefit set forth in the Participant's Plan Agreement
      multiplied by a fraction, not to exceed one (1), the numerator of which is
      the number of whole years said Employee was a Participant in the Plan and
      the denominator of which is ten (10).  The resulting reduced
      monthly amount shall be the only benefit to which such Participant is
      entitled.  Subject to Section 4.7, the reduced monthly amount
      will be payable for life, if Participant so survives, commencing at the
      Participant's Normal Retirement Date.  If such Participant shall
      die before receiving one hundred and twenty (120) monthly payments, the
      reduced amount will be continued to the Participant's Beneficiary as set
      forth in the Beneficiary Designation until an aggregate of one hundred and
      twenty (120) monthly payments has been paid to the Participant and his or
      her Beneficiary.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      If such a
Participant dies before attainment of his or her Normal Retirement Date, the
reduced monthly amount will be paid to Participant's Beneficiary as set forth in
Participant's Beneficiary Designation for one hundred and twenty (120)
months.  Such payments shall commence effective the first day of the
month following the date of death, provided that the commencement may be delayed
until the date on which the Committee is provided with proof that is
satisfactory to the Committee of the Participant’s death.  No Death
Benefit as defined in Article III shall be paid to the Beneficiary of such a
Participant who dies before attainment of his or her Normal Retirement
Date.

      

      
        	
                4.7

              	
                Deferral of Payment
      Commencement to Comply with Code Section 409A or to Avoid
      Non-Deductibility under Code Section
  162(m).

              

      

      

      
        	
                 
      

              	
                (a)

              	
                Notwithstanding
      any other provisions of the Plan, if a Participant becomes entitled to be
      paid his or her Retirement Benefit which is considered to be nonqualified
      deferred compensation for purposes of, and which is subject to, Code
      Section 409A (taking into account all applicable exclusions and exemptions
      thereunder) by reason of his or her Retirement or other Separation from
      Service (which term does not include separation by reason of death or
      Disability), the following shall apply:  (1) such Participant
      shall not commence to be paid his or her Retirement Benefit until he or
      she is considered to have a Separation from Service; and (2) where payment
      commences on account of the Participant’s Separation from Service,
      commencement of payment of his or her Retirement Benefit shall be delayed
      until six (6) months after such Separation from Service or, if earlier,
      the Participant’s death (the “409A Deferral Period”).  In the
      event payments are delayed by clause (2) of the preceding sentence, the
      payments otherwise due to be made in installments or periodically during
      the 409A Deferral Period shall be accumulated and paid in a lump sum as
      soon as the 409A Deferral Period ends (together with interest thereon
      based on the interest rate used to determine an Actuarially Reduced
      payment as of the date of his or her Separation from Service), and the
      balance of the payments shall thereafter be made as otherwise
      scheduled.

              

      

      

      
        	
                 
      

              	
                (b)

              	
                If
      the Bank’s deduction with respect to any distribution from this Plan to a
      Participant would be limited or eliminated by application of Code Section
      162(m), then to the extent permitted by Treas. Reg. §1.409A-2(b)(7)(i),
      payment shall be delayed as deemed necessary to ensure that the entire
      amount of any distribution from this Plan to the Participant is
      deductible.  Any amounts for which distribution is delayed
      pursuant to this provision shall continue to be credited with interest
      thereon based on the interest rate used to determine an Actuarially
      Reduced payment.  The delayed amounts (and any interest credited
      thereon) shall be distributed to the Participant (or his or her
      Beneficiary in the event of the Participant’s death) at the earliest date
      the Bank reasonably anticipates that the deduction of the payment of the
      amount will not be limited or eliminated by application of Code Section
      162(m).  In the event that such date is determined to be after a
      Participant’s Separation from Service, then the payment to the Participant
      will be considered made on account of a Separation from Service and must
      comply with the six (6) month delay in payment required by Section 4.7(a)
      following such Participant’s Separation from
  Service.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      ARTICLE
V

      

      BENEFICIARY

      

      A
Participant shall designate his or her Beneficiary to receive benefits under the
Plan and his or her Plan Agreement by completing the Beneficiary
Designation.  If more than one Beneficiary is named, the shares and/or
precedence of each Beneficiary shall be indicated.  A Participant
shall have the right to change the Beneficiary by submitting to the Committee a
new Beneficiary Designation.  The Beneficiary Designation must be
approved in writing by the Bank; however, upon the Bank's acknowledgment of
approval, the effective date of the Beneficiary Designation shall be the date it
was executed by the Participant.  If the Bank has any doubt as to the
proper Beneficiary to receive payments hereunder, it shall have the right to
withhold such payments until the matter is finally adjudicated.  Any
payment made by the Bank in good faith and in accordance with the provisions of
this Plan and a Participant's Plan Agreement and Beneficiary Designation shall
fully discharge the Bank from all further obligations with respect to such
payment.

      

      ARTICLE
VI

      

      SOURCE OF
BENEFITS

      

      
        	
                6.1

              	
                Benefits Payable from
      General Assets.  Amounts payable hereunder shall be paid
      exclusively from the general assets of the Bank, and no person entitled to
      payment hereunder shall have any claim, right, security interest, or other
      interest in any fund, trust, account, or other asset of the Bank that may
      be looked to for such payment.  The Bank's liability for the
      payment of benefits hereunder shall be evidenced only by this Plan and
      each Plan Agreement entered into between the Bank and a
      Participant.

              

      

      

      
        	
                6.2

              	
                Investments to
      Facilitate Payment of Benefits.  Although the Bank is not
      obligated to invest in any specific asset or fund in order to provide the
      means for the payment of any liabilities under this Plan, the Bank may
      elect to do so and, in such event, no Participant shall have any interest
      whatever in such asset or fund.  As a condition precedent to the
      Bank's obligation to provide any benefits, including incremental increases
      in benefits, under this Plan, the Participant shall, if so requested by
      the Bank, provide evidence of insurability at standard and other rates, in
      such amounts, and with such insurance carrier or carriers as the Bank may
      require, including the results and reports of previous Bank and other
      insurance carrier physical examinations, taking such additional physical
      examinations as the Bank may request, and taking any other action that the
      Bank may request, and shall consent to the Bank’s acquisition of insurance
      on his or her life.  If a Participant is requested to and does
      not or cannot provide evidence of insurability as specified in the
      immediately preceding sentence, then the Bank shall have no further
      obligation to such Participant under this Plan, and such Participant's
      Plan Agreement shall terminate, except as to benefits previously
      granted.  Notwithstanding the foregoing, if a Participant cannot
      provide evidence of insurability at standard rates or for the amounts
      initially contemplated in connection with his or her participation in the
      Plan, the Bank may, at its discretion, permit the Participant to
      participate herein for such benefits and upon such deferral of his or her
      compensation as the Bank may, in its sole discretion, deem appropriate in
      a manner which is not violative of Code Section 409A and is set out in his
      or her Plan Agreement.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      The
Participant also understands and agrees that his or her participation, in any
way, in the acquisition of any such insurance policy or any other general asset
by the Bank shall not constitute a representation to the Participant, his or her
Beneficiary, or any person claiming through the Participant that any of them has
a special or beneficial interest in such general asset.

      

      
        	
                6.3

              	
                Bank
      Obligation.  The Bank shall have no obligation of any
      nature whatsoever to a Participant under this Plan or a Participant's Plan
      Agreement, except otherwise expressly provided herein and in such Plan
      Agreement.

              

      

      

      
        	
                6.4

              	
                Withholding of
      Information, Etc.  If, in connection with a Participant's
      enrolling in or applying for incremental benefit increases under the Plan,
      the Bank requests the Participant to furnish evidence of insurability, the
      Participant dies, and it is determined that the Participant withheld,
      knowingly concealed, or knowingly provided false information about the
      bodily or mental condition or conditions that caused the Participant's
      death, the Bank shall have no obligation to provide the benefits
      contracted for on the basis of such withholding, concealment, or false
      information.

              

      

      

      ARTICLE
VII

      

      TERMINATION OF
EMPLOYMENT

      

      Neither
this Plan nor a Participant's Plan Agreement, either singly or collectively, in
any way obligate the Bank to continue the employment of a Participant with the
Bank nor does either limit the right of the Bank at any time and for any reason
to terminate the Participant's employment.  Termination of a
Participant's employment with the Bank for any reason, whether by action of the
Bank, shall immediately terminate his or her participation in this Plan and his
or her Plan Agreement, and all further obligations of either party thereunder,
except as may be provided in Section 4.6 and/or Section 9.3.  In no
event shall this Plan or a Plan Agreement, either singly or collectively, by
their terms or implications constitute an employment contract of any nature
whatsoever between the Bank and a Participant.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      ARTICLE
VIII

      

      TERMINATION OF
PARTICIPATION

      

      
        	
                8.1

              	
                Termination of
      Participation - General.  A Participant reserves the
      right to terminate his or her participation in this Plan and his or her
      Plan Agreement at his or her election at any time by giving the Committee
      written notice of such termination not less than thirty (30) days prior to
      an anniversary date of the date of execution of his or her Plan
      Agreement.  A Participant's termination shall be effective as
      soon as administratively convenient after such anniversary
      date.  If a Participant terminates his or her participation in
      the Plan, such participation termination must not be violative of Code
      Section 409A and, in the case of a Participant who has agreed to a
      deferral of compensation pursuant to the Plan, must be effected as of the
      beginning of a calendar year, or as of a specified date is a calendar
      year, following the calendar year in which the Participant delivers
      written notice of his or her participation termination to the
      Committee.

              

      

      

      
        	
                8.2

              	
                Rights After
      Termination of Participation.  Participants who elect to
      terminate participation in the Plan after one (1) full year of
      participation but before eligibility for Retirement will be entitled to
      the same benefits as a Participant who ceases to be an Employee as
      described in Section 4.6.  Such Participants will not be
      entitled to a Death Benefit under Article
III.

              

      

      

      ARTICLE
IX

      

      TERMINATIONS, AMENDMENTS,
MODIFICATION OR

      

      SUPPLEMENT OF
PLAN

      

      
        	
                9.1

              	
                Termination Amendment,
      Etc.  The Bank reserves the right to terminate, amend,
      modify or supplement this Plan, wholly or partially, and from time to
      time, at any time.  The Bank likewise reserves the right to
      terminate, amend, modify, or supplement any Plan Agreement, wholly or
      partially, from time to time.  Such right to terminate, amend,
      modify, or supplement this Plan or any Plan Agreement shall be exercised
      for the Bank by the Committee; provided, however,
  that:

              

      

      

      
        	
                 
      

              	
                (a)

              	
                Except
      as deemed appropriate to comply with Code Section 409A, no action to
      terminate this Plan or a Plan Agreement shall be taken except upon written
      notice to each Participant to be affected thereby, which notice shall be
      given not less than thirty (30) days prior to such action;
    and

              

      

      

      
        	
                 
      

              	
                (b)

              	
                The
      Committee shall take no action to terminate this Plan or a Plan Agreement
      with respect to a Participant or his or her Beneficiary after the payment
      of any benefit has commenced in accordance with Article III or Article IV
      but has not been completed.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      Notwithstanding
the foregoing, the Bank may not provide for acceleration in payment of any Plan
benefit subject to Code Section 409A upon termination of the Plan, or for
termination of any compensation deferral by a Participant pursuant to the Plan
in connection with the termination of the Plan, unless it does so subject to and
in accordance with any rules established by it deemed necessary to comply with
the applicable requirements and limitations of Code Section 409A and Treas. Reg.
§1.409A-3(j)(4)(ix).

      

      
        	
                9.2

              	
                Rights and Obligations
      Upon Termination.  Upon the termination of this Plan or
      any Plan Agreements, by either the Committee or a Participant in
      accordance with the provisions for such termination, neither this Plan nor
      the Plan Agreement shall be of any further force and effect, and no party
      shall have any further obligation under either this Plan or any Plan
      Agreement so terminated except as may be provided for in Section 4.6,
      Section 9.3, or the provisions of this Article
  IX.

              

      

      

      
        	
                9.3

              	
                Rights and Obligations
      Upon Termination as Result of "Change in Control".  In
      the event the Bank or Holding Company should undergo a Change in Control
      to another corporation, firm or person and within three (3) years of such
      Change in Control such corporation, firm or person takes action to
      terminate this Plan or a Participant in the Plan or if the Employee
      resigns for Good Reason, a Participant who is an Employee at such time
      will, nevertheless, be entitled to a portion of his or her monthly
      Retirement Benefit upon the earlier of (i) the Participant's death, (ii)
      Early Retirement Date or (iii) attainment of his or her Normal Retirement
      Date.  Said portion shall be the monthly amount of the
      Retirement Benefit set forth in the Participant's Plan Agreement
      multiplied by a fraction, not to exceed one (1), the numerator of which is
      the number of whole years said Employee was a Participant in the Plan
      plus, in the case of a Participant who has not attained his or her Normal
      Retirement Date (or, if later, December 31, 2007), five (5) additional
      years and the denominator of which is ten (10).  The resulting
      reduced monthly amount shall be the only benefit to which such Participant
      is entitled.  The reduced monthly amount will be payable for
      life, if Participant so survives, at the Participant's Normal Retirement
      Date; provided, however, that if the Participant retires on Early
      Retirement, the Participant's monthly amount shall be the monthly amount
      determined above Actuarially Reduced to the Participant's Early Retirement
      Date and, subject to Section 4.7, shall commence on the Participant’s
      Early Retirement Date.  If such Participant shall die before
      receiving one hundred and twenty (120) monthly payments, the reduced
      amount will be continued to the Participant's Beneficiary as set forth in
      the Beneficiary Designation until an aggregate of one hundred and twenty
      (120) monthly payments has been paid to the Participant and his or her
      Beneficiary.  If Participant dies before his or her Retirement
      on Early Retirement or attainment of his or her Normal Retirement Date,
      the reduced monthly amount will be paid to Participant's Beneficiary as
      set forth in Participant's Beneficiary Designation for one hundred and
      twenty (120) months.  Such payments shall commence effective the
      first day of the month following the date of
  death.

              

      

      

      
        	
                9.4

              	
                Revocation.  In
      the event Participant is discharged for Just Cause at any time, his or her
      Plan Agreement shall be terminated and considered null and void with
      neither the Participant nor Participant's Beneficiary having any claim or
      right against Bank under this Plan or the Participant’s Plan Agreement
      thereafter.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      ARTICLE
X

      

      OTHER BENEFITS AND
AGREEMENTS

      

      The
benefits provided for a Participant and his or her Beneficiary hereunder and
under such Participant's Plan Agreement are in addition to any other benefits
available to such Participant under any other program or plan of the Bank for
its Employees, and, except as may otherwise be expressly provided for, this Plan
and Plan Agreements entered into hereunder shall supplement and shall not
supersede, modify, or amend any other program or plan of the Bank or a
Participant.  Moreover, benefits under this Plan and Plan Agreements
entered into hereunder shall not be considered compensation for the purpose of
computing deferrals or benefits under any plan maintained by the Bank that is
qualified under Code Section 401(a).

      

      ARTICLE
XI

      

      RESTRICTIONS ON ALIENATION
OF BENEFITS

      

      No right
or benefit under this Plan or a Plan Agreement shall be subject to anticipation,
alienation, sale, assignment, pledge, encumbrance, or charge, and any attempt to
anticipate, alienate, sell, assign, pledge, encumber, or charge the same shall
be void.  No right or benefit hereunder or under any Plan Agreement
shall in any manner be liable for or subject to the debts, contracts,
liabilities, or torts of the person entitled to such benefit.  If any
Participant or Beneficiary under this Plan or a Plan Agreement should become
bankrupt or attempt to anticipate, alienate, sell, assign, pledge, encumber, or
charge any right to a benefit hereunder or under any Plan Agreement, then such
right or benefit shall, in the discretion of the Committee, terminate, and, in
such event, the Committee shall hold or apply the same or any part thereof for
the benefit of such Participant or Beneficiary, his or her spouse, children, or
other dependents, or any of them, in such manner and in such portion as the
Committee, in its sole and absolute discretion, may deem proper.

      

      ARTICLE
XII

      

      ADMINISTRATION OF THIS
PLAN

      

      
        	
                12.1

              	
                Appointment of
      Committee.  The general administration of this Plan, and
      any Plan Agreements executed hereunder, as well as construction and
      interpretation thereof, shall be vested in the Committee, the number and
      members of which shall be designated and appointed from time to time by,
      and shall serve at the pleasure of, the Board of Directors.  Any
      such member of the Committee may resign by notice in writing filed with
      the secretary of the Committee.  Vacancies shall be filled
      promptly by the Board of Directors but any vacancies remaining unfilled
      for ninety days may be filled by a majority vote of the remaining members
      of the Committee.  Each person appointed a member of the
      Committee shall signify his or her acceptance by filing a written
      acceptance with the secretary of the
Committee.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        	
                12.2

              	
                Committee
      Officials.  The Board of Directors shall designate one of
      the members of the Committee as chairman and shall appoint a secretary who
      need not be a member of the Committee.  The secretary shall keep
      minutes of the Committee's proceedings and all data, records and documents
      relating to the Committee's administration of this Plan and any Plan
      Agreements executed hereunder.  The Committee may appoint from
      its number such subcommittees with such powers as the Committee shall
      determine and may authorize one or more of its members or any agent to
      execute or deliver any instrument or make any payment on behalf of the
      Committee.

              

      

      

      
        	
                12.3

              	
                Committee
      Action.  All resolutions or other actions taken by the
      Committee shall be by the vote of a majority of those members present at a
      meeting at which a majority of the members are present, or in writing by
      all the members at the time in office if they act without a
      meeting.

              

      

      

      
        	
                12.4

              	
                Committee Rules and
      Powers - General.  Subject to the provisions of this
      Plan, the Committee shall from time to time establish rules, forms, and
      procedures for the administration of this Plan, including Plan
      Agreements.  The Committee shall have the exclusive right to
      determine, among other matters, (i) Disability with respect to a
      Participant and (ii) the degree thereof, either or both determinations to
      be made on the basis of such medical and/or other evidence that the
      Committee, in its sole and absolute discretion, may
      require.  Such decisions, actions, and records of the Committee
      shall be conclusive and binding upon the Bank and all persons having or
      claiming to have any right or interest in or under this
    Plan.

              

      

      

      
        	
                12.5

              	
                Reliance on
      Certificate, Etc.  The members of the Committee and the
      officers and directors of the Bank shall be entitled to rely on all
      certificates and reports made by any duly appointed accountants, and on
      all opinions given by any duly appointed legal counsel.  Such
      legal counsel may be counsel for the
Bank.

              

      

      

      
        	
                12.6

              	
                Liability of
      Committee.  No member of the Committee shall be liable
      for any act or omission of any other member of the Committee, or for any
      act or omission on his or her own part, excepting only his or her own
      willful misconduct.  The Bank shall indemnify and save harmless
      each member of the Committee against any and all expenses and liabilities
      arising out of his or her membership on the Committee, excepting only
      expenses and liabilities arising out of his or her own willful
      misconduct.  Expenses against which a member of the Committee
      shall be indemnified hereunder shall include, without limitation, the
      amount of any settlement or judgment, costs, counsel fees, and related
      charges reasonably incurred in connection with a claim asserted, or a
      proceeding brought, or settlement thereof.  The foregoing right
      of indemnification shall be in addition to any other rights to which any
      such member may be entitled as a matter of
law.

              

      

      

      
        	
                12.7

              	
                Determination of
      Benefits.  In addition to the powers hereinabove
      specified, the Committee shall have the power to compute and certify,
      under this Plan and any Plan Agreement, the amount and kind of benefits
      from time to time payable to Participants and their Beneficiaries, and to
      authorize all disbursements for such
purposes.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	
                12.8

              	
                Information to
      Committee.  To enable the Committee to perform its
      functions, the Bank shall supply full and timely information to the
      Committee on all matters relating to the compensation of all Participants,
      their retirement, death or other cause for termination of employment, and
      such other pertinent facts as the Committee may
  require.

              

      

      

      
        	
                12.9

              	
                Manner and time of
      Payment of Benefits.  The Committee shall have the power,
      in its sole and absolute discretion, to change the manner and time of
      payment of benefits to be made to a Participant or his or her Beneficiary
      from that set forth in the Participant's Plan Agreement if requested to do
      so by such Participant or
Beneficiary.

              

      

      

      ARTICLE
XIII

      

      NAMED FIDUCIARY AND CLAIMS
PROCEDURE

      

      
        	
                13.1

              	
                Named
      Fiduciary.  The Named Fiduciary of the Plan for purposes
      of the claims procedure under this Plan is the Chief Financial Officer;
      provided, however, that if the claim relates to a Plan benefit of the
      Chief Financial Officer, the Named Fiduciary shall be the person or
      committee designated by the Bank.

              

      

      

      
        	
                13.2

              	
                Right to Change Named
      Fiduciary.  The Bank shall have the right to change the
      Named Fiduciary created under this Plan.  The Bank shall also
      have the right to change the address and telephone number of the Named
      Fiduciary.  The Bank shall give the Participant written notice
      of any change of the Named Fiduciary, or any change in the address and
      telephone number of the Named
Fiduciary.

              

      

      

      
        	
                13.3

              	
                Procedure for
      Claims.  Benefits shall be paid in accordance with the
      provisions of this Plan.  Any Participant or Beneficiary of a
      deceased Participant (such Participant or Beneficiary being referred to
      below as a “Claimant”) may deliver to the Named Fiduciary a written claim
      for a determination with respect to the amounts distributable to such
      Claimant from the Plan.  The written claim shall be mailed or
      delivered to the Named Fiduciary.  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 one hundred and
      eighty (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.

              

      

      

      
        	
                13.4

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

              

      

      

      
        	
                 
      

              	
                (1)

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

              

      

      

      
        	
                 
      

              	
                (2)

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

              

      

      

      
        	
                 
      

              	
                (3)

              	
                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;

              

      

      

      
        	
                 
      

              	
                (4)

              	
                an
      explanation of the claim review procedure set forth in Section 13.5 below;
      and

              

      

      

      
        	
                 
      

              	
                (5)

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

              

      

      

      
        	
                13.5

              	
                Review of a Denied
      Claim.  On or before sixty (60) days after receiving a
      notice from the Named Fiduciary that a claim has been denied, in whole or
      in part, a Claimant (or the Claimant's duly authorized representative) may
      file with the Named Fiduciary a written request for a review of the denial
      of the claim.  The Claimant (or the Claimant's duly authorized
      representative):

              

      

      

      
        	
                 
      

              	
                (a)

              	
                may,
      upon request and free of charge, have reasonable access to, and copies of,
      all documents, records and other information relevant (as defined in
      applicable ERISA regulations) to the claim for
  benefits;

              

      

      

      
        	
                 
      

              	
                (b)

              	
                may
      submit written comments or other documents;
  and/or

              

      

      

      
        	
                 
      

              	
                (c)

              	
                may
      request a hearing, which the Named Fiduciary, in its sole discretion, may
      grant.

              

      

      

      
        	
                13.6

              	
                Decision on
      Review.  The Named Fiduciary shall render its decision on
      review promptly, and no later than sixty (60) days after the Named
      Fiduciary receives the Claimant’s written request for a review of the
      denial of the claim.  If the Named Fiduciary determines that
      special circumstances require an extension of time for processing the
      claim, written notice of the extension shall be furnished to the Claimant
      prior to the termination of the initial sixty (60) day
      period.  In no event shall such extension exceed a period of
      sixty (60) days from the end of the initial period.  The
      extension notice shall indicate the special circumstances requiring an
      extension of time and the date by which the Named Fiduciary expects to
      render the benefit determination.  In rendering its decision,
      the Named Fiduciary shall take into account all comments, documents,
      records and other information submitted by the Claimant relating to the
      claim, without regard to whether such information was submitted or
      considered in the initial benefit determination.  The decision
      must be written in a manner calculated to be understood by the Claimant,
      and it must contain:

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      
        	
                 
      

              	
                (a)

              	
                specific
      reasons for the decision;

              

      

      

      
        	
                 
      

              	
                (b)

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

              

      

      

      
        	
                 
      

              	
                (c)

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

              

      

      

      
        	
                 
      

              	
                (d)

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

              

      

      

      
        	
                13.7

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

              

      

      

      ARTICLE
XIV

      

      ADOPTION OF PLAN BY
SUBSIDIARY,

      

      AFFILIATED OR ASSOCIATED
COMPANIES

      

      Any
corporation that is a Subsidiary may, with the approval of the Board of
Directors, adopt this Plan and thereby come within the definition of Bank in
Article I hereof.

      

      ARTICLE
XV

      

      MISCELLANEOUS

      

      
        	
                15.1

              	
                Execution of Receipts
      and Releases.  Any payment to any Participant, a
      Participant's legal representative, or Beneficiary in accordance with the
      provisions of this Plan or Plan Agreement executed hereunder shall, to the
      extent thereof, be in full satisfaction of all claims hereunder against
      the Bank.  The Bank may require such Participant, legal
      representative, or Beneficiary, as a condition precedent to such payment,
      to execute a receipt and release therefore in such form as it may
      determine.

              

      

      

      
        	
                15.2

              	
                No Guarantee of
      Interests.  Neither the Committee nor any of its members
      guarantees the payment of any amounts which may be or become due to any
      person or entity under this Plan or any Plan Agreement executed
      hereunder.  The liability of the Bank to make any payment under
      this Plan or any Plan Agreement executed hereunder is limited to the then
      available assets of the Bank.

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      
        	
                15.3

              	
                Bank
      Records.  Records of the Bank as to a Participant's
      employment, termination of employment and the reason therefor authorized
      leaves of absence, and compensation shall be conclusive on all persons and
      entities, unless determined to be
incorrect.

              

      

      

      
        	
                15.4

              	
                Evidence.  Evidence
      required of anyone under this Plan and any Plan Agreement executed
      hereunder may be by certificate, affidavit, document, or other information
      which the person or entity acting on it considers pertinent and reliable,
      and signed, made, or presented by the proper party or
    parties.

              

      

      

      
        	
                15.5

              	
                Notice.  Any
      notice which shall be or may be given under this Plan or a Plan Agreement
      executed hereunder shall be in writing and shall be mailed by United
      States mail, postage prepaid.  If notice is to be given to the
      Bank, such notice shall be addressed to the Bank
  at:

              

      

      

      Trustmark
National Bank, Jackson, Mississippi

      Box
291

      Jackson,
Mississippi  39205

      

      marked to
the attention of the Secretary, Administrative Committee, Executive Deferral
Plan; or, if notice to a Participant, addressed to the address shown on such
Participant's Plan Agreement.

      

      
        	
                15.6

              	
                Change of
      Address.  Any party may, from time to time, change the
      address to which notices shall be mailed by giving written notice of such
      new address.

              

      

      

      
        	
                15.7

              	
                Effect of
      Provisions.  The provisions of this Plan and of any Plan
      Agreement executed hereunder shall be binding upon the Bank and its
      successors and assigns, and upon a Participant, his or her Beneficiary,
      assigns, heirs, executors, and
administrators.

              

      

      

      
        	
                15.8

              	
                Headings.  The
      titles and headings of Articles and Sections are included for convenience
      of reference only and are not to be considered in the construction of the
      provisions hereof or any Plan Agreement executed
  hereunder.

              

      

      

      
        	
                15.9

              	
                Governing
      Law.  All questions arising with respect to this Plan and
      any Plan Agreement executed hereunder shall be determined by reference to
      the laws of the State of Mississippi, as in effect at the time of their
      adoption and execution,
respectively.

              

      

      

      

      COMPLETE

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      ANNEX
I

      EXECUTIVE
DEFERRAL PLAN

      

      OF

      

      TRUSTMARK
NATIONAL BANK, JACKSON, MISSISSIPPI

      

      PLAN
AGREEMENT

      

      

      I
acknowledge that, as an Employee of Trustmark National Bank, Jackson,
Mississippi, I have been offered an opportunity to participate in the
Executive Deferral Plan ("Plan"), as described in the attached document, in the
forthcoming year and that I have irrevocably elected one of the two alternatives
set forth as indicated by the space which I have checked:

      

      
        	
                 
      

              	
                ___

              	
                To
      participate in the Plan.

              

      

      

      
        	
                 
      

              	
                ___

              	
                Not
      to participate in the Plan.

              

      

      

      Participant's
Covered Salary and benefits under the Plan are agreed to be as
follows:

      

      
        	
                1.

              	
                Participant's Covered
      Salary:  $                            
       per month.

              

      

      

      This
represents  % of the
Covered Salary made available for computation of Retirement and Death
Benefits.

      

      
        	
                2.

              	
                Death Benefit (Article III of
      Plan):

              

      

      

      $                              
per month for first twelve (12) months.

      

      $_____________
per month for next one hundred and eight (108) months or until Participant would
have attained his or her Normal Retirement Date, whichever is
later.

      

      
        	
                3.

              	
                Retirement Benefit (Article IV
      of Plan):

              

      

      

      
        	
                 
      

              	
                (a)

              	
                Retirement
      at Normal Retirement Date: $  per
      month for life.  If Participant shall die prior to receiving one
      hundred and twenty (120)  monthly payments, said amount shall be
      continued to Participant's Beneficiary in accordance with Beneficiary
      Designation until the balance of the one hundred and twenty (120) monthly
      payments has been paid.

              

      

      

      
        	
                 
      

              	
                (b)

              	
                Retirement
      before Normal Retirement Date:  Amounts to be determined and
      paid as specified by Section 4.2(a) of the Plan unless an
      election is made below to be paid at Participant’s Normal Retirement
      Date:

              

      

       

      
        
          	
                   
      

                	
                  ___

                	
                  I
      elect that, if I retire on Early Retirement under the Plan, my Retirement
      Benefit will commence at my Normal Retirement Date (rather than 6 months
      after my Early Retirement Date as provided in Section 4.2(a) of the Plan)
      or, if earlier, after my death as provided in Section 4.2(b) of the
      Plan.

                

        

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      
        	
                 
      

              	
                (c)

              	
                Termination
      Benefit:  Amounts to be determined and paid as specified by
      Section 4.6 and/or Section 9.3 of the
Plan.

              

      

      

      I
understand and further acknowledge that if I terminate the relationship with the
above-named Bank or terminate participation in the Plan by terminating this Plan
Agreement prior to my Retirement (as defined in Section 1.1 of the Plan) or
commencement of my Retirement Benefit payment pursuant to Section 4.1(b) of the
Plan, except as provided in Section 4.6 and Section 9.3 of the Plan, I will
forfeit my right to receive any benefits under the Plan and that all payments,
if any, that I have made under the Plan will be forfeited.

      

      I further
acknowledge that any rights I or any Beneficiary have shall be solely those of
an unsecured-creditor of the Bank.  If the Bank shall purchase an
insurance policy or any other asset in connection with the liabilities assumed
by it hereunder, then, except as otherwise expressly provided, such policy or
other assets shall not be deemed to be held under any trust for my benefit or
the benefit of my Beneficiary or to be collateral security for the performance
of the obligations of the Bank, but shall be, and remain, a general, unpledged,
unrestricted asset of the Bank.

      

      I further
acknowledge that neither the Bank nor any of its subsidiaries, affiliated
companies, officers, employees or agents has any responsibility whatsoever for
any changes which I may make in other personal plans or programs as a result of
my decision regarding the Plan and they are fully released to such extent, and I
understand that the Plan and this Plan Agreement may be terminated at any time,
in the sole discretion of the Bank, without any obligation of any nature
whatsoever to the Bank, except a Participant shall have those rights provided
for in Articles III, IV, VIII and IX of said Plan, to the extent such may be
applicable to him or her at the time of such termination.

      

      IN
WITNESS WHEREOF, TRUSTMARK NATIONAL BANK, JACKSON, MISSISSIPPI has executed this
Plan Agreement as of                               ,
20             .

      

      

      
        	 
      	
                TRUSTMARK
      NATIONAL BANK, JACKSON, MISSISSIPPI

              
	 
      	 
      
	 
      	
                By

              	 
      
	 
      	 
      
	 
      	
                Title

              	 
      
	 
      	 
      
	 
      	 
      
	 
      	
                PARTICIPANT

              
	 
      	 
      
	 
      	 
	 
      	
                (Signature)

              
	 
      	 
      
	 
      	 
      
	 
      	
                (Type
      or print name)

              
	 
      	 
      
	 	 
	 	 
	 
      	 
      
	 
      	
                (Address
      of Participant)

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      ANNEX
II

      EXECUTIVE
DEFERRAL PLAN

      

      OF

      

      TRUSTMARK
NATIONAL BANK, JACKSON, MISSISSIPPI

      

      BENEFICIARY
DESIGNATION

      

      

      
        	
                1.

              	
                Participant:

              	
                .

              

      

      

      
      

      
        
          	
                  2.

                	
                  Scope:  This
      Beneficiary Designation applies to all benefits of the Plan to which the
      above-named Participant has the right to name the
    Beneficiary.

                

        

        

        
          	
                  3.

                	
                  COUNSEL:  THE
      DESIGNATION OF A BENEFICIARY OR BENEFICIARIES IN ITEMS 4, 5, AND 6 BELOW
      MAY HAVE SIGNIFICANT ESTATE AND GIFT TAX CONSEQUENCES TO THE
      PARTICIPANT.  ACCORDINGLY, THE PARTICIPANT SHOULD SEEK THE
      ADVICE OF PROFESSIONAL COUNSEL WHO IS FAMILIAR WITH THE ESTATE AND GIFT
      TAX ASPECTS OF NONQUALIFIED RETIREMENT AND SALARY CONTINUATION PLANS
      BEFORE COMPLETING THIS FORM.

                

        

        

        
          	
                  4.

                	
                  Identification
      of Beneficiaries:

                

        

         

        
        

        
          
          

          
            
              
                
                

                
                

              

            

          

          
            
              	
                      A.

                    	 	
                      Primary
      Beneficiary:

                    	
                       

                    
	 	 	 	 
	 
      	 	 
      	 
      
	
                      B.

                    	 	
                      Secondary
      Beneficiary:

                    	
                       

                    
	 	 	 	 

            

          

          
            
              
                
                

                

                
                

              

              
              

            

          

          
            	
                    5.

                  	
                    Methods
      of Payment (Check One):

                  

          

          

          
          

          
            
              	
                      ___

                    	
                      Alternative
      1.  Beneficiary shall mean the Primary Beneficiary if
      such Primary Beneficiary survives Participant, and shall mean the Primary
      Beneficiary's estate if such Primary Beneficiary survives Participant but
      thereafter dies.  The term Beneficiary shall mean the Secondary
      Beneficiary if the Primary Beneficiary fails to survive Participant, and
      shall mean the Secondary Beneficiary's estate when the Secondary
      Beneficiary thereafter dies.  If both the Primary and Secondary
      Beneficiaries fail to survive Participant, the term Beneficiary shall mean
      the Participant's estate.

                    

            

            

            
              	
                      ___

                    	
                      Alternative
      2.  Beneficiary shall mean the Primary Beneficiary if
      such Primary Beneficiary survives Participant, and shall mean the
      Secondary Beneficiary if either the Primary Beneficiary fails to survive
      Participant or the Primary Beneficiary survives Participant but thereafter
      dies.  If both the Primary and Secondary Beneficiaries fail to
      survive Participant, the term Beneficiary shall mean the Participant's
      estate.

                    

            

            

            
              	
                      ___

                    	
                      Alternative
      3.

                    	
                       

                    
	 	 	 
	 	 	 
	 	 	 

            

          
          

          
            
              
                 

              

              
                 

                
                  

                

              

              
                 

              

            

          

        

         

      

      
        	
                6.

              	
                Survivorship
      (Check One):

              

      

      

      
      

      
        
          	
                  ___

                	
                  Alternative
      1.  For purposes of this Beneficiary Designation, no
      person shall be deemed to have survived the Participant if that person
      dies within thirty (30) days of the Participant's
  death.

                

        

        

        
          	
                  ___

                	
                  Alternative
      2.  If the Participant and the Participant's spouse die
      under circumstances such that there is insufficient evidence to determine
      the order of their deaths or if the Participant's spouse outlives the
      Participant for any time whatsoever, the Participant's spouse shall be
      deemed to have survived the Participant.  For all other purposes
      of this Beneficiary Designation, no person shall be deemed to have
      survived the Participant if that person dies within thirty (30) days of
      the Participant's death.

                

        

      
      

      
        	
                7.

              	
                Duration:  This
      Beneficiary Designation is effective until the Participant files another
      such Designation with the Bank.  Any previous Beneficiary
      Designations are hereby revoked.

              

      

      

      
        	
                8.

              	
                Execution:

              

      

      

      Date:
________________ Participant:
___________________________________________________

      

      Witness: __________________

       

      
        	
                9.

              	
                Approval:  This
      Beneficiary Designation is acknowledged and approved this _____ day
      of __________, 20_____ and shall be effective as of the date executed by
      the Participant above.

              

      

      
 

      
        	 
      	
                TRUSTMARK
      NATIONAL BANK, JACKSON, MISSISSIPPI

              
	 
      	 
      
	 
      	 
      
	 
      	
                By

              	 
	 
      	 
      
	 
      	
                TitleUnassociated Document

    
      

    

    Exhibit
10-g

    

    

    

    Trustmark
Corporation

    Deferred
Compensation Plan

    Master
Plan Document

    

    

    As
Restated Effective December 31, 2007

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    TRUSTMARK
CORPORATION

    DEFERRED
COMPENSATION PLAN

    As
Restated Effective December 31, 2007

     

    

    Purpose

    

    This Plan
is an amendment and restatement of the Trustmark Corporation Deferred
Compensation Plan (Effective January 1, 2002) (sometimes referred to as the 2002
Plan).  The purpose of this Plan is to provide specified benefits to
Directors and a select group of management or highly compensated Employees who
are selected fro participation in this Plan and contribute materially to the
continued growth, development and future business success of Trustmark
Corporation, a Mississippi corporation, and its subsidiaries, if any, that
sponsor this Plan.  This Plan shall be unfunded for tax purposes and
for purposes of Title I of ERISA.

    

    The
purpose of this restatement of the Plan is to comply with the written plan
document requirements of Code Section 409A and related Treasury guidance and
Regulations with respect to Account Balances which are subject to Code Section
409A, and this Plan as restated shall be operated and interpreted in accordance
with this intention.  In order to transition to the requirements of
Code Section 409A and related Treasury Regulations, the Committee may make
available to Participants certain transition relief provided under Notice
2006-79, as described more fully in Appendix A of this Plan.

    

    In
addition, it is intended that the distribution and related provisions of the
2002 Plan shall continue to apply to Account Balances which are not subject to
Code Section 409A (that is, balances attributable to the amounts which were
earned and vested as of December 31, 2004, determined without regard to any
material amendment after October 3, 2004).  For that purpose, an
Appendix B has been added to this Plan; and that Appendix B generally contains
the distribution and related provisions of the 2002 Plan which shall continue to govern
all Account Balances which are not subject to Code Section 409A, while the terms and
conditions of this Plan document (other than Appendix B) shall govern all
Account Balances which are subject to Code Section 409A.

    

    Thus, it
is intended that the provisions of this Plan (exclusive of Appendix B) shall
generally apply to Account Balances which are subject to Code Section 409A, that
the terms and
conditions of the 2002 Plan regarding distributions of Account Balances
which are not subject to Code Section 409A shall continue to apply
by their inclusion in Appendix B so that Account Balances which are not
subject to Section Code 409A continue to be exempt from Code Section 409A, and
that the balance of the administrative and other provisions of this Plan shall
apply to Account Balances which are not subject to Code Section 409A, provided such
application would not be considered a material modification of the 2002 Plan
which would cause Account Balances which are not subject to Code Section
409A thereunder to become subject to Code Section 409A.

    

    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, an entry on the
      records of the Employer equal to the sum of the Participant’s Annual
      Accounts.  The 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.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    If a
Participant is both an Employee and a Director and participates in the Plan in
each capacity, then separate Account Balances (and separate Annual Accounts, if
applicable) shall be established for such Participant as a device for the
measurement and determination of the (a) amounts deferred under the Plan that
are attributable to the Participant’s status as an Employee, and (b) amounts
deferred under the Plan that are attributable to the Participant’s status as a
Director.

    

    
      	
              1.2

            	
              “Annual
      Account” shall mean, with respect to a Participant, an entry on the
      records of the Employer equal to (a) the sum of the Participant’s Annual
      Deferral Amount for any one Plan Year, plus (b) amounts credited or
      debited to such amounts pursuant to this Plan, less (c) all distributions
      made to the Participant or his or her Beneficiary pursuant to this Plan
      that relate to the Annual Account for such Plan Year.  The
      Annual Account 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.

            

    

    

    
      	
              1.3

            	
              “Annual
      Deferral Amount” shall mean that portion of a Participant's Base Salary,
      Bonus, Commissions and Director Fees that a Participant defers in
      accordance with Article 3 for any one Plan Year, without regard to whether
      such amounts are withheld and credited during such Plan
    Year.

            

    

    

    
      	
              1.4

            	
              “Annual
      Installment Method” shall mean the method used to determine the amount of
      each payment due to a Participant who has elected to receive a benefit
      over a period of years in accordance with the applicable provisions of the
      Plan.  The amount of each annual payment due to the Participant
      shall be calculated by multiplying the balance of the Participant’s
      benefit by a fraction, the numerator of which is one and the denominator
      of which is the remaining number of annual payments due to the
      Participant.  The amount of the first annual payment shall be
      calculated as of the close of business on or around the Participant’s
      Benefit Distribution Date, and the amount of
      each subsequent annual payment shall be calculated on or around each
      anniversary of such Benefit Distribution Date.  For purposes of
      this Plan, the right to receive a benefit payment in annual installments
      shall be treated as the entitlement to a single
  payment.

            

    

    

    
      	
              1.5

            	
              “Base
      Salary” shall mean the annual cash compensation relating to services
      performed during any calendar year, excluding distributions from
      nonqualified deferred compensation plans, bonuses, commissions, overtime,
      fringe benefits, stock options, relocation expenses, incentive payments,
      non-monetary awards, director fees and other fees, and automobile and
      other allowances paid to a Participant for employment services rendered
      (whether or not such allowances are included in the Employee’s gross
      income).  Base Salary shall be calculated before reduction for
      compensation voluntarily deferred or contributed by the Participant
      pursuant to all qualified or nonqualified 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.

            

    

    

    
      	
              1.6

            	
              “Beneficiary”
      shall mean one or more persons, trusts, estates or other entities,
      designated in accordance with Article 10, that are entitled to receive
      benefits under this Plan upon the death of a
  Participant.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              1.7

            	
              “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.

            

    

    

    
      	
              1.8

            	
              “Benefit
      Distribution Date” shall mean the date upon which all or an objectively
      determinable portion of a Participant’s vested benefits will become
      eligible for distribution.  Except as otherwise provided in the
      Plan, a Participant’s Benefit Distribution Date shall be determined based
      on the earliest to occur of an event or scheduled date set forth in
      Articles 4 through 9, as
applicable.

            

    

    

    
      	
              1.9

            	
              “Board”
      shall mean the board of directors of the
  Company.

            

    

    

    
      	
              1.10

            	
              “Bonus”
      shall mean any compensation, in addition to Base Salary and Commissions,
      earned by a Participant under any Employer's annual bonus and cash
      incentive plans.

            

    

    

    
      	
              1.11

            	
              “Change in Control” shall mean
      the first to occur of any of a Buyout, Merger, Dissolution, or Substantial
      Change in Ownership.  The following terms
      have the following meanings for this
  purpose:

            

    

    

    
      	
               
      

            	
              (a)

            	
              “Bank”
      shall mean Trustmark National Bank.

            

    

    

    
      	
               
      

            	
              (b)

            	
              “Buyout”
      shall mean a transaction or series of related transactions by which the
      Company or Bank is sold, either through the sale of a Controlling Interest
      in the Company’s or Bank’s voting stock or through the sale of
      substantially all of the Company’s or Bank’s assets, to a party not having
      a Controlling Interest in the Company’s or Bank’s voting
      stock.

            

    

    

    
      	
               
      

            	
              (c)

            	
              “Controlling
      Interest” shall mean ownership, either directly or indirectly, of more
      than 20% of the entity’s voting
stock.

            

    

    

    
      	
               
      

            	
              (d)

            	
              “Dissolution”
      shall mean the dissolution or liquidation of the Company or
      Bank.

            

    

    

    
      	
               
      

            	
              (e)

            	
              “Merger”
      shall mean a transaction or a series of transactions wherein the Company
      or Bank is combined with another business entity, and after which the
      persons or entities who had owned, either directly or indirectly, a
      Controlling Interest in the Company’s or Bank’s voting stock own less than
      a Controlling Interest in the voting stock of the combined
      entity.

            

    

    

    
      	
               
      

            	
              (f)

            	
              “Substantial
      Change in Ownership” shall mean a transaction or series of transactions in
      which a Controlling Interest in the Company or Bank is acquired by or for
      a person or business entity, either of which did not own, either directly
      or indirectly, a Controlling Interest in the Company or
      Bank.  The above shall not apply to stock purchased by any
      tax-qualified employee stock ownership plan or such type of benefit plan
      sponsored by the Company or any of its
  subsidiaries.

            

    

    

    
      	
              1.12

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

            

    

    

    
      	
              1.13

            	
              “Commissions”
      shall mean the cash commissions earned by a Participant during a Plan
      Year, as determined in accordance with Code Section 409A and related
      Treasury Regulations.

            

    

    

    
      	
              1.14

            	
              “Committee”
      shall mean the committee described in Article
  13.

            

    

    

    
      	
              1.15

            	
              “Company”
      shall mean Trustmark Corporation, a Mississippi corporation, and any
      successor to all or substantially all of the Company’s assets or
      business.

            

    

    

    
      	
              1.16

            	
              “Director”
      shall mean any member of the board of directors of any
      Employer.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              1.17

            	
              “Director
      Fees” shall mean the annual fees earned by a Director from any Employer,
      including retainer fees and meetings fees, as compensation for serving on
      the board of directors.

            

    

    

    
      	
              1.18

            	
              “Disability”
      or “Disabled” shall mean that a Participant is either (a) unable to engage
      in any substantial gainful activity by reason of any medically
      determinable physical or mental impairment that can be expected to result
      in death or can be expected to last for a continuous period of not less
      than 12 months, or (b) by reason of any medically determinable physical or
      mental impairment that can be expected to result in death or can be
      expected to last for a continuous period of not less than 12 months,
      receiving income replacement benefits for a period of not less than 3
      months under an accident and health plan covering employees of the
      Participant’s Employer.  For purposes of this Plan, a
      Participant shall be deemed Disabled if determined to be totally disabled
      by the Social Security Administration.  A Participant shall also
      be deemed Disabled if determined to be disabled in accordance with the
      applicable disability insurance program of such Participant’s Employer,
      provided that the definition of “disability” applied under such disability
      insurance program complies with the requirements of this
      Section.

            

    

    

    
      	
              1.19

            	
              “Election
      Form” shall mean the form, which may be in electronic format, 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.

            

    

    

    
      	
              1.20

            	
              “Employee”
      shall mean a person who is an employee of an
  Employer.

            

    

    

    
      	
              1.21

            	
              “Employer(s)”
      shall be defined as follows:

            

    

    

    
      	
               
      

            	
              (a)

            	
              Except
      as otherwise provided in part (b) of this Section, the term “Employer”
      shall mean the Company and/or any of its 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.

            

    

    

    
      	
               
      

            	
              (b)

            	
              For
      the purpose of determining whether a Participant has experienced a
      Separation from Service, the term “Employer” shall
  mean:

            

    

    

    
      	
               
      

            	
              (i)

            	
              The
      entity for which the Participant performs services and with respect to
      which the legally binding right to compensation deferred or contributed
      under this Plan arises; and

            

    

    

    
      	
               
      

            	
              (ii)

            	
              All
      other entities with which the entity described above would be aggregated
      and treated as a single employer under Code Section 414(b) (controlled
      group of corporations) and Code Section 414(c) (a group of trades or
      businesses, whether or not incorporated, under common control), as
      applicable.  In order to identify the group of entities
      described in the preceding sentence, the Committee shall use an ownership
      threshold of 80% when applying, the applicable provisions of (A) Code
      Section 1563 for determining a controlled group of corporations under Code
      Section 414(b), and (B) Treas. Reg. §1.414(c)-2 for determining the trades
      or businesses that are under common control under Code Section
      414(c).

            

    

    

    
      	
              1.22

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

            

    

    

    
      	
              1.23

            	
              “Participant”
      shall mean any Employee or Director (a) who is selected to participate in
      the Plan, (b) whose executed Plan Agreement, Election Form and Beneficiary
      Designation Form are accepted by the Committee, and (c) whose Plan
      Agreement has not terminated.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              1.24

            	
              “Performance-Based
      Compensation” shall mean compensation the entitlement to or amount of
      which is contingent on the satisfaction of pre-established organizational
      or individual performance criteria relating to a performance period of at
      least 12 consecutive months, as determined by the Committee in accordance
      with Treas. Reg. §1.409A-1(e).  The outcome under the applicable
      pre-established organizational or individual performance criteria must be
      substantially uncertain at the time of establishment, and the criteria
      must be established no later than 90 days after the beginning of the
      period of service to which the incentive compensation and performance
      relate.

            

    

    

    
      	
              1.25

            	
              “Plan”
      shall mean the Trustmark Corporation Deferred Compensation Plan, which
      shall be evidenced by this instrument, as it may be amended from time to
      time, and by any other documents that together with this instrument define
      a Participant’s rights to amounts credited to his or her Account
      Balance.

            

    

    

    
      	
              1.26

            	
              “Plan
      Agreement” shall mean a written agreement in the form prescribed by or
      acceptable to the Committee that evidences a Participant’s agreement to
      the terms of the Plan and which may establish additional terms or
      conditions of Plan participation for a Participant.  Unless
      otherwise determined by the Committee, the most recent Plan Agreement
      accepted with respect to a Participant shall supersede any prior Plan
      Agreements for such Participant.  Plan Agreements may vary among
      Participants and may provide additional benefits not set forth in the Plan
      or limit the benefits otherwise provided under the
  Plan.

            

    

    

    
      	
              1.27

            	
              “Plan
      Year” shall mean a period
      beginning on January 1 of each calendar year and continuing through
      December 31 of such calendar year.

            

    

    

    
      	
              1.28

            	
              “Retirement,”
      “Retire(s)” or “Retired” shall mean with respect to a Participant who is
      an Employee, a Separation from Service on or after the attainment of (a)
      age 65 or (b) age 50 with 5 Years of Service, and shall mean with respect
      to a Participant who is a Director, a Separation from Service on or after
      the attainment of age 65.  If a Participant is both an Employee
      and a Director and participates in the Plan in each capacity, (a) the
      determination of whether the Participant qualifies for Retirement as an
      Employee shall be made when the Participant experiences a Separation from
      Service as an Employee and such determination shall only apply to the
      applicable Account Balance established in accordance with Section 1.1 for
      amounts deferred under the Plan as an Employee, and (b) the determination
      of whether the Participant qualifies for Retirement as a Director shall be
      made at the time the Participant experiences a Separation from Service as
      a Director and such determination shall only apply to the applicable
      Account Balance established in accordance with Section 1.1 for amounts
      deferred under the Plan as a
Director.

            

    

    

    
      	
              1.29

            	
              “Separation
      from Service” shall mean a termination of services provided by a
      Participant to his or her Employer, whether voluntarily or involuntarily,
      other than by reason of death or Disability, as determined by the
      Committee in accordance with Treas. Reg. §1.409A-1(h).  In
      determining whether a Participant has experienced a Separation from
      Service, the following provisions shall
apply:

            

    

    

    
      	
               
      

            	
              (a)

            	
              For
      a Participant who provides services to an Employer as an Employee, except
      as otherwise provided in part (c) of this Section, a Separation from
      Service shall occur when such Participant has experienced a termination of
      employment with such Employer.  A Participant shall be
      considered to have experienced a termination of employment when the facts
      and circumstances indicate that the Participant and his or her Employer
      reasonably anticipate that either (i) no further services will be
      performed for the Employer after a certain date, or (ii) that the level of
      bona fide services the Participant will perform for the Employer after
      such date (whether as an Employee or as an independent contractor) will
      permanently decrease to less than 50% of the average level of bona fide
      services performed by such Participant (whether as an Employee or an
      independent contractor) over the immediately preceding 36-month period (or
      the full period of services to the Employer if the Participant has been
      providing services to the Employer less than 36
  months).

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    If a
Participant is on military leave, sick leave, or other bona fide leave of
absence, the employment relationship between the Participant and the Employer
shall be treated as continuing intact, provided that the period of such leave
does not exceed 6 months, or if longer, so long as the Participant retains a
right to reemployment with the Employer under an applicable statute or by
contract.  If the period of a military leave, sick leave, or other
bona fide leave of absence exceeds 6 months and the Participant does not retain
a right to reemployment under an applicable statute or by contract, the
employment relationship shall be considered to be terminated for purposes of
this Plan as of the first day immediately following the end of such 6-month
period.  In applying the provisions of this paragraph, a leave of
absence shall be considered a bona fide leave of absence only if there is a
reasonable expectation that the Participant will return to perform services for
the Employer.

    

    
      	
               
      

            	
              (b)

            	
              For
      a Participant who provides services to an Employer as an independent
      contractor, except as otherwise provided in part (c) of this Section, a
      Separation from Service shall occur upon the expiration of the contract
      (or in the case of more than one contract, all contracts) under which
      services are performed for such Employer, provided that the expiration of
      such contract(s) is determined by the Committee to constitute a good-faith
      and complete termination of the contractual relationship between the
      Participant and such Employer. 

            

    

    

    
      	
               
      

            	
              (c)

            	
              For
      a Participant who provides services to an Employer as both an Employee and
      an independent contractor, a Separation from
      Service generally shall not occur until the Participant has ceased
      providing services for such Employer as both as an Employee and as an
      independent contractor, as determined in accordance with the provisions
      set forth in parts (a) and (b) of this Section,
      respectively.  Similarly, if a Participant either (i) ceases
      providing services for an Employer as an independent contractor and begins
      providing services for such Employer as an Employee, or (ii) ceases
      providing services for an Employer as an Employee and begins providing
      services for such Employer as an independent contractor, the Participant
      will not be considered to have experienced a Separation from Service until
      the Participant has ceased providing services for such Employer in both
      capacities, as determined in accordance with the applicable provisions set
      forth in parts (a) and (b) of this Section. 

            

    

    

    Notwithstanding
the foregoing provisions in this part (c), if a Participant provides services
for an Employer as both an Employee and as a Director, to the extent permitted
by Treas. Reg. §1.409A-1(h)(5) the services provided by such Participant as a
Director shall not be taken into account in determining whether the Participant
has experienced a Separation from Service as an Employee, and the services
provided by such Participant as an Employee shall not be taken into account in
determining whether the Participant has experienced a Separation from Service as
a Director.

    

    
      	
              1.30

            	
              “Trust”
      shall mean one or more trusts established by the Company in accordance
      with Article 16.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              1.31

            	
              “Unforeseeable
      Emergency” shall mean a severe financial hardship of the Participant
      resulting from (a) an illness or accident of the Participant, the
      Participant’s spouse, the Participant’s Beneficiary or the Participant’s
      dependent (as defined in Code Section 152 without regard to paragraphs
      (b)(1), (b)(2) and (d)(1)(b) thereof), (b) a loss of the Participant’s
      property due to casualty, or (c) such other similar extraordinary and
      unforeseeable circumstances arising as a result of events beyond the
      control of the Participant, all as determined by the Committee based on
      the relevant facts and
circumstances.

            

    

    

    
      	
              1.32

            	
              “Years
      of Service” shall mean the total number of full years in which a
      Participant has been employed by one or more Employers.  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.  A partial year of employment shall not be treated as a
      Year of Service.

            

    

    

    ARTICLE
2

    Selection, Enrollment,
Eligibility

    

    
      	
              2.1

            	
              Selection
      by Committee.  Participation in the Plan shall be limited
      to Directors and a select group of management or highly compensated
      Employees, as determined by the Committee in its sole
      discretion.  From that group, the Committee shall select, in its
      sole discretion, those individuals who may actually participate in this
      Plan.

            

    

    

    
      	
              2.2

            	
              Enrollment
      and Eligibility Requirements; Commencement of
      Participation.

            

    

    

    
      	
               
      

            	
              (a)

            	
              As
      a condition to participation, each selected Director or Employee shall
      complete, execute and return to the Committee a Plan Agreement, an
      Election Form and a Beneficiary Designation Form by the deadline(s)
      established by the Committee in accordance with the applicable provisions
      of this Plan.  In addition, the Committee shall establish from
      time to time such other enrollment requirements as it determines, in its
      sole discretion, are necessary.

            

    

    

    
      	
               
      

            	
              (b)

            	
              Each
      selected Director or Employee who is eligible to participate in the Plan
      shall commence participation in the Plan on the date that the Committee
      determines that the Director or Employee 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.  

            

    

    

    
      	
               
      

            	
              (c)

            	
              If
      a Director or an Employee fails to meet all requirements established by
      the Committee within the period required, that Director or Employee shall
      not be eligible to participate in the Plan during such Plan
      Year.

            

    

    

    ARTICLE
3

    Deferral
Commitments/Vesting/Crediting/Taxes

    

    
      	
              3.1

            	
              Minimum
      and Maximum Deferral.

            

    

    

    
      	
               
      

            	
              (a)

            	
              Annual
      Deferral Amount.  For each Plan Year, a Participant may
      elect to defer, as his or her Annual Deferral Amount, subject to the
      limitations provided below, Base Salary, Bonus, Commissions and/or
      Director Fees up to the following maximum percentages for each deferral
      elected:

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
              Deferral

            	
              Maximum
      Percentage

            
	
              Base
      Salary

            	
              90%

            
	
              Bonus

            	
              90%

            
	
              Commissions

            	
              90%

            
	
              Director
      Fees

            	
              100%

            

    

    

    In
addition, the Annual Deferral Amount must be for an anticipated combined minimum
amount of $2,500 (assuming continued employment).  If an election is
made for less than the stated anticipated combined minimum amount (as determined
by the Committee), the election shall be void from the outset and the amount
deferred shall be zero; otherwise the election shall be given effect even if the
amount deferred actually is less than $2,500.

    

    
      	
               
      

            	
              (b)

            	
              Short
      Plan Year.  Notwithstanding the foregoing, if a
      Participant first becomes a Participant after the first day of a Plan
      Year, then to the extent required by Section 3.2 and Code Section 409A and
      related Treasury Regulations, the maximum amount of the Participant’s Base
      Salary, Bonus, Commissions or Director Fees that may be deferred by the
      Participant for the Plan Year shall be determined by applying the
      percentages set forth in Section 3.1(a) to the portion of such
      compensation attributable to services performed after the date that the
      Participant’s deferral election is
made.

            

    

    

    
      	
              3.2

            	
              Timing
      of Deferral Elections; Effect of Election
      Form.  

            

    

    

    
      	
               
      

            	
              (a)

            	
              General
      Timing Rule for Deferral Elections.  Except as otherwise
      provided in this Section, in order for a Participant to make a valid
      election to defer Base Salary, Bonus, Commissions and/or Director Fees,
      the Participant must submit an Election Form on or before the deadline
      established by the Committee, which in no event shall be later than the
      December 31st
      preceding the Plan Year in which such compensation will be
      earned.

            

    

    

    Any
deferral election made in accordance with this part (a) of this Section shall be
irrevocable; provided, however, that if the Committee permits or requires
Participants to make a deferral election by the deadline described above for an
amount that qualifies as Performance-Based Compensation, the Committee may
permit a Participant to subsequently change his or her deferral election for
such compensation by submitting a new Election Form in accordance with Section
3.2(d) below.

    

    
      	
               
      

            	
              (b)

            	
              Timing
      of Deferral Elections for Newly Eligible Plan
      Participants.  A selected Director or Employee who first
      becomes eligible to participate in the Plan on or after the beginning of a
      Plan Year, as determined in accordance with Treas. Reg.
      §1.409A-2(a)(7)(ii) and the “plan aggregation” rules provided in Treas.
      Reg. §1.409A-1(c)(2), may be permitted to make an election to defer the
      portion of Base Salary, Bonus, Commissions and/or Director Fees
      attributable to services to be performed after such election, provided
      that the Participant submits an Election Form on or before the deadline
      established by the Committee, which in no event shall be later than 30
      days after the Participant first becomes eligible to participate in the
      Plan.

            

    

    

    If a deferral election made in
accordance with this part (b) of this Section relates to compensation earned
based upon a specified performance period, the amount eligible for deferral
shall be equal to (i) the total amount of compensation for the performance
period, multiplied by (ii) a fraction, the numerator of which is the number of
days remaining in the service period after the Participant’s deferral election
is made, and the denominator of which is the total number of days in the
performance period. 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Any
deferral election made in accordance with this part (b) of this Section shall
become irrevocable no later than the 30th day
after the date the selected Director or Employee becomes eligible to participate
in the Plan.

    

    
      	
               
      

            	
              (c)

            	
              Timing
      of Deferral Elections for Fiscal Year Compensation.  In
      the event that the fiscal year of an Employer is different than the
      taxable year of a Participant, the Committee may determine that a deferral
      election may be made for “fiscal year compensation” (as defined below), by
      submitting an Election Form on or before the deadline established by the
      Committee, which in no event shall be later than the last day of the
      Employer’s fiscal year immediately preceding the fiscal year in which the
      services related to such compensation will begin to be
      performed.  For purposes of this Section, the term “fiscal year
      compensation” shall only include Bonus relating to a service period
      coextensive with one or more consecutive fiscal years of the Employer, of
      which no amount is paid or payable during the Employer’s fiscal year(s)
      that constitute the service period.

            

    

    

    A
deferral election made in accordance with this part (c) of this Section shall be
irrevocable; provided, however, that if the Committee permits or requires
Participants to make a deferral election by the deadline described in this part
(c) of this Section for an amount that qualifies as Performance-Based
Compensation, the Committee may permit a Participant to subsequently change his
or her deferral election for such compensation by submitting a new Election Form
in accordance with part (d) of Section 3.2 below. 

    

    
      	
               
      

            	
              (d)

            	
              Timing
      of Deferral Elections for Performance-Based Compensation. Subject to the
      limitations described below, the Committee may determine that an
      irrevocable deferral election for an amount that qualifies as
      Performance-Based Compensation may be made by submitting an Election Form
      on or before the deadline established by the Committee, which in no event
      shall be later than 6 months before the end of the performance
      period.  

            

    

    

    In order
for a Participant to be eligible to make a deferral election for
Performance-Based Compensation in accordance with the deadline established
pursuant to this part (d) of this Section, the Participant must have performed
services continuously from the later of (i) the beginning of the performance
period for such compensation, or (ii) the date upon which the performance
criteria for such compensation are established, through the date upon which the
Participant makes the deferral election for such compensation.  In no
event shall a deferral election submitted under this part (d) of this Section be
permitted to apply to any amount of Performance-Based Compensation that has
become readily ascertainable.

    

    
      	
               
      

            	
              (e)

            	
              Timing
      Rule for Deferral of Compensation Subject to Risk of
      Forfeiture.  With respect to compensation (i) to which a
      Participant has a legally binding right to payment in a subsequent year,
      and (ii) that is subject to a forfeiture condition requiring the
      Participant’s continued services for a period of at least 12 months from
      the date the Participant obtains the legally binding right, the Committee
      may determine that an irrevocable deferral election for such compensation
      may be made by timely delivering an Election Form to the Committee in
      accordance with its rules and procedures, no later than the 30th
      day after the Participant obtains the legally binding right to the
      compensation, provided that the election is made at least 12 months in
      advance of the earliest date at which the forfeiture condition could
      lapse, as determined in accordance with Treas. Reg.
      §1.409A-2(a)(5).

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Any
deferral election(s) made in accordance with this part (e) of this Section shall
become irrevocable no later than the 30th day
after the Participant obtains the legally binding right to the compensation
subject to such deferral election(s).

    

    
      	
              3.3

            	
              Withholding
      and Crediting of Annual Deferral Amounts.  For each Plan
      Year, the Base Salary portion of the Annual Deferral Amount shall be
      withheld from each regularly scheduled Base Salary payroll in equal
      amounts, as adjusted from time to time for increases and decreases in Base
      Salary.  The Bonus, Commissions and/or Director Fee’s portion of
      the Annual Deferral Amount shall be withheld at the time the Bonus,
      Commissions or Director Fees are or otherwise would be paid to the
      Participant, whether or not this occurs during the Plan Year
      itself.  Annual Deferral Amounts shall be credited to the
      Participant’s Annual Account for such Plan Year at the time such amounts
      would otherwise have been paid to the
  Participant.

            

    

    

    
      	
              3.4

            	
              Vesting.  A
      Participant shall at all times be 100% vested in the portion of his or her
      Account Balance attributable to Annual Deferral Amounts, plus amounts
      credited or debited on such amounts pursuant to Section
    3.5.

            

    

    

    
      	
              3.5

            	
              Crediting/Debiting
      of Account Balances.  In accordance with, and subject to,
      the rules and procedures that are established from time to time by the
      Committee, in its sole discretion, amounts shall be credited or debited to
      a Participant's Account Balance in accordance with the following
      rules:

            

    

    

    
      	
               
      

            	
              (a)

            	
              Measurement
      Funds.  A Participant may elect one or more of the
      measurement funds selected by the Committee, in its sole discretion, which
      are based on certain mutual funds (the “Measurement Funds”), for the
      purpose of crediting or debiting additional amounts to his or her Account
      Balance.  As necessary, the Committee may, in its sole
      discretion, discontinue, substitute or add a Measurement
      Fund.  Each such action will take effect as of the first day of
      the first calendar quarter that begins at least 30 days after the day on
      which the Committee gives Participants advance written notice of such
      change.

            

    

    

    
      	
               
      

            	
              (b)

            	
              Election
      of Measurement Funds.  A Participant, in connection with
      his or her initial deferral election in accordance with Section 3.2 above,
      shall elect, on the Election Form, one or more Measurement Fund(s) (as
      described in Section 3.5(a) above) to be used to determine the amounts to
      be credited or debited to his or her Account Balance.  If a
      Participant does not elect any of the Measurement Funds as described in
      the previous sentence, the Participant’s Account Balance shall
      automatically be allocated into the lowest-risk Measurement Fund, as
      determined by the Committee, in its sole discretion.  A
      Participant may (but is not required to) elect, by submitting an Election
      Form to the Committee that is accepted by the Committee, to add or delete
      one or more Measurement Fund(s) to be used to determine the amounts to be
      credited or debited to his or her Account Balance, or to change the
      portion of his or her Account Balance allocated to each previously or
      newly elected Measurement Fund.  If an election is made in
      accordance with the previous sentence, it shall apply as of the first
      business day deemed reasonably practicable by the Committee, in its sole
      discretion, and shall continue thereafter for each subsequent day in which
      the Participant participates in the Plan, unless changed in accordance
      with the previous sentence.  Notwithstanding the foregoing, the
      Committee, in its sole discretion, may impose limitations on the frequency
      with which one or more of the Measurement Funds elected in accordance with
      this part (b) of this Section may be added or deleted by such Participant;
      furthermore, the Committee, in its sole discretion, may impose limitations
      on the frequency with which the Participant may change the portion of his
      or her Account Balance allocated to each previously or newly elected
      Measurement Fund.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (c)

            	
              Proportionate
      Allocation.  In making any election described in part (b)
      of this Section above, the Participant shall specify on the Election Form,
      in increments of 1%, the percentage of his or her Account Balance or
      Measurement Fund, as applicable, to be
    allocated/reallocated.

            

    

    

    
      	
               
      

            	
              (d)

            	
              Crediting
      or Debiting Method.  The performance of each Measurement
      Fund (either positive or negative) will be determined on a daily basis
      based on the manner in which such Participant’s Account Balance has been
      hypothetically allocated among the Measurement Funds by the
      Participant.

            

    

    

    
      	
               
      

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

            

    

    

    
      	
              3.6

            	
              FICA
      and Other Taxes.

            

    

    

    
      	
               
      

            	
              (a)

            	
              Annual
      Deferral Amounts.  For each Plan Year in which an Annual
      Deferral Amount is being withheld from a Participant, the Participant’s
      Employer(s) shall withhold from that portion of the Participant’s Base
      Salary, Bonus and/or Commissions 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.

            

    

    

    
      	
               
      

            	
              (b)

            	
              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.

            

    

    

    
      	
              3.7

            	
              Automatic
      Cancellation of Deferral Election upon Receipt of Hardship Withdrawal from
      a 401(k) Plan.

            

    

    

    
      	
               
      

            	
              (a)

            	
              A
      Participant’s deferral elections under this Plan in effect at the time of
      a 401(k) hardship withdrawal shall be cancelled (rather than postponed or
      delayed) prospectively so that no further deferrals from his Base Salary,
      Bonus, Commissions and/or Director Fees shall be made during the 401(k)
      hardship withdrawal required cancellation period or with respect to the
      calendar year in which the 401(k) hardship withdrawal required
      cancellation period begins.  Such cancellation shall be effected
      in accordance with the requirements of Code Section 409A and, to the
      extent not inconsistent therewith, the provisions of this
      Section.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (b)

            	
              A
      Participant whose deferral elections under this Plan are cancelled
      pursuant to this Section may file a new deferral election in order to
      commence or recommence making deferrals under the Plan from his Base
      Salary, Bonus, Commissions and/or Director Fees at the later of
      (i) the first payroll period that commences after the end of the
      401(k) hardship withdrawal required cancellation period or (ii) the
      Participant’s next election period under the Plan.  The new
      election shall be made in the same manner as other elections under the
      Plan, but no later than the last day required for filing the Participant’s
      next or any subsequent election on or following which the Participant’s
      deferrals from his compensation will commence or recommence, and shall
      apply only to Base Salary, Bonus, Commissions and/or Director Fees earned
      after the new election becomes effective as and to the extent required by
      Code Section 409A.

            

    

    

    
      	
               
      

            	
              (c)

            	
              For
      purposes hereof, the following terms have the following
      meanings:

            

    

    

    
      	
               
      

            	
              (i)

            	
              A
      “401(k) hardship withdrawal” is a hardship withdrawal from a 401(k) plan
      which requires a suspension of employee contributions and elective
      deferrals as a result of receipt of the hardship withdrawal in order to
      satisfy the regulations under Code Section
  401(k).

            

    

    

    
      	
               
      

            	
              (ii)

            	
              The
      “401(k) hardship withdrawal required cancellation period” means the 6
      month period (or other stated period in the 401(k) plan) during which
      employee contributions and elective deferrals must be suspended as a
      result of receipt of a 401(k) hardship withdrawal in order to satisfy the
      regulations under Code Section
401(k).

            

    

    

    
      	
               
      

            	
              (iii)

            	
              A
      “401(k) Plan” means a plan qualified under Code Section 401(a) that
      contains a cash or deferral arrangement described in Code Section 401(k)
      maintained by the Employer or any other business entity or other
      organization (whether or not incorporated) which during the relevant
      period is treated (but only for the portion of the period so treated and
      for the purpose and to the extent required to be so treated) as a single
      employer with the Employer or any affiliate under Code Section 414(b),
      (c), (m) or (o), as it may be amended from time to time, or any successor
      thereto.

            

    

    

    
      	
              3.8

            	
              Automatic
      Suspension
      of Deferral Right upon
      Receipt of Voluntary
      Withdrawal pursuant to the 2002 Plan.  Under
      Section 4.4 of the 2002 Plan (see Appendix B), 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 under the 2002 Plan,
      less a withdrawal penalty equal to 10% of such amount (the net amount
      shall be referred to as the “Withdrawal Amount”).  Once the
      Withdrawal Amount is paid, the Participant's participation in the Plan
      shall be suspended from making deferral elections for the Plan Year
      immediately following the Plan Year the distribution is made and for the
      first portion of the next Plan Year after such full Plan Year of
      suspension equal to the remainder of the Plan Year following the date the
      distribution is made.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ARTICLE
4

    Short-Term
Payout

    

    
      	
              4.1

            	
              Short-Term
      Payouts.  In connection with each election to defer an
      Annual Deferral Amount, a Participant may elect to receive all or a
      portion of such Annual Deferral Amount, plus amounts credited or debited
      on that amount pursuant to Section 3.5, in the form of a lump sum payment,
      calculated as of the close of business on or around the Benefit
      Distribution Date designated by the Participant in accordance with this
      Section (a “Short-Term Payout”).  The Benefit Distribution Date
      for the amount subject to a Short-Term Payout election shall be the first
      day of any Plan Year designated by the Participant, which may be no sooner
      than 2 Plan Years after the end of the Plan Year to which the
      Participant’s deferral election relates, unless otherwise provided on an
      Election Form approved by the
Committee.

            

    

    

    Subject
to the other terms and conditions of this Plan, each Short-Term Payout elected
shall be paid out during a 60 day period commencing immediately after the
Benefit Distribution Date.  By way of example, if a Short-Term Payout
is elected for Annual Deferral Amounts that are earned in the Plan Year
commencing January 1, 2008, the earliest Benefit Distribution Date that may be
designated by a Participant would be January 1, 2011, and the Short-Term Payout
would be paid out during the 60 day period commencing immediately after such
Benefit Distribution Date. 

    

    
      	
              4.2

            	
              Postponing
      Short-Term Payouts.  With respect to each Short-Term
      Payout, a Participant may elect one time only to postpone a Short-Term
      Payout described in Section 4.1 above, and have such amount paid out
      during a 60 day period commencing immediately after an allowable
      alternative Benefit Distribution Date designated in accordance with this
      Section.  In order to make such an election, the Participant
      must submit an Election Form to the Committee in accordance with the
      following criteria:

            

    

    

    
      	
               
      

            	
              (a)

            	
              The
      election of the new Benefit Distribution Date shall have no effect until
      at least 13 months after the date on which the election is
      made;

            

    

    

    
      	
               
      

            	
              (b)

            	
              The
      new Benefit Distribution Date selected by the Participant for such
      Short-Term Payout must be the first day of a Plan Year that is no sooner
      than 5 years after the previously designated Benefit Distribution Date;
      and

            

    

    

    
      	
               
      

            	
              (c)

            	
              The
      election must be made at least 13 months
      prior to the Participant's previously designated Benefit Distribution Date
      for such Short-Term Payout.

            

    

    

    For
purposes of applying the provisions of this Section, a Participant’s election to
postpone a Short-Term Payout shall not be considered to be made until the
date on which the election becomes irrevocable.  Such an election
shall become irrevocable no later than the date that is 13 months prior to the
Participant’s previously designated Benefit Distribution Date for such
Short-Term Payout.

    

    
      	
              4.3

            	
              Other
      Benefits Take Precedence Over Short-Term Payouts.  Should
      an event occur prior to any Benefit Distribution Date designated for a
      Short-Term Payout that would trigger a benefit under Articles 5 through 9,
      as applicable, all amounts subject to a Short-Term Payout election shall
      be paid in accordance with the other applicable provisions of the Plan and
      not in accordance with this Article
4.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ARTICLE
5

    Unforeseeable
Emergencies

    

    
      	
              5.1

            	
              Unforeseeable
      Emergencies.

            

    

    

    
      	
               
      

            	
              (a)

            	
              If
      a Participant experiences an Unforeseeable Emergency prior to the
      occurrence of a distribution event described in Articles 6 through 9, as
      applicable, the Participant may petition the Committee to receive a
      partial or full payout from the Plan.  The payout, if any, from
      the Plan shall not exceed the lesser of (i) the Participant's vested
      Account Balance, calculated as of the close of business on or around the
      Benefit Distribution Date for such payout, as determined by the Committee
      in accordance with provisions set forth below, or (ii) the amount
      necessary to satisfy the Unforeseeable Emergency, plus amounts necessary
      to pay Federal, state, or local income taxes or penalties reasonably
      anticipated as a result of the distribution.  A Participant
      shall not be eligible to receive a payout from the Plan to the extent that
      the Unforeseeable Emergency is or may be relieved (A) through
      reimbursement or compensation by insurance or otherwise, (B) by
      liquidation of the Participant’s assets, to the extent the liquidation of
      such assets would not itself cause severe financial hardship or (C) by
      cessation of deferrals under this
Plan.

            

    

    

    
      	
               
      

            	
              (b)

            	
              If
      the Committee, in its sole discretion, approves a Participant’s petition
      for payout from the Plan, the Participant’s Benefit Distribution Date for
      such payout shall be the date on which such Committee approval occurs and
      such payout shall be distributed to the Participant in a lump sum no later
      than 60 days after such Benefit Distribution Date.  In addition,
      in the event of such approval the Participant’s outstanding deferral
      elections under the Plan shall be
cancelled.

            

    

    

    ARTICLE
6

    Retirement
Benefit

    

    
      	
              6.1

            	
              Retirement
      Benefit.  If a Participant experiences a Separation from
      Service that qualifies as a Retirement, the Participant shall be eligible
      to receive his or her vested Account Balance in either a lump sum or
      annual installment payments, as elected by the Participant in accordance
      with Section 6.2 (the “Retirement Benefit”).  A Participant’s
      Retirement Benefit shall be calculated as of the close of business on or
      around the applicable Benefit Distribution Date for such benefit, which
      shall be (a) a date selected by the Committee in the immediately following
      January in the case Participants who experience a Separation from Service
      during the first half (January through June) of a calendar year or (b) a
      date selected by the Committee in the immediately following July in the
      case Participants who experience a Separation from Service during the
      second half (July through December) of a calendar year; provided, however,
      if a Participant changes the form of distribution for the Retirement
      Benefit in accordance with Section 6.2(b), the Benefit Distribution Date
      for the Retirement Benefit shall be determined in accordance with Section
      6.2(b).

            

    

    

    
      	
              6.2

            	
              Payment
      of Retirement Benefit.

            

    

    

    
      	
               
      

            	
              (a)

            	
              The
      Retirement Benefit shall be paid to the Participant during the calendar
      month which contains the Participant’s Benefit Distribution
      Date.

            

    

    

    
      	
               
      

            	
              (b)

            	
              A
      Participant, in connection with his or her commencement of participation
      in the Plan, shall elect on an Election Form to receive the Retirement
      Benefit in a lump sum or pursuant to an Annual Installment Method between
      2 and 20 years.  If a Participant does not make any election
      with respect to the payment of the Retirement Benefit, then such
      Participant shall be deemed to have elected to receive the Retirement
      Benefit as a lump sum.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (c)

            	
              A
      Participant may change, twice but not more than twice, the form of payment
      for the Retirement Benefit by submitting an Election Form to the Committee
      in accordance with the following
criteria:

            

    

    

    
      	
               
      

            	
              (i)

            	
              The
      election shall not take effect until at least 13 months after the date on
      which the election is made;

            

    

    

    
      	
               
      

            	
              (ii)

            	
              The
      new Benefit Distribution Date for the Participant’s Retirement Benefit
      shall be 5 years after the Benefit Distribution Date that would otherwise
      have been applicable to such benefit;
and

            

    

    

    
      	
               
      

            	
              (iii)

            	
              The
      election must be made at least 13 months prior to the Benefit Distribution
      Date that would otherwise have been applicable to the Participant’s
      Retirement Benefit.

            

    

    

    For
purposes of applying the provisions of this part (b) of this Section, a
Participant’s election to change the form of payment for the Retirement Benefit
shall not be considered to be made until the date on which the election becomes
irrevocable.  Such an election shall become irrevocable no later than
the date that is 13 months prior to the Benefit Distribution Date that would
otherwise have been applicable to the Participant’s Retirement
Benefit.  Subject to the requirements of this part (b) of this
Section, the Election Form most recently accepted by the Committee that has
become effective shall govern the form of payout of the Participant’s Retirement
Benefit.

    

    
      	
               
      

            	
              (d)

            	
              The
      lump sum payment shall be made, or installment payments shall commence
      during the calendar month which contains the Participant’s Benefit
      Distribution Date.  Remaining installments, if any, shall be
      paid during the calendar month which contains each anniversary of the
      Participant’s Benefit Distribution
Date.

            

    

    

    ARTICLE
7

    Termination
Benefit

    

    
      	
              7.1

            	
              Termination
      Benefit.  If a Participant experiences a Separation from
      Service that does not qualify as a Retirement, the Participant shall
      receive his or her vested Account Balance in either a lump sum or annual
      installment payments, as elected by the Participant in accordance with
      Section 6.2 (the “Termination Benefit”).  A Participant’s
      Termination Benefit shall be calculated as of the close of business on or
      around the applicable Benefit Distribution Date for such benefit, which
      shall be (a) a date selected by the Committee in the immediately following
      January in the case Participants who experience a Separation from Service
      during the first half (January through June) of a calendar year or (b) a
      date selected by the Committee in the immediately following July in the
      case Participants who experience a Separation from Service during the
      second half (July through December) of a calendar
  year.

            

    

    

    
      	
              7.2

            	
              Payment
      of Termination Benefit.

            

    

    

    
      	
               
      

            	
              (a)

            	
              The
      Termination Benefit shall be paid to the Participant during the calendar
      month which contains the Participant’s Benefit Distribution
      Date.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (b)

            	
              A
      Participant, in connection with his or her commencement of participation
      in the Plan, shall elect on an Election Form to receive the Termination
      Benefit in a lump sum or pursuant to an Annual Installment Method over 3
      years.  If a Participant does not make any election with respect
      to the payment of the Termination Benefit, then such Participant shall be
      deemed to have elected to receive the Termination Benefit as a lump
      sum.  Unless otherwise permitted by the Committee, the same
      payment election must be made for the Participant’s Termination Benefit,
      Disability Benefit and Death
Benefit.

            

    

    

    
      	
               
      

            	
              (c)

            	
              A
      Participant may not change the form of payment for the Termination
      Benefit.

            

    

    

    ARTICLE
8

    Disability
Benefit

    

    
      	
              8.1

            	
              Disability
      Benefit. If a Participant becomes Disabled prior to the occurrence
      of a distribution event described in Articles 6 through 7, as applicable,
      the Participant shall receive his or her vested Account Balance in either
      a lump sum or annual installment payments, as elected by the Participant
      in accordance with Section 6.2 (the “Disability Benefit”).  A
      Participant’s Disability Benefit shall be calculated as of the close of
      business on or around the applicable Benefit Distribution Date for such
      benefit, which shall be (a) a date selected by the Committee in the
      immediately following July in the case Participants who become Disabled
      during the first half (January through June) of a calendar year or (b) a
      date selected by the Committee in the immediately following January in the
      case Participants who become Disabled during the second half (July through
      December) of a calendar year.

            

    

    

    
      	
              8.2

            	
              Payment
      of Disability Benefit. 

            

    

    

    
      	
               
      

            	
              (a)

            	
              The
      Disability Benefit shall be paid to the Participant during the calendar
      month which contains the Participant’s Benefit Distribution
      Date.

            

    

    

    
      	
               
      

            	
              (b)

            	
              A
      Participant, in connection with his or her commencement of participation
      in the Plan, shall elect on an Election Form to receive the Disability
      Benefit in a lump sum or pursuant to an Annual Installment Method over 3
      years.  If a Participant does not make any election with respect
      to the payment of the Disability Benefit, then such Participant shall be
      deemed to have elected to receive the Disability Benefit as a lump
      sum.  Unless otherwise permitted by the Committee, the same
      payment election must be made for the Participant’s Termination Benefit,
      Disability Benefit and Death
Benefit.

            

    

    

    
      	
               
      

            	
              (c)

            	
              A
      Participant may not change the form of payment for the Disability
      Benefit.

            

    

    

    ARTICLE
9

    Death
Benefit

    

    
      	
              9.1

            	
              Death
      Benefit.  In the event of a Participant’s death prior to
      the complete distribution of his or her vested Account Balance, the
      Participant's Beneficiary(ies) shall receive the Participant's unpaid
      vested Account Balance in either a lump sum or annual installment
      payments, as elected by the Participant in accordance with Section 6.2
      (the “Death Benefit”).  The Death Benefit shall be calculated as
      of the close of business on or around the applicable Benefit Distribution
      Date for such benefit, which shall be (a) a date selected by the Committee
      in the immediately following July in the case Participants who die during
      the first half (January through June) of a calendar year or (b) a date
      selected by the Committee in the immediately following January in the case
      Participants who die during the second half (July through December) of a
      calendar year or (c) if later, the date on which the Committee is provided
      with proof that is satisfactory to the Committee of the Participant’s
      death.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    9.2           Payment
of Death Benefit.

    

    
      	
               
      

            	
              (a)

            	
              The
      Death Benefit shall be paid to the Participant’s Beneficiary(ies) during
      the calendar month which contains the Participant’s Benefit Distribution
      Date.

            

    

    

    
      	
               
      

            	
              (b)

            	
              A
      Participant, in connection with his or her commencement of participation
      in the Plan, shall elect on an Election Form to receive the Death Benefit
      in a lump sum or pursuant to an Annual Installment Method over 3
      years.  If a Participant does not make any election with respect
      to the payment of the Death Benefit, then such Participant shall be deemed
      to have elected to receive the Death Benefit as a lump
      sum.  Unless otherwise permitted by the Committee, the same
      payment election must be made for the Participant’s Termination Benefit,
      Disability Benefit and Death
Benefit.

            

    

    

    
      	
               
      

            	
              (c)

            	
              A
      Participant may not change the form of payment for the Death
      Benefit.

            

    

    

    ARTICLE
10

    Beneficiary
Designation

    

    
      	
              10.1

            	
              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.

            

    

    

    
      	
              10.2

            	
              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, the Committee
      may, in its sole discretion, determine that spousal consent is required to
      be provided in a form designated by the Committee, executed by such
      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.

            

    

    

    
      	
              10.3

            	
              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.

            

    

    

    
      	
              10.4

            	
              No
      Beneficiary Designation.  If a Participant fails to
      designate a Beneficiary as provided in Sections 10.1, 10.2 and 10.3 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.

            

    

    

    
      	
              10.5

            	
              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.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              10.6

            	
              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
11

    Leave of
Absence

    

    
      	
              11.1

            	
              Paid
      Leave of Absence.  If a Participant is authorized by the
      Participant's Employer to take a paid leave of absence from the employment
      of the Employer, and such leave of absence does not constitute a
      Separation from Service, (a) the Participant shall continue to be
      considered eligible for the benefits provided under the Plan, and (b) the
      Annual Deferral Amount shall continue to
      be withheld during such paid leave of absence in accordance with Section
      3.2.

            

    

    

    
      	
              11.2

            	
              Unpaid
      Leave of Absence.  If a Participant is authorized by the
      Participant's Employer to take an unpaid leave of absence from the
      employment of the Employer for any reason, and such leave of absence does
      not constitute a Separation from Service, such Participant shall continue
      to be eligible for the benefits provided under the Plan.  During
      the unpaid leave of absence, the Participant shall not be allowed to make
      any additional deferral elections.  However, if the Participant
      returns to employment, the Participant may elect to defer an Annual
      Deferral Amount for the Plan Year following his or her return to
      employment and for every Plan Year thereafter while a Participant in the
      Plan, provided such deferral elections are otherwise allowed and an
      Election Form is delivered to and accepted by the Committee for each such
      election in accordance with Section 3.2
above.

            

    

    

    ARTICLE
12

    Termination of Plan,
Amendment or Modification

    

    
      	
              12.1

            	
              Termination
      of Plan.  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 terminate the Plan with respect to all of its
      Participants.  In the event of a Plan termination no new
      deferral elections shall be permitted for the affected
      Participants.  However, after the Plan termination the Account
      Balances of such Participants shall continue to be credited with Annual
      Deferral Amounts attributable to a deferral election that was in effect
      prior to the Plan termination to the extent deemed necessary to comply
      with Code Section 409A and related Treasury Regulations, and additional
      amounts shall continue to credited or debited to such Participants’
      Account Balances pursuant to Section 3.5.  The Measurement Funds
      available to Participants following the termination of the Plan shall be
      comparable in number and type to those Measurement Funds available to
      Participants in the Plan Year preceding the Plan Year in which the Plan
      termination is effective.  In addition, following a Plan
      termination, Participant Account Balances shall remain in the Plan and
      shall not be distributed until such amounts become eligible for
      distribution in accordance with the other applicable provisions of the
      Plan. Notwithstanding
      the preceding sentence, to the extent permitted by Treas. Reg.
      §1.409A-3(j)(4)(ix), the Employer may provide that upon termination of the
      Plan, all Account Balances of the Participants shall be distributed,
      subject to and in accordance with any rules established by such Employer
      deemed necessary to comply with the applicable requirements and
      limitations of Treas. Reg.
§1.409A-3(j)(4)(ix).

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              12.2

            	
              Amendment.  Any
      Employer may, at any time, amend or modify the Plan in whole or in part
      with respect to that Employer.  Notwithstanding the foregoing,
      (i) no amendment or modification shall be effective to decrease the value
      of a Participant's vested Account Balance in existence at the time the
      amendment or modification is made, and (ii) no amendment or modification
      of this Section or Section 13.2 of the Plan shall be effective.
      

            

    

    

    
      	
              12.3

            	
              Plan
      Agreement.  Despite the provisions of Sections 12.1, 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 written consent of the
  Participant.

            

    

    

    
      	
              12.4

            	
              Effect
      of Payment.  The full payment of the Participant’s vested
      Account Balance in accordance with the applicable provisions 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
13

    Administration

    

    
      	
              13.1

            	
              Committee
      Duties.  Except as otherwise provided in this Article 13,
      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 (a) make, amend,
      interpret, and enforce all appropriate rules and regulations for the
      administration of this Plan, and (b) decide or resolve any and all
      questions, including benefit entitlement determinations and
      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.

            

    

    

    
      	
              13.2

            	
              Administration
      Upon Change In Control. Within 120 days following a Change in
      Control, the individuals who comprised the Committee immediately prior to
      the Change in Control (whether or not such individuals are members of the
      Committee following the Change in Control) may, by written consent of the
      majority of such individuals, appoint an independent third party
      administrator (the “Administrator”) to perform any or all of the
      Committee’s duties described in Section 13.1 above, including without
      limitation, the power to determine any questions arising in connection
      with the administration or interpretation of the Plan, and the power to
      make benefit entitlement determinations.  Upon and after the
      effective date of such appointment, (a) the Company must pay all
      reasonable administrative expenses and fees of the Administrator, and (b)
      the Administrator may only be terminated with the written consent of the
      majority of Participants with an Account Balance in the Plan as of the
      date of such proposed termination.

            

    

    

    
      	
              13.3

            	
              Agents.
      In the administration of this Plan, the Committee or the Administrator, as
      applicable, 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.

            

    

    

    
      	
              13.4

            	
              Binding
      Effect of Decisions.  The decision or action of the
      Committee or Administrator, as applicable, 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.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              13.5

            	
              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.

            

    

    

    
      	
              13.6

            	
              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 Plan,
      the Trust, the Participants and their Beneficiaries, the Account Balances
      of the Participants, the compensation of its Participants, the date and
      circumstances of the Separation from Service, Disability or death of its
      Participants, and such other pertinent information as the Committee or
      Administrator may reasonably
require.

            

    

    

    ARTICLE
14

    Other Benefits and
Agreements

    

    
      	
              14.1

            	
              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
15

    Claims
Procedures

    

    
      	
              15.1

            	
              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 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.

            

    

    

    
      	
              15.2

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

            

    

    

    
      	
               
      

            	
              (a)

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

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (b)

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

            

    

    

    
      	
               
      

            	
              (i)

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

            

    

    

    
      	
               
      

            	
              (ii)

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

            

    

    

    
      	
               
      

            	
              (iii)

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

            

    

    

    
      	
               
      

            	
              (iv)

            	
              an
      explanation of the claim review procedure set forth in Section 15.3 below;
      and

            

    

    

    
      	
               
      

            	
              (v)

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

            

    

    

    
      	
              15.3

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

            

    

    

    
      	
               
      

            	
              (a)

            	
              may,
      upon request and free of charge, have reasonable access to, and copies of,
      all documents, records and other information relevant (as defined in
      applicable ERISA regulations) to the claim for
  benefits;

            

    

    

    
      	
               
      

            	
              (b)

            	
              may
      submit written comments or other documents;
  and/or

            

    

    

    
      	
               
      

            	
              (c)

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

            

    

    

    
      	
              15.4

            	
              Decision
      on Review.  The Committee shall render its decision on
      review promptly, and no later than 60 days after the Committee receives
      the Claimant’s written request for a review of the denial of the
      claim.  If the Committee determines that special circumstances
      require an extension of time for processing the claim, written notice of
      the extension shall be furnished to the Claimant prior to the termination
      of the initial 60 day period.  In no event shall such extension
      exceed a period of 60 days from the end of the initial
      period.  The extension notice shall indicate the special
      circumstances requiring an extension of time and the date by which the
      Committee expects to render the benefit determination.  In
      rendering its decision, the Committee shall take into account all
      comments, documents, records and other information submitted by the
      Claimant relating to the claim, without regard to whether such information
      was submitted or considered in the initial benefit
      determination.  The decision must be written in a manner
      calculated to be understood by the Claimant, and it must
      contain:

            

    

    

    
      	
               
      

            	
              (a)

            	
              specific
      reasons for the decision;

            

    

    

    
      	
               
      

            	
              (b)

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

            

    

    

    
      	
               
      

            	
              (c)

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

            

    

    

    
      	
               
      

            	
              (d)

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

            

    

    

    
      	
              15.5

            	
              Legal
      Action.  A Claimant's compliance with the foregoing
      provisions of this Article 15 is a mandatory prerequisite to a Claimant's
      right to commence any legal action with respect to any claim for benefits
      under this Plan.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ARTICLE
16

    Trust

    

    
      	
              16.1

            	
              Establishment
      of the Trust.  In order to provide assets from which to
      fulfill its obligations to the Participants and their Beneficiaries under
      the Plan, the Company may establish a trust by a trust agreement with a
      third party, the trustee, to which each Employer may, in its discretion,
      contribute cash or other property, including securities issued by the
      Company, to provide for the benefit payments under the Plan (the
      “Trust”).  

            

    

    

    
      	
              16.2

            	
              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.

            

    

    

    
      	
              16.3

            	
              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
17

    Miscellaneous

    

    
      	
              17.1

            	
              Status
      of Plan.  The Plan is intended to be a plan that is not
      qualified within the meaning of Code Section 401(a) and that “is unfunded
      and is maintained by an employer primarily for the purpose of providing
      deferred compensation for a select group of management or highly
      compensated employees” within the meaning of ERISA Sections 201(2),
      301(a)(3) and 401(a)(1).  Except with respect to Account
      Balances not subject to Code Section 409A, the Plan shall be administered
      and interpreted (a) to the extent possible in a manner consistent with the
      intent described in the preceding sentence, and (b) in accordance with
      Code Section 409A and related Treasury guidance and
      Regulations.

            

    

    

    
      	
              17.2

            	
              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.

            

    

    

    
      	
              17.3

            	
              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.

            

    

    

    
      	
              17.4

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

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              17.5

            	
              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.

            

    

    

    
      	
              17.6

            	
              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.

            

    

    

    
      	
              17.7

            	
              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.

            

    

    

    
      	
              17.8

            	
              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.

            

    

    

    
      	
              17.9

            	
              Governing
      Law.  Subject to ERISA, the provisions of this Plan shall
      be construed and interpreted according to the internal laws of the State
      of Mississippi without regard to its conflicts of laws
      principles.

            

    

    

    
      	
              17.10

            	
              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:

            

    

    

    Trustmark
Corporation          

    Attn:  Controller
Department

    P. O. Box
291                          

    Jackson,
MS  39205               

    

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

    

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

    

    
      	
              17.11

            	
              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.

            

    

    

    
      	
              17.12

            	
              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.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              17.13

            	
              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.

            

    

    

    
      	
              17.14

            	
              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.

            

    

    

    
      	
              17.15

            	
              Domestic
      Relations Orders.  If necessary to comply with a domestic
      relations order, as defined in Code Section 414(p)(1)(B), pursuant to
      which a court has determined that a spouse or former spouse of a
      Participant has an interest in the Participant’s benefits under the Plan,
      the Committee shall have the right to immediately distribute the spouse’s
      or former spouse’s interest in the Participant’s benefits under the Plan
      to such spouse or former spouse. 

            

    

    

    
      	
              17.16

            	
              Distribution
      in the Event of Income Inclusion Under Code Section
      409A.  If any portion of a Participant’s Account Balance
      under this Plan is required to be included in income by the Participant
      prior to receipt due to a failure of this Plan to comply with the
      requirements of Code Section 409A and related Treasury Regulations, the
      Committee may determine that such Participant shall receive a distribution
      from the Plan in an amount equal to the lesser of (i) the portion of his
      or her Account Balance required to be included in income as a result of
      the failure of the Plan to comply with the requirements of Code Section
      409A and related Treasury Regulations, or (ii) the unpaid vested Account
      Balance.  

            

    

    

    
      	
              17.17

            	
              Deduction
      Limitation on Benefit Payments. If an Employer
      reasonably anticipates that the Employer’s deduction with respect to any
      distribution from this Plan would be limited or eliminated by application
      of Code Section 162(m), then to the extent permitted by Treas. Reg.
      §1.409A-2(b)(7)(i), payment shall be delayed as deemed necessary to ensure
      that the entire amount of any distribution from this Plan is
      deductible.  Any amounts for which distribution is delayed
      pursuant to this Section shall continue to be credited/debited with
      additional amounts in accordance with Section 3.5.  The delayed
      amounts (and any 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 date the Employer reasonably anticipates that the
      deduction of the payment of the amount will not be limited or eliminated
      by application of Code Section 162(m).  In the event that such
      date is determined to be after a Participant’s Separation from Service and
      the Participant to whom the payment relates is determined to be a
      Specified Employee, then to the extent deemed necessary to comply with
      Treas. Reg. §1.409A-3(i)(2), the delayed payment shall not made before the
      end of the six-month period following such Participant’s Separation from
      Service.

            

    

    

    
      	
              17.18

            	
              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 trustee
      of 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.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              17.19

            	
              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
___________________, 2007.

    

    
      	 
      	
              “Company”

            	 
      
	 
      	
              Trustmark
      Corporation, a Mississippi corporation

            	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	 
      	 
      
	 
      	
              Title:  

            	 
      	 
      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    APPENDIX
A

    

    Limited
Transition Relief for Distribution Elections Made Available in Accordance with
Notice 2006-79

    

    The
capitalized terms below shall have the same meaning as provided in Article 1 of
the Plan.

    

    Opportunity
to Make New (or Revise Existing) Distribution Elections.  Notwithstanding
the required deadline for the submission of an initial distribution election
under Articles 4, 5, 6, 7, 8 or 9 of the Plan, the Committee may, to the extent
permitted by Notice 2006-79, provide a limited period in which Participants may
make new distribution elections, or revise existing distribution elections, with
respect to amounts subject to the terms of the Plan, by submitting an Election
Form on or before the deadline established by the Committee, which in no event
shall be later than December 31, 2007.  Any distribution election(s)
made by a Participant, and accepted by the Committee, in accordance with this
Appendix A shall not be treated as a change in either the form or timing of a
Participant’s benefit payment for purposes of Code Section 409A or the
Plan.  If any distribution election submitted by a Participant in
accordance with this Appendix A either (a) relates to an amount that would
otherwise be paid to the Participant in 2007 or (b) would cause an amount to be
paid to the Participant in 2007, such election shall not be
effective.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    APPENDIX
B

    

    Continuing
Distribution Provisions from the 2002 Plan

    

    The
following provisions are excerpted from the 2002 Plan, shall be applied in
administering the portion of the Plan that is not subject to Code Section 409A
and shall apply to the exclusion of the other provisions of the Plan (that is,
other than those in this Appendix) which do not expressly provide for their
application to the 2002 Plan.

    

    To the
extent a Plan operational or administrative matter is not addressed in this
Appendix, the provisions of the Plan (other than those in this Appendix) shall
control where such application would not be considered to be a material
modification of the 2002 Plan which would cause
Account Balances which are not otherwise subject to Code Section 409A
thereunder to become subject to Code Section 409A.

    

    It is
noted that Section 4.3 of this Appendix is modified to eliminate the right of a
Participant to petition the Committee to suspend, and thereby effect a
suspension of, any deferrals required to be made by a Participant under a
distribution due to an Unforeseeable Financial Emergency, and Section 4.4 of
this Appendix is modified to revise the period a Participant's participation in
the Plan will be suspended in order to comply with Code Section 409A for
deferrals that are subject to Section 409A.  The definitions in the
following Article 1 below have been renumbered chronologically and other changes
have also been made to other excerpted provisions.

    

    

    

    ARTICLE
1

    Definitions

    

    For the
purposes of the 2002 Plan, unless otherwise clearly apparent from the context,
the following phrases or terms shall have the following indicated
meanings:

    

    
      	
              1.1

            	
              “Annual
      Deferral Amount” shall mean that portion of a Participant's Base Annual
      Salary, Annual Bonus and Directors Fees that a Participant defers in
      accordance with Article 3 for any one Plan Year.  In the event
      of a Participant's Retirement, Short-Term Disability (if deferrals cease
      in accordance with Section 8.1), Long-Term Disability, 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.

            

    

    

    
      	
              1.2

            	
              “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 or around 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 of which is the remaining number of annual payments due
      the Participant.  By way of example, if the Participant elects a
      10 year Annual Installment Method, the first payment shall is 1/10th 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
      60 days after the last business day of the applicable
      year.  Shares of Stock that shall be distributable from the
      Stock Option Gain Account shall be distributable in shares of actual Stock
      in the same manner previously described.  However, the Committee
      may, in its sole discretion, (i) adjust the annual installments in order
      to distribute whole shares of actual Stock and/or (ii) accelerate the
      distribution of such actual shares of Stock by payment of a lump
      sum.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              1.3

            	
              “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 3.5 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.

            

    

    

    
      	
              1.4

            	
              “Disability
      Benefit” shall mean the benefit set forth in Article
  8.

            

    

    

    
      	
              1.5

            	
              “Long-Term
      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, Long-Term Disability shall be determined by the
      Committee in its sole discretion.

            

    

    

    
      	
              1.6

            	
              “Pre-Retirement
      Survivor Benefit” shall mean the benefit set forth in Article
      6.

            

    

    

    
      	
              1.7

            	
              “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 Long-Term Disability on or after the earlier of
      the attainment of (a) age 65 or (b) age 50 with 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 attainment of
      age 65.

            

    

    

    
      	
              1.8

            	
              “Retirement
      Benefit” shall mean the benefit set forth in Article
  5.

            

    

    

    
      	
              1.9

            	
              “Short-Term
      Disability” shall mean a period of disability during which a Participant
      qualifies for short-term disability benefits under the Participant’s
      Employer’s short-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 short-term 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, Short-Term Disability shall be determined by the
      Committee in its sole discretion.

            

    

    

    
      	
              1.10

            	
              “Short-Term
      Payout” shall mean the payout set forth in Section
  4.1.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              1.11

            	
              “Termination
      Benefit” shall mean the benefit set forth in Article
  7.

            

    

    

    
      	
              1.12

            	
              “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, Long-Term 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.

            

    

    

    
      	
              1.13

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

            

    

    

    
      	
              1.14

            	
              “Years
      of Service” shall mean the total number of full years in which a
      Participant has been employed by one or more Employers.  For
      purposes of this definition, a year of employment shall be a 365 day
      period (or 366 day period in the case of a leap year) that, for the first
      year of employment, commences on the Employee's date of hiring and that,
      for any subsequent year, commences on an anniversary of that hiring
      date.  The Committee shall make a determination as to whether
      any partial year of employment shall be counted as a Year of
      Service.

            

    

    

    ARTICLE
2

    Selection, Enrollment,
Eligibility

    

    *  *  *  *  *

    

    
      	
              2.4

            	
              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 (for elections relating to period
      prior to January 1, 2005), (ii) prevent the Participant from making future
      deferral elections and/or (iii) immediately distribute the Participant's
      then vested Account Balance as a Termination Benefit and terminate the
      Participant's participation in the
Plan.

            

    

    

    *  *  *  *  *

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ARTICLE
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 all or a portion
      of 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 portion of the Annual Deferral Amount the Participant
      elected to have distributed as a Short-Term Payout plus amounts credited
      or debited in the manner provided in the Plan on that amount, determined
      at the time that the Short-Term Payout becomes payable.  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 60 day
      period commencing immediately after the first day of any Plan Year
      designated by the Participant.  The Plan Year designated by the
      Participant must be at least two Plan Years after the Plan Year in which
      the Annual Deferral Amount is actually deferred.  By way of
      example, if a two year Short-Term Payout is elected for Annual Deferral
      Amounts that are deferred in the Plan Year commencing January 1, 2002, the
      two year Short-Term Payout would become payable during a 60 day period
      commencing January 1, 2005.  With respect to each Short-Term
      Payout, the Participant may change his or her election one time only to an
      allowable alternative payout date by submitting a new Election Form to the
      Committee, provided that (i) any such Election Form is submitted at least
      13 months prior to the Participant's original distribution date, (ii) the
      new distribution date being selected is later than the original
      distribution date, and (iii) the Election Form is accepted by the
      Committee in its sole discretion.

            

    

    

    
      	
              4.2

            	
              Other
      Benefits Take Precedence Over Short-Term Payout.  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.

            

    

    

    
      	
              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 (provided, however, that this clause (i) shall not be
      applicable after December 31, 2004) 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, excluding the portion of the
      Account Balance attributable to the Stock Option Gain Account, 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
      60 days of the date of approval.  The payment of any amount
      under this Section 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, excluding the portion of the Account
      Balance attributable to the Stock Option Gain Account, 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, Long-Term
      Disability, Short-Term 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 60 days of his
      or her election.  Once the Withdrawal Amount is paid, the
      Participant's participation in the Plan shall be suspended from making
      deferral elections for the Plan Year immediately following the Plan Year
      the distribution is made and for the first portion of the next Plan Year
      after such full Plan Year of suspension equal to the remainder of the Plan
      Year following the date the distribution is made.  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 or pursuant
      to an Annual Installment Method for between 2 and 20 years.  At
      any time, either before a Participant has begun receiving Retirement
      Benefit payments or during the annual installment payment period, a
      Participant may elect to shorten or lengthen the Retirement Benefit
      payment period to any allowable alternative payout period by submitting a
      new Election Form to the Committee.  The Election Form must be
      accepted by the Committee in its sole discretion and shall be effective
      solely with respect to those payments that are due and payable at least 13
      months from the date the Election Form is tendered to the
      Committee.  An allowable alternative payout period shall include
      a lump sum payment or annual installment payments; provided, however, in
      no event shall a Participant be allowed to select an annual installment
      payment period that exceeds 20 years, reduced by the number of annual
      installment payments already received by the Participant.  Upon
      the Committee’s acceptance of the new Election Form, the Participant’s
      remaining unpaid vested Account Balance shall be annuitized over the newly
      selected payout period.  The Election Form most recently
      accepted by the Committee shall govern the payout of the Retirement
      Benefit.  If a Participant does not make any election with
      respect to the payment of the Retirement Benefit, then such benefit shall
      be payable in a lump sum.  The lump sum payment shall be made,
      or installment payments shall commence, no later than 60 days after the
      last day of the Plan Year in which the Participant Retires.  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. The lump sum payment shall be made, or
      installment payments shall commence, no later than 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.  Any
      payment made shall be subject to the Deduction
  Limitation.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    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 Long-Term
Disability.

            

    

    

    
      	
              6.2

            	
              Payment
      of Pre-Retirement Survivor Benefit.  If the Participant
      was eligible for Retirement at the time of his or her death, the
      Pre-Retirement Survivor Benefit shall be paid to the Participant’s
      Beneficiary (a) over the number of years and in the same amounts as the
      Retirement Benefit would have been paid to the Participant had the
      Participant survived and Retired, or (b) in a lump sum, if requested by
      the Beneficiary and allowed in the sole discretion of the
      Committee.  If the Participant was not eligible for Retirement
      at the time of his or her death and the Participant’s vested Account
      Balance at the time of his or her death is $100,000 or less, the
      Pre-Retirement Survivor Benefit shall be paid in a lump sum.  If
      the Participant was not eligible for Retirement at the time of his or her
      death and the Participant’s vested Account Balance at such time is greater
      than $100,000, the Pre-Retirement Survivor Benefit shall be paid to the
      Participant's Beneficiary in the form selected by the Committee, in its
      sole discretion, which may be either (a) a lump sum or (b) an Annual
      Installment Method of 3 years.  The lump sum payment shall be
      made, or installment payments shall commence, no later than 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.  Any payment made shall be subject to the Deduction
      Limitation.

            

    

    

    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
      Long-Term Disability.

            

    

    

    
      	
              7.2

            	
              Payment
      of Termination Benefit.  If the Participant’s vested
      Account Balance at the time of his or her Termination of Employment is
      $100,000 or less, payment of his or her Termination Benefit shall be paid
      in a lump sum.  If his or her vested Account Balance at such
      time is greater than $100,000, the Committee, in its sole discretion, may
      cause the Termination Benefit to be paid (a) in a lump sum, or (b)
      pursuant to an Annual Installment Method of 3 years.  The lump
      sum payment shall be made, or installment payments shall commence, no
      later than 60 days after the last day of the Plan Year in which the
      Participant experiences the Termination of Employment.  Any
      payment made shall be subject to the Deduction
  Limitation.

            

    

    

    
      	
              7.3

            	
              Death
      Prior to Completion of Termination Benefit.  If a
      Participant dies after Termination of Employment but before the
      Termination Benefit is paid in full, the Participant's unpaid Termination
      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. The
      lump sum payment shall be made, or installment payments shall commence, no
      later than 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.  Any payment made shall be subject to
      the Deduction Limitation.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ARTICLE
8

    Disability Waiver and
Benefit

    

    
      	
              8.1

            	
              Disability.

            

    

    

    
      	
               
      

            	
              (a)

            	
              Continued
      Deferral.  If a Participant is determined by the
      Committee to be both (i) suffering from a Short-Term Disability and (ii)
      receiving 100% of his or her Base Annual Salary during the period of such
      Short-Term Disability, then the Participant’s Annual Deferral Amount shall
      continue to be withheld during such period of Short-Term Disability in
      accordance with Section 3.2.

            

    

    

    
      	
               
      

            	
              (b)

            	
              Waiver
      of Deferral.  If a Participant is determined by the
      Committee to be both (i) suffering from a Short-Term Disability and, (ii)
      receiving less than 100% of his or her Base Annual Salary during the
      period of such Short-Term Disability, then such Participant shall be
      excused from (a) 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 Directors Fees for the Plan Year
      during which the Participant first suffers a Short-Term Disability and (b)
      fulfilling any existing unexercised Eligible Stock Option
      commitments.  During the period of Short-Term 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.

            

    

    

    
      	
               
      

            	
              (c)

            	
              Deferral
      Following Disability.  If a Participant (i) returns to
      employment with an Employer after a Short-Term Disability ceases, and (ii)
      payment of 100% of his or her Base Annual Salary recommences, the
      Participant may elect to defer an Annual Deferral Amount for the Plan Year
      in which both (i) and (ii) occur 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 3.2
    above.

            

    

    

    
      	
              8.2

            	
              Disability
      Benefit.  A Participant suffering a Long-Term Disability
      shall be deemed to have experienced a Termination of Employment, or in the
      case of a Participant who is eligible to Retire, to have Retired, on the
      date on which such Participant is determined by the Committee to be
      suffering a Long-Term Disability.  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.  If the Participant’s vested
      Account Balance at the time of the Committee’s determination is $100,000
      or less, payment of the Disability Benefit will be made in a lump
      sum.  If the Participant’s vested Account Balance at the time of
      the Committee’s determination is greater than $100,000, the Committee, in
      its sole discretion, may cause the Disability Benefit to be paid in a lump
      sum or pursuant to an Annual Installment Method of 3 years.  The
      lump sum payment shall be made, or installment payments shall commence,
      within 60 days after the last day of the Plan Year in which the Committee
      determines that the Participant has suffered a Long-Term
      Disability.  Any payment made shall be subject to the Deduction
      Limitation.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              8.3

            	
              Death
      Prior to Completion of Disability Benefit.  If a
      Participant dies after his or her Long-Term Disability but before the
      Disability Benefit is paid in full, the Participant's unpaid Disability
      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. The
      lump sum payment shall be made, or installment payments shall commence, no
      later than 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.  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, determined (i) as if they had experienced a Termination
      of Employment on the date of Plan termination; or (ii) if Plan termination
      occurs after the date upon which a Participant was eligible to Retire,
      then with respect to that Participant as if he or she had Retired on the
      date of Plan termination.  Such benefits shall be paid to the
      Participants as follows: (i) prior to a Change in Control, if the Plan is
      terminated with respect to all of its Participants, an Employer shall have
      the right, in its sole discretion, and notwithstanding any elections made
      by the Participant, to pay such benefits in a lump sum or pursuant to an
      Annual Installment Method of up to 5 years, with amounts credited and
      debited during the installment period as provided herein; or (ii) prior to
      a Change in Control, if the Plan is terminated with respect to less than
      all of its Participants, an Employer shall be required to pay such
      benefits in a lump sum; or (iii) after a Change in Control, if the Plan is
      terminated with respect to some or all of its Participants, the Employer
      shall be required to pay such benefits in a lump sum within 60 days of
      termination of the Plan.  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.  Any
      Employer may, at any time, amend or modify the Plan in whole or in part
      with respect to that Employer by the action of its board of directors;
      provided, however, that: (i) no amendment or modification shall be
      effective to decrease or restrict the value of a Participant's vested
      Account Balance in existence at the time the amendment or modification is
      made, calculated as if the Participant had experienced a Termination of
      Employment as of the effective date of the amendment or modification or,
      if the amendment or modification occurs after the date upon which the
      Participant was eligible to Retire, the Participant had Retired as of the
      effective date of the amendment or modification, and (ii) no amendment or
      modification of this Section 12.2 or Section 13.2 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 Employer shall have the right to
      accelerate installment payments by paying the vested Account Balance in a
      lump sum or pursuant to an Annual Installment Method using fewer years
      (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 12.1 and
      12.2 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.

            

    

    

    
      	
              11.4

            	
              Effect
      of Payment.  The full payment of the Participant’s vested
      Account Balance in accordance with the applicable provisions 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
16

    Miscellaneous

    

    *  *  *  *  *

    

    
      	
              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 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.

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