Document:

EXHIBIT 10.32

 Exhibit 10.32 
 FEDERAL REALTY INVESTMENT TRUST 
 COMBINED INCENTIVE AND NON-QUALIFIED 
 STOCK OPTION AGREEMENT 
 (Award
under the Federal Realty Investment Trust 
 Amended and Restated 2003 Long Term Incentive Award Program) 
                     , 200  

 The parties to this Combined Incentive and Non-Qualified Stock Option Agreement (this “Agreement”) are Federal Realty
Investment Trust, a Maryland real estate investment trust (the “Trust”), and                     , an individual employee
of the Trust (the “Key Employee”). 
 The Board of Trustees of the Trust (the “Board of Trustees”) has authorized the
award by the Trust to the Key Employee, under the Trust’s 2001 Long-Term Incentive Plan (the “Plan”): (a) options that qualify as “Incentive Stock Options” within the meaning of Section 422 or any successor
provision of the Internal Revenue Code of 1986, as amended (“Code”), and/or (b) options not intended to qualify as Incentive Stock Options (“Non-Qualified Stock Options”), subject to certain restrictions and covenants on the
part of Key Employee as set forth herein. The parties hereto desire to set forth in this Agreement their respective rights and obligations with respect to such Incentive Stock Options and Non-Qualified Stock Options. 
 Capitalized terms used in this Agreement, unless otherwise defined herein, have the respective meanings given to such terms in the Plan. 
 In consideration of the covenants set forth in this Agreement, and intending to be legally bound hereby, the parties hereto agree as follows: 

1. Award of Options. 
 (a) Number of Shares and Price. The Trust hereby grants to the Key Employee an option (“Option”) to purchase the number of Shares set forth on the last page of this Agreement. The exercise
price per Share of the Option shall be as is set forth on the last page of this Agreement, such price being the Fair Market Value per Share on the Grant Date of the Option. The portion of the Option indicated on the last page of this Agreement as an
Incentive Stock Option is intended to be an Incentive Stock Option; provided, however, that to the extent, but only to the extent, that the provisions of this Agreement or the nature of any actions taken by the Key Employee are
inconsistent with the treatment of such portion of the Option as an Incentive Stock Option, such portion of the Option shall be deemed a Non-Qualified Stock Option. The other portion of the Option indicated on the last page of this Agreement is a
Non-Qualified Stock Option. 
 (b) Term and Exercise. The Option shall expire ten (10) years from the Grant
Date, subject to earlier termination as set forth in Section 3. Subject to the provisions of Sections 2 and 3, the Option shall become exercisable in installments as set forth on the last page of this Agreement.

 2. Exercise of Option Upon Termination of Service. 
 (a) Retirement. Upon the Key Employee’s termination of Service by reason of retirement and notwithstanding anything to
the contrary set forth in this Agreement, some or all of the Options shall become immediately exercisable as follows: (i) 50% of the then unexercisable Options shall become immediately exercisable in the event of the Key Employee’s
retirement on or after the Key Employee reaches the age of 58 (“Permitted Retirement Date”) but before the Key Employee reaches the age of 62; (ii) 75% of the then unexercisable Options shall become immediately exercisable in the
event of the Key Employee’s retirement on or after the Key Employee reaches the age of 62 but before the Key Employee reaches the age of 65; and (iii) all of the then unexercisable Options shall become immediately exercisable in the event
of the Key Employee’s retirement on or after the Key Employee reaches the age of 65. The Key 

 
Employee shall have a period of two years after such termination of Service by reason of retirement to exercise all or a part of the Option to the extent
that it was exercisable upon or as a result of such termination of Service as aforesaid. In no event, however, may the Option be exercised later than the expiration date described in Section 1(b). 
 (b) Death. In the event of the death of the Key Employee while employed by the Trust, all Options shall become immediately
exercisable notwithstanding anything to the contrary set forth in this Agreement, and the Key Employee’s beneficiary shall have a period of two years after the Key Employee’s death to exercise all or a part of the Option to the extent that
it was exercisable upon or as a result of the Key Employee’s death as aforesaid. In no event, however, may the Option be exercised later than the expiration date described in Section 1(b). Notwithstanding the foregoing, the
provisions of this Section 2(b) shall not extend any of the times periods for a Key Employee to exercise all or part of the Option which have been established by any of Sections 2(a), (c), (d), (e), (f) or (g).

 (c) Disability. Upon the Key Employee’s termination of Service by reason of Disability, all Options
shall become immediately exercisable notwithstanding anything to the contrary set forth in this Agreement, and the Key Employee shall have a period of two years after such termination of Service to exercise all or a part of the Option to the extent
that it was exercisable upon or became exercisable as a result of such termination of Service by reason of Disability. In no event, however, may the Option be exercised later than the expiration date described in Section 1(b).

 (d) Termination without Cause. Upon the Key Employee’s termination of Service without Cause, all Options
shall become immediately exercisable notwithstanding anything to the contrary set forth in this Agreement, and the Key Employee shall have a period of [three months] [one year in the case of Form 4 reporting officers] after such termination
of Service to exercise all or any part of the Option to the extent that it was exercisable upon or became exercisable as a result of such termination of Service. In no event may the Option be exercised later than the expiration date described in
Section 1(b). 
 (e) Termination for Cause. Upon the Key Employee’s termination of Service for
Cause, the Key Employee’s right to exercise all of any part of the Option, to the extent it was exercisable at the date of termination of Service, shall terminate at the date of termination of Service. In no event may the Option be exercised
later than the expiration date described in Section 1(b). 
 (f) Change in Control. If the Key
Employee incurs an Involuntary Termination within the one year period commencing with a Change in Control, the Option, to the extent it is outstanding and unexercised on the date of such Involuntary Termination, shall become immediately and fully
exercisable for a period of [three months] [one year in the case of Form 4 reporting officers] from the date of such termination of Service. In no event, however, may the Option be exercised later than the expiration date described in
Section 1(b). The provisions of this Section 3(f) shall not be applicable to the Option if such Change in Control results from the Key Employee’s beneficial ownership (within the meaning of Rule 13d-3 under the Exchange
Act) of Shares or Trust Voting Securities. 
 (g) Any other Termination of Service. Upon the Key Employee’s
termination of Service for any reason other than as set forth in Sections 2(a) through (f), the Key Employee shall have a period of [three months] [one year in the case of Form 4 reporting officers] from the date of such
termination of Service to exercise all or any part of the Option to the extent it was exercisable at the date of termination of Service. In no event may the Option be exercised later than the expiration date described in Section 1(b).

 3. Forfeiture. To the extent all or any part of the Option was not exercisable as of the date of termination of Service or
did not become exercisable as a result of the termination of Service as provided in Section 2, the unexercisable portion of the Option shall expire at the date of such termination of Service. 
 4. Exercise Procedures. 
 (a) Method of Exercise. The Option shall be exercisable by written notice to the Trust, which must be received by the Secretary of the Trust not later than 5:00 P.M. local time at the principal executive
office of 

  

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the Trust on the expiration date of the Option. Such written notice shall set forth: (i) the number of Shares being purchased and whether those Shares
are issuable as a result of the exercise of the Incentive Stock Option portion of the Option or the Non-Qualified Stock Option portion of the Option; (ii) the total exercise price for the Shares being purchased; (iii) the exact name as it
should appear on the stock certificate(s) to be issued for the Shares being purchased; and (iv) the address to which the stock certificate(s) should be sent. 
 (b) Payment of Exercise Price. The exercise price of Shares purchased upon exercise of the Option shall be paid in full:
(i) in cash; (ii) by delivery to the Trust of Shares which if acquired from the Trust shall have been held by the Key Employee for at least six (6) months; (iii) in any combination of cash and Shares; or (iv) by delivery of
such other consideration as the Committee deems appropriate and in compliance with applicable law (including payment in accordance with a cashless exercise program under which, if so instructed by the Key Employee, Shares may be issued directly to
the Key Employee’s broker or dealer against receipt of the exercise price in cash from the broker or dealer). 
 In the
event that any Shares shall be transferred to the Trust to satisfy all or any part of the exercise price, the part of the exercise price deemed to have been satisfied by such transfer of Shares shall be equal to the product derived by multiplying
the Fair Market Value as of the date of exercise times the number of Shares transferred to the Trust. The Key Employee may not transfer to the Trust in satisfaction of the exercise price any fraction of a Share, and any portion of the exercise price
that would represent less than a full Share must be paid in cash by the Key Employee. If payment in full or part is to be made in the form of Restricted Shares, an equivalent number of Shares issued on exercise of the Option shall be subject to the
same restrictions and conditions for the remainder of the Award Period applicable to the Restricted Shares surrendered therefor. 
 (c) Delivery of Certificate. Subject to Section 8 hereof, certificates for the purchased Shares will be issued and delivered to the Key Employee as soon as practicable after the receipt of payment of the exercise
price in accordance with Section 4(b) above; provided, however, that delivery of any such Shares shall be deemed effected for all purposes when a stock transfer agent of the Trust shall have deposited such certificates in
the United States mail, addressed to Key Employee, at the address set forth on the last page of this Agreement or to such other address as Key Employee may from time to time designate in a written notice to the Trust. The Key Employee shall not be
deemed for any purpose to be a shareholder of the Trust in respect of any Shares as to which the Option shall not have been exercised, as herein provided, until such Shares have been issued to Key Employee by the Trust hereunder. 
 5. Plan Provisions Control Option Terms; Modifications. The Option is granted pursuant and subject to the terms and conditions of the Plan,
the provisions of which are incorporated herein by reference. In the event any provision of this Agreement shall conflict with any of the terms in the Plan as constituted on the Grant Date, the terms of the Plan as constituted on the Grant Date
shall control. The Option shall not be modified after the Grant Date except by express written agreement between the Trust and the Key Employee; provided, however, that any such modification: (a) shall not be inconsistent with the
terms of the Plan; and (b) shall be approved by the Committee. 
 6. Limitations on Transfer. Except as provided in this
Section 6, the Option may not be assigned or transferred other than by will or the laws of descent and distribution. The Key Employee may transfer, in a not for value transfer, all or part of this Option that is a Non-Qualified Stock
Option to any Family Member (as defined in the Plan). For the purpose of this Section 6, a “not for value” transfer is a transfer which is: (a) a gift; (b) a transfer under a domestic relations order in settlement of
marital property rights; or (c) a transfer to an entity in which more than fifty percent of the voting interests are owned by Family Members (or the Key Employee) in exchange for an interest in that entity. Following a transfer under this
Section 6, the Option shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer. Subsequent transfers of transferred Options are prohibited except to Family Members of the original Key
Employee in accordance with this Section 6 or by will or the laws of descent and distribution. The Key Employee’s beneficiary may exercise the Key Employee’s rights hereunder only to the extent they were exercisable under this
Agreement at the date of the death of the Key Employee and are otherwise currently exercisable. 
  

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 7. Taxes. The Trust shall be entitled to withhold (or secure payment from the Key Employee
in lieu of withholding) the amount of any withholding or other tax required by law to be withheld or paid by the Trust with respect to any Shares issuable under this Agreement, or upon a disqualifying disposition of Shares received pursuant to the
exercise of the portion of the Option that is an Incentive Stock Option, and the Trust may defer issuance of Shares upon the exercise of the Option unless the Trust is indemnified to its satisfaction against any liability for any such tax. The
amount of such withholding or tax payment shall be determined by the Committee or its delegate and shall be payable by the Key Employee at such time as the Committee determines. The Key Employee may satisfy his or her tax withholding obligation by
the payment of cash to the Trust and/or by the withholding from the Option, at the appropriate time, of a number of Shares sufficient, based upon the Fair Market Value of such Shares, to satisfy such tax withholding requirements. The Committee shall
be authorized, in its sole discretion, to establish such rules and procedures relating to any such withholding methods as it deems necessary or appropriate, including, without limitation, rules and procedures relating to elections to have Shares
withheld upon exercise of the Option to meet such withholding obligations. 
 8. No Exercise in Violation of Law.
Notwithstanding any of the provisions of this Agreement, the Key Employee hereby agrees that he or she will not exercise the Option granted hereby, and that the Trust will not be obligated to issue any Shares to the Key Employee hereunder, if
the exercise thereof or the issuance of such Shares shall constitute a violation by the Key Employee or the Trust of any provision of any law or regulation of any governmental authority. Any determination in this connection by the Committee shall be
final, binding and conclusive. 
 IN WITNESS WHEREOF, the Trust has caused this Agreement to be duly executed and the Key Employee has
hereunto set his hand effective as of the day and year first above written. 
  

									
		 		 	FEDERAL REALTY INVESTMENT TRUST
					
		 		 		 	 By:
	 	  
		 		 		 	 Name:  
	 	
		 		 		 	 Title:
	 	 Chair, Compensation Committee

			
	WITNESS:	 		 	KEY EMPLOYEE
			
	  	 		 	  

  

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 GRANT DATE 
                    , 200   
  

			
	NUMBER OF SHARES SUBJECT TO THE OPTION:	  	_______ SHARES
	 Incentive Stock Option
	  	______ Shares
	 Non-Qualified Stock Option
	  	______ Shares
		
	EXERCISE PRICE PER SHARE	  	$_______            

 INSTALLMENT EXERCISE SCHEDULE 
  

					
	 	  	Cumulative Number of
Shares in
Respect of
which Option is
Exercisable
	 Anniversary of Grant Date
	  	Incentive	  	Non-Qualified
	 Prior to 1st
	  		  	
	 On and After 1st-Prior to 2nd
	  		  	
	 On and After 2nd-Prior to 3rd
	  		  	
	 On and After 3rd-Prior to 4th
	  		  	
	 On and After 4th-Prior to 5th
	  		  	
	 On and After 5th
	  		  	

 NOTICE ADDRESSES: 
  

			
	IF TO THE TRUST:	  	IF TO THE KEY EMPLOYEE:
		
	 Federal Realty Investment Trust
	  	
	 1626 East Jefferson Street
	  	
	 Rockville, Maryland 20852-4041
	  	
	 Attention: Secretary
	  	

  

 5EXHIBIT 10.13

 Exhibit 10.13 
 GENERAL DYNAMICS CORPORATION 
 SUPPLEMENTAL SAVINGS AND 
 STOCK INVESTMENT PLAN 
 Amended and
restated on December 24, 2005 

 GENERAL DYNAMICS CORPORATION 
 SUPPLEMENTAL SAVINGS AND 
 STOCK INVESTMENT PLAN 
 Table of Contents 
  

					
	 SECTION 1
	  	Introduction and Plan History	 	1
			
	 SECTION 2
	  	Definitions	 	1
			
	 SECTION 3
	  	Supplemental Benefits Due to Limitations Under the Qualified SSIP	 	3
			
	 SECTION 4
	  	Credited Earnings	 	5
			
	 SECTION 5
	  	Payment, Nonforfeitability of Benefits and Maintenance of Accounts	 	6
			
	 SECTION 6
	  	Special Supplemental Benefits	 	7
			
	 SECTION 7
	  	Miscellaneous Provisions	 	8
			
	 SECTION 8
	  	Amendment and Termination of the Plan	 	9
			
	 SECTION 9
	  	American Jobs Creation Act Compliance	 	10

 SECTION 1 INTRODUCTION AND PLAN HISTORY 
 1.1 Introduction. This Plan is maintained so as to strengthen the ability of the Company and its Subsidiaries to attract and retain persons of outstanding competence upon which, in large measure, continued
growth and profitability depend. The Plan is intended to supplement Qualified Salary Deferrals and Qualified Matching Contributions. The Plan is intended to be an unfunded deferred compensation plan for a select group of management or highly
compensated employees within the meanings of Sections 201(2), 301(a)(3) and 401(a)(4) of ERISA and shall be construed and interpreted accordingly. 
 1.2
Effective Date. This Plan was established effective January 1, 1983, and previously amended and restated as of January 1, 1987, January 1, 1998, and August 1, 2003. The Plan was further amended as of March 1,
2005. The Plan is amended and restated on December 24, 2005, and such amendment and restatement of the Plan is effective as of January 1, 2005, except as otherwise specifically provided herein. 
 1.3 Plan Appendices. From time to time, the Company may adopt Appendices to the Plan for the purpose of setting forth specific provisions or providing
documentation necessary to determine benefits under the Plan for certain Employee groups. Each such Appendix shall be attached to and form a part of the Plan. Each such Appendix shall specify the population to which it applies and shall supersede
the provisions of the Plan document to the extent necessary to eliminate any inconsistencies between the Plan document and such Appendix. 
 1.4
Applicability of Plan Provisions. The provisions of this Plan shall apply to any person who is a Participant on or after January 1, 2005, and to any Account in existence on or after January 1, 2005. Pre-2005 Accounts are considered
to be “grandfathered” under Section 409A and, except as otherwise specifically provided under this Plan by reference to Pre-2005 Accounts, the benefits and rights existing as of October 3, 2004, under the prior version of the
Plan applicable to any Pre-2005 Account shall continue to apply. For purposes of clarity, except as otherwise specifically provided by this Plan by reference to Pre-2005 Accounts, to the extent that benefits or rights of Pre-2005 Accounts are
governed by reference to corresponding Qualified SSIP provisions, the Qualified SSIP provisions in effect as of October 3, 2004, shall apply. 
 SECTION 2 DEFINITIONS 
 Where the following words and phrases appear in the Plan, they shall have the respective meanings set forth below, unless
the context clearly indicates to the contrary. Some of the words and phrases used in the Plan are not defined in this Section 2, but, for convenience, are defined as they are introduced into the text. 
 2.1 Account shall mean the recordkeeping account to which Salary Deferrals, Matching Contributions and Credited Earnings are credited (or debited for Credited
Earnings reflecting an investment loss) under the Plan. An Account may be divided into two or more subaccounts to the extent necessary or desirable, as determined by the Company, for Plan recordkeeping and accounting purposes. Such subaccounts are
referred to herein collectively as the “Account” or “Accounts,” and sometimes individually as the “Account.” 
  

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 2.2 Accounting Date shall mean each day on which the U.S. financial markets are open for business. 
 2.3 Beneficiary shall mean the Participant’s beneficiary, who shall be determined by the following order: (1) the Participant’s designated
beneficiary under the Qualified SSIP, (2) the Participant’s spouse, and (3) the Participant’s estate. 
 2.4 Change of Control
shall mean a “Change of Control” as that term is defined in the Company’s Equity Compensation Plan, as amended from time to time. 
 2.5
Code shall mean the Internal Revenue Code of 1986, as amended from time to time. 
 2.6 Company shall mean General Dynamics Corporation, a
Delaware corporation, and any successor thereof. 
 2.7 Credited Earnings shall have the meaning set forth in Section 4.1. 
 2.8 Eligible Employee shall mean an Employee who satisfies the eligibility criteria described at Section 3.1. 
 2.9 Employee shall mean any person who is regularly employed as a full-time, salaried employee by the Company or its Subsidiaries, and who is not covered by a
collective bargaining agreement (except where such collective bargaining agreement specifically provides for participation). Individuals not initially treated and classified by the Company as common-law employees, including, but not limited to,
leased employees, independent contractors or any other contract employees, shall be excluded from participation irrespective of whether a court, administrative agency or other entity determines that such individuals are common-law employees.

 2.10 ERISA shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time. 
 2.11 Key Employee shall mean a “key employee” as that term is used under Section 409A. 
 2.12 Matching Contributions shall mean amounts credited to a Participant’s Account with reference to the Participant’s Salary Deferrals pursuant to
Section 3.4. 
 2.13 Participant shall mean any current or former Employee who has an Account that has not been fully paid or otherwise
discharged. 
 2.14 Plan shall mean the General Dynamics Corporation Supplemental Savings and Stock Investment Plan, established January 1, 1983,
and amended and restated as set forth herein, as it may be amended from time to time, and its Appendices. 
 2.15 Plan Year shall mean the 12 month
period beginning on January 1st and ending on the following December 31st. 
  

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 2.16 Post-2004 Account shall mean a Participant’s subaccount to which Salary Deferrals and Matching
Contributions are credited if not earned and vested by December 31, 2004, and any Credited Earnings with respect to such amounts. 
 2.17 Pre-2005
Account shall mean a Participant’s subaccount to which Salary Deferrals and Matching Contributions are credited to the extent they were earned and vested on or before December 31, 2004, and any Credited Earnings with respect to such
amounts. 
 2.18 Qualified Matching Contributions shall mean amounts contributed to the Qualified SSIP by the Company or its Subsidiaries which are
determined with reference to amounts of Qualified Salary Deferrals. 
 2.19 Qualified Plan Limitations shall mean limitations imposed
(i) pursuant to Code Sections 401(a)(17), 402(g), 415 or any other section of the Code or (ii) by the Company in order to assure compliance with the actual deferral percentage or actual contribution percentage requirements of the Qualified
SSIP. 
 2.20 Qualified Salary Deferrals shall mean pre-tax salary deferrals made by an Employee pursuant to the Qualified SSIP. 
 2.21 Qualified SSIP shall mean the General Dynamics Corporation Savings and Stock Investment Plan, as it may be amended from time to time. 
 2.22 Salary shall mean an Employee’s “Deferral Pay,” as that term is used in the Qualified SSIP, without taking into account the limitation on
annual compensation under Code Section 401(a)(17) or any successor provision thereto, or any incentive plan payments, bonuses or commissions. 
 2.23
Salary Deferrals shall mean amounts credited to a Participant’s Account corresponding to Salary reductions elected pursuant to Section 3.2. 
 2.24 Section 409A shall mean Section 409A of the Code, including, without limitation, applicable transition guidance provided by the Internal Revenue Service. 
 2.25 Separation from Service shall mean a “separation from service” as that term is defined in Section 409A. 
 2.26 Subsidiary shall mean any corporation of which the Company owns, directly or indirectly, fifty percent (50%) or more of the outstanding voting stock. 
 SECTION 3 SUPPLEMENTAL BENEFITS DUE TO LIMITATIONS 
 UNDER THE QUALIFIED SSIP 

3.1 Eligibility. 
 (a) Unless otherwise directed by
the Chairman of the Board of Directors of the Company (the “Chairman”), eligibility for participation in any benefits provided under this Section 3 for a given Plan Year shall be extended to selected Employees (i) who are
eligible to 
  

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 participate in the Qualified SSIP, (ii) whose Qualified Salary Deferrals to the Qualified SSIP are restricted due to
any of the Qualified Plan Limitations, and (iii) whose Salary in effect on November 1 of the year immediately preceding the given Plan Year (or such other date prescribed by the Company from time to time) equals or exceeds the annual
compensation limitation of Code Section 401(a)(17) for the Plan Year. 
 (b) The selection of eligible Employees who may participate in
the Plan shall be in the sole discretion of the Company, and participation may be limited to such otherwise eligible Employees as the Company shall determine by the application of minimum compensation levels or otherwise. All determinations shall be
made prior to the given Plan Year and may be made as of a given date at the sole discretion of the Company. 
 (c) Notwithstanding anything
to the contrary, to the extent that an Employee meets the requirements of this Section 3.1 during a Plan Year, such Employee shall not become an Eligible Employee during that Plan Year except as directed by the Chairman. 
 3.2 Salary Deferral Elections. Salary Deferrals shall be credited to an Eligible Employee’s Post-2004 Account in accordance with such Eligible
Employee’s election and subject to the following rules: 
 (a) An Eligible Employee may elect to defer up to the maximum amount described
in Section 3.3. 
 (b) An Eligible Employee’s Salary Deferral election under this Plan shall be irrevocable for the 2005 Plan Year
after March 15, 2005. 
 (c) For Plan Years commencing after 2005, an Eligible Employee may make an irrevocable Salary Deferral election
at the time and in the form prescribed by the Company, but in no event later than December 31 of the year preceding a given Plan Year. 
 (d) For purposes of clarity, and without limitation, the Company may prescribe a “negative” election for Salary Deferrals, meaning that it may impose an automatic or default Salary Deferral election, provided the Eligible Employee
has an opportunity during the election period to affirmatively change such election. 
 (e) Notwithstanding the preceding requirements, in
the event an Employee becomes eligible to participate during the Plan Year in accordance with Section 3.1(c) above, such Eligible Employee may make an irrevocable Salary Deferral election within 30 days from the date of eligibility with respect
to any Salary earned after such election. For purposes of clarity, and without limitation, the Company may prescribe a “negative” election for Salary Deferrals, meaning that it may impose an automatic Salary Deferral election, provided the
Eligible Employee has an opportunity during the election period to affirmatively change such election. 
 3.3 Maximum Amount of Salary Deferrals. The
maximum amount of Salary Deferrals that an Eligible Employee may elect for a given Plan Year is equal to (X times Y) minus Z, where: 
 X is
the Eligible Employee’s annual Salary in effect as of the November 1st of the year immediately preceding the Plan Year (or such other date prescribed by the Company from time to time). 
  

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 Y is the Eligible Employee’s percentage deferral limit under the Qualified SSIP (using the limit
applicable to the business unit at which the Eligible Employee is assigned as of the December 15th of the year immediately preceding the Plan Year, or such other date prescribed by the Company from time to time). 
 Z is the Code Section 402(g) limit for such Plan Year. 
 3.4 Matching Contributions. An Eligible Employee may be eligible for a Matching Contribution under this Plan, which shall be credited to an Eligible Employee’s Post-2004 Account, based on his or her Salary Deferrals under this
Plan. Eligibility for, and the amount of any Matching Contribution under this Plan, shall be determined by the Qualified Matching Contribution provisions in the Qualified SSIP that are applicable to the business unit to which the Eligible Employee
is assigned as of the end of the Salary Deferral election period prescribed by the Company for a given Plan Year. 
 3.5 Transfer. For purposes of
clarity, should an Eligible Employee transfer business units during a Plan Year, such Eligible Employee’s Salary Deferrals and Matching Contributions, if any, shall not change during that Plan Year to account for different deferral or matching
provisions under the Qualified SSIP applicable to the Eligible Employee’s new business unit. 
 SECTION 4 CREDITED EARNINGS 

4.1 Initial Credited Earnings. Effective for the Plan Years commencing on and after January 1, 2006, Salary Deferrals and Matching Contributions credited
to the Participant’s Post-2004 Account shall be deemed invested in the same investment funds that the Participant’s Qualified Salary Deferrals are invested in as of the December 15th of the preceding Plan Year (or such other date as
determined from time to time by the Company) under the Qualified SSIP. For 2005, Credited Earnings shall be determined under the prior provisions of the Plan. 
 4.2 Account Adjustments. Each Account shall be adjusted to reflect investment gain or loss on any balance in the Account as of the close of the immediately preceding Accounting Date. The adjustment shall be the same as what would
actually have been recognized if the Account had been invested in the Qualified SSIP under the investment options actually selected by the Participant thereunder (or, with respect to initial Salary Deferrals, as determined by Section 4.1).

 4.3 Investment Fund Transfers. If a Participant makes an investment fund transfer pursuant to the provisions of the Qualified SSIP, the identical
investment fund transfer shall be performed in this Plan, but no such transfer shall be permitted in this Plan unless made in the Qualified SSIP. Notwithstanding the foregoing, the Company may, in its discretion, approve transfers in this Plan where
no transfer is possible in the Qualified SSIP due to loans and withdrawals. 
 4.4 Coordination with Qualified SSIP. The Company may adopt such rules,
in its sole discretion, to coordinate the crediting of earnings under the Plan with the investment of funds under the Qualified SSIP. 
  

 5 

 SECTION 5 PAYMENT, NONFORFEITABILITY OF BENEFITS 
 AND MAINTENANCE OF ACCOUNTS 
 5.1 Pre-2005 Accounts: Payment and Nonforfeitability of Benefits and
Maintenance of Accounts. This Section 5.1 shall be effective as of January 1, 2005, and shall only apply to Pre-2005 Accounts. Except as otherwise provided in this Plan, a Participant’s Pre-2005 Account, if any, shall be paid
under the same conditions, rules and restrictions as would apply to the benefits as if they were provided under the Qualified SSIP. The following rules shall apply to such Pre-2005 Accounts, notwithstanding the conditions, rules and restrictions of
the Qualified SSIP: 
 (a) Participants shall not be entitled to receive distributions or loans or to make withdrawals of any portion of their
Pre-2005 Account balances while employed by the Company or any of its Subsidiaries. 
 (b) Upon termination of employment with the Company
and its Subsidiaries, the entire balance of a Participant’s Pre-2005 Account (valued as of the Accounting Date coincident with or immediately preceding the date of payment) shall be paid to the Participant as soon as administratively
practicable. However, any Participant may, by a written statement (including internet and telephone methods approved by the Company for this purpose) filed with the Company or its delegated agent on or before one year prior to the termination of
employment, irrevocably elect to defer commencement of such payments until a specific date which may be as late as the Participant attaining age 70 1/2. If a deferral is elected, the Participant may choose to have his or her Pre-2005 Account balance subsequently paid in a lump sum or in such number of equal annual installments (not to exceed 15) as
he or she may request (which will commence as soon as practicable after the conclusion of the deferral period and will be payable annually thereafter). To the extent consistent with the above requirements, deferrals and installment payments of
distributions shall be governed by the applicable provisions of the Qualified SSIP. 
 (c) All Pre-2005 Account balances shall be paid
in cash. No Participant shall have any right to receive payment in any other form. 
 (d) Upon the death of a Participant prior to the entire
balance of the Participant’s Pre-2005 Account having been paid, the remaining unpaid balance shall be payable to the Beneficiary. 
 (e)
In the event that a Subsidiary ceases to meet the definition of Subsidiary (e.g., on account of a sale of its stock to an unrelated third party), or an unincorporated business unit ceases to be owned by the Company or a Subsidiary, such cessation
shall not, by itself, be treated as a termination of employment by the Participants employed by such Subsidiary or business unit unless the Company shall so determine. In those circumstances, the Company may also determine whether the Pre-2005
Accounts of the Participants employed by such Subsidiary or business unit will be vested or distributed. 
 (f) The Company shall promulgate
such other additional rules and procedures governing the operation of this Plan in relation to such Pre-2005 Accounts as it may, from time to time and in its sole discretion, determine are necessary or desirable. 
  

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 (g) Pursuant to transition guidance under Section 409A, Participants in the Plan (i) who are
former Employees (as of November 30, 2005) and (ii) whose Pre-2005 Account is worth less than $100,000 (as of November 30, 2005), shall be terminated from participation in the Plan and such Participants shall be paid their respective
Accounts in a single lump sum payment on or before December 31, 2005. 
 5.2 Post-2004 Accounts: Payment and Nonforfeitability of Benefits and
Maintenance of Accounts. This Section 5.2 shall be effective as of January 1, 2005, and shall apply to Post-2004 Accounts. 
 (a) Upon a Separation from Service from the Company and its Subsidiaries, the entire balance of a Participant’s Post-2004 Account (valued as of the Accounting Date coincident with or immediately preceding the date of payment) shall be
paid to the Participant as soon as administratively practicable provided that any Key Employee shall not receive a payment earlier than 6 months following his or her Separation from Service. 
 (b) All Post-2004 Account balances shall be paid in cash. No Participant shall have any right to receive payment in any other form. 
 (c) In the event that a Subsidiary ceases to meet the definition of Subsidiary (e.g., on account of a sale of its stock to an unrelated third party), or
an unincorporated business unit ceases to be owned by the Company or a Subsidiary, the Company, in its sole discretion, may fully vest the Post-2004 Account balances of Participants employed by such Subsidiary or business unit and the Post-2004
Account shall be paid in accordance with Section 5.2(a). 
 (d) The Company shall promulgate such other additional rules and procedures
governing the operation of this Plan in relation to such Post-2004 Accounts as it may, from time to time and in its sole discretion, determine are necessary or desirable. 
 (e) Upon the death of a Participant prior to the entire balance of the Participant’s Post-2004 Account having been paid, the remaining unpaid balance shall be payable to the Beneficiary. 
 (f) Notwithstanding anything to the contrary contained in this Section 5.2, payment to a Participant shall be delayed should the Company reasonably
anticipate that the making of such payment would violate federal securities laws or other applicable law. In such an event, payment shall be made at the earliest date at which the Company reasonably anticipates that the making of the payment would
not cause such violation. 
 SECTION 6 SPECIAL SUPPLEMENTAL BENEFITS 
 6.1 Participation. Recognizing the need to make special retirement and other compensation or employee benefit provisions for certain Employees, the Company may, from time to time and in its best judgment,
designate such other individual Employees or groups of select management or highly compensated Employees as being eligible to receive benefits under this Plan. Any such Employees or groups of Employees, and the benefits applicable to them, will be
described in the Appendices attached to this Plan. 
  

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 6.2 Benefits. Such supplemental benefits may be provided in such amounts as the Company determines are
appropriate. Such benefits need not be uniform among such Employees. 
 SECTION 7 MISCELLANEOUS PROVISIONS 
 7.1 Construction. In the construction of the Plan, the masculine shall include the feminine and the singular the plural in all cases where such meanings would be
appropriate. Except as may be governed by ERISA or other applicable federal law, this Plan shall be construed, governed, regulated and administered according to the laws of the Commonwealth of Virginia. 
 7.2 Employment. Participation in the Plan shall not give any Employee the right to be retained in the employ of the Company or its Subsidiaries, or upon dismissal
or upon his or her voluntary termination of employment, to have any right, legal or equitable, under the Plan or any portion thereof, except as expressly granted by the Plan. 
 7.3 Nonalienability of Benefits. No benefit under the Plan shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge, and any attempt to do so shall
be void, and no such benefit shall in any manner be liable for or subject to the debts, liabilities, engagements or torts of the person entitled to such benefit, except as specifically provided in the Plan. 
 7.4 Facility of Payment. If the Company judges any recipient of benefits, in its sole discretion, to be legally incapable of personally receiving and giving a
valid receipt for any payment due him or her under the Plan, the Company may, unless and until claims shall have been made by a duly appointed guardian or committee of such person, make such payment or any part thereof to such person’s spouse,
children or other legal entity deemed by the Company to have incurred expenses or assumed responsibility for the expenses of such person. Any payment so made shall be a complete discharge of any liability under the Plan for such payment. 

 

	7.5	Obligation to Pay Amounts Hereunder. 

 (a) No trust
fund, escrow account or other segregation of assets need be established or made by the Company to guarantee, secure or assure the payment of any amount payable hereunder. The Company’s obligation to make payments pursuant to this Plan shall
constitute only a general contractual liability of the Company to individuals entitled to benefits hereunder and other actual or possible payees hereunder in accordance with the terms hereof. Payments hereunder shall be made only from such funds of
the Company as it shall determine, and no individual entitled to benefits hereunder shall have any interest in any particular asset of the Company by reason of the existence of this Plan. No provision of the Plan shall be interpreted so as to give
any individual any right in any assets of the Company greater than the rights of a general unsecured creditor of the Company. It is expressly understood as a condition for receipt of any benefits under this Plan that the Company is not obligated to
create a trust fund or escrow account or to segregate any asset of the Company in any fashion. 
 (b) The Company may, in its sole
discretion, establish segregated funds, escrow accounts or trust funds whose primary purpose would be for the provision of benefits under this Plan. If such funds or accounts are established, however, individuals entitled to benefits hereunder shall
not have any identifiable interest in any such funds or accounts nor shall such 
  

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 individuals be entitled to any preference or priority with respect to the assets of such funds or accounts. These funds
and accounts would still be available to judgment creditors of the Company and to all creditors in the event of the Company’s insolvency or bankruptcy. 
 7.6 Administration. The Plan shall be administered by the Company. The Company shall have the discretionary authority to construe and interpret the provisions of the Plan and make factual determinations thereunder, including the
power to determine the rights or eligibility of Employees or Participants and any other persons, and the amounts of their benefits under the Plan, and to remedy ambiguities, inconsistencies or omissions, and any such determinations shall be binding
on all parties. Benefits will only be paid if the Company, in its sole discretion, determines that the Participant or Beneficiary is entitled to them. 
 The
Company has the authority to delegate any of its powers under this Plan (including, without limitation, Section 7.7) to any other person, persons, or committee. This person, persons, or committee may further delegate its reserved powers to
another person, persons, or committee as they see fit. Any delegation or subsequent delegation shall include the same full, final and discretionary authority that the Company has listed herein and any decisions, actions or interpretations made by
any delegate shall have the same ultimate binding effect as if made by the Company. 
 7.7 Claims Appeal Procedure. Upon receipt of a claim for
benefits under the Plan, the Company shall notify the Participant, Beneficiary or authorized representative of any action taken within 90 days of receiving the claim. If the claim is denied, the denial shall be set forth in writing and shall include
the specific reasons for the denial, with reference to pertinent Plan provisions on which the denial is based, and shall describe the procedure for perfecting the claim, or for requesting a review of the denial. Within 60 days after receiving a
notification of denial of a claim, a Participant, Beneficiary or authorized representative may request that the Company make a full and fair review of the denial. In connection with this request, the Participant may review pertinent documents and
submit issues or comments in writing. The Company will make a final decision on the claim within 120 days of the request for review. Any decision made by the Company in good faith shall be final and binding on all parties. 
 7.8 Change of Control. Notwithstanding any provision herein to the contrary, immediately prior to the occurrence of a Change of Control, all allocations made to
Accounts of Participants who are then active Employees shall become fully vested and nonforfeitable. 
 7.9 Action by the Company. Any action or
authorization by the Company hereunder shall be made by the Chairman or its Board of Directors, or any delegate of either. 
 SECTION 8
AMENDMENT AND TERMINATION OF THE PLAN 
 8.1 Amendment. The Company has the right to modify or amend this Plan in whole or in part, effective as of
any specified date; provided, however, that the Company shall have no authority to modify or amend the Plan to: 
 (a) Reduce any benefit
accrued hereunder based on service and compensation to the date of amendment unless such action is necessary to prevent this Plan from being subject to any provision of Title 1, Subtitle B, Parts 2, 3 or 4 of ERISA; 
  

 9 

 (b) Permit the accrual, holding or payment of actual shares of common stock of the Company under the Plan
(such right to amend being reserved to the Board of Directors of the Company or its delegate); or 
 (c) Adversely affect any accrued
benefits hereunder (and any benefits that will accrue upon a Change of Control) and any rights attaching thereto after or in anticipation of the occurrence of a Change of Control. 
 No benefit hereunder shall be deemed to be adversely affected or otherwise reduced to the extent that any amendment or action affects the tax treatment of Plan benefits or an interest in future investment returns.

  

	8.2	Termination. 

 (a) The Company reserves the right to
terminate this Plan, in whole or in part. This Plan shall be automatically terminated upon (i) a dissolution of the Company (but not upon a merger, consolidation, reorganization, recapitalization or acquisition of a controlling interest in the
voting stock of the Company by another person or entity); (ii) the Company being legally adjudicated bankrupt; (iii) the appointment of a receiver or trustee in bankruptcy with respect to the Company’s assets and business if such
appointment is not set aside within ninety (90) days thereafter; or (iv) the making by the Company of an assignment for the benefit of creditors. 
 (b) Upon a termination of this Plan, (i) no additional Employees shall become entitled to benefits hereunder; (ii) all benefits accrued through the date of termination will become immediately nonforfeitable
as to each Participant; and (iii) no additional benefits (except that the Company, in its sole discretion, may provide for an allocation of “income” or “earnings” on the Participant’s contributions) shall be accrued
hereunder for subsequent payment. 
 (c) Pre-2005 Accounts accrued to the date of termination of the Plan shall be paid to the Participants
as soon as practicable. 
 (d) Post-2004 Accounts accrued to the date of termination of the Plan shall be paid to the Participants as soon as
practicable to the extent permitted under Section 409A and otherwise shall remain payable in accordance with Section 5.2. 
 SECTION
9 AMERICAN JOBS CREATION ACT COMPLIANCE 
 To the extent any provision of the Plan or action by the Company would subject any Participant to liability for
interest or additional taxes under Code Section 409A(a)(1)(B), it will be deemed null and void, to the extent permitted by law and deemed advisable by the Company. It is intended that the Plan will comply with Section 409A, and the Plan
shall be interpreted and construed on a basis consistent with such intent. The Plan may be amended in any respect deemed necessary (including retroactively) by the Company in order to preserve compliance with Section 409A. The preceding shall
not be construed as a guarantee of any particular tax effect for Plan benefits. 
  

 10 

 Following a Change of Control or a “change in control” as defined under Section 409A, no action shall be
taken under the Plan that will cause a Participant’s benefit that has previously been determined to be (or is determined to be) subject to Section 409A, to fail to comply in any respect with Section 409A without the written
consent of such Participant. 
  

 11 

 IN WITNESS WHEREOF, the Plan is hereby adopted as of the date set forth herein. 
  

	
	 GENERAL DYNAMICS CORPORATION

	
	 /s/ Walter M. Oliver

	 Walter M. Oliver

	 Senior Vice President,

	 Human Resources and Administration

  

 12

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