Document:

<PAGE>   1

                                      Exhibit 10.1 to Motorola, Inc.'s Form 10-K
                                            for the year ended December 31, 2000

              MOTOROLA PERFORMANCE EXCELLENCE = REWARDS PLAN (PE=R)

ELIGIBILITY

Select executives and key employees who are integral to the long-term success of
Motorola are eligible to participate in the Motorola Performance Excellence =
Reward Plan (PE=R). Generally, participants will be in grades E14 and above.

PARTICIPATION

Actual participation, from among the eligible group of employees, will be made
on an annual basis at the selection of your immediate supervisor.

Here is an overview of the Plan:

         INCENTIVE TARGETS

<TABLE>
<S>                                                                              <C>
         Below EXB (E15s and below):                                                      30%
         EXB:                                                                             45%
         EXE with annual base salary up to US$310K (elected officers):                    65%
         EXE with annual base salary of US$310K+ (elected officers):                      75%
         EXV (executive vice presidents):                                          75% or 85%
</TABLE>

       KEY METRICS

<TABLE>
<CAPTION>
                 PES SCORE*              % OF TARGET
             ------------------          -----------
<S>                                      <C>
                Less than 1.5            Less than 50%**
                     1.5                      50%
                     2.0                     100%
                     3.0                     140%
                     4.0                     200%
             -----------------------------------------------
             *   PES score may be adjusted up or down by the
                 CEO based on the degree of difficulty
                 relative to other businesses or functions

             **  CEO discretion

</TABLE>

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<PAGE>   2

SITUATIONS AFFECTING PE=R

>>       CHANGE IN EMPLOYMENT

         o        No participant who terminates employment prior to the payment
                  of an award will receive an unpaid award for the previous year
                  or a pro rata award for the current year.

>>       CHANGE IN CONTROL

         If Motorola undergoes a Change in Control (as defined in the Omnibus
         Incentive Plan of 2000):

         o        Award payments will be made for the previous fiscal year. If
                  actual individual award amounts have not already been
                  determined, the awards shall be based on the individual's
                  target award percentage and actual salary on the date of
                  Change in Control.

         o        Pro rata award payments will be made for the current fiscal
                  year based on the individual's target award percentage, actual
                  salary on the date of Change in Control, and the number of
                  completed months, as of the effective date of the Change in
                  Control.

         o        Awards will be paid in cash as soon as administratively
                  practicable following the effective date of the Change in
                  Control but in no event more than 30 days following a Change
                  in Control.

         o        These provisions may not be modified or terminated following a
                  Change in Control.

NONTRANSFERABILITY

Rights under the PE=R may not be sold, transferred, pledged, assigned, or
otherwise alternated or hypothecated.

RESERVATION AND RETAINMENT OF COMPANY RIGHTS

         o        All awards (other than those upon a Change in Control) are at
                  the discretion of the Compensation Committee.

         o        The selection of any employee for participation in PE=R will
                  not give that participant any right to be retained in the
                  employ of the Company.

         o        The right and power of the Company to terminate the employment
                  of any participant is specifically reserved.

         o        A participant in PE=R will not have any right to or interest
                  in any awards unless and until all terms, conditions, and
                  provisions of PE=R that affect that person have been fulfilled
                  as specified herein.

         o        No employee will at any time have a right to be selected for
                  participation in PE=R for any fiscal year, despite having been
                  selected for participation in a previous fiscal year.

GOVERNANCE

The Board of Directors or the Compensation Committee (with the assistance of the
Chief Executive Officer of the Company) is authorized to administer, construe,
and make all determinations necessary or appropriate to the administration of
the PE=R, all of which will be binding upon the participant.

AMENDMENT, MODIFICATION, AND TERMINATION

The Board of Directors or the Compensation Committee may amend, modify, or
terminate PE=R.

                                       2
<PAGE>   3

MISCELLANEOUS PROVISIONS

         o        The Company will have the right to require participants to
                  remit to the Company an amount sufficient to satisfy federal,
                  state, and local withholding tax requirements, or to deduct
                  from any or all payments under the PE=R amounts sufficient to
                  satisfy all withholding tax requirements.

         o        All obligations of the Company under the PE=R with respect to
                  payout of awards, and the corresponding rights granted
                  thereunder, will be binding on any successor to the Company,
                  whether the existence of such successor is the result of a
                  direct or indirect purchase, merger, consolidation, or other
                  acquisition of all or substantially all of the business and/or
                  assets of the Company.

         o        In the event that any provision of the PE=R will be held
                  illegal or invalid for any reason, the illegality or
                  invalidity will not affect the remaining parts of the plan,
                  and the PE=R will be construed and enforced as if the illegal
                  or invalid provision had not been included.

         o        No participant will have any interest whatsoever in any
                  specific asset of the Company. To the extent that any person
                  acquires a right to receive payments under the PE=R, such
                  right will be no greater than the right of any unsecured
                  general creditor of the Company.

         o        To the extent not preempted by federal law, the PE=R, and all
                  agreements hereunder, will be construed in accordance with and
                  governed by the laws of the state of Illinois without giving
                  effect to the principles of conflicts of laws.

                                       3<PAGE>   1
                                      Exhibit 10.7 to Motorola, Inc.'s Form 10-K
                                            for the year ended December 31, 2000

             MOTOROLA ELECTED OFFICERS SUPPLEMENTARY RETIREMENT PLAN
                             AS AMENDED May 1, 2000

         Motorola, Inc. (the "Company") heretofore established the Elected
Officers Supplementary Retirement Plan (the "Plan"). Effective November 9, 1988,
the Board of Directors of the Company approved extensive amendments to the Plan.
This document sets forth the Plan as amended on November 9, 1988 and includes
all additional amendments through May 1, 2000. The Plan and the Trust created to
fund the Company's obligations under the Plan are not intended to be qualified
under Sections 401(a) and 501(a) of the Internal Revenue Code.

         Section 1. Definitions. Where the following words and phrases appear in
this Plan, they shall have the respective meanings set forth below, unless the
context clearly indicates to the contrary:

         1.1 ACTUARIAL (OR ACTUARIALLY) EQUIVALENT: Equality in value of the
aggregate amounts expected to be received under different forms of payment, and
except as provided below, based on the actuarial assumptions, tables and
interest rates which are adopted by the Committee from time to time for this
purpose and are set forth in Appendix A hereto.

         1.2 AFFILIATED EMPLOYER: Any corporation which is a member of a
controlled group of corporations (as defined in Section 414 (b) of the Internal
Revenue Code) which includes the Company.

         1.3 ANNUITY STARTING DATE: As defined in Section 8.1 hereof.

         1.4 AVERAGE MEIP AWARD: As defined in Section 6 hereof.

         1.5 BOARD OF DIRECTORS: The Board of Directors of the Company, and
shall also mean any committee of the Board of Directors which has been delegated
authority to exercise the powers and authority of the Board of Directors with
respect to the Plan.

         1.6 CHANGE IN CONTROL: A change in control of a nature that would be
required to be reported in response to Item 6(e) of Schedule 14A of Regulation
14A promulgated under the Securities Exchange Act of 1934, as amended ("Exchange
Act") whether or not the Company is then subject to such reporting requirement;
provided that, without limitation, such a change in control shall be deemed to
have occurred if (A) any "person" or "group" (as such terms are used in Section
13(d) and 14(d) of the Exchange Act) is or becomes the "beneficial owner" (as
defined in Rule 13-d3 under the Exchange Act), directly or indirectly, of
securities

<PAGE>   2

of the Company representing 20% or more of the combined voting power of the
Company's then outstanding securities (other than the Company, any employee
benefit plan of the Company, any "person" who is a natural person and who was
shown as the "beneficial owner", directly or indirectly, of securities of the
Company representing more than 5% of the combined voting power of the Company's
securities in the Company's Proxy Statement dated earlier than, but closest to,
the Effective Date; and, for purposes of the Plan, no change in control shall be
deemed to have occurred as a result of the "beneficial ownership," or changes
therein, of the Company's securities by any of the foregoing), (B) there shall
be consummated (i) any consolidation or merger of the Company in which the
Company is not the surviving or continuing corporation or pursuant to which
shares of the Company's Common Stock would be converted into cash, securities or
other property, other than a merger of the Company, in which the holders of the
Company's Common Stock immediately prior to the merger have (directly or
indirectly) at least an 80% ownership interest in the outstanding Common Stock
of the surviving corporation immediately after the merger, or (ii) any sale,
lease, exchange or other transfer (in one transaction or a series of related
transactions) of all, or substantially all, of the assets of the Company, (C)
the stockholders of the Company approve any plan or proposal for the liquidation
or dissolution of the Company, or (D) as the result of, or in connection with,
any cash tender offer, exchange offer, merger or other business combination,
sale of assets, proxy or consent solicitation (other than by the Board),
contested election or substantial stock accumulation (a "Control Transaction"),
the members of the Board immediately prior to the first public announcement
relating to such Control Transaction shall thereafter cease to constitute a
majority of the Board.

         1.7 COMMITTEE: The persons appointed pursuant to Section 12 to assist
the Company in the administration of the Plan in accordance with said Section.

         1.8 COMPANY: Motorola, Inc., a corporation organized and existing under
the laws of the State of Delaware or its successor or successors.

         1.9 DISABILITY; DISABLED: The Committee shall determine, in its
reasonable discretion, whether any Participant has a Disability or is Disabled.

         1.10 EARLY RETIREMENT DATE: The first day of the calendar month
coincident with or immediately following the Participant's 60th birthday.

         1.11 EARLY RETIREMENT AGE: The Participant's 60th birthday.

                                       2
<PAGE>   3
         1.12 EFFECTIVE DATE: November 9, 1988, the date on which the provisions
of this Plan as amended on November 9, 1988 become effective.

         1.13 ERISA: The Employee Retirement Income Security Act of 1974, as
amended from time to time.

         1.14 ERISA EXCESS FORMULA: As defined in Section 6 hereof.

         1.15 HOUR OF SERVICE:

         (a) each hour for which an employee is paid, or entitled to payment,
         for the performance of duties for the Company. These hours will be
         credited to the employee for the computation period in which the duties
         are performed;

         (b) each hour for which an employee is paid, or entitled to payment, by
         the Company on account of a period of time during which no duties are
         performed (irrespective of whether the employment relationship has
         terminated) due to vacation, holiday, illness, incapacity (including
         Disability), layoff, jury duty, military duty or leave of absence. No
         more than 501 Hours of Service will be credited under this paragraph
         for a single computation period (whether or not the period of time
         during which no duties are performed occurs in a single computation
         period). Hours under this paragraph will be calculated and credited
         pursuant to section 2530.200b-2 of the Department of Labor Regulations
         which are incorporated herein by this reference; and

         (c) each hour for which back pay, irrespective of mitigation of
         damages, is either awarded or agreed to by the Company. The same Hours
         of Service will not be credited both under paragraph (a) or paragraph
         (b), as the case may be, and under this paragraph (c). These hours will
         be credited to the employee for the computation period or periods to
         which the award or agreement pertains rather than the computation
         period in which the award, agreement, or payment is made. Solely for
         purposes of determining whether a One Year Break in Service for vesting
         purposes has occurred in a computation period, an employee who is
         absent from work for maternity or paternity reasons shall receive
         credit for the Hours of Service which would otherwise have been
         credited to such employee but for such absence, or in any case in which
         such hours cannot be determined, 8 hours of service per day of such
         absence. For purposes of this paragraph, an absence from work for
         maternity or paternity reasons means an absence (1) by reason of the
         pregnancy of the employee, (2) by reason of a birth of a child of the
         employee, (3) by reason of the placement of a child with the employee
         in connection with the adoption of such child by such employee, or (4)
         for purposes of caring for such child

                                       3
<PAGE>   4

         for a period beginning immediately following such birth or placement.
         The Hours of Service credited under this paragraph shall be credited
         (1) in the computation period in which the absence begins if the
         crediting is necessary to prevent a One Year Break in Service in that
         period, or (2) in all other cases, in the following computation period.
         The total Hours of Service Required to be credited for maternity or
         paternity reasons shall not exceed 501 hours. As used in this
         definition, the term Company includes all Affiliated Employers.

         1.16 NORMAL FORMULA: As defined in Section 6 hereof.

         1.17 NORMAL RETIREMENT AGE: The Participant's 65th birthday.

         1.18 NORMAL RETIREMENT DATE: A Participant's Normal Retirement Date is
the first day of the calendar month coincident with or immediately following the
Participant's 65th birthday.

         1.19 OFFICER: An officer of the Company elected by the Board of
Directors.

         1.20 ONE YEAR BREAK IN SERVICE: An employee shall incur a One Year
Break in Service if in any computation period, as described in the definition of
a Year of Service, he does not complete more than five hundred (500) Hours of
Service. In the case of an employee who is absent from work for maternity or
paternity reasons, as described in Section 1.15, Hours of Service shall be
credited to such employee in accordance with Section 1.15.

         1.21 PBGC: Pension Benefit Guaranty Corporation, a body corporate
within the Department of Labor established under the provisions of Title IV of
ERISA.

         1.22 PARTICIPANT: An Officer participating in the Plan in accordance
with the provisions of Section 3.

         1.23 PENSION PLAN: The Motorola, Inc. Pension Plan.

         1.24 PLAN: Motorola Elected Officers Supplementary Retirement Plan, the
plan set forth herein, as amended from time to time.

         1.25 PLAN YEAR: The 12-month period commencing on January 1 and ending
on December 31.

         1.26 QUALIFIED JOINT AND SURVIVOR ANNUITY: As defined in Section 8.1
hereof.

         1.27 QUALIFIED PRE-RETIREMENT ANNUITY: As defined in Section 8.2
hereof.

                                       4
<PAGE>   5

         1.28 RETIREMENT BENEFIT: As defined in Section 6 hereof.

         1.29 SALARY: The amount paid to an Officer by the Company as annual
basic compensation, excluding awards under the Motorola Executive Incentive Plan
and Long Range Incentive Program, moving expense reimbursements, the imputed
fair market value of a Company provided automobile or excess group-term life
insurance coverage and similar imputed income items.

         1.30 SCRP: The Motorola Supplementary Contributory Retirement Plan.

         1.31 SERVICE CREDIT: As defined in Section 6 hereof.

         1.32 SUBSIDIARY: Any corporation more than fifty percent (50%) of the
outstanding voting stock of which (other than directors' qualifying shares) is
at the time directly or indirectly owned by the Company or by one or more
Subsidiaries or by the Company and one or more Subsidiaries.

         1.33 SURVIVOR ANNUITY STARTING DATE: As defined in Section 8.2 hereof.

         1.34 TRUST: Any trust established for receiving, holding, investing and
disposing of the Trust Fund and for implementing and carrying out the provisions
of the Plan.

         1.35 TRUSTEE: The person or entity named as trustee herein or in any
separate Trust forming part of this Plan, and any successors.

         1.36 TRUST AGREEMENT: As defined in Section 14.1 hereof.

         1.37 TRUST FUND: The Plan assets held by the Trustee under the Trust.

         1.38 YEAR OF SERVICE: A twelve (12) consecutive month period
(computation period) during which period the employee has completed at least one
thousand (1,000) Hours of Service. The computation period of an employee shall
begin with the date he commences employment with the Company and additional
computation periods shall begin on each succeeding anniversary of the date the
employee commences employment with the Company. In the event an employee's
employment with the Company is terminated and such employee has a One Year Break
in Service following the termination of his employment, and if such employee is
later reemployed by the Company, the computation period shall begin with the
date such employee is reemployed by the Company, and additional computation
periods shall begin on each succeeding anniversary of the date the employee was
reemployed by the Company. All Years of Service (both pre-break and post-break)
will be counted for vesting purposes and for calculating the

                                       5
<PAGE>   6

Retirement Benefit under the Normal Formula. Years of Service with any
Affiliated Employer shall be counted as Years of Service with the Company.

         Section 2. Construction. The masculine gender, where appearing in the
Plan, 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, not to any particular provision
or Section. Section headings are included for convenience of reference and are
not intended to add to, or subtract from, the terms of the Plan.

         Section 3. Participation. Each Officer who is age 55 or older on the
Effective Date shall become a Participant in the Plan, as amended, on the
Effective Date. After the Effective Date, an Officer shall become a Participant
in the Plan upon the earlier of (i) his designation as a Participant by the
Committee at any age under age 55, (ii) attaining age 55, (iii) his election as
an Officer if age 55 or older at that time, (iv) a Change in Control or (v) his
Disability; provided, however, that there shall be no new Participants in the
Plan after December 31, 1999. A Participant whose right to a Retirement Benefit
was not vested on December 31, 1999, shall no longer participate in the Plan
upon the Participant's acceptance of the offer to exchange his or her's interest
in the Plan for other consideration from Motorola.

         Section 4. Vesting. A Participant's right to a Retirement Benefit shall
be vested and nonforfeitable as follows:

         (a) For a Participant who has not attained age 60, when he has
         completed at least five Years of Service;

         (b) For a Participant who is age 60 or older but who has not attained
         age 65, when he has completed at least two Years of Service;

         (c) Upon attainment of age 65 (Normal Retirement Age) regardless of his
         Years of Service;

         (d) Upon a Change in Control of the Company regardless of the
         Participant's age or number of Years of Service;

         (e) At the time he becomes Disabled regardless of the Participant's age
         or number of Years of Service.

         Section 5. Eligibility for Retirement Benefits. To be eligible for a
Retirement Benefit under the Plan, a Participant must also be a participant in
the Pension Plan if eligible for participation, or the pension plan of a
Subsidiary if the Subsidiary has a pension plan and the Participant is eligible
to participate in it, and he must meet the other eligibility

                                       6
<PAGE>   7

requirements stated herein. A Participant who is vested and who retires on or
after age 60 shall be eligible to receive an unreduced Retirement Benefit upon
retirement. A Participant who retires at any age because of Disability shall be
eligible to receive an unreduced Retirement Benefit upon retirement. A
Participant whose employment with the Company terminates at any age because of a
Change in Control shall be eligible to receive an unreduced Retirement Benefit
upon retirement at or after age 55. A Participant who is vested and ceases to be
an Officer or ceases to be employed by the Company for any reason (other than
Disability or a Change in Control) before he has attained age 57 shall be
eligible to receive a deferred unreduced Retirement Benefit upon retirement at
or after age 60 or, subject to the condition stated hereinbelow, a deferred
Actuarially reduced Retirement Benefit determined as provided in this Section 5
upon retirement at or after age 57. A Participant who is vested and who retires
at or after age 57 but prior to age 60 shall, subject to the condition stated
hereinbelow, be eligible to receive an Actuarially reduced Retirement Benefit
upon retirement determined as follows:

         (a) With respect to the lump sum payment option, the lump sum amount to
be paid to the Participant will be equal to the cost to purchase (from an
insurance company selected by the Company) a deferred annuity for the
Participant at retirement which would provide the full Retirement Benefit with
payments commencing at age 60.

         (b) With respect to the lifetime income payments option, such payments
will be determined by the amount of lifetime income which could be provided by
purchasing an annuity with the lump sum amount determined in (a) above. The
other optional forms of payment under the Plan will also be available to the
Participant on an actuarially reduced basis.

Notwithstanding the foregoing, as a condition to the availability of a
Retirement Benefit at or after age 57 but prior to age 60, the Participant shall
enter into an agreement not to compete with the Company.

         Section 6. Determination of Amount of Retirement Benefit. A benefit for
each Participant shall be calculated under the Normal Formula. A benefit for
each Participant who participates in the Pension Plan shall also be calculated
under the ERISA Excess Formula. The formula which produces the greater benefit
will be the applicable formula for Participants who participate in the Pension
Plan. The benefit so calculated for each Participant, whether determined under
the Normal Formula or the ERISA Excess Formula, shall be reduced by the amount
(computed on a life annuity basis) payable to such Participant under the Pension
Plan (but not including SCRP payments), the pension plan of any Subsidiary, the
Company's Long Term Disability Plan, and the disability plan of any Subsidiary,
whichever plan or plans is or are at the time applicable to such Participant.
The result so

                                       7
<PAGE>   8

obtained shall be the Participant's "Retirement Benefit", provided, however,
that the Retirement Benefit payable annually to any Participant shall not exceed
seventy percent (70%) of his Salary as of the date immediately prior to
retirement.

         Normal Formula. The monthly benefit under the Normal Formula expressed
as lifetime income shall be calculated as follows: One-Twelfth (1/12) times the
sum of (i) Salary as of the date immediately prior to retirement (or as of such
earlier date as may be mutually agreed upon by the Company and the Officer
affected) or in the case of a deferred vested Retirement Benefit, as of the date
of the Participant's termination of employment plus (ii) the five year Average
MEIP Award paid to the Officer under the Motorola Executive Incentive Plan times
forty percent (40%) plus an additional percentage ("Service Credit") equal to
one-fourth (1/4) of one percent (1%) for each Year of Service of the Officer in
excess of ten (10) Years of Service, subject to the following maximums:

<TABLE>
<CAPTION>
      Age At                              Age At
     Retirement           Maximum        Retirement         Maximum
     ----------           -------        ----------         -------
<S>                       <C>            <C>                <C>
         55                42.50%            61              44.00%
         56                42.75%            62              44.25%
         57                43.00%            63              44.50%
         58                43.25%            64              44.75%
         59                43.50%            65 & over       45.00%
         60                43.75%
</TABLE>

If the Service Credit determined as above is less than the Early Service Credit
calculated under the Plan as it existed prior to the Effective Date for any
Participant, the Early Service Credit shall be used for such Participant in lieu
of the Service Credit determined as above.

         "Average MEIP Award" shall mean and shall be calculated as follows:

         (i) For each of the eight full calendar years prior to retirement, each
         year's MEIP award is calculated as a percentage of that year's actual
         earnings from Salary.

         (ii) The five calendar years which produce the highest percentages are
         then determined.

         (iii) The average of the percentages for those five years is then
         determined.

         (iv) The average of the percentages so determined is then applied to
         the Officer's Salary at retirement (or at such earlier date as may be
         mutually agreed upon by the Company and the Officer affected) to
         determine the Average MEIP Award amount for purposes of this Plan.

                                       8
<PAGE>   9

         Following is an example of the calculation:

<TABLE>
<CAPTION>
                     Actual                                                  MEIP Award as %
                  Earnings from                        MEIP                of Actual Earnings
Year                 Salary                            Award                  from Salary
----              -------------                      --------              -------------------
<S>               <C>                                <C>                   <C>
 1                $  190,000                         $57,000                    30.0%*
 2                   180,000                          36,000                    20.0%*
 3                   170,000                          30,600                    18.0%*
 4                   160,000                          20,800                    13.0%
 5                   150,000                          48,000                    32.0%*
 6                   140,000                           -0-                         0
 7                   130,000                          28,600                    22.0%*
 8                   110,000                          17,600                    16.0%

* Average MEIP rate for five years which                                        24.4%
  produces the highest percentage
</TABLE>

Final Salary = $200,000

Average MEIP Award (24.4% of $200,000 final Salary) = $48,800

         Payments made under the Long Range Incentive Program shall not be taken
into account in determining the Average MEIP Award.

         ERISA Excess Formula. The monthly benefit under the ERISA Excess
Formula expressed as lifetime income shall be calculated in the same manner as
the Normal Retirement Benefit is calculated under Section 6.1(b) of the Pension
Plan. The benefit calculated under this formula shall not be subject to the
limitations of Sections 401(a)(17) and 415 of the Internal Revenue Code.

         Notwithstanding the method prescribed above for calculating Average
MEIP Award, if, under extraordinary circumstances which are in the interest of
the Company, as determined by the Company (acting through the Board of Directors
or any committee thereof to whom authority has been delegated) in its sole
discretion, an Officer extends his or her employment beyond his or her planned
retirement date at the request of the Company, the Company may, with the consent
of the Officer affected, calculate the Officer's Average MEIP Award by using the
MEIP awards for the calendar years that would have been used if the Officer had
retired on the date originally planned.

         Section 7. Payment of Retirement Benefits. A Participant's Retirement
Benefit shall be paid in monthly installments commencing as follows: (i) in the
case of a vested Participant who retires prior to or on or after his Early
Retirement Age, on the first day of the month coinciding with or immediately
following the date of his retirement, (ii) in the case of a Participant who
retires before his Early Retirement Age because of Disability, on the first day
of the month coinciding with or

                                       9
<PAGE>   10

immediately following the date of Disability, and (iii) in the case of a
Participant who has a deferred vested Retirement Benefit, on the first day of
the month selected by the Participant after he has attained his Early Retirement
Age, or if a Change in Control has occurred, after he has attained age 55 rather
than his Early Retirement Age. Such payments shall continue on the first day of
each succeeding month until the benefit terminates as provided in the Plan for
the type of benefit being paid to the Participant. Unless the Participant elects
otherwise, in writing, payment of benefits under the Plan will begin not later
than the 60th day after the latest of the close of the Plan Year in which:

         (1)      the Participant attains Normal Retirement Age;

         (2)      occurs the 10th anniversary of the year in which the
                  Participant commenced participation in the Plan; or

         (3)      the Participant terminates his service with the Company.

         7.1 FACILITY OF PAYMENT: If, in the Committee's judgment, any person to
whom benefits are payable hereunder is under a legal disability or unable to
care for his affairs because of illness, accident, or other incapacity, any
payment due (unless prior claim therefor shall have been made by a duly
qualified guardian, committee, or other legal representative) may be paid to his
spouse, parent, brother or sister, or any other person as the Committee may
determine. Any such payment shall be a payment for the account of such person
and shall, to the extent thereof, be a complete discharge of any liability under
the Plan to such person.

         Section 8. Qualified Joint and Survivor Annuity and Qualified
Pre-Retirement Survivor Annuity.

         8.1 QUALIFIED JOINT AND SURVIVOR ANNUITY.

         (a) Unless otherwise elected as provided below, a Participant who is
         married on the Annuity Starting Date and who does not die before the
         Annuity Starting Date shall receive the value of his benefit in the
         form of a Qualified Joint and Survivor Annuity. An unmarried
         Participant shall receive the value of his benefit in the form of a
         life annuity. Such unmarried Participant, however, may elect in writing
         to waive the life annuity. The election must comply with the provisions
         of this Section as if it were an election to waive the joint and
         survivor annuity by a married Participant, but without the spousal
         consent requirement. The joint and survivor annuity and the life
         annuity form of distribution shall be the Actuarial Equivalent of the
         benefits due the Participant.

                                       10
<PAGE>   11

         (b) Any election to waive the Qualified Joint and Survivor Annuity must
         be made by the Participant in writing during the election period, must
         be consented to in writing by the Participant's spouse and must
         indicate that the Participant alone is to receive the benefit or
         designate a specific beneficiary or beneficiaries, including any class
         of beneficiaries or a contingent beneficiary and a form of benefit
         payment which may not be changed (except back to a Qualified Joint and
         Survivor Annuity) without spousal consent, unless the consent of the
         spouse expressly permits designations by the Participant without any
         requirement of further consent by the spouse. Such spouse's consent
         shall be irrevocable and must acknowledge the effect of such election
         and be witnessed by a Plan representative or a notary public. A consent
         that permits designations by the Participant without any requirement of
         further consent by such spouse must acknowledge that the spouse has the
         right to limit consent to a specific beneficiary and a specific form of
         benefit, where applicable and that the spouse voluntarily elects to
         relinquish either or both of such rights. Such consent shall not be
         required if it is established to the satisfaction of the Committee that
         the required consent cannot be obtained because there is no spouse, the
         spouse cannot be located, or other circumstances that may be prescribed
         by Treasury regulations. The election made by the Participant and
         consented to by his spouse may be revoked by the Participant in writing
         without the consent of the spouse at any time during the election
         period. The number of revocations shall not be limited. Any new
         election must comply with the requirements of this paragraph. A former
         spouse's waiver shall not be binding on a new spouse.

         (c) The election period to waive the joint and survivor annuity and to
         revoke an election shall be the ninety (90) day period ending on the
         Annuity Starting Date.

         (d) "Annuity Starting Date" means the first day of the first period for
         which an amount is paid as an annuity, or, in the case of a Retirement
         Benefit not payable in the form of an annuity, the first day on which
         all events have occurred which entitles the Participant to such
         Retirement Benefit.

         (e) "Qualified Joint and Survivor Annuity" means a reduced annuity for
         the life of the Participant with a survivor annuity for the life of the
         spouse which is either 50 percent (50%), 75 percent (75%) or 100
         percent (100%) (as selected by the Participant, and if no selection is
         made, it will be 50%) of the amount of the annuity which is payable
         during the joint lives of the Participant and the spouse and which is
         the Actuarial Equivalent of the normal form of benefit.

                                       11
<PAGE>   12
         (f) With regard to the election, the Committee shall provide the
         Participant no less than thirty (30) days and no more than ninety (90)
         days prior to the Annuity Starting Date (and consistent with Treasury
         regulations), a written explanation of:

                  (i) the terms and conditions of the Qualified Joint and
                  Survivor Annuity,

                  (ii) the Participant's right to make and the effect of an
                  election to waive the Qualified Joint and Survivor Annuity,

                  (iii) the right of the Participant's spouse to consent to any
                  election to waive the Qualified Joint and Survivor Annuity,

                  (iv) the right of the Participant to revoke such election, and
                  the effect of such revocation, and

                  (v) the relative values of the various optional forms of
                  benefit under the Plan.

         (g) The distribution of a benefit in the form of a Qualified Joint and
         Survivor Annuity shall not require the consent of the Participant's
         spouse if such distribution commences prior to the later of his Normal
         Retirement Age or age 62.

         8.2 QUALIFIED PRE-RETIREMENT SURVIVOR ANNUITY. In the case of a vested
Participant who dies before the Annuity Starting Date, whether or not separated
from service with the Company at the time of death, and who has a surviving
spouse, a Qualified Pre-Retirement Survivor Annuity shall be paid to the
surviving spouse of such Participant. This form of benefit may not be waived nor
may another beneficiary be selected. Under this form of benefit, the
Participant's surviving spouse will receive a lifetime annuity payable in
monthly installments equal to fifty percent (50%) of the Retirement Benefit
calculated for the deceased Participant as of the date immediately prior to his
death. For purposes of this Section 8.2, a surviving spouse will begin to
receive payments on the fist day of the month immediately following the date of
the Participant's death unless such surviving spouse elects a later date. A
surviving spouse's benefit will be paid in a lump sum upon such spouse's written
request made prior to the date benefit payments begin. The date on which a
surviving spouse begins to receive payments as an annuity or receive a lump sum
payment under this Section 8.2 shall be referred to as the "Survivor Annuity
Starting Date".

         8.3 NON-QUALIFIED PRE-RETIREMENT SURVIVOR ANNUITY. In addition to the
Qualified Pre-Retirement Survivor Annuity provided for in Section 8.2 hereof, in
the case of a vested

                                       12
<PAGE>   13

Participant who dies before his of her Annuity Starting Date, whether or not
separated from service with the Company at the time of death, and who has a
surviving spouse, a Non-Qualified Pre-Retirement Survivor Annuity shall be paid
to the surviving spouse of such Participant. This form of benefit may not be
waived nor may another beneficiary be selected. Under this form of benefit, the
Participant's surviving spouse will receive a lifetime annuity payable in
monthly installments equal to fifty percent (50%) of the Retirement Benefit
calculated for the deceased Participant as of the date immediately prior to his
of her death. For purposes of this Section 8.3, a surviving spouse will begin to
receive payments on the first day of the month immediately following the date of
the Participant's death unless such surviving spouse elects a later date. A
surviving spouse's benefit will be paid in a lump sum upon such spouse's written
request made prior to the date benefit payments begin. The date on which a
surviving spouse begins to receive payments as an annuity or receive a lump sum
payment under this Section 8.3 shall be referred to as the "Survivor Annuity
Starting Date."

         Section 9. Optional Methods of Payment. If a married Participant has
duly waived the Qualified Joint and Survivor Annuity form of benefit or if an
unmarried Participant has duly waived the life annuity form of benefit in
accordance with the requirements of Section 8.1, upon the written request of
such a Participant filed with the Committee before the Annuity Starting Date in
accordance with the rules governing such requests, the Committee shall provide
for him an optional form of Retirement Benefit, in one of the forms set forth
below, which shall be the Actuarial Equivalent of the Retirement Benefit to
which he would be otherwise entitled hereunder except that no optional form
shall be granted which would reduce the value of the Participant's Retirement
Benefit payable to him personally by more than fifty percent (50%):

         (i) a lump sum payment;

         (ii) in the case of a married Participant, in the form of a life
         annuity; or

         (iii) a life-ten years certain form as set forth in Section 6.7 (b) of
         the Pension Plan.

         Section 10. Limitations on Benefits. All rights and benefits, including
elections, provided to a Participant in the Plan shall be subject to the rights
afforded to any alternate payee under a qualified domestic relations order as
those terms are defined in Section 206 (d) of ERISA.

         Section 11. Nonalienation of Benefits. No benefit which shall be
payable out of the Trust Fund to any person (including a Participant or his
beneficiary), or any other amount or asset set aside or purchased under Section
13 to fund a Participant's Retirement Benefit, shall be subject in any manner to

                                       13
<PAGE>   14

anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, or
charge, and any attempt to anticipate, alienate, sell, transfer, assign, pledge,
encumber, or charge the same shall be void; and no such benefit shall in any
manner be liable for, or subject to, the debts, contracts, liabilities,
engagements, or torts of any such person, nor shall it be subject to attachment
or legal process for or against such person, and the same shall not be
recognized by the Trustee, except to such extent as may be required by law. This
provision shall also apply to the creation, assignment or recognition of a right
to a benefit payable with respect to a Participant pursuant to a domestic
relations order as defined in Section 206(d) of ERISA unless such order is
determined to be a qualified domestic relations order as defined in Section
206(d) of ERISA; provided, however, a domestic relations order entered prior to
January 1, 1985 may, in the discretion of the Officers Plan Committee or its
delegate, be treated as a Qualified Domestic Relations Order, even though the
order does not satisfy the requirement of Section 206(d) of ERISA. The Committee
shall establish a written procedure to determine the qualified status of
domestic relations orders and to administer distributions under such qualified
orders.

         Section 12. Administration.

         12.1 OFFICERS PLAN COMMITTEE: The Board of Directors shall appoint a
committee to be known as the Officers Plan Committee to administer the Plan. The
Committee shall be the Named Fiduciary for purposes of Section 402(a) of the
Act. The Committee shall consist of one or more persons appointed by the Board
of Directors, and each member shall serve until his resignation or removal or
until his successor is appointed. Each member may, but need not, be a director,
officer or employee of the Company. A member of the Committee may resign by
delivering his written resignation to the Board of Directors. Any member of the
Committee may be removed, with or without cause, by the Board of Directors.

         12.2 POWERS AND DUTIES OF THE COMMITTEE: The Committee shall carry out
the duties assigned to it under the Plan and shall administer the Plan in
accordance with its terms. The Committee shall have all powers as may be
necessary to carry out its duties under the Plan, including, but not by way of
limitation, the following: to construe and interpret the provisions of the Plan;
to decide any disputes which may arise under the Plan; to decide all questions
that shall arise under the Plan, including questions as to the eligibility to
become Participants, and the amount, manner and time of payment of any benefits
under the Plan; to decide questions submitted by the Trustee on all matters
necessary for it to properly discharge its duties, powers and obligations; to
employ or appoint legal counsel, accountants, actuaries, consultants or any
person to

                                       14
<PAGE>   15

assist in the administration of the Plan and any other agents it deems
advisable. The Committee shall also have the power to allocate and delegate
fiduciary responsibilities. The Committee shall have the power and authority to
direct the investment of the Trust Fund, and in connection with such power, may
delegate in writing authority to manage assets of the Trust Fund to one or more
investment managers. The Committee may adopt from time to time written
investment policies and guidelines which shall govern the manner in which the
assets of the Trust Fund are to be invested, which policies and guidelines shall
be followed by the investment managers. With respect to Retirement Benefits
funded under Section 13.1(b) or (c) hereof, the Committee shall have the
discretion to appoint such agents as are necessary to act on its behalf and
shall have the authority to direct the investment of amount held to fund such
Retirement Benefits.

         12.3 MEETINGS OF THE COMMITTEE: The Committee shall act by a majority
of its members at the time in office, and such action may be taken either by a
vote at a meeting or in writing without a meeting. The Committee may authorize
any person or persons, who may but need not be a member or members of the
Committee, to execute any document or documents on behalf of the Committee, in
which event the Committee shall notify the Trustee in writing of such action and
the name or names of such person or persons so designated. The Trustee
thereafter may accept and rely upon any document executed by such person or
persons as representing action by the Committee until the Committee shall file
with the Trustee a written revocation of such designation.

         12.4 ADOPTION OF RULES BY THE COMMITTEE: The Committee may adopt such
rules as it deems necessary, desirable or appropriate. All rules and decisions
of the Committee shall be uniformly and consistently applied to all Participants
in similar circumstances. When making a determination or calculation, the
Committee shall be entitled to rely upon information furnished by a Participant
or beneficiary, the Company, the legal counsel of the Company, or the Trustee.

         12.5 INSTRUCTIONS TO TRUSTEE: The Committee shall advise the Trustee in
writing with respect to all benefits which become payable under the terms of the
Plan and shall direct the Trustee to pay such benefits from the Trust Fund.

         12.6 REPORTS AND RECORDS: The Committee shall keep a record of all its
proceedings and acts and shall keep all such books of account, records, and
other data as may be necessary for the proper administration of the Plan. The
Committee shall file or cause to be filed all such annual reports, financial and
other statements as may be required by any federal or state statute, agency or
authority within the time prescribed by the law or regulations for filing said
documents. The Committee shall furnish such reports, statements and other
documents to Participants and Beneficiaries of the Plan as may be required by

                                       15
<PAGE>   16

any federal or state statute or regulation within the time prescribed for
furnishing such documents.

         12.7 INSPECTION OF RECORDS OF THE COMMITTEE: The Committee's records
and books of account shall be open to inspection at all reasonable times by the
Company or the Board of Directors, or both, or any person designated from time
to time by the Company or Board of Directors.

         12.8 INDEMNIFICATION: The Company shall indemnify each member of the
Committee, and the directors, officers and employees of the Company involved in
the operation and administration of the Plan against any and all claims, losses,
damages, expenses and liabilities arising from any action or failure to act,
except when the same is determined by the Board of Directors to be due to gross
negligence or willful misconduct of such member.

         12.9 CLAIMS PROCEDURE: The Committee shall make all determinations as
to the right of any person to a benefit. Any denial by the Committee of the
claim for benefits under the Plan by a Participant or beneficiary shall be
stated in writing by the Committee and delivered or mailed to the Participant or
beneficiary. Such notice shall set forth the specific reasons for the denial,
written in a manner that may be understood without legal or actuarial counsel.
In addition, the Committee shall afford a reasonable opportunity to any
Participant or beneficiary whose claim for benefits has been denied for a review
of the decision denying the claim.

         Section 13.  Funding of Retirement Benefits.

         13.1 DISCRETION OF COMMITTEE ON FORM OF FUNDING: The Plan is intended
to be a funded plan for purposes of ERISA, and is intended to be a permanent as
distinguished from a temporary program. Provided that the minimum funding
standards of ERISA are met, the Committee shall have the discretion to fund the
payment of each Participant's vested Retirement Benefit through one or more of
the following:

         (a) making contributions on such Participant's behalf to the Trust;

         (b) purchasing a commercial annuity contract or contracts and, to the
         extent the Committee deems advisable, transferring the annuity contract
         or contracts to such Participant; or

         (c) implementing any other funding method which the Committee, in its
         sole discretion, shall consider appropriate.

                                       16
<PAGE>   17
         The Committee's decision to use one method for funding one
Participant's Retirement Benefit shall not in any way limit the Committee's
discretion to use any other method for funding another Participant's Retirement
Benefit. Similarly, the Committee's decision to use one method for funding a
portion of a particular Participant's Retirement Benefit shall not limit the
Committee's discretion with respect to the funding of the remainder of such
Participant's Retirement Benefit. Moreover, the Committee shall have the
discretion to change, to the extent practicable, the method for funding any
Participant's Retirement Benefit. If at any time a Participant's Retirement
Benefit is funded through one or more methods which do not require the use of
the Trust, all references herein to the Trust, the Trust Fund and the Trustee
shall, with respect to such Participant, be disregarded.

         13.2 EARLY DISTRIBUTION: Under Section 13.1, the Committee may select a
method of funding that provides for distributions to be made to a Participant or
beneficiary before the Annuity Starting Date or the Survivor Annuity Starting
Date, as the case may be; provided, however, that to the extent ERISA requires
the consent of the Participant, his spouse, a beneficiary, or any combination
thereof, to any such distribution, no distribution shall be made unless such
consent or consents have been given.

         13.3 EMPLOYEE CONTRIBUTIONS: Under Section 13.1, the Committee may
select a method of funding that permits Participants to make contributions to
fund Retirement Benefits.

         13.4 PAYMENTS FOR TAXES: To the extent that the Committee's funding of
a Participant's Retirement Benefit pursuant to Section 13.1 results in adverse
foreign (non-United States), federal, state or local tax consequences to such
Participant which would not have resulted if such Participant's Retirement
Benefit had not been funded, the Committee may, in its discretion, authorize the
payment to such Participant, either by the Company or out of the Trust Fund, of
an amount sufficient to indemnify such Participant against some or all of such
adverse tax consequences.

         13.5 OVERFUNDING OF BENEFITS: The funding of Retirement Benefits under
Section 13.1 is intended solely to allow the Committee to establish a fund from
which the Company's liability to pay Retirement Benefits to Participants may be
satisfied, and not to increase in any way the Retirement Benefit to which a
Participant is entitled. Accordingly, to the extent the Committee funds a
Participant's Retirement Benefit pursuant to Section 13.1 based on certain
assumptions, but the actual payments resulting from such funding would exceed
such Participant's Retirement Benefit as determined under Section 6, the
Committee may, in its discretion, reallocate the excess among other Participants
who are presently covered by the Plan or who may be so covered in the future.
The Company shall have no right, title or interest in or to amounts or assets
used to fund

                                       17
<PAGE>   18

Retirement Benefits, and no part of any such amounts or assets shall revert to
the Company except that any amounts or assets remaining, because of
overpayments, after satisfaction of all liabilities of the Plan with regard to
Participants may revert to the Company. Any amounts or assets contributed to
fund Retirement Benefits under a mistake of fact shall be returned to the
Company, to the extent practicable, upon request within one (1) year after such
funding.

         13.6 UNDERFUNDED BENEFITS: The Committee's funding of some or all of a
Participant's Retirement Benefit under Section 13.1 shall not reduce the
Company's liability to provide to a Participant the Retirement Benefit to which
he is entitled under Section 6; provided, however, that if as a result of the
funding method adopted by the Committee any Participant or his beneficiary (i)
receives any distribution of cash from the Trust or any other entity prior to
the Annuity Starting Date or the Survivor Annuity Starting Date, as the case may
be, and (ii) fails to recontribute the after-tax amount of such distribution (as
defined in the following sentence) in order to fund a portion of such
Participant's Retirement Benefit, then the Committee may reduce such
Participant's Retirement Benefit by the sum of such after-tax amounts not
recontributed and the investment income the Trust would have earned thereon. For
purposes of this Section 13.6, the after-tax amount of a distribution shall be
the amount of such distribution reduced by the amount of any federal, state and
local taxes incurred by the Participant because of such distribution; provided,
however, that no such reduction will be made to the extent that the Participant
receives a payment from the Company indemnifying him for such taxes.

         Section 14. Trust Fund.

         14.1 TRUST AGREEMENT: As a part of the Plan, the Company may enter into
a Trust Agreement under which the Trustee would receive contributions of the
Company to the Trust Fund. The provisions of and benefits under the Plan are
subject to the terms and provisions of such Trust Agreement.

         14.2 CONTRIBUTIONS TO THE TRUST FUND: Subject to Section 13.4 hereof,
no contribution shall be required from any Participant. An individual account
will be established in the Trust Fund for each Participant whose Retirement
Benefit is funded, in whole or in part, through the Trust.

         Section 15. Benefits of Retired Officers and Spouses of Deceased
Officers.

         15.1 FUNDING OF BENEFITS: The benefits payable to Officers who retired
prior to the Effective Date shall continue to be paid by the Company under the
Plan provisions as they existed prior to the Effective Date; provided, however,
that on or before December 31, 1988, the Retirement Benefit of each

                                       18
<PAGE>   19

retired Officer shall be funded through the Trust; and, provided further, that
effective January 1, 1989, the Retirement Benefit of each retired Officer will
be recalculated under the formulas set forth in Section 6 of the Plan. Each
retired Officer will be given the right to elect, within a time period to be set
by the Committee, payment of the recalculated Retirement Benefit in a lump sum
or in the form of a Qualified Joint and Survivor Annuity or one of the optional
methods of payment specified in Section 9 of the Plan. If a retired Officer
elects to receive payment other than in a lump sum, the Committee will direct
the Trustee to purchase an annuity contract from the Trust Fund to fund the
benefit. The benefit currently being paid to a spouse of a deceased Officer
shall remain the same except that (i) on or before December 31, 1988 the benefit
payable to each such spouse shall be funded through the Trust and (ii) each such
spouse shall, within a reasonable time period to be set by the Committee, be
allowed to elect to receive a lump sum payment from the Trust or to continue to
receive installment payments. If a surviving spouse elects to continue to
receive installment payments, the Committee will direct the Trustee to purchase
an annuity contract from the Trust Fund to fund the benefit.

         15.2 UNDERFUNDING OF BENEFITS: The Committee's funding of some or all
of a retired Officer's or surviving spouse's benefit under Section 15.1 shall
not reduce the Company's liability to provide such retired Officer or surviving
spouse with the benefit to which he otherwise is entitled.

         15.3 PAYMENT FOR TAXES: To the extent the funding of a retired
Officer's or surviving spouse's benefit (either through the funding of the Trust
or the purchase of an annuity) results in adverse federal, state, or local tax
consequences to such retired Officer or surviving spouse which would not have
resulted if such retired Officer's or surviving spouse's benefit had not been
funded, the Committee may, in its discretion, authorize the payment to such
retired Officer or surviving spouse, either by the Company or out of the Trust
Fund, of an amount sufficient to indemnify such retired Officer or surviving
spouse against some or all of such adverse tax consequences.

         Section 16. Merger or Consolidation of Plan; Transfer of Assets. In the
event of any merger or consolidation of the Plan with another retirement or
pension plan, or in the event of any transfer of assets or liabilities from the
Plan to another retirement or pension plan, provision shall be made so that each
Participant in the Plan on the date thereof (if the Plan then terminated), would
receive a benefit immediately after the merger, consolidation or transfer which
is equal to or greater than the benefit he would have been entitled to receive
immediately prior to the merger, consolidation or transfer (if the Plan had then
terminated).

                                       19
<PAGE>   20
         Section 17. Amendments. The Board of Directors shall have the right at
any time to amend the Plan, the Trust Agreement and any other document entered
into as a result of a funding method adopted by the Committee under Section 13.1
hereof. However, no such amendment shall authorize or permit any part of the
Trust Fund or any other asset purchased or amount set aside to fund
Participants' Retirement Benefits (other than such part as is required to pay
administration expenses) to be used for or diverted to purposes other than for
the exclusive benefit of the Participants, either current or future, or their
beneficiaries or estates. No such amendment shall cause any reduction in the
vested accrued benefit of any Participant. The Company further reserves the
right to discontinue or suspend the payment of contributions to any fund held
under the Trust Agreement or under any other funding method adopted under
Section 13.1 hereof.

         Section 18. Termination. The Board of Directors shall have the right to
terminate the Plan at any time. Upon termination the amount credited to the
account of each Participant shall become fully vested and shall not thereafter
be subject to forfeiture. Upon termination of the Plan, the Company, by written
notice to the Trustee, may direct either:

         (i) continuation of the Trust and the distribution of benefits at such
         time and in such manner as though the Plan had not been terminated; or

         (ii) complete distribution of the assets in the Trust Fund to the
         Participants in a manner consistent with the Plan. In such case, the
         Trustee shall distribute to each Participant in the Plan and to each
         retired Participant, the amount then credited to his account in the
         Trust Fund, subject to provision for expenses of administration or
         liquidation.

The balance, if any, of the assets due to erroneous actuarial computation held
by the Trust Fund after such distribution shall be returned to the Company, but
only after satisfaction of all liabilities with respect to Participants and
Retirement Benefits under the Plan.

         Section 19. Miscellaneous.

         19.1 NO ENLARGEMENT OF RIGHTS: The Plan is strictly a voluntary
undertaking on the part of the Company and shall not be deemed to constitute a
contract between the Company and any Officer, or to be consideration for, or an
inducement to, or condition of, the employment of any Officer. Nothing contained
in the Plan shall be deemed to give any Officer the right to be retained in the
employment of the Company or to interfere with the right of the Company to
discharge any Officer at any time regardless of the effect which such discharge
shall have upon him as a Participant of the Plan. No Officer, prior to his

                                       20
<PAGE>   21

retirement under conditions of eligibility for retirement benefits or prior to
his acquiring vested rights, shall have any right or interest in or to any
portion of any funds arising from Company contributions under the Plan, and no
person shall have any right to Retirement Benefits, except to the extent
provided in the Plan.

         19.2 NOTICE OF ADDRESS: Each person entitled to benefits under the Plan
must file with the Committee, in writing, his post Office address and each
change of post office address. Any communication, statement, or notice addressed
to such a person at his latest post office address as filed with the Committee
will be binding upon such person for all purposes of the Plan, and neither the
Trustee nor the Company shall be obliged to search for or ascertain the
whereabouts of any such person.

         19.3 DATA: All persons entitled to benefits under the Plan must furnish
to the Committee or Trustee such documents, evidence, or information as the
Committee or Trustee considers necessary or desirable for the purpose of
administering the Plan, or to protect the Committee or Trustee, and it shall be
a condition of the Plan that each such person must furnish promptly true and
complete data, evidence, or information and sign such documents as the Committee
or Trustee may require before any benefits become payable under the Plan. In the
event that any data so furnished is found by the Company to be incorrect, any
payments thereafter due shall be adjusted on an actuarial basis to correct for
any previous overpayments or underpayments, as the case may be. After such
adjustment is made, all future payments shall be based on the corrected data.

         19.4 GOVERNING LAW: The Plan shall be governed by and construed in
accordance with ERISA and the laws of the State of Illinois to the extent not
preempted by ERISA.

                                       21

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