Document:

<PAGE>

                                                                     EXHIBIT 4.1

         PRINCIPAL SHAREHOLDERS' AGREEMENT (this "Agreement"), dated as of May
___, 2003, by and among Amazing Savings Holding LLC, a Delaware limited
liability company ("Purchaser"), and the other persons who are signatories
hereto (each a "Shareholder" and, collectively, the "Shareholders").

                                    RECITALS:

         WHEREAS, concurrently with the execution and delivery of this
Agreement, Odd Job Stores, Inc., an Ohio corporation (the "Company"), and
Purchaser are entering into a Tender Agreement of even date herewith (the
"Tender Agreement");

         WHEREAS, as of the date hereof, each Shareholder is the record and
beneficial owner of the number of shares of common stock, without par value, of
the Company (the "Company Common Stock") set forth opposite such Shareholder's
name on Schedule I hereto (with respect to each Shareholder, such Shares,
together with any other shares of Company Common Stock acquired by such
Shareholder after the date hereof, being referred to collectively as such
"Shareholder Shares"); and

         WHEREAS, the Shareholders have executed a written consent (the
"Shareholder Consent") to amend the Company's Amended and Restated Code of
Regulations to render inapplicable Section 1701.831 of the Ohio Revised Code to
the Company (the "Opt Out");

         WHEREAS, the Opt Out shall become effective 20 calendar days after the
Company has sent to its shareholders an information statement on Schedule 14C
relating thereto (the "Information Statement");

         WHEREAS, as a condition to its willingness to enter into the Tender
Agreement, Purchaser has required that each Shareholder enter into this
Agreement and, in order to induce Purchaser to enter into the Tender Agreement,
each Shareholder is willing to enter into this Agreement.

         NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants and agreements contained herein, the parties hereto, intending to be
legally bound hereby, agree as follows:

         1. Certain Definitions. Capitalized terms used but not otherwise
defined in this Agreement have the meanings ascribed to them in the Tender
Agreement.

         2. Agreements of Shareholders.

                  (a)      Tender. Unless this Agreement shall have been
terminated in accordance with its terms, each Shareholder agrees that it shall
(i) as promptly as practicable and in any event within ten business days after
the commencement of the Offer, validly tender all of such Shareholder's Shares
into the Offer, pursuant to and in accordance with the terms of the Offer, and
(ii) not withdraw any of such Shareholder's Shares from the Offer.

<PAGE>

                  (b)      Voting; Written Consent. From and after the date
hereof until any termination of this Agreement in accordance with its terms, at
any meeting of the shareholders of the Company however called (or any action by
written consent in lieu of a meeting) or any adjournment thereof, each
Shareholder agrees that it shall vote all of such Shareholder's Shares (or cause
them to be voted), or execute written consents in respect thereof, (i) in favor
of the Purchaser's acquisition of the majority or more of the voting power of
the Company, (ii) against any action or agreement that would result in a breach
of any representation, warranty, covenant, agreement or other obligation of the
Company contained in the Tender Agreement, (iii) against any Takeover Proposal
and (iv) against any agreement, amendment of the Company Charter Documents or
other action that is intended or could reasonably be expected to prevent,
impede, interfere with, delay, postpone or discourage the consummation of the
Offer or that would revoke or otherwise be inconsistent with the Shareholder
Consent or the Opt Out. Any such vote shall be cast (or consent shall be given)
by each Shareholder in accordance with such procedures relating thereto so as to
ensure that it is duly counted, including for purposes of determining that a
quorum is present and for purposes of recording the results of such vote (or
consent).

                  (c)      Restriction on Transfer; Proxies; Non-Interference;
etc. From and after the date hereof until any termination of this Agreement in
accordance with its terms, each Shareholder agrees that it shall not (i) sell,
transfer (including by operation of law), give, pledge, encumber, assign or
otherwise dispose of, or enter into any contract, option or other arrangement or
understanding with respect to the sale, transfer, gift, pledge, encumbrance,
assignment or other disposition of, any Shareholder Shares, (ii) deposit any of
such Shareholder's Shares into a voting trust or grant any proxies or enter into
a voting agreement, power of attorney or voting trust with respect to any
Shareholder Shares or (iii) take any action that would make any representation
or warranty of the Shareholders set forth in this Agreement untrue or incorrect
in any material respect or have the effect of preventing, disabling or
materially delaying the Shareholders from performing any of their obligations
under this Agreement.

                  (d)      No Solicitation. Each Shareholder agrees that it
shall immediately cease, and shall cause its affiliates and its and its
affiliates' respective directors, officers, employees, investment bankers,
attorneys, accountants and other representatives (hereinafter referred to
collectively as such "Shareholder's Representatives") to cease, any discussions
or negotiations with any Person that may be ongoing with respect to a Takeover
Proposal and use its reasonable best efforts to obtain the return from all such
Persons or cause the destruction of all copies of confidential information
provided to such parties by such Shareholder or its representatives that are
still in the possession of such Persons. From and after the date hereof until
any termination of this Agreement in accordance with its terms, each Shareholder
agrees that it shall not, and shall cause such Shareholder Representative not
to, directly or indirectly (i) solicit, initiate or knowingly encourage the
initiation of (including by way of furnishing information that has not been
previously publicly disseminated) any inquiries or proposals that constitute, or
may reasonably be expected to lead to, any Takeover Proposal or (ii) participate
in any discussions with any third party regarding, or furnish to any third party
any non-public information with respect to, or assist or facilitate, any
Takeover Proposal. In addition,

                                       2

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from and after the date hereof until any termination of this Agreement in
accordance with its terms, each Shareholder agrees that it shall promptly advise
Purchaser, orally and in writing, and in no event later than 48 hours after
receipt, if any proposal, offer, inquiry or other contact is received by, any
information is requested from, or any discussions or negotiations are sought to
be initiated or continued with, such Shareholder or such Shareholder's
Representatives in respect of any Takeover Proposal, and shall, in any such
notice to Purchaser, indicate the identity of the Person making such proposal,
offer, inquiry or other contact and the terms and conditions of any proposals or
offers or the nature of any inquiries or contacts (and shall include with such
notice copies of any written materials received from or on behalf of such Person
relating to such proposal, offer, inquiry or request), and thereafter shall keep
Purchaser informed, on a reasonably current basis and in reasonable detail, of
all material developments affecting the status and terms of any such proposals,
offers, inquiries or requests (and the Shareholders shall provide Purchaser with
copies of any additional written materials received that relate to such
proposals, offers, inquiries or requests) and of the status of any such
discussions or negotiations. As used in this paragraph, "affiliates" of the
Shareholders shall not include the Company and nothing contained in this Section
2(d) shall restrict any Shareholder's Representative who is a director of the
Company from taking any action in such capacity that is permitted by the terms
of the Tender Agreement.

                  (e)      Conduct of Shareholders. Until any termination of
this Agreement in accordance with its terms, each Shareholder agrees, to the
extent not a natural person, that it (i) shall maintain its status as duly
organized, validly existing and in good standing under the laws of the
jurisdiction of its organization and (ii) shall not dissolve, merge or combine
with any Person, or adopt any plan of complete or partial liquidation, in each
case, without the prior written consent of Purchaser, which consent shall not be
unreasonably withheld or delayed, it being agreed that Purchaser may withhold
its consent if in its judgment the proposed action would jeopardize the benefits
intended to be provided to Purchaser under this Agreement.

                  (f)      Publication. Each Shareholder consents to Purchaser
publishing and disclosing in the Offer Documents such Shareholder's identity and
ownership of Company Common Stock and the nature of such Shareholder's
commitments, arrangements and understandings contained in this Agreement.

         3. Representation and Warranties of Purchaser. Purchaser hereby
represents and warrants to the Shareholders as follows:

                  (a)      Corporate Organization. Purchaser is a limited
liability company duly organized, validly existing and in good standing under
the Limited Liability Company Act of Delaware.

                  (b)      Authority. Purchaser has all necessary limited
liability company power and authority to execute and deliver this Agreement and
to consummate the Transactions. The execution, delivery and performance by
Purchaser of this Agreement, and the consummation of the Transactions, have been
duly authorized and approved by both of its Voting Members and no other limited
liability company action on the part of

                                       3

<PAGE>

Purchaser is necessary to authorize the execution and delivery by Purchaser of
this Agreement and the consummation by it of the Transactions. This Agreement
has been duly executed and delivered by Purchaser and, assuming due and valid
authorization, execution and delivery hereof by each Shareholder, constitutes a
valid and binding obligation of Purchaser, enforceable against it in accordance
with its terms.

                  (c)      Consents and Approvals; No Violations.

                           (i)      Except for the filing with the SEC of the
Offer Documents and an Information Statement in definitive form relating to the
Opt Out, the filing with the ODS of the Form 041 and other filings required
under, and compliance with other applicable requirements of, the Exchange Act
and the rules of The Nasdaq Stock Market, no consents or approvals of, or
filings, declarations or registrations with, any Governmental Entity are
necessary for the consummation by Purchaser of the Transactions, other than such
other consents, approvals, filings, declarations or registrations that, if not
obtained, made or given, would not, individually or in the aggregate, reasonably
be expected to prevent or materially delay the performance by Purchaser of any
of its respective obligations under this Agreement.

                           (ii)     Neither the execution and delivery of this
Agreement by Purchaser, nor the consummation by Purchaser of the Transactions,
nor compliance by Purchaser with any of the terms or provisions hereof, will (A)
conflict with or violate any provision of the certificate of formation or
operating agreement of Purchaser or (B) assuming that the authorizations,
consents, approvals and filings referred to in Section 3(c)(i) are obtained and
made, violate any Law, judgment, writ or injunction of any Governmental Entity
applicable to Purchaser.

         4. Representations and Warranties of Shareholders. Each Shareholder
hereby severally represents and warrants to Purchaser as follows:

                  (a)      Organization; Authority.

                           (i)      If such Shareholder is a limited partnership
or corporation, such Shareholder is a corporation or limited partnership, as
applicable, duly organized, validly existing and in good standing under the laws
of its jurisdiction of formation or incorporation, as applicable. Such
Shareholder has all necessary partnership or corporate power and authority to
execute and deliver this Agreement and to consummate the transactions
contemplated hereby. The execution, delivery and performance by such Shareholder
of this Agreement, and the consummation of the transactions contemplated hereby,
have been duly authorized and approved by all necessary partnership or corporate
action on the part of such Shareholder and no further action on the part of such
Shareholder is necessary to authorize the execution and delivery by such
Shareholder of this Agreement and the consummation by such Shareholder of the
transactions contemplated hereby.

                                       4

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                           (ii)     This Agreement has been duly executed and
delivered by such Shareholder and, assuming due and valid authorization,
execution and delivery hereof by Purchaser, constitutes a valid and binding
obligation of such Shareholder, enforceable against such Shareholder in
accordance with its terms.

                  (b)      Consents and Approvals; No Violations.

                           (i)      No consents or approvals of, or filings,
declarations or registrations with, any Governmental Entity are necessary for
the consummation by such Shareholder of the transactions contemplated by this
Agreement, other than such other consents, approvals, filings, declarations or
registrations that, if not obtained, made or given, would not, individually or
in the aggregate, reasonably be expected to prevent or materially delay the
performance by such Shareholder of any of its obligations under this Agreement.

                           (ii)     Neither the execution and delivery of this
Agreement by such Shareholder, nor the consummation by such Shareholder of the
transactions contemplated hereby, nor compliance by such Shareholder with any of
the terms or provisions hereof, will (A) in the case of a Shareholder that is a
limited partnership or corporation, conflict with or violate any provision of
the limited partnership agreement, certificate of incorporation, by-laws or
other organizational documents, as applicable, of such Shareholder or (B)
assuming that the authorizations, consents, approvals and filings referred to in
Section 3(c)(i) are obtained and made, (x) violate any Law, judgment, writ or
injunction of any Governmental Entity applicable to such Shareholder or any of
its properties or assets, or (y) violate, conflict with, result in the loss of
any material benefit under, constitute a default (or an event which, with notice
or lapse of time, or both, would constitute a default) under, result in the
termination of or a right of termination or cancellation under, accelerate the
performance required by, or result in the creation of any Lien upon any of the
properties or assets of, such Shareholder under, any of the terms, conditions or
provisions of any note, bond, mortgage, indenture, deed of trust, license,
permit, lease, agreement or other instrument or obligation to which such
Shareholder is a party, or by which it or any of its properties or assets may be
bound or affected, except, in the case of this clause (B), for such violations,
conflicts, losses, defaults, terminations, cancellations, accelerations or Liens
as would not, individually or in the aggregate, reasonably be expected to
prevent or materially delay the performance by such Shareholder of any of its
obligations under this Agreement.

                  (c)      Ownership of Shares. Such Shareholder owns,
beneficially and of record, all of the Shareholder's Shares set forth opposite
such Shareholder's name on Schedule I hereto. Such Shareholder owns all of its
Shareholder's Shares free and clear of any proxy, voting restriction, adverse
claim or other Lien (other than restrictions in favor of Purchaser pursuant to
this Agreement and except for such transfer restrictions of general
applicability as may be provided under the Securities Act and the "blue sky"
laws of the various States of the United States). Without limiting the
foregoing, except for restrictions in favor of Purchaser pursuant to this
Agreement and except for such transfer restrictions of general applicability as
may be provided under the Securities Act and the "blue sky" laws of the various
States of the United States, such Shareholder has sole

                                       5

<PAGE>

voting power and sole power of disposition with respect to all such Shareholder
Shares, with no restrictions on such Shareholder's rights of voting or
disposition pertaining thereto and no Person other than such Shareholder has any
right to direct or approve the voting or disposition of any such Shareholder's
Shares. As of the date hereof, such Shareholder does not own, beneficially or of
record, any securities of the Company other than the Shareholder's Shares as set
forth opposite such Shareholder's name on Schedule I hereto.

                  (d)      Brokers. Other than Morgan Joseph, no broker,
investment banker, financial advisor or other Person is entitled to any
broker's, finder's, financial advisor's or other similar fee or commission that
is payable by the Company, Purchaser or any of their respective subsidiaries in
connection with the Transactions based upon arrangements made by or on behalf of
any Shareholder.

         5. Termination. This Agreement shall terminate on the first to occur of
(a) the termination of the Tender Agreement in accordance with its terms and (b)
the day after Company Common Stock is accepted for purchase pursuant to the
Offer. Notwithstanding the foregoing, (i) nothing herein shall relieve any party
from liability for breach of this Agreement prior to such termination and (ii)
the provisions of this Section 5 and Section 6 shall survive any termination of
this Agreement.

                  (a)      If (a) the Tender Agreement is terminated by (i) the
Company pursuant to Section 5.1(c)(ii) of the Tender Agreement or (ii) Purchaser
pursuant to Section 5.1(d) of the Tender Agreement as a result of the existence
of the conditions set forth in paragraphs (c), (e) or (g) of Annex A of the
Tender Agreement and (b) concurrently with or at any time within 18 months after
the date of any such termination, such Shareholder consummates (including,
without limitation, pursuant to a Takeover Proposal) the sale, transfer or other
disposition for value ("Sale") of any or all of the Shareholder's Shares to or
with any Person for consideration per share in excess of the Offer Price, then
such Shareholder shall, within three business days after the consummation of
such Sale, pay 40% of the excess, if any, of the per Share consideration
received by such Shareholder in such Sale in excess of the Offer Price. Any such
payment shall be made to Purchaser in the same form and in the same proportion
as was received by such Shareholder, with any non-cash consideration being
valued at fair market value as of the date received by such Shareholder.

         6. Miscellaneous.

                  (a)      Action in Shareholder Capacity Only. The parties
acknowledge that this Agreement is entered into by each Shareholder in its
capacity as owner of its Shareholder's Shares and that nothing in this Agreement
shall in any way restrict or limit any director of the Company from taking any
action in his capacity as a director of the Company that is necessary for him to
comply with his fiduciary duties as a director of the Company, including,
without limitation, participating in his capacity as a director of the Company
in any discussions or negotiations permitted by Section 4.2 of the Tender
Agreement.

                                       6

<PAGE>

                  (b)      Expenses. All costs and expenses incurred in
connection with the transactions contemplated by this Agreement shall be paid by
the party incurring such costs and expenses.

                  (c)      Additional Shares. Until any termination of this
Agreement in accordance with its terms, each Shareholder shall promptly notify
Purchaser of the number of Shares, if any, as to which such Shareholder acquires
record or beneficial ownership after the date hereof. Any Shares as to which
such Shareholder acquires record or beneficial ownership after the date hereof
and prior to termination of this Agreement shall be such Shareholder's Shares
for purposes of this Agreement. Without limiting the foregoing, in the event of
any stock split, stock dividend or other change in the capital structure of the
Company affecting the Company Common Stock, the number of Shares constituting
each Shareholder's Shares shall be adjusted appropriately and this Agreement and
the obligations hereunder shall attach to any additional shares of Company
Common Stock or other voting securities of the Company issued to each
Shareholder in connection therewith.

                  (d)      Definition of "Beneficial Ownership". For purposes of
this Agreement, "beneficial ownership" with respect to (or to "own
beneficially") any securities shall mean having "beneficial ownership" of such
securities (as determined pursuant to Rule 13d-3 under the Exchange Act),
including pursuant to any agreement, arrangement or understanding, whether or
not in writing.

                  (e)      Further Assurances. From time to time, at the request
of Purchaser and without further consideration, each Shareholder shall execute
and deliver such additional documents and take all such further action as may be
reasonably required to consummate and make effective, in the most expeditious
manner practicable, the transactions contemplated by this Agreement.

                  (f)      Entire Agreement; No Third Party Beneficiaries. This
Agreement constitutes the entire agreement, and supersedes all prior agreements
and understandings, both written and oral, among the parties, or any of them,
with respect to the subject matter hereof. This Agreement is not intended to and
shall not confer upon any Person other than the parties hereto any rights
hereunder.

                  (g)      Assignment; Binding Effect. Neither this Agreement
nor any of the rights, interests or obligations hereunder shall be assigned by
any of the parties hereto (whether by operation of law or otherwise) without the
prior written consent of the other parties, except that Purchaser may assign its
rights and interests hereunder to any wholly-owned subsidiary of Purchaser, if
any, if such assignment would not cause a delay in the consummation of any of
the Transactions, provided that no such assignment shall relieve Purchaser of
its obligations hereunder. Subject to the preceding sentence, this Agreement
shall be binding upon and shall inure to the benefit of the parties hereto and
their respective successors and permitted assigns. Any purported assignment not
permitted under this Section shall be null and void.

                                       7

<PAGE>

                  (h)      Amendments; Waiver. This Agreement may not be amended
or supplemented, except by a written agreement executed by the parties hereto.
Any party to this Agreement may (A) waive any inaccuracies in the
representations and warranties of any other party hereto or extend the time for
the performance of any of the obligations or acts of any other party hereto or
(B) waive compliance by the other party with any of the agreements contained
herein. Notwithstanding the foregoing, no failure or delay by Purchaser in
exercising any right hereunder shall operate as a waiver thereof nor shall any
single or partial exercise thereof preclude any other or further exercise
thereof or the exercise of any other right hereunder. Any agreement on the part
of a party hereto to any such extension or waiver shall be valid only if set
forth in an instrument in writing signed on behalf of such party.

                  (i)      Severability. If any term or other provision of this
Agreement is determined by a court of competent jurisdiction to be invalid,
illegal or incapable of being enforced by any rule of law or public policy, all
other terms, provisions and conditions of this Agreement shall nevertheless
remain in full force and effect. Upon such determination that any term or other
provision is invalid, illegal or incapable of being enforced, the parties hereto
shall negotiate in good faith to modify this Agreement so as to effect the
original intent of the parties as closely as possible to the fullest extent
permitted by applicable law in an acceptable manner to the end that the
transactions contemplated hereby are fulfilled to the extent possible.

                  (j)      Counterparts. This Agreement may be executed in two
or more separate counterparts, each of which shall be deemed to be an original
but all of which taken together shall constitute one and the same agreement.
This Agreement shall become effective when each party hereto shall have received
counterparts hereof signed by the other parties hereto.

                  (k)      Descriptive Headings. Headings of Sections and
subsections of this Agreement are for convenience of the parties only, and shall
be given no substantive or interpretive effect whatsoever.

                  (l)      Notices. All notices, requests and other
communications to any party hereunder shall be in writing (including facsimile
transmission) and shall be given,

                  if to Purchaser, to:

                           Amazing Savings Holding LLC
                           20 Industry Dr.
                           P.O. Box 25
                           Mountainville, NY 10953
                           Attention: Sam Friedland
                           Facsimile: (845) 534-4264

                                       8

<PAGE>

                  with a copy (which shall not constitute notice) to:

                           Weil, Gotshal & Manges LLP
                           767 Fifth Avenue
                           New York, NY 10153
                           Attention: David E. Zeltner
                           Facsimile: (212) 310-8007

                  if to Shareholders, to:

                           at the location and facsimile numbers set forth on
                           Schedule I

                  with a copy (which shall not constitute notice) to:

                           Kahn Kleinman
                           1301 E. Ninth St.
                           2600 Erieview Tower
                           Cleveland, Ohio 44114
                           Attn: Marc H. Morgenstern, Esq.
                           Fax: 216-623-4912

                           and

                           Jones, Day
                           North Point
                           901 Lakeside Avenue
                           Cleveland, OH 44114
                           Attention: Charles W. Hardin, Jr.
                           Facsimile: (216) 579-0212

or such other address or facsimile number as such party may hereafter specify
for the purpose by notice to the other parties hereto. All such notices,
requests and other communications shall be deemed received on the date of
receipt by the recipient thereof if received prior to 5 P.M. in the place of
receipt and such day is a business day in the place of receipt. Otherwise, any
such notice, request or communication shall be deemed not to have been received
until the next succeeding business day in the place of receipt.

                  (m)      Drafting. The parties hereto have participated
jointly in the negotiation and drafting of this Agreement and, in the event an
ambiguity or question of intent or interpretation arises, this Agreement shall
be construed as jointly drafted by the parties hereto and no presumption or
burden of proof shall arise favoring or disfavoring any party by virtue of the
authorship of any provision of this Agreement.

                                       9

<PAGE>

                  (n)      GOVERNING LAW; ENFORCEMENT; JURISDICTION; WAIVER OF
JURY TRIAL.

                           (i)      THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF OHIO, WITHOUT REGARD TO
THE PRINCIPLES OF CONFLICTS OF LAWS THEREOF.

                           (ii)     THE PARTIES AGREE THAT IRREPARABLE DAMAGE
WOULD OCCUR IN THE EVENT THAT ANY OF THE PROVISIONS OF THIS AGREEMENT WERE NOT
PERFORMED IN ACCORDANCE WITH THEIR SPECIFIC TERMS OR WERE OTHERWISE BREACHED. IT
IS ACCORDINGLY AGREED THAT THE PARTIES SHALL BE ENTITLED TO AN INJUNCTION OR
INJUNCTIONS TO PREVENT BREACHES OF THIS AGREEMENT AND TO ENFORCE SPECIFICALLY
THE TERMS AND PROVISIONS OF THIS AGREEMENT IN ANY COURT OF THE UNITED STATES
LOCATED IN THE STATE OF OHIO OR NEW YORK OR IN OHIO OR NEW YORK STATE COURT,
WITHOUT BOND OR OTHER SECURITY BEING REQUIRED, THIS BEING IN ADDITION TO ANY
OTHER REMEDY TO WHICH THEY ARE ENTITLED AT LAW OR IN EQUITY.

                           (iii)    EACH OF THE PARTIES HERETO (A) CONSENTS TO
SUBMIT ITSELF TO THE PERSONAL JURISDICTION OF ANY FEDERAL COURT LOCATED IN THE
STATE OF OHIO OR NEW YORK OR ANY OHIO OR NEW YORK STATE COURT IN THE EVENT ANY
DISPUTE ARISES OUT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED
HEREBY, (B) AGREES THAT IT WILL NOT ATTEMPT TO DENY OR DEFEAT SUCH PERSONAL
JURISDICTION BY MOTION OR OTHER REQUEST FOR LEAVE FROM ANY SUCH COURT AND (C)
AGREES THAT IT WILL NOT BRING ANY ACTION RELATING TO THIS AGREEMENT OR ANY OF
THE TRANSACTIONS CONTEMPLATED HEREBY IN ANY COURT OTHER THAN A FEDERAL OR STATE
COURT SITTING IN THE STATE OF OHIO OR NEW YORK.

                           (iv)     EACH OF THE PARTIES HERETO HEREBY
IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY.

                                       10

<PAGE>

         IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed as of the date first above written.

                                                     AMAZING SAVINGS HOLDING LLC

                                                     By:/s/ Sam Friedland
                                                        ------------------------
                                                     Name: Sam Friedland
                                                     Title:

                                                     ZS MAZEL L.P.

                                                     By: /s/ Robert Horne
                                                         -----------------------
                                                     Name: Robert Horne
                                                     Title:

                                                     ZS MAZEL II, L.P.

                                                     By: /s/ Robert Horne
                                                         -----------------------
                                                     Name: Robert Horne
                                                     Title:

                                                     ZS MAZEL INC.

                                                     By: /s/ Robert Horne
                                                         -----------------------
                                                     Name: Robert Horne
                                                     Title:

                                                     MAZEL/D&K, INC.

                                                     By: /s/ Jacob Koval
                                                         -----------------------
                                                     Name: Jacob Koval
                                                     Title:

                                       11

<PAGE>

                 SCHEDULE I TO PRINCIPAL SHAREHOLDERS' AGREEMENT

<TABLE>
<CAPTION>
Name and Address of Shareholder                        Number of Shares Owned
-------------------------------                        ----------------------
<S>                                                    <C>
1.       ZS Mazel L.P.                                       1,978,530

2.       ZS Mazel II, L.P.                                     450,698

3.       ZS Mazel Inc.                                         302,555

4.       Mazel/D&K, Inc.                                     2,058,105
</TABLE>

                                       12<PAGE>

                                                                     EXHIBIT 4.6

                         CORE MOLDING TECHNOLOGIES, INC.

              AMENDED AND RESTATED LONG-TERM EQUITY INCENTIVE PLAN

                                   ARTICLE ONE

                     ESTABLISHMENT, OBJECTIVES AND DURATION

         1.1      ESTABLISHMENT OF THE PLAN. Core Molding Technologies, Inc., a
Delaware corporation formerly known as Core Materials Corporation (hereinafter
referred to as the "Company"), hereby amends and restates the incentive
compensation plan known as the "Core Molding Technologies, Inc. Long-Term Equity
Incentive Plan" (as amended and restated hereby, hereinafter referred to as the
"Plan"), as set forth in this document. The Plan permits the grant of
Nonqualified Stock Options, Incentive Stock Options, Director Options, Stock
Appreciation Rights, Restricted Stock, Performance Shares and Performance Units
and Other Incentive Awards.

         The original Plan became effective as of January 1, 1997 and was
approved by the Company's stockholders on May 29, 1997. The Plan shall remain in
effect as provided in Section 1.3 hereof. The amendments to the original Plan
effected hereby shall become effective as of January 1, 2000 upon approval
thereof by the Company's stockholders.

         1.2      OBJECTIVES OF THE PLAN. The objectives of the Plan are to
optimize the profitability and growth of the Company through incentives which
are consistent with the Company's goals and which link and align the personal
interests of Participants and Eligible Directors with an incentive for
excellence in individual performance; and to promote teamwork.

         The Plan is further intended to provide flexibility to the Company in
its ability to motivate, attract and retain the services of Participants and
Eligible Directors who make significant contributions to the Company's success
and to allow Participants and Eligible Directors to share in the success of the
Company.

         1.3      DURATION OF THE PLAN. The Plan shall commence on the Effective
Date, as described in Section 1.1 hereof, and shall remain in effect, subject to
the right of the Board of Directors to amend or terminate the Plan at any time
pursuant to Article 16 hereof, until all Shares subject to it shall have been
purchased or acquired according to the Plan's provisions. However, in no event
may an Award or Director Option be granted under the Plan on or after December
31, 2006.

                                   ARTICLE TWO

                                   DEFINITIONS

         Whenever used in the Plan, the following terms shall have the meanings
set forth below, and when the meaning is intended, the initial letter of the
word shall be capitalized:

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         "Award" means, individually or collectively, a grant under this Plan of
Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights,
Restricted Stock, Performance Shares or Performance Units, or Other Incentive
Awards, but shall not include any Director Option.

         "Award Agreement" means an agreement entered into by the Company and
each Participant setting forth the terms and provisions applicable to Awards
granted under this Plan.

         "Beneficial Owner" or "Beneficial Ownership" shall have the meaning
ascribed to such term in Rule 13d-3 of the General Rules and Regulations under
the Exchange Act.

         "Board" or "Board of Directors" means the Board of Directors of the
Company.

         "Change in Control" of the Company means the Company or its
shareholders entering into one or more agreements to dispose of all or
substantially all of the assets or fifty percent (50%) or more of the
outstanding capital stock of the Company by means of sale (whether as a result
of a tender offer or otherwise), merger, reorganization or liquidation in one or
a series of related transactions; provided, however, that a "Change in Control"
shall not occur in the event that (a) the primary purpose of the transaction is
to change the Company's domicile solely within the United States; or (b) the
transaction is approved by a majority of the members of the Board of Directors
who had either been in office for more than twelve months prior to such
transaction or had been elected, or nominated for election by the Company's
shareholders, by the vote of three-fourths of the directors then still in office
who were directors at the beginning of such twelve-month period.

         "Code" means the Internal Revenue Code of 1986, as amended from time to
time.

         "Committee" means the Compensation Committee of the Board, as specified
in Article 3 herein, or such other Committee appointed by the Board to
administer the Plan with respect to grants of Awards.

         "Company" means Core Molding Technologies, Inc., a Delaware
corporation, and the Company's Subsidiaries, as well as any successor to any of
such entities as provided in Article 19 herein.

         "Director" means any individual who is a member of the Board of
Directors of the Company.

         "Director Option" means a Nonqualified Stock Option granted to each
Eligible Director pursuant to Section 6.9 without any action by the Board or the
Committee.

         "Disability" shall have the meaning ascribed to such term in the
Participant's governing long-term disability plan. To the extent that a
Participant is not covered under a long-term disability plan, the term
"Disability" shall have the meaning ascribed to the term "permanent and total
disability" under Section 22(e)(3) of the Code, or any successor provision
thereto.

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         "Effective Date" shall have the meaning ascribed to such term in
Section 1.1 hereof.

         "Eligible Director" means, on any date, a person who is serving as a
member of the Board who is a Nonemployee Director.

         "Employee" means any employee of the Company. Nonemployee Directors
shall not be considered Employees under this Plan unless specifically designated
otherwise.

         "Exchange Act" means the Securities Exchange Act of 1934, as amended
from time to time, or any successor act thereto.

         "Fair Market Value" shall be determined on the basis of the average of
the high and low sale prices on the principal securities exchange on which the
Shares are publicly traded or, if there is no such sale on the relevant date,
then on the last previous day on which a sale was reported.

         "Freestanding SAR" means an SAR that is granted independently of any
Options, as described in Article 7 herein.

         "Incentive Stock Option" or "ISO" means an option to purchase Shares
granted under Article 6 herein and which is designated as an Incentive Stock
Option and which is intended to meet the requirements of Code Section 422.

         "Insider" shall mean an individual who is, on the relevant date, an
officer, director or ten percent (10%) beneficial owner of any class of the
Company's equity securities that it registered pursuant to Section 12 of the
Exchange Act, as defined under Section 16 of the Exchange Act.

         "Named Executive Officer" means a Participant who, as of the date of
vesting and/or payout of an Award, as applicable, is one of the group of
"covered employees," as defined in the regulations promulgated under Code
Section 162(m), or any successor statute.

         "Nonemployee Director" means an individual who is a member of the Board
of Directors of the Company but who is not an Employee of the Company or a
Subsidiary.

         "NonQualified Stock Option" or "NQSO" means an option to purchase
Shares granted under Article 6 herein and which is not intended to meet the
requirements of Code Section 422.

         "Option" means an Incentive Stock Option or a Nonqualified Stock
Option, as described in Article 6 herein, but shall not include a Director
Option.

         "Option Price" means the price at which a Share may be purchased by a
Participant pursuant to an Option.

         "Other Incentive Award" means an award granted pursuant to Article 10
hereof.

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         "Participant" means an Employee who has outstanding an Award granted
under the Plan.

         "Performance-Based Exception" means the performance-based exception
from the tax deductibility limitations of Code Section 162(m).

         "Performance Period" means the time period during which performance
goals must be achieved with respect to an Award, as determined by the Committee.

         "Performance Share" means an Award granted to a Participant, as
described in Article 9 herein.

         "Performance Unit" means an Award granted to a Participant, as
described in Article 9 herein.

         "Period of Restriction" means the period during which the transfer of
Shares of Restricted Stock is limited in some way (based on the passage of time,
the achievement of performance goals, and/or upon the occurrence of other events
as determined by the Committee at its discretion), and the Shares are subject to
a substantial risk of forfeiture, as provided in Article 8 herein.

         "Person" shall have the meaning ascribed to such term in Section
3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof,
including a "group" as defined in Section 13(d) thereof.

         "Restricted Stock" means an Award granted to a Participant pursuant to
Article 8 herein.

         "Retirement" means the normal retirement date on which a Participant
qualifies for full retirement benefits under the Company's qualified retirement
plan, as identified by the Committee. In the event that a Participant is not
covered under any qualified retirement plan maintained by the Company, the term
"Retirement' shall mean the date on which such Participant attains age 65.

         "Shares" means the shares of common stock of the Company.

         "Share Pool" means the number of shares authorized for issuance under
paragraph 4.1, as adjusted for awards and payouts under paragraph 4.2 and as
adjusted for changes in corporate capitalization under paragraph 4.3.

         "Stock Appreciation Right" or "SARA" means an Award, granted alone or
in connection with a related Option, designated as an SAR, pursuant to the terms
of Article 7 herein.

         "Subsidiary" means any corporation, partnership, joint venture,
affiliate or other entity in which the Company has a majority voting interest,
and which the Committee designates as a participating entity in the Plan.

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         "Tandem SAR" means an SAR that is granted in connection with a related
Option pursuant to Article 7 herein, the exercise of which shall require
forfeiture of the right to purchase a Share under the related Option (and when a
Share is purchased under the Option, the Tandem SAR shall similarly be
canceled).

                                  ARTICLE THREE

                                 ADMINISTRATION

         3.1      THE COMMITTEE. The Plan shall be administered by the
Compensation Committee of the Board or by any other Committee appointed by the
Board. The members of the Committee shall be appointed from time to time by, and
shall serve at the discretion of, the Board of Directors. Notwithstanding any
provision contained herein, to the extent that any Award is designed to comply
with the Performance-Based Exception, the Committee shall satisfy the
requirements contained in Section 1.162-27(c)(4) of the final regulations
promulgated by the Internal Revenue Service under Section 162(m) of the Code.
For purposes of granting Awards under the Plan, the Committee shall be composed
of not less than the minimum number of persons from time to time required by
Rule 16b-3 under the Exchange Act, each of whom shall be a "non-employee
director" within the meaning of Rule 16b-3 under the Exchange Act, or any
successor rule or regulation.

         3.2      AUTHORITY OF THE COMMITTEE. Except as limited by law or by the
Certificate of Incorporation or Bylaws of the Company, and subject to the
provisions herein, the Committee shall have full power to select Employees who
shall participate in the Plan; determine the sizes and types of awards;
determine the terms and conditions of Awards in a manner consistent with the
Plan; construe and interpret the Plan and any agreement or instrument entered
into under the plan; establish, amend or waive rules and regulations for the
Plan's administration; and (subject to the provisions of Article 16 herein)
amend the terms and conditions of any outstanding Award to the extent such terms
and conditions are within the discretion of the Committee as provided in the
Plan. Further, the Committee shall make all other determinations which may be
necessary or advisable for the administration of the Plan. As permitted by law,
the Committee may delegate its authority as identified herein. Notwithstanding
anything else contained in the Plan to the contrary, neither the Committee nor
the Board shall have any discretion regarding whether an Eligible Director shall
receive a Director Option pursuant to Section 6.9 or regarding the terms of any
Director Option, including, without limitation, the number of Shares subject to
such Director Option, the timing of the grant or the exercisability of such
Director Option or the exercise price per Share of such Director Option.

         3.3      DECISIONS BINDING. All determinations and decisions made by
the Committee pursuant to the provisions of the Plan and all related orders and
resolutions of the Board shall be final, conclusive and binding on all persons,
including the Company, its stockholders, Employees, Participants and their
estates and beneficiaries.

                                  ARTICLE FOUR

                  SHARES SUBJECT TO THE PLAN AND MAXIMUM AWARDS

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         4.1      NUMBER OF SHARES AVAILABLE FOR GRANTS. Subject to adjustment
as provided in Section 4.3 herein, the number of Shares hereby reserved for
issuance under the Plan shall be Three Million (3,000,000.00). The Committee
shall determine the appropriate methodology for calculating the number of Shares
issued pursuant to the Plan.

         Unless and until the Committee determines that an Award to a Named
Executive Officer shall not be designed to comply with the Performance-Based
Exception, the following rules shall apply to grants of such Awards under the
Plan:

                  (a)      The maximum aggregate number of Shares (including
Options, SARs, Restricted Stock, Performance Units and Performance Shares paid
out in Shares, or Other Incentive Awards paid out in Shares) that may be granted
or that may vest, as applicable, in any fiscal year pursuant to any Award held
by any Named Executive Officer shall be Two Hundred Thousand (200,000). For this
purpose, to the extent that any Option is canceled (as described in Section
1.162-27(e)(2)(vi)(B) of the final regulations under Section 162(m) of the Code,
such canceled Option shall continue to be counted against the maximum number of
Shares for which Options may be granted to a Named Executive Officer under the
Plan; and

                  (b)      The maximum aggregate cash payout (including
Performance Units and Performance Shares paid out in cash), or Other Incentive
Awards paid out in cash) with respect to Awards granted in any fiscal year which
may be made to any Named Executive Officer shall be One Hundred Twenty-Five
Thousand Dollars ($125,000).

         4.2      LAPSED AWARDS. If any Award or Director Option granted under
this Plan is canceled, terminates, expires, or lapses for any reason (with the
exception of the termination of a Tandem SAR upon exercise of the related
Option, or the termination of a related Option upon exercise of the
corresponding Tandem SAR), any Shares subject to such Award or Director Option
again shall be available for the grant of an Award or Director Option under the
Plan.

         4.3      ADJUSTMENTS IN AUTHORIZED SHARES. In the event of any change
in corporate capitalization, such as a stock split, or a corporate transaction,
such as any merger, consolidation, separation, including a spin-off, or other
distribution of stock or property of the Company, any reorganization (whether or
not such reorganization comes within the definition of such term in Code Section
368), or any partial or complete liquidation of the Company, such adjustment
shall be made in the number and class of Shares available in the Share Pool and
in the number and class of and/or price of Shares subject to outstanding Awards
granted under the Plan, as may be determined to be appropriate and equitable by
the Committee, in its sole discretion, to prevent dilution or enlargement of
rights; provided, however, that the number of Shares subject to any Award shall
always be a whole number. If, pursuant to the preceding sentence, an adjustment
is made to outstanding Options held by Participants, a corresponding adjustment
shall be made to outstanding Director Options and if, pursuant to the preceding
sentence, an adjustment is made to the number of Shares authorized for issuance
under the Plan, a corresponding adjustment shall be made to the number of Shares
subject to each Director Option thereafter granted pursuant to Section 6.9.

                                     - 10 -

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                                  ARTICLE FIVE

                          ELIGIBILITY AND PARTICIPATION

         5.1      ELIGIBILITY. Persons eligible to participate in this Plan
include all officers and key employees of the Company, as determined by the
Committee, including Employees who are members of the Board and Employees who
reside in countries other than the United States of America.

         5.2      ACTUAL PARTICIPATION. Subject to the provisions of the Plan,
the Committee may, from time to time, select from all eligible Employees, those
to whom Awards shall be granted and shall determine the nature and amount of
each Award. Each Eligible Director shall receive nondiscretionary Director
Options in accordance with, and only in accordance with, Section 6.9 hereof.

                                   ARTICLE SIX

                                  STOCK OPTIONS

         6.1      GRANT OF OPTIONS. Subject to the terms and provisions of the
Plan, Options may be granted, either by the Committee or the Board, to one or
more Participants in such number, and upon such terms, and at any time and from
time to time as shall be determined by the Committee. The Committee or the Board
shall have the authority to grant Incentive Stock Options or to grant
Nonqualified Stock Options or to grant both types of Options. In the case of
Incentive Stock Options, the terms and conditions of such grants shall be
subject to, and comply with, such rules as may be prescribed by Section 422 of
the Code, as from time to time amended, and any regulations implementing such
statute, including, without limitation, the requirements of Code Section 422(d)
which limit the aggregate Fair Market Value of Shares (determined at the time
that such Option is granted) for which Incentive Stock Options are exercisable
for the first time to $100,000 per calendar year. Each provision of the Plan and
of each written Award Agreement relating to an Option designated as an Incentive
Stock Option shall be construed so that such Option qualifies as an Incentive
Stock Option, and any provision that cannot be so construed shall be
disregarded.

         6.2      AWARD AGREEMENT. Each Option grant shall be evidenced by an
Award Agreement that shall specify the Option Price, the duration of the Option,
the number of Shares to which the Option pertains, and such other provisions as
the Committee shall determine. The Award Agreement also shall specify whether
the Option is intended to be an ISO or an NQSO.

         6.3      OPTION PRICE. Unless otherwise designated by the Committee at
the time of grant, the Option Price for each grant of an Option under this Plan
shall be at least equal to one hundred percent (100%) of the Fair Market Value
of a Share on the date the Option is granted. Notwithstanding any provision
contained herein, in the case of an Incentive Stock Option, the exercise price
at the time such Incentive Stock Option is granted to any Employee who, at the
time of such grant, owns (within the meaning of Section 425(d) of the Code) more
than ten

                                     - 11 -

<PAGE>

percent of the voting power of all classes of stock of the Company or a
subsidiary, shall not be less than 110% of the per Share Fair Market Value on
the date of grant.

         6.4      DURATION OF OPTIONS. Each Option granted to an Employee shall
expire at such time as the Committee shall determine at the time of grant;
provided, however, that in the case of an Incentive Stock Option, an Employee
may not exercise such Incentive Stock Option after (a) the date which is ten
years (five years in the case of a Participant who owns more than ten percent of
the voting power of the Company or a subsidiary) after the date on which such
Incentive Stock Option is granted; or (b) the date which is three months (twelve
months in the case of a Participant who becomes disabled, as defined in Section
22(e)(3) of the Code, or who dies) after the date on which he ceases to be an
Employee of the Company or a subsidiary.

         6.5      EXERCISE OF OPTIONS. Options granted under this Article 6
shall be exercisable at such times and be subject to such restrictions and
conditions as the Committee shall in each instance approve, which need not be
the same for each grant or for each Participant.

         6.6      PAYMENT. Options granted under this Article 6 shall be
exercised by the delivery of a written notice of exercise to the Company,
setting forth the number of Shares with respect to which the Option is to be
exercised, accompanied by full payment for the Shares.

         The Option Price upon exercise of any Option shall be payable to the
Company in full either: (a) in cash or its equivalent, or (b) by tendering
previously acquired Shares having an aggregate Fair Market Value at the time of
exercise equal to the total Option Price (provided that the Shares which are
tendered must have been held by the Participant for at least six (6) months
prior to their tender to satisfy the Option Price), or (c) by a combination of
(a) and (b).

         As soon as practicable after receipt of a written notification of
exercise and full payment, the Company shall deliver to the Participant, in the
Participant's name, Share certificates in an appropriate amount based upon the
number of Shares purchased under the Option(s).

         6.7      RESTRICTIONS ON SHARE TRANSFERABILITY. The Committee may
impose such restrictions on any Shares acquired pursuant to the exercise of an
Option granted under this Article 6 as it may deem advisable, including, without
limitation, restrictions under applicable federal securities laws, under the
requirements of any stock exchange or market upon which such Shares are then
listed and/or traded, and under any blue sky or state securities laws applicable
to such Shares.

         6.8      TERMINATION OF EMPLOYMENT. Each Option Award Agreement shall
set forth the extent to which the Participant shall have the right to exercise
the Option following termination of the Participant's employment with the
Company and/or its Subsidiaries. Such provisions shall be determined in the sole
discretion of the Committee, shall be included in the Award Agreement entered
into with each Participant, need not be uniform among all Options issued
pursuant to the Plan, and may reflect distinctions based on the reasons for
termination of employment.

         6.9      DIRECTOR OPTIONS. Notwithstanding anything else contained
herein to the contrary, each Eligible Director shall receive, on April 16, 1997,
provided that the Eligible

                                     - 12 -

<PAGE>

Director is serving as a member of the Board on such date, a grant of a Director
Option to purchase 35,000 Shares at an exercise price per Share equal to the
Fair Market Value on the date of grant. Each Eligible Director who is first
elected to the Board after April 16, 1997 shall receive, on the day following
such election, a grant of a Director Option to purchase 35,000 Shares at an
exercise price per Share equal to the Fair Market Value on the date of grant. A
Director Option shall be exercisable until the earlier to occur of the following
two dates: (a) the tenth anniversary of the date of grant of such Director
Option; or (b) twelve months after the Date the Eligible Director ceases to be a
member of the Board, except that if the Eligible Director ceases to be a member
of the Board after having been convicted of, or pled guilty or nolo contendere
to, a felony, his Director Option shall be canceled on the date he ceases to be
a member of the Board. Each Director Option shall vest twenty percent (20%) on
the annual anniversary date after the date of grant; and any unvested Director
Options shall be forfeited by the Eligible Director if he terminates his service
on the Board prior to satisfaction of such vesting requirement. An Eligible
Director may pay the exercise price of a Director Option in the manner described
in Section 6.6. Each Director Option shall be evidenced by an agreement between
the Company and the Eligible Director.

         6.10     NONTRANSFERABILITY OF OPTIONS AND DIRECTOR OPTIONS.

         (A)      INCENTIVE STOCK OPTIONS AND DIRECTOR OPTIONS. No ISO or
Director Option granted under the Plan may be sold, transferred, pledged,
assigned, or otherwise alienated or hypothecated, other than by will or by the
laws of descent and distribution. Further, all ISOs and Director Options granted
to a Participant or Eligible Director under the Plan shall be exercisable during
his or her lifetime only by such Participant or Eligible Director.

         (B)      NON-QUALIFIED STOCK OPTIONS. Except as otherwise provided in a
Participant's Award Agreement, no NQSO granted under this Article 6 may be sold,
transferred, pledged, assigned, or otherwise alienated or hypothecated, other
than by will or by the laws of descent and distribution. Further, except as
otherwise provided in a Participant's Award Agreement, all NQSOs granted to a
Participant under this Article 6 shall be exercisable during his or her lifetime
only by such Participant.

                                  ARTICLE SEVEN

                            STOCK APPRECIATION RIGHTS

         7.1      GRANT OF SARs. Subject to the terms and conditions of the
Plan, SARs may be granted to Participants at any time and from time to time as
shall be determined by the Committee. The Committee may grant Freestanding SARs,
Tandem SARs, or any combination of these forms of SAR.

         The Committee shall have complete discretion in determining the number
of SARs granted to each Participant (subject to Article 4 herein) and,
consistent with the provisions of the Plan, in determining the terms and
conditions pertaining to such SARs.

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<PAGE>

         Unless otherwise designated by the Committee at the time of grant, the
grant price of a Freestanding SAR shall equal the Fair Market Value of a Share
on the date of grant of the SAR. The grant price of Tandem SARs shall equal the
Option Price of the related Option.

         7.2      EXERCISE OF TANDEM SARs. Tandem SARs may be exercised for all
or part of the Shares subject to the related Option upon the surrender of the
right to exercise the equivalent portion of the related Option. A Tandem SAR may
be exercised only with respect to the Shares for which its related Option is
then exercisable.

         Notwithstanding any other provision of this Plan to the contrary, with
respect to a Tandem SAR granted in connection with an ISO: (i) the Tandem SAR
will expire no later than the expiration of the underlying ISO; (ii) the value
of the payout with respect to the Tandem SAR may be for no more than one hundred
percent (100%) of the difference between the Option Price of the underlying ISO
and the Fair Market Value of the Shares subject to the underlying ISO at the
time the Tandem SAR is exercised; and (iii) the Tandem SAR may be exercised only
when the Fair Market Value of the Shares subject to the ISO exceeds the Option
Price of the ISO.

         7.3      EXERCISE OF FREESTANDING SARs. Freestanding SARs may be
exercised upon whatever terms and conditions the Committee, in its sole
discretion, imposes upon them.

         7.4      SAR AGREEMENT. Each SAR grant shall be evidenced by an Award
Agreement that shall specify the grant price, the term of the SAR, and such
other provisions as the Committee shall determine.

         7.5      TERM OF SARs. The term of an SAR granted under the Plan shall
be determined by the Committee, in its sole discretion; provided, however, that
unless otherwise designated by the Committee, such term shall not exceed ten
(10) years.

         7.6      PAYMENT OF SAR AMOUNT. Upon exercise of an SAR, a Participant
shall be entitled to receive payment from the Company in an amount determined by
multiplying:

         (a)      The difference between the Fair Market Value of a Share on the
date of exercise over the grant price; by

         (b)      The number of Shares with respect to which the SAR is
exercised.

         At the discretion of the Committee, the payment upon SAR exercise may
be in cash, in Shares of equivalent value, in Restricted Shares of equivalent
value, or in some combination thereof.

         7.7      TERMINATION OF EMPLOYMENT. Each SAR Award Agreement shall set
forth the extent to which the Participant shall have the right to exercise the
SAR following termination of the Participant's employment with the Company
and/or its Subsidiaries. Such provisions shall be determined in the sole
discretion of the Committee, shall be included in the Award Agreement

                                     - 14 -

<PAGE>

entered into with Participants, need not be uniform among all SARs issued
pursuant to the Plan, and may reflect distinctions based on the reasons for
termination of employment.

         7.8      NON-TRANSFERABILITY OF SARs. Except as otherwise provided in a
Participant's Award Agreement, no SAR granted under the Plan may be sold,
transferred, pledged, assigned, or otherwise alienated or hypothecated, other
than by will or by the laws of descent and distribution. Further, except as
otherwise provided in a Participant's Award Agreement, all SARs granted to a
Participant under the Plan shall be exercisable during his or her lifetime only
by such Participant.

                                  ARTICLE EIGHT

                                RESTRICTED STOCK

         8.1      GRANT OF RESTRICTED STOCK. Subject to the terms and provisions
of the Plan, the Committee, at any time and from time to time, may grant Shares
of Restricted Stock to Participants in such amounts as the Committee shall
determine.

         8.2      RESTRICTED STOCK AGREEMENT. Each Restricted Stock grant shall
be evidenced by an Award Agreement that shall specify the Period(s) of
Restriction, the number of Shares of Restricted Stock granted, and such other
provisions as the Committee shall determine.

         8.3      TRANSFERABILITY. Except as provided in this Article 8, the
Shares of Restricted Stock granted herein may not be sold, transferred, pledged,
assigned, or otherwise alienated or hypothecated until the end of the applicable
Period of Restriction established by the Committee and specified in the
Restricted Stock Award Agreement, or upon earlier satisfaction of any other
conditions, as specified by the Committee in its sole discretion and set forth
in the Restricted Stock Agreement. All rights with respect to the Restricted
Stock granted to a Participant under the Plan shall be available during his or
her lifetime only to such Participant.

8.4      OTHER RESTRICTIONS. Subject to Article 11 herein, the Committee may
impose such other conditions and/or restrictions on any Shares of Restricted
Stock granted pursuant to the Plan as it may deem advisable including, without
limitation, a requirement that Participants pay a stipulated purchase price for
each Share of Restricted Stock, restrictions based upon the achievement of
specific performance goals (Company-wide, divisional, and/or individual),
time-based restrictions on vesting following the attainment of the performance
goals, and/or restrictions under applicable federal or state securities laws.

         The Company shall retain the certificates representing Shares of
Restricted Stock in the Company's possession until such time as all conditions
and/or restrictions applicable to such Shares have been satisfied.

         Except as otherwise provided in this Article 8, Shares of Restricted
Stock covered by each Restricted Stock grant made under the Plan shall become
freely transferable by the Participant after the last day of the applicable
Period of Restriction.

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<PAGE>

         8.5      VOTING RIGHTS. Unless otherwise designated by the Committee at
the time of grant, Participants holding Shares of Restricted Stock granted
hereunder may exercise full voting rights with respect to those Shares during
the Period of Restriction.

         8.6      DIVIDENDS AND OTHER DISTRIBUTIONS. Unless otherwise designated
by the Committee at the time of grant, Participants holding Shares of Restricted
Stock granted hereunder may be credited with regular cash dividends paid with
respect to the underlying Shares while they are so held during the Period of
Restriction. The Committee may apply any restrictions to the dividends that the
Committee deems appropriate. Without limiting the generality of the preceding
sentence, if the grant of vesting of Restricted Stock granted to a Named
Executive Officer is designed to comply with the requirements of the
Performance-Based Exception, the Committee may apply any restrictions it deems
appropriate to the payment of dividends declared with respect to such Restricted
Stock, such that the dividends and/or the Restricted Stock maintain eligibility
for the Performance-Based Exception.

         8.7      TERMINATION OF EMPLOYMENT. Each Restricted Stock Award
Agreement shall set forth the extent to which the Participant shall have the
right to receive unvested Restricted Shares following termination of the
Participant's employment with the Company and/or its Subsidiaries. Such
provisions shall be determined in the sole discretion of the Committee, shall be
included in the Award Agreement entered into with each Participant, need not be
uniform among all Shares of Restricted Stock issued pursuant to the Plan, and
may reflect distinctions based on the reasons for termination of employment;
provided, however, that, except in the cases of terminations connected with a
Change in Control, terminations by reason of death or Disability, and except for
Restricted Shares paid to Participants upon SAR exercise, the vesting of Shares
of Restricted Stock which qualify for the Performance-Based Exception and which
are held by Named Executive Officers shall not occur prior to the time they
otherwise would have, but for the employment termination.

                                  ARTICLE NINE

                    PERFORMANCE UNITS AND PERFORMANCE SHARES

         9.1      GRANT OF PERFORMANCE UNITS AND PERFORMANCE SHARES. Subject to
the terms of the Plan, Performance Units and/or Performance Shares may be
granted to Participants in such amounts and upon such terms, and at any time and
from time to time, as shall be determined by the Committee.

         9.2      VALUE OF PERFORMANCE UNITS/SHARES. Each Performance Unit shall
have an initial value that is established by the Committee at the time of grant.
Each Performance Share shall have an initial value equal to the Fair Market
Value of a Share on the date of grant. The Committee shall set performance goals
in its discretion which, depending on the extent to which they are met, will
determine the number and/or value of Performance Units/Shares that will be paid
out to the Participant. For purposes of this Article 9, the time period during
which the performance goals must be met shall be called a "Performance Period."

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<PAGE>

         9.3      EARNING OF PERFORMANCE UNITS/SHARES. Subject to the terms of
this Plan, after the applicable Performance Period has ended, the holder of
Performance Units/Shares shall be entitled to receive payout on the number and
value of Performance Units/Shares earned by the Participant over the Performance
Period, to be determined as a function of the extent to which the corresponding
performance goals have been achieved, as established by the Committee.

         9.4      FORM AND TIMING OF PAYMENT OF PERFORMANCE UNITS/SHARES.
Subject to the terms of this Plan, the Committee, in its sole discretion, may
pay earned Performance Units/Shares in the form of cash or in Shares (or in a
combination thereof) which have an aggregate Fair Market Value equal to the
value of the earned Performance Units/Shares at the close of the applicable
Performance Period. Such Shares may be granted subject to any restrictions
deemed appropriate by the Committee.

         At the discretion of the Committee, Participants may be entitled to
receive any dividends declared with respect to Shares which have been earned in
connection with grants of Performance Units and/or Performance Shares which have
been earned, but not yet distributed to Participants (such dividends shall be
subject to the same accrual, forfeiture, and payout restrictions as apply to
dividends earned with respect to Shares of Restricted Stock, as set forth in
Section 8.6 herein). In addition, Participants may, at the discretion of the
Committee, be entitled to exercise their voting rights with respect to such
Shares.

         9.5      TERMINATION OF EMPLOYMENT DUE TO DEATH, DISABILITY OR
RETIREMENT. Unless otherwise designated by the Committee, and set forth in the
Participants Award Agreement, in the event the employment of a Participant is
terminated due to death, Disability or Retirement during a Performance Period,
the Participant shall receive a prorated payout of the Performance Units/Shares.
The prorated payout shall be determined by the Committee, shall be based upon
the length of time that the Participant held the Performance Units/Shares during
the Performance Period and shall further be adjusted based on the achievement of
the preestablished performance goals.

         Payment of earned Performance Units/Shares shall be made at a time
specified by the Committee in its sole discretion and set forth in the
Participant's Award Agreement. Notwithstanding the foregoing, with respect to
Named Executive Officers who retire during a Performance Period, payments shall
be made at the same time as payments are made to Participants who did not
terminate employment during the applicable Performance Period.

         9.6      TERMINATION OF EMPLOYMENT FOR OTHER REASONS. In the event that
a Participant's employment terminates for any reason other than those reasons
set forth in Section 9.5 herein, all Performance Units/Shares shall be forfeited
by the Participant to the Company unless determined otherwise by the Committee,
as set forth in the Participant's Award Agreement.

         9.7      NONTRANSFERABILITY. Except as otherwise provided in a
Participant's Award Agreement, Performance Units/Shares may not be sold,
transferred, pledged, assigned or otherwise alienated or hypothecated, other
than by will or by the laws of descent and distribution. Further, except as
otherwise provided in a Participant's Award Agreement, a

                                     - 17 -

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Participant's rights under the Plan shall be exercisable during the
Participant's lifetime only by the Participant or the Participant's legal
representative.

                                   ARTICLE TEN

                             OTHER INCENTIVE AWARDS

         10.1     GRANT OF OTHER INCENTIVE AWARDS. Subject to the terms and
provisions of the Plan, Other Incentive Awards may be granted to Participants in
such amount, upon such terms, and at any time and from time to time as shall be
determined by the Committee.

         10.2     OTHER INCENTIVE AWARD AGREEMENT. Each Other Incentive Award
grant shall be evidenced by an Award Agreement that shall specify the amount of
the Other Incentive Award granted, the terms and conditions applicable to such
grant, the applicable Performance Period and performance goals, and such other
provisions as the Committee shall determine, subject to the terms and provisions
of the Plan.

         10.3     NONTRANSFERABILITY. Except as otherwise provided in a
Participant's Award Agreement, Other Incentive Awards may not be sold,
transferred, pledged, assigned or otherwise alienated or hypothecated, other
than by will or by the laws of descent and distribution.

         10.4     FORM AND TIMING OF PAYMENT OF OTHER INCENTIVE AWARDS. Payment
of Other Incentive Awards shall be made at such times and in such form, in cash,
in Shares, or in Restricted Shares (or a combination thereof), as established by
the Committee subject to the terms of the Plan. Such Shares may be granted
subject to any restrictions deemed appropriate by the Committee. Without
limiting the generality of the foregoing, annual incentive awards may be paid in
the form of Shares and/or Other Incentive Awards (which may or may not be
subject to restrictions, at the discretion of the Committee).

                                 ARTICLE ELEVEN

                              PERFORMANCE MEASURES

         Unless and until the Committee proposes for shareholder vote and
shareholders approve a change in the general performance measures set forth in
this Article 11, the attainment of which may determine the degree of payout
and/or vesting with respect to Awards to Named Executive Officers which are
designed to qualify for the Performance-Based Exception, the performance
measure(s) to be used for purposes of such grants shall be chosen from among the
following alternatives, as reported on the Company's annual 10-K report:

         (a)      Return on Assets ("ROA") which equals net income divided by
total assets.

         (b)      Return on Sales ("ROS") which equals net income divided by net
sales.

         (c)      Return on Equity ("ROE") which equals net income divided by
total equity.

                                     - 18 -

<PAGE>

         (d)      Cash Flow Return on Investment ("CFROI") which equals net cash
flows divided by owner's equity.

         (e)      Operating Income.

         (f)      Earnings Before Income Taxes ("EBIT") which equals net income
plus taxes.

         (g)      Net Earnings which equals net earnings as reported.

         (h)      Earnings Per Share.

         The Committee shall have the discretion to adjust the determinations of
the degree of attainment of the preestablished performance goals; provided,
however, that Awards which are designed to qualify for the Performance-Based
Exception, and which are held by Named Executive Officers, may not be adjusted
upward (the Committee shall retain the discretion to adjust such Awards
downward).

         In the event that applicable tax and/or securities laws change to
permit Committee discretion to alter the governing performance measures without
obtaining shareholder approval of such changes, the Committee shall have sole
discretion to make such changes without obtaining shareholder approval. In
addition, in the event that the Committee may make such grants for the
Performance-Based Exception, the Committee may make such grants without
satisfying the requirements of Code Section 162(m) and, thus, which use
performance measures other than those specified above. To the extent that the
Committee determines that it is advisable to grant Awards in compliance with the
Performance-Based Exception, the Committee must certify, in writing, prior to
the payment of any compensation under the Award, that the performance goals and
any other material terms were in fact satisfied.

                                 ARTICLE TWELVE

                             BENEFICIARY DESIGNATION

Each Participant under the Plan may, from time to time, name any beneficiary or
beneficiaries (who may be named contingently or successively) to whom any
benefit under the Plan is to be paid in case of his or her death before he or
she receives any or all of such benefit. Each such designation shall revoke all
prior designations by the same Participant, shall be in a form prescribed the
Company, and will be effective only when filed by the Participant in writing
with the Company during the Participant's lifetime. In the absence of any such
designation, benefits remaining unpaid at the Participant's death shall be paid
to the Participant's estate.

                                ARTICLE THIRTEEN

                                    DEFERRALS

         The Committee may permit a Participant to defer such Participant's
receipt of the payment of cash or the delivery of Shares that would otherwise be
due to such Participant by

                                     - 19 -

<PAGE>

virtue of the exercise of an Option or SAR, the lapse or waiver of restrictions
with respect to Restricted Stock, or the satisfaction of any requirements or
goals with respect to Performance Units/Shares or Other Incentive Awards. If any
such deferral election is required or permitted, the Committee shall, in its
sole discretion, establish rules and procedures for such payment deferrals.

                                ARTICLE FOURTEEN

                               RIGHTS OF EMPLOYEES

         14.1     EMPLOYMENT. Nothing in the Plan shall interfere with or limit
in any way the right of the Company to terminate any Participant's employment at
any time, nor confer upon any Participant any right to continue in the employ of
the Company.

         14.2     PARTICIPATION. No Employee shall have the right to be selected
to receive an Award under this plan, or, having been so selected, to be selected
to receive a future Award.

                                 ARTICLE FIFTEEN

                                CHANGE IN CONTROL

         15.1     TREATMENT OF OUTSTANDING AWARDS. Upon the occurrence of a
Change in Control, unless otherwise specifically prohibited under applicable
laws, or by the rules and regulations of any governing governmental agencies or
national securities exchanges:

                  (a)      Any and all Options, Director Options and SARs
granted hereunder shall become immediately exercisable, and shall remain
exercisable throughout their entire term, and any cash or property received upon
exercise of any Option or SAR shall be free from further restriction;

                  (b)      Any restriction periods and restrictions imposed on
Restricted Shares shall lapse; and

                  (c)      Unless otherwise specified in Participant's Award
Agreement at time of grant, the target payout opportunities attainable under all
outstanding Awards of Performance Units and Performance Shares and Other
Incentive Awards shall be deemed to have been fully earned for the entire
Performance Period(s) as of the effective date of the Change in Control. The
vesting of all such Awards shall be accelerated as of the effective date of the
Change in Control, and in full settlement of such Awards, there shall be paid
out to Participants (in Shares for Awards normally paid in Shares and in cash
for Awards normally paid in cash) within thirty (30) days following the
effective date of the Change in Control a pro rata portion of all targeted Award
opportunities associated with such outstanding Awards, based on the number of
complete and partial calendar months within the Performance Period which had
elapsed as of such effective date.

                                     - 20 -

<PAGE>

         15.2     TERMINATION, AMENDMENT AND MODIFICATIONS OF CHANGE IN CONTROL
PROVISIONS. Notwithstanding any other provision of this Plan or any Award
Agreement provision, the provisions of this Article 15 may not be terminated,
amended or modified to affect adversely any Award or Director Option theretofore
granted under the Plan without the prior written consent of the Participant or
Eligible Director with respect to said Participant's or Eligible Director's
outstanding Awards or Director Options.

                                 ARTICLE SIXTEEN

                     AMENDMENT, MODIFICATION AND TERMINATION

         16.1     AMENDMENT, MODIFICATION AND TERMINATION. The Board may at any
time and from time to time alter, amend, suspend or terminate the Plan in whole
or in part, provided that no amendment may be made to Section 6.9 or any other
provision of the Plan relating to Director Options within six months of the last
date on which any such provision was amended, other than to comport with changes
in the Code or the rules thereunder. The Committee shall not have the authority
to cancel outstanding Awards and issue substitute Awards in replacement thereof.

         16.2     AWARDS PREVIOUSLY GRANTED. No termination, amendment or
modification of the Plan shall adversely affect in any material way any Award
previously granted under the Plan, without the written consent of the
Participant holding such Award.

         16.3     COMPLIANCE WITH CODE SECTION 162(m). At all times when Code
Section 162(m) is applicable, all Awards granted under this Plan shall comply
with the requirements of Code Section 162(m); provided, however, that in the
event the Committee determines that such compliance is not desired with respect
to any Award or Awards available for grant under the Plan, then compliance with
Code Section 162(m) will not be required. In addition, in the event that changes
are made to Code Section 162(m) to permit greater flexibility with respect to
any Award or Awards available under the Plan, the Committee may, subject to this
Article 16, make any adjustments it deems appropriate.

                                ARTICLE SEVENTEEN

                                   WITHHOLDING

         17.1     TAX WITHHOLDING. The Company shall have the power and the
right to deduct or withhold, or require a Participant or Eligible Director to
remit to the Company, an amount sufficient to satisfy federal, state, and local
taxes, domestic or foreign, required by law or regulation to be withheld with
respect to any taxable event arising as a result of this Plan.

         17.2     SHARE WITHHOLDING. With respect to withholding required upon
the exercise of Options, Director Options or SARs, upon the lapse of
restrictions on Restricted Stock, or upon any other taxable event arising as a
result of Awards granted hereunder, Participants or Eligible Directors may
elect, subject to the approval of the Committee, to satisfy the withholding
requirement, in whole or in part, by having the Company withhold Shares having a
Fair Market Value on the date the tax is to be determined equal to the minimum
statutory total tax which

                                     - 21 -

<PAGE>

could be imposed on the transaction. All such elections shall be irrevocable,
made in writing, signed by the Participant or Eligible Director, and shall be
subject to any restrictions or limitations that the Committee, in its sole
discretion, deems appropriate.

                                ARTICLE EIGHTEEN

                                 INDEMNIFICATION

         Each person who is or shall have been a member of the Committee, or of
the Board, shall be indemnified by the Company against and from any loss, cost,
liability or expense that may be imposed upon or reasonably incurred by him or
her in connection with or resulting from any claim, action, suit or proceeding
to which he or she may be a party or in which he or she may be involved by
reason of any action taken or failure to act under the Plan. Such person shall
be indemnified by the Company for all amounts paid by him or her in settlement
thereof, with the Company's approval, or paid by him or her in satisfaction of
any judgment in any such action, suit or proceeding against him or her, provided
he or she shall give the Company an opportunity, at its own expense, to handle
and defend the same before he or she undertakes to handle and defend it on his
or her own behalf. The foregoing right of indemnification shall not be exclusive
of any other rights of indemnification to which such persons may be entitled
under the Company's Articles of Incorporation or Bylaws, as a matter of law, or
otherwise, or any power that the Company may have to indemnify them or hold them
harmless.

                                ARTICLE NINETEEN

                                   SUCCESSORS

         All obligations of the Company under the Plan with respect to Awards or
Director Options granted hereunder shall 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 otherwise, of all or substantially
all of the business and/or assets of the Company.

                                 ARTICLE TWENTY

                               LEGAL CONSTRUCTION

         20.1     GENDER AND NUMBER. Except where otherwise indicated by the
context, any masculine term used herein shall also include the feminine, the
plural shall include the singular, and the singular shall include the plural.

         20.2     SEVERABILITY. In the event any provision of the Plan shall be
held illegal or invalid for any reason, the illegality or invalidity shall not
affect the remaining parts of the Plan, and the Plan shall be construed and
enforced as if the illegal or invalid provision had not been included.

         20.3     REQUIREMENTS OF LAW. The granting of Awards or Director
Options and the issuance of Shares under the Plan shall be subject to all
applicable laws, rules and regulations,

                                     - 22 -

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and to such approvals by any governmental agencies or national securities
exchanges as may be required.

         20.4     GOVERNING LAW. To the extent not preempted by federal law, the
Plan, and all agreements hereunder, shall be construed in accordance with and
governed by the laws of the State of Delaware.

                                     - 23 -

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